Document:

EX-4.9

 Exhibit 4.9 

EXECUTION VERSION 
 AXA EQUITABLE
HOLDINGS, INC. 
 $800,000,000 principal amount of 3.900% Senior Notes due 2023 

$1,500,000,000 principal amount of 4.350% Senior Notes due 2028 

$1,500,000,000 principal amount of 5.000% Senior Notes due 2048 

REGISTRATION RIGHTS AGREEMENT 

April 20, 2018 
 J.P. Morgan Securities LLC

 383 Madison Avenue 
 New York, New York 10179 

Citigroup Global Markets Inc. 
 388 Greenwich Street 

New York, New York 10013 
 Wells Fargo Securities, LLC 

Duke Energy Center 
 550 South Tryon Street 

Charlotte, North Carolina 28202 
 Ladies and Gentlemen: 

This Registration Rights Agreement (this “Agreement”), dated April 20, 2018, is entered into by and among AXA Equitable
Holdings, Inc., a Delaware corporation (the “Issuer”), and J.P. Morgan Securities LLC, Citigroup Global Markets Inc. and Wells Fargo Securities, LLC (collectively with, for and on behalf of the Initial Purchasers named in the
Purchase Agreement referred to below, the “Initial Purchasers”). The Issuer proposes to issue and sell to the Initial Purchasers, upon the terms set forth in a purchase agreement, dated April 17, 2018 (the “Purchase
Agreement”), $800,000,000 principal amount of 3.900% Senior Notes due 2023, $1,500,000,000 principal amount of 4.350% Senior Notes due 2028 and $1,500,000,000 principal amount of its 5.000% Senior Notes due 2048 (collectively, the
“Original Notes”) (such sale, the “Initial Placement”). As an inducement to the Initial Purchasers to enter into the Purchase Agreement and in satisfaction of a condition to your obligations thereunder, the Issuer
agrees with you, (i) for your benefit and (ii) for the benefit of the holders from time to time of the Registrable Securities (as defined below), including you (each of the foregoing a “Holder” and together the
“Holders”), as follows: 
 1.    Definitions. Capitalized terms used herein without definition
have their respective meanings set forth in the Purchase Agreement. As used in this Agreement, the following capitalized defined terms have the following meanings: 

“Affiliate” of any specified person means any other person which, directly or indirectly, is in control of, is controlled by,
or is under common control with, such specified person. For purposes of this definition, control of a person means the power, direct or indirect, to 

 
direct or cause the direction of the management and policies of such person whether by contract or otherwise; and the terms “controlling” and “controlled” have meanings
correlative to the foregoing. 
 “Agreement” has the meaning set forth in the introductory paragraph hereto. 

“Commission” means the Securities and Exchange Commission. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations of the Commission
promulgated thereunder. 
 “Exchange Offer Prospectus” means the prospectus included in the Exchange Offer Registration
Statement, as amended or supplemented by any prospectus supplement, with respect to the terms of the offering of any portion of the New Notes covered by such Exchange Offer Registration Statement, and all amendments and supplements thereto and all
material incorporated by reference therein. 
 “Exchange Offer Registration Period” means the 90-day period following the last date for acceptance for exchange of the Original Notes for New Notes in the Registered Exchange Offer, which period shall be extended by one day for each day of a Suspension Period.

 “Exchange Offer Registration Statement” means a registration statement of the Issuer on an appropriate form under the
Securities Act with respect to the Registered Exchange Offer, all amendments and supplements to such registration statement, including post-effective amendments, in each case including the Prospectus contained therein, all exhibits thereto and all
material incorporated by reference therein. 
 “Exchange Period” has the meaning set forth in the Section 2(c). 

“Exchanging Dealer” means any Holder (which may include the Initial Purchasers) which is a
broker-dealer electing to exchange Original Notes acquired for its own account as a result of market-making activities or other trading activities for New Notes. 

“Holder” has the meaning set forth in the introductory paragraph hereto. 

“Indenture” means the Indenture relating to the Original Notes and the New Notes, dated as of April 20, 2018, among the
Issuer, Wilmington Savings Fund Society, FSB, as trustee, and Citibank, N.A., as paying agent, security registrar and calculation agent, as the same may be amended from time to time in accordance with the terms thereof, as supplemented by the
supplemental indenture for each series of Original Notes. 
 “Initial Placement” has the meaning set forth in the
introductory paragraph hereto. 
 “Initial Public Offering” means the initial public offering of at least 10 percent
of the outstanding shares of common stock of the Issuer as set forth on the registration statement on Form S-1 (File No. 333-221521) describing AXA S.A.’s
plans to offer and sell shares of the Issuer’s common stock in an initial public offering. 

  
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 “Initial Purchasers” has the meaning set forth in the introductory paragraph
hereto. 
 “Issuer” has the meaning set forth in the introductory paragraph hereto. 

“Letter of Transmittal” has the meaning set forth in Section 2(c) hereto. 

“Losses” has the meaning set forth in Section 7(d) hereto. 

“Majority Holders” means the Holders of a majority of the aggregate principal amount of the Original Notes and the New Notes
registered under a Registration Statement. 
 “Managing Underwriters” means the investment banker or investment bankers and
manager or managers that shall administer an offering of securities under a Shelf Registration Statement. 
 “New Notes”
means, for each applicable series of Original Notes, senior notes of the Issuer identical in all material respects to the applicable series of Original Notes (except that the interest rate step-up provisions
for failure to comply with this Agreement and the transfer restrictions will be modified or eliminated, as appropriate), to be issued under the Indenture. 

“Notes” means any Original Notes and New Notes. 

“Original Notes” has the meaning set forth in the introductory paragraph hereto. 

“Prospectus” means the prospectus included in any Registration Statement (including, without limitation, a prospectus that
discloses information previously omitted from a prospectus filed as part of an effective registration statement in reliance upon Rule 430A, Rule 430B or Rule 430C under the Securities Act), as amended or supplemented by any prospectus
supplement, with respect to the terms of the offering of any portion of the Original Notes or the New Notes covered by such Registration Statement, and all amendments and supplements to the Prospectus, including post-effective amendments. 

“Purchase Agreement” has the meaning set forth in the introductory paragraph hereto. 

“Registered Exchange Offer” means the proposed offer by the Issuer to the Holders to issue and deliver to such Holders, in
exchange for the Original Notes, a like principal amount of the New Notes. 
 “Registrable Securities” means the Original
Notes and any New Notes issued pursuant to Section 2(g) hereof; provided that such Notes shall cease to be Registrable Securities (i) when a Registration Statement with respect to such Notes has become effective under the Securities
Act and such Notes have been exchanged or disposed of pursuant to such Registration Statement, (ii) when such Notes cease to be outstanding or (iii) with respect to Original Notes (except for Original Notes constituting any portion of an
unsold allotment with respect to which any Purchaser determines that it is not eligible to participate in the Registered Exchange Offer), when a Registered Exchange Offer is consummated regardless of whether such Original Notes have been exchanged
in the Registered Exchange Offer. 

  
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 “Registration Default” means the occurrence of any of the following:
(i) the Registered Exchange Offer is not completed on or prior to the Target Registration Date, (ii) the Shelf Registration Statement, if required by Section 3 of this Agreement, has not become effective on or prior to the Target
Registration Date, or (iii) the Shelf Registration Statement, if required by Section 3 of this Agreement, has become effective and thereafter ceases to be effective or the Prospectus contained therein ceases to be usable for resales of
Notes, in each case whether or not permitted by this Agreement, (a) on more than two occasions during the Shelf Registration Period or (b) at any time in any 12-month period during the Shelf Registration Period there exists a Suspension
Period for more than 30 days, whether or not consecutive. 
 “Registration Expenses” means all costs and expenses incident
to the performance of or compliance by the Issuer with this Agreement, including without limitation the following: (i) all Commission or FINRA registration and filing fees, (ii) the fees, disbursements and expenses of counsel and
accountants to the Issuer and all other expenses in connection with the preparation, printing, distribution and mailing of any Registration Statement, any Prospectus, any free writing prospectus and any amendments or supplements thereto, any letter
of transmittal and documents related to a Registered Exchange Offer, any underwriting agreements, securities sales agreements or other similar agreements and any other documents relating to the performance of and compliance with this Agreement;
(iii) all fees and expenses in connection with compliance with state securities or Blue Sky laws; (iv) the costs incident to the authorization, issuance and delivery of the New Notes and any taxes payable in connection therewith, including
expenses and application fees incurred in connection with the approval of New Notes for book-entry transfer by DTC; (v) any fees charged by securities rating services incurred by the Issuer (including with respect to maintaining the ratings of
the Notes); (vi) the fees and expenses of any trustee, paying agent or transfer agent and the fees and disbursements of one counsel for any such trustee, paying agent or transfer agent in connection with the Indenture, including in connection with
the qualification of the Indenture under applicable securities laws; and (vii) all expenses and application fees incurred in connection with the approval of New Notes for book- entry transfer by DTC. 

“Registration Statement” means any Exchange Offer Registration Statement or Shelf Registration Statement that covers any of
the Original Notes or the New Notes pursuant to the provisions of this Agreement, all amendments and supplements to such registration statement, including, without limitation, post-effective amendments, in
each case including the Prospectus contained therein, all exhibits thereto and all material incorporated by reference therein. 

“Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations of the Commission promulgated
thereunder. 
 “Shelf Registration” means a registration effected pursuant to Section 3 hereof. 

“Shelf Registration Period” has the meaning set forth in Section 3(b) hereof. 

  
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 “Shelf Registration Statement” means a “shelf” registration statement
of the Issuer pursuant to the provisions of Section 3 hereof which covers some of or all the Registrable Securities, on an appropriate form under Rule 415 under the Securities Act, or any similar rule that may be adopted by the Commission, all
amendments and supplements to such registration statement, including post-effective amendments, in each case including the Prospectus contained therein, all exhibits thereto and all material incorporated by
reference therein. 
 “Suspension Actions” has the meaning set forth in Section 3(c) hereof. 

“Suspension Period” means, with respect to any Registration Statement or Prospectus, any period or periods during which such
Registration Statement ceases to be effective or such Prospectus ceases to be usable. 
 “Target Registration Date” means
June 30, 2019. 
 “Trustee” means the trustee with respect to the Original Notes and the New Notes under the
Indenture. 
 “underwriter” means any underwriter of securities in connection with an offering thereof under a Shelf
Registration Statement. 
 2.    Registered Exchange Offer; Resales of New Notes by Exchanging Dealers; Private
Exchange. 
 (a)    The Issuer shall for the benefit of Holders, at the Issuer’s cost, use its
reasonable best efforts to (i) prepare and file with the Commission the Exchange Offer Registration Statement with respect to the Registered Exchange Offer, (ii) cause the Exchange Offer Registration Statement to be declared effective
under the Securities Act, (iii) keep the Exchange Offer Registration Statement effective until the closing of the Registered Exchange Offer, (iv) cause the Registered Exchange Offer to be consummated not later than 60 days after the
Exchange Offer Registration Statement becomes effective and (v) cause the Registered Exchange Offer to be consummated not later than the Target Registration Date. The Issuer shall not effect the Registered Exchange Offer prior to the
consummation of the Initial Public Offering. 
 (b)    Upon the effectiveness of the Exchange Offer
Registration Statement, the Issuer shall promptly commence the Registered Exchange Offer, it being the objective of such Registered Exchange Offer to enable each Holder electing to exchange Original Notes of each applicable series for corresponding
New Notes (assuming that such Original Notes do not constitute a portion of an unsold allotment acquired by such Holder directly from the Issuer and that such Holder (i) is not an Affiliate of the Issuer, (ii) acquires the New Notes in the
ordinary course of its business, (iii) at the time of commencement of the Registered Exchange Offer, has no arrangements or understandings with any person to participate in the distribution (within the meaning of the Securities Act) of the New
Notes in violation of the Securities Act, and (iv) if such Holder is a broker-dealer that will receive New Notes for its own account in exchange for Original Notes that were acquired as a result of market-making or other trading activities,
that it will deliver a prospectus (or, to the extent permitted by law, make a prospectus 

  
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available) in connection with any resale of the New Notes) to trade such New Notes from and after their receipt without any limitations or restrictions under the Securities Act or under state
securities or Blue Sky laws. 
 (c)    In connection with the Registered Exchange Offer, the Issuer
shall: 
 (i)    deliver or cause to be delivered to each Holder a copy of the Prospectus forming part of
the Exchange Offer Registration Statement, together with an appropriate letter of transmittal (the “Letter of Transmittal”) and related documents; 

(ii)    keep the Registered Exchange Offer open for not less than twenty (20) business days after the
date notice thereof is mailed to the Holders (or any shorter or longer period permitted or required by applicable law) (such period, the “Exchange Period”); 

(iii)    utilize the services of a depositary for the Registered Exchange Offer with an address in the
Borough of Manhattan, The City of New York; 
 (iv)    permit Holders to withdraw tendered Original Notes
at any time prior to the expiration of the Exchange Period, by sending to the institution specified in the Letter of Transmittal or other applicable notice, a notice of withdrawal by electronic mail, facsimile transmission or letter setting forth
the name of such Holder, the principal amount of Original Notes delivered for exchange, and a statement that such Holder is withdrawing such Holder’s election to have such Original Notes exchanged or as otherwise required by the applicable
procedures of the depositary; and 
 (v)    comply in all material respects with all applicable laws.

 (d)    As soon as practicable after the expiration of the Registered Exchange Offer, the Issuer shall:

 (i)    accept for exchange all Original Notes tendered and not validly withdrawn pursuant to the
Registered Exchange Offer in accordance with the terms of the Exchange Offer Registration Statement and the Letter of Transmittal; 

(ii)    deliver to the Trustee for cancellation all Original Notes so accepted for exchange; and 

(iii)    promptly cause the Trustee to authenticate and deliver to each Holder of Original Notes so
accepted for exchange a principal amount of New Notes, in the applicable series, equal to the principal amount of the Original Notes of such Holder so accepted for exchange. 

(e)    The Registered Exchange Offer shall not be subject to any conditions, other than that it does not
violate any applicable law or applicable interpretations of the Commission’s staff, the due tendering of Registrable Securities in accordance with the 

  
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Registered Exchange Offer and that no action or proceeding has been instituted or threatened in any court or by or before any governmental agency relating to the Exchange Offer which could
reasonably be expected to impair the Issuer’s ability to proceed with the Exchange Offer. 

(f)    The Initial Purchasers and the Issuer acknowledge that, pursuant to current interpretations by the
Commission’s staff of Section 5 of the Securities Act, and in the absence of an applicable exemption therefrom, each Exchanging Dealer is required to deliver a Prospectus in connection with a sale of any New Notes received by such
Exchanging Dealer pursuant to the Registered Exchange Offer in exchange for Original Notes acquired for its own account as a result of market-making activities or other trading activities. Accordingly, the Issuer shall: 

(i)    include the information set forth in Annex A hereto on the cover of the Exchange Offer Registration
Statement, in Annex B hereto in the forepart of the Exchange Offer Registration Statement in a section setting forth details of the Exchange Offer, in Annex C hereto in the underwriting or plan of distribution section of the Prospectus forming a
part of the Exchange Offer Registration Statement, and in Annex D hereto in the Letter of Transmittal delivered pursuant to the Registered Exchange Offer (it being understood that a Holder’s participation in the Registered Exchange Offer is
conditioned on the Holder, by executing and returning the Letter of Transmittal, representing in writing to the Issuer as set forth in Rider B of Annex D hereto); and 

(ii)    use reasonable best efforts to keep the Exchange Offer Registration Statement continuously
effective under the Securities Act during the Exchange Offer Registration Period for delivery by Exchanging Dealers in connection with sales of New Notes received pursuant to the Registered Exchange Offer, as contemplated by Section 5(h) below.

 (g)    In the event that any Purchaser determines that it is not eligible to participate in the
Registered Exchange Offer with respect to the exchange of Original Notes constituting any portion of an unsold allotment, at the request of such Purchaser, the Issuer shall issue and deliver to such Purchaser or the party purchasing New Notes
registered under a Shelf Registration Statement as contemplated by Section 3 hereof from such Purchaser, in exchange for such Original Notes, a like principal amount of New Notes, of the applicable series. The Issuer shall seek to cause the
CUSIP Service Bureau to issue the same CUSIP number for such New Notes as for New Notes issued pursuant to the Registered Exchange Offer. 

3.    Shelf Registration. If, (i) the Issuer determines upon advice of outside counsel that a Registered
Exchange Offer as contemplated by Section 2 hereof may not be completed as soon as practicable after the last date for acceptance of Original Notes for exchange because it would violate any applicable law or applicable interpretations of the
Commission’s staff, or (ii) for any other reason the Registered Exchange Offer is not consummated on or prior to the Target Registration Date, or (iii) any Purchaser so requests with respect to Original Notes not eligible to be
exchanged for New Notes in a Registered Exchange Offer (or any New Notes 

  
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received pursuant to Section 2(g)) or, in the case of any Purchaser that participates in any Registered Exchange Offer, such Purchaser does not receive freely tradable New Notes, or (iv) any
Holder (other than a Purchaser) is not eligible to participate in the Registered Exchange Offer or (v) in the case of any such Holder that participates in the Registered Exchange Offer, such Holder does not receive freely tradable New Notes in
exchange for tendered Original Notes, other than by reason of such Holder being an affiliate of the Issuer within the meaning of the Securities Act (it being understood that, for purposes of this Section 3, (1) the requirement that a Purchaser
deliver a Prospectus containing the information required by Items 507 and/or 508 of Regulation S-K under the Securities Act in connection with sales of New Notes acquired in exchange for such Original Notes
shall result in such New Notes being not “freely tradeable,” but (2) the requirement that an Exchanging Dealer deliver a Prospectus in connection with sales of New Notes acquired in the Registered Exchange Offer in exchange for
Original Notes acquired as a result of market-making activities or other trading activities shall not result in such New Notes being not “freely tradeable”), the following provisions shall apply: 

(a)    The Issuer shall as promptly as practicable file with the Commission and thereafter shall use its
reasonable best efforts to cause to become effective under the Securities Act, or, if permitted by Rule 430B under the Securities Act, otherwise designate an existing registration statement filed with the Commission as, a Shelf Registration
Statement relating to the offer and sale of the applicable Registrable Securities, by the Holders from time to time in accordance with the methods of distribution elected by such Holders and set forth in such Shelf Registration Statement;
provided, however, that, with respect to New Notes received by a Purchaser in exchange for Original Notes constituting any portion of an unsold allotment, the Issuer may, if permitted by current interpretations by the Commission’s
staff, file a post-effective amendment to the Exchange Offer Registration Statement containing the information required by Regulation S-K Items 507 and/or 508, as applicable, in satisfaction of its obligations
under this paragraph (a) with respect thereto, and any such Exchange Offer Registration Statement, as so amended, shall be referred to herein as, and governed by the provisions herein applicable to, a Shelf Registration Statement. Unless the
Shelf Registration Statement is an automatic shelf registration statement (as defined in Rule 405 under the Securities Act), the Issuer shall include therein the information required by Rule 430B(b)(2)(iii) under the Securities Act. 

(b)    The Issuer shall use its reasonable best efforts to keep the Shelf Registration Statement
continuously effective in order to permit the Prospectus forming part thereof to be usable by Holders until the Notes covered by the Shelf Registration Statement cease to be Registrable Securities (such period being called the “Shelf
Registration Period”). The Issuer shall be deemed not to have used its reasonable best efforts to keep the Shelf Registration Statement effective during the Shelf Registration Period if the Issuer voluntarily takes any action that would
result in Holders of securities covered thereby not being able to offer and sell such securities during that period, unless (i) such action is required by applicable law or (ii) such action is taken by such party in good faith and for
valid business reasons (not including avoidance of the obligations of the Issuer hereunder), including the acquisition or divestiture of assets, so long as the Issuer promptly thereafter complies with the requirements of Section 5(k) hereof, if
applicable. 

  
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 (c)    The Issuer shall be entitled to suspend its obligation
to file any amendment to a Shelf Registration Statement, furnish any supplement or amendment to a Prospectus included in a Shelf Registration Statement or any free writing prospectus, make any other filing with the Securities and Exchange Commission
that would be incorporated by reference into a Shelf Registration Statement, cause a Shelf Registration Statement to remain effective or the Prospectus or any free writing prospectus usable or take any similar action (collectively, “Suspension
Actions”) if there is a possible acquisition, disposition or business combination or other transaction, business development or event involving the Issuer or its subsidiaries that may require disclosure in the Shelf Registration Statement or
Prospectus and the Issuer determines that such disclosure is not in the best interest of the Issuer and its stockholders or obtaining any financial statements relating to any such acquisition or business combination required to be included in the
Shelf Registration Statement or Prospectus would be impracticable. Upon the occurrence of any of the conditions described in the foregoing sentence, the Issuer shall give prompt notice of the delay or suspension (but not the basis thereof) to the
Holders. Upon the termination or disclosure of such condition, the Issuer shall promptly proceed with all Suspension Actions that were delayed or suspended and, if required, shall give prompt notice to the Holders of the cessation of the delay or
suspension (but not the basis thereof). 
 4.    Registration Default. 

(a)    If a Registration Default occurs, the interest rate on the Registrable Securities will be increased
by the following amounts (hereinafter referred to as “Additional Interest”): (A) 0.25% per annum for the first 90-day period beginning on the day immediately following such Registration Default and
(B) an additional 0.25% per annum with respect to each subsequent 90-day period, in each case until and including the date such Registration Default ends, provided that the maximum increase shall be 0.50% per annum. 

(b)    A Registration Default ends when the securities subject to the applicable Registration Statement
cease to be Registrable Securities or, if earlier, (1) in the case of a Registration Default under clause (i) of the definition thereof, when the Registered Exchange Offer is completed, (2) in the case of a Registration Default under
clause (ii) of the definition thereof, when the Shelf Registration Statement becomes effective, or (3) in the case of a Registration Default under clause (iii) of the definition thereof, when the Shelf Registration Statement again
becomes effective or the Prospectus again becomes usable. 
 5.    Registration Procedures. In connection with
any Shelf Registration Statement and, to the extent applicable, any Exchange Offer Registration Statement, the following provisions shall apply: 

(a)    (i) The Issuer shall furnish to you, prior to the filing or designation thereof with the Commission,
a copy of any Exchange Offer Registration Statement, each amendment thereof and each amendment or supplement, if any, to the Prospectus included therein and shall use its reasonable best efforts to reflect in each such document, when so filed or
designated with the Commission, such comments as you reasonably may propose. 

  
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 (ii)    The Issuer shall furnish to you, prior to the filing
or designation thereof with the Commission, a copy of any Shelf Registration Statement, each amendment thereof and each amendment or supplement, if any, to the Prospectus included therein and shall use its reasonable best efforts to reflect in each
such document, when so filed or designated with the Commission, such comments as any Holder whose securities are to be included in such Shelf Registration Statement reasonably may propose. 

(b)    The Issuer shall ensure that (i) any Registration Statement and any amendment thereto and any
Prospectus forming part thereof and any amendment or supplement thereto complies in all material respects with the Securities Act and the rules and regulations promulgated thereunder, (ii) any Registration Statement and any amendment thereto
does not, when it becomes effective (or, in the case of a previously filed registration statement that is effective at the time it is designated as a Shelf Registration Statement, when it is so designated), contain an untrue statement of a material
fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading and (iii) any Prospectus forming part of any Registration Statement, and any amendment or supplement to such
Prospectus, does not include an untrue statement of a material fact or omit 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. 

(c)    (i) The Issuer shall advise you and, in the case of a Shelf Registration Statement, the Holders of
securities covered thereby, and, if requested by you or any such Holder, confirm such advice in writing: 

(1)    when a Registration Statement and any amendment thereto has been filed (or, in the case of a
previously filed registration statement designated as a Shelf Registration Statement, when it is so designated) with the Commission and when the Registration Statement or any post-effective amendment thereto has become effective (or, in the case of
a previously filed registration statement that is effective at the time it is designated as a Shelf Registration Statement, when it is so designated); and 

(2)    of any request by the Commission for amendments or supplements to the Registration Statement or the
Prospectus included therein or for additional information. 
 (ii)    The Issuer shall advise you and, in
the case of a Shelf Registration Statement, the Holders of securities covered thereby, and, in the case of an Exchange Offer Registration Statement, any Exchanging Dealer which has provided in writing to the Issuer a telephone or facsimile number or
e-mail address and address for notices, and, if requested by you or any such Holder or Exchanging Dealer, confirm such advice in writing: 

  
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 (1)    of the issuance by the Commission of any stop order
suspending the effectiveness of the Registration Statement or the initiation of any proceedings for that purpose; 

(2)    of the receipt by the Issuer of any notification with respect to the suspension of the
qualification of the securities included therein for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose; and 

(3)    of the happening of any event that requires the making of any changes in the Registration Statement
or the Prospectus so that, as of such date, the statements therein are not misleading and do not omit to state a material fact required to be stated therein or necessary to make the statements therein (in the case of the Prospectus, in the light of
the circumstances under which they were made) not misleading (which advice shall be accompanied by an instruction to suspend the use of the Prospectus until the requisite changes have been made). 

Each such Holder or Exchanging Dealer agrees by its acquisition of such securities to be sold by such Holder or Exchanging Dealer, that, upon
being so advised by the Issuer of any event described in clause (3) of this paragraph (c)(ii), such Holder or Exchanging Dealer will forthwith discontinue disposition of such securities under such Registration Statement or Prospectus, until
such Holder’s or Exchanging Dealer’s receipt of the copies of the supplemented or amended Prospectus contemplated by section 5(k) hereof, or until it is advised in writing by the Issuer that the use of the applicable Prospectus may be
resumed. 
 (d)    The Issuer shall use its reasonable best efforts to obtain the withdrawal of any order
suspending the effectiveness of any Registration Statement at the earliest possible time. 
 (e)    The
Issuer shall furnish to each Holder of securities included within the coverage of any Shelf Registration Statement, without charge, at least one copy of such Shelf Registration Statement and any post-effective
amendment thereto, including financial statements and schedules, and, if the Holder so requests in writing, any documents incorporated by reference therein and all exhibits thereto (including those incorporated by reference therein). 

(f)    The Issuer shall, during the Shelf Registration Period, deliver to each Holder of securities
included within the coverage of any Shelf Registration Statement, without charge, as many copies of the Prospectus (including each preliminary Prospectus) included in such Shelf Registration Statement and any amendment or supplement thereto as such
Holder may reasonably request; and the Issuer hereby consents to the use of the Prospectus or any amendment or supplement thereto by each of the selling Holders of securities in connection with the offering and sale of the securities covered by the
Prospectus or any amendment or supplement thereto. 

  
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 (g)    The Issuer shall furnish to each Exchanging Dealer
which so requests, without charge, at least one copy of the Exchange Offer Registration Statement and any post-effective amendment thereto, including financial statements and schedules and, if the Exchanging Dealer so requests in writing, any
documents incorporated by reference therein and all exhibits thereto (including those incorporated by reference therein). 

(h)    The Issuer shall, during the Exchange Offer Registration Period, promptly deliver to each Exchanging
Dealer, without charge, as many copies of the Prospectus included in such Exchange Offer Registration Statement and any amendment or supplement thereto as such Exchanging Dealer may reasonably request for delivery by such Exchanging Dealer in
connection with a sale of New Notes received by it pursuant to the Registered Exchange Offer; and the Issuer hereby consents to the use of the Prospectus or any amendment or supplement thereto by any such Exchanging Dealer, as aforesaid. 

(i)    Prior to the Registered Exchange Offer or any other offering of securities pursuant to any
Registration Statement, the Issuer shall register or qualify or cooperate with the Holders of securities included therein and their respective counsel in connection with the registration or qualification of such securities for offer and sale under
the securities or Blue Sky laws of such jurisdictions as any such Holder reasonably requests in writing and do any and all other acts or things necessary or advisable to enable the offer and sale in such jurisdictions of the securities covered by
such Registration Statement; provided, however, that the Issuer will not be required to qualify generally to do business in any jurisdiction where it is not then so qualified or to take any action which would subject it to general
service of process or to taxation in any such jurisdiction where it is not then so subject. 
 (j)    The
Issuer shall cooperate with the Holders of Original Notes to facilitate the timely preparation and delivery of certificates representing Original Notes to be sold pursuant to any Registration Statement free of any restrictive legends and in such
denominations and registered in such names as Holders may request prior to sales of securities pursuant to such Registration Statement. 

(k)    Upon the occurrence of any event contemplated by paragraph (c)(ii)(3) above, the Issuer shall
promptly prepare a post-effective amendment to any Registration Statement or an amendment or supplement to the related Prospectus or file any other required document so that, as thereafter delivered to
purchasers of the securities included therein, the Prospectus will not include an untrue statement of a material fact or omit to state any material fact necessary to make the statements therein, in the light of the circumstances under which they
were made, not misleading. 
 (l)    Not later than the effective date (or the designation date, in the
case of a previously filed registration statement that is effective at the time it is designated as a Shelf Registration Statement) of any such Registration Statement hereunder, the Issuer 

  
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shall provide a CUSIP number for each of the Original Notes or the New Notes, as the case may be, registered under such Registration Statement, and provide the Trustee with printed certificates
for such Original Notes or New Notes, in a form, if requested by the applicable Holder or Holder’s counsel, eligible for deposit with The Depository Trust Company or any successor thereto under the Indenture. 

(m)    The Issuer shall use its reasonable best efforts to comply with all applicable rules and regulations
of the Commission to the extent and so long as they are applicable to the Registered Exchange Offer or the Shelf Registration and will make generally available to the security holders of the Issuer a consolidated earnings statement (which need not
be audited) covering a twelve-month period commencing after the effective date (or the designation date, in the case of a previously filed registration statement that is effective at the time it is designated as a Shelf Registration Statement) of
the Registration Statement and ending not later than fifteen (15) months thereafter, as soon as practicable after the end of such period, which consolidated earnings statement shall satisfy the provisions of Section 11(a) of the Securities
Act. 
 (n)    The Issuer shall cause the Indenture to be qualified under the Trust Indenture Act of
1939, as amended, on or prior to the effective date (or the designation date, in the case of a previously filed Registration Statement that is effective at the time it is designated as a Shelf Registration Statement) of any Shelf Registration
Statement or Exchange Offer Registration Statement. 
 (o)    The Issuer may require each Holder of
securities to be sold pursuant to any Shelf Registration Statement to furnish to the Issuer in writing such information regarding the Holder and the distribution of such securities as the Issuer may from time to time reasonably require for inclusion
in such Registration Statement. The Issuer may exclude from any such Registration Statement the securities of any such Holder who fails to furnish such information within a reasonable time after receiving such request. Each Holder as to which any
Shelf Registration is being effected agrees to furnish promptly to the Issuer all information required to be disclosed in order to make the information previously furnished to the Issuer by such Holder not materially misleading. Each Holder further
agrees that neither such Holder nor any underwriter participating in any disposition pursuant to any Shelf Registration Statement on such Holder’s behalf will make any offer relating to the securities to be sold pursuant to such Shelf
Registration Statement that would constitute an issuer free writing prospectus (as defined in Rule 433 under the Securities Act) or that would otherwise constitute a “free writing prospectus” (as defined in Rule 405 under the Securities
Act) required to be filed by the Issuer with the Commission or retained by the Issuer under Rule 433 of the Securities Act, unless it has obtained the prior written consent of the Issuer (and except for as otherwise provided in any underwriting
agreement entered into by the Issuer and any such underwriter). 
 (p)    The Issuer shall, if requested,
promptly incorporate in a Prospectus supplement or post-effective amendment to a Shelf Registration Statement, such information as the Managing Underwriters, if any, and the Majority Holders reasonably agree should be included therein and shall make
all required filings of such Prospectus supplement or post-effective amendment as soon as notified of the matters to be incorporated in such Prospectus supplement or post-effective amendment. 

  
 -13- 

 (q)    (i) In the case of any Shelf Registration Statement,
the Issuer shall enter into such agreements (including underwriting agreements) and take all other appropriate actions reasonably required in order to expedite or facilitate the registration or the disposition of the Registrable Securities, and in
connection therewith, if an underwriting agreement is entered into, cause the same to contain indemnification provisions and procedures no less favorable than those set forth in Section 7 hereof (or such other provisions and procedures
acceptable to the Majority Holders and the Managing Underwriters, if any), with respect to all parties to be indemnified pursuant to Section 7 hereof. 

(ii)    Without limiting in any way paragraph (q)(i) above, no Holder may participate in any underwritten
registration hereunder unless such Holder (x) agrees to sell such Holder’s securities to be covered by such registration on the basis provided in any underwriting arrangements approved by the Majority Holders and the Managing Underwriters and
(y) completes and executes in a timely manner all customary questionnaires, powers of attorney, underwriting agreements and other documents reasonably required by the Issuer or the Managing Underwriters in connection with such underwriting
arrangements. 
 (r)    In the case of any Shelf Registration Statement, the Issuer shall (i) make
reasonably available for inspection by the Holders of securities to be registered thereunder, any underwriter participating in any disposition pursuant to such Registration Statement, and any attorney, accountant or other agent retained by the
Holders or any such underwriter all relevant financial and other records, pertinent corporate documents and properties of the Issuer and its subsidiaries reasonably requested by such person; (ii) cause the officers, directors and employees of the
Issuer to supply all relevant information reasonably requested by the Holders or any such underwriter, attorney, accountant or agent in connection with any such Registration Statement as is customary for due diligence examinations in connection with
primary underwritten offerings; provided, however, that any information that is nonpublic at the time of delivery of such information shall be kept confidential by the Holders or any such underwriter, attorney, accountant
or agent, unless such disclosure is made in connection with a court proceeding or required by law, or such information becomes available to the public generally or through a third party without an accompanying obligation of confidentiality;
(iii) make such representations and warranties to the Holders of securities registered thereunder and the underwriters, if any, in form, substance and scope as are customarily made by an issuer to underwriters in primary underwritten offerings;
(iv) obtain opinions of counsel to the Issuer (which counsel and opinions (in form, scope and substance) shall be reasonably satisfactory to the Managing Underwriters, if any) addressed to each selling Holder and the underwriters, if any,
covering such matters as are customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Holders and underwriters; (v) obtain “comfort” letters and updates thereof
from the independent certified public accountants of the Issuer (and, if necessary, any other independent certified public accountants of any subsidiary of the Issuer or of 

  
 -14- 

 
any business acquired by the Issuer for which financial statements and financial data are, or are required to be, included or incorporated by reference in the Registration Statement), addressed
to each selling Holder of securities registered thereunder and the underwriters, if any, in customary form and covering matters of the type customarily covered in “comfort” letters in connection with primary underwritten offerings; and
(vi) deliver such documents and certificates as may be reasonably requested by the Majority Holders and the Managing Underwriters, if any, including those to evidence compliance with Section 5(k) and with any customary conditions contained
in the underwriting agreement or other agreement entered into by the Issuer. The foregoing actions set forth in clauses (iii), (iv), (v) and (vi) of this Section 5(r) shall be performed (A) on the effective date (or the designation
date, in the case of a previously filed registration statement that is effective at the time it is designated as a Shelf Registration Statement) of such Registration Statement and each post-effective amendment thereto and (B) at each closing
under any underwriting or similar agreement as and to the extent required thereunder. 
 (s)    In the
case of any Exchange Offer Registration Statement, the Issuer shall (i) make reasonably available for inspection by each Initial Purchaser, and any attorney, accountant or other agent retained by such Initial Purchaser, all relevant financial
and other records, pertinent corporate documents and properties of the Issuer and its subsidiaries reasonably requested by such person; (ii) cause the officers, directors and employees of the Issuer to supply all relevant information reasonably
requested by such Initial Purchaser or any such attorney, accountant or agent in connection with any such Registration Statement as is customary for due diligence examinations in connection with primary underwritten offerings; provided,
however, that any information that is nonpublic at the time of delivery of such information shall be kept confidential by such Initial Purchaser or any such attorney, accountant or agent, unless such disclosure is made in connection with a
court proceeding or required by law, or such information becomes available to the public generally or through a third party without an accompanying obligation of confidentiality; (iii) make such representations and warranties to such Initial
Purchaser, in form, substance and scope as are customarily made by an issuer to underwriters in primary underwritten offerings; (iv) obtain opinions of counsel to the Issuer (which counsel and opinions (in form, scope and substance) shall be
reasonably satisfactory to such Initial Purchaser and its counsel), addressed to such Initial Purchaser, covering such matters as are customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably
requested by such Initial Purchaser or its counsel; (v) obtain “comfort” letters and updates thereof from the independent certified public accountants of the Issuer (and, if necessary, any other independent certified public
accountants of any subsidiary of the Issuer or of any business acquired by the Issuer for which financial statements and financial data are, or are required to be, included or incorporated by reference in the Registration Statement), addressed to
such Initial Purchaser, in customary form and covering matters of the type customarily covered in “comfort” letters in connection with primary underwritten offerings; and (vi) deliver such documents and certificates as may be
reasonably requested by such Initial Purchaser or its counsel, including those to evidence compliance with Section 5(k) and with conditions customarily contained in underwriting agreements. The foregoing actions set forth in clauses (iii),
(iv), (v) and (vi) of this Section 5(s) shall be performed (A) at the close of the Registered Exchange Offer and (B) on the effective date of any post-effective amendment to the Exchange Offer Registration Statement. 

  
 -15- 

 6.    Registration Expenses. The Issuer shall bear all Registration
Expenses and, in the event of any Shelf Registration Statement, will reimburse the Holders for the reasonable fees and disbursements of one firm or counsel (in addition to one local counsel in each relevant jurisdiction) designated by the Majority
Holders to act as counsel for the Holders in connection therewith. The Holders of Registrable Securities being registered shall pay all agency or brokerage fees and commissions and underwriting discounts and commissions attributable to the sale of
such Registrable Securities and the fees and disbursements of any counsel or other advisors or experts retained by such Holders (severally or jointly), other than the counsel and experts specifically referred to above in this Section 6,
transfer taxes on resale of any of the Registrable Securities by such Holders and any advertising expenses incurred by or on behalf of such Holders in connection with any offers they may make. 

7.    Indemnification and Contribution. (a) In connection with any Registration Statement, the Issuer agrees
to indemnify and hold harmless each Holder of securities covered by a Registration Statement (including each Initial Purchaser and, with respect to any Prospectus delivery as contemplated in Section 5(h) hereof, each Exchanging Dealer), the
directors, officers, employees and agents of each Holder, each person, if any, who controls any such Holder within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act and each affiliate of each Initial
Purchaser within the meaning of Rule 405 under the Securities Act from and against any and all losses, claims, damages or liabilities, joint or several, to which they or any of them may become subject under the Securities Act, the Exchange Act or
other Federal or state statutory law or regulation, at common law or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of
a material fact contained in the Registration Statement as originally filed or in any amendment thereof, or in any preliminary Prospectus or Prospectus, or in any amendment thereof or supplement thereto, or in any issuer free writing prospectus
approved for use by the Issuer, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and agrees to reimburse
each such indemnified party, as incurred, for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Issuer
will not be liable in any case to the extent that any such loss, claim, damage or liability arises out of or is based upon any such untrue statement or alleged untrue statement or omission or alleged omission made therein in reliance upon and in
conformity with written information furnished to the Issuer by or on behalf of any such Holder specifically for inclusion therein. This indemnity agreement will be in addition to any liability which the Issuer may otherwise have. 

The Issuer agrees to indemnify or contribute to Losses (as defined below) of, as provided in Section 7(d), any underwriters of Original
Notes or New Notes registered under a Shelf Registration Statement, their officers, directors, employees and agents and each person who controls such underwriters on substantially the same basis as that of the indemnification of the Initial
Purchasers and the selling Holders provided in this Section 7(a) and shall, if requested by any Holder, enter into an underwriting agreement reflecting such agreement, as provided in Section 5(q) hereof. 

  
 -16- 

 (b)    Each Holder of securities covered by a Registration
Statement (including each Initial Purchaser and, with respect to any Prospectus delivery as contemplated in Section 5(h) hereof, each Exchanging Dealer) severally and not jointly agrees to indemnify and hold harmless the Issuer, each of its
directors and officers and each other person, if any, who controls the Issuer within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing indemnity from the Issuer to each
such Holder, but only with reference to written information relating to such Holder furnished to the Issuer by or on behalf of such Holder specifically for inclusion in the documents referred to in the foregoing indemnity. This indemnity agreement
will be in addition to any liability which any such Holder may otherwise have. 
 (c)    Promptly after
receipt by an indemnified party under this Section 7 of notice of the commencement of any action, such indemnified party will, if a claim in respect thereof is to be made against the indemnifying party under this Section 7, notify the
indemnifying party in writing of the commencement thereof; but the failure to so notify the indemnifying party (i) will not relieve it from liability under paragraph (a) or (b) above unless and to the extent it did not otherwise learn of
such action and such failure results in the forfeiture by the indemnifying party of substantial rights and defenses and (ii) will not, in any event, relieve the indemnifying party from any obligations to any indemnified party other than the
indemnification obligations provided in paragraph (a) or (b) above. The indemnifying party shall be entitled to appoint counsel of the indemnifying party’s choice at the indemnifying party’s expense to represent the indemnified party
in any action for which indemnification is sought (in which case the indemnifying party shall not thereafter be responsible for the fees and expenses of any separate counsel retained by the indemnified party or parties except as set forth below);
provided, however, that such counsel shall be reasonably satisfactory to the indemnified party. Notwithstanding the indemnifying party’s election to appoint counsel to represent the indemnified party in an action, the indemnified
party shall have the right to employ separate counsel (including local counsel), and the indemnifying party shall bear the reasonable fees, costs and expenses of such separate counsel (and local counsel) if (i) the use of counsel chosen by the
indemnifying party to represent the indemnified party would present such counsel with a conflict of interest, (ii) the actual or potential defendants in, or targets of, any such action include both the indemnified party and the indemnifying
party and the indemnified party shall have reasonably concluded 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, (iii) the
indemnifying party shall not have employed counsel reasonably satisfactory to the indemnified party to represent the indemnified party within a reasonable time after notice of the institution of such action or (iv) the indemnifying party shall
authorize the indemnified party to employ separate counsel at the expense of the indemnifying party. An indemnifying party will not, without the prior written consent of the indemnified parties, settle or compromise or consent to the entry of any
judgment with respect to any pending or threatened claim, action, suit or proceeding in respect of which indemnification or contribution may be sought hereunder (whether or not the indemnified parties are actual or potential parties to such claim or
action) unless such settlement, compromise or consent includes an unconditional release of each indemnified party from all liability arising out of such claim, action, suit or proceeding. 

  
 -17- 

 It is understood, however, that the Issuer shall, in connection with any one such action or
separate but substantially similar or related actions in the same jurisdiction arising out of the same general allegations or circumstances, be liable for the reasonable fees and expenses of only one separate firm of attorneys (in addition to any
local counsel) at any time for all such Holders and controlling persons. An indemnifying party shall not be liable under this Section 7 to any indemnified party regarding any settlement or compromise or consent to the entry of any judgment with
respect to any pending or threatened claim, action, suit or proceeding in respect of which indemnification or contribution may be sought hereunder (whether or not the indemnified parties are actual or potential parties to such claim or action)
unless such settlement, compromise or consent is consented to by such indemnifying party, which consent shall not be unreasonably withheld. 

(d)    In the event that the indemnity provided in paragraph (a) or (b) of this Section 7 is
unavailable to or insufficient to hold harmless an indemnified party for any reason, then the Issuer and the Holders, as applicable, in lieu of indemnifying such indemnified party, shall, in the case of the Issuer, have an obligation to, and in the
case of each Holder, have a several and not joint obligation to, contribute to the aggregate losses, claims, damages and liabilities (including legal or other expenses reasonably incurred in connection with investigating or defending same)
(collectively “Losses”) to which the Issuer and the Holders may be subject in such proportion as is appropriate to reflect the relative benefits received by the Issuer, on the one hand, and by the Holders, on the other hand, from
the Initial Placement and the Registration Statement which resulted in such Losses; provided, however, that in no case shall any Initial Purchaser or any subsequent Holder of any Original Note or New Note be responsible, in the
aggregate, for any amount in excess of the purchase discount or commission applicable to such Original Note, or in the case of a New Note, applicable to the security which was exchangeable into such New Note, as set forth in the Offering Memorandum
and in the Purchase Agreement, nor shall any underwriter be responsible for any amount in excess of the underwriting discount or commission applicable to the securities purchased by such underwriter under the Registration Statement which resulted in
such Losses. If the allocation provided by the immediately preceding sentence is unavailable for any reason, the Issuer and the Holders severally shall contribute in such proportion as is appropriate to reflect not only such relative benefits but
also the relative fault of the Issuer, on the one hand, and the Holders, on the other hand, in connection with the statements or omissions which resulted in such Losses as well as any other relevant equitable considerations. Benefits received by the
Issuer shall be deemed to be equal to the sum of (x) the total net proceeds from the Initial Placement (before deducting expenses) as set forth in the Offering Memorandum and in the Purchase Agreement and (y) the total amount of additional
interest which the Issuer was not required to pay as a result of registering the securities covered by the Registration Statement which resulted in such Losses. Benefits received by the Initial Purchasers shall be deemed to be equal to the total
purchase discounts and commissions as set forth in the Offering Memorandum and in the Purchase Agreement, and benefits received by any other Holders shall be deemed to be equal to the value of receiving Original Notes or New Notes, as applicable,
registered under the Securities Act. Benefits received by any underwriter shall be deemed to be equal to the total underwriting discounts and 

  
 -18- 

 
commissions, as set forth on the cover page of the Prospectus forming a part of the Registration Statement which resulted in such Losses. Relative fault shall be determined by reference to
whether any alleged untrue statement or omission relates to information provided by the Issuer, on the one hand, or by Holders, on the other hand. The parties agree that it would not be just and equitable if contribution were determined by pro rata
allocation or any other method of allocation which does not take account of the equitable considerations referred to above. Notwithstanding the provisions of this paragraph (d), no person guilty of fraudulent misrepresentation (within the meaning of
Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. For purposes of this Section 7, each person who controls a Holder within the meaning of either the
Securities Act or the Exchange Act and each director, officer, employee and agent of such Holder shall have the same rights to contribution as such Holder, and each person who controls the Issuer within the meaning of either the Securities Act or
the Exchange Act, each of their officers who shall have signed the Registration Statement and each of their directors shall have the same rights to contribution as the Issuer, subject in each case to the applicable terms and conditions of this
paragraph (d). 
 (e)    The provisions of this Section 7 will remain in full force and effect,
regardless of any investigation made by or on behalf of any Initial Purchaser, any other Holder, the Issuer or any underwriter or any of the officers, directors or controlling persons referred to in this Section 7, and will survive the sale by
a Holder of securities covered by a Registration Statement. 
 8.    Miscellaneous. 

(a)    No Inconsistent Agreements. The Issuer has not, as of the date hereof, entered into, nor
shall it, on or after the date hereof, enter into, any agreement with respect to its securities that limits the rights granted to the Holders herein or otherwise conflicts with the provisions hereof. 

(b)    Amendments and Waivers. The provisions of this Agreement, including the provisions of this
sentence, may not be amended, qualified, modified or supplemented, and waivers or consents to departures from the provisions hereof may not be given, unless the Issuer has obtained the written consent of the Holders of at least a majority of the
then outstanding aggregate principal amount of Registrable Securities; provided that, with respect to any matter that directly or indirectly affects the rights of any Initial Purchaser hereunder, the Issuer shall obtain the written consent of
each such Initial Purchaser against which such amendment, qualification, supplement, waiver or consent is to be effective. Notwithstanding the foregoing (except the foregoing proviso), a waiver or consent to departure from the provisions hereof with
respect to a matter that relates exclusively to the rights of Holders whose Registrable Securities are being sold pursuant to a Registration Statement and that does not directly or indirectly affect the rights of other Holders may be given by the
Majority Holders, determined on the basis of Registrable Securities being sold rather than registered under such Registration Statement. 

  
 -19- 

 (c)    Notices. All notices and other communications
provided for or permitted hereunder shall be made in writing by hand-delivery, first-class mail, facsimile, or air courier guaranteeing overnight delivery: 

(i)    if to a Holder, at the most current address given by such Holder to the Issuer in accordance with
the provisions of this Section 8(c), which address initially is, with respect to each Holder, the address of such Holder maintained by the registrar under the Indenture, with a copy in like manner to you at the applicable address set forth in
the Purchase Agreement; and 
 (ii)    if to you, initially at the applicable address set forth in the
Purchase Agreement; and 
 (iii)    if to the Issuer, initially at the address set forth in the Purchase
Agreement. 
 All such notices and communications shall be deemed to have been duly given when received. 

The Initial Purchasers or the Issuer by notice to the other may designate additional or different addresses for subsequent notices or
communications. 
 (d)    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 the need for an express assignment or any consent by the Issuer or subsequent Holders of Registrable Securities. The Issuer hereby agrees to extend the benefits of
this Agreement to any Holder of Registrable Securities and any such Holder may specifically enforce the provisions of this Agreement as if an original party hereto. The Initial Purchasers (in their capacity as initial purchasers) shall have no
liability or obligation to the Issuer with respect to any failure by a Holder to comply with, or any breach by any Holder of, any of the obligations of such Holder under this Agreement. Any successor to the Issuer, whether by merger, consolidation
or other transaction, shall expressly assume the obligations of the Issuer hereunder. 
 (e)    Third
Party Beneficiaries. Each Holder shall be a third party beneficiary to the agreements made hereunder between the Issuer and the Initial Purchasers, and shall have the right to enforce such agreements directly to the extent it deems such
enforcement necessary or advisable to protect its rights or the rights of other Holders hereunder. 

(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. 

  
 -20- 

 (h)    Governing Law. THIS AGREEMENT SHALL BE
GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF NEW YORK (WITHOUT REGARD TO THE CONFLICT OF LAW PROVISIONS THEREOF). 

(i)    Severability. In the event that any one or more of the provisions contained herein, or the
application thereof in any circumstances, is held invalid, illegal or unenforceable in any respect for any reason, the validity, legality and enforceability of any such provision in every other respect and of the remaining provisions hereof shall
not be in any way impaired or affected thereby, it being intended that all the rights and privileges of the parties shall be enforceable to the fullest extent permitted by law. 

(j)    Securities Held by the Issuer, etc. Whenever the consent or approval of Holders of a
specified percentage of principal amount of Registrable Securities is required hereunder, Registrable Securities held by the Issuer or its Affiliates (other than subsequent Holders of Registrable Securities if such subsequent Holders are deemed to
be Affiliates solely by reason of their holdings of such Registrable Securities) shall not be counted in determining whether such consent or approval was given by the Holders of such required percentage. 

  
 -21- 

 Please confirm that the foregoing correctly sets forth the agreement among the Issuer and you.

  

			
	Very truly yours,
	
	AXA EQUITABLE HOLDINGS, INC.

 
			
	By:	 	/s/ Anders Malmström

 
			
	Name:	 	Anders Malmström
	Title:	 	 Senior Executive Vice President
 and Chief
Financial Officer

 [Signature Page to Registration Rights Agreement] 

 The foregoing Agreement is hereby confirmed and accepted as of the date first above written. 

 

			
	J.P. MORGAN SECURITIES LLC

  

			
	By:	 	/s/ Som Bhattacharyya

 
			
	Name:	 	Som Bhattacharyya
	Title:	 	Executive Director

  

			
	CITIGROUP GLOBAL MARKETS INC.

  

			
	By:	 	  

 
			
	Name:	 	
	Title:	 	

  

			
	WELLS FARGO SECURITIES, LLC

  

			
	By:	 	  

 
			
	Name:	 	
	Title:	 	

  

			
	As Representatives of the several Initial Purchasers named in Schedule 1 to the Purchase Agreement

 Signature Page to Registration Rights Agreement 

 The foregoing Agreement is hereby confirmed and accepted as of the date first above written. 

 

			
	J.P. MORGAN SECURITIES LLC

  

			
	By:	 	  

 
			
	Name:	 	
	Title:	 	

  

			
	CITIGROUP GLOBAL MARKETS INC.

  

			
	By:	 	/s/ Jack D. McSpadden, Jr.

 
			
	Name:	 	Jack D. McSpadden, Jr.
	Title:	 	Managing Director

  

			
	WELLS FARGO SECURITIES, LLC

  

			
	 By:
	 	
 

			
	Name:	 	
	Title:	 	

  

			
	As Representatives of the several Initial Purchasers named in Schedule 1 to the Purchase Agreement

 Signature Page to Registration Rights Agreement 

 The foregoing Agreement is hereby confirmed and accepted as of the date first above written. 

 

			
	J.P. MORGAN SECURITIES LLC

 
			
		
	By:	 	 

 
			
	Name:	 	
	Title:	 	
	
	CITIGROUP GLOBAL MARKETS INC.

 
			
		
	By:	 	 

 
			
	Name:	 	
	Title:	 	
	
	 WELLS FARGO SECURITIES,
LLC

 
			
		
	By:	 	/s/ Carolyn Hurley

 
			
	Name:	 	Carolyn Hurley
	Title:	 	Director
	
	As Representatives of the several Initial Purchasers named in Schedule I to the Purchase Agreement

  
 Signature Page to
Registration Rights Agreement 

 ANNEX A 

Each broker-dealer that receives New Notes for its own account pursuant to the Registered Exchange Offer must acknowledge that it will deliver
a prospectus in connection with any resale of such New Notes. The Letter of Transmittal states that by so acknowledging and by delivering a prospectus, a broker-dealer will not be deemed to admit that it is an
“underwriter” within the meaning of the Securities Act. This Prospectus, as it may be amended or supplemented from time to time, may be used by a broker-dealer in connection with resales of New Notes received in exchange for Original Notes
where such New Notes were acquired by such broker-dealer as a result of market-making activities or other trading activities. The Issuer has agreed that, starting on the Expiration Date and ending on the close of business on the day that is 90 days
following the Expiration Date, it will make this Prospectus available to any broker-dealer for use in connection with any such resale. See “Plan of Distribution.” 

 ANNEX B 

Each broker-dealer that receives New Notes for its own account in exchange for Original Notes, where such Original Notes were acquired by such
broker-dealer as a result of market-making activities or other trading activities, must acknowledge that it will deliver a prospectus in connection with any resale of such New Notes. See “Plan of
Distribution.” 

 ANNEX C 

PLAN OF DISTRIBUTION 
 Each
broker-dealer that receives New Notes for its own account pursuant to the Registered Exchange Offer must acknowledge that it will deliver a prospectus in connection with any resale of such New Notes. The Prospectus, as it may be amended or
supplemented from time to time, may be used by a broker-dealer in connection with resales of New Notes received in exchange for Original Notes where such Original Notes were acquired as a result of market-making activities or other trading
activities. The Issuer has agreed that, starting on the Expiration Date and ending on the close of business on the day that is 90 days following the Expiration Date, it will make this Prospectus, as amended or supplemented, available to any
broker-dealer for use in connection with any such resale. [In addition, until                 , 20     , all dealers effecting transactions in the
Exchange Securities may be required to deliver a prospectus.]1 
 The Issuer will not
receive any proceeds from any sale of New Notes by broker-dealers. New Notes received by broker-dealers for their own account pursuant to the Registered Exchange Offer may be sold from time to time in one or more transactions in the over-the-counter market, in negotiated transactions, through the writing of options on the New Notes or a combination of such methods of resale, at market prices prevailing at
the time of resale, at prices related to such prevailing market prices or negotiated prices. Any such resale may be made directly to purchasers or to or through brokers or dealers who may receive compensation in the form of commissions or
concessions from any such broker-dealer and/or the purchasers of any such New Notes. Any broker-dealer that resells New Notes that were received by it for its own account pursuant to the Registered Exchange Offer and any broker or dealer that
participates in a distribution of such New Notes may be deemed to be an “underwriter” within the meaning of the Securities Act and any profit of any such resale of New Notes and any commissions or concessions received by any such persons
may be deemed to be underwriting compensation under the Securities Act. The Letter of Transmittal states that by acknowledging that it will deliver and by delivering a prospectus, a broker-dealer will not be deemed to admit that it is an
“underwriter” within the meaning of the Securities Act. 
 For a period of 90 days after the Expiration Date, the Issuer will
promptly send additional copies of this Prospectus and any amendment or supplement to this Prospectus to any broker-dealer that requests such documents in the Letter of Transmittal. The Issuer has agreed to pay all expenses incident to the
Registered Exchange Offer (other than the expenses of counsel for the Holders of the Original Notes) other than commissions or concessions of any brokers or dealers and will indemnify the Holders of the Original Notes (including any broker-dealers)
against certain liabilities, including liabilities under the Securities Act. 
 [If applicable, add information required by Regulation S-K Items 507 and/or 508.] 
  

 

	1 	 In addition, the legend required by Item 502(e) of Regulation S-K, if
required under Rule 174, will appear on the back cover page of the Exchange Offer Prospectus. 

  
 -28- 

 ANNEX D 

Rider A 
 CHECK HERE IF
YOU ARE A BROKER-DEALER AND WISH TO RECEIVE TEN (10) ADDITIONAL COPIES OF THE PROSPECTUS AND TEN (10) COPIES OF ANY AMENDMENTS OR SUPPLEMENTS THERETO. 

Name:        
                                         
                                         
                                         
             
 Address:    
                                         
                                         
                                         
              
  

                  
                                         
                                         
                                         
              
 Rider B 

If the undersigned is not a broker-dealer, the undersigned represents that it acquired the New Notes in the ordinary
course of its business, it is not engaged in, and does not intend to engage in, a distribution of New Notes and it has no arrangements or understandings with any person to participate in a distribution of the New Notes. If the undersigned is a
broker-dealer that will receive New Notes for its own account in exchange for Original Notes, it represents that the Original Notes to be exchanged for New Notes were acquired by it as a result of market-making activities or other trading activities
and acknowledges that it will deliver a prospectus in connection with any resale of such New Notes; however, by so acknowledging and by delivering a prospectus, the undersigned will not be deemed to admit that it is an “underwriter” within
the meaning of the Securities Act.CALL OPTION AGREEMENT

 

AMONG

 

BEIJING EZAGOO SHOPPING HOLDING
LIMITED

 

RUIYIN (SHENZHEN) FINANCIAL
LEASING LIMITED

 

CHANGSHA EZAGOO TECHNOLOGY LIMITED

 

AND

 

HUNAN EZAGOO ZHICHENG
INTERNET TECHNOLOGY LIMITED

 

 

 

 

 

 

 

 

 

 

JULY 20, 2018

    	 

    	 

    

CALL OPTION AGREEMENT

 

 

This CALL OPTION AGREEMENT (this "AGREEMENT")
is entered into in China as of July 20, 2018 by and among the following Parties:

 

		(1)	BEIJING EZAGOO SHOPPING HOLDING LIMITED (“BESH”)

 

ADDRESS: ROOM 308, FLOOR 3, BUILDING 3, NO.
46, DONGSIXI AVENUE, DONGCHENG DISTRICT, BEIJING CIT

 

UNIFIED SOCIAL CREDIT CODE: 91110116339693336B

 

		(2)	RUIYIN (SHENZHEN) FINANCIAL LEASING LIMITED (“RFLL”)

 

ADDRESS: ROOM 201, BUILDING A, NO. 1, QIANWANYI
ROAD, SHENGANG COOPERATIVE DISTRICT, QIANHAI, SHENZHEN CITY

 

UNIFIED SOCIAL CREDIT CODE: 91440300MA5DFU2A6H

 

(3) CHANGSHA EZAGOO TECHNOLOGY LIMITED (“CETL”)

 

REGISTERED ADDRESS: ROOM 201, BUILDING 5, NANFENG SHIGUANGYUAN,
NO.168 TONGZIPO WEST ROAD, YUELU DISTRICT, CHANGSHA, HUNAN 410205, CHINA

 

UNIFIED SOCIAL CREDIT CODE: 91430100MA4PQE488X

 

		(4)	HUNAN EZAGOO ZHICHENG INTERNET TECHNOLOGY LIMITED ("HEZL")

 

REGISTERED
ADDRESS: YIJIAREN BUSINESS HOTEL NO. 168, UNIFIED
SOCIAL CREDIT CODE:

 

TONGZIPO WEST ROAD, YUELE DISTRICT, CHANGSHA, HUNAN
410205, CHINA

 

UNIFIED SOCIAL CREDIT CODE: 91430100395212760W

 

(The above parties shall hereinafter be individually
referred to as a "PARTY" and collectively, "PARTIES".)

 

 

WHEREAS

 

(1)  BESH
and RFLL are the enrolled Shareholder of the HEZL, legally holding all of the equity of the HEZL as of the execution date
of this Agreement.

 

(2)  As
of the date of this Agreement, BESH and RFLL are the enrolled
Shareholder of HEZL, legally holding all the equity in HEZL, of which BESH holding
80% interest, RFLL holding 20%.

 

(3)  The
Shareholders intend to transfer to CETL, and CETL is willing to accept, all his respective equity interest in the HEZL, to the
extent not violating laws of China.

 

(4) 
In order to conduct the above equity transfer, the Shareholders agree to grant CETL an irrevocable call option for equity
transfer (hereinafter the "CALL OPTION"), under which and to the extent permitted by laws of China, the Shareholder shall
on demand of CETL transfer the Option Equity (as defined below) to CETL in accordance with the provisions contained herein.

 

(5) 
HEZL intends to transfer to CETL all of its assets and liabilities to the extent not violating
laws of China. In order to conduct the above asset transfer, HEZL agrees to grant CETL an irrevocable call option for assets (hereinafter
the

 

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"ASSET CALL OPTION"), under which
and to the extent as permitted by laws of China, HEZL shall on demand of CETL transfers the assets and liabilities to CETL in accordance
with the provisions contained herein.

 

THEREFORE, the Parties hereby have reached the following agreement
upon mutual consultations:

 

ARTICLE 1 - DEFINITION

 

“RMB” shall mean the Renminbi, the lawful currency of
China.

 

"LAWS OF CHINA" shall mean the
then valid laws, administrative regulations, administrative rules, local regulations, judicial interpretations and other binding
regulatory documents of China.

 

"OPTION EQUITY" shall mean, in
respect of each of the Shareholder, all of the equity interest held thereby in HEZL registered capital.

 

"HEZL REGISTERED CAPITAL" shall
mean the registered capital of HEZL as of the execution date of this Agreement, i.e., RMB50,000,000, which shall include any expanded
registered capital as the result of any capital increase within the term of this Agreement.

 

"TRANSFERRED EQUITY" shall mean
the equity of HEZL which CETL has the right to require the Shareholder to transfer to it or its designated entity or individual
when CETL exercises its Call Option (hereinafter the "EXERCISE OF OPTION") in accordance with Article 3.2 herein, the
amount of which may be all or part of the Option Equity and the details of which shall be determined by CETL at its sole discretion
in accordance with the then valid Laws of China and from its commercial consideration.

 

"TRANSFER PRICE" shall mean all
the consideration that CETL or its designated entity or individual is required to pay to the Shareholder in order to obtain the
Transferred Equity upon each Exercise of Option. In spite of any provision herein, in case of CETL exercising the call option in
its sole discretion upon the occurrence of the situation in which such call option exercise become feasible under the relevant
laws in China, any additional consideration paid other than the RMB 1.00 which may be required under the laws of China to effect
such purchase to comply with such legal formalities shall be either cancelled or returned to the company immediately with no additional
compensation to the owners. The Shareholder hereby acknowledges the purpose of such provisions and hereby agrees and authorizes
the company to take any and all actions to effect such transaction and agrees irrevocably to execute any and all documents and
instruments and authorize CETL and its designated entity or individual to sign on his or his behalf and hereby gives the CETL and
its designated entity or individual a proxy to execute and deliver such documents and instruments to effect the purpose of this
provision and hereby waives any defense or claim of causes of action to challenge or defeat this provision. If there exists any
regulatory provision with respect to Transfer Price under the then Laws of China, CETL or its designated entity or individual shall
be entitled to determine the lowest price permitted by Laws of China as the Transfer Price.

 

"BUSINESS PERMITS" shall mean
any approvals, permits, filings, registrations etc. which HEZL is required to have for legally and validly operating its advertisement
designing, producing, agency, publishing and all such other businesses, including but not limited to the Business License of the
Cooperate Legal Person, the Tax Registration Certificate, the Permit for Operating Biotechnology Businesses and such other relevant
licenses and permits as required by the then Laws of China.

 

"HEZL ASSETS" shall mean all
the tangible and intangible assets which such HEZL owns or has the right to use during the term of this Agreement, including but
not limited to any immoveable and moveable assets, and such intellectual property rights as trademarks, copyrights, patents, proprietary
know-how, domain names and software use rights.

 

"THE MANAGEMENT SERVICES AGREEMENT"
shall mean the Management Services Agreement entered into among each party dated July 20, 2018.

 

 

 

 

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"MATERIAL AGREEMENT" shall mean
an agreement to which any HEZL is a party and which has a material impact on the businesses or assets of the HEZL, including but
not limited to the Management Services Agreement among the HEZL and CETL, and other agreements regarding the HEZL's business.

 

1.2 The references to any Laws of China herein shall be deemed

 

(1)  to
include the references to the amendments, changes, supplements and reenactments of such law, irrespective of whether they take
effect before or after the formation of this Agreement; and

 

(2)  to
include the references to other decisions, notices or regulations enacted in accordance therewith or effective as a result thereof.

 

1.3 Except as otherwise stated
in the context herein, all references to an Article, clause, item or paragraph shall refer to the relevant part of this Agreement.

ARTICLE 2 - GRANT OF CALL OPTION

 

The Parties agree that the Shareholder
exclusively grant CETL hereby irrevocably and without any additional conditions with a Call Option, under which CETL shall have
the right to require the Shareholder to transfer the Option Equity to CETL or its designated entity or individual in such method
as set out herein and as permitted by Laws of China. CETL also agrees to accept such Call Option.

 

In case of CETL exercising the call option
in its sole discretion upon the occurrence of the situation in which such call option exercise become feasible under the relevant
laws in China, any additional consideration paid other than the RMB 1.00 which may be required under the laws of China to effect
such purchase to comply with such legal formalities shall be either cancelled or returned to the company immediately with no additional
compensation to the HEZL and Shareholder. HEZL and Shareholder hereby acknowledge the purpose of such provisions and hereby agrees
and authorizes the company to take any and all actions to effect such transaction and agrees irrevocably to execute any and all
documents and instruments and authorize the company's relevant officers to sign on his or his behalf and hereby gives the company
and any of its relevant officers a proxy to execute and deliver such documents and instruments to effect the purpose of this provision
and hereby waives any defense or claim of causes of action to challenge or defeat this provision.

 

ARTICLE 3 - METHOD OF EXERCISE OF OPTION

 

3.1 To the extent permitted by Laws of
China, CETL shall have the sole discretion to determine the specific time, method and times of its Exercise of Option.

 

3.2 At each Exercise of Option by CETL,
the Shareholder shall transfer his respective equity in the HEZL to CETL and/or other entity or individual designated by it respectively
in accordance with the amount required in the Exercise Notice stipulated in Article 3.4. CETL and other entity or individual designated
by it shall pay the Transfer Price to the Shareholder who has transferred the Transferred Equity for the Transferred Equity accepted
in each Exercise of Option. CETL shall have the right to elect to pay the purchase price by settlement of certain credits held
by it or its affiliates to the Shareholder.

 

3.3 In each Exercise of Option,
CETL may accept the Transferred Equity by itself or designate any third party to accept all or part of the Transferred Equity.

 

3.4 On deciding each Exercise of Option,
CETL shall issue to the Shareholder a notice for exercising the Call Option (hereinafter the "EXERCISE NOTICE", the form
of which is set out as Appendix I hereto). The Shareholder shall, upon receipt of the Exercise Notice, forthwith transfer all the
Transferred Equity in accordance with the Exercise Notice to CETL and/or other entity or individual designated by CETL in such
method as described in Article 3.2 herein.

 

3.5 The Shareholder hereby undertakes and
guarantees that once CETL issues the Exercise Notice in respect to the specific Transferred Equity of the HEZL held by it:

 

 

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(1) 
it shall immediately hold or request to hold a Shareholder' meeting of the HEZL and adopt a resolution through the Shareholder'
meeting, and take all other necessary actions to agree to the transfer of all the Call Option to CETL and/or other entity or individual
designated by it at the Transfer Price and waive the possible preemption;

 

(2)  
it shall immediately enter into an equity transfer agreement with CETL and/or other entity or individual designated by it
for transfer of all the Transferred Equity to CETL and/or other entity or individual designated by it at the Transfer Price; and

 

(3) it shall provide CETL with necessary
support (including providing and executing all the relevant legal documents, processing all the procedures for government approvals
and registrations and bearing all the relevant obligations) in accordance with the requirements of CETL and of the laws and regulations,
in order that CETL and/or other entity or individual designated by it may take all the Transferred Equity free from any legal defect.

 

3.6 At the meantime of this Agreement,
the Shareholder shall respectively enter into a power of attorney (hereinafter the "POWER OF ATTORNEY", the form of which
is set out as Appendix II hereto), authorizing in writing any person designated by CETL to, on behalf of such Shareholder, to enter
into any and all of the legal documents in accordance with this Agreement so as to ensure that CETL and/or other entity or individual
designated by it take all the Transferred Equity free from any legal defect. Such Power of Attorney shall be delivered for custody
by CETL and CETL may, at any time if necessary, require the Shareholder to enter into multiple copies of the Power of Attorney
respectively and deliver the same to the relevant government department.

 

ARTICLE 4 - ASSET CALL OPTION

 

HEZL and the Shareholder hereby
further undertake to grant CETL irrevocably an option to purchase assets within the term of this Agreement: to the extent not violating
the mandatory requirements under Laws of China, HEZL will transfer all of its assets and liabilities to CETL and/or other entity
or individual designated by it when required by CETL.

 

In case of the CETL exercising
the Asset Call Option in its sole discretion upon the occurrence of the situation in which such call option exercise become feasible
under the relevant laws in China, any additional consideration paid other than the RMB 1.00 which may be required under the laws
of China to effect such purchase to comply with such legal formalities shall be either cancelled or returned to the company immediately
with no additional compensation to the HEZL and Shareholder. HEZL and Shareholder hereby acknowledge the purpose of such provisions
and hereby agree and authorize the company to take any and all actions to effect such transaction and agrees irrevocably to execute
any and all documents and instruments and authorize the company's relevant officers to sign on his or his behalf and hereby gives
the company and any of its relevant officers a proxy to execute and deliver such documents and instruments to effect the purpose
of this provision and hereby waives any defense or claim of causes of action to challenge or defeat this provision.

 

ARTICLE 5 - REPRESENTATIONS AND WARRANTIES

 

5.1 Shareholder hereby represents and warrants in respect to itself
and the HEZL in which she holds equity as follows:

 

5.1.1 The
Shareholder is a Chinese citizen with full capacity, with full and independent legal status and legal capacity to execute,
deliver and perform this Agreement, and may act independently as a litigant party.

The Shareholder has full power
and authorization to execute and deliver this Agreement and all the other documents to be entered into by it in relation to the
transaction referred to herein, and it has the full power and authorization to complete the transaction referred to herein.

 

5.1.2 This Agreement is executed
and delivered by Shareholder legally and properly. This Agreement constitutes the legal and binding obligations on Shareholder
and is enforceable on it in accordance with its terms and conditions. The Shareholder are the enrolled legal owner of the Option
Equity as of the effective date of this Agreement, and except the rights created by this Agreement, the Shareholder' Voting Rights
Proxy Agreement entered into by Shareholder, CETL and HEZL dated July 20,2018 (the "PROXY AGREEMENT"), the Equity Pledge
Agreement entered into by Shareholder, CETL, the HEZL dated July 20,2018 (the "EQUITY PLEDGE AGREEMENT"), there is no
lien, pledge, claim and other encumbrances

 

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and third party rights on the
Option Equity. In accordance with this Agreement, CETL and/or other entity or individual designated by it may, after the Exercise
of Option, obtain the proper title to the Transferred Equity free from any lien, pledge, claim and other encumbrances and third
party rights.

 

5.1.3 HEZL shall obtain complete
Business Permits as necessary for its operations upon this Agreement taking effect, and HEZL shall have sufficient rights and qualifications
to operate within China the businesses of producing and selling of biotechnology products and other business relating to its current
business structure. HEZL has conducted its business legally since its establishment and has not incurred any cases which violate
or may violate the regulations and requirements set forth by the departments of commerce and industry, tax, culture, news, quality
technology supervision, labor and social security and other governmental departments or any disputes in respect of breach of contract.

 

 

5.2 HEZL hereby represents and warrants as follows:

 

5.2.1 HEZL is a limited liability
company operation duly registered and validly existing under Laws of China, with independent status as a legal person; HEZL has
full and independent legal status and legal capacity to execute, deliver and perform this Agreement, and may act independently
as a subject of actions.

 

5.2.2 HEZL has full power and
authorization to execute and deliver this Agreement and all the other documents to be entered into by it in relation to the transaction
referred to herein, and it has the full power and authorization to complete the transaction referred to herein.

 

5.2.3 This Agreement is executed
and delivered by HEZL legally and properly. This Agreement constitutes legal and binding obligations on it.

 

5.2.4 The Shareholder is the
enrolled legal shareholder of the Option Equity when this Agreement comes into effect, except the rights created by this Agreement,
the Proxy Agreement, the Equity Pledge Agreement, there is no lien, pledge, claim and other encumbrances and third party rights
on the Option Equity. In accordance with this Agreement, CETL and/or other entity or individual designated by it may, upon the
Exercise of Option, obtain the proper title to the Transferred Equity free from any lien, pledge, claim and other encumbrances
and third party rights.

 

5.2.5 HEZL shall obtain complete
Business Permits as necessary for its Operations upon this Agreement taking effect, and HEZL shall have sufficient rights and qualifications
to operate within China the businesses of health and care and other business relating to its current business structure. HEZL has
conducted its business legally since its establishment and has not incurred any cases which violate or may violate the regulations
and requirements set forth by the departments of commerce and industry, tax, culture, news, quality technology supervision, labor
and social security and other governmental departments or any disputes in respect of breach of contract.

 

5.3 CETL hereby represents and warrants as follows:

 

5.3.1 CETL is a company with
limited liability properly registered and legally existing under Laws of China, with an independent status as a legal person. CETL
has full and independent legal status and legal capacity to execute, deliver and perform this Agreement and may act independently
as a subject of actions.

 

5.3.2 CETL has full power and
authorization to execute and deliver this Agreement and all the other documents to be entered into by it in relation to the transaction
referred to herein, and it has the full power and authorization to complete the transaction referred to herein.

 

ARTICLE 6 - UNDERTAKINGS BY THE SHAREHOLDER

 

6.1 The Shareholder hereby undertakes
within the term of this Agreement that it must take all necessary measures to ensure that HEZL is able to obtain all the Business
Permits necessary for its business in a timely manner and all the Business Permits remain in effect at any time.

 

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6.2 The Shareholder hereby undertakes within the term
of this Agreement that without the prior written consent by CETL,

 

6.2.1 no Shareholder shall
transfer or otherwise dispose of any Option Equity or create any encumbrance or other third party rights on any Option Equity;

 

6.2.2 it shall not increase or decrease the HEZL
Registered Capital or cast affirmative vote regarding the aforesaid increase or decrease in registered capital;

 

6.2.3 it shall not dispose of or cause the management
of HEZL to dispose of any of the HEZL Assets (except as occurs during the arm’s length operations);

 

6.2.4 it shall not terminate
or cause the management of HEZL to terminate any Material Agreements entered into by HEZL, or enter into any other Material Agreements
in conflict with the existing Material Agreements;

 

6.2.5 it shall not cause HEZL
to conduct any transactions that may substantively affect the asset, liability, business operation, equity structure, equity of
a third party and other legal rights (except those occurring during the arm's length operations or daily operation, or having been
disclosed to and approved by CETL in writing);

 

6.2.6 it shall not appoint
or cancel or replace any executive directors or members of board of directors (if any), supervisors or any other management personnel
of HEZL to be appointed or dismissed by the Shareholder;

 

6.2.7 it shall not announce
the distribution of or in practice release any distributable profit, dividend or share profit or cast affirmative votes regarding
the aforesaid distribution or release;

 

6.2.8 it shall ensure that HEZL shall validly exist and
prevent it from being terminated, liquidated or dissolved;

 

6.2.9 it shall not amend the
Articles of Association of HEZL or cast affirmative votes regarding such amendment;

 

6.2.10 it shall ensure that
HEZL shall not lend or borrow any money, or provide guarantee or engage in security activities in any other forms, or bear any
substantial obligations other than on the arm's length basis; and

 

6.3 The Shareholder hereby undertakes
that it must make all its efforts during the term of this Agreement to develop the business of HEZL, and ensure that the operations
of HEZL are legal and in compliance with the regulations and that it shall not engage in any actions or omissions which might harm
the HEZL Assets or its credit standing or affect the validity of the Business Permits of HEZL.

 

6.4 Without limiting the generality
of Article 6.3 above, considering the fact that the Shareholder of HEZL sets aside all the equity interest held thereby in HEZL
as security to secure the performance by HEZL of the obligations under the Management Services Agreement, the performance of such
Shareholder of the obligations under the Proxy Agreement, the Shareholder undertakes to, within the term of this Agreement, make
full and due performance of any and all of the obligations on the part thereof under the Proxy Agreement, and to procure the full
and due performance of HEZL of any and all of its obligations under the Management Services Agreement and warrants that no adverse
impact on exercising the rights under this Agreement by CETL will be incurred due to the breach by the Shareholder of the Proxy
Agreement or the breach of the HEZL of the Management Services Agreement.

 

6.5 HEZL undertakes that, before
its Exercise of Option and acquire all equity of HEZL, HEZL shall not do the following:

 

6.5.1 Sell, transfer, mortgage or dispose by other
way any assets, business, revenue or other legal rights of HEZL, or permit creating any encumbrance or other third party's interest
on such assets, business, revenue

 

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or other legal rights (except
as occurs during the arm's length or operations or daily operation, or as is disclosed to CETL and approved by CETL in writing);

 

6.5.2 conduct any transactions
that may substantively affect the asset, liability, business operation, equity structure, equity of a third party and other legal
rights (except those occurring during the arm's length operations or daily operation, or having been disclosed to CETL and approved
by CETL in writing);

 

6.5.3 release any dividend or share profit to the Shareholder
or cause the HEZL to do so in any form.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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ARTICLE 7 - CONFIDENTIALITY

 

7.1 Notwithstanding the termination of
this Agreement, the Shareholder shall be obligated to keep in confidence the following information (hereinafter collectively the
"CONFIDENTIAL 1NFORMATION"): (i) information on the execution, performance and the contents of this Agreement; (ii) the
commercial secret, proprietary information and customer information in relation to CETL known to or received by it as the result
of execution and performance of this Agreement; and (iii) the commercial secrets, proprietary information and customer information
in relation to HEZL known to or received by it as the shareholder of HEZL.

 

The Shareholder may use such Confidential
Information only for the purpose of performing its obligations under this Agreement. The Shareholder shall not disclose the above
Confidential Information to any third parties without the written consent from CETL, or they shall bear the default liability and
indemnify the losses.

 

7.2 Upon termination of this Agreement,
the Shareholder shall, upon demand by CETL, return, destroy or otherwise dispose of all the documents, materials or software containing
the Confidential Information and suspend using such Confidential Information.

 

7.3 Notwithstanding any other provisions
herein, the validity of this Article shall not be affected by the suspension or termination of this Agreement.

 

ARTICLE 8 - TERM OF AGREEMENT

 

This Agreement shall take effect as of
the date of formal execution by the Parties. This Agreement shall terminate when all the Option Equity of HEZL held by the Shareholder
is legally transferred under the name of CETL and/or other entity or individual designated by it in accordance with the provisions
of this Agreement.

 

ARTICLE 9 - NOTICE

 

9.1 Any notice, request, demand and other
correspondences made as required by or in accordance with this Agreement shall be made in writing and delivered to the relevant
Party.

 

9.2 The abovementioned notice or other
correspondences shall be deemed to have been delivered when it is transmitted if transmitted by facsimile or telex; it shall be
deemed to have been delivered when it is delivered if delivered in person; it shall be deemed to have been delivered five (5) days
after posting the same if posted by mail.

 

ARTICLE 10 - LIABILITY FOR BREACH OF CONTRACT

 

10.1 The Parties agree and confirm that,
if any party (hereinafter the "DEFAULTING PARTY") breaches substantially any of the provisions herein or omits substantially
to perform any of the obligations hereunder, or fails substantially to perform any of the obligations under this Agreement, such
a breach or omission shall constitute a default under this Agreement (hereinafter a "DEFAULT"), then non-defaulting Party
shall have the right to require the Defaulting Party to rectify such Default or take remedial measures within a reasonable period.
If the Defaulting Party fails to rectify such Default or take remedial measures within such reasonable period or within ten (10)
days of non-defaulting Party's notifying the Defaulting Party in writing and requiring it to rectify the Default, then non-defaulting
Party shall have the right at its own discretion to select any of the following remedial measures:

 

		(1)	to terminate this Agreement and require the Defaulting Party to indemnify it for all the damage; or

 

(2) 
mandatory performance of the obligations of the Defaulting Party hereunder and require the Defaulting Party to indemnify
it for all the damage.

 

10.2 Without limiting the generality of
Article 10.1, any breach of the Proxy Agreement, the Equity Pledge Agreement shall be deemed as having constituted the breach by
such Shareholder of this Agreement; and any breach by HEZL of any provision in the Management Services Agreement, if attributable
to the failure of the Shareholder to perform the obligations thereof under Article 6.4 hereof, shall be deemed as having constituted
the breach by such Shareholder of this Agreement.

 

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10.3 The Parties agree and confirm that
in no circumstances shall the Shareholder request the termination of this Agreement for any reason, except otherwise stipulated
by law or this Agreement.

 

10.4 Notwithstanding any other
provisions herein, the validity of this Article shall stand disregarding the suspension or termination of this Agreement.

 

ARTICLE 11 - MISCELLANEOUS

 

11.1 This Agreement shall be prepared
in English language.

 

11.2 The formation, validity, execution,
amendment, interpretation and termination of this Agreement shall be subject to Laws of China.

 

11.3 Any disputes
arising from and in connection with this Agreement shall be settled through consultations among the Parties involved, and if the
Parties involved fail to reach an agreement regarding such a dispute within thirty (30) days of its occurrence, such dispute shall
be submitted to Kuala Lumpur Regional Centre for Arbitration for arbitration in Kuala Lumpur accordance with the arbitration rules
of such commission, and the arbitration award shall be final and binding on all the Parties involved.

 

11.4 Any rights, powers and remedies empowered
to any Party by any provisions herein shall not preclude any other rights, powers and remedies enjoyed by such Party in accordance
with laws and other provisions under this Agreement, and the exercise of its rights, powers and remedies by a Party shall not preclude
its exercise of its other rights, powers and remedies by such Party.

 

11.5 Any failure or delay by a Party in
exercising any of its rights, powers and remedies hereunder or in accordance with laws (hereinafter the “PARTY’S RIGHTS”)
shall not lead to a waiver of such rights, and the waiver of any single or partial exercise of the Party's Rights shall not preclude
such Party from exercising such rights in any other way and exercising the remaining part of the Party's Rights.

 

11.6 The titles of the Articles contained
herein shall be for reference only, and in no circumstances shall such titles be used in or affect the interpretation of the provisions
hereof.

 

11.7 Each provision contained herein shall
be severable and independent from each of other provisions, and if at any time any one or more articles herein become invalid,
illegal or unenforceable, the validity, legality or enforceability of the remaining provisions herein shall not be affected as
a result thereof.

 

11.8 Upon execution, this Agreement shall
substitute any other legal documents previously executed by the Parties on the same subject.

 

11.9 Any amendments or supplements
to this Agreement shall be made in writing and shall take effect only when properly signed by the Parties to this Agreement.

 

11.10 Without prior written consent by
CETL, the Shareholder shall not transfer to any third party any of its right and/or obligation under this Agreement, CETL shall
have the right to transfer to any third party designated by it any of its right and/or obligation under this Agreement after notice
to the Shareholder.

 

11.11 This Agreement shall be binding on the legal successors of
the Parties.

 

 

[The remainder of this page is left blank]

 

 

 

 

 

 

 

9

 

 

 

IN WITNESS HEREOF, the Parties have caused this Call Option Agreement
to be executed in China as of the date first herein above mentioned.

 

 

 

For and on behalf of

BEIJING EZAGOO SHOPPING HOLDING LIMITED (Company chop)

	Signature by: 	 /s/Tan Xiaohao
	Name: 	 Tan Xiaohao
	Position: 	Authorized Representative

 

 

For and on behalf of

RUIYIN (SHENZHEN) FINANCIAL LEASING LIMITED (Company chop)

 

	Signature by: 	 /s/ Wan Weihong
	Name: 	 Wan Weihong
	Position: 	Authorized Representative

 

 

For and on behalf of

CHANGSHA EZAGOO TECHNOLOGY LIMITED (Company chop)

 

 

	Signature by: 	 /s/Tan Xiaohao
	Name: 	 Tan Xiaohao
	Position:  	Authorized Representative

 

 

For and on behalf of

HUNAN EZAGOO ZHICHENG INTERNET TECHNOLOGY LIMITED (Company chop)

 

 

	Signed by:	/s/ Zhang Qianwan
	Name:	 Zhang Qianwan
	Position: 	Authorized Representative

    	 

    	 

    

APPENDIX I:

 

FORMAT OF THE OPTION EXERCISE NOTICE

 

To: BEIJING EZAGOO SHOPPING HOLDING LIMITED

 

As our company and you signed a Call Option
Agreement as of July 20, 2018 (hereinafter the "OPTION AGREEMENT"), and reached an agreement that you shall transfer
the equity you hold in HUNAN EZAGOO ZHICHENG INTERNET TECHNOLOGY LIMITED (hereinafter the "HEZL") to our company or any
third parties designated by our company on demand of our company to the extent as permitted by Laws of China and regulations, Therefore,
our company hereby gives this Notice to you as follows:

 

Our company hereby requires to exercise
the Call Option under the Option Agreement and CHANGSHA EZAGOO TECHNOLOGY LIMITED, designated by our company shall accept the equity
you hold accounting for 80% of in HUNAN EZAGOO ZHICHENG INTERNET TECHNOLOGY LIMITED Registered Capital (hereinafter the "PROPOSED
ACCEPTED EQUITY"). You are required to forthwith transfer all the Proposed Accepted Equity to CHANGSHA EZAGOO TECHNOLOGY LIMITED
upon receipt of this Notice in accordance with the agreed terms in the Option Agreement.

 

Best regards,

 

For and on behalf of

CHANGSHA EZAGOO TECHNOLOGY LIMITED (Company chop)

 

 

 

 

 

Authorized Representative:

 

Date:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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To: RUIYIN (SHENZHEN) FINANCIAL LEASING LIMITED

 

As our company and you signed a Call Option
Agreement as of July 20, 2018 (hereinafter the "OPTION AGREEMENT"), and reached an agreement that you shall transfer
the equity you hold in HUNAN EZAGOO ZHICHENG INTERNET TECHNOLOGY LIMITED (hereinafter the "HEZL") to our company or any
third parties designated by our company on demand of our company to the extent as permitted by Laws of China and regulations, Therefore,
our company hereby gives this Notice to you as follows:

 

Our company hereby requires to exercise
the Call Option under the Option Agreement and CHANGSHA EZAGOO TECHNOLOGY LIMITED, designated by our company shall accept the equity
you hold accounting for 20% of in HUNAN EZAGOO ZHICHENG INTERNET TECHNOLOGY LIMITED Registered Capital (hereinafter the "PROPOSED
ACCEPTED EQUITY"). You are required to forthwith transfer all the Proposed Accepted Equity to CHANGSHA EZAGOO TECHNOLOGY LIMITED
upon receipt of this Notice in accordance with the agreed terms in the Option Agreement.

 

Best regards,

 

For and on behalf of

CHANGSHA EZAGOO TECHNOLOGY LIMITED (Company chop)

 

 

 

 

 

Authorized Representative:

 

Date:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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APPENDIX II:

 

FORM OF THE POWER OF ATTORNEY

 

I, __________________________________ ,
hereby irrevocably entrust __________________ [with his/her identity card number of______________], as the authorized representative
of me, to sign the Equity Transfer Agreement and other relevant legal documents between me and _________________ regarding the
Equity Transfer of HUNAN EZAGOO ZHICHENG INTERNET TECHNOLOGY LIMITED .

 

Signature:

 

Date:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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