Document:

EX-10.2

 Exhibit 10.2 

TAX RECEIVABLE AGREEMENT 

between 
 EXETER FINANCE
CORPORATION 
 and 

THE PERSONS NAMED HEREIN 

Dated as of [●], [●] 

 Exhibit 10.2 

TABLE OF CONTENTS 
  

							
	 	 	 	  	Page	 
		
	 ARTICLE I DEFINITIONS
	  	 	2	 
			
	 Section 1.1
	 	Definitions	  	 	2	 
	 Section 1.2
	 	Rules of Construction	  	 	10	 
		
	 ARTICLE II DETERMINATION OF REALIZED TAX BENEFIT
	  	 	11	 
			
	 Section 2.1
	 	Basis Schedules	  	 	11	 
	 Section 2.2
	 	Tax Benefit Schedule	  	 	11	 
	 Section 2.3
	 	Procedures, Amendments	  	 	12	 
		
	 ARTICLE III TAX BENEFIT PAYMENTS
	  	 	14	 
			
	 Section 3.1
	 	Payments	  	 	14	 
	 Section 3.2
	 	No Duplicative Payments	  	 	15	 
	 Section 3.3
	 	Pro Rata Payments	  	 	15	 
		
	 ARTICLE IV TERMINATION
	  	 	15	 
			
	 Section 4.1
	 	Early Termination of Agreement; Breach of Agreement	  	 	15	 
	 Section 4.2
	 	Early Termination Notice	  	 	17	 
	 Section 4.3
	 	Payment upon Early Termination	  	 	17	 
		
	 ARTICLE V SUBORDINATION AND LATE PAYMENTS
	  	 	18	 
			
	 Section 5.1
	 	Subordination	  	 	18	 
	 Section 5.2
	 	Late Payments by the Corporate Taxpayer	  	 	18	 
		
	 ARTICLE VI NO DISPUTES; CONSISTENCY; COOPERATION
	  	 	18	 
			
	 Section 6.1
	 	Participation in the Corporate Taxpayer’s and OpCo’s Tax Matters	  	 	18	 
	 Section 6.2
	 	Consistency	  	 	19	 
	 Section 6.3
	 	Cooperation	  	 	19	 
		
	 ARTICLE VII MISCELLANEOUS
	  	 	20	 
			
	 Section 7.1
	 	Notices	  	 	20	 
	 Section 7.2
	 	Counterparts	  	 	20	 
	 Section 7.3
	 	Entire Agreement; No Third Party Beneficiaries	  	 	20	 
	 Section 7.4
	 	Governing Law	  	 	20	 
	 Section 7.5
	 	Severability	  	 	21	 
	 Section 7.6
	 	Successors; Assignment; Amendments; Waivers	  	 	21	 

  
 i 

							
	 Section 7.7
	 	 Titles and Subtitles
	  	 	22	 
	 Section 7.8
	 	 Resolution of Disputes
	  	 	22	 
	 Section 7.9
	 	 Reconciliation
	  	 	23	 
	 Section 7.10
	 	 Withholding
	  	 	24	 
	 Section 7.11
	 	 Admission of the Corporate Taxpayer into a Consolidated Group; Transfers of Corporate
Assets
	  	 	24	 
	 Section 7.12
	 	 Confidentiality
	  	 	24	 
	 Section 7.13
	 	 Change in Law
	  	 	25	 

  
 ii 

 TAX RECEIVABLE AGREEMENT 

This TAX RECEIVABLE AGREEMENT (this “Agreement”) is dated as of [●], [●], and is between Exeter Finance
Corporation, a Delaware corporation (including any successor corporation, the “Corporate Taxpayer”), each of the undersigned parties, and each of the other persons from time to time party hereto (each such party other than
the Corporate Taxpayer and the Continuing Common A Owners Representative (as defined below), a “TRA Party” and together the “TRA Parties”). 

RECITALS 
 WHEREAS,
the TRA Parties directly or indirectly hold limited liability company interests (the “Units”) in Exeter Finance LLC, a Delaware limited liability company (“OpCo”), which is classified as a partnership
for U.S. federal income tax purposes; 
 WHEREAS, the Corporate Taxpayer is the managing member of OpCo, and holds and will hold,
directly and/or indirectly, Units; 
 WHEREAS, the Units held by the TRA Parties may be exchanged for Class A common stock (the
“Class A Shares”) of the Corporate Taxpayer, in accordance with and subject to the provisions of the LLC Agreement (as defined below); 

WHEREAS, OpCo currently has and will have in effect an election under section 754 of the U.S. Internal Revenue Code of 1986, as amended
(the “Code”), for each Taxable Year (as defined below) in which a taxable acquisition (including a deemed taxable acquisition under section 707(a) of the Code) of Units by the Corporate Taxpayer from any of the TRA Parties
for Class A Shares or other consideration (an “Exchange”) occurs; 
 WHEREAS, the income, gain, loss,
expense and other Tax (as defined below) items of the Corporate Taxpayer may be affected by the Basis Adjustments (as defined below) and the Imputed Interest (as defined below); 

WHEREAS, the parties to this Agreement desire to make certain arrangements with respect to the effect of the Basis Adjustments and
Imputed Interest on the liability for Taxes of the Corporate Taxpayer; 
 WHEREAS, Exchanges by the TRA Parties and payments in
respect of Tax savings related to such Exchanges are expected to result in Tax savings for the Corporate Taxpayer; and 
 WHEREAS,
the Corporate Taxpayer may achieve Tax savings as a result of becoming entitled to Blocker Attributes of the Blocker pursuant the Blocker Merger (each as defined below). 

NOW, THEREFORE, in consideration of the foregoing and the respective covenants and agreements set forth herein, and intending to be
legally bound hereby, the parties hereto agree as follows: 

 ARTICLE I 

DEFINITIONS 

Section 1.1 Definitions. As used in this Agreement, the terms set forth in this Article I shall have
the following meanings (such meanings to be equally applicable to both the singular and plural forms of the terms defined). 

“Actual Tax Liability” means the sum of (i) the actual liability for Taxes of the Corporate Taxpayer as reported
on its U.S. federal income Tax Return for a given Taxable Year and (ii) the product of the amount of the U.S. federal income or gain for such Taxable Year reported on the Corporate Taxpayer’s U.S. federal income Tax Return and the Blended
Rate. 
 “Affiliate” means, with respect to any Person, any other Person that directly or indirectly, through one or
more intermediaries, Controls, is Controlled by, or is under common Control with, such first Person. 
 “Agreed
Rate” means LIBOR plus 100 basis points. 
 “Agreement” is defined in the Preamble to this Agreement.

 “Amended Schedule” is defined in Section 2.3(b) of this Agreement. 

“Basis Adjustment” means the adjustment to the tax basis of a Reference Asset under sections 732, 734(b) and 1012 of
the Code (in situations where, as a result of one or more Exchanges, OpCo becomes an entity that is disregarded as separate from its owner for U.S. federal income tax purposes) or under sections 734(b), 743(b) and 754 of the Code (in situations
where, following an Exchange, OpCo remains in existence as an entity treated as a partnership for U.S. federal income tax purposes) and, in each case, comparable sections of state and local tax laws, as a result of an Exchange and the payments made
pursuant to this Agreement. For the avoidance of doubt, the amount of any Basis Adjustment resulting from an Exchange of one or more Units shall be determined without regard to any Pre-Exchange Transfer of
such Units and as if any such Pre-Exchange Transfer had not occurred. 
 A “Beneficial
Owner” of a security is a Person who directly or indirectly, through any contract, arrangement, understanding, relationship or otherwise, has or shares: (i) voting power, which includes the power to vote, or to direct the voting
of, such security; and/or (ii) investment power, which includes the power to dispose of, or to direct the disposition of, such security. The terms “Beneficially Own” and “Beneficial Ownership”
shall have correlative meanings. 
 “Blended Rate” means, with respect to any Taxable Year, the sum of the effective
rates of tax imposed on the aggregate net income of the Corporate Taxpayer in each state or local jurisdiction in which the Corporate Taxpayer files Tax Returns for such Taxable Year, with the effective rate in any state or local jurisdiction being
equal to the product of: (i) the apportionment factor on the income or franchise Tax Return filed by the Corporate Taxpayer in such jurisdiction for such Taxable Year, and (ii) the maximum applicable corporate tax rate in effect in such
jurisdiction in such Taxable Year. 

  
 2 

 “Blocker” means BCP VI Exeter Feeder Fund LP, a Delaware limited
partnership. 
 “Blocker Attributes” means, without duplication, the net operating losses, capital losses,
charitable deductions, foreign tax credits and AMT credit carryforwards that the Corporate Taxpayer is entitled to utilize as a result of the Blocker Merger that relate to periods (or portions thereof) prior to such Blocker Merger; provided,
however, that in order to determine whether any such Tax attributes are Blocker Attributes, the Taxable Year of the Corporate Taxpayer that includes the effective date of the Blocker Merger shall be deemed to end as of the close of such
effective date. For the avoidance of doubt, the term “Blocker Attributes” shall not include any Tax attribute of the Blocker that is used to offset Taxes of such Blocker, if such offset Taxes are attributable to taxable periods (or portion
thereof) ending on or prior to the date of the Blocker Merger. 
 “Blocker Interest Amount” has the meaning set
forth in Section 3.1(c) of this Agreement. 
 “Blocker Merger” means the merger of the Blocker with and into
the Corporate Taxpayer, with the Corporate Taxpayer surviving. 
 “Blocker Realized Tax Benefit” means, for a
Taxable Year, the excess, if any, of the Non-Blocker-Attribute Tax Liability over the Non-Stepped-Up Tax Liability of
(i) the Corporate Taxpayer and (ii) without duplication, OpCo, but only with respect to Taxes imposed on OpCo and allocable to the Corporate Taxpayer. If all or a portion of the Actual Tax Liability for the Taxable Year arises as a result
of an audit by a Taxing Authority of any Taxable Year, such liability shall not be included in determining the Blocker Realized Tax Benefit unless and until there has been a Determination. 

“Blocker Tax Benefit” has the meaning set forth in Section 3.1(c) of this Agreement. 

“Blocker Tax Benefit Payment” has the meaning set forth in Section 3.1(c) of this Agreement. 

“Board” means the Board of Directors of the Corporate Taxpayer. 

“Business Day” means Monday through Friday of each week, except that a legal holiday recognized as such by the
government of the United States of America or the State of New York shall not be regarded as a Business Day. 
 “Change of
Control” means the consummation of any transaction resulting in the occurrence of any of the following events: 
 (i) any Person
or any group of Persons acting together that would constitute a “group” for purposes of Section 13(d) of the Securities and Exchange Act of 1934, or any successor provisions thereto (excluding (a) a corporation or other entity
owned, directly or indirectly, by the stockholders of the Corporate Taxpayer in substantially the same proportions as their ownership of stock of the Corporate Taxpayer or (b) a group of Persons in which one or more Affiliates of Permitted
Investors, directly or indirectly hold Beneficial Ownership of securities representing more than 50% of the total voting power held by such group) is or becomes the Beneficial Owner, directly or indirectly, of securities of the Corporate Taxpayer
representing more than 50% of the combined voting power of the Corporate Taxpayer’s then outstanding voting securities; or 

  
 3 

 (ii) there is consummated a merger or consolidation of the Corporate Taxpayer with any other
corporation or other entity, and, immediately after the consummation of such merger or consolidation, either (x) the Board immediately prior to the merger or consolidation does not constitute at least a majority of the board of directors of the
company surviving the merger or, if the surviving company is a Subsidiary, the ultimate parent thereof, or (y) the voting securities of the Corporate Taxpayer immediately prior to such merger or consolidation do not continue to represent or are
not converted into more than 50% of the combined voting power of the then outstanding voting securities of the Person resulting from such merger or consolidation or, if the surviving company is a Subsidiary, the ultimate parent thereof; or 

(iii) the shareholders of the Corporate Taxpayer approve a plan of complete liquidation or dissolution of the Corporate Taxpayer or there is
consummated an agreement or series of related agreements for the sale, lease or other disposition, directly or indirectly, by the Corporate Taxpayer of all or substantially all of the Corporate Taxpayer’s assets, other than such sale or other
disposition by the Corporate Taxpayer of all or substantially all of the Corporate Taxpayer’s assets to an entity at least 50% of the combined voting power of the voting securities of which are owned by shareholders of the Corporate Taxpayer in
substantially the same proportions as their ownership of the Corporate Taxpayer immediately prior to such sale. 
 Notwithstanding the foregoing, except
with respect to clause (ii)(x) above, a “Change of Control” shall not be deemed to have occurred by virtue of the consummation of any transaction or series of integrated transactions immediately following which the record holders of the
shares of the Corporate Taxpayer immediately prior to such transaction or series of transactions continue to have substantially the same proportionate ownership in, and own substantially all of the shares of, an entity which owns all or
substantially all of the assets of the Corporate Taxpayer immediately following such transaction or series of transactions. 

“Class A Shares” is defined in the Recitals of this Agreement. 

“Code” is defined in the Recitals of this Agreement. 

“Continuing Common A Owners” means the equity holders of the Blocker immediately prior to the Blocker Merger. 

“Continuing Common A Owners Representative” means Blackstone Management Associates
VI-NQ LLC, a Delaware limited liability company. 
 “Control” means the
possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a Person, whether through ownership of voting securities, by contract or otherwise. 

“Corporate Taxpayer” is defined in the Preamble to this Agreement; provided that the term “Corporate
Taxpayer” shall include any company that is a member of any consolidated tax return of which Exeter Finance Corporation is the common parent, where appropriate. 

  
 4 

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

“Cumulative Blocker Net Realized Tax Benefit” for a Taxable Year means the cumulative amount of Blocker Realized Tax
Benefits for all Taxable Years of the Corporate Taxpayer, up to and including such Taxable Year. The Blocker Realized Tax Benefit for each Taxable Year shall be determined based on the most recent Tax Benefit Schedules or Amended Schedules, if any,
in existence at the time of such determination. 
 “Default Rate” means LIBOR plus 500 basis points. 

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

“Dispute” has the meaning set forth in Section 7.8(a) of this Agreement. 

“Early Termination Date” means the date of an Early Termination Notice for purposes of determining the Early
Termination Payment. 
 “Early Termination Effective Date” means the date on which an Early Termination Schedule
becomes binding pursuant to Section 4.2. 
 “Early Termination Notice” is defined in Section 4.2 of this
Agreement. 
 “Early Termination Schedule” is defined in Section 4.2 of this Agreement. 

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

“Early Termination Rate” means the lesser of 6.5% or LIBOR plus 100 basis points. 

“Exchange” is defined in the Recitals of this Agreement. 

“Exchange Basis Schedule” is defined in Section 2.1 of this Agreement. 

“Exchange Date” means the date of any Exchange. 

“Exchange Notice” means a notice delivered pursuant to Section 7.05 of the LLC Agreement. 

“Expert” is defined in Section 7.9 of this Agreement. 

  
 5 

 “Imputed Interest” in respect of a TRA Party or a Continuing Common
A Owner shall mean any interest imputed under sections 1272, 1274 or 483 or other provision of the Code and any similar provision of state and local tax law with respect to the Corporate Taxpayer’s payment obligations in respect of such TRA
Party or Continuing Common A Owner under this Agreement. For the avoidance of doubt, Imputed Interest in respect of a TRA Party or a Continuing Common A Owner shall be computed based on the sum of the Net Tax Benefit and Interest Amount payable to
such TRA Party or the Blocker Net Tax Benefit and Blocker Interest Amount payable to such Continuing Common A Owner, respectively. 

“IPO” means the initial public offering of Class A Shares by the Corporate Taxpayer. 

“IPO Date” means the closing date of the IPO. 

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

“LIBOR” means during any period, an interest rate per annum equal to the
one-year LIBOR reported, on the date two days prior to the first day of such period, on the Telerate Page 3750 (or if such screen shall cease to be publicly available, as reported on Reuters Screen page
“LIBOR01” or by any other publicly available source of such market rate) for London interbank offered rates for U.S. dollar deposits for such period. 

“LLC Agreement” means, with respect to OpCo, the Amended and Restated Limited Liability Company Agreement of OpCo,
dated on or about the date hereof, as amended from time to time. 
 “Market Value” shall mean the closing price of
the Class A Shares on the applicable Exchange Date on the national securities exchange or interdealer quotation system on which such Class A Shares are then traded or listed, as reported by the Wall Street Journal; provided that if
the closing price is not reported by the Wall Street Journal for the applicable Exchange Date, then the Market Value shall mean the closing price of the Class A Shares on the Business Day immediately preceding such Exchange Date on the national
securities exchange or interdealer quotation system on which such Class A Shares are then traded or listed, as reported by the Wall Street Journal; provided, further, that if the Class A Shares are not then listed on a
national securities exchange or interdealer quotation system, “Market Value” shall mean the cash consideration paid for Class A Shares, or the fair market value of the other property delivered for Class A Shares, as determined by
the Board in good faith. 
 “Material Objection Notice” has the meaning set forth in Section 4.2 of this
Agreement. 
 “Non-Blocker-Attribute Federal Tax Liability” means, with
respect to any Taxable Year, the hypothetical liability for Taxes of (i) the Corporate Taxpayer and (ii) without duplication, OpCo, but only with respect to Taxes imposed on OpCo and allocable to the Corporate Taxpayer, in each case using
the same methods, elections, conventions and similar practices used on the relevant Tax Return of the Corporate Taxpayer, but (a) without taking into account Blocker Attributes, if any, (b) using the Non-Stepped-Up Tax Basis as reflected on the Exchange Basis Schedule including amendments thereto for the Taxable Year, (c) excluding any deduction attributable to Imputed Interest for the Taxable Year
and (d) deducting the Non-Blocker-Attribute State/Local Tax Liability (rather than any amount for state or local tax liabilities). For the avoidance of doubt,
Non-Blocker-Attribute Tax Liability shall be determined without taking into account the carryover or carryback of any Tax item (or portions thereof) that is attributable to a Basis Adjustment, Blocker
Attributes, Imputed Interest, or any deduction in respect of the Non-Blocker-Attribute State/Local Tax Liability, as applicable. 

  
 6 

 “Non-Blocker-Attribute State/Local Tax
Liability” means, with respect to any Taxable Year, the U.S. federal taxable income determined in connection with calculating the Non-Blocker-Attribute Federal Tax Liability for such Taxable Year
(determined without regard to clause (d) thereof) multiplied by the Blended Rate for such Taxable Year. 
 “Non-Blocker-Attribute Tax Liability” means, with respect to any Taxable Year, the Non-Blocker-Attribute Federal Tax Liability for such Taxable Year, plus the Non-Blocker-Attribute State/Local Tax Liability for such Taxable Year. 
 “Non-Stepped-Up Federal Tax Liability” means, with respect to any Taxable Year, the hypothetical liability for Taxes of (i) the Corporate Taxpayer and
(ii) without duplication, OpCo, but only with respect to Taxes imposed on OpCo and allocable to the Corporate Taxpayer, in each case using the same methods, elections, conventions and similar practices used on the relevant Tax Return of the
Corporate Taxpayer, but (a) using the Non-Stepped-Up Tax Basis as reflected on the Exchange Basis Schedule including amendments thereto for the Taxable Year,
(b) excluding any deduction attributable to Imputed Interest in respect of an Exchange for the Taxable Year and (c) deducting the Non-Stepped-Up State/Local
Tax Liability (rather than any amount for state or local tax liabilities). For the avoidance of doubt, Non-Stepped-Up Federal Tax Liability shall be determined without
taking into account the carryover or carryback of any Tax item (or portions thereof) that is attributable to a Basis Adjustment, Blocker Attributes, Imputed Interest or any deduction in respect of the Non-Stepped-Up State/Local Tax Liability, as applicable. 
 “Non-Stepped-Up State/Local Tax Liability” means, with respect to any Taxable Year, the U.S. federal taxable income determined in connection with calculating the Non-Stepped-Up Federal Tax Liability for such Taxable Year (determined without regard to clause (c) thereof) multiplied by the Blended Rate for such Taxable Year. 

“Non-Stepped-Up Tax Basis” means, with
respect to any Reference Asset at any time, the Tax basis that such asset would have had at such time if no Basis Adjustments had been made. 

“Non-Stepped-Up Tax Liability” means,
with respect to any Taxable Year, the Non-Stepped-Up Federal Tax Liability for such Taxable Year, plus the Non-Stepped-Up State/Local Tax Liability for such Taxable Year. 
 “Objection
Notice” has the meaning set forth in Section 2.3(a) of this Agreement. 
 “Payment Date” means any
date on which a payment is required to be made pursuant to this Agreement. 
 “Permitted Investors” means investment
funds managed by The Blackstone Group L.P. or any of their Affiliates. 

  
 7 

 “Person” means any individual, corporation, firm, partnership, joint
venture, limited liability company, estate, trust, business association, organization, governmental entity or other entity. 
 “Pre-Exchange Transfer” means any transfer (including upon the death of a member) or distribution in respect of one or more Units (i) that occurs prior to an Exchange of such Units, and (ii) to
which sections 743(b) or 734(b) of the Code applies. 
 “Realized Tax Benefit” means, for a Taxable Year, the
excess, if any, of the Non-Stepped-Up Tax Liability over the Actual Tax Liability of (i) the Corporate Taxpayer and (ii) without duplication, OpCo, but only
with respect to Taxes imposed on OpCo and allocable to the Corporate Taxpayer. If all or a portion of the Actual Tax Liability for the Taxable Year arises as a result of an audit by a Taxing Authority of any Taxable Year, such liability shall not be
included in determining the Realized Tax Benefit unless and until there has been a Determination. 
 “Realized Tax
Detriment” means, for a Taxable Year, the excess, if any, of the Actual Tax Liability of (i) the Corporate Taxpayer and (ii) without duplication, OpCo, but only with respect to Taxes imposed on OpCo and allocable to the
Corporate Taxpayer, over the Non-Stepped-Up Tax Liability. If all or a portion of the Actual Tax Liability for the Taxable Year arises as a result of an audit by a
Taxing Authority of any Taxable Year, such liability shall not be included in determining the Realized Tax Detriment unless and until there has been a Determination. 

“Reconciliation Dispute” is defined in Section 7.9 of this Agreement. 

“Reconciliation Procedures” is defined in Section 2.3(a) of this Agreement. 

“Reference Asset” means an asset that is held by OpCo, or by any of its direct or indirect Subsidiaries treated as a
partnership, disregarded entity or grantor trust (but only if such indirect Subsidiaries are held only through Subsidiaries treated as partnerships, disregarded entities or grantor trusts) for purposes of the applicable Tax, at the time of an
Exchange. A Reference Asset also includes any asset that is “substituted basis property” under section 7701(a)(42) of the Code with respect to a Reference Asset. 

“Schedule” means any of the following: (i) an Exchange Basis Schedule; (ii) a Tax Benefit Schedule; or
(iii) the Early Termination Schedule. 
 “Senior Obligations” is defined in Section 5.1 of this Agreement.

 “Subsidiaries” means, with respect to any Person, as of any date of determination, any other Person as to which
such Person owns, directly or indirectly, or otherwise controls more than 50% of the voting power or other similar interests or the sole general partner interest or managing member or similar interest of such Person. 

“Tax Benefit Payment” is defined in Section 3.1(b) of this Agreement. 

“Tax Benefit Schedule” is defined in Section 2.2 of this Agreement. 

  
 8 

 “Tax Return” means any return, declaration, report or similar
statement required to be filed with respect to Taxes (including any attached schedules), including, without limitation, any information return, claim for refund, amended return and declaration of estimated Tax. 

“Taxable Year” means a taxable year of the Corporate Taxpayer as defined in section 441(b) of the Code or comparable
section of state or local tax law, as applicable (and, therefore, for the avoidance of doubt, may include a period of less than twelve (12) months for which a Tax Return is made), ending on or after the IPO Date. 

“Taxes” means any and all U.S. federal, state, local and foreign taxes, assessments or similar charges that are based
on or measured with respect to net income or profits, and any interest related to such Tax. 
 “Taxing Authority”
shall mean any domestic, federal, national, state, county or municipal or other local government, any subdivision, agency, commission or authority thereof, or any quasi-governmental body exercising any taxing authority or any other authority
exercising Tax regulatory authority. 
 “TRA Party” is defined in the Preamble to this Agreement. 

“TRA Party Representative” means, initially, Blackstone Capital Partners VI
NQ-E L.P., a Delaware limited partnership, and thereafter, that TRA Party or committee of TRA Parties determined from time to time by a plurality vote of the TRA Parties ratably in accordance with their right
to receive Early Termination Payments hereunder if all TRA Parties had fully Exchanged their Units for Class A Shares or other consideration and the Corporate Taxpayer had exercised its right of early termination on the date of the most recent
Exchange. 
 “Treasury Regulations” means the final, temporary and proposed regulations under the Code promulgated
from time to time (including corresponding provisions and succeeding provisions) as in effect for the relevant taxable period. 

“Units” is defined in the Recitals of this Agreement. 

“Valuation Assumptions” shall mean, as of an Early Termination Date, the assumptions that in each Taxable Year ending
on or after such Early Termination Date, (1) the Corporate Taxpayer will have taxable income sufficient to fully utilize the deductions arising from the Basis Adjustments and the Imputed Interest during such Taxable Year or future Taxable Years
(including, for the avoidance of doubt, Basis Adjustments and Imputed Interest that would result from future Tax Benefit Payments that would be paid in accordance with the Valuation Assumptions) in which such deductions would become available,
(2) any Blocker Attributes or loss carryovers generated by deductions arising from Basis Adjustments or Imputed Interest will be used by the Corporate Taxpayer on a pro rata basis from the date of such Early Termination Date through the earlier
of (x) the scheduled expiration date under applicable Tax law of such Blocker Attributes or loss carryovers or (y) the fifth (5th) anniversary of the Early Termination Date, (3) the U.S. federal, state and local income tax rates that
will be in effect for each such Taxable Year will be those specified for each such Taxable Year by the Code and other law as in effect on the Early Termination Date and the Blended Rate will be calculated based on such rates and the apportionment
factor applicable in such Taxable Year, (4) any non-amortizable assets 

  
 9 

 
will be disposed of on the fifteenth (15th) anniversary of the applicable Basis Adjustment and any cash equivalents will be disposed of twelve (12) months following the Early Termination
Date; provided that in the event of a Change of Control that includes the taxable disposition of any non-amortizable assets, such non-amortizable assets shall be
deemed disposed of at the time of such disposition in the Change of Control (if earlier than such fifteenth (15th) anniversary or twelve (12) month period), (5) if, at the Early Termination Date, there are Units that have not been Exchanged,
then each such Unit shall be deemed Exchanged for the Market Value of the Class A Shares and the amount of cash that would be transferred if the Exchange occurred on the Early Termination Date and (6) payments required to be made during
such Taxable Year will be deemed made one hundred twenty-five (125) days after the due date (with extensions) of the U.S. federal income tax return of the Corporate Taxpayer filed during such Taxable Year. 

Section 1.2 Rules of Construction. Unless otherwise specified herein: 

 

	 	(a)	 The meanings of defined terms are equally applicable to the singular and plural forms of the defined terms.

 (b) For purposes of interpretation of this Agreement: 

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

(iii) References in this Agreement to dollars or “$” refer to the lawful currency of the United States of America.

 (iv) The term “including” is by way of example and not limitation. 

(v) The term “documents” includes any and all instruments, documents, agreements, certificates, notices, reports,
financial statements and other writings, however evidenced, whether in physical or electronic form. 
 (c) In the computation of periods of
time from a specified date to a later specified date, the word “from” means “from and including;” the words “to” and “until” each mean “to but excluding;” and the word “through” means
“to and including.” 
 (d) Section headings herein are included for convenience of reference only and shall not affect the
interpretation of this Agreement. 
 (e) Unless otherwise expressly provided herein, (i) references to organization documents (including
the LLC Agreement), agreements (including this Agreement) and other contractual instruments shall be deemed to include all subsequent amendments, restatements, extensions, supplements and other modifications thereto, but only to the extent that such
amendments, restatements, extensions, supplements and other modifications are permitted hereby; and (ii) references to any law (including the Code and the Treasury Regulations) shall include all statutory and regulatory provisions
consolidating, amending, replacing, supplementing or interpreting such law. 

  
 10 

 ARTICLE II 

DETERMINATION OF REALIZED TAX BENEFIT 

Section 2.1 Basis Schedules. Within ninety (90) calendar days after the due date (with
extensions) of the U.S. federal income tax return of the Corporate Taxpayer for each Taxable Year in which an Exchange has been effected by any TRA Party, the Corporate Taxpayer shall deliver to such TRA Party a schedule (the
“Exchange Basis Schedule”) that shows, in reasonable detail necessary to perform the calculations required by this Agreement (i) the
Non-Stepped-Up Tax Basis of the Reference Assets in respect of such TRA Party as of each applicable Exchange Date, (ii) the Basis Adjustment with respect to the
Reference Assets in respect of such TRA Party as a result of the Exchanges effected in such Taxable Year by such TRA Party, calculated in the aggregate, (iii) the period (or periods) over which the Reference Assets in respect of such TRA Party
are amortizable and/or depreciable and (iv) the period (or periods) over which each Basis Adjustment in respect of such TRA Party is amortizable and/or depreciable. 

Section 2.2 Tax Benefit Schedule. 

(a) Tax Benefit Schedule. Within ninety (90) calendar days after the due date (with extensions) of the U.S. federal income
tax return of the Corporate Taxpayer for any Taxable Year in which there is a Realized Tax Benefit, a Blocker Realized Tax Benefit or a Realized Tax Detriment in respect of a TRA Party (or a Continuing Common A Owner), the Corporate Taxpayer shall
provide to such TRA Party (or, in the case of a Continuing Common A Owner, the Continuing Common A Owners Representative) a schedule showing, in reasonable detail, the calculation of the Tax Benefit Payment or Blocker Tax Benefit Payment in respect
of such TRA Party or Continuing Common A Owner for such Taxable Year (a “Tax Benefit Schedule”). Each Tax Benefit Schedule will become final as provided in Section 2.3(a) and may be amended as provided in
Section 2.3(b) (subject to the procedures set forth in Section 2.3(b)). 
 (b) Applicable Principles. Subject to
Section 3.3(a), the Realized Tax Benefit, Blocker Realized Tax Benefit or Realized Tax Detriment for each Taxable Year is intended to measure the decrease or increase in the Actual Tax Liability of the Corporate Taxpayer for such Taxable Year
attributable to the Basis Adjustments, any Blocker Attributes and Imputed Interest, determined using a “with and without” methodology. Carryovers or carrybacks of any Tax items attributable to the Blocker Attributes, Basis Adjustments and
Imputed Interest shall be considered to be subject to the rules of the Code and the Treasury Regulations or the appropriate provisions of U.S. state and local income and franchise tax law, as applicable, governing the use, limitation and expiration
of carryovers or carrybacks of the relevant type. If a carryover or carryback of any Tax item includes a portion that is attributable to any Blocker Attributes, Basis Adjustments or Imputed Interest and another portion that is not, such portions
shall be considered to be used in accordance with the “with and without” methodology. The parties agree that (i) all Tax Benefit Payments attributable to the Basis Adjustments (other than Imputed

  
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Interest) will be treated as subsequent upward purchase price adjustments that have the effect of creating additional Basis Adjustments to Reference Assets for the Corporate Taxpayer in the year
of payment, (ii) as a result, such additional Basis Adjustments will be incorporated into the current year calculation and into future year calculations, as appropriate, (iii) all Blocker Tax Benefits Payments (other than Imputed Interest)
will be treated as subsequent upward purchase price adjustments in the Blocker Merger and (iv) the Actual Tax Liability will take into account the deduction of the portion of the Tax Benefit Payment or Blocker Tax Benefit Payment that must be
accounted for as Imputed Interest. 
 Section 2.3 Procedures, Amendments. 

(a) Procedure. Every time the Corporate Taxpayer delivers to a TRA Party or the Continuing Common A Owners Representative, as the case
may be, an applicable Schedule under this Agreement, including any Amended Schedule delivered pursuant to Section 2.3(b), and any Early Termination Schedule or amended Early Termination Schedule, the Corporate Taxpayer shall also
(x) deliver to such TRA Party or the Continuing Common A Owners Representative, as the case may be, supporting schedules and work papers, as determined by the Corporate Taxpayer or as reasonably requested by such TRA Party or the Continuing
Common A Owners Representative, as the case may be, providing reasonable detail regarding data and calculations that were relevant for purposes of preparing the Schedule and (y) allow such TRA Party or the Continuing Common A Owners
Representative, as the case may be, reasonable access at no cost to the appropriate representatives at the Corporate Taxpayer, as determined by the Corporate Taxpayer or as reasonably requested by such TRA Party or the Continuing Common A Owners
Representative, as the case may be, in connection with a review of such Schedule. Without limiting the generality of the preceding sentence, the Corporate Taxpayer shall ensure that any Tax Benefit Schedule that is delivered to a TRA Party or the
Continuing Common A Owners Representative, as the case may be, along with any supporting schedules and work papers, provides a reasonably detailed presentation of the calculation of the Actual Tax Liability of the Corporate Taxpayer, the Non-Stepped-Up Tax Liability and the Non-Blocker-Attribute Tax Liability, and identifies any material assumptions or operating
procedures or principles that were used for purposes of such calculations. An applicable Schedule or amendment thereto shall become final and binding on all parties thirty (30) calendar days from the date on which all relevant TRA Parties and
the Continuing Common A Owners Representative are treated as having received the applicable Schedule or amendment thereto under Section 7.1 unless the TRA Party Representative or the Continuing Common A Owners Representative, as the case may
be, (i) within thirty (30) calendar days from such date provides the Corporate Taxpayer with notice of a material objection to such Schedule (“Objection Notice”) made in good faith or (ii) provides a written
waiver of such right of any Objection Notice within the period described in clause (i) above, in which case such Schedule or amendment thereto becomes binding on the date the waiver is received by the Corporate Taxpayer. If the Corporate
Taxpayer and the TRA Party Representative or the Continuing Common A Owners Representative, as the case may be, for any reason, are unable to successfully resolve the issues raised in the Objection Notice within thirty (30) calendar days after
receipt by the Corporate Taxpayer of an Objection Notice, the Corporate Taxpayer and the TRA Party Representative or the Continuing Common A Owners Representative, as the case may be, shall employ the reconciliation procedures as described in
Section 7.9 of this Agreement (the “Reconciliation Procedures”). The TRA Party Representative or the Continuing Common 

  
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A Owners Representative, as the case may be, will fairly represent the interests of each of the TRA Parties or the Continuing Common A Owners, as the case may be, and shall timely raise and
pursue, in accordance with this Section 2.3(a), any reasonable objection to a Schedule or amendment thereto timely communicated in writing to the TRA Party Representative by a TRA Party or to the Continuing Common A Owners Representative by a
Continuing Common A Owner, as the case may be. 
 (b) Amended Schedule. The applicable Schedule for any Taxable Year may be amended
from time to time by the Corporate Taxpayer (i) in connection with a Determination affecting such Schedule, (ii) to correct inaccuracies in the Schedule identified as a result of the receipt of additional factual information relating to a
Taxable Year after the date the Schedule was provided to a TRA Party or the Continuing Common A Owners Representative, as the case may be, (iii) to comply with the Expert’s determination under the Reconciliation Procedures, (iv) to
reflect a change in the Realized Tax Benefit, Blocker Realized Tax Benefit or Realized Tax Detriment for such Taxable Year attributable to a carryback or carryforward of a loss or other tax item to such Taxable Year, (v) to reflect a change in
the Realized Tax Benefit, Blocker Realized Tax Benefit or Realized Tax Detriment for such Taxable Year attributable to an amended Tax Return filed for such Taxable Year, or (vi) to adjust an applicable Exchange Basis Schedule to take into
account payments made pursuant to this Agreement (any such Schedule, an “Amended Schedule”). The Corporate Taxpayer shall provide an Amended Schedule to each TRA Party or the Continuing Common A Owners Representative, as the
case may be, within sixty (60) calendar days of the occurrence of a material event referenced in clauses (i) through (v) of the preceding sentence. The Corporate Taxpayer shall provide any Amended Schedules resulting from other events
referenced in the first sentence of Section 2.3(b) to each TRA Party or the Continuing Common A Owners Representative, as the case may be, within ninety (90) calendar days after the due date (with extensions) of the U.S. federal income tax
return of the Corporate Taxpayer for the year in which such event occurs. 
 (c) Payments made under this Agreement to the Continuing Common
A Owners shall be treated as additional consideration pursuant to the Blocker Merger. 
 ARTICLE III 

TAX BENEFIT PAYMENTS 

Section 3.1 Payments. 

(a) Payments. Within five (5) calendar days after a Tax Benefit Schedule delivered to a TRA Party or the Continuing Common A Owners
Representative, as the case may be, becomes final in accordance with Section 2.3(a), the Corporate Taxpayer shall pay, as the case may be, such TRA Party or the Continuing Common A Owners Representative, which shall pay to the applicable
Continuing Common A Owner, for such Taxable Year (i) the Tax Benefit Payment determined pursuant to Section 3.1(b) that is allocable to such TRA Party, and/or (ii) the Blocker Tax Benefit Payment determined pursuant to
Section 3.1(c) that is allocable to such Continuing Common A Owner. Each such Tax Benefit Payment or Blocker Tax Benefit Payment shall be made by wire transfer of immediately available funds to the bank account previously designated by such TRA
Party or the Continuing Common A Owners Representative, as the case 

  
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may be, to the Corporate Taxpayer or as otherwise agreed by the Corporate Taxpayer and such TRA Party or the Continuing Common A Owners Representative, as the case may be. For the avoidance of
doubt, (x) no Tax Benefit Payment or Blocker Tax Benefit Payment shall be made in respect of estimated tax payments, including, without limitation, federal estimated income tax payments and (y) the payments provided for pursuant to clause
(i) of the above sentence shall be computed separately for each Exchange. Notwithstanding anything to the contrary in this Agreement, unless a TRA Party notifies the Corporate Taxpayer otherwise on or prior to the date of the Exchange, or
specifies a different stated maximum selling price, including, in each case, in connection with its Exchange Notice, the stated maximum selling price (within the meaning of Treasury Regulations section
15A.453-1(c)(2)) with respect to any Exchange by such TRA Party shall not exceed [•] of the amount of the initial consideration received in connection with such Exchange (which initial consideration, for
the avoidance of doubt, shall include the amount of any cash and the fair market value of any Class A Shares received in such Exchange and shall exclude the fair market value of any Tax Benefit Payments) and the amount of the initial
consideration received in connection with such Exchange and the aggregate Tax Benefit Payments to such TRA Party in respect of such Exchange (other than amounts accounted for as interest under the Code) shall not exceed such stated maximum selling
price. 
 (b) A “Tax Benefit Payment” in respect of a TRA Party for a Taxable Year means an amount, not less than
zero, equal to the sum of the portion of the Net Tax Benefit that is allocable to such TRA Party and the Interest Amount with respect thereto. For the avoidance of doubt, for Tax purposes, the Interest Amount shall not be treated as interest but
instead shall be treated as additional consideration for the acquisition of Units in Exchanges, unless otherwise required by law. Subject to Section 3.3(a), the “Net Tax Benefit” for a Taxable Year shall be an amount
equal to the excess, if any, of 85% of the Cumulative Net Realized Tax Benefit as of the end of such Taxable Year, over the total amount of payments previously made under clause (i) of the first sentence of Section 3.1(a) (excluding
payments attributable to Interest Amounts); provided, for the avoidance of doubt, that no such recipient shall be required to return any portion of any previously made Tax Benefit Payment. The “Interest Amount” shall
equal the interest on the Net Tax Benefit calculated at the Agreed Rate from the due date (without extensions) for filing the Tax Return of the Corporate Taxpayer with respect to Taxes for such Taxable Year until the payment date under
Section 3.1(a). The Tax Benefit Payment and portion treated as Imputed Interest shall be determined separately with respect to each Exchange, on a Unit-by-Unit
basis by reference to the resulting Basis Adjustment to the Corporate Taxpayer. 
 (c) A “Blocker Tax Benefit
Payment” in respect of a Continuing Common A Owner for a Taxable Year, means an amount, not less than zero, equal to the sum of the portion of the Blocker Net Tax Benefit that is allocable to such Continuing Common A Owner and the
Blocker Interest Amount with respect thereto. Subject to Section 3.3(a), the “Blocker Net Tax Benefit” for a Taxable Year shall be an amount equal to the excess, if any, of 85% of the Cumulative Blocker Net Realized Tax
Benefit as of the end of such Taxable Year, over the total amount of payments previously made under clause (ii) of the first sentence of Section 3.1(a) (excluding payments attributable to Blocker Interest Amounts); provided, for the
avoidance of doubt, that no such recipient shall be required to return any portion of any previously made Blocker Tax Benefit Payment. The “Blocker Interest Amount” shall equal the interest on the Blocker Net Tax Benefit
calculated at the Agreed Rate from the due date (without extensions) for filing the Tax Return of the Corporate Taxpayer with respect to Taxes for such Taxable Year until the payment date under Section 3.1(a). 

  
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 Section 3.2 No Duplicative Payments. It is intended
that the provisions of this Agreement will not result in duplicative payment of any amount (including interest) required under this Agreement. The provisions of this Agreement shall be construed in the appropriate manner to ensure such intentions
are realized. 
 Section 3.3 Pro Rata Payments. 

(a) Notwithstanding anything in Section 3.1 to the contrary, to the extent that the aggregate Tax benefit of the Corporate Taxpayer with
respect to the Blocker Attributes, the Basis Adjustments or Imputed Interest, as such terms are defined in this Agreement, is limited in a particular Taxable Year because the Corporate Taxpayer does not have sufficient taxable income, the Net Tax
Benefit or the Blocker Net Tax Benefit for the Corporate Taxpayer shall be allocated among all parties eligible for a Tax Benefit Payment (in the case of the Net Tax Benefit) or Blocker Tax Benefit Payment (in the case of the Blocker Net Tax
Benefit) under this Agreement in proportion to the amounts of Net Tax Benefit and Blocker Net Tax Benefit, respectively, that would have been allocated to each party if the Corporate Taxpayer had sufficient taxable income so that there were no such
limitation. 
 (b) After taking into account Section 3.3(a), if for any reason the Corporate Taxpayer does not fully satisfy its payment
obligations to make all Tax Benefit Payments and Blocker Tax Benefit Payments due under this Agreement in respect of a particular Taxable Year, then the Corporate Taxpayer, the TRA Parties and the Continuing Common A Owners Representative agree that
no Tax Benefit Payment or Blocker Tax Benefit Payment shall be made in respect of any Taxable Year until all Tax Benefit Payments and Blocker Tax Benefit Payments in respect of prior Taxable Years have been made in full. 

ARTICLE IV 

TERMINATION 

Section 4.1 Early Termination of Agreement; Breach of Agreement. 

(a) The Corporate Taxpayer may terminate this Agreement with respect to all amounts payable to the TRA Parties and the Continuing Common A
Owners Representative and with respect to all of the Units held by the TRA Parties at any time by paying to each TRA Party and the Continuing Common A Owners Representative the Early Termination Payment in respect of such TRA Party or the Continuing
Common A Owners Representative, as the case may be; provided, however, that this Agreement shall only terminate upon the receipt of the Early Termination Payment by all TRA Parties and the Continuing Common A Owners Representative, and
provided, further, that the Corporate Taxpayer may withdraw any notice to execute its termination rights under this Section 4.1(a) prior to the time at which any Early Termination Payment has been paid. Upon payment of the Early
Termination Payment by the Corporate Taxpayer, none of the TRA Parties, the Continuing Common A Owners Representative or the Corporate Taxpayer shall have any further payment obligations under this 

  
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Agreement, other than for any (1) Tax Benefit Payment or Blocker Tax Benefit Payment due and payable and that remains unpaid as of the Early Termination Notice, (2) Tax Benefit Payment
or Blocker Tax Benefit Payment that is the subject of an Objection Notice, which will be payable in accordance with resolution of the issues identified in such Objection Notice pursuant to this Agreement and (3) Tax Benefit Payment or Blocker
Tax Benefit Payment due for the Taxable Year ending with or including the date of the Early Termination Notice (except to the extent that the amount described in clause (2) or clause (3) is included in the Early Termination Payment). 

(b) In the event that there occurs a Change in Control or the Corporate Taxpayer (1) breaches any of its material obligations under this
Agreement, whether as a result of failure to make any payment when due, failure to honor any other material obligation required hereunder or by operation of law as a result of the rejection of this Agreement in a case commenced under the U.S.
Bankruptcy Code or otherwise or (2) (A) shall commence any case, proceeding or other action (i) under any existing or future law of any jurisdiction, domestic or foreign, relating to bankruptcy, insolvency, reorganization or relief of debtors,
seeking to have an order for relief entered with respect to it, or seeking to adjudicate it a bankrupt or insolvent, or seeking reorganization, arrangement, adjustment, winding-up, liquidation, dissolution,
composition or other relief with respect to it or its debts or (ii) seeking an appointment of a receiver, trustee, custodian, conservator or other similar official for it or for all or any substantial part of its assets, or it shall make a
general assignment for the benefit of creditors or (B) there shall be commenced against Corporate Taxpayer any case, proceeding or other action of the nature referred to in clause (A) above that remains undismissed or undischarged for a
period of sixty (60) days, all obligations hereunder shall be automatically accelerated and shall be immediately due and payable, and such obligations shall be calculated as if an Early Termination Notice had been delivered on the date of such
Change in Control or breach, as applicable, and shall include, but not be limited to, (I) the Early Termination Payments calculated as if an Early Termination Notice had been delivered on the date of such Change in Control or breach, as
applicable, (II) any Tax Benefit Payment or Blocker Tax Benefit Payment due and payable and that remains unpaid as of the date of such Change in Control or breach, as applicable, (III) any Tax Benefit Payment or Blocker Tax Benefit Payment
that is the subject of an Objection Notice, which will be payable in accordance with resolution of the issues identified in such Objection Notice pursuant to this Agreement and (IV) any Tax Benefit Payment or Blocker Tax Benefit Payment in
respect of any TRA Party or the Continuing Common A Owners Representative due for the Taxable Year ending with or including the date of such Change in Control or breach, as applicable; provided that procedures similar to the procedures of
Section 4.2 shall apply with respect to the determination of the amount payable by the Corporate Taxpayer pursuant to this sentence. Notwithstanding the foregoing (other than as set forth in subsection (2) above), in the event that there
occurs a Change in Control or the Corporate Taxpayer breaches its material obligations under this Agreement, each TRA Party and the Continuing Common A Owners Representative shall be entitled to elect to receive the amounts set forth in clauses (I),
(II), (III) and (IV) above or to seek specific performance of the terms hereof. The parties agree that the failure to make any payment due pursuant to this Agreement within three (3) months of the date such payment is due shall be deemed
to be a breach of a material obligation under this Agreement for all purposes of this Agreement, and that it will not be considered to be a breach of a material obligation under this Agreement to make a payment due pursuant to this Agreement within
three (3) months of the date such payment is due. Notwithstanding anything in this Agreement to the contrary, it shall not be a breach of this Agreement if the Corporate Taxpayer 

  
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fails to make any Tax Benefit Payment when due to the extent that the Corporate Taxpayer has insufficient funds to make such payment in the Corporate Taxpayer’s sole judgment exercised in
good faith; provided that the interest provisions of Section 5.2 shall apply to such late payment (unless the Corporate Taxpayer does not have sufficient cash to make such payment as a result of limitations imposed by existing credit
agreements to which OpCo or any of its Subsidiaries is a party, in which case Section 5.2 shall apply, but the Default Rate shall be replaced by the Agreed Rate). 

Section 4.2 Early Termination Notice. If the Corporate Taxpayer chooses to exercise its right of early
termination under Section 4.1 above, the Corporate Taxpayer shall deliver to each TRA Party and the Continuing Common A Owners Representative notice of such intention to exercise such right (“Early Termination Notice”)
and a schedule (the “Early Termination Schedule”) specifying the Corporate Taxpayer’s intention to exercise such right and showing in reasonable detail the calculation of the Early Termination Payment(s) due for each TRA
Party and the Continuing Common A Owners Representative. Each Early Termination Schedule shall become final and binding on all parties thirty (30) calendar days from the first date on which all TRA Parties and the Continuing Common A Owners
Representative are treated as having received such Schedule or amendment thereto under Section 7.1 unless the TRA Party Representative or the Continuing Common A Owners Representative, as the case may be, (i) within thirty
(30) calendar days after such date provides the Corporate Taxpayer with notice of a material objection to such Schedule made in good faith (“Material Objection Notice”) or (ii) provides a written waiver of such
right of a Material Objection Notice within the period described in clause (i) above, in which case such Schedule becomes binding on the date the waiver is received by the Corporate Taxpayer. If the Corporate Taxpayer and the TRA Party
Representative or the Continuing Common A Owners Representative, as the case may be, for any reason, are unable to successfully resolve the issues raised in such notice within thirty (30) calendar days after receipt by the Corporate Taxpayer of
the Material Objection Notice, the Corporate Taxpayer and the TRA Party Representative or the Continuing Common A Owners Representative, as the case may be, shall employ the Reconciliation Procedures in which case such Schedule becomes binding ten
(10) days after the conclusion of the Reconciliation Procedures. The TRA Party Representative or the Continuing Common A Owners Representative, as the case may be, will fairly represent the interests of each of the TRA Parties or the Continuing
Common A Owners, as the case may be, and shall timely raise and pursue, in accordance with this Section 4.2, any reasonable objection to an Early Termination Schedule or amendment thereto timely communicated in writing to the TRA Party
Representative by a TRA Party or to the Continuing Common A Owners Representative by a Continuing Common A Owner, as the case may be. 

Section 4.3 Payment upon Early Termination. 

(a) Within three (3) calendar days after an Early Termination Effective Date, the Corporate Taxpayer shall pay to the TRA Party and the
Continuing Common A Owners Representative an amount equal to the Early Termination Payment in respect of such TRA Party or the Continuing Common A Owners Representative, as the case may be. Such payment shall be made by wire transfer of immediately
available funds to a bank account or accounts designated by the TRA Party or the Continuing Common A Owners Representative, as the case may be, or as otherwise agreed by the Corporate Taxpayer and such TRA Party or Continuing Common A Owners
Representative, as the case may be. 

  
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 (b) “Early Termination Payment” in respect of a TRA Party or the
Continuing Common A Owners Representative, as the case may be, shall equal the present value, discounted at the Early Termination Rate as of the applicable Early Termination Effective Date, of all Tax Benefit Payments or Blocker Tax Benefit Payments
in respect of such TRA Party or the Continuing Common A Owners Representative, as the case may be, that would be required to be paid by the Corporate Taxpayer beginning from the Early Termination Date and assuming that the Valuation Assumptions in
respect of such TRA Party or the Continuing Common A Owners Representative, as the case may be, are applied. 
 ARTICLE V 

SUBORDINATION AND LATE PAYMENTS 

Section 5.1 Subordination. Notwithstanding any other provision of this Agreement to the contrary, any
Tax Benefit Payment, Blocker Tax Benefit Payment or Early Termination Payment required to be made by the Corporate Taxpayer to the TRA Parties or the Continuing Common A Owners Representative under this Agreement shall rank subordinate and junior in
right of payment to any principal, interest or other amounts due and payable in respect of any obligations in respect of indebtedness for borrowed money of the Corporate Taxpayer and its Subsidiaries (“Senior Obligations”)
and shall rank pari passu in right of payment with all current or future unsecured obligations of the Corporate Taxpayer that are not Senior Obligations. To the extent that any payment under this Agreement is not permitted to be made at the time
payment is due as a result of this Section 5.1 and the terms of agreements governing Senior Obligations, such payment obligation nevertheless shall accrue for the benefit of TRA Parties or the Continuing Common A Owners Representative, as the
case may be, and the Corporate Taxpayer shall make such payments at the first opportunity that such payments are permitted to be made in accordance with the terms of the Senior Obligations. 

Section 5.2 Late Payments by the Corporate Taxpayer. The amount of all or any portion of any Tax
Benefit Payment, Blocker Tax Benefit Payment or Early Termination Payment not made to the TRA Parties or Continuing Common A Owners Representative when due under the terms of this Agreement shall be payable together with any interest thereon,
computed at the Default Rate and commencing from the date on which such Tax Benefit Payment, Blocker Tax Benefit Payment or Early Termination Payment was first due and payable to the date of actual payment. 

ARTICLE VI 
 NO
DISPUTES; CONSISTENCY; COOPERATION 
 Section 6.1 Participation in the Corporate
Taxpayer’s and OpCo’s Tax Matters. Except as otherwise provided herein, and except as provided in Article V of the LLC Agreement, the Corporate Taxpayer shall have full
responsibility for, and sole discretion over, all Tax matters concerning the Corporate Taxpayer and OpCo, including without limitation the 

  
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preparation, filing or amending of any Tax Return and defending, contesting or settling any issue pertaining to Taxes. Notwithstanding the foregoing, the Corporate Taxpayer shall notify the TRA
Party Representative or the Continuing Common A Owners Representative, as the case may be, of, and keep the TRA Party Representative or the Continuing Common A Owners Representative, as the case may be, reasonably informed with respect to, the
portion of any audit of the Corporate Taxpayer and OpCo by a Taxing Authority the outcome of which is reasonably expected to materially affect the rights and obligations of a TRA Party or the Continuing Common A Owners Representative, as the case
may be, under this Agreement, and shall provide to the TRA Party Representative or the Continuing Common A Owners Representative, as the case may be, reasonable opportunity to provide information and other input to the Corporate Taxpayer, OpCo and
their respective advisors concerning the conduct of any such portion of such audit; provided, however, that the Corporate Taxpayer and OpCo shall not be required to take any action that is inconsistent with any provision of the LLC
Agreement. 
 Section 6.2 Consistency. The Corporate Taxpayer, the TRA Parties and the Continuing
Common A Owners Representative agree to report and cause to be reported for all purposes, including federal, state and local Tax purposes and financial reporting purposes, all Tax-related items (including,
without limitation, the Basis Adjustments and each Tax Benefit Payment or Blocker Tax Benefit Payment) in a manner consistent with that contemplated by this Agreement or specified by the Corporate Taxpayer in any Schedule required to be provided by
or on behalf of the Corporate Taxpayer under this Agreement unless otherwise required by law. The Corporate Taxpayer shall (and shall cause OpCo and its other Subsidiaries to) use reasonable efforts (for the avoidance of doubt, taking into account
the interests and entitlements of all TRA Parties and the Continuing Common A Owners Representative under this Agreement) to defend the Tax treatment contemplated by this Agreement and any Schedule in any audit, contest or similar proceeding with
any Taxing Authority. 
 Section 6.3 Cooperation. Each of the TRA Parties and the Continuing Common
A Owners Representative shall (a) furnish to the Corporate Taxpayer in a timely manner such information, documents and other materials as the Corporate Taxpayer may reasonably request for purposes of making any determination or computation
necessary or appropriate under this Agreement, preparing any Tax Return or contesting or defending any audit, examination or controversy with any Taxing Authority, (b) make itself available to the Corporate Taxpayer and its representatives to
provide explanations of documents and materials and such other information as the Corporate Taxpayer or its representatives may reasonably request in connection with any of the matters described in clause (a) above, and (c) reasonably
cooperate in connection with any such matter, and the Corporate Taxpayer shall reimburse each such TRA Party or the Continuing Common A Owners Representative, as the case may be, for any reasonable and documented out-of-pocket costs and expenses incurred pursuant to this Section. 

  
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 ARTICLE VII 

MISCELLANEOUS 

Section 7.1 Notices. All notices, requests, claims, demands and other communications hereunder shall
be in writing and shall be deemed duly given and received (a) on the date of delivery if delivered personally, or by facsimile or email with confirmation of transmission by the transmitting equipment or (b) on the first Business Day
following the date of dispatch if delivered by a recognized next-day courier service. All notices hereunder shall be delivered as set forth below, or pursuant to such other instructions as may be designated in
writing by the party to receive such notice: 
 If to the Corporate Taxpayer, to: 

Exeter Finance Corporation 
 222
W. Las Colinas Blvd., Suite 1800 
 Irving, Texas 75039 

Attention: [●] 
 Fax:
[●] 
 Email: [●] 

with a copy to: 
 Exeter Finance
Corporation 
 222 W. Las Colinas Blvd., Suite 1800 

Irving, Texas 75039 
 Attention:
[●] 
 Fax: [●] 

Email: [●] 
 If to the TRA
Parties or the Continuing Common A Owners Representative, to the respective addresses, fax numbers and email addresses set forth in the records of OpCo. 

Any party may change its address, fax number or email by giving the other party written notice of its new address, fax number or email in the manner set forth
above. 
 Section 7.2 Counterparts. This Agreement may be executed in one or more counterparts, all
of which shall be considered one and the same agreement and shall become effective when one or more counterparts have been signed by each of the parties and delivered to the other parties, it being understood that all parties need not sign the same
counterpart. Delivery of an executed signature page to this Agreement by facsimile transmission shall be as effective as delivery of a manually signed counterpart of this Agreement. 

Section 7.3 Entire Agreement; No Third Party Beneficiaries. This Agreement constitutes the entire
agreement and supersedes all prior agreements and understandings, both written and oral, among the parties with respect to the subject matter hereof. This Agreement shall be binding upon and inure solely to the benefit of each party hereto and their
respective successors and permitted assigns, and nothing in this Agreement, express or implied, is intended to or shall confer upon any other Person any right, benefit or remedy of any nature whatsoever under or by reason of this Agreement. 

Section 7.4 Governing Law. This Agreement shall be governed by, and construed in accordance with, the
law of the State of New York. 

  
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 Section 7.5 Severability. If any term or other
provision of this Agreement is invalid, illegal or incapable of being enforced by any law or public policy, all other terms and provisions of this Agreement shall nevertheless remain in full force and effect so long as the economic or legal
substance of the transactions contemplated hereby is not affected in any manner materially adverse to any party. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the parties hereto shall
negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in an acceptable manner in order that the transactions contemplated hereby are consummated as originally contemplated to the
greatest extent possible. 
 Section 7.6 Successors; Assignment; Amendments; Waivers. 

(a) Without obtaining the consent of any TRA Party or other Person, each TRA Party and the Continuing Common A Owners Representative may assign
any of their rights under this Agreement to any Person as long as such transferee has executed and delivered, or, in connection with such transfer, executes and delivers, a joinder to this Agreement, in form and substance reasonably satisfactory to
the Corporate Taxpayer, agreeing to become a party for all purposes of this Agreement, except as otherwise provided in such joinder. 
 (b)
No provision of this Agreement may be amended unless such amendment is approved in writing by each of the Corporate Taxpayer and by the parties hereunder who would be entitled to receive at least two-thirds of
the total amount of the Early Termination Payments payable to all TRA Parties and the Continuing Common A Owners Representative hereunder if the Corporate Taxpayer had exercised its right of early termination on the date of the most recent Exchange
prior to such amendment (excluding, for purposes of this sentence, all payments made to any TRA Party or the Continuing Common A Owners Representative pursuant to this Agreement since the date of such most recent Exchange); provided that no
such amendment shall be effective if such amendment will have a disproportionate effect on the payments one or more TRA Parties or the Continuing Common A Owners Representative receive under this Agreement unless such amendment is consented in
writing by such TRA Parties or the Continuing Common A Owners Representative disproportionately affected who would be entitled to receive at least two-thirds of the total amount of the Early Termination
Payments payable to all TRA Parties or the Continuing Common A Owners Representative disproportionately affected hereunder if the Corporate Taxpayer had exercised its right of early termination on the date of the most recent Exchange prior to such
amendment (excluding, for purposes of this sentence, all payments made to any TRA Party or the Continuing Common A Owners Representative pursuant to this Agreement since the date of such most recent Exchange). No provision of this Agreement may be
waived unless such waiver is in writing and signed by the party against whom the waiver is to be effective. 
 (c) All of the terms and
provisions of this Agreement shall be binding upon, shall inure to the benefit of and shall be enforceable by the parties hereto and their respective successors, assigns, heirs, executors, administrators and legal representatives. The Corporate
Taxpayer shall require and cause any direct or indirect successor (whether by purchase, merger, consolidation or otherwise) to all or substantially all of the business or assets of the Corporate Taxpayer, by written agreement, expressly to assume
and agree to perform this Agreement in the same manner and to the same extent that the Corporate Taxpayer would be required to perform if no such succession had taken place. 

  
 21 

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

Section 7.8 Resolution of Disputes. 

(a) Any and all disputes which are not governed by Section 7.9 and cannot be settled amicably, including any ancillary claims of any
party, arising out of, relating to or in connection with the validity, negotiation, execution, interpretation, performance or non-performance of this Agreement (including the validity, scope and enforceability
of this arbitration provision) (each a “Dispute”) shall be finally settled by arbitration conducted by a single arbitrator in New York in accordance with the then-existing Rules of Arbitration of the International Chamber of
Commerce. If the parties to the Dispute fail to agree on the selection of an arbitrator within thirty (30) calendar days of the receipt of the request for arbitration, the International Chamber of Commerce shall make the appointment. The
arbitrator shall be a lawyer admitted to the practice of law in the State of New York and shall conduct the proceedings in the English language. Performance under this Agreement shall continue if reasonably possible during any arbitration
proceedings. 
 (b) Notwithstanding the provisions of Section 7.8(a), the Corporate Taxpayer may bring an action or special proceeding
in any court of competent jurisdiction for the purpose of compelling a party to arbitrate, seeking temporary or preliminary relief in aid of an arbitration hereunder, and/or enforcing an arbitration award and, for the purposes of this
Section 7.8(b), each TRA Party and the Continuing Common A Owners Representative (i) expressly consents to the application of Section 7.8(c) to any such action or proceeding, (ii) agrees that proof shall not be required that
monetary damages for breach of the provisions of this Agreement would be difficult to calculate and that remedies at law would be inadequate, and (iii) irrevocably appoints the Corporate Taxpayer as agent of such TRA Party and the Continuing
Common A Owners Representative for service of process in connection with any such action or proceeding and agrees that service of process upon such agent, who shall promptly advise the TRA Party or the Continuing Common A Owners Representative of
any such service of process, shall be deemed in every respect effective service of process upon the TRA Party or Continuing Common A Owners Representative in any such action or proceeding. 

(c) (i) EACH PARTY HEREBY IRREVOCABLY SUBMITS TO THE JURISDICTION OF COURTS LOCATED IN NEW YORK, NEW YORK FOR THE PURPOSE OF ANY JUDICIAL
PROCEEDING BROUGHT IN ACCORDANCE WITH THE PROVISIONS OF THIS SECTION 7.8, OR ANY JUDICIAL PROCEEDING ANCILLARY TO AN ARBITRATION OR CONTEMPLATED ARBITRATION ARISING OUT OF OR RELATING TO OR CONCERNING THIS AGREEMENT. Such ancillary judicial
proceedings include any suit, action or proceeding to compel arbitration, to obtain temporary or preliminary judicial relief in aid of arbitration, or to confirm an arbitration award. The parties acknowledge that the fora designated by this
Section 7.8(c) have a reasonable relation to this Agreement and to the parties’ relationship with one another; and 

  
 22 

 (ii) The parties hereby waive, to the fullest extent permitted by applicable
law, any objection which they now or hereafter may have to personal jurisdiction or to the laying of venue of any such ancillary suit, action or proceeding brought in any court referred to in Section 7.8(c)(i) and such parties agree not to
plead or claim the same. 
 Section 7.9 Reconciliation. In the event that the Corporate Taxpayer and
the TRA Party Representative or the Continuing Common A Owners Representative, as the case may be, are unable to resolve a disagreement with respect to the matters governed by Sections 2.3 and 4.2 within the relevant period designated in this
Agreement (“Reconciliation Dispute”), the Reconciliation Dispute shall be submitted for determination to a nationally recognized expert (the “Expert”) in the particular area of disagreement mutually
acceptable to both parties. The Expert shall be a partner or principal in a nationally recognized accounting or law firm, and unless the Corporate Taxpayer and the TRA Party Representative or the Continuing Common A Owners Representative, as the
case may be, agree otherwise, the Expert shall not, and the firm that employs the Expert shall not, have any material relationship with the Corporate Taxpayer or the TRA Party Representative or the Continuing Common A Owners Representative, as the
case may be, or other actual or potential conflict of interest. If the Corporate Taxpayer and the TRA Party Representative or the Continuing Common A Owners Representative, as the case may be, are unable to agree on an Expert within fifteen
(15) calendar days of receipt by the respondent(s) of written notice of a Reconciliation Dispute, the Expert shall be appointed by the International Chamber of Commerce Centre for Expertise. The Expert shall resolve any matter relating to the
Exchange Basis Schedule or an amendment thereto or the Early Termination Schedule or an amendment thereto within thirty (30) calendar days and shall resolve any matter relating to a Tax Benefit Schedule or an amendment thereto within fifteen
(15) calendar days or as soon thereafter as is reasonably practicable, in each case after the matter has been submitted to the Expert for resolution. Notwithstanding the preceding sentence, if the matter is not resolved before any payment that
is the subject of a disagreement would be due (in the absence of such disagreement) or any Tax Return reflecting the subject of a disagreement is due, the undisputed amount shall be paid on the date prescribed by this Agreement and such Tax Return
may be filed as prepared by the Corporate Taxpayer, subject to adjustment or amendment upon resolution. The costs and expenses relating to the engagement of such Expert or amending any Tax Return shall be borne by the Corporate Taxpayer except as
provided in the next sentence. The Corporate Taxpayer and the TRA Party Representative or the Continuing Common A Owners Representative, as the case may be, shall bear their own costs and expenses of such proceeding, unless (i) the Expert
adopts the position of the TRA Party Representative or the Continuing Common A Owners Representative, as the case may be, in which case the Corporate Taxpayer shall reimburse the TRA Party Representative or the Continuing Common A Owners
Representative, as the case may be, for any reasonable out-of-pocket costs and expenses in such proceeding, or (ii) the Expert adopts the Corporate Taxpayer’s
position, in which case the TRA Party Representative or the Continuing Common A Owners Representative, as the case may be, shall reimburse the Corporate Taxpayer for any reasonable
out-of-pocket costs and expenses in such proceeding. Any dispute as to whether a dispute is a Reconciliation Dispute within the meaning of this Section 7.9 shall be
decided by the Expert. The Expert shall finally determine any Reconciliation Dispute and the determinations of the Expert pursuant to this Section 7.9 shall be binding on the Corporate Taxpayer and each of the TRA Parties or the Continuing
Common A Owners Representative, as the case may be, and may be entered and enforced in any court having jurisdiction. 

  
 23 

 Section 7.10 Withholding. The Corporate Taxpayer
shall be entitled to deduct and withhold from any payment payable pursuant to this Agreement such amounts as the Corporate Taxpayer is required to deduct and withhold with respect to the making of such payment under the Code or any provision of
state, local or foreign tax law. To the extent that amounts are so withheld and paid over to the appropriate Taxing Authority by the Corporate Taxpayer, such withheld amounts shall be treated for all purposes of this Agreement as having been paid to
the Person in respect of whom such withholding was made. 
 Section 7.11 Admission of the Corporate Taxpayer
into a Consolidated Group; Transfers of Corporate Assets. 
 (a) If the Corporate Taxpayer is or becomes a member of an affiliated or
consolidated group of corporations that files a consolidated income tax return pursuant to sections 1501 et seq. of the Code or any corresponding provisions of state or local law, then: (i) the provisions of this Agreement shall be applied with
respect to the group as a whole; and (ii) Tax Benefit Payments, Blocker Tax Benefit Payments, Early Termination Payments and other applicable items hereunder shall be computed with reference to the consolidated taxable income of the group as a
whole. 
 (b) If OpCo or any entity that is obligated to make a Tax Benefit Payment, Blocker Tax Benefit Payment or Early Termination Payment
hereunder transfers one or more assets to a corporation (or a Person classified as a corporation for U.S. federal income tax purposes) with which such entity does not file a consolidated tax return pursuant to section 1501 of the Code or any
corresponding provisions of state, local or foreign law (including as a result of any series of transactions or acts), such entity, for purposes of calculating the amount of any Tax Benefit Payment, Blocker Tax Benefit Payment or Early Termination
Payment (e.g., calculating the gross income of the entity and determining the Realized Tax Benefit of such entity) due hereunder, shall be treated as having disposed of such asset in a fully taxable transaction on the date of such contribution. The
consideration deemed to be received by such entity shall be equal to the gross fair market value of the contributed asset. For purposes of this Section 7.11, a transfer of a partnership interest shall be treated as a transfer of the
transferring partner’s share of each of the assets and liabilities of that partnership. 
 Section 7.12
Confidentiality. 
 (a) Each TRA Party and the Continuing Common A Owners Representative and each of their assignees
acknowledge and agree that the information of the Corporate Taxpayer is confidential and, except in the course of performing any duties as necessary for the Corporate Taxpayer and its Affiliates, as required by law or legal process (including filing
a copy of this Agreement as an exhibit to filings made with the Securities and Exchange Commission) or to enforce the terms of this Agreement, such person shall keep and retain in the strictest confidence and not disclose to any Person any
confidential matters, acquired pursuant to this Agreement, of the Corporate Taxpayer and its Affiliates and successors, concerning OpCo and its Affiliates and successors of the TRA Party or the Continuing Common A Owners

  
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Representative, learned by the TRA Party or the Continuing Common A Owners Representative, as the case may be, heretofore or hereafter. This Section 7.12 shall not apply to (i) any
information that has been made publicly available by the Corporate Taxpayer or any of its Affiliates, becomes public knowledge (except as a result of an act of the TRA Party in violation of this Agreement) or is generally known to the business
community and (ii) the disclosure of information to the extent necessary for a TRA Party or a Continuing Common A Owner to prepare and file its Tax Returns, to respond to any inquiries regarding the same from any taxing authority or to
prosecute or defend any action, proceeding or audit by any taxing authority with respect to such returns. Notwithstanding anything to the contrary herein, each TRA Party, the Continuing Common A Owners Representative and each of their assignees (and
each employee, representative or other agent of the TRA Party or its assignees, as applicable) may disclose to any and all Persons, without limitation of any kind, the tax treatment and tax structure of the Corporate Taxpayer, OpCo and their
Affiliates, and any of their transactions, and all materials of any kind (including opinions or other tax analyses) that are provided to such TRA Party or the Continuing Common A Owners Representative, as the case may be, relating to such tax
treatment and tax structure. 
 (b) If a TRA Party, the Continuing Common A Owners Representative or an assignee commits a breach, or
threatens to commit a breach, of any of the provisions of this Section 7.12, the Corporate Taxpayer shall have the right and remedy to have the provisions of this Section 7.12 specifically enforced by injunctive relief or otherwise by any
court of competent jurisdiction without the need to post any bond or other security, it being acknowledged and agreed that any such breach or threatened breach shall cause irreparable injury to the Corporate Taxpayer or any of its Subsidiaries, the
TRA Parties or the Continuing Common A Owners Representative and the accounts and funds managed by the Corporate Taxpayer and that money damages alone shall not provide an adequate remedy to such Persons. Such rights and remedies shall be in
addition to, and not in lieu of, any other rights and remedies available at law or in equity. 
 Section 7.13
Change in Law. Notwithstanding anything herein to the contrary, if, in connection with an actual or proposed change in law, a TRA Party reasonably believes that the existence of this Agreement could cause income (other than income
arising from receipt of a payment under this Agreement) recognized by the TRA Party upon any Exchange by such TRA Party to be treated as ordinary income rather than capital gain (or otherwise taxed at ordinary income rates) for U.S. federal income
tax purposes or would have other material adverse tax consequences to such TRA Party, then at the election of such TRA Party and to the extent specified by such TRA Party, this Agreement (i) shall cease to have further effect with respect to
such TRA Party, (ii) shall not apply to an Exchange by such TRA Party occurring after a date specified by such TRA Party, or (iii) shall otherwise be amended in a manner determined by such TRA Party, provided that such amendment shall not
result in an increase in payments under this Agreement at any time as compared to the amounts and times of payments that would have been due in the absence of such amendment. 

[The remainder of this page is intentionally blank] 

  
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 IN WITNESS WHEREOF, the Corporate Taxpayer, each TRA Party and the Continuing Common A
Owners Representative have duly executed this Agreement as of the date first written above. 
  

			
	Corporate Taxpayer:
	
	Exeter Finance Corporation

 
			
		
	By:	 	  

 
			
	Name: Jason Grubb
	Title: Chief Executive Officer
	
	TRA Parties:
	
	[●]
	
	Continuing Common A Owners Representative:
	
	[●]

 [Signature Page – Exeter Tax Receivable Agreement]EX-10.3

 Exhibit 10.3 

REGISTRATION RIGHTS AGREEMENT 

This Registration Rights Agreement (as amended, restated, supplemented or otherwise modified from time to time, this
“Agreement”) is dated as of             , 2019, and is between Exeter Finance Corporation, a Delaware corporation (the “Company”), and the
Blackstone Holders (as defined below), the Navigation Holders (as defined below) and the other holders of Registrable Securities (as defined below) party hereto. Such holders of Registrable Securities party hereto are collectively referred to herein
as the “Securityholders.” 
 ARTICLE I 

DEFINITIONS 
 In
this Agreement: 
 “Affiliate” has the meaning ascribed thereto in Rule 12b-2
promulgated under the Exchange Act, as in effect on the date hereof. 
 “Agreement” has the meaning set forth in the
preamble. 
 “Blackstone” means the entities comprising the Blackstone Holders, their respective Affiliates and the
successors and permitted assigns of the entities and their respective Affiliates. 
 “Blackstone Demand Notice” has
the meaning set forth in Section 2.1(a) hereof. 
 “Blackstone Holders” means the entities
listed on the signature pages hereto under the heading “Blackstone Holders.” 
 “Business Day” means a day
other than a Saturday, Sunday, federal or New York State holiday or other day on which commercial banks in New York City are authorized or required by law to close. 

“Class A Common Stock” means the shares of Class A common stock, par value $0.0001 per share, of the Company, and
any other capital stock of the Company into which such common stock is reclassified or reconstituted, including by way of a stock dividend or stock split. 

“Class B Common Stock” means the shares of Class B common stock, par value $0.0001 per share, of the Company, and
any other capital stock of the Company into which such common stock is reclassified or reconstituted, including by way of a stock dividend or stock split. 

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

 “Control” (including its correlative meanings,
“Controlled by” and “under common Control with”) means possession, directly or indirectly, of the power to direct or cause the direction of management or policies (whether through ownership of
securities or partnership or other ownership interests, by contract or otherwise) of a Person. 
 “Exchange Act”
means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder, as the same may be amended from time to time. 

“FINRA” means the Financial Industry Regulatory Authority, Inc. 

“IPO” means an underwritten registered public offering of the Company’s Class A Common Stock in connection
with which the Class A Common Stock first becomes listed on a Recognized Exchange. 
 “LLC Agreement” means the
Amended and Restated Limited Liability Company Agreement of the Exeter Finance LLC, dated on or about the date hereof, as such agreement may be amended from time to time. 

“LLC Units” means common units and any other class of units or interests that is established in Exeter Finance LLC.

 “Navigation” means Navigation Capital Partners or such entity or entities comprising the Navigation Holders,
their respective Affiliates, successors and permitted assigns. 
 “Navigation Holders” means the entities listed on
the signature pages hereto under the heading “Navigation Holders.” 
 “Person” means an individual, a
partnership, a corporation, a limited liability company, an association, a joint stock company, a trust, a joint venture, a cooperative, an unincorporated organization, or other form of business organization, whether or not regarded as a legal
entity under applicable law, or any governmental authority or any department, agency or political subdivision thereof. 

“Recognized Exchange” means The New York Stock Exchange or the Nasdaq National Market. 

“Registrable Securities” means (i) shares of Class A Common Stock that may be delivered in exchange for LLC
Units and shares of Class B Common Stock,(ii) other shares of Class A Common Stock otherwise held by Securityholders from time to time and (iii) any Securities into which the Class A Common Stock may be converted or exchanged
pursuant to any merger, recapitalization, consolidation, sale of all or any part of its assets, corporate conversion, reorganization or other extraordinary transaction of the Company held by a Securityholder (in each case whether now held or
hereafter acquired, and including any such Securities received as a result of a stock dividend or stock split or received by a Securityholder upon the conversion or exchange of, or pursuant to such a transaction with respect to, other Securities
held by such Securityholder). For purposes of this Agreement, Registrable Securities shall cease to be Registrable Securities when (i) a registration statement covering resales of such 

 
Registrable Securities has been declared effective under the Securities Act by the SEC and such Registrable Securities have been disposed of pursuant to such effective registration statement,
(ii) such Registrable Securities are eligible to be sold by Securityholders owning such Registrable Securities pursuant to Rule 144 or 145 (or any similar provision then in effect) under the Securities Act, without limitation thereunder on
volume or manner of sale, unless such Registrable Securities are held by a Holder that beneficially own Shares representing five (5) percent or more of the aggregate voting power of shares of Class A Common Stock and Class B Common
Stock, taken together, eligible to vote in the election of directors of the Company or (iii) such Registrable Securities cease to be outstanding (or issuable upon exchange). 

“Registration Expenses” means any and all expenses incurred in connection with the performance of or compliance with
this Agreement, including: 
 (a) all SEC, stock exchange, or FINRA registration and filing fees (including, if applicable, the fees and
expenses of any “qualified independent underwriter,” as such term is defined in Rule 5121 of FINRA, and of its counsel); 
 (b) all
fees and expenses of complying with securities or blue sky laws (including fees and disbursements of counsel for the underwriters in connection with blue sky qualifications of the Registrable Securities); 

(c) all printing, messenger and delivery expenses; 

(d) all fees and expenses incurred in connection with the listing of the Registrable Securities on any securities exchange or FINRA and all
rating agency fees; 
 (e) the reasonable fees and disbursements of counsel for the Company and of its independent public accountants,
including the expenses of any special audits and/or “cold comfort” letters required by or incident to such performance and compliance; 

(f) any fees and disbursements of underwriters customarily paid by the issuers or sellers of Securities, including liability insurance if the
Company so desires or if the underwriters so require, and the reasonable fees and expenses of any special experts retained in connection with the requested registration, but excluding underwriting discounts and commissions and transfer taxes, if
any; 
 (g) the reasonable fees and out-of-pocket expenses of
not more than one law firm (as selected by Blackstone, if it is participating in such registration, and otherwise, by Securityholders of a majority of the Registrable Securities included in such registration) incurred by all the Securityholders in
connection with the registration; 
 (h) the costs and expenses of the Company relating to analyst and investor presentations or any
“road show” undertaken in connection with the registration and/or marketing of the Registrable Securities (including the reasonable out-of-pocket expenses of
the Securityholders); and 
 (i) any other fees and disbursements customarily paid by the issuers of Securities. 

 “SEC” means the U.S. Securities and Exchange Commission or any
successor agency. 
 “Shares” means shares of Class A Common Stock of the Company. 

“Securities” means capital stock, limited partnership interests, limited liability company interests, beneficial
interests, warrants, options, notes, bonds, debentures, and other securities, equity interests, ownership interests and similar obligations of every kind and nature of any Person. 

“Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder,
as the same may be amended from time to time. 
 “Securityholders” has the meaning set forth in the preamble. 

“Subsidiary” means, with respect to any Person, any corporation, limited liability company, partnership, association
or other business entity of which: (i) if a corporation, a majority of the total voting power of shares of stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors, representatives or trustees
thereof is at the time owned or Controlled, directly or indirectly, by that Person or one or more of the other Subsidiaries of that Person or a combination thereof; or (ii) if a limited liability company, partnership, association or other
business entity, a majority of the total voting power of stock (or equivalent ownership interest) of the limited liability company, partnership, association or other business entity is at the time owned or Controlled, directly or indirectly, by any
Person or one or more Subsidiaries of that Person or a combination thereof. For purposes hereof, a Person or Persons shall be deemed to have a majority ownership interest in a limited liability company, partnership, association or other business
entity if such Person or Persons shall be allocated a majority of limited liability company, partnership, association or other business entity gains or losses or shall be or Control the managing director or general partner of such limited liability
company, partnership, association or other business entity. 
 “WKSI” means a well-known seasoned issuer, as defined
in Rule 405 under the Securities Act. 
 ARTICLE II 

DEMAND AND PIGGYBACK RIGHTS 

2.1 Right to Demand a Non-Shelf Registered Offering. 

(a) Upon the written demand of Blackstone made at any time and from time to time following the Company’s IPO (a
“Blackstone Demand Notice”) or of Navigation made at any time following the Company’s IPO, but in no event more than two times in any twelve month period (a “Navigation Demand Notice”), the
Company will facilitate in the manner described in this Agreement a non-shelf registered offering of the Registrable Securities requested by Blackstone or Navigation, as the case may be, to be included in such
offering. In order to be valid, the Blackstone Demand Notice or Navigation Demand Notice must provide the information described in Section 3.1 hereof (if applicable) and Section 4.5 hereof or be
followed by such information, when requested as contemplated by Section 4.5 hereof. 

 (b) Any demanded non-shelf
registered offering may, at the Company’s option, include Shares to be sold by the Company for its own account and will also, other than in connection with the Company’s IPO, include Registrable Securities to be sold by Securityholders
that exercise their related piggyback rights pursuant to Section 2.2 hereof and any other Registrable Securities to be sold by the holders of registration rights granted other than pursuant to this Agreement exercising such
rights, in each case, to the extent exercising such rights on a timely basis. 
 (c) Without limiting any other obligations
of the Company hereunder, as soon as reasonably practicable, but in no event later than 60 days after receiving a valid Blackstone Demand Notice or Navigation Demand Notice satisfying the criteria set forth in
Section 2.1(a) hereof, the Company shall file with the SEC a registration statement covering all of the Registrable Securities covered by such Blackstone Demand Notice or Navigation Demand Notice, as the case may be, as
well as any other Registrable Securities as to which registration is properly requested in accordance with Section 2.2 hereof (which other Registrable Securities may be included by means of a
pre-effective amendment) and any other registrable securities properly requested in accordance with other registration rights agreements with the Company, but subject in each case to any cutbacks imposed in
accordance with Section 3.5 hereof and the limitations set forth in Section 2.6 hereof. 

2.2 Right to Piggyback on a Non-Shelf Registered Offering. After the Company’s IPO, in
connection with any registered offering of Shares covered by a non-shelf registration statement (whether pursuant to the exercise of demand rights or at the initiative of the Company), the Securityholders may
exercise piggyback rights to have included in such offering Registrable Securities held by them, subject in each case to any cutbacks imposed in accordance with Section 3.5 hereof and the limitations set forth in
Section 2.6 hereof. The Company will facilitate in the manner described in this Agreement any such non-shelf registered offering. 

2.3 Right to Demand and be Included in a Shelf Registration. Upon the demand of Blackstone or Navigation, as the case may be, made at
any time and from time to time (subject to Sections 2.1(a) and 2.6(c) hereof) when the Company is eligible to utilize Form S-3 or a successor form to sell Shares in a secondary offering on a delayed or
continuous basis in accordance with Rule 415 under the Securities Act, the Company will facilitate in the manner described in this Agreement a shelf registration of Registrable Securities held by the Securityholders. Any shelf registration filed
pursuant to this Section 2.3 by the Company covering Shares (whether pursuant to a demand by Blackstone, Navigation, or at the initiative of the Company) will cover Registrable Securities held by each of the Securityholders
(regardless of whether they demanded the filing of such shelf or not) equal to the percentage of their original respective holdings as is requested by Blackstone or Navigation with respect to the Registrable Securities of Blackstone or Navigation,
as the case may be, to be included in such shelf. If at the time of such request the Company is a WKSI, such shelf registration shall, upon the approval of the board of directors of the Company, cover an unspecified number of Shares to be sold by
the Company and its Securityholders. 

 2.4 Demand and Piggyback Rights for Shelf Takedowns. Upon the demand of Blackstone or
Navigation, made at any time and from time to time (subject to Sections 2.1(a) and 2.6(c) hereof), the Company will facilitate in the manner described in this Agreement a “takedown” of Registrable Securities off of an effective shelf
registration statement. In connection with any underwritten shelf takedown (whether pursuant to the exercise of such demand rights by Blackstone or Navigation or at the initiative of the Company), the Securityholders may exercise piggyback rights to
have included in such takedown Registrable Securities held by them that are registered on such shelf. 
 2.5 Right to Reload a Shelf.
Upon the approval of the board of directors of the Company, if the Company is not eligible to file an automatically effective shelf registration statement filed by a WKSI, the Company will file and seek the effectiveness of a post-effective
amendment to an existing shelf that was not filed as an automatically effective shelf registration filed by a WKSI in order to register up to the number of Registrable Securities previously taken down off of such shelf by all Securityholders and not
yet “reloaded” onto such shelf. The board of directors of the Company (or certain designated members thereof) will consult and coordinate with Blackstone or Navigation, as the case may be, in order to accomplish such replenishments from
time to time in a sensible manner. 
 2.6 Limitations on Demand and Piggyback Rights. 

(a) Any demand for the filing of a registration statement or for a registered offering or takedown, and the exercise of any
piggyback registration rights, will be subject to the constraints of any applicable lockup arrangements, and any such demand must be deferred until such lockup arrangements no longer apply. If a demand has been made for a non-shelf registered offering or for an underwritten takedown, no further demands may be made so long as the related offering is still being pursued. Notwithstanding anything in this Agreement to the contrary, the
Securityholders will not have piggyback or other registration rights with respect to the following registered primary offerings by the Company: (i) a registration relating solely to employee benefit plans; (ii) a registration on Form S-4 or S-8 (or other similar successor forms then in effect under the Securities Act); (iii) a registration pursuant to which the Company is offering to exchange its own
Securities for other Securities; (iv) a registration statement relating solely to dividend reinvestment or similar plans; (v) a shelf registration statement pursuant to which only the initial purchasers and subsequent transferees of debt
securities of the Company or any Subsidiary that are convertible for Interests or Common Stock and that are initially issued pursuant to Rule 144A and/or Regulation S of the Securities Act may resell such notes and sell the common equity into which
such notes may be converted or (vi) a registration where the Registrable Securities are not being sold for cash. 
 (b)
The Company may postpone the filing of a demanded registration statement or suspend the effectiveness of any shelf registration statement for a reasonable “blackout period” not in excess of 90 days if the board of directors of the Company
determines in good faith that such registration or offering could materially interfere with a bona fide business, acquisition or divestiture or financing transaction of the Company or is reasonably likely to require premature disclosure of
information, the premature disclosure of which could materially and adversely affect the Company; provided that the Company shall not delay the filing of any demanded registration statement more than once in any
12-month period. The 

 
blackout period will end upon the earlier to occur of, (i) in the case of a bona fide business, acquisition or divestiture or financing transaction, a date not later than 90 days from
the date such deferral commenced, and (ii) in the case of disclosure of non-public information, the earlier to occur of (x) the filing by the Company of its next succeeding Form 10-K or Form 10-Q, or (y) the date upon which such information is otherwise disclosed. 

(c) Notwithstanding any provision herein, from and after the time that the Navigation Holders cease to own at least five
(5) percent of the then issued and outstanding Class A Common Stock together with the number of shares of Class A Common Stock issuable at such time upon the exchange of the then issued and outstanding membership interests of Exeter
Finance LLC pursuant to the LLC Agreement, the Navigation Holders will have no further demand rights pursuant to this Agreement. 

ARTICLE III 

NOTICES, CUTBACKS AND OTHER MATTERS 

3.1 Notifications Regarding Registration Statements. In order for Blackstone or Navigation to exercise their respective right to demand
that a registration statement be filed, it must include in the relevant Blackstone Demand Notice or Navigation Demand Notice, as the case may be, the number of Registrable Securities sought to be registered and the proposed plan of distribution.

 3.2 Notifications Regarding Registration Piggyback Rights. 

(a) In the event that the Company receives (i) any demand from Blackstone or Navigation pursuant to
Section 2.1 hereof, or (ii) if the Company files a registration statement with respect to a non-shelf registered offering, the Company will promptly give to each of the
Securityholders a written notice thereof no later than 5:00 p.m., New York City time, on the fifth Business Day following receipt by the Company of such demand or the filing of such registration statement, as applicable. Any Securityholder wishing
to exercise its piggyback rights with respect to any such non-shelf registration statement must notify the Company and the other Securityholders of the number of Registrable Securities it seeks to have
included in such registration statement in a written notice. Such notice must be given as soon as practicable, but in no event later than 5:00 p.m., New York City time, on the second Business Day prior to (i) if applicable, the date on which
the preliminary prospectus intended to be used in connection with pre-effective marketing efforts for the relevant offering is expected to be finalized, and (ii) in any case, the date on which the pricing
of the relevant offering is expected to occur. No such notice is required in connection with a shelf registration statement, as Registrable Securities held by all Securityholders will be included up to the applicable percentage. 

(b) Pending any required public disclosure and subject to applicable legal requirements, the parties will maintain appropriate
confidentiality of their discussions regarding a prospective non-shelf registration. 

 3.3 Notifications Regarding Demanded Underwritten Takedowns. 

(a) The Company will keep the Securityholders reasonably apprised of all pertinent aspects of any underwritten shelf takedown
demanded by Blackstone or Navigation in order that Securityholders may have a reasonable opportunity to exercise their related piggyback rights. Without limiting the Company’s obligation as described in the preceding sentence, having a
reasonable opportunity requires that the Securityholders be notified by the Company of an anticipated underwritten takedown (whether pursuant to a demand made by Blackstone or Navigation or made at the Company’s own initiative) no later than
5:00 p.m., New York City time, on (i) if applicable, the second Business Day prior to the date on which the preliminary prospectus or prospectus supplement intended to be used in connection with
pre-pricing marketing efforts for such takedown is finalized, and (ii) in all cases, the second Business Day prior to the date on which the pricing of the relevant takedown occurs. 

(b) Any Securityholder wishing to exercise its piggyback rights with respect to an underwritten shelf takedown must notify the
Company and the other Securityholders of the number of Registrable Securities it seeks to have included in such takedown. Such notice must be given as soon as practicable, but in no event later than 5:00 p.m., New York City time, on (i) if
applicable, the Business Day prior to the date on which the preliminary prospectus or prospectus supplement intended to be used in connection with marketing efforts for the relevant offering is expected to be finalized, and (ii) in all cases,
the Business Day prior to the date on which the pricing of the relevant takedown occurs. 
 (c) Pending any required public
disclosure and subject to applicable legal requirements, the parties will maintain appropriate confidentiality of their discussions regarding a prospective underwritten takedown. 

3.4 Plan of Distribution, Underwriters, Advisors and Counsel. If a majority of the Shares proposed to be sold in an underwritten
offering through a non-shelf registration statement or through a shelf takedown is being sold by the Company for its own account, the Company will be entitled to determine the plan of distribution and select
the managing underwriters and any provider of advisory services, which may include Affiliates of Blackstone, for such offering. Otherwise, Blackstone, if participating in such offering (or Securityholders holding a majority of the Shares requested
to be included if Blackstone is not participating in such offering), will be entitled to determine the plan of distribution and select the managing underwriters and any provider of advisory services, which may include Affiliates of Blackstone;
provided that such investment banker or bankers, managers and providers of advisory services shall be reasonably satisfactory to the Company whose approval shall not be unreasonably withheld, conditioned or delayed, and will also be entitled
to select counsel for the selling Securityholders (which may be the same as counsel for the Company). In the case of a shelf registration statement, the plan of distribution will provide as much flexibility as is reasonably possible, including with
respect to resales by transferee Securityholders. 
 3.5 Cutbacks. If the managing underwriters advise the Company and the selling
Securityholders that, in their opinion, the number of Registrable Securities requested to be included in an underwritten offering exceeds the amount that can be sold in such offering without adversely affecting the distribution of the Registrable
Securities being offered, the price that will be paid in such offering or the marketability thereof, such offering will include only the 

 
number of Registrable Securities that the underwriters advise can be sold in such offering. If the Company is selling securities for its own account in such offering and the offering is not being
made on account of a demand made by Blackstone or Navigation, as the case may be, pursuant to Section 2.1 hereof, the Company will have first priority. To the extent of any remaining capacity, and in all other cases, the
selling Securityholders (and any other Persons having registration rights pari passu with the Securityholders and participating in such offering) and the Company will be subject to cutback pro rata based on the number of Registrable
Securities initially requested by them to be included in such offering, without distinguishing between Securityholders (or other Persons exercising pari passu registration rights) based on who made the demand for such offering or otherwise.

 3.6 Withdrawals. Even if Registrable Securities held by a Securityholder have been part of a registered underwritten offering, such
Securityholder may, no later than the time at which the public offering price and underwriters’ discount are determined with the managing underwriter, decline to sell all or any portion of the Registrable Securities being offered for its
account. 
 3.7 Lockups. In connection with any underwritten offering of Shares, the Company and each Securityholder will agree (in
the case of Securityholders, with respect to Registrable Securities respectively held by them) to be bound by the underwriting agreement’s lockup restrictions (which must apply in like manner to all Securityholders); provided that in no
event shall any lock up restriction exceed a period of 180 days from the date of the final prospectus for any such offering. The Company shall cause its executive officers and directors (and managers, if applicable) and shall use commercially
reasonable efforts to cause other holders of Shares who beneficially own (within the meaning of Rules 13d-3 and 13d-5 under the Exchange Act as in effect on the date of
this Agreement) any of the Shares participating in such offering, to enter into lockup agreements that contain restrictions that are no less restrictive than the restrictions contained in the lockup agreements executed by the Securityholders. 

ARTICLE IV 

FACILITATING REGISTRATIONS AND OFFERINGS 

4.1 General. If the Company becomes obligated under this Agreement to facilitate a registration and offering of Registrable Securities
on behalf of Securityholders, the Company will do so with the same degree of care and dispatch as would reasonably be expected in the case of a registration and offering by the Company of Registrable Securities for its own account. Without limiting
this general obligation, the Company will fulfill its specific obligations as described in this Article IV. 
 4.2 Registration
Statements. In connection with each registration statement that is demanded by Blackstone or Navigation in accordance with this Agreement or as to which piggyback rights otherwise apply, the Company will: 

(a) (1) prepare and file with the SEC a registration statement on an appropriate form covering the applicable Registrable
Securities, (2) file amendments thereto as warranted, (3) seek the effectiveness thereof, and (4) file with the SEC prospectuses and prospectus supplements as may be required, all in consultation with Blackstone or Navigation, as the
case may be, and as reasonably necessary in order to permit the offer and sale of the such Registrable Securities in accordance with the applicable plan of distribution; 

 (b) (1) within a reasonable time prior to the filing of any
registration statement, any prospectus, any amendment to a registration statement, amendment or supplement to a prospectus or any free writing prospectus (in each case including all exhibits filed therewith), provide copies of such documents to the
selling Securityholders and to the underwriter or underwriters of an underwritten offering, if applicable, and to their respective counsel; fairly consider such reasonable changes in any such documents prior to or after the filing thereof as the
counsel to the Securityholders or the underwriter or the underwriters may request; and make such of the representatives of the Company as shall be reasonably requested by the selling Securityholders or any underwriter available for discussion of
such documents; and (2) within a reasonable time prior to the filing of any document which is to be incorporated or deemed incorporated by reference into a registration statement or a prospectus, provide copies of such document to counsel
for the Securityholders and underwriters; fairly consider such reasonable changes in such document prior to or after the filing thereof as counsel for such Securityholders or such underwriter shall request; and make such of the representatives of
the Company as shall be reasonably requested by such counsel available for discussion of such document; 
 (c) use all
reasonable efforts to cause each registration statement and the related prospectus and any amendment or supplement thereto, as of the effective date of such registration statement, amendment or supplement and during the distribution of the
registered Registrable Securities (x) to comply in all material respects with the requirements of the Securities Act (including the rules and regulations promulgated thereunder) and (y) not to contain any 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; 

(d) promptly notify each Securityholder, its respective counsel and the sole underwriter or managing underwriter, if any, and,
if requested by such Securityholder, confirm such notice in writing, (i) when any registration statement, any prospectus, any amendment to a registration statement, amendment or supplement to a prospectus or any free writing prospectus has been
filed, (ii) when a registration statement has become effective and when any post-effective amendments and supplements thereto become effective if such registration statement or post-effective amendment is not automatically effective upon filing
pursuant to Rule 462 under the Securities Act, (iii) of any request by the SEC or any other federal or state governmental authority for amendments or supplements to a registration statement or related prospectus or for additional information,
(iv) of the issuance by the SEC or any state securities authority of any stop order, injunction or other order or requirement suspending the effectiveness of a registration statement or the initiation of any proceedings for that purpose,
(v) if, between the effective date of a registration statement and the closing of any sale of securities covered thereby pursuant to any underwriting, placement or purchase agreement to which the Company is a party or, if earlier, the
expiration of any over-allotment option under any underwriting, placement or purchase agreement to which the Company is a party, the representations and warranties of the Company contained in such agreement cease to be true and correct in all
material respects or if the Company receives any notification with 

 
respect to the suspension of the qualification of the Registrable Securities for sale in any jurisdiction or the initiation of any proceeding for such purpose, and (vi) of the happening of
any event during the period a registration statement is effective as a result of which such registration statement or the related prospectus contains any untrue statement of a material fact or omits to state any material fact required to be stated
therein or necessary to make the statements therein not misleading; 
 (e) furnish counsel for each underwriter, if any, and
for the Securityholders copies of any correspondence with the SEC or any state securities authority relating to the registration statement or prospectus; 

(f) otherwise use all reasonable efforts to comply with all applicable rules and regulations of the SEC, including making
available to its security holders an earnings statement covering at least 12 months which shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder (or any similar provision then in force); and 

(g) use all reasonable efforts to obtain the withdrawal of any order suspending the effectiveness of a registration statement
at the earliest possible time. 
 4.3 Non-Shelf Registered Offerings and Shelf Takedowns. In
connection with any non-shelf registered offering or shelf takedown that is demanded by Blackstone or Navigation or as to which piggyback rights otherwise apply, the Company will: 

(a) cooperate with the selling Securityholders and the sole underwriter or managing underwriter of an underwritten offering, if
any, to facilitate the timely preparation and delivery of certificates representing the Registrable Securities to be sold and not bearing any restrictive legends; and enable such Registrable Securities to be in such denominations (consistent with
the provisions of the governing documents thereof) and registered in such names as the selling Securityholders or the sole underwriter or managing underwriter of an underwritten offering of Registrable Securities, if any, may reasonably request at
least five days prior to any sale of such Registrable Securities; 
 (b) furnish to each Securityholder and to each
underwriter, if any, participating in the relevant offering, without charge, as many copies of the applicable prospectus, including each preliminary prospectus, and any amendment or supplement thereto and such other documents as such Securityholder
or underwriter may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities; the Company hereby consents to the use of the prospectus, including each preliminary prospectus, by each such
Securityholder and underwriter in connection with the offering and sale of the Registrable Securities covered by the prospectus or the preliminary prospectus; 

(c) (1) use all reasonable efforts to register or qualify the Registrable Securities being offered and sold, no later than
the time the applicable registration statement becomes effective, under all applicable state securities or blue sky laws of such jurisdictions as each underwriter, if any, or any Securityholder holding Registrable Securities covered by a
registration statement, shall reasonably request; (2) use all reasonable efforts to keep each such registration or qualification effective during the period such registration statement is required

 
to be kept effective; and (3) do any and all other acts and things which may be reasonably necessary or advisable to enable each such underwriter, if any, and Securityholder to
consummate the disposition in each such jurisdiction of such Registrable Securities owned by such Securityholder; provided, however, that the Company shall not be obligated to qualify as a foreign corporation or as a dealer in
securities in any jurisdiction in which it is not so qualified or to consent to be subject to general service of process (other than service of process in connection with such registration or qualification or any sale of Registrable Securities in
connection therewith) in any such jurisdiction; 
 (d) cause all Registrable Securities being sold to be qualified for
inclusion in or listed on any Recognized Exchange on which Registrable Securities issued by the Company are then so qualified or listed if so requested by the Securityholders, or if so requested by the underwriter or underwriters of an underwritten
offering of Registrable Securities, if any; 
 (e) cooperate and assist in any filings required to be made with FINRA and in
the performance of any due diligence investigation by any underwriter in an underwritten offering; 
 (f) use all reasonable
efforts to facilitate the distribution and sale of any Registrable Securities to be offered pursuant to this Agreement, including without limitation by making “road show” presentations, holding meetings with and making calls to potential
investors and taking such other actions as shall be requested by the Securityholders or the lead managing underwriter of an underwritten offering; 

(g) in the case of an offering that includes a provider of capital markets advisory services, enter into and perform its
obligations under customary agreements (including an advisory services agreement and an indemnification agreement in customary form); and 

(h) enter into customary agreements (including, in the case of an underwritten offering, underwriting agreements in customary
form, and including provisions with respect to indemnification and contribution in customary form and consistent with the provisions relating to indemnification and contribution contained herein) and take all other customary and appropriate actions
in order to expedite or facilitate the disposition of such Registrable Securities and in connection therewith: 
 (1) make such
representations and warranties to the selling Securityholders and the underwriters, if any, in form, substance and scope as are customarily made by issuers to underwriters in similar underwritten offerings; 

(2) obtain opinions of counsel to the Company and updates thereof (which counsel and opinions (in form, scope and substance) shall be
reasonably satisfactory to the lead managing underwriter, if any) addressed to the underwriters, if any, (and, if so requested, to each selling Securityholder) covering the matters customarily covered in opinions requested in sales of securities or
underwritten offerings and such other matters as may be reasonably requested by such Securityholders and any underwriters; 

 (3) obtain “cold comfort” letters and updates thereof from the Company’s
independent certified public accountants addressed to the underwriters, if any, (and, if so requested and if permissible, to each selling Securityholder) which letters shall be customary in form and shall cover matters of the type customarily
covered in “cold comfort” letters to underwriters in connection with primary underwritten offerings; and 
 (4) to the extent
requested and customary for the relevant transaction, enter into a Securities sales agreement with the Securityholders providing for, among other things, the appointment of such representative as agent for the selling Securityholders for the purpose
of soliciting purchases of Registrable Securities, which agreement shall be customary in form, substance and scope and shall contain customary representations, warranties and covenants; and 

(5) deliver such documents and certificates as the sole underwriter or managing underwriter, if any, any selling Securityholder, or their
respective counsel, shall reasonably request to evidence the continued validity of the representations and warranties made in accordance with Section 4.3(h)(1) above to evidence compliance with any customary conditions
contained in the underwriting agreement or other agreement entered into by the Company. 
 The above shall be done at such times as customarily occur in
similar registered offerings or shelf takedowns. 
 4.4 Due Diligence. In connection with each registration and offering of
Registrable Securities to be sold by Securityholders, the Company will, in accordance with customary practice, make available for inspection by representatives of the Securityholders and underwriters and any counsel or accountant retained by such
Securityholders or underwriters all relevant financial and other records, pertinent corporate documents and properties of the Company and cause appropriate officers, managers, employees, outside counsel and accountants of the Company to supply all
information reasonably requested by any such representative, underwriter, counsel or accountant in connection with their due diligence exercise, including through in-person meetings, but subject to customary
privilege constraints. 
 4.5 Information from Securityholders. Each Securityholder that holds Registrable Securities covered by any
registration statement will furnish to the Company such information regarding itself as is required to be included in the registration statement or is otherwise required by FINRA or the SEC in connection with such registration statement, the
ownership of Registrable Securities by such Securityholder and the proposed distribution by such Securityholder of such Registrable Securities as the Company may from time to time reasonably request in writing. 

 4.6 Expenses. All Registration Expenses incurred in connection with any registration
statement or registered offering covering Registrable Securities held by the Securityholders will be borne by the Company. However, underwriters’, brokers’ and dealers’ discounts and commissions applicable to Registrable Securities
sold for the account of a Securityholder will be borne by such Securityholder. 
 ARTICLE V 

INDEMNIFICATION 

5.1 Indemnification by the Company. In the event of any registration under the Securities Act by any registration statement pursuant to
rights granted in this Agreement of Registrable Securities held by Securityholders, the Company will indemnify and hold harmless Securityholders, their officers, directors and affiliates (and the officers, directors, employees, general and limited
partners, Affiliates and controlling persons of any of the foregoing), and each underwriter of such securities and each other Person, if any, who Controls any Securityholder or such underwriter within the meaning of the Securities Act, against any
losses, claims, damages, or liabilities (including legal fees and costs of court), joint or several, to which Securityholders or such underwriter or controlling Person may become subject under the Securities Act or otherwise, including any amount
paid in settlement of any litigation commenced or threatened, and shall promptly reimburse such Persons, as and when incurred, for any legal or other expenses reasonably incurred by them in connection with investigating any claims and defending any
actions, insofar as such losses, claims, damages, or liabilities (or any actions in respect thereof) arise out of or are based upon any violation or alleged violation by the Company of the Securities Act, any blue sky laws, securities laws or other
applicable laws or rules of any state or country in which such Shares are offered and relating to action taken or action or inaction required of the Company in connection with such offering, or arise out of or are based upon any untrue statement or
alleged untrue statement of any material fact (i) contained in any registration statement (or in any preliminary or final prospectus included therein) under which such securities were registered under the Securities Act or any amendment or
supplement to any of the foregoing, or in any document incorporated by reference therein or related document or report, or any issuer free writing prospectus (including any “road show,” whether or not required to be filed with the SEC), or
that arise out of or are based upon the omission or alleged omission to state a material fact required to be stated therein or necessary to make the statements therein not misleading or (ii) contained in any preliminary prospectus, if used
prior to the effective date of such registration statement, or in the final prospectus (as amended or supplemented if the Company shall have filed with the SEC any amendment or supplement to the final prospectus), or which arise out of or are based
upon the omission or alleged omission to state a material fact required to be stated in such prospectus or necessary to make the statements in such prospectus not misleading; and will reimburse Securityholders and each such underwriter and each such
controlling Person for any legal or any other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, or liability; provided, however, that the Company shall not be liable to any
Securityholder or its underwriters or controlling Persons in any such case to the extent that any such loss, claim, damage, or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission
made in such registration statement or such amendment or supplement or other document, in reliance upon and in conformity with information furnished to the Company through a written instrument duly executed by Securityholders or such underwriter
specifically for use in the preparation thereof. 

 5.2 Indemnification by Securityholders. Each Securityholder as a condition to
including Registrable Securities in such registration statement will indemnify and hold harmless (in the same manner and to the same extent as set forth in Section 5.1 hereof) the Company, each director of the Company, each
officer of the Company who shall sign the registration statement, and any Person who Controls the Company within the meaning of the Securities Act, (i) with respect to any untrue statement or alleged untrue statement in or omission or alleged
omission from such registration statement, or any amendment or supplement to it, or any issuer free writing prospectus or other document, to the extent, but only to the extent, that such untrue statement or omission was made in reliance upon and in
conformity with information furnished to the Company through a written instrument duly executed by such Securityholder specifically regarding such Securityholder for use in the preparation of such registration statement or amendment or supplement,
and (ii) with respect to compliance by such Securityholder with applicable laws in effecting the sale or other disposition of the securities covered by such registration statement; provided, that the liability of each Securityholder
pursuant to this Section 5.2 shall not exceed the amount by which the total price at which the Shares were offered to the public by such Securityholder exceeds the amount of any damages which such Securityholder has
otherwise been required to pay by reason of an untrue statement or omission. 
 5.3 Indemnification Procedures. Promptly after
receipt by an indemnified party of notice of the commencement of any action involving a claim referred to in Section 5.1 and Section 5.2 hereof, the indemnified party will, if a claim in respect
thereof is to be made or may be made against an indemnifying party, give written notice to such indemnifying party of the commencement of the action. The failure of any indemnified party to give notice shall not relieve the indemnifying party of its
obligations in this Article V, except to the extent that the indemnifying party is actually and materially prejudiced by the failure to give notice. If any such action is brought against an indemnified party, the indemnifying party will be
entitled to participate in and to assume the defense of the action with counsel reasonably satisfactory to the indemnified party, and after notice from the indemnifying party to such indemnified party of its election to assume defense of the action,
the indemnifying party will not be liable to such indemnified party for any legal or other expenses incurred by the latter in connection with the action’s defense other than reasonable costs of investigation. An indemnified party shall have the
right to employ separate counsel in any action or proceeding and participate in the defense thereof, but the fees and expenses of such counsel shall be at such indemnified party’s expense unless (i) the employment of such counsel has been
specifically authorized in writing by the indemnifying party, which authorization shall not be unreasonably withheld, (ii) the indemnifying party has not assumed the defense and employed counsel reasonably satisfactory to the indemnified party
within thirty (30) days after notice of any such action or proceeding, or (iii) the named parties to any such action or proceeding (including any impleaded parties) include the indemnified party and the indemnifying party and the
indemnified party shall have been advised by such counsel that there may be one or more legal defenses available to the indemnified party that are different from or additional to those available to the indemnifying party (in which case the
indemnifying party shall not have the right to assume the defense of such action or proceeding on behalf of the indemnified party), it being understood, however, that the indemnifying party shall not, 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 more than one separate firm of attorneys (in addition to
all local counsel which is necessary, in the good faith 

 
opinion of both counsel for the indemnifying party and counsel for the indemnified party in order to adequately represent the indemnified parties) for the indemnified party and that all such fees
and expenses shall be reimbursed as they are incurred upon written request and presentation of invoices. Whether or not a defense is assumed by the indemnifying party, the indemnifying party will not be subject to any liability for any settlement
made without its consent (not to be unreasonably withheld). No indemnifying party will consent to entry of any judgment or enter into any settlement which (i) does not include as an unconditional term the giving by the claimant or plaintiff, to
the indemnified party, of a release from all liability in respect of such claim or litigation or (ii) involves the imposition of equitable remedies or the imposition of any non-financial obligations on
the indemnified party. 
 5.4 Contribution. If the indemnification required by this Article V from the indemnifying party
is unavailable to or insufficient to hold harmless an indemnified party in respect of any indemnifiable losses, claims, damages, liabilities, or expenses, then the indemnifying party shall contribute to the amount paid or payable by the indemnified
party as a result of such losses, claims, damages, liabilities, or expenses in such proportion as is appropriate to reflect (i) the relative benefit of the indemnifying and indemnified parties and (ii) if the allocation in clause
(i) is not permitted by applicable law, in such proportion as is appropriate to reflect the relative benefit referred to in clause (i) and also the relative fault of the indemnified and indemnifying parties, in connection with the actions
which resulted in such losses, claims, damages, liabilities, or expenses, as well as any other relevant equitable considerations. The relative benefits received by a party shall be deemed to be in the same proportion as the total net proceeds from
the offering (before deducting expenses) received by it bear to the total amounts (including, in the case of any underwriter, any underwriting commissions and discounts) received by each other party. The relative fault of the indemnifying party and
the indemnified party shall be determined by reference to, among other things, whether any action in question, including any untrue or alleged untrue statement of a material fact or alleged omission to state a material fact, has been made by, or
relates to information supplied by, such indemnifying party or parties, and the parties’ relative intent, knowledge, access to information, and opportunity to correct or prevent such action. The amount paid or payable by a party as a result of
the losses, claims, damage, liabilities, and expenses referred to above shall be deemed to include any legal or other fees or expenses reasonably incurred by such party in connection with any investigation or proceeding. The Company and
Securityholders agree that it would not be just and equitable if contribution pursuant to this Section 5.4 were determined by pro rata allocation or by any other method of allocation which does not take account of
the equitable considerations referred to in the prior provisions of this Section 5.4. 
 Notwithstanding the
provisions of this Section 5.4, no indemnifying party shall be required to contribute any amount in excess of the amount by which the total price at which the securities were offered to the public by such indemnifying
party exceeds the amount of any damages which such indemnifying party has otherwise been required to pay by reason of an untrue statement or omission. 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 a fraudulent misrepresentation. 

 ARTICLE VI 

OTHER AGREEMENTS 

6.1 Assignment. Neither the Company nor any Securityholder shall assign all or any part of this Agreement without the prior written
consent of the Company and Blackstone; provided, however, that without the prior written consent of the Company, Blackstone and the Navigation Holders may assign their rights and obligations under this Agreement in whole or in part to
(x) any of their Affiliates and/or (y) any Person who becomes a holder of Registrable Securities upon a distribution by Blackstone or the Navigation Holders of shares of Class A Common Stock or LLC Units to its members, limited
partners or stockholders that becomes a party hereto by executing and delivering an assignment and joinder agreement to the Company, substantially in the form of Exhibit A to this Agreement. Except as otherwise provided herein, this Agreement will
inure to the benefit of and be binding on the parties hereto and their respective successors and permitted assigns. If the Class A Common Stock shall be exchanged or replaced by Securities of another Person, the Company shall use reasonable
best efforts to cause such Person to expressly assume all of the Company’s obligations hereunder, to the extent applicable. 
 6.2
Merger or Consolidation. In the event the Company engages in a merger or consolidation in which the Registrable Securities are converted into securities of another company, appropriate arrangements will be made so that the registration
rights provided under this Agreement continue to be provided to Securityholders by the issuer of such securities. To the extent such new issuer, or any other company acquired by the Company in a merger or consolidation, was bound by registration
rights obligations that would conflict with the provisions of this Agreement, the Company will, unless Securityholders then holding at least 90% of the Registrable Securities otherwise agree, use its commercially reasonable efforts to modify any
such “inherited” registration rights obligations so as not to interfere in any material respects with the rights provided under this Agreement. To the extent any such modification of “inherited” registration rights
disproportionately and adversely impacts any Securityholder hereunder, such modification shall not be effective as to such Securityholder without the consent of such Securityholder. 

(a) In addition, in the event that the Company effects the separation of any portion of its business into one or more entities
(each, a “NewCo”), whether existing or newly formed, including without limitation by way of spin-off, split-off,
carve-out, demerger, recapitalization, reorganization or similar transaction, and any Securityholder will receive equity interests in any such NewCo as part of such separation, the Company shall cause any such
NewCo to enter into a registration rights agreement with each such Securityholder that provides each such Securityholder with registration rights vis-à-vis such
NewCo that are substantially identical to those set forth in this Agreement. 
 6.3 Limited Liability. Notwithstanding any other
provision of this Agreement, neither the members, general partners, limited partners or managing directors, or any directors or officers of any members, general or limited partner, advisory director, nor any future members, general partners, limited
partners, advisory directors, or managing directors, if any, of any Securityholder shall have any personal liability for performance of any obligation of such Securityholder under this Agreement in excess of the respective capital contributions of
such members, general partners, limited partners, advisory directors or managing directors to such Securityholder. 

 6.4 Rule 144. If the Company is subject to the requirements of Section 13,
14 or 15(d) of the Exchange Act, the Company covenants that it will file any reports required to be filed by it under the Securities Act and the Exchange Act (or, if the Company is subject to the requirements of Section 13, 14 or 15(d) of the
Exchange Act but is not required to file such reports, it will, upon the request of any Securityholder, make publicly available such information) and it will take such further action as any Securityholder may reasonably request, so as to enable such
Securityholder to sell Registrable Securities without registration under the Securities Act within the limitation of the exemptions provided by (a) Rule 144 under the Securities Act, as such Rule may be amended from time to time, or
(b) any similar rule or regulation hereafter adopted by the SEC. Upon the request of any Securityholder, the Company will deliver to such Securityholder a written statement as to whether it has complied with such requirements. For the avoidance
of doubt, this Section 6.4 shall not in any way limit or otherwise modify any applicable restrictions on transfer set forth in the Company’s Certificate of Incorporation as may be amended from time to time or the LLC
Agreement. 
 6.5 In-Kind Distributions. If any Securityholder seeks to effectuate an in-kind distribution of all or part of its Registrable Securities to its direct or indirect equityholders, the Company will, subject to applicable lockups, work with such Securityholder and the Company’s
transfer agent to facilitate such in-kind distribution in the manner reasonably requested by such Securityholder, as well as any resales by such transferees under a shelf registration statement covering such
distributed shares. 
 ARTICLE VII 

MISCELLANEOUS 
 7.1
Notices. All notices, requests, demands and other communications required or permitted hereunder shall be made in writing by hand-delivery, registered first-class mail, telex, email, fax or air courier guaranteeing delivery to the
Persons at the respective addresses set forth below or pursuant to such other instructions as may be designated in writing by the party to receive such notice. 

(a) If to the Company, to: 

Exeter Finance Corporation 
 222
W. Las Colinas Blvd., Suite 1800 
 Irving, Texas 75039 

Attention: Executive Vice President, General Counsel & Secretary 

Email: Walter.Evans@exeterfinance.com 

 with a copy (not constituting notice) to: 

Skadden, Arps, Slate, Meagher & Flom LLP 

Four Times Square 
 New York,
New York 10036 
 Attention: Laura Kaufmann Belkhayat 

Email: Laura.Kaufmann@skadden.com 

(b) If to Blackstone, to: 
 The
Blackstone Group L.P. 
 345 Park Avenue 

New York, New York 10154 

Attention: Kelly Wannop 
 Email:
Kelly.Wannop@Blackstone.com 
 with a copy (not constituting notice) to: 

Skadden, Arps, Slate, Meagher & Flom LLP 

Four Times Square 
 New York,
New York 10036 
 Attention: Laura Kaufmann Belkhayat 

Email: Laura.Kaufmann@skadden.com 

(c) If to the Navigation Holders, to: 

Navigation Capital Partners 

1175 Peach Street NE 
 Atlanta,
GA 30361 
 Attention: [•] 

with a copy (not constituting notice) to: 

DLA Piper LLP (US) 
 One
Atlantic Center 
 1201 West Peachtree Street, Suite 2800 

Atlanta, GA 30309-3450 

Attention: Daniel P. Rollman 
 Any such notice,
request, demand or other communication shall be deemed to have been duly given (a) on the date of delivery if delivered personally or by facsimile or electronic transmission, (b) on the first Business Day after being sent if delivered by
nationally recognized overnight delivery service and (c) upon the earlier of actual receipt thereof or five Business Days after the date of deposit in the United States mail if delivered by mail. 

7.2 Section Headings. The article and section headings in this Agreement are for reference purposes only and shall not affect the
meaning or interpretation of this Agreement. References in this Agreement to a designated “Article” or “Section” refer to an Article or Section of this Agreement unless otherwise specifically indicated. 

 7.3 Governing Law. This Agreement shall be governed by, and construed and enforced in
accordance with, the laws of the State of New York. 
 7.4 Consent to Jurisdiction and Service of Process; Waiver of Jury Trial. 

(a) The parties to this Agreement hereby agree to submit to the jurisdiction of the courts of the State of New York, the courts
of the United States of America for the Southern District of New York, and appellate courts from any thereof in any action or proceeding arising out of or relating to this Agreement. 

(b) EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT
OF OR RELATED TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. 
 7.5 Amendments. 

(a) This Agreement may be amended only by an instrument in writing executed by the Company and Securityholders holding at least
a majority of the Registrable Securities collectively held by them; provided that any amendment that would adversely impact the rights hereunder of Blackstone or the Navigation Holders shall require the prior written consent of Blackstone or
the Navigation Holders holding a majority of the Registrable Securities collectively held by them, as applicable; provided, further, that any amendment that would disproportionately and adversely impact (i) the rights hereunder of
the Securityholders party hereto other than Blackstone without similarly affecting the rights hereunder of Blackstone (other than the granting of demand or piggyback rights to any new party to become a Securityholder hereunder and rights incidental
thereto) shall require the prior approval of a such Securityholders other than Blackstone holding a majority of the Registrable Securities held by such Securities, (ii) the rights hereunder of any Securityholder other than Blackstone without
similarly affecting the rights hereunder of all other Securityholders other than Blackstone shall require the prior written consent of such Securityholder. This Agreement will terminate as to any Securityholder when it no longer holds any
Registrable Securities. 
 (b) Notwithstanding anything in Section 7.5(a) hereof to the contrary,
if the Company at any time after the date of this Agreement grants to any other holders of its securities (other than any new Blackstone Holders becoming party hereto after the date hereof) any rights to request or cause the Company to effect the
registration under the Securities Act or offering or sale of any such securities on any terms materially more favorable to such holders than the terms set forth in this Agreement, the terms of this Agreement shall, upon the request of Blackstone, be
deemed amended or supplemented to the extent necessary to provide Blackstone such more favorable rights and benefits, and, at the election and sole discretion of Blackstone (as evidenced by a written notice to the Company), shall be deemed amended
or supplemented to the extent necessary to provide to the Securityholders party hereto other than Blackstone those more favorable rights and benefits as selected by Blackstone to be provided to such other Securityholders and set forth in such
written notice. 

 7.6 Entire Agreement. This Agreement contains the entire understanding of the
parties with respect to the subject matter hereof. The registration rights granted under this Agreement supersede any registration, qualification or similar rights with respect to any of the Registrable Securities granted under any other agreement,
and any of such preexisting registration rights are hereby terminated. 
 7.7 Severability. The invalidity or unenforceability of
any specific provision of this Agreement shall not invalidate or render unenforceable any of its other provisions. Any provision of this Agreement held invalid or unenforceable shall be deemed reformed, if practicable, to the extent necessary to
render it valid and enforceable and to the extent permitted by law and consistent with the intent of the parties to this Agreement. 
 7.8
Counterparts. This Agreement may be executed in multiple counterparts, including by means of facsimile, each of which shall be deemed an original, but all of which together shall constitute the same instrument. 

7.9 Additional Holders. Notwithstanding anything herein to the contrary, the Company may from time to time add additional holders
of Registrable Securities of the Company as parties to this Agreement with the consent of Blackstone and without the consent or additional signatures of any other holders of Registrable Securities hereunder. In order to become a party to this
Agreement, such additional party must execute a signature page evidencing such party’s agreement to be bound hereby as a Securityholder (but not Blackstone, unless Blackstone consents in writing thereto), and upon the Company’s receipt of
any such additional holder’s executed signature page hereto, such additional holder shall be deemed to be a party hereto and such additional signature pages shall be a part of this Agreement. 

7.10 Equitable Remedies. The parties hereto agree that irreparable harm would occur in the event that any of the agreements and
provisions of this Agreement were not performed fully by the parties hereto in accordance with their specific terms or conditions or were otherwise breached, and that money damages are an inadequate remedy for breach of this Agreement because of the
difficulty of ascertaining and quantifying the amount of damage that will be suffered by the parties hereto in the event that this Agreement is not performed in accordance with its terms or conditions or is otherwise breached. It is accordingly
hereby agreed that the parties hereto shall be entitled to an injunction or injunctions to restrain, enjoin and prevent breaches of this Agreement by the other parties and to enforce specifically the terms and provisions hereof in any court of the
United States or any state having jurisdiction, such remedy being in addition to and not in lieu of, any other rights and remedies to which the other parties are entitled to at law or in equity. 

7.11 No Inconsistent Agreements. From and after the date of this Agreement, the Company shall not enter into any agreement with any
person, including any holder or prospective holder of any securities of the Company, giving or granting any registration (or related) rights the terms of which are more favorable than, senior to or conflict with, the registration or other rights
granted to the Blackstone Holders or the Navigation Holders hereunder. 
 [Remainder of page intentionally left blank] 

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

			
	COMPANY:
	
	EXETER FINANCE CORPORATION
		
	By:	 	
                     

		 	Name:
		 	Title:
	
	BLACKSTONE HOLDERS:
	
	[SIGNATURE BLOCKS TO COME]
		
	By:	 	  

		 	Name:
		 	Title:
	
	NAVIGATION HOLDERS:
	
	[SIGNATURE BLOCKS TO COME]
		
	By:	 	  

		 	Name:
		 	Title:
	
	OTHER SECURITYHOLDERS:
	
	[SIGNATURE BLOCKS TO COME]
		
	By:	 	  

		 	Name:
		 	Title:

 Exhibit A 

FORM OF ASSIGNMENT AND JOINDER 

            , 20     

Reference is made to the Registration Rights Agreement (the “Registration Rights Agreement”), dated as of
                 2019, by and among Exeter Finance Corporation (the “Company”), the Blackstone Holders (as defined therein) and the Navigation
Holders (as defined therein). Capitalized terms used but not otherwise defined herein shall have the meanings ascribed to such terms in the Registration Rights Agreement. 

Pursuant to Section 6.1 of the Registration Rights Agreement,
                 (the “Assignor”) hereby assigns [in part][or: in full] its rights and obligations under the Registration Rights Agreement
to each of                 ,                  and
                 (each, an “Assignee” and collectively, the “Assignees”). [For the avoidance of doubt, the Assignor will
remain a party to the Registration Rights Agreement following the assignment in part of its rights and obligations thereunder to the undersigned Assignees.] 

Each undersigned Assignee hereby agrees to and does become party to the Registration Rights Agreement as a Blackstone Holder and
Securityholder. This assignment and joinder shall serve as a counterpart signature page to the Registration Rights Agreement and by executing below each undersigned Assignee is deemed to have executed the Registration Rights Agreement with the same
force and effect as if originally named a party thereto and each Assignee’s shares of Class A Common Stock shall be included as Registrable Securities under the Registration Rights Agreement. 

[Remainder of Page Intentionally Left Blank.] 

 IN WITNESS WHEREOF, the undersigned have duly executed this assignment and joinder as of date first set
forth above. 
  

			
	ASSIGNOR:
		
	By:	 	  

		 	Name:
		 	Title:
	
	ASSIGNEE(S):
		
	By:	 	  

		 	Name:
		 	Title:

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