Document:

Form of Employee Non-Qualified Stock Option Agreement

 Exhibit 10.6 
 [STANDARD NQSO-EMPLOYEE] 
 NON-QUALIFIED STOCK OPTION AGREEMENT 

FOR COMPANY EMPLOYEES 
 UNDER THE FOURTH AMENDED AND RESTATED ANSYS, INC. 
 1996 STOCK OPTION AND GRANT PLAN

 Name of
Optionee:                                       
                          
 No. of Option
Shares:                                        
                   
 Option Exercise Price per
Share:
$                                        
[FMV on Grant Date] 
 Grant
Date:                                        
                 
 Expiration
Date:                                        
                             
 Pursuant to the Fourth Amended and Restated ANSYS, Inc. 1996 Stock Option and Grant Plan, as amended through the date hereof (the “Plan”), ANSYS, Inc. (the “Company”)
hereby grants to the Optionee named above an option (the “Stock Option”) to purchase on or prior to the Expiration Date specified above all or part of the number of shares of Common Stock, par value $0.01 per share (the
“Stock”) of the Company specified above at the Option Exercise Price per Share specified above subject to the terms and conditions set forth herein and in the Plan. This Stock Option is not intended to be an “incentive stock
option” under Section 422 of the Internal Revenue Code of 1986, as amended. 
 1. Exercisability Schedule. No
portion of this Stock Option may be exercised until such portion shall have become exercisable. Except as set forth below, and subject to the discretion of the Committee (as described in Section 2 of the Plan) to accelerate the exercisability
schedule hereunder, this Stock Option shall be exercisable with respect to the following number of Option Shares on the dates indicated, so long as the Optionee remains an employee of the Company or a Subsidiary on such dates: 

 

					
	 Incremental Number of

Option Shares Exercisable
	 	 	 	 Exercisability Date

			
	____________	 	(    %)	 	____________
			
	____________	 	(    %)	 	____________
			
	____________	 	(    %)	 	____________
			
	____________	 	(    %)	 	____________

 Once
exercisable, this Stock Option shall continue to be exercisable at any time or times prior to the close of business on the Expiration Date, subject to the provisions hereof and of the Plan. 

 2. Manner of Exercise. 

(a) The Optionee may exercise this Stock Option only in the following manner: from time to time on or prior to the Expiration Date of
this Stock Option, the Optionee may elect to purchase some or all of the Option Shares with respect to which this Stock Option has vested via the Company’s dedicated on-line broker, or for Optionees subject to Section 16 of the Act (as
described in Section 1 of the Plan), the broker of his or her choice. 
 (i) Payment of the purchase price
for the Option Shares, as well as payment for any applicable taxes withheld by the Company, is coordinated through the Company’s dedicated on-line broker, or for Optionees subject to Section 16 of the Act , the broker of his or her choice,
and then wired directly to the Company upon settlement. 
 (ii) The transfer to the Optionee on the records of
the Company or of the transfer agent of the Option Shares will be contingent upon the Company’s receipt from the Optionee of full payment for the Option Shares, as set forth above and any agreement, statement or other evidence that the Company
may require to satisfy itself that the issuance of Stock to be purchased pursuant to the exercise of Stock Options under the Plan and any subsequent resale of the shares of Stock will be in compliance with applicable laws and regulations.

 (b) The shares of Stock purchased upon exercise of this Stock Option shall be transferred to the Optionee on the records of
the Company or of the transfer agent upon compliance to the satisfaction of the Committee with all requirements under applicable laws or regulations in connection with such issuance and with the requirements hereof and of the Plan. The determination
of the Committee as to such compliance shall be final and binding on the Optionee. The Optionee shall not be deemed to be the holder of, or to have any of the rights of a holder with respect to, any shares of Stock subject to this Stock Option
unless and until this Stock Option shall have been exercised pursuant to the terms hereof, the Company or the transfer agent shall have transferred the shares to the Optionee, and the Optionee’s name shall have been entered as the stockholder
of record on the books of the Company. Thereupon, the Optionee shall have full voting, dividend and other ownership rights with respect to such shares of Stock. 
 (c) The minimum number of shares with respect to which this Stock Option may be exercised at any one time shall be 100 shares, unless the number of shares with respect to which this Stock Option is being
exercised is the total number of shares subject to exercise under this Stock Option at the time. 
 (d) Notwithstanding any
other provision hereof or of the Plan, no portion of this Stock Option shall be exercisable after the Expiration Date hereof. 

3. Termination of Employment. Except as provided in Section 1 hereof, if the Optionee’s employment by the Company or its
subsidiaries is terminated for any reason or under any circumstances, this Stock Option shall no longer vest or become exercisable with respect to any Option Shares not vested and the period within which to exercise the Stock Option may be subject
to earlier termination as set forth below. 

  
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 (a) Termination Due to Death. If the Optionee’s employment terminates by reason
of the Optionee’s death, any portion of this Stock Option exercisable on such date may thereafter be exercised by the Optionee’s legal representative or legatee for a period of 12 months from the date of death or until the Expiration Date,
if earlier. 
 (b) Termination Due to Disability. If the Optionee’s employment terminates by reason of the
Optionee’s disability (as defined in Section 422(c)(6) of the Code), any portion of this Stock Option exercisable on such date may be exercised by the Optionee for a period of 12 months from the date of termination or until the Expiration
Date, if earlier. The death of the Optionee during the 12 month period provided in this Section 3(b) shall extend such period for another 12 months from the date of death or until the Expiration Date, if earlier. Any portion of this Stock
Option that is not exercisable on the date that the Optionee’s employment terminates by reason of disability shall terminate immediately and be of no further force or effect. 

(c) Termination for Cause. If the Optionee’s employment terminates for Cause, any portion of this Stock Option outstanding on
such date shall terminate immediately and be of no further force and effect. For purposes hereof, “Cause” shall mean a determination by the Company that the Optionee shall be dismissed as a result of (i) any material breach by
the Optionee of any agreement between the Optionee and the Company; (ii) the conviction of, indictment for or plea of nolo contendere by the Optionee to a felony or a crime involving moral turpitude; or (iii) any material misconduct or
willful and deliberate non-performance (other than by reason of disability) by the Optionee of the Optionee’s duties to the Company. 
 (d) Other Termination. If the Optionee’s employment terminates for any reason other than the Optionee’s death, the Optionee’s disability or Cause, and unless otherwise determined by
the Committee, any portion of this Stock Option outstanding on such date may be exercised, to the extent exercisable on the date of termination, for a period of three months from the date of termination or until the Expiration Date, if earlier. Any
portion of this Stock Option that is not exercisable on the date of termination shall terminate immediately and be of no further force or effect. 
 The Committee’s determination of the reason for termination of the Optionee’s employment shall be conclusive and binding on the Optionee and his or her representatives or legatees. 

4. Effect of Certain Transactions. In the case of a Transaction (as defined in Section 3 of the Plan), this Stock Option
shall be subject to Section 3(c) of the Plan. In addition, notwithstanding anything herein to the contrary, in the event that this Stock Option is assumed in the sole discretion of the parties to a Transaction or is continued by the Company and
thereafter remains in effect following such Transaction, then this Stock Option shall be deemed vested and exercisable in full upon the date on which the Optionee’s employment is terminated (i) by the Company without Cause, or (ii) by
the Optionee due to any adverse modification of the duties, principal employment location or compensation of the Optionee, on or within 18 months after such Transaction. 
 5. Incorporation of Plan. Notwithstanding anything herein to the contrary, this Stock Option shall be subject to and governed by all the terms and conditions of the Plan,

  
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including the powers of the Committee set forth in Section 2(b) of the Plan. Capitalized terms in this Agreement shall have the meaning specified in the Plan, unless a different meaning is
specified herein. 
 6. Transferability. This Agreement is personal to the Optionee, is non-assignable and is not
transferable by Optionee in any manner, by operation of law or otherwise, other than by will or the laws of descent and distribution. This Stock Option is exercisable, during the Optionee’s lifetime, only by the Optionee, and thereafter, only
by the Optionee’s legal representative, beneficiary or legatee. The Optionee may designate a beneficiary by providing written notice of the name of such beneficiary to the Company, and may revoke or change such designation at any time by filing
written notice of revocation or change with the Company. 
 7. Tax Withholding. The Optionee shall, not later than the
date as of which the exercise of this Stock Option becomes a taxable event for Federal income tax purposes, pay to the Company or make arrangements satisfactory to the Committee for payment of any Federal, state, and local taxes required by law to
be withheld on account of such taxable event in accordance with Section 2 hereof. The Company shall have the authority to cause the minimum tax withholding obligation to be satisfied, in whole or in part, by withholding from shares of Stock to
be issued to the Optionee a number of shares of Stock with an aggregate Fair Market Value that would satisfy the minimum withholding amount due. 
 8. No Obligation to Continue Employment. Neither the Company nor any Subsidiary is obligated by or as a result of the Plan or this Agreement to continue the Optionee in employment and neither the
Plan nor this Agreement shall interfere in any way with the right of the Company or any Subsidiary to terminate the employment of the Optionee at any time. 
 9. Non-Competition, Non-Solicitation. As additional consideration for the issuance of this Stock Option to the Optionee, the Optionee hereby agrees that, if at anytime during and for a period of
one year after the termination of his or her employment with the Company no matter what the cause of that termination, he or she engages for any reason, directly or indirectly, whether as owner, part-owner, shareholder, member, partner, director,
officer, trustee, employee, agent or consultant, or in any other capacity, on behalf of himself or herself or any firm, corporation or other business organization other than the Company and its subsidiaries in any one or more of the following
activities: 
 (a) the development, marketing, solicitation, or selling of any product or service that is competitive with the
products or services of the Company, or products or services that the Company has under development or that are subject to active planning at any time during Optionee’s employment; 

(b) the use of any of the Company’s confidential or proprietary information, copyrights, patents or trade secrets which was acquired
by the Optionee as an employee of the Company and its subsidiaries; or 
 (c) any activity for the purpose of inducing,
encouraging, or arranging for the employment or engagement by anyone other than the Company and its subsidiaries of any employee, officer, director, agent, consultant, or sales representative of the Company and its

  
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subsidiaries or attempt to engage any of them in a manner which would deprive the Company and its subsidiaries of their services or place them in a conflict of interest with the Company and its
subsidiaries; 
 then (i) this Stock Option shall terminate effective on the date on which he or she first engages in such activity, unless
terminated sooner by operation of any other term or condition of this Agreement or the Plan, and (ii) all gain resulting from the exercise of all or any portion of this Stock Option shall become immediately due and payable by Optionee to the
Company. Optionee acknowledges and agrees that the activities set forth in this Section 9(a)-(c) are adverse to the Company’s interests, and that it would be inequitable for Optionee to benefit from the exercise of this Stock Option
should Optionee engage in any such activities during or within one year after termination of his or her employment with the Company. 
 The Optionee may be released from his or her obligations as stated above only if the Committee (or its duly appointed agent) determines in its sole discretion that such action is in the best interests of
the Company and its subsidiaries. 
 10. Notices. Notices hereunder shall be mailed or delivered to the Company at its
principal place of business and shall be mailed or delivered to the Optionee at the address on file with the Company or, in either case, at such other address as one party may subsequently furnish to the other party in writing. 

11. Amendment. Pursuant to Section 18 of the Plan, the Committee may at any time amend or cancel any outstanding portion of
this Stock Option, but no such action may be taken that adversely affects the Optionee’s rights under this Agreement without the Optionee’s consent. 
 12. Severability. If any provision(s) of this Agreement shall be determined to be illegal or unenforceable, such determination shall in no manner affect the legality or enforceability of any other
provision hereof. 
 13. Counterparts. For the convenience of the parties and to facilitate execution, this Agreement may
be executed in two or more counterparts, each of which shall be deemed an original, but all of which shall constitute one and the same document. 

  
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	ANSYS, Inc.
		
	By:	 	  

		 	Title:

 The foregoing Agreement is hereby accepted and
the terms and conditions thereof hereby agreed to by the undersigned. 
  

							
	Dated:	 	  
	 		 	  

		 		 		 	Optionee’s Signature
				
		 		 		 	Optionee’s name and address:
				
		 		 		 	  

				
		 		 		 	  

				
		 		 		 	  

  
 6Registration Rights Agreement

 Exhibit 4.3 
 REGISTRATION RIGHTS AGREEMENT 
 by 

Ally Financial Inc., 
 The Guarantors Party Hereto 
 and 

Barclays Capital Inc. 
 Citigroup Global Markets Inc. 
 J.P. Morgan Securities LLC 

Merrill Lynch, Pierce, Fenner & Smith Incorporated 
 as Representatives of the several Initial Purchasers 
 Dated as of
November 18, 2010 

 REGISTRATION RIGHTS AGREEMENT 

This Registration Rights Agreement (this “Agreement”) is made and entered into as of November 18, 2010, by and
among Ally Financial Inc., a Delaware corporation (the “Company”), the subsidiaries of the Company party hereto (the “Guarantors”) and Merrill Lynch, Pierce, Fenner & Smith Incorporated, Barclays Capital
Inc., J.P. Morgan Securities LLC and Citigroup Global Markets Inc. (collectively, the “Representatives”) as representatives of the several Initial Purchasers listed on Schedule A to the Purchase Agreement (as defined below),
relating to the Company’s issuance and sale to the Initial Purchasers of $1,000,000,000 aggregate principal amount of 6.250% senior guaranteed notes due 2017 of the Company (the “Notes”), to be issued pursuant to the terms of
the indenture, dated as of July 1, 1982 (the “Indenture”), between the Company and The Bank of New York Mellon (Successor Trustee to Morgan Guaranty Trust Company of New York), as trustee (in such capacity, the
“Trustee”). In connection with the offer and sale of the Notes, the Company and the Guarantors are executing this Agreement for the benefit of the holders from time to time of Transfer Restricted Securities (as defined below). The
execution and delivery of this Agreement is a condition set forth in Section 5.8 of the Purchase Agreement, dated November 15, 2010 (the “Purchase Agreement”), among the Company and the Representatives. 

The Notes will be fully and unconditionally guaranteed by the Guarantors (the “Guarantees” and, together with the Notes,
the “Securities”). 
 The parties hereby agree as follows: 

SECTION 1. Definitions. As used in this Agreement, the following capitalized terms shall have the following meanings: 

Additional Interest: As defined in Section 5 hereto. 

Additional Interest Payment Date: With respect to the Transfer Restricted Securities, each Interest Payment Date. 

Advice: As defined in Section 6(c) hereto. 
 Agreement: As defined in the preamble hereto. 
 Broker-Dealer: Any
broker or dealer registered under the Exchange Act. 
 Business Day: Any day other than a Saturday, Sunday or U.S.
federal holiday or a day on which banking institutions or trust companies located in New York, New York are authorized or obligated to be closed. 
 Closing Date: The date of this Agreement. 
 Commission: The United
States Securities and Exchange Commission. 
 Company: As defined in the preamble hereto. 

 Consummate: A registered Exchange Offer shall be deemed “Consummated” for
purposes of this Agreement upon the occurrence of (i) the filing and effectiveness under the Securities Act of an Exchange Offer Registration Statement relating to the Exchange Securities to be issued in such Exchange Offer, (ii) the
maintenance of such Registration Statement continuously effective and the keeping of such Exchange Offer open for a period not less than the minimum period required pursuant to Section 3(b) hereof, and (iii) the delivery by the Company to
the Registrar under the Indenture of Exchange Securities in the same aggregate principal amount as the aggregate principal amount of Transfer Restricted Securities that were tendered by Holders thereof pursuant to such Exchange Offer. 

Exchange Act: The Securities Exchange Act of 1934, as amended. 

Exchange Date: As defined in Section 3(a) hereto. 
 Exchange Offer: The registration by the Company under the Securities Act of Exchange Securities pursuant to a Registration Statement pursuant to which the Company offers the Holders of all
outstanding Transfer Restricted Securities the opportunity to exchange all such outstanding Transfer Restricted Securities held by such Holders for Exchange Securities in an aggregate principal amount equal to the aggregate principal amount of the
Transfer Restricted Securities tendered in such exchange offer by such Holders. 
 Exchange Offer Registration Statement:
The Registration Statement relating to an Exchange Offer, including the related Prospectus. 
 Exchange Securities:
Debt securities of the Company and guarantees by the Guarantors, in each case, identical in all material respects to the Securities they are being exchanged for and issued under the Indenture (except that the transfer restrictions shall be
modified or eliminated, as appropriate, and there shall be no accrual of Additional Interest ), to be issued to Holders in exchange for their Transfer Restricted Securities. 
 FINRA: Financial Industry Regulatory Authority, Inc. 
 Guarantees:
As defined in the preamble hereto. 
 Guarantors: As defined in the preamble hereto. 

Holder: As defined in Section 2(b) hereof. 
 Indenture: As defined in the preamble hereto. 
 Initial Purchasers:
As defined in the preamble hereto. 
 Interest Payment Date: As defined in the Indenture. 

Majority Holders: On any date, Holders of a majority of the principal amount of the Securities registered under a Registration
Statement. 
 Notes: As defined in the preamble hereto. 

  
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 Person: An individual, partnership, corporation, trust or unincorporated
organization, or a government or agency or political subdivision thereof. 
 Prospectus: The prospectus included in a
Registration Statement, as amended or supplemented by any prospectus supplement and by all other amendments thereto, including post-effective amendments, and all material incorporated by reference into such Prospectus. 

Purchase Agreement: As defined in the preamble hereto. 
 Registrar: The registrar under the Indenture. 
 Registration Default:
As defined in Section 5 hereof. 
 Registration Statement: Any registration statement of the Company relating to
(a) an offering of Exchange Securities pursuant to an Exchange Offer or (b) the registration for resale of Transfer Restricted Securities pursuant to a Shelf Registration Statement, that covers Securities or Exchange Securities, as
applicable, and which is filed pursuant to the provisions of this Agreement, in each case, including the Prospectus included therein, all amendments and supplements thereto (including post-effective amendments) and all exhibits and material
incorporated by reference therein. 
 Securities: As defined in the preamble hereto. 

Securities Act: The Securities Act of 1933, as amended. 
 Shelf Filing Deadline: As defined in Section 4(a) hereof. 
 Shelf
Registration Statement: As defined in Section 4(a) hereof. 
 Transfer Restricted Securities: The Securities;
provided that Securities shall cease to be Transfer Restricted Securities on the earliest to occur of (i) the date on which a Registration Statement with respect to such Securities has become effective under the Securities Act and such
Securities have been exchanged or disposed of pursuant to such Registration Statement or (ii) the date on which such Securities cease to be outstanding. 
 Trust Indenture Act: The Trust Indenture Act of 1939, as amended. 

Trustee: As defined in the preamble hereto. 
 Underwritten Registration or Underwritten Offering: A registration in which securities of the Company are sold to an underwriter for reoffering to the public. 

SECTION 2. Securities Subject to this Agreement. 
 (a) Transfer Restricted Securities. The securities entitled to the benefits of this Agreement are any Transfer Restricted Securities. 

  
 -3-

 (b) Holders of Transfer Restricted Securities. A Person is deemed to be a holder of
Transfer Restricted Securities (each, a “Holder”) whenever such Person (including any successors or assigns) owns any Transfer Restricted Securities. 
 SECTION 3. Registered Exchange Offer. 
 (a) Unless an Exchange Offer shall
not be permissible under applicable law or Commission policy (after the procedures set forth in Section 6(a) hereof have been complied with), or there are no Transfer Restricted Securities outstanding, each of the Company and the Guarantors
shall (i) use its commercially reasonable efforts to cause to be filed with the Commission a Registration Statement under the Securities Act relating to the Exchange Securities and the related Exchange Offer for the Transfer Restricted
Securities and (ii) use commercially reasonable efforts to cause such Exchange Offer Registration Statement to become effective, (iii) in connection with the foregoing, file (A) all pre-effective amendments to such Exchange Offer
Registration Statement as may be necessary in order to cause such Exchange Offer Registration Statement to become effective, (B) if applicable, a post-effective amendment to such Exchange Offer Registration Statement pursuant to Rule 430A under
the Securities Act and (C) cause all necessary filings in connection with the registration and qualification of the Exchange Securities registered pursuant to such Exchange Offer Registration Statement to be made under the state securities or
blue sky laws of such jurisdictions as are necessary to permit Consummation of such Exchange Offer, and (iv) upon the effectiveness of such Exchange Offer Registration Statement, commence the Exchange Offer with respect to the Securities
registered pursuant to such Exchange Offer Registration Statement. The Company shall use commercially reasonable efforts to Consummate such Exchange Offer with respect to the Securities registered pursuant to such Exchange Offer Registration
Statement not later than 270 days following the Closing Date (or if such 270th day is not a Business Day, the next succeeding Business Day) (the “Exchange Date”). Such Exchange Offer, if required pursuant to this Section 3(a),
shall be on the appropriate form permitting registration of the Exchange Securities to be offered in exchange for the Transfer Restricted Securities and to permit resales of such Transfer Restricted Securities held by Broker-Dealers as contemplated
by Section 3(c) hereof. 
 (b) If an Exchange Offer Registration Statement is required to be filed and declared effective
pursuant to Section 3(a) above, the Company and the Guarantors shall use commercially reasonable efforts to cause such Exchange Offer Registration Statement to be effective continuously and shall keep such Exchange Offer open for a period of
not less than the minimum period required under applicable federal and state securities laws to Consummate such Exchange Offer; provided, however, that in no event shall such period be less than 20 Business Days after the date notice of such
Exchange Offer is mailed to the Holders of Securities registered pursuant to such Exchange Offer Registration Statement. The Company shall cause such Exchange Offer to comply with all applicable federal and state securities laws. No securities other
than the Exchange Securities shall be included in such Exchange Offer Registration Statement. The Company shall use commercially reasonable efforts to cause such Exchange Offer to be Consummated by the Exchange Date. 

(c) The Company shall indicate in a “Plan of Distribution” section contained in the Prospectus forming a part of any Exchange
Offer Registration Statement that any Broker-Dealer 

  
 -4-

 
who holds any Transfer Restricted Securities to be registered pursuant to such Exchange Offer Registration Statement and that were acquired for its own account as a result of market-making
activities or other trading activities (other than any Transfer Restricted Securities acquired directly from the Company), may exchange such Transfer Restricted Securities pursuant to such Exchange Offer; however, such Broker-Dealer may be deemed to
be an “underwriter” within the meaning of the Securities Act and must, therefore, deliver a prospectus meeting the requirements of the Securities Act in connection with any resales of such Exchange Securities received by such Broker-Dealer
in such Exchange Offer, which prospectus delivery requirement may be satisfied by the delivery by such Broker-Dealer of the Prospectus contained in such Exchange Offer Registration Statement. Such “Plan of Distribution” section shall also
contain all other information with respect to such resales by Broker-Dealers that the Commission may require in order to permit such resales pursuant thereto, but such “Plan of Distribution” shall not name any such Broker-Dealer or
disclose the amount of Transfer Restricted Securities held by any such Broker-Dealer except to the extent required by the Commission as a result of a change in policy after the date of this Agreement. 

Each of the Company and the Guarantors shall use its commercially reasonable efforts to keep an Exchange Offer Registration Statement
continuously effective, supplemented and amended as required by the provisions of Section 6(c) hereof to the extent necessary to ensure that it is available for resales of Transfer Restricted Securities registered under such Exchange Offer
Registration Statement and acquired by Broker-Dealers for their own accounts as a result of market-making activities or other trading activities, and to ensure that it conforms with the requirements of this Agreement, the Securities Act and the
policies, rules and regulations of the Commission as announced from time to time, for a period ending on the earlier of (i) 180 days from the date on which such Exchange Offer Registration Statement is declared effective and (ii) the date
on which a Broker-Dealer is no longer required to deliver a prospectus in connection with market-making or other trading activities. 
 The Company shall provide sufficient copies of the latest version of such Prospectus to Broker-Dealers promptly upon request at any time during such 180-day (or shorter as provided in the foregoing
sentence) period in order to facilitate such resales. 
 SECTION 4. Shelf Registration. 

(a) Shelf Registration. If (i) the Company and the Guarantors are not required to file an Exchange Offer Registration
Statement with respect to the Transfer Restricted Securities or to consummate an Exchange Offer with respect to the Transfer Restricted Securities solely because such Exchange Offer is not permitted by applicable law or Commission policy (after the
procedures set forth in Section 6(a) hereof have been complied with), (ii) for any reason an Exchange Offer with respect to the Securities is not Consummated by the Exchange Date, or (iii) prior to the Exchange Date, with respect to
any Holder of Transfer Restricted Securities, such Holder notifies the Company that (1) such Holder is prohibited by applicable law or Commission policy from participating in such Exchange Offer, (2) such Holder may not resell such
Exchange Securities acquired by it in such Exchange Offer to the public without delivering a prospectus and that the Prospectus contained in such Exchange Offer Registration Statement is not appropriate or available for such resales by such Holder,
or (3) such Holder is a Broker-Dealer and holds Transfer Restricted Securities acquired directly from the Company or one of its affiliates, the Company and the Guarantors shall: 

(x) cause to be filed a shelf registration statement pursuant to Rule 415 under the Securities Act, which may be an
amendment to the Exchange Offer Registration Statement with respect to the Transfer Restricted Securities referenced above (in either event, a “Shelf Registration Statement”) on or prior to the 30th day after the Exchange Date (such
date, the “Shelf Filing Deadline”), which Shelf Registration Statement shall provide for resales of Transfer Restricted Securities the Holders of which shall have provided the information required pursuant to Section 4(b)
hereof; and 

  
 -5-

 (y) use their commercially reasonable efforts to cause such Shelf
Registration Statement to be declared effective by the Commission on or before the 60th day after the Shelf Filing Deadline (or if such 60th day is not a Business Day, the next succeeding Business Day). 

Each of the Company and the Guarantors shall use commercially reasonable efforts to keep such Shelf Registration Statement continuously
effective, supplemented and amended as required by the provisions of Sections 6(b) and (c) hereof to the extent necessary to ensure that it is available for resales of Transfer Restricted Securities registered pursuant to such Shelf
Registration Statement by the Holders of such Securities entitled to the benefit of this Section 4(a), and to ensure that it conforms with the requirements of this Agreement, the Securities Act and the policies, rules and regulations of the
Commission as announced from time to time, for a period of one year from the date on which such Shelf Registration Statement is declared effective by the Commission or such shorter period that will terminate when all the Transfer Restricted
Securities covered by such Shelf Registration Statement have been sold pursuant to such Shelf Registration Statement; provided that the Company may for a period of up to 60 days in any three-month period, not to exceed 90 days in any calendar
year determine that such Shelf Registration Statement is not usable under certain circumstances relating to corporate developments, public filings with the Commission and similar events, and suspend the use of the prospectus that is part of such
Shelf Registration Statement. 
 It is agreed that if a Shelf Registration Statement is required to be filed and effective
pursuant to this Section 4 and is not so filed and effective after the Shelf Filing Deadline, the only remedy to the Holders of Securities to be registered under such Shelf Registration Statement after such Shelf Filing Deadline will be
Additional Interest as set forth in Section 5 hereof. 
 (b) Provision by Holders of Certain Information in Connection
with a Shelf Registration Statement. No Holder of Transfer Restricted Securities may include any of such Transfer Restricted Securities in any Shelf Registration Statement pursuant to this Agreement unless and until such Holder furnishes to the
Company in writing, within 20 Business Days after receipt of a request therefor, such information as the Company may reasonably request for use in connection with any Shelf Registration Statement or Prospectus or preliminary Prospectus included
therein. Each Holder as to which any Shelf Registration Statement is being effected agrees to furnish promptly to the Company all information required to be disclosed in order to make the information previously furnished to the Company by such
Holder not materially misleading. 

  
 -6-

 SECTION 5. Additional Interest. If (i) an Exchange Offer has not been
Consummated on or prior to the Exchange Date; (ii) any Shelf Registration Statement, if required hereby, has not been declared effective by the Commission on or before the date on which such Shelf Registration Statement is required to be
declared effective by the Commission pursuant to Section 4(a)(y) or (iii) any Registration Statement required by this Agreement has been declared effective but ceases to be effective at any time at which it is required to be effective
under this Agreement (each such event referred to in clauses (i) through (iii), a “Registration Default”), the Company hereby agrees that the interest rate borne by the Transfer Restricted Securities shall be increased by
0.25% per annum (the “Additional Interest”) from and including the date on which such Registration Default has occurred to but excluding the date on which all Registration Defaults have been cured. All accrued Additional
Interest shall be paid in cash on each Additional Interest Payment Date. Upon the cure of all Registration Defaults relating to the Transfer Restricted Securities, the interest rate borne by the relevant Transfer Restricted Securities will be
reduced to the original interest rate borne by such Transfer Restricted Securities; provided, however, that, if after any such reduction in interest rate, a different Registration Default occurs, the interest rate borne by such Transfer
Restricted Securities shall again be increased pursuant to the foregoing provisions. 
 SECTION 6. Registration
Procedures. 
 (a) Exchange Offer Registration Statement. In connection with an Exchange Offer, if required pursuant
to Section 3(a) hereof, the Company and the Guarantors shall comply with all of the provisions of Section 6(c) hereof, shall use their commercially reasonable efforts to effect such exchange to permit the sale of the Transfer Restricted
Securities being sold in accordance with the intended method or methods of distribution thereof, and shall comply with all of the following provisions: 
 (i) If in the reasonable opinion of counsel to the Company there is a question as to whether an Exchange Offer is permitted by applicable law, each of the Company and the Guarantors hereby agrees to seek
a no-action letter or other favorable decision from the Commission allowing the Company and the Guarantors to Consummate an Exchange Offer for such Transfer Restricted Securities. Each of the Company and the Guarantors hereby agrees to pursue the
issuance of such a decision to the Commission staff level but shall not be required to take commercially unreasonable action to effect a change of Commission policy. Each of the Company and the Guarantors hereby agrees, however, to
(A) participate in telephonic conferences with the Commission, (B) deliver to the Commission staff an analysis prepared by counsel to the Company setting forth the legal bases, if any, upon which such counsel has concluded that such an
Exchange Offer should be permitted and (C) diligently pursue a favorable resolution by the Commission staff of such submission. 
 (ii) As a condition to its participation in an Exchange Offer pursuant to the terms of this Agreement, each Holder of Transfer Restricted Securities shall furnish, upon the request of the Company, prior
to the Consummation thereof, a written representation to the Company (which may be contained in the letter of transmittal contemplated by such Exchange Offer Registration Statement) to the effect that (A) it is not an affiliate of

  
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the Company, (B) it is not engaged in, and does not intend to engage in, and has no arrangement or understanding with any Person to participate in, a distribution of the Exchange Securities
to be issued in such Exchange Offer and (C) it is acquiring the Exchange Securities to be issued in such Exchange Offer in its ordinary course of business. In addition, all such Holders of Transfer Restricted Securities shall otherwise
cooperate in the Company’s preparations for the Exchange Offer. Each Holder hereby acknowledges and agrees that any Broker-Dealer and any such Holder using the Exchange Offer to participate in a distribution of the securities to be acquired in
the Exchange Offer (1) could not under Commission policy as in effect on the date of this Agreement rely on the position of the Commission enunciated in Morgan Stanley and Co., Inc. (available June 5, 1991) and Exxon Capital
Holdings Corporation (available May 13, 1988), as interpreted in the Commission’s letter to Shearman & Sterling dated July 2, 1993, and similar no-action letters (which may include any no-action letter obtained pursuant
to clause (i) above), and (2) must comply with the registration and prospectus delivery requirements of the Securities Act in connection with a secondary resale transaction and that such a secondary resale transaction should be covered by
an effective registration statement containing the selling security holder information required by Item 507 or 508, as applicable, of Regulation S-K if the resales are of Exchange Securities obtained by such Holder in exchange for Transfer
Restricted Securities acquired by such Holder directly from the Company. 
 (b) Shelf Registration Statement. If required
pursuant to Section 4, in connection with a Shelf Registration Statement, each of the Company and the Guarantors shall comply with all the provisions of Section 6(c) hereof and shall use commercially reasonable efforts to effect such
registration to permit the sale of Transfer Restricted Securities sold in accordance with the intended method or methods of distribution thereof, and pursuant thereto each of the Company and the Guarantors will prepare and file with the Commission a
Shelf Registration Statement relating to the registration on any appropriate form under the Securities Act within the period specified in Section 4(a)(x) hereof, which form shall be available for the sale of the Transfer Restricted Securities
in accordance with the intended method or methods of distribution thereof. 
 (c) General Provisions. In connection with
any Registration Statement and any Prospectus required by this Agreement to permit the sale or resale of Transfer Restricted Securities (including, without limitation, any Registration Statement and the related Prospectus required to permit resales
of Transfer Restricted Securities by Broker-Dealers), each of the Company and the Guarantors shall: 
 (i) use
commercially reasonable efforts to keep such Registration Statement continuously effective and include or incorporate by reference therein all requisite financial statements (including, if required by the Securities Act or any regulation thereunder,
financial statements of the Guarantors for the period specified in Section 3 or 4 hereof, as applicable) upon the occurrence of any event that would cause any such Registration Statement or the Prospectus contained therein (A) to contain a
material misstatement or omission or (B) not to be effective and usable for resale of Transfer Restricted Securities during the period required by this Agreement, the Company shall file promptly an appropriate amendment to such Registration
Statement, in the case of clause (A), correcting 

  
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any such misstatement or omission, and, in the case of either clause (A) or (B), use commercially reasonable efforts to cause such amendment to be declared effective and such Registration
Statement and the related Prospectus to become usable for their intended purpose(s) as soon as practicable thereafter; 
 (ii) prepare and file with the Commission such amendments and post-effective amendments to the applicable Registration Statement as may be necessary to keep such Registration Statement effective for the
applicable period set forth in Section 3 or 4 hereof, as applicable, or such shorter period as will terminate when all Transfer Restricted Securities covered by such Registration Statement have been sold pursuant to such Registration Statement;
cause the Prospectus to be supplemented by any required Prospectus supplement, and as so supplemented to be filed pursuant to Rule 424 under the Securities Act, and to comply fully with the applicable provisions of Rules 424 and 430A under the
Securities Act in a timely manner; and comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such Registration Statement during the applicable period in accordance with the intended method or
methods of distribution by the sellers thereof set forth in such Registration Statement or supplement to the Prospectus; 
 (iii) advise the underwriter(s), if any, and selling Holders of securities covered by such Registration Statement promptly and, if requested by such Persons, to confirm such advice in writing,
(A) when the Prospectus or any Prospectus supplement or post-effective amendment has been filed, and, with respect to any Registration Statement or any post-effective amendment thereto, when the same has become effective, (B) of any
request by the Commission for amendments to such Registration Statement or amendments or supplements to the Prospectus or for additional information relating thereto, (C) of the issuance by the Commission of any stop order suspending the
effectiveness of such Registration Statement under the Securities Act or of the suspension by any state securities commission of the qualification of Transfer Restricted Securities for offering or sale in any jurisdiction, or the initiation of any
proceeding for any of the preceding purposes, (D) of the existence of any fact or the happening of any event that makes any statement of a material fact made in such Registration Statement, the related Prospectus, any amendment or supplement
thereto, or any document incorporated by reference therein untrue, or that requires the making of any additions to or changes in the Registration Statement or the Prospectus in order to make the statements therein not misleading. If at any time the
Commission shall issue any stop order suspending the effectiveness of any Registration Statement, or any state securities commission or other regulatory authority shall issue an order suspending the qualification or exemption from qualification of
the Transfer Restricted Securities under state securities or blue sky laws, each of the Company and the Guarantors shall use its commercially reasonable efforts to obtain the withdrawal or lifting of such order at the earliest possible time;

 (iv) furnish without charge to the Trustee, each selling Holder named in any Registration Statement, and each
of the underwriter(s), if any, before filing with the Commission, copies of any Registration Statement or any Prospectus included therein or any amendments or supplements to any such Registration Statement or Prospectus

  
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(including all documents incorporated by reference after the initial filing of such Registration Statement), which documents will be subject to the review and comment of the Trustee, such Holders
and underwriter(s) in connection with such sale, if any, for a period of at least five Business Days, and the Company will not file any such Registration Statement or Prospectus or any amendment or supplement to any such Registration Statement or
Prospectus (including all such documents incorporated by reference) to which the Trustee or the Majority Holders or the underwriter(s), if any, shall reasonably object in writing within five Business Days after the receipt thereof (such objection to
be deemed timely made upon confirmation of telecopy transmission within such period). The objection of the Trustee or the Majority Holders or underwriter(s), if any, shall be deemed to be reasonable if such Registration Statement, amendment,
Prospectus or supplement, as applicable, as proposed to be filed, contains a material misstatement or omission; 

(v) make available at reasonable times for inspection by the managing underwriter(s), if any, participating in any
disposition pursuant to such Registration Statement and any attorney or accountant retained by the Majority Holders, or any of the underwriter(s), all financial and other records, pertinent corporate documents and properties of each of the Company
and the Guarantors and cause the Company’s and the Guarantors’ officers, directors and employees to supply all information reasonably requested by any such Holder, underwriter, attorney or accountant in connection with such Registration
Statement or any post-effective amendment thereto subsequent to the filing thereof and prior to its effectiveness and to participate in meetings with investors to the extent requested by the managing underwriter(s), if any; provided, however,
that each such party shall be required to maintain in confidence and not to disclose to any other Person any information or records reasonably designated by the Company or any of the Guarantors as being confidential, until such time as (A) such
information becomes a matter of public record (whether by virtue of its inclusion in such Registration Statement or otherwise, except as a result of a breach of this or any other obligation of confidentiality to the Company or any of the
Guarantors), (B) such Person shall be required to disclose such information pursuant to a subpoena or order of any court or other governmental agency or body having jurisdiction over the matter (subject to the requirements of such order, and
only after such Person shall have given the Company and the Guarantors prompt prior written notice of such requirement), or (C) such information is required to be set forth in such Registration Statement or the Prospectus included therein or an
amendment or supplement thereto in order that such Registration Statement, prospectus, amendment or supplement, as applicable, complies with applicable requirements of the federal securities laws and the rules and regulations of the Commission and
does not contain an untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading. 

(vi) if requested by any Holders named in such Registration Statement or the underwriter(s), if any, promptly incorporate
in any Registration Statement or Prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such Holders and underwriter(s), if any, may reasonably request to have included therein if such information is
required by the rules and regulations of the Commission, including, 

  
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without limitation, information relating to the “Plan of Distribution” of the Transfer Restricted Securities covered by the Registration Statement, information with respect to the
principal amount of Transfer Restricted Securities being sold to such underwriter(s), the purchase price being paid therefor and any other terms of the offering of Transfer Restricted Securities to be sold in such offering; and make all required
filings of such prospectus supplement or post-effective amendment as soon as practicable after the Company is notified of the matters to be incorporated in such prospectus supplement or post-effective amendment; 

(vii) cause the Transfer Restricted Securities covered by the Registration Statement to be rated, if not then rated, with
the appropriate rating agencies, if so requested by the Majority Holders or by the underwriter(s), if any; 

(viii) furnish to the Trustee, each selling Holder and each of the underwriter(s), if any, without charge, at least one
copy of the applicable Registration Statement, as first filed with the Commission, and of each amendment thereto, including financial statements and schedules, all documents incorporated by reference therein and all exhibits (including exhibits
incorporated therein by reference) unless such documents or exhibits are available on the Commission’s Electronic Data Gathering Analysis and Retrieval system or the Interactive Data Electronic Applications system; 

(ix) deliver to each selling Holder and each of the underwriter(s), if any, without charge, as many copies of the
Prospectus (including each preliminary prospectus) and any amendment or supplement thereto as such Persons reasonably may request; each of the Company and the Guarantors hereby consents to the use of the Prospectus and any amendment or supplement
thereto by each such selling Holder and each of the underwriter(s), if any, in connection with the offering and the sale of the Transfer Restricted Securities covered by the Prospectus or any amendment or supplement thereto; 

(x) enter into such customary agreements (including an underwriting agreement), and make such representations and
warranties, and take all such other actions in connection therewith in order to expedite or facilitate the disposition of the Transfer Restricted Securities pursuant to any Registration Statement contemplated by this Agreement, all to such extent as
may be reasonably requested by the Trustee, any Holder of Transfer Restricted Securities covered by a Registration Statement or underwriter, if any, in connection with any sale or resale pursuant to any Registration Statement contemplated by this
Agreement; and whether or not an underwriting agreement is entered into and whether or not the registration is an Underwritten Registration, each of the Company and the Guarantors shall: 

(A) furnish to the Trustee, each selling Holder and each underwriter, if any, in such substance and scope as they may
reasonably request and as are customarily made by issuers to underwriters in primary underwritten offerings, upon the date of the Consummation of the applicable Exchange Offer or, if applicable, the effectiveness of the applicable Shelf Registration
Statement: 

  
 -11-

 (1) an opinion, dated the date of Consummation of such Exchange Offer or
the date of effectiveness of such Shelf Registration Statement, as the case may be, of counsel for the Company and the Guarantors, covering such matters as are customarily covered in opinions requested in an underwritten offering and such other
matters as such parties may reasonably request, and in any event including a statement to the effect that such counsel has participated in conferences with officers and other representatives of the Company and the Guarantors, representatives of the
independent public accountants for the Company and the Guarantors, representatives of the underwriter(s), if any, and counsel to the underwriter(s), if any, in connection with the preparation of such Registration Statement and the related Prospectus
and have considered the matters required to be stated therein and the statements contained therein, although such counsel has not independently verified the accuracy, completeness or fairness of such statements; and that such counsel advises that,
on the basis of the foregoing, no facts came to such counsel’s attention that caused such counsel to believe that the applicable Registration Statement, at the time such Registration Statement or any post-effective amendment thereto became
effective, and, in the case of an Exchange Offer Registration Statement, as of the date of Consummation, contained an untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary to make the
statements therein not misleading, or that the Prospectus contained in such Registration Statement as of its date and, in the case of the opinion dated the date of Consummation of such Exchange Offer, as of the date of Consummation, contained an
untrue statement of a material fact or omitted to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading. Without limiting the foregoing, such counsel may
state further that such counsel assumes no responsibility for, and has not independently verified, the accuracy, completeness or fairness of the financial statements, notes and schedules and other financial data included in any Registration
Statement contemplated by this Agreement or the related Prospectus; and 
 (2) a customary comfort letter, dated
the date of effectiveness of any Shelf Registration Statement, from the Company’s independent accountants, in the customary form and covering matters of the type customarily requested to be covered in comfort letters by underwriters in
connection with primary underwritten offerings, and covering or affirming the matters set forth in the comfort letters delivered pursuant to Section 5.7 of the Purchase Agreement, without exception; and 

(B) deliver such other documents and certificates as may be reasonably requested by such parties to evidence compliance
with Section 6(c)(x)(A) hereof and with any customary conditions contained in the underwriting agreement or other agreement entered into by the Company or any of the Guarantors pursuant to this Section 6(c)(x), if any. 

  
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 If at any time prior to the Consummation of any offering, the
representations and warranties of the Company and the Guarantors contemplated in 6(c)(x)(A)(1) hereof cease to be true and correct, the Company and the Guarantors shall so advise the underwriter(s), if any, and each Holder of Securities covered by
such Registration Statement promptly and, if requested by such Persons, shall confirm such advice in writing; 

(xi) prior to any public offering of any Transfer Restricted Securities, cooperate with the selling Holders, the
underwriter(s), if any, and their respective counsel in connection with the registration and qualification of the Transfer Restricted Securities under the state securities or blue sky laws of such jurisdictions as the selling Holders or
underwriter(s), if any, may reasonably request and do any and all other acts or things necessary or advisable to enable the disposition in such jurisdictions of the Transfer Restricted Securities covered by such Shelf Registration Statement;
provided, however, that none of the Company nor any Guarantor shall be required to register or qualify as a foreign corporation where it is not then so qualified or to take any action that would subject it to the service of process in suits
or to taxation, other than as to matters and transactions relating to such Registration Statement, in any jurisdiction where it is not then so subject; 
 (xii) shall issue, upon the request of any Holder of Transfer Restricted Securities covered by a Shelf Registration Statement, Exchange Securities of having an aggregate principal amount equal to the
aggregate principal amount of such Transfer Restricted Securities surrendered to the Company by such Holder in exchange therefor or being sold by such Holder; such Exchange Securities to be registered in the name of such Holder or in the name of the
purchaser(s) of such Securities, as the case may be; in return, the Transfer Restricted Securities covered by such Shelf Registration Statement held by such Holder shall be surrendered to the Company for cancellation; 

(xiii) cooperate with the selling Holders of the Securities covered by a Registration Statement and the underwriter(s), if
any, to facilitate the timely preparation and delivery of “global notes” representing the Transfer Restricted Securities to be sold and not bearing any restrictive legends; and enable the Transfer Restricted Securities to be in such
denominations and registered in such names as the Holders of the Securities covered by a Registration Statement or the underwriter(s), if any, may request at least two Business Days prior to any sale of such Transfer Restricted Securities made by
such Holders or underwriter(s); 
 (xiv) use commercially reasonable efforts to cause the Transfer Restricted
Securities covered by a Registration Statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the seller or sellers thereof or the underwriter(s), if any, to consummate the
disposition of such Transfer Restricted Securities, subject to the proviso contained in Section 6(c)(xi) hereof; 
 (xv) if any fact or event contemplated by Section 6(c)(iii)(D) hereof shall exist or have occurred, prepare a supplement or post-effective amendment to any Registration

  
 -13-

 
Statement or related Prospectus or any document incorporated therein by reference or file any other required document so that, as thereafter delivered to the purchasers of Transfer Restricted
Securities covered by such Registration Statement, the Prospectus will not contain an untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein, in the light of the circumstances under
which they were made, not misleading; 
 (xvi) provide a CUSIP number for all Securities not later than the
effective date of the Registration Statement covering such Securities and provide the Trustee under the Indenture with printed certificates for such Securities which are in a form eligible for deposit with The Depository Trust Company and take all
other action necessary to ensure that all such Securities are eligible for deposit with The Depository Trust Company; 
 (xvii) cooperate and assist in any filings required to be made with FINRA and in the performance of any due diligence investigation by any underwriter (including any “qualified independent
underwriter”) that is required to be retained in accordance with the rules and regulations of FINRA; 

(xviii) otherwise use its commercially reasonable efforts to comply with all applicable rules and regulations of the
Commission, and make generally available to its security holders, as soon as practicable, a consolidated earnings statement meeting the requirements of Rule 158 under the Securities Act (which need not be audited) for the twelve-month period
(A) commencing at the end of any fiscal quarter in which any Transfer Restricted Securities are sold to underwriters in a firm commitment or best efforts Underwritten Offering or (B) if not sold to underwriters in such an offering,
beginning with the first month of the Company’s first fiscal quarter commencing after the effective date of a Registration Statement; 
 (xix) cause the Indenture to be qualified under the Trust Indenture Act not later than the effective date of the first Registration Statement required by this Agreement, and, in connection therewith,
cooperate with the Trustee and the Holders of Securities to effect such changes to the Indenture as may be required for such Indenture to be so qualified in accordance with the terms of the Trust Indenture Act; and to execute and use its best
efforts to cause the Trustee to execute, all documents that may be required to effect such changes and all other forms and documents required to be filed with the Commission to enable such Indenture to be so qualified in a timely manner; and

 (xx) provide promptly to each Holder upon written request each document filed with the Commission pursuant to
the requirements of Section 13 and Section 15 of the Exchange Act. 
 Each Holder agrees by acquisition of any
Transfer Restricted Securities that, upon receipt of any notice from the Company of the existence of any fact of the kind described in Section 6(c)(iii)(D) hereof, such Holder will forthwith discontinue disposition of such Transfer Restricted
Securities pursuant to the applicable Registration Statement until such Holder’s receipt of the copies of the supplemented or amended Prospectus contemplated by Section 6(c)(xv) hereof, or until it is advised in writing (the
“Advice”) by the Company that the use of the 

  
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Prospectus may be resumed, and has received copies of any additional or supplemental filings that are incorporated by reference in the Prospectus. If so directed by the Company, each applicable
Holder will deliver to the Company (at the Company’s expense) all copies, other than permanent file copies then in such Holder’s possession, of the Prospectus covering such Transfer Restricted Securities that was current at the time of
receipt of such notice. In the event the Company shall give any such notice, the time period regarding the effectiveness of such Registration Statement set forth in Section 3 or 4 hereof, as applicable, shall be extended by the number of days
during the period from and including the date of the giving of such notice pursuant to Section 6(c)(iii)(D) hereof to and including the date when each selling Holder covered by such Registration Statement shall have received the copies of the
supplemented or amended Prospectus contemplated by Section 6(c)(xv) hereof or shall have received the Advice; provided, however, that no such extension shall be taken into account in determining whether Additional Interest is due
pursuant to Section 5 hereof or the amount of such Additional Interest with respect to the Securities covered by such Registration Statement, it being agreed that the Company’s option to suspend use of a Registration Statement pursuant to
this paragraph shall be treated as a Registration Default for purposes of Section 5 hereof in the case of an Exchange Offer Registration Statement required pursuant to Section 3 hereof, if such suspension exceeds an aggregate of 30 days in
any three-month period or an aggregate of 60 days in any six-month period, and the case of a Shelf Registration Statement required pursuant to Section 4, if such suspension exceeds an aggregate of 60 days in any three month period or an
aggregate of 90 days in any calendar year. 
 (d) Underwritten Offerings. Notwithstanding anything to the contrary
contained in this Agreement, the Company shall not be obligated to undertake an Underwritten Offering pursuant to a Shelf Registration Statement within six (6) months following any Underwritten Offering (whether or not pursuant to a Shelf
Registration Statement). 
 SECTION 7. Registration Expenses. 

(a) All expenses incident to the Company’s and the Guarantors’ performance of or compliance with this Agreement will be borne by
the Company and the Guarantors, jointly and severally, regardless of whether a Registration Statement becomes effective, including, without limitation: (i) all registration and filing fees and expenses (including any filings made by any Holder
with FINRA (and, if applicable, the fees and expenses of any “qualified independent underwriter” and its counsel that may be required by the rules and regulations of FINRA) and all rating agency fees); (ii) all fees and expenses of
compliance with federal securities and state securities or blue sky laws; (iii) all expenses of printing (including printing certificates for the Exchange Securities to be issued in the Exchange Offer and printing of Prospectuses), messenger
and delivery services and telephone; (iv) all fees and disbursements of counsel for the Company, the Guarantors, the Trustee and any Holders; and (v) all fees and disbursements of independent certified public accountants of the Company and
the Guarantors (including the expenses of any special audit and comfort letters required by or incident to such performance). 

Each of the Company and the Guarantors will, in any event, bear its internal expenses (including, without limitation, all salaries and
expenses of its officers and employees performing legal or accounting duties), the expenses of any annual audit and the fees and expenses of any Person, including special experts, retained by the Company or the Guarantors. 

  
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 (b) In connection with a Shelf Registration Statement, the Company and the Guarantors,
jointly and severally, will reimburse the Holders of Transfer Restricted Securities being resold pursuant to the “Plan of Distribution” contained in such Shelf Registration Statement for the reasonable fees and disbursements of not more
than one counsel as may be chosen by the vote of the Holders of the majority in aggregate principal amount of all Transfer Restricted Securities for whose benefit such Shelf Registration Statement is being prepared. 

SECTION 8. Indemnification. 
 (a) Each of the Company and the Guarantors, jointly and severally, agrees to indemnify and hold harmless each Holder, its directors, officers, and each person, if any, who controls any Holder within the
meaning of the Securities Act and the Exchange Act against any loss, claim, damage, liability or expense, as incurred, to which such Holder, director, officer or controlling person may become subject, under the Securities Act, the Exchange Act or
other U.S. federal or state statutory law or regulation, or at common law or otherwise (including in settlement of any litigation, if such settlement is effected with the prior written consent of the Company), insofar as such loss, claim, damage,
liability or expense (or actions in respect thereof as contemplated below) arises out of or is based upon any untrue statement or alleged untrue statement of a material fact contained in any Registration Statement or Prospectus (or any amendment or
supplement thereto), or the omission or alleged omission therefrom of a material fact necessary in order to make the statements therein not misleading; and to reimburse each Holder and each such director, officer or controlling person for any and
all expenses (including the fees and disbursements of counsel) as such expenses are reasonably incurred by such Holder or such director, officer or controlling person in connection with investigating, defending, settling, compromising or paying any
such loss, claim, damage, liability, expense or action; provided, however, that the Company and the Guarantors will not be liable in any case to the extent such loss, claim, damage, liability or expense arises out of or is based upon
any untrue statement or alleged untrue statement or omission or alleged omission made in reliance upon and in conformity with written information furnished to the Company by such Holder expressly for use in any Registration Statement or Prospectus
(or any amendment or supplement thereto). The indemnity agreement set forth in this Section 8(a) shall be in addition to any liabilities that the Company and the Guarantors may otherwise have. 

(b) Each Holder agrees, severally and not jointly, to indemnify and hold harmless the Company, each Guarantor, each of their respective
directors, officers who sign a Registration Statement and each person, if any, who controls the Company or any Guarantor within the meaning of the Securities Act or the Exchange Act, against any loss, claim, damage, liability or expense, as
incurred, to which the Company, any Guarantor or any such director, officer or controlling person may become subject, under the Securities Act, the Exchange Act, or other U.S. federal or state statutory law or regulation, or at common law or
otherwise (including in settlement of any litigation, if such settlement is effected with the written consent of the Majority Holders), insofar as such loss, claim, damage, liability or expense (or actions in respect thereof as contemplated below)
arises out of or is based upon any untrue statement or alleged untrue statement of a material fact contained in any Registration Statement or Prospectus (or any amendment or supplement thereto), or the omission or alleged omission therefrom of a
material fact necessary in order to make the statements therein, not misleading, in each case to the extent, but only to the 

  
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extent, that such untrue statement or alleged untrue statement or omission or alleged omission was made in any Registration Statement or Prospectus (or any amendment or supplement thereto), in
reliance upon and in conformity with written information furnished to the Company by such Holder expressly for use therein; and to reimburse the Company, any Guarantor and each such director and officer or controlling person for any and all expenses
(including the fees and disbursements of counsel) as such expenses are reasonably incurred by the Company, any Guarantor or such director, officer, or controlling person in connection with investigating, defending, settling, compromising or paying
any such loss, claim, damage, liability, expense or action. The indemnity agreement set forth in this Section 8(b) shall be in addition to any liabilities that each Holder may otherwise have. 

(c) Promptly after receipt by an indemnified party under this Section 8 of notice of the commencement of any action, such
indemnified party will, if a claim in respect thereof is to be made against an indemnifying party under this Section 8 notify the indemnifying party in writing of the commencement thereof, but the omission so to notify the indemnifying party
will not relieve it from any liability which it may have to any indemnified party for contribution or otherwise other than under the indemnity agreement contained in this Section 8 or from any liability it may have under this Section 8 to
the extent it is not materially prejudiced as a proximate result of such failure. In case any such action is brought against any indemnified party and such indemnified party seeks or intends to seek indemnity from an indemnifying party, the
indemnifying party will be entitled to participate in and, to the extent that it shall elect, jointly with all other indemnifying parties similarly notified, by written notice delivered to the indemnified party promptly after receiving the aforesaid
notice from such indemnified party, to assume the defense thereof with counsel reasonably satisfactory to such indemnified party; provided, however, if the defendants in any such action include both the indemnified party and the
indemnifying party and the indemnified party shall have reasonably concluded that a conflict may arise between the positions of the indemnifying party and the indemnified party in conducting the defense of any such action or that there may be legal
defenses available to it and/or other indemnified parties which are different from or additional to those available to the indemnifying party, the indemnified party or parties shall have the right to select separate counsel to assume such legal
defenses and to otherwise participate in the defense of such action on behalf of such indemnified party or parties. Upon receipt of notice from the indemnifying party to such indemnified party of such indemnifying party’s election so to assume
the defense of such action and approval by the indemnified party of counsel, the indemnifying party will not be liable to such indemnified party under this Section 8 for any legal or other expenses subsequently incurred by such indemnified
party in connection with the defense thereof unless (i) the indemnified party shall have employed separate counsel in accordance with the proviso to the next preceding sentence (it being understood, however, that the indemnifying party shall
not be liable for the expenses of more than one separate counsel (together with local counsel), reasonably approved by the indemnifying party, representing the indemnified parties who are parties to such action) or (ii) the indemnifying party
shall not have employed counsel satisfactory to the indemnified party to represent the indemnified party within a reasonable time after notice of commencement of the action, in each of which cases the fees and expenses of counsel shall be at the
expense of the indemnifying party. 
 (d) The indemnifying party under this Section 8 shall not be liable for any
settlement of any proceeding effected without its written consent, but if settled with such consent or if there 

  
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be a final judgment for the plaintiff, the indemnifying party agrees to indemnify the indemnified party against any loss, claim, damage, liability or expense by reason of such settlement or
judgment. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement, compromise or consent to the entry of judgment in any pending or threatened action, suit or proceeding in respect of which any
indemnified party is or could have been a party and indemnity was or could have been sought hereunder by such indemnified party, unless such settlement, compromise or consent (i) includes an unconditional release of such indemnified party from
all liability on claims that are the subject matter of such action, suit or proceeding and (ii) does not include any statements as to or any findings of fault, culpability or failure to act by or on behalf of any indemnified party. 

(e) If the indemnification provided for in Section 8 hereof is for any reason held to be unavailable to or otherwise insufficient to
hold harmless an indemnified party in respect of any losses, claims, damages, liabilities or expenses referred to therein, then each indemnifying party shall contribute to the aggregate amount paid or payable by such indemnified party, as incurred,
as a result of any losses, claims, damages, liabilities or expenses referred to therein, (i) in such proportion as is appropriate to reflect the relative benefits received by the Company and the Guarantors, on the one hand, and the Holders, on
the other hand, or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, in such proportion as is appropriate to reflect not only the relative benefits referred to in clause (i) above but also the
relative fault of the Company and the Guarantors, on the one hand, and the Holders, on the other hand, in connection with the statements or omissions or inaccuracies in the representations and warranties herein which resulted in such losses, claims,
damages, liabilities or expenses, as well as any other relevant equitable considerations. The relative benefits received by the Company and the Guarantors, on the one hand, and the Holders, on the other hand, shall be determined in a manner as is
appropriate to reflect the relative economic benefits of the Company and the Guarantors, on the one hand, and the Holders, on the other hand, in the matters contemplated by this Agreement. The relative fault of the Company and the Guarantors, on the
one hand, and the Holders, on the other hand, shall be determined by reference to, among other things, whether any such untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact or any such
inaccurate or alleged inaccurate representation or warranty relates to information supplied by the Company and the Guarantors, on the one hand, or the Holders, on the other hand, and the parties’ relative intent, knowledge, access to
information and opportunity to correct or prevent such statement or omission or inaccuracy. 
 (f) The amount paid or payable by
a party as a result of the losses, claims, damages, liabilities and expenses referred to above shall be deemed to include, subject to the limitations set forth in Section 8 hereof, any legal or other fees or expenses reasonably incurred by such
party in connection with investigating or defending any action or claim. The provisions set forth in Section 8 hereof with respect to notice of commencement of any action shall apply if a claim for contribution is to be made under
Section 8(e) above; provided, however, that no additional notice shall be required with respect to any action for which notice has been given under Section 8 hereof for purposes of indemnification. The Company, the Guarantors
and each Holder agree that it would not be just and equitable if contribution pursuant to Section 8(e) were determined by pro rata allocation (even if the Holders were treated as one entity for such purpose) or by any other method of allocation
which does not take account of the equitable considerations referred to in Section 8(e). 

  
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 (g) Notwithstanding the provisions of Section 8(e), no Holder shall be required to
contribute any amount in excess of the dollar amount by which the total net profit received by such Holder from the sale of any Securities exceeds the amount of any damages which such Holder has otherwise been required to pay by reason of such
untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11 of the Securities Act) shall be entitled to contribution from any person who was not guilty
of such fraudulent misrepresentation. The Holders’ obligations to contribute pursuant to Section 8(e) above are several, and not joint, on a pro rata basis based on such Holder’s aggregate principal amount of Transfer Restricted
Securities included in such Registration Statement or Prospectus. For purposes of Section 8(e) above, each director, officer and employee of a Holder and each person, if any, who controls a Holder within the meaning of the Securities Act and
the Exchange Act shall have the same rights to contribution as such a Holder, and each director and officer of the Company or any Guarantor, and each person, if any, who controls the Company or any Guarantor within the meaning of the Securities Act
and the Exchange Act shall have the same rights to contribution as the Company and the Guarantors. 
 SECTION 9.
Participation in Underwritten Registrations. No Holder may participate in any Underwritten Registration hereunder unless such Holder (a) agrees to sell such Holder’s Transfer Restricted Securities on the basis provided in any
underwriting arrangements approved by the Persons entitled hereunder to approve such arrangements and (b) completes and executes all reasonable questionnaires, powers of attorney, indemnities, underwriting agreements, lock-up letters and other
documents required under the terms of such underwriting arrangements. 
 SECTION 10. Selection of Underwriters. The
Holders covered by a Shelf Registration Statement who desire to do so may sell Transfer Restricted Securities covered by such Shelf Registration Statement in an Underwritten Offering. In any such Underwritten Offering, the investment banker(s) and
managing underwriter(s) that will administer such offering will be selected by the vote of the Holders of the majority in aggregate principal amount of Transfer Restricted Securities included in such offering; provided, however, that such
investment banker(s) and managing underwriter(s) must be reasonably satisfactory to the Company. 
 SECTION 11.
Miscellaneous. 
 (a) Remedies. Each of the Company and the Guarantors hereby agrees that monetary damages would
not be adequate compensation for any loss incurred by reason of a breach by it of the provisions of this Agreement and hereby agree to waive the defense in any action for specific performance that a remedy at law would be adequate. 

(b) No Inconsistent Agreements. Each of the Company and the Guarantors will not on or after the date of this Agreement enter into
any agreement with respect to its securities that is inconsistent with the rights granted to the Holders in this Agreement or otherwise conflicts with the provisions hereof. None of the Company nor any Guarantor has previously entered into any
agreement granting any registration rights with respect to the Securities to any Person. The rights granted to the Holders hereunder do not in any way conflict with and are not inconsistent with the rights granted to the holders of the
Company’s or any of the Guarantors’ securities under any agreement in effect on the date hereof. 

  
 -19-

 (c) Amendments and Waivers. The provisions of this Agreement may not be amended,
modified or supplemented, and waivers or consents to or departures from the provisions hereof may not be given unless the Company has (i) in the case of Section 5 hereof and this Section 12(c)(i), obtained the written consent of
Holders of all outstanding Transfer Restricted Securities and (ii) in the case of all other provisions hereof, obtained the written consent of the Holders of a majority of the aggregate principal amount of Transfer Restricted Securities
outstanding (in either case, excluding any Transfer Restricted Securities held by the Company or its affiliates). Notwithstanding the foregoing, a waiver or consent to departure from the provisions hereof that relates exclusively to the rights of
Holders whose securities are being tendered pursuant to an Exchange Offer and that does not affect directly or indirectly the rights of other Holders whose securities are not being tendered pursuant to such Exchange Offer may be given by the Holders
of a majority of the outstanding principal amount of Transfer Restricted Securities being tendered or registered. 
 (d)
Notices. All notices and other communications provided for or permitted hereunder shall be made in writing by hand-delivery, first-class mail (registered or certified, return receipt requested), telex, telecopier, facsimile, or air courier
guaranteeing overnight delivery: 
 (i) if to a Holder, at the address set forth on the records of the Registrar
under the Indenture, with a copy to the Registrar under the Indenture; 
 (ii) and if to the Company: 

Ally Financial Inc. 
 200 Renaissance Center 
 P.O. Box 200 

Detroit, Michigan 48625 
 Telecopier No.: (313)656-6124 
 Attention: General Counsel 

With a copy to: 
 Davis Polk & Wardwell LLP 
 450 Lexington Avenue 

New York, New York 10017 
 Telecopier No.: (212) 701-5800 
 Attention: Richard A. Drucker 

All such notices and communications shall be deemed to have been duly given: at the time delivered by hand, if personally delivered; five
Business Days after being deposited in the mail, postage prepaid, if mailed; when answered back, if telexed; when receipt acknowledged, if telecopied; and on the next Business Day, if timely delivered to an air courier guaranteeing overnight
delivery. 

  
 -20-

 Copies of all such notices, demands or other communications shall be concurrently delivered
by the Person giving the same to the Trustee at the address specified in the applicable Indenture. 
 (e) Successors and
Assigns. This Agreement shall inure to the benefit of and be binding upon the successors and assigns of each of the parties, including, without limitation, and without the need for an express assignment, subsequent Holders; provided,
however, that this Agreement shall not inure to the benefit of or be binding upon a successor or assign of a Holder unless and to the extent such successor or assign acquired Transfer Restricted Securities from such Holder. 

(f) Counterparts. This Agreement may be executed in any number of counterparts and by the parties hereto in separate counterparts,
each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. 
 (g) Headings. The headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning hereof. 

(h) Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK AS
APPLIED TO CONTRACTS MADE AND PERFORMED IN SUCH STATE. ANY RIGHT TO TRIAL BY JURY WITH RESPECT TO ANY CLAIM OR PROCEEDING RELATED TO OR ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTION OR CONDUCT IN CONNECTION HEREWITH, IS WAIVED. 

(i) Severability. In the event that any one or more of the provisions contained herein, or the application thereof in any
circumstance, is held invalid, illegal or unenforceable, the validity, legality and enforceability of any such provision in every other respect and of the remaining provisions contained herein shall not be affected or impaired thereby. 

(j) Entire Agreement. This Agreement is intended by the parties as a final expression of their agreement and intended to be a
complete and exclusive statement of the agreement and understanding of the parties hereto in respect of the subject matter contained herein. There are no restrictions, promises, warranties or undertakings, other than those set forth or referred to
herein with respect to the registration rights granted by the Company with respect to the Transfer Restricted Securities. This Agreement supersedes all prior agreements and understandings between the parties with respect to such subject matter.

 (k) Third-Party Beneficiaries. Holders (including Broker-Dealers holding Transfer Restricted Securities) are express
and intended third-party beneficiaries of this Agreement, and this Agreement may be enforced by such Persons. 
 [Signature Pages
follow] 

  
 -21-

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

					
	ALLY FINANCIAL INC.
		
	By:    	 	 /s/ Cathy L. Quenneville

		 	Name:	 	  Cathy L. Quenneville
		 	Title:	 	  Secretary
	
	GMAC LATIN AMERICA HOLDINGS LLC
		
	By:	 	 /s/ Cathy L. Quenneville

		 	Name:	 	  Cathy L. Quenneville
		 	Title:	 	  Secretary
	
	GMAC INTERNATIONAL HOLDINGS B.V.
		
	By:	 	 /s/ Cathy L. Quenneville

		 	Name:	 	  Cathy L. Quenneville
		 	Title:	 	  Attorney
	
	GMAC CONTINENTAL LLC
		
	By:	 	 /s/ Cathy L. Quenneville

		 	Name:	 	  Cathy L. Quenneville
		 	Title:	 	  Secretary
	
	ALLY US LLC
		
	By:	 	 /s/ Cathy L. Quenneville

		 	Name:	 	  Cathy L. Quenneville
		 	Title:	 	  Secretary
	
	IB FINANCE HOLDING COMPANY, LLC
		
	By:	 	 /s/ Cathy L. Quenneville

		 	Name:	 	  Cathy L. Quenneville
		 	Title:	 	  Secretary

 Signature
Page to Registration Rights Agreement 

			
	Acting on behalf of themselves and as the
	 Representatives of the several Initial
 Purchasers

		
	By:    	 	BARCLAYS CAPITAL INC.
		
	By:	 	 /s/ Diane Rinnovatore

		 	Name: Diane Rinnovatore
		 	Title: Managing Director

Signature Page to Registration Rights Agreement 

			
	By:    	 	CITIGROUP GLOBAL MARKETS INC.
		
	By:	 	 /s/ Jack D. McSpadden

		 	Name: Jack D. McSpadden
		 	Title: Managing Director

Signature Page to Registration Rights Agreement 

			
	By:    	 	J.P. MORGAN SECURITIES LLC
		
	By:	 	 /s/ Stephen L. Sheiner

		 	Name: Stephen L. Sheiner
		 	Title: Executive Director

Signature Page to Registration Rights Agreement 

			
	By:    	 	MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED
		
	By:	 	 /s/ Caspar Bentinck

		 	Name: Caspar Bentinck
		 	Title: Managing Director

Signature Page to Registration Rights Agreement

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