Document:

EX-4.2

 Exhibit 4.2 

REGISTRATION RIGHTS AGREEMENT 

This REGISTRATION RIGHTS AGREEMENT (this “Agreement”), dated as of December 15, 2017, is entered into by and among Avaya
Holdings Corp., a Delaware corporation (the “Company”), the Persons who are signatories to this Agreement on the signature pages hereto and the other Persons who become signatories hereto following the date hereof (collectively,
“Holders”). 
 WHEREAS, in accordance with the Plan (as hereinafter defined), the Company has agreed to grant to the
Holders the registration rights set forth herein. 
 NOW, THEREFORE, pursuant to the obligations of the Company and the Holders under the
Plan and in consideration of the premises, mutual covenants and agreements hereinafter contained, and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto agree as follows: 

ARTICLE I 
 DEFINITIONS

 SECTION 1.1. Definitions. In addition to the definitions set forth above, the following terms, as used herein, have the
following meanings: 
 “Affiliate” means, with respect to any Person, any other Person who, directly or indirectly through
one or more intermediaries, controls, is controlled by, or is under common control with such Person, including portfolio companies of any of the foregoing Persons and managed funds and accounts of any of the foregoing Persons. The term
“Affiliated” shall have a correlative meaning. 
 “Agreement” shall have the meaning set forth in the
introductory paragraph hereof. 
 “Business Day” means any day other than a Saturday, Sunday or a day on which state or
federally chartered banking institutions in New York City, New York are not required to be opened. 
 “Board of Directors”
means the board of directors of the Company. 
 “Commission” means the United States Securities and Exchange Commission.

 “Common Stock” means the common stock, par value $0.01 per share, of the Company, and any shares or capital stock for or
into which such common stock hereafter is exchanged, converted, reclassified or recapitalized by the Company or pursuant to an agreement to which the Company is a party. 

“Common Stock Equivalents” means, without duplication, Common Stock, Warrants and any rights, warrants, options, convertible
securities or Indebtedness, exchangeable securities or Indebtedness, or other rights, exercisable for or convertible or exchangeable into, directly or indirectly, Common Stock and securities convertible or exchangeable into Common Stock, whether at
the time of issuance or upon the passage of time or the occurrence of some future event. 

 “Company Initiated Resale Registration” shall have the meaning set forth in
SECTION 2.1(a). 
 “Company Underwriter” shall have the meaning set forth in SECTION 2.1(c). 

“Contracting Parties” shall have meaning set forth in SECTION 3.10. 

“Demand Registration” shall have the meaning set forth in SECTION 2.1(a). 

“Effective Date” shall have the meaning set forth in the Plan. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 “FINRA” means Financial Industry Regulatory Authority, Inc. 

“Governmental Authority” means the government of any nation, state, city, locality or other political subdivision thereof,
any entity exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government, and any corporation or other entity owned or controlled, through stock or capital ownership or otherwise, by any of the
foregoing. 
 “Holdback Period” shall have the meaning set forth in SECTION 2.6(a). 

“Holder” shall have the meaning set forth in the introductory paragraph hereof, and “Holders” means all
Holders, collectively. 
 “Holders’ Counsel” shall have meaning set forth in SECTION 2.7(a)(i). 

“IM Underwriter” shall have meaning set forth in SECTION 2.1(c). 

“Incidental Registration” shall have the meaning set forth in SECTION 2.2(a). 

“Indemnified Party” shall have meaning set forth in SECTION 2.11(c). 

“Indemnifying Party” shall have meaning set forth in SECTION 2.11(c). 

“Initiating Demand Holders” shall have the meaning set forth in SECTION 2.1(a). 

“Liability” shall have the meaning set forth in SECTION 2.11(a). 

“NASDAQ” means the Nasdaq Stock Market. 

“Non-Initiating Holders” shall have the meaning set forth in SECTION 2.2(a).

 “Non-party Affiliates” shall have meaning set forth in SECTION 3.10. 

  
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 “NYSE” means the New York Stock Exchange. 

“Person” means any individual, corporation, company, voluntary association, partnership, joint venture, limited liability
company, trust, estate, unincorporated organization, Governmental Authority or other entity and shall include any “group” within the meaning of the regulations promulgated by the Commission under Section 13(d) of the Exchange Act.

 “Plan” means the Second Amended Joint Chapter 11 Plan of Reorganization of Avaya Inc. and its Debtor Affiliates, Case No. 17-10089 (SMB). 
 “Records” shall have the meaning set forth in SECTION
2.7(a)(vii). 
 “Registrable Securities” means any Common Stock (including any issuable or issued upon exercise,
exchange or conversion of any Common Stock Equivalents) or Warrants at any time owned, either of record or beneficially, by any Holder and any additional securities that may be issued or distributed or be issuable in respect of any Common Stock or
Warrants by way of conversion, dividend, stock-split, distribution or exchange, merger, consolidation, exchange, recapitalization or reclassification or similar transactions until a registration statement covering such securities has been declared
effective by the Commission and such securities have been disposed of pursuant to such effective registration statement. For the avoidance of doubt, Registrable Securities includes any Warrants and any Common Stock issuable upon exercise of
Warrants. 
 “Resale Shelf Take-Down” shall have the meaning set forth in SECTION 2.5(d). 

“Rule 144” means Rule 144 promulgated under the Securities Act, as amended from time to time, or any similar successor rule
thereto that may be promulgated by the Commission. 
 “S-1 Initiating Take-Down
Holder” shall have the meaning set forth in SECTION 2.5(b). 
 “S-1 Resale
Shelf Take-Down” shall have the meaning set forth in SECTION 2.5(b). 
 “S-1
Shelf Initiating Holder” shall have the meaning set forth in SECTION 2.5(a). 

“S-1 Shelf Registration” shall have the meaning set forth in SECTION 2.5(a)

 “S-1 Shelf Registration Statement” shall have the meaning set forth in
SECTION 2.5(a). 
 “S-1 Underwritten Shelf Take-Down” shall have the meaning
set forth in SECTION 2.5(b). 
 “S-3 Initiating Take-Down Holder” shall have
the meaning set forth in SECTION 2.5(d). 
 “S-3 Resale Shelf Take-Down”
shall have the meaning set forth in SECTION 2.5(d). 
 “S-3 Shelf Initiating
Holder” shall have the meaning set forth in SECTION 2.5(c). 
 “S-3 Shelf
Registration Statement” shall have the meaning set forth in SECTION 2.5(c). 

  
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 “S-3 Underwritten Shelf Take-Down” shall
have the meaning set forth in SECTION 2.5(d). 
 “Securities Act” means the Securities Act of 1933, as amended, and the
rules and regulations promulgated by the Commission thereunder. 
 “Shelf Registration Statement” shall have the meaning
set forth in SECTION 2.5(c). 
 “Subsidiary” means, with respect to any Person, any other Person, whether incorporated or
unincorporated, in which the Company or any one or more of its other Subsidiaries, directly or indirectly, owns or controls: (i) fifty percent (50%) or more of the securities or other ownership interests, including profits, equity or beneficial
interests; or (ii) securities or other interests having by their terms ordinary voting power to elect more than fifty percent (50%) of the board of directors or others performing similar functions with respect to such other Person that is not a
corporation. 
 “Underwritten Shelf Take-Down” shall have the meaning set forth in SECTION 2.5(d). 

“Valid Business Reason” shall have the meaning set forth in SECTION 2.1(b). 

“Warrants” means warrants distributed pursuant to the Plan to holders of Class 4 Second Lien Notes Claims (as defined in
the Plan). 
 ARTICLE II 

REGISTRATION RIGHTS 

SECTION 2.1. Demand Registration Right.  

(a) From and after the date that is three (3) months after the Effective Date, at any time the Company does not qualify for the use of
Form S-3 promulgated under the Securities Act (or any successor form to Form S-3, or any similar short-form Registration Statement), (i) each Holder or group of Holders, which collectively hold an aggregate of at least ten percent (10%) of the
outstanding Common Stock (with all Warrants considered on a fully exercised basis for purposes of both the numerator and denominator) (collectively, the “Initiating Demand Holders”), may make a written request (specifying the
intended method of disposition and the amount of Registrable Securities proposed to be sold) that the Company effect, and the Company shall use its reasonable best efforts to effect, a registration of its Common Stock and/or its Warrants under the
Securities Act (a “Demand Registration”) of all or any requested portion of the Registrable Securities collectively held by such Holders (subject to SECTION 2.4(a)) or (ii) the Board of Directors may determine to commence a
registration of Common Stock and/or Warrants held by Holders under the Securities Act (a “Company Initiated Resale Registration”), and the Company shall use its reasonable best efforts to effect a registration of its Common Stock
and/or Warrants for all Holders that exercise piggyback registration rights under SECTION 2.2 (subject to SECTION 2.4(a)). 

  
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 (b) If the Board of Directors, in its good faith judgment, determines that any registration of
the Registrable Securities pursuant to a Demand Registration or a Company Initiated Resale Registration should not be made or continued because it would materially interfere with any material financing, acquisition, corporate reorganization or
merger or other material transaction involving the Company (a “Valid Business Reason”), the Company may (i) postpone filing a Registration Statement relating to a Demand Registration or a Company Initiated Resale Registration
until such Valid Business Reason no longer exists, but in no event for more than one hundred and five (105) days, and (ii) in case a Registration Statement has been filed relating to a Demand Registration or a Company Initiated Resale
Registration, if the Valid Business Reason has not resulted from actions taken by the Company, the Company, upon the approval of a majority of the Board of Directors, acting in good faith, (x) may cause such Registration Statement to be
withdrawn and its effectiveness terminated, provided, however, that a new Registration Statement is filed within one hundred and five (105) days thereafter, or (y) may postpone amending or supplementing such Registration
Statement, but in no event for more than one hundred and five (105) days; provided, however, that if the registration of Registrable Securities is postponed or withdrawn pursuant to this SECTION 2.1(b), the Company shall
not be permitted to register under the Securities Act any Common Stock or Warrants, other than Common Stock or other equity securities to be issued in connection with an acquisition, during any such postponement or during the period from such
withdrawal to the filing of such new Registration Statement. The Company shall give written notice of its determination to postpone or withdraw a Registration Statement and of the fact that the Valid Business Reason for such postponement or
withdrawal no longer exists, in each case, promptly after the occurrence thereof. Notwithstanding anything to the contrary contained herein, the Company may not postpone or withdraw a filing or filings under this SECTION 2.1 (i) more than
twice in any twelve (12) month period, or (ii) for more than one hundred and eighty (180) days, in the aggregate for all such postponements or withdrawals, in any twelve (12) month period. For the avoidance of doubt, any
postponement or withdrawal of a Registration Statement for a Demand Registration shall result in the related registration of Registrable Securities not constituting a Demand Registration for purposes of SECTION 2.3 hereof. 

(c) The Company shall use its reasonable best efforts to cause any Demand Registration to be in the form of a firm commitment underwritten
offering and the managing underwriter or underwriter selected for such offering shall be selected by the Initiating Demand Holders (the “IM Underwriter”), which must be reasonably acceptable to the Company; provided that the
Initiating Demand Holders may delegate their rights under this sentence to the Board of Directors. In connection with any Demand Registration under this SECTION 2.1 involving an underwritten offering, none of the Registrable Securities held
by an Initiating Demand Holder making a request for inclusion of such Registrable Securities shall be included in such underwritten offering unless such Initiating Demand Holder accepts the terms of the offering as agreed upon by the Company and the
IM Underwriter, such terms to be in an underwriting agreement in customary form; provided, that no such Person shall be required to make any representations or warranties, or provide any indemnity, in connection with any such registration other than
representations and warranties (or indemnities with respect thereto) as to (i) such Person’s ownership of his, her or its Registrable Securities to be transferred free and clear of all liens, claims, and encumbrances, (ii) such
Person’s power and authority to effect such transfer, (iii) such matters pertaining to compliance with securities laws by such Person as may be reasonably requested, and (iv) such other matters customarily included in representations,
warranties or indemnities by selling securityholders in offerings of such type as may be reasonably requested; provided, further, that the obligation of such Person to indemnify pursuant to any such underwriting arrangements shall be several, not
joint and several, among such 

  
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Persons selling Registrable Securities, and the liability of each such Person will be in proportion thereto, and provided, further, that such liability will be limited to the net proceeds
received by such Person from the sale of his, her or its Registrable Securities pursuant to such registration. The Company shall use its reasonable best efforts to cause any Company Initiated Resale Registration to be in the form of a firm
commitment underwritten offering and the managing underwriter or underwriter selected for such offering shall be selected by the Company (such managing underwriter or underwriter, or any other managing underwriter or underwriter selected by the
Company pursuant to SECTION 2.2(b), the “Company Underwriter”). 
 SECTION 2.2. Piggyback Registration Right.

 (a) Within ten (10) Business Days following receipt by the Company of a request from the Initiating Demand Holders to effect a Demand
Registration, the Company shall give written notice of such request to each other Holder (the “Non-Initiating Holders”) which shall describe the anticipated filing date, the proposed
registration and plan of distribution, and offer the Non-Initiating Holders the opportunity to register their Registrable Securities (an “Incidental Registration”) in such registration.
Following the receipt of such notice, each Non-Initiating Holder shall be entitled, by delivery of a written request to the Company delivered no later than ten (10) Business Days following receipt of
notice from the Company, to include all or any portion of their Registrable Securities in such Demand Registration (subject to SECTION 2.4(a)). The right of each Non-Initiating Holder to have
Registrable Securities included in a Demand Registration pursuant to this SECTION 2.2(a) shall be conditioned upon each Non-Initiating Holder entering into (together with the Initiating Demand Holders)
an underwriting agreement in customary form with the IM Underwriter on the same terms as the Initiating Demand Holders. Subject to SECTION 2.4, the Company shall use its reasonable best efforts (within ten (10) Business Days of the
notice provided for above) to cause the IM Underwriter to permit the Non-Initiating Holders to participate in the Incidental Registration to include their Registrable Securities in such offering on the same
terms and conditions as the Registrable Securities being sold for the account of the Initiating Demand Holders. 
 (b) In connection with any
Company Initiated Resale Registration or any other registration by the Company, whether for its own account or for the benefit of any Holders or both (other than a registration statement on Form S-4 or S-8 or any successor thereto), the Company shall give written notice to all Holders at least twenty (20) Business Days prior to the proposed filing date of the Registration Statement. Following the receipt of
such notice, each Holder shall be entitled, by delivery of a written request to the Company delivered no later than ten (10) Business Days following receipt of notice from the Company, to include all or any portion of its Registrable Securities
in such offering (subject to SECTION 2.4(b)). The right of each Holder to have Registrable Securities included in an offering pursuant to this SECTION 2.2(b) shall be conditioned (if an underwritten offering) upon each Holder entering
into (together with the Company) an underwriting agreement in customary form with the Company Underwriter. Subject to SECTION 2.4, the Company shall use its reasonable best efforts (within ten (10) Business Days of the notice provided
for above) to cause the Company Underwriter to permit the Holders to participate in a registration pursuant to this SECTION 2.2(b) to include their Registrable Securities in such offering on the same terms and conditions as the Registrable
Securities being sold for the account of the Company or any other Holder; provided, that no such 

  
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Person shall be required to make any representations or warranties, or provide any indemnity, in connection with any such registration other than representations and warranties (or indemnities
with respect thereto) as to (i) such Person’s ownership of his, her or its Registrable Securities to be transferred free and clear of all liens, claims, and encumbrances, (ii) such Person’s power and authority to effect such
transfer, (iii) such matters pertaining to compliance with securities laws by such Person as may be reasonably requested, and (iv) such other matters customarily included in representations, warranties or indemnities by selling
securityholders in offerings of such type as may be reasonably requested; provided, further, that the obligation of such Person to indemnify pursuant to any such underwriting arrangements shall be several, not joint and several, among such Persons
selling Registrable Securities, and the liability of each such Person will be in proportion thereto, and provided, further, that such liability will be limited to the net proceeds received by such Person from the sale of his, her or its Registrable
Securities pursuant to such registration. 
 SECTION 2.3. Effective Demand Registration. The Company shall use its reasonable best
efforts to cause any Demand Registration or Company Initiated Resale Registration to become effective not later than one hundred and twenty (120) days after it receives a request under SECTION 2.1(a) hereof or the Board of Directors
makes a determination under SECTION 2.1(a) hereof and to remain effective for the lesser of (i) the period during which all Common Stock and/or Warrants registered in the Demand Registration are sold and (ii) one hundred and twenty
(120) days, provided, however, that a registration shall not constitute a Demand Registration if (x) after such Demand Registration has become effective, such registration or the related offer, sale or distribution of
Registrable Securities thereunder is interfered with by any stop order, injunction or other order or requirement of the Commission or other Governmental Authority for any reason not materially attributable to any of the Initiating Demand Holders and
such interference is not thereafter eliminated or (y) the conditions specified in the underwriting agreement, if any, entered into in connection with such Demand Registration are not satisfied or waived, other than by reason of a failure by the
Initiating Demand Holders. Subject to the exceptions described in SECTION 2.1, SECTION 2.5 and this SECTION 2.3, the Company shall only be obligated to effect an aggregate of six (6) Demand Registrations, S-1 Shelf Registrations and S-1 Underwritten Shelf Take-Downs under this Agreement and shall not be required to effect more than one (1) Demand Registration or S-1 Shelf Registration in any six month period or more than one (1) S-1 Underwritten Shelf Take-Down in any six month period. 

SECTION 2.4. Cutback. 

(a) 
 (i) With
respect to any Demand Registration, any Company Initiated Resale Registration, any Underwritten Shelf Take-Down, in each case that does not include Registrable Securities being sold for the account of the Company, or any other registration for an
underwritten offering that does not include Registrable Securities being sold for the account of the Company, if the Company shall reasonably determine (after consultation with the relevant underwriter) that the amount of Registrable Securities
requested to be included in such registration, including Registrable Securities requested to be included pursuant to SECTION 

  
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2.2, exceeds the amount which can be sold in such offering without adversely affecting the distribution of the Registrable Securities being offered, then the Company will reduce the Registrable
Securities to be included in such offering pro rata based on the amount of Common Stock (with all Warrants considered on a fully exercised basis for purposes of both the numerator and denominator) owned by each Holder requesting to include
Registrable Securities in such registration under any of SECTION 2.1, SECTION 2.2 or SECTION 2.5. 
 (ii) With respect to any
Demand Registration, any Company Initiated Resale Registration or any Underwritten Shelf Take-Down that does include Registrable Securities being sold for the account of the Company, if the Company shall reasonably determine (after consultation with
the relevant underwriter) that the amount of Registrable Securities being sold for the account of the Company together with the Registrable Securities requested by the Holders to be included in such registration, including Registrable Securities
requested to be included pursuant to SECTION 2.2, exceeds the amount which can be sold in such offering without adversely affecting the distribution of the Registrable Securities being offered, then the Company will reduce the Registrable Securities
to be included in such offering by (i) first only including the total number of Registrable Securities of the Holders in such offering with each such Holder entitled to include its pro rata share based on the number of shares of Common
Stock (with all Warrants considered on a fully exercised basis for purposes of both the numerator and denominator) that are owned by such Holder and constitute Registrable Securities and (ii) second, to the extent that all Registrable
Securities of the Holders can be included, then only including the total number of Registrable Securities being sold for the account of the Company that the Company so determines can be included. 

(b) If the Company reasonably determines (after consultation with the relevant underwriter) that the amount of Registrable Securities requested
to be included in an underwritten offering contemplated by SECTION 2.2(b) (other than a registration subject to SECTION 2.4(a)) exceeds the amount which can be sold in such offering without adversely affecting the distribution of the
Registrable Securities being offered, then the Company will reduce the Registrable Securities to be included in such offering by (i) first only including the Registrable Securities (or portion thereof) being sold for the account of the Company
that the Company so determines can be included and (ii) second, to the extent that all Registrable Securities being sold for the account of the Company can be included, then only including the total number of Registrable Securities of the
Holders in such offering as the Company so determines can be included (in addition to all such Registrable Securities being sold for the account of the Company) with each such Holder entitled to include its pro rata share based on the number
of shares of Common Stock (with all Warrants considered on a fully exercised basis for purposes of both the numerator and denominator) that are owned by such Holder and constitute Registrable Securities. 

  
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 SECTION 2.5. Shelf Registration. 

(a) S-1 Shelf Registrations. From and after the date that is three (3) months after the
Effective Date, at any time the Company does not qualify for the use of Form S-3 promulgated under the Securities Act (or any successor form to Form S-3, or any similar
short-form Registration Statement), upon receipt of a written request from any Holder or group of Holders, which collectively hold (together with its Affiliates) an aggregate of at least ten percent (10%) of the outstanding Common Stock (with all
Warrants considered on a fully exercised basis for purposes of both the numerator and denominator) (the “S-1 Shelf Initiating Holder”) that the Company file a Shelf Registration Statement on
Form S-1 for an offering on a continuous basis pursuant to Rule 415 under the Securities Act (an “S-1 Shelf Registration Statement”) covering the resale
of all or a portion of the Registrable Securities owned by such S-1 Shelf Initiating Holder (an “S-1 Shelf Registration”), the Company shall give
written notice of such request to each other Holder at least twenty (20) Business Days before the anticipated filing date of such Form S-1, and such notice shall describe the proposed registration and
offer such other Holders the opportunity to register all or any portion of their Registrable Securities as each other Holder may elect, by written notice given to the Company within ten (10) Business Days after their receipt from the Company of
the written notice of such S-1 Shelf Registration. The Company shall include in such registration all Registrable Securities that the S-1 Shelf Initiating Holder
requested to include, and shall use its reasonable best efforts to (x) cause such registration pursuant to this SECTION 2.5(a) to become and remain effective as soon as practicable, but in any event not later than one hundred and twenty
(120) days after it receives a request therefor and (y) include in such registration all Registrable Securities requested to be included by the other Holders (other than the S-1 Shelf Initiating
Holder) who have timely elected to participate in such Shelf Registration Statement, on the same terms and conditions as the Registrable Securities of the S-1 Shelf Initiating Holder. 

(b) S-1 Shelf Take-Downs. Following the effectiveness of an
S-1 Shelf Registration Statement, any Holder or group of Holders whose Registrable Securities are included on such Shelf Registration Statement and which collectively hold (together with its Affiliates) an
aggregate of at least ten percent (10%) of the outstanding Common Stock (with all Warrants considered on a fully exercised basis for purposes of both the numerator and denominator) (the “S-1 Initiating
Take-Down Holder”) may request that the Company engage in an underwritten resale of Registrable Securities pursuant to such S-1 Shelf Registration Statement (an
“S-1 Underwritten Shelf Take-Down”) or prepare a prospectus supplement for a non-underwritten resale pursuant to such
S-1 Shelf Registration Statement (an “S-1 Resale Shelf Take-Down”). In connection with any S-1 Underwritten
Shelf Take-Down, each Holder agrees, in an effort to conduct such S-1 Underwritten Shelf Take-Down in the most efficient and organized manner, to coordinate with any other Holders prior to initiating any sales
efforts and cooperate with the other Holder(s) as to the terms of such S-1 Underwritten Shelf Take-Down, including the aggregate amount of securities to be sold and the number of Registrable Securities to be
sold by each Holder. In furtherance of the foregoing, the Company shall give prompt notice to any non-initiating Holder (if such Holder’s Registrable Securities are included in the S-1 Shelf Registration Statement) of the receipt of a request from the S-1 Initiating Take-Down Holder of a proposed S-1 Underwritten
Shelf Take-Down under and pursuant to the S-1 Shelf Registration Statement and, notwithstanding anything to the contrary contained herein, will provide such other Holders a period of five (5) Business
Days to participate in such S-1 Underwritten Shelf Take-Down, subject to the terms negotiated by and applicable to the S-1 Initiating Take-Down Holder and subject to
“cutback” limitations set forth in SECTION 2.4. All such Holders electing to be included in an S-1 Underwritten Shelf Take-Down must sell their Registrable Securities on the same terms and
conditions as the Registrable Securities being sold for the account of the S-1 

  
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Initiating Take-Down Holder; provided, that no such Person shall be required to make any representations or warranties, or provide any indemnity, in connection with any such registration other
than representations and warranties (or indemnities with respect thereto) as to (i) such Person’s ownership of his, her or its Registrable Securities to be transferred free and clear of all liens, claims, and encumbrances, (ii) such
Person’s power and authority to effect such transfer, (iii) such matters pertaining to compliance with securities laws by such Person as may be reasonably requested, and (iv) such other matters customarily included in representations,
warranties or indemnities by selling securityholders in offerings of such type as may be reasonably requested; provided, further, that the obligation of such Person to indemnify pursuant to any such underwriting arrangements shall be several, not
joint and several, among such Persons selling Registrable Securities, and the liability of each such Person will be in proportion thereto, and provided, further, that such liability will be limited to the net proceeds (after deducting for
underwriting discounts and commissions) received by such Person from the sale of his, her or its Registrable Securities pursuant to such registration. 

(c) S-3 Shelf Registrations. If at such time the Company qualifies for the use of Form S-3 promulgated under the Securities Act (or any successor form to Form S-3, or any similar short-form Registration Statement) (an
“S-3 Shelf Registration Statement,” and together with an S-1 Shelf Registration Statement, a “Shelf Registration Statement”), upon
receipt of a written request from any Holder or group of Holders, which collectively hold (together with its Affiliates) an aggregate of at least five percent (5%) of the outstanding Common Stock (with all Warrants considered on a fully exercised
basis for purposes of both the numerator and denominator) (the “S-3 Initiating Holder”) that the Company file an S-3 Shelf Registration Statement
covering the resale of all or a portion of the Registrable Securities owned by such S-3 Initiating Holder, the Company shall give written notice of such request to each other Holder at least twenty
(20) Business Days before the anticipated filing date of such Form S-3, and such notice shall describe the proposed registration and offer such other Holders the opportunity to register all or any portion
of their Registrable Securities as each other Holder may request in writing to the Company, given within ten (10) Business Days after their receipt from the Company of the written notice of such registration. If requested by the S-3 Initiating Holder, such S-3 Shelf Registration Statement shall be for an offering on a continuous basis pursuant to Rule 415 under the Securities Act. The Company shall
use its reasonable best efforts to (x) cause such registration pursuant to this SECTION 2.5(c) to become and remain effective as soon as practicable, but in any event not later than forty-five (45) days after it receives a request
therefor and (y) include in such registration the Registrable Securities of the other Holders (other than the S-3 Initiating Holder) who have requested in writing to participate in such S-3 Shelf Registration Statement on the same terms and conditions as the Registrable Securities of the S-3 Initiating Holder. 

(d) S-3 Shelf Take-Downs. Following the effectiveness of an
S-3 Shelf Registration Statement, any Holder or group of Holders whose Registrable Securities are included on such S-3 Shelf Registration Statement and which
collectively hold (together with its Affiliates) an aggregate of at least five percent (5%) of the outstanding Common Stock (with all Warrants considered on a fully exercised basis for purposes of both the numerator and denominator) (the “S-3 Initiating Take-Down Holder”) may request that the Company engage in an underwritten resale of Registrable Securities pursuant to such S-3 Shelf Registration
Statement (an “S-3 Underwritten Shelf Take-Down,” and together with an S-1 Underwritten Shelf Take-Down, an

  
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“Underwritten Shelf Take-Down”) or prepare a prospectus supplement for a non-underwritten resale pursuant to such S-3 Shelf Registration Statement (an “S-3 Resale Shelf Take-Down,” and together with an S-1 Resale Shelf
Take-Down,” a “Resale Shelf Take-Down”). In connection with any S-3 Underwritten Shelf Take-Down, each Holder agrees, in an effort to conduct such
S-3 Underwritten Shelf Take-Down in the most efficient and organized manner, to coordinate with any other Holders prior to initiating any sales efforts and cooperate with the other Holder(s) as to the terms of
such S-3 Underwritten Shelf Take-Down, including the aggregate amount of securities to be sold and the number of Registrable Securities to be sold by each Holder. In furtherance of the foregoing, the Company
shall give prompt notice to any non-initiating Holder (if such Holder’s Registrable Securities are included in the S-3 Shelf Registration Statement) of the receipt
of a request from the S-3 Initiating Take-Down Holder of a proposed S-3 Underwritten Shelf Take-Down under and pursuant to the
S-3 Shelf Registration Statement and, notwithstanding anything to the contrary contained herein, will provide such other Holders a period of five (5) Business Days to participate in such S-3 Underwritten Shelf Take-Down, subject to the terms negotiated by and applicable to the S-3 Initiating Take-Down Holder and subject to “cutback” limitations set
forth in SECTION 2.4. All such Holders electing to be included in an S-3 Underwritten Shelf Take-Down must sell their Registrable Securities on the same terms and conditions as the Registrable
Securities being sold for the account of the S-3 Initiating Take-Down Holder; provided, that no such Person shall be required to make any representations or warranties, or provide any indemnity, in connection
with any such registration other than representations and warranties (or indemnities with respect thereto) as to (i) such Person’s ownership of his, her or its Registrable Securities to be transferred free and clear of all liens, claims,
and encumbrances, (ii) such Person’s power and authority to effect such transfer, (iii) such matters pertaining to compliance with securities laws by such Person as may be reasonably requested, and (iv) such other matters
customarily included in representations, warranties or indemnities by selling securityholders in offerings of such type as may be reasonably requested; provided, further, that the obligation of such Person to indemnify pursuant to any such
underwriting arrangements shall be several, not joint and several, among such Persons selling Registrable Securities, and the liability of each such Person will be in proportion thereto, and provided, further, that such liability will be limited to
the net proceeds (after deducting for underwriting discounts and commissions) received by such Person from the sale of his, her or its Registrable Securities pursuant to such registration. 

(e) Delay of Shelf Registration or Shelf Take-Down. If the Board of Directors has a Valid Business Reason, the Company may
(x) postpone filing a Registration Statement or prospectus supplement relating to a Shelf Registration Statement, Underwritten Shelf Take-Down or Resale Shelf Take-Down until such Valid Business Reason no longer exists, but in no event for more
than ninety (90) days, and (y) in case a Registration Statement or prospectus supplement has been filed relating to a Shelf Registration Statement, Underwritten Shelf Take-Down or Resale Shelf Take-Down, if the Valid Business Reason has
not resulted from actions taken by the Company, the Company, upon the approval of a majority of the Board of Directors acting in good faith, may cause the applicable Registration Statement to be withdrawn and its effectiveness terminated,
provided, however, that a new Registration Statement (and prospectus supplement, if applicable) is filed within ninety (90) days thereafter, or may postpone amending or supplementing such Registration Statement or prospectus
supplement, but in no event for more than ninety (90) days; provided, however, that if the registration of Registrable Securities is postponed or withdrawn pursuant to this SECTION 2.5(e), the Company shall not be permitted

  
 11 

 
to register under the Securities Act any Common Stock or Warrants, other than shares of Common Stock or other equity securities to be issued in connection with an acquisition, during any such
postponement or during the period from such withdrawal to the filing of such new Registration Statement. The Company shall give written notice to the Holders of its determination to postpone or withdraw a Registration Statement and of the fact that
the Valid Business Reason for such postponement or withdrawal no longer exists, in each case, promptly after the occurrence thereof. Notwithstanding anything to the contrary contained herein, the Company may not postpone or withdraw a filing due to
a Valid Business Reason more than twice in any twelve (12) month period. The Company shall not be required to effect any registration pursuant to SECTION 2.5, (i) within ninety (90) days after the effective date of any other
Registration Statement of the Company, (ii) if Form S-1 is not available for such offering by the S-1 Shelf Initiating Holder or the
S-1 Initiating Take-Down Holder, as applicable or (iii) if Form S-3 is not available for such offering by the S-3 Initiating
Holder or the S-3 Initiating Take-Down Holder, as applicable. 
 SECTION 2.6. Holdback
Agreements. 
 (a) To the extent not inconsistent with applicable law and requested by the underwriters, in the case of any underwritten
public offering of Registrable Securities pursuant to this Agreement, each Holder who is participating in such offering agrees not to effect any public sale or distribution of any Registrable Securities or of any securities convertible into or
exchangeable or exercisable for such Registrable Securities, including a sale pursuant to Rule 144 under the Securities Act, or offer to sell, contract to sell (including any short sale), grant any option to purchase or enter into any hedging or
similar transaction with the same economic effect as a sale of Registrable Securities, in each case, during the one hundred and eighty (180) day period beginning on the effective date of the registration statement (in the case of an initial
public offering if the Company is not already listed on the NYSE or NASDAQ) or ninety (90) day period beginning on the effective date of the registration statement (in the case of any other underwritten public offering) or such lesser period as
the underwriter may agree (except as part of such registration) for such public offering (such period of time, the “Holdback Period”); provided, however, that (i) the Holdback Period shall be the same with respect
to all Holders who are participating in such offering, (ii) the foregoing restrictions shall only be applicable to the Holders to the extent they are applicable on substantially similar or more restrictive terms to all directors and executive
officers of the Company and its subsidiaries, and (iii) if the restrictions applicable to any director or officer of the Company or its subsidiaries, or the restrictions applicable to any Holder participating in the offering, are less
restrictive (due to a waiver or otherwise) than the foregoing restrictions, then such less restrictive provisions shall apply to all Holders participating in the offering. 

(b) The Company agrees not to effect any public sale or distribution of any of its securities, or any securities convertible into or
exchangeable or exercisable for such securities (except pursuant to registrations on Form S-4 or S-8 or any successor thereto), during the period beginning on the
effective date of any Registration Statement filed pursuant to SECTION 2.1 for an underwritten public offering in which the Holders are participating and ending on the earlier of (i) the date on which all Registrable Securities on such
registration statement are sold and (ii) one hundred and eighty (180) days (in the case of an initial public offering if the Company is not already listed on the NYSE or NASDAQ) or ninety (90) days (in the case of any other
underwritten public offering), or such lesser period as the underwriter may agree, after the effective date of such registration statement (except as part of such registration). 

  
 12 

 SECTION 2.7. Registration Procedures. 

(a) Whenever registration of Registrable Securities has been requested pursuant to SECTION 2.1, SECTION 2.2 or SECTION
2.5, the Company shall use its reasonable best efforts to effect the registration and sale of such Registrable Securities in accordance with the intended method of distribution thereof as quickly as practicable, and in connection with any such
request, the Company shall, as expeditiously as possible: 
 (i) prepare and file with the Commission a Registration
Statement on any form for which the Company then qualifies or which counsel for the Company shall deem appropriate and which form shall be available for the sale of such Registrable Securities in accordance with the intended method of distribution
thereof, and cause such Registration Statement to become effective; provided, however, that (x) before filing a Registration Statement or prospectus or any amendments or supplements thereto, the Company shall provide one legal
counsel selected by holders of a majority of the Common Stock (with all Warrants considered on a fully exercised basis for purposes of both the numerator and denominator)to be included in such Registration Statement
(“Holders’ Counsel”) with an adequate and appropriate opportunity to review and comment on such Registration Statement and each prospectus included therein (and each amendment or supplement thereto) to be filed
with the Commission, subject to such documents being under the Company’s control, and (y) the Company shall promptly notify the Holders’ Counsel and each seller of Registrable Securities of any stop order issued or threatened by the
Commission and promptly take all action required to prevent the entry of such stop order or to remove it if entered; 
 (ii)
prepare and file with the Commission such amendments and supplements to such Registration Statement and the prospectus used in connection therewith as may be necessary to keep such Registration Statement effective for the lesser of (x) one
hundred and twenty (120) days and (y) such shorter period which will terminate when all Registrable Securities covered by such Registration Statement have been sold; provided, however, that if the S-1 Shelf Initiating Holder or S-3 Shelf Initiating Holder, as applicable, has requested that a Shelf Registration Statement be for an offering on a continuous basis pursuant
to Rule 415 under the Securities Act, then the Company shall keep such Shelf Registration Statement effective until all Registrable Securities covered by such Shelf Registration Statement have been sold; and shall comply with the provisions of the
Securities Act with respect to the disposition of all securities covered by such Shelf Registration Statement during such period in accordance with the intended methods of disposition by the sellers thereof set forth in such Shelf Registration
Statement; 

  
 13 

 (iii) furnish to each seller of Registrable Securities, prior to filing a
Registration Statement, a reasonable number of copies of such Registration Statement as is proposed to be filed, and thereafter such number of copies of such Registration Statement, each amendment and supplement thereto (in each case, including all
exhibits thereto), and the prospectus included in such Registration Statement (including each preliminary prospectus) and any prospectus filed under Rule 424 under the Securities Act as each such seller may reasonably request in order to facilitate
the disposition of the Registrable Securities owned by such seller; 
 (iv) register or qualify such Registrable Securities
under such other securities or “blue sky” laws of such jurisdictions as any seller of Registrable Securities may request, and to continue such qualification in effect in such jurisdiction for as long as permissible pursuant to the laws of
such jurisdiction, or for as long as any such seller requests or until all of such Registrable Securities are sold, whichever is shortest, and do any and all other acts and things which may be reasonably necessary or advisable to enable any such
seller to consummate the disposition in such jurisdictions of the Registrable Securities owned by such seller; provided, however, that the Company shall not be required to (x) qualify generally to do business in any jurisdiction
where it would not otherwise be required to qualify but for this SECTION 2.7(a)(iv), (y) subject itself to taxation in any such jurisdiction or (z) consent to general service of process in any such jurisdiction; 

(v) notify each seller of Registrable Securities at any time when a prospectus relating thereto is required to be delivered
under the Securities Act, upon discovery that, or upon the happening of any event as a result of which, the prospectus included in such Registration Statement contains an untrue statement of a material fact or omits to state any material fact
required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading and the Company shall promptly prepare a supplement or amendment to such prospectus and furnish to
each seller of Registrable Securities a reasonable number of copies of such supplement to or an amendment of such prospectus as may be necessary so that, after delivery to the purchasers of such Registrable Securities, such prospectus shall not
contain an 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, in light of the circumstances under which they were made, not misleading; 

(vi) enter into and perform customary agreements (including an underwriting agreement in customary form with the relevant
underwriter) and take such other actions as are prudent and reasonably required in order to expedite or facilitate the disposition of such Registrable Securities, including causing its officers to participate in “road shows” and other
information meetings organized by the relevant underwriter; 

  
 14 

 (vii) upon execution of confidentiality agreements in form and substance
reasonably satisfactory to the Company, which shall be consistent with the due diligence and disclosure obligations under securities laws applicable to the Company and the Holders, make available at reasonable times for inspection by any managing
underwriter participating in any disposition of such Registrable Securities pursuant to a Registration Statement, Holders’ Counsel and any attorney, accountant or other agent retained by any managing underwriter, all financial and other
records, pertinent corporate documents and properties of the Company and its Subsidiaries (collectively, the “Records”) as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the
Company’s and its Subsidiaries’ officers, directors and employees, and the independent public accountants of the Company, to supply all information reasonably requested by any such Person in connection with such Registration Statement;

 (viii) if such sale is pursuant to an underwritten offering, obtain comfort letters dated the effective date of the
Registration Statement and the date of the closing under the underwriting agreement from the Company’s independent public accountants in customary form and covering such matters of the type customarily covered by comfort letters as
Holders’ Counsel or the managing underwriter reasonably requests; 
 (ix) furnish, at the request of any seller of
Registrable Securities on the date such securities are delivered to the underwriters for sale pursuant to such registration or, if such securities are not being sold through underwriters, on the date the Registration Statement with respect to such
securities becomes effective, opinion letters and (in the case of an underwritten offering) negative assurance letters, dated such date, of counsel representing the Company for the purposes of such registration, addressed to the underwriters, if
any, to the seller making such request, or the transfer agent, as applicable, covering such legal matters with respect to the registration in respect of which such opinion letters and negative assurance letters are being given as the underwriters,
if any, such seller or the transfer agent may reasonably request and are customarily included in opinion letters or negative assurance letters in offerings of that type; 

(x) comply with all applicable rules and regulations of the Commission, and make generally available to its security holders,
as soon as reasonably practicable but no later than fifteen (15) months after the effective date of the Registration Statement, an earnings statement covering a period of twelve (12) months beginning after the effective date of the
Registration Statement, in a manner which satisfies the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder; 

(xi) cause all such Registrable Securities to be listed on each securities exchange on which similar securities issued by the
Company are then listed provided that the applicable listing requirements are satisfied; 
 (xii) keep Holders’ Counsel
advised as to the initiation and progress of any registration under SECTION 2.1, SECTION 2.2 or SECTION 2.5 hereunder; 

  
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 (xiii) cooperate, in a commercially reasonable manner, with each seller of
Registrable Securities and each underwriter participating in the disposition of such Registrable Securities and their respective counsel in connection with any filings required to be made with the FINRA; and 

(xiv) take all other steps reasonably necessary to effect the registration of the Registrable Securities contemplated hereby.

 SECTION 2.8. Seller Information. The Company may require each seller of Registrable Securities as to which any registration is
being effected to furnish, and such seller shall furnish, to the Company such information regarding the distribution of such securities as the Company may from time to time reasonably request in writing, as a condition to including such Registrable
Securities in such Registration Statement. 
 SECTION 2.9. Notice to Discontinue. Each Holder agrees that, upon receipt of any notice
from the Company of the happening of any event of the kind described in SECTION 2.7(a)(v), such Holder shall forthwith discontinue disposition of Registrable Securities pursuant to the Registration Statement covering such Registrable
Securities until such Holders’ receipt of the copies of the supplemented or amended prospectus contemplated by SECTION 2.7(a)(v) and, if so directed by the Company, such Holder shall deliver to the Company (at the Company’s expense)
all copies, other than permanent file copies then in such Holders’ possession, of the prospectus covering such Registrable Securities which is current at the time of receipt of such notice. If the Company shall give any such notice, the Company
shall extend the period during which such Registration Statement shall be maintained effective pursuant to this Agreement (including the period referred to in SECTION 2.7(a)(ii)) by the number of days during the period from and including the
date of the giving of such notice pursuant to SECTION 2.7(a)(v) to and including the date when sellers of such Registrable Securities under such Registration Statement shall have received the copies of the supplemented or amended prospectus
contemplated by and meeting the requirements of SECTION 2.7(a)(v). 
 SECTION 2.10. Registration Expenses. The Company shall
pay all expenses arising from or incident to its performance of, or compliance with, this Agreement, including (i) Commission, stock exchange and FINRA registration and filing fees, (ii) all fees and expenses incurred in complying with
securities or “blue sky” laws (including reasonable fees, charges and disbursements of counsel to any underwriter incurred in connection with “blue sky” qualifications of the Registrable Securities as may be set forth in any
underwriting agreement), (iii) all printing, messenger and delivery expenses, (iv) the fees, charges and expenses of counsel to the Company and of its independent public accountants and any other accounting fees, charges and expenses incurred
by the Company (including any expenses arising from any comfort letters or any special audits incident to or required by any registration or qualification) and the reasonable legal fees, charges and expenses of a single counsel to the Holders
incurred by such Holders participating in any registration as a group, (v) all fees and disbursements of underwriters customarily paid by the issuer of securities (excluding brokers’ commissions or underwriting discounts and commissions
and transfer taxes, if any), and fees and disbursements of counsel to underwriters and (vi) any liability insurance or other premiums for insurance obtained in connection with any registration pursuant to the terms of this Agreement, regardless
of whether any Registration Statement is declared effective. The holder of Registrable Securities sold pursuant to a Registration Statement shall bear the expense of any brokers’ commissions or underwriting discounts or commissions and transfer
taxes relating to registration and sale of such Holders’ Registrable Securities. 

  
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 SECTION 2.11. Indemnification; Contribution. 

(a) Indemnification by the Company. The Company shall indemnify and hold harmless each Holder, its partners, directors, officers,
Affiliates and each Person who controls (within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act) the Holder from and against any and all claims, liabilities, damages, losses, costs and expenses (including
amounts paid in satisfaction of judgments, in compromises and settlements, as fines and penalties and legal or other costs and reasonable expenses of investigating or defending against any claim or alleged claim) (each, a
“Liability” and collectively, “Liabilities”), arising out of or based upon any untrue, or allegedly untrue, statement of a material fact contained in any Registration Statement, prospectus or preliminary prospectus
(as amended or supplemented if the Company shall have furnished any amendments or supplements thereto) or arising out of or based upon 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 in the case of any prospectus, in light of the circumstances such statements were made), except insofar as such Liability arises out of or is based upon any untrue statement or alleged untrue statement
or omission or alleged omission contained in such Registration Statement, preliminary prospectus or final prospectus in reliance and in conformity with information concerning any Holder furnished in writing to the Company by such Holder expressly
for use therein, including the information furnished to the Company pursuant to SECTION 2.11(b). The Company shall also provide customary indemnities to any underwriters of the Registrable Securities, their officers, directors and employees
and each Person who controls such underwriters (within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act) to the same extent as provided above with respect to the indemnification of the Holders. 

(b) Indemnification by the Holders. In connection with any Registration Statement in which any Holder is participating pursuant to
SECTION 2.1, SECTION 2.2 or SECTION 2.5 hereof, each Holder shall promptly furnish to the Company in writing such information with respect to such Holder as the Company may reasonably request or as may be required by law for use
in connection with any such Registration Statement or prospectus and all information required to be disclosed in order to make the information previously furnished to the Company by such Holder not materially misleading or necessary to cause such
Registration Statement not to omit a material fact with respect to such Holder necessary in order to make the statements therein not misleading. Each Holder agrees to indemnify and hold harmless the Company, its partners, directors, officers,
Affiliates, any underwriter retained by the Company and each Person who controls the Company or such underwriter (within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act) from and against any and all
Liabilities arising out of or based upon any untrue, or allegedly untrue, statement of a material fact contained in any Registration Statement, prospectus or preliminary prospectus (as amended or supplemented if the Company shall have furnished any
amendments or supplements thereto) or arising out of or based upon 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 in the case of any
prospectus, in light of the circumstances such statements were made), but if and only 

  
 17 

 
to the extent that such Liability arises out of or is based upon any untrue statement or omission or alleged untrue statement or alleged omission contained in such Registration Statement,
preliminary prospectus or final prospectus in reliance and in conformity with information concerning such Holder furnished in writing (including by email) by such Holder expressly for use therein, provided, however, that the total
amount to be indemnified by each Holder pursuant to this SECTION 2.11(b) shall be limited to such Holders’ pro rata portion of the net proceeds (after deducting the underwriters’ discounts and commissions) received by such
Holder in the offering to which the Registration Statement or prospectus relates. 
 (c) Conduct of Indemnification Proceedings. Any
Person entitled to indemnification under this SECTION 2.11 (the “Indemnified Party”) agrees to give prompt written notice to the indemnifying party (the “Indemnifying Party”) after the receipt by the
Indemnified Party of any written notice of the commencement of any action, suit, proceeding or investigation or threat thereof made in writing for which the Indemnified Party intends to claim indemnification or contribution pursuant to this
Agreement; provided, however, that the failure so to notify the Indemnifying Party shall not relieve the Indemnifying Party of any Liability that it may have to the Indemnified Party hereunder (except to the extent that the
Indemnifying Party is prejudiced or otherwise forfeits substantive rights or defenses by reason of such failure). If notice of commencement of any such action is given to the Indemnifying Party as above provided, the Indemnifying Party shall be
entitled to participate in and, to the extent it may wish, jointly with any other Indemnifying Party similarly notified, to assume the defense of such action at its own expense, with counsel chosen by it and reasonably satisfactory to such
Indemnified Party. The Indemnified Party shall have the right to employ separate counsel in any such action and participate in the defense thereof, but the fees and expenses of such counsel shall be paid by the Indemnified Party unless (i) the
Indemnifying Party agrees to pay the same, (ii) the Indemnifying Party fails to assume the defense of such action with counsel reasonably satisfactory to the Indemnified Party or (iii) the named parties to any such action (including any
impleaded parties) include both the Indemnifying Party and the Indemnified Party and the Indemnified Party has been advised by such counsel that either (x) representation of such Indemnified Party and the Indemnifying Party by the same counsel
would be inappropriate under applicable standards of professional conduct or (y) there may be one or more legal defenses available to the Indemnified Party which are different from or additional to those available to the Indemnifying Party. In
any of such cases, the Indemnifying Party shall not have the right to assume the defense of such action on behalf of such Indemnified Party, it being understood, however, that the Indemnifying Party shall not be liable for the fees and expenses of
more than one separate firm of attorneys (in addition to any local counsel) for all Indemnified Parties. No Indemnifying Party shall be liable for any settlement entered into without its written consent (such consent not to be unreasonably withheld
or delayed). No Indemnifying Party shall, without the consent of such Indemnified Party, effect any settlement of any pending or threatened proceeding in respect of which such Indemnified Party is a party and indemnity has been sought hereunder by
such Indemnified Party, unless such settlement includes an unconditional release of such Indemnified Party from all liability for claims that are the subject matter of such proceeding. 

  
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 (d) Contribution. If the indemnification provided for in this SECTION 2.11 from the
Indemnifying Party is held by a court of competent jurisdiction to be unavailable to an Indemnified Party hereunder in respect of any Liabilities referred to herein, then the 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 Liabilities in such proportion as is appropriate to reflect the relative fault of the Indemnifying Party on the one hand and Indemnified Party on the other in
connection with the statements or omissions which resulted in such Liabilities, as well as other relevant equitable considerations. The relative fault of such Indemnifying Party and Indemnified Party shall be determined by reference to, among other
things, whether any untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact 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 such statement or omission. The amount paid or payable by a party as a result of the Liabilities referred to above shall be deemed to include, subject to the limitations set
forth in SECTION 2.11(a), SECTION 2.11(b) and SECTION 2.11(c), any legal or other fees, charges or expenses reasonably incurred by such party in connection with any investigation or proceeding; provided, however,
that the total amount to be contributed by any Holder shall be limited to the net proceeds (after deducting the underwriters’ discounts and commissions) received by the Holder in the offering. 

(e) Fraud. The parties hereto agree that it would not be just and equitable if contribution pursuant to SECTION 2.11(d) were
determined by pro rata allocation or by any other method of allocation which does not take account of the equitable considerations referred to in the immediately preceding paragraph. 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. 

ARTICLE III 

MISCELLANEOUS 
 SECTION
3.1. Specific Performance. The parties agree that irreparable damage would occur in the event that any of the provisions of this Agreement are not performed in accordance with their specific terms or are otherwise breached, including if the
parties hereto fail to take any action required of them hereunder to consummate this Agreement. It is accordingly agreed that, in addition to any other applicable remedies at law or equity, the parties to this Agreement shall be entitled to an
injunction or injunctions, without proof of damages, to prevent breaches of this Agreement and to enforce specifically the terms and provisions of this Agreement. Each party hereto agrees that it will not oppose the granting of an injunction,
specific performance or other equitable relief on the basis that (i) the other party has an adequate remedy at law or (ii) an award of specific performance is not an appropriate remedy for any reason at law or in equity. Each of the
parties hereto hereby waives (x) any defenses in any action for specific performance, including the defense that a remedy at law would be adequate and (y) any requirement under any law to post a bond or other security as a prerequisite to
obtaining equitable relief; provided that such waiver shall not limit, in any respect, the availability of any defense(s) that a party might otherwise have with respect to the alleged breach or obligation for which specific performance is
sought. 

  
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 SECTION 3.2. Term and Termination. 

(a) In the event that a given Holder (together with its Affiliates) ceases to “beneficially own” (as such term is defined under the
Exchange Act) one half of one percent (0.5%) or more of the outstanding Common Stock (with all Warrants considered on a fully exercised basis for purposes of both the numerator and denominator), all of such Holder’s rights and obligations under
this Agreement shall expire and such Holder will cease to be a “Holder” for all purposes hereunder without any further action of the Company or any other party hereto. 

(b) This Agreement shall terminate upon the earlier of January 1, 2023 and such time as there are no Registrable Securities outstanding;
provided, however, that the provisions of Sections 2.10 and 2.11 shall survive any termination of this Agreement. 
 SECTION
3.3. Amendments and Waivers. 
 (a) No failure or delay on the part of the Company or any Holder in exercising any right, power or
remedy hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such right, power or remedy preclude any other or further exercise thereof or the exercise of any other right, power or remedy. The remedies provided
for herein are cumulative and are not exclusive of any remedies that may be available to the Company or any Holder at law or in equity or otherwise. 

(b) 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, in each case without the written consent of the Company and the Holders of a majority of the outstanding shares of Common Stock that constitute Registrable Securities (with all
Warrants considered on a fully exercised basis for purposes of both the numerator and denominator); provided, that any amendment that has the effect of adversely affecting any Holder or group of Holders differently than any other Holder or group of
Holders shall only be effective against such Holder(s) with the written consent of such Holder(s). 
 SECTION 3.4. Notices. Any
notices or other communications required or permitted hereunder shall be in writing, and shall be sufficiently given if made by hand delivery, by electronic mail, by facsimile, by reputable overnight courier service (charges prepaid), or by
registered or certified mail (postage prepaid, return receipt requested), addressed as follows (or at such other address as may be substituted by notice given as herein provided): 

If to the Company: 
  

			
	Avaya Holdings Corp.	  	
	 Attn:
 Address:
	  	 Patrick O’Malley
 4655 Great America
Parkway
 Santa Clara, CA 95054-1233

	 Facsimile No.:
 Email:
	  	 (408) 496-3600

pomalley@avaya.com

 If to any Holder, at its address and the address of its representative, if any, as provided to the
Company by such Holder or otherwise listed in the books of the Company. 

  
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 Any notice or communication hereunder shall be deemed to have been given or made as of the date
so delivered if personally delivered; when receipt is acknowledged, if emailed or telecopied; and on receipt if sent by overnight courier service or registered or certified mail. 

Failure to mail a notice or communication to a Holder or any defect in it shall not affect its sufficiency with respect to other Holders. 

SECTION 3.5. Successors and Assigns. The rights and obligations of the Holders under this Agreement shall not be assignable by any
Holder to any Person that is not a Holder; provided, that in the event of a valid transfer of Registrable Securities by a Holder, the rights and obligations of the transferor under this Agreement (solely with respect to the Registrable
Securities so transferred) shall be transferred to the transferee, subject to such transferee executing a joinder to this Agreement, in the form attached hereto as Exhibit A; provided, for the avoidance of doubt, that the transferor in
such transaction shall retain its rights and obligations under this Agreement with respect to any Registrable Securities not so transferred. This Agreement shall be binding upon the parties hereto and their respective successors, assigns and
transferees. 
 SECTION 3.6. Counterparts. This Agreement may be executed in any number of counterparts, each of which will be deemed
to be an original copy of this Agreement and all of which, when taken together, will be deemed to constitute one and the same agreement. This Agreement and any signed agreement entered into in connection herewith or contemplated hereby, and any
amendments hereto or thereto, to the extent signed and delivered by facsimile, by electronic mail in “portable document format” (“.pdf”) form, or any other electronic transmission, shall be treated in all manner and respects as
an original contract and shall be considered to have the same binding legal effects as if it were the original signed version thereof delivered in person. 

SECTION 3.7. Governing Law: Venue: Jurisdiction. THIS AGREEMENT AND ALL CLAIMS OR CAUSES OF ACTION (WHETHER IN CONTRACT OR TORT) THAT
MAY BE BASED UPON, ARISE OUT OF OR RELATE TO THIS AGREEMENT OR THE NEGOTIATION, EXECUTION OR PERFORMANCE OF THIS AGREEMENT (INCLUDING ANY CLAIM OR CAUSE OF ACTION BASED UPON, ARISING OUT OF OR RELATED TO ANY REPRESENTATION OR WARRANTY MADE IN OR IN
CONNECTION WITH THIS AGREEMENT) SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE, WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW. Each party hereby agrees that any action based upon, arising out of or
relating to this Agreement (including any action concerning the violation or threatened violation of this Agreement) shall be heard and determined in any state or federal court sitting in the Court of Chancery of the State of Delaware (or, if the
Chancery Court of the State of Delaware declines to accept jurisdiction over a particular matter, in the United States District Court for the District of Delaware), and the parties hereto hereby irrevocably submit to the exclusive jurisdiction of
such courts (and, in the case of appeals, appropriate appellate courts therefrom) in any such action or proceeding and irrevocably waive the defense of an inconvenient forum to the maintenance of any such action or proceeding. In addition, each
party consents to process being served in any such lawsuit, action or proceeding by mailing, certified mail, return receipt requested, a copy thereof to such party at the address in effect for notices

  
 21 

 
hereunder, and agrees that such services shall constitute good and sufficient service of process and notice thereof. The consents to jurisdiction set forth in this paragraph shall not constitute
general consents to service of process in the State of Delaware and shall have no effect for any purpose except as provided in this SECTION 3.7 and shall not be deemed to confer rights on any Person other than the parties hereto. Nothing in
this SECTION 3.7 shall affect or limit any right to serve process in any other manner permitted by law. 
 SECTION 3.8. WAIVER OF
JURY TRIAL. EACH PARTY HEREBY WAIVES ITS RESPECTIVE RIGHT TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT WHETHER BASED UPON OR ARISING OUT OF THIS AGREEMENT OR
ANY OF THE TRANSACTIONS CONTEMPLATED HEREIN, INCLUDING CONTRACT CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW OR STATUTORY CLAIMS. EACH PARTY RECOGNIZES AND AGREES THAT THE FOREGOING WAIVER CONSTITUTES A MATERIAL INDUCEMENT
FOR IT TO ENTER INTO THIS AGREEMENT. EACH PARTY REPRESENTS AND WARRANTS THAT IT HAS REVIEWED THIS WAIVER WITH ITS LEGAL COUNSEL AND THAT IT KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS FOLLOWING CONSULTATION WITH LEGAL COUNSEL. 

SECTION 3.9. Severability. Any provision of this Agreement which is prohibited, unenforceable or not authorized in any jurisdiction is,
as to such jurisdiction, ineffective to the extent of any such prohibition, unenforceability or nonauthorization without invalidating the remaining provisions hereof, or affecting the validity, enforceability or legality of such provision in any
other jurisdiction, unless the ineffectiveness of such provision would result in such a material change as to cause completion of the transactions contemplated hereby to be unreasonable. Upon a determination that any provision of this Agreement is
prohibited, unenforceable or not authorized, the parties hereto agree to negotiate in good faith to modify this Agreement so as to effect the original intent of the parties hereto as closely as possible, in a mutually acceptable manner, in order
that the transactions contemplated hereby are consummated as originally contemplated to the fullest extent possible. 
 SECTION 3.10. Non-Recourse. All claims, obligations, liabilities, or causes of action (whether in contract or in tort, in law or in equity, or granted by statute) that may be based upon, in respect of, arise under, out or by
reason of, be connected with, or relate in any manner to this Agreement, or the negotiation, execution, or performance of this Agreement (including any representation or warranty made in, in connection with, or as an inducement to, this Agreement),
may be made only against (and are expressly limited to) the entities that are expressly identified as parties in the preamble to this Agreement (“Contracting Parties”). No Person who is not a Contracting Party, including without
limitation any director, officer, employee, incorporator, member, partner, manager, stockholder, Affiliate, agent, attorney, or representative of, and any financial advisor or lender to, any Contracting Party, or any director, officer, employee,
incorporator, member, partner, manager, stockholder, Affiliate, agent, attorney, or representative of, and any financial advisor or lender to, any of the foregoing (“Non-party Affiliates”),
shall have any liability (whether in contract or in tort, in law or in equity, or granted by statute) for any claims, causes of action, obligations, or liabilities arising under, out of, in connection with, or

  
 22 

 
related in any manner to this Agreement or based on, in respect of, or by reason of this Agreement or its negotiation, execution, performance, or breach; and, to the maximum extent permitted by
law, each Contracting Party hereby waives and releases all such liabilities, claims, causes of action, and obligations against any such Non-party Affiliates. 

SECTION 3.11. Recapitalization, Exchanges Etc., Affecting Securities. The provisions of this Agreement shall apply, to the full extent
set forth herein with respect to the Registrable Securities and to any and all Common Stock of the Company or any successor or assign of the Company (whether by merger, consolidation, sale of assets or otherwise, including shares issued by a parent
company in connection with a triangular merger) which may be issued in respect of, in exchange for, or in substitution of Registrable Securities, appropriately adjusted for any stock dividends, splits, reverse splits, combinations, reclassifications
and the like occurring after the date hereof. 
 SECTION 3.12. Entire Agreement. This Agreement (including all schedules and exhibits
hereto) contains the entire agreement among the parties hereto with respect to the subject matter hereof and supersedes all prior agreements and understandings, oral or written, with respect to such matters. 

SECTION 3.13. Aggregation of Common Stock. All Registrable Securities held by a Holder and its Affiliates shall be aggregated
together for purposes of determining the availability of any rights under this Agreement. 
 SECTION 3.14. Headings. The section
headings of this Agreement are for convenience of reference only and shall not, for any purpose, be deemed to be part of this Agreement or otherwise affect the interpretation of this Agreement. 

SECTION 3.15. No Third Party Beneficiaries. Except as provided in SECTION 3.5, nothing express or implied herein is intended or
shall be construed to confer upon any person or entity, other than the parties hereto and their respective successors and assigns and all Indemnified Parties, any rights, remedies or other benefits under or by reason of this Agreement. 

* * * * * * * * * * 

  
 23 

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

			
	 COMPANY
  

AVAYA HOLDINGS CORP.

		
	 By:
 Name:

Title:
	 	  

 Signature Page to Registration Rights Agreement 

  

 
			
	[HOLDER]
		
	 By:
 Name:

Title:
	 	  

 Signature Page to Registration Rights Agreement 

  

 EXHIBIT A 

JOINDER AGREEMENT 
 This
Joinder Agreement (“Joinder”) is executed pursuant to the terms of the Registration Rights Agreement, dated as of[            ], 2017 a copy of which is attached hereto (as
amended, the “Registration Rights Agreement”), by the undersigned (the “Undersigned”) executing this Joinder. By the execution of this Joinder, the Undersigned agrees as follows: 

1. Acknowledgment. The Undersigned acknowledges that the Undersigned is acquiring certain Registrable Securities of Avaya Holdings
Corp., a Delaware corporation (the “Company”), subject to the terms and conditions of the Registration Rights Agreement. Capitalized terms used herein without definition are defined in the Registration Rights Agreement and are used
herein with the same meanings set forth therein. 
 2. Agreement. The Undersigned (i) agrees that the Registrable Securities
acquired by the Undersigned shall be bound by and subject to the terms of the Registration Rights Agreement, pursuant to the terms thereof, and (ii) hereby agrees to be bound by the Registration Rights Agreement as a Holder thereunder, with the
same force and effect as if the undersigned were originally a party thereto. 
 3. Notice. Any notice required as permitted by the
Registration Rights Agreement shall be given to the Undersigned at the address listed beside the Undersigned’s signature below. 
  

									
	[NAME OF HOLDER]	  	Address for Notices:
					
	By:	 	  
	 		  	[•]	  	
	Name:	 		 		  	[•]	  	
	Title:	 		 		  	Telephone:     	  	[•]
	Date:	 		 		  	Email:	  	[•]

 Joinder AgreementEX-4.6

 Exhibit 4.6 

Execution Version 

WARRANT AGREEMENT 

between 
 AVAYA HOLDINGS
CORP. 
 and 

AMERICAN STOCK TRANSFER & TRUST COMPANY, LLC, 

Warrant Agent 
 Dated as
of December 15, 2017 
 Warrants To Purchase Common Stock 

 TABLE OF CONTENTS 

 

									
	 	  	 	  	 	  	Page	 
	 1.
	  	Definitions	  	 	1	 
			
	 2.
	  	 Warrant Certificates
	  	 	10	 
				
		  	 2.1.
	  	 Original Issuance of Warrants
	  	 	10	 
				
		  	 2.2.
	  	 Form of Warrant Certificates
	  	 	10	 
				
		  	 2.3.
	  	 Execution and Delivery of Warrant Certificates
	  	 	10	 
				
		  	 2.4.
	  	 Global Warrant Certificates
	  	 	11	 
			
	 3.
	  	 Exercise and Expiration of Warrants
	  	 	13	 
				
		  	 3.1.
	  	 Right to Acquire Common Stock Upon Exercise
	  	 	13	 
				
		  	 3.2.
	  	 Exercise and Expiration of Warrants
	  	 	13	 
				
		  	 3.3.
	  	 Application of Funds Upon Exercise of Warrants
	  	 	15	 
				
		  	 3.4.
	  	 Payment of Taxes
	  	 	15	 
				
		  	 3.5.
	  	 Cancellation of Warrant Certificates
	  	 	15	 
				
		  	 3.6.
	  	 Shares Issuable
	  	 	15	 
				
		  	 3.7.
	  	 Cashless Exercise
	  	 	16	 
			
	 4.
	  	 Dissolution, Liquidation or Winding up
	  	 	17	 
			
	 5.
	  	 Adjustments
	  	 	17	 
				
		  	 5.1.
	  	 Adjustments
	  	 	17	 
				
		  	 5.2.
	  	 Fractional Interest
	  	 	25	 
				
		  	 5.3.
	  	 Independent Financial Expert Appraisals
	  	 	25	 
				
		  	 5.4.
	  	 No Other Adjustments
	  	 	27	 
			
	 6.
	  	 Loss or Mutilation
	  	 	27	 
			
	 7.
	  	 Reservation and Authorization of Common Stock
	  	 	28	 
			
	 8.
	  	 Warrant Transfer Books
	  	 	29	 
			
	 9.
	  	 Warrant Holders
	  	 	30	 
				
		  	 9.1.
	  	 No Voting or Dividend Rights
	  	 	30	 
				
		  	 9.2.
	  	 Rights of Action
	  	 	30	 
				
		  	 9.3.
	  	 Treatment of Holders of Warrant Certificates
	  	 	30	 
				
		  	 9.4.
	  	 Communications to Holders
	  	 	31	 
			
	 10.
	  	 Concerning the Warrant Agent
	  	 	31	 
				
		  	 10.1.
	  	 Nature of Duties and Responsibilities Assumed
	  	 	31	 
				
		  	 10.2.
	  	 Right to Consult Counsel
	  	 	33	 
				
		  	 10.3.
	  	 Compensation, Reimbursement and Indemnification
	  	 	33	 
				
		  	 10.4.
	  	 Warrant Agent May Hold Company Securities
	  	 	33	 
				
		  	 10.5.
	  	 Resignation and Removal; Appointment of Successor
	  	 	33	 
				
		  	 10.6.
	  	 Appointment of Countersigning Agent
	  	 	34	 

  
  i 

									
	 11.
	  	Notices	  	 	35	 
				
		  	11.1.	  	 Notices Generally
	  	 	35	 
				
		  	11.2.	  	 Required Notices to Holders
	  	 	36	 
			
	 12.
	  	 Inspection
	  	 	37	 
			
	 13.
	  	 Amendments
	  	 	38	 
			
	 14.
	  	 Waivers
	  	 	39	 
			
	 15.
	  	 Successor to Company
	  	 	39	 
			
	 16.
	  	 Headings
	  	 	39	 
			
	 17.
	  	 Counterparts
	  	 	39	 
			
	 18.
	  	 Severability
	  	 	39	 
			
	 19.
	  	 Information Rights
	  	 	39	 
			
	 20.
	  	 No Redemption
	  	 	40	 
			
	 21.
	  	 Persons Benefiting
	  	 	40	 
			
	 22.
	  	 Applicable Law
	  	 	40	 
			
	 23.
	  	 Entire Agreement
	  	 	40	 

   EXHIBITS 
   

			
	 Exhibit A
	  	 Form of Warrant Certificate

  
  ii 

 WARRANT AGREEMENT 

This WARRANT AGREEMENT (as may be supplemented, amended or amended and restated pursuant to the applicable provisions hereof, this
“Agreement”), dated as of December 15, 2017, between Avaya Holdings Corp., a Delaware corporation (referred to herein as the “Company”), and American Stock Transfer & Trust Company, LLC,
a New York limited liability trust company, as warrant agent (referred to herein as the “Warrant Agent”). Capitalized terms that are used in this Agreement shall have the meanings set forth in
Section 1 hereof. 
 Pursuant to the terms and conditions of the Plan, the Company proposes to issue and deliver
Warrants to purchase up to an aggregate of 5,645,200 shares of its Common Stock (as defined below), subject to adjustment as provided herein, and the Warrant Certificates evidencing such Warrants. Each Warrant shall entitle the registered owner
thereof to purchase one share of the Common Stock, subject to adjustment as provided herein. 
 In consideration of the foregoing and for
the purpose of defining the terms and provisions of the Warrants and the respective rights and obligations thereunder of the Company, the Warrant Agent and the Holders, the Company and the Warrant Agent each hereby agree as follows: 

 

	1.	Definitions. 

 “Action” has the meaning set forth in
Section 11.2. 
 “Affiliate” of any specified Person, means any other Person directly or
indirectly controlling or controlled by or under direct or indirect common control with such specified Person. For the purposes of this definition, “control” when used with respect to any Person means the power to direct the management and
policies of such specified Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise, and the terms “controlling” and “controlled” have meanings correlative to the foregoing.

 “Agent Members” has the meaning set forth in Section 2.4(b). 

“Agreement” means this Warrant Agreement as originally executed or as it may from time to time be supplemented,
amended or amended and restated pursuant to the applicable provisions hereof. 
 “Applicable Procedures” means, with
respect to any transfer or exchange of, or exercise of any Warrants evidenced by, any Global Warrant Certificate, the rules and procedures of the Depositary that apply to such transfer, exchange or exercise. 

“Appraisal Report Date” has the meaning set forth in Section 5.3(d). 

“Appraisal Request Notice” means any Cashless Exercise Appraisal Request Notice, any Sale Transaction Appraisal
Request Notice or any Property Dividend Appraisal Request Notice. 

 “Appraisal Trigger Date” means any Cashless Exercise Appraisal Trigger
Date, any Sale Transaction Appraisal Trigger Date or any Property Dividend Appraisal Trigger Date. 
 “Appropriate
Officer” means the Chief Executive Officer, President, Chief Financial Officer, Treasurer or Secretary of the Company. 

“Black-Scholes Value Determinations” has the meaning set forth in Section 5.3(b). 

“Black-Scholes Valuation Trigger Date” means the date the Company delivers to the Holders, pursuant to
Section 11.2, written notice of any Sale Transaction that is not a Sale Securities Only Transaction. 

“Black-Scholes Value” means, with respect to any Sale Transaction, the fair market value of a Warrant on the date of
consummation of such Sale Transaction calculated as of such date by an Independent Financial Expert selected in accordance with Section 5.3(b) in accordance with the Black-Scholes model for valuing options, using (a) a
risk free rate equal to the annual yield on the U.S. Treasury security with a maturity date closest to the Scheduled Expiration Date, as the yield on that security exists as of such date, (b) a term equal to the time in years (rounded to the
nearest 1/1000th of a year) from such date until the Scheduled Expiration Date, (c) the Sale Current Market Price with respect to such Sale Transaction, (d) an assumed volatility of 35%
and (e) an exercise price equal to the Exercise Price in effect immediately prior to the effective time of the consummation of such Sale Transaction. 

“Board of Directors” means either the board of directors of the Company or any duly authorized committee of that
board. 
 “Board Resolution” means a copy of a resolution certified by the secretary or an assistant secretary of
the Company to have been duly adopted by the Board of Directors and to be in full force and effect on the date of such certification, and delivered to the Warrant Agent. 

“Business Day” means each Monday, Tuesday, Wednesday, Thursday and Friday which is not a legal holiday in the State of
New York or a day on which banking institutions and trust companies in the state in which the Corporate Agency Office is located are authorized or obligated by law, regulation or executive order to close. 

“Cashless Exercise” has the meaning set forth in Section 3.7. 

“Cashless Exercise Appraisal Request Notice” has the meaning set forth in
Section 3.7. 
 “Cashless Exercise Appraisal Trigger Date” means the
date the Company receives any Cashless Exercise Appraisal Request Notice. 
 “Cashless Exercise Current Market
Price” means, with respect to any Exercise Date: 
  (i) if such Exercise Date is a Listed Date but such
Exercise Date is not a Cashless Exercise Date pursuant to clause (ii) of the definition thereof, the Current Market Price on such Exercise Date; 

  
  2 

 (ii) if such Exercise Date is a Cashless Exercise Date pursuant to clause
(ii) of the definition thereof, the Sale Current Market Price with respect to such Sale Transaction; or 
 (iii) if such
Exercise Date is not a Listed Date and such Exercise Date is not a Cashless Exercise Date pursuant to clause (ii) of the definition thereof, the Fair Market Value of the Common Stock on the related Cashless Exercise Appraisal Trigger Date. 

“Cashless Exercise Date” means (i) any Listed Date; (ii) any date within the period beginning on (and
including) the date 10 days prior to, and ending on (and including), the effective date of any Sale Transaction; and (iii) any date during the period beginning on (and including), and ending on (and including) the date 20 days after, the
Appraisal Report Date with respect to any Cashless Exercise Appraisal Request Notice. 
 “Cashless Exercise Warrant”
has the meaning set forth in Section 3.7. 
 “Code” means the Internal Revenue Code of
1986, as amended. 
 “Commission” means the Securities and Exchange Commission, or any other federal agency at the
time administering the Securities Act or the Exchange Act, whichever is the relevant statute for the particular purpose. 

“Common Stock” means any capital stock of any class or series of the Company (including, on the Original Issue Date,
the Common Stock, par value $.01 per share, of the Company) which has no preference in respect of dividends or of amounts payable in the event of any voluntary or involuntary liquidation, dissolution or winding up of the Company and which is not
subject to redemption by the Company. However, subject to the provisions of Section 5.1(g), shares issuable upon exercise of Warrants shall include only shares of the class of capital stock of the Company designated as
Common Stock, par value $.01 per share, of the Company on the Original Issue Date or shares of any class or classes resulting from any reclassification or reclassifications thereof and which have no preference in respect of dividends or of amounts
payable in the event of any voluntary or involuntary liquidation, dissolution or winding up of the Company and which are not subject to redemption by the Company; provided, however, that if at any time there shall be more than one such
resulting class, the shares of each such class then so issuable shall be substantially in the proportion which the total number of shares of such class resulting from all such reclassifications bears to the total number of shares of all such classes
resulting from all such reclassifications. 
 “Company” means the company identified in the preamble hereof, and any
Successor Company that becomes successor to the Company in accordance with Section 15. 

“Company Order” means a written request or order signed in the name of the Company by its Chairman or any Co-Chairman of the Board, its Chief Executive Officer, its President, any Vice President, its Treasurer, any Assistant Treasurer, its Secretary or any Assistant Secretary, and delivered to the Warrant Agent. 

“Company Selected Expert” has the meaning set forth in Section 5.3. 

  
 3 

 “Constituent Person” has the meaning set forth in
Section 5.1(g). 
 “Corporate Agency Office” has the meaning set forth in
Section 8. 
 “corporation” means a corporation, association, company (including limited
liability company), joint-stock company, business trust or other similar entity. 
 “Countersigning Agent” means any
Person authorized by the Warrant Agent to act on behalf of the Warrant Agent to countersign Warrant Certificates. 
 “Current
Market Price” means on any date: 
 (i) if the reference is to the per share price of Common Stock on any date
herein specified and if on such date the Common Stock is listed or admitted to trading on any U.S. national securities exchange or traded in the over-the-counter market
in the United States: 
 (A) for the purpose of any computation under this Agreement (except under
Section 5.2), the average of the Quoted Prices for the 20 consecutive Trading Days ending on the Trading Day that is or next precedes the earlier of (x) the date in question and (y) in the case of any computation
under Section 5.1(d), the day before the “ex” date for the Property Dividend requiring such computation; or 

(B) for the purposes of any computation under Section 5.2, the Quoted Price for such date or, if such
date is not a Trading Day, for the next preceding Trading Day; or 
 (ii) if the reference is to the per share price of
Common Stock on any date herein specified and if on such date the Common Stock is not listed or admitted to trading on any U.S. national securities exchange or traded in the
over-the-counter market in the United States, the amount which a willing buyer would pay a willing seller in an arm’s length transaction on such date (neither being
under any compulsion to buy or sell) for one share of the Common Stock as determined as of such date (x) for the purposes of any computation under this Agreement (except under Section 5.2), by an Independent Financial
Expert as set forth in value report thereof using one or more valuation methods that such Independent Financial Expert, in its best professional judgment, determines to be most appropriate or (y) for the purposes of any computation under
Section 5.2, by the Treasurer or Chief Financial Officer of the Company in good faith, whose determination shall be conclusive and evidenced by a certificate of such officer delivered to the Warrant Agent. 

“Definitive Warrant Certificate” means a Warrant Certificate registered in the name of the Holder thereof that does
not bear the Global Warrant Legend and that does not have a “Schedule of Decreases of Warrants” attached thereto. 

“Depositary” means DTC and its successors as depositary hereunder. 

  
 4 

 “Determinations” has the meaning set forth in
Section 5.3(c). 
 “DTC” means The Depository Trust Company. 

“‘ex’ date” means when used with respect to any issuance or distribution, the first date on which the Common
Stock trades regular way on the relevant exchange or in the relevant market from which the Quoted Price was obtained without the right to receive such issuance or distribution. 

“Exchange Act” means the Securities Exchange Act of 1934 and any statute successor thereto, in each case, as amended
from time to time. 
 “Exercise Date” has the meaning set forth in Section 3.2(f). 

“Exercise Period” means the period from and including the Original Issue Date to and including the Expiration Date.

 “Exercise Price” means the exercise price per share of Common Stock, initially set at $25.55, subject to
adjustment as provided in Section 5.1. 
 “Expiration Date” means the earlier to occur of
(x) the Scheduled Expiration Date and (y) the date of consummation of a Sale Cash Only Transaction to which clause (ii)(A) of Section 5.1(g) applies. 

“Fair Market Value” means on any date, as to any share of Common Stock or security or other non-cash property that is receivable upon conversion, change or exchange of shares of Common Stock in any Sale Transaction or comprises all or a portion of any Property Dividend: 

(i) in the case of any security listed or admitted to trading on any U.S. national securities exchange, the average of the
respective VWAPs of such security for each of the 20 consecutive Trading Days ending on the date in question; or 
 (ii) in
the case of any security not so listed or any other non-cash property, the amount which a willing buyer would pay a willing seller in an arm’s length transaction on such date (neither being under any
compulsion to buy or sell) for such security or other non-cash property, as determined as of such date by: 

(A) unless clause (B) applies, the Board of Directors in good faith, whose determination shall be evidenced by a Board
Resolution filed with the Warrant Agent with written notice of such determination given by the Company to the Holders in accordance with the third paragraph of Section 11.2; provided, however, that if the Required Warrant
Holders object to any such determination by duly delivering an Appraisal Request Notice to the Company within 10 days after receiving such written notice from the Company as specified in Section 5.1(d) or
Section 5.1(g), then clause (B) shall apply, with such amount being determined by an Independent Financial Expert in accordance with Section 5.3; or 

  
 5 

 (B) with respect to the determination of the Fair Market Value of one share of
Common Stock on any Cashless Exercise Appraisal Trigger Date upon due delivery of a Cashless Exercise Appraisal Request Notice pursuant to Section 3.7 or the Fair Market Value of
non-cash property (other than any securities listed or admitted for trading on any U.S. national securities exchange) that (x) is receivable upon conversion, change or exchange of shares of Common Stock
in any Sale Transaction upon due delivery of a Sale Transaction Appraisal Request Notice pursuant to Section 5.1(g) or (y) comprises all or a portion of any Property Dividend upon due delivery of a Property Dividend
Appraisal Request Notice pursuant to Section 5.1(d), an Independent Financial Expert in accordance with Section 5.3. 

“Fair Market Value Determinations” has the meaning set forth in Section 5.3(a). 

“Global Warrant Certificate” means a Warrant Certificate deposited with or on behalf of and registered in the name of
the Depositary or its nominee, that bears the Global Warrant Legend and that has the “Schedule of Decreases of Warrants” attached thereto. 

“Global Warrant Legend” means the legend set forth in Section 2.4(a). 

“Holder” means any Person in whose name at the time any Warrant Certificate is registered upon the Warrant Register
and, when used with respect to any Warrant Certificate, the Person in whose name such Warrant Certificate is registered in the Warrant Register. 

“Independent Financial Expert” means any independent investment banking or financial valuation firm of nationally
recognized standing (x) which does not (and whose directors, officers, employees and affiliates, to the knowledge of the Company, do not) have a material direct or indirect financial interest in the Company or any of its Affiliates (other than
by virtue of compensation paid for valuation or fairness advice or opinions to the Company or any of its Affiliates) and (y) which has not been, within the last two years, and, at the time it is called upon to give independent financial advice
to the Company or any of its Affiliates, is not (and none of whose directors, officers, employees or affiliates, to the knowledge of the Company, is) a promoter, director or officer of the Company or any of its Affiliates or an underwriter with
respect to any of the securities of the Company or any of its Affiliates. 
 “Listed Date” means any date on which
the Common Stock is listed or admitted to trading on any U.S. national securities exchange. 

“Non-Surviving Transaction” has the meaning set forth in
Section 5.1(g). 
 “Notice Date” has the meaning set forth in
Section 5.3. 
 “Original Issue Date” means December 15, 2017, the date on which
Warrants are originally issued under this Agreement. 
 “outstanding” when used with respect to any Warrants, means,
as of the time of determination, all Warrants theretofore originally issued under this Agreement except (i) Warrants that have been exercised pursuant to Section 3.2(a), (ii) Warrants that have expired

  
 6 

 
pursuant to Section 3.2(b), Section 4 or Section 5.1(g)(ii)(A) and (iii) Warrants that have otherwise been
acquired by the Company; provided, however, that in determining whether the Holders of the requisite amount of the outstanding Warrants have given any request, demand, authorization, direction, notice, consent or waiver under the
provisions of this Agreement, Warrants held directly or beneficially by the Company or any Subsidiary or Affiliate of the Company or any of their respective employees shall be disregarded and deemed not to be outstanding. 

“Person” means any individual, corporation, partnership, joint venture, trust, unincorporated organization or
government or any agency or political subdivision thereof. 
 “Plan” means the Second Amended Joint Chapter 11
Plan of Reorganization of Avaya Inc. and Its Debtor Affiliates Docket No. 1372. 
 “Property Dividend”
means any payment by the Company to all holders of its Common Stock of any dividend, or any other distribution by the Company to such holders, of any shares of capital stock of the Company, evidences of indebtedness of the Company, cash or other
assets (including rights, warrants or other securities (of the Company or any other Person)), other than any dividend or distribution (i) upon a merger or consolidation or sale to which Section 5.1(g) applies or
(ii) of any Common Stock referred to in Section 5.1(b). 
 “Property Dividend Appraisal Request
Notice” has the meaning set forth in Section 5.1(d). 
 “Property Dividend Appraisal
Trigger Date” means the date the Company receives any Property Dividend Appraisal Request Notice. 
 “Qualifying
Person” has the meaning set forth in Section 5.1(g). 
 “Qualifying Share”
has the meaning set forth in Section 5.1(g). 
 “Quoted Price” means, on any Trading Day,
with respect to any security, the VWAP of such security on such Trading Day on the principal U.S. national securities exchange on which such security is listed or admitted to trading or, if such security is not listed or admitted to trading on any
U.S. national securities exchange, the average of the closing bid and asked prices in the over-the-counter market in the United States as furnished by any New York Stock
Exchange member firm that shall be selected from time to time by the Company for that purpose. 
 “Received
Dividend” means any Property Dividend if (but only if): 
 (i) prior to the date for determination of holders of
shares of Common Stock entitled to receive such distribution the Company has delivered a written notice to the Warrant Agent that the Company intends to treat such distribution as a “Received Dividend” hereunder; and 

  
 7 

 (ii) at the same time the Company makes such distribution to holders of Common
Stock, the Company distributes, to each Person who was the Holder of a Warrant Certificate evidencing a Warrant that was outstanding immediately after the close of business on such date for determination (whether or not such Warrant is outstanding
on the date of such distribution), an amount equal to the amount of securities, cash or other assets that would have been receivable upon such distribution by a holder of the number of shares of Common Stock into which all Warrants evidenced by such
Warrant Certificate are exercisable if such Warrants had been exercised in full immediately prior to such date for determination, assuming that the Warrants were exercisable at the time of such date for determination into the initial number of
shares of Common Stock into which a Warrant is exercisable, as adjusted from the date of this Agreement to such date for determination pursuant to Section 5 (other than any adjustment in respect of which the deferral
provisions of Section 5.1(e) are then applicable). 
 “Recipient” has the meaning set
forth in Section 3.2(e). 
 “Redomestication Transaction” means a Non-Surviving Transaction in which all of the property received upon such Non-Surviving Transaction by each holder of shares of Common Stock consists solely of securities and
the holders of the shares of Common Stock immediately prior to such Non-Surviving Transaction are the only holders of the equity securities of the Surviving Person immediately after the consummation of such Non-Surviving Transaction. 
 “Required Warrant Holders” means Holders of Warrant
Certificates evidencing a majority of the then-outstanding Warrants. 
 “Sale Cash Only Transaction” mans a Sale
Transaction in which none of the property receivable upon such Sale Transaction by a holder of shares of Common Stock constituting a Qualifying Person that makes a Sale Maximum Securities Election constitutes securities. 

“Sale Cash Percentage” means, with respect to any Sale Transaction, the percentage equal to the quotient of 

(i) the sum of the amount of cash and the Fair Market Value of the amount of any
non-cash property other than securities into which a share of Common Stock held by a Qualifying Person that makes a Sale Maximum Securities Election is converted, changed or exchanged in such Sale Transaction
divided by 
 (ii) the Sale Current Market Price with respect to such Sale Transaction. 

“Sale Current Market Price” means, with respect to any Sale Transaction, the sum of the amount of cash and the Fair
Market Value on the date of consummation of such Sale Transaction of the amount of any securities or other non-cash property into which one share of Common Stock held by a Qualifying Person that makes a Sale
Maximum Securities Election is converted, changed or exchanged in the related Sale Transaction. 
 “Sale Maximum Securities
Election” means, with respect to any Sale Transaction, an election by a holder of a share of Common Stock to receive the maximum amount of securities pursuant to any rights of election, if any, as to the kind or amount of securities,
cash and other property receivable upon conversion, change or exchange of such share of Common Stock in such Sale Transaction. 

  
 8 

 “Sale Securities Only Transaction” means a Sale
Transaction in which all of the property received upon such Sale Transaction by a holder of shares of Common Stock constituting a Qualified Person that makes a Sale Maximum Securities Election consists solely of securities. 

“Sale Transaction” means any Transaction other than a Redomestication Transaction. 

“Sale Transaction Appraisal Request Notice” has the meaning set forth in Section 5.1(g).

 “Sale Transaction Appraisal Trigger Date” means the date the Company receives any Sale Transaction Appraisal
Request Notice. 
 “Scheduled Expiration Date” means December 15, 2022 (the fifth anniversary of the Original
Issue Date) or, if not a Business Day, then the next Business Day thereafter. 
 “Securities Act” means the
Securities Act of 1933, as amended. 
 “Subsidiary” means a corporation (as defined in this
Section 1) more than 50% of the outstanding voting stock of which is owned, directly or indirectly, by the Company or by one or more other Subsidiaries, or by the Company and one or more other Subsidiaries. For purposes of
this definition, “voting stock” means stock which ordinarily has voting power for the election of directors, whether at all times or only so long as no senior class of stock has such voting power by reason of any contingency. 

“Substituted Securities” has the meaning set forth in Section 5.1(g). 

“Successor Company” has the meaning set forth in Section 15. 

“Surviving Transaction” has the meaning set forth in Section 5.1(g). 

“Trading Day” means each Monday, Tuesday, Wednesday, Thursday and Friday, other than any day on which securities are
not traded on the applicable securities exchange or in the applicable securities market. 
 “Transaction” has the
meaning set forth in Section 5.1(g). 
 “VWAP” means the volume-weighted average price for
trading hours of the regular trading session (including any extensions thereof), determined without regard to pre-open or after-hours trading or any other trading outside of the trading hours of the regular
trading session (including any extensions thereof). 
 “Warrant Agent” means the warrant agent set forth in the
preamble hereof or the successor or successors of such Warrant Agent appointed in accordance with the terms hereof. 
 “Warrant
Certificates” means those certain warrant certificates evidencing the Warrants, substantially in the form of Exhibit A attached hereto. 

  
 9 

 “Warrant Register” has the meaning set forth in
Section 8. 
 “Warrants” means those certain warrants to purchase initially up to an
aggregate of 5,645,200 shares of Common Stock at the Exercise Price, subject to adjustment pursuant to Section 5, issued hereunder. 
  

	2.	Warrant Certificates. 

 2.1. Original Issuance of Warrants. (a) On the
Original Issuance Date, one or more Global Warrant Certificates evidencing the Warrants shall be executed by the Company and delivered to the Warrant Agent for countersignature, and the Warrant Agent shall, upon receipt of a Company Order and at the
direction of the Company set forth therein, countersign and deliver such Global Warrant Certificates for original issuance to the Depositary, or its custodian, for crediting to the accounts of its participants for the benefit of the holders of
beneficial interests in the Warrants on the Original Issue Date pursuant to the Applicable Procedures of the Depositary on the Original Issue Date. 

(b) Except as set forth in Sections 2.4, 3.2(d), 6 and 8, the Global Warrant Certificates delivered to the
Depositary (or a nominee thereof) on the Original Issue Date shall be the only Warrant Certificates issued or outstanding under this Agreement. 

(c) Each Warrant Certificate shall evidence the number of Warrants specified therein, and each Warrant evidenced thereby shall represent the
right, subject to the provisions contained herein and therein, to purchase one share of Common Stock, subject to adjustment as provided in Section 5. 

2.2. Form of Warrant Certificates. 

The Warrant Certificates evidencing the Warrants shall be in registered form only and substantially in the form attached hereto as Exhibit
A, shall be dated the date on which countersigned by the Warrant Agent, shall have such insertions as are appropriate or required or permitted by this Agreement and may have such letters, numbers or other marks of identification and such legends
and endorsements typed, stamped, printed, lithographed or engraved thereon as the officers of the Company executing the same may approve (execution thereof to be conclusive evidence of such approval) and as are not inconsistent with the provisions
of this Agreement, or as may be required to comply with any law or with any rule or regulation pursuant thereto or with any rule or regulation of any securities exchange on which the Warrants may be listed, or to conform to usage. 

2.3. Execution and Delivery of Warrant Certificates. 

(a) Warrant Certificates evidencing the Warrants which may be countersigned and delivered under this Agreement are limited to Warrant
Certificates evidencing 5,645,200 Warrants except for Warrant Certificates countersigned and delivered upon registration of transfer of, or in exchange for, or in lieu of, one or more previously countersigned Warrant Certificates pursuant to
Sections 2.4, 3.2(d), 6 and 8. 

  
 10 

 (b) The Warrant Agent is hereby authorized to countersign and deliver Warrant Certificates as
required by Section 2.1 or by Sections 2.4, 3.2(d), 6 or 8. 
 (c) The Warrant
Certificates shall be executed in the corporate name and on behalf of the Company by the Chairman (or any Co-Chairman) of the Board, the Chief Executive Officer, the President or any one of the Vice Presidents
of the Company under corporate seal reproduced thereon and attested to by the Secretary or one of the Assistant Secretaries of the Company, either manually or by facsimile signature printed thereon. The Warrant Certificates shall be manually
countersigned by the Warrant Agent and shall not be valid for any purpose unless so countersigned. In case any officer of the Company whose signature shall have been placed upon any of the Warrant Certificates shall cease to be such officer of the
Company before countersignature by the Warrant Agent and issue and delivery thereof, such Warrant Certificates may, nevertheless, be countersigned by the Warrant Agent and issued and delivered with the same force and effect as though such person had
not ceased to be such officer of the Company, and any Warrant Certificate may be signed on behalf of the Company by such person as, at the actual date of the execution of such Warrant Certificate, shall be a proper officer of the Company, although
at the date of the execution of this Agreement any such person was not such officer. 
 2.4. Global Warrant Certificates. 

(a) Any Global Warrant Certificate shall bear the legend substantially in the form set forth in Exhibit A hereto (the “Global
Warrant Legend”). 
 (b) So long as a Global Warrant Certificate is registered in the name of the Depositary or its nominee,
members of, or participants in, the Depositary (“Agent Members”) shall have no rights under this Agreement with respect to the Warrants evidenced by such Global Warrant Certificate held on their behalf by the Depositary or
its custodian, and the Depositary may be treated by the Company, the Warrant Agent and any agent of the Company or the Warrant Agent as the absolute owner of such Warrants, and as the sole Holder of such Warrant Certificate, for all purposes.
Accordingly, any such Agent Member’s beneficial interest in such Warrants will be shown only on, and the transfer of such interest shall be effected only through, records maintained by the Depositary or its nominee or its Agent Members, and
neither the Company nor the Warrant Agent shall have any responsibility or liability with respect to such records maintained by the Depositary or its nominee or its Agent Members. Notwithstanding the foregoing, nothing herein shall prevent the
Company, the Warrant Agent or any agent of the Company or the Warrant Agent from giving effect to any written certification, proxy or other authorization furnished by the Depositary or impair, as between the Depositary and its Agent Members, the
operation of customary practices governing the exercise of the rights of a holder of any security. 
 (c) Any holder of a beneficial
interest in Warrants evidenced by a Global Warrant Certificate registered in the name of the Depositary or its nominee shall, by acceptance of such beneficial interest, agree that transfers of beneficial interests in the Warrants evidenced by such
Global Warrant Certificate may be effected only through a book-entry system maintained by the Holder of such Global Warrant Certificate (or its agent), and that ownership of a beneficial interest in Warrants evidenced thereby shall be reflected
solely in such book-entry form. 

  
 11 

 (d) Transfers of a Global Warrant Certificate registered in the name of the Depositary or its
nominee shall be limited to transfers in whole, and not in part, to the Depositary, its successors, and their respective nominees except as set forth in Section 2.4(e). Interests of beneficial owners in a Global Warrant
Certificate registered in the name of the Depositary or its nominee shall be transferred in accordance with the Applicable Procedures of the Depositary. 

(e) A Global Warrant Certificate registered in the name of the Depositary or its nominee shall be exchanged for Definitive Warrant
Certificates only if the Depositary (i) has notified the Company that it is unwilling or unable to continue as or ceases to be a clearing agency registered under Section 17A of the Exchange Act and (ii) a successor to the Depositary
registered as a clearing agency under Section 17A of the Exchange Act is not able to be appointed by the Company within 90 days or the Depositary is at any time unwilling or unable to continue as Depositary and a successor to the Depositary is
not able to be appointed by the Company within 90 days. In any such event, a Global Warrant Certificate registered in the name of the Depositary or its nominee shall be surrendered to the Warrant Agent for cancellation in accordance with
Section 3.5, and the Company shall execute, and the Warrant Agent shall countersign and deliver, to each beneficial owner identified by the Depositary, in exchange for such beneficial owner’s beneficial interest in
such Global Warrant Certificate, Definitive Warrant Certificates evidencing, in the aggregate, the number of Warrants theretofore represented by such Global Warrant Certificate with respect to such beneficial owner’s respective beneficial
interest. Any Definitive Warrant Certificate delivered in exchange for an interest in a Global Warrant Certificate pursuant to this Section 2.4(e) shall not bear the Global Warrant Legend. Interests in any Global Warrant
Certificate may not be exchanged for Definitive Warrant Certificates other than as provided in this Section 2.4(e). 

(f) The holder of a Global Warrant Certificate registered in the name of the Depositary or its nominee may grant proxies and otherwise
authorize any Person, including Agent Members and Persons that may hold interests through Agent Members, to take any action which a Holder of a Warrant Certificate is entitled to take under this Agreement or such Global Warrant Certificate. 

(g) Each Global Warrant Certificate will evidence such of the outstanding Warrants as will be specified therein and each shall provide that it
evidences the aggregate number of outstanding Warrants from time to time endorsed thereon and that the aggregate number of outstanding Warrants evidenced thereby may from time to time be reduced, to reflect exercises or expirations. Any endorsement
of a Global Warrant Certificate to reflect the amount of any decrease in the aggregate number of outstanding Warrants evidenced thereby will be made by the Warrant Agent (i) in the case of an exercise, in accordance with the Applicable
Procedures as required by Section 3.2(c) or (ii) in the case of an expiration, in accordance with Section 3.2(b). 

(h) The Company initially appoints DTC to act as Depositary with respect to the Global Warrant Certificates. 

  
 12 

 (i) Every Warrant Certificate authenticated and delivered in exchange for, or in lieu of, a
Global Warrant Certificate or any portion thereof, pursuant to this Section 2.4 or Sections 8 or 10, shall be authenticated and delivered in the form of, and shall be, a Global Warrant Certificate, and a
Global Warrant Certificate may not be exchanged for a Definitive Warrant Certificate, in each case, other than as provided in Section 2.4(e). Whenever any provision herein refers to issuance by the Company and
countersignature and delivery by the Warrant Agent of a new Warrant Certificate in exchange for the portion of a surrendered Warrant Certificate that has not been exercised, in lieu of the surrender of any Global Warrant Certificate and the
issuance, countersignature and delivery of a new Global Warrant Certificate in exchange therefor, the Warrant Agent may endorse such Global Warrant Certificate to reflect a reduction in the number of Warrants evidenced thereby in the amount of
Warrants so evidenced that have been so exercised. 
 (j) Beneficial interests in any Global Warrant Certificate may be transferred to
Persons who take delivery thereof in the form of a beneficial interest in the same Global Warrant Certificate in accordance with the Applicable Procedures. 

(k) At such time as all Warrants evidenced by a particular Global Warrant Certificate have been exercised or expired in whole and not in part,
such Global Warrant Certificate shall, if not in custody of the Warrant Agent, be surrendered to or retained by the Warrant Agent for cancellation in accordance with Section 3.5. 

 

	3.	Exercise and Expiration of Warrants. 

 3.1. Right to Acquire Common Stock Upon
Exercise. Each Warrant Certificate shall, when countersigned by the Warrant Agent, entitle the Holder thereof, subject to the provisions thereof and of this Agreement, to acquire from the Company, for each Warrant evidenced thereby one share of
Common Stock at the Exercise Price, subject to adjustment as provided in this Agreement. The Exercise Price, and the number of shares of Common Stock obtainable upon exercise of each Warrant, shall be adjusted from time to time as required by
Section 5.1. 
 3.2. Exercise and Expiration of Warrants. 

(a) Exercise of Warrants. Subject to and upon compliance with the terms and conditions set forth herein, a Holder of a Warrant
Certificate may exercise all or any whole number of the Warrants evidenced thereby, on any Business Day from and after the Original Issue Date until 5:00 p.m., New York time, on the Expiration Date, for the shares of Common Stock obtainable
thereunder. 
 (b) Expiration of Warrants. The Warrants, to the extent not exercised prior thereto, shall terminate and become void
as of 5:00 p.m., New York time, on the Expiration Date. 
 (c) Method of Exercise. In order to exercise all or any of the Warrants
represented by a Warrant Certificate, the Holder thereof must (i) (x) in the case of a Global Warrant Certificate, provide notice of the number of Warrants being exercised and, if applicable, whether Cashless Exercise is being elected with
respect thereto, and deliver such Warrants by book-entry transfer through the facilities of the Depositary, to the Warrant Agent in accordance 

  
 13 

 
with the Applicable Procedures and otherwise comply with the Applicable Procedures in respect of the exercise of such Warrants or (y) in the case of a Definitive Warrant Certificate, at the
Corporate Agency Office (A) surrender to the Warrant Agent the Warrant Certificate evidencing such Warrants and (B) deliver to the Warrant Agent a written notice of the Holder’s election to exercise the number of the Warrants
specified therein and, if applicable, whether Cashless Exercise is being elected with respect thereto, duly executed by such Holder, which notice shall be in the form of the notice on the reverse of, or attached to, such Warrant Certificate and
(ii) pay to the Warrant Agent an amount equal to (x) all taxes required to be paid by the Holder, if any, pursuant to Section 3.4 prior to, or concurrently with, exercise of such Warrants and (y) except in
the case of a Cashless Exercise, the aggregate of the Exercise Price in respect of each share of Common Stock into which such Warrants are exercisable, in case of (x) and (y), by wire transfer in immediately available funds, to the account (No.
530-354616; ABA No. 021000021; Reference: Avaya Holdings Warrants; Attention: Reorg – Dept.) of the Company at the Warrant Agent or such other account of the Company at such banking institution as
the Company shall have given notice to the Warrant Agent and such Holder in accordance with Section 11.1(b). 

(d) Partial Exercise. If fewer than all the Warrants represented by a Warrant Certificate are exercised, (i) in the case of
exercise of Warrants evidenced by a Global Warrant Certificate, the Warrant Agent shall endorse the “Schedule of Decreases of Warrants” attached to such Global Warrant Certificate to reflect the Warrants being exercised and (ii) in
the case of exercise of Warrants evidenced by a Definitive Warrant Certificate, such Definitive Warrant Certificate shall be surrendered and a new Definitive Warrant Certificate of the same tenor and for the number of Warrants which were not
exercised shall be executed by the Company. The Warrant Agent shall countersign the new Definitive Warrant Certificate, registered in such name or names, subject to the provisions of Section 8 regarding registration of
transfer and payment of governmental charges in respect thereof, as may be directed in writing by the Holder, and shall deliver the new Definitive Warrant Certificate to the Person or Persons in whose name such new Warrant Certificate is so
registered. The Company, whenever required by the Warrant Agent, will supply the Warrant Agent with Definitive Warrant Certificates duly executed on behalf of the Company for such purpose. 

(e) Issuance of Common Stock. Upon due exercise of Warrants evidenced by any Warrant Certificate in conformity with the foregoing
provisions of Section 3.2(c), the Warrant Agent shall, when actions specified in Section 3.2(c)(i) have been effected and any payment specified in Section 3.2(c)(ii) is
received, deliver to the Company the notice of exercise received pursuant to Section 3.2(c)(i), deliver or deposit all funds received as instructed in writing by the Company and advise the Company by telephone at the
end of such day of the amount of funds so deposited to its account. The Company shall thereupon, as promptly as practicable, and in any event within five Business Days after the Exercise Date referred to below, (i) determine the number of
shares of Common Stock issuable pursuant to exercise of such Warrants pursuant to Section 3.6 or, if Cashless Exercise applies, Section 3.7 and (ii) (x) in the case of exercise of Warrants
evidenced by a Global Warrant Certificate, deliver or cause to be delivered to the Recipient (as defined below) in accordance with the Applicable Procedures shares of Common Stock in book-entry form to be so held through the facilities of DTC in an
amount equal to, or, if the Common Stock may not then be held in book-entry form through the facilities of DTC, duly executed certificates representing, or (y) in the case of exercise of Warrants evidenced by Definitive Warrant Certificates,
execute or cause to be executed and 

  
 14 

 
deliver or cause to be delivered to the Recipient (as defined below) a certificate or certificates representing, in case of (x) and (y), the aggregate number of shares of Common Stock
issuable upon such exercise (based upon the aggregate number of Warrants so exercised), as so determined, together with an amount in cash in lieu of any fractional share(s), if the Company so elects pursuant to Section 5.2.
The shares of Common Stock in book-entry form or certificate or certificates representing shares of Common Stock so delivered shall be, to the extent possible, in such denomination or denominations as such Holder shall request in the applicable
notice of exercise and shall be registered or otherwise placed in the name of, and delivered to, the Holder or, subject to Section 3.4, such other Person as shall be designated by the Holder in such notice (the Holder or
such other Person being referred to herein as the “Recipient”). 
 (f) Time of Exercise. Each exercise of a
Warrant shall be deemed to have been effected immediately prior to the close of business on the day on which each of the requirements for exercise of such Warrant specified in Section 3.2(c) has been duly satisfied (the
“Exercise Date”). At such time, subject to Section 5.1(e)(iv), shares of Common Stock in book-entry form or the certificates for the shares of Common Stock issuable upon such exercise as
provided in Section 3.2(e) shall be deemed to have been issued and, for all purposes of this Agreement, the Recipient shall, as between such Person and the Company, be deemed to be and entitled to all rights of the holder
or record of such Common Stock. 
 3.3. Application of Funds Upon Exercise of Warrants. Any funds delivered to the Warrant Agent upon
exercise of any Warrant(s) shall be held by the Warrant Agent in trust for the Company. The Warrant Agent shall promptly deliver and pay to or upon the written order of the Company all funds received by it upon the exercise of any Warrants by bank
wire transfer to an account designated by the Company or as the Warrant Agent otherwise may be directed in writing by the Company. 
 3.4.
Payment of Taxes. The Company shall pay any and all taxes (other than income taxes) that may be payable in respect of the issue or delivery of shares of Common Stock on exercise of Warrants pursuant hereto. The Company shall not be required,
however, to pay any tax or other charge imposed in respect of any transfer involved in the issue and delivery of shares of Common Stock in book-entry form or any certificates for shares of Common Stock or payment of cash or other property to any
Recipient other than the Holder of the Warrant Certificate evidencing the exercised Warrant, and in case of such transfer or payment, the Warrant Agent and the Company shall not be required to issue or deliver any shares of Common Stock in
book-entry form or any certificate or pay any cash until (a) such tax or charge has been paid or an amount sufficient for the payment thereof has been delivered to the Warrant Agent or the Company or (b) it has been established to the
Company’s satisfaction that any such tax or other charge that is or may become due has been paid. 
 3.5. Cancellation of Warrant
Certificates. Any Definitive Warrant Certificate surrendered for exercise shall, if surrendered to the Company, be delivered to the Warrant Agent. All Warrant Certificates surrendered or delivered to or received by the Warrant Agent for
cancellation pursuant to this Section 3.5 or Section 2.4(e) or 2.4(k) shall be promptly cancelled by the Warrant Agent and shall not be reissued by the Company. The Warrant Agent shall
destroy any such cancelled Warrant Certificates and deliver its certificate of destruction to the Company, unless the Company shall otherwise direct. 

  
 15 

 3.6. Shares Issuable. The number of shares of Common Stock “obtainable upon
exercise” of Warrants at any time shall be the number of shares of Common Stock into which such Warrants are then exercisable. The number of shares of Common Stock “into which each Warrant is exercisable” shall be one share, subject
to adjustment as provided in Section 5.1. 
 3.7. Cashless Exercise. Notwithstanding any provisions herein
to the contrary, if (x) the Exercise Date is a Cashless Exercise Date and (y) the Cashless Exercise Current Market Price of one share of Common Stock is greater than the applicable Exercise Price on the Exercise Date, then, in lieu of
paying to the Company the applicable Exercise Price by wire transfer in immediately available funds, the Holder may elect to receive shares of Common Stock equal to the value (as determined below) of the Warrants or any portion thereof being
exercised (such portion, the “Cashless Exercise Warrants” with respect to such date) by (i) in the case of Warrants evidenced by a Global Warrant Certificate, providing notice to the Warrant Agent pursuant to the
Applicable Procedures or (ii) in the case of Warrants evidenced by a Definitive Warrant Certificate, expressly stating in its notice of exercise, in the case of (i) or (ii), that the Holder desires to effect a “cashless exercise”
(a “Cashless Exercise”) with respect to the Cashless Exercise Warrants, in which event the Company shall issue to the Holder a number of shares of Common Stock with respect to Cashless Exercise Warrants computed using the
following formula (it being understood that any portion of the Warrants being exercised on such date that are not Cashless Exercise Warrants will not be affected by this calculation): 

 

			
		  	X = (Y (A-B)) ÷ A
		
	Where X =	  	the number of shares of Common Stock to be issued to the Holder in respect of the Cashless Exercise Warrants
		
	Y =	  	the number of shares of Common Stock purchasable under the Cashless Exercise Warrants being exercised by the Holder (on the Exercise Date)
		
	A =	  	the applicable Cashless Exercise Current Market Price of one share of Common Stock (on the Exercise Date)
		
	B =	  	 the applicable Exercise Price (as adjusted through and including the Exercise Date).

 The Required Warrant Holders shall have the right to deliver a written notice
(“Cashless Exercise Appraisal Request Notice”) to the Company at any time and from time to time (but in no event more than once in any 12-month period) on any date
that is (x) after the date six months after the Effective Date and (y) not a Listed Date requesting that an Independent Financial Expert calculate the Fair Market Value of one share of Common Stock as of the Cashless Exercise Appraisal
Trigger Date. Upon the occurrence of any Cashless Exercise Appraisal Trigger Date, the provisions of Section 5.3 shall apply. 

  
 16 

	4.	Dissolution, Liquidation or Winding up. 

 Unless Section 5.1(g)
applies, if, on or prior to the Expiration Date, the Company (or any other Person controlling the Company) shall propose a voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company, the Company shall give written
notice thereof to the Warrant Agent and all Holders of Warrant Certificates in the manner provided in Section 11.2 prior to the date on which such transaction is expected to become effective or, if earlier, the record date
for such transaction. Such notice shall also specify the date as of which the holders of record of the shares of Common Stock shall be entitled to exchange their shares for securities, money or other property deliverable upon such dissolution,
liquidation or winding up, as the case may be, on which date each Holder of Warrant Certificates shall receive the securities, money or other property which such Holder would have been entitled to receive had such Holder been the holder of record of
the shares of Common Stock into which the Warrants were exercisable immediately prior to such dissolution, liquidation or winding up (net of the then applicable Exercise Price) and the rights to exercise the Warrants shall terminate. 

Unless Section 5.1(g) applies, in case of any such voluntary or involuntary dissolution, liquidation or winding up
of the Company, the Company shall deposit with the Warrant Agent any funds or other property which the Holders are entitled to receive under this Agreement, together with a Company Order as to the distribution thereof. After receipt of such deposit
from the Company and after receipt of surrendered Warrant Certificates evidencing Warrants, the Warrant Agent shall make payment in appropriate amount to such Person or Persons as it may be directed in writing by the Holder surrendering such Warrant
Certificate. The Warrant Agent shall not be required to pay interest on any money deposited pursuant to the provisions of this Section 4 except such as it shall agree with the Company to pay thereon. Any moneys, securities
or other property which at any time shall be deposited by the Company or on its behalf with the Warrant Agent pursuant to this Section 4 shall be, and are hereby, assigned, transferred and set over to the Warrant Agent in
trust for the purpose for which such moneys, securities or other property shall have been deposited; provided that moneys, securities or other property need not be segregated from other funds, securities or other property held by the
Warrant Agent except to the extent required by law. 
  

	5.	Adjustments. 

 5.1. Adjustments. In order to prevent dilution of the rights
granted under the Warrants and to grant the Holders certain additional rights, the Exercise Price shall be subject to adjustment from time to time as provided in this Section 5.1 and the number of shares of Common Stock
obtainable upon exercise of Warrants shall be subject to adjustment from time to time as provided in this Section 5.1. 

(a) Subdivisions and Combinations. In the event the Company shall, at any time or from time to time after the Original Issue Date while
any Warrants remain outstanding and unexpired in whole or in part, effect a subdivision (by any stock split or otherwise) of the outstanding shares of Common Stock into a greater number of shares of Common Stock (other than (x) a subdivision
upon a merger or consolidation or sale to which Section 5.1(g) applies or (y) a stock split effected by means of a stock dividend or distribution to which Section 5.1(b) applies), then and in
each such event the Exercise Price in effect at the opening of business on the day after the date upon which such subdivision becomes effective shall be proportionately decreased. Conversely, if the Company shall, at any time or from time to time
after the Original Issue Date while any Warrants remain outstanding and unexpired in whole or in part, effect a combination (by any reverse stock split or otherwise) of the outstanding shares of Common

  
 17 

 
Stock into a smaller number of shares of Common Stock (other than a combination upon a merger or consolidation or sale to which Section 5.1(g) applies), then and in each
such event the Exercise Price in effect at the opening of business on the day after the date upon which such combination becomes effective shall be proportionately increased. Any adjustment under this Section 5.1(a) shall
become effective immediately after the opening of business on the day after the date upon which the subdivision or combination becomes effective. 

(b) Common Stock Dividends. In the event the Company shall, at any time or from time to time after the Original Issue Date while any
Warrants remain outstanding and unexpired in whole or in part, make or issue to the holders of its Common Stock a dividend or distribution payable in, or otherwise make or issue a dividend or other distribution on any class of its capital stock
payable in, shares of Common Stock (other than a dividend or distribution upon a merger or consolidation or sale to which Section 5.1(g) applies), then and in each such event the Exercise Price in effect at the opening of
business on the day after the date for the determination of the holders of shares of Common Stock entitled to receive such dividend or distribution shall be decreased by multiplying such Exercise Price by a fraction (not to be greater than 1): 

(i) the numerator of which shall be the total number of shares of Common Stock issued and outstanding at the close of business
on such date for determination; and 
 (ii) the denominator of which shall be the total number of shares of Common Stock
issued and outstanding at the close of business on such date for determination plus the number of shares of Common Stock issuable in payment of such dividend or distribution. 

Any adjustment under this Section 5.1(b) shall, subject to Section 5.1(e)(iv), become effective
immediately after the opening of business on the day after the date for the determination of the holders of shares of Common Stock entitled to receive such dividend or distribution. 

(c) Reclassifications. A reclassification of the Common Stock (other than any such reclassification in connection with a merger or
consolidation or sale to which Section 5.1(g) applies) into shares of Common Stock and shares of any other class of stock shall be deemed: 

(i) a Property Dividend by the Company to the holders of its Common Stock of such shares of such other class of stock for the
purposes and within the meaning of Section 5.1(d) (and the effective date of such reclassification shall be deemed to be “the date for the determination of the holders of Common Stock entitled to receive such dividend
or distribution” for the purposes and within the meaning of Section 5.1(d)); and 
 (ii) if
the outstanding shares of Common Stock shall be changed into a larger or smaller number of shares of Common Stock as a part of such reclassification, such change shall be deemed a subdivision or combination, as the case may be, of the outstanding
shares of Common Stock for the purposes and within the meaning of Section 5.1(a) (and the effective date of such reclassification shall be deemed to be “the date upon which such subdivision becomes effective” or
“the date upon which such combination becomes effective,” as applicable, for the purposes and within the meaning of Section 5.1(a)). 

  
 18 

 (d) Property Dividends. In the event the Company shall, at any time or from time to time
after the Original Issue Date while any Warrants remain outstanding and unexpired in whole or in part, make or issue any Property Dividend (other than a Received Dividend or a dividend or distribution to which
Section 5.1(a) or Section 5.1(b) applies) to the holders of Common Stock, then and in each such event, the Exercise Price in effect immediately prior to the close of business on the date for the
determination of the holders of Common Stock entitled to receive such dividend or distribution shall be decreased (to an amount not less than the lesser of the par value of the Common Stock as of the date hereof and such par value as of such date of
determination) by an amount equal to the amount of the cash and the Fair Market Value of the securities and other non-cash property comprising such Property Dividend so distributed to one share of Common
Stock. 
 Any adjustment under this Section 5.1(d) shall, subject to Section 5.1(e)(v)
become effective immediately prior to the opening of business on the day after the date for the determination of the holders of Common Stock entitled to receive such Property Dividend. 

For purposes of clarity, if a declared Property Dividend would have reduced the Exercise Price to an amount below the par value per share of
the Common Stock, the Exercise Price will be reduced to the par value per share of the Common Stock and any remaining Fair Market Value of the Property Dividend that would have resulted in a reduction of the Exercise Price below the par value per
share of the Common Stock shall be disregarded. 
 Rights or warrants issued by the Company to all holders of its Common Stock entitling the
holders thereof to subscribe for or purchase shares of Common Stock, which rights or warrants (A) are deemed to be transferred with such shares of Common Stock, (B) are not exercisable and (C) are also issued in respect of future
issuances of Common Stock, in each case in clauses (A) through (C) until the occurrence of a specified event or events (“Trigger Event”), shall for purposes of this Section 5.1(d) not be
deemed distributed until the occurrence of the earliest Trigger Event. 
 If the Required Warrant Holders object to any determination by the
Board of Directors of the Fair Market Value of the securities or other non-cash property (other than any securities listed or admitted for trading on any U.S. national securities exchange) comprising all or
any portion of any Property Dividend, the Required Warrant Holders shall have the right to deliver a written notice (“Property Dividend Appraisal Request Notice”) to the Company within 10 days after the Company delivers
written notice to Holders pursuant to Section 11.2 of such Property Dividend requesting that an Independent Financial Expert calculate the Fair Market Value of such securities or other
non-cash property as of the date of determination referred to above. Upon the occurrence of any Property Dividend Appraisal Trigger Date, the provisions of Section 5.3 shall apply.

  
 19 

  (e) Other Provisions Applicable to Adjustments. The following provisions shall be
applicable to the making of adjustments to the Exercise Price and the number of shares of Common Stock into which each Warrant is exercisable under Section 5.1: 

(i) Treasury Stock. The dividend or distribution of any issued shares of Common Stock owned or held by or for the
account of the Company shall be deemed a dividend or distribution of shares of Common Stock for purposes of Section 5.1(b). The Company shall not make or issue any dividend or distribution on shares of Common Stock held in
the treasury of the Company. For the purposes of Section 5.1(b), the number of shares of Common Stock at any time outstanding shall not include shares held in the treasury of the Company. 

(ii) When Adjustments Are to be Made. The adjustments required by Sections 5.1(a),
5.1(b), 5.1(c), and 5.1(d) shall be made whenever and as often as any specified event requiring an adjustment shall occur, except that no adjustment of the Exercise Price that would otherwise be required shall be made unless and
until such adjustment either by itself or with other adjustments not previously made increases or decreases the Exercise Price immediately prior to the making of such adjustment by at least 1%. Any adjustment representing a change of less than such
minimum amount (except as aforesaid) shall be carried forward and made as soon as such adjustment, together with other adjustments required by Sections 5.1(a), 5.1(b), 5.1(c), and 5.1(d) and not
previously made, would result in such minimum adjustment. 
 (iii) Fractional Interests. In computing adjustments
under Section 5.1, fractional interests in Common Stock shall be taken into account to the nearest one-thousandth of a share. 

(iv) Deferral of Issuance Upon Exercise. In any case in which Section 5.1(b) shall require
that a decrease in the Exercise Price be made effective prior to the occurrence of a specified event and any Warrant is exercised after the time at which the adjustment became effective but prior to the occurrence of such specified event and, in
connection therewith, Section 5.1(f) shall require a corresponding increase in the number of shares of Common Stock into which each Warrant is exercisable, the Company may elect to defer (but not in any event later than the
Expiration Date or the closing date of the applicable Sale Transaction) until the occurrence of such specified event (A) the issuance to the Holder of the Warrant Certificate evidencing such Warrant (or other Person entitled thereto) of, and
the registration of such Holder (or other Person) as the record holder of, the Common Stock over and above the Common Stock issuable upon such exercise on the basis of the number of shares of Common Stock obtainable upon exercise of such Warrant
immediately prior to such adjustment and to require payment in respect of such number of shares the issuance of which is not deferred on the basis of the Exercise Price in effect immediately prior to such adjustment and (B) the corresponding
reduction in the Exercise Price; provided, however, that the Company shall deliver to such Holder or other person a due bill or other appropriate instrument that meet any applicable requirements of the principal national securities
exchange or other market on which the Common Stock is then traded and evidences the right of such Holder or other Person to receive, and to become the record holder of, such additional shares of Common Stock, upon the occurrence of such specified
event requiring such adjustment (without payment of any additional Exercise Price in respect of such additional shares). 

  
 20 

  (v) Deferral of Reduction in Exercise Price. In any case in which
Section 5.1(d) shall require that a decrease in the Exercise Price be made effective prior to the occurrence of a specified event and any Warrant is exercised after the time at which the adjustment became effective but
prior to the occurrence of such specified event, the Company may elect to defer (but not in any event later than the Expiration Date or the closing date of the applicable Sale Transaction) until the occurrence of such specified event the
corresponding reduction in the Exercise Price; provided, however, that the Company shall deliver to the Holder of the Warrant Certificate evidencing such Warrant an appropriate instrument that evidences the right of such Holder
to receive from the Company, upon the occurrence of such specified event requiring such adjustment, a cash refund equal to the difference between (x) the Exercise Price paid to the Company on the Exercise Date and (y) the Exercise Price as
so reduced as a result of such adjustment pursuant to Section 5.1(d). 
 (f) Adjustment to Shares Obtainable
Upon Exercise. Whenever the Exercise Price is adjusted as provided in this Section 5.1 (other than Section 5.1(d) to the extent of a Property Dividend that does not include Common Stock), the
number of shares of Common Stock into which a Warrant is exercisable shall simultaneously be adjusted by multiplying such number of shares of Common Stock into which a Warrant is exercisable immediately prior to such adjustment by a fraction, the
numerator of which shall be the Exercise Price immediately prior to such adjustment, and the denominator of which shall be the Exercise Price immediately thereafter. 

(g) Changes in Common Stock. In case at any time or from time to time after the Original Issue Date while any Warrants remain
outstanding and unexpired in whole or in part, the Company shall be a party to or shall otherwise engage in any transaction or series of related transactions constituting: 

(1) a merger of the Company into, a direct or indirect sale of all of the Company’s equity to, a consolidation of the
Company with, or a sale of all or substantially all of the assets of the Company and its Subsidiaries (taken as a whole) to, any other Person in which the previously outstanding shares of Common Stock shall be (either directly or upon subsequent
liquidation) cancelled, reclassified or converted or changed into or exchanged for securities or other property (including cash) or any combination of the foregoing (a “Non-Surviving
Transaction”), or 
 (2) any merger of another Person into the Company in which the previously outstanding
shares of Common Stock shall be cancelled, reclassified or converted or changed into or exchanged for securities of the Company or other property (including cash) or any combination of the foregoing (a “Surviving
Transaction”; any Non-Surviving Transaction or Surviving Transaction being herein called a “Transaction”), 

  
  21 

 then: 

(i) if such Transaction is a Redomestication Transaction or a Sale Transaction (other than a Sale Cash Only Transaction), as a
condition to the consummation of such Transaction, the Company shall (or, in the case of any Non-Surviving Transaction, the Company shall cause such other Person to) execute and deliver to the Warrant Agent a
written instrument providing that: 
 (x) so long as any Warrant remains outstanding in whole or in part (including after
giving effect to the changes specified under clause (y) below), such Warrant, upon the exercise thereof at any time on or after the consummation of such Transaction, shall be exercisable (on such terms and subject to such conditions as shall be
as nearly equivalent as may be practicable to the provisions set forth in this Agreement) into, in lieu of the Common Stock issuable upon such exercise prior to such consummation, only the securities (“Substituted
Securities”) that would have been receivable upon such Transaction by a holder of the number of shares of Common Stock into which such Warrant was exercisable immediately prior to such Transaction assuming, in the case of any such
Transaction, if (as a result of rights of election or otherwise) the kind or amount of securities, cash and other property receivable upon such Sale Transaction is not the same for each share of Common Stock held immediately prior to such Sale
Transaction, (A) such holder of Common Stock is a Person (“Qualifying Person”) that is neither (I) an employee of the Company or of any Subsidiary thereof nor (II) a Person with which the Company consolidated
or into which the Company merged or which merged into the Company or to which such sale or transfer was made, as the case may be (“Constituent Person”), or an Affiliate of a Constituent Person; and (B) such holder makes
a Sale Maximum Securities Election (if applicable); and 
 (y) subject to any applicable reduction in the Exercise Price
pursuant to Section 5.1(g)(ii)(E), the rights and obligations of the Company (or, in the event of a Non-Surviving Transaction, such other Person) and the Holders in respect of
Substituted Securities shall be substantially unchanged to be as nearly equivalent as may be practicable to the rights and obligations of the Company and Holders in respect of Common Stock hereunder as set forth in
Section 3.1 hereof; 
 (ii) if such Transaction is a Sale Transaction (other than a Sale Securities
Only Transaction), then, at the effective time of the consummation of such Sale Transaction: 
 (A) if such Sale Transaction
constitutes a Sale Cash Only Transaction, then any Warrants not exercised prior the closing of such Sale Cash Only Transaction shall automatically terminate and become void; 

(B) if the effective time of the consummation of such Sale Transaction is before the third anniversary of the Original Issue
Date, the Company shall deliver or cause to be delivered to the Holder of the Warrant Certificate evidencing any unexercised Warrants cash and, if applicable, non-cash property other than securities having a
Fair Market Value (in proportion to the cash and any non-cash property other than securities into which shares of Common Stock are being converted, changed or exchanged) in an amount equal to the product of
(x) the aggregate Black-Scholes Value with respect to such Sale Transaction of such Warrants and (y) the Sale Cash Percentage with respect to such Sale Transaction; 

  
  22 

  (C) if the effective time of the consummation of such Sale Transaction is on
or after the third anniversary of the Original Issue Date and before the Expiration Date and the Sale Current Market Price is not greater than the Exercise Price in effect immediately prior to such time, the Company shall deliver or cause to be
delivered to the Holder of a Warrant Certificate evidencing any unexercised Warrants cash and, if applicable, non-cash property other than securities having a Fair Market Value (in proportion to the cash and
any non-cash property other than securities into which shares of Common Stock are being converted, changed or exchanged) in an amount equal to the product of (x) the aggregate Black-Scholes Value with
respect to such Sale Transaction of such Warrants and (y) the Sale Cash Percentage with respect to such Sale Transaction; 

(D) if the effective time of the consummation of such Sale Transaction is on or after the third anniversary of the Original
Issue Date and before the Expiration Date and the Sale Current Market Price is greater than the Exercise Price in effect immediately prior to such time, the Company shall deliver or cause to be delivered to the Holder of the Warrant Certificate
evidencing any unexercised Warrants cash and, if applicable, non-cash property other than securities having a Fair Market Value (in proportion to the cash and any
non-cash property other than securities into which shares of Common Stock are being converted, changed or exchanged) in an amount equal to the product of (x) the excess of the Sale Current Market Price
over such Exercise Price and (y) the Sale Cash Percentage with respect to such Sale Transaction; and 
 (E) if such Sale
Transaction is not a Sale Cash Only Transaction, the Exercise Price of each Warrant immediately prior to such time shall be decreased (to an amount not less than the lesser of the par value of the Common Stock as of the date hereof and such par
value as of such date of determination)) by an amount equal to the product of (x) such Exercise Price and (y) the Sale Cash Percentage with respect to such Sale Transaction; and 

(iii) with respect to any Redomestication Transaction or Sale Transaction (other than a Sale Cash Only Transaction), such
written instrument under clause (i) above shall provide for adjustments which, for events subsequent to the effective date of such written instrument, shall be as nearly equivalent as may be practicable to the adjustments provided for in this
Section 5. The above provisions of this Section 5.1(g) shall similarly apply to successive Transactions. 

(iv) If the Required Warrant Holders object to any determination by the Board of Directors of the Fair Market Value of the non-cash property other than securities or of the non-cash property (other than any securities listed or admitted for trading on any U.S. national securities exchange)
receivable upon conversion, change or exchange of shares 

  
  23 

 
of Common Stock in any Sale Transaction, the Required Warrant Holders shall have the right to deliver a written notice (“Sale Transaction Appraisal Request Notice”) to the
Company within 10 Business Days after the Company delivers written notice to Holders pursuant to Section 11.2 of such Sale Transaction requesting that an Independent Financial Expert calculate (x) the Fair Market Value
of the non-cash property other than securities and non-cash property (other than any securities listed or admitted for trading on a U.S. national securities exchange) so
receivable, in each case as of the date of consummation of such Sale Transaction, and (y) the Black-Scholes Value with respect to such Sale Transaction. Upon the occurrence of any Sale Transaction Appraisal Trigger Date, the provisions of
Section 5.3 shall apply. 
  (h) Compliance with Governmental Requirements. Before taking any action
that would cause an adjustment reducing the Exercise Price below the then par value of any of the shares of Common Stock into which the Warrants are exercisable, the Company will take any corporate action that may be necessary in order that the
Company may validly and legally issue fully paid and non-assessable shares of such Common Stock at such adjusted Exercise Price. 

(i) Optional Tax Adjustment. The Company may at its option, at any time during the term of the Warrants, increase the number of shares
of Common Stock into which each Warrant is exercisable, or decrease the Exercise Price, in addition to those changes required by Sections 5.1(a), 5.1(b), 5.1(c), and 5.1(d), as deemed advisable by the
Board of Directors of the Company, in order that any event treated for Federal income tax purposes as a dividend of stock or stock rights shall not be taxable to the recipients. 

(j) Warrants Deemed Exercisable. For purposes solely of this Section 5, the number of shares of Common Stock
which the holder of any Warrant would have been entitled to receive had such Warrant been exercised in full at any time or into which any Warrant was exercisable at any time shall be determined assuming such Warrant was exercisable in full at such
time. 
 (k) Notice of Adjustment. Upon the occurrence of each adjustment of the Exercise Price or the number of shares of Common
Stock into which a Warrant is exercisable pursuant to this Section 5.1, the Company at its expense shall promptly: 

(i) compute such adjustment in accordance with the terms hereof; 

(ii) after such adjustment becomes effective, deliver to all Holders in accordance with
Section 11.1(b) a notice setting forth such adjustment (including the kind and amount of securities, cash or other property for which the Warrants shall be exercisable and the Exercise Price) and showing in detail the facts
upon which such adjustment is based; and 
 (iii) deliver to the Warrant Agent a certificate of the Treasurer of the Company
setting forth the Exercise Price and the number of shares of Common Stock into which each Warrant is exercisable after such adjustment and setting forth a brief statement of the facts requiring such adjustment and the computation by which such
adjustment was made (including a description of the basis on which the Current Market Price of the 

  
 24 

 
Common Stock or the Fair Market Value of any evidences of indebtedness, shares of capital stock, securities, cash or other assets or consideration used in the computation was determined). As
provided in Section 10.1, the Warrant Agent shall be entitled to rely on such certificate and shall be under no duty or responsibility with respect to any such certificate, except to exhibit the same from time to time to
any Holder desiring an inspection thereof during reasonable business hours. 
  (l) Statement on Warrant Certificates.
Irrespective of any adjustment in the Exercise Price or amount or kind of shares into which the Warrants are exercisable, Warrant Certificates theretofore or thereafter issued may continue to express the same Exercise Price initially applicable or
amount or kind of shares initially issuable upon exercise of the Warrants evidenced thereby pursuant to this Agreement. 
 (m)
[Reserved.] 
 (n) Certain Actions Respecting Received Cash Dividends. If the Company shall have given notice to the Warrant
Agent of its intention to treat a distribution as a Received Dividend hereunder, the Company shall not permit the date for the determination of holders of shares of Common Stock entitled to receive any other dividend or distribution referred to in
Sections 5.1(b) or 5.1(d), the effective date of any subdivision or combination referred to in Section 5.1(a) or the date of consummation of any Transaction to be the same date as the date
which is, or is the day before, the date for determination of holders of Common Stock entitled to receive such Received Dividend. 
 5.2.
Fractional Interest. The Company shall not be required upon the exercise of any Warrant (including, without limitation, under Section 3.7) to issue any fractional shares, but may, in lieu of issuing any fractional
shares of Common Stock make an adjustment therefore in cash on the basis of the Current Market Price per share of Common Stock on the date of such exercise. If Warrant Certificates evidencing more than one Warrant shall be presented for exercise at
the same time by the same Holder, the number of full shares of Common Stock which shall be issuable upon such exercise thereof shall be computed on the basis of the aggregate number of Warrants so to be exercised. The Holders, by their acceptance of
the Warrant Certificates, expressly waive their right to receive any fraction of a share of Common Stock or a stock certificate representing a fraction of a share of Common Stock if such amount of cash is paid in lieu thereof. 

5.3. Independent Financial Expert Appraisals. 

(a) In connection with any Appraisal Trigger Date, the Fair Market Value of one share of Common Stock (in the case of a Cashless Exercise
Appraisal Request Notice) or of securities or other non-cash property (other than any securities listed or admitted for trading on any U.S. national securities exchange) that (x) is receivable upon
conversion, change or exchange of shares of Common Stock in any Sale Transaction (in the case of a Sale Transaction Appraisal Request Notice) or (y) comprises a Property Dividend (in the case of a Property Dividend Appraisal Request Notice)
and, in each case, the related components and values set forth in the definitions of Fair Market Value shall be determined (the “Fair Market Value Determinations”) by an Independent Financial Expert selected as specified in
Section 5.3(c) below. 

  
  25 

  (b) In connection with any Sale Transaction that is not Sale Securities Only Transaction, the
Black-Scholes Value shall be determined (the “Black-Scholes Value Determinations”) by an Independent Financial Expert selected by (i) unless clause (ii) applies, the Company or (ii) if both (x) all or any
portion of the property receivable upon conversion, change or exchange of shares of Common Stock in such Sale Transaction comprises non-cash property (other than any securities listed or admitted for trading
on any U.S. national securities exchange) and (y) the Required Warrant Holders have duly delivered a Sale Transaction Appraisal Request Notice with respect to such Sale Transaction pursuant to Section 5.1(g), the
Independent Financial Expert selected as specified in Section 5.3(c) below. The Black-Scholes Value Determinations made by an Independent Financial Expert selected by the Company pursuant to clause (i) of this
Section 5.3(b) shall be final and conclusive and shall be completed no later than the date 30 days after the date the Company delivers written notice to Holders pursuant to Section 11.2 of the
related Sale Transaction, and the fees and expenses of any such Independent Financial Expert shall be borne by the Company. Upon completion of such Black-Scholes Value Determinations, within two Business Days after the date of completion thereof,
the Company shall cause the complete written report of the Independent Financial Expert as to such Black Scholes Value Determinations to be delivered to the Holders in accordance with Section 11.1(b). 

(c) No later than two Business Days after the Appraisal Trigger Date, the Company shall provide notice of an Independent Financial Expert
selected by the Company (the “Company Selected Expert”) to make the related Fair Market Value Determinations (and, if such Appraisal Trigger Date is a Sale Transaction Appraisal Trigger Date, the related Black-Scholes Value
Determinations) (collectively, as applicable, the “Determinations”) to each Holder in accordance with Section 11.1 (the date on which such notice is delivered, the “Notice
Date”). In the event that the Required Warrant Holders object in writing to the Company Selected Expert within 7 days of the Notice Date, then the Company and Required Warrant Holders shall jointly select an Independent Financial Expert
by no later than the 17th day after the Notice Date. If the Company and the Required Warrant Holders are unable to agree on a jointly selected Independent Financial Expert, the Required Warrant
Holders shall select promptly, but no later than the 17th day after the Notice Date, a separate Independent Financial Expert and such Independent Financial Expert and the Company Selected Expert
shall select promptly, but no later than the 19th day after the Notice Date, a third Independent Financial Expert to make the Determinations. The Determinations of the finally selected Independent
Financial Expert shall be final and conclusive, and the fees and expenses of any such Independent Financial Experts shall be borne by the Company. The Determinations shall be completed no later than the date that is 30 days after the related
Appraisal Trigger Date. 
 (d) Upon completion of the Determinations in respect of any Appraisal Request Notice, within two Business Days
after the date of completion thereof, the Company shall cause the complete written report of the Independent Financial Expert as to such Determinations to be delivered to the Holders in accordance with Section 11.1(b) (the
date of delivery of such report, with respect to an Appraisal Request Notice, the “Appraisal Report Date”). 

  
  26 

  5.4. No Other Adjustments. Except in accordance with
Section 5.1, the applicable Exercise Price and the number of shares of Common Stock obtainable upon exercise of any Warrant will not be adjusted for the issuance of Common Stock or any securities convertible into or
exchangeable for Common Stock or carrying the right to purchase any of the foregoing, including, without limitation 
 (i)
upon the issuance of any other securities by the Company on or after the Original Issue Date, whether or not contemplated by the Plan, or upon the issuance of shares of Common Stock upon the exercise of any such securities; 

(ii) upon the issuance of any shares of Common Stock or other securities or any payments pursuant to the Management Equity
Incentive Plan (as defined in the Plan) or any other equity incentive plan of the Company; 
 (iii) upon the issuance of any
shares of Common Stock pursuant to the exercise of the Warrants; or 
 (iv) upon the issuance of any shares of Common Stock
or other securities of the Company in connection with a business acquisition transaction. 
   

	6.	Loss or Mutilation. 

 If (a) any mutilated Warrant Certificate is surrendered to the
Warrant Agent or (b) both (i) there shall be delivered to the Company and the Warrant Agent (A) a claim by a Holder as to the destruction, loss or wrongful taking of any Warrant Certificate of such Holder and a request thereby for a
new replacement Warrant Certificate, and (B) such indemnity bond as may be required by them to save each of them and any agent of either of them harmless and (ii) such other reasonable requirements as may be imposed by the Company as
permitted by Section 8-405 of the Uniform Commercial Code have been satisfied, then, in the absence of notice to the Company or the Warrant Agent that such Warrant Certificate has been acquired by a
“protected purchaser” within the meaning of Section 8-405 of the Uniform Commercial Code, the Company shall execute and upon its written request the Warrant Agent shall countersign and deliver to the registered Holder of the lost,
wrongfully taken, destroyed or mutilated Warrant Certificate, in exchange therefore or in lieu thereof, a new Warrant Certificate of the same tenor and for a like aggregate number of Warrants. At the written request of such registered Holder, the
new Warrant Certificate so issued shall be retained by the Warrant Agent as having been surrendered for exercise, in lieu of delivery thereof to such Holder, and shall be deemed for purposes of Section 3.2 to have been
surrendered for exercise on the date the conditions specified in clauses (a) or (b) of the preceding sentence were first satisfied. 

Upon the issuance of any new Warrant Certificate under this Section 6, the Company may require the payment of a sum
sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and other expenses (including the fees and expenses of the Warrant Agent and of counsel to the Company) in connection therewith. 

Every new Warrant Certificate executed and delivered pursuant to this Section 6 in lieu of any lost, wrongfully
taken or destroyed Warrant Certificate shall constitute an additional contractual obligation of the Company, whether or not the allegedly lost, wrongfully taken or destroyed Warrant Certificate shall be at any time enforceable by anyone, and shall
be entitled to the benefits of this Agreement equally and proportionately with any and all other Warrant Certificates duly executed and delivered hereunder. 

  
  27 

 The provisions of this Section 6 are exclusive and shall preclude (to
the extent lawful) all other rights or remedies with respect to the replacement of mutilated, lost, wrongfully taken, or destroyed Warrant Certificates. 
  

	7.	Reservation and Authorization of Common Stock. 

 The Company covenants that, for the
duration of the Exercise Period, the Company will at all times reserve and keep available, from its authorized and unissued Common Stock solely for issuance and delivery upon the exercise of the Warrants and free of preemptive rights, such number of
shares of Common Stock and other securities, cash or property as from time to time shall be issuable upon the exercise in full of all outstanding Warrants for cash. The Company further covenants that it shall, from time to time, take all steps
necessary to increase the authorized number of shares of its Common Stock if at any time the authorized number of shares of Common Stock remaining unissued would otherwise be insufficient to allow delivery of all the shares of Common Stock then
deliverable upon the exercise in full of all outstanding Warrants. The Company covenants that all shares of Common Stock issuable upon exercise of the Warrants will, upon issuance, be duly and validly issued, fully paid and nonassessable and will be
free of restrictions on transfer and will be free from all taxes, liens and charges in respect of the issue thereof (other than taxes in respect of any transfer occurring contemporaneously or otherwise specified herein or in connection with a
Cashless Exercise). The Company shall take all such actions as may be necessary to ensure that all such shares of Common Stock may be so issued without violation of any applicable law or governmental regulation or any requirements of any U.S.
national securities exchange upon which shares of Common Stock may be listed (except for official notice of issuance which shall be immediately delivered by the Company upon each such issuance). The Company covenants that all shares of Common Stock
will, at all times that Warrants are exercisable, be duly approved for listing subject to official notice of issuance on each securities exchange, if any, on which the Common Stock is then listed. The Company covenants that the stock certificates
issued to evidence any shares of Common Stock issued upon exercise of Warrants will comply with the Delaware General Corporation Law and any other applicable law. 

The Company hereby authorizes and directs its current and future transfer agents for the Common Stock at all times to reserve stock
certificates for such number of authorized shares as shall be requisite for such purpose. The Warrant Agent is hereby authorized to requisition from time to time from any such transfer agents stock certificates required to honor outstanding Warrants
upon exercise thereof in accordance with the terms of this Agreement, and the Company hereby authorizes and directs such transfer agents to comply with all such requests of the Warrant Agent. The Company will supply such transfer agents with duly
executed stock certificates for such purposes. 

  
  28 

	8.	Warrant Transfer Books. 

 The Warrant Agent will maintain an office (the
“Corporate Agency Office”) in the United States of America, where Warrant Certificates may be surrendered for registration of transfer or exchange and where Warrant Certificates may be surrendered for exercise of Warrants
evidenced thereby, which office is 6201 15th Avenue, Brooklyn, New York 11219 on the Original Issuance Date. The Warrant Agent will give prompt written notice to all Holders of Warrant
Certificates of any change in the location of such office. 
 The Warrant Certificates evidencing the Warrants shall be issued in registered
form only. The Company shall cause to be kept at the office of the Warrant Agent designated for such purpose a warrant register (the “Warrant Register”) in which, subject to such reasonable regulations as the Warrant Agent
may prescribe and such regulations as may be prescribed by law, the Company shall provide for the registration of Warrant Certificates and of transfers or exchanges of Warrant Certificates as herein provided. 

Upon surrender for registration of transfer of any Warrant Certificate at the Corporate Agency Office, the Company shall execute, and the
Warrant Agent shall countersign and deliver, in the name of the designated transferee or transferees, one or more new Warrant Certificates evidencing a like aggregate number of Warrants. 

At the option of the Holder, Warrant Certificates may be exchanged at the office of the Warrant Agent upon payment of the charges hereinafter
provided for other Warrant Certificates evidencing a like aggregate number of Warrants. Whenever any Warrant Certificates are so surrendered for exchange, the Company shall execute, and the Warrant Agent shall countersign and deliver, the Warrant
Certificates of the same tenor and evidencing the same number of Warrants as evidenced by the Warrant Certificates surrendered by the Holder making the exchange. 

All Warrant Certificates issued upon any registration of transfer or exchange of Warrant Certificates shall be the valid obligations of the
Company, evidencing the same obligations, and entitled to the same benefits under this Agreement, as the Warrant Certificates surrendered for such registration of transfer or exchange. 

Every Warrant Certificate surrendered for registration of transfer or exchange shall (if so required by the Company or the Warrant Agent) be
duly endorsed, or be accompanied by a written instrument of transfer in form satisfactory to the Company and the Warrant Agent, duly executed by the Holder thereof or his attorney duly authorized in writing. 

No service charge shall be made for any registration of transfer or exchange of Warrant Certificates; provided, however, the
Company may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any registration of transfer or exchange of Warrant Certificates. 

The Warrant Agent shall, upon request of the Company from time to time, deliver to the Company such reports of registered ownership of the
Warrants and such records of transactions with respect to the Warrants and the shares of Common Stock as the Company may request. The Warrant Agent shall also make available to the Company for inspection by the Company’s

  
  29 

 
agents or employees, from time to time as the Company may request, such original books of accounts and records maintained by the Warrant Agent in connection with the issuance and exercise of
Warrants hereunder, such inspections to occur at the Corporate Agency Office during normal business hours. 
 The Warrant Agent shall keep
copies of this Agreement and any notices given to Holders hereunder available for inspection by the Holders during normal business hours at the Corporate Agency Office. The Company shall supply the Warrant Agent from time to time with such numbers
of copies of this Agreement as the Warrant Agency may request. 
  

	9.	Warrant Holders. 

 9.1. No Voting or Dividend Rights. 

(a) No Holder of a Warrant Certificate evidencing any Warrant shall have or exercise any rights by virtue hereof as a holder of Common Stock of
the Company, including, without limitation, the right to vote, to receive dividends and other distributions as a holder of Common Stock or to receive notice of, or attend, meetings or any other proceedings of the holders of Common Stock. 

(b) The consent of any Holder of a Warrant Certificate shall not be required with respect to any action or proceeding of the Company. 

(c) Except with respect to any Received Dividend or as provided in Section 4, no Holder of a Warrant Certificate, by
reason of the ownership or possession of a Warrant or the Warrant Certificate representing the same, shall have any right to receive any cash dividends, stock dividends, allotments or rights or other distributions paid, allotted or distributed or
distributable to the holders of Common Stock prior to, or for which the relevant record date preceded, the date of the exercise of such Warrant. 

(d) No Holder of a Warrant Certificate shall have any right not expressly conferred hereunder or under, or by applicable law with respect to,
the Warrant Certificate held by such Holder. 
 9.2. Rights of Action. All rights of action against the Company in respect of this
Agreement, except rights of action vested in the Warrant Agent, are vested in the Holders of the Warrant Certificates, and any Holder of any Warrant Certificate, without the consent of the Warrant Agent or the Holder of any other Warrant
Certificate, may, in such Holder’s own behalf and for such Holder’s own benefit, enforce and may institute and maintain any suit, action or proceeding against the Company suitable to enforce, or otherwise in respect of, such Holder’s
right to exercise such Holder’s Warrants in the manner provided in this Agreement. 
 9.3. Treatment of Holders of Warrant
Certificates. Every Holder of a Warrant Certificate, by accepting the same, consents and agrees with the Company, with the Warrant Agent and with every subsequent holder of such Warrant Certificate that, prior to due presentment of such Warrant
Certificate for registration of transfer, the Company and the Warrant Agent may treat the Person in whose name the Warrant Certificate is registered as the owner thereof for all purposes and as the Person entitled to exercise the rights granted
under the Warrants, and neither the Company, the Warrant Agent nor any agent thereof shall be affected by any notice to the contrary. 

  
 30 

 9.4. Communications to Holders. 

(a) If any Holder of a Warrant Certificate applies in writing to the Warrant Agent and such application states that the applicant desires to
communicate with other Holders with respect to its rights under this Agreement or under the Warrants, then the Warrant Agent shall, within five Business Days after the receipt of such application, and upon payment to the Warrant Agent by such
applicant of the reasonable expenses of preparing such list, provide to such applicant a list of the names and addresses of all Holders of Warrant Certificates as of the most recent practicable date. 

(b) Every Holder of Warrant Certificates, by receiving and holding the same, agrees with the Company and the Warrant Agent that neither the
Company nor the Warrant Agent nor any agent of either of them shall be held accountable by reason of the disclosure of any such information as to the names and addresses of the Holders in accordance with Section 9.4(a).

  

	10.	Concerning the Warrant Agent. 

 10.1. Nature of Duties and Responsibilities
Assumed. The Company hereby appoints the Warrant Agent to act as agent of the Company as set forth in this Agreement. The Warrant Agent hereby accepts the appointment as agent of the Company and agrees to perform that agency upon the terms and
conditions set forth in this Agreement and in the Warrant Certificates or as the Company and the Warrant Agent may hereafter agree, by all of which the Company and the Holders of Warrant Certificates, by their acceptance thereof, shall be bound;
provided, however, that the terms and conditions contained in the Warrant Certificates are subject to and governed by this Agreement or any other terms and conditions hereafter agreed to by the Company and the Warrant Agent. 

The Warrant Agent shall not, by countersigning Warrant Certificates or by any other act hereunder, be deemed to make any representations as to
validity or authorization of (i) the Warrants or the Warrant Certificates (except as to its countersignature thereon), (ii) any securities or other property delivered upon exercise of any Warrant, (iii) the accuracy of the computation
of the number or kind or amount of stock or other securities or other property deliverable upon exercise of any Warrant, (iv) the independence of any Independent Financial Expert or (v) the correctness of any of the representations of the
Company made in such certificates that the Warrant Agent receives. The Warrant Agent shall not at any time have any duty to calculate or determine whether any facts exist that may require any adjustments pursuant to
Section 5 hereof with respect to the kind and amount of shares or other securities or any property issuable to Holders upon the exercise of Warrants required from time to time. The Warrant Agent shall have no duty or
responsibility to determine the accuracy or correctness of such calculation or with respect to the methods employed in making the same. The Warrant Agent shall not be accountable with respect to the validity or value (or the kind or amount) of any
shares of Common Stock or of any securities or property which may at any time be issued or delivered upon the exercise of any Warrant or upon any adjustment pursuant to Section 5 hereof,

  
 31 

 
and it makes no representation with respect thereto. The Warrant Agent shall not be responsible for any failure of the Company to make any cash payment or to issue, transfer or deliver any shares
of Common Stock or stock certificates or other securities or property upon the surrender of any Warrant Certificate for the purpose of exercise or upon any adjustment pursuant to Section 5 hereof or to comply with any of
the covenants of the Company contained in Section 5 hereof. 
 The Warrant Agent shall not (i) be liable for
any recital or statement of fact contained herein or in the Warrant Certificates or for any action taken, suffered or omitted by it in good faith on the belief that any Warrant Certificate or any other documents or any signatures are genuine or
properly authorized, (ii) be responsible for any failure on the part of the Company to comply with any of its covenants and obligations contained in this Agreement or in the Warrant Certificates or (iii) be liable for any act or omission
in connection with this Agreement except for its own gross negligence, bad faith or willful misconduct. 
 The Warrant Agent is hereby
authorized to accept and protected in accepting instructions with respect to the performance of its duties hereunder by Company Order and to apply to any such officer named in such Company Order for instructions (which instructions will be promptly
given in writing when requested), and the Warrant Agent shall not be liable for any action taken or suffered to be taken by it in good faith in accordance with the instructions in any Company Order. 

The Warrant Agent may execute and exercise any of the rights and powers hereby vested in it or perform any duty hereunder either itself or by
or through its attorneys, agents or employees, provided, however, reasonable care has been exercised in the selection and in the continued employment of any such attorney, agent or employee. The Warrant Agent shall not be under any
obligation or duty to institute, appear in or defend any action, suit or legal proceeding in respect hereof, unless first indemnified to its satisfaction, but this provision shall not affect the power of the Warrant Agent to take such action as the
Warrant Agent may consider proper, whether with or without such indemnity. The Warrant Agent shall promptly notify the Company in writing of any claim made or action, suit or proceeding instituted against it arising out of or in connection with this
Agreement. 
 The Company shall perform, execute, acknowledge and deliver or cause to be performed, executed, acknowledged and delivered all
such further acts, instruments and assurances as may reasonably be required by the Warrant Agent in order to enable it to carry out or perform its duties under this Agreement. 

The Warrant Agent shall act solely as agent of the Company hereunder and does not assume any obligation or relationship of agency or trust for
or with any of the Holders or any beneficial owners of Warrants. The Warrant Agent shall not be liable except for the failure to perform such duties as are specifically set forth herein or specifically set forth in the Warrant Certificates, and no
implied covenants or obligations shall be read into this Agreement against the Warrant Agent whose duties and obligations shall be determined solely by the express provisions hereof or the express provisions of the Warrant Certificates. 

  
 32 

 10.2. Right to Consult Counsel. The Warrant Agent may at any time consult with legal
counsel satisfactory to it (who may be legal counsel for the Company), and the Warrant Agent shall incur no liability or responsibility to the Company or to any Holder for any action taken, suffered or omitted by it in good faith in accordance with
the opinion or advice of such counsel. 
 10.3. Compensation, Reimbursement and Indemnification. The Company agrees to pay the
Warrant Agent from time to time compensation for all fees and expenses relating to its services hereunder as the Company and the Warrant Agent may agree from time to time and to reimburse the Warrant Agent for reasonable expenses and disbursements,
including reasonable counsel fees incurred in connection with the execution and administration of this Agreement. The Company further agrees to indemnify the Warrant Agent for and save it harmless against any losses, liabilities or reasonable
expenses arising out of or in connection with the acceptance and administration of this Agreement, including the reasonable costs, legal fees and expenses of investigating or defending any claim of such liability, except that the Company shall have
no liability hereunder to the extent that any such loss, liability or expense results from the Warrant Agent’s own gross negligence, bad faith or willful misconduct. 

10.4. Warrant Agent May Hold Company Securities. The Warrant Agent, any Countersigning Agent and any stockholder, director, officer or
employee of the Warrant Agent or any Countersigning Agent may buy, sell or deal in any of the warrants or other securities of the Company or its Affiliates, become pecuniarily interested in transactions in which the Company or its Affiliates may be
interested, contract with or lend money to the Company or its Affiliates or otherwise act as fully and freely as though it were not the Warrant Agent or the Countersigning Agent, respectively, under this Agreement. Nothing herein shall preclude the
Warrant Agent or any Countersigning Agent from acting in any other capacity for the Company or for any other legal entity. 
 10.5.
Resignation and Removal; Appointment of Successor. 
 (a) The Warrant Agent may resign its duties and be discharged from all further
duties and liability hereunder (except liability arising as a result of the Warrant Agent’s own gross negligence or willful misconduct) after giving 30 days’ prior written notice to the Company. The Company may remove the Warrant Agent
upon 30 days’ written notice, and the Warrant Agent shall thereupon in like manner be discharged from all further duties and liabilities hereunder, except as aforesaid. The Warrant Agent shall, at the expense of the Company, cause notice to be
given in accordance with Section 11.1(b) to each Holder of a Warrant Certificate of said notice of resignation or notice of removal, as the case may be. Upon such resignation or removal, the Company shall appoint in writing
a new Warrant Agent. If the Company shall fail to make such appointment within a period of 30 calendar days after it has been notified in writing of such resignation by the resigning Warrant Agent or after such removal, then the Holder of any
Warrant Certificate may apply to any court of competent jurisdiction for the appointment of a new Warrant Agent. Any new Warrant Agent, whether appointed by the Company or by such a court, shall be a corporation doing business under the laws of the
United States or any state thereof in good standing, authorized under such laws to act as Warrant Agent, and having a combined capital and surplus of not less than $25,000,000. The combined capital and surplus of any such new Warrant Agent shall be
deemed to be the combined capital and surplus as set forth in the most recent annual report of its condition published by such Warrant 

  
 33 

 
Agent prior to its appointment, provided, however, such reports are published at least annually pursuant to law or to the requirements of a Federal or state supervising or examining
authority. After acceptance in writing of such appointment by the new Warrant Agent, it shall be vested with the same powers, rights, duties and responsibilities as if it had been originally named herein as the Warrant Agent, without any further
assurance, conveyance, act or deed; but if for any reason it shall be reasonably necessary or expedient to execute and deliver any further assurance, conveyance, act or deed, the same shall be done at the reasonable expense of the Company and shall
be legally and validly executed and delivered by the resigning or removed Warrant Agent. Not later than the effective date of any such appointment, the Company shall file notice thereof with the resigning or removed Warrant Agent. Failure to give
any notice provided for in this Section 10.5(a), however, or any defect therein, shall not affect the legality or validity of the resignation of the Warrant Agent or the appointment of a new Warrant Agent as the case may
be. 
 (b) Any corporation into which the Warrant Agent or any new Warrant Agent may be merged, or any corporation resulting from any
consolidation to which the Warrant Agent or any new Warrant Agent shall be a party, shall be a successor Warrant Agent under this Agreement without any further act, provided that such corporation would be eligible for appointment as successor to the
Warrant Agent under the provisions of Section 10.5(a). Any such successor Warrant Agent shall promptly cause notice of its succession as Warrant Agent to be given in accordance with Section 11.1(b)
to each Holder of a Warrant Certificate at such Holder’s last address as shown on the Warrant Register. 
 10.6. Appointment of
Countersigning Agent. 
 (a) The Warrant Agent may appoint a Countersigning Agent or Agents which shall be authorized to act on behalf of
the Warrant Agent to countersign Warrant Certificates issued upon original issue and upon exchange, registration of transfer or pursuant to Section 6, and Warrant Certificates so countersigned shall be entitled to the
benefits of this Agreement equally and proportionately with any and all other Warrant Certificates duly executed and delivered hereunder. Wherever reference is made in this Agreement to the countersignature and delivery of Warrant Certificates by
the Warrant Agent or to Warrant Certificates countersigned by the Warrant Agent, such reference shall be deemed to include countersignature and delivery on behalf of the Warrant Agent by a Countersigning Agent and Warrant Certificates countersigned
by a Countersigning Agent. Each Countersigning Agent shall be acceptable to the Company and shall at the time of appointment be a corporation doing business under the laws of the United States of America or any State thereof in good standing,
authorized under such laws to act as Countersigning Agent, and having a combined capital and surplus of not less than $25,000,000. The combined capital and surplus of any such new Countersigning Agent shall be deemed to be the combined capital and
surplus as set forth in the most recent annual report of its condition published by such Countersigning Agent prior to its appointment, provided, however, such reports are published at least annually pursuant to law or to the requirements of a
Federal or state supervising or examining authority. 
 (b) Any corporation into which a Countersigning Agent may be merged or any
corporation resulting from any consolidation to which such Countersigning Agent shall be a party, shall be a successor Countersigning Agent without any further act, provided that such corporation would be eligible for appointment as a new
Countersigning Agent under the 

  
 34 

 
provisions of Section 10.6(a), without the execution or filing of any paper or any further act on the part of the Warrant Agent or the Countersigning Agent. Any such
successor Countersigning Agent shall promptly cause notice of its succession as Countersigning Agent to be given in accordance with Section 11.1(b) to each Holder of a Warrant Certificate at such Holder’s last address
as shown on the Warrant Register. 
 (c) A Countersigning Agent may resign at any time by giving 30 days’ prior written notice thereof
to the Warrant Agent and to the Company. The Warrant Agent may at any time terminate the agency of a Countersigning Agent by giving 30 days’ prior written notice thereof to such Countersigning Agent and to the Company. 

(d) The Warrant Agent agrees to pay to each Countersigning Agent from time to time reasonable compensation for its services under this
Section 10.6 and the Warrant Agent shall be entitled to be reimbursed for such payments, subject to the provisions of Section 10.3. 

(e) Any Countersigning Agent shall have the same rights and immunities as those of the Warrant Agent set forth in
Section 10.1. 
  

	11.	Notices. 

 11.1. Notices Generally. 

(a) Any request, notice, direction, authorization, consent, waiver, demand or other communication permitted or authorized by this Agreement to
be made upon, given or furnished to or filed with the Company or the Warrant Agent by the other party hereto or by any Holder shall be sufficient for every purpose hereunder if in writing (including telecopy communication) and telecopied or
delivered by hand (including by courier service) as follows: 
  

			
	 If to the Company, to it at:

		
	 Avaya Holdings Corp.
	  	
	 4655 Great America Parkway
	  	
	 Santa Clara, CA 95054-1233
	  	
	 Attention: Patrick O’Malley
	  	
	 Telecopy no.: (408) 496-3600
	  	
		
	 Or
	  	
	
	 If to the Warrant Agent, to it at:

		
	 American Stock Transfer & Trust Company, LLC
	  	
	 6201 15th Avenue
	  	
	 Brooklyn, New York 11219
	  	
	 Attention: Relationship Management
	  	

 or, in either case, such other address as shall have been set forth in a notice delivered in accordance with this
Section 11.1(a). 

  
 35 

 All such communications shall, when so telecopied or delivered by hand, be effective when
telecopied with confirmation of receipt or received by the addressee, respectively. 
 Any Person that telecopies any communication
hereunder to any Person shall, on the same date as such telecopy is transmitted, also send, by first class mail, postage prepaid and addressed to such Person as specified above, an original copy of the communication so transmitted. 

(b) Where this Agreement provides for notice to Holders of any event, such notice shall be sufficiently given (unless otherwise herein
expressly provided) if in writing and mailed, first-class postage prepaid, to each Holder affected by such event, at the address of such Holder as it appears in the Warrant Register, not later than the latest date, and not earlier than the earliest
date, prescribed for the giving of such notice. In any case where notice to Holders is given by mail, neither the failure to mail such notice, nor any defect in any notice so mailed, to any particular Holder shall affect the sufficiency of such
notice with respect to other Holders. Where this Agreement provides for notice in any manner, such notice may be waived in writing by the Person entitled to receive such notice, either before or after the event, and such waiver shall be the
equivalent of such notice. 
 In case by reason of the suspension of regular mail service or by reason of any other cause it shall be
impracticable to give such notice by mail, then such notification as shall be made by a method approved by the Warrant Agent as one which would be most reliable under the circumstances for successfully delivering the notice to the addressees shall
constitute a sufficient notification for every purpose hereunder. 
 Where this Agreement provides for notice of any event to a Holder of a
Global Warrant Certificate, such notice shall be sufficiently given if given to the Depositary (or its designee), pursuant to its Applicable Procedures, not later than the latest date (if any), and not earlier than the earliest date (if any),
prescribed for the giving of such notice. 
 11.2. Required Notices to Holders. In the event the Company shall: 

(i) take any action that would result in an adjustment to the Exercise Price and/or the number of shares of Common Stock
issuable upon exercise of a Warrant pursuant to Section 5.1; or 
 (ii) consummate any Sale
Transaction; or 
 (iii) either amend this Agreement or the Warrants created hereby pursuant to Article 13 or deliver any
proposed amendment to this Agreement or the Warrants created hereby to one or more Holders for purposes of obtaining the consent thereof to such amendment; or 

(iv) set any record date for determining the holders of shares of Common Stock entitled to vote on any matter or participate in
any dividend or distribution; or 

  
 36 

 (v) hold a meeting of holders of its shares of Common Stock or receive notice at
its registered office in Delaware or at its principal place of business of any action of its holders of Common Stock taken by written consent; or 

(vi) make or pay any Property Dividend or other dividend or distribution to holders of shares of Common Stock; or 

(vii) provide written notice to holders of shares of Common Stock of any other matters or events (other than pursuant to a
filing with the Commission or by distributing a press release through a widely disseminated news or wire service) (any of (i)-(vii), an “Action”); 

then, in each such case, unless the Company has made a filing with the Commission, including pursuant to a Current Report on Form 8-K, which filing discloses such Action, the Company shall cause to be filed with the Warrant Agent and shall give to each Holder of a Warrant Certificate, in accordance with
Section 11.1(b), a written notice of such Action. Such notice shall be given promptly after taking such Action or (a) in the case of any Action covered by clause (ii), above, at least 10 Business Days prior to the
closing of the relevant Sale Transaction; or (b) in the case of any Action covered by clause (iv) above, at least 9 days prior to such record date. In any such case, any such notice shall be given prior to such earlier time as notice
thereof shall be required to be given pursuant to Rule l0b-17 under the Exchange Act. 
 If at any
time the Company shall cancel any of the Actions for which notice has been given under this Section 11.2 prior to the consummation thereof, the Company shall give each Holder prompt notice of such cancellation in accordance
with Section 11.1(b) hereof. 
 The Company shall cause (x) any notice covered by clause (ii) above of
any Action constituting a Sale Transaction in which all or any portion of the property receivable upon conversion, change or exchange of shares of Common Stock in such Sale Transaction comprises
(A) non-cash property other than securities or (B) non-cash property (other than securities listed or admitted for trading on any U.S. national securities
exchange) or (y) any notice covered by clause (iv) above of any Action constituting setting a record date for a Property Dividend in which all or a portion of the property distributed to holders of shares of Common Stock in such Property
Dividend comprises non-cash property (other than securities listed or admitted for trading on any U.S. national securities exchange), in case of (x) or (y), to set forth the Fair Market Values of such non-cash property. 
 In addition, in the event the Company enters into any definitive agreement with
respect to any Sale Transaction, unless the Company has made a filing with the Commission, including pursuant to a Current Report on Form 8-K, which filing discloses such agreement, the Company shall cause to
be filed with the Warrant Agent and shall give to each Holder of a Warrant Certificate, in accordance with Section 11.1(b), a notice of the entering into such definitive agreement. 

 

	12.	Inspection. 

 The Warrant Agent shall cause a copy of this Agreement to be available at
all reasonable times at the office of the Warrant Agent for inspection by the Holder of any Warrant Certificate. The Warrant Agent may require such Holder to submit his Warrant Certificate for inspection by it. 

  
 37 

	13.	Amendments. 

 (a) Subject to Section 13(c), the Company and the
Warrant Agent may, without the consent or concurrence of the Holders of the Warrant Certificates, by supplemental agreement or otherwise, amend this Agreement for the purpose of making any changes or corrections in this Agreement that (i) are
required to cure any ambiguity or to correct or supplement any defective or inconsistent provision or clerical omission or mistake or manifest error herein contained or (ii) add to the covenants and agreements of the Company in this Agreement
further covenants and agreements of the Company thereafter to be observed, or surrender any rights or powers reserved to or conferred upon the Company in this Agreement; provided, however, that in either case such amendment shall not adversely
affect the rights or interests of the Holders of the Warrant Certificates hereunder in any material respect. 
 (b) Subject to
Section 13(c), this Agreement may otherwise be amended by the Company and the Warrant Agent only with the consent of the Required Warrant Holders; 

(c) The consent of each Holder of any Warrant Certificate evidencing any Warrants affected thereby shall be required for any supplement or
amendment to this Agreement or the Warrants that would: (i) increase the Exercise Price or decrease the number of shares of Common Stock receivable upon exercise of Warrants, in each case other than as provided in
Section 5.1; (ii) the Expiration Date is changed to an earlier date other than as the result of a Sale Cash Only Transaction; or (iii) modify the provisions contained in Section 5.1 or
5.3 (or any of the definitions of terms used in Section 5.1 or 5.3) in a manner adverse to the Holders of Warrant Certificates generally with respect to their Warrants. 

(d) The Warrant Agent shall join with the Company in the execution and delivery of any such amendment unless such amendment affects the
Warrant Agent’s own rights, duties or immunities hereunder, in which case the Warrant Agent may, but shall not be required to, join in such execution and delivery; provided that as a condition precedent to the Warrant Agent’s execution of
any amendment to this Agreement, the Company shall deliver to the Warrant Agent a certificate from an Appropriate Officer that states that the proposed amendment is in compliance with the terms of this Section 13. Upon
execution and delivery of any amendment pursuant to this Section 13, such amendment shall be considered a part of this Agreement for all purposes and every Holder of a Warrant Certificate theretofore or thereafter
countersigned and delivered hereunder shall be bound thereby. 
 (e) Promptly after the execution by the Company and the Warrant Agent of
any such amendment, the Company shall give notice to the Holders of Warrant Certificates, setting forth in general terms the substance of such amendment, in accordance with the provisions of Section 11.1(b). Any failure of
the Company to mail such notice or any defect therein, shall not, however, in any way impair or affect the validity of any such amendment. 

  
 38 

	14.	Waivers. 

 The Company may take any action herein prohibited, or omit to perform any act
herein required to be performed by it, only if (i) the Company has obtained the written consent of Required Warrant Holders, and (ii) any consent required pursuant to Section 13 has been obtained. 

 

	15.	Successor to Company. 

 So long as Warrants remain outstanding, the Company will not
enter into any Non-Surviving Transaction unless the acquirer (a “Successor Company”) shall expressly assume by a supplemental agreement, executed and delivered to the Warrant Agent, in
form reasonably satisfactory to the Warrant Agent, the due and punctual performance of every covenant of this Agreement on the part of the Company to be performed and observed and shall have provided for exercise rights in accordance with
Section 5.1(g)(i). Upon the consummation of such Non-Surviving Transaction, the acquirer shall succeed to, and be substituted for, and may exercise every right and power of, the
Company under this Agreement with the same effect as if such acquirer had been named as the Company herein. 
  

	16.	Headings. 

 The section headings contained in this Agreement are inserted for convenience
only and will not affect in any way the meaning or interpretation of this Agreement. 
  

	17.	Counterparts. 

 This Agreement may be executed in two or more counterparts, each of which
will be deemed to be an original, but all of which together constitute one and the same instrument. 
  

	18.	Severability. 

 The provisions of this Agreement will be deemed severable and the
invalidity or unenforceability of any provision hereof will not affect the validity or enforceability of the other provisions hereof; provided that if any provision of this Agreement, as applied to any party or to any circumstance, is adjudged by a
court or governmental body not to be enforceable in accordance with its terms, the parties agree that the court or governmental body making such determination will have the power to modify the provision in a manner consistent with its objectives
such that it is enforceable, and/or to delete specific words or phrases, and in its reduced form, such provision will then be enforceable and will be enforced. 
  

	19.	Information Rights 

 The Company shall (a) furnish to the Holders any reports or
other information delivered to the holders of Common Stock solely in their capacity as stockholders by the Company or its Subsidiaries at the same time such reports or other information are delivered or made available to such holders of Common Stock
solely in their capacity as stockholders, and (b) provide Holders access to conference calls, webcasts or similar electronic communications to which holders of Common Stock are provided access by the Company or its Subsidiaries solely in their
capacity as stockholders, if any, at the same time such conference calls, webcasts or similar communications are made accessible to such holders of Common Stock solely in their capacity as stockholders. 

  
 39 

	20.	No Redemption 

 The Warrants shall not be subject to redemption by the Company or any
other Person; provided that the Warrants may be acquired by means other than a redemption, whether by tender offer, open market purchases, negotiated transactions or otherwise, in accordance with applicable securities laws, so long as such
acquisition does not otherwise violate the terms of this Agreement. 
  

	21.	Persons Benefiting. 

 This Agreement shall be binding upon and inure to the benefit of
the Company, the Warrant Agent and the Holders from time to time. Nothing in this Agreement, express or implied, is intended to confer upon any person other than the Company, the Warrant Agent and the Holders any rights or remedies under or by
reason of this Agreement or any part hereof, and all covenants, conditions, stipulations, promises and agreements contained in this Warrant Agreement shall be for the sole and exclusive benefit of the parties hereto and of the Holders. Each Holder,
by acceptance of a Warrant Certificate, agrees to all of the terms and provisions of this Agreement applicable thereto. 
  

	22.	Applicable Law. 

 THIS AGREEMENT, EACH WARRANT CERTIFICATE ISSUED HEREUNDER, EACH WARRANT
EVIDENCED THEREBY AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HERETO AND THERETO, INCLUDING THE INTERPRETATION, CONSTRUCTION, VALIDITY AND ENFORCEABILITY THEREOF, SHALL BE GOVERNED BY, AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE
STATE OF NEW YORK. 
  

	23.	Entire Agreement. 

 This Agreement sets forth the entire agreement of the parties hereto
as to the subject matter hereof and supersedes all previous agreements among all or some of the parties hereto with respect thereto, whether written, oral or otherwise. 

[Remainder of Page Intentionally Left Blank] 

  
  40 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed and
delivered as of the day and year first above written. 
  
  
			
	AVAYA HOLDINGS CORP., a Delaware corporation
		
	By:	 	/s/ Patrick J. O’Malley, III
		 	Name: Patrick J. O’Malley, III
		 	Title: SVP, Chief Financial Officer

   
  
			
	AMERICAN STOCK TRANSFER & TRUST COMPANY, LLC, as Warrant Agent
		
	By:	 	/s/ Michael A. Nespoli
		 	Name: Michael A. Nespoli
		 	Title: Executive Director

 EXHIBIT A 

[Face of Warrant Certificate]1 

AVAYA HOLDINGS CORP. 

WARRANT CERTIFICATE 

EVIDENCING 
 WARRANTS TO
PURCHASE COMMON STOCK 
 [UNLESS THIS GLOBAL WARRANT CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW
YORK CORPORATION (“DTC”), TO AVAYA HOLDINGS CORP. (THE “COMPANY”), THE CUSTODIAN 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. 

TRANSFER OF THIS GLOBAL WARRANT CERTIFICATE SHALL BE LIMITED TO TRANSFERS IN WHOLE, AND NOT IN PART, TO THE COMPANY, DTC, THEIR SUCCESSORS AND THEIR
RESPECTIVE NOMINEES.]2 
  

	1 	To be removed in the versions of the Warrant Certificates printed in multiple copies for use by the Warrant Agent in preparing Warrants Certificates for issuance and delivery from time to time to holders.

	2 	Include only on Global Warrant Certificate. 

  
  A-1 

			
	 No. [    ]
 CUSIP No.
05351X 119
	  	[    ,    ,    ]Warrants

  THIS CERTIFIES THAT, for value received,
[                                         
       ], or registered assigns, is the registered owner of the number of Warrants to Purchase Common Stock of Avaya Holdings Corp., a Delaware corporation (the “Company”, which term
includes any successor thereto under the Warrant Agreement) specified above [or such lesser number as may from time to time be endorsed on the “Schedule of Decreases” attached hereto]3,
and is entitled, subject to and upon compliance with the provisions hereof and of the Warrant Agreement, at such Holder’s option, at any time when the Warrants evidenced hereby are exercisable, to purchase from the Company one share of Common
Stock of the Company for each Warrant evidenced hereby, at the purchase price of $25.55 per share (as adjusted from time to time, the “Exercise Price”), payable in full at the time of purchase, the number of shares of Common
Stock into which and the Exercise Price at which each Warrant shall be exercisable each being subject to adjustment as provided in Section 5 of the Warrant Agreement. 

All shares of Common Stock issuable by the Company upon the exercise of Warrants shall, upon such issuance, be duly and validly issued and
fully paid and nonassessable. The Company shall pay any and all taxes (other than income taxes) that may be payable in respect of the issue or delivery of shares of Common Stock on exercise of Warrants. The Company shall not be required, however, to
pay any tax or other charge imposed in respect of any transfer involved in the issue and delivery of shares of Common Stock in book-entry form or any certificates for shares of Common Stock or payment of cash to any Person other than the Holder of
the Warrant Certificate evidencing the exercised Warrant, and in case of such transfer or payment, the Warrant Agent and the Company shall not be required to issue or deliver any shares of Common Stock in book-entry form or any certificate or pay
any cash until (a) such tax or charge has been paid or an amount sufficient for the payment thereof has been delivered to the Warrant Agent or to the Company or (b) it has been established to the Company’s satisfaction that any such
tax or other charge that is or may become due has been paid. 
 Each Warrant evidenced hereby may be exercised by the Holder hereof at the
Exercise Price then in effect on any Business Day from and after the Original Issue Date until 5:00 p.m., New York time, on the Expiration Date in the Warrant Agreement. 

Subject to the provisions hereof and of the Warrant Agreement, the Holder of this Warrant Certificate may exercise all or any whole number of
the Warrants evidenced hereby by, in the case of a Global Warrant Certificate, providing notice of the number of Warrants being exercised and, if applicable, whether Cashless Exercise is being elected with respect thereto, and delivering such
Warrants by book-entry transfer through the facilities of the Depositary, to the Warrant Agent in accordance with the Applicable Procedures and otherwise complying with Applicable Procedures in respect of the exercise of such Warrants or, in the
case of a Definitive Warrant Certificate, surrendering this Warrant Certificate to the Warrant Agent at its office maintained for such purpose (the “Corporate Agency Office”) with the form of exercise on the reverse hereof
duly executed, together with payment in full of the Exercise Price as then in effect for each share of Common Stock receivable upon exercise of each Warrant being submitted for exercise or, if applicable, whether Cashless Exercise is being elected
with respect thereto. Any such payment of the Exercise Price is to be by wire transfer in immediately available funds to such account of the Company at such banking institution as the Company shall have designated from time to time for such purpose.

  

	3 	 Include only on Global Warrant Certificate. 

  
 A-2 

 Reference is hereby made to the further provisions of this Warrant Certificate set forth on the
reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. 
 Unless this Warrant
Certificate has been countersigned by the Warrant Agent by manual signature of an authorized officer on behalf of the Warrant Agent, this Warrant Certificate shall not be valid for any purpose and no Warrant evidenced hereby shall be exercisable.

 IN WITNESS WHEREOF, the Company has caused this certificate to be duly executed under its corporate seal. 

Dated: [________ __], 20[__] 
  

									
		 		 	AVAYA HOLDINGS CORP.
				
	[SEAL]	 		 	By:	 	   

		 		 		 	Vice President and Treasurer
	ATTEST:	 		 		 	
				
	Countersigned:	 		 		 	
			
	 AMERICAN STOCK TRANSFER & TRUST COMPANY, LLC, as Warrant Agent
	 		 	AMERICAN STOCK TRANSFER & TRUST COMPANY, LLC, as Warrant Agent
		 	OR	 		 	
					
	By:	 	 	 		 	By:	 	 
		 	Authorized Agent	 		 		 	as Countersigning Agent
					
		 		 		 	By:	 	 
		 		 		 		 	Authorized Officer
		 		 		 		 	

  
 A-3 

 [Reverse of Warrant Certificate]4 

AVAYA HOLDINGS CORP. 

WARRANT CERTIFICATE 

EVIDENCING 
 WARRANTS TO
PURCHASE COMMON STOCK 
 The Warrants evidenced hereby are one of a duly authorized issue of Warrants of the Company designated as its
Warrants to Purchase Common Stock (“Warrants”), limited in aggregate number to 5,645,200 issued under and in accordance with the Warrant Agreement, dated as of December 15, 2017 (the “Warrant
Agreement”), between the Company and American Stock Transfer & Trust Company, LLC, as warrant agent (the “Warrant Agent”, which term includes any successor thereto permitted under the Warrant Agreement),
to which the Warrant Agreement and all amendments thereto reference is hereby made for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Company, the Warrant Agent, the Holders of Warrant
Certificates and the owners of the Warrants evidenced thereby and of the terms upon which the Warrant Certificates are, and are to be, countersigned and delivered. A copy of the Warrant Agreement shall be available at all reasonable times at the
office of the Warrant Agent for inspection by the Holder hereof. 
 The Warrant Agreement provides that, in addition to certain adjustments
to the number of shares of Common Stock into which a Warrant is exercisable and the Exercise Price required to be made in certain circumstances, (x) in the case of any Transaction (other than a Sale Cash Only Transaction), the Company shall
(or, in the case of any Non-Surviving Transaction, the Company shall cause the other Person involved in such Transaction to) execute and deliver to the Warrant Agent a written instrument providing that
(i) the Warrants evidenced hereby, if then outstanding, will be exercisable thereafter, during the period the Warrants evidenced hereby shall be exercisable as specified herein, only into the Substituted Securities that would have been
receivable upon such Transaction by a holder of the number of shares of Common Stock that would have been issued upon exercise of such Warrant if such Warrant had been exercised in full immediately prior to such Sale Transaction (upon certain
assumptions specified in the Warrant Agreement); and (ii) the rights and obligations of the Company (or, in the case of any Non-Surviving Transaction, the other Person involved in such Transaction) and
the holders in respect of Substituted Securities shall be substantially unchanged to be as nearly equivalent as may be practicable to the rights and obligations of the Company and Holders in respect of Common Stock and (y) in the case of any
Sale Transaction (other than a Sale Securities Only Transaction), (a) if such Sale Transaction is a Sale Cash Only Transaction, the Warrants shall expire, (b) the Company shall deliver specified amounts of cash or, if applicable, non-cash property with respect to any non-securities property received by holders of Common Stock upon such Sale Transaction and (c) if such Sale Transaction is not a
Sale Cash Only Transaction, the Exercise Price will be reduced, in each case as more fully specified in the Warrant Agreement. 
  

	4 	To be removed in the versions of the Warrant Certificates printed in multiple copies for use by the Warrant Agent in preparing Warrants Certificates for issuance and delivery from time to time to holders.

  
 A-4 

 Except as provided in the Warrant Agreement, all outstanding Warrants shall expire and all rights
of the Holders of Warrant Certificates evidencing such Warrants shall terminate and cease to exist, as of 5:00 p.m., New York time, on the Expiration Date. “Expiration Date” shall mean December 15, 2022 (the fifth
anniversary of the Original Issue Date) or such earlier date as shall apply in the event of a Sale Cash Only Transaction pursuant to the Warrant Agreement upon satisfaction of certain conditions set forth in the Warrant Agreement. 

In the event of the exercise of less than all of the Warrants evidenced hereby, a new Warrant Certificate of the same tenor and for the number
of Warrants which are not exercised shall be issued by the Company in the name or upon the written order of the Holder of this Warrant Certificate upon the cancellation hereof. 

The Warrant Certificates are issuable only in registered form in denominations of whole numbers of Warrants. Upon surrender at the office of
the Warrant Agent and payment of the charges specified herein and in the Warrant Agreement, this Warrant Certificate may be exchanged for Warrant Certificates in other authorized denominations or the transfer hereof may be registered in whole or in
part in authorized denominations to one or more designated transferees; provided, however, that such other Warrant Certificates issued upon exchange or registration of transfer shall evidence the same aggregate number of Warrants as
this Warrant Certificate. The Company shall cause to be kept at the office of the Warrant Agent the Warrant Register in which, subject to such reasonable regulations as the Warrant Agent may prescribe and such regulations as may be prescribed by
law, the Company shall provide for the registration of Warrant Certificates and of transfers or exchanges of Warrant Certificates. No service charge shall be made for any registration of transfer or exchange of Warrant Certificates; provided,
however, the Company may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any registration of transfer or exchange of Warrant Certificates. 

Prior to due presentment of this Warrant Certificate for registration of transfer, the Company, the Warrant Agent and any agent of the Company
or the Warrant Agent may treat the Person in whose name this Warrant Certificate is registered as the owner hereof for all purposes, and neither the Company, the Warrant Agent nor any such agent shall be affected by notice to the contrary. 

The Warrant Agreement permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and
obligations of the Company and the rights of the Holders of Warrant Certificates under the Warrant Agreement at any time by the Company and the Warrant Agent with the consent of the Required Warrant Holders. 

Until the exercise of any Warrant, subject to the provisions of the Warrant Agreement and except as may be specifically provided for in the
Warrant Agreement, (i) no Holder of a Warrant Certificate evidencing any Warrant shall have or exercise any rights by virtue hereof as a holder of Common Stock of the Company, including, without limitation, the right to vote, to receive
dividends and other distributions or to receive notice of, or attend meetings of, stockholders or any other proceedings of the Company; (ii) the consent of any such Holder shall not be required with respect to any action or proceeding of the
Company; (iii) except with respect to any Received Dividend or as provided with respect to the dissolution, liquidation or 

  
 A-5 

 
winding up of the Company, no such Holder, by reason of the ownership or possession of a Warrant or the Warrant Certificate representing the same, shall have any right to receive any cash
dividends, stock dividends, allotments or rights or other distributions (except as specifically provided in the Warrant Agreement), paid, allotted or distributed or distributable to the stockholders of the Company prior to or for which the relevant
record date preceded the date of the exercise of such Warrant; and (iv) no such Holder shall have any right not expressly conferred by the Warrant or Warrant Certificate held by such Holder. 

This Warrant Certificate, each Warrant evidenced thereby and the Warrant Agreement shall be governed by and construed in accordance with the
laws of the State of New York. 
 All terms used in this Warrant Certificate which are defined in the Warrant Agreement shall have the
meanings assigned to them in the Warrant Agreement. 
 Form of Exercise 

In accordance with and subject to the terms and conditions hereof and of the Warrant Agreement, the undersigned registered Holder of this
Warrant Certificate hereby irrevocably elects to exercise _______________ Warrants evidenced by this Warrant Certificate and represents that for each of the Warrants evidenced hereby being exercised such Holder either has (please check one box
only): 
  

	 	☐	tendered the Exercise Price in the aggregate amount of $_________ by wire transfer in immediately available funds to such account of the Company at such banking institution as the Company shall have designated from time
to time for such purpose; or 

  

	 	☐	elected a “Cashless Exercise”. 

 The undersigned requests that the shares of Common
Stock issuable upon exercise be in fully registered form in such denominations and registered in such names and delivered, together with any other property receivable upon exercise, in such manner as is specified in the instructions set forth below.

 If the number of Warrants exercised is less than all of the Warrants evidenced hereby, the undersigned requests that a new Warrant
Certificate representing the remaining Warrants evidenced hereby be issued and delivered to the undersigned unless otherwise specified in the instructions below. 

  
 A-6 

							
		 		 	
				
	Dated:
                                         
                           	 		 	Name:	 	 
	 	 		 		 	(Please Print)
	(Insert Social Security or Other
Identifying Number of Holder)	 		 	Address:	 	 
		 		 	 
		 		 	 
		 		 		 	Signature
		 		 		 	(Signature must conform in all respects to name of Holder as specified on the face of this Warrant Certificate and must bear a signature guarantee by a bank, trust company or member firm of a U.S. national securities
exchange.)

 Signature Guaranteed: 

Instructions (i) as to denominations and names of Common Stock issuable upon exercise and as to delivery of such securities and any other
property issuable upon exercise and (ii) if applicable, as to Warrant Certificates evidencing unexercised Warrants: 
 Assignment

 (Form of Assignment To Be Executed If Holder Desires To Transfer Warrant Certificate) 

FOR VALUE RECEIVED
                                         
                                hereby sells, assigns and transfers unto 

Please insert social security or 

other identifying number 
 (Please print name and
address including zip code) 
 the Warrants represented by the within Warrant Certificate and does hereby irrevocably constitute and appoint
                                     Attorney, to transfer
said Warrant Certificate on the books of the within-named Company with full power of substitution in the premises. 
  

							
	Dated:
                                         
                           	 		 	Signature 	 	 
			
		 		 	(Signature must conform in all respects to name of Holder as specified on the face of this Warrant Certificate and must bear a signature guarantee by a bank, trust company or member firm of a U.S. national securities
exchange.)

  
 A-7 

 [SCHEDULE A 

SCHEDULE OF DECREASES IN WARRANTS 
 The
following decreases in the number of Warrants evidenced by this Global Warrant Certificate have been made: 
  

							
	 Date
	  	 Amount of decrease in
number of
Warrants
evidenced by this Global
        Warrant Certificate        
	  	 Number of Warrants
evidenced by this
Global
Warrant following
such decrease
	  	
    Signature of authorized    

signatory]5

		  		  		  	

  

	5 	Include only on Global Warrant Certificate. 

  
 A-8

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