Document:

EX-10.5

 Exhibit 10.5 
  

 
 TAX RECEIVABLE AGREEMENT 

by and among 
 BRILLIANT EARTH
GROUP, INC. 
 BRILLIANT EARTH, LLC 

and 
 THE MEMBERS OF BRILLIANT
EARTH, LLC 
 FROM TIME TO TIME PARTY HERETO 

Dated as [ ● ], 2021 
  

 

 CONTENTS 
  

							
	 	 	 	  	Page	 
	 ARTICLE I Definitions
	  	 2
	 
			
	 Section 1.1.
	 	 Definitions
	  	 	2	 
	 Section 1.2.
	 	 Rules of Construction
	  	 	11	 
		
	 ARTICLE II Determination of Realized Tax Benefit
	  	 12
	 
			
	 Section 2.1.
	 	 Basis Adjustments; LLC 754 Election
	  	 	12	 
	 Section 2.2.
	 	 Basis Schedules
	  	 	13	 
	 Section 2.3.
	 	 Tax Benefit Schedules
	  	 	13	 
	 Section 2.4.
	 	 Procedures; Amendments
	  	 	14	 
		
	 ARTICLE III Tax Benefit Payments
	  	 15
	 
			
	 Section 3.1.
	 	 Timing and Amount of Tax Benefit Payments
	  	 	15	 
	 Section 3.2.
	 	 No Duplicative Payments
	  	 	17	 
	 Section 3.3.
	 	 Pro-Ration of Payments as Between the Members
	  	 	17	 
	 Section 3.4.
	 	 Overpayments
	  	 	18	 
	 Section 3.5.
	 	 Optional Estimated Tax Benefit Payment Procedure
	  	 	18	 
		
	 ARTICLE IV Termination
	  	 19
	 
			
	 Section 4.1.
	 	 Early Termination of Agreement; Acceleration Events
	  	 	19	 
	 Section 4.2.
	 	 Early Termination Notice
	  	 	21	 
	 Section 4.3.
	 	 Payment upon Early Termination
	  	 	21	 
		
	 ARTICLE V Subordination and Late Payments
	  	 22
	 
			
	 Section 5.1.
	 	 Subordination
	  	 	22	 
	 Section 5.2.
	 	 Late Payments by the Corporation
	  	 	22	 
		
	 ARTICLE VI Tax Matters; Consistency; Cooperation
	  	 22
	 
			
	 Section 6.1.
	 	 Participation in the Corporation’s and the LLC’s Tax Matters
	  	 	22	 
	 Section 6.2.
	 	 Consistency
	  	 	23	 
	 Section 6.3.
	 	 Cooperation
	  	 	23	 
		
	 ARTICLE VII MISCELLANEOUS
	  	 24
	 
			
	 Section 7.1.
	 	 Notices
	  	 	24	 
	 Section 7.2.
	 	 Counterparts
	  	 	25	 
	 Section 7.3.
	 	 Entire Agreement; No Third-Party Beneficiaries
	  	 	26	 
	 Section 7.4.
	 	 Severability
	  	 	26	 
	 Section 7.5.
	 	 Assignments; Amendments; Successors; No Waiver
	  	 	26	 
	 Section 7.6.
	 	 Titles and Subtitles
	  	 	27	 

							
	 Section 7.7.
	 	 Resolution of Disputes; Governing Law
	  	 	27	 
	 Section 7.8.
	 	 Reconciliation Procedures
	  	 	28	 
	 Section 7.9.
	 	 Withholding
	  	 	29	 
	 Section 7.10.
	 	 Admission of the Corporation into a Consolidated Group; Transfers of Corporate Assets
	  	 	29	 
	 Section 7.11.
	 	 Confidentiality
	  	 	30	 
	 Section 7.12.
	 	 Change in Law
	  	 	30	 
	 Section 7.13.
	 	 Interest Rate Limitation
	  	 	31	 
	 Section 7.14.
	 	 Independent Nature of Rights and Obligations
	  	 	31	 
	 Section 7.15.
	 	 LLC Agreement
	  	 	31	 

 Exhibits 
  

					
	 Exhibit A
	 	-	  	 Form of Joinder Agreement

  

 TAX RECEIVABLE AGREEMENT 

This TAX RECEIVABLE AGREEMENT (this “Agreement”), dated as of [ ● ], 2021, is hereby entered into by and
among Brilliant Earth Group, Inc., a Delaware corporation (the “Corporation”), Brilliant Earth, LLC, a Delaware limited liability company (the “LLC”), and each of the Members (as defined herein) from time to time
party hereto. 
 RECITALS 

WHEREAS, the LLC is treated as a partnership for U.S. federal income tax purposes; 

WHEREAS, each of the members of the LLC as of the date hereof own membership interests in the LLC in the form of Units (as defined herein)
(such members (other than the Corporation), together with each other Person who becomes party hereto by satisfying the Joinder Requirement, the “Members”); 

WHEREAS, the Corporation is the sole managing member of the LLC; 

WHEREAS, the Corporation will issue [ ● ] shares of its Class A common stock, par value $0.0001 per share (the
“Class A Common Stock”) to certain purchasers in an initial public offering of its Class A Common Stock (the “IPO”); 

WHEREAS, the Corporation will use a portion of the net proceeds from the IPO to acquire (i) newly issued Units directly from the LLC,
which proceeds will be used by the LLC for general company purposes and (ii) certain Units held by the Members from such Members (the “IPO Unit Purchase”); 

WHEREAS, the Operating Agreement (as defined herein) provides each Member a redemption right pursuant to which each Member may cause the LLC
to redeem all or a portion of its Units from time to time for shares of Class A Common Stock or Class D Common Stock or, at the Corporation’s option, cash (a “Redemption”), subject to the Corporation’s right, in
its sole discretion, to elect to effect a direct exchange of cash or shares of Class A Common Stock or Class D Common Stock for such Units between the Corporation and the applicable Member in lieu of such a Redemption (a “Direct
Exchange”); 
 WHEREAS, the LLC and each of its Subsidiaries (as defined herein) that is treated as a partnership for U.S. federal
income tax purposes will have in effect an election under Section 754 of the Code (as defined herein) for the Taxable Year (as defined herein) in which any Exchange (as defined herein) occurs, which election will cause any such Exchange to
result in an adjustment to the Corporation’s proportionate share of the tax basis of the assets owned by the LLC or certain of its Subsidiaries; and 

WHEREAS, the parties to this Agreement desire to provide for certain payments and make certain arrangements with respect to any tax benefits
to be derived by the Corporation as the result of Exchanges and the making of payments under this Agreement. 

  
 1 

 NOW, THEREFORE, in consideration of the foregoing and the respective covenants and
agreements set forth herein, the parties hereto agree as follows: 
 ARTICLE I 

Definitions 

Section 1.1. Definitions. As used in this Agreement, the terms set forth in this Article I shall
have the following meanings (such meanings to be equally applicable to (i) the singular and plural, (ii) the active and passive and (iii) for defined terms that are nouns, the verbified forms of the terms defined). 

“Actual Tax Liability” means, with respect to any Taxable Year, the liability for Covered Taxes of the Corporation
(a) appearing on Tax Returns of the Corporation filed for such Taxable Year or (b) if applicable, determined in accordance with a Determination; provided, that for purposes of determining Actual Tax Liability (including the federal
benefit relating to state and local Covered Taxes), the Corporation shall use the Assumed State and Local Tax Rate for purposes of determining liabilities for all U.S. state and local Covered Taxes. 

“Advisory Firm” means an accounting firm that is nationally recognized as being expert in Covered Tax matters, selected by
the Corporation. 
 “Affiliate” means, with respect to any Person, any other Person that directly or indirectly, through
one or more intermediaries, Controls, is Controlled by, or is under common Control with, such first Person. 
 “Agreed
Rate” means a per annum rate of LIBOR plus 100 basis points. 
 “Agreement” is defined in the preamble. 

“Amended Schedule” is defined in Section 2.4(a). 

“Amount Realized” means, with respect to any Exchange at any time, the sum of (i) the Market Values of the shares of
Class A Common Stock or Class D Common Stock or the amount of cash (as applicable) transferred to a Member pursuant to such Exchange, (ii) the amount of payments made pursuant to this Agreement with respect to such Exchange (but
excluding any portions thereof attributable to Imputed Interest) and (iii) the amount of liabilities allocated to the Units acquired pursuant to the Exchange under Section 752 of the Code and the Treasury Regulations promulgated
thereunder. 
 “Assumed State and Local Tax Rate” means the tax rate equal to the sum of the products of (x) the
Corporation’s income tax apportionment factor for each state and local jurisdiction in which the Corporation files income or franchise tax returns for the relevant Taxable Year and (y) the highest corporate income and franchise tax rate
for each such state and local jurisdiction in which the Corporation files income tax returns for each relevant Taxable Year. 

“Attributable” is defined in Section 3.1(b)(i). 

  
 2 

 “Audit Committee” means the audit committee of the Board. 

“Basis Adjustment” means the increase or decrease to, or the Corporation’s proportionate share of, the tax basis of the
Reference Assets under Section 732, 734(b), 743(b), 754, 755 or 1012 of the Code, in each case, or any similar provisions of U.S. state or local tax Law, as a result of any Exchange or any payment made under this Agreement. For purposes of
determining the Corporation’s proportionate share of the tax basis of the Reference Assets with respect to the Units transferred in an Exchange under Treasury Regulations Section 1.743-1(b) (or any
similar provisions of U.S. state or local tax Law), the consideration deemed paid by the Corporation for such Units shall be the Amount Realized. Notwithstanding any other provision of this Agreement, the amount of any Basis Adjustment resulting
from an Exchange of one or more Units is to be determined as if any Pre-Exchange Transfer of such Units had not occurred, and, further, payments under this Agreement shall not be treated as resulting in a
Basis Adjustment to the extent such payments are treated as Imputed Interest. 
 “Basis Schedule” is defined in
Section 2.2. 
 “Beneficial Owner” means, with respect to any security, a Person who directly or
indirectly, through any contract, arrangement, understanding, relationship or otherwise, has or shares (i) voting power, which includes the power to vote, or to direct the voting of, such security, or (ii) investment power, which includes
the power to dispose of, or to direct the disposition of, such security. 
 “Board” means the board of directors of the
Corporation. 
 “Business Day” means any day other than a Saturday or a Sunday or a day on which banks located in New York
City, New York generally are authorized or required by Law to close. 
 “Change of Control” means the occurrence of any of
the following events: 
 (i) any “person” or “group” (within the meaning of Sections 13(d) of the
Exchange Act (excluding any employee benefit plan of such person and its subsidiaries, and any person or entity acting in its capacity as trustee, agent or other fiduciary or administrator of any such plan) becomes the Beneficial Owner of securities
of the Corporation representing more than 50% of the combined voting power of the Corporation’s then outstanding voting securities; 

(ii) the following individuals cease for any reason to constitute a majority of the number of directors of the Corporation then
serving: individuals who, on the date the IPO is consummated, constitute the Board and any new director whose appointment or election by the Board or nomination for election by the Corporation’s shareholders was approved or recommended by a
vote of at least two-thirds (2/3) of the directors then still in office who either were directors on the date the IPO is consummated or whose appointment, election or nomination for election was previously so
approved or recommended by the directors referred to in this clause (ii); 

  
 3 

 (iii) (A) the shareholders of the Corporation approve a plan of complete
liquidation or dissolution of the Corporation or (B) there is consummated an agreement or series of related agreements for the sale or other disposition, directly or indirectly, by the Corporation of all or substantially all of the
Corporation’s assets (including a sale of all or substantially all of the assets of the LLC) , other than such sale or other disposition by the Corporation of all or substantially all of the Corporation’s assets to an entity at least 50%
of the combined voting power of the voting securities of which are owned by shareholders of the Corporation in substantially the same proportions as their ownership of the Corporation immediately prior to such sale or other disposition; 

(iv) there is consummated a merger or consolidation of the Corporation with any other corporation or other entity, and,
immediately after the consummation of such merger or consolidation, either (A) the Board immediately prior to the merger or consolidation does not constitute at least a majority of the board of directors of the Person resulting from such merger
or consolidation or, if the surviving company is a Subsidiary, the ultimate parent thereof or (B) the voting securities of the Corporation outstanding immediately prior to such merger or consolidation do not continue to represent or are not
converted into more than fifty percent (50%) of the combined voting power of the then outstanding voting securities of the Person resulting from such merger or consolidation or, if the surviving company is a Subsidiary, the ultimate parent thereof;
or 
 (v) the Corporation ceases to be the sole managing member of the LLC. 

Notwithstanding the foregoing, a “Change of Control” shall not be deemed to have occurred by virtue of the consummation of any transaction or series
of integrated transactions immediately following which (a) the record holders of the Class A Common Stock, Class B Common Stock, Class C Common Stock, Class D Common Stock, preferred stock and/or any other class or classes
of capital stock of the Corporation (if any) immediately prior to such transaction or series of transactions continue to have substantially the same proportionate ownership in and voting control over, and own substantially all of the shares of, an
entity which owns all or substantially all of the assets of the Corporation immediately following such transaction or series of transactions or (b) in the case of the foregoing clauses (i) or (iv), either the Mainsail Related Parties or
the Just Rocks Related Parties are the “beneficial owner” (within the meaning of Rules 13d-3 and 13d-5 under the Exchange Act), directly or indirectly, of
shares of Class A Common Stock, Class B Common Stock, Class C Common Stock, Class D Common Stock, preferred stock and/or any other class or classes of capital stock of the Corporation (if any) representing in the aggregate more
than fifty percent (50%) of the voting power of all of the outstanding shares of capital stock of the Corporation entitled to vote (or, in the case of a transaction described in the foregoing clause (iv), more than fifty percent (50%) of the
combined voting power of the then outstanding voting securities of the Person resulting from such merger or consolidation or, if the surviving company is a Subsidiary, the ultimate parent thereof). 

“Class A Common Stock” is defined in the recitals to this Agreement. 

  
 4 

 “Class B Common Stock” means the shares of Class B
common stock, par value $0.0001 per share, of the Corporation. 
 “Class C Common Stock” means the
shares of Class C common stock, par value $0.0001 per share, of the Corporation. 
 “Class D Common
Stock” means the shares of Class D common stock, par value $0.0001 per share, of the Corporation. 
 “Code”
means the U.S. Internal Revenue Code of 1986, as amended. 
 “Control” means the direct or indirect possession of the power
to direct or cause the direction of the management or policies of a Person, whether through ownership of voting securities, by contract or otherwise. 

“Corporation” is defined in the preamble to this Agreement. 

“Covered Tax Benefit” is defined in Section 3.3(a) of this Agreement. 

“Covered Taxes” means any U.S. federal, state and local taxes, assessments or similar charges that are based on or measured
with respect to net income or profits and any interest imposed in respect thereof under applicable Law. 
 “Cumulative Net Realized
Tax Benefit” is defined in Section 3.1(b)(iii). 
 “Default Rate” means a per annum rate
of LIBOR plus 500 basis points. 
 “Default Rate Interest” is defined in Section 5.2. 

“Determination” shall have the meaning ascribed to such term in Section 1313(a) of the Code or any similar provisions of
U.S. state or local tax Law, as applicable, or any other event (including the execution of IRS Form 870-AD) that finally and conclusively establishes the amount of any liability for tax. 

“Direct Exchange” is defined in the recitals to this Agreement. 

“Early Termination Effective Date” means (i) with respect to an early termination pursuant to
Section 4.1(a), the date an Early Termination Notice is delivered, (ii) with respect to an early termination pursuant to Section 4.1(b), the date of the applicable Change of Control and
(iii) with respect to an early termination pursuant to Section 4.1(c), the date of the applicable Material Breach. 

“Early Termination Notice” is defined in Section 4.2(a). 

“Early Termination Payment” is defined in Section 4.3(b). 

“Early Termination Reference Date” is defined in Section 4.2(b). 

“Early Termination Schedule” is defined in Section 4.2(b). 

  
 5 

 “Exchange” means any (i) Direct Exchange, (ii) Redemption, (iii)
IPO Unit Purchase, (iv) other purchase (as determined for U.S. federal income tax purposes) of Units by the Corporation (including a purchase by the LLC deemed or treated as a purchase by the Corporation under Section 707(a) of the Code)
from a Member that results in a Basis Adjustment or (v) distribution (including a deemed distribution) by the LLC to a Member that results in a Basis Adjustment. 

“Exchange Act” means the Securities and Exchange Act of 1934, as amended, and applicable rules and regulations thereunder,
and any successor to such statute, rules or regulations. 
 “Exchange Date” means the date of any Exchange. 

“Expert” is defined in Section 7.8(a). 

“Final Payment Date” means any date on which a Payment is required to be made pursuant to this Agreement. The Final Payment
Date in respect of (i) a Tax Benefit Payment is determined pursuant to Section 3.1(a) and (ii) an Early Termination Payment is determined pursuant to Section 4.3(a). 

“Hypothetical Tax Liability” means, with respect to any Taxable Year, the hypothetical liability of the Corporation that
would arise in respect of Covered Taxes, using the same methods, elections, conventions and similar practices used in computing the Actual Tax Liability but (i) calculating depreciation, amortization or other similar deductions, or otherwise
calculating any items of income, gain or loss, using the Corporation’s proportionate share of the Non-Adjusted Tax Basis as reflected on the Basis Schedule, including amendments thereto, for such Taxable
Year and (ii) excluding any deduction attributable to Imputed Interest, Actual Interest Amounts, or Default Rate Interest for such Taxable Year; provided, that for purposes of determining the Hypothetical Tax Liability, the combined tax
rate for U.S. state and local Covered Taxes (but not, for the avoidance of doubt, federal Covered Taxes) shall be the Assumed State and Local Tax Rate. For the avoidance of doubt, the Hypothetical Tax Liability shall be determined without taking
into account the carryover or carryback of any tax item (or portions thereof) that is attributable to any of the items described in clauses (i) or (ii) of the previous sentence. 

“Imputed Interest” means any interest imputed under Section 483, 1272 or 1274 or any other provision of the Code or any
similar provisions of U.S. state or local tax Law with respect to the Corporation’s payment obligations under this Agreement. 

“Independent Directors” means the members of the Board who are “independent” under applicable Laws and the
standards of the principal U.S. securities exchange on which the Class A Common Stock is traded or quoted. 
 “Interest
Amount” is defined in Section 3.1(b)(vi). 
 “IRS” means the U.S. Internal Revenue
Service. 

  
 6 

 “Joinder” means a joinder to this Agreement, in form and substance
substantially similar to Exhibit A to this Agreement. 
 “Joinder Requirement” is defined in
Section 7.5(a). 
 “Just Rocks” means Just Rocks, Inc., a Delaware corporation. 

“Just Rocks Related Parties” means Just Rocks, Beth Gerstein, Eric Grossberg, The Eric S. Grossberg 2021 Annuity Trust, The
Beth T. Gerstein 2021 Annuity Trust, The Sutton-Gerstein Family Trust, The Eric S. Grossberg Revocable Trust, and The Alexander M. Sutton 2021 Annuity Trust and their respective Affiliates. 

“Just Rocks Representative” means Just Rocks or another Just Rocks Related Party designated in writing by the existing Just
Rocks Representative to the Corporation and the LLC. 
 “Law” means all laws, statutes, ordinances, rules and regulations
of the U.S., any foreign country and each state, commonwealth, city, county, municipality, regulatory or self-regulatory body, agency or other political subdivision thereof. 

“LIBOR” means, during any period, the rate which appears on the Bloomberg Page BBAM1 (or on such other substitute Bloomberg
page that displays rates at which U.S. dollar deposits are offered by leading banks in the London interbank deposit market), or the rate which is quoted by another source selected by the Corporation as an authorized information vendor for the
purpose of displaying rates at which U.S. dollar deposits are offered by leading banks in the London interbank deposit market (an “Alternate Source”), at approximately 11:00 a.m., London time, two (2) Business Days prior to the
first day of such period as the London interbank offered rate for U.S. dollars having a borrowing date and a maturity comparable to such period (or if there shall at any time, for any reason, no longer exist a Bloomberg Page BBAM1 (or any substitute
page) or any LIBOR Alternate Source, a comparable replacement rate determined by the Corporation at such time, which determination shall be conclusive absent manifest error); provided, that at no time shall LIBOR be less than 0%. If the
Corporation has made the determination (such determination to be conclusive absent manifest error) that (i) LIBOR is no longer a widely recognized benchmark rate for newly originated loans in the U.S. loan market in U.S. dollars or
(ii) the applicable supervisor or administrator (if any) of LIBOR has made a public statement identifying a specific date after which LIBOR shall no longer be used for determining interest rates for loans in the U.S. loan market in U.S.
dollars, then the Corporation shall (as determined by the Corporation to be consistent with market practice generally), establish a replacement interest rate (the “Replacement Rate”), in which case, the Replacement Rate shall,
subject to the next two sentences, replace LIBOR for all purposes under this Agreement. In connection with the establishment and application of the Replacement Rate, this Agreement shall be amended solely with the consent of the Corporation and the
LLC, as may be necessary or appropriate, in the reasonable judgment of the Corporation, to effect the provisions of this section. The Replacement Rate shall be applied in a manner consistent with market practice; provided that, in each case, to the
extent such market practice is not administratively feasible for the Corporation, such Replacement Rate shall be applied as otherwise reasonably determined by the Corporation in a manner consistent with the purposes and use of LIBOR in this
Agreement. 

  
 7 

 “LLC” is defined in the preamble to this Agreement. 

“LLC Group” means the LLC and each of its direct or indirect Subsidiaries that is treated as a partnership or disregarded
entity for applicable tax purposes (but excluding any such Subsidiary that is directly or indirectly held by any entity treated as a corporation for applicable tax purposes (other than the Corporation)). 

“Mainsail Related Parties” means Mainsail Partners III, L.P., a Delaware limited partnership, Mainsail Incentive Program,
LLC, and Mainsail Co-Investors III, L.P. and their Affiliates. 
 “Mainsail
Representative” means Mainsail Partners III, L.P., a Delaware limited partnership or another Mainsail Related Party designated in writing by the existing Mainsail Representative to the Corporation and the LLC. 

“Market Value” means the Common Unit Redemption Price, as defined in the Operating Agreement. 

“Material Breach” means the (i) material breach by the Corporation of a material obligation under this Agreement that
cannot be cured or has not been cured within twenty (20) Business Days after the Corporation receives notice thereof from any Member or (ii) the rejection of this Agreement by operation of law in a case commenced in bankruptcy or
otherwise. 
 “Members” is defined in the recitals to this Agreement. 

“Net Tax Benefit” is defined in Section 3.1(b)(ii). 

“Non-Adjusted Tax Basis” means, with respect to any Reference Asset at any time, the
tax basis that such asset would have had at such time if no Basis Adjustments had been made. 
 “Objection Notice” is
defined in Section 2.4(a)(ii). 
 “Operating Agreement” means that certain Amended and Restated
Limited Liability Company Agreement of the LLC, dated as of the date hereof, as such agreement may be further amended, restated, supplemented or otherwise modified from time to time. 

“Parties” means the parties named on the signature pages to this agreement and each additional party that satisfies the
Joinder Requirement, in each case with their respective successors and assigns. 
 “Payment” means any Tax Benefit Payment
or Early Termination Payment and in each case, unless otherwise specified, refers to the entire amount of such Payment or any portion thereof. 

  
 8 

 “Permitted Transfer” means the transfer of Units by a holder of Units to
any transferee as permitted by the Operating Agreement. 
 “Permitted Transferee” means a holder of Units pursuant to a
Permitted Transfer. 
 “Person” means any individual, corporation, firm, partnership, joint venture, limited liability
company, estate, trust, business association, organization, governmental entity or other entity. 

“Pre-Exchange Transfer” means any transfer of one or more Units (including upon the
death of a Member) (i) that occurs after the IPO but prior to an Exchange of such Units and (ii) to which Section 743(b) of the Code applies. 

“Realized Tax Benefit” is defined in Section 3.1(b)(iv). 

“Realized Tax Detriment” is defined in Section 3.1(b)(v). 

“Reconciliation Dispute” is defined in Section 7.8(a). 

“Reconciliation Procedures” is defined in Section 7.8(a). 

“Redemption” is defined in the recitals to this Agreement. 

“Reference Asset” means any tangible or intangible asset of any member of the LLC Group at the time of an Exchange. A
Reference Asset also includes any asset the tax basis of which is determined, in whole or in part, by reference to the tax basis of an asset that is described in the preceding sentence, including any “substituted basis property” within the
meaning of Section 7701(a)(42) of the Code with respect to a Reference Asset. 
 “Schedule” means any of the
following: (i) a Basis Schedule, (ii) a Tax Benefit Schedule, and (iii) an Early Termination Schedule and, in each case, any amendments thereto. 

“Senior Obligations” is defined in Section 5.1. 

“Subsidiary” means, with respect to any Person and as of any determination date, any other Person as to which such first
Person (i) owns, directly or indirectly, or otherwise controls, more than 50% of the voting power or other similar interests of such other Person or (ii) is the sole general partner interest, or managing member or similar interest, of such
other Person. 
 “Subsidiary Stock” means any stock or other equity interest in any Subsidiary of the Corporation that is
treated as a corporation for U.S. federal income tax purposes. 
 “Tax Benefit Payment” is defined in
Section 3.1(b). 
 “Tax Benefit Schedule” is defined in Section 2.3(a).

  
 9 

 “Tax Return” means any return, declaration, report or similar statement
filed or required to be filed with respect to taxes (including any schedules or other attachments thereto), including any information return, claim for refund, amended return and declaration of estimated tax. 

“Taxable Year” means a taxable year of the Corporation as defined in Section 441(b) of the Code or any comparable
provisions of U.S. state or local tax Law, as applicable (and, therefore, for the avoidance of doubt, may include a period of less than 12 months for which a Tax Return is filed), ending on or after the date of the Effective Time. 

“Taxing Authority” means any national, federal, state, county, municipal or local government, or any subdivision, agency,
commission or authority thereof, or any quasi-governmental body, or any other authority of any kind, exercising regulatory or other authority in relation to tax matters. 

“Treasury Regulations” means the final, temporary and (to the extent they can be relied upon) proposed regulations under the
Code, as promulgated from time to time (including corresponding provisions and succeeding provisions) and as in effect for the relevant taxable period. 

“U.S.” means the United States of America. 

“Units” means Common Units, as defined in the Operating Agreement. 

“Valuation Assumptions” means, as of an Early Termination Effective Date, the assumptions that: 

(i) subject to clause (ii) below, in each Taxable Year ending on or after such Early Termination Effective Date, the
Corporation will have taxable income sufficient to fully use the deductions arising from the Basis Adjustments and the Imputed Interest during such Taxable Year or future Taxable Years (including, for the avoidance of doubt, Basis Adjustments and
Imputed Interest that would result from future Tax Benefit Payments that would be paid in accordance with the Valuation Assumptions) in which such deductions would become available; 

(ii) the U.S. federal income tax rates that will be in effect for each such Taxable Year will be those specified for each such
Taxable Year by the Code and other applicable Law as in effect on the Early Termination Effective Date, except to the extent any change to such tax rates for such Taxable Year have already been enacted into Law and the taxable income of the
Corporation will be subject to such maximum applicable tax rates for each Covered Tax; provided that, the combined U.S. state and local income tax rates shall be the Assumed State and Local Tax Rate applicable to the Taxable Year that includes the
Early Termination Effective Date; 

  
 10 

 (iii) any loss carryovers or carrybacks (without duplication) generated by
any Basis Adjustment or Imputed Interest (including any such Basis Adjustment or Imputed Interest generated as a result of payments made or deemed to be made under this Agreement) and available (taking into account any known and applicable
limitations) as of the Early Termination Effective Date will be used by the Corporation ratably from such Early Termination Effective Date through (A) the scheduled expiration date of such loss carryovers (if any) or (B) if there is no
such scheduled expiration, then the Taxable Year that includes the fifth (5th) anniversary of the Early Termination Effective Date (by way of example, if on the Early Termination Effective Date the Corporation had $100 of net operating losses that
is scheduled to expire in 10 years, $10 of such net operating losses would be used in each of the 10 consecutive Taxable Years beginning in the Taxable Year that includes such Early Termination Effective Date); 

(iv) any non-amortizable assets (other than Subsidiary Stock) will be disposed of on
the fifteenth (15th) anniversary of the later of (i) the applicable Exchange giving rise to a Basis Adjustment with respect to such assets and (ii) the Early Termination Effective Date; 

(v) any Subsidiary Stock will be deemed never to be disposed of except if Subsidiary Stock is directly disposed of in the
Change of Control; 
 (vi) if, on the Early Termination Effective Date, any Member has Units that have not been Exchanged,
then such Units shall be deemed to be Exchanged for the Market Value of the shares of Class A Common Stock (or Class D Common Stock, the Market Value of which shall be deemed equal to that of Class A Common Stock for this purpose) or
the amount of cash that would be received by such Member, whichever is lower, had such Units actually been Exchanged on the Early Termination Effective Date; and 

(vii) any future payment obligations pursuant to this Agreement will be satisfied on the date that any Tax Return to which any
such payment obligation relates is required to be filed, excluding any extensions. 
 “Voluntary Early Termination” is
defined in Section 4.2(a). 
 Section 1.2. Rules of Construction. Unless otherwise specified
herein: 
 (a) For purposes of interpretation of this Agreement: 

(i) The words “herein,” “hereto,” “hereof” and “hereunder” and words of similar import
when used in this Agreement shall refer to this Agreement as a whole and not to any particular provision thereof. 
 (ii)
Unless specified otherwise, references to an Article, Section or clause refer to the appropriate Article, Section or clause in this Agreement. 

(iii) References to dollars or “$” refer to the lawful currency of the U.S. 

(iv) The terms “include” or “including” are by way of example and not limitation and shall be deemed
followed by the words “without limitation”. 

  
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 (v) The term “or”, when used in a list of two or more items, means
“and/or” and may indicate any combination of the items. 
 (vi) The term “documents” includes any and all
instruments, documents, agreements, certificates, notices, reports, financial statements and other writings, however evidenced, whether in physical or electronic form. 

(b) In the computation of periods of time from a specified date to a later specified date, the word “from” means “from and
including”, the words “to” and “until” each mean “to but excluding” and the word “through” means “to and including.” 

(c) Section headings herein are included for convenience of reference only and shall not affect the interpretation of this Agreement. 

(d) Unless otherwise expressly provided herein, (i) references to organizational documents (including the Operating Agreement), agreements
(including this Agreement) and other contractual instruments means such organization documents, agreements and other contractual instruments as amended or otherwise modified from time to time in accordance with the terms thereof, and if applicable
hereof, and (ii) references to any Law (including the Code and the Treasury Regulations) include all statutory and regulatory provisions consolidating, amending, replacing, supplementing or interpreting such Law. 

ARTICLE II 
 Determination of
Realized Tax Benefit 
 Section 2.1. Basis Adjustments; LLC 754 Election. 

(a) Basis Adjustments. The Parties acknowledge and agree that (i) each Redemption using cash, Class A Common Stock or
Class D Common Stock contributed to the LLC by the Corporation shall be treated as a direct purchase of Units by the Corporation from the applicable Member pursuant to Section 707(a)(2)(B) of the Code (or any similar provisions of
applicable U.S. state or local tax Law) (i.e., equivalent to a Direct Exchange) and (ii) each Exchange will give rise to Basis Adjustments. For the avoidance of doubt, payments made under this Agreement shall not be treated as resulting
in a Basis Adjustment to the extent that such payments are treated as deductible interest for U.S. federal income tax purposes or as other than consideration for Units for U.S. federal income tax purposes. 

(b) LLC Section 754 Election. In its capacity as the Manager (as defined in the Operating Agreement), the Corporation
shall cause the LLC and each of its Subsidiaries that is treated as a partnership for U.S. federal income tax purposes to have in effect an election under Section 754 of the Code (or any similar provisions of applicable U.S. state or local tax
Law) for each Taxable Year in which an Exchange occurs and with respect to which the Corporation has obligations under this Agreement, including for the Taxable Year that includes the date hereof. The Corporation shall take commercially reasonable
efforts to cause each Person in which the LLC owns a direct or indirect equity interest (other than a Subsidiary) that is so treated as a partnership to have in effect any such election for each Taxable Year. 

  
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 Section 2.2. Basis Schedules. Within ninety (90) calendar days after
the filing of the U.S. federal income Tax Return of the Corporation for each relevant Taxable Year, the Corporation shall deliver to the Mainsail Representative and the Just Rocks Representative a schedule showing, in reasonable detail as necessary
in order to understand and as necessary to perform the calculations required by this Agreement, (a) the Non-Adjusted Tax Basis of the Reference Assets as of each applicable Exchange Date, (b) the
Basis Adjustments to the Reference Assets for such Taxable Year, (c) the periods over which the Reference Assets are amortizable or depreciable and (d) the period over which each Basis Adjustment is amortizable or depreciable (such
schedule, a “Basis Schedule”). A Basis Schedule will become final and binding on the Parties pursuant to the procedures set forth in Section 2.4(a) and may be amended by the Parties pursuant to the
procedures set forth in Section 2.4(a). 
 Section 2.3. Tax Benefit Schedules. 

(a) Tax Benefit Schedule. Within ninety (90) calendar days after the filing of the U.S. federal income Tax Return of the
Corporation for any Taxable Year in which there is a Realized Tax Benefit or Realized Tax Detriment, the Corporation shall provide to the Mainsail Representative and the Just Rocks Representative a schedule showing, in reasonable detail, the
calculation of the Realized Tax Benefit or Realized Tax Detriment for such Taxable Year (a “Tax Benefit Schedule”). For the avoidance of doubt, any Tax Benefit Schedule shall include the applied Assumed State and Local Tax Rate and
describe any basis for any change in the Assumed State and Local Tax Rate from the rate specified herein. A Tax Benefit Schedule will become final and binding on the Parties pursuant to the procedures set forth in
Section 2.4(a) and may be amended by the Parties pursuant to the procedures set forth in Section 2.4(a). 

(b) Applicable Principles. Subject to the provisions of this Agreement, the Realized Tax Benefit or Realized Tax Detriment for each
Taxable Year is intended to measure the decrease or increase in the actual liability of the Corporation for Covered Taxes for such Taxable Year attributable to the Basis Adjustments, Imputed Interest, Actual Interest Amounts and Default Rate
Interest as determined using a “with and without” methodology described in Section 2.4(a). Carryovers or carrybacks of any tax item attributable to any Basis Adjustment, Imputed Interest, Actual Interest Amounts,
and Default Rate Interest shall be considered to be subject to the rules of the Code and the Treasury Regulations, and the appropriate provisions of U.S. state and local tax Law, governing the use, limitation or expiration of carryovers or
carrybacks of the relevant type. If a carryover or carryback of any tax item includes a portion that is attributable to a Basis Adjustment, Imputed Interest, Actual Interest Amounts and Default Interest (a “TRA Portion”) and another
portion that is not (a “Non-TRA Portion”), such portions shall be considered to be used in accordance with the “with and without” methodology so that the amount of any Non-TRA Portion is deemed utilized first, followed by the amount of any TRA Portion (with the TRA Portion being applied on a proportionate basis consistent with the provisions of
Section 3.3(a)) and (ii) in the case of a carryback of a Non-TRA Portion, such carryback shall not affect the original “with and without” calculation made in the prior
Taxable Year. The Parties agree that all Tax Benefit Payments attributable to an Exchange will, to the extent permitted by applicable Law (A) be treated as subsequent upward purchase price adjustments with respect to the relevant Units
purchased by the Corporation from the applicable Members and (B) give rise to further Basis Adjustments for the Corporation in the year of payment, and as a result, such additional Basis Adjustments will be incorporated into the calculations
contemplated hereunder for such Taxable Year and into future Taxable Years, as appropriate, continuing until any incremental Basis Adjustments are immaterial as reasonably determined by the Corporation, the Just Rocks Representative, and the
Mainsail Representative. 

  
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 Section 2.4. Procedures; Amendments. 

(a) Procedures. Each time the Corporation delivers a Schedule to the Mainsail Representative and the Just Rocks Representative under
this Agreement, including any Amended Schedule delivered pursuant to Section 2.4(b), the Corporation shall, with respect to such Schedule, also (i) deliver supporting schedules and work papers, as determined by the
Corporation or as reasonably requested by the Mainsail Representative or the Just Rocks Representative, that provide a reasonable level of detail regarding relevant data and calculations that were relevant for purposes of preparing the Schedule and
(ii) allow the Mainsail Representative and the Just Rocks Representative and their respective advisors to have reasonable access to the appropriate representatives, as determined by the Corporation or as reasonably requested by the Mainsail
Representative or the Just Rocks Representative, at the Corporation or at the Advisory Firm in connection with a review of relevant information. Without limiting the generality of the preceding sentence, the Corporation shall ensure that any Tax
Benefit Schedule that is delivered to the Mainsail Representative or the Just Rocks Representative, along with any supporting schedules and work papers, provides a reasonably detailed presentation of the calculations of the Actual Tax Liability for
the relevant Taxable Year (the “with” calculation) and the Hypothetical Tax Liability for such Taxable Year (the “without” calculation), and identifies any material assumptions or operating procedures or principles that were used
for purposes of such calculations. A Schedule will become final and binding on the Parties thirty (30) calendar days from the date on which the Mainsail Representative and the Just Rocks Representative first received the applicable Schedule
unless the Mainsail Representative or the Just Rocks Representative, within such period, provides the Corporation with written notice of a material objection (made in good faith) to such Schedule and sets forth in reasonable detail the material
objection(s) (an “Objection Notice”) or each of the Mainsail Representative and the Just Rocks Representative provides a written waiver to the Corporation of its right to give an Objective Notice within such period, in which case
such Schedule becomes final and binding on the date the Corporation has received waivers from each of the Mainsail Representative and the Just Rocks Representative. If the Parties, for any reason, are unable to resolve the issues raised in such
Objection Notice within thirty (30) calendar days after receipt by the Corporation of the Objection Notice, the Corporation and the Mainsail Representative or the Just Rocks Representative, as applicable, shall employ the Reconciliation
Procedures described in Section 7.8 and the finalization of the Schedule will be conducted in accordance therewith. 

(b) Amended Schedule. A Schedule (other than an Early Termination Schedule) for any Taxable Year may only and shall be amended from time
to time by the Corporation (i) in connection with a Determination affecting such Schedule, (ii) to correct inaccuracies in such Schedule, including those identified as a result of the receipt of additional factual information relating to a
Taxable Year after the date such Schedule was originally provided to the Mainsail Representative and the Just Rocks Representative, (iii) to comply with an Expert’s determination under the Reconciliation Procedures, (iv) to reflect a
change in the 

  
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Realized Tax Benefit or Realized Tax Detriment for such Taxable Year attributable to a carryover or carryback of a loss or other Tax item to such Taxable Year, (v) to reflect a change in the
Realized Tax Benefit or Realized Tax Detriment for such Taxable Year attributable to an amended Tax Return filed for such Taxable Year, or (vi) to adjust an applicable Basis Schedule to take into account any Tax Benefit Payments made pursuant
to this Agreement (any such Schedule in its amended form, an “Amended Schedule”). The Corporation shall provide any Amended Schedule to the Mainsail Representative and the Just Rocks Representative when the Corporation delivers the
next Basis Schedule after the occurrence of an event described in clauses (i) through (vi) (or, in the sole discretion of the Corporation, at an earlier date), and the delivery and finalization of any such Amended Schedule shall, for the
avoidance of doubt, be subject to the procedures described in Section 2.4(a). In the event a Schedule is amended after such Schedule becomes final pursuant to Section 2.4(a) or, if applicable,
Section 7.8, the Amended Schedule shall be taken into account in calculating the Cumulative Net Realized Tax Benefit for the Taxable Year in which the amendment actually occurs; provided, that with respect to any Amended
Schedule relating to an event described in clauses (ii), (iii) and (v), such calculation shall compute the Interest Amount in accordance with Section 3.1(b)(vi), and with respect to all Amended Schedules, the Final Payment Date for purposes of
computing the Interest Amount and any Default Rate Interest shall be five (5) Business Days following the date on which such Amended Schedule becomes final in accordance with Section 2.4(a). 

ARTICLE III 
 Tax Benefit
Payments 
 Section 3.1. Timing and Amount of Tax Benefit Payments. 

(a) Timing of Payments. Subject to Sections 3.2 and 3.3, by the date that is ten (10) Business
Days following the date on which each Tax Benefit Schedule or Amended Schedule becomes final in accordance with Section 2.4(a) or Section 7.8, if applicable (such date, the “Final Payment Date” in
respect of any Tax Benefit Payment), the Corporation shall pay in full to each relevant Member the Tax Benefit Payment as determined pursuant to Section 3.1(b) for the applicable Taxable Year. Each such Tax Benefit Payment
shall be made by wire transfer or other electronic payment method of immediately available funds to a bank account or accounts designated by such Member. Without limiting the Corporation’s ability to make offsets against Tax Benefit Payments to
the extent permitted under Section 3.4 or Section 7.8, no Member shall be required under any circumstances to return any Payment or any Default Rate Interest paid by the Corporation to such Member.

 (b) Amount of Payments. For purposes of this Agreement, a “Tax Benefit Payment” with respect to any Member means
an amount, not less than zero, equal to the sum of the Net Tax Benefit that is Attributable to such Member and the Interest Amount. No Tax Benefit Payment shall be calculated or made in respect of any estimated tax payments, including any estimated
U.S. federal income tax payments. 
 (i) Attributable. A Net Tax Benefit is “Attributable” to a
Member to the extent that it is derived from any Basis Adjustment, Imputed Interest, Actual Interest Amount or Default Rate Interest arising as a result of an Exchange undertaken by or with respect to such Member. 

  
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 (ii) Net Tax Benefit. The “Net Tax Benefit” with
respect to a Member for a Taxable Year equals the amount of the excess, if any, of (A) 85% of the Cumulative Net Realized Tax Benefit Attributable to such Member as of the end of such Taxable Year over (B) the aggregate amount of all Tax
Benefit Payments previously made to such Member under this Section 3.1 (excluding payments attributable to Interest Amounts). 

(iii) Cumulative Net Realized Tax Benefit. The “Cumulative Net Realized Tax Benefit” for a Taxable Year
equals the cumulative amount of Realized Tax Benefits for all Taxable Years of the Corporation, up to and including such Taxable Year, net of the cumulative amount of Realized Tax Detriments for the same period. The Realized Tax Benefit and Realized
Tax Detriment for each Taxable Year shall be determined based on the most recent Tax Benefit Schedule or Amended Schedule, if any, in existence at the time of such determination. 

(iv) Realized Tax Benefit. The “Realized Tax Benefit” for a Taxable Year equals the excess, if any, of
the Hypothetical Tax Liability over the Actual Tax Liability for such Taxable Year. If all or a portion of the Actual Tax Liability for such Taxable Year arises as a result of an audit or similar proceeding by a Taxing Authority of any Taxable Year,
such liability and the corresponding Hypothetical Tax Liability shall not be included in determining the Realized Tax Benefit unless and until there has been a Determination. 

(v) Realized Tax Detriment. The “Realized Tax Detriment” for a Taxable Year equals the excess, if any,
of the Actual Tax Liability over the Hypothetical Tax Liability for such Taxable Year. If all or a portion of the Actual Tax Liability for such Taxable Year arises as a result of an audit or similar proceeding by a Taxing Authority of any Taxable
Year, such liability and the corresponding Hypothetical Tax Liability shall not be included in determining the Realized Tax Detriment unless and until there has been a Determination. 

(vi) Imputed Interest. The parties acknowledge that a portion of any Net Tax Benefit payable by the Corporation to a
Member under this Agreement to be treated as Imputed Interest. For the avoidance of doubt, the deduction for the amount of Imputed Interest as determined with respect to any Net Tax Benefit payable by the Corporation to a Member shall be excluded in
determining the Hypothetical Tax Liability of the Corporation for purposes of calculating Realized Tax Benefits and Realized Tax Detriments pursuant to this Agreement. 

(vii) Actual Interest Amount. The “Actual Interest Amount” in respect of a Member equals interest on
the unpaid amount of the Net Tax Benefit with respect to such Member for a Taxable Year, calculated at the Agreed Rate from the due date (without extensions) for filing the U.S. federal income Tax Return of the Corporation for such Taxable Year
until the earlier of (A) the date on which no remaining Tax Benefit Payment to the Member is due in respect of such Net Tax Benefit and (B) the applicable Final Payment Date. 

  
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 (viii) The Parties acknowledge and agree that, as of the date of this
Agreement and as of the date of any future Exchange that may be subject to this Agreement, the aggregate value of the Tax Benefit Payments cannot be reasonably ascertained for U.S. federal income or other applicable tax purposes. Notwithstanding
anything to the contrary in this Agreement, unless the applicable Member notifies the Corporation otherwise, the stated maximum selling price (within the meaning of Treasury Regulation 15A.453-1(c)(2)) with
respect to any transfer of Units by a Member pursuant to an Exchange shall not exceed the sum of (A) the value of the Class A Common Stock or Class D Common Stock or the amount of cash delivered to the Member, in each case, in the
Exchange plus (B) 150% of the Basis Adjustment relating to such Exchange, and the aggregate Payments under this Agreement to such Member with respect to such Exchange (other than amounts accounted for as interest under the Code) shall not exceed the
amount described in this clause (B). 
 (c) Interest. The parties intend that interest will effectively accrue in respect of the Net
Tax Benefit for any Taxable Year as follows: 
 (i) first, at the applicable rate used to determine the amount of Imputed
Interest under the Code (from the relevant Exchange Date until the due date (without extensions) for filing the U.S. federal income Tax Return of the Corporation for such Taxable Year and, if required under applicable law, through the Final Payment
Date for a Tax Benefit Payment as determined pursuant to Section 3.1(a)); 
 (ii) second, at the
Agreed Rate (from the due date (without extensions) for filing the U.S. federal income Tax Return of the Corporation for such Taxable Year until the Final Payment Date for a Tax Benefit Payment as determined pursuant to
Section 3.1(a)); and 
 (iii) third, at the Default Rate (from the Final Payment Date for a Tax
Benefit Payment as determined pursuant to Section 3.1(a) until the date on which the Corporation makes the relevant Tax Benefit Payment to a Member). 

Section 3.2. No Duplicative Payments. It is intended that the provisions of this Agreement will not result in the
duplicative payment of any amount (including interest) that may be required under this Agreement. The provisions of this Agreement shall be consistently interpreted and applied in accordance with that intent. 

Section 3.3. Pro-Ration of Payments as Between the Members. 

(a) Insufficient Taxable Income. Notwithstanding anything in Section 3.1(b) to the contrary, if the aggregate
Tax benefits with respect to the Basis Adjustments, Actual Interest Amounts, and Default Rate Interest and Imputed Interest (the “Covered Tax Benefit”) (in each case, without regard to the Taxable Year of origination) is limited in
a particular Taxable Year because the Corporation does not have sufficient actual taxable income, then the available Covered Tax Benefit for the Corporation shall be allocated 

  
 17 

 
among the Members in proportion to the respective Tax Benefit Payment that would have been payable if the Corporation had sufficient taxable income. For example, if the Corporation had $200 of
potential Covered Tax Benefits with respect to the Basis Adjustments and Imputed Interest in a particular Taxable Year (with $50 of such Covered Tax Benefits attributable to Member A and $150 attributable to Member B), such that Member A would have
been entitled to a Tax Benefit Payment of $42.50 and Member B would have been entitled to a Tax Benefit Payment of $127.50 if the Corporation had sufficient actual taxable income, and if the Corporation instead had insufficient actual taxable income
in such Taxable Year, such that the Covered Tax Benefit was limited to $100, then $25 of the aggregate $100 actual Covered Tax Benefit for the Corporation for such Taxable Year would be allocated to Member A and $75 would be allocated to Member B,
such that Member A would receive a Tax Benefit Payment of $21.25 and Member B would receive a Tax Benefit Payment of $63.75. 
 (b) Late
Payments. If for any reason the Corporation is not able to fully satisfy its payment obligations to make all Tax Benefit Payments due in respect of a particular Taxable Year, then (i) Default Rate Interest will accrue pursuant to
Section 5.2, (ii) the Corporation shall pay the available amount of such Tax Benefit Payments (and any applicable Default Rate Interest) in respect of such Taxable Year to each Member pro rata in line with
Section 3.3(a) and (iii) no Tax Benefit Payment shall be made in respect of any Taxable Year until all Tax Benefit Payments (and any applicable Default Rate Interest) to all Members in respect of all prior Taxable
Years have been made in full. 
 Section 3.4. Overpayments. Subject to the procedures described in
Section 2.4(a), to the extent the Corporation makes a payment to a Member in respect of a particular Taxable Year under Section 3.1(a) in an amount in excess of the amount of such payment that
should have been made to such Member in respect of such Taxable Year (taking into account Section 3.3) under the terms of this Agreement, then such Member shall not receive further payments under
Section 3.1(a) until such Member has foregone an amount of payments equal to such excess; provided, that for the avoidance of the doubt, no Member shall be required to return any Payment or any Default Rate Interest paid by
the Corporation to such Member. 
 Section 3.5. Optional Estimated Tax Benefit Payment Procedure. As long as the Corporation is
current in respect of its payment obligations owed to each Member pursuant to this Agreement and there are no delinquent Tax Benefit Payments (including interest thereon) outstanding in respect of prior Taxable Years for any Member, the Corporation
may, at any time on or after the due date (without extensions) for filing the U.S. federal income Tax Return of the Corporation for a Taxable Year and at the Corporation’s option, in its sole discretion, make one or more estimated payments to
the Members in respect of any anticipated amounts to be owed with respect to a Taxable Year to the Members pursuant to Section 3.1 of this Agreement (any such estimated payments referred to as an “Estimated Tax
Benefit Payment”); provided that any Estimated Tax Benefit Payment made to a Member pursuant to this Section 3.5 is matched by a proportionately equal Estimated Tax Benefit Payment to all other Members then
entitled to a Tax Benefit Payment. Any Estimated Tax Benefit Payment made under this Section 3.5 shall be paid by the Corporation to the Members and applied against the final amount of any Tax Benefit Payment to be made
pursuant to Section 3.1. The payment of an Estimated Tax Benefit Payment by the Corporation to the Members pursuant to this Section 3.5 shall also terminate the obligation of the Corporation to
make payment of any 

  
 18 

 
Actual Interest Amount that might have otherwise accrued with respect to the proportionate amount of the Tax Benefit Payment that is being paid in advance of the applicable Tax Benefit Schedule
being finalized pursuant to Section 2.4. Upon the making of any Estimated Tax Benefit Payment pursuant to this Section 3.5, the amount of such Estimated Tax Benefit Payment shall first be applied
to any estimated Actual Interest Amount, then to Imputed Interest, and then applied to the remaining residual amount of the Tax Benefit Payment to be made pursuant to Section 3.1. In determining the final amount of any Tax
Benefit Payment to be made pursuant to Section 3.1, and for purposes of finalizing the Tax Benefit Schedule pursuant to Section 2.5, the amount of any Estimated Tax Benefit Payments that may have been made with respect
to the Taxable Year shall be increased, if the finally determined Tax Benefit Payment for a Taxable Year exceeds the Estimated Tax Benefit Payments made for such Taxable Year, with such increase being paid by the Corporation to the Members along
with an appropriate Actual Interest Amount in respect of the amount of such increase (a “True-Up”). If the Estimated Tax Benefit Payment to a Member for a Taxable Year exceeds the finally
determined Tax Benefit Payment to the Member for such Taxable Year, such excess, along with an appropriate Actual Interest Amount in respect of such excess (being charged by the Corporation to the Member), shall be applied to reduce the amount of
any subsequent future Tax Benefit Payments (including Estimated Tax Benefit Payments, if any) to be paid by the Corporation to such Member. As of the date on which any Estimated Tax Benefit Payments are made, and as of the date on which any True-Up is made, all such payments shall be made in the same manner and subject to the same terms and conditions as otherwise contemplated by Section 3.1 and all other applicable terms of
this Agreement. For the avoidance of doubt, as is the case with Tax Benefit Payments made by the Corporation to the Members pursuant to Section 3.1, the amount of any Estimated Tax Benefit Payments made pursuant to this
Section 3.5 that are attributable to an Exchange shall also be treated, in part, as subsequent upward purchase price adjustments that give rise to Basis Adjustments in the Taxable Year of payment to the extent permitted by
applicable law and as of the date on which such payments are made; provided that any additional Basis Adjustments arising from an Estimated Tax Benefit Payment will be determined on an iterative basis continuing until any incremental Basis
Adjustments are immaterial as reasonably determined by the Corporation, the Just Rocks Representative, and the Mainsail Representative. 

ARTICLE IV 
 Termination

 Section 4.1. Early Termination of Agreement; Acceleration Events. 

(a) Corporation’s Early Termination Right. With the written approval of a majority of the Independent Directors, the
Corporation may terminate this Agreement, as and to the extent provided herein, by paying in full each and every Member the Early Termination Payment (along with any applicable Default Rate Interest) due to such Member. 

(b) Acceleration upon Change of Control. In the event of a Change of Control, the Early Termination Payment (calculated as if an Early
Termination Notice had been delivered on the date of the Change of Control) shall become due and payable in accordance with Section 4.3 and this Agreement shall terminate, as and to the extent provided herein. 

  
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 (c) Acceleration upon Breach of Agreement. In the event of a Material Breach, unless
otherwise waived in writing by both the Just Rocks Representative and the Mainsail Representative, the Early Termination Payment (calculated as if an Early Termination Notice had been delivered on the date of the Material Breach) shall become due
and payable in accordance with Section 4.3 and the Agreement shall terminate, as and to the extent provided herein. Subject to the next sentence, the Corporation’s failure to make a Payment (along with any applicable
Default Rate Interest) within ninety (90) calendar days of the applicable Final Payment Date (except for all or a portion of such Payment that is being validly disputed in good faith under this Agreement, and then only with respect to the
amount in dispute) shall be deemed to constitute a Material Breach. To the extent that any Tax Benefit Payment is not made by the date that is ninety (90) calendar days after the relevant Final Payment Date because the Corporation (i) is
prohibited from making such payment under Section 5.1 or the terms of any agreement governing any Senior Obligations or (ii) does not have, and despite using commercially reasonable efforts cannot obtain, sufficient
funds to make such payment, such failure will not constitute a Material Breach; provided that (A) such payment obligation nevertheless will accrue for the benefit of the Members, (B) the Corporation shall promptly (and in any
event, within twenty (20) Business Days) pay the entirety of the unpaid amount (along with any applicable Default Rate Interest) once the Corporation is not prohibited from making such payment under Section 5.1 or the
terms of the agreements governing the Senior Obligations and the Corporation has sufficient funds to make such payment and (C) the failure of the Corporation to take actions contemplated in clause (B) will constitute a Material Breach;
provided further that that the interest provisions of Section 5.2 shall apply to such late payment, but, if such a failure of the Corporation to make a payment is the result of the Corporation being prohibited
from making such payment under Section 5.1 or the terms of any agreement governing any Senior Obligations, the Default Rate shall be replaced by the Agreed Rate. It shall be a Material Breach if the Corporation makes any
distribution of cash or other property (other than shares of Class A Common Stock) to its stockholders or uses cash or other property to repurchase any capital stock of the Corporation (including Class A Common Stock), in each case, before
(x) all Tax Benefit Payments (along with any applicable Default Rate Interest) that are due and payable as of the date the Corporation enters into a binding commitment to make such distribution or repurchase have been paid or
(y) sufficient funds for the payment of all Tax Benefit Payments (along with any applicable Default Rate Interest) that are due and payable on the date of the distribution or repurchase have been reserved therefor. The Corporation shall use
commercially reasonable efforts to (1) obtain sufficient available funds for the purpose of making Tax Benefit Payments under this Agreement and (2) avoid entering into any agreements that could be reasonably anticipated to materially
delay the timing of the making of any Tax Benefit Payments under this Agreement. 
 (d) In the case of a termination pursuant to any of the
foregoing paragraphs (a), (b) or (c), upon the Corporation’s payment in full of the Early Termination Payment (along with any applicable Default Rate Interest) to each Member, the Corporation shall have
no further payment obligations under this Agreement other than with respect to any Tax Benefit Payments (along with any applicable Default Rate Interest) in respect of any Taxable Year ending prior to the Early Termination Effective Date, and such
payment obligations shall survive the termination of, and be calculated and paid in accordance with, this Agreement. If an Exchange subsequently occurs with respect to Units for which the Corporation has paid the Early Termination Payment in full,
the Corporation shall have no obligations under this Agreement with respect to such Exchange. 

  
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 Section 4.2. Early Termination Notice. 

(a) If (i) the Corporation chooses to exercise its termination right under Section 4.1(a) (“Voluntary
Early Termination”), (ii) a Change of Control has or is reasonably expected to occur or (iii) a Material Breach occurs, the Corporation shall, in each case, deliver to the Mainsail Representative and the Just Rocks Representative a
reasonably detailed notice of the Corporation’s decision to exercise such right or the occurrence of such event, as applicable (an “Early Termination Notice”). In the case of an Early Termination Notice delivered with respect
to a Voluntary Early Termination, the Corporation may withdraw such Early Termination Notice and rescind its Voluntary Early Termination at any time prior to the time at which any Early Termination Payment is paid. 

(b) The Corporation shall deliver a schedule showing in reasonable detail the calculation of the Early Termination Payment (an “Early
Termination Schedule”) (i) simultaneously with the delivery of an Early Termination Notice or (ii) in the case of a termination pursuant to Section 4.1(b) or Section 4.1(c), as
soon as reasonably practicable following the occurrence of the Change of Control or Material Breach giving rise to such termination. For the avoidance of doubt, the procedures set forth in Section 2.4(a) shall apply with
respect to an Early Termination Schedule. The date on which such Early Termination Schedule becomes final in accordance with Section 2.4(a) shall be the “Early Termination Reference Date”. 

Section 4.3. Payment upon Early Termination. 

(a) Timing of Payment. By the date that is ten (10) Business Days after the Early Termination Reference Date (such date, the
“Final Payment Date” in respect of the Early Termination Payment), the Corporation shall pay in full to each Member an amount equal to the Early Termination Payment Attributable to such Member. Such Early Termination Payment shall
be made by the Corporation by wire transfer or other electronic payment method of immediately available funds to a bank account or accounts designated by the applicable Member. 

(b) Amount of Payment. The “Early Termination Payment” payable to a Member pursuant to
Section 4.3(a) shall equal the present value, discounted at the Agreed Rate and determined as of the Early Termination Reference Date, of all Tax Benefit Payments (other than any Tax Benefit Payments in respect of Taxable
Years ending prior to the Early Termination Effective Date) that would be required to be paid by the Corporation to such Member, beginning from the Early Termination Effective Date and using the Valuation Assumptions. For the avoidance of doubt, an
Early Termination Payment shall be made to each Member in accordance with this Agreement, regardless of whether such Member has Exchanged all of its Units as of the Early Termination Effective Date. 

  
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 ARTICLE V 

Subordination and Late Payments 

Section 5.1. Subordination. Notwithstanding any other provision of this Agreement to the contrary, any Payment required to
be made by the Corporation to the Members under this Agreement shall rank subordinate and junior in right of payment to any principal, interest or other amounts due and payable in respect of any obligations owed in respect of indebtedness for
borrowed money of the Corporation (but excluding, for the avoidance of doubt, any trade payables, intercompany debt or other similar obligations) (“Senior Obligations”) and shall rank pari passu in right of payment with all
current or future obligations of the Corporation that are not Senior Obligations. To the extent that any Payment is not permitted to be made at the time payment is due as a result of this Section 5.1 and the terms of the agreements governing
Senior Obligations, such Payment nevertheless shall accrue for the benefit of the Members and the Corporation shall make such payments at the first opportunity that such payments are permitted to be made in accordance with the terms of the Senior
Obligations. 
 Section 5.2. Late Payments by the Corporation. Subject to the proviso in the third sentence of
Section 4.1(c), the amount of any Payment not made to any Member by the applicable Final Payment Date shall be payable together with “Default Rate Interest”, calculated at the Default Rate and accruing on
the amount of the unpaid Payment from the applicable Final Payment Date until the date on which the Corporation makes such Payment to such Member; provided, further, that if any unpaid portion of any Tax Benefit Payment is the subject of a
Reconciliation Dispute and is finally determined in such Reconciliation Dispute to be due and payable, then interest shall accrue on such unpaid portion at the Default Rate (in place of the Agreed Rate) from the date that is thirty (30) days
following the due date for the applicable Tax Benefit Schedule until the date of actual payment. 
 ARTICLE VI 

Tax Matters; Consistency; Cooperation 

Section 6.1. Participation in the Corporation’s and the LLC’s Tax Matters. Except as
otherwise provided herein or in Article IX of the Operating Agreement, the Corporation shall have full responsibility for, and sole discretion over, all tax matters concerning the Corporation or the LLC, including preparing, filing or amending any
Tax Return and defending, contesting or settling any issue pertaining to taxes; provided, however, that the Corporation shall not settle any issue pertaining to Covered Taxes that is reasonably expected to adversely affect the rights
and obligations of the Mainsail Related Parties or the Just Rocks Related Parties under this Agreement in any material respect without the consent of the Mainsail Representative or the Just Rocks Representative, as applicable, such consent not to be
unreasonably withheld or delayed. If the Mainsail Representative or the Just Rocks Representative fails to respond to any notice with respect to the settlement of any such issue within thirty (30) days of its receipt of the applicable notice,
the Mainsail Representative or the Just Rocks Representative, as applicable, shall be deemed to have consented to the proposed settlement or other disposition. Notwithstanding the foregoing, the Corporation shall notify the

  
 22 

 
Mainsail Representative and the Just Rocks Representative of, and keep them reasonably informed with respect to, the portion of any audit by any Taxing Authority of the Corporation, the LLC or
any of the LLC’s Subsidiaries, the outcome of which is reasonably expected to materially adversely affect the Members’ rights and obligations under this Agreement, and each of the Mainsail Representative and the Just Rocks Representative
shall have the right to participate in and to monitor at its own expense (but not to control) any such portion of any such audit; provided, that neither the Corporation nor the LLC shall be required to take any action, or refrain from taking
any action, that is inconsistent with any provision of the Operating Agreement. 
 Section 6.2. Consistency. Except upon
the written advice of the Advisory Firm and except for items that are explicitly described as “deemed” or treated in a similar manner by the terms of this Agreement, all calculations and determinations made hereunder, including any Basis
Adjustments, the Schedules and the determination of any Realized Tax Benefits or Realized Tax Detriments, shall be made in accordance with the elections, methodologies and positions taken by the Corporation and the LLC on their respective Tax
Returns. Each Member shall prepare its Tax Returns in a manner consistent with the terms of this Agreement and any related calculations or determinations made hereunder, including the terms of Section 2.1 and the Schedules
provided to each such Member, except as otherwise required by Law or a Determination. If the Corporation and any Member, for any reason, are unable to successfully resolve any disagreement with respect to the foregoing within sixty
(60) calendar days, the Corporation and such Member shall employ the Reconciliation Procedures under Section 7.8 or the Resolution of Dispute procedures under Section 7.7, as applicable, unless otherwise agreed by the Corporation and
such Member. In the event that an Advisory Firm is replaced with another Advisory Firm acceptable to the Audit Committee, the Parties shall cause such replacement Advisory Firm to perform its services necessitated by this Agreement using procedures
and methodologies consistent with those of the previous Advisory Firm, unless otherwise required by applicable Law or a Determination or unless the Corporation and all of the Members agree to the use of other procedures and methodologies. 

Section 6.3. Cooperation. 

(a) Each Member, on the one hand, and the Corporation, on the other hand, shall (i) furnish to the other in a timely manner such
information, documents and other materials as the other may reasonably request for purposes of making any determination or computation necessary or appropriate under this Agreement, preparing any Tax Return of or contesting or defending any related
audit, examination or controversy with any Taxing Authority, or estimating any future Tax Benefit Payments hereunder (ii) make itself available to the other and its representatives to provide explanations of documents and materials and such
other information as may be reasonably requested in connection with any of the matters described in clause (i) above and (iii) reasonably cooperate in connection with any such matter. Upon the request of any Member, the Corporation
shall use commercially reasonable efforts to cooperate in taking any action reasonably requested by such Member in connection with its tax or financial reporting and/or the consummation of any assignment or transfer of any of its rights and/or
obligations under this Agreement, including without limitation, providing any information or executing any documentation. 

  
 23 

 (b) The requesting party shall reimburse the other party for any reasonable and documented out-of-pocket third-party costs and expenses incurred by the other party pursuant to Section 6.3(a). 

ARTICLE VII 
 MISCELLANEOUS

 Section 7.1. Notices. All notices, requests, consents and other communications required or permitted hereunder
shall be in writing and (i) delivered personally, (ii) sent by e-mail or (iii) sent by overnight courier, in each case, addressed as follows: 

If to the Corporation, to: 

Brilliant Earth Group, Inc. 
 300
Grant Avenue, Third Floor 
 San Francisco, California 94108 

Telephone: (800) 691-0952 

Attn: Alex K. Grab, General Counsel 

E-mail: agrab@brilliantearth.com 

with a copy (which shall not constitute notice to the Corporation) to: 

Latham & Watkins LLP 

1271 Avenue of the Americas 
 New
York, New York 10020 
 Attn: Tad Freese, Haim Zaltzman, Kristen Grannis and Benjamin Cohen 

Facsimile: (212) 906-1623 

E-mail: tad.freese@lw.com, haim.zaltzman@lw.com, kristen.grannis@lw.com and
benjamin.cohen@lw.com 
 If to the Mainsail Representative, to: 

Mainsail Partners III, L.P. 
 500
West 5th Street, Suite 1100 
 Austin, Texas 78701 

Attn: Gavin Turner 
 E-mail: gavin@mainsailpartners.com 

  
 24 

 with a copy (which shall not constitute notice to the Mainsail Representative) to: 

Kirkland & Ellis LLP 

300 North LaSalle 
 Chicago,
Illinois 60654 
 Attn: Brian Van Klompenberg and Michael Keeley 

Facsimile: (312) 862-2200 

E-mail: bvanklompenberg@kirkland.com and michael.keeley@kirkland.com 

If to the Just Rocks Representative: 

Just Rocks, Inc. 
 300 Grant
Avenue, Third Floor 
 San Francisco, California 94108 

Attn: Beth Gerstein and Eric Grossman 

E-mail: beth@brilliantearth.com and eric@brilliantearth.com 

with a copy (which shall not constitute notice to the Just Rocks Representative) to: 

Latham & Watkins LLP 

1271 Avenue of the Americas 
 New
York, New York 10020 
 Attn: Tad Freese, Haim Zaltzman, Kristen Grannis and Benjamin Cohen 

Facsimile: (212) 906-1623 

E-mail: tad.freese@lw.com, haim.zaltzman@lw.com, kristen.grannis@lw.com and benjamin.cohen@lw.com 

If to any other Member, to the address and e-mail address specified on such Member’s signature
page to the applicable Joinder. 
 Unless otherwise specified herein, such notices, requests, consents or other communications shall be
deemed effective (i) on the date received, if personally delivered, (ii) on the date received if delivered by e-mail on a Business Day, or if not delivered on a Business Day, on the first Business
Day thereafter and (iii) two (2) Business Days after being sent by overnight courier. Each of the Parties shall be entitled to specify a different address by giving notice as aforesaid to each of the other Parties. 

Section 7.2. Counterparts. This Agreement may be executed in one or more counterparts, all of which shall be considered one
and the same agreement and shall become effective when one or more counterparts have been signed by each of the Parties and delivered to the other Parties, it being understood that all Parties need not sign the same counterpart. Delivery of an
executed signature page to this Agreement by e-mail transmission shall be as effective as delivery of a manually signed counterpart of this Agreement. 

  
 25 

 Section 7.3. Entire Agreement; No Third-Party Beneficiaries. This Agreement
constitutes the entire agreement and supersedes all prior agreements and understandings, both written and oral, among the Parties with respect to the subject matter hereof. This Agreement shall be binding upon and inure solely to the benefit of each
Party hereto and their respective successors and permitted assigns, and nothing in this Agreement, express or implied, is intended to or shall confer upon any other Person any right, benefit or remedy of any nature whatsoever under or by reason of
this Agreement. 
 Section 7.4. Severability. If any term or other provision of this Agreement is invalid, illegal or incapable
of being enforced by any Law or public policy, all other terms and provisions hereunder shall nevertheless remain in full force and effect so long as the economic or legal substance of the transactions contemplated hereby is not affected in any
manner materially adverse to any Party. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the Parties shall negotiate in good faith to modify this Agreement so as to effect the original
intent of the Parties as closely as possible in an acceptable manner. 
 Section 7.5. Assignments; Amendments; Successors; No
Waiver. 
 (a) Assignment. No Member may assign, sell, pledge or otherwise alienate or transfer any interest in this Agreement,
including the right to receive any Payments under this Agreement, to any Person without (i) the prior written consent of the Board, except with respect to transfers by the Mainsail Related Parties or the Just Rocks Related Parties and their
Permitted Transferees, and (ii) such Person executing and delivering a Joinder agreeing to succeed to the applicable portion of such Member’s interest in this Agreement and to become a Party for all purposes of this Agreement (the
“Joinder Requirement”); provided, that no such Person shall have any rights under Section 6.1 or Section 7.5(b) of this Agreement. Notwithstanding the foregoing, if any
Member sells, exchanges, distributes or otherwise transfers Units to any Person in accordance with the terms of the Operating Agreement, such Member shall have the option to assign to such transferee of such Units its rights under this Agreement
with respect to such transferred Units; provided that such transferee has satisfied the Joinder Requirement. For the avoidance of doubt, if a Member transfers Units in accordance with the terms of the Operating Agreement but does not assign
to the transferee of such Units its rights under this Agreement with respect to such transferred Units, such Member shall continue to be entitled to receive the Tax Benefit Payments arising in respect of a subsequent Exchange of such Units. The
Corporation may not assign any of its rights or obligations under this Agreement to any Person (other than in connection with an assignment pursuant to Section 7.5(c)) without the approval of the Mainsail Representative and
the Just Rocks Representative, such approval not to be unreasonably withheld, conditioned or delayed (and any purported assignment without such consent shall be null and void). 

(b) Amendments. No provision of this Agreement may be amended unless such amendment is approved in writing by the Corporation and each
of the Mainsail Representative and the Just Rocks Representative; provided, that amendment of the definition of Change of Control will also require the written approval of a majority of the Independent Directors. 

  
 26 

 (c) Successors. All of the terms and provisions hereunder shall be binding upon, and
shall inure to the benefit of and be enforceable by, the Parties and their respective successors, assigns, heirs, executors, administrators and legal representatives. The Corporation shall require and cause any direct or indirect successor (whether
by equity purchase, merger, consolidation or otherwise) to all or substantially all of the business or assets of the Corporation, by written agreement, expressly to assume and agree to perform this Agreement in the same manner and to the same extent
that the Corporation would be required to perform if no such succession had taken place. 
 (d) Waiver. No provision of this Agreement
may be waived unless such waiver is in writing and signed by the Party against whom the waiver is to be effective. No failure by any Party to insist upon the strict performance of any covenant, duty, agreement or condition of this Agreement, or to
exercise any right or remedy consequent upon a breach thereof, shall constitute a waiver of any such breach or any other covenant, duty, agreement or condition. 

Section 7.6. Titles and Subtitles. The titles of the sections and subsections of this Agreement are for convenience of reference
only and are not to be considered in construing this Agreement. 
 Section 7.7. Resolution of Disputes; Governing Law. 

(a) This Agreement shall be governed by, and construed in accordance with, the laws of the State of Delaware, without giving effect to any
choice of law or conflict of law rules or provisions (whether of the State of Delaware or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of Delaware. Any suit, dispute, action or
proceeding seeking to enforce any provision of, or based on any matter arising out of or in connection with, this Agreement shall be heard in the state or federal courts of the State of Delaware, and the parties hereby consent to the exclusive
jurisdiction of such court (and of the appropriate appellate courts) in any such suit, action or proceeding and waives any objection to venue laid therein. TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, PROCESS IN ANY SUCH SUIT, ACTION OR
PROCEEDING MAY BE SERVED ON ANY PARTY ANYWHERE IN THE WORLD, WHETHER WITHIN OR WITHOUT THE JURISDICTION OF ANY SUCH COURT (INCLUDING BY PREPAID CERTIFIED MAIL WITH A VALIDATED PROOF OF MAILING RECEIPT) AND SHALL HAVE THE SAME LEGAL FORCE AND EFFECT
AS IF SERVED UPON SUCH PARTY PERSONALLY WITHIN THE STATE OF DELAWARE. WITHOUT LIMITING THE FOREGOING, TO THE FULLEST EXTENT PERMITTED BY LAW, THE PARTIES AGREE THAT SERVICE OF PROCESS UPON SUCH PARTY AT THE ADDRESS REFERRED TO IN SECTION 7.01
(INCLUDING BY PREPAID CERTIFIED MAIL WITH A VALIDATED PROOF OF MAILING RECEIPT), TOGETHER WITH WRITTEN NOTICE OF SUCH SERVICE TO SUCH PARTY, SHALL BE DEEMED EFFECTIVE SERVICE OF PROCESS UPON SUCH PARTY. 

(b) Each Party irrevocably and unconditionally waives, to the fullest extent permitted by Law, (i) any objection that it may now or
hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement in any court referred to in Section 7.7 and (ii) the defense of an inconvenient forum to the
maintenance of any such suit, action or proceeding in any such court. 

  
 27 

 (c) Each Party irrevocably consents to service of process by means of notice in the manner
provided for in Section 7.1. Nothing in this Agreement shall affect the right of any Party to serve process in any other manner permitted by Law. 

(d) WAIVER OF RIGHT TO TRIAL BY JURY. EACH PARTY HERETO HEREBY KNOWINGLY, VOLUNTARILY, INTENTIONALLY AND IRREVOCABLY WAIVES, TO THE FULLEST
EXTENT PERMITTED BY APPLICABLE LAW, AND WITH THE ADVICE OF ITS COUNSEL, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY SUIT, ACTION OR PROCEEDING, WHETHER A CLAIM, COUNTERCLAIM, CROSS-CLAIM, OR THIRD PARTY CLAIM, DIRECTLY OR INDIRECTLY ARISING OUT
OF OR RELATING IN ANY WAY TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). 

Section 7.8. Reconciliation Procedures. 

(a) In the event that the Corporation and any Member are unable to resolve a disagreement with respect to a Schedule prepared in accordance
with the procedures set forth in Section 2.4 or Section 4.2, as applicable, within the relevant time period designated in this Agreement (a “Reconciliation Dispute”), the
procedures described in this paragraph (the “Reconciliation Procedures”) will apply. The applicable Parties shall, within fifteen (15) calendar days of the commencement of a Reconciliation Dispute, mutually select an expert in
the particular area of disagreement (the “Expert”) and submit the Reconciliation Dispute to such Expert for determination. The Expert shall be a partner or principal in a nationally recognized accounting firm, and unless the
Corporation and such Member agree otherwise, the Expert (and its employing firm) shall not have any material relationship with the Corporation or such Member or other actual or potential conflict of interest. If the applicable Parties are unable to
agree on an Expert within such 15 calendar-day time period, then the Corporation and the relevant Member shall cause the Expert to be selected by the International Chamber of Commerce Centre for Expertise,
which shall pick an Expert from a nationally recognized accounting firm that does not have any material relationship with the applicable Parties or other actual or potential conflict of interest. The Expert shall resolve any matter relating to
(i) a Basis Schedule, Early Termination Schedule or an amendment to either within thirty (30) calendar days and (ii) a Tax Benefit Schedule or an amendment thereto within fifteen (15) calendar days or, in each case, as soon
thereafter as is reasonably practicable after the matter has been submitted to the Expert for resolution. Notwithstanding the preceding sentence, if the matter is not resolved before any payment that is the subject of a disagreement would be due (in
the absence of such disagreement) or any Tax Return reflecting the subject of a disagreement is due, the undisputed amount shall be paid by the date prescribed by this Agreement and such Tax Return may be filed as prepared by the Corporation,
subject to adjustment or amendment upon resolution. The Expert shall finally determine any Reconciliation Dispute, and its determinations pursuant to this Section 7.8(a) shall be binding on the applicable Parties and may be
entered and enforced in any court having competent jurisdiction. Any dispute as to whether a dispute is a Reconciliation Dispute within the meaning of this Section 7.8 or a dispute within the meaning of
Section 7.7 shall be decided and resolved as a Dispute subject to the procedures set forth in Section 7.7. 

  
 28 

 (b) The sum of the costs and expenses relating to (i) the engagement (and, if
applicable, selection by the arbitration panel) of such Expert and (ii) if applicable, amending any Tax Return in connection with the decision of such Expert shall be allocated between the Corporation, on the one hand, and the Member, on the
other hand, in the same proportion that the aggregate amount of the disputed items so submitted to the Expert that is unsuccessfully disputed by each such party (as finally determined by the Expert) bears to the total amount of such disputed items
so submitted, and each such party shall promptly reimburse the other party for the excess that such other party has paid in respect of such costs and expenses over the amount it has been so allocated. The Corporation may withhold payments under this
Agreement to collect amounts due under the preceding sentence. Each of the Corporation and the Member shall bear its own costs and expenses incurred in the conduct of such proceeding described in Section 7.8(a) unless the Expert substantially
adopts one such party’s position and awards such party reimbursement of its costs and expenses. 
 Section 7.9.
Withholding. The Corporation and its Affiliates shall be entitled to deduct and withhold from any payment that is payable to any Member pursuant to this Agreement such amounts as the Corporation is required to deduct and withhold with respect
to the making of such payment by applicable Law. To the extent that amounts are so deducted and withheld and paid over to the appropriate Taxing Authority by the Corporation, such deducted and withheld amounts shall be treated for all purposes of
this Agreement as having been paid by the Corporation to the relevant Member in respect of whom the deduction and withholding was made. Each Member shall promptly provide the Corporation with any applicable tax forms and certifications reasonably
requested by the Corporation in connection with determining whether any such deductions and withholdings are required by applicable Law. 

Section 7.10. Admission of the Corporation into a Consolidated Group; Transfers of Corporate Assets. 

(a) If the Corporation is or becomes a member of an affiliated or consolidated group of corporations that files a consolidated income Tax
Return pursuant to Section 1501 or other applicable Sections of the Code governing affiliated or consolidated groups, or any corresponding provisions of U.S. state or local tax Law, then (i) the provisions hereunder shall be applied with
respect to the group as a whole, and (ii) Payments and other applicable items hereunder shall be computed with reference to the consolidated taxable income of the group as a whole. 

(b) If the Corporation or any member of the LLC Group transfers or is deemed to transfer one or more Reference Assets to a Person treated as a
corporation for U.S. federal income tax purposes (with which, in the case of the Corporation, the Corporation does not file a consolidated Tax Return pursuant to Section 1501 of the Code or other applicable Sections of the Code governing
affiliated or consolidated groups, or any corresponding provisions of U.S. state or local tax Law), such transferor, for purposes of calculating the amount of any Payment due hereunder, shall be treated as having disposed of such asset in a

  
 29 

 
fully taxable transaction on the date of such transfer. The consideration deemed to be received by the Corporation or the LLC Group member, as the applicable transferor, shall be equal to the
fair market value of the transferred asset plus the amount of debt to which such asset is subject, in the case of a transfer of an encumbered asset. For purposes of this Section 7.10, a transfer of a partnership interest
shall be treated as a transfer of the transferring partner’s applicable share of each of the assets and liabilities of that partnership. Notwithstanding anything to the contrary set forth herein, if the Corporation or any member of a group
described in Section 7.10(a) transfers its assets pursuant to a transaction that qualifies as a “reorganization” (within the meaning of Section 368(a) of the Code) in which such entity does not survive,
pursuant to a contribution described in Section 351(a) of the Code or pursuant to any other transaction to which Section 381(a) of the Code applies (other than any such reorganization or any such other transaction, in each case, pursuant
to which such entity transfers assets to a corporation with which the Corporation or any member of the group described in Section 7.10(a) (other than any such member being transferred in such reorganization or other
transaction) does not file a consolidated Tax Return pursuant to Section 1501 of the Code or other applicable Sections of the Code governing affiliated or consolidated groups), the transfer will not cause such entity to be treated as having
transferred any assets to a corporation (or a Person classified as a corporation for U.S. federal income tax purposes) pursuant to this Section 7.10(b). Notwithstanding the foregoing, after the occurrence of any such
transfer as described in the first sentence of this Section 7.10(b), if the Corporation takes actions to ensure that the amount to be received by the Members hereunder and the timing thereof, taking into account such
actions (which actions may, at the election of the Corporation, include the payment of an additional amount to a Member), would be the same amount and timing as if such transfer described in the first sentence of this
Section 7.10(b) did not occur then this Section 7.10(b) shall not apply with respect to such transfer. 

Section 7.11. Confidentiality. Section 15.02 (Confidentiality) of the Operating Agreement as in effect on the date of
this Agreement shall apply mutatis mutandis to any information of the Corporation provided to the Members and their assignees pursuant to this Agreement. 

Section 7.12. Change in Law. Notwithstanding anything herein to the contrary, if, in connection with an actual or proposed
change in Law, a Member reasonably believes that the existence of this Agreement could cause income (other than income arising from receipt of a payment under this Agreement) recognized by such Member (or direct or indirect equity holders in such
Member) in connection with any Exchange to be treated as ordinary income (other than with respect to assets described in Section 751(a) of the Code) rather than capital gain (or otherwise taxed at ordinary income rates) for U.S. federal
income tax purposes or would have other material adverse tax consequences to such Member or any direct or indirect owner of such Member, then, at the written election of such Member in its sole discretion (in an instrument signed by such Member and
delivered to the Corporation) and to the extent specified therein by such Member, this Agreement shall cease to have further effect and shall not apply to an Exchange occurring after a date specified by such Member, or may be amended in a manner
reasonably determined by such Member; provided that such amendment shall not result in an increase in any payments owed by the Corporation under this Agreement at any time as compared to the amounts and times of payments that would have been
due in the absence of such amendment; provided, further, that for the avoidance of doubt, such amendment shall not be treated as a termination of this Agreement that results in an Early Termination Payment obligation to the Corporation. 

  
 30 

 Section 7.13. Interest Rate Limitation. Notwithstanding anything to the
contrary contained herein, the interest paid or agreed to be paid hereunder with respect to amounts due to any Member hereunder shall not exceed the maximum rate of non-usurious interest permitted by
applicable Law (the “Maximum Rate”). If any Member shall receive interest in an amount that exceeds the Maximum Rate, the excess interest shall be applied to the applicable payment (but in each case exclusive of any component
thereof comprising interest) or, if it exceeds such unpaid non-interest amount, refunded to the Corporation. In determining whether the interest contracted for, charged or received by any Member exceeds the
Maximum Rate, such Member may, to the extent permitted by applicable Law, (i) characterize any payment that is not principal as an expense, fee or premium rather than interest, (ii) exclude voluntary prepayments and the effects thereof or
(iii) amortize, prorate, allocate and spread in equal or unequal parts the total amount of interest throughout the contemplated term of the payment obligations owed by the Corporation to such Member hereunder. Notwithstanding the foregoing, it
is the intention of the Parties to conform strictly to any applicable usury Laws. 
 Section 7.14. Independent Nature of Rights and
Obligations. The rights and obligations of each Member hereunder are several and not joint with the rights and obligations of any other Person. A Member shall not be responsible in any way for the performance of the obligations of any
other Person hereunder (other than its Affiliates or representatives as described herein), nor shall a Member have the right to enforce the rights or obligations of any other Person hereunder (other than obligations of the Corporation). The
obligations of a Member hereunder are solely for the benefit of, and shall be enforceable solely by, the Corporation. Nothing contained herein or in any other agreement or document delivered in connection herewith, and no action taken by any Member
pursuant hereto or thereto, shall be deemed to constitute the Members acting as a partnership, association, joint venture or any other kind of entity, or create a presumption that the Members are in any way acting in concert or as a group with
respect to such rights or obligations or the transactions contemplated hereby. 
 Section 7.15. LLC Agreement. This Agreement
shall be treated as part of the LLC Agreement as described in Section 761(c) of the Code and Sections 1.704-1(b)(2)(ii)(h) and 1.761-1(c) of the Treasury
Regulations. 
 [Signature Page Follows this Page] 

  
 31 

 IN WITNESS WHEREOF, the undersigned have executed or caused to be executed on their behalf
this Agreement as of the date first written above. 
  

			
	BRILLIANT EARTH GROUP, INC., AS THE CORPORATION
		
	By:	 	
                     

		 	Name:
		 	Title:

  

			
	 BRILLIANT EARTH, LLC
 By:
Brilliant Earth Group, Inc., as its sole Managing Member

		
	By:	 	
                     
    

		 	Name:
		 	Title:

 Exhibit A 

FORM OF JOINDER AGREEMENT 

This JOINDER AGREEMENT, dated as of [ ● ], 20[ ● ] (this “Joinder”), is delivered pursuant to
that certain Tax Receivable Agreement, dated as of [ ● ], 2021 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Tax Receivable Agreement”), by and among
Brilliant Earth Group, Inc., a Delaware corporation (the “Corporation”), Brilliant Earth, LLC, a Delaware limited liability company (the “LLC”), and each of the Members from time to time party thereto. Capitalized
terms used but not otherwise defined herein have the respective meanings set forth in the Tax Receivable Agreement. 
  

	 	1.	 Joinder to the Tax Receivable Agreement. The undersigned hereby represents and warrants to the
Corporation that, as of the date hereof, the undersigned has been assigned an interest in the Tax Receivable Agreement from a Member. 

  

	 	2.	 Joinder to the Tax Receivable Agreement. Upon the execution of this Joinder by the undersigned and
delivery hereof to the Corporation, the undersigned hereby is and hereafter will be a Member under the Tax Receivable Agreement and a Party thereto, with all the rights, privileges and responsibilities of a Member thereunder. The undersigned hereby
agrees that it shall comply with and be fully bound by the terms of the Tax Receivable Agreement as if it had been a signatory thereto as of the date thereof. 

 

	 	3.	 Incorporation by Reference. All terms and conditions of the Tax Receivable Agreement are hereby
incorporated by reference in this Joinder as if set forth herein in full. 

  

	 	4.	 Address. All notices under the Tax Receivable Agreement to the undersigned shall be direct to:

  

	
	 [Name]

	 [Address]

	 [City, State, Zip Code]

	 Attn:

	 E-mail:

 [Signature Page Follows this Page] 

 IN WITNESS WHEREOF, the undersigned has duly executed and delivered this Joinder as of the
day and year first above written. 
  

			
	[NAME OF NEW PARTY]
		
	by	 	  

		 	Name:
		 	Title:

 Acknowledged and agreed 

as of the date first set forth abov 
  

			
	BRILLIANT EARTH GROUP, INC.
		
	by	 	  

		 	Name:
		 	Title:EX-10.6

 Exhibit 10.6 
  

 
 BRILLIANT EARTH, LLC 

AMENDED AND RESTATED 

LIMITED LIABILITY COMPANY AGREEMENT 

Dated as of [ • ], 2021 
  

 
 THE LIMITED LIABILITY COMPANY INTERESTS REPRESENTED
BY THIS AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR UNDER ANY OTHER APPLICABLE SECURITIES LAWS. SUCH LIMITED LIABILITY COMPANY INTERESTS MAY NOT BE
SOLD, ASSIGNED, PLEDGED OR OTHERWISE DISPOSED OF AT ANY TIME WITHOUT EFFECTIVE REGISTRATION UNDER SUCH ACT AND LAWS OR EXEMPTION THEREFROM, AND COMPLIANCE WITH THE OTHER SUBSTANTIAL RESTRICTIONS ON TRANSFERABILITY SET FORTH HEREIN. 

 
  

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
		
	 Article I. DEFINITIONS
	  	 	2	 
		
	 Article II. ORGANIZATIONAL MATTERS
	  	 	13	 
			
	 Section 2.01
	 	Formation of Company	  	 	13	 
	 Section 2.02
	 	Amended and Restated Limited Liability Company Agreement	  	 	14	 
	 Section 2.03
	 	Name	  	 	14	 
	 Section 2.04
	 	Purpose; Powers	  	 	14	 
	 Section 2.05
	 	Principal Office; Registered Office	  	 	14	 
	 Section 2.06
	 	Term	  	 	14	 
	 Section 2.07
	 	No State-Law Partnership	  	 	14	 
	 Section 2.08
	 	Liability	  	 	15	 
		
	 Article III. MEMBERS; UNITS; CAPITALIZATION
	  	 	15	 
			
	 Section 3.01
	 	Members	  	 	15	 
	 Section 3.02
	 	Units	  	 	15	 
	 Section 3.03
	 	Recapitalization; the Corporation’s Capital Contribution; the Corporation’s Purchase of Common Units.	  	 	16	 
	 Section 3.04
	 	Authorization and Issuance of Additional Units.	  	 	17	 
	 Section 3.05
	 	Repurchase or Redemption of Shares of Class A Common Stock or Class D Common Stock; Other Redemptions or Repurchases	  	 	19	 
	 Section 3.06
	 	Certificates Representing Units; Lost, Stolen or Destroyed Certificates; Registration and Transfer of Units	  	 	19	 
	 Section 3.07
	 	Negative Capital Accounts	  	 	20	 
	 Section 3.08
	 	No Withdrawal	  	 	20	 
	 Section 3.09
	 	Loans From Members	  	 	20	 
	 Section 3.10
	 	Corporate Stock Option Plans and Equity Plans	  	 	20	 
	 Section 3.11
	 	Dividend Reinvestment Plan, Cash Option Purchase Plan, Stock Incentive Plan or Other Plan	  	 	23	 
		
	 Article IV. DISTRIBUTIONS
	  	 	23	 
			
	 Section 4.01
	 	Distributions	  	 	23	 
		
	 Article V. CAPITAL ACCOUNTS; ALLOCATIONS; TAX MATTERS
	  	 	26	 
			
	 Section 5.01
	 	Capital Accounts	  	 	26	 
	 Section 5.02
	 	Allocations	  	 	27	 
	 Section 5.03
	 	Regulatory Allocations	  	 	27	 
	 Section 5.04
	 	Final Allocations	  	 	28	 
	 Section 5.05
	 	Tax Allocations	  	 	29	 
	 Section 5.06
	 	Indemnification and Reimbursement for Payments on Behalf of a Member	  	 	30	 

  
 i 

							
	 Article VI. MANAGEMENT
	  	 	31	 
			
	 Section 6.01
	 	Authority of Manager	  	 	31	 
	 Section 6.02
	 	Actions of the Manager	  	 	32	 
	 Section 6.03
	 	Resignation; No Removal	  	 	32	 
	 Section 6.04
	 	Vacancies	  	 	32	 
	 Section 6.05
	 	Transactions Between the Company and the Manager	  	 	32	 
	 Section 6.06
	 	Reimbursement for Expenses	  	 	33	 
	 Section 6.07
	 	Delegation of Authority	  	 	33	 
	 Section 6.08
	 	Limitation of Liability of Manager	  	 	34	 
	 Section 6.09
	 	Investment Company Act	  	 	34	 
		
	 Article VII. RIGHTS AND OBLIGATIONS OF MEMBERS AND MANAGER
	  	 	35	 
			
	 Section 7.01
	 	Limitation of Liability and Duties of Members	  	 	35	 
	 Section 7.02
	 	Lack of Authority	  	 	35	 
	 Section 7.03
	 	No Right of Partition	  	 	36	 
	 Section 7.04
	 	Indemnification	  	 	36	 
		
	 Article VIII. BOOKS, RECORDS, ACCOUNTING AND REPORTS, AFFIRMATIVE COVENANTS
	  	 	37	 
			
	 Section 8.01
	 	Records and Accounting	  	 	37	 
	 Section 8.02
	 	Fiscal Year	  	 	37	 
	 Section 8.03
	 	Inspection Rights	  	 	38	 
		
	 Article IX. TAX MATTERS
	  	 	38	 
			
	 Section 9.01
	 	Preparation of Tax Returns	  	 	38	 
	 Section 9.02
	 	Tax Elections	  	 	38	 
	 Section 9.03
	 	Tax Controversies	  	 	38	 
		
	 Article X. RESTRICTIONS ON TRANSFER OF UNITS; CERTAIN TRANSACTIONS
	  	 	40	 
			
	 Section 10.01
	 	Transfers by Members	  	 	40	 
	 Section 10.02
	 	Permitted Transfers	  	 	40	 
	 Section 10.03
	 	Restricted Units Legend	  	 	41	 
	 Section 10.04
	 	Transfer	  	 	41	 
	 Section 10.05
	 	Assignee’s Rights	  	 	41	 
	 Section 10.06
	 	Assignor’s Rights and Obligations	  	 	42	 
	 Section 10.07
	 	Overriding Provisions	  	 	42	 
	 Section 10.08
	 	Spousal Consent	  	 	43	 
	 Section 10.09
	 	Certain Transactions with respect to the Corporation	  	 	43	 
		
	 Article XI. REDEMPTION AND DIRECT EXCHANGE RIGHTS
	  	 	46	 
			
	 Section 11.01
	 	Redemption Right of a Member	  	 	46	 

  
 ii 

							
	 Section 11.02
	 	Mandatory Redemption	  	 	49	 
	 Section 11.03
	 	Election and Contribution of the Corporation	  	 	50	 
	 Section 11.04
	 	Direct Exchange Right of the Corporation	  	 	50	 
	 Section 11.05
	 	Reservation of Shares of Class A Common Stock and Class D Common Stock; Listing; Certificate of the Corporation	  	 	51	 
	 Section 11.06
	 	Effect of Exercise of Redemption or Direct Exchange	  	 	52	 
	 Section 11.07
	 	Tax Treatment	  	 	52	 
		
	 Article XII. ADMISSION OF MEMBERS
	  	 	53	 
			
	 Section 12.01
	 	Substituted Members	  	 	53	 
	 Section 12.02
	 	Additional Members	  	 	53	 
		
	 Article XIII. WITHDRAWAL AND RESIGNATION; TERMINATION OF RIGHTS
	  	 	53	 
			
	 Section 13.01
	 	Withdrawal and Resignation of Members	  	 	53	 
		
	 Article XIV. DISSOLUTION AND LIQUIDATION
	  	 	53	 
			
	 Section 14.01
	 	Dissolution	  	 	53	 
	 Section 14.02
	 	Winding Up	  	 	54	 
	 Section 14.03
	 	Deferment; Distribution in Kind	  	 	55	 
	 Section 14.04
	 	Cancellation of Certificate	  	 	55	 
	 Section 14.05
	 	Reasonable Time for Winding Up	  	 	55	 
	 Section 14.06
	 	Return of Capital	  	 	55	 
		
	 Article XV. GENERAL PROVISIONS
	  	 	56	 
			
	 Section 15.01
	 	Power of Attorney	  	 	56	 
	 Section 15.02
	 	Confidentiality	  	 	56	 
	 Section 15.03
	 	Amendments	  	 	57	 
	 Section 15.04
	 	Title to Company Assets	  	 	58	 
	 Section 15.05
	 	Addresses and Notices	  	 	58	 
	 Section 15.06
	 	Binding Effect; Intended Beneficiaries	  	 	59	 
	 Section 15.07
	 	Creditors	  	 	59	 
	 Section 15.08
	 	Waiver	  	 	59	 
	 Section 15.09
	 	Counterparts	  	 	60	 
	 Section 15.10
	 	Applicable Law	  	 	60	 
	 Section 15.11
	 	Severability	  	 	60	 
	 Section 15.12
	 	Further Action	  	 	60	 
	 Section 15.13
	 	Execution and Delivery by Electronic Signature and Electronic Transmission	  	 	60	 
	 Section 15.14
	 	Right of Offset	  	 	61	 
	 Section 15.15
	 	Entire Agreement	  	 	61	 
	 Section 15.16
	 	Remedies	  	 	61	 
	 Section 15.17
	 	Descriptive Headings; Interpretation	  	 	61	 

  
 iii 

 Schedules 
  

					
	 Schedule 1
	  	 –
	  	 Schedule of Pre-IPO Members

	 Schedule 2
	  	 –
	  	 Schedule of Members

 Exhibits 
  

					
	 Exhibit A
	  	 –
	  	 Form of Joinder Agreement

	 Exhibit B-1
	  	 –
	  	 Form of Agreement and Consent of Spouse

	 Exhibit B-2
	  	 –
	  	 Form of Spouse’s Confirmation of Separate Property

  

  
 iv 

 BRILLIANT EARTH, LLC 

AMENDED AND RESTATED 

LIMITED LIABILITY COMPANY AGREEMENT 

This AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT (as the same may be amended, restated, amended and restated, supplemented or
otherwise modified from time to time, this “Agreement”) of Brilliant Earth, LLC a Delaware limited liability company (the “Company”), dated as of [ • ], 2021 (the “Effective
Date”), is entered into by and among the Company, Brilliant Earth Group, Inc., a Delaware corporation (the “Corporation”), as the sole managing member of the Company, and each of the other Members (as defined
herein). 
 RECITALS 

WHEREAS, unless the context otherwise requires, capitalized terms used herein have the respective meaning ascribed to them in Article
I; 
 WHEREAS, the Company was initially formed as a Delaware corporation under the name “Brilliant Earth Inc.” on
August 25, 2005; 
 WHEREAS, on November 29, 2012, Brilliant Earth, Inc. converted to the Company; 

WHEREAS, prior to the IPO (as defined below), the Company was governed by that certain Limited Liability Company Agreement of the Company,
dated as of November 30, 2012 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, together with all schedules, exhibits and annexes thereto, the “Original LLC Agreement”),
which the parties listed on Schedule 1 hereto executed in their capacity as members (including pursuant to consents and joinders thereto) (collectively, the “Pre-IPO Members”);

 WHEREAS, in connection with the IPO, the Company was a party to a series of reorganization transactions (the
“Reorganization”) with the Corporation and various other parties; 
 WHEREAS, in connection with the IPO, the
Company, the Corporation and the Pre-IPO Members desire to convert the Original Units into Common Units (as defined below) (the “Recapitalization”) as provided herein; 

WHEREAS, the Corporation will sell shares of its Class A Common Stock to public investors in the IPO and will use the net proceeds
received from the IPO (the “IPO Net Proceeds”) to (i) purchase newly issued Common Units from the Company pursuant to the IPO Common Unit Subscription Agreement and (ii) purchase certain Common Units held by the
Members; 
 WHEREAS, the Corporation may issue additional shares of Class A Common Stock in connection with the IPO as a result of the
exercise by the underwriters of their over-allotment option (the “Over-Allotment Option”) and, if the Over-Allotment Option is exercised in whole or in part, any additional net proceeds (the “Over-Allotment Option
Net Proceeds”) shall be used by the Corporation to purchase Common Units held by the Members; and 
  

 WHEREAS, in connection with the foregoing matters, the Company and the Members desire to
continue the Company without dissolution and amend and restate the Original LLC Agreement in its entirety as of the Effective Date to reflect, among other things, (a) the Recapitalization, (b) the addition of the Corporation as a Member
and its designation as sole Manager of the Company and (c) the other rights and obligations of the Members as provided and agreed upon in the terms of this Agreement as of the Effective Date, at which time the Original LLC Agreement shall be
superseded entirely by this Agreement and shall be of no further force or effect. 
 NOW, THEREFORE, in consideration of the mutual
covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Original LLC Agreement is hereby amended and restated in its entirety and the Company, the Corporation and the
other Members, each intending to be legally bound, each hereby agrees as follows: 
 ARTICLE I. 

DEFINITIONS 
 The following
definitions shall be applied to the terms used in this Agreement for all purposes, unless otherwise clearly indicated to the contrary. 

“Additional Member” has the meaning set forth in Section 12.02. 

“Adjusted Capital Account Deficit” means, with respect to the Capital Account of any Member as of the end of any
Taxable Year, the amount by which the balance in such Capital Account is less than zero. For this purpose, such Member’s Capital Account balance shall be: 
  

	 	(a)	 reduced for any items described in Treasury Regulations Sections 1.704-
1(b)(2)(ii)(d)(4), (5), and (6); and 

  

	 	(b)	 increased for any amount such Member is obligated to contribute or is treated as being obligated to contribute
to the Company pursuant to Treasury Regulations Sections 1.704-1(b)(2)(ii)(c) (relating to partner liabilities to a partnership) or 1.704-2(g)(1) and 1.704-2(i)(5) (relating to minimum gain). 

 “Admission Date”
has the meaning set forth in Section 10.06. 
 “Affiliate” (and, with a correlative
meaning, “Affiliated”) means, with respect to a specified Person, each other Person that directly, or indirectly through one or more intermediaries, controls or is controlled by, or is under common control with, the Person
specified. As used in this definition, “control” (including with correlative meanings, “controlled by” and “under common control with”) means possession, directly or indirectly, of power to direct or cause the direction
of management or policies (whether through ownership of voting securities or by contract or other agreement or otherwise). 

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

  
 2 

 “Assignee” means a Person to whom a Unit has been transferred but
who has not become a Member pursuant to Article XII. 
 “Assumed Tax Liability” means, with
respect to any Member, an amount equal to the excess of (i) the product of (A) the Distribution Tax Rate multiplied by (B) the estimated or actual cumulative taxable income or gain of the Company, as determined for federal
income tax purposes, allocated to such Member for Taxable Years or Fiscal Periods (or portions thereof) commencing on or after the Effective Date, less prior losses of the Company allocated to such Member for Taxable Years or Fiscal Periods
(or portions thereof) commencing on or after the Effective Date, to the extent such prior losses are available to reduce such income and have not previously been taken into account in the calculation of Assumed Tax Liability for any prior period, in
each case, as determined by the Manager and, for the avoidance of doubt, taking into account any Code Section 704(c) allocations (including “reverse” Section 704(c) allocations) over (ii) the cumulative Tax
Distributions made to such Member after the Effective Date pursuant to Sections 4.01(b)(i), 4.01(b)(ii) and 4.01(b)(iii); provided that, in the case of the Corporation, such Assumed Tax Liability (x) shall be
computed without regard to any increases to the tax basis of the Company’s property pursuant to Sections 734(b) or 743(b) of the Code and (y) shall in no event be less than an amount that will enable the Corporation to meet both its tax
obligations and its obligations pursuant to the Tax Receivable Agreement for the relevant Taxable Year. 
 “Base
Rate” means, on any date, a variable rate per annum equal to the rate of interest most recently published by The Wall Street Journal as the “prime rate” at large U.S. money center banks. 

“Black-Out Period” means any
“black-out” or similar period under the Corporation’s policies covering trading in the Corporation’s securities to which the applicable Redeeming Member is subject (or will be subject at
such time as it owns Class A Common Stock or Class D Common Stock, as applicable), which period restricts the ability of such Redeeming Member to immediately resell shares of Class A Common Stock to be delivered to such Redeeming
Member in connection with a Share Settlement. 
 “Book Value” means, with respect to any property of the Company,
the Company’s adjusted basis for U.S. federal income tax purposes, adjusted from time to time to reflect the adjustments required or permitted by Treasury Regulations Sections 1.704-1(b)(2)(iv)(d) through
(g) and (m) and 1.704-1(b)(2)(iv)(s). 
 “Business Day” means any day
other than a Saturday, Sunday or day on which banks located in New York City, New York are authorized or required by Law to close. 

“Capital Account” means the capital account maintained for a Member in accordance with
Section 5.01. 
 “Capital Contribution” means, with respect to any Member, the amount of
any cash, cash equivalents, promissory obligations or the Fair Market Value of other property that such Member (or such Member’s predecessor) contributes (or is deemed to contribute) to the Company pursuant to Article III hereof. 

  
 3 

 “Cash Settlement” means immediately available funds in U.S. dollars
in an amount equal to the greater of (i) the Redeemed Units Equivalent and (ii) if the Redemption Notice provides that the Redemption is to be contingent upon the consummation of a transaction with another Person and specifies the amount
of cash to be received therein, such amount of cash which the Redeeming Member would be entitled to receive in such transaction; provided that such funds are (i) in the case of a Redemption occurring in connection with the closing of the IPO,
funds that are received from the IPO and (ii) in any other case, funds received from a Qualifying Offering. 
 “Certificate
of Formation” means the Certificate of Formation of the Company, as amended from time to time. 
 “Change of
Control” means the occurrence of any of the following events: 
 (1) any “person” or “group”
(within the meaning of Sections 13(d) and 14(d) of the Exchange Act, but excluding any employee benefit plan of such person and its subsidiaries, and any person or entity acting in its capacity as trustee, agent or other fiduciary or administrator
of any such plan, and excluding the Permitted Transferees) becomes the “beneficial owner” (within the meaning of Rules 13d-3 and 13d-5 under the Exchange Act),
directly or indirectly, of voting securities representing in the aggregate more than fifty percent (50%) of the voting power of all of the outstanding voting securities of the Corporation; 

(2) the stockholders of the Corporation approve a plan of complete liquidation or dissolution of the Corporation or there is
consummated a sale or other disposition, directly or indirectly, by the Corporation of all or substantially all of the Corporation’s assets (including a sale of all or substantially all of the assets of the Company); 

(3) there is consummated a merger or consolidation of the Corporation with any other corporation or entity, and, immediately
after the consummation of such merger or consolidation, the voting securities of the Corporation outstanding immediately prior to such merger or consolidation do not continue to represent, or are not converted into, voting securities representing in
the aggregate more than fifty percent (50%) of the voting power of all of the outstanding voting securities of the Person resulting from such merger or consolidation or, if the surviving company is a Subsidiary, the ultimate parent thereof; or 

(4) the Corporation ceases to be the sole Manager of the Company. 

Notwithstanding the foregoing, a “Change of Control” shall not be deemed to have occurred by virtue of the consummation of any
transaction or series of integrated transactions immediately following which the record holders of the Class A Common Stock, Class B Common Stock, Class C Common Stock, Class D Common Stock, preferred stock and/or any other class
or classes of capital stock of the Corporation immediately prior to such transaction or series of transactions continue to have substantially the same proportionate ownership in and voting control over, and own substantially all of the shares of, an
entity which owns all or substantially all of the assets of the Corporation immediately following such transaction or series of transactions. 

“Change of Control Date” has the meaning set forth in Section 10.09(a). 

“Change of Control Transaction” means any Change of Control that was approved by the Corporate Board prior to such
Change of Control. 

  
 4 

 “Class A Common Stock” means the
shares of Class A common stock, par value $0.0001 per share, of the Corporation. 

“Class B Common Stock” means the shares of Class B common stock, par value
$0.0001 per share, of the Corporation. 
 “Class C Common Stock” means the shares
of Class C common stock, par value $0.0001 per share, of the Corporation. 
 “Class D
Common Stock” means the shares of Class D common stock, par value $0.0001 per share, of the Corporation. 

“Code” means the United States Internal Revenue Code of 1986, as amended. Unless the context requires otherwise, any
reference herein to a specific section of the Code shall be deemed to include any corresponding provisions of future Law as in effect for the relevant taxable period. 

“Common Unit” means a Unit designated as a “Common Unit” and having the rights and obligations specified
with respect to the Common Units in this Agreement. 
 “Common Unit Redemption Price” means, with respect to any
Redemption, the VWAP for the five (5) consecutive full Trading Days ending on and including the last full Trading Day immediately prior to the applicable Redemption Date, subject to appropriate and equitable adjustment for any stock splits,
reverse splits, stock dividends or similar events affecting the Class A Common Stock. If the Class A Common Stock no longer trades on the Stock Exchange or any other securities exchange or automated or electronic quotation system as of any
particular Redemption Date, then the Manager (through a Disinterested Majority of the Corporate Board) shall determine the Common Unit Redemption Price in good faith. 

“Company” has the meaning set forth in the Preamble. 

“Confidential Information” has the meaning set forth in Section 15.02(a). 

“Corporate Board” means the board of directors of the Corporation. 

“Corporate Charter” means the amended and restated certificate of incorporation of the Corporation in effect as of the
date hereof. 
 “Corporate Incentive Award Plan” means the 2021 Incentive Award Plan of the Corporation, as the same
may be amended, restated, amended and restated, supplemented, or otherwise modified from time to time. 

“Corporation” has the meaning set forth in the recitals to this Agreement, together with its successors and assigns.

 “Corresponding Rights” means any rights issued with respect to a share of Class A Common Stock, Class B
Common Stock, Class C Common Stock or Class D Common Stock pursuant to a “poison pill” or similar stockholder rights plan approved by the Corporate Board. 

  
 5 

 “Credit Agreements” means any promissory note, mortgage, loan
agreement, indenture or similar instrument or agreement to which the Company or any of its Subsidiaries is or becomes a borrower, as such instruments or agreements may be amended, restated, supplemented or otherwise modified from time to time and
including any one or more refinancing or replacements thereof, in whole or in part, with any other debt facility or debt obligation, for as long as the payee or creditor to whom the Company or any of its Subsidiaries owes such obligation is not an
Affiliate of the Company. 
 “Delaware Act” means the Delaware Limited Liability Company Act, 6 Del. C. § 18-101, et seq., as it may be amended from time to time, and any successor thereto. 

“DGCL” means the General Corporation Law of the State of Delaware, as it may be amended from time to time. 

“Direct Exchange” has the meaning set forth in Section 11.04(a). 

“Discount” has the meaning set forth in Section 6.06. 

“Disinterested Majority” means a majority of the directors of the Corporate Board who are disinterested, as determined
by the Corporate Board in accordance with the DGCL, with respect to the matter being considered by the Corporate Board; provided, that to the extent a matter being considered by the Corporate Board is required to be considered by
disinterested directors under the rules of the Stock Exchange or, if the Class A Common Stock is not listed or admitted to trading on the Stock Exchange, the principal national securities exchange on which the Class A Common Stock is
listed or admitted to trading, the Securities Act or the Exchange Act, such rules with respect to the definition of disinterested director shall apply solely with respect to such matter. 

“Distributable Cash” means, as of any relevant date on which a determination is being made by the Manager regarding a
potential distribution pursuant to Section 4.01(a), the amount of cash that could be distributed by the Company for such purposes in accordance with any applicable Credit Agreements (and without otherwise violating any
applicable provisions of any applicable Credit Agreements) and applicable Law. 
 “Distribution” (and, with a
correlative meaning, “Distribute”) means each distribution made by the Company to a Member with respect to such Member’s Units, whether in cash, property or securities of the Company and whether by liquidating
distribution or otherwise; provided, however, that none of the following shall be a Distribution: (a) any recapitalization or any exchange of securities of the Company, in each case, that does not result in the distribution of cash or
property (other than securities of the Company) to Members, and any subdivision (by Unit split or otherwise) or any combination (by reverse Unit split or otherwise) of any outstanding Units or (b) any other payment made by the Company to a
Member that is not properly treated as a “distribution” for purposes of Sections 731, 732, or 733 or other applicable provisions of the Code. 

“Distribution Tax Rate” means a rate equal to the highest effective marginal combined federal, state and local income
tax rate (including, if relevant, any corporate-level tax rate applicable to the income of Subchapter S corporations) for a Taxable Year applicable to a corporate taxpayer or an individual taxpayer (including any individual taxpayer earning income
through a Subchapter S corporation that is fully taxable in New York, New York or California) (whichever 

  
 6 

 
combined rate is highest) that may potentially apply to any Member or any direct or indirect partner or member (that is tax resident in only the United States) of any Member for such Taxable
Year, taking into account the character of the relevant items of income or gain (e.g., ordinary or capital), the estimated deductibility of state and local income taxes for federal income tax purposes (but only to the extent such taxes are
deductible under the Code), as reasonably determined by the Manager. For the avoidance of doubt, there shall be a single Distribution Tax Rate for all Members. 

“Effective Date” has the meaning set forth in the Preamble. 

“Election Notice” has the meaning set forth in Section 11.01(b). 

“Equity Plan” means any stock or equity purchase plan, restricted stock or equity plan or other similar equity
compensation plan now or hereafter adopted by the Company or the Corporation. 
 “Equity Securities” means, with
respect to any Person, (a) Units or other equity interests in such Person or any Subsidiary of such Person (including, with respect to the Company and its Subsidiaries, other classes or groups thereof having such relative rights, powers and
duties as may from time to time be established by the Manager pursuant to the provisions of this Agreement, including rights, powers and/or duties senior to existing classes and groups of Units and other equity interests in the Company or any
Subsidiary of the Company), (b) obligations, evidences of indebtedness or other securities or interests convertible or exchangeable into any equity interests in such Person or any Subsidiary of such Person, and (c) warrants, options or other
rights to purchase or otherwise acquire any equity interests in such Person or any Subsidiary of such Person. 
 “Event of
Withdrawal” means the occurrence of any event that terminates the continued membership of a Member in the Company. “Event of Withdrawal” shall not include an event that (a) terminates the existence of a Member for income
tax purposes (including, without limitation, (i) a change in entity classification of a Member under Treasury Regulations Section 301.7701-3, (ii) a sale of assets by, or liquidation of, a Member
pursuant to an election under Code Sections 336 or 338, or (iii) merger, severance, or allocation within a trust or among sub-trusts of a trust that is a Member) but that (b) does not terminate the
existence of such Member under applicable state law (or, in the case of a trust that is a Member, does not terminate the trusteeship of the fiduciaries under such trust with respect to all the Units of such trust that is a Member). 

“Exchange Act” means the U.S. Securities Exchange Act of 1934, as amended, and any applicable rules and regulations
promulgated thereunder, and any successor to such statute, rules or regulations. 
 “Exchange Election Notice” has
the meaning set forth in Section 11.04(b). 
 “Fair Market Value” of a specific asset of
the Company will mean the amount which the Company would receive in an all-cash sale of such asset in an arms-length transaction with a willing unaffiliated third party, with neither party having any
compulsion to buy or sell, consummated on the day immediately preceding the date on which the event occurred which necessitated the determination of the Fair Market Value (and after giving effect to any transfer taxes payable in connection with such
sale), as such amount is determined by the Manager (or, if pursuant to Section 14.02, the Liquidators) in its good faith judgment using all factors, information and data it deems to be pertinent. 

  
 7 

 “Fiscal Period” means any interim accounting period within a Taxable
Year established by the Manager and which is permitted or required by Section 706 of the Code. 
 “Fiscal Year”
means the Company’s annual accounting period established pursuant to Section 8.02. 
 “Founder
Members” means Just Rocks, Inc., Eric Grossberg, and Beth Gerstein. 
 “Governmental Entity” means
(a) the United States of America, (b) any other sovereign nation, (c) any state, province, county, municipal, district, territory or other political subdivision of (a) or (b) of this definition, including, but not limited to, any
county, municipal or other local subdivision of the foregoing, or (d) any agency, arbitrator or arbitral body (public or private), authority, board, body, bureau, commission, court, department, entity, instrumentality, organization (including
any public international organization such as the United Nations) or tribunal exercising executive, legislative, judicial, quasi-judicial, regulatory or administrative functions of or pertaining to government on behalf of (a), (b) or (c) of
this definition. 
 “Indemnified Person” has the meaning set forth in Section 7.04(a).

 “Internal Revenue Service” means the U.S. Internal Revenue Service. 

“Investment Company Act” means the U.S. Investment Company Act of 1940, as amended from time to time. 

“IPO” means the initial underwritten public offering of the shares of the Corporation’s Class A Common
Stock. 
 “IPO Common Unit Subscription” has the meaning set forth in Section 3.03(b).

 “IPO Common Unit Subscription Agreement” means that certain Common Unit Subscription Agreement, dated as of the
Effective Date, by and between the Corporation and the Company. 
 “IPO Net Proceeds” has the meaning set forth in
the Recitals. 
 “Joinder” means a joinder to this Agreement, in form and substance substantially similar to
Exhibit A to this Agreement. 
 “Just Rocks Related Parties” has the meaning set forth in the Corporate
Charter. 
 “Law” means all laws, statutes, acts, constitutions, treaties, principles of common law, codes,
ordinances, rules and regulations of any Governmental Entity. 

  
 8 

 “Liquidator” has the meaning set forth in
Section 14.02. 
 “LLC Employee” means an employee of, or other service provider
(including, without limitation, any management member whether or not treated as an employee for the purposes of U.S. federal income tax) to, the Company or any of its Subsidiaries, in each case acting in such capacity. 

“Losses” means items of loss or deduction of the Company determined according to
Section 5.01(b). 
 “Mainsail Related Parties” has the meaning set forth in the Corporate
Charter. 
 “Manager” has the meaning set forth in Section 6.01. 

“Mandatory Redemption” has the meaning set forth in Section 11.02. 

“Market Price” means, with respect to a share of Class A Common Stock as of a specified date, the last sale price
per share of Class A Common Stock, regular way, or if no such sale took place on such day, the average of the closing bid and asked prices per share of Class A Common Stock, regular way, in either case as reported in the principal
consolidated transaction reporting system with respect to securities listed or admitted to trading on the Stock Exchange or, if the Class A Common Stock is not listed or admitted to trading on the Stock Exchange, as reported on the principal
consolidated transaction reporting system with respect to securities listed on the principal national securities exchange on which the Class A Common Stock is listed or admitted to trading or, if the Class A Common Stock is not listed or
admitted to trading on any national securities exchange, the fair market value of a share of Class A Common Stock, as determined in good faith by the Corporate Board. 

“Member” means, as of any date of determination, (a) each of the members named on the Schedule of Members and
(b) any Person admitted to the Company as a Substituted Member or Additional Member in accordance with Article XII, but in each case only so long as such Person is shown on the Company’s books and records as the owner of one or more
Units, each in its capacity as a member of the Company. 
 “Minimum Gain” means “partnership minimum gain”
determined pursuant to Treasury Regulations Section 1.704-2(d). 
 “Net
Loss” means, with respect to a Taxable Year, the excess if any, of Losses for such Taxable Year over Profits for such Taxable Year (excluding Profits and Losses specially allocated pursuant to Section 5.03 and
Section 5.04). 
 “Net Profit” means, with respect to a Taxable Year, the excess if any,
of Profits for such Taxable Year over Losses for such Taxable Year (excluding Profits and Losses specially allocated pursuant to Section 5.03 and Section 5.04). 

“Non-Foreign Person Certificate” has the meaning set forth in
Section 11.07(a). 
 “Officer” has the meaning set forth in
Section 6.01(b). 

  
 9 

 “Optionee” means a Person to whom a stock option is granted under
any Stock Option Plan. 
 “Original LLC Agreement” has the meaning set forth in the Recitals. 

“Original Units” means the Class F Units, the Class P Units and the Class M Units (each as defined in
Section 3.3(a) of the Original LLC Agreement) of the Company. 
 “Other Agreements” has the meaning set forth
in Section 10.04. 
 “Over-Allotment Option” has the meaning set forth in the Recitals.

 “Over-Allotment Option Net Proceeds” has the meaning set forth in the Recitals. 

“Partnership Representative” has the meaning set forth in Section 9.03. 

“Percentage Interest” means, with respect to a Member at a particular time, such Member’s percentage interest in
the Company determined by dividing the number of such Member’s Units by the total number of Units of all Members at such time. The Percentage Interest of each Member shall be calculated to the fourth decimal place. 

“Permitted Transfer” has the meaning set forth in Section 10.02. 

“Permitted Transferee” has the meaning set forth in Section 10.02. 

“Person” means an individual or any corporation, partnership, limited liability company, trust, unincorporated
organization, association, joint venture or any other organization or entity, whether or not a legal entity. 
 “Pre-IPO Members” has the meaning set forth in the Recitals. 
 “Pro
rata,” “pro rata portion,” “according to their interests,” “ratably,” “proportionately,” “proportional,”
“in proportion to,” “based on the number of Units held,” “based upon the percentage of Units held,” “based upon the number of Units outstanding,” and
other terms with similar meanings, when used in the context of a number of Units of the Company relative to other Units, means as amongst an individual class of Units, pro rata based upon the number of such Units within such class of Units. 

“Profits” means items of income and gain of the Company determined according to
Section 5.01(b). 
 “Pubco Offer” has the meaning set forth in
Section 10.09(b). 
 “Qualifying Offering” means a
follow-on or qualified public or private offering of shares of Class A Common Stock by the Corporation following the date hereof. 

“Quarterly Tax Distribution” has the meaning set forth in Section 4.01(b)(i). 

“Recapitalization” has the meaning set forth in the Recitals. 

  
 10 

 “Redeemed Member” has the meaning set forth in
Section 11.02. 
 “Redeemed Units” has the meaning set forth in
Section 11.01(a). 
 “Redeemed Units Equivalent” means the product of (a) the
applicable number of Redeemed Units, multiplied by (b) the Common Unit Redemption Price. 
 “Redeeming
Member” has the meaning set forth in Section 11.01(a). 
 “Redemption” has
the meaning set forth in Section 11.01(a). 
 “Redemption Date” has the meaning set forth
in Section 11.01(a). 
 “Redemption Notice” has the meaning set forth in
Section 11.01(a). 
 “Redemption Right” has the meaning set forth in
Section 11.01(a). 
 “Registration Rights Agreement” means that certain Registration
Rights Agreement, dated as of the date hereof, by and among the Corporation, certain of the Members as of the date hereof and certain other Persons whose signatures are affixed thereto (together with any joinder thereto from time to time by any
successor or assign to any party to such agreement). 
 “Regulatory Allocations” has the meaning set forth in
Section 5.03(f). 
 “Reorganization” has the meaning set forth in the Recitals. 

“Retraction Notice” has the meaning set forth in Section 11.01(c). 

“Revised Partnership Audit Provisions” means Section 1101 of Title XI (Revenue Provisions Related to Tax
Compliance) of the Bipartisan Budget Act of 2015, H.R. 1314, Public Law Number 114-74, as amended. Unless the context requires otherwise, any reference herein to a specific section of the Revised Partnership
Audit Provisions shall be deemed to include any corresponding provisions of future Law as in effect for the relevant taxable period. 

“Schedule of Members” has the meaning set forth in Section 3.01(b). 

“SEC” means the U.S. Securities and Exchange Commission, including any governmental body or agency succeeding to the
functions thereof. 
 “Securities Act” means the U.S. Securities Act of 1933, as amended, and applicable rules and
regulations thereunder, and any successor to such statute, rules or regulations. Any reference herein to a specific section, rule or regulation of the Securities Act shall be deemed to include any corresponding provisions of future Law. 

“Share Settlement” means a number of shares of Class A Common Stock or, in the event of a Redemption by a Founder
Member, a number of shares of Class D Common Stock (together with any Corresponding Rights), as applicable, equal to the number of Redeemed Units. 

“Specified Members” has the meaning set forth in Section 9.03. 

  
 11 

 “Stock Exchange” means The Nasdaq Stock Market. 

“Stock Option Plan” means any stock option plan now or hereafter adopted by the Company or by the Corporation,
including the Corporate Incentive Award Plan. 
 “Subsidiary” means, with respect to any Person, any corporation,
limited liability company, partnership, association or business entity of which (a) if a corporation, a majority of the total voting power of shares of stock entitled (without regard to the occurrence of any contingency) to vote in the election
of directors, managers or trustees thereof is at the time owned or controlled, directly or indirectly, by that Person or one or more of the other Subsidiaries of that Person or a combination thereof, or (b) if a limited liability company,
partnership, association or other business entity (other than a corporation), a majority of the voting interests thereof are at the time owned or controlled, directly or indirectly, by any Person or one or more Subsidiaries of that Person or a
combination thereof. For purposes hereof, references to a “Subsidiary” of the Company shall be given effect only at such times that the Company has one or more Subsidiaries, and, unless otherwise indicated, the term “Subsidiary”
refers to a Subsidiary of the Company. For the avoidance of doubt, the “Subsidiaries” of the Company shall include any and all of the Company’s direct and indirect, greater than fifty percent (50%) owned joint ventures. 

“Substituted Member” means a Person that is admitted as a Member to the Company pursuant to
Section 12.01. 
 “Tax Distributions” has the meaning set forth in
Section 4.01(b)(i). 
 “Tax Receivable Agreement” means that certain Tax Receivable
Agreement, dated as of the date hereof, by and among the Corporation and the Company, on the one hand, and the Members (as such term is defined in the Tax Receivable Agreement) party thereto, on the other hand (together with any joinder thereto from
time to time by any successor or assign to any party to such agreement). 
 “Taxable Year” means the Company’s
accounting period for U.S. federal income tax purposes determined pursuant to Section 9.02. 
 “Trading
Day” means a day on which the Stock Exchange or such other principal United States securities exchange on which the Class A Common Stock is listed or admitted to trading is open for the transaction of business (unless such trading
shall have been suspended for the entire day). 
 “Transfer” (and, with a correlative meaning,
“Transferred” and “Transferring”) means any sale, transfer, assignment, redemption, pledge, encumbrance or other disposition of (whether directly or indirectly, whether with or without consideration
and whether voluntarily or involuntarily or by operation of Law) (a) any interest (legal or beneficial) in any Equity Securities of the Company or (b) any equity or other interest (legal or beneficial) in any Member that is not an
institutional investor if substantially all of the assets of such Member consist solely of Units. 
 “Treasury
Regulations” means the final, temporary and (to the extent they can be relied upon) proposed regulations under the Code, as promulgated from time to time (including corresponding provisions and succeeding provisions) as in effect for
the relevant taxable period. 

  
 12 

 “Underwriting Agreement” means the Underwriting Agreement, dated as
of the date hereof, by and among the Company, J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC, Jefferies LLC and Cowen and Company, LLC. 

“Unit” means the fractional interest of a Member in Profits, Losses and Distributions of the Company, and otherwise
having the rights and obligations specified with respect to “Units” in this Agreement; provided, however, that any class or group of Units issued shall have the relative rights, powers and duties set forth in this Agreement
applicable to such class or group of Units. 
 “Unvested Corporate Shares” means shares of Class A Common Stock
issuable pursuant to awards granted under the Corporate Incentive Award Plan that are not Vested Corporate Shares. 

“Value” means (a) for any Stock Option Plan, the Market Price for the Trading Day immediately preceding the date
of exercise of a stock option under such Stock Option Plan and (b) for any Equity Plan other than a Stock Option Plan, the Market Price for the Trading Day immediately preceding the Vesting Date. 

“Vested Corporate Shares” means the shares of Class A Common Stock issued pursuant to awards granted under the
Corporate Incentive Award Plan that are vested pursuant to the terms thereof or any award or similar agreement relating thereto. 

“Vesting Date” has the meaning set forth in Section 3.10(c)(ii). 

“VWAP” means with respect to shares of Class A Common Stock, the daily per share volume-weighted average price
per share of Class A Common Stock, regular way, or if no such sale took place on such day, the average of the closing bid and asked prices per share of Class A Common Stock, regular way, in either case as reported in the principal
consolidated transaction reporting system with respect to securities listed or admitted to trading on the Stock Exchange or, if the Class A Common Stock is not listed or admitted to trading on the Stock Exchange, as reported on the principal
consolidated transaction reporting system with respect to securities listed on the principal national securities exchange on which the Class A Common Stock is listed or admitted to trading or, if the Class A Common Stock is not listed or
admitted to trading on any national securities exchange, the last quoted price, or, if not so quoted, the average of the high bid and low asked prices in the
over-the-counter market, as reported by the National Association of Securities Dealers, Inc. Automated Quotation System or, if such system is no longer in use, the
principal other automated quotation system that may then be in use or, if the Class A Common Stock is not quoted by any such system, the average of the closing bid and asked prices as furnished by a professional market maker making a market in
shares of Class A Common Stock selected by the Corporate Board or, in the event that no trading price is available for the shares of Class A Common Stock, the fair market value of a share of Class A Common Stock, as determined in good
faith by the Corporate Board. 
 ARTICLE II.ORGANIZATIONAL MATTERS 

Section 2.01 Formation of Company. The Company was initially formed as a Delaware corporation on
August 25, 2005, and converted to the Company on November 29, 2012 pursuant to the provisions of the Delaware Act and the DGCL. 

  
 13 

 Section 2.02 Amended and Restated Limited Liability Company
Agreement. The Members hereby execute this Agreement for the purpose of amending, restating and superseding the Original LLC Agreement in its entirety and otherwise establishing the affairs of the Company and the conduct of its business in
accordance with the provisions of the Delaware Act. The Members hereby agree that during the term of the Company set forth in Section 2.06 the rights and obligations of the Members with respect to the Company will be
determined in accordance with the terms and conditions of this Agreement and the Delaware Act. No provision of this Agreement shall be in violation of the Delaware Act and to the extent any provision of this Agreement is in violation of the Delaware
Act, such provision shall be void and of no effect to the extent of such violation without affecting the validity of the other provisions of this Agreement. Neither any Member nor the Manager nor any other Person shall have appraisal rights with
respect to any Units. 
 Section 2.03 Name. The name of the Company is “Brilliant Earth, LLC”.
The Manager in its sole discretion may change the name of the Company at any time and from time to time. Notification of any such change shall be given to all of the Members. The Company’s business may be conducted under its name and/or any
other name or names deemed advisable by the Manager. 
 Section 2.04 Purpose; Powers. The primary business
and purpose of the Company shall be to engage in such activities as are permitted under the Delaware Act and determined from time to time by the Manager in accordance with the terms and conditions of this Agreement. The Company shall have the power
and authority to take (directly or indirectly through its Subsidiaries) any and all actions and engage in any and all activities necessary, appropriate, desirable, advisable, ancillary or incidental to accomplish the foregoing purpose. 

Section 2.05 Principal Office; Registered Office. The principal office of the Company shall be located at
such place or places as the Manager may from time to time designate, each of which may be within or outside the State of Delaware. The address of the registered office of the Company in the State of Delaware shall be c/o Incorporating Services,
Ltd., 3500 S. Dupont Hwy, Dover, Delaware 19901, and the registered agent for service of process on the Company in the State of Delaware at such registered office shall be Incorporating Services, Ltd. The Manager may from time to time change the
Company’s registered agent and registered office in the State of Delaware. 
 Section 2.06 Term. The
Company shall continue in perpetuity unless dissolved in accordance with the provisions of Article XIV. 

Section 2.07 No State-Law Partnership. The Members intend that the
Company not be a partnership (including, without limitation, a limited partnership) or joint venture, and that no Member be a partner or joint venturer of any other Member by virtue of this Agreement, for any purposes other than as set forth in the
last sentence of this Section 2.07, and neither this Agreement nor any other document entered into by the Company or any Member relating to the subject matter hereof shall be construed to suggest otherwise. The Members
intend that the Company shall be treated as a partnership for U.S. federal and, if applicable, state or local income tax purposes, and that each Member and the Company shall file all tax returns and shall otherwise take all tax and financial
reporting positions in a manner consistent with such treatment. 

  
 14 

 Section 2.08 Liability. Except as otherwise provided by the
Delaware Act, the debts, obligations and liabilities of the Company, whether arising in contract, tort or otherwise, shall be solely the debts, obligations and liabilities of the Company, and no Member or Manager shall be obligated personally for
any such debt, obligation or liability of the Company solely by reason of being a Member or acting as Manager. 
 ARTICLE III. 

MEMBERS; UNITS; CAPITALIZATION 

Section 3.01 Members. 

(a) In connection with the Reorganization, the Corporation and was admitted as a Member and will acquire Common Units pursuant to the IPO
Common Unit Subscription Agreement. 
 (b) The Company shall maintain a schedule setting forth: (i) the name and address of each Member;
(ii) the aggregate number of outstanding Units and the number and class of Units held by each Member; (iii) the Capital Account of each Member on the Effective Date; (iv) the aggregate amount of cash Capital Contributions that has
been made by the Members with respect to their Units; and (v) the Fair Market Value of any property other than cash contributed by the Members with respect to their Units (including, if applicable, a description and the amount of any liability
assumed by the Company or to which contributed property is subject) (such schedule, the “Schedule of Members”). The applicable Schedule of Members in effect as of the Effective Date and after giving effect to the
Recapitalization, the IPO Common Unit Subscription Agreement and any Common Units to be purchased by the Corporation from the Members with the IPO Net Proceeds is set forth as Schedule 2 to this Agreement. The Schedule of
Members may be updated by the Manager without the consent of any Member in the Company’s books and records from time to time, and as so updated, it shall be the definitive record of ownership of each Unit of the Company and all relevant
information with respect to each Member. The Company shall be entitled to recognize the exclusive right of a Person properly registered on its records as the owner of Units for all purposes and shall not be bound to recognize any equitable or other
claim to or interest in Units on the part of any other Person, whether or not it shall have express or other notice thereof, except as otherwise provided by the Delaware Act or other applicable Law. 

(c) No Member shall be required or, except as approved by the Manager pursuant to Section 6.01 and in accordance with
the other provisions of this Agreement, permitted to (i) loan any money or property to the Company, (ii) borrow any money or property from the Company or (iii) make any additional Capital Contributions. 

Section 3.02 Units. 

(a) Interests in the Company shall be represented by Units, or such other securities of the Company, in each case as the Manager may establish
in its discretion in accordance with the terms and subject to the restrictions hereof. At the Effective Date, the Units will be comprised of a single class of Common Units. 

  
 15 

 (b) Subject to Section 3.04(a), the Manager may (i) issue
additional Common Units at any time in its sole discretion and (ii) create one or more classes or series of Units or preferred Units solely to the extent such new class or series of Units or preferred Units are substantially economically
equivalent to a class of common or other stock of the Corporation or class or series of preferred stock of the Corporation, respectively; provided, that as long as there are any Members (other than the Corporation and its
Subsidiaries) (i) no such new class or series of Units may deprive such Members of, or dilute or reduce, the allocations and distributions they would have received, and the other rights and benefits to which they would have been entitled, in
respect of their Units if such new class or series of Units had not been created and (ii) no such new class or series of Units may be issued, in each case, except to the extent (and solely to the extent) the Company actually receives cash in an
aggregate amount, or other property with a Fair Market Value in an aggregate amount, equal to the aggregate distributions that would be made in respect of such new class or series of Units if the Company were liquidated immediately after the
issuance of such new class or series of Units. When any such other Units or other Equity Securities are authorized and issued, the Schedule of Members and this Agreement shall be amended by the Manager to reflect such additional issuances. 

(c) Subject to Sections 15.03(b) and Section 15.03(c), the Manager may amend this Agreement, without the
consent of any Member or any other Person, in connection with the creation and issuance of such classes or series of Units, pursuant to Sections 3.02(b), 3.04(a) or 3.10. 

Section 3.03 Recapitalization; the Corporation’s Capital Contribution; the
Corporation’s Purchase of Common Units. 
 (a) In order to effect the Recapitalization, the number of Original Units
that were issued and outstanding and held by the Pre-IPO Members prior to the Effective Date as set forth opposite the respective Pre-IPO Member’s name in
Schedule 1 are hereby converted, as of the Effective Date, and after giving effect to such conversion and the other transactions related to the Recapitalization, into the number of Common Units set forth opposite the name of the respective Pre-IPO Member’s name on the Schedule of Members attached hereto as Schedule 2 (provided, for the avoidance of doubt, that the number of Common Units set forth on Schedule 2 includes the
Common Units issued to the Corporation pursuant to the IPO Common Unit Subscription Agreement and reflects any Common Units to be purchased by the Corporation from the Members with the IPO Net Proceeds), and such Common Units are hereby issued and
outstanding as of the Effective Date and the holders of such Common Units hereby continue as members of the Company (and, for the avoidance of doubt, are Members hereunder) and the Company is hereby continued without dissolution. 

(b) Following the Recapitalization, (i) the Company shall issue to the Corporation, and the Corporation will acquire [ ● ]
newly issued Common Units in exchange for a portion of the IPO Net Proceeds payable to the Company upon consummation of the IPO pursuant to the IPO Common Unit Subscription Agreement with the Company (the “IPO Common Unit
Subscription”) and (ii) the Corporation will purchase [ ● ] Common Units from the Members with a portion of the IPO Net Proceeds payable to the Members upon consummation of the IPO, and the Corporation is hereby
admitted as a Member. In addition, to the extent the underwriters in the IPO exercise the Over-Allotment Option in whole or in part, upon the exercise of the Over-Allotment Option, the Corporation will use the Over-Allotment Option Net Proceeds to
purchase Common Units from the Members. For the avoidance of doubt, the Corporation shall be admitted as a Member with respect to all Common Units it holds from time to time. 

  
 16 

 Section 3.04 Authorization and Issuance of Additional
Units. 
 (a) The Company, and the Corporation shall, notwithstanding any other provision of this Agreement, undertake all actions,
including, without limitation, an issuance, reclassification, distribution, division, repurchase, redemption, cancellation or recapitalization, with respect to the Common Units, the Class A Common Stock, the Class B Common Stock, the
Class C Common Stock or the Class D Common Stock, as applicable, to maintain at all times (i) a one-to-one ratio between the number of Common Units owned
by the Corporation, directly or indirectly, and the aggregate number of outstanding shares of Class A Common Stock and Class D Common Stock, (ii) a
one-to-one ratio between the number of Common Units owned by Members (other than the Founder Members, the Corporation and its Subsidiaries), directly or indirectly, and
the number of outstanding shares of Class B Common Stock, and (iii) a one-to-one ratio between the number of Common Units owned by the Founder Members,
directly or indirectly, and the number of outstanding shares of Class C Common Stock, in each case disregarding, for purposes of maintaining the one-to-one ratio,
(A) Unvested Corporate Shares, (B) treasury stock or (C) preferred stock or other debt or Equity Securities (including any Corresponding Rights) issued by the Corporation that are convertible into or exercisable or exchangeable for
Class A Common Stock, Class B Common Stock, Class C Common Stock or Class D Common Stock (except to the extent the net proceeds from such other securities, including any exercise or purchase price payable upon conversion,
exercise or exchange thereof, has been contributed by the Corporation to the equity capital of the Company). In the event the Corporation issues, transfers or delivers from treasury stock or repurchases or redeems Class A Common Stock or
Class D Common Stock in a transaction not contemplated in this Agreement, the Manager, the Company and the Corporation shall, notwithstanding any other provision of this Agreement to the contrary, take all actions such that, after giving effect
to all such issuances, transfers, deliveries, repurchases or redemptions, the number of outstanding Common Units owned, directly or indirectly, by the Corporation will equal on a
one-for-one basis the aggregate number of outstanding shares of Class A Common Stock and Class D Common Stock. In the event the Corporation issues, transfers
or delivers from treasury stock or repurchases or redeems the Corporation’s capital stock (other than the Class A Common Stock, Class B Common Stock, Class C Common Stock and Class D Common Stock) or preferred stock in a
transaction not contemplated in this Agreement, the Manager, the Company and the Corporation shall, notwithstanding any other provision of this Agreement to the contrary, take all actions such that, after giving effect to all such issuances,
transfers, deliveries, repurchases or redemptions, the Corporation, directly or indirectly, holds (in the case of any issuance, transfer or delivery) or ceases to hold (in the case of any repurchase or redemption) Equity Securities in the Company
which (in the good faith determination by the Manager) are in the aggregate substantially economically equivalent to the outstanding capital stock (other than the Class A Common Stock, Class B Common Stock, Class C Common Stock and
Class D Common Stock) or preferred stock of the Corporation so issued, transferred, delivered, repurchased or redeemed. In the event the Corporation issues, transfers or delivers from treasury stock or repurchases or redeems Class B Common
Stock in a transaction not contemplated in this Agreement, the Manager and the Company shall, notwithstanding any other provision of this Agreement to the contrary, take all actions such that, after giving effect to all such issuances, transfers,
deliveries, repurchases or redemptions, the number of outstanding Common Units owned, directly or indirectly, by the 

  
 17 

 
Members (other than the Founder Members, the Corporation and its Subsidiaries), directly or indirectly, will equal on a
one-for-one basis the number of outstanding shares of Class B Common Stock. In the event the Corporation issues, transfers or delivers from treasury stock or
repurchases or redeems Class C Common Stock in a transaction not contemplated in this Agreement, the Manager and the Company shall, notwithstanding any other provision of this Agreement to the contrary, take all actions such that, after giving
effect to all such issuances, transfers, deliveries, repurchases or redemptions, the number of outstanding Common Units owned, directly or indirectly, by the Founder Members, directly or indirectly, will equal on a one-for-one basis the aggregate number of outstanding shares of Class C Common Stock. The Company, the Manager and the Corporation shall not undertake any subdivision (by any Common Unit split, stock
split, Common Unit distribution, stock distribution, reclassification, division, recapitalization or similar event) or combination (by reverse Common Unit split, reverse stock split, reclassification, division, recapitalization or similar event) of
the Common Units or the Class A Common Stock, Class B Common Stock, Class C Common Stock or Class D Common Stock, as applicable, that is not accompanied by an identical subdivision or combination of Class A Common Stock,
Class B Common Stock, Class C Common Stock and Class D Common Stock or Common Units respectively, to maintain at all times (x) a one-to-one ratio
between the number of Common Units owned, directly or indirectly, by the Corporation and the number of outstanding shares of Class A Common Stock and Class D Common Stock, (y) a one-to-one ratio between the number of Common Units owned by Members (other than the Founder Members, the Corporation and its Subsidiaries) and the number of outstanding shares of Class B Common Stock
and (z) a one-to-one ratio between the number of Common Units owned by the Founder Members, directly or indirectly, and the number of outstanding shares of
Class C Common Stock, in each case, unless such action is necessary to maintain at all times a one-to-one ratio between each of (i) the number of Common Units
owned, directly or indirectly, by the Corporation and the aggregate number of outstanding shares of Class A Common Stock and Class D Common Stock, (ii) the number of Common Units owned by Members (other than the Founder Members, the
Corporation and its Subsidiaries) and the number of outstanding shares of Class B Common Stock and (iii) the number of Common Units owned by the Founder Members, directly or indirectly, and the number of outstanding shares of Class C
Common Stock, in each case as contemplated by the first sentence of this Section 3.04(a). 
 (b) The Company shall
only be permitted to issue additional Common Units, and/or establish other classes or series of Units or other Equity Securities in the Company to the Persons and on the terms and conditions provided for in Section 3.02,
this Section 3.04, Section 3.10 and Section 3.11. Subject to the foregoing, the Manager may cause the Company to issue additional Common Units authorized under this
Agreement and/or establish other classes or series of Units or other Equity Securities in the Company at such times and upon such terms as the Manager shall determine and the Manager shall amend this Agreement solely to the extent necessary in
connection with the issuance of additional Common Units, to establish other classes or series of Units or other Equity Securities in the Company, or admission of additional Members under this Section 3.04, in each case
without the requirement of any consent or acknowledgement of any other Member or any other Person and notwithstanding anything to the contrary herein, including Section 15.03. Without the prior written consent of
(i) both the Mainsail Related Parties and the Just Rocks Related Parties that are Members, at any time that the Mainsail Related Parties and the Just Rocks Related Parties that are Members continue to hold a majority of the Units then
outstanding (excluding in each case for purposes of such calculations the Corporation and all Units 

  
 18 

 
held directly or indirectly by it), and (ii) the Members holding a majority of the Units then outstanding, at any other time (excluding for purposes of such calculation the Corporation and
all Units held directly or indirectly by it), the Corporation agrees not to form or hold any interest in any Subsidiary other than (i) indirectly through the Company or (ii) a Subsidiary of the Corporation that holds no assets other than,
directly or indirectly, Equity Securities of the Company and does not itself conduct any of the Business. 

Section 3.05 Repurchase or Redemption of Shares of Class A Common Stock or
Class D Common Stock; Other Redemptions or Repurchases. If at any time, any shares of Class A Common Stock or Class D Common Stock are repurchased or redeemed (whether by exercise of a put or call, automatically or
by means of another arrangement) by the Corporation for cash, then the Manager shall cause the Company, immediately prior to such repurchase or redemption of Class A Common Stock or Class D Common Stock, to redeem a corresponding number of
Common Units held (directly or indirectly) by the Corporation, at an aggregate redemption price equal to the aggregate purchase or redemption price of the shares of Class A Common Stock or Class D Common Stock being repurchased or redeemed
by the Corporation (plus any expenses related thereto) and upon such other terms as are the same for the shares of Class A Common Stock or Class D Common Stock being repurchased or redeemed by the Corporation; provided, if the
Corporation uses funds received from distributions from the Company or the net proceeds from an issuance of Class A Common Stock or Class D Common Stock to fund such repurchase or redemption, then the Company shall cancel a corresponding
number of Common Units held (directly or indirectly) by the Corporation for no consideration. The Corporation may not redeem, repurchase or otherwise acquire any other Equity Securities of the Corporation unless substantially simultaneously the
Company redeems, repurchases or otherwise acquires (and the Company agrees to so redeem, repurchase or otherwise acquire) from the Corporation (and the Corporation agrees to deliver to the Company) an equal number of Equity Securities of the Company
of a corresponding class or series with substantially the same rights to dividends and distributions (including distributions upon liquidation) and other economic rights as those of such Equity Securities of the Corporation for the same price per
security. Notwithstanding any provision to the contrary contained in this Agreement, neither the Company nor the Corporation shall make any repurchase, redemption or other acquisition if such repurchase, redemption or other acquisition, or the
corresponding repurchase, redemption or other acquisition at the other of the Company or the Corporation, would violate any applicable Law. 

Section 3.06 Certificates Representing Units; Lost, Stolen or Destroyed Certificates; Registration and Transfer
of Units. 
 (a) Units shall not be certificated unless otherwise determined by the Manager. If the Manager determines that one or more
Units shall be certificated, each such certificate shall be signed by or in the name of the Company, by the Chief Executive Officer, Chief Financial Officer, General Counsel, Secretary or any other officer designated by the Manager, representing the
number of Units held by such holder. Such certificate shall be in such form (and shall contain such legends) as the Manager may determine. Any or all of such signatures on any certificate representing one or more Units may be a facsimile, engraved
or printed, to the extent permitted by applicable Law. No Units shall be treated as a “security” within the meaning of Article 8 of the Uniform Commercial Code unless all Units then outstanding are certificated; notwithstanding anything to
the contrary herein, including Section 15.03, the Manager is authorized to amend this Agreement in order for the Company to opt-in to the provisions of Article 8 of the Uniform
Commercial Code without the consent or approval of any Member of any other Person. 

  
 19 

 (b) If Units are certificated, the Manager may direct that a new certificate representing
one or more Units be issued in place of any certificate theretofore issued by the Company alleged to have been lost, stolen or destroyed, upon delivery to the Manager of an affidavit of the owner or owners of such certificate, setting forth such
allegation. The Manager may require the owner of such lost, stolen or destroyed certificate, or such owner’s legal representative, to give the Company a bond sufficient to indemnify it against any claim that may be made against it on account of
the alleged loss, theft or destruction of any such certificate or the issuance of any such new certificate. 
 (c) To the extent Units are
certificated, upon surrender to the Company or the transfer agent of the Company, if any, of a certificate for one or more Units, duly endorsed or accompanied by appropriate evidence of succession, assignment or authority to transfer, in compliance
with the provisions hereof, the Company shall issue a new certificate representing one or more Units to the Person entitled thereto, cancel the old certificate and record the transaction upon its books. Subject to the provisions of this Agreement,
the Manager may prescribe such additional rules and regulations as it may deem appropriate relating to the issue, Transfer and registration of Units. 

Section 3.07 Negative Capital Accounts. No Member shall be required to pay to any other Member or the Company
any deficit or negative balance which may exist from time to time in such Member’s Capital Account (including upon and after dissolution of the Company). 

Section 3.08 No Withdrawal. No Person shall be entitled to withdraw any part of such Person’s Capital
Contribution or Capital Account or to receive any Distribution from the Company, except as expressly provided in this Agreement. 

Section 3.09 Loans From Members. Loans by Members to the Company shall not be considered Capital
Contributions. Subject to the provisions of Section 3.01(c), the amount of any such loans shall be a debt of the Company to such Member and shall be payable or collectible in accordance with the terms and conditions upon
which such loans are made. 
 Section 3.10 Corporate Stock Option Plans and Equity Plans. 

(a) Options Granted to Persons other than LLC Employees. If at any time or from time to time, in connection with any Stock
Option Plan, a stock option granted over shares of Class A Common Stock to a Person other than an LLC Employee is duly exercised, the following will occur or be deemed to have occurred: 

(i) The Corporation shall, as soon as practicable after such exercise, make a Capital Contribution to the Company in an amount
equal to the exercise price paid to the Corporation by such exercising Person in connection with the exercise of such stock option. 

(ii) Notwithstanding the amount of the Capital Contribution actually made pursuant to
Section 3.10(a)(i), the Corporation shall be deemed to have contributed to the Company as a Capital Contribution, in lieu of the Capital Contribution actually made and in consideration of additional Common Units, an amount
equal to the Value of a share of Class A Common Stock as of the date of such exercise multiplied by the number of shares of Class A Common Stock then being issued by the Corporation in connection with the exercise of such stock option.

  
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 (iii) The Corporation shall receive in exchange for such Capital
Contributions (as deemed made under Section 3.10(a)(ii)), a number of Common Units equal to the number of shares of Class A Common Stock for which such option was exercised. 

(b) Options Granted to LLC Employees. If at any time or from time to time, in connection with any Stock Option Plan, a stock option
granted over shares of Class A Common Stock to an LLC Employee is duly exercised: 
 (i) The Corporation shall be deemed
to sell to the Optionee, and the Optionee shall be deemed to purchase from the Corporation, for a cash price per share equal to the Value of a share of Class A Common Stock at the time of the exercise, the number of shares of Class A
Common Stock equal to the quotient of (x) the exercise price payable by the Optionee in connection with the exercise of such stock option divided by (y) the Value of a share of Class A Common Stock at the time of such exercise. 

(ii) The Corporation shall sell to the Company (or if the Optionee is an employee of, or other service provider to, a
Subsidiary, the Corporation shall sell to such Subsidiary), and the Company (or such Subsidiary, as applicable) shall purchase from the Corporation, a number of shares of Class A Common Stock equal to the difference between (x) the number
of shares of Class A Common Stock as to which such stock option is being exercised minus (y) the number of shares of Class A Common Stock sold pursuant to Section 3.10(b)(i) hereof. The purchase price per
share of Class A Common Stock for such sale of shares of Class A Common Stock to the Company (or such Subsidiary) shall be the Value of a share of Class A Common Stock as of the date of exercise of such stock option. 

(iii) The Company shall transfer to the Optionee (or if the Optionee is an employee of, or other service provider to, a
Subsidiary, the Subsidiary shall transfer to the Optionee) at no additional cost to such LLC Employee and as additional compensation (and, to the fullest extent permitted by Law, not a distribution) to such LLC Employee, the number of shares of
Class A Common Stock described in Section 3.10(b)(ii). 
 (iv) The Corporation shall, as soon
as practicable after such exercise, make a Capital Contribution to the Company in an amount equal to all proceeds received (from whatever source, but excluding any payment in respect of payroll taxes or other withholdings) by the Corporation in
connection with the exercise of such stock option. The Corporation shall receive for such Capital Contribution, a number of Common Units equal to the number of shares of Class A Common Stock for which such option was exercised. 

(c) Restricted Stock Granted to LLC Employees. If at any time or from time to time, in connection with any Equity Plan (other than a
Stock Option Plan) any shares of Class A Common Stock are issued to an LLC Employee (including any shares of Class A Common Stock that are subject to forfeiture in the event such LLC Employee terminates his or her employment with the
Company or any Subsidiary or that are otherwise subject to vesting or other conditions) in consideration for services performed for the Company or any Subsidiary: 

  
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 (i) The Corporation shall issue such number of shares of Class A Common
Stock as are to be issued to such LLC Employee in accordance with the Equity Plan; 
 (ii) On the date (such date, the
“Vesting Date”) that the Value of such shares is includible in taxable income of such LLC Employee, the following events will be deemed to have occurred: (1) the Corporation shall be deemed to have sold such shares of
Class A Common Stock to the Company (or if such LLC Employee is an employee of, or other service provider to, a Subsidiary, to such Subsidiary) for a purchase price equal to the Value of such shares of Class A Common Stock, (2) the
Company (or such Subsidiary) shall be deemed to have delivered such shares of Class A Common Stock to such LLC Employee, (3) the Corporation shall be deemed to have contributed the purchase price for such shares of Class A Common
Stock to the Company as a Capital Contribution, and (4) in the case where such LLC Employee is an employee of a Subsidiary, the Company shall be deemed to have contributed such amount to the capital of the Subsidiary; 

(iii) The Company shall issue to the Corporation on the Vesting Date a number of Common Units equal to the number of shares of
Class A Common Stock issued under Section 3.10(c)(i) in consideration for a Capital Contribution that the Corporation is deemed to make to the Company pursuant to clause (3) of
Section 3.10(c)(ii) above; and 
 (iv) In the event that shares of Class A Common Stock
described in this Section 3.10(c) are forfeited after a Vesting Date has occurred, the Common Units issued to the Corporation pursuant to Section 3.10(c)(iii) with respect to such Class A
Common Stock shall also be forfeited. 
 (d) Future Stock Incentive Plans. Nothing in this Agreement shall be construed or applied to
preclude or restrain the Corporation from adopting, modifying or terminating stock incentive plans for the benefit of employees, directors or other business associates of the Corporation, the Company or any of their respective Affiliates. The
Members acknowledge and agree that, in the event that any such plan is adopted, modified or terminated by the Corporation, amendments to this Section 3.10 may become necessary or advisable and that any approval or consent
to any such amendments requested by the Corporation shall be deemed granted by the Manager and the Members, as applicable, without the requirement of any further consent or acknowledgement of any other Member. 

(e) Anti-dilution Adjustments. For all purposes of this Section 3.10, the number of shares of Class A
Common Stock and the corresponding number of Common Units shall be determined after giving effect to all anti-dilution or similar adjustments that are applicable, as of the date of exercise or vesting, to the option, warrant, restricted stock or
other equity interest that is being exercised or becomes vested under the applicable Stock Option Plan or other Equity Plan and applicable award or grant documentation. 

  
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 Section 3.11 Dividend Reinvestment Plan, Cash Option Purchase
Plan, Stock Incentive Plan or Other Plan. Except as may otherwise be provided in this Article III, all amounts received or deemed received by the Corporation in respect of any dividend reinvestment plan, cash option purchase plan, stock
incentive or other stock or subscription plan or agreement, either (a) shall be utilized by the Corporation to effect open market purchases of shares of Class A Common Stock, or (b) if the Corporation elects instead to issue new
shares of Class A Common Stock with respect to such amounts, shall be contributed by the Corporation to the Company in exchange for additional Common Units. Upon such contribution, the Company will issue to the Corporation a number of Common
Units equal to the number of new shares of Class A Common Stock so issued. 
 ARTICLE IV. 

DISTRIBUTIONS 

Section 4.01 Distributions. 

(a) Distributable Cash; Other Distributions. 

(i) To the extent permitted by applicable Law and hereunder, Distributions to Members may be declared by the Manager out of
Distributable Cash or other funds or property legally available therefor in such amounts, at such time and on such terms (including the payment dates of such Distributions) as the Manager in its sole discretion shall determine using such record date
as the Manager may designate. All Distributions made under this Section 4.01 shall be made to the Members holding Common Units as of the close of business on such record date on a pro rata basis in accordance with
each Member’s Percentage Interest (other than, for the avoidance of doubt, any distributions made pursuant to Section 4.01(b)(v)) as of the close of business on such record date; provided, however, that the
Manager shall have the obligation to make Distributions as set forth in Sections 4.01(b) and 14.02; provided, further, that notwithstanding any other provision herein to the contrary, no distributions shall be made to any
Member to the extent such distribution would render the Company insolvent or violate the Delaware Act. For purposes of the foregoing sentence, “insolvency” means the inability of the Company to meet its payment obligations when due. In
furtherance of the foregoing, it is intended that the Manager shall, to the extent permitted by applicable Law and hereunder, have the right in its sole discretion to make Distributions of Distributable Cash to the Members pursuant to this
Section 4.01(a) in such amounts as shall enable the Corporation to meet its obligations, including its obligations pursuant to the Tax Receivable Agreement (to the extent such obligations are not otherwise able to be
satisfied as a result of Tax Distributions required to be made pursuant to Section 4.01(b)). 

(ii) Notwithstanding anything to the contrary in Section 4.01(a)(i), (i) the Company shall not make a
distribution (other than Tax Distributions under Section 4.01(b)) to any Member in respect of any Common Units which remain subject to vesting conditions in accordance with any applicable equity plan or individual award
agreement and (ii) with respect to any amounts that would otherwise have been distributed to a Member but for the preceding clause (i), such amount shall be held in trust by the Company for the benefit of such Member unless and until such time
as such Common Units have vested or been forfeited in accordance with the applicable equity plan or individual award agreement, and within five (5) Business Days of such time, the Company shall distribute such amounts to such Member;
provided, that, if any condition to the vesting of such unvested Common Unit becomes incapable of being satisfied, then any amounts that have not been distributed with respect to such unvested Common Unit may be distributed to all other
Members in accordance with Section 4.01(a)(i) as if such distribution were a new distribution pursuant to Section 4.01(a)(i). 

  
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 (b) Tax Distributions. 

(i) With respect to each Taxable Year, the Company shall, to the extent permitted by applicable Law, make cash distributions
(“Tax Distributions”) to each Member in accordance with, and to the extent of, such Member’s Assumed Tax Liability. Tax Distributions pursuant to this Section 4.01(b)(i) shall be estimated by
the Company on a quarterly basis and, to the extent feasible, shall be distributed to the Members (together with a statement showing the calculation of such Tax Distribution and an estimate of the Company’s net taxable income allocable to each
Member for such period) on a quarterly basis before each April 15th, June 15th, September
15th and December 15th (or such other dates for which corporations or individuals are required to make quarterly estimated tax payments for
U.S. federal income tax purposes, whichever is earlier) (each, a “Quarterly Tax Distribution”); provided, that the foregoing shall not restrict the Company from making a Tax Distribution on any other date as the
Company determines is necessary to enable the Members to timely make estimated income tax payments. Quarterly Tax Distributions shall take into account the estimated taxable income or loss of the Company for the Taxable Year through the end of the
relevant quarterly period. A final accounting for Tax Distributions shall be made for each Taxable Year after the allocation of the Company’s actual net taxable income or loss has been determined and any shortfall in the amount of Tax
Distributions a Member received for such Taxable Year based on such final accounting shall promptly be distributed to such Member. For the avoidance of doubt, any excess Tax Distributions a Member receives with respect to any Taxable Year shall
reduce future Tax Distributions otherwise required to be made to such Member with respect to any subsequent Taxable Year. For the avoidance of doubt, Tax Distributions shall not be treated as an advance on any Distributions. 

(ii) To the extent a Member otherwise would be entitled to receive less than its Percentage Interest of the aggregate Tax
Distributions to be paid pursuant to this Section 4.01(b) (other than any distributions made pursuant to the second clause of the last sentence of this Section 4.01(b)(ii) in respect of a
shortfall, pursuant to the last sentence of Section 4.01(b)(iii) in respect of a shortfall, or pursuant to Section 4.01(b)(v)) on any given date, the Tax Distributions to such Member shall be
increased to ensure that all Distributions made pursuant to this Section 4.01(b) are made pro rata in accordance with the Members’ respective Percentage Interests. If, on the date of a Tax Distribution, there
are insufficient funds on hand to distribute to the Members the full amount of the Tax Distributions to which such Members are otherwise entitled, Distributions pursuant to this Section 4.01(b) shall be made to the Members
to the extent of available funds in accordance with their Percentage Interests and the Company shall make future Tax Distributions in accordance with the Members’ Percentage Interests at the time of such shortfalls as soon as sufficient funds
become available to pay the remaining portion of the Tax Distributions to which such Members are otherwise entitled. 

  
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 (iii) In the event of any audit by, or similar event with, a Governmental
Entity that affects the calculation of any Member’s Assumed Tax Liability for any Taxable Year (other than an audit conducted pursuant to the Revised Partnership Audit Provisions for which no election is made pursuant to Section 6226
thereof and the Treasury Regulations promulgated thereunder), or in the event the Company files an amended tax return or administrative adjustment request, each Member’s Assumed Tax Liability with respect to such year shall be recalculated by
giving effect to such event (for the avoidance of doubt, taking into account interest or penalties). Any shortfall in the amount of Tax Distributions the Members and former Members received for the relevant Taxable Years based on such recalculated
Assumed Tax Liability promptly shall be distributed to such Members and the successors of such former Members in accordance with the applicable Members’ and former Members’ Percentage Interests at the time of such shortfalls, except, for
the avoidance of doubt, to the extent Distributions were made to such Members and former Members pursuant to Section 4.01(a) and this Section 4.01(b) in the relevant Taxable Years sufficient to
cover such shortfall. 
 (iv) Notwithstanding the foregoing, Tax Distributions pursuant to this
Section 4.01(b) (other than, for the avoidance of doubt, any distributions made pursuant to Section 4.01(b)(v)), if any, shall be made to a Member only to the extent all previous Tax Distributions
to such Member pursuant to Section 4.01(b) with respect to the Taxable Year are less than the Tax Distributions such Member otherwise would have been entitled to receive with respect to such Taxable Year pursuant to this
Section 4.01(b). 
 (v) Notwithstanding the foregoing and anything to the contrary in this
Agreement, a final accounting for distributions under Section 5.1(a)(i) and (ii) of the Original LLC Agreement in respect of the taxable income of the Company for the Taxable Years (or portions thereof) of the Company that end on or prior
to the Effective Date shall be made by the Company following the closing date of the IPO and, based on such final accounting, the Company shall make a distribution to the Pre-IPO Members (or in the case of any
Pre-IPO Member that no longer exists, the successor of such Pre-IPO Member) to the extent of the excess of the amount of distributions the
Pre-IPO Members would have been entitled to receive pursuant to such subsections (without regard to the amendment and restatement of such Original LLC Agreement as of the Effective Date) over the amount of
distributions the Pre-IPO Members received prior to the Effective Date under Section 5.1(a)(i) and (ii) of the Original LLC Agreement with respect to taxable income of the Company for such portion of
such Taxable Year that will be allocated to the Pre-IPO Members (determined pursuant to Section 706 of the Code). For the avoidance of doubt, the amount of distributions to be made pursuant to this
Section 4.01(b)(v) shall be calculated pursuant to the methodology set forth in Section 5.1(a)(i) and (ii) of the Original LLC Agreement. 

  
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 ARTICLE V. 

CAPITAL ACCOUNTS; ALLOCATIONS; TAX MATTERS 

Section 5.01 Capital Accounts. 

(a) The Company shall maintain a separate Capital Account for each Member according to the rules of Treasury Regulations Section 1.704-1(b)(2)(iv). For this purpose, the Company may (in the discretion of the Manager), upon the occurrence of the events specified in Treasury Regulations
Section 1.704-1(b)(2)(iv)(f), and shall, in connection with the execution of this Agreement, the IPO Common Unit Subscription, the IPO Unit Purchase and other transactions taking place in connection
therewith, increase or decrease the Capital Accounts in accordance with the rules of such Treasury Regulations and Treasury Regulations Section 1.704-1(b)(2)(iv)(g) to reflect a revaluation of the
Company’s property; provided, that if any noncompensatory options are outstanding upon the occurrence of any revaluation of the Company’s property, the Company shall adjust the Book Values of its properties in accordance with
Treasury Regulations Sections 1.704-1(b)(2)(iv)(f)(1) and 1.704-1(b)(2)(iv)(h)(2). 

(b) For purposes of computing the amount of any item of income, gain, loss or deduction with respect to the Company to be allocated pursuant to
this Article V and to be reflected in the Capital Accounts of the Members, the determination, recognition and classification of any such item shall be the same as its determination, recognition and classification for U.S. federal income tax
purposes (including any method of depreciation, cost recovery or amortization used for this purpose); provided, however, that: 

(i) the computation of all items of income, gain, loss and deduction shall include those items described in Code
Section 705(a)(l)(B) or Code Section 705(a)(2)(B) and Treasury Regulations Section 1.704-1(b)(2)(iv)(i), without regard to the fact that such items are not includable in gross income or are not
deductible for U.S. federal income tax purposes. 
 (ii) if the Book Value of any property of the Company is adjusted
pursuant to Treasury Regulations Section 1.704-1(b)(2)(iv)(e) or (f), the amount of such adjustment shall be taken into account as gain or loss from the disposition of such property; 

(iii) items of income, gain, loss or deduction attributable to the disposition of property of the Company having a Book Value
that differs from its adjusted basis for tax purposes shall be computed by reference to the Book Value of such property; 

(iv) items of depreciation, amortization and other cost recovery deductions with respect to property of the Company having a
Book Value that differs from its adjusted basis for tax purposes shall be computed by reference to the property’s Book Value in accordance with Treasury Regulations Section 1.704-1(b)(2)(iv)(g); and

 (v) to the extent an adjustment to the adjusted tax basis of any asset of the Company pursuant to Code Sections 732(d),
734(b) or 743(b) is required, pursuant to Treasury Regulations Section 1.704-1(b)(2)(iv)(m), to be taken into account in determining Capital Accounts, the amount of such adjustment to the Capital Accounts
shall be treated as an item of gain (if the adjustment increases the basis of the asset) or loss (if the adjustment decreases such basis). 

  
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 Section 5.02 Allocations. Except as otherwise provided in
Section 5.03 and Section 5.04, Net Profits and Net Losses for any Taxable Year or Fiscal Period shall be allocated among the Capital Accounts of the Members pro rata in accordance with their
respective Percentage Interests. 
 Section 5.03 Regulatory Allocations. 

(a) Losses attributable to partner nonrecourse debt (as defined in Treasury Regulations
Section 1.704-2(b)(4)) shall be allocated in the manner required by Treasury Regulations Section 1.704-2(i). Except as otherwise provided for in
Section 5.03(b), if there is a net decrease during a Taxable Year in partner nonrecourse debt minimum gain (as defined in Treasury Regulations Section 1.704-2(i)(3)), Profits for such Taxable Year
(and, if necessary, for subsequent Taxable Years) shall be allocated to the Members in the amounts and of such character as determined according to Treasury Regulations Section 1.704-2(i)(4). 

(b) Nonrecourse deductions (as determined according to Treasury Regulations Section 1.704-2(b)(1))
for any Taxable Year shall be allocated pro rata among the Members in accordance with their Percentage Interests. If there is a net decrease in the Minimum Gain during any Taxable Year, each Member shall be allocated Profits for such Taxable Year
(and, if necessary, for subsequent Taxable Years) in the amounts and of such character as determined according to Treasury Regulations Section 1.704-2(f). This Section 5.03(b) is
intended to be a minimum gain chargeback provision that complies with the requirements of Treasury Regulations Section 1.704-2(f), and shall be interpreted in a manner consistent therewith. 

(c) If any Member that unexpectedly receives an adjustment, allocation or Distribution described in Treasury Regulations Sections 1.704-1(b)(2)(ii)(d)(4), (5) and (6) has an Adjusted Capital Account Deficit as of the end of any Taxable Year, after all other allocations pursuant to Sections 5.02, 5.03, 5.04 and
5.05 have been tentatively made as if this Section 5.03(c) were not in this Agreement, then Profits for such Taxable Year shall be allocated to such Member in proportion to, and to the extent of, such Adjusted Capital Account Deficit.
This Section 5.03(c) is intended to be a qualified income offset provision as described in Treasury Regulations Section 1.704-1(b)(2)(ii)(d) and shall be interpreted in a manner
consistent therewith. 
 (d) If the allocation of Net Losses (or items of Losses) to a Member as provided in
Section 5.02 would create or increase an Adjusted Capital Account Deficit, there shall be allocated to such Member only that amount of Losses as will not create or increase an Adjusted Capital Account Deficit. The Net
Losses that would, absent the application of the preceding sentence, otherwise be allocated to such Member shall be allocated to the other Members in accordance with their relative Percentage Interests, subject to this
Section 5.03(d). 
 (e) Profits and Losses described in Section 5.01(b)(v) shall be
allocated in a manner consistent with the manner that the adjustments to the Capital Accounts are required to be made pursuant to Treasury Regulations Section 1.704-1(b)(2)(iv)(j) and (m). 

  
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 (f) The allocations set forth in Section 5.03(a) through and
including Section 5.03(e) (the “Regulatory Allocations”) are intended to comply with certain requirements of Sections 1.704-1(b) and 1.704-2 of the Treasury Regulations. The Regulatory Allocations may not be consistent with the manner in which the Members intend to allocate Net Profit and Net Loss of the Company or make Distributions.
Accordingly, notwithstanding the other provisions of this Article V, but subject to the Regulatory Allocations, income, gain, deduction and loss with respect to the Company shall be reallocated among the Members so as to eliminate the effect
of the Regulatory Allocations and thereby cause the respective Capital Accounts of the Members to be in the amounts (or as close thereto as possible) they would have been if Net Profit and Net Loss (and such other items of income, gain, deduction
and loss) had been allocated without reference to the Regulatory Allocations. In general, the Members anticipate that this will be accomplished by specially allocating other Profit and Loss (and such other items of income, gain, deduction and loss)
among the Members so that the net amount of the Regulatory Allocations and such special allocations to each such Member is zero. In addition, if in any Taxable Year or Fiscal Period there is a decrease in partnership minimum gain, or in partner
nonrecourse debt minimum gain, and application of the minimum gain chargeback requirements set forth in Section 5.03(a) or Section 5.03(b) would cause a distortion in the economic arrangement among
the Members, the Manager may, if it does not expect that the Company will have sufficient other income to correct such distortion, request the Internal Revenue Service to waive either or both of such minimum gain chargeback requirements pursuant to
Treasury Regulations Section 1.704-2(f)(4). If such request is granted, this Agreement shall be applied in such instance as if it did not contain such minimum gain chargeback requirement. 

Section 5.04 Final Allocations . 

(a) Notwithstanding any contrary provision in this Agreement except Section 5.03, the Manager shall make appropriate
adjustments to allocations of Net Profits and Net Losses to (or, if necessary, allocate items of gross income, gain, loss or deduction of the Company among) the Members upon the liquidation of the Company (within the meaning of Section 1.704-1(b)(2)(ii)(g) of the Treasury Regulations), upon the transfer of substantially all the Units (whether by sale or exchange or merger), upon the sale of all or substantially all the assets of the
Company, or to the extent necessary in the connection with a distribution in respect of a shortfall pursuant to the second clause of the last sentence of Section 4.01(b)(ii) or pursuant to the last sentence of
Section 4.01(b)(iii), such that, to the maximum extent possible, the Capital Accounts of the Members are proportionate to their Percentage Interests. In each case, such adjustments or allocations shall occur, to the maximum
extent possible, in the Taxable Year of the event requiring such adjustments or allocations. 
 (b) If any holder of Common Units which are
subject to vesting conditions forfeits (or the Company has repurchased at less than fair market value) all or a portion of such holder’s unvested Common Units, the Company shall make forfeiture allocations in respect of such unvested Common
Units in the manner and to the extent required by Proposed Treasury Regulations Section 1.704-1(b)(4)(xii) (as such Proposed Treasury Regulations may be amended or modified, including upon the issuance of
temporary or final Treasury Regulations). 

  
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 Section 5.05 Tax Allocations. 

(a) The income, gains, losses, deductions and credits of the Company will be allocated, for federal, state and local income tax purposes, among
the Members in accordance with the allocation of such income, gains, losses, deductions and credits among the Members for computing their Capital Accounts; provided that if any such allocation is not permitted by the Code or other applicable
Law, the Company’s subsequent income, gains, losses, deductions and credits will be allocated among the Members so as to reflect as nearly as possible the allocation set forth herein in computing their Capital Accounts. 

(b) Items of taxable income, gain, loss and deduction of the Company with respect to any property contributed to the capital of the Company
shall be allocated among the Members in accordance with Code Section 704(c) so as to take account of any variation between the adjusted basis of such property to the Company for federal income tax purposes and its Book Value using the
traditional method set forth in Treasury Regulations Section 1.704-3(b). 
 (c) If the Book
Value of any asset of the Company is adjusted pursuant to Section 5.01(b), including adjustments to the Book Value of any asset of the Company in connection with the execution of this Agreement, subsequent allocations of
items of taxable income, gain, loss and deduction with respect to such asset shall take account of any variation between the adjusted basis of such asset for federal income tax purposes and its Book Value using the traditional method set forth in
Treasury Regulations Section 1.704-3(b). 
 (d) Allocations of tax credits, tax credit
recapture, and any items related thereto shall be allocated to the Members as determined by the Manager taking into account the principles of Treasury Regulations Section 1.704-1(b)(4)(ii). 

(e) For purposes of determining a Member’s share of the Company’s “excess nonrecourse liabilities” within the meaning of
Treasury Regulations Section 1.752-3(a)(3), each Member’s interest in income and gain shall be determined pursuant to any proper method, as reasonably determined by the Manager; provided, that
each year the Manager shall use its reasonable best efforts (using in all instances any proper method permitted under applicable Law, including without limitation the “additional method” described in Treasury Regulations Section 1.752-3(a)(3)) to allocate a sufficient amount of the excess nonrecourse liabilities to those Members who would have at the end of the applicable Taxable Year, but for such allocation, taxable income
due to the deemed distribution of money to such Member pursuant to Section 752(b) of the Code that is in excess of such Member’s adjusted tax basis in its Units. 

(f) If, as a result of an exercise of a noncompensatory option to acquire an interest in the Company, a Capital Account reallocation is
required under Treasury Regulations Section 1.704-1(b)(2)(iv)(s)(3), the Company shall make corrective allocations pursuant to Treasury Regulations
Section 1.704-1(b)(4)(x). If, pursuant to Section 5.03(f), the Manager causes a Capital Account reallocation in accordance with principles similar to those set forth in Treasury
Regulations Section 1.704-1(b)(2)(iv)(s)(3), the Manager shall make corrective allocations in accordance with principles similar to those set forth in Treasury Regulations
Section 1.704-1(b)(4)(x). 
 (g) In the event any Common Units issued pursuant to
Section 3.10(c) are subsequently forfeited, the Company may make forfeiture allocations with respect to such Common Units in the Taxable Year of such forfeiture in accordance with the principles of proposed Treasury
Regulations Section 1.704-1(b)(4)(xii)(c), taking into account any amendments thereto and any temporary or final Treasury Regulations issued pursuant thereto. 

  
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 (h) Allocations pursuant to this Section 5.05 are solely for
purposes of federal, state and local income taxes and shall not affect, or in any way be taken into account in computing, any Member’s Capital Account or share of Profits, Losses, Distributions or other items of the Company pursuant to any
provision of this Agreement. 
 Section 5.06 Indemnification and Reimbursement for Payments on Behalf of a
Member. If the Company or any other Person in which the Company holds an interest is obligated to pay any amount to a Governmental Entity (or otherwise makes a payment to a Governmental Entity) that is specifically attributable to a Member or a
Member’s status as such (including federal income taxes, additions to tax, interest and penalties as a result of obligations of the Company pursuant to the Revised Partnership Audit Provisions, federal withholding taxes, state personal property
taxes and state unincorporated business taxes, but excluding payments such as payroll taxes, withholding taxes, benefits or professional association fees and the like required to be made or made voluntarily by the Company on behalf of any Member
based upon such Member’s status as an employee of the Company), then such Member shall indemnify the Company in full for the entire amount paid (including interest, penalties and related expenses). The Manager may offset Distributions to which
a Member is otherwise entitled under this Agreement against such Member’s obligation to indemnify the Company under this Section 5.06. In addition, notwithstanding anything to the contrary, each Member agrees that any
Cash Settlement such Member is entitled to receive pursuant to Article XI may be offset by an amount equal to such Member’s obligation to indemnify the Company under this Section 5.06 and that such Member shall
be treated as receiving the full amount of such Cash Settlement and paying to the Company an amount equal to such obligation. A Member’s obligation to make payments to the Company under this Section 5.06 shall survive
the transfer or termination of any Member’s interest in any Units of the Company, the termination of this Agreement and the dissolution, liquidation, winding up and termination of the Company. In the event that the Company has been terminated
prior to the date such payment is due, such Member shall make such payment to the Manager (or its designee), which shall distribute such funds in accordance with this Agreement. The Company may pursue and enforce all rights and remedies it may have
against each Member under this Section 5.06, including instituting a lawsuit to collect such contribution with interest calculated at a rate per annum equal to the sum of the Base Rate plus 300 basis points (but not in
excess of the highest rate per annum permitted by Law). Each Member hereby agrees to furnish to the Company such information and forms as required or reasonably requested by the Company in order to comply with any Laws and regulations governing
withholding of tax or in order to claim any reduced rate of, or exemption from, withholding to which the Member is legally entitled. The Company may withhold any amount that it reasonably determines is required to be withheld from any amount
otherwise payable to any Member hereunder, and any such withheld amount shall be deemed to have been paid to such Member for all purposes of this Agreement, unless otherwise reimbursed by such Member under this
Section 5.06; provided, that, the Company shall use commercially reasonable efforts, prior to withholding any such amount from any Mainsail Related Parties or Just Rocks Related Parties, to notify the applicable Member of
the intended withholding and to provide such Member with a reasonable opportunity to mitigate or eliminate such withholding. For the avoidance of doubt, any income taxes, penalties, additions to tax and interest payable by the Company or any
fiscally transparent entity in which the Company owns an interest that are attributable to income or gain that is (or 

  
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otherwise would be) passed through to the Members under applicable Law shall be treated as specifically attributable to the Members and shall be allocated among the Members such that the burden
of (or any diminution in distributable proceeds resulting from) any such amounts is borne by those Members to whom such amounts are specifically attributable, in each case as reasonably determined by the Manager. 

ARTICLE VI. 
 MANAGEMENT 

Section 6.01 Authority of Manager; Officer Delegation. 

(a) Except for situations in which the approval of any Member(s) is specifically required by this Agreement, (i) all management powers
over the business and affairs of the Company shall be exclusively vested in the Corporation, as the sole managing member of the Company (the Corporation, in such capacity, the “Manager”), (ii) the Manager shall conduct,
direct and exercise full control over all activities of the Company and (iii) no other Member shall have any right, authority or power to vote, consent or approve any matter, whether under the Delaware Act, this Agreement or otherwise. The
Manager shall be the “manager” of the Company for the purposes of the Delaware Act. Except as otherwise expressly provided for herein and subject to the other provisions of this Agreement, the Members hereby consent to the exercise by the
Manager of all such powers and rights conferred on the Members by the Delaware Act with respect to the management and control of the Company. Any vacancies in the position of Manager shall be filled in accordance with
Section 6.04. 
 (b) Without limiting the authority of the Manager to act on behalf of the Company, the day-to-day business and operations of the Company shall be overseen and implemented by officers of the Company (each, an “Officer” and collectively,
the “Officers”), subject to the limitations imposed by the Manager. An Officer may, but need not, be a Member. Each Officer shall be appointed by the Manager and shall hold office until his or her successor shall be duly
designated and shall qualify or until his or her death or until he or she shall resign or shall have been removed in the manner hereinafter provided. Any one Person may hold more than one office. Subject to the other provisions of this Agreement
(including in Section 6.07 below), the salaries or other compensation, if any, of the Officers of the Company shall be fixed from time to time by the Manager. The authority and responsibility of the Officers shall be
limited to such duties as the Manager may, from time to time, delegate to them. Unless the Manager decides otherwise, if the title is one commonly used for officers of a business corporation formed under the General Corporation Law of the State of
Delaware, the assignment of such title shall constitute the delegation to such person of the authorities and duties that are normally associated with that office. All Officers shall be, and shall be deemed to be, officers and employees of the
Company. An Officer may also perform one or more roles as an officer of the Manager. Any Officer may be removed at any time, with or without cause, by the Manager. 

(c) Subject to the other provisions of this Agreement, the Manager shall have the power and authority to effectuate the sale, lease, transfer,
exchange or other disposition of any, all or substantially all of the assets of the Company (including the exercise or grant of any conversion, option, privilege or subscription right or any other right available in connection with any assets at any
time held by the Company) or the merger, consolidation, conversion, division, reorganization or other combination of the Company with or into another entity, for the avoidance of doubt, without the prior consent of any Member or any other Person
being required. 

  
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 Section 6.02 Actions of the Manager. The Manager may act
through any Officer or through any other Person or Persons to whom authority and duties have been delegated pursuant to Section 6.07. 

Section 6.03 Resignation; No Removal. The Manager may resign at any time by giving written notice to the
Members; provided, however, that any such resignation shall be subject to the appointment of a new Manager in accordance with Section 6.04. Unless otherwise specified in the notice, the resignation shall take
effect upon receipt thereof by the Members (subject to the appointment of a new Manager in accordance with Section 6.04), and the acceptance of the resignation shall not be necessary to make it effective. For the avoidance
of doubt, the Members have no right under this Agreement to remove or replace the Manager. Notwithstanding anything to the contrary herein, no replacement of the Corporation as the Manager shall be effective unless proper provision is made, in
compliance with this Agreement, so that the obligations of the Corporation, its successor or assign (if applicable) and any new Manager and the rights of all Members under this Agreement and applicable Law remain in full force and effect. No
appointment of a Person other than the Corporation (or its successor or assign, as applicable) as the Manager shall be effective unless the Corporation (or its successor or assign, as applicable) and the new Manager (as applicable) provide all other
Members with contractual rights, directly enforceable by such other Members against the Corporation (or its successor, as applicable) and the new Manager (as applicable), to cause (a) the Corporation to comply with all of the Corporation’s
obligations under this Agreement (in its capacity as a Member) and (b) the new Manager to comply with all of the Manager’s obligations under this Agreement. 

Section 6.04 Vacancies. Vacancies in the position of Manager occurring for any reason shall be filled by the
Corporation (or, if the Corporation has ceased to exist without any successor or assign, then by the holders of a majority in interest of the voting capital stock of the Corporation immediately prior to such cessation). For the avoidance of doubt,
the Members (other than the Corporation) have no right under this Agreement to fill any vacancy in the position of Manager. 

Section 6.05 Transactions Between the Company and the Manager. The Manager may cause the Company to contract
and deal with the Manager, or any Affiliate of the Manager, provided, that such contracts and dealings (other than contracts and dealings between the Company and its Subsidiaries) are (i) on terms comparable to and competitive with those
available to the Company from others dealing at arm’s length, (ii) approved by the disinterested Members (other than the Manager) holding a majority of the Percentage Interests of the disinterested Members (other than the Manager) or
(iii) approved by the Disinterested Majority, and in each case, otherwise are permitted by the Credit Agreements; provided that the foregoing shall in no way limit the Manager’s rights under Sections 3.02, 3.04,
3.05 or 3.10. The Members hereby approve each of the contracts or agreements between or among the Manager or its Affiliates (other than the Company and its Subsidiaries), on the one hand, and the Company or its Affiliates (other than
the Manager and any of the Company’s Subsidiaries), on the other hand, entered into on or prior to the date of this Agreement in accordance with the Original LLC Agreement or that the board of managers of the Company or the Corporate Board has
approved in connection with the Recapitalization, the Reorganization or the IPO as of the date of this Agreement, including, but not limited to, the IPO Common Unit Subscription Agreement and the Tax Receivable Agreement. 

  
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 Section 6.06 Reimbursement for Expenses. The Manager shall
not be compensated for its services as Manager of the Company except as expressly provided in this Agreement. The Members acknowledge and agree that, upon consummation of the IPO, the Manager’s Class A Common Stock will be publicly traded
and, therefore, the Manager will have access to the public capital markets and that such status and the services performed by the Manager will inure to the benefit of the Company and all Members; therefore, the Manager shall be reimbursed by the
Company for any reasonable out-of-pocket expenses incurred on behalf of the Company, including, without limitation, all fees, expenses and costs associated with the IPO
and all fees, expenses and costs of being a public company (including, without limitation, public reporting obligations, proxy statements, stockholder meetings, Stock Exchange fees, transfer agent fees, legal fees, SEC and FINRA filing fees and
offering expenses) and maintaining its corporate existence. In the event that shares of Class A Common Stock are sold to underwriters in the IPO (or in any Qualifying Offering) at a price per share that is lower than the price per share for
which such shares of Class A Common Stock are sold to the public in the IPO (or in such Qualifying Offering), after taking into account underwriters’ discounts or commissions and brokers’ fees or commissions (such difference, the
“Discount”) (i) the Manager shall be deemed to have contributed to the Company in exchange for newly issued Common Units the full amount for which such shares of Class A Common Stock were sold to the public and
(ii) the Company shall be deemed to have paid the Discount as an expense. To the extent practicable, expenses incurred by the Manager on behalf of or for the benefit of the Company shall be billed directly to and paid by the Company and, if and
to the extent any reimbursements to the Manager or any of its Affiliates by the Company pursuant to this Section 6.06 constitute gross income to such Person (as opposed to the repayment of advances made by such Person on
behalf of the Company), such amounts shall be treated as “guaranteed payments” within the meaning of Code Section 707(c) (unless otherwise required by the Code and Treasury Regulations) and shall not be treated as distributions for
purposes of computing the Members’ Capital Accounts. Notwithstanding the foregoing, the Company shall not bear any obligations with respect to income tax of the Manager or any payments made pursuant to the Tax Receivable Agreement other than in
a manner that is expressly contemplated under this Agreement. 
 Section 6.07 Delegation of Authority. The
Manager (a) may, from time to time, delegate to one or more Persons such authority and duties as the Manager may deem advisable, and (b) may assign titles (including, without limitation, chief executive officer, president, chief financial
officer, chief operating officer, general counsel, senior vice president, vice president, secretary, assistant secretary, treasurer or assistant treasurer) and delegate certain authority and duties to such Persons, which may be amended, restated or
otherwise modified from time to time. Any number of titles may be held by the same individual. The salaries or other compensation, if any, of such agents of the Company shall be fixed from time to time by the Manager, subject to the other provisions
in this Agreement. 

  
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 Section 6.08 Limitation of Liability of Manager. 

(a) Except as otherwise provided herein or in an agreement entered into by such Person and the Company, neither the Manager nor any of the
Manager’s Affiliates or Manager’s officers, directors, employees or other agents (collectively “Manager’s Representatives”) shall be liable to the Company, to any Member that is not the Manager or to any other
Person (other than the Manager) bound by this Agreement for any act or omission performed or omitted by the Manager or such Manager Representative in its capacity as the sole managing member of the Company or as an Affiliate, officer, director,
employee or agent of the Manager, as applicable, pursuant to authority granted to the Manager by this Agreement; provided, however, that, except as otherwise provided herein, such limitation of liability shall not apply to the extent the act
or omission was attributable to the Manager’s or a Manager’s Representative’s intentional misconduct or knowing violation of Law or for any present or future material breaches of any representations, warranties or covenants by the
Manager or any Manager’s Representative contained herein or in the Other Agreements with the Company; provided, further, that the foregoing shall not limit the exculpation of the Manager and the Manager’s Representatives in
respect of the performance of its or their duties to the fullest extent permitted by Law. The Manager may exercise any of the powers granted to it by this Agreement and perform any of the duties imposed upon it hereunder either directly or by or
through its agents, and shall not be responsible for any misconduct or negligence on the part of any such agent (so long as such agent was selected in good faith and with reasonable care). The Manager and each Manager Representative shall be
entitled to rely upon the advice of legal counsel, independent public accountants and other experts, including financial advisors, as to matters the Manager or such Manager Representative reasonably believes are within such other Person’s
professional or expert competence and any act of or failure to act by the Manager or such Manager Representative in good faith reliance on such advice shall in no event subject the Manager or any Manager Representative to liability to the Company or
any Member that is not the Manager or any other Person (other than the Manager) bound by this Agreement. 
 (b) To the fullest extent
permitted by applicable Law, whenever this Agreement or any other agreement contemplated herein provides that the Manager shall act in its reasonable discretion or in a manner which is, or provide terms which are, “fair and reasonable” to
the Company or any Member that is not the Manager, the Manager shall determine such appropriate action or provide such terms considering, in each case, the relative interests of each party to such agreement, transaction or situation and the benefits
and burdens relating to such interests, any customary or accepted industry practices, and any applicable United States generally accepted accounting practices or principles, notwithstanding any other provision of this Agreement or in any agreement
contemplated herein or applicable provisions of Law or equity or otherwise. 
 (c) In connection with the performance of its duties as the
Manager of the Company, except as otherwise set forth herein, the Manager acknowledges that, solely in its capacity as Manager, it will owe to the Company and the Members the same fiduciary duties as it would owe to a Delaware corporation and its
stockholders if it were a member of the board of directors of such a corporation and the Members were stockholders of such corporation. 

Section 6.09 Investment Company Act. The Manager shall use its best efforts to ensure that the Company shall
not be subject to registration as an investment company pursuant to the Investment Company Act. 

  
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 ARTICLE VII. 

RIGHTS AND OBLIGATIONS OF MEMBERS AND MANAGER 

Section 7.01 Limitation of Liability and Duties of Members. 

(a) Notwithstanding anything contained herein to the contrary, to the fullest extent permitted by applicable Law, the failure of the Company to
observe any formalities or requirements relating to the exercise of its powers or management of its business and affairs under this Agreement or the Delaware Act shall not be grounds for imposing personal liability on the Members or the Manager for
liabilities of the Company. 
 (b) In accordance with the Delaware Act and the laws of the State of Delaware, a Member may, under certain
circumstances, be required to return amounts previously distributed to such Member. It is the intent of the Members that no Distribution to any Member pursuant to Articles IV or XIV shall be deemed a return of money or other property
paid or distributed in violation of the Delaware Act. The payment of any such money or Distribution of any such property to a Member shall be deemed to be a compromise within the meaning of
Section 18-502(b) of the Delaware Act, and, to the fullest extent permitted by Law, any Member receiving any such money or property shall not be required to return any such money or property to the
Company or any other Person, unless such distribution was made by the Company to its Members in clerical error. However, if any court of competent jurisdiction holds that, notwithstanding the provisions of this Agreement, any Member is obligated to
make any such payment, such obligation shall be the obligation of such Member and not of any other Member. 
 (c) To the fullest extent
permitted by applicable Law, including Section 18-1101(c) of the Delaware Act, and notwithstanding any other provision of this Agreement (but subject, and without limitation, to
Section 6.08 with respect to the Manager) or in any agreement contemplated herein or applicable provisions of Law or equity or otherwise, the parties hereto hereby agree that to the extent that any Member in its capacity as
such (other than, for the avoidance of doubt, the Manager in its capacity as such) (or any Member’s Affiliate or any manager, managing member, general partner, director, officer, employee, agent, fiduciary or trustee of any Member or of any
Affiliate of a Member) has duties (including fiduciary duties) to the Company, to the Manager, to another Member, to any Person who acquires an interest in a Unit or to any other Person bound by this Agreement, all such duties (including fiduciary
duties) are hereby eliminated, to the fullest extent permitted by Law, and replaced with the duties or standards expressly set forth herein, if any; provided, however, that the foregoing shall not eliminate the implied contractual covenant of good
faith and fair dealing. The elimination of duties (including fiduciary duties) to the Company, the Manager, each of the Members, each other Person who acquires an interest in a Unit and each other Person bound by this Agreement and replacement
thereof with the duties or standards expressly set forth herein, if any, are approved by the Company, the Manager, each of the Members, each other Person who acquires an interest in a Unit and each other Person bound by this Agreement. 

Section 7.02 Lack of Authority. No Member, other than the Manager or a duly appointed Officer or other agent
of the Company, in each case in its capacity as such, has the authority or power to act for or on behalf of the Company, to do any act that would be binding on the Company or to make any expenditure on behalf of the Company. The Members hereby
consent to the exercise by the Manager of the powers conferred on them by Law and this Agreement. 

  
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 Section 7.03 No Right of Partition. No Member, other than
the Manager, shall have the right to seek or obtain partition by court decree or operation of Law of any property of the Company, or the right to own or use particular or individual assets of the Company. 

Section 7.04 Indemnification. 

(a) Subject to Section 5.06, the Company hereby agrees to indemnify and hold harmless any Person (each an
“Indemnified Person”) to the fullest extent permitted under applicable Law, as the same now exists or may hereafter be amended, substituted or replaced (but, to the fullest extent permitted by applicable Law, in the case of
any such amendment, substitution or replacement only to the extent that such amendment, substitution or replacement permits the Company to provide broader indemnification rights than the Company is providing immediately prior to such amendment,
substitution or replacement), against all expenses, liabilities and losses (including attorneys’ fees, judgments, fines, excise taxes or penalties) reasonably incurred or suffered by such Person (or one or more of such Person’s Affiliates)
by reason of the fact that such Person is or was a Member or an Affiliate thereof (other than solely as a result of an ownership interest in the Corporation) or is or was serving as the Manager or a director, officer, employee or other agent of the
Manager, the Partnership Representative, or a director, manager, Officer, employee or other agent of the Company or is or was serving at the request of the Company as a manager, officer, director, principal, member, employee or agent of another
Person; provided, however, that no Indemnified Person shall be indemnified for any expenses, liabilities and losses suffered that are attributable to such Indemnified Person’s or its Affiliates’ fraud, willful misconduct or knowing
violation of Law or for any present or future breaches of any representations, warranties or covenants by such Indemnified Person or its Affiliates contained herein or in Other Agreements with the Company; provided, that the foregoing shall
not limit the Company’s ability to provide indemnification to the Manager and its officers in respect of the performance of its or their duties to the fullest extent permitted by Law. Reasonable expenses, including out-of-pocket attorneys’ fees, incurred by any such Indemnified Person in defending a proceeding shall be paid by the Company in advance of the final disposition of such
proceeding, including any appeal therefrom, upon receipt of an undertaking by or on behalf of such Indemnified Person to repay such amount if it shall ultimately be determined that such Indemnified Person is not entitled to be indemnified by the
Company. 
 (b) The right to indemnification and the advancement of expenses conferred in this Section 7.04 shall
not be exclusive of any other right which any Person may have or hereafter acquire under any statute, agreement, bylaw, action by the Manager or otherwise. 

(c) The Company shall maintain directors’ and officers’ liability insurance, or substantially equivalent insurance, at its expense,
to protect any Indemnified Person against any expense, liability or loss described in Section 7.04(a) whether or not the Company would have the power to indemnify such Indemnified Person against such expense, liability or
loss under the provisions of this Section 7.04. The Company shall use its commercially reasonable efforts to purchase and maintain property, casualty and liability insurance in types and at levels customary for companies of
similar size engaged in similar lines of business, as determined in good faith by the Manager, and the Company shall use its commercially reasonable efforts to purchase directors’ and officers’ liability insurance (including employment
practices coverage) with a carrier and in an amount determined necessary or desirable as determined in good faith by the Manager. 

  
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 (d) The indemnification and advancement of expenses provided for in this
Section 7.04 shall be provided out of and to the extent of Company assets only. No Member (unless such Member otherwise agrees in writing or is found in a non-appealable decision by a
Governmental Entity of competent jurisdiction to have personal liability on account thereof) shall have personal liability on account thereof or shall be required to make additional Capital Contributions to help satisfy such indemnity of the
Company. The Company (i) shall be the primary indemnitor of first resort for such Indemnified Person pursuant to this Section 7.04 and (ii) shall be fully responsible for the advancement of all expenses and the
payment of all damages or liabilities with respect to such Indemnified Person which are addressed by this Section 7.04. 

(e) If this Section 7.04 or any portion hereof shall be invalidated on any ground by any Governmental Entity of
competent jurisdiction, then the Company shall nevertheless indemnify and hold harmless each Indemnified Person pursuant to this Section 7.04 to the fullest extent permitted by any applicable portion of this
Section 7.04 that shall not have been invalidated and to the fullest extent permitted by applicable Law. 
 (f)
Except as otherwise provided herein or in an agreement entered into by such Person and the Company, no Indemnified Person shall be liable to the Company, to any Member that is not the Manager or to any other Person (other than the Manager) bound by
this Agreement for any act or omission performed or omitted by such Indemnified Person; provided, however, that, except as otherwise provided herein, such limitation of liability shall not apply to the extent the act or omission was
attributable to such Indemnified Person’s intentional misconduct or knowing violation of Law. Notwithstanding the foregoing, this Section 7.04(f) shall not apply to the Manager or any Manager’s Representative,
whose exculpation rights shall be governed by Section 6.08. 
 ARTICLE VIII. 

BOOKS, RECORDS, ACCOUNTING AND REPORTS, AFFIRMATIVE COVENANTS 

Section 8.01 Records and Accounting. The Company shall keep, or cause to be kept, appropriate books and
records with respect to the Company’s business, including all books and records necessary to provide any information, lists and copies of documents required pursuant to applicable Laws. All matters concerning (a) the determination of the
relative amount of allocations and Distributions among the Members pursuant to Articles IV and V and (b) accounting procedures and determinations, and other determinations not specifically and expressly provided for by the terms
of this Agreement, shall be determined by the Manager in a fair and reasonable manner, whose determination shall be final and conclusive as to all of the Members absent manifest clerical error or common law fraud. 

Section 8.02 Fiscal Year. The Fiscal Year of the Company shall end on December 31 of each year or such
other date as may be established by the Manager. 

  
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 Section 8.03 Inspection Rights. The Company shall permit
each Member and each of its designated representatives, at such Member’s sole cost and expense, to examine the books and records of the Company or any of its Subsidiaries at the principal office of the Company or such other location as the
Manager shall reasonably approve during normal business hours and upon reasonable notice for any purpose reasonably related to such Member’s interest as a member of the Company; provided, that Manager has a right to keep confidential
from the Members certain information in accordance with Section 18-305 of the Delaware Act. 

ARTICLE IX. 
 TAX MATTERS 

Section 9.01 Preparation of Tax Returns. The Manager shall arrange for the preparation and timely filing of
all tax returns required to be filed by the Company. The Manager shall use reasonable efforts (taking into account applicable extensions of time to file tax returns) to furnish, within one hundred and fifty (150) days of the close of each Taxable
Year, to each Member a completed IRS Schedule K-1 (and any comparable state and local income tax form) and such other information as is reasonably requested by such Member relating to the Company that is necessary for such Member to comply with its
tax reporting obligations. Subject to the terms and conditions of this Agreement and except as otherwise provided in this Agreement, in its capacity as Partnership Representative, the Corporation shall have the authority to prepare the tax returns
of the Company using such permissible methods and elections as it determines in its reasonable discretion, including without limitation the use of any permissible method under Section 706 of the Code for purposes of determining the varying
Units of its Members. 
 Section 9.02 Tax Elections. The Taxable Year shall be the Fiscal Year set forth in
Section 8.02, unless otherwise required by Section 706 of the Code. The Manager shall cause the Company and each of its Subsidiaries that is treated as a partnership for U.S. federal income tax purposes to have in
effect an election pursuant to Section 754 of the Code (or any similar provisions of applicable state, local or foreign tax Law) for the Taxable Year that includes the Effective Date and each subsequent Taxable Year, and the Manager shall take
commercially reasonable efforts to cause each Person in which the Company owns a direct or indirect equity interest (other than a Subsidiary) that is so treated as a partnership to have in effect any such election for such Taxable Years. Each Member
will upon request supply any information reasonably necessary to give proper effect to any such elections. 

Section 9.03 Tax Controversies. The Manager shall cause the Company to take all necessary actions required by
Law to designate the Corporation as the “tax matters partner” of the Company within the meaning of Section 6231 of the Code (as in effect prior to repeal of such section pursuant to the Revised Partnership Audit Provisions) with
respect any Taxable Year beginning on or before December 31, 2017. The Manager shall further cause the Company to take all necessary actions required by Law to designate the Corporation as the “partnership representative” of the
Company as provided in Section 6223(a) of the Code with respect to any Taxable Year of the Company beginning after December 31, 2017, and the Corporation is hereby authorized to designate an individual to be the sole individual through
which such entity “partnership representative” will act (in such capacities, including in similar capacities under analogous provisions of state or local Law, collectively, the “Partnership Representative”). The
Company and the Members shall cooperate fully with each other and shall use reasonable best 

  
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efforts to cause the Corporation (or its designated individual, as applicable) to become the Partnership Representative with respect to any taxable period of the Company with respect to which the
statute of limitations has not yet expired (and causing any tax matters partner, partnership representative or designated individual designated prior to the Effective Time to resign, be revoked or replaced, as applicable), including (as applicable)
by filing certifications pursuant to Treasury Regulations Section 301.6231(a)(7)-1(d) and completing IRS Form 8979 or any other form or certificate required pursuant to Treasury Regulations Section 301.6223-1(e)(1). The Partnership Representative shall have the right and obligation to take all actions authorized and required, by the Code and Treasury Regulations (and analogous provisions of state
or local Law) for the Partnership Representative and is authorized and required to represent the Company (at the Company’s expense) in connection with all examinations of the Company’s affairs by tax authorities, including any resulting
administrative and judicial proceedings, and to expend Company funds for professional services reasonably incurred in connection therewith. Each Member agrees to cooperate with the Company and the Partnership Representative and to do or refrain from
doing any or all things reasonably requested by the Company or the Partnership Representative with respect to the conduct of such proceedings. Without limiting the generality of the foregoing, with respect to any audit or other proceeding, the
Partnership Representative shall be entitled to cause the Company (and any of its Subsidiaries) to make any available elections pursuant to Section 6226 of the Code (and similar provisions of state, local and other Law), and the Members shall
cooperate to the extent reasonably requested by the Company in connection therewith. The Company shall reimburse the Partnership Representative for all reasonable
out-of-pocket expenses incurred by the Partnership Representative, including reasonable fees of any professional attorneys, in carrying out its duties as the Partnership
Representative. The provisions of this Section 9.03 shall survive the transfer or termination of any Member’s interest in any Units of the Company, the termination of this Agreement and the termination of the Company,
and shall remain binding on each Member for the period of time necessary to resolve all tax matters relating to the Company, and shall be subject to the provisions of the Tax Receivable Agreement, as applicable. The Partnership Representative will,
within ten (10) days of the receipt of any notice from the Internal Revenue Service or any other taxing authority of any audit, investigation or other proceeding relating to any flow-through income tax matters, mail a copy of such notice to
each Member. The Partnership Representative shall not, with respect to tax matters related to a taxable period prior to the date of this Agreement, (i) enter into a settlement agreement with the Internal Revenue Service or any other taxing
authority that purports to bind (or has the effect of binding) the Mainsail Related Parties and the Just Rock Related Parties (the “Specified Members”) (or their equityholders or successors or assigns) without the
written consent of such Specified Members (not to be unreasonably withheld, conditioned or delayed), or (ii) enter into an agreement extending the period of limitations for assessing an income tax deficiency with respect to any Company
flow-through income tax matters without the approval of the Specified Members for so long as any Specified Member or its equityholders or successors or assigns could be affected by such action (such consent not to be unreasonably withheld,
conditioned or delayed). The Partnership Representative shall: (i) keep the Specified Members reasonably informed of the material developments and status of any such audit or proceeding; (ii) permit the Specified Members (or their
designees) to participate (including using separate counsel) in, in each case at the Specified Members’ sole cost and expense, but not control, any such audit or proceeding; and (iii) promptly notify the Specified Members of receipt of a
notice of a final partnership adjustment (or equivalent under applicable laws) or a final decision of a court or IRS Appeals panel (or equivalent body 

  
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under applicable laws) with respect to any such audit or proceeding. The Partnership Representative and the Company shall use reasonable efforts to promptly provide the Specified Members with
copies of all material correspondence between the Partnership Representative or the Company (as applicable) and any governmental authority in connection with such audit or proceeding, and to give the Specified Members a reasonable opportunity to
review and comment on any material correspondence, submission (including settlement or compromise offers) or filing in connection with any such audit or proceeding. 

ARTICLE X. 
 RESTRICTIONS ON
TRANSFER OF UNITS; CERTAIN TRANSACTIONS 
 Section 10.01 Transfers by Members. No holder of Units shall
Transfer any interest in any Units, except Transfers (a) pursuant to and in accordance with Sections 10.02 and 10.09 or (b) approved in advance and in writing by the Manager, in the case of Transfers by any Member other than
the Manager, or (c) in the case of Transfers by the Manager, to any Person who succeeds to the Manager in accordance with Section 6.04. Notwithstanding the foregoing, “Transfer” shall not include (i) an
event that terminates the existence of a Member for income tax purposes (including, without limitation, a change in entity classification of a Member under Treasury Regulations Section 301.7701-3, a sale
of assets by, or liquidation of, a Member pursuant to an election under Code Sections 336 or 338, or merger, severance, or allocation within a trust or among sub-trusts of a trust that is a Member), but that
does not terminate the existence of such Member under applicable state Law (or, in the case of a trust that is a Member, does not terminate the trusteeship of the fiduciaries under such trust with respect to all the Units of such trust that is a
Member) or (ii) any indirect Transfer of Units held by the Manager by virtue of any Transfer of Equity Securities in the Corporation. 

Section 10.02 Permitted Transfers. The restrictions contained in Section 10.01
shall not apply to any of the following (each, a “Permitted Transfer” and each transferee, a “Permitted Transferee”): (i)(A) a Transfer pursuant to a Redemption or Direct Exchange in accordance with
Article XI hereof or that are necessary to comply with Sections 3.04 or 3.05 as determined by the Manager, or (B) a Transfer by a Member to the Corporation or any of its Subsidiaries, or (ii) a Transfer to an Affiliate of such
Member; provided, however, that (x) the restrictions contained in this Agreement will continue to apply to Units after any Permitted Transfer of such Units, and (y) in the case of the foregoing clause (ii), the Permitted Transferees
of the Units so Transferred shall at the time of the Permitted Transfer agree in writing to be bound by the provisions of this Agreement, and prior to such Transfer the transferor will deliver a written notice to the Company and the Members, which
notice will disclose in reasonable detail the identity of the proposed Permitted Transferee. If a Permitted Transfer pursuant to clause (ii) of the immediately preceding sentence would result in a Change of Control, such Member must provide the
Manager with written notice of such proposed Permitted Transfer at least sixty (60) calendar days prior to the consummation of such Permitted Transfer. In the case of a Permitted Transfer of any Common Units by any Member holding Class B
Common Stock to a Permitted Transferee in accordance with this Section 10.02, such Member shall also transfer a number of shares of Class B Common Stock equal to the number of Common Units that were transferred by such
Member in the transaction to such Permitted Transferee. In the case of a Permitted Transfer of any Common Units by any Member holding Class C Common Stock to a Permitted Transferee in accordance with this
Section 10.02, such Member shall also transfer a number of shares of Class C Common Stock equal to the number of Common Units that were transferred by such Member in the transaction to such Permitted Transferee. All
Permitted Transfers are subject to the additional limitations set forth in Section 10.07(b). 

  
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 Section 10.03 Restricted Units Legend. The Units have not
been registered under the Securities Act and, therefore, in addition to the other restrictions on Transfer contained in this Agreement, cannot be sold unless subsequently registered under the Securities Act or if an exemption from such registration
is then available with respect to such sale. To the extent such Units have been certificated, each certificate evidencing Units and each certificate issued in exchange for or upon the Transfer of any Units shall be stamped or otherwise imprinted
with a legend in substantially the following form: 
 “THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT
OF 1933, AS AMENDED (THE “ACT”), AND MAY NOT BE SOLD OR TRANSFERRED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT OR AN EXEMPTION FROM REGISTRATION THEREUNDER. THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE ALSO
SUBJECT TO ADDITIONAL RESTRICTIONS ON TRANSFER SPECIFIED IN THE AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT OF BRILLIANT EARTH, LLC, AS IT MAY BE AMENDED, RESTATED, AMENDED AND RESTATED, OR OTHERWISE MODIFIED FROM TIME TO TIME, AND
BRILLIANT EARTH, LLC RESERVES THE RIGHT TO REFUSE THE TRANSFER OF SUCH SECURITIES UNTIL SUCH CONDITIONS HAVE BEEN FULFILLED WITH RESPECT TO ANY TRANSFER. A COPY OF SUCH CONDITIONS SHALL BE FURNISHED BY BRILLIANT EARTH, LLC TO THE HOLDER HEREOF UPON
WRITTEN REQUEST AND WITHOUT CHARGE.” 
 The Company shall imprint such legend on certificates (if any) evidencing Units. The legend set forth above
shall be removed from the certificates (if any) evidencing any Units which cease to be Units in accordance with the definition thereof. 

Section 10.04 Transfer. Prior to Transferring any Units, the Transferring holder of Units shall cause the
prospective Permitted Transferee to be bound by this Agreement and any other agreements executed by the holders of Units and relating to such Units in the aggregate to which the Transferring Member was a party (collectively, the “Other
Agreements”) by executing and delivering to the Company counterparts of this Agreement and any applicable Other Agreements. 

Section 10.05 Assignee’s Rights. 

(a) The Transfer of a Unit in accordance with this Agreement shall be effective as of the date of such Transfer (assuming compliance with all
of the conditions to such Transfer set forth herein), and such Transfer shall be shown on the books and records of the Company. Profits, Losses and other items of the Company shall be allocated between the transferor and the transferee according to
Code Section 706, using any permissible method as determined in the reasonable discretion of the Manager. Distributions made before the effective date of such Transfer shall be paid to the transferor, and Distributions made on or after such
date shall be paid to the Assignee. 

  
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 (b) Unless and until an Assignee becomes a Member pursuant to Article XII, the
Assignee shall not be entitled to any of the rights granted to a Member hereunder or under applicable Law, other than the rights granted specifically to Assignees pursuant to this Agreement; provided, however, that, without relieving the
Transferring Member from any such limitations or obligations as more fully described in Section 10.06, such Assignee shall be bound by any limitations and obligations of a Member contained herein by which a Member would be
bound on account of the Assignee’s Units (including the obligation to make Capital Contributions on account of such Units). 

Section 10.06 Assignor’s Rights and Obligations. Any Member who shall Transfer any Unit in
a manner in accordance with this Agreement shall cease to be a Member with respect to such Units and shall no longer have any rights or privileges, or, except as set forth in this Section 10.06, duties, liabilities or
obligations, of a Member with respect to such Units (it being understood, however, that the applicable provisions of Sections 6.08 and 7.04 shall continue to inure to such Person’s benefit), except that unless and until the
Assignee (if not already a Member) is admitted as a Substituted Member in accordance with the provisions of Article XII (the “Admission Date”), (i) such Transferring Member shall retain all of the duties, liabilities
and obligations of a Member with respect to such Units, and (ii) the Manager may, in its sole discretion, reinstate all or any portion of the rights and privileges of such Member with respect to such Units for any period of time prior to the
Admission Date. Nothing contained herein shall relieve any Member who Transfers any Units in the Company from any liability of such Member to the Company with respect to such Units that may exist as of the Admission Date or that is otherwise
specified in the Delaware Act or for any liability to the Company or any other Person for any materially false statement made by such Member (in its capacity as such) or for any present or future breaches of any representations, warranties or
covenants by such Member (in its capacity as such) contained herein or in the Other Agreements with the Company. 

Section 10.07 Overriding Provisions. 

(a) Any Transfer or attempted Transfer of any Units in violation of this Agreement (including any prohibited indirect Transfers) shall be, to
the fullest extent permitted by applicable Law, null and void ab initio, and the provisions of Sections 10.05 and 10.06 shall not apply to any such Transfers. For the avoidance of doubt, any Person to whom a Transfer is made or
attempted in violation of this Agreement shall not become a Member and shall not have any other rights in or with respect to any rights of a Member of the Company with respect to the applicable Units. The approval of any Transfer in any one or more
instances shall not limit or waive the requirement for such approval in any other or future instance. The Manager shall promptly amend the Schedule of Members to reflect any Permitted Transfer pursuant to this Article X. 

(b) Notwithstanding anything contained herein to the contrary (including, for the avoidance of doubt, the provisions of
Section 10.01 and Article XI and Article XII), in no event shall any Member Transfer any Units to the extent such Transfer would: 

(i) result in the violation of the Securities Act, or any other applicable federal, state or foreign Laws; 

(ii) cause an assignment under the Investment Company Act; 

  
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 (iii) be a Transfer to a Person who is not legally competent or who has not
achieved his or her majority of age under applicable Law (excluding trusts for the benefit of minors); 
 (iv) cause the
Company to be treated as a “publicly traded partnership” or to be taxed as a corporation pursuant to Section 7704 of the Code or any successor provision thereto under the Code; or 

(v) result in the Company having more than one hundred (100) partners, within the meaning of Treasury Regulations Section 1.7704-1(h)(1) (determined pursuant to the rules of Treasury Regulations Section 1.7704-1(h)(3)). 

(c) Notwithstanding anything contained herein to the contrary, in no event shall any Member that is not a “United States person”
within the meaning of Section 7701(a)(30) of the Code Transfer any Units (including, for the avoidance of doubt, in connection with a Redemption or a Direct Exchange), unless such Member and the transferee have delivered to the Company, in
respect of the relevant Transfer (or Redemption or Direct Exchange, as applicable), written evidence that all required withholding under Section 1446(f) of the Code will have been done and duly remitted to the applicable Governmental Entity or
duly executed certifications (prepared in accordance with the applicable Treasury Regulations or other authorities) of an exemption from such withholding; provided, that the Company shall cooperate in the manner set forth in
Section 11.07(a) with any reasonable requests from such Member for certifications or other information from the Company in connection with satisfying this Section 10.07(c) prior to the relevant Transfer (or Redemption
or Direct Exchange, as applicable). 
 Section 10.08 Spousal Consent. In connection with the execution and
delivery of this Agreement, any Member who is a natural person will deliver to the Company an executed consent from such Member’s spouse (if any) in the form of Exhibit B-1 attached hereto or a
Member’s spouse confirmation of separate property in the form of Exhibit B-2 attached hereto. If, at any time subsequent to the date of this Agreement such Member becomes legally married (whether
in the first instance or to a different spouse), such Member shall cause his or her spouse to execute and deliver to the Company a consent in the form of Exhibit B-1 or Exhibit B-2 attached hereto. Such Member’s non-delivery to the Company of an executed consent in the form of Exhibit B-1 or
Exhibit B-2 at any time shall constitute such Member’s continuing representation and warranty that such Member is not legally married as of such date. 

Section 10.09 Certain Transactions with respect to the Corporation(a) . 

(a) In connection with a Change of Control Transaction, the Manager shall have the right, in its sole discretion, to require (y) each
Member (other than the Founder Members, the Corporation and its Subsidiaries) to effect a Redemption of all or a portion of such Member’s Units together with an equal number of shares of Class B Common Stock, pursuant to which such Units
and such shares of Class B Common Stock will be exchanged for shares of Class A Common Stock (or to the extent being received by or offered to other stockholders of the Corporation economically equivalent cash or securities of a successor
entity (or an offer thereof)), provided, however, that in the event of a Change of Control Transaction intended to qualify as a reorganization within the meaning of Section 368(a) of the Code or as a transfer described in Section 351(a) or
Section 721 

  
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of the Code, the Members shall not be required to exchange Units pursuant to this Section 10.09 unless, as a part of such transaction, the Members are permitted to
exchange their Units for securities in a transaction that is expected to permit such exchange without current recognition of gain or loss, for U.S. and non-U.S. tax purposes, for the direct and indirect
holders of Units (except to the extent that property other than securities is received in such exchange), based on a “should” or “will” level opinion from independent tax counsel of recognized standing and expertise, and
(z) each Founder Member to effect a Redemption of all or a portion of such Member’s Units together with an equal number of shares of Class C Common Stock, pursuant to which such Units and such shares of Class C Common Stock will
be exchanged for shares of Class D Common Stock (or to the extent being received by or offered to other stockholders of the Corporation economically equivalent cash or securities of a successor entity (or an offer thereof)) provided, however,
that in the event of a Change of Control Transaction intended to qualify as a reorganization within the meaning of Section 368(a) of the Code or as a transfer described in Section 351(a) or Section 721 of the Code, the Founder Members
shall not be required to exchange Units pursuant to this Section 10.09 unless, as a part of such transaction, the Founder Members are permitted to exchange their Units for securities in a transaction that is expected to
permit such exchange without current recognition of gain or loss, for U.S. and non-U.S. tax purposes, for the direct and indirect holders of Units (except to the extent that property other than securities is
received in such exchange), based on a “should” or “will” level opinion from independent tax counsel of recognized standing and expertise, in each case in accordance with the
Redemption provisions of Article XI, mutatis mutandis (applied for this purpose as if the Corporation had delivered an Election Notice that specified a Share Settlement with respect to such Redemption) and otherwise in accordance with
this Section 10.09(a). Any such Redemption pursuant to this Section 10.09(a) shall be effective immediately prior to the consummation of such Change of Control Transaction (and, for the avoidance
of doubt, shall be contingent upon the consummation of such Change of Control Transaction and shall not be effective if such Change of Control Transaction is not consummated) (the date of such Redemption pursuant to this
Section 10.09(a), the “Change of Control Date”). From and after the Change of Control Date, (i) the Units and any shares of Class B Common Stock or Class C Common Stock, as applicable,
subject to such Redemption shall be deemed to be transferred to the Company and the Corporation, as applicable, on the Change of Control Date and (ii) each such Member shall cease to have any rights with respect to the Units and any shares of
Class B Common Stock or Class C Common Stock, as applicable, subject to such Redemption (other than the right to receive shares of Class A Common Stock or Class D Common Stock, as applicable, (or economically equivalent cash or
Equity Securities in a successor entity) pursuant to such Redemption). In the event the Manager desires to initiate the provisions of this Section 10.09, the Manager shall provide written notice of an expected Change of
Control Transaction to all Members no later than the earlier of (x) five (5) Business Days following the execution of a definitive agreement with respect to such Change of Control Transaction and (y) ten (10) Business Days before the
proposed date upon which the contemplated Change of Control Transaction is to be effected, including in such notice such information as may reasonably describe the Change of Control Transaction, subject to applicable Law, including the date of
execution of such definitive agreement or such proposed effective date, as applicable, the amount and types of consideration to be paid for shares of Class A Common Stock in the Change of Control Transaction and any election with respect to
types of consideration that a holder of shares of Class A Common Stock, as applicable, shall be entitled to make in connection with a Change of Control Transaction (which election shall be available to each Member on the same terms as holders
of shares of Class A Common Stock). Following delivery of such notice and on or prior to the Change of Control Date, the Members shall take all actions necessary to effect such Redemption, including taking any action and delivering any document
required pursuant to this Section 10.09(a) to effect such Redemption. 

  
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 (b) In the event that a tender offer, share exchange offer, issuer bid, take-over bid,
recapitalization, or similar transaction with respect to Class A Common Stock (a “Pubco Offer”) is proposed by the Corporation or is proposed to the Corporation or its stockholders and approved by the Corporate Board or
is otherwise effected or to be effected with the consent or approval of the Corporate Board, the Manager shall provide written notice of the Pubco Offer to all Members no later than the earlier of (i) five (5) Business Days following the
execution of a definitive agreement (if applicable) with respect to, or the commencement of (if applicable), such Pubco Offer and (ii) ten (10) Business Days before the proposed date upon which the Pubco Offer is to be effected, including in
such notice such information as may reasonably describe the Pubco Offer, subject to applicable Law, including the date of execution of such definitive agreement (if applicable) or of such commencement (if applicable), the material terms of such
Pubco Offer, including the amount and types of consideration to be received by holders of shares of Class A Common Stock in the Pubco Offer, any election with respect to types of consideration that a holder of shares of Class A Common
Stock, as applicable, shall be entitled to make in connection with such Pubco Offer, and the number of Units (and the corresponding shares of Class B Common Stock or Class C Common Stock) held by such Member that is applicable to such
Pubco Offer. The Members (other than the Corporation and its Subsidiaries) shall be permitted to participate in such Pubco Offer by delivering a written notice of participation that is effective immediately prior to the consummation of such Pubco
Offer (and that is contingent upon consummation of such offer and shall not be effective if such Pubco Offer is not consummated), and shall include such information necessary for consummation of such offer as requested by the Corporation. In the
case of any Pubco Offer that was initially proposed by the Corporation, the Corporation shall use reasonable best efforts to enable and permit the Members (other than the Corporation and its Subsidiaries) to participate in such transaction to the
same extent or on an economically equivalent basis as the holders of shares of Class A Common Stock, and to enable such Members to participate in such transaction without being required to exchange Units or shares of Class B Common Stock
or Class C Common Stock, as applicable, prior to the consummation of such transaction. For the avoidance of doubt, in no event shall the Members be entitled to receive in such Pubco Offer aggregate consideration for each Common Unit that is
less or greater than the consideration payable in respect of each share of Class A Common Stock in connection with a Pubco Offer (it being understood that payments under or in respect of the Tax Receivable Agreement shall not be considered part
of any such consideration). 
 (c) In the event that a transaction or proposed transaction constitutes both a Change of Control Transaction
and a Pubco Offer, the provisions of Section 10.09(b) shall take precedence over the provisions of Section 10.09(a) with respect to such transaction, and the provisions of
Section 10.09(b) shall be subordinate to provisions of Section 10.09(b), and may only be triggered if the Manager elects to waive the provisions of Section 10.09(b).  

  
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 ARTICLE XI. 

REDEMPTION AND DIRECT EXCHANGE RIGHTS 

Section 11.01 Redemption Right of a Member. 

(a) Each Member (other than the Corporation and its Subsidiaries) shall be entitled to cause the Company to redeem (a
“Redemption”) its Common Units (excluding, for the avoidance of doubt, any Common Units that are subject to vesting conditions) in whole or in part (the “Redemption Right”); provided, that each
Redemption of Common Units must consist of at least 1,000 Common Units or all Common Units then held by such Member. A Member desiring to exercise its Redemption Right (each, a “Redeeming Member”) shall exercise such right by
giving written notice (the “Redemption Notice”) to the Company with a copy to the Corporation. The Redemption Notice shall specify the number of Common Units (the “Redeemed Units”) that the Redeeming
Member intends to have the Company redeem and a date, not less than two (2) Business Days after delivery of such Redemption Notice (unless and to the extent that the Manager in its sole discretion agrees in writing to waive such time period),
on which exercise of the Redemption Right shall be completed (the “Redemption Date”), and may specify that the Redemption is to be contingent (including as to timing) upon the consummation of a purchase by or exchange with
another Person (whether in a tender offer, an underwritten offering, a block sale or otherwise) of shares of Class A Common Stock or Class D Common Stock, as applicable, issuable upon Redemption of the Units and shares of Class B
Common Stock, Class C Common Stock, or contingent (including as to timing) upon the closing of an announced merger, consolidation or other transaction or event in which the Class A Common Stock would be exchanged or converted or become
exchangeable for or convertible into cash or other securities or property or upon the closing or occurrence of any other event, in which case the Redemption shall be consummated immediately prior to and contingent upon such closing or occurrence,
and in any such case specify the amount of cash or amount and type of property to be received by the Redeeming Member therein; provided, however, that, the Redeeming Member, by written notice at least one (1) Business Day prior to
the previously specified Redemption Date, or the Company, the Corporation and the Redeeming Member, by mutual agreement signed in writing by each of them, may change the number of Redeemed Units and/or the Redemption Date specified in such
Redemption Notice to another number and/or date; provided, further, that in the event the Corporation elects a Share Settlement, the Redemption may be conditioned (including as to timing) by the Redeeming Member on the closing of an
underwritten distribution of the shares of Class A Common Stock that may be issued in connection with such proposed Redemption. Subject to Section 11.04 and unless the Redeeming Member timely has delivered a Retraction
Notice as provided in Section 11.01(c) or has revoked or delayed a Redemption as provided in Section 11.01(d), on the Redemption Date (to be effective immediately prior to the close of business on
the Redemption Date): 
 (i) the Redeeming Member shall Transfer and surrender, free and clear of all liens and encumbrances
(x) the Redeemed Units to the Company (including any certificates representing the Redeemed Units if they are certificated), and (y) a number of shares of Class B Common Stock or Class C Common Stock, as applicable (together with
any Corresponding Rights), equal to the number of Redeemed Units to the Corporation, to the extent applicable; 

  
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 (ii) the Company shall (x) cancel the Redeemed Units, (y) transfer
to the Redeeming Member the consideration to which the Redeeming Member is entitled under Section 11.01(b), and (z) if the Common Units are certificated, issue to the Redeeming Member a certificate for a number of
Common Units equal to the difference (if any) between the number of Common Units evidenced by the certificate surrendered by the Redeeming Member pursuant to clause (i) of this Section 11.01(a) and the Redeemed Units;
and 
 (iii) the Corporation shall (x) cancel and retire for no consideration the shares of Class B Common Stock or
Class C Common Stock, as applicable (together with any Corresponding Rights), that were Transferred to the Corporation pursuant to Section 11.01(a)(i)(y) above and (y) to the extent the Member holds certificated
Class B Common Stock or Class C Common Stock, issue to the Redeeming Member a certificate for a number of shares of Class B Common Stock or Class C Common Stock, as applicable, equal to the difference (if any) between the number
of shares of Class B Common Stock or Class C Common Stock, as applicable, evidenced by the certificate surrendered by the Redeeming Member pursuant to clause (i) of this Section 11.01(a) and the Redeemed
Units. 
 (b) The Corporation shall have the option (as determined solely by the Disinterested Majority) as provided in
Section 11.03 to elect to have the Redeemed Units be redeemed in consideration for either a Share Settlement or a Cash Settlement; provided, for the avoidance of doubt, that the Corporation may elect to have the
Redeemed Units be redeemed in consideration for a Cash Settlement only to the extent that the Corporation has cash available in an amount equal to at least the Redeemed Units Equivalent, which cash was received from a Qualifying Offering. The
Corporation shall give written notice (the “Election Notice”) to the Company (with a copy to the Redeeming Member) of such election on the earlier of (i) three (3) Business Days of receiving the Redemption Notice and
(ii) the Redemption Date specified in the Redemption Notice; provided, that if the Corporation does not timely deliver an Election Notice, the Corporation shall be deemed to have elected the Share Settlement method (subject to the
limitations set forth above). 
 (c) In the event the Corporation elects the Cash Settlement in connection with a Redemption, the Redeeming
Member may retract its Redemption Notice by giving written notice (the “Retraction Notice”) to the Company (with a copy to the Corporation) on or before the earlier of (i) the Redemption Date specified in the Redemption
Notice and (ii) three (3) Business Days after delivery of the Election Notice. The timely delivery of a Retraction Notice shall terminate all of the Redeeming Member’s, the Company’s and the Corporation’s rights and obligations
under this Section 11.01 arising from the related Redemption Notice. 
 (d) In the event the Corporation elects a
Share Settlement in connection with a Redemption, a Redeeming Member shall be entitled to revoke its Redemption Notice or delay the consummation of a Redemption if any of the following conditions exists: 

(i) any registration statement pursuant to which the resale of the Class A Common Stock (including any Class A Common
Stock issued or issuable upon the conversion of Class D Common Stock) to be registered for such Redeeming Member at or immediately following the consummation of the Redemption shall have ceased to be effective pursuant to any action or inaction
by the SEC or no such resale registration statement has yet become effective; 

  
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 (ii) the Corporation shall have failed to cause any related prospectus to be
supplemented by any required prospectus supplement necessary to effect such Redemption; 
 (iii) the Corporation shall have
exercised its right to defer, delay or suspend the filing or effectiveness of a registration statement and such deferral, delay or suspension shall affect the ability of such Redeeming Member to have its Class A Common Stock (including any
Class A Common Stock issued or issuable upon the conversion of Class D Common Stock) registered at or immediately following the consummation of the Redemption; 

(iv) the Redeeming Member is in possession of any material non-public information
concerning the Corporation, the receipt of which results in such Redeeming Member being prohibited or restricted from selling Class A Common Stock (including any Class A Common Stock issued or issuable upon the conversion of Class D
Common Stock) at or immediately following the Redemption without disclosure of such information (and the Corporation does not permit disclosure of such information); 

(v) any stop order relating to the registration statement pursuant to which the Class A Common Stock was to be registered
by such Redeeming Member at or immediately following the Redemption shall have been issued by the SEC; 
 (vi) there shall
have occurred a material disruption in the securities markets generally or in the market or markets in which the Class A Common Stock is then traded; 

(vii) there shall be in effect an injunction, a restraining order or a decree of any nature of any Governmental Entity that
restrains or prohibits the Redemption; 
 (viii) the Corporation shall have failed to comply in all material respects with
its obligations under the Registration Rights Agreement, and such failure shall have affected the ability of such Redeeming Member to consummate the resale of Class A Common Stock (including any Class A Common Stock issued or issuable upon
the conversion of Class D Common Stock) to be received upon such Redemption pursuant to an effective registration statement; 

(ix) the Redemption Date would occur during a Black-Out Period; or 

(x) the Redeeming Member so elects by written notice to the Company no later than three (3) Business Days prior to the
scheduled Redemption Date. 
 If a Redeeming Member delays the consummation of a Redemption pursuant to this
Section 11.01(d), the Redemption Date shall occur on the fifth (5th) Business Day following the date on which the condition(s) giving rise to such delay cease to exist
(or such earlier day as the Corporation, the Company and such Redeeming Member may agree in writing). 

  
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 (e) The number of shares of Class A Common Stock or Class D Common Stock, as
applicable, (or Redeemed Units Equivalent, if applicable) (together with any Corresponding Rights) applicable to any Share Settlement or Cash Settlement shall not be adjusted on account of any Distributions previously made with respect to the
Redeemed Units or dividends previously paid with respect to Class A Common Stock or Class D Common Stock, as applicable; provided, however, that if a Redeeming Member causes the Company to redeem Redeemed Units and the Redemption
Date occurs subsequent to the record date for any Distribution with respect to the Redeemed Units but prior to payment of such Distribution, the Redeeming Member shall be entitled to receive such Distribution with respect to the Redeemed Units on
the date that it is made notwithstanding that the Redeeming Member Transferred and surrendered the Redeemed Units to the Company prior to such date; provided, further, however, that a Redeeming Member shall be entitled to
receive any and all Tax Distributions that such Redeeming Member otherwise would have received in respect of income allocated to such Member for the portion of any Fiscal Year irrespective of whether such Tax Distribution(s) are declared or made
after the Redemption Date. 
 (f) In the case of a Share Settlement, in the event a reclassification or other similar transaction occurs
following delivery of a Redemption Notice, but prior to the Redemption Date, as a result of which shares of Class A Common Stock or Class D Common Stock, as applicable, are converted into another security, then a Redeeming Member shall be
entitled to receive the amount of such other security (and, if applicable, any Corresponding Rights) that the Redeeming Member would have received if such Redemption Right had been exercised and the Redemption Date had occurred immediately prior to
the record date of such reclassification or other similar transaction. 
 (g) Notwithstanding anything to the contrary contained herein,
neither the Company nor the Corporation shall be obligated to effectuate a Redemption if such Redemption could (as determined in the sole discretion of the Manager) cause the Company to be treated as a “publicly traded partnership” or to
be taxed as a corporation pursuant to Section 7704 of the Code or successor provisions of the Code. 

Section 11.02 Mandatory Redemption. In the event that Members holding at least a majority of the
then-outstanding Common Units deliver Redemption Notices to the Company in connection with the IPO that specify that such Redemption is to be contingent upon a pro rata Redemption from all Members, then the Company shall cause to be redeemed a pro
rata number of Common Units from all Members on the same terms and conditions as the Redemption from the Redeeming Members, regardless of whether such Members have submitted a Redemption Notice (such Redemption, a “Mandatory
Redemption” and any Member that has not submitted a Redemption Notice in respect of the Mandatory Redemption, a “Redeemed Member”). Any Mandatory Redemption shall be subject to the same terms, conditions and
procedures of a Redemption pursuant to the terms hereof; provided, that in no event shall a Redeemed Member be entitled to deliver a Retraction Notice in respect of a Mandatory Redemption; and provided, further, that the minimum
Redeemed Unit threshold set forth in the first sentence of Section 11.01(a) shall not apply with respect to any Redeemed Member. 

  
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 Section 11.03 Election and Contribution of the Corporation.
Unless the Redeeming Member has timely delivered a Retraction Notice as provided in Section 11.01(c), or has revoked or delayed a Redemption as provided in Sections 11.01(d), subject to
Section 11.04, on the Redemption Date (to be effective immediately prior to the close of business on the Redemption Date) (i) the Corporation shall make a Capital Contribution to the Company (in the form of the Share
Settlement or the Cash Settlement, as determined by the Corporation in accordance with Section 11.01(b)), and (ii) the Company shall issue to the Corporation a number of Common Units equal to the number of Redeemed
Units surrendered by the Redeeming Member. Notwithstanding any other provisions of this Agreement to the contrary, but subject to Section 11.04, in the event that the Corporation elects a Cash Settlement, the Corporation
shall only be obligated to contribute to the Company an amount in respect of such Cash Settlement equal to the Redeemed Units Equivalent with respect to such Cash Settlement, which in no event shall exceed the amount actually paid by the Company to
the Redeeming Member as the Cash Settlement. The timely delivery of a Retraction Notice shall terminate all of the Company’s and the Corporation’s rights and obligations under this Section 11.02 arising from the
Redemption Notice. 
 Section 11.04 Direct Exchange Right of the Corporation. 

(a) Notwithstanding anything to the contrary in this Article XI (save for the limitations set forth in
Section 11.01(b) regarding the Corporation’s option to select the Share Settlement or the Cash Settlement, and without limitation to the rights of the Members under Section 11.01, including
the right to revoke a Redemption Notice), the Corporation may, in its sole and absolute discretion (as determined solely by the Disinterested Majority) (subject to the limitations set forth on such discretion in
Section 11.01(b)), elect to effect on the Redemption Date the exchange of Redeemed Units for the Share Settlement or the Cash Settlement, as the case may be, through a direct exchange of such Redeemed Units and the Share
Settlement or the Cash Settlement, as applicable, between the Redeeming Member and the Corporation (a “Direct Exchange”) (rather than contributing the Share Settlement or the Cash Settlement, as the case may be, to the
Company in accordance with Section 11.03 for purposes of the Company redeeming the Redeemed Units from the Redeeming Member in consideration of the Share Settlement or the Cash Settlement, as applicable). Upon such Direct
Exchange pursuant to this Section 11.04, the Corporation shall acquire the Redeemed Units and shall be treated for all purposes of this Agreement as the owner of such Units. 

(b) The Corporation may, at any time prior to a Redemption Date (including after delivery of an Election Notice pursuant to
Section 11.01(b)), deliver written notice (an “Exchange Election Notice”) to the Company and the Redeeming Member setting forth its election to exercise its right to consummate a Direct Exchange;
provided, that such election is subject to the limitations set forth in Section 11.01(b) and does not unreasonably prejudice the ability of the parties to consummate a Redemption or Direct Exchange on the Redemption
Date. An Exchange Election Notice may be revoked by the Corporation at any time; provided, that any such revocation does not unreasonably prejudice the ability of the parties to consummate a Redemption or Direct Exchange on the Redemption
Date. The right to consummate a Direct Exchange in all events shall be exercisable for all of the Redeemed Units that would have otherwise been subject to a Redemption. 

(c) Except as otherwise provided by this Section 11.04, a Direct Exchange shall be consummated pursuant to the same
timeframe as the relevant Redemption would have been consummated if the Corporation had not delivered an Exchange Election Notice and as follows: 

  
 50 

 (i) the Redeeming Member shall transfer and surrender, free and clear of all
liens and encumbrances (x) the Redeemed Units and (y) a number of shares of Class B Common Stock or Class C Common Stock, as applicable (together with any Corresponding Rights), equal to the number of Redeemed Units, to the
extent applicable, in each case, to the Corporation; 
 (ii) the Corporation shall (x) pay to the Redeeming Member the
Share Settlement or the Cash Settlement, as applicable, (y) cancel and retire for no consideration the shares of Class B Common Stock or Class C Common Stock, as applicable (together with any Corresponding Rights), that were
Transferred to the Corporation pursuant to Section 11.04(c)(i)(y) above, and (z) to the extent the Redeeming Member holds certificated Class B Common Stock or Class C Common Stock, issue to the Redeeming
Member a certificate for a number of shares of Class B Common Stock or Class C Common Stock, as applicable, equal to the difference (if any) between the number of shares of Common Stock evidenced by the certificate surrendered by the
Redeeming Member and the Redeemed Units; and 
 (iii) the Company shall (x) register the Corporation as the owner of the
Redeemed Units and (y) if the Common Units are certificated, issue to the Redeeming Member a certificate for a number of Units equal to the difference (if any) between the number of Common Units evidenced by the certificate surrendered by the
Redeeming Member pursuant to Section 11.04(c)(i)(x) and the Redeemed Units, and issue to the Corporation a certificate for the number of Redeemed Units. 

Section 11.05 Reservation of Shares of Class A Common Stock and Class D
Common Stock; Listing; Certificate of the Corporation. At all times the Corporation shall reserve and keep available out of its authorized but unissued Class A Common Stock and Class D Common Stock, solely for the purpose
of issuance upon a Share Settlement in connection with a Redemption or Direct Exchange, such number of shares of Class A Common Stock or Class D Common Stock, as applicable, as shall be issuable upon any such Share Settlement pursuant to a
Redemption or Direct Exchange; provided that nothing contained herein shall be construed to preclude the Corporation from satisfying its obligations in respect of any such Share Settlement pursuant to a Redemption or Direct Exchange by
delivery of purchased Class A Common Stock or Class D Common Stock, as applicable (which may or may not be held in the treasury of the Corporation), or by way of Cash Settlement. The Corporation shall deliver Class A Common Stock that
has been registered under the Securities Act with respect to any Share Settlement pursuant to a Redemption or Direct Exchange to the extent a registration statement is effective and available with respect to such shares. The Corporation shall use
its commercially reasonable efforts to list the Class A Common Stock required to be delivered upon any such Share Settlement pursuant to a Redemption or Direct Exchange prior to such delivery upon each national securities exchange upon which
the outstanding shares of Class A Common Stock are listed at the time of such Share Settlement pursuant to a Redemption or Direct Exchange (it being understood that any such shares may be subject to transfer restrictions under applicable
securities Laws). The Corporation covenants that all shares of Class A Common Stock or Class D Common Stock, as applicable, issued in connection with a Share Settlement pursuant to a Redemption or Direct Exchange will, upon issuance, be
validly issued, fully paid and non-assessable. The provisions of this Article XI shall be interpreted and applied in a manner consistent with any corresponding provisions of the Corporation’s
certificate of incorporation (if any). 

  
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 Section 11.06 Effect of Exercise of Redemption or Direct
Exchange. This Agreement shall continue notwithstanding the consummation of a Redemption or Direct Exchange by a Member and all rights set forth herein shall continue in effect with respect to the remaining Members and, to the extent the
Redeeming Member has any remaining Units following such Redemption or Direct Exchange, the Redeeming Member. No Redemption or Direct Exchange shall relieve a Redeeming Member of any prior breach of this Agreement by such Redeeming Member.

 Section 11.07 Tax Treatment. 

(a) In connection with any Redemption or Direct Exchange, the Redeeming Member shall, to the extent it is legally entitled to deliver such
form, deliver to the Manager or the Company, as applicable, a certificate, dated as of the Redemption Date, in a form reasonably acceptable to the Manager or the Company, as applicable, certifying as to such Redeeming Member’s taxpayer
identification number and that such Redeeming Member is a not a foreign person for purposes of Section 1445 and Section 1446(f) of the Code (which certificate may be an IRS Form W-9 if then
sufficient for such purposes under applicable Law) (such certificate a “Non-Foreign Person Certificate”). If a Redeeming Member is unable to
provide a Non-Foreign Person Certificate in connection with a Redemption or a Direct Exchange, then (i) such Redeeming Member and the Company shall cooperate to provide any other certification or
determination described in proposed Treasury Regulations Sections 1.1446(f)-2(b) and 1.1446(f)-2(c) or otherwise permitted under applicable Law at the time of such
Redemption or Direct Exchange, and the Manager or the Company, as applicable, shall be permitted to withhold on the amount realized by such Redeeming Member in respect of such Redemption or Direct Exchange to the extent required under in
Section 1446(f) of the Code and Treasury Regulations thereunder after taking into account the certificate or other determination provided pursuant this sentence and (ii) upon request and to the extent permitted under applicable Law, the
Company shall deliver a certificate pursuant to Treasury Regulations Section 1.1445-11T(d)(2) certifying that fifty percent (50%) or more of the value of the gross assets of the Company does not consist
of “U.S. real property interests” (as used in Treasury Regulations Section 1.1445-11T), or that ninety percent (90%) or more of the value of the gross assets of the Company does not consist of
“U.S. real property interests” plus “cash or cash equivalents” (as used in Treasury Regulations Section 1.1445-11T); provided, that if the Company is not legally entitled to
provide the certificate described in clause (ii), the Corporation shall be permitted to withhold on the amount realized by such Redeeming Member in respect of such Redemption or Direct Exchange to the extent required under in Section 1445 of
the Code and Treasury Regulations. 
 (b) Unless otherwise required by applicable Law, the parties hereto acknowledge and agree that a
Redemption or a Direct Exchange, as the case may be, shall be treated as a direct exchange of a Share Settlement or a Cash Settlement, as applicable, on the one hand, and the Redeemed Units, on the other hand, between the Corporation and the
Redeeming Member for U.S. federal and applicable state and local income tax purposes. 

  
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 ARTICLE XII. 

ADMISSION OF MEMBERS 

Section 12.01 Substituted Members. Subject to the provisions of Article X hereof, in connection
with the Permitted Transfer of a Unit hereunder, the Permitted Transferee shall become a Substituted Member on the effective date of such Transfer, which effective date shall not be earlier than the date of compliance with the conditions to
such Transfer, and such admission shall be shown on the books and records of the Company, including the Schedule of Members. 

Section 12.02 Additional Members. Subject to the provisions of Article X hereof, any Person that is
not a Member as of the Effective Date may be admitted to the Company as an additional Member (any such Person, an “Additional Member”) only upon furnishing to the Manager (a) duly executed Joinder and counterparts to any
applicable Other Agreements and (b) such other documents or instruments as may be reasonably necessary or appropriate to effect such Person’s admission as a Member (including entering into such documents as may reasonably be requested by
the Manager). Such admission shall become effective on the date on which the Manager determines in its sole discretion that such conditions have been satisfied and when any such admission is shown on the books and records of the Company, including
the Schedule of Members. 
 ARTICLE XIII. 

WITHDRAWAL AND RESIGNATION; TERMINATION OF RIGHTS 

Section 13.01 Withdrawal and Resignation of Members. Except in the event of Transfers pursuant to
Section 10.06 and the Manager’s right to resign pursuant to Section 6.03, no Member shall have the power or right to withdraw or otherwise resign as a Member from the Company prior to the
dissolution and winding up of the Company pursuant to Article XIV. Any Member, however, that attempts to withdraw or otherwise resign as a Member from the Company without the prior written consent of the Manager upon or following the
dissolution and winding up of the Company pursuant to Article XIV, but prior to such Member receiving the full amount of Distributions from the Company to which such Member is entitled pursuant to Article XIV, shall be liable to the
Company for all damages (including all lost profits and special, indirect and consequential damages) directly or indirectly caused by the withdrawal or resignation of such Member. Upon a Transfer of all of a Member’s Units in a Transfer
permitted by this Agreement, subject to the provisions of Section 10.06, such Member shall cease to be a Member. 

ARTICLE XIV. 
 DISSOLUTION AND
LIQUIDATION 
 Section 14.01 Dissolution. The Company shall not be dissolved by the admission of Additional
Members or Substituted Members or the attempted withdrawal, removal, dissolution, bankruptcy or resignation of a Member. The Company shall dissolve, and its affairs shall be wound up, upon: 

(a) the decision of the Manager together with the written approval of the Members holding at least 80% of the Units then outstanding to
dissolve the Company (excluding for purposes of such calculation the Corporation and all Units held directly or indirectly by it); 

  
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 (b) a dissolution of the Company under
Section 18-801(a)(4) of the Delaware Act, unless the Company is continued without dissolution pursuant thereto; or 

(c) the entry of a decree of judicial dissolution of the Company under Section 18-802 of the
Delaware Act. 
 Except as otherwise set forth in this Article XIV, the Company is intended to have perpetual existence. An Event of Withdrawal shall
not in and of itself cause a dissolution of the Company and the Company shall, to the fullest extent permitted by Law, continue in existence subject to the terms and conditions of this Agreement. 

Section 14.02 Winding Up. Subject to Section 14.05, on dissolution of the Company,
the Manager shall act as liquidating trustee or may appoint one or more Persons as liquidating trustee (each such Person, a “Liquidator”). The Liquidators shall proceed diligently to wind up the affairs of the Company and
make final distributions as provided herein and in the Delaware Act. The costs of liquidation shall be borne as an expense of the Company. Until final distribution, the Liquidators shall, to the fullest extent permitted by applicable Law, continue
to operate the properties of the Company with all of the power and authority of the Manager. The steps to be accomplished by the Liquidators are as follows: 

(a) as promptly as possible after dissolution and again after final liquidation, the Liquidators shall cause a proper accounting to be made by
a recognized firm of certified public accountants of the Company’s assets, liabilities and operations through the last day of the calendar month in which the dissolution occurs or the final liquidation is completed, as applicable; 

(b) the Liquidators shall pay, satisfy or discharge from the Company’s funds, or otherwise make adequate provision for payment and
discharge thereof (including, without limitation, the establishment of a cash fund for contingent, conditional and unmatured liabilities in such amount and for such term as the Liquidators may reasonably determine) the following: first, all of the
debts, liabilities and obligations of the Company owed to creditors other than the Members, including all expenses incurred in connection with the liquidation and winding up of the Company; and second, all of the debts, liabilities and obligations
of the Company owed to the Members (other than any payments or distributions owed to such Members in their capacity as Members pursuant to this Agreement); and 

(c) following satisfaction of the Company’s debts, liabilities and obligations pursuant to the foregoing
Section 14.02(b), all remaining assets of the Company shall be distributed to the Members in accordance with Section 4.01(a)(i) by the end of the Taxable Year during which the liquidation of the
Company occurs (or, if later, by ninety (90) days after the date of the liquidation). 
 The distribution of cash and/or property to
the Members in accordance with the provisions of this Section 14.02 and Section 14.03 below shall constitute a complete return to the Members of their Capital Contributions, a complete distribution
to the Members of their interest in the Company and all of the Company’s property and shall constitute a compromise to which all Members have consented within the meaning of the Delaware Act. To the extent that a Member returns funds to the
Company, it has no claim against any other Member for those funds. 

  
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 Section 14.03 Deferment; Distribution in Kind.
Notwithstanding the provisions of Section 14.02, but subject to the order of priorities set forth therein, if upon dissolution of the Company the Liquidators determine that an immediate sale of part or all of the
Company’s assets would be impractical or would cause undue loss (or would otherwise not be beneficial) to the Members, the Liquidators may, in their sole discretion and to the fullest extent permitted by applicable Law, defer for a reasonable
time the liquidation of any assets except those necessary to satisfy the Company’s liabilities (other than loans to the Company by any Member(s)) and reserves. Subject to the order of priorities set forth in
Section 14.02, the Liquidators may, with the written approval of (i) both the Mainsail Related Parties and the Just Rocks Related Parties that are Members, at any time that the Mainsail Related Parties and the Just
Rocks Related Parties that are Members continue to hold a majority of the Units then outstanding (excluding in each case for purposes of such calculations the Corporation and all Units held directly or indirectly by it), and (ii) the Members
holding a majority of the Units then outstanding, at any other time (excluding for purposes of such calculation the Corporation and all Units held directly or indirectly by it), distribute to the Members, in lieu of cash, either (a) all or any
portion of such remaining assets in-kind of the Company in accordance with the provisions of Section 14.02(c), (b) as tenants in common and in accordance with the provisions of
Section 14.02(c), undivided interests in all or any portion of such assets of the Company or (c) a combination of the foregoing. Any such Distributions in-kind shall be subject
to (y) such conditions relating to the disposition and management of such assets as the Liquidators deem reasonable and equitable and (z) the terms and conditions of any agreements governing such assets (or the operation thereof or the
holders thereof) at such time. Any assets of the Company distributed in kind will first be written up or down to their Fair Market Value, thus creating Profit or Loss (if any), which shall be allocated in accordance with Article V. The
Liquidators shall determine the Fair Market Value of any property distributed. 
 Section 14.04 Cancellation of
Certificate. On completion of the winding up of the Company as provided herein, the Manager (or such other Person or Persons as the Delaware Act may require or permit) shall file a certificate of cancellation of the Certificate of Formation with
the Secretary of State of Delaware, cancel any other filings made pursuant to this Agreement that should be canceled and take such other actions as may be necessary to terminate the existence of the Company. The Company shall continue in existence
for all purposes of this Agreement until it is terminated pursuant to this Section 14.04. 

Section 14.05 Reasonable Time for Winding Up. A reasonable time shall be allowed for the orderly winding up
of the business and affairs of the Company and the liquidation of its assets pursuant to Sections 14.02 and 14.03 in order to minimize any losses otherwise attendant upon such winding up. 

Section 14.06 Return of Capital. The Liquidators shall not be personally liable for the return of Capital
Contributions or any portion thereof to the Members (it being understood that any such return shall be made solely from assets of the Company). 

  
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 ARTICLE XV. 

GENERAL PROVISIONS 

Section 15.01 Power of Attorney. 

(a) Each Member hereby constitutes and appoints the Manager (or the Liquidator, if applicable) with full power of substitution, as his or her
true and lawful agent and attorney-in-fact, with full power and authority in his, her or its name, place and stead, to: 

(i) execute, swear to, acknowledge, deliver, file and record in the appropriate public offices (A) this Agreement, all certificates and
other instruments and all amendments thereof which the Manager deems appropriate or necessary to form, qualify, or continue the qualification of, the Company as a limited liability company in the State of Delaware and in all other jurisdictions in
which the Company may conduct business or own property; (B) all conveyances and other instruments or documents which the Manager deems appropriate or necessary to reflect the dissolution, winding up and termination of the Company pursuant to
the terms of this Agreement, including a certificate of cancellation; and (C) all instruments relating to the admission, substitution or resignation of any Member pursuant to Article XII or XIII; and 

(ii) sign, execute, swear to and acknowledge all ballots, consents, approvals, waivers, certificates and other instruments appropriate or
necessary, in the reasonable judgment of the Manager, to evidence, confirm or ratify any vote, consent, approval, agreement or other action which is made or given by the Members hereunder. 

(b) The foregoing power of attorney coupled with an interest and, to the fullest extent permitted by Law, is irrevocable, and shall survive the
death, disability, incapacity, dissolution, bankruptcy, insolvency or termination of any Member and the transfer of all or any portion of his, her or its Units and shall extend to such Member’s heirs, successors, assigns and personal
representatives. 
 Section 15.02 Confidentiality. 

(a) Each of the Members (other than the Corporation) agrees to hold the Company’s Confidential Information in confidence and may not
disclose or use such information except as otherwise authorized separately in writing by the Manager. “Confidential Information” as used herein includes all information concerning the Corporation, the Company or their
Subsidiaries, in whatever form, whether written, electronic or oral, including, but not limited to, ideas, financial product structuring, business strategies, innovations and materials, all aspects of the Corporation’s and/or the Company’s
business plan, proposed operation and products, corporate structure, financial and organizational information, analyses, proposed partners, software code and system and product designs, employees and their identities, equity ownership, the methods
and means by which either the Corporation or the Company plans to conduct its business, all trade secrets, trademarks, tradenames and all intellectual property associated with the Corporation’s and/or Company’s business. With respect to
each Member, Confidential Information does not include information or material that: (a) is, or becomes, generally available to the public other than as a direct or indirect result of a disclosure by such Member or its Affiliates or
representatives; (b) is, or becomes, available to such Member from a source other than the Corporation, the Company or 

  
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their representatives, provided that such source is not, and was not, known to such Member to be bound by a confidentiality agreement with, or any other contractual, fiduciary or other
legal obligation of confidentiality to, the Corporation, the Company or any of their Affiliates or representatives; (c) is approved for release by written authorization of the Chief Executive Officer, Chief Financial Officer or General Counsel
of the Company or of the Corporation, or any other officer designated by the Manager; or (d) is or becomes independently developed by such Member or its respective representatives without use of or reference to the Confidential Information.

 (b) Solely to the extent it is reasonably necessary or appropriate to fulfill its obligations or to exercise its rights under this
Agreement, any Other Agreement or any other agreement to which such Member is party with the Corporation, the Company or any of its Subsidiaries, each of the Members may disclose Confidential Information to its Subsidiaries, Affiliates, partners,
members, directors, officers, employees, counsel, advisers, consultants, outside contractors and other agents, on the condition that such Persons keep the Confidential Information confidential to the same extent as such Member is required to keep
the Confidential Information confidential; provided, that such Member shall remain liable with respect to any breach of this Section 15.02 by any such Subsidiaries, Affiliates, partners, directors, officers,
employees, counsel, advisers, consultants, outside contractors and other agents (as if such Persons were party to this Agreement for purposes of this Section 15.02). 

(c) Notwithstanding Section 15.02(a) or Section 15.02(b), each of the Members may disclose
Confidential Information (i) to the extent that such Member is required by Law (by oral questions, interrogatories, request for information or documents, subpoena, civil investigative demand or similar process) to disclose any of the
Confidential Information or to regulatory authorities requesting information from such Member, (ii) for purposes of reporting to its stockholders and direct and indirect equity holders (each of whom are bound by customary confidentiality
obligations) the performance of the Company and its Subsidiaries and for purposes of including applicable information in its financial statements to the extent required by applicable Law or applicable accounting standards; or (iii) to any
bona fide prospective purchaser of the equity or assets of a Member, or the Units held by such Member, or a prospective merger partner of such Member (provided, that (i) such Persons will be informed by such Member of the
confidential nature of such information and shall agree in writing to keep such information confidential in accordance with the contents of this Agreement and (ii) each Member will be liable for any breaches of this
Section 15.02 by any such Persons (as if such Persons were party to this Agreement for purposes of this Section 15.02)). Notwithstanding any of the foregoing, nothing in this
Section 15.02 will restrict in any manner the ability of the Corporation to comply with its disclosure obligations under Law, and the extent to which any Confidential Information is necessary or desirable to disclose. 

Section 15.03 Amendments. Except as otherwise contemplated by this Agreement, this Agreement may be amended
or modified upon the prior written consent of the Manager, together with the prior written consent of the holders of a majority of the Units then outstanding (excluding all Units held directly or indirectly by the Corporation). Notwithstanding the
foregoing, no amendment or modification: 
 (a) to this Section 15.03 that would adversely affect the Members may
be made without the prior written consent of the Manager and each of the Members; 

  
 57 

 (b) to any of the terms and conditions of this Agreement, which terms and conditions
expressly require the approval or action of certain Persons, may be made without obtaining the consent of the requisite number or specified percentage of such Persons who are entitled to approve or take action on such matter; and 

(c) to any of the terms and conditions of this Agreement which would (A) reduce the amounts distributable to a Member pursuant to
Articles IV and XIV in a manner that is not pro rata with respect to all Members, (B) increase the liabilities of such Member hereunder, (C) otherwise adversely affect in any material respect a holder of Units in a
manner materially disproportionate to any other holder of Units (other than amendments, modifications and waivers necessary to implement the provisions of Article XII) or (D) adversely affect in any material respect the rights of any
Member under Article XI, shall be effective against such affected Member or holder of Units, as the case may be, without the prior written consent of such Member or holder of Units, as the case may be. 

Notwithstanding any of the foregoing, the Manager may make any amendment to this Agreement (i) of an administrative nature that is
necessary in order to implement the substantive provisions hereof, without the consent of any other Member; provided, that any such amendment does not adversely change the rights of the Members hereunder in any respect, or (ii) to
reflect any changes to the Class A Common Stock, Class B Common Stock, Class C Common Stock or Class D Common Stock or the issuance of any other capital stock of the Corporation. The Manager shall deliver a copy of any amendment
or modification to this Agreement that does not receive the consent of all Members promptly (but in any event within 30 days) after the effectiveness thereof to all Members that did not consent to such amendment or modification. 

Section 15.04 Title to Company Assets. Company assets shall be owned by the Company as an entity, and no
Member, individually or collectively, shall have any ownership interest in such assets of the Company or any portion thereof. The Company shall hold title to all of its property in the name of the Company and not in the name of any Member. All
assets of the Company shall be recorded as the property of the Company on its books and records, irrespective of the name in which legal title to such assets is held. The Company’s credit and assets shall be used solely for the benefit of the
Company, and no asset of the Company shall be transferred or encumbered for, or in payment of, any individual obligation of any Member. 

Section 15.05 Addresses and Notices. All notices and other communications to be given to any party hereunder
shall be sufficiently given for all purposes hereunder if in writing and delivered by hand, courier or overnight delivery service, or when received in the form of an electronic transmission (receipt confirmation requested), and shall be directed to
the address set forth, or at such address or to the attention of such other person as the recipient party has specified by prior written notice to the Company or the sending party. 

To the Company: 
 Brilliant Earth, LLC 

300 Grant Avenue, Third Floor 

San Francisco, California 94108 

(800) 691-0952 

Attention: Alex K. Grab, General Counsel 

Email: agrab@brilliantearth.com 

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

Latham & Watkins LLP 

1271 Avenue of the Americas 
 New
York, New York 10020 
 Attn: Tad Freese, Haim Zaltzman, Kristen Grannis and Benjamin Cohen 

Facsimile: (212) 906-1623 

E-mail: tad.freese@lw.com, haim.zaltzman@lw.com, Kristen.grannis@lw.com and bemjamin.cohen@lw.com 

To the Corporation: 
 Brilliant Earth Group, Inc.

 300 Grant Avenue, Third Floor 

San Francisco, California 94108 

Telephone: (800) 691-0952 

Attn: Alex K. Grab, General Counsel 

E-mail: agrab@brilliantearth.com 

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

Latham & Watkins LLP 

1271 Avenue of the Americas 
 New
York, New York 10020 
 Attn: Tad Freese, Haim Zaltzman, Kristen Grannis and Benjamin Cohen 

Facsimile: (212) 906-1623 

E-mail: tad.freese@lw.com, haim.zaltzman@lw.com, Kristen.grannis@lw.com and bemjamin.cohen@lw.com 

To the Members, as set forth on Schedule 2. 

Section 15.06 Binding Effect; Intended Beneficiaries. This Agreement shall be binding upon and inure to the
benefit of the parties hereto and their heirs, executors, administrators, successors, legal representatives and permitted assigns. 

Section 15.07 Creditors. None of the provisions of this Agreement shall be for the benefit of or enforceable
by any creditors of the Company (other than Indemnified Persons) or any of its Affiliates, and no creditor who makes a loan to the Company or any of its Affiliates may have or acquire (except pursuant to the terms of a separate agreement executed by
the Company in favor of such creditor) at any time as a result of making the loan any direct or indirect interest in Profits, Losses, Distributions, capital or property of the Company other than as a secured creditor. 

Section 15.08 Waiver. No failure by any party to insist upon the strict performance of any covenant, duty,
agreement or condition of this Agreement or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of any such breach or any other covenant, duty, agreement or condition. 

  
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 Section 15.09 Counterparts. This Agreement may be executed
in separate counterparts, each of which will be an original and all of which together shall constitute one and the same agreement binding on all the parties hereto. 

Section 15.10 Applicable Law. This Agreement shall be governed by, and construed in accordance with, the laws
of the State of Delaware, without giving effect to any choice of law or conflict of law rules or provisions (whether of the State of Delaware or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the
State of Delaware. Any suit, dispute, action or proceeding seeking to enforce any provision of, or based on any matter arising out of or in connection with, this Agreement shall be heard in the state or federal courts of the State of Delaware, and
the parties hereby consent to the exclusive jurisdiction of such court (and of the appropriate appellate courts) in any such suit, action or proceeding and waives any objection to venue laid therein. TO THE FULLEST EXTENT PERMITTED BY APPLICABLE
LAW, PROCESS IN ANY SUCH SUIT, ACTION OR PROCEEDING MAY BE SERVED ON ANY PARTY ANYWHERE IN THE WORLD, WHETHER WITHIN OR WITHOUT THE JURISDICTION OF ANY SUCH COURT (INCLUDING BY PREPAID CERTIFIED MAIL WITH A VALIDATED PROOF OF MAILING RECEIPT) AND
SHALL HAVE THE SAME LEGAL FORCE AND EFFECT AS IF SERVED UPON SUCH PARTY PERSONALLY WITHIN THE STATE OF DELAWARE. WITHOUT LIMITING THE FOREGOING, TO THE FULLEST EXTENT PERMITTED BY LAW, THE PARTIES AGREE THAT SERVICE OF PROCESS UPON SUCH PARTY AT THE
ADDRESS REFERRED TO IN SECTION 15.05 (INCLUDING BY PREPAID CERTIFIED MAIL WITH A VALIDATED PROOF OF MAILING RECEIPT), TOGETHER WITH WRITTEN NOTICE OF SUCH SERVICE TO SUCH PARTY, SHALL BE DEEMED EFFECTIVE SERVICE OF PROCESS UPON SUCH PARTY.

 Section 15.11 Severability. Whenever possible, each provision of this Agreement will be interpreted in
such manner as to be effective and valid under applicable Law, but if any provision of this Agreement is held to be invalid, illegal or unenforceable in any respect under any applicable Law or rule in any jurisdiction, such invalidity, illegality or
unenforceability will not affect any other provision or the effectiveness or validity of any provision in any other jurisdiction, and this Agreement will be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or
unenforceable provision had never been contained herein. 
 Section 15.12 Further Action. The parties shall
execute and deliver all documents, provide all information and take or refrain from taking such actions as may be necessary or appropriate to achieve the purposes of this Agreement. 

Section 15.13 Execution and Delivery by Electronic Signature and Electronic Transmission. This Agreement and
any signed agreement or instrument entered into in connection with this Agreement or contemplated hereby or entered into by the Company in accordance herewith, and any amendments hereto or thereto, to the extent signed and delivered by means of an
electronic signature and/or electronic transmission, including by a facsimile machine or via email, shall be treated in all manner and respects as an original agreement or instrument and shall be considered to have the same binding legal effect as
if it were the original signed version thereof delivered in person. At the request of any party hereto or to any such agreement or instrument, each other party hereto or thereto shall re-execute original forms
thereof and deliver them to all other parties. No party hereto or to any such agreement or instrument shall raise the use of electronic signature or electronic transmission to execute and/or deliver a document or the fact that any signature or
agreement or instrument was transmitted or communicated through such electronic transmission as a defense to the formation of a contract and each such party forever waives any such defense. 

  
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 Section 15.14 Right of Offset. Whenever the Company or the
Corporation is to pay any sum (other than pursuant to Article IV) to any Member, any amounts that such Member owes to the Company or the Corporation which are not the subject of a good faith dispute may be deducted from that sum before
payment. For the avoidance of doubt, the distribution of Units to the Corporation shall not be subject to this Section 15.14. 

Section 15.15 Entire Agreement. This Agreement, those documents expressly referred to herein (including the
Registration Rights Agreement and the Tax Receivable Agreement), any indemnity agreements entered into in connection with the Original LLC Agreement with any member of the board of directors at that time and other documents of even date herewith
embody the complete agreement and understanding among the parties and supersede and preempt any prior understandings, agreements or representations by or among the parties, written or oral, which may have related to the subject matter hereof in any
way. For the avoidance of doubt, the Original LLC Agreement is superseded in its entirety by this Agreement as of the Effective Date and shall be of no further force and effect thereafter, except to the extent reference thereto is contemplated in
this Agreement, and only for such limited purposes as stated herein. 
 Section 15.16 Remedies. Each Member
shall have all rights and remedies set forth in this Agreement and all rights and remedies which such Person has been granted at any time under any other agreement or contract and all of the rights which such Person has under any Law. Any Person
having any rights under any provision of this Agreement or any other agreements contemplated hereby shall be entitled to enforce such rights specifically (without posting a bond or other security), to recover damages by reason of any breach of any
provision of this Agreement and to exercise all other rights granted by Law. 
 Section 15.17 Descriptive
Headings; Interpretation. The descriptive headings of this Agreement are inserted for convenience only and do not constitute a substantive part of this Agreement. Whenever required by the context, any pronoun used in this Agreement shall include
the corresponding masculine, feminine or neuter forms, and the singular form of nouns, pronouns and verbs shall include the plural and vice versa. The use of the word “including” in this Agreement shall be by way of example rather than by
limitation. Reference to any agreement, document or instrument means such agreement, document or instrument as amended or otherwise modified from time to time in accordance with the terms thereof, and if applicable hereof. Without limiting the
generality of the immediately preceding sentence, no amendment or other modification to any agreement, document or instrument that requires the consent of any Person pursuant to the terms of this Agreement or any other agreement will be given effect
hereunder unless such Person has consented in writing to such amendment or modification. Wherever required by the context, references to a Fiscal Year shall refer to a portion thereof. The use of the words “or,” “either” and
“any” shall not be exclusive. Each of the parties hereto agrees that they have been represented by independent counsel of its own choice during the negotiation and execution of this Agreement and the parties hereto and their counsel have
participated jointly in the negotiation and drafting of this Agreement. To the fullest extent permitted by Law, in the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the
parties hereto, 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. 

  
 61 

 IN WITNESS WHEREOF, the undersigned have executed or caused to be executed on their behalf
this Amended and Restated Limited Liability Company Agreement as of the date first written above. 
  

			
	COMPANY:
	
	        BRILLIANT EARTH, LLC
		
	        By:	 	
                     
                                    

	        Name:
	        Title:
	
	MANAGER:
	
	        BRILLIANT EARTH GROUP, INC.
		
	        By:	 	  

	        Name:
	        Title:
	
	MEMBERS:
	        [ ● ]

 [Signature Page to Amended and Restated Limited Liability Company Agreement] 

 SCHEDULE 1 

SCHEDULE OF PRE-IPO MEMBERS 

[To Come] 

 SCHEDULE 2* 

SCHEDULE OF MEMBERS 

[TO COME] 

* This Schedule of Members shall be updated from time to time in accordance with this Agreement, including to reflect any adjustment with respect to any
subdivision (by Unit split or otherwise) or any combination (by reverse Unit split or otherwise) of any outstanding Units, or to reflect any additional issuances of Units pursuant to this Agreement. 

 Exhibit A 

FORM OF JOINDER AGREEMENT 

This JOINDER AGREEMENT, dated as of _________________, 20___ (this “Joinder”), is delivered pursuant to that certain Amended
and Restated Limited Liability Company Agreement of Brilliant Earth, LLC, a Delaware limited liability company (the “Company”), dated as of [ ● ], 2021 (as amended, restated, amended and restated, supplemented or
otherwise modified from time to time, the “LLC Agreement”) by and among the Company, Brilliant Earth Group, Inc., a Delaware corporation and the sole managing member of the Company (the “Corporation”), and each of
the Members from time to time party thereto. Capitalized terms used but not otherwise defined herein have the respective meanings set forth in the LLC Agreement. 
  

	 	1.	 Joinder to the LLC Agreement. Upon the execution of this Joinder by the undersigned and delivery hereof
to the Corporation, the undersigned hereby is and hereafter will be a Member under the LLC Agreement and a party thereto, with all the rights, privileges and responsibilities of a Member thereunder. The undersigned hereby agrees that it shall comply
with and be fully bound by the terms of the LLC Agreement as if it had been a signatory thereto as of the date thereof. The undersigned hereby acknowledges, agrees and confirms that it has received a copy of the LLC Agreement and has reviewed the
same and understands its contents. 

  

	 	2.	 Incorporation by Reference. All terms and conditions of the LLC Agreement are hereby incorporated by
reference in this Joinder as if set forth herein in full. 

  

	 	3.	 Address. All notices under the LLC Agreement to the undersigned shall be direct to:

 [Name] 

[Address] 
 [City, State, Zip
Code] 
 Attn: 
 Facsimile:

 E-mail: 

IN WITNESS WHEREOF, the undersigned has duly executed and delivered this Joinder as of the day and year first above written. 

 

			
	[NAME OF NEW MEMBER]
		
	By:	 	
                 

	Name:
	Title:

 Acknowledged and agreed 

as of the date first set forth above: 
 BRILLIANT EARTH, LLC

  

			
	By:	 	BRILLIANT EARTH GROUP, INC., its Managing Member
		
	By:	 	  

	Name:
	Title:

 Exhibit B-1 

FORM OF AGREEMENT AND CONSENT OF SPOUSE 

The undersigned spouse of _____________________________ (the “Member”), a party to that certain Amended and Restated Limited
Liability Company Agreement of Brilliant Earth, LLC, a Delaware limited liability company (the “Company”), dated as of [ ● ], 2021 (as amended, restated, amended and restated, supplemented or otherwise modified from
time to time, the “Agreement”) by and among the Company, Brilliant Earth Group, Inc., a Delaware corporation and the sole managing member of the Company, and each of the Members from time to time party thereto (capitalized terms
used but not otherwise defined herein have the respective meanings set forth in the Agreement), acknowledges on his or her own behalf that: 

I have read the Agreement and understand its contents. I acknowledge and understand that under the Agreement, any interest I may have,
community property or otherwise, in the Units owned by the Member is subject to the terms of the Agreement, which include certain restrictions on Transfer. 

I hereby consent to and approve the Agreement. I agree that said Units and any interest I may have, community property or otherwise, in such
Units are subject to the provisions of the Agreement and that I will take no action at any time to hinder operation of the Agreement on said Units or any interest I may have, community property or otherwise, in said Units. 

I hereby acknowledge that the meaning and legal consequences of the Agreement have been explained fully to me and are understood by me, and
that I am signing this Agreement and consent without any duress and of free will. 
 Dated: _____________________________ 

 

			
	[NAME OF SPOUSE]
		
	By:	 	
                 

	Name:

 Exhibit B-2 

FORM OF SPOUSE’S CONFIRMATION OF SEPARATE PROPERTY 

I, the undersigned, the spouse of _____________________________ (the “Member”), who is a party to that certain Amended and
Restated Limited Liability Company Agreement of Brilliant Earth, LLC, a Delaware limited liability company (the “Company”), dated as of [ ● ], 2021 (as amended, restated, amended and restated, supplemented or
otherwise modified from time to time, the “Agreement”) by and among the Company, Brilliant Earth Group, Inc., a Delaware corporation and the sole managing member of the Company, and each of the Members from time to time party
thereto (capitalized terms used but not otherwise defined herein have the respective meanings set forth in the Agreement), acknowledge and confirm that the Units owned by said Member are the sole and separate property of said Member, and I hereby
disclaim any interest in same. 
 I hereby acknowledge that the meaning and legal consequences of this Member’s spouse’s
confirmation of separate property have been fully explained to me and are understood by me, and that I am signing this Member’s spouse’s confirmation of separate property without any duress and of free will. 

Dated: _____________________________ 
  

			
	[NAME OF SPOUSE]
		
	By:	 	              

	Name:

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