Document:

Deposit Agreement, dated as of April 24, 2017

 Exhibit 4.2 
  

 
  

DEPOSIT AGREEMENT 
 among 

Wells Fargo & Company, 

as the Company 
 Wells Fargo Bank,
N.A. 
 as Depositary, 
 and 

THE HOLDERS FROM TIME TO TIME OF 

THE DEPOSITARY RECEIPTS DESCRIBED HEREIN 

Dated as of April 24, 2017 

Relating to the Non-Cumulative Perpetual Class A 

Preferred Stock, Series Y, of the Company 
  

 
  

 TABLE OF CONTENTS 

Page 
  

							
	ARTICLE I	 
	
	DEFINED TERMS	 
			
	 Section 1.1.
	  	 Definitions.
	  	 	1	 
	
	ARTICLE II	 
	
	 FORM OF RECEIPTS, DEPOSIT
OF SERIES Y PREFERRED STOCK, EXECUTION AND DELIVERY,

TRANSFER, SURRENDER AND REDEMPTION OF
RECEIPTS
	
 

  

			
	 Section 2.1.
	  	 Form and Transfer of Receipts.
	  	 	3	 
			
	 Section 2.2.
	  	 Deposit of Series Y Preferred Stock; Execution and Delivery of Receipts in Respect Thereof.
	  	 	4	 
			
	 Section 2.3.
	  	 Registration of Transfer of Receipts.
	  	 	5	 
			
	 Section 2.4.
	  	 Split-ups and Combinations of Receipts; Surrender of Receipts and Withdrawal of Series Y Preferred Stock.
	  	 	5	 
			
	 Section 2.5.
	  	 Limitations on Execution and Delivery, Transfer, Surrender and Exchange of Receipts.
	  	 	6	 
			
	 Section 2.6.
	  	 Lost Receipts, etc.
	  	 	6	 
			
	 Section 2.7.
	  	 Cancellation and Destruction of Surrendered Receipts.
	  	 	7	 
			
	 Section 2.8.
	  	 Redemption of Series Y Preferred Stock.
	  	 	7	 
			
	 Section 2.9.
	  	 Receipts Issuable in Global Registered Form.
	  	 	8	 
	
	ARTICLE III	 
	
	CERTAIN OBLIGATIONS OF HOLDERS OF RECEIPTS AND THE COMPANY	 
			
	 Section 3.1.
	  	 Filing Proofs, Certificates and Other Information.
	  	 	9	 
			
	 Section 3.2.
	  	 Payment of Taxes or Other Governmental Charges.
	  	 	10	 
			
	 Section 3.3.
	  	 Warranty as to Series Y Preferred Stock.
	  	 	10	 
			
	 Section 3.4.
	  	 Warranty as to Receipts.
	  	 	10	 

  
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	ARTICLE IV	 
	
	THE DEPOSITED SECURITIES; NOTICES	 
			
	 Section 4.1.
	  	 Cash Distributions.
	  	 	10	 
			
	 Section 4.2.
	  	 Distributions Other than Cash, Rights, Preferences or Privileges.
	  	 	11	 
			
	 Section 4.3.
	  	 Subscription Rights, Preferences or Privileges.
	  	 	11	 
			
	 Section 4.4.
	  	 Notice of Dividends, etc.; Fixing Record Date for Holders of Receipts.
	  	 	12	 
			
	 Section 4.5.
	  	 Voting Rights.
	  	 	13	 
			
	 Section 4.6.
	  	 Changes Affecting Deposited Securities and Reclassifications, Recapitalizations, etc.
	  	 	13	 
			
	 Section 4.7.
	  	 Delivery of Reports.
	  	 	14	 
			
	 Section 4.8.
	  	 Lists of Receipt Holders.
	  	 	14	 
	
	ARTICLE V	 
	
	THE DEPOSITARY, THE DEPOSITARY’S AGENTS, THE REGISTRAR AND
THE COMPANY	 
			
	 Section 5.1.
	  	 Maintenance of Offices, Agencies and Transfer Books by the Depositary; Registrar.
	  	 	14	 
			
	 Section 5.2.
	  	 Prevention of or Delay in Performance by the Depositary, the Depositary’s Agents, the Registrar or the
Company.
	  	 	15	 
			
	 Section 5.3.
	  	 Obligations of the Depositary, the Depositary’s Agents, the Registrar and the Company.
	  	 	15	 
			
	 Section 5.4.
	  	 Resignation and Removal of the Depositary; Appointment of Successor Depositary.
	  	 	17	 
			
	 Section 5.5.
	  	 Corporate Notices and Reports.
	  	 	17	 
			
	 Section 5.6.
	  	 Indemnification by the Company.
	  	 	18	 
			
	 Section 5.7.
	  	 Fees, Charges and Expenses.
	  	 	18	 
	
	ARTICLE VI	 
	
	AMENDMENT AND TERMINATION	 
			
	 Section 6.1.
	  	 Amendment.
	  	 	19	 

  
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	 Section 6.2.
	  	 Termination.
	  	 	19	 
	
	ARTICLE VII	 
	
	MISCELLANEOUS	 
			
	 Section 7.1.
	  	 Counterparts.
	  	 	19	 
			
	 Section 7.2.
	  	 Exclusive Benefit of Parties.
	  	 	20	 
			
	 Section 7.3.
	  	 Invalidity of Provisions.
	  	 	20	 
			
	 Section 7.4.
	  	 Notices.
	  	 	20	 
			
	 Section 7.5.
	  	 Depositary’s Agents.
	  	 	21	 
			
	 Section 7.6.
	  	 Appointment of Registrar and Transfer Agent in Respect of the Receipts.
	  	 	21	 
			
	 Section 7.7.
	  	 Holders of Receipts Are Parties.
	  	 	21	 
			
	 Section 7.8.
	  	 Governing Law.
	  	 	21	 
			
	 Section 7.9.
	  	 Inspection of Deposit Agreement.
	  	 	21	 
			
	 Section 7.10.
	  	 Headings.
	  	 	21	 
			
	 Exhibit A
	  	 Form of Receipt
	  	 	A-1	 
			
	 Exhibit B
	  	 Certificate of Designation
	  	 	B-1	 

  
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 DEPOSIT AGREEMENT dated as of April 24, 2017, among (i) Wells
Fargo & Company, a Delaware corporation, (ii) Wells Fargo Bank, N.A., a national banking association formed under the laws of the United States, as Depositary and (iii) the holders from time to time of the Receipts described
herein. 
 WHEREAS, it is desired to provide, as hereinafter set forth in this Deposit Agreement, for the deposit of shares
of Non-Cumulative Perpetual Class A Preferred Stock, Series Y, of the Company with the Depositary for the purposes set forth in this Deposit Agreement and for the issuance hereunder of Depositary Shares representing a fractional interest
in the Series Y Preferred Stock deposited and for the execution and delivery of Receipts evidencing Depositary Shares; 

WHEREAS, the Receipts are to be substantially in the form of Exhibit A attached hereto, with appropriate insertions,
modifications and omissions, as hereinafter provided in this Deposit Agreement; and 
 WHEREAS, the terms and conditions of
the Series Y Preferred Stock of the Company are substantially set forth in the Certificate of Designation attached hereto as Exhibit B; 

NOW, THEREFORE, in consideration of the premises, the parties hereto agree as follows: 

ARTICLE I 
 DEFINED
TERMS 
  

	 	Section 1.1.	Definitions. 

 The following definitions shall for all purposes, unless
otherwise indicated, apply to the respective terms (in the singular and plural forms of such terms) used in this Deposit Agreement and the Receipts: 

“Certificate of Designation” shall mean the relevant Certificate of Designation filed with the
Secretary of State of the State of Delaware establishing the Series Y Preferred Stock as a series of preferred stock of the Company. 

“Company” shall mean Wells Fargo & Company, a Delaware corporation, and its successors. 

“Deposit Agreement” shall mean this agreement, as the same may be amended, modified or supplemented
from time to time in accordance with the terms hereof. 
 “Depositary” shall mean Wells Fargo
Bank, N.A., a national banking association formed under the laws of the United States, and any successor as Depositary hereunder. 

“Depositary Share Redemption Price” shall have the meaning set forth in Section 2.8. 

 “Depositary Shares” shall mean the depositary shares,
each representing a 1/1,000th fractional interest in a share of the Series Y Preferred Stock, and the same proportionate interest in any and all other property received by the Depositary in respect of such share of Series Y Preferred Stock
and held under this Deposit Agreement, all as evidenced by the Receipts issued hereunder. Subject to the terms of this Deposit Agreement, each owner of a Depositary Share is entitled, proportionately, to all the rights, preferences and privileges of
the Series Y Preferred Stock represented by such Depositary Share (including the dividend, voting, redemption and liquidation rights contained in the Certificate of Designation). 

“Depositary’s Agent” shall mean an agent appointed by the Depositary pursuant to Section 7.5. 

“Depositary’s Office” shall mean the principal office of the Depositary at which at any
particular time its depositary receipt business in respect of matters governed by this Deposit Agreement shall be administered. 

“DTC” shall mean The Depositary Trust Company. 

“Exchange Event” shall mean with respect to any Global Registered Receipt: 

(1)      (A) the Global Receipt Depository which is the holder of such Global
Registered Receipt or Receipts notifies the Company that it is no longer willing or able to properly discharge its responsibilities under any Letter of Representations or that it is no longer eligible or in good standing under the Securities
Exchange Act, and (B) the Company has not appointed a qualified successor Global Receipt Depository within ninety (90) calendar days after the Company received such notice, or 

(2)      the Company in its sole discretion notifies the Depositary in writing
that the Receipts or portion thereof issued or issuable in the form of one or more Global Registered Receipts shall no longer be represented by such Global Receipt or Receipts. 

“Global Receipt Depository” shall mean, with respect to any Receipt issued hereunder, DTC or such
other entity designated as Global Receipt Depository by the Company in or pursuant to this Deposit Agreement, which Person must be, to the extent required by any applicable law or regulation, a clearing agency registered under the Securities
Exchange Act. 
 “Global Registered Receipts” shall mean a global registered Receipt, in
definitive or book-entry form, registered in the name of a nominee of DTC. 
 “Letter of
Representations” shall mean any applicable agreement among the Company, the Depositary and a Global Receipt Depository with respect to such Global Receipt Depository’s rights and obligations with respect to any Global Registered
Receipts, as the same may be amended, supplemented, restated or otherwise modified from time to time and any successor agreement thereto. 

“Preferred Stock Redemption Price” shall have the meaning set forth in Section 2.8. 

  
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 “Receipt” shall mean a receipt issued hereunder to
evidence one or more Depositary Shares held of record by the record holder of such Depositary Shares, whether in definitive or temporary form, substantially in the form set forth as Exhibit A.  

“record holder” or “holder” as applied to a Receipt shall mean the person in whose
name a Receipt is registered on the books of the Depositary maintained by the Depositary for such purpose. 

“Registrar” shall mean the Depositary or such other bank or trust company which shall be appointed by
the Company to register ownership and transfers of Receipts as herein provided and if a Registrar shall be so appointed, references herein to “the books” of or maintained by the Depositary shall be deemed, as applicable, to refer as well
to the register maintained by such Registrar for such purpose. 
 “Securities Act” shall mean the
Securities Act of 1933, as amended. 
 “Securities Exchange Act” shall mean the Securities Act of 1934, as
amended. 
 “Series Y Preferred Stock” shall mean shares of the Company’s Non-Cumulative
Perpetual Class A Preferred Stock, Series Y, no par value, with a liquidation preference amount of $25,000 per share, designated and described in the Certificate of Designation. 

ARTICLE II 
 FORM
OF RECEIPTS, DEPOSIT OF SERIES Y PREFERRED STOCK, 

EXECUTION AND DELIVERY, TRANSFER, 

SURRENDER AND REDEMPTION OF RECEIPTS 

 

	 	Section 2.1.	Form and Transfer of Receipts. 

 Definitive Receipts shall be
substantially in the form set forth in Exhibit A attached to this Deposit Agreement, in each case with appropriate insertions, modifications and omissions, as hereinafter provided and shall be engraved or otherwise prepared so as to comply with
applicable rules of the New York Stock Exchange or its successor. 
 Receipts shall be executed by the Depositary by the
manual signature of a duly authorized officer of the Depositary; provided, that such signature may be a facsimile if a Registrar for the Receipts (other than the Depositary) shall have been appointed and such Receipts are countersigned by a duly
authorized officer of the Registrar. No Receipt shall be entitled to any benefits under this Deposit Agreement or be valid or obligatory for any purpose unless it shall have been executed manually by a duly authorized officer of the Depositary or,
if a Registrar for the Receipts (other than the Depositary) shall have been appointed, by manual or facsimile signature of a duly authorized officer of the Depositary and countersigned by a duly authorized officer of such Registrar. The Depositary
shall record on its books each Receipt so signed and delivered as hereinafter provided. 
 Receipts shall be in
denominations of any number of whole Depositary Shares. All receipts shall be dated the date of their issuance. 

  
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 Receipts may be endorsed with or have incorporated in the text thereof such
legends or recitals or changes not inconsistent with the provisions of this Deposit Agreement all as may be required by the Depositary and approved by the Company or required to comply with any applicable law or any regulation thereunder or with the
rules and regulations of any securities exchange upon which the Series Y Preferred Stock, the Depositary Shares or the Receipts may be listed or to conform with any usage with respect thereto, or to indicate any special limitations or
restrictions to which any particular Receipts are subject. 
 Title to Depositary Shares evidenced by a Receipt which is
properly endorsed or accompanied by a properly executed instrument of transfer, shall be transferable by delivery with the same effect as in the case of a negotiable instrument; provided, however, that until transfer of any particular Receipt shall
be registered on the books of the Depositary as provided in Section 2.3, the Depositary may, notwithstanding any notice to the contrary, treat the record holder thereof at such time as the absolute owner thereof for the purpose of determining
the person entitled to distributions of dividends or other distributions or to any notice provided for in this Deposit Agreement and for all other purposes. 
  

	 	Section 2.2.	 Deposit of Series Y Preferred Stock; Execution and Delivery of Receipts in Respect Thereof.

 Subject to the terms and conditions of this Deposit Agreement, the Company may from time to time
deposit shares of the Series Y Preferred Stock under this Deposit Agreement by delivering to the Depositary, including via electronic book-entry, such shares of the Series Y Preferred Stock to be deposited, properly endorsed or accompanied
by a duly executed instrument of transfer or endorsement, if applicable and required by the Depositary, in form satisfactory to the Depositary, together with all such certifications as may be required by the Depositary in accordance with the
provisions of this Deposit Agreement and all other information required to be set forth, and together with a written order of the Company directing the Depositary to execute and deliver to, or upon the written order of, the person or persons stated
in such order a Receipt or Receipts evidencing in the aggregate the number of Depositary Shares representing such deposited Series Y Preferred Stock. 

Deposited Series Y Preferred Stock shall be held by the Depositary at the Depositary’s Office or at such other place
or places as the Depositary shall determine. The Depositary shall not lend any Series Y Preferred Stock deposited hereunder. 

Upon receipt by the Depositary of Series Y Preferred Stock deposited in accordance with the provisions of this Section,
together with the other documents required as above specified, and upon recordation of the Series Y Preferred Stock on the books of the Company (or its duly appointed transfer agent) in the name of the Depositary or its nominee, the Depositary,
subject to the terms and conditions of this Deposit Agreement, shall execute and deliver to or upon the order of the person or persons named in the written order delivered to the Depositary referred to in the first paragraph of this Section, a
Receipt or Receipts evidencing in the aggregate the number of Depositary Shares representing the Series Y Preferred Stock so deposited and registered in such name or names as may be requested by such person or persons. The Depositary shall
execute and deliver such Receipt or Receipts at the Depositary’s Office or such 

  
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other offices, if any, as the Depositary may designate. Delivery at other offices shall be at the risk and expense of the person requesting such delivery. 

 

	 	Section 2.3.	Registration of Transfer of Receipts. 

 Subject to the terms and
conditions of this Deposit Agreement, the Depositary shall register on its books from time to time transfers of Receipts upon any surrender thereof by the holder in person or by duly authorized attorney, properly endorsed or accompanied by a
properly executed instrument of transfer. Thereupon, the Depositary shall execute a new Receipt or Receipts evidencing the same aggregate number of Depositary Shares as those evidenced by the Receipt or Receipts surrendered and deliver such new
Receipt or Receipts to or upon the order of the person entitled thereto. 
 The Depositary shall not be required (a) to
issue, transfer or exchange any Receipts for a period beginning at the opening of business fifteen days next preceding any selection of Depositary Shares and Series Y Preferred Stock to be redeemed and ending at the close of business on the day
of the mailing of notice of redemption, or (b) to transfer or exchange for another Receipt any Receipt called or being called for redemption in whole or in part except as provided in Section 2.8. 

 

	 	Section 2.4.	 Split-ups and Combinations of Receipts; Surrender of Receipts and Withdrawal of Series Y Preferred
Stock. 

 Upon surrender of a Receipt or Receipts at the Depositary’s Office or at such other
offices as it may designate for the purpose of effecting a split-up or combination of such Receipt or Receipts, and subject to the terms and conditions of this Deposit Agreement, the Depositary shall execute a new Receipt or Receipts in the
authorized denomination or denominations requested, evidencing the aggregate number of Depositary Shares evidenced by the Receipt or Receipts surrendered, and shall deliver such new Receipt or Receipts to or upon the order of the holder of the
Receipt or Receipts so surrendered. 
 Any holder of a Receipt or Receipts may withdraw the number of whole shares of
Series Y Preferred Stock and all money and other property, if any, represented thereby by surrendering such Receipt or Receipts, at the Depositary’s Office or at such other offices as the Depositary may designate for such withdrawals.
Thereafter, without unreasonable delay, the Depositary shall deliver to such holder, or to the person or persons designated by such holder as hereinafter provided, the number of whole shares of Series Y Preferred Stock and all money and other
property, if any, represented by the Receipt or Receipts so surrendered for withdrawal, but holders of such whole shares of Series Y Preferred Stock will not thereafter be entitled to deposit such Series Y Preferred Stock hereunder or to
receive a Receipt evidencing Depositary Shares therefor. If a Receipt delivered by the holder to the Depositary in connection with such withdrawal shall evidence a number of Depositary Shares in excess of the number of Depositary Shares representing
the number of whole shares of Series Y Preferred Stock to be so withdrawn, the Depositary shall at the same time, in addition to such number of whole shares of Series Y Preferred Stock and such money and other property, if any, to be so
withdrawn, deliver to such holder, or subject to Section 2.3 upon such holder’s order, a new Receipt evidencing such excess number of Depositary Shares. 

  
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 In no event will fractional shares of Series Y Preferred Stock (or any cash
payment in lieu thereof) be delivered by the Depositary. Delivery of the Series Y Preferred Stock and money and other property, if any, being withdrawn may be made by the delivery of such certificates, documents of title and other instruments
as the Depositary may deem appropriate. 
 If the Series Y Preferred Stock and the money and other property, if any,
being withdrawn are to be delivered to a person or persons other than the record holder of the Receipt or Receipts being surrendered for withdrawal of Series Y Preferred Stock, such holder shall execute and deliver to the Depositary a written
order so directing the Depositary and the Depositary may require that the Receipt or Receipts surrendered by such holder for withdrawal of such shares of Series Y Preferred Stock be properly endorsed in blank or accompanied by a properly
executed instrument of transfer in blank. 
 Delivery of the Series Y Preferred Stock and the money and other property,
if any, represented by Receipts surrendered for withdrawal shall be made by the Depositary at the Depositary’s Office, except that, at the request, risk and expense of the holder surrendering such Receipt or Receipts and for the account of the
holder thereof, such delivery may be made at such other place as may be designated by such holder. 
  

	 	Section 2.5.	Limitations on Execution and Delivery, Transfer, Surrender and Exchange of Receipts. 

As a condition precedent to the execution and delivery, registration of transfer, split-up, combination, surrender or exchange
of any Receipt, the Depositary, any of the Depositary’s Agents or the Company may require payment to it of a sum sufficient for the payment (or, in the event that the Depositary or the Company shall have made such payment, the reimbursement to
it) of any charges or expenses payable by the holder of a Receipt pursuant to Section 5.7, may require the production of evidence satisfactory to it as to the identity and genuineness of any signature and may also require compliance with such
regulations, if any, as the Depositary or the Company may establish consistent with the provisions of this Deposit Agreement and/or applicable law. 

The deposit of Series Y Preferred Stock may be refused, the delivery of Receipts against Series Y Preferred Stock
may be suspended, the registration of transfer of Receipts may be refused and the registration of transfer, surrender or exchange of outstanding Receipts may be suspended (i) during any period when the register of stockholders of the Company is
closed or (ii) if any such action is deemed necessary or advisable by the Depositary, any of the Depositary’s Agents or the Company at any time or from time to time because of any requirement of law or of any government or governmental
body or commission or under any provision of this Deposit Agreement. 
  

	 	Section 2.6.	Lost Receipts, etc. 

 In case any Receipt shall be mutilated, destroyed,
lost or stolen, the Depositary in its discretion may execute and deliver a Receipt of like form and tenor in exchange and substitution for such mutilated Receipt, or in lieu of and in substitution for such destroyed, lost or stolen Receipt, upon
(i) the filing by the holder thereof with the Depositary of evidence satisfactory to 

  
 6 

 
the Depositary of such destruction or loss or theft of such Receipt, of the authenticity thereof and of such holder’s ownership thereof and (ii) the holder thereof furnishing of the
Depositary with reasonable indemnification satisfactory to the Depositary. 
  

	 	Section 2.7.	Cancellation and Destruction of Surrendered Receipts. 

 All Receipts
surrendered to the Depositary or any Depositary’s Agent shall be cancelled by the Depositary. Except as prohibited by applicable law or regulation, the Depositary is authorized and directed to destroy all Receipts so cancelled. 

 

	 	Section 2.8.	Redemption of Series Y Preferred Stock. 

 Whenever the
Company shall be permitted and shall elect to redeem shares of Series Y Preferred Stock in accordance with the provisions of the Certificate of Designation (including on account of a Regulatory Capital Treatment Event, as described therein), it
shall (unless otherwise agreed to in writing with the Depositary) give or cause to be given to the Depositary, not less than 40 days and not more than 70 days prior to the Redemption Date (as defined below), notice of the date of such
proposed redemption of Series Y Preferred Stock and of the number of such shares held by the Depositary to be so redeemed and the applicable Depositary Share Redemption Price, which notice shall be accompanied by a certificate from the Company
stating that such redemption of Series Y Preferred Stock is in accordance with the provisions of the Certificate of Designation. On the date of such redemption, provided that the Company shall then have paid or caused to be paid in full to the
Depositary the redemption price per share of Series Y Preferred Stock to be redeemed, plus an amount equal to any accrued and unpaid dividends thereon to the date fixed for redemption, in accordance with and as required by the provisions of the
Certificate of Designation (the “Preferred Stock Redemption Price”), the Depositary shall redeem the number of Depositary Shares representing such Series Y Preferred Stock. The Depositary shall mail notice of the Company’s
redemption of Series Y Preferred Stock and the proposed simultaneous redemption of the number of Depositary Shares representing the Series Y Preferred Stock to be redeemed by first-class mail, postage prepaid (or another reasonably
acceptable transmission method), not less than 30 days and not more than 60 days prior to the date fixed for redemption of such Series Y Preferred Stock and Depositary Shares (the “Redemption Date”), to the record holders
of the Receipts evidencing the Depositary Shares to be so redeemed at the addresses of such holders as they appear on the records of the Depositary, but neither failure to mail any such notice of redemption of Depositary Shares to one or more such
holders nor any defect in any notice of redemption of Depositary Shares to one or more such holders shall affect the sufficiency of the proceedings for redemption as to the other holders. Each such notice shall be prepared by the Company and shall
state: (i) the Redemption Date; (ii) the number of Depositary Shares to be redeemed and, if less than all the Depositary Shares held by any such holder are to be redeemed, the number of such Depositary Shares held by such holder to be so
redeemed; (iii) the Depositary Share Redemption Price (as defined below); and (iv) the place or places where Receipts evidencing Depositary Shares are to be surrendered for payment of the Depositary Share Redemption Price (as defined
below). In case less than all the outstanding Depositary Shares are to be redeemed, the Depositary Shares to be so redeemed shall be selected by the Depositary either pro rata (as nearly as may be) or in any other manner consistent with the
rules and policies of the New York Stock Exchange determined  

  
 7 

 
by the Depositary in its sole discretion to be fair and equitable. In any case, the Depositary will redeem Depositary Shares only in increments of 1,000 Depositary Shares and multiples thereof.

 Notice having been mailed or transmitted by the Depositary as aforesaid, from and after the Redemption Date
(unless the Company shall have failed to provide the funds necessary to redeem the Series Y Preferred Stock evidenced by the Depositary Shares called for redemption) (i) all shares of Series Y Preferred Stock called for redemption
shall cease to be outstanding and any rights with respect to such shares shall cease and terminate (except for the right to receive the Preferred Stock Redemption Price without interest), (ii) the Depositary Shares being redeemed from such
proceeds shall cease to be outstanding and all rights of the holders of Receipts evidencing such Depositary Shares shall, to the extent of such Depositary Shares, cease and terminate (except the right to receive the Depositary Share Redemption Price
without interest), and (iii) upon surrender in accordance with such redemption notice of the Receipts evidencing any such Depositary Shares called for redemption (properly endorsed or assigned for transfer, if the Depositary or applicable law
shall so require), such Depositary Shares shall be redeemed by the Depositary at a redemption price per Depositary Share (the “Depositary Share Redemption Price”) equal to 1/1,000th of the Preferred Stock Redemption Price per share
of Series Y Preferred Stock so redeemed plus all money and other property, if any, represented by such Depositary Shares. 

If fewer than all of the Depositary Shares evidenced by a Receipt are called for redemption, the Depositary will deliver to
the holder of such Receipt upon its surrender to the Depositary, together with the redemption payment, a new Receipt evidencing the Depositary Shares evidenced by such prior Receipt and not called for redemption. 

 

	 	Section 2.9.	Receipts Issuable in Global Registered Form. 

 If the Company shall
determine in a writing delivered to the Depositary that the Receipts are to be issued in whole or in part in the form of one or more Global Registered Receipts, then the Depositary shall, in accordance with the other provisions of this Deposit
Agreement, execute and deliver one or more Global Registered Receipts evidencing such Receipts, which (i) shall represent, and shall be denominated in an amount equal to the aggregate principal amount of, the Receipts to be represented by such
Global Registered Receipt or Receipts, and (ii) shall be registered in the name of the Global Receipt Depository therefor or its nominee. 

Notwithstanding any other provision of this Deposit Agreement to the contrary, unless otherwise provided in the Global
Registered Receipt, a Global Registered Receipt may only be transferred in whole and only by the applicable Global Receipt Depository for such Global Registered Receipt to a nominee of such Global Receipt Depository, or by a nominee of such Global
Receipt Depository to such Global Receipt Depository or another nominee of such Global Receipt Depository, or by such Global Receipt Depository or any such nominee to a successor Global Receipt Depository for such Global Registered Receipt selected
or approved by the Company or to a nominee of such successor Global Receipt Depository. Except as provided below, owners solely of beneficial interests in a Global Registered Receipt shall not be entitled to receive physical delivery of the Receipts
represented by such Global Registered Receipt. Neither any such beneficial owner nor any direct or indirect participant of a Global Receipt Depository shall have any rights under this Deposit Agreement with respect to any Global Registered

  
 8 

 
Receipt held on their behalf by a Global Receipt Depository and such Global Receipt Depository may be treated by the Company, the Depositary and any director, officer, employee or agent of the
Company or the Depositary as the holder of such Global Registered Receipt for all purposes whatsoever. 
 Unless and until
definitive Receipts are delivered to the owners of the beneficial interests in a Global Registered Receipt, (1) the applicable Global Receipt Depository will make book-entry transfers among its participants and receive and transmit all payments
and distributions in respect of the Global Registered Receipts to such participants, in each case, in accordance with its applicable procedures and arrangements, and (2) whenever any notice, payment or other communication to the holders of
Global Registered Receipts is required under this Deposit Agreement, the Company and the Depositary shall give all such notices, payments and communications specified herein to be given to such holders to the applicable Global Receipt Depository.

 If an Exchange Event has occurred with respect to any Global Registered Receipt, then, in any such event, the Depositary
shall, upon receipt of a written order from the Company for the execution and delivery of individual definitive registered Receipts in exchange for such Global Registered Receipt, shall execute and deliver individual definitive registered Receipts,
in authorized denominations and of like tenor and terms in an aggregate principal amount equal to the principal amount of the Global Registered Receipt surrendered in exchange for such Global Registered Receipt. 

Definitive registered Receipts issued in exchange for a Global Registered Receipt pursuant to this Section shall be registered
in such names and in such authorized denominations as the Global Receipt Depository for such Global Registered Receipt, pursuant to instructions from its participants, shall instruct the Depositary in writing. The Depositary shall deliver such
Receipts to the persons in whose names such Receipts are so registered. 
 Notwithstanding anything to the contrary in this
Deposit Agreement, should the Company determine that the Receipts should be issued as a Global Registered Receipt, the parties hereto shall comply with the terms of each Letter of Representations. 

ARTICLE III 

CERTAIN OBLIGATIONS OF 

HOLDERS OF RECEIPTS AND THE COMPANY 

 

	 	Section 3.1.	Filing Proofs, Certificates and Other Information. 

 Any holder of a
Receipt may be required from time to time to file such proof of residence, or other matters or other information, to execute such certificates and to make such representations and warranties as the Depositary or the Company may reasonably deem
necessary or proper. The Depositary or the Company may withhold the delivery, or delay the registration of transfer or redemption, of any Receipt or the withdrawal of the Series Y Preferred Stock represented by the Depositary Shares evidenced
by any Receipt or the distribution of any dividend or other distribution or the sale of any rights or of the proceeds thereof until such proof 

  
 9 

 
or other information is filed or such certificates are executed or such representations and warranties are made. 
  

	 	Section 3.2.	Payment of Taxes or Other Governmental Charges. 

 Holders of Receipts
shall be obligated to make payments to the Depositary of certain charges and expenses, as provided in Section 5.7. Registration of transfer of any Receipt or any withdrawal of Series Y Preferred Stock and all money or other property, if
any, represented by the Depositary Shares evidenced by such Receipt may be refused until any such payment due is made, and any dividends or other distributions may be withheld or any part of or all the Series Y Preferred Stock or other property
represented by the Depositary Shares evidenced by such Receipt and not theretofore sold may be sold for the account of the holder thereof (after attempting by reasonable means to notify such holder prior to such sale), and such dividends or other
distributions or the proceeds of any such sale may be applied to any payment of such charges or expenses, the holder of such Receipt remaining liable for any deficiency. 
  

	 	Section 3.3.	Warranty as to Series Y Preferred Stock. 

 The Company hereby
represents and warrants that the Series Y Preferred Stock, when issued, will be duly authorized, validly issued, fully paid and nonassessable (subject to 12 U.S.C. § 55). Such representation and warranty shall survive the deposit
of the Series Y Preferred Stock and the issuance of Receipts. 
  

	 	Section 3.4.	Warranty as to Receipts. 

 The Company hereby represents and warrants
that the Receipts, when issued, will represent legal and valid interests in the Series Y Preferred Stock. Such representation and warranty shall survive the deposit of the Series Y Preferred Stock and the issuance of Receipts. 

ARTICLE IV 
 THE
DEPOSITED SECURITIES; NOTICES 
  

	 	Section 4.1.	Cash Distributions. 

 Whenever the Depositary shall receive any cash
dividend or other cash distribution on Series Y Preferred Stock, the Depositary shall, subject to Sections 3.1 and 3.2, distribute to record holders of Receipts on the record date fixed pursuant to Section 4.4 such amounts of such dividend
or distribution as are, as nearly as practicable, in proportion to the respective numbers of Depositary Shares evidenced by the Receipts held by such holders; provided, however, that in case the Company or the Depositary shall be required to
withhold and shall withhold from any cash dividend or other cash distribution in respect of the Series Y Preferred Stock an amount on account of taxes, the amount made available for distribution or distributed in respect of Depositary Shares
shall be reduced accordingly. The Depositary shall distribute or make available for distribution, as the case may be, only such amount, however, as can be distributed without attributing to any holder of Depositary Shares a fraction of one cent. If
the calculation of a cash distribution results in an amount that is a fraction of a cent and that fraction is equal to or greater than $0.005, the Depositary shall round that amount up to the next highest whole cent and

  
 10 

 
will request that Company pay the resulting additional amount to the Depositary for the relevant dividend or other cash distribution. If the fractional amount is less than $0.005, the Depositary
shall disregard that fractional amount and any balance thus not distributable shall be held by the Depositary (without liability for interest thereon) and shall be added to and be treated as part of the next sum received by the Depositary for
distribution to record holders of Receipts then outstanding. Each holder of a Receipt shall provide the Depositary with its certified tax identification number on a properly completed Form W-8 or W-9, as may be applicable. Each holder of a Receipt
acknowledges that, in the event of non-compliance with the preceding sentence, the Internal Revenue Code of 1986, as amended, may require withholding by the Depositary of a portion of any of the distributions to be made hereunder. 

 

	 	Section 4.2.	Distributions Other than Cash, Rights, Preferences or Privileges. 

Whenever the Depositary shall receive any distribution other than cash, rights, preferences or privileges upon Series Y
Preferred Stock, the Depositary shall, at the direction of the Company, subject to Sections 3.1 and 3.2, distribute to record holders of Receipts on the record date fixed pursuant to Section 4.4 such amounts of the securities or property
received by it as are, as nearly as practicable, in proportion to the respective numbers of Depositary Shares evidenced by the Receipts held by such holders, in any manner that the Company may deem equitable and practicable for accomplishing such
distribution. If in the opinion of the Depositary such distribution cannot be made proportionately among such record holders in accordance with the direction of the Company, or if for any other reason (including any requirement that the Company or
the Depositary withhold an amount on account of taxes) the Depositary deems, after consultation with the Company, such distribution not to be feasible, the Depositary may, with the approval of the Company, adopt such method as it deems equitable and
practicable for the purpose of effecting such distribution, including the sale (at public or private sale) of the securities or property thus received, or any part thereof, in a commercially reasonable manner. The net proceeds of any such sale
shall, subject to Sections 3.1 and 3.2, be distributed or made available for distribution, as the case may be, by the Depositary to record holders of Receipts as provided by Section 4.1 in the case of a distribution received in cash. The
Company shall not make any distribution of such securities or property to the Depositary and the Depositary shall not make any distribution of such securities or property to the holders of Receipts unless the Company shall have provided an opinion
of counsel stating that such securities or property have been registered under the Securities Act or do not need to be registered in connection with such distributions. 
  

	 	Section 4.3.	Subscription Rights, Preferences or Privileges. 

 If the Company shall
at any time offer or cause to be offered to the persons in whose names Series Y Preferred Stock is recorded on the books of the Company any rights, preferences or privileges to subscribe for or to purchase any securities or any rights,
preferences or privileges of any other nature, such rights, preferences or privileges shall in each such instance be made available by the Depositary to the record holders of Receipts in such manner as the Company shall instruct the Depositary in
writing, either by the issue to such record holders of warrants representing such rights, preferences or privileges or by such other method as may be approved by the Company; provided, however, that (i) if at the time of issue or offer of any
such rights, preferences or privileges the Depositary determines that it is not lawful or (after consultation 

  
 11 

 
with the Company) not feasible to make such rights, preferences or privileges available to holders of Receipts by the issue of warrants or otherwise, or (ii) if and to the extent so
instructed by holders of Receipts who do not desire to exercise such rights, preferences or privileges, then the Depositary, in its discretion (with approval of the Company, in any case where the Depositary has determined that it is not feasible to
make such rights, preferences or privileges available), may, if applicable laws or the terms of such rights, preferences or privileges permit such transfer, sell such rights, preferences or privileges at public or private sale, at such place or
places and upon such terms as it may deem proper. The net proceeds of any such sale shall, subject to Sections 3.1 and 3.2, be distributed by the Depositary to the record holders of Receipts entitled thereto as provided by Section 4.1 in the
case of a distribution received in cash. 
 The Company shall notify the Depositary whether registration under the
Securities Act of the securities to which any rights, preferences or privileges relate is required in order for holders of Receipts to be offered or sold the securities to which such rights, preferences or privileges relate, and the Company agrees
with the Depositary that it will file promptly a registration statement pursuant to the Securities Act with respect to such rights, preferences or privileges and securities and use its reasonable best efforts and take all steps available to it to
cause such registration statement to become effective sufficiently in advance of the expiration of such rights, preferences or privileges to enable such holders to exercise such rights, preferences or privileges. In no event shall the Depositary
make available to the holders of Receipts any right, preference or privilege to subscribe for or to purchase any securities unless and until such registration statement shall have become effective, or the Company shall have provided to the
Depositary an opinion of counsel to the effect that the offering and sale of such securities to such holders are exempt from registration under the provisions of the Securities Act. 

The Company shall notify the Depositary whether any other action under the laws of any jurisdiction or any governmental or
administrative authorization, consent or permit is required in order for such rights, preferences or privileges to be made available to holders of Receipts, and the Company agrees with the Depositary that the Company will use its reasonable best
efforts to take such action or obtain such authorization, consent or permit sufficiently in advance of the expiration of such rights, preferences or privileges to enable such holders to exercise such rights, preferences or privileges. 

 

	 	Section 4.4.	Notice of Dividends, etc.; Fixing Record Date for Holders of Receipts. 

Whenever any cash dividend or other cash distribution shall become payable or any distribution other than cash shall be made,
or if rights, preferences or privileges shall at any time be offered, with respect to Series Y Preferred Stock, or whenever the Depositary shall receive notice of any meeting at which holders of Series Y Preferred Stock are entitled to
vote or of which holders of Series Y Preferred Stock are entitled to notice, or whenever the Depositary and the Company shall decide it is appropriate, the Depositary shall in each such instance fix a record date (which shall be the same date
as the record date fixed by the Company with respect to, or otherwise in accordance with the terms of, the Series Y Preferred Stock, as identified in a written notice to the Depositary of such record date) for the determination of the holders
of Receipts who shall be entitled to receive such dividend, distribution, rights, preferences or privileges or the net proceeds of the sale thereof, or to give instructions for the exercise of voting rights at any such meeting, or who shall be
entitled to notice of such meeting or for any other appropriate reasons. 

  
 12 

	 	Section 4.5.	Voting Rights. 

 Subject to the provisions of the Certificate of
Designation, upon receipt of notice of any meeting at which the holders of Series Y Preferred Stock are entitled to vote, the Depositary shall, as soon as practicable thereafter, mail to the record holders of Receipts a notice prepared by the
Company which shall contain (i) such information as is contained in such notice of meeting and (ii) a statement that the holders may, subject to any applicable restrictions, instruct the Depositary as to the exercise of the voting rights
pertaining to the amount of Series Y Preferred Stock represented by their respective Depositary Shares (including an express indication that instructions may be given to the Depositary to give a discretionary proxy to a person designated by the
Company) and a brief statement as to the manner in which such instructions may be given. Upon the written request of the holders of Receipts on the relevant record date, the Depositary shall endeavor insofar as practicable to vote or cause to be
voted, in accordance with the instructions set forth in such requests, the maximum number of whole shares of Series Y Preferred Stock represented by the Depositary Shares evidenced by all Receipts as to which any particular voting instructions
are received. The Company hereby agrees to take all reasonable action which may be deemed necessary by the Depositary in order to enable the Depositary to vote such Series Y Preferred Stock or cause such Series Y Preferred Stock to be
voted. In the absence of specific instructions from holders of Receipts, the Depositary will abstain from voting (but shall appear) at any meeting with respect to the Series Y Preferred Stock (unless directed to the contrary by the record
holders of all related Receipts) to the extent of the Depositary Shares (or portion thereof) represented by the applicable Depositary Shares evidenced by such Receipt. 
  

	 	Section 4.6.	 Changes Affecting Deposited Securities and Reclassifications, Recapitalizations, etc.

 Upon any change in par or stated value, split-up, combination or any other reclassification of the
Series Y Preferred Stock subject to the provisions of the Certificate of Designation, or upon any recapitalization, reorganization, merger or consolidation affecting the Company or to which it is a party, the Depositary may in its discretion
with the approval of, and shall upon the instructions of, the Company, and (in either case) in such manner as the Depositary may deem equitable, (i) make such adjustments as are certified by the Company in the fraction of an interest
represented by one Depositary Share in one share of Series Y Preferred Stock and in the ratio of the Depositary Share Redemption Price to the Preferred Stock Redemption Price, in each case as may be necessary fully to reflect the effects of
such change in par or stated value, split-up, combination or other reclassification of Series Y Preferred Stock, or of such recapitalization, reorganization, merger or consolidation and (ii) treat any securities which shall be received by
the Depositary in exchange for or upon conversion of or in respect of the Series Y Preferred Stock as new deposited securities so received in exchange for or upon conversion or in respect of such Series Y Preferred Stock. In any such case
the Depositary may in its discretion, with the approval of the Company, execute and deliver additional Receipts or may call for the surrender of all outstanding Receipts to be exchanged for new Receipts specifically describing such new deposited
securities. Anything to the contrary herein notwithstanding, holders of Receipts shall have the right from and after the effective date of any such change in par or stated value, split-up, combination or other reclassification of the Series Y
Preferred Stock or any such recapitalization, reorganization, merger or consolidation to surrender 

  
 13 

 
such Receipts to the Depositary with instructions to convert, exchange or surrender the Series Y Preferred Stock represented thereby only into or for, as the case may be, the kind and amount
of shares of Series Y Preferred Stock and other securities and property and cash into which the Series Y Preferred Stock represented by such Receipts might have been converted or for which such Series Y Preferred Stock might have been
exchanged or surrendered immediately prior to the effective date of such transaction. 
  

	 	Section 4.7.	Delivery of Reports. 

 The Depositary shall furnish to holders of
Receipts any reports and communications received from the Company which are received by the Depositary and which the Company is required to furnish to the holders of the Series Y Preferred Stock. 

 

	 	Section 4.8.	Lists of Receipt Holders. 

 Promptly upon request from time to time by
the Company, the Depositary shall furnish to it a list, as of the most recent practicable date, of the names, addresses and holdings of Depositary Shares of all record holders of Receipts. 

ARTICLE V 
 THE
DEPOSITARY, THE DEPOSITARY’S 
 AGENTS, THE
REGISTRAR AND THE COMPANY 
  

	 	Section 5.1.	 Maintenance of Offices, Agencies and Transfer Books by the Depositary; Registrar.

 Upon execution of this Deposit Agreement, the Depositary shall maintain at the Depositary’s
Office, facilities for the execution and delivery, registration and registration of transfer, surrender and exchange of Receipts, and at the offices of the Depositary’s Agents, if any, facilities for the delivery, registration of transfer,
surrender and exchange of Receipts, all in accordance with the provisions of this Deposit Agreement. 
 The Depositary shall
keep books at the Depositary’s Office for the registration and registration of transfer, surrender and exchange of Receipts, which books at all reasonable times shall be open for inspection by the record holders of Receipts; provided that any
such holder requesting to exercise such right shall certify to the Depositary that such inspection shall be for a proper purpose reasonably related to such person’s interest as an owner of Depositary Shares evidenced by the Receipts. 

The Depositary may close such books, at any time or from time to time, when deemed expedient by it in connection with the
performance of its duties hereunder. 
 The Depositary may, with the approval of the Company, appoint a Registrar for
registration of the Receipts or the Depositary Shares evidenced thereby. If the Receipts or the Depositary Shares evidenced thereby or the Series Y Preferred Stock represented by such Depositary Shares shall be listed on one or more national
stock exchanges, the Depositary will appoint a Registrar (acceptable to the Company) for registration of such Receipts or Depositary 

  
 14 

 
Shares in accordance with any requirements of such exchange. Such Registrar (which may be the Depositary if so permitted by the requirements of any such exchange) may be removed and a substitute
Registrar appointed by the Depositary upon the request or with the approval of the Company. If the Receipts, such Depositary Shares or such Series Y Preferred Stock are listed on one or more other stock exchanges, the Depositary will, at the
request of the Company, arrange such facilities for the delivery, registration, registration of transfer, surrender and exchange of such Receipts, such Depositary Shares or such Series Y Preferred Stock as may be required by law or applicable
stock exchange regulation. 
  

	 	Section 5.2.	 Prevention of or Delay in Performance by the Depositary, the Depositary’s Agents, the Registrar or the
Company. 

 Neither the Depositary nor any Depositary’s Agent nor any Registrar nor the Company
shall incur any liability to any holder of any Receipt if by reason of any provision of any present or future law, or regulation thereunder, of the United States of America or of any other governmental authority or, in the case of the Depositary,
the Depositary’s Agent or the Registrar, by reason of any provision, present or future, of the Company’s Restated Certificate of Incorporation (including the Certificate of Designation), or by reason of any act of God or war or other
circumstance beyond the control of the relevant party, the Depositary, the Depositary’s Agent, the Registrar or the Company shall be prevented or forbidden from, or subjected to any penalty on account of, doing or performing any act or thing
which the terms of this Deposit Agreement provide shall be done or performed; nor shall the Depositary, any Depositary’s Agent, any Registrar or the Company incur liability to any holder of a Receipt (i) by reason of any nonperformance or
delay, caused as aforesaid, in the performance of any act or thing which the terms of this Deposit Agreement shall provide shall or may be done or performed, or (ii) by reason of any exercise of, or failure to exercise, any discretion provided
for in this Deposit Agreement except as otherwise explicitly set forth in this Deposit Agreement. 
  

	 	Section 5.3.	 Obligations of the Depositary, the Depositary’s Agents, the Registrar and the Company.

 Neither the Depositary nor any Depositary’s Agent nor any Registrar nor the Company assumes any
obligation or shall be subject to any liability under this Deposit Agreement to holders of Receipts other than for its gross negligence or willful misconduct. Notwithstanding anything in this Deposit Agreement to the contrary, neither the
Depositary, nor the Depositary’s Agent nor any Registrar nor the Company shall be liable in any event for special, punitive, incidental, indirect or consequential losses or damages of any kind whatsoever (including but not limited to lost
profits). 
 Neither the Depositary nor any Depositary’s Agent nor any Registrar nor the Company shall be under, any
obligation to appear in, prosecute or defend any action, suit or other proceeding in respect of the Series Y Preferred Stock, the Depositary Shares or the Receipts which in its opinion may involve it in expense or liability unless indemnity
satisfactory to it against all expense and liability be furnished as often as may be required. 
 Neither the Depositary nor
any Depositary’s Agent nor any Registrar nor the Company shall be liable for any action or any failure to act by it in reliance upon the advice of legal 

  
 15 

 
counsel or accountants, or information from any person presenting Series Y Preferred Stock for deposit, any holder of a Receipt or any other person believed by it in good faith to be
competent to give such information. The Depositary, any Depositary’s Agent, any Registrar and the Company may each rely and shall each be protected in acting upon or omitting to act upon any written notice, request, direction or other document
believed by it to be genuine and to have been signed or presented by the proper party or parties. 
 The Depositary will
indemnify the Company against any liability which may directly arise out of acts performed or omitted by the Depositary due to its gross negligence or willful misconduct, however, in no event shall the Depositary be liable for consequential, special
or indirect damages of any kind regardless of whether the Depositary is put on notice of the possibility of such damages. The Depositary shall not be liable for the acts or omissions due to the gross negligence or willful misconduct of any
Depositary’s Agent, so long as such Depositary’s Agent was appointed with due care. 
 The Depositary shall not be
responsible for any failure to carry out any instruction to vote any of the shares of Series Y Preferred Stock or for the manner or effect of any such vote made, as long as any such action or non-action is not taken in bad faith. The Depositary
undertakes, and any Registrar shall be required to undertake, to perform such duties and only such duties as are specifically set forth in this Deposit Agreement, and no implied covenants or obligations shall be read into this Deposit Agreement
against the Depositary or any Registrar. 
 The Depositary, the Depositary’s Agents, and any Registrar may own and deal
in any class of securities of the Company and its affiliates and in Receipts. The Depositary may also act as transfer agent or registrar of any of the securities of the Company and its affiliates. 

The Depositary shall not be under any liability for interest on any monies at any time received by it pursuant to any of the
provisions of this Deposit Agreement or of the Receipts, the Depositary Shares or the Series Y Preferred Stock nor shall it be obligated to segregate such monies from other monies held by it, except as required by law. The Depositary shall not
be responsible for advancing funds on behalf of the Company and shall have no duty or obligation to make any payments if it has not timely received sufficient funds to make timely payments. 

In the event the Depositary believes any ambiguity or uncertainty exists hereunder or in any notice, instruction, direction,
request or other communication, paper or document received by the Depositary hereunder, or in the administration of any of the provisions of this Deposit Agreement, the Depositary shall deem it necessary or desirable that a matter be proved or
established prior to taking, omitting or suffering to take any action hereunder, the Depositary may, in its sole discretion upon written notice to the Company, refrain from taking any action and shall be fully protected and shall not be liable in
any way to the Company, any holders of Receipts or any other person or entity for refraining from taking such action, unless the Depositary receives written instructions or a certificate signed by the Company which eliminates such ambiguity or
uncertainty to the satisfaction of the Depositary or which proves or establishes the applicable matter to the satisfaction of the Depositary. The Depositary shall not be liable to the Company, any holder of Receipts, or any action taken by it in
accordance with the written instruction of the Company or the holders of Receipts. 

  
 16 

	 	Section 5.4.	 Resignation and Removal of the Depositary; Appointment of Successor Depositary. 

The Depositary may at any time resign as Depositary hereunder by delivering notice of its election to do so to the Company,
such resignation to take effect upon the appointment of a successor Depositary and its acceptance of such appointment as hereinafter provided. 

The Depositary may at any time be removed by the Company by notice of such removal delivered to the Depositary, such removal
to take effect upon the appointment of a successor Depositary hereunder and its acceptance of such appointment as hereinafter provided. 

In case at any time the Depositary acting hereunder shall resign or be removed, the Company shall, within 60 days after
the delivery of the notice of resignation or removal, as the case may be, appoint a successor Depositary, which shall be a bank or trust company having its principal office in the United States of America and having a combined capital and surplus of
at least $50,000,000. If no successor Depositary shall have been so appointed and have accepted appointment within 60 days after delivery of such notice, the resigning or removed Depositary may petition any court of competent jurisdiction for
the appointment of a successor Depositary. Every successor Depositary shall execute and deliver to its predecessor and to the Company an instrument in writing accepting its appointment hereunder, and thereupon such successor Depositary, without any
further act or deed, shall become fully vested with all the rights, powers, duties and obligations of its predecessor and for all purposes shall be the Depositary under this Deposit Agreement, and such predecessor, upon payment of all sums due it
and on the written request of the Company, shall promptly execute and deliver an instrument transferring to such successor all rights and powers of such predecessor hereunder, shall duly assign, transfer and deliver all right, title and interest in
the Series Y Preferred Stock and any moneys or property held hereunder to such successor, and shall deliver to such successor a list of the record holders of all outstanding Receipts and such records, books and other information in its
possession relating thereto. Any successor Depositary shall promptly mail notice of its appointment to the record holders of Receipts. 

Any entity into or with which the Depositary may be merged, consolidated or converted shall be the successor of such
Depositary without the execution or filing of any document or any further act, and notice thereof shall not be required hereunder. Such successor Depositary may authenticate the Receipts in the name of the predecessor Depositary or in the name of
the successor Depositary. 
  

	 	Section 5.5.	Corporate Notices and Reports. 

 The Company agrees that it will deliver
to the Depositary, and the Depositary will, promptly after receipt thereof, transmit to the record holders of Receipts, in each case at the addresses recorded in the Depositary’s books, copies of all notices and reports (including without
limitation financial statements) required by law, by the rules of any national securities exchange upon which the Series Y Preferred Stock, the Depositary Shares or the Receipts are listed or by the Company’s Restated Certificate of
Incorporation, as amended (including the Certificate of Designation), to be furnished to the record holders of Receipts. Such transmission will be at the Company’s expense and the Company will provide the Depositary with such number of copies
of 

  
 17 

 
such documents as the Depositary may reasonably request. In addition, the Depositary will transmit to the record holders of Receipts at the Company’s expense such other documents as may be
requested by the Company. Unless otherwise required by law, the requirements set forth in this Section 5.5 may be satisfied by publicly filing or furnishing such information with or to the U.S. Securities and Exchange Commission. 

 

	 	Section 5.6.	Indemnification by the Company. 

 Notwithstanding Section 5.3 to
the contrary, the Company shall indemnify the Depositary, any Depositary’s Agent and any Registrar (including each of their officers, directors, agents and employees) against, and hold each of them harmless from, any loss, damage, cost,
penalty, liability or expense (including the reasonable costs and expenses of defending itself) which may arise out of acts performed, suffered or omitted to be taken in connection with this Deposit Agreement and the Receipts by the Depositary, any
Registrar or any of their respective agents (including any Depositary’s Agent) and any transactions or documents contemplated hereby, except for any liability arising out of gross negligence or willful misconduct on the respective parts of any
such person or persons. The obligations of the Company set forth in this Section 5.6 shall survive any succession of any Depositary, Registrar or Depositary’s Agent. 

 

	 	Section 5.7.	Fees, Charges and Expenses. 

 The Company agrees promptly to pay the
Depositary the compensation to be agreed upon with the Company for all services rendered by the Depositary hereunder and to reimburse the Depositary for its reasonable out-of-pocket expenses (including reasonable counsel fees and expenses) incurred
by the Depositary without gross negligence or willful misconduct on its part (or on the part of any Depositary’s Agent) in connection with the services rendered by it (or such Depositary’s Agent) hereunder. The Company shall pay all
charges of the Depositary in connection with the initial deposit of the Series Y Preferred Stock and the initial issuance of the Depositary Shares, all withdrawals of shares of the Series Y Preferred Stock by owners of Depositary Shares,
and any redemption or exchange of the Series Y Preferred Stock at the option of the Company. The Company shall pay all transfer and other taxes and governmental charges arising solely from the existence of the depositary arrangements. All other
transfer and other taxes and governmental charges shall be at the expense of holders of Depositary Shares evidenced by Receipts. If, at the request of a holder of Receipts, the Depositary incurs charges or expenses for which the Company is not
otherwise liable hereunder, such holder will be liable for such charges and expenses; provided, however, that the Depositary may, at its sole option, require a holder of a Receipt to prepay the Depositary any charge or expense the Depositary has
been asked to incur at the request of such holder of Receipts. The Depositary shall present its statement for charges and expenses to the Company at such intervals as the Company and the Depositary may agree. 

  
 18 

 ARTICLE VI 

AMENDMENT AND TERMINATION 

 

	 	Section 6.1.	Amendment. 

 The form of the Receipts and any provisions of this Deposit
Agreement may at any time and from time to time be amended by agreement between the Company and the Depositary in any respect which they may deem necessary or desirable; provided, however, that no such amendment which shall materially and adversely
alter the rights of the holders of Receipts shall be effective unless such amendment shall have been approved by the holders of at least a majority (or, in the case of such amendments relating to or affecting rights to receive dividends or
distributions or voting or redemption rights, two-thirds of the holders) of the Depositary Shares then outstanding. Every holder of an outstanding Receipt at the time any such amendment becomes effective shall be deemed, by continuing to hold such
Receipt, to consent and agree to such amendment and to be bound by the Deposit Agreement as amended thereby. In no event shall any amendment impair the right, subject to the provisions of Sections 2.5 and 2.6 and Article III, of any owner
of Depositary Shares to surrender any Receipt evidencing such Depositary Shares to the Depositary with instructions to deliver to the holder the Series Y Preferred Stock and all money and other property, if any, represented thereby, except in
order to comply with mandatory provisions of applicable law or the rules and regulations of any governmental body, agency or commission, or applicable stock exchange. 
  

	 	Section 6.2.	Termination. 

 This Deposit Agreement may be terminated by the Company
or the Depositary only if (i) all outstanding Depositary Shares have been redeemed pursuant to Section 2.8 or (ii) there shall have been made a final distribution in respect of the Series Y Preferred Stock in connection with any
liquidation, dissolution or winding up of the Company and such distribution shall have been distributed to the holders of Depositary Shares pursuant to Section 4.1 or 4.2, as applicable. 

Upon the termination of this Deposit Agreement, the Company shall be discharged from all obligations under this Deposit
Agreement except for its obligations to the Depositary, any Depositary’s Agent and any Registrar under Sections 5.6 and 5.7. 
 ARTICLE
VII 
 MISCELLANEOUS 
  

	 	Section 7.1.	Counterparts. 

 This Deposit Agreement may be executed in any number of
counterparts, and by each of the parties hereto on separate counterparts, each of which counterparts, when so executed and delivered, shall be deemed an original, but all such counterparts taken together shall constitute one and the same instrument.
Delivery of an executed counterpart of a signature page to this Deposit Agreement by facsimile or electronic mail shall be effective as delivery of a manually executed counterpart of this Deposit Agreement. 

  
 19 

	 	Section 7.2.	Exclusive Benefit of Parties. 

 This Deposit Agreement is for the
exclusive benefit of the parties hereto, and their respective successors hereunder, and shall not be deemed to give any legal or equitable right, remedy or claim to any other person whatsoever. 

 

	 	Section 7.3.	Invalidity of Provisions. 

 In case any one or more of the provisions
contained in this Deposit Agreement or in the Receipts should be or become invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein or therein shall in no way be
affected, prejudiced or disturbed thereby. 
  

	 	Section 7.4.	Notices. 

 Any and all notices to be given to the Company hereunder or
under the Receipts shall be in writing and shall be deemed to have been duly given if personally delivered or sent by mail, or by telegram, facsimile transmission or electronic mail confirmed by letter, addressed to the Company at 

Wells Fargo & Company 

Attention: Treasury Global Funding 

MAC N9310-060 

550 South 4th Street 

Minneapolis, MN 55415 

or at any other addresses of which the Company shall have notified the Depositary in writing. 

Any and all notices to be given to the Depositary hereunder or under the Receipts shall be in writing and shall be deemed to
have been duly given if personally delivered or sent by mail, or by facsimile transmission confirmed by letter, addressed to the Depositary at the Depositary’s Office at 

Wells Fargo Bank, N.A. 

1110 Centre Pointe Curve, Suite 101 

Mendota Heights, MN 55120-4100 

Attention: Relationship Manager 

Facsimile No.: 651-450-4078 

or at any other address of which the Depositary shall have notified the Company in writing. 

Any and all notices to be given to any record holder of a Receipt hereunder or under the Receipts shall be in writing and
shall be deemed to have been duly given if personally delivered or sent by mail or facsimile transmission confirmed by letter, addressed to such record holder at the address of such record holder as it appears on the books of the Depositary, or if
such holder shall have timely filed with the Depositary a written request that notices intended for such holder be mailed to some other address, at the address designated in such request. 

  
 20 

 Delivery of a notice sent by mail or by facsimile transmission shall be deemed to
be effected at the time when a duly addressed letter containing the same (or a confirmation thereof in the case of a facsimile transmission) is deposited, postage prepaid, in a post office letter box. The Depositary or the Company may, however, act
upon any facsimile transmission received by it from the other or from any holder of a Receipt, notwithstanding that such facsimile transmission shall not subsequently be confirmed by letter or as aforesaid. 

 

	 	Section 7.5.	Depositary’s Agents. 

 The Depositary may from time to time appoint
Depositary’s Agents to act in any respect for the Depositary for the purposes of this Deposit Agreement and may at any time appoint additional Depositary’s Agents and vary or terminate the appointment of such Depositary’s Agents. The
Depositary will promptly notify the Company of any such action. 
  

	 	Section 7.6.	 Appointment of Registrar and Transfer Agent in Respect of the Receipts. 

The Company hereby appoints the Depositary as Registrar and Transfer Agent in respect of the Receipts and the Depositary
hereby accepts such appointments. 
  

	 	Section 7.7.	Holders of Receipts Are Parties. 

 The holders of Receipts from time to
time shall be parties to this Deposit Agreement and shall be bound by all of the terms and conditions hereof and of the Receipts by acceptance of delivery thereof. 
  

	 	Section 7.8.	Governing Law. 

 This Deposit Agreement and the Receipts and all rights
hereunder and thereunder and provisions hereof and thereof shall be governed by, and construed in accordance with, the laws of the State of Minnesota. 
  

	 	Section 7.9.	Inspection of Deposit Agreement. 

 Copies of this Deposit Agreement
shall be filed with the Depositary and, to the extent determined by the Depositary, with the Depositary’s Agents, and shall be open to inspection during business hours at the Depositary’s Office and the respective offices of such
Depositary’s Agents, if any, by any holder of a Receipt. 
  

	 	Section 7.10.	Headings. 

 The headings of articles and sections in this Deposit
Agreement and in the form of the Receipt set forth in Exhibit A hereto have been inserted for convenience only and are not to be regarded as a part of this Deposit Agreement or the Receipts or to have any bearing upon the meaning or
interpretation of any provision contained herein or in the Receipts. 

  
 21 

 IN WITNESS WHEREOF, the Company and the Depositary have duly executed this Deposit Agreement as
of the day and year first above set forth, and all holders of Receipts shall become parties hereto by and upon acceptance by them of delivery of Receipts issued in accordance with the terms hereof. 

 

					
	WELLS FARGO & COMPANY
		
	By:	 	/s/ Barbara S. Brett
		 	Name:	 	Barbara S. Brett
		 	Title:	 	Senior Vice President and Assistant Treasurer
	
	WELLS FARGO BANK, N.A.
		
	By:	 	/s/ Andrea Severson
		 	Name:	 	Andrea Severson
		 	Title:	 	Assistant Vice President – Client Services

  
 22 

 EXHIBIT A 

[FORM OF FACE OF RECEIPT] 

UNLESS THIS RECEIPT IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO
WELLS FARGO & COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC
(AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE
REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 DEPOSITARY SHARES 

27,600,000 
 DEPOSITARY RECEIPT
FOR DEPOSITARY SHARES EACH 
 REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF NON-CUMULATIVE 

PERPETUAL CLASS A PREFERRED STOCK, SERIES Y 

OF 
 Wells Fargo &
Company 
 INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE 

CUSIP 94988U 656 
 SEE REVERSE
FOR CERTAIN DEFINITIONS 
 Wells Fargo Bank, N.A., a national banking association formed under the laws of the United
States, as Depositary (the “Depositary”), hereby certifies that Cede & Co. is the registered owner of 27,600,000 DEPOSITARY SHARES (“Depositary Shares”), each Depositary Share representing a 1/1,000th interest in a share
of Non-Cumulative Perpetual Class A Preferred Stock, Series Y, no par value, with a liquidation preference amount of $25,000 per share (the “Series Y Preferred Stock”), of Wells Fargo & Company, a Delaware
corporation (the “Company”), on deposit with the Depositary, subject to the terms and entitled to the benefits of the Deposit Agreement dated as of April 24, 2017 (the “Deposit Agreement”), among the Company, the Depositary
and the holders from time to time of the Depositary Receipts. By accepting this Depositary Receipt, the holder hereof becomes a party to and agrees to be bound by all the terms and conditions of the Deposit Agreement. This Depositary Receipt shall
not be valid or obligatory for any purpose or entitled to any benefits under the Deposit Agreement unless it shall have been executed by the Depositary by the manual signature of a duly authorized officer or, if executed in facsimile by the
Depositary, countersigned by a Registrar in respect of the Depositary Receipts by the manual signature of a duly authorized officer thereof. 

  
 A-1 

 This Depositary Receipt is transferable in New York, New York and Mendota
Heights, Minnesota. 
  

							
	Dated:	 	 
	
	Wells Fargo Bank, N.A., Depositary
		
	By:	 	 
		 	Authorized Officer

  
 A-2 

 [FORM OF REVERSE OF RECEIPT] 

WELLS FARGO & COMPANY 

WELLS FARGO & COMPANY WILL FURNISH WITHOUT CHARGE TO EACH HOLDER OF RECEIPT WHO SO REQUESTS A COPY OF THE DEPOSIT
AGREEMENT AND A COPY OR SUMMARY OF THE CERTIFICATE OF DESIGNATION ESTABLISHING THE NON-CUMULATIVE PERPETUAL CLASS A PREFERRED STOCK, SERIES Y, OF WELLS FARGO & COMPANY ANY SUCH REQUEST IS TO BE ADDRESSED TO THE DEPOSITARY NAMED ON
THE FACE OF THIS RECEIPT. 
  
  

The Company will furnish without charge to each holder of receipt who so requests the powers, designations, preferences and
relative, participating, optional or other special rights of each class of stock or series thereof of the Company, and the qualifications, limitations or restrictions of such preferences and/or rights. Such request may be made to the Company or to
the Registrar. 
 EXPLANATION OF ABBREVIATIONS 

The following abbreviations when used in the form of ownership on the face of this certificate shall be construed as though
they were written out in full according to applicable laws or regulations. Abbreviations in addition to those appearing below may be used. 
  

							
	Abbreviation	  	Equivalent Phrase	  	Abbreviation	  	Equivalent Phrase
	JT TEN	  	As joint tenants, with right of survivorship and not as tenants in common	  	TEN BY ENT	  	As tenants by the entireties
	TEN IN COM	  	As tenants in common	  	UNIF GIFT MIN ACT	  	Uniform Gifts to Minors Act

  

											
	Abbreviation	  	Equivalent Word	 	Abbreviation	  	Equivalent Word	 	Abbreviation	  	Equivalent Word
	 ADM
	  	 Administrator(s),
Administratrix
	 	 EX
	  	 Executor(s),

Executrix
	 	 PAR
	  	
Paragraph

	 AGMT
	  	 Agreement
	 	 FBO
	  	 For the benefit
of
	 	 PL
	  	
Public Law

	 ART
	  	 Article
	 	 FDN
	  	 Foundation
	 	 TR
	  	
(As) trustee(s), for, of

	 CH
	  	 Chapter
	 	 GDN
	  	 Guardian(s)
	 	 U
	  	
Under

	 CUST
	  	 Custodian
for
	 	 GDNSHP
	  	 Guardianship
	 	 UA
	  	
Under agreement

	 DEC
	  	 Declaration
	 	 MIN
	  	 Minor(s)
	 	 UW
	  	
Under will of, Of will of, Under last will & testament

	 EST
	  	 Estate, of Estate
of
	 	 	  	 	 	 	  	 

  
 A-3 

 For value received,
                             hereby sell(s), assign(s) and transfer(s) unto 

 
  

PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE 

PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS INCLUDING POSTAL ZIP CODE OF ASSIGNEE 

Depositary Shares represented by the within Receipt, and do(es) hereby irrevocably constitute and appoint
                                         
                                Attorney to transfer the said Depositary Shares on the
books of the within named Depositary with full power of substitution in the premises. 
 Dated:
                                         
            
  

							
		 		 		 	 NOTICE: The signature to the assignment must correspond with the name as written upon the face of this Receipt in every
particular, without alteration or enlargement or any change whatsoever.

 SIGNATURE GUARANTEED 

NOTICE: The signature(s) should be guaranteed by an eligible guarantor institution (banks, stockbrokers, savings and loan associations, and
credit unions with membership in an approved signature guarantee medallion program), pursuant to Rule 17Ad-15 under the Securities Exchange Act of 1934. 

  
 A-4 

 EXHIBIT B 

[Certificate of Designation attached] 

  
 B-1 

 WELLS FARGO & COMPANY 

 
  

CERTIFICATE OF DESIGNATION 

Pursuant to Section 151(g) of the 

General Corporation Law 
 of the
State of Delaware 
  
  

NON-CUMULATIVE PERPETUAL CLASS A PREFERRED STOCK, SERIES Y 

(Without Par Value) 
  

 

WELLS FARGO & COMPANY, a corporation organized and existing under the laws of the State of Delaware (the
“Corporation”), HEREBY CERTIFIES that, pursuant to authority conferred upon the Board of Directors of the Corporation (the “Board of Directors”) by the provisions of the Restated Certificate of Incorporation of the
Corporation, as amended, which authorize the issuance of not more than 20,000,000 shares of Preferred Stock, without par value, and pursuant to authority conferred upon the Securities Committee of the Board of Directors (the
“Committee”) in accordance with Section 141(c) of the General Corporation Law of the State of Delaware (the “General Corporation Law”), the following resolutions were duly adopted by the Committee pursuant to
the unanimous written consent of the Committee duly adopted on April 21, 2017, in accordance with Section 141(f) of the General Corporation Law: 

RESOLVED, that pursuant to the authority vested in the Committee and in accordance with the resolutions
of the Board of Directors dated October 25, 2016, the provisions of the Restated Certificate of Incorporation, the By-laws of the Corporation, and applicable law, a series of Preferred Stock, no par value, of the Corporation be and hereby is
created, and that the designation and number of shares of such series, and the voting and other powers, designations, preferences and relative, participating, optional or other rights, and the qualifications, limitations and restrictions thereof, of
the shares of such series, are as follows: 
 RIGHTS AND PREFERENCES 

Section 1.      Designation. The shares of such series of Preferred Stock shall
be designated Non-Cumulative Perpetual Class A Preferred Stock, Series Y, with no par value and a liquidation preference amount of $25,000 per share (the “Series Y Preferred Stock”). Each share of Series Y
Preferred Stock shall be identical in all respects to every other share of Series Y Preferred Stock except with respect to the date from which dividends may accrue. Series Y Preferred Stock will rank equally with Parity Stock with respect
to the payment of dividends and distribution of assets in the event of any voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Corporation and will rank senior to Junior Stock with respect to the payment of
dividends and/or the distribution of assets in the event of any voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Corporation. 

Section 2.      Number of Shares. The number of authorized shares of
Series Y Preferred Stock shall be 27,600. Such number may from time to time be increased (but not in 

  
 1 

 
excess of the total number of authorized shares of Preferred Stock) or decreased (but not below the number of shares of Series Y Preferred Stock then outstanding) by further resolution duly
adopted by the Board of Directors of the Corporation or any duly authorized committee of the Board of Directors of the Corporation and by the filing of a certificate pursuant to the provisions of the General Corporation Law stating that such
increase or decrease, as the case may be, has been so authorized. The Corporation shall have the authority to issue fractional shares of Series Y Preferred Stock. 

Section 3.      Definitions. As used herein with respect to Series Y
Preferred Stock: 
 “Business Day” means any day, other than a Saturday or Sunday, that is neither a legal
holiday nor a day on which banking institutions are authorized or required by law or regulation to close in New York, New York. 

“Certificate of Designation” means this Certificate of Designation relating to the Series Y Preferred
Stock, as it may be amended from time to time. 
 “Common Stock” means the common stock of the Corporation,
par value $1 2⁄3 per share, as the same exists at the date of this Certificate of Designation or as such stock may be constituted from time to time. 

“Depositary Company” has the meaning set forth in Section 6(d) hereof. 

“Dividend Payment Date” has the meaning set forth in Section 4(a) hereof. 

“Dividend Period” has the meaning set forth in Section 4(a) hereof. 

“DTC” means The Depository Trust Company, together with its successors and assigns. 

“Junior Stock” means the Common Stock and any other class or series of stock of the Corporation now existing
or hereafter authorized over which the Series Y Preferred Stock has preference or priority in the payment of dividends or in the distribution of assets on any voluntary or involuntary liquidation, dissolution or winding up of the affairs of the
Corporation. 
 “Liquidation Preference” has the meaning set forth in Section 5(a) hereof. 

“Nonpayment Event” shall have the meaning set forth in Section 7(b). 

“Parity Stock” means any other class or series of stock of the Corporation now existing or hereafter
authorized that ranks on par with the Series Y Preferred Stock in the payment of dividends (whether such dividends are cumulative or non-cumulative) or in the distribution of assets in the event of any voluntary or involuntary liquidation,
dissolution or winding up of the affairs of the Corporation. 

  
 2 

 “Preference Stock” means any and all series of preference stock,
having no par value, of the Corporation. 
 “Preferred Stock” means any and all series of preferred stock,
having no par value, of the Corporation, including the Series Y Preferred Stock. 
 “Preferred Stock
Directors” shall have the meaning set forth in Section 7(b). 
 “Regulatory Capital Treatment
Event” means the Corporation’s reasonable determination that as a result of any (i) amendment to, clarification of, or change (including any announced prospective change) in, the laws or regulations of the United States or any
political subdivision of or in the United States that is enacted or becomes effective on or after April 17, 2017; (ii) proposed change in those laws or regulations that is announced or becomes effective on or after April 17, 2017; or
(iii) official administrative decision or judicial decision or administrative action or other official pronouncement interpreting or applying those laws or regulations that is announced on or after April 17, 2017, there is more than an
insubstantial risk that the Corporation will not be entitled to treat the full liquidation preference amount of all shares of Series Y Preferred Stock then outstanding as Tier 1 capital (or its equivalent) for purposes of the capital
adequacy guidelines or regulations of the appropriate federal banking agency, as then in effect and applicable, for as long as any share of Series Y Preferred Stock is outstanding. 

“Series Y Preferred Stock” has the meaning set forth in Section 1 hereof. 

“Voting Parity Stock” means any Parity Stock having similar voting rights as the Series Y Preferred
Stock. 
 Section 4.      Dividends.  

(a)      Rate. Dividends on the Series Y Preferred Stock will not be mandatory.
Holders of Series Y Preferred Stock shall be entitled to receive, when, as and if declared by the Board of Directors of the Corporation or any duly authorized committee of the Board of Directors of the Corporation, but only out of assets
legally available therefor, non-cumulative cash dividends on the liquidation preference amount of $25,000 per share of the Series Y Preferred Stock, payable quarterly in arrears on the 15th day of March, June, September and December of each
year (commencing on June 15, 2017); provided, however, if any such day is not a Business Day, then payment of any dividend otherwise payable on that date will be made on the next succeeding day that is a Business Day, without any
interest or other payment in respect of such delay (each such day on which dividends are payable a “Dividend Payment Date”). A “Dividend Period” means the period from, and including, a Dividend Payment Date to,
but excluding, the next succeeding Dividend Payment Date, except for the initial Dividend Period, which will be the period from, and including, April 24, 2017 to, but excluding, June 15, 2017. Dividends on each share of Series Y
Preferred Stock will accrue at a rate per annum equal to 5.625%. The record date for payment of dividends on the Series Y Preferred Stock shall be the last Business Day of the calendar month immediately preceding the month during which
the Dividend Payment Date falls or such other date as determined by the Corporation’s Board of Directors. The amount of dividends payable shall be computed on the basis of a 360-day year of twelve 30-day
months. 

  
 3 

 
Dollar amounts resulting from that calculation will be rounded to the nearest cent, with one-half cent being rounded upward. 

(b)      Non-Cumulative Dividends. Dividends on shares of Series Y Preferred
Stock shall be non-cumulative. To the extent that any dividends payable on the shares of Series Y Preferred Stock on any Dividend Payment Date are not declared prior to such Dividend Payment Date, then such dividends shall not cumulate and
shall cease to accrue and be payable, and the Corporation shall have no obligation to pay, and the holders of Series Y Preferred Stock shall have no right to receive, dividends accrued for such Dividend Period on the Dividend Payment Date for
such Dividend Period or at any time in the future or interest with respect to such dividends, whether or not dividends are declared for any subsequent Dividend Period with respect to Series Y Preferred Stock or any other series of authorized
Preferred Stock, Preference Stock, or Common Stock of the Corporation. 
 (c)      Priority
of Dividends. So long as any shares of Series Y Preferred Stock remain outstanding, 
 (1) no dividend shall
be declared and paid or set aside for payment and no distribution shall be declared and made or set aside for payment on any Common Stock, and no shares of Common Stock shall be repurchased, redeemed or otherwise acquired for consideration by the
Corporation, directly or indirectly, nor shall any monies be paid to or made available for a sinking fund for the redemption of any such Common Stock by the Corporation (other than (i) a dividend payable in Common Stock or (ii) the
acquisition of shares of Common Stock in exchange for, or through application of proceeds of the sale of, shares of Common Stock); 

(2) no dividend shall be declared and paid or set aside for payment and no distribution shall be declared and made or set
aside for payment on any Junior Stock other than Common Stock, and no shares of Junior Stock other than Common Stock shall be repurchased, redeemed or otherwise acquired for consideration by the Corporation, directly or indirectly, nor shall any
monies be paid to or made available for a sinking fund for the redemption of any such Junior Stock other than Common Stock by the Corporation (other than (i) a dividend payable solely in shares of Junior Stock, (ii) any dividend in
connection with the implementation of a stockholder rights plan, or the redemption or repurchase of any rights under any such plan, (iii) any dividend in the form of stock, warrants, options or other rights where the dividend stock or stock
issuable upon exercise of such warrants, options or other rights is the same stock as that on which the dividend is being paid or ranks equally with or junior to such stock, (iv) as a result of a reclassification of Junior Stock other than
Common Stock for or into other Junior Stock, (v) the exchange or conversion of one share of Junior Stock other than Common Stock for or into another share of Junior Stock, (vi) through the use of proceeds of a substantially contemporaneous
sale of other shares of Junior Stock, (vii) any purchase, redemption or other acquisition of Junior Stock other than Common Stock pursuant to any of the Corporation’s or any of its subsidiaries’ employee, consultant or director
incentive or benefit plans or arrangements (including any employment, severance or consulting arrangements) adopted before or after April 17, 2017, (viii) any purchase of fractional interests in shares of Junior Stock other than Common
Stock pursuant to the conversion or exchange provisions of such Junior Stock other than Common Stock or the securities being converted or exchanged, (ix) the purchase of Junior Stock other than Common Stock by Wells Fargo Securities, LLC, or
any other affiliate of 

  
 4 

 
the Corporation, in connection with the distribution thereof or (x) the purchase of Junior Stock other than Common Stock by Wells Fargo Securities, LLC, or any other affiliate of the
Corporation, in connection with market-making or other secondary market activities in the ordinary course of business); and 

(3) no shares of Parity Stock will be repurchased, redeemed or otherwise acquired for consideration by the Corporation
otherwise than pursuant to pro rata offers to purchase all, or a pro rata portion, of the Series Y Preferred Stock and such Parity Stock during a Dividend Period (other than (i) as a result of a reclassification of Parity
Stock for or into other Parity Stock or Junior Stock, (ii) the exchange or conversion of one share of Parity Stock for or into another share of Parity Stock or Junior Stock, (iii) through the use of proceeds of a substantially
contemporaneous sale of other shares of Parity Stock or Junior Stock, (iv) any purchase, redemption or other acquisition of Parity Stock pursuant to any of the Corporation’s or any of its subsidiaries’ employee, consultant or director
incentive or benefit plans or arrangements (including any employment, severance or consulting arrangements) adopted before or after April 17, 2017, (v) any purchase of fractional interests in shares of Parity Stock pursuant to the
conversion or exchange provisions of such Parity Stock or the securities being converted or exchanged, (vi) the purchase of Parity Stock by Wells Fargo Securities, LLC, or any other affiliate of the Corporation, in connection with the
distribution thereof or (vii) the purchase of Parity Stock by Wells Fargo Securities, LLC, or any other affiliate of the Corporation, in connection with market-making or other secondary market activities in the ordinary course of business),

 unless, in each case, the full dividends for the then-current Dividend Period on all outstanding shares of the Series Y Preferred
Stock have been declared and paid or declared and a sum sufficient for the payment of those dividends has been set aside. 

Subject to the succeeding sentence, for so long as any shares of Series Y Preferred Stock remain outstanding, no
dividends shall be declared, paid, or set aside for payment on any Parity Stock for any period unless full dividends on all outstanding shares of Series Y Preferred Stock for the then-current Dividend Period have been paid in full or declared
and a sum sufficient for the payment thereof set aside. To the extent the Corporation declares dividends on the Series Y Preferred Stock and on any Parity Stock but cannot make full payment of those declared dividends, the Corporation will
allocate the dividend payments on a proportional basis among the holders of shares of Series Y Preferred Stock and the holders of any Parity Stock then outstanding where the terms of such Parity Stock provide similar dividend rights. 

Subject to the foregoing, and not otherwise, such dividends (payable in cash, stock or otherwise) as may be determined by the Board of
Directors of the Corporation or any duly authorized committee of the Board of Directors of the Corporation may be declared and paid on the Common Stock and any other stock that is Parity Stock or Junior Stock, from time to time out of any assets
legally available for such payment, and the shares of Series Y Preferred Stock shall not be entitled to participate in any such dividends. 

  
 5 

 Section 5.      Liquidation Rights.

 (a)      Liquidation. In the event of any voluntary or involuntary liquidation,
dissolution or winding up of the affairs of the Corporation, holders of Series Y Preferred Stock shall be entitled to receive in full out of assets available for distribution to its stockholders before any distribution or payment out of the
assets of the Corporation may be made to or set aside for the holders of the Common Stock or any other Junior Stock, and subject to the rights of the holders of Parity Stock or any stock of the Corporation ranking senior to the Series Y
Preferred Stock as to such distribution, a liquidating distribution in the amount of $25,000 per share, plus an amount equal to any dividends which have been declared but not yet paid, without accumulation of any undeclared dividends, to the date of
liquidation (the “Liquidation Preference”). The holders of Series Y Preferred Stock shall not be entitled to any further payments in the event of any such voluntary or involuntary liquidation, dissolution or winding up of the
affairs of the Corporation other than what is expressly provided for in this Section 5. 

(b)      Partial Payment. If the assets of the Corporation are not sufficient to pay
in full the Liquidation Preference to all holders of Series Y Preferred Stock and all holders of any Parity Stock, the amounts paid to the holders of Series Y Preferred Stock and to the holders of all Parity Stock shall be pro rata
in accordance with the respective aggregate liquidation preference of Series Y Preferred Stock and all such Parity Stock. 

(c)      Residual Distributions. If the Liquidation Preference has been paid in full
to all holders of Series Y Preferred Stock and all other amounts payable upon liquidation, dissolution or winding up of the Corporation have been paid in full to all holders of any Parity Stock, the holders of Common Stock and any other Junior
Stock shall be entitled to receive all remaining assets of the Corporation according to their respective rights and preferences. 

(d)      Merger, Consolidation and Sale of Assets Not Liquidation. For purposes of
this Section 5, the sale, conveyance, exchange or transfer (for cash, shares of stock, securities or other consideration) of all or substantially all of the property and assets of the Corporation shall not be deemed a voluntary or involuntary
dissolution, liquidation or winding up of the affairs of the Corporation, nor shall the merger, consolidation or any other business combination transaction of the Corporation into or with any other corporation or person or the merger, consolidation
or any other business combination transaction of any other corporation or person into or with the Corporation be deemed to be a voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Corporation. 

Section 6.      Redemption. 

(a)      Optional Redemption. The Corporation, at the option of its Board of
Directors or any duly authorized committee of the Board of Directors of the Corporation, may redeem, subject to the prior approval of the Federal Reserve Board, out of funds legally available therefor, in whole or in part, the shares of
Series Y Preferred Stock at the time outstanding, at any time on any Dividend Payment Date on or after June 15, 2022, upon notice given as provided in Section 6(b) below. The redemption price for shares of Series Y Preferred
Stock 

  
 6 

 
shall be $25,000 per share plus an amount equal to any dividends that have been declared but not paid up to the redemption date without accumulation of any undeclared dividends. 

Notwithstanding the foregoing, within 90 days of the Corporation’s good faith determination that a Regulatory Capital
Treatment Event has occurred, the Corporation, at the option of its Board of Directors or any duly authorized committee of the Board of Directors of the Corporation, may, subject to the approval of the appropriate federal banking agency, redeem out
of funds legally available therefor, in whole, but not in part, the shares of Series Y Preferred Stock at the time outstanding, prior to June 15, 2022, upon notice given as provided in Section 6(b) below. The redemption price for
shares of Series Y Preferred Stock shall be $25,000 per share plus an amount equal to any dividends that have been declared but not paid, without accumulation of any undeclared dividends. 

(b)      Notice of Redemption. Notice of every redemption of shares of Series Y
Preferred Stock shall be mailed by first class mail, postage prepaid, addressed to the holders of record of such shares to be redeemed at their respective last addresses appearing on the stock register of the Corporation. Such mailing shall be at
least 40 days and not more than 70 days before the date fixed for redemption. Any notice mailed as provided in this Section 6(b) shall be conclusively presumed to have been duly given, whether or not the holder receives such notice, but
failure duly to give such notice by mail, or any defect in such notice or in the mailing thereof, to any holder of shares of Series Y Preferred Stock designated for redemption shall not affect the validity of the proceedings for the redemption
of any other shares of Series Y Preferred Stock. Each notice shall state (i) the redemption date; (ii) the number of shares of Series Y Preferred Stock to be redeemed and, if fewer than all the shares held by such holder are to
be redeemed, if applicable, the number of such shares to be redeemed from such holder; (iii) the redemption price; (iv) the place or places where the certificates for those shares are to be surrendered for payment of the redemption price;
and (v) that dividends on the shares to be redeemed will cease to accrue on the redemption date. Notwithstanding the foregoing, if the Series Y Preferred Stock is held in book-entry form through DTC, the Corporation may give such
notice in any manner permitted by DTC. 
 (c)      Partial Redemption. In case of
any redemption of only part of the shares of Series Y Preferred Stock at the time outstanding, the shares of Series Y Preferred Stock to be redeemed shall be selected either pro rata from the holders of record of Series Y
Preferred Stock in proportion to the number of Series Y Preferred Stock held by such holders or in such other manner consistent with the rules and policies of the New York Stock Exchange as the Board of Directors of the Corporation or any duly
authorized committee of the Board of Directors of the Corporation may determine to be fair and equitable. Subject to the provisions of this Section 6, the Board of Directors of the Corporation or any duly authorized committee of the Board of
Directors shall have full power and authority to prescribe the terms and conditions upon which shares of Series Y Preferred Stock shall be redeemed from time to time. 

(d)      Effectiveness of Redemption. If notice of redemption has been duly given
and if on or before the redemption date specified in the notice all funds necessary for the redemption have been irrevocably set aside by the Corporation, separate and apart from its other assets, in trust for the pro rata benefit of the
holders of the shares called for redemption, so as to be and 

  
 7 

 
continue to be available therefor, or deposited by the Corporation with a bank or trust company selected by the Board of Directors of the Corporation or any duly authorized committee of the Board
of Directors (the “Depositary Company”) in trust for the pro rata benefit of the holders of the shares called for redemption, then, notwithstanding that any certificate for any share so called for redemption has not been
surrendered for cancellation, on and after the redemption date all shares so called for redemption shall cease to be outstanding, all dividends with respect to such shares shall cease to accrue after such redemption date, and all rights with respect
to such shares shall forthwith on such redemption date cease and terminate, except only the right of the holders thereof to receive the amount payable on such redemption from the Depository Company at any time after the redemption date from the
funds so deposited, without interest. The Corporation shall be entitled to receive, from time to time, from the Depositary Company any interest accrued on such funds, and the holders of any shares called for redemption shall have no claim to any
such interest. Any funds so deposited and unclaimed at the end of two years from the redemption date shall, to the extent permitted by law, be released or repaid to the Corporation, after which time the holders of the shares so called for redemption
shall look only to the Corporation for payment of the redemption price of such shares. 

Section 7.      Voting Rights. 

(a)      General. The holders of Series Y Preferred Stock shall not be entitled to
vote on any matter except as set forth in paragraph 7(b) below or as required by applicable law. 

(b)      Right To Elect Two Directors Upon Nonpayment Events. Whenever dividends payable
on any shares of Series Y Preferred Stock or any class or series of Voting Parity Stock have not been declared and paid in an aggregate amount equal to, as to any class or series, at least six quarterly Dividend Periods or their equivalent,
whether or not for consecutive Dividend Periods (a “Nonpayment Event”), the holders of the outstanding Series Y Preferred Stock, voting together as a class with holders of Voting Parity Stock whose voting rights are
exercisable, will be entitled to vote for the election of two additional directors of the Corporation’s Board of Directors at the Corporation’s next annual meeting of stockholders and at each subsequent annual meeting of stockholders (the
“Preferred Stock Directors”) by a plurality of the votes cast; provided that the Board of Directors shall at no time include more than two Preferred Stock Directors (including, for purposes of this limitation, all directors
that the holders of any series of Voting Parity Stock are entitled to elect pursuant to like voting rights). Upon the vesting of such right of such holders, the maximum authorized number of members of the Board of Directors shall automatically be
increased by two and the two vacancies so created shall be filled by vote of the holders of the outstanding Series Y Preferred Stock (together with the holders of shares of any one or more other series of Voting Parity Stock). At elections for
such directors, each holder of the Series Y Preferred Stock shall be entitled to 25 votes for each share held (the holders of shares of any other series of Voting Parity Stock being entitled to such number of votes, if any, for each share of
such stock as may be granted to them). The right of the holders of the Series Y Preferred Stock (voting together as a class with the holders of shares of any one or more other series of Voting Parity Stock) to elect Preferred Stock Directors
shall continue until such time as the Corporation has paid in full dividends for the equivalent of at least four quarterly Dividend Periods or their equivalent, at which time such right with respect to

  
 8 

 
the Series Y Preferred Stock shall terminate, except as provided by law, and subject to revesting in the event of each and every subsequent default of the character described in this
Section 7(b). 
 Upon any termination of the right of the holders of all shares of Series Y Preferred Stock and
Voting Parity Stock to vote for Preferred Stock Directors, the term of office of all Preferred Stock Directors then in office elected by only those holders voting as a class shall terminate immediately. Any Preferred Stock Director may be removed at
any time without cause by the holders of a majority of the outstanding shares of Series Y Preferred Stock and Voting Parity Stock, when they have the voting rights described above (voting together as a class). In case any vacancy shall occur
among the Preferred Stock Directors, a successor may be elected by a plurality of the votes cast by the holders of Series Y Preferred Stock and Voting Parity Stock having the voting rights described above, voting together as a class, unless the
vacancy has already been filled. The Preferred Stock Directors shall each be entitled to one vote per director on any matter that shall come before the Board of Directors for a vote. Whenever the term of office of the directors elected by such
holders voting as a class shall end and the special voting powers vested in such holders as provided in this Section 7(b) shall have expired, the number of directors shall be such number as may be provided for in the By-Laws irrespective of any
increase made pursuant to this Section 7(b). 
 (c)      Other Voting Rights. In
addition to any other vote required by law or the Restated Certificate of Incorporation, so long as any shares of the Series Y Preferred Stock remain outstanding, the vote or consent of the holders of the outstanding shares of Series Y
Preferred Stock and outstanding shares of all other series of Voting Parity Stock entitled to vote on the matter, by a vote of at least 66 2/3% in voting power of all such outstanding Series Y Preferred Stock and such Voting Parity Stock,
voting together as a class, given in person or by proxy, either in writing without a meeting or at any meeting called for the purpose, shall be necessary to permit, effect or validate any one or more of the following actions, whether or not such
approval is required by Delaware law: (i) the issuance of any class or series of Preferred Stock or Preference Stock ranking senior to the Series Y Preferred Stock in the payment of dividends or the distribution of assets in the event of
the Corporation’s voluntary or involuntary liquidation, dissolution or winding up; (ii) any amendment, alteration or repeal of any provision of the Restated Certificate of Incorporation, including the Certificate of Designation, or the
By-laws that would adversely affect the rights, preferences, privileges or voting powers of the Series Y Preferred Stock; (iii) any amendment or alteration of the Restated Certificate of Incorporation, including the Certificate of
Designation, or By-laws to authorize, create, or increase the authorized amount of, any shares of, or any securities convertible into shares of, any class or series of the Corporation’s capital stock ranking senior to the Series Y
Preferred Stock with respect to either the payment of dividends or in the distribution of assets in the event of the Corporation’s voluntary or involuntary liquidation, dissolution or winding up; or (iv) any consummation of a
reclassification involving the Series Y Preferred Stock or a merger or consolidation with another corporation or other entity, except holders of the Series Y Preferred Stock will have no right to vote under this Section 7(c)(iv) if in
each case (a) the shares of Series Y Preferred Stock remain outstanding or, in the case of any such merger or consolidation with respect to which the Corporation is not the surviving or resulting entity, are converted into or exchanged for
preference securities of the surviving or resulting entity or its ultimate parent, and (b) such shares of Series Y Preferred Stock remaining outstanding or such preference 

  
 9 

 
securities, as the case may be, have such rights, preferences, privileges and voting powers, taken as a whole, as are not materially less favorable to the holders thereof than the rights,
preferences, privileges and voting powers of the Series Y Preferred Stock, taken as a whole; provided, however, that any authorization, creation or increase in the authorized amount of or issuance of the Series Y Preferred Stock or
any Parity Stock or Junior Stock or any securities convertible into any class or series of Parity Stock (whether dividends payable in respect of such Parity Stock are cumulative or non-cumulative) or Junior Stock will be deemed not to adversely
affect the rights, preferences, privileges or voting powers of the Series Y Preferred Stock, and holders of the Series Y Preferred Stock shall have no right to vote thereon. 

If any amendment, alteration, repeal, reclassification, merger or consolidation specified in this Section 7(c) would
adversely affect one or more but not all series of voting Preferred Stock (including the Series Y Preferred Stock), then only those series affected by and entitled to vote on the matter shall vote on the matter together as a class (in lieu of
all other series of Preferred Stock). 
 Each holder of the Series Y Preferred Stock will have 25 votes per share on
any matter on which holders of the Series Y Preferred Stock are entitled to vote, whether separately or together with any other series of stock of the Corporation (the holders of any shares of any other series of stock being entitled to such
number of votes, if any, for each share of stock as may be granted to them), pursuant to Delaware law or otherwise, including by written consent. 

(d)      Changes after Provision for Redemption. No vote or consent of the holders of
Series Y Preferred Stock shall be required pursuant to Section 7(b) or (c) above if, at or prior to the time when any such vote or consent would otherwise be required pursuant to such Section, all outstanding Series Y Preferred
Stock shall have been redeemed, or notice of redemption has been given and sufficient funds shall have been irrevocably deposited in trust to effect such redemption. 

(e)      Procedures for Voting and Consents. The rules and procedures for calling and
conducting any meeting of the holders of Series Y Preferred Stock (including, without limitation, the fixing of a record date in connection therewith), the solicitation and use of proxies at such a meeting, the obtaining of written consents and
any other aspect or matter with regard to such a meeting or such consents shall be governed by any rules the Board of Directors, in its discretion, may adopt from time to time, which rules and procedures shall conform to the requirements of the
Restated Certificate of Incorporation, the By-laws, applicable law and any national securities exchange or other trading facility in which the Series Y Preferred Stock is listed or traded at the time. 

Section 8.      Preemption and Conversion. The holders of Series Y Preferred
Stock shall not have any rights of preemption or rights to convert such Series Y Preferred Stock into shares of any other class of capital stock of the Corporation. 

Section 9.      Reacquired Shares. Shares of Series Y Preferred Stock which
have been issued and redeemed or otherwise purchased or acquired by the Corporation shall be restored to the status of authorized but unissued shares of Preferred Stock without designation as to series. 

  
 10 

 Section 10.      No Sinking Fund.
Shares of Series Y Preferred Stock are not subject to the operation of a sinking fund. 

Section 11.      Additional Classes or Series of Stock. Notwithstanding anything set
forth in the Restated Certificate of Incorporation or this Certificate of Designation to the contrary, the Board of Directors of the Corporation, or any authorized committee of the Board of Directors of the Corporation, (i) without the vote of
the holders of the Series Y Preferred Stock, may authorize and issue additional shares of Junior Stock and Parity Stock and (ii) with the requisite vote of the holders of the Series Y Preferred Stock and Parity Stock entitled to vote
thereon, may authorize and issue any additional class or series of Preferred Stock or Preference Stock senior to the Series Y Preferred Stock as to the payment of dividends and/or the distribution of assets upon any voluntary or involuntary
liquidation, dissolution or winding up of the affairs of the Corporation. 
 [Signature Page Follows] 

  
 11 

 IN WITNESS WHEREOF,
WELLS FARGO & COMPANY has caused this Certificate of Designation to be signed by Barbara S. Brett, its Senior Vice President and Assistant Treasurer, and Jeannine E. Zahn, its
Assistant Secretary, this 21st day of April, 2017. 
  

			
	WELLS FARGO & COMPANY
		
	By:	 	/s/ Barbara S. Brett
		 	Barbara S. Brett, Senior Vice President and Assistant Treasurer

  

	
	
	/s/ Jeannine E. Zahn
	Jeannine E. Zahn, Assistant SecretaryExhibit 4.3

 

Execution Copy

 

REGISTRATION RIGHTS AGREEMENT

 

This REGISTRATION RIGHTS AGREEMENT (this
“Agreement”), dated as of July 30, 2013, is by and among KKR Renaissance Aggregator L.P., a Delaware limited
partnership (the “Partnership”), KKR Renaissance Aggregator GP LLC, a Delaware limited liability company and
the general partner of the Partnership (“GP”), Renaissance Parent Corp., a Delaware corporation (“Parent”),
and each of the parties hereto. Each of the Persons listed on the signature pages hereto (other than GP), any other Person who
may become a party hereto pursuant to Section 11(c) and are referred to individually as a “Shareholder” and
collectively as the “Shareholders”).

 

WHEREAS, GP and certain Shareholders
are parties to that certain Amended and. Restated Limited Partnership Agreement, dated as of the date hereof, as the same may hereafter
be amended from time to time (the “Partnership Agreement”);

 

WHEREAS, the Partnership has agreed
to take actions necessary to bind the Corporation to provide registration rights with respect to the Registrable Securities (as
defined below), as set forth in this Agreement, and the Partners have agreed to act in good faith in order to effectuate these
registration rights with respect to the Corporation.

 

NOW, THEREFORE, for and in consideration
of the mutual agreements contained herein and for other good and valuable consideration, the receipt and sufficiency of which is
hereby acknowledged, the parties hereto, intending to be legally bound hereby, agree as follows:

 

Section 1.    Definitions. As used
in this Agreement, the following terms shall have the following meanings, and terms used herein but not otherwise defined herein
shall have the meanings assigned to them in the Partnership Agreement:

 

“Agreement” shall have the meaning
set forth in the Preamble.

 

“Common Stock”
shall mean all shares existing or hereafter authorized of any class of common stock of the Corporation, or partnership interests
or units if the Partnership is the Corporation, which has the right (subject always to the rights of any class or series of preferred
stock of the Corporation) to participate in the distribution of the assets and earnings of the Corporation without limit as to
per share amount, including any shares of capital stock into which Common Stock may be converted (as a result of recapitalization,
share exchange or similar event) or are issued with respect to Common Stock, including with respect to any stock split or stock
dividend, or a successor security.

 

“Corporation”
shall mean the IPO Corporation or such other corporate entity as shall be the successor to the IPO Corporation.

 

“Demand Notice” shall have
the meaning set forth in Section 3(a) hereof.

 

“Demand Registration” shall have the meaning set forth in Section
3(a) hereof.

 

“Exchange Act”
shall mean the Securities Exchange Act of 1934, as amended, and any successor statute thereto and the rules and regulations of
the SEC promulgated thereunder.

 

“GP” shall have the meaning set
forth in the Preamble.

 

“Indemnified Party” shall have
the meaning set forth in Section 8(c) hereof.

 

    	 

    	 

    

“Indemnifying Party” shall have
the meaning set forth in Section 8(c) hereof.

 

“Initial Public Offering”
shall have the meaning set forth in the Partnership Agreement.

 

“Locked-Up Shareholder” shall
have the meaning set forth in Section 5 hereof.

 

“Long-Form Registration” shall
have meaning set forth in Section 3(a) hereof.

 

“Losses” shall have the meaning
set forth in Section 8(a) hereof.

 

“Notice” shall have the meaning
set forth in Section 3(c) hereof.

 

“Partnership” shall have the meaning
set forth in the Preamble.

 

“Partnership Agreement” shall
have the meaning set forth in the recitals.

 

“Permitted Transferee”
shall have the meaning set forth in the Partnership Agreement.

 

“Person”
shall mean any natural person, corporation, limited partnership, general partnership, limited liability company, joint stock company,
joint venture, association, company, estate, trust, bank trust company, land trust, business trust, or other organization, whether
or not a legal entity, custodian, trustee-executor, administrator, nominee or entity in a representative capacity and any government
or agency or political subdivision thereof.

 

“Piggyback Notice” shall have
the meaning set forth in Section 4(a) hereof. “Piggyback Registration” shall have the meaning set forth in Section
4(a) hereof.

 

“Proceeding”
shall mean an action, claim, suit, arbitration or proceeding (including an investigation or partial proceeding, such as a deposition),
whether commenced or threatened.

 

“Prospectus”
shall mean the prospectus included in any Registration Statement (including a prospectus that discloses information
previously omitted from a prospectus filed as part of an effective Registration Statement in reliance upon Rule 430A
promulgated under the Securities Act), as amended or supplemented by any prospectus supplement, with respect to the terms of
the offering of any portion of the Registrable Securities covered by such Registration Statement, and all other amendments
and supplements to the Prospectus, including post-effective amendments, and all material incorporated by reference or deemed
to be incorporated by reference in such prospectus.

 

“Public Offering” shall
mean the sale of Common Stock to the public pursuant to an effective Registration Statement (other than Form S-4 or Form S-8 or
any similar or successor form) filed under the Securities Act or any comparable law or regulatory scheme of any foreign jurisdiction.

 

“Registrable Securities”
shall mean any shares of Common Stock currently held or hereafter acquired by the Shareholders (including any shares of Common
Stock held indirectly by a Shareholder through the Partnership), whether pursuant to Section 4.1(f) of the Partnership Agreement
or by any other means, and any other securities issued or issuable with respect to any such shares by way of share split, share
dividend, recapitalization, merger, exchange or similar event or otherwise. As to any particular Registrable Securities, once issued
such securities shall cease to be Registrable Securities when (i) they are sold pursuant to an effective Registration Statement
under the Securities Act, (ii) they are sold pursuant to Rule 144 (or any similar provision then in force under the Securities
Act), (iii) they shall have ceased to be outstanding, or (iv) they have been sold in a private transaction in which the transferor’s
rights under this Agreement are not assigned to the transferee of the securities. No Registrable Securities may be registered under
more than one Registration Statement at any one time.

 

    	2

    	 

    

“Registration Statement”
shall mean any registration statement of the Corporation under the Securities Act which covers any of the Registrable Securities
pursuant to the provisions of this Agreement, including the Prospectus, amendments and supplements to such registration statement,
including post-effective amendments, all exhibits and all material incorporated by reference or deemed to be incorporated by reference
in such registration statement.

 

“Rule 144”
shall mean Rule 144 under the Securities Act, as such Rule may be amended from time to time, or any similar rule or regulation
hereafter adopted by the SEC.

 

“SEC” shall
mean the Securities and Exchange Commission or any successor agency having jurisdiction under the Securities Act.

 

“Securities Act”
shall mean the Securities Act of 1933, as amended, and any successor statute thereto and the rules and regulations of the SEC promulgated
thereunder.

 

“Shareholders” shall have the
meaning set forth in the Preamble.

 

“Shelf Underwritten
Offering” shall have the meaning set forth in Section 4(c) hereof.

 

“Short-Form Registration” shall
have meaning set forth in Section 3(a) hereof.

 

“Sponsor Investor Shareholder”
shall mean the Sponsor Limited Partner so long as it holds (directly or indirectly through the Partnership) Registrable Securities.

 

“Take-Down Notice” shall have
the meaning set forth in Section 4(c) hereof.

 

“underwritten registration”
or “underwritten offering” shall mean a registration in which securities of the Corporation are sold to an underwriter
for reoffering to the public.

 

Section 2.    Holders of Registrable
Securities. A Person is deemed, and shall only be deemed, to be a holder of Registrable Securities if such Person owns Registrable
Securities or has a right to acquire such Registrable Securities and such Person is a Shareholder.

 

Section 3.    Demand Registrations.

 

(a)    Requests for Registration.
Subject to the following paragraphs of this Section 3(a), (i) the Sponsor Investor Shareholder shall have the right at any time
and from time to time, by delivering or causing to be delivered a written notice to the Corporation, to require the Corporation
to register, pursuant to the terms of this Agreement, under and in accordance with the provisions of the Securities Act, the sale
of a number of Registrable Securities specified by the Sponsor Investor Shareholder to be so registered and sold in the Initial
Public Offering and (ii) following the Initial Public Offering, the Sponsor Investor Shareholder shall have the right, by delivering,
directly or indirectly, a written notice to the Corporation, to require the Corporation to register pursuant to the terms of this
Agreement, under and in accordance with the provisions of the Securities Act, the number of Registrable Securities requested to
be so registered pursuant to the terms of this Agreement on Form S-1 or any similar or successor long-form registration (“Long-Form
Registrations”) or, if available, on Form S-3 or any similar or successor short-form registration (“Short-Form
Registrations”) (any such written notice, a “Demand Notice” and any such registration, a “Demand
Registration”). The Sponsor Investor Shareholder may, in connection with any Demand Registration requested by such holder
that is a Short Form Registration, require the Corporation to file such registration statement with the SEC in accordance with
and pursuant to Rule 415 under the Securities Act including, if the Corporation is then eligible, as an automatic shelf registration.
Following receipt of a Demand Notice for a Demand Registration delivered in accordance with this Section 3(a), the Corporation
shall use its reasonable best efforts to file a Registration Statement as promptly as practicable and shall use its reasonable
best efforts to cause such Registration Statement to be declared effective under the Securities Act as promptly as practicable
after the filing thereof.

 

    	3

    	 

    

(b)    No Demand Registration shall be
deemed to have occurred for purposes of this Section 3 if the Registration Statement relating thereto (i) does not become effective,
(ii) is not maintained effective for the period required pursuant to this Section 3, or (iii) the offering of the Registrable Securities
pursuant to such Registration Statement is subject to a stop order, injunction, or similar order or requirement of the SEC during
such period, in which case, such requesting holder of Registrable Securities shall be entitled to an additional Demand Registration
in lieu thereof.

 

(c)    Within ten days after receipt
by the Corporation of a Demand Notice in accordance with Section 3(a), the Corporation shall give written notice (the
“Notice”) of such Demand Notice to all other holders of Registrable Securities and shall, subject to the
provisions of Section 3(b) hereof, include in such registration all Registrable Securities with respect to which the
Corporation received written requests for inclusion therein within 15 days after such Notice is given by the Corporation to
such holders with respect to the Initial Public Offering, or within five days after such Notice is given by the Corporation
to such holders with respect to all other Demand Registrations; provided, however, that notwithstanding anything to the
contrary in this Agreement, unless otherwise consented to by the Sponsor Investor Shareholder, in connection with a Demand
Notice for an Initial Public Offering, the Corporation shall only be required to deliver any Notice or Piggyback Notice as
provided in clause (i) of the second paragraph of Section 4(a).

 

(d)    All requests made pursuant
to this Section 3 will specify the number of Registrable Securities to be registered and/or, in the case of an Initial Public Offering,
the number of shares of Common Stock to be issued, and the intended methods of disposition thereof.

 

(e)    The Corporation shall
be required to maintain the effectiveness of the Registration Statement with respect to any Demand Registration for a period of
at least 180 days after the effective date thereof or such shorter period during which all Registrable Securities included in such
Registration Statement have actually been sold; provided, however, that such period shall be extended for a period
of time equal to the period the holder of Registrable Securities refrains from selling any securities included in such Registration
Statement at the request of the Corporation or an underwriter of the Corporation pursuant to the provisions of this Agreement.

 

Notwithstanding the foregoing,
with respect to any shelf registration statement covering Registrable Securities, the Corporation shall use its reasonable best
efforts (if the Corporation is not eligible to use an automatic shelf registration statement at the time of filing) to keep such
shelf registration statement continuously effective under the Securities Act in order to permit the prospectus forming a part thereof
to be usable by Shareholders until the earlier of (i) the date as of which all Registrable Securities have been sold pursuant to
the shelf registration statement or another registration statement filed under the Securities Act (but in no event prior to the
applicable period referred to in Section 4(3) of the Securities Act and Rule 174 thereunder) and (ii) the date as of which each
of the Shareholders participating in such Shelf Registration is permitted to sell its Registrable Securities without registration
pursuant to Rule 144 under the Securities Act without volume limitation or other restrictions on transfer thereunder.

 

(f)    Priority on Demand
Registration. If any of the Registrable Securities registered pursuant to a Demand Registration are to be sold in a firm commitment
underwritten offering, and the managing underwriter or underwriters advise the holders of such securities in writing that in its
view the total number or dollar amount of Registrable Securities proposed to be sold in such offering is such as to adversely affect
the success of such offering (including securities proposed to be included by other holders of securities entitled to include securities
in such Registration Statement pursuant to incidental or piggyback registration rights), then there shall be included in such firm
commitment underwritten offering the number or dollar amount of Registrable Securities that in the opinion of such managing underwriter
can be sold without adversely affecting such offering, and such number of Registrable Securities shall be allocated as follows,
unless the underwriter requires a different allocation:

 

(i)    first, pro rata among
the holders of Registrable Securities on the basis of the percentage of the Registrable Securities requested to be included in
such Registration Statement by such holders; and

 

(ii)    second,
the securities for which inclusion in such Demand Registration, as the case may be, was requested by the Corporation.

 

    	4

    	 

    

For purposes of any underwriter
cutback, all Registrable Securities held by any Shareholder shall also include any Registrable Securities held by the partners,
retired partners, shareholders or Affiliates of such holder, or the estates and family members of any such holder or such partners
and retired partners, any trusts for the benefit of any of the foregoing Persons and, at the election of such holder or such partners,
retired partners, trust or Affiliates, any charitable organization, in each case to which any of the foregoing shall have been
distributed, transferred or contributed Registrable Securities prior to the execution of the underwriting agreement in connection
with such underwritten offering; provided that such distribution, transfer or contribution occurred not more than 90 days
prior to such execution, and such holder and other Persons shall be deemed to be a single selling holder, and any pro rata reduction
(unless the managing underwriter requires a different allocation) with respect to such selling holder shall be based upon the aggregate
amount of Registrable Securities owned by all Persons included in such selling holder, as defined in this sentence. No securities
excluded from the underwriting by reason of the underwriter’s marketing limitation shall be included in such registration.

 

(g)    Postponement of Demand
Registration. The Corporation shall be entitled to postpone (but not more than once in any 12-month period), for a reasonable
period of time not in excess of 60 days, the filing of a Registration Statement if the Corporation delivers to the holders requesting
registration a certificate signed by both the chief executive officer and chief financial officer of the Corporation certifying
that, in the good faith judgment of the board of directors of the Corporation, such registration and offering would reasonably
be expected to materially adversely affect or materially interfere with any bona fide material financing of the Corporation
or any material transaction under consideration by the Corporation or would require disclosure of information that has not been
disclosed to the public, the premature disclosure of which would materially adversely affect the Corporation. Such certificate
shall contain a statement of the reasons for such postponement and an approximation of the anticipated delay. The holders receiving
such certificate shall keep the information contained in such certificate confidential subject to the same terms set forth in Section
6(p). If the Corporation shall so postpone the filing of a Registration Statement, the Sponsor Investor Shareholder shall have
the right to withdraw the request for registration by giving written notice to the Corporation within 20 days of the anticipated
termination date of the postponement period, as provided in the certificate delivered to the holders.

 

(h)    Cancellation of a Demand
Registration. Holders of a majority of the Registrable Securities which are to be registered in a particular offering pursuant
to this Section 3 (other than an Initial Public Offering) shall have the right to notify the Corporation that they have determined
that the registration statement be abandoned or withdrawn, in which event the Corporation shall abandon or withdraw such registration
statement. In the event of the Initial Public Offering, the Sponsor Investor Shareholder shall have the right to notify the Corporation
that it has determined that the registration statement be abandoned or withdrawn, in which event the Corporation shall abandon
or withdraw such registration statement.

 

(i)    Number of Demand Notices.
In connection with the provisions of this Section 3, the Sponsor Investor Shareholder shall have an unlimited number of Demand
Notices which it is permitted to deliver (or cause to be delivered) to the Corporation hereunder.

 

(j)    Registration Statement
Form. If any registration requested pursuant to this Section 3 which is proposed by the Corporation to be effected by the filing
of a Registration Statement on Form S-3 (or any successor or similar short-form registration statement) shall be in connection
with an underwritten Public Offering, and if the managing underwriter shall advise the Corporation in writing that, in its opinion,
the use of another form of Registration Statement is of material importance to the success of such proposed offering or is otherwise
required by applicable law, then such registration shall be effected on such other form.

 

    	5

    	 

    

Section 4.    Piggyback Registration.

 

(a)    Right to Piggyback.
Except with respect to a Demand Registration, the procedures for which are addressed in Section 3, if the Corporation proposes
to file a registration statement under the Securities Act with respect to an offering of Common Stock whether or not for sale for
its own account (other than a registration statement (i) on Form S-4, Form S-8 or any successor forms thereto or (ii) filed solely
in connection with an exchange offer or any employee benefit or dividend reinvestment plan), then, each such time after the Initial
Public Offering, the Corporation shall give prompt written notice of such filing no later than ten days prior to the filing date
(the “Piggyback Notice”) to all of the holders of Registrable Securities. The Piggyback Notice shall offer such
holders the opportunity to include (or cause to be included) in such registration statement the number of Registrable Securities
as each such holder may request (a “Piggyback Registration”). Subject to Section 4(b) hereof, the Corporation
shall include in each such Piggyback Registration all Registrable Securities with respect to which the Corporation has received
written requests for inclusion therein within ten days after notice has been given to the applicable holder. The Corporation shall
not be required to maintain the effectiveness of the Registration Statement for a Piggyback Registration beyond the earlier to
occur of (i) 180 days after the effective date thereof and (ii) consummation of the distribution by the holders of the Registrable
Securities included in such Registration Statement.

 

Notwithstanding anything to the contrary
in this Agreement, (i) in connection with a Demand Notice for an Initial Public Offering in which the Sponsor Investor Shareholder
is selling (or causing to be sold) shares of Common Stock beneficially owned by it in any such Initial Public Offering on a secondary
basis, the Corporation shall be required to deliver a Piggyback Notice and in such event all such holders of Registrable Securities
shall have the right to participate in such offering on a pro rata basis (based on the number of shares of Common Stock the Sponsor
Investor Shareholder is proposing to sell in such Initial Public Offering) with the Sponsor Investor Shareholder (it being understood
that in connection with any Initial Public Offering in which the Sponsor Investor Shareholder is not selling (or causing to be
sold) shares of Common Stock beneficially owned by it on a secondary basis, no such Piggyback Notice need be sent) and (ii) no
member of senior management who has been provided with piggyback rights shall be permitted to exercise such rights (x) in connection
with an Initial Public Offering, unless the Sponsor Investor Shareholder consents thereto in writing, and (y) in connection with
any other Public Offering, unless the Sponsor Investor Shareholder is selling Registrable Securities in such transaction.

 

(b)    Priority on Piggyback Registrations.
The Corporation shall use reasonable best efforts to cause the managing underwriter or underwriters of a proposed underwritten
offering to permit holders of Registrable Securities who have submitted a Piggyback Notice in connection with such offering to
include in such offering all Registrable Securities included in each holder’s Piggyback Notice on the same terms and conditions
as any other shares of capital stock, if any, of the Corporation included in the offering. Notwithstanding the foregoing, if the
managing underwriter or underwriters of such underwritten offering have informed the Corporation in writing that it is their good
faith opinion that the total amount of securities that such holders, the Corporation and any other Persons having rights to participate
in such registration, intend to include in such offering is such as to adversely affect the success of such offering, then the
amount of securities to be offered (i) for the account of holders of Registrable Securities (other than the Corporation) and (ii)
for the account of all such other Persons (other than the Corporation) shall be reduced to the extent necessary to reduce the total
amount of securities to be included in such offering to the amount recommended by such managing underwriter or underwriters by
first reducing, or eliminating if necessary, all securities of the Corporation requested to be included by such other Persons (other
than the Corporation and holders of Registrable Securities) and then, if necessary, reducing the securities requested to be included
by the holders of Registrable Securities requesting such registration pro rata among such holders on the basis of the percentage
of the Registrable Securities requested to be included in such Registration Statement by such holders.

 

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(c)    Shelf-Take Downs. At any
time that a shelf registration statement covering Registrable Securities pursuant to Section 3 or Section 4 is effective, if any
holder or group of holders of Registrable Securities delivers a notice to the Corporation (a “Take-Down Notice”)
stating that it intends to effect an underwritten offering of all or part of its Registrable Securities included by it on the shelf
registration statement (a “Shelf Underwritten Offering”), then, the Corporation shall amend or supplement
the shelf registration statement as may be necessary in order to enable such Registrable Securities to be distributed pursuant
to the Shelf Underwritten Offering (taking into account the inclusion of Registrable Securities by any other holders pursuant to
this Section 4(c)). In connection with any Shelf Underwritten Offering:

 

(i)    such proposing holder(s)
shall also deliver the Take-Down Notice to all other holders of Registrable Securities included on such shelf registration statement
and permit each such holder to include its Registrable Securities included on the shelf registration statement in the Shelf Underwritten
Offering if such holder notifies the proposing holders and the Corporation within five days after delivery of the Take-Down Notice
to such holder; and

 

(ii)    in the event that the
underwriter determines that marketing factors (including an adverse effect on the per share offering price) require a limitation
on the number of Registrable Securities which would otherwise be included in such take down, the underwriter may limit the number
of Registrable Securities which would otherwise be included in such take-down offering in the same manner as described in Section
3(b) with respect to a limitation of shares to be included in a registration.

 

Section 5.    Restrictions on Public
Sale by Holders of Registrable Securities, Each Shareholder agrees, in connection with the Initial Public Offering, and each
holder of Registrable Securities agrees, in connection with any underwritten offering made pursuant to a Registration Statement
filed pursuant to Section 3 or Section 4 hereof (whether or not such holder elected to include Registrable Securities in such Registration
Statement), if requested (pursuant to a written notice) by the managing underwriter or underwriters in an underwritten offering,
not to effect any public sale or distribution of any of the Corporation’s securities (except as part of such underwritten
offering), including a sale pursuant to Rule 144 or any swap or other economic arrangement that transfers to another any of the
economic consequences of owning the Common Stock, or to give any Demand Notice during the period commencing on the date of the
request (which shall be no earlier than 14 days prior to the expected “pricing” of such offering) and continuing for
not more than 180 days (with respect to the Initial Public Offering) or 90 days after the date of the Prospectus (or Prospectus
supplement if the offering is made pursuant to a “shelf’ registration), pursuant to which such public offering shall
be made, plus an extension period, which shall be no longer than 17 days, as may be proposed by the managing underwriter to address
FINRA regulations regarding the publishing of research, or such lesser period as is required by the managing underwriter. GP shall
be responsible for negotiating all “lock-up” agreements with the underwriters and, in addition to the foregoing provisions
of this Section 5, the Shareholders and holders of. Registrable Securities agree to execute the form so negotiated; provided,
that (i) the terms and conditions of such “lock-up” agreements applicable to the Sponsor Investor Shareholder and
each other Shareholder that is a limited partner in the Partnership (“Locked-Up Shareholders”) shall be substantially
the same in all material respects and (ii) any discretionary waiver or termination of the restrictions contained in such “lock-up”
agreements that apply to Locked-Up Shareholders shall apply to all Locked-Up Shareholders on substantially the same terms with
regard to one another.

 

If any registration pursuant
to Section 3 of this Agreement shall be in connection with any underwritten Public Offering, the Corporation will not effect any
public sale or distribution of any common equity (or securities convertible into or exchangeable or exercisable for common equity)
(other than a registration statement (i) on Form S-4, Form S-8 or any successor forms thereto or (ii) filed solely in connection
with an exchange offer or any employee benefit or dividend reinvestment plan) for its own account, within 90 days (or such shorter
periods as the managing underwriters may agree to with the GP) after the effective date of such registration except as may otherwise
be agreed between the Corporation and the managing underwriters of such Public Offering.

 

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Section 6.    Registration Procedures.
If and whenever the Corporation is required to effect the registration of any Registrable Securities under the Securities Act as
provided in Section 3 and Section 4 hereof, the Corporation shall effect such registration to permit the sale of such Registrable
Securities in accordance with the intended method or methods of disposition thereof, and pursuant thereto the Corporation shall
cooperate in the sale of the securities and shall, as expeditiously as possible:

 

(a)    prepare and file with the SEC a
Registration Statement or Registration Statements on such form as shall be available for the sale of the Registrable
Securities by the holders thereof or by the Corporation in accordance with the intended method or methods of distribution
thereof, and use its reasonable best efforts to cause such Registration Statement to become effective and to remain effective
as provided herein; provided, however, that before filing a Registration Statement or Prospectus or any
amendments or supplements thereto (including documents that would be incorporated or deemed to be incorporated therein by
reference), the Corporation shall furnish or otherwise make available to the holders of the Registrable Securities covered by
such Registration Statement, their counsel and the managing underwriters, if any, copies of all such documents proposed to be
filed, which documents will be subject to the reasonable review and comment of such counsel, and such other documents
reasonably requested by such counsel, including any comment letter from the SEC, and, if requested by such counsel, provide
such counsel reasonable opportunity to participate in the preparation of such Registration Statement and each Prospectus
included therein and such other opportunities to conduct a reasonable investigation within the meaning of the Securities Act,
including reasonable access to the Corporation’s books and records, officers, accountants and other advisors. The
Corporation shall not file any such Registration Statement or Prospectus or any amendments or supplements thereto (including
such documents that, upon filing, would be incorporated or deemed to be incorporated by reference therein) with respect to a
Demand Registration to which the holders of a majority of the Registrable Securities covered by such Registration Statement,
their counsel, or the managing underwriters, if any, shall reasonably object, in writing, on a timely basis, unless, in the
opinion of the Corporation, such filing is necessary to comply with applicable law;

 

(b)    prepare and file with the SEC such
amendments and post-effective amendments to each Registration Statement as may be necessary to keep such Registration Statement
continuously effective during the period provided herein and comply in all material respects with the provisions of the Securities
Act with respect to the disposition of all securities covered by such Registration Statement; and cause the related Prospectus
to be supplemented by any Prospectus supplement as may be necessary to comply with the provisions of the Securities Act with respect
to the disposition of the securities covered by such Registration Statement, and as so supplemented to be filed pursuant to Rule
424 (or any similar provisions then in force) under the Securities Act;

 

(c)    notify each selling holder of
Registrable Securities, its counsel and the managing underwriters, if any, promptly, and (if requested by any such Person)
confirm such notice in writing, (i) when a Prospectus or any Prospectus supplement or post-effective amendment has been
filed, and, with respect to a Registration Statement or any post-effective amendment, when the same has become effective,
(ii) 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, (iii) of the issuance by the SEC of any stop
order suspending the effectiveness of a Registration Statement or the initiation of any proceedings for that purpose, (iv) if
at any time the Corporation has reason to believe that the representations and warranties of the Corporation contained in any
agreement (including any underwriting agreement) contemplated by Section 6(o) below cease to be true and correct, (v) of the
receipt by the Corporation of any notification with respect to the suspension of the qualification or exemption from
qualification of any of the Registrable Securities for sale in any jurisdiction, or the initiation or threatening of any
proceeding for such purpose, and (vi) if the Corporation has knowledge of the happening of any event that makes any statement
made in such Registration Statement or related Prospectus or any document incorporated or deemed to be incorporated therein
by reference untrue in any material respect or that requires the making of any changes in such Registration Statement,
Prospectus or documents so that, in the case of the Registration Statement, it will not contain any untrue statement of a
material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein,
not misleading, and that in the case of the Prospectus, it will not contain any untrue statement of a material fact or omit
to state any material fact necessary in order to make the statements therein, in light of the circumstances under which
they were made, not misleading (which notice shall notify the selling holders only of the occurrence of such an event and
shall provide no additional information regarding such event to the extent such information would constitute material
nonpublic information);

 

    	8

    	 

    

(d)    use its reasonable best efforts
to obtain the withdrawal of any order suspending the effectiveness of a Registration Statement, or the lifting of any suspension
of the qualification (or exemption from qualification) of any of the Registrable Securities for sale in any jurisdiction at the
earliest date reasonably practicable;

 

(e)    if requested by the managing underwriters,
if any, or the holders of a majority of the then outstanding Registrable Securities being sold in connection with an underwritten
offering, promptly include in a Prospectus supplement or post-effective amendment such information as the managing underwriters,
if any, and such holders may reasonably request in order to permit the intended method of distribution of such securities and make
all required filings of such Prospectus supplement or such post-effective amendment as soon as practicable after the Corporation
has received such request; provided, however, that the Corporation shall not be required to take any actions under this Section
6(e) that are not, in the opinion of counsel for the Corporation, in compliance with applicable law;

 

(f)    furnish or make available to each
selling holder of Registrable Securities, its counsel and each managing underwriter, if any, without charge, at least one conformed
copy of the Registration Statement, the Prospectus and Prospectus supplements, if applicable, and each post-effective amendment
thereto, including financial statements (but excluding schedules, all documents incorporated or deemed to be incorporated therein
by reference, and all exhibits, unless requested in writing by such holder, counsel or underwriter); provided that the Corporation
may furnish or make available any such documents in electronic format;

 

(g)    deliver to each selling holder of
Registrable Securities, its counsel, and the underwriters, if any, without charge, as many copies of the Prospectus or Prospectuses
(including each form of Prospectus) and each amendment or supplement thereto as such Persons may reasonably request from time to
time in connection with the distribution of the Registrable Securities; provided that the Corporation may furnish or make
available any such documents in electronic format; and the Corporation, subject to the last paragraph of this Section 6, hereby
consents to the use of such Prospectus and each amendment or supplement thereto by each of the selling holders of Registrable Securities
and the underwriters, if any, in connection with the offering and sale of the Registrable Securities covered by such Prospectus
and any such amendment or supplement thereto;

 

(h)    prior to any public offering of
Registrable Securities, use its reasonable best efforts to register or qualify or cooperate with the selling holders of
Registrable Securities, the underwriters, if any, and their respective counsel in connection with the registration or
qualification (or exemption from such registration or qualification) of such Registrable Securities for offer and sale under
the securities or “blue sky” laws of such jurisdictions within the United States as any seller or underwriter
reasonably requests in writing and to keep each such registration or qualification (or exemption therefrom) effective during
the period such Registration Statement is required to be kept effective and to take any other action that may be necessary or
advisable to enable such holders of Registrable Securities to consummate the disposition of such Registrable Securities in
such jurisdiction; provided, however, that the Corporation will not be required to (i) qualify generally to do
business in any jurisdiction where it is not then so qualified or (ii) take any action that would subject it to general
service of process in any such jurisdiction where it is not then so subject;

 

(i)    cooperate with the selling holders
of Registrable Securities and the managing underwriters, if any, to facilitate the timely preparation and delivery of certificates
(not bearing any legends) representing Registrable Securities to be sold after receiving written representations from each holder
of such Registrable Securities that the Registrable Securities represented by the certificates so delivered by such holder will
be transferred in accordance with the Registration Statement, and enable such Registrable Securities to be in such denominations
and registered in such names as the managing underwriters, if any, or holders may request at least two (2) business days prior
to any sale of Registrable Securities in a firm commitment public offering, but in any other such sale, within ten (10) business
days prior to having to issue the securities;

 

(j)    use its reasonable best efforts
to cause the Registrable Securities covered by the Registration Statement to be registered with or approved by all other applicable
governmental agencies or authorities within the United States, except as may be required solely as a consequence of the nature
of such selling holder’s business, in which case the Corporation will cooperate in all reasonable respects with the filing
of such Registration Statement and the granting of such approvals, as may be necessary to enable the seller or sellers thereof
or the underwriters, if any, to consummate the disposition of such Registrable Securities;

 

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(k)    upon the occurrence of, and its knowledge
of, any event contemplated by Section 6(c)(vi) above, prepare a supplement or post-effective amendment to the Registration Statement
or a supplement to the related Prospectus or any document incorporated or deemed to be incorporated therein by reference, or file
any other required document so that, as thereafter delivered to the purchasers of the Registrable Securities being sold thereunder,
such Prospectus will not contain an untrue statement of a material fact or omit to state a material fact required to be stated
therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading;

 

(l)    prior to the effective
date of the Registration Statement relating to the Registrable Securities, provide a CUSIP number for the Registrable Securities;

 

(m)    provide and cause to be
maintained a transfer agent and registrar for all Registrable Securities covered by such Registration Statement from and after
a date not later than the effective date of such Registration Statement;

 

(n)    use its reasonable best
efforts to cause all shares of Registrable Securities covered by such Registration Statement to be listed on a national securities
exchange if shares of the particular class of Registrable Securities are at that time listed on such exchange, as the case may
be, prior to the effectiveness of such Registration Statement (or, if such Registration is an initial public offering, use its
reasonable best efforts to cause such Registrable Securities to be so listed within ten (10) business days following the effectiveness
of such Registration Statement);

 

(o)    enter into such agreements (including
an underwriting agreement in form, scope and substance as is customary in underwritten offerings) and take all such other actions
reasonably requested by the holders of a majority of the Registrable Securities being sold in connection therewith (including those
reasonably requested by the managing underwriters, if any) to expedite or facilitate the disposition of such Registrable Securities,
and in such connection, whether or not an underwriting agreement is entered into and whether or not the registration is an underwritten
registration, (i) make such representations and warranties to the holders of such Registrable Securities and the underwriters,
if any, with respect to the business of the Corporation and its subsidiaries, and the Registration Statement, Prospectus and documents,
if any, incorporated or deemed to be incorporated by reference therein, in each case, in form, substance and scope as are customarily
made by issuers to underwriters in underwritten offerings, and, if true, confirm the same if and when requested, (ii) use its reasonable
best efforts to furnish to the selling holders of such Registrable Securities opinions of counsel to the Corporation and updates
thereof (which counsel and opinions (in form, scope and substance) shall be reasonably satisfactory to the managing underwriters,
if any, and counsels to the selling holders of the Registrable Securities), addressed to each selling holder of Registrable Securities
and each of the underwriters, if any, covering the matters customarily covered in opinions requested in underwritten offerings
and such other matters as may be reasonably requested by such counsel and underwriters, (iii) use its reasonable best efforts to
obtain “cold comfort” letters and updates thereof from the independent certified public accountants of the Corporation
(and, if necessary, any other independent certified public accountants of any subsidiary of the Corporation or of any business
acquired by the Corporation for which financial statements and financial data are, or are required to be, included in the Registration
Statement) who have certified the financial statements included in such Registration Statement, addressed to each selling holder
of Registrable Securities (unless such accountants shall be prohibited from so addressing such letters by applicable standards
of the accounting profession) and each of the underwriters, if any, such letters to be in customary form and covering matters of
the type customarily covered in “cold comfort” letters in connection with underwritten offerings, (iv) if an underwriting
agreement is entered into, the same shall contain indemnification provisions and procedures substantially to the effect set forth
in Section 8 hereof with respect to all parties to be indemnified pursuant to said Section and (v) deliver such documents and certificates
as may be reasonably requested by the holders of a majority of the Registrable Securities being sold pursuant to such Registration
Statement, their counsel and the managing underwriters, if any, to evidence the continued validity of the representations and warranties
made pursuant to Section 6(o)(i) above and to evidence compliance with any customary conditions contained in the underwriting agreement
or other agreement entered into by the Corporation. The above shall be done at each closing under such underwriting or similar
agreement, or as and to the extent required thereunder;

 

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(p)    make available for inspection by
a representative of the selling holders of Registrable Securities, any underwriter participating in any such disposition of Registrable
Securities, if any, and any attorneys or accountants retained by such selling holders or underwriter, at the offices where normally
kept, during reasonable business hours, all financial and other records, pertinent corporate documents and properties of the Corporation
and its subsidiaries, and cause the officers, directors and employees of the Corporation and its subsidiaries to supply all information
in each case reasonably requested by any such representative, underwriter, attorney or accountant in connection with such Registration
Statement; provided, however, that any information that is not generally publicly available at the time of delivery
of such information shall be kept confidential by such Persons unless (i) disclosure of such information is required by court or
administrative order, (ii) disclosure of such information, in the opinion of counsel to such Person, is required by law or applicable
legal process, or (iii) such information becomes generally available to the public other than as a result of a non-permitted disclosure
or failure to safeguard by such Person. In the case of a proposed disclosure pursuant to (i) or (ii) above, such Person shall be
required to give the Corporation written notice of the proposed disclosure prior to such disclosure and, if requested by the Corporation,
assist the Corporation in seeking to prevent or limit the proposed disclosure. Without limiting the foregoing, no such information
shall be used by such Person as the basis for any market transactions in securities of the Corporation or its subsidiaries in violation
of law;

 

(q)    cause its officers to use their
reasonable best efforts to support the marketing of the Registrable Securities covered by the Registration Statement (including
participation in “road shows”) taking into account the Corporation’s business needs; and

 

(r)    cooperate with each seller of Registrable
Securities and each underwriter or agent participating in the disposition of such Registrable Securities and their respective counsel
in connection with any filings required to be made with the FINRA.

 

The Corporation may require each
holder of Registrable Securities as to which any registration is being effected to furnish to the Corporation in writing such information
required in connection with such registration regarding such seller and the distribution of such Registrable Securities as the
Corporation may, from time to time, reasonably request in writing and the Corporation may exclude from such registration the Registrable
Securities of any holder who unreasonably fails to furnish such information within a reasonable time after receiving such request.

 

Each holder of Registrable Securities
agrees if such holder has Registrable Securities covered by such Registration Statement that, upon receipt of any notice from
the Corporation of the happening of any event of the kind described in Section 6(c)(ii), 6(c)(iii), 6(c)(iv) or 6(c)(v)
hereof, such holder will forthwith discontinue disposition of such Registrable Securities covered by such Registration
Statement or Prospectus until such holder’s receipt of the copies of the supplemented or amended Prospectus
contemplated by Section 6(k) hereof, or until it is advised in writing by the Corporation that the use of the applicable
Prospectus may be resumed, and has received copies of any additional or supplemental filings that are incorporated or deemed
to be incorporated by reference in such Prospectus; provided, however, that the time periods under Section 3
with respect to the length of time that the effectiveness of a Registration Statement must be maintained shall automatically
be extended by the amount of time the holder is required to discontinue disposition of such securities.

 

Section 7.    Registration
Expenses. All reasonable fees and expenses incident to the performance of or compliance with this Agreement by the Corporation
(including (i) all registration and filing fees (including fees and expenses with respect to (A) filings required to be made with
the National Association of Securities Dealers, Inc. and (B) compliance with securities or “blue sky” laws, including
any fees and disbursements of counsel for the underwriters in connection with “blue sky” qualifications of the Registrable
Securities pursuant to Section 6(h)), (ii) printing expenses (including expenses of printing certificates for Registrable Securities
in a form eligible for deposit with The Depository Trust Company and of printing Prospectuses if the printing of Prospectuses is
requested by the managing underwriters, if any, or by the holders of a majority of the Registrable Securities included in any Registration
Statement), (iii) messenger, telephone and delivery expenses of the Corporation, (iv) fees and disbursements of counsel for the
Corporation, (v) expenses of the Corporation incurred in connection with any road show, (vi) fees and disbursements of all independent
certified public accountants referred to in Section 6(o)(iii) hereof (including the expenses of any “cold comfort”
letters required by this Agreement) and any other Persons, including special experts retained by the Corporation, and (vii) fees
and disbursements of one counsel for the Sponsor Investor Shareholder and the holders of Registrable Securities whose shares are
included in a Registration Statement, which counsel shall be selected by the Sponsor Investor Shareholder (and otherwise, by the
holders of a majority of the Registrable Securities being sold in connection therewith) shall be borne by the Corporation whether
or not any Registration Statement is filed or becomes effective. In addition, the Corporation shall pay its internal expenses (including
all salaries and expenses of its officers and employees performing legal or accounting duties), the expense of any annual audit,
the fees and expenses incurred in connection with the listing of the securities to be registered on any securities exchange on
which similar securities issued by the Corporation are then listed and rating agency fees and the fees and expenses of any Person,
including special experts, retained by the Corporation.

 

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The Corporation shall not be
required to pay (i) fees and disbursements of any counsel retained by any holder of Registrable Securities or by any underwriter
(except as set forth in clauses 7(i)(B) and 7(vii)), (ii) any underwriter’s fees (including discounts, commissions or fees
of underwriters, selling brokers, dealer managers or similar securities industry professionals) relating to the distribution of
the Registrable Securities (other than with respect to Registrable Securities sold by the Corporation), or (iii) any other expenses
of the holders of Registrable Securities not specifically required to be paid by the Corporation pursuant to the first paragraph
of this Section 7.

 

Section 8.    Indemnification.

 

(a)    Indemnification
by the Corporation. The Corporation shall, without limitation as to time, indemnify and hold harmless, to the fullest
extent permitted by law, each holder of Registrable Securities whose Registrable Securities are covered by a Registration
Statement or Prospectus, the officers, directors, partners, members, managers, shareholders, accountants, attorneys, agents
and employees of each of them, each Person who controls each such holder (within the meaning of Section 15 of the Securities
Act or Section 20 of the Exchange Act) and the officers, directors, partners, members, managers, shareholders, accountants,
attorneys, agents and employees of each such controlling person, each underwriter, if any, and each Person who controls
(within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act) such underwriter, from and against
any and all losses, claims, damages, liabilities, costs (including costs of preparation and reasonable attorneys’ fees
and any legal or other fees or expenses incurred by such party in connection with any investigation or Proceeding), expenses,
judgments, fines, penalties, charges and amounts paid in settlement (collectively, “Losses”), as incurred,
arising out of or based upon any untrue statement (or alleged untrue statement) of a material fact contained in any
Prospectus, offering circular, or other document (including any related Registration Statement, notification, or the like)
incident to any such registration, qualification, or compliance, or based on any omission (or alleged omission) to state
therein a material fact required to be stated therein or necessary to make the statements therein not misleading, or any
violation by the Corporation of the Securities Act, the Exchange Act, any state securities law, or any rule or regulation
thereunder applicable to the Corporation and (without limitation of the preceding portions of this Section 8(a)) will
reimburse each such holder, each of its officers, directors, partners, members, managers, shareholders, accountants,
attorneys, agents and employees and each Person who controls each such holder and the officers, directors, partners, members,
managers, shareholders, accountants, attorneys, agents and employees of each such controlling person, each such
underwriter, and each Person who controls any such underwriter, for any legal and any other expenses reasonably incurred in
connection with investigating and defending or settling any such claim, Loss, damage, liability, or action, provided that the
Corporation will not be liable in any such case to the extent that any such claim, Loss, damage, liability, or expense arises
out of or is based on any untrue statement or omission by such holder or underwriter, but only to the extent, that such
untrue statement (or alleged untrue statement) or omission (or alleged omission) is made in such Registration Statement,
Prospectus, offering circular, or other document in reliance upon and in conformity with written information furnished to the
Corporation by such holder for use therein. It is agreed that the indemnity agreement contained in this Section 8(a) shall
not apply to amounts paid in settlement of any such Loss, claim, damage, liability, or action if such settlement is effected
without the consent of the Corporation (which consent shall not be unreasonably withheld).

 

(b)    Indemnification by Holder
of Registrable Securities. The Corporation may require, as a condition to including any Registrable Securities in any
registration statement filed in accordance with this Agreement, that the Corporation shall have received an undertaking
reasonably satisfactory to it from the prospective seller of such Registrable Securities to indemnify, to the fullest extent
permitted by law, severally and not jointly with any other holders of Registrable Securities, the Corporation, its directors
and officers and each Person who controls the Corporation (within the meaning of Section 15 of the Securities Act and Section
20 of the Exchange Act) and all other prospective sellers, from and against all Losses arising out of or based on any untrue
statement of a material fact contained in any such Registration Statement, Prospectus, offering circular, or other document,
or any omission to state therein a material fact required to be stated therein or necessary to make the statements therein
not misleading, and to (without limitation of the portions of this Section 8(b)) reimburse the Corporation, its directors and
officers and each Person who controls the Corporation (within the meaning of Section 15 of the Securities Act and Section 20
of the Exchange Act) and all other prospective sellers for any legal or any other expenses reasonably incurred in connection
with investigating or defending any such claim, Loss, damage, liability, or action, in each case to the extent, but only to
the extent, that such untrue statement or omission is made in such Registration Statement, Prospectus, offering circular, or
other document in reliance upon and in conformity with written information furnished to the Corporation by such holder for
inclusion in such Registration Statement, Prospectus, offering circular or other document; provided, however,
that the obligations of such holder under such undertaking shall not apply to amounts paid in settlement of any such claims,
Losses, damages, or liabilities (or actions in respect thereof) if such settlement is effected without the consent of such
holder (which consent shall not be unreasonably withheld); and provided, further, that the liability of such
holder of Registrable Securities shall be limited to the net proceeds received by such selling holder from the sale of
Registrable Securities covered by such Registration Statement.

 

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(c)    Conduct of Indemnification Proceedings.
If any Person shall be entitled to indemnity hereunder or under the undertaking contemplated by Section 8(b) (an “Indemnified
Party”), such Indemnified Party shall give prompt notice to the party from which such indemnity is sought (the “Indemnifying
Party”) of any claim or of the commencement of any Proceeding with respect to which such Indemnified Party seeks indemnification
or contribution pursuant hereto; provided, however, that the delay or failure to so notify the Indemnifying Party
shall not relieve the Indemnifying Party from any obligation or liability except to the extent that the Indemnifying Party has
been materially prejudiced by such delay or failure. The Indemnifying Party shall have the right, exercisable by giving written
notice to an Indemnified Party promptly after the receipt of written notice from such Indemnified Party of such claim or Proceeding,
to, unless in the Indemnified Party’s reasonable judgment a conflict of interest between such indemnified and indemnifying
parties may exist in respect of such claim, assume, at the Indemnifying Party’s expense, the defense of any such claim or
Proceeding, with counsel reasonably satisfactory to such Indemnified Party; provided, however, that an Indemnified
Party shall have the right to employ separate counsel in any such claim or Proceeding and to participate in the defense thereof,
but the fees and expenses of such counsel shall be at the expense of such Indemnified Party unless: (i) the Indemnifying Party
agrees to pay such fees and expenses; or (ii) the Indemnifying Party fails promptly to assume, or in the event of a conflict of
interest cannot assume, the defense of such claim or Proceeding or fails to employ counsel reasonably satisfactory to such Indemnified
Party, in which case the Indemnified Party shall have the right to employ separate counsel and to assume the defense of such claim
or proceeding at the Indemnifying Party’s expense; provided, further, however, that the Indemnifying
Party shall not, in connection with any one such claim or Proceeding or separate but substantially similar or related claims or
Proceedings in the same jurisdiction, arising out of the same general allegations or circumstances, be liable for the fees and
expenses of more than one firm of attorneys (together with appropriate local counsel) at any time for all of the Indemnified Parties,
or for fees and expenses that are not reasonable. Whether or not such defense is assumed by the Indemnifying Party, such Indemnifying
Party will not be subject to any liability for any settlement made without its consent (but such consent will not be unreasonably
withheld). The Indemnifying Party shall not consent to entry of any judgment or enter into any settlement that does not include
as an unconditional term thereof the giving by the claimant or plaintiff to such Indemnified Party of a release, in form and substance
reasonably satisfactory to the Indemnified Party, from all liability in respect of such claim or litigation for which such Indemnified
Party would be entitled to indemnification hereunder.

 

(d)    Contribution. If the indemnification
provided for in this Section 8 is unavailable to an Indemnified Party in respect of any Losses (other than in accordance with its
terms), then each applicable Indemnifying Party, in lieu of indemnifying such Indemnified Party, shall contribute to the amount
paid or payable by such Indemnified Party as a result of such Losses, in such proportion as is appropriate to reflect the relative
fault of the Indemnifying Party, on the one hand, and such Indemnified Party, on the other hand, in connection with the actions,
statements or omissions that resulted in such Losses as well as any other relevant equitable considerations. The relative fault
of such Indemnifying Party, on the one hand, and Indemnified Party, on the other hand, 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 omission or
alleged omission to state a material fact, has been made (or omitted) by, or relates to information supplied by, such Indemnifying
Party or Indemnified Party, and the parties” relative intent, knowledge, access to information and opportunity to correct
or prevent any such action, statement or omission.

 

The parties hereto agree that
it would not be just and equitable if contribution pursuant to this Section 8(d) were determined by pro rata allocation or by any
other method of allocation that does not take account of the equitable considerations referred to in the immediately preceding
paragraph. Notwithstanding the provisions of this Section 8(d), an Indemnifying Party that is a selling holder of Registrable Securities
shall not be required to contribute any amount in excess of the amount that such Indemnifying Party has otherwise been, or would
otherwise be, required to pay pursuant to Section 8(b) by reason of such untrue or alleged untrue statement or omission or alleged
omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be
entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation.

 

(e)    Notwithstanding the foregoing,
to the extent that the provisions on indemnification and contribution contained in the underwriting agreement entered into in connection
with the underwritten public offering are in conflict with the foregoing provisions, the provisions in the underwriting agreement
shall control.

 

    	13

    	 

    

Section 9.    Rule 144.

 

(a)    After an Initial Public Offering,
the Corporation shall (i) use reasonable best efforts to file the reports required to be filed by it under the Securities Act
and the Exchange Act in a timely manner, (ii) take such further action as any holder of Registrable Securities may reasonably
request, and (iii) furnish to each holder of Registrable Securities forthwith upon written request, (x) a written statement by
the Corporation as to its compliance with the reporting requirements of Rule 144, the Securities Act and the Exchange Act, (y)
a copy of the most recent annual or quarterly report of the Corporation, and (z) such other reports and documents so filed by
the Corporation as such holder may reasonably request in availing itself of Rule 144, all to the extent required from time to
time to enable such holder to sell Registrable Securities without registration under the Securities Act within the limitations
of the exemption provided by Rule 144. Upon the request of any holder of Registrable Securities, the Corporation shall deliver
to such holder a written statement as to whether it has complied with such requirements.

 

(b)    The foregoing provisions
of this Section 9 are not intended to modify or otherwise affect any restrictions on transfers of securities contained in the Partnership
Agreement.

 

Section 10.    Underwritten Registrations.
In connection with any underwritten offering, the investment banker or investment bankers and managers shall be selected by (i)
the Sponsor Investor Shareholder, in a Demand Registration or in the Initial Public Offering (if Registrable Securities are being
issued and sold in such Initial Public Offering), which selection shall be subject to approval by the Corporation, not to be unreasonably
withheld and (ii) the Corporation to administer any other offering, including any Piggyback Registration (other than the Initial
Public Offering (if Registrable Securities are being issued and sold in such Initial Public Offering)) and any Initial Public Offering
if Registrable Securities are not being issued and sold in such Initial Public Offering; provided that the Sponsor Limited Partner
and the Corporation acknowledge and agree that, subject to the Partnership Agreement, each shall consider, in good faith, using
the services of KKR Capital Markets LLC (or any related entity through which it conducts its business), as the investment banker
and/or manager, as appropriate.

 

No Person may participate in
any underwritten registration hereunder unless such Person (i) agrees to sell the Registrable Securities it desires to have covered
by a Registration Statement on the basis provided in any underwriting arrangements in customary form and (ii) completes and executes
all questionnaires, powers of attorney, indemnities, underwriting agreements and other documents required under the terms of such
underwriting arrangements, provided that such Person shall not be required to make any representations or warranties other than
those related to title and ownership of such Person’s Registrable Securities being sold and as to the accuracy and completeness
of statements made in a Registration Statement, Prospectus, offering circular, or other document in reliance upon and in conformity
with written information furnished to the Corporation or the managing underwriter by such Person for use therein.

 

Section 11.    Miscellaneous.

 

(a)    Amendments and Waivers.
The provisions of this Agreement, including the provisions of this sentence, may not be amended, modified or supplemented,
and waivers or consents to departures from the provisions hereof may not be given without the written consent of the Sponsor
Investor Shareholder; provided, however, that (x) any amendment, modification, supplement, waiver or consent to
departures from the provisions of this Agreement that would subject a Shareholder to adverse differential treatment relative
to the other Shareholders shall require the agreement of the differentially treated Shareholder and (y) any amendment,
modification, supplement, waiver or consent to departures from the provisions of this Agreement that would be adverse to a
right specifically granted to a specific Shareholder herein (but not to other Shareholders) shall require the agreement of
that Shareholder; and provided, further, that any adverse amendment, modification, supplement or waiver or
consent to departures from (i) the registration rights provisions or related cutback provisions contained in Section 3(c),
Section 3(f), Section 4(a), Section 4(b) and Section 4(c), (ii) Section 5, (iii) Section 9 and (iv) this Section 11(a),
including, in each such case, to any definitions used in such sections, shall require the consent of holders holding a
majority of the Registrable Securities covered hereby (excluding for such calculation, any Registrable Securities held by the
Sponsor Investor Shareholder). Notwithstanding the foregoing, a waiver or consent to depart from the provisions hereof with
respect to a matter that relates exclusively to the rights of holders of Registrable Securities whose securities are being
sold pursuant to a Registration Statement and that does not directly or indirectly affect the rights of other holders of
Registrable Securities may be given by holders of at least a majority of the Registrable Securities being sold by such
holders pursuant to such Registration Statement.

 

    	14

    	 

    

(b)    Notices. All notices
required to be given hereunder shall be in writing and shall be deemed to be duly given if personally delivered, telecopied and
confirmed, or mailed by certified mail, return receipt requested, or overnight delivery service with proof of receipt maintained,
at the following address (or any other address that any such party may designate by written notice to the other parties):

 

If to the Corporation, to the address of
its principal executive offices. If to any Shareholder, at such Shareholder’s address as set forth on the records of the
Corporation. Any such notice shall, if delivered personally, be deemed received upon delivery; shall, if delivered by telecopy,
be deemed received on the first business day following confirmation; shall, if delivered by overnight delivery service, be deemed
received the first business day after being sent; and shall, if delivered by mail, be deemed received upon the earlier of actual
receipt thereof or five business days after the date of deposit in the U.S. mail.

 

(c)    Successors and Assigns; Shareholder
Status. This Agreement shall inure to the benefit of and be binding upon the successors and permitted assigns of each of the
parties, including the Corporation and subsequent holders of Registrable Securities acquired, directly or indirectly, from the
Shareholders; provided, however, that such successor or assign shall not be entitled to such rights unless the successor
or assign shall have executed and delivered to the Corporation an Addendum Agreement substantially in the form of Exhibit A hereto
(which shall also be executed by the Corporation) promptly following the acquisition of such Registrable Securities, in which event
such successor or assign shall be deemed a Shareholder for purposes of this Agreement. Except as provided in Section 8 with respect
to an Indemnified Party, nothing expressed or mentioned in this Agreement is intended or shall be construed to give any Person
other than the parties hereto and their respective successors and permitted assigns any legal or equitable right, remedy or claim
under, in or in respect of this Agreement or any provision herein contained.

 

(d)    Counterparts. This Agreement
may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute
one and the same instrument.

 

(e)    Headings; Construction.
The section and paragraph headings contained in this Agreement are for reference purposes only and shall not affect in any
way the meaning or interpretation of this Agreement. Unless the context requires otherwise: (a) pronouns in the masculine,
feminine and neuter genders shall be construed to include any other gender, and words in the singular form shall be construed
to include the plural and vice versa; (b) the term “including” shall be construed to be expansive rather than
limiting in nature and to mean “including, without limitation,”; (c) references to sections and paragraphs refer
to sections and paragraphs of this Agreement; and (d) the words “this Agreement,” “herein,”
“hereof,” “hereby,” “hereunder” and words of similar import refer to this Agreement as a
whole, including Exhibit A hereto, and not to any particular subdivision unless expressly so limited.

 

(f)    Governing Law.
This Agreement shall be governed by and construed in accordance with, the laws of the State of Delaware without giving effect to
any otherwise governing principles of conflicts of law.

 

(g)    Severability. If any term,
provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction to be invalid, illegal, void
or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full force
and effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall use their best efforts to find
and employ an alternative means to achieve the same or substantially the same result as that contemplated by such term, provision,
covenant or restriction. It is hereby stipulated and declared to be the intention of the parties that they would have executed
the remaining terms, provisions, covenants and restrictions without including any of such that may be hereafter declared invalid,
illegal, void or unenforceable.

 

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

 

    	15

    	 

    

(i)    Securities Held by the Corporation
or its Subsidiaries. Whenever the consent or approval of holders of a specified percentage of Registrable Securities is required
hereunder, Registrable Securities held by the Corporation or its subsidiaries shall not be counted in determining whether such
consent or approval was given by the holders of such required percentage.

 

(j)    Specific
Performance. The parties hereto recognize and agree that money damages may be insufficient to compensate the holders of any
Registrable Securities for breaches by the Corporation of the terms hereof and, consequently, that the equitable remedy of specific
performance of the terms hereof will be available in the event of any such breach.

 

(k)    Actions
by GP; Actions by the Partnership. GP agrees to take, or cause to be taken, such actions as are necessary to effectuate
the rights of Shareholders hereunder, including making request and elections at the requests of members of GP in respect of
Registrable Securities held directly by GP. Similarly, if the Partnership shall be the holder of Registrable Securities, the
Partnership agrees to take, or cause to be taken, such actions as are necessary to effectuate the rights of the Shareholders
with respect to such Registrable Securities hereunder, including (i) making requests and elections at the request of the
limited partners of the Partnership in respect of the Registrable Securities held directly or indirectly by the Partnership
to the extent set forth in Section 4.1(f) and Section 15.11 of the Partnership Agreement, (ii) providing all notices to the
limited partners of the Partnership in respect of the Registrable Securities held directly or indirectly by the
Partnership that are provided to the Partnership in respect of such Registrable Securities in order to enable such limited
partners to effectuate the rights provided for herein to holders of Registrable Securities if such limited partners were the
direct holders of the Registrable Securities and (iii) passing on all rights provided for herein with respect to Registrable
Securities to its limited partners, in each case, solely to the extent such limited partners of the Partnership would have
such rights if they were the holders of such Registrable Securities. In the event the Partnership is causing such Registrable
Securities to be sold on behalf of one or more than one limited partner and the amount of such Registrable Securities to be
sold is the subject of any required cutback as provided herein, the cutback shall be calculated based on the amount of the
Registrable Securities allocable to each such limited partner of the Partnership (aggregating all limited partnership units
held or acquired by such limited partner and its Affiliates for purposes of the foregoing) (as if such limited partner was
selling such securities directly as provided hereunder). Neither GP nor the Partnership shall have any liability to any
Shareholder under this Section 11(1) for any act taken or omitted in good faith.

 

(l)    Term. This Agreement shall
terminate with respect to a Shareholder on the date on which such Shareholder ceases to hold Registrable Securities; provided,
that, such Shareholder’s rights and obligations pursuant to Section 8, as well as the
Corporation’s obligations to pay expenses pursuant to Section 7, shall survive with respect to any registration statement
in which any Registrable Securities of such Shareholders were included and, for the avoidance of doubt, any underwriter lock-up
that a Shareholder has executed prior to a Shareholder’s termination in accordance with this clause shall remain in effect
in accordance with its terms.

 

(m)    Consent to Jurisdiction; Waiver
of Jury Trial. In any judicial proceeding involving any dispute, controversy or claim arising out of or relating to this Agreement,
each of the Shareholders and the Partnership unconditionally accepts the nonexclusive jurisdiction and venue of any United States
District Court located in the State of Delaware, or of the Court of Chancery of the State of Delaware, and the appellate courts
to which orders and judgments thereof may be appealed. In any such judicial proceeding, the Shareholders and the Partnership agree
that in addition to any method for the service of process permitted or required by such courts, to the fullest extent permitted
by Law, service of process may be made by delivery provided pursuant to the directions in Section 15.2 of the Partnership Agreement.
The parties hereby irrevocably waive, to the fullest extent permitted by Law, any objection which they may now or hereafter have
to the laying of venue of any dispute arising out of or relating to this Agreement or any of the transactions contemplated hereby
brought in such court or any defense of inconvenient forum for the maintenance of such dispute. Each of the parties hereto agrees
that a judgment in any such dispute may be enforced in other jurisdictions by suit on the judgment or in any other manner provided
by law. This consent to jurisdiction is being given solely for purposes of this Agreement and is not intended to, and shall not,
confer consent to jurisdiction with respect to any other dispute in which a party to this Agreement may become involved.

 

Each of the parties
hereto hereby consents to process being served by any party to this Agreement in any suit, action, or proceeding of the
nature specified in the paragraph above by the mailing of a copy thereof in the manner specified by the provisions of
subsection (b) of this Section 11.

 

EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY
WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT.

 

[Signature Page Follows]

 

    	16

    	 

    

IN WITNESS WHEREOF,
the parties hereto have caused this Registration Rights Agreement to be duly executed as of the date first above written.

 

	 	KKR RENAISSANCE AGGREGATOR L.P.
	 	 
	 	By: KKR Renaissance Aggregator GP LLC, its general partner
	 	 	 	 
	 	By:	/s/ William Janetschek
	 	 	Name:	William Janetschek
	 	 	Title:	Vice President

 

	 	KKR RENAISSANCE AGGREGATOR GP LLC
	 	 	 	 
	 	By:	/s/ William Janetschek
	 	 	Name:	William Janetschek
	 	 	Title:	Vice President

 

	 	RENAISSANCE PARENT CORP.
	 	 	 	 
	 	By:	/s/ Josh Weisenbeck
	 	 	Name:	Josh Weisenbeck
	 	 	Title:	Vice President

 

[Registration Rights
Agreement Signature Page]

 

    	 

    	 

    

EXHIBIT A

 

ADDENDUM AGREEMENT

 

This Addendum Agreement is made this__day
of___________, 20__, by and between_______________________________(the “New Shareholder”) and [the
IPO Corporation](the “Corporation”), pursuant to a Registration Rights Agreement dated as of [     ] (the
“Agreement”), by and among the Corporation, the Partnership, CH GP and the Shareholders. Capitalized terms used
herein but not otherwise defined herein shall have the meanings ascribed to them in the Agreement.

 

WITNESSETH:

 

WHEREAS, the Corporation has
agreed to provide registration rights with respect to the Registrable Securities as set forth in the Agreement; and

 

WHEREAS, the New Shareholder
has acquired Registrable Securities directly or indirectly from a Shareholder; and

 

WHEREAS, the Corporation and the Shareholders
have required in the Agreement that all persons desiring registration rights must enter into an Addendum Agreement binding the
New Shareholder to the Agreement to the same extent as if it were an original party thereto;

 

NOW, THEREFORE, in consideration of the
mutual promises of the parties, the New Shareholder acknowledges that it has received and read the Agreement and that the New Shareholder
shall be bound by, and shall have the benefit of, all of the terms and conditions set out in the Agreement to the same extent as
if it were an original party to the Agreement and shall be deemed to be a Shareholder thereunder.

 

	 	 	 	 
	 	 	New Shareholder	 
	 	 	 	 
	
        Address: 
	 	 	 
	 	 	 	 
	 	 	 	 

 

    	Exhibit A-1

    	 

    

AGREED TO on behalf of [the Corporation] pursuant to Section
11(c) of the Agreement.

 

	 	[THE CORPORATION]
	 	 
	 	By:	 
	 	 
	 	 
	 	Printed Name and Title

 

    	Exhibit A-2

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