Document:

EX-4.5

 Exhibit 4.5 

COORDINATION AGREEMENT 
 by and
among 
 THE AEA INVESTORS, 

THE OTPP INVESTORS 
 and 

THE TCP INVESTORS 
 with respect
to 
 TRAEGER, INC. 
 Dated as
of [____], 2021 

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
	 Section 1.
	  	 Effectiveness; Definitions
	  	 	1	 
	 Section 2.
	  	 Transfers
	  	 	1	 
	 Section 3.
	  	 Remedies
	  	 	4	 
	 Section 4.
	  	 Successors and Assigns
	  	 	5	 
	 Section 5.
	  	 Amendment, Termination, Etc.
	  	 	5	 
	 Section 6.
	  	 Definitions
	  	 	5	 
	 Section 7.
	  	 General
	  	 	7	 

 Exhibit A Assumption Agreement 

 COORDINATION AGREEMENT 

This COORDINATION AGREEMENT, dated as of [____], 2021 (as amended, restated, modified or supplemented from time to time, this
“Agreement”), is entered into by and among (i) the AEA Investors (as defined below), (ii) the OTPP Investors (as defined below) and (iii) the TCP Investors (as defined below) (collectively, the
“Sponsors”). 
 RECITALS 

A. WHEREAS, TPG Holdings LP, a Delaware limited partnership and the direct parent of Traeger, Inc., a Delaware corporation (the “Company”),
the Sponsors and the other parties named therein (collectively, the “Holders”) are parties to that certain Amended and Restated Limited Partnership Agreement of the Company, dated as of September 25, 2017 (as amended, restated,
modified, or supplemented from time to time, the “Limited Partnership Agreement”); 
 B. WHEREAS, the Company is proposing to consummate an
initial public offering of shares of its common stock, par value $0.01 (the “Common Stock”) (the “IPO”); 
 C. WHEREAS, the
Company, the Sponsors and the other parties named therein are parties to that certain Registration Rights Agreement, dated as of the date hereof (as amended, restated, modified, or supplemented from time to time, the “Registration Rights
Agreement”), establishing and setting forth their agreement with respect to registration rights associated with the ownership of shares of Common Stock of the Company; and 

D. WHEREAS, the Sponsors desire to memorialize agreements regarding certain matters, including the coordination of certain sales of Registrable Securities (as
such term is defined in the Registration Rights Agreement) following the IPO. 
 NOW, THEREFORE, in consideration of the premises and of the
mutual covenants and obligations hereinafter set forth, the parties hereto hereby agree as follows: 
 Section 1. Effectiveness;
Definitions. 
 1.1. Closing. This Agreement shall become effective upon the closing of the IPO (the “Closing”).
If the Closing does not occur, the provisions of this Agreement shall be without any force or effect. 
 1.2. Definitions. Capitalized
terms used herein shall have the meanings assigned to such terms in Section 6 hereof, provided, however, that capitalized terms used but not defined herein shall have the meanings assigned to such terms in the Registration Rights
Agreement. 
 Section 2. Transfers. 

2.1. Registered Transfers. No Sponsor shall Transfer any or all of its Registrable Securities after the Closing in a registered Sale
made pursuant to an effective registration statement under the Securities Act, other than in compliance with the Registration Rights Agreement. 

  
 1 

 2.2. Rule 144 Transfers. No Sponsor shall Transfer any or all of its Registrable
Securities after the Closing pursuant to Rule 144 under the Securities Act (“Rule 144”), other than in compliance with this Section 2.2, and each Sponsor shall use reasonable efforts to coordinate any such Transfer of
Registrable Securities pursuant to Rule 144 (“144 Coordination”) until such time when such Sponsor and any of the other Sponsors cease to comprise a “group” within the meaning of the Exchange Act. Registrable Securities
Transferred pursuant to Rule 144 shall conclusively be deemed thereafter not to be Registrable Securities under this Agreement. 

2.2.1. For so long as 144 Coordination is in effect with respect to any Sponsor, such Sponsor shall provide each other Sponsor
with at least two (2) Business Days’ prior notice (a “144 Notice”) when it wishes to Sell Registrable Securities under Rule 144; provided, that, without the consent of each of the other Sponsors, for any given
measurement period for purposes of the group volume limit pursuant to Rule 144 (the “Rule 144 Group Volume Limit”), except as provided in Section 2.3.1, no holder of Registrable Securities shall be permitted to effect Transfers
in excess of its pro rata share of all Registrable Securities that may be Transferred by members of the Related Group during the applicable measurement period based on its percentage ownership of Registrable Securities held by the members of the
Related Group at the start of such measurement period. Each 144 Notice shall specify (i) the earliest time at which such Sponsor intends to commence Sales pursuant to this Section 2.2.1 (the “Time of First Sale”), (ii)
whether such a Sale will commence a new measurement period for purposes of the Rule 144 Group Volume Limit or is part of such a continuing measurement period previously commenced by another 144 Notice, and (iii) the pro rata share of the Rule
144 Group Volume Limit attributable to each Sponsor for that measurement period, determined as of its commencement. In order to facilitate the calculation of such pro rata rights under this Agreement, each Sponsor agrees to provide current
information regarding its holdings of Registrable Securities to any other Sponsor from time to time upon the reasonable request of such other Sponsor. In the event that any Sponsor agrees to forego its full pro rata share of the Rule 144 Group
Volume Limit by written notice to the other Sponsors, the remainder shall be reallocated to the other Sponsors in like manner. If any Transfer pursuant to Rule 144 has not been consummated by the fifth
(5th) Business Day after the Time of First Sale specified in the applicable 144 Notice (the “144 Expiration Date”), the Sponsor that delivered such 144 Notice shall be required to
either (x) extend the existing 144 Notice no later than the 144 Expiration Date or (y) deliver a new 144 Notice before proceeding with any Transfer pursuant to Rule 144. 

2.2.2. The provisions of this Section 2.2 shall not apply to any Transfer of Registrable Securities at any time with
respect to which 144 Coordination is not effective. 
 2.2.3. Notwithstanding the foregoing, any Sponsor may opt out of 144
Coordination with respect to any period of time if such holder of Registrable Securities delivers a notice to the other Sponsors irrevocably committing not to Transfer any Registrable Securities pursuant to Rule 144 during such period of time. 

  
 2 

 2.3. Partner Distributions. For so long as 144 Coordination is in effect, each
Sponsor shall provide at least five (5) Business Days’ notice to the other Sponsors in advance of any Partner Distribution by such Sponsor, and, until the second anniversary of the Closing, no Partner Distribution shall be made by the OTPP
Investors or the TCP Investors without the prior written consent of the AEA Investors. 
 2.3.1. For purposes of this
Agreement, so long as 144 Coordination is in effect, Partner Distributions shall be limited to the number of Registrable Securities that the applicable holder of Registrable Securities would have been permitted to Transfer under Rule 144 pursuant to
the proviso in the first sentence of Section 2.2.1, and, for purposes of this Agreement, will reduce on a Registrable Security for Registrable Security basis the number of Registrable Securities that such holder of Registrable Securities is
permitted to Sell under Rule 144, whether individually or as part of a Related Group, to the extent such Partner Distribution is required by law to be taken into account for purposes of the Rule 144 Group Volume Limit applicable to such Related
Group. 
 2.4. Private Sales. Each Sponsor, at such Sponsor’s option, may, with respect to its Registrable Securities,
participate proportionately (as provided for below), and the Prospective Selling Sponsor (as defined below) shall allow each other Sponsor to participate in, any proposed Transfer by a Sponsor (the “Prospective Selling Sponsor”) of
any or all of its Registrable Securities for cash or other consideration after the Closing (other than any Transfer (i) to any of such Sponsor’s Affiliates, or (ii) pursuant to Sections 2.1, 2.2 or 2.3) whether pursuant to a stock
sale, merger, consolidation, a tender or exchange offer, unregistered block trade or any other transaction (a “Private Sale”). The Prospective Selling Sponsor shall notify each other Sponsor in writing of such Prospective Selling
Sponsor’s intention to effect such Private Sale, the identity of the Person to which such Registrable Securities would be Transferred in the contemplated Private Sale (the “Proposed Transferee”) and the nature and per share
amount of consideration to be paid by the Proposed Transferee, at least ten (10) Business Days before the closing of any such proposed Private Sale. Any sale of Registrable Securities by any Sponsor exercising its rights pursuant to this
Section 2.4 (each, a “Tagging Stockholder”) shall be for the same price and form of consideration per share, on substantially the same terms and subject to substantially the same conditions as the sale of Registrable Securities
owned by the Prospective Selling Sponsor; provided, that (a) with respect to any indemnification obligations, no Tagging Stockholder shall be obligated to assume joint and several liability with respect to such indemnification obligations but
shall be obligated only with respect to its proportionate share of any escrow and indemnification obligations and for all indemnification obligations with respect to matters that are personal to such Tagging Stockholder, capped at that portion of
the aggregate purchase price that such Tagging Stockholder or its designees actually receive, (b) notwithstanding the foregoing, such Tagging Stockholder shall not be required to make any representations, warranties, covenants or indemnities
relating to any other Sponsor, the Company or any of its Affiliates or Subsidiaries other than with respect to such Tagging Stockholder’s ownership of, and ability to sell (including authority to enter into any related agreement), such Tagging
Stockholder’s Registrable Securities and (c) no Tagging Stockholder shall be required to agree to any covenant restricting the ability of such Tagging Stockholder to compete with the Company or its Affiliates or to solicit or hire the
employees of the Company or its Affiliates. Each Tagging Stockholder shall be entitled to sell up to that number of its Registrable Securities (rounded up to the nearest whole number) which is equal to the same percentage of its Registrable
Securities as the Prospective Selling Sponsor sells of its Registrable Securities in such Private Sale (determined on the basis of the aggregate number of Registrable Securities 

  
 3 

 
owned and the aggregate number of such Registrable Securities being sold by the Prospective Selling Sponsor), but not in excess of the aggregate number of such Tagging Stockholder’s
Registrable Securities (for the avoidance of doubt, such calculation shall exclude equity of any Subsidiary which may be held by a Sponsor)). If a Tagging Stockholder sells any Registrable Securities in a Private Sale pursuant to this
Section 2.4, such Tagging Stockholder shall pay and be responsible for such Tagging Stockholder’s proportionate share of the reasonable out-of-pocket costs
incurred by the Proposed Selling Sponsor in connection with the Private Sale. 
 2.4.1. The rights provided by
Section 2.4 must be exercised by a Tagging Stockholders within ten (10) Business Days following receipt of the notice required by the preceding sentence by delivery of an irrevocable written notice to the Prospective Selling Sponsor
indicating such Tagging Stockholder’s exercise of its rights and specifying the maximum number of Registrable Securities it desires to sell. The Tagging Stockholder shall be entitled under Section 2.4 to Transfer to the Proposed Transferee
the number of Registrable Securities determined in accordance with the foregoing paragraph. 
 2.4.2. If a Tagging
Stockholder exercises its rights under Section 2.4, the closing of the purchase of the Registrable Securities with respect to which such rights have been exercised is subject to, and shall take place concurrently with, the closing of the
Private Sale. If the closing of the Private Sale does not occur within 120 days after the Tagging Stockholder’s receipt of a written notice of such Private Sale pursuant to Section 2.4, the Tagging Stockholder may withdraw from the Private
Sale by providing written notice to the Prospective Selling Sponsor within ten (10) Business Days after the expiration of such 120-day period. 

Section 3. Remedies. 

The rights and remedies provided by this Agreement are cumulative and the use of any one right or remedy by any party shall not preclude or
waive the right to use any or all other remedies. Said rights and remedies are given in addition to any other rights the parties may have under law or otherwise. The parties hereto agree that irreparable damage would occur in the event that any of
the provisions of this Agreement were not performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed that each party hereto shall be entitled to, and each party consents to, the entry of an injunction or
injunctions to prevent breaches of this Agreement and any appropriate equitable remedy, including specific performance of this Agreement and the enjoining of any continuing breach of this Agreement, without the necessity of proving monetary damages
or the posting of any bond, in addition to any other remedy at law to which an aggrieved party may be entitled. If any action should be brought in equity to enforce any of the provisions of this Agreement, none of the parties hereto shall raise the
defense that there is an adequate remedy at law. 

  
 4 

 Section 4. Successors and Assigns. 

Except as otherwise provided herein, this Agreement shall be binding upon and inure to the benefit of and be enforceable by the parties hereto
and the respective successors, permitted assigns, heirs and personal representatives of the parties hereto, whether so expressed or not. No Sponsor shall have the right to assign all or part of its rights and obligations under this Agreement without
the prior written consent of each of the other Sponsors; provided, however, that any Sponsor may assign this Agreement to one or more of its Permitted Affiliate Transferees, without the prior written consent of the other Sponsors;
provided, further, that such Sponsors’ Permitted Affiliate Transferee(s) executes and delivers to the Company an Assumption Agreement; provided, further, that the assigning Sponsor shall not be liable for any obligations hereunder
of the transferee, other than respect to any transferee that is an Affiliate of the assigning Sponsor. Upon any such assignment to an assigning Sponsor’s Permitted Affiliate Transferee(s), such assignee shall have and be able to exercise and
enforce all rights of the assigning Holder which are assigned to it and, to the extent such rights are assigned, any reference to the assigning Holder shall be treated as a reference to the assignee. If any Sponsor shall acquire additional
Registrable Securities, such Registrable Securities shall be subject to all of the terms, and entitled to all the benefits, of this Agreement. 

Section 5. Amendment, Termination, Etc.  

5.1. Amendments and Waivers. This Agreement may be amended, modified, extended or terminated only by an agreement in writing signed by
each Sponsor. Each such amendment, modification, extension or termination shall be binding upon each party hereto. In addition, each party hereto may waive any right hereunder by an instrument in writing signed by such party. This Agreement may not
be orally amended, modified, extended or terminated, nor shall any oral waiver of its terms be effective. No waiver of any of the provisions of this Agreement shall be deemed to or shall constitute a waiver of any other provision hereof (whether or
not similar). No failure or delay on the part of any party in exercising any right, power or privilege hereunder shall operate as a waiver thereof or of any other or future exercise of any such right, power or privilege. 

5.2. Withdrawal from Agreement. Any Sponsor that, together with its Affiliates, holds less than three percent (3%) of the aggregate
then-outstanding shares of Common Stock may withdraw from this Agreement and terminate this Agreement with respect to such Sponsor and its Affiliates upon written notice to each of the other Sponsors; provided, however, that, as of
such time, such Sponsor ceases to comprise a “group” within the meaning of the Exchange Act with any of the other Sponsors. 

Section 6. Definitions. The following terms shall have the following meanings: 

“144 Coordination” shall have the meaning set forth in Section 2.2. 

“144 Expiration Date” shall have the meaning set forth in Section 2.2.1. 

“144 Notice” shall have the meaning set forth in Section 2.2.1. 

“AEA” means AEA Investors LP, a Delaware limited partnership. 

“AEA Investors” means (i) AEA, (ii) AEA TGP Holdco LP, (iii) any general or limited partnership, corporation or
limited liability company having as a general partner, controlling equity holder or managing member (whether directly or indirectly) a Person who is a general partner, controlling equity holder or managing member (whether directly or indirectly) of
any Person 

  
 5 

 
described in clause (i) or (ii) or an Affiliate of such Person and (iv) any Permitted Affiliate Transferee of any of the foregoing that executes an Assumption Agreement;
provided, that for the avoidance of doubt, for purposes of this definition neither “AEA Investors” nor Affiliates thereof shall include any portfolio company of AEA. 

“Affiliate” as applied to any Person, means any other Person directly or indirectly controlling, controlled by, or under
common control with, that Person. For the purposes of this definition “control” (including, with correlative meanings, the terms “controlling,” “controlled by” and “under common control with”), as applied
to any Person, means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of that Person, whether through the ownership of voting securities (the ownership of more than 50% of the
voting securities of an entity shall for purposes of this definition be deemed to be “control”), by contract or otherwise. For the avoidance of doubt, neither the Company nor any Person controlled by the Company shall be deemed to be
an Affiliate of any Sponsor. 
 “Agreement” shall have the meaning set forth in the Preamble. 

“Assumption Agreement” means an agreement in the form set forth in Exhibit A hereto whereby a Permitted
Affiliate Transferee of a Sponsor who acquires such Registrable Securities becomes a party to, and agrees to be bound, to the same extent as its transferor, by the terms of this Agreement. For the avoidance of doubt, (i) if the transferor of
such shares was an OTTP Investor or TCP Investor (as defined below), such transferee will be subject to the same rights and obligations as such transferring Sponsor, or (ii) if the transferor of such shares was an AEA Investor, such transferee
will be subject to the same (except as otherwise provided in such Assumption Agreement) rights and obligations of an AEA Investor. 

“Block Trade” means a block sale bought deal or non-marketed underwritten offering of
Registrable Securities. 
 “Business Day” means a day, other than Saturday, Sunday or other day on which commercial banks
in New York, New York are authorized or required by law to close. 
 “Company” shall have the meaning set forth in the
Recitals. 
 “OTPP Investors” means 2594868 Ontario Limited (or any successor thereof) and any Permitted Affiliate
Transferee of 2594868 Ontario Limited (or any successor thereof) that executes an Assumption Agreement; provided, that, for the avoidance of doubt, for purposes of this definition neither “OTPP Investors” nor Affiliates thereof
shall include any portfolio company of Ontario Teachers’ Pension Plan Board. 
 “Partner Distribution” means a
distribution to, and registered resale by, the members, partners or other equity holders of a holder of Registrable Securities. 

“Permitted Affiliate Transferee” means any Affiliate of any Sponsor to which such Sponsor has transferred all or a portion of
its Registrable Securities, and which has executed an Assumption Agreement. 

  
 6 

 “Private Sale” shall have the meaning set forth in Section 2.4. 

“Proposed Transferee” shall have the meaning set forth in Section 2.4. 

“Prospective Selling Sponsor” shall have the meaning set forth in Section 2.4. 

“Related Group” shall mean, with respect to any Rule 144 measurement period, any Sponsor, or any of their respective
Affiliates, other than those (i) who have agreed to forego their full pro rata share of the Rule 144 Group Volume Limit in accordance with the penultimate sentence of Section 2.2.1 or (ii) who have opted out of 144 Coordination
pursuant to Section 2.2.3. 
 “Sale” shall mean a Transfer for value and the terms “Sell” and
“Sold” shall have correlative meanings. 
 “Sponsors” shall have the meaning set forth in the Preamble. 

“Tagging Stockholder” shall have the meaning set forth in Section 2.4. 

“TCP Investors” means TCP Traeger Holdings SPV LLC, a Delaware limited liability company (or any successor thereof) and any
Permitted Affiliate Transferee of TCP Traeger Holdings SPV LLC (or any successor thereof) that executes an Assumption Agreement; provided, that, for the avoidance of doubt, for purposes of this definition neither “TCP Investor” nor
Affiliates thereof shall include any portfolio company of TCP. 
 “Time of First Sale” shall have the meaning set forth in
Section 2.2.1. 
 “Transfer” shall mean any sale, pledge, assignment, encumbrance or other transfer or disposition of
any Registrable Securities to any other Person, whether directly, indirectly, voluntarily, involuntarily, by operation of law, pursuant to judicial process or otherwise. 

Section 7. General. 

7.1. Notices. All notices, requests, demands, claims and other communications hereunder shall be in writing. Any notice, request,
demand, claim or other communication shall be deemed duly given (i) if personally delivered, on the date of delivery, (ii) if delivered by express courier service of national standing (with charges prepaid), on the Business Day following
the date of delivery to such courier service, (iii) if deposited in the United States mail, first-class postage prepaid, on the fifth (5th) Business
Day following the date of such deposit, (iv) if delivered by facsimile transmission, upon confirmation of successful transmission, (x) on the date of such transmission, if such transmission is completed at or prior to 5:00 p.m., local time
of the recipient party on a Business Day, on the date of such transmission, and (y) on the next Business Day following the date of transmission, if such transmission is completed after 5:00 p.m., local time of the recipient party, on the date
of such transmission or is transmitted on a day that is not a Business Day, or (v) if via e-mail communication, on the date of delivery. All notices, demands and other communications hereunder shall be
delivered as set forth below and to any other recipient at the address indicated below or pursuant to such other instructions as may be designated in writing by the party to receive such notice 

  
 7 

	
	 if to the AEA Investors, to:

	
	 AEA Investors L.P.

	 520 Madison Avenue, 40th Floor

	 New York, NY 10022

	 Attention:     Barbara L. Burns

	 Fax:              (212) 702-0518

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

	
	 Fried, Frank, Harris, Shriver & Jacobson LLP

	 One New York Plaza

	 New York, New York 10004

	 Telephone:     (212)
859-8000

	 Fax:
               (212) 859-4000

	 Attention:       Steven J. Steinman

	                       Randi Lally
	
	 if to the OTPP Investors, to:

	
	 c/o Ontario Teachers’ Pension Plan

	 5650 Yonge Street

	 Toronto, Ontario M2M 4H5

	 Attention: Harj Shoan

	 Telephone:     (416)
730-3510

	 Fax:
               (416) 730-3771

	 Email:
           harj_shoan@otpp.com

	                      law_investments@otpp.com
	
	 with a copy (which shall not constitute notice) to:

	
	 Torys LLP

	 79 Wellington Street West, Suite 3000

	 Toronto, Ontario M5K 1N2

	 Attention:       Laurie N. Duke

	 Telephone:    
416-865-7348

	 Fax:                416-865-7380

	 Email:
           lduke@torys.com

	
	 if to the TCP Investors, to:

	
	 c/o Trilantic Capital Partners

	 375 Park Avenue, 30th Floor

	 New York, NY 10152

	 Attention:         James Manges,

	                          Grant Palmer
	 Facsimile:         (646)
368-6988

	
E-mail:            
 JManges@trilantic.com,

  
 8 

	
	grant.palmer@trilantic.com
	
	 with a copy (which shall not constitute notice) to:

	
	 Kirkland & Ellis LLP

	 601 Lexington Ave.

	 New York, New York 10022

	 Telephone:      (212)
446-4800

	 Fax:
                (212) 446-6460

	 Attention:         Christopher J. Torrente,

	 Email:
              christopher.torrente@kirkland.com

 7.2. Entire Agreement. This Agreement, the Registration Rights Agreement, the Limited Partnership
Agreement and the other documents referred to herein or delivered pursuant hereto which form part hereof contains the entire understanding among the parties hereto with respect to the subject matter hereof and supersedes any prior agreement between
the parties hereto concerning the subject matter hereof. 
 7.3. Interpretation; Construction. 

(a) The table of contents and headings in this Agreement are for convenience of reference only, do not constitute part of this Agreement and
shall not be deemed to limit or otherwise affect any of the provisions hereof. Where a reference in this Agreement is made to a Section, such reference shall be to a Section of this Agreement unless otherwise indicated. Whenever the words
“include,” “includes” or “including” are used in this Agreement, they shall be deemed to be followed by the words “without limitation.” In the construction of this Agreement, the neutral gender will include
the feminine or the masculine in cases where such meanings would be appropriate. 
 (b) The parties have participated jointly in negotiating
and drafting this Agreement. In the event that an ambiguity or a question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the parties, and no presumption or burden of proof shall arise favoring or
disfavoring any party by virtue of the authorship of any provision of this Agreement. 
 7.4. Counterparts. This Agreement may be
executed and delivered in any number of separate counterparts (including by facsimile or electronic mail), each of which shall be an original, but all of which together shall constitute one and the same agreement. 

7.5. Severability. The provisions of this Agreement shall be deemed severable and the invalidity or unenforceability of any provision
shall not affect the validity or enforceability of the other provisions hereof. If any provision of this Agreement, or the application thereof to any person or any circumstance, is invalid or unenforceable, (a) a suitable and equitable
provision shall be substituted therefor in order to carry out, so far as may be valid and enforceable, the intent and purpose of such invalid or unenforceable provision and (b) the remainder of this Agreement and the application of such
provision to other persons or circumstances shall not be affected by such invalidity or unenforceability, nor shall such invalidity or unenforceability affect the validity or enforceability of such provision, or the application thereof, in any other
jurisdiction. 

  
 9 

 7.6. Further Assurances. Each party hereto shall do and perform or cause to be done
and performed all such further acts and things and shall execute and deliver all such other agreements, certificates, instruments, and documents as any other party hereto reasonably may request in order to carry out the intent and accomplish the
purposes of this Agreement and the consummation of the transactions contemplated hereby. 
 7.7. Nominees for Beneficial Owners. If
Registrable Securities are held by a nominee for the beneficial owner thereof, the beneficial owner thereof may, at its option, be treated as the Holder of such Registrable Securities for purposes of any request or other action by any Holder or
Holders of Registrable Securities pursuant to this Agreement (or any determination of any number or percentage of shares constituting Registrable Securities held by any Holder or Holders of Registrable Securities contemplated by this Agreement) 

7.8. Aggregation of Registrable Securities. All Registrable Securities held by a Sponsor and its Affiliates shall be aggregated together
for purposes of determining the availability of any rights under this Agreement. 
 7.9. Governing Law; Submission to Jurisdiction; Waiver
of Jury Trial. This Agreement shall be governed by, and construed in accordance with, the internal laws of the State of New York. Each of the Parties irrevocably submits to the exclusive jurisdiction of the Commercial Division of the New York
Supreme Court located in in the Borough of Manhattan in the City of New York and the United States District Court for the Southern District of New York for the purpose of any suit, action, proceeding or judgment relating to or arising out of this
Agreement and the transactions contemplated hereby. Service of process in connection with any such suit, action or proceeding may be served on each Party anywhere in the world by the same methods as are specified for the giving of notices under this
Agreement. Each of the Parties irrevocably waives any objection to the laying of venue of any such suit, action or proceeding brought in such courts and irrevocably waives any claim that any such suit, action or proceeding brought in any such court
has been brought in an inconvenient forum. EACH OF THE PARTIES HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT TO REQUEST A TRIAL BY JURY IN ANY LITIGATION WITH RESPECT TO THIS AGREEMENT.  

[Signature pages follow] 

  
 10 

 IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the date
first above written. 
 AEA INVESTORS: 
  

			
	 AEA TGP HOLDCO
LP

 
			
		
	By:	 	  

 
			
	 Name:
	 	
	 Title:
	 	

 [Signature Page to Coordination Agreement] 

 OTPP INVESTORS: 

 

			
	 2594868 ONTARIO
LIMITED

 
			
		
	By:	 	  

 
			
	 Name:
	 	
	 Title:
	 	

 [Signature Page to Coordination Agreement] 

 TCP INVESTORS: 

 

			
	 TCP TRAEGER HOLDINGS SVP
LLC

 
			
		
	By:	 	  

 
			
	 Name:
	 	
	 Title:
	 	

 [Signature Page to Coordination Agreement] 

 Exhibit A 

ASSUMPTION AGREEMENT 

This Assumption Agreement (this “Assumption Agreement”) is made as of [_____], by and among [_____] (the
“Transferring Holder”) and [_____], an Affiliate of the Transferring Holder (the “New Holder”), in accordance with that certain Coordination Agreement, dated as of [_____] (as amended from time to time, the
“Agreement”), by and among the AEA Investors, the TCP Investors and the OTPP Investors. 
 WHEREAS, the Agreement
requires the New Holder, as a condition to the assignment of Transferring Holders rights under the Agreement, to become a party to the Agreement by executing this Assumption Agreement, and upon the New Holder signing this Assumption Agreement, the
Agreement will be deemed to be amended to include the New Holder as a [AEA Investor/TCP Investor/OTPP Investor] thereunder. 
 NOW,
THEREFORE, in consideration of the foregoing, and of the representations, warranties, covenants and agreements contained herein, and intending to be legally bound hereby, the parties hereto agree as follows: 

Section 1. Party to the Agreement. By execution of this Assumption Agreement, as of the date hereof the New Holder is hereby made
a party to the Agreement as a [AEA Investor /TCP Investor/OTPP Investor]. The New Holder hereby agrees to become a party to the Agreement and to be bound by, and subject to, all of the representations, covenants, terms and conditions of the
Agreement that are applicable to, and assignable under the Agreement by, the Transferring Holder, in the same manner as if the New Holder were an original signatory to the Agreement. Execution and delivery of this Assumption Agreement by the New
Holder shall also constitute execution and delivery by the New Holder of the Agreement, without further action of any party. 

Section 2. Defined Terms. Capitalized terms used but not defined herein shall have the meanings set forth in the Agreement unless
otherwise noted. 
 Section 3. Representations and Warranties of the New Holder. 

3.1. Authorization. The New Holder has all requisite [corporate] power and authority and has taken all action necessary in order to
duly and validly approve the New Holder’s execution and delivery of, and performance of its obligations under, this Assumption Agreement. This Assumption Agreement has been duly executed and delivered by the New Holder and constitutes a legal,
valid and binding agreement of the New Holder, enforceable against the New Holder in accordance with its terms. 
 3.2. No Conflict.
The New Holder is not under any obligation or restriction, whether or otherwise, nor shall it assume any such obligation or restriction, that does or would materially interfere or conflict with the performance of its obligations under this
Assumption Agreement. 
 Section 4. Further Assurances. Each party hereto shall do and perform or cause to be done and performed
all such further acts and things and shall execute and deliver all such other agreements, certificates, instruments, and documents as any other party hereto reasonably may request in order to carry out the intent and accomplish the purposes of this
Assumption Agreement and the consummation of the transactions contemplated hereby. 

  
 Exhibit A 

 Section 5. Governing Law. 

This Assumption Agreement and all amendments and supplements to it, including any issues as to the meaning or validity of any part of it and
the rights and obligations of the parties under it, and all actions or proceedings of any nature whatsoever arising out of or relating to this Assumption Agreement, shall be construed in accordance with and governed by the domestic substantive Laws
of the State of Delaware without giving effect to any choice of Law or conflicts of Law provision or rule that might otherwise cause the application of the domestic substantive Laws of any other jurisdiction. 

Section 6. Counterparts. This Assumption Agreement may be executed and delivered in any number of separate counterparts (including
by facsimile or electronic mail), each of which shall be an original, but all of which together shall constitute one and the same agreement. 

Section 7. Entire Agreement. This Assumption Agreement, the Agreement and the other documents referred to herein or delivered
pursuant hereto which form part hereof contains the entire understanding among the parties with respect to the subject matter hereof and supersede any prior agreement between the parties hereto concerning the subject matter hereof. 

[Signature Pages Follow] 

  
 Exhibit A 

 IN WITNESS WHEREOF, intending to be legally bound hereby, the undersigned parties
have executed this Assumption Agreement as of the date first above written. 
  

	
	 TRANSFERRING HOLDER

	
	 [_____]

	
	 By:___________________________

	 Name:

	 Title:

	
	 NEW HOLDER

	
	 [_____]

	
	 By:___________________________

	 Name:

	 Title:

	
	 Notice Address: [_____]

	 [_____]

	 [_____]

	 Attn: [_____]

	 Facsimile: [_____]EX-10.1

 Exhibit 10.1 

INDEMNIFICATION AND ADVANCEMENT AGREEMENT 

This Indemnification and Advancement Agreement (“Agreement”) is made as of
[ 🌑 ], 2021 by and between Traeger, Inc., a Delaware corporation (the “Company”), and ______________, [a member of the Board of Directors/an officer/an employee] of the Company
(“Indemnitee”). This Agreement supersedes and replaces any and all previous Agreements between the Company and Indemnitee covering indemnification and advancement. 

RECITALS 
 WHEREAS, the
Board of Directors of the Company (the “Board”) believes that highly competent persons have become more reluctant to serve publicly-held corporations as directors, officers, or in other capacities unless they are provided with adequate
protection through insurance or adequate indemnification and advancement of expenses against inordinate risks of claims and actions against them arising out of their service to and activities on behalf of the corporation; 

WHEREAS, the Board has determined that, in order to attract and retain qualified individuals, the Company will attempt to maintain on an
ongoing basis, at its sole expense, liability insurance to protect persons serving the Company and its subsidiaries from certain liabilities. Although the furnishing of such insurance has been a customary and widespread practice among United
States-based corporations and other business enterprises, the Company believes that, given current market conditions and trends, such insurance may be available to it in the future only at higher premiums and with more exclusions. At the same time,
directors, officers, and other persons in service to corporations or business enterprises are being increasingly subjected to expensive and time-consuming litigation relating to, among other things, matters that traditionally would have been brought
only against the Company or business enterprise itself. The Bylaws (the “Bylaws”) and the Certificate of Incorporation of the Company (the “Certificate of Incorporation”) require indemnification of the officers and directors of
the Company. Indemnitee may also be entitled to indemnification pursuant to the General Corporation Law of the State of Delaware (the “DGCL”). The Bylaws, Certificate of Incorporation, and the DGCL expressly provide that the
indemnification provisions set forth therein are not exclusive, and thereby contemplate that contracts may be entered into between the Company and members of the board of directors, officers and other persons with respect to indemnification and
advancement of expenses; 
 WHEREAS, the uncertainties relating to such insurance, to indemnification, and to advancement of expenses may
increase the difficulty of attracting and retaining such persons; 
 WHEREAS, the Board has determined that the increased difficulty in
attracting and retaining such persons is detrimental to the best interests of the Company and its stockholders and that the Company should act to assure such persons that there will be increased certainty of such protection in the future; 

WHEREAS, it is reasonable, prudent and necessary for the Company contractually to obligate itself to indemnify, and to advance expenses on
behalf of, such persons to the fullest extent permitted by applicable law so that they will serve or continue to serve the Company free from undue concern that they will not be so indemnified; 

 WHEREAS, this Agreement is a supplement to and in furtherance of the Bylaws, Certificate of
Incorporation and any resolutions adopted pursuant thereto, and is not a substitute therefor, nor diminishes or abrogates any rights of Indemnitee thereunder; and 

WHEREAS, Indemnitee does not regard the protection available under the Bylaws, Certificate of Incorporation, DGCL and insurance as adequate in
the present circumstances, and may not be willing to serve or continue to serve as an officer or director without adequate additional protection, and the Company desires Indemnitee to serve or continue to serve in such capacity. Indemnitee is
willing to serve, continue to serve and to take on additional service for or on behalf of the Company on the condition that Indemnitee be so indemnified and be advanced expenses. 

NOW, THEREFORE, in consideration of the premises and the covenants contained herein, the Company and Indemnitee do hereby covenant and agree
as follows: 
 Section 1. Services to the Company. Indemnitee agrees to serve as [a/an] [director/officer/employee] of the
Company. Indemnitee may at any time and for any reason resign from such position (subject to any other contractual obligation or any obligation imposed by operation of law). This Agreement does not create any obligation on the Company to continue
Indemnitee in such position and is not an employment contract between the Company (or any of its subsidiaries or any Enterprise) and Indemnitee. 

Section 2. Definitions. As used in this Agreement: 

(a) “Agent” means any person who is authorized by the Company or an Enterprise to act for or represent the interests of the Company
or an Enterprise, respectively. 
 (b) A “Change in Control” occurs upon the earliest to occur after the date of this Agreement of
any of the following events: 
 i. Acquisition of Stock by Third Party. Any Person (as defined below) is or becomes the Beneficial Owner
(as defined below), directly or indirectly, of securities of the Company representing fifteen percent (15%) or more of the combined voting power of the Company’s then outstanding securities unless the change in relative beneficial ownership of
the Company’s securities by any Person results solely from a reduction in the aggregate number of outstanding shares of securities entitled to vote generally in the election of directors; 

ii. Change in Board of Directors. During any period of two (2) consecutive years (not including any period prior to the execution of
this Agreement), individuals who at the beginning of such period constitute the Board, and any new director (other than a director designated by a person who has entered into an agreement with the Company to effect a transaction described in
Sections 2(b)(i), 2(b)(iii) or 2(b)(iv)) whose election by the Board or nomination for election by the Company’s stockholders was approved by a vote of at least two-thirds of the directors then still in
office who either were directors at the beginning of the period or whose election or nomination for election was previously so approved, cease for any reason to constitute at least a majority of the members of the Board; 

  
 -2- 

 iii. Corporate Transactions. The effective date of a merger or consolidation of the Company
with any other entity, other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior to such merger or consolidation continuing to represent (either by remaining outstanding or by being
converted into voting securities of the surviving entity) more than 50% of the combined voting power of the voting securities of the surviving entity outstanding immediately after such merger or consolidation and with the power to elect at least a
majority of the board of directors or other governing body of such surviving entity; 
 iv. Liquidation. The approval by the stockholders
of the Company of a complete liquidation of the Company or an agreement for the sale or disposition by the Company of all or substantially all of the Company’s assets; and 

v. Other Events. There occurs any other event of a nature that would be required to be reported in response to Item 6(e) of Schedule 14A of
Regulation 14A (or a response to any similar item on any similar schedule or form) promulgated under the Exchange Act (as defined below), whether or not the Company is then subject to such reporting requirement. 

vi. For purposes of this Section 2(b), the following terms have the following meanings: 

 

	 	1	 “Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time.

  

	 	2	 “Person” has the meaning as set forth in Sections 13(d) and 14(d) of the Exchange Act; provided,
however, that Person excludes (i) the Company, (ii) any trustee or other fiduciary holding securities under an employee benefit plan of the Company, and (iii) any corporation owned, directly or indirectly, by the stockholders of the
Company in substantially the same proportions as their ownership of stock of the Company. 

  

	 	3	 “Beneficial Owner” has the meaning given to such term in Rule
13d-3 under the Exchange Act; provided, however, that Beneficial Owner excludes any Person otherwise becoming a Beneficial Owner by reason of the stockholders of the Company approving a merger of the Company
with another entity. 

 (c) “Corporate Status” describes the status of a person who is or was acting as a
director, officer, employee, fiduciary, or Agent of the Company or an Enterprise. 
 (d) “Disinterested Director” means a director
of the Company who is not and was not a party to the Proceeding in respect of which indemnification is sought by Indemnitee. 

  
 -3- 

 (e) “Enterprise” means any other corporation, limited liability company,
partnership, joint venture, trust, employee benefit plan or other entity for which Indemnitee is or was serving at the request of the Company as a director, officer, employee, or Agent. 

(f) “Expenses” includes all reasonable attorneys’ fees, retainers, court costs, transcript costs, fees of experts and other
professionals, witness fees, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees, any federal, state, local or foreign taxes imposed on Indemnitee as a result of the actual or deemed
receipt of any payments under this Agreement, ERISA excise taxes and penalties, and all other disbursements or expenses of the types customarily incurred in connection with prosecuting, defending, preparing to prosecute or defend, investigating,
being or preparing to be a witness in, or otherwise participating in, a Proceeding. Expenses also include (i) Expenses incurred in connection with any appeal resulting from any Proceeding, including without limitation the premium,
security for, and other costs relating to any cost bond, supersedeas bond, or other appeal bond or its equivalent, and (ii) for purposes of Section 14(d) only, Expenses incurred by Indemnitee in connection with the interpretation,
enforcement or defense of Indemnitee’s rights under this Agreement, by litigation or otherwise. The parties agree that for the purposes of any advancement of Expenses for which Indemnitee has made written demand to the Company in accordance
with this Agreement, all Expenses included in such demand that are certified by affidavit of Indemnitee’s counsel as being reasonable in the good faith judgment of such counsel will be presumed conclusively to be reasonable. Expenses, however,
do not include amounts paid in settlement by Indemnitee or the amount of judgments or fines against Indemnitee. 
 (g) “Independent
Counsel” means a law firm, or a member of a law firm, that is experienced in matters of corporation law and neither presently is, nor in the past five years has been, retained to represent: (i) the Company or Indemnitee in any matter
material to either such party (other than with respect to matters concerning the Indemnitee under this Agreement, or of other indemnitees under similar indemnification agreements), or (ii) any other party to the Proceeding giving rise to a
claim for indemnification hereunder. Notwithstanding the foregoing, the term “Independent Counsel” does not include any person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest
in representing either the Company or Indemnitee in an action to determine Indemnitee’s rights under this Agreement. 
 (h) Reserved.

 (i) The term “Proceeding” includes any threatened, pending or completed action, suit, claim, counterclaim, cross claim,
arbitration, mediation, alternate dispute resolution mechanism, investigation, inquiry, administrative hearing or any other actual, threatened or completed proceeding, whether brought in the right of the Company or otherwise and whether of a civil,
criminal, administrative, legislative, or investigative (formal or informal) nature, including any appeal therefrom, in which Indemnitee was, is or will be involved as a party, potential party, non-party
witness or otherwise by reason of Indemnitee’s Corporate Status or by reason of any action taken by Indemnitee (or a failure to take action by Indemnitee) or of any action (or failure to act) on Indemnitee’s part while acting pursuant to
Indemnitee’s Corporate Status, in each case whether or not serving in such capacity at the time any liability or Expense is incurred for which indemnification, reimbursement, or advancement of Expenses can be provided under this Agreement. A
Proceeding also includes a situation the Indemnitee believes in good faith may lead to or culminate in the institution of a Proceeding. 

  
 -4- 

 (j) “Sponsor Entities” means AEA TGP Holdco LP, 2594868 Ontario Limited and TCP
Traeger Holdings SPV LLC 
 Section 3. Indemnity in Third-Party Proceedings. The Company will indemnify Indemnitee in accordance
with the provisions of this Section 3 if Indemnitee is, or is threatened to be made, a party to or a participant in any Proceeding, other than a Proceeding by or in the right of the Company to procure a judgment in its favor. Pursuant to this
Section 3, the Company will indemnify Indemnitee to the fullest extent permitted by applicable law against all Expenses, judgments, fines and amounts paid in settlement (including all interest, assessments and other charges paid or payable in
connection with or in respect of such Expenses, judgments, fines and amounts paid in settlement) actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection with such Proceeding or any claim, issue or matter therein,
if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Company and, in the case of a criminal Proceeding had no reasonable cause to believe that Indemnitee’s conduct
was unlawful. 
 Section 4. Indemnity in Proceedings by or in the Right of the Company. The Company will indemnify Indemnitee in
accordance with the provisions of this Section 4 if Indemnitee is, or is threatened to be made, a party to or a participant in any Proceeding by or in the right of the Company to procure a judgment in its favor. Pursuant to this Section 4,
the Company will indemnify Indemnitee to the fullest extent permitted by applicable law against all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection with such Proceeding or any claim, issue or
matter therein, if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Company. The Company will not indemnify Indemnitee for Expenses under this Section 4 related
to any claim, issue or matter in a Proceeding for which Indemnitee has been finally adjudged by a court to be liable to the Company, unless, and only to the extent that, the Delaware Court of Chancery or any court in which the Proceeding was brought
determines upon application by Indemnitee that, despite the adjudication of liability but in view of all the circumstances of the case, Indemnitee is fairly and reasonably entitled to indemnification. 

Section 5. Indemnification for Expenses of a Party Who is Wholly or Partly Successful. To the fullest extent permitted by
applicable law, the Company will indemnify Indemnitee against all Expenses actually and reasonably incurred by Indemnitee in connection with any Proceeding the extent that Indemnitee is successful, on the merits or otherwise. If Indemnitee is not
wholly successful in such Proceeding but is successful, on the merits or otherwise, as to one or more but less than all claims, issues or matters in such Proceeding, the Company will indemnify Indemnitee against all Expenses actually and reasonably
incurred by Indemnitee or on Indemnitee’s behalf in connection with or related to each successfully resolved claim, issue or matter to the fullest extent permitted by law. For purposes of this Section 5 and without limitation, the
termination of any claim, issue or matter in such a Proceeding by dismissal, with or without prejudice, will be deemed to be a successful result as to such claim, issue or matter. 

  
 -5- 

 Section 6. Indemnification For Expenses of a Witness. To the fullest extent
permitted by applicable law, the Company will indemnify Indemnitee against all Expenses actually and reasonably incurred by Indemnitee or on Indemnitee’s behalf in connection with any Proceeding to which Indemnitee is not a party but to which
Indemnitee is a witness, deponent, interviewee, or otherwise asked to participate. 
 Section 7. Partial Indemnification. If
Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for some or a portion of Expenses, but not, however, for the total amount thereof, the Company will indemnify Indemnitee for the portion thereof to which
Indemnitee is entitled. 
 Section 8. Additional Indemnification. Notwithstanding any limitation in Sections 3, 4, or 5, the
Company will indemnify Indemnitee to the fullest extent permitted by applicable law (including but not limited to, the DGCL and any amendments to or replacements of the DGCL adopted after the date of this Agreement that expand the Company’s
ability to indemnify its officers and directors) if Indemnitee is a party to or threatened to be made a party to any Proceeding (including a Proceeding by or in the right of the Company to procure a judgment in its favor). 

Section 9. Exclusions. Notwithstanding any provision in this Agreement, the Company is not obligated under this Agreement to make
any indemnification payment to Indemnitee in connection with any Proceeding: 
 (a) for which payment has actually been made to or on behalf
of Indemnitee under any insurance policy or other indemnity provision, except to the extent provided in Section 16(b) and except with respect to any excess beyond the amount paid under any insurance policy or other indemnity provision; or 

(b) for (i) an accounting of profits made from the purchase and sale (or sale and purchase) by Indemnitee of securities of the Company
within the meaning of Section 16(b) of the Exchange Act (as defined in Section 2(b) hereof) or similar provisions of state statutory law or common law, (ii) any reimbursement of the Company by the Indemnitee of any bonus or other
incentive-based or equity-based compensation or of any profits realized by the Indemnitee from the sale of securities of the Company, as required in each case under the Exchange Act (including any such reimbursements that arise from an accounting
restatement of the Company pursuant to Section 304 of the Sarbanes-Oxley Act of 2002 (the “Sarbanes-Oxley Act”), or the payment to the Company of profits arising from the purchase and sale by Indemnitee of securities in violation of
Section 306 of the Sarbanes-Oxley Act) or (iii) any reimbursement of the Company by Indemnitee of any compensation pursuant to any compensation recoupment or clawback policy adopted by the Board or the compensation committee of the Board,
including but not limited to any such policy adopted to comply with stock exchange listing requirements implementing Section 10D of the Exchange Act; or 

(c) initiated by Indemnitee, including any Proceeding (or any part of any Proceeding) initiated by Indemnitee against the Company or its
directors, officers, employees or other indemnitees, unless (i) the Proceeding or part of any Proceeding is to enforce Indemnitee’s rights to indemnification or advancement, of Expenses, including a Proceeding (or any part of any
Proceeding) initiated pursuant to Section 14 of this Agreement, (ii) the Board authorized the Proceeding (or any part of any Proceeding) prior to its initiation or (iii) the Company provides the indemnification, in its sole
discretion, pursuant to the powers vested in the Company under applicable law. 

  
 -6- 

 Section 10. Advances of Expenses. 

(a) The Company will advance, to the extent not prohibited by law, the Expenses incurred by Indemnitee in connection with any Proceeding (or
any part of any Proceeding) not initiated by Indemnitee or any Proceeding (or any part of any Proceeding) initiated by Indemnitee if (i) the Proceeding or part of any Proceeding is to enforce Indemnitee’s rights to obtain indemnification
or advancement of Expenses from the Company or Enterprise, including a proceeding initiated pursuant to Section 14 or (ii) the Board authorized the Proceeding (or any part of any Proceeding) prior to its initiation. The Company will
advance the Expenses within thirty (30) days after the receipt by the Company of a statement or statements requesting such advances from time to time, whether prior to or after final disposition of any Proceeding. 

(b) Advances will be unsecured and interest free. Indemnitee undertakes to repay the amounts advanced (without interest) to the extent that it
is ultimately determined that Indemnitee is not entitled to be indemnified by the Company, thus Indemnitee qualifies for advances upon the execution of this Agreement and delivery to the Company. No other form of undertaking is required other than
the execution of this Agreement. The Company will make advances without regard to Indemnitee’s ability to repay the Expenses and without regard to Indemnitee’s ultimate entitlement to indemnification under the other provisions of this
Agreement.     
 Section 11. Procedure for Notification of Claim for Indemnification or Advancement. 

(a) Indemnitee will notify the Company in writing of any Proceeding with respect to which Indemnitee intends to seek indemnification or
advancement of Expenses hereunder as soon as reasonably practicable following the receipt by Indemnitee of written notice thereof. Indemnitee will include in the written notification to the Company a description of the nature of the Proceeding and
the facts underlying the Proceeding and provide such documentation and information as is reasonably available to Indemnitee and is reasonably necessary to determine whether and to what extent Indemnitee is entitled to indemnification following the
final disposition of such Proceeding. Indemnitee’s failure to notify the Company will not relieve the Company from any obligation it may have to Indemnitee under this Agreement, and any delay in so notifying the Company will not constitute a
waiver by Indemnitee of any rights under this Agreement. The Secretary of the Company will, promptly upon receipt of such a request for indemnification or advancement, advise the Board in writing that Indemnitee has requested indemnification or
advancement. 
 (b) The Company will be entitled to participate in the Proceeding at its own expense. 

  
 -7- 

 Section 12. Procedure Upon Application for Indemnification. 

(a) Unless a Change in Control has occurred, the determination of Indemnitee’s entitlement to indemnification will be made: 

i. by a majority vote of the Disinterested Directors, even though less than a quorum of the Board; 

ii. by a committee of Disinterested Directors designated by a majority vote of the Disinterested Directors, even though less than a quorum of
the Board; 
 iii. if there are no such Disinterested Directors or, if such Disinterested Directors so direct, by written opinion provided
by Independent Counsel selected by the Board; or 
 iv. if so directed by the Board, by the stockholders of the Company. 

(b) If a Change in Control has occurred, the determination of Indemnitee’s entitlement to indemnification will be made by written opinion
provided by Independent Counsel selected by Indemnitee (unless Indemnitee requests such selection be made by the Board) 
 (c) The party
selecting Independent Counsel pursuant to subsection (a)(iii) or (b) of this Section 12 will provide written notice of the selection to the other party. The notified party may, within ten (10) days after receiving written notice of
the selection of Independent Counsel, deliver to the selecting party a written objection to such selection; provided, however, that such objection may be asserted only on the ground that the Independent Counsel so selected does not
meet the requirements of “Independent Counsel” as defined in Section 2 of this Agreement, and the objection will set forth with particularity the factual basis of such assertion. Absent a proper and timely objection, the person so
selected will act as Independent Counsel. If such written objection is so made and substantiated, the Independent Counsel so selected may not serve as Independent Counsel unless and until such objection is withdrawn or the Delaware Court has
determined that such objection is without merit. If, within thirty (30) days after the later of submission by Indemnitee of a written request for indemnification pursuant to Section 11(a) hereof and the final disposition of the Proceeding,
Independent Counsel has not been selected or, if selected, any objection to has not been resolved, either the Company or Indemnitee may petition the Delaware Court for the appointment as Independent Counsel of a person selected by such court or by
such other person as such court designates. Upon the due commencement of any judicial proceeding or arbitration pursuant to Section 14(a) of this Agreement, Independent Counsel will be discharged and relieved of any further responsibility in
such capacity (subject to the applicable standards of professional conduct then prevailing). 
 (d) Indemnitee will cooperate with the
person, persons or entity making the determination with respect to Indemnitee’s entitlement to indemnification, including providing to such person, persons or entity upon reasonable advance request any documentation or information which is not
privileged or otherwise protected from disclosure and which is reasonably available to Indemnitee and reasonably necessary to such determination. The Company will advance and pay any Expenses incurred by Indemnitee in so cooperating with the person,
persons or entity making the indemnification determination irrespective of the determination as to Indemnitee’s entitlement to indemnification and the Company hereby indemnifies and agrees to hold Indemnitee harmless therefrom. The Company
promptly will advise Indemnitee in writing of the determination that Indemnitee is or is not entitled to indemnification, including a description of any reason or basis for which indemnification has been denied and providing a copy of any written
opinion provided to the Board by Independent Counsel. 

  
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 (e) If it is determined that Indemnitee is entitled to indemnification, the Company will
make payment to Indemnitee within thirty (30) days after such determination. 
 Section 13. Presumptions and Effect of Certain
Proceedings. 
 (a) In making a determination with respect to entitlement to indemnification hereunder, the person or persons or entity
making such determination will, to the fullest extent not prohibited by law, presume Indemnitee is entitled to indemnification under this Agreement if Indemnitee has submitted a request for indemnification in accordance with Section 11(a) of
this Agreement, and the Company will, to the fullest extent not prohibited by law, have the burden of proof to overcome that presumption. Neither the failure of the Company (including by its directors or Independent Counsel) to have made a
determination prior to the commencement of any action pursuant to this Agreement that indemnification is proper in the circumstances because Indemnitee has met the applicable standard of conduct, nor an actual determination by the Company (including
by its directors or Independent Counsel) that Indemnitee has not met such applicable standard of conduct, will be a defense to the action or create a presumption that Indemnitee has not met the applicable standard of conduct. 

(b) If the determination of the Indemnitee’s entitlement to indemnification has not made pursuant to Section 12 within sixty
(60) days after the later of (i) receipt by the Company of Indemnitee’s request for indemnification pursuant to Section 11(a) and (ii) the final disposition of the Proceeding for which Indemnitee requested Indemnification
(the “Determination Period”), the requisite determination of entitlement to indemnification will, to the fullest extent not prohibited by law, be deemed to have been made and Indemnitee will be entitled to such indemnification, absent
(i) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s statement not materially misleading, in connection with the request for indemnification, or (ii) a prohibition of
such indemnification under applicable law. The Determination Period may be extended for a reasonable time, not to exceed an additional thirty (30) days, if the person, persons or entity making the determination with respect to entitlement to
indemnification in good faith requires such additional time for the obtaining or evaluating of documentation and/or information relating thereto; and provided, further, the Determination Period may be extended an additional fifteen (15) days if
the determination of entitlement to indemnification is to be made by the stockholders pursuant to Section 12(a)(iv) of this Agreement. 

(c) The termination of any Proceeding or of any claim, issue or matter therein, by judgment, order, settlement or conviction, or upon a plea
of nolo contendere or its equivalent, will not (except as otherwise expressly provided in this Agreement) of itself adversely affect the right of Indemnitee to indemnification or create a presumption that Indemnitee did not act in good
faith and in a manner which Indemnitee reasonably believed to be in or not opposed to the best interests of the Company or, with respect to any criminal Proceeding, that Indemnitee had reasonable cause to believe that Indemnitee’s conduct was
unlawful. 

  
 -9- 

 (d) For purposes of any determination of good faith, Indemnitee will be deemed to have acted
in good faith if Indemnitee acted based on the records or books of account of the Company, its subsidiaries, or an Enterprise, including financial statements, or on information supplied to Indemnitee by the directors or officers of the Company, its
subsidiaries, or an Enterprise in the course of their duties, or on the advice of legal counsel for the Company, its subsidiaries, or an Enterprise or on information or records given or reports made to the Company or an Enterprise by an independent
certified public accountant or by an appraiser, financial advisor or other expert selected with reasonable care by or on behalf of the Company, its subsidiaries, or an Enterprise. Further, Indemnitee will be deemed to have acted in a manner
“not opposed to the best interests of the Company,” as referred to in this Agreement if Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in the best interests of the participants and beneficiaries of an
employee benefit plan. The provisions of this Section 13(d) is not exclusive and does not limit in any way the other circumstances in which the Indemnitee may be deemed to have met the applicable standard of conduct set forth in this Agreement.

 (e) The knowledge and/or actions, or failure to act, of any director, officer, trustee, partner, managing member, fiduciary, agent or
employee of the Enterprise may not be imputed to Indemnitee for purposes of determining Indemnitee’s right to indemnification under this Agreement. 

Section 14. Remedies of Indemnitee. 

(a) Indemnitee may commence litigation against the Company in the Delaware Court of Chancery to obtain indemnification or advancement of
Expenses provided by this Agreement in the event that (i) a determination is made pursuant to Section 12 of this Agreement that Indemnitee is not entitled to indemnification under this Agreement, (ii) the Company does not advance
Expenses pursuant to Section 10 of this Agreement, (iii) the determination of entitlement to indemnification is not made pursuant to Section 12 of this Agreement within the Determination Period, (iv) the Company does not
indemnify Indemnitee pursuant to Section 5 or 6 or the second to last sentence of Section 12(d) of this Agreement within thirty (30) days after receipt by the Company of a written request therefor, (v) the Company does not
indemnify Indemnitee pursuant to Section 3, 4, 7, or 8 of this Agreement within thirty (30) days after a determination has been made that Indemnitee is entitled to indemnification, or (vi) in the event that the Company or any other
person takes or threatens to take any action to declare this Agreement void or unenforceable, or institutes any litigation or other action or Proceeding designed to deny, or to recover from, the Indemnitee the benefits provided or intended to be
provided to the Indemnitee hereunder. Indemnitee must commence such Proceeding seeking an adjudication or an award in arbitration within one hundred and eighty (180) days following the date on which Indemnitee first has the right to commence
such Proceeding pursuant to this Section 14(a); provided, however, that the foregoing clause does not apply in respect of a Proceeding brought by Indemnitee to enforce Indemnitee’s rights under Section 5 of this
Agreement. The Company will not oppose Indemnitee’s right to seek any such adjudication or award in arbitration. 
 (b) If a
determination is made pursuant to Section 12 of this Agreement that Indemnitee is not entitled to indemnification, any judicial proceeding or arbitration commenced pursuant to this Section 14 will be conducted in all respects as a de
novo trial, or arbitration, on the merits and Indemnitee may not be prejudiced by reason of that adverse determination. In any judicial proceeding or arbitration commenced pursuant to this Section 14 the Company will have the burden of
proving Indemnitee is not entitled to indemnification or advancement of Expenses, as the case may be, and will not introduce evidence of the determination made pursuant to Section 12 of this Agreement. 

  
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 (c) If a determination is made pursuant to Section 12 of this Agreement that Indemnitee
is entitled to indemnification, the Company will be bound by such determination in any judicial proceeding or arbitration commenced pursuant to this Section 14, absent (i) a misstatement by Indemnitee of a material fact, or an omission of
a material fact necessary to make Indemnitee’s statement not materially misleading, in connection with the request for indemnification, or (ii) a prohibition of such indemnification under applicable law. 

(d) The Company is, to the fullest extent not prohibited by law, precluded from asserting in any judicial proceeding or arbitration commenced
pursuant to this Section 14 that the procedures and presumptions of this Agreement are not valid, binding and enforceable and will stipulate in any such court or before any such arbitrator that the Company is bound by all the provisions of this
Agreement. 
 (e) It is the intent of the Company that, to the fullest extent permitted by law, the Indemnitee not be required to incur
legal fees or other Expenses associated with the interpretation, enforcement or defense of Indemnitee’s rights under this Agreement by litigation or otherwise because the cost and expense thereof would substantially detract from the benefits
intended to be extended to the Indemnitee hereunder. The Company, to the fullest extent permitted by law, will (within thirty (30) days after receipt by the Company of a written request therefor) advance to Indemnitee such Expenses which are
incurred by Indemnitee in connection with any action concerning this Agreement, Indemnitee’s right to indemnification or advancement of Expenses from the Company, or concerning any directors’ and officers’ liability insurance policies
maintained by the Company, and will indemnify Indemnitee against any and all such Expenses unless the court determines that each of the Indemnitee’s claims in such action were made in bad faith or were frivolous or are prohibited by law. 

Section 15. Reserved. 

Section 16. Non-exclusivity; Survival of Rights; Insurance; Subrogation. 

(a) The indemnification and advancement of Expenses provided by this Agreement are not exclusive of any other rights to which Indemnitee may
at any time be entitled under applicable law, the Certificate of Incorporation, the Bylaws, any agreement, a vote of stockholders or a resolution of directors, or otherwise. The indemnification and advancement of Expenses provided by this Agreement
may not be limited or restricted by any amendment, alteration or repeal of this Agreement in any way with respect to any action taken or omitted by Indemnitee in Indemnitee’s Corporate Status occurring prior to any amendment, alteration or
repeal of this Agreement. To the extent that a change in Delaware law, whether by statute or judicial decision, permits greater indemnification or advancement of Expenses than would be afforded currently under the Bylaws, Certificate of
Incorporation, or this Agreement, it is the intent of the parties hereto that Indemnitee enjoy by this Agreement the greater benefits so afforded by such change. No right or remedy herein conferred is intended to be exclusive of any other right or
remedy, and every other right and remedy is cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or
otherwise, will not prevent the concurrent assertion or employment of any other right or remedy. 

  
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 (b) The Company hereby acknowledges that Indemnitee may have certain rights to
indemnification, advancement of Expenses and/or insurance provided by one or more other Persons with whom or which Indemnitee may be associated (including, without limitation, any Sponsor Entities). The relationship between the Company and such
other Persons, other than an Enterprise, with respect to the Indemnitee’s rights to indemnification, advancement of Expenses, and insurance is described by this subsection, subject to the provisions of subsection (d) of this
Section 16 with respect to a Proceeding concerning Indemnitee’s Corporate Status with an Enterprise. 
 i. The Company hereby
acknowledges and agrees: 
 1) the Company is the indemnitor of first resort with respect to any request for indemnification or advancement
of Expenses made pursuant to this Agreement concerning any Proceeding; 
 2) the Company is primarily liable for all indemnification and
indemnification or advancement of Expenses obligations for any Proceeding, whether created by law, organizational or constituent documents, contract (including this Agreement) or otherwise; 

3) any obligation of any other Persons with whom or which Indemnitee may be associated (including, without limitation, any Sponsor Entities)
to indemnify Indemnitee and/or advance Expenses to Indemnitee in respect of any proceeding are secondary to the obligations of the Company’s obligations; 

4) the Company will indemnify Indemnitee and advance Expenses to Indemnitee hereunder to the fullest extent provided herein without regard to
any rights Indemnitee may have against any other Person with whom or which Indemnitee may be associated (including, any Sponsor Entities) or insurer of any such Person; and 

ii. the Company irrevocably waives, relinquishes and releases (A) any other Person with whom or which Indemnitee may be associated
(including, without limitation, any Sponsor Entities) from any claim of contribution, subrogation, reimbursement, exoneration or indemnification, or any other recovery of any kind in respect of amounts paid by the Company to Indemnitee pursuant to
this Agreement and (B) any right to participate in any claim or remedy of Indemnitee against any Person (including, without limitation, any Sponsor Entities), whether or not such claim, remedy or right arises in equity or under contract,
statute or common law, including, without limitation, the right to take or receive from any Person (including, without limitation, any Sponsor Entities), directly or indirectly, in cash or other property or by
set-off or in any other manner, payment or security on account of such claim, remedy or right. 

  
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 iii. In the event any other Person with whom or which Indemnitee may be associated
(including, without limitation, any Sponsor Entities) or their insurers advances or extinguishes any liability or loss for Indemnitee, the payor has a right of subrogation against the Company or its insurers for all amounts so paid which would
otherwise be payable by the Company or its insurers under this Agreement. In no event will payment by any other Person with whom or which Indemnitee may be associated (including, without limitation, any Sponsor Entities) or their insurers affect the
obligations of the Company hereunder or shift primary liability for the Company’s obligation to indemnify or advance of Expenses to any other Person with whom or which Indemnitee may be associated (including, without limitation, any Sponsor
Entities). 
 iv. Any indemnification or advancement of Expenses provided by any other Person with whom or which Indemnitee may be
associated (including, without limitation, any Sponsor Entities) is specifically in excess over the Company’s obligation to indemnify and advance Expenses or any valid and collectible insurance (including but not limited to any malpractice
insurance or professional errors and omissions insurance) provided by the Company. 
 (c) To the extent that the Company maintains an
insurance policy or policies providing liability insurance for directors, officers, employees, or agents of the Company, the Company will obtain a policy or policies covering Indemnitee to the maximum extent of the coverage available for any such
director, officer, employee or agent under such policy or policies, including coverage in the event the Company does not or cannot, for any reason, indemnify or advance Expenses to Indemnitee as required by this Agreement. If, at the time of the
receipt of a notice of a claim pursuant to this Agreement, the Company has director and officer liability insurance in effect, the Company will give prompt notice of such claim or of the commencement of a Proceeding, as the case may be, to the
insurers in accordance with the procedures set forth in the respective policies. The Company will thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of the Indemnitee, all amounts payable as a result of such
Proceeding in accordance with the terms of such policies. Indemnitee agrees to assist the Company efforts to cause the insurers to pay such amounts and will comply with the terms of such policies, including selection of approved panel counsel, if
required. 
 (d) The Company’s obligation to indemnify or advance Expenses hereunder to Indemnitee for any Proceeding concerning
Indemnitee’s Corporate Status with an Enterprise will be reduced by any amount Indemnitee has actually received as indemnification or advancement of Expenses from such Enterprise. The Company and Indemnitee intend that any such Enterprise (and
its insurers) be the indemnitor of first resort with respect to indemnification and advancement of Expenses for any Proceeding related to or arising from Indemnitee’s Corporate Status with such Enterprise. The Company’s obligation to
indemnify and advance Expenses to Indemnitee is secondary to the obligations the Enterprise or its insurers owe to Indemnitee. Indemnitee agrees to take all reasonably necessary and desirable action to obtain from an Enterprise indemnification and
advancement of Expenses for any Proceeding related to or arising from Indemnitee’s Corporate Status with such Enterprise. 
 (e) In the
event of any payment made by the Company under this Agreement, the Company will be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee from any Enterprise or insurance carrier. Indemnitee will execute all papers
required and take all action necessary to secure such rights, including execution of such documents as are necessary to enable the Company to bring suit to enforce such rights. 

  
 -13- 

 Section 17. Duration of Agreement. This Agreement continues until and terminates
upon the later of: (a) ten (10) years after the date that Indemnitee ceases to have a Corporate Status or (b) one (1) year after the final termination of any Proceeding then pending in respect of which Indemnitee is granted rights of
indemnification or advancement of Expenses hereunder and of any Proceeding commenced by Indemnitee pursuant to Section 14 of this Agreement relating thereto. The indemnification and advancement of Expenses rights provided by or granted pursuant
to this Agreement are binding upon and be enforceable by the parties hereto and their respective successors and assigns (including any direct or indirect successor by purchase, merger, consolidation or otherwise to all or substantially all of the
business or assets of the Company), continue as to an Indemnitee who has ceased to be a director, officer, employee or agent of the Company or of any other Enterprise, and inure to the benefit of Indemnitee and Indemnitee’s spouse, assigns,
heirs, devisees, executors and administrators and other legal representatives. 
 Section 18. Severability. If any provision or
provisions of this Agreement is held to be invalid, illegal or unenforceable for any reason whatsoever: (a) the validity, legality and enforceability of the remaining provisions of this Agreement (including without limitation, each portion of
any Section of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) will not in any way be affected or impaired thereby and remain enforceable to the fullest
extent permitted by law; (b) such provision or provisions will be deemed reformed to the extent necessary to conform to applicable law and to give the maximum effect to the intent of the parties hereto; and (c) to the fullest extent
possible, the provisions of this Agreement (including, without limitation, each portion of any Section of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or
unenforceable) will be construed so as to give effect to the intent manifested thereby. 
 Section 19. Interpretation. Any
ambiguity in the terms of this Agreement will be resolved in favor of Indemnitee and in a manner to provide the maximum indemnification and advancement of Expenses permitted by law. The Company and Indemnitee intend that this Agreement provide to
the fullest extent permitted by law for indemnification and advancement in excess of that expressly provided, without limitation, by the Certificate of Incorporation, the Bylaws, vote of the Company stockholders or disinterested directors, or
applicable law. 
 Section 20. Enforcement. 

(a) The Company expressly confirms and agrees that it has entered into this Agreement and assumed the obligations imposed on it hereby in
order to induce Indemnitee to serve as a director or officer of the Company, and the Company acknowledges that Indemnitee is relying upon this Agreement in serving or continuing to serve as a director or officer of the Company. 

(b) This Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter hereof and supersedes all
prior agreements and understandings, oral, written and implied, between the parties hereto with respect to the subject matter hereof; provided, however, that this Agreement is a supplement to and in furtherance of the Certificate of Incorporation,
the Bylaws and applicable law, and is not a substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder. 

  
 -14- 

 Section 21. Modification and Waiver. No supplement, modification or amendment of
this Agreement is binding unless executed in writing by the parties hereto. No waiver of any of the provisions of this Agreement will be deemed or constitutes a waiver of any other provisions of this Agreement nor will any waiver constitute a
continuing waiver. 
 Section 22. Notice by Indemnitee. Indemnitee agrees promptly to notify the Company in writing upon being
served with any summons, citation, subpoena, complaint, indictment, information or other document relating to any Proceeding or matter which may be subject to indemnification or advancement of Expenses covered hereunder. The failure of Indemnitee to
so notify the Company does not relieve the Company of any obligation which it may have to the Indemnitee under this Agreement or otherwise. 

Section 23. Notices. All notices, requests, demands and other communications under this Agreement will be in writing and will be
deemed to have been duly given if (a) delivered by hand to the other party, (b) sent by reputable overnight courier to the other party or (c) sent by facsimile transmission or electronic mail, with receipt of oral confirmation that
such communication has been received: 
 (a) If to Indemnitee, at the address indicated on the signature page of this Agreement, or such
other address as Indemnitee provides to the Company. 
 (b) If to the Company to: 

 

	 	Name:	 Traeger, Inc. 

	 	Address:	 1215 E Wilmington Ave., Suite 200 

	 	 	 Salt Lake City, Utah 84106 

	 	Attention:	 General Counsel 

	 	Email:	 tburton@traegergrills.com 

or to any other address as may have been furnished to Indemnitee by the Company. 

Section 24. Contribution. To the fullest extent permissible under applicable law, if the indemnification provided for in this
Agreement is unavailable to Indemnitee for any reason whatsoever, the Company, in lieu of indemnifying Indemnitee, will contribute to the amount incurred by Indemnitee, whether for judgments, fines, penalties, excise taxes, amounts paid or to be
paid in settlement and/or for Expenses, in connection with any claim relating to an indemnifiable event under this Agreement, in such proportion as is deemed fair and reasonable in light of all of the circumstances of such Proceeding in order to
reflect (i) the relative benefits received by the Company and Indemnitee as a result of the event(s) and/or transaction(s) giving cause to such Proceeding; and/or (ii) the relative fault of the Company (and its directors, officers,
employees and agents) and Indemnitee in connection with such event(s) and/or transaction(s). 
 Section 25. Applicable Law and
Consent to Jurisdiction. This Agreement and the legal relations among the parties are governed by, and construed and enforced in accordance with, the laws of the State of Delaware, without regard to its conflict of laws rules. Except with
respect to any arbitration commenced by Indemnitee pursuant to Section 14(a) of this Agreement, the Company and Indemnitee hereby irrevocably and unconditionally (i) agree that any action or

  
 -15- 

 
Proceeding arising out of or in connection with this Agreement may be brought only in the Delaware Court of Chancery and not in any other state or federal court in the United States of America or
any court in any other country, (ii) consent to submit to the exclusive jurisdiction of the Delaware Court for purposes of any action or Proceeding arising out of or in connection with this Agreement, (iii) waive any objection to the
laying of venue of any such action or Proceeding in the Delaware Court, and (iv) waive, and agree not to plead or to make, any claim that any such action or Proceeding brought in the Delaware Court has been brought in an improper or
inconvenient forum. 
 Section 26. Identical Counterparts. This Agreement may be executed in one or more counterparts, each of
which will for all purposes be deemed to be an original but all of which together constitutes one and the same Agreement. Only one such counterpart signed by the party against whom enforceability is sought needs to be produced to evidence the
existence of this Agreement. 
 Section 27. Headings. The headings of this Agreement are inserted for convenience only and do
not constitute part of this Agreement or affect the construction thereof. 
 IN WITNESS WHEREOF, the parties have caused this Agreement to
be signed as of the day and year first above written. 
  

									
	TRAEGER, INC.	 		 	INDEMNITEE
				
	By:	 	
                     
                       
	 	                    	 	
                     
                   

	Name:	 		 		 	Name:	 	  

	Title:	 		 		 	Address:	 	  

		 		 		 		 	  

		 		 		 		 	  

  
 -16-

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