Document:

EX-10.9

   

  Exhibit 10.9

  REGISTRATION RIGHTS AGREEMENT

  by and among

  Definitive Healthcare Corp.

  and

  the other parties hereto

  September 14, 2021

   

   

  

   

  TABLE OF CONTENTS

   

  				
	Section 1.
	Certain Definitions
	3

	Section 2.
	Registration Rights
	7

	 
	 2.1.
	Demand Registrations
	7

	 
	 2.2.
	Piggyback Registrations
	11

	 
	 2.3.
	Holdback Agreements
	13

	 
	 2.4.
	Registration Procedures
	13

	 
	 2.5.
	Registration Expenses
	18

	 
	 2.6.
	No Required Sale
	19

	 
	 2.7.
	Indemnification
	19

	 
	 2.8.
	Participation in Underwritten Registrations
	22

	 
	 2.9.
	No Inconsistent Agreements
	22

	 
	 2.10.
	Adjustments Affecting Registrable Securities
	22

	Section 3.
	General
	22

	 
	 3.1.
	Rule 144 and Rule 144A
	22

	 
	 3.2.
	Nominees for Beneficial Owners
	23

	 
	 3.3.
	Amendments and Waivers
	23

	 
	 3.4.
	Notices
	23

	 
	 3.5.
	Successors and Assigns
	24

	 
	 3.6.
	Entire Agreement
	24

	 
	 3.7.
	Governing Law; Submission to Jurisdiction; Waiver of Jury Trial
	24

	 
	 3.8.
	Interpretation; Construction
	25

	 
	 3.9.
	Counterparts
	26

	 
	 3.10.
	Severability
	26

	 
	 3.11.
	Remedies
	26

	 
	 3.12.
	Further Assurances
	26

	 
	 3.13.
	Confidentiality
	26

	 
	 3.14.
	Termination and Effect of Termination
	27

  Schedule I – Key Holders

  Schedule II – Advent Persons

  Exhibit A – Joinder

   

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  This REGISTRATION RIGHTS AGREEMENT (this “Agreement”), is made as of September 14, 2021, by and among (i) Definitive Healthcare Corp., a Delaware corporation (the “Company”) and (ii) each of the Persons listed on the signature pages hereto.

  W I T N E S S E T H:

  WHEREAS, the Board of Directors of the Company (the “Board”) has determined to effect an underwritten initial public offering (the “IPO”) of Pubco’s Class A Common Stock (as defined below); and

  WHEREAS, in connection with the IPO, the parties desire to set forth certain registration rights applicable to the Registrable Securities.

  NOW, THEREFORE, in consideration of the premises and of the mutual covenants and obligations hereinafter set forth, and for other good and valuable consideration the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:

  Section 1. Certain Definitions. As used herein, the following terms shall have the following meanings:

  “22C” means collectively, 22C Capital GP I, L.L.C. 22C Capital I, L.P., 22C AIDH AIV LLC collectively, and any of their permitted transferees and any of their Permitted Transferees.

  “Advent” means collectively, the Persons set forth on Schedule II and any of their Permitted Transferees.

  “Affiliate” means with respect to any Person, any other Person directly or indirectly controlling or controlled by or under direct or indirect common control with such specified Person, where “control” means the possession, directly or indirectly, of the power to direct the management and policies of a Person whether through the ownership of voting securities, contract or otherwise. For the avoidance of doubt, neither the Company nor any Person controlled by the Company shall be deemed to be an Affiliate of any Holder.

  “Agreement” means this Registration Rights Agreement, as this agreement may be amended, modified, supplemented or restated from time to time after the date hereof.

  “Beneficial Ownership” shall mean, with respect to a specified Person, the ownership of securities as determined in accordance with Rule 13d-3 of the Exchange Act, as such Rule is in effect from time to time. The terms “Beneficially Own” and “Beneficial Owner” shall have a correlative meaning.

  “Board” means the board of directors of Definitive Healthcare Corp.

  “Business Day” shall mean a day other than a Saturday, Sunday, or federal holiday or other day on which commercial banks in the City of New York are authorized or required by law or other governmental action to close.

  “Claims” has the meaning ascribed to such term in Section 2.7(a).

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  “Class A Common Stock” shall mean the shares of Class A Common Stock, $0.001 par value per share, of the Company, and any and all securities of any kind whatsoever which may be issued after the date hereof in respect of, or in exchange for, such shares of common stock of the Company pursuant to a merger, consolidation, stock split, stock dividend or recapitalization of the Company or otherwise.

  “Common Stock Equivalents” means all options, warrants, LLC Units and other securities convertible into, or exchangeable or exercisable for (at any time or upon the occurrence of any event or contingency and without regard to any vesting or other conditions to which such securities may be subject) shares of capital stock or other equity securities of such Person (including, without limitation, any note or debt security convertible into or exchangeable for shares of capital stock or other equity securities of such Person).

  “Demand Exercise Notice” has the meaning ascribed to such term in Section 2.1(a).

  “Demand Registration” has the meaning ascribed to such term in Section 2.1(a).

  “Demand Registration Request” has the meaning ascribed to such term in Section 2.1(a).

  “Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations of the SEC issued under such Act, as they may from time to time be in effect.

  “Expenses” means any and all fees and expenses incident to the Company’s performance of or compliance with Article 2, including, without limitation: (i) SEC, stock exchange or FINRA, and all other registration and filing fees and all listing fees and fees with respect to the inclusion of securities on the Nasdaq Global Select Market or on any other securities market on which the Class A Common Stock is listed or quoted, (ii) fees and expenses of compliance with state securities or “blue sky” laws of any state or jurisdiction of the United States or compliance with the securities laws of foreign jurisdictions and in connection with the preparation of a “blue sky” survey, including, without limitation, reasonable fees and expenses of outside “blue sky” counsel and securities counsel in foreign jurisdictions, (iii) word processing, printing and copying expenses, (iv) messenger and delivery expenses, (v) expenses incurred in connection with any road show, (vi) fees and disbursements of counsel for the Company, (vii) with respect to each registration or underwritten offering, the reasonable fees and disbursements of counsel for the Participating Holder(s); provided, that, such fees of each of Advent, Spectrum and 22C and each other Participating Holder shall not exceed $75,000 per registration or underwritten offering, (viii) fees and disbursements of all independent public accountants (including the expenses of any audit and/or comfort letter and updates thereof) and fees and expenses of other Persons, including special experts, retained by the Company, (ix) fees and expenses payable to any Qualified Independent Underwriter, (x) any other fees and disbursements of underwriters, if any, customarily paid by issuers or sellers of securities, including reasonable fees and expenses of counsel for the underwriters in connection with any filing with or review by FINRA (excluding, for the avoidance of doubt, any underwriting discount, commissions, or spread), (xi) fees and expenses of any transfer agent or custodian and (xii) expenses for securities law liability insurance and any rating agency fees.

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  “Family Member” means, with respect to any Person who is an individual, any spouse, parent, siblings or lineal descendants of such Person (including adoptive relationships) and any trust or other estate planning vehicle over which such Person has “control” (as defined in the definition of “Affiliate”) established for the benefit of such Person and/or such Person’s spouse and/or such Person’s descendants (by birth or adoption), parents, siblings or dependents.

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

  “Holder(s)” means (1) any Person who is a signatory to this Agreement (other than the Company), or (2) any Permitted Transferee to whom any such Person who is a signatory to this Agreement shall assign or transfer any rights hereunder; provided that in the case of clause (2), such Person or such transferee, as applicable, has executed and delivered to the Company a joinder agreement in the form of Exhibit A hereto, and has thereby agreed in writing to be bound by this Agreement in respect of such Registrable Securities.

  “Incidental Registration Notice” has the meaning ascribed to such term in Section 2.2(a).

  “Initiating Holder(s)” has the meaning ascribed to such term in Section 2.1(a).

  “IPO” has the meaning ascribed to such term in the Preamble.

  “Key Holders” means the parties set forth on Schedule I hereto and any of their respective Permitted Transferees.

  “Krantz Holder” means collectively, Jason R. Krantz and any of his Permitted Transferees.

  “Law” means any law (including common law), statute, code, ordinance rule or regulation of any governmental entity.

  “Litigation” means any action, proceeding or investigation in any court or before any governmental authority.

  “LLC Agreement” means the Second Amended and Restated Limited Liability Company Agreement of AIDH TopCo, LLC, a Delaware limited liability company.

  “LLC Unit” means a limited liability interest in AIDH TopCo, LLC or any other class of limited liability interests in the LLC.

  “Lock-Up Agreement” means any agreement entered into by a Holder that provides for restrictions on the transfer of Registrable Securities held by such Holder.

  “Long Form Registrations” has the meaning ascribed to such term in Section 2.1(a).

  “Majority Participating Holders” means Participating Holders holding more than 50% of the Registrable Securities proposed to be included in any offering of Registrable Securities by such Participating Holders pursuant to Section 2.1 or Section 2.2.

  “Opt-Out Request” has the meaning ascribed to such term in Section 3.13(c).

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  “Participating Holders” means all Holders of Registrable Securities which are proposed to be included in any offering of Registrable Securities pursuant to Section 2.1 or Section 2.2.

  “Permitted Transferee” (a) in the case of a Holder who is an individual, (i) any executor, administrator or testamentary trustee of such Holder’s estate if such Holder dies, (ii) any Person receiving Registerable Securities of such Holder by will, intestacy laws or the laws of descent or survivorship, (iii) any trustee of a trust (including an inter vivos trust) of which there are no principal beneficiaries other than such Holder or one or more Family Members of such Holder over which such Holder has “control” (as defined in the definition of “Affiliate”), or (iv) any private foundation or similar charitable organization over which such Holder has “control” (as defined in the definition of “Affiliate”) and (b) in the case of a Holder that is not an individual, its Affiliates, its limited partners, and its limited liability company members.

  “Person” means any individual, corporation (including not for profit), general or limited partnership, limited liability company, joint venture, estate, trust, association, joint-stock company, unincorporated organization, governmental entity or agency or other entity of any kind or nature.

  “Piggyback Registration” has the meaning ascribed to such term in Section 2.2(a).

  “Policies” has the meaning ascribed to such term in Section 3.13(b).

  “Qualified Independent Underwriter” means a “qualified independent underwriter” within the meaning of FINRA Rule 5121.

  “Registrable Securities” means (a) any shares of Class A Common Stock held by the Holders at any time (including those held as a result of, or issuable upon, the Exchange, conversion or exercise of Common Stock Equivalents), whether now owned or acquired by the Holders at a later time, (b) any shares of Class A Common Stock issued or issuable, directly or indirectly, in exchange for or with respect to the Class A Common Stock referenced in clause (a) above by way of stock dividend, stock split or combination of shares in connection with a reclassification, recapitalization, merger, share exchange, consolidation or other reorganization and (c) any securities issued in replacement of or exchange for any securities described in clause (a) or (b) above. As to any particular Registrable Securities, such securities shall cease to be Registrable Securities when (A) a registration statement with respect to the sale of such securities shall have been declared effective under the Securities Act and such securities shall have been disposed of in accordance with such registration statement, (B) such securities are able to be immediately sold pursuant to Rule 144 without restrictions as to volume limitations and (C) such securities are otherwise transferred or sold, the Company has delivered a new certificate or other evidence of ownership for such securities not bearing a legend and such securities may be resold without subsequent registration under the Securities Act.

  “Rule 144” and “Rule 144A” have the meaning ascribed to such term in Section 3.1.

  “SEC” means the Securities and Exchange Commission or such other federal agency which at such time administers the Securities Act.

  “Section 3.13 Representatives” has the meaning ascribed to such term in Section 3.13(b).

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  “Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations of the SEC issued under such Act, as they may from time to time be in effect.

  “Shelf Offering” has the meaning ascribed to such term in Section 2.1(c)(ii).

  “Shelf Registration Statement” means a shelf registration statement filed under Rule 415 of the Securities Act.

  “Short Form Registrations” has the meaning ascribed to such term in Section 2.1(a).

  “Spectrum” means collectively, SE VII DHC AIV Feeder, L.P., SE VII DHC AIV, L.P., Spectrum VII Investment Managers’ Fund, L.P., and Spectrum VII Co-Investment Fund, L.P. and any of their Permitted Transferees.

  “Subsidiary” means any direct or indirect subsidiary of the Company on the date hereof and any direct or indirect subsidiary of the Company organized or acquired after the date hereof.

  “Take-Down Notice” has the meaning ascribed to such term in Section 2.1(c)(ii).

  “Underwritten Block Trade” means an offering and/or sale of Registrable Securities by one or more of Advent, Spectrum, the Krantz Holder or 22C on an underwritten block trade basis (whether firm commitment or otherwise) without substantial marketing efforts prior to pricing, including, without limitation, a same day trade, overnight trade or similar transaction.

  Section 2. Registration Rights.

  2.1. Demand Registrations.

  (a) Demand Registrations Generally. This Section 2.1 sets forth the terms pursuant to which Advent, Spectrum and the Krantz Holder may request registration under the Securities Act of all or any portion of the Registrable Securities held by such Holders on Form S-1 or similar long form registration (“Long Form Registration”) and the Key Holders may request registration under the Securities Act of all or any portion of the Registrable Securities held by such Key Holders on Form S-3 or any similar short form registration (“Short Form Registration”), if available. All registrations requested pursuant to this Section 2.1 are referred to herein as “Demand Registrations.” If the Company shall receive from a written request that the Company file a Long Form Registration or with respect to all or a portion of the Registrable Securities (a “Demand Registration Request,”) and the sender(s) of such request pursuant to this Agreement shall be known as the “Initiating Holder(s)”), then the Company shall, within ten (10) Business Days of the receipt thereof, give written notice (the “Demand Exercise Notice”) of such request to all other Holders, and, subject to the limitations of this Section 2.1, use its reasonable best efforts to effect, as soon as practicable, the registration under the Securities Act (including, without limitation, by means of a Shelf Registration Statement thereunder if so requested and if the Company is then eligible to use such a registration) of all Registrable Securities that the Holders request to be registered. Each request for a Demand Registration shall specify the approximate number of Registrable Securities requested to be registered.

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  (b) Long Form Registrations. At any time that the Company is not legally eligible to file a registration statement with the SEC on Form S-3 or any similar short form registration statement, each of Advent, Spectrum and the Krantz Holder shall be entitled to request one (1) Long Form Registration subject to Section 2.1(e), and the Company shall effect such Long Form Registrations pursuant to Section 2.4 and the Company shall pay all Expenses in connection with such Long Form Registrations.

  (c) Short Form Registrations.

  (i) In addition to the Long Form Registrations provided pursuant to Section 2.1(b), each Key Holder shall be entitled to request an unlimited number of Short Form Registrations, the Company shall effect such Short Form Registrations pursuant to Section 2.4 and the Company shall pay all Expenses in connection with any such Short Form Registration. The Company shall use its best efforts to make Short Form Registrations on Form S-3 available for the sale of Registrable Securities and if Short Form Registrations on Form S-3 are available for the sale of Registerable Securities, Advent, Spectrum and the Krantz Holder may only request registration on Form S-3.

  (ii) At any time that any Short Form Registration is effective, if any Holder or group of Holders holding Registrable Securities delivers a notice to the Company (a “Take-Down Notice”) stating that it intends to effect an underwritten offering or distribution of all or part of its Registrable Securities included by it on any Short Form Registration (a “Shelf Offering”) and stating the number of the Registrable Securities to be included in the Shelf Offering, then the Company shall amend or supplement the Short Form Registration as may be necessary in order to enable such Registrable Securities to be distributed pursuant to the Shelf Offering (taking into account the inclusion of Registrable Securities by any other Holders thereof pursuant to this Section 2.1(c)(ii)). In connection with any Shelf Offering, the Company shall, promptly after receipt of a Take-Down Notice, deliver such notice to all other Holders of Registrable Securities included in any Short Form Registration and permit each Holder to include its Registrable Securities included on a Short Form Registration in the Shelf Offering if such Holder notifies the proposing Holders and the Company within 2 Business Days after delivery of the Take-Down Notice to such Holder, and in the event that the managing underwriter advises the Holders of such securities in writing that in its or their view the total number or dollar amount of Registrable Securities proposed to be sold in such offering is such as to adversely affect the success of such offering (including, without limitation, securities proposed to be included by other Holders of securities entitled to include securities in such offering pursuant to piggyback registration rights described in Section 2.2 hereof), the managing underwriter may limit the number of shares which would otherwise be included in such Shelf Offering in the same manner as is described in Section 2.1(g).

  (iii) Notwithstanding the foregoing, if any of Advent, Spectrum, the Krantz Holder or 22C wishes to engage in an Underwritten Block Trade off of a Shelf Registration Statement on Form S-3 (either through filing an automatic shelf registration statement or through a take-down from an already existing Shelf Registration Statement), then notwithstanding the foregoing time periods, the Initiating Holder only needs to notify the Company of the Underwritten Block Trade not less than (i) two (2) business days prior to the day such offering is first anticipated to commence, in the case of a take-down from an already existing Shelf Registration Statement on 

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  Form S-3, or (ii) twenty days (20) business days prior to the day such offering is first anticipated to commence, in the case of filing a new Shelf Registration Statement on Form S-3. Advent, Spectrum, the Krantz Holder and 22C must elect whether or not to participate in such Underwritten Block Trade on the day such offering is to commence, and the Company shall as expeditiously as possible use its reasonable best efforts (including co-operating with such Holders with respect to the provision of necessary information) to facilitate such Underwritten Block Trade (which may close as early as two (2) Business Days after the date it commences), provided, that the Holder requesting such Underwritten Block Trade shall use commercially reasonable efforts to work with the Company and the underwriters prior to making such request in order to facilitate preparation of offering documents related to the Underwritten Block Trade. For the avoidance of doubt, Holders other than Advent, Spectrum, the Krantz Holder and 22C shall not be entitled to demand, receive notice of, or to elect to participate in, a Underwritten Block Trade or any Shelf Registration Statement or prospectus to be used in connection with such Underwritten Block Trade.

  (d) Demand Registration Priority. The Company shall not include in any Demand Registration any securities which are not Registrable Securities without the prior written consent of the Majority Participating Holders included in such registration. If a Demand Registration is an underwritten offering and the managing underwriters advise the Company in writing that, in their opinion, the number of Registrable Securities and, if permitted hereunder, other securities requested to be included in such offering exceeds the number of Registrable Securities and other securities, if any, which can be sold in an orderly manner in such offering within a price range acceptable to the Majority Participating Holders to be included in such registration therein, without adversely affecting the marketability of the offering, the Company shall include in such registration prior to the inclusion of any securities which are not Registrable Securities (i) first, the number of Registrable Securities requested to be included which in the opinion of such underwriters can be sold in an orderly manner within the price range of such offering, pro rata among the respective Holders thereof on the basis of the number of Registrable Securities beneficially owned by each such Holder, and (ii) second, any other securities with respect to which the Company has granted registration rights in accordance with Section 2.1(g) hereof requested to be included in such registration, pro rata among the respective Holders thereof on the basis of the amount of such securities requested to be included therein by each such Holder. Without the consent of the Company and the Majority Participating Holders included in such registration, any Persons other than Holders of Registrable Securities who participate in Demand Registrations which are not at the Company’s expense must pay their share of the Expenses as provided in Section 2.5 hereof.

  (e) Restrictions on Demand Registrations. The Company shall not be obligated to effect any Demand Registration (i) within thirty (30) days after a Demand Registration pursuant to this Section 2.1 that has been declared or ordered effective, (ii) during the period any applicable restrictions are still in effect pursuant to any Lock-Up Agreement that has not been waived (or is not reasonably expected to be waived) by the underwriters party thereto, (iii) if the Company shall furnish to such Holders a certificate signed by the Chief Executive Officer of the Company stating that in the good faith judgment of the Board (after consultation with external legal counsel), any registration of Registrable Securities should not be made or continued (or sales under a Shelf Registration Statement should be suspended) because (i) such registration (or continued sales under a Shelf Registration Statement) would materially and adversely interfere with any existing or potential material financing, acquisition, corporate reorganization or merger or other material 

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  transaction or event involving the Company or any of its subsidiaries or (ii) the Company is in possession of material non-public information, the premature disclosure of which has been determined by the Board to not be in the Company’s best interests (in either case, a “Valid Business Reason”) then (x) the Company may postpone filing a registration statement relating to a Demand Registration Request or suspend sales under an existing Shelf Registration Statement until five Business Days after such Valid Business Reason no longer exists, but in no event for more than 60 days after the date the Board determines a Valid Business Reason exists and (y) in the case a registration statement has been filed relating to a Demand Registration Request, if the Valid Business Reason has not resulted from actions taken by the Company, the Company may cause such registration statement to be withdrawn and its effectiveness terminated or may postpone amending or supplementing such registration statement until five Business Days after such Valid Business Reason no longer exists, but in no event for more than 60 days after the date the Board determines a Valid Business Reason exists; and the Company shall give written notice to the Participating Holders of its determination to postpone or withdraw a registration statement or suspend sales under a Shelf Registration Statement and of the fact that the Valid Business Reason for such postponement, withdrawal or suspension no longer exists, in each case, promptly after the occurrence thereof; provided, however, that the Company shall not defer its obligation in this manner for more than (A) 60 days in any 90 day period or (B) for periods exceeding, in the aggregate, 90 days in any 12 month period, or (z) in the case of a Demand Registration, consisting of a Long Form Registration, within 180 days after the effective date of a previous Long Form Registration or a previous registration in which the Holders of Registrable Securities were given piggyback rights pursuant to Section 2.2 and in which at least 75% of the number of Registrable Securities requested to be included by the Holders were included in such registration. In the event the Company gives written notice of a Valid Business Reason, the Holders of Registrable Securities initially requesting such Demand Registration shall be entitled to withdraw such request and, if such request is withdrawn, such Demand Registration shall not be treated as one of the permitted Demand Registrations hereunder and the Company shall pay all Expenses in connection with such registration. Notwithstanding the foregoing, the Company may postpone a Demand Registration hereunder only twice in any twelve-month period.

  If the Company shall give any notice of postponement, withdrawal or suspension of any registration statement pursuant to clause (iv) of this Section 2.1(e), the Company shall not, during the period of postponement, withdrawal or suspension, register any Class A Common Stock, other than pursuant to a registration statement on Form S-4 or S-8 (or an equivalent registration form then in effect). Each Holder of Registrable Securities agrees that, upon receipt of any notice from the Company that the Company has determined to withdraw any registration statement pursuant to clause (iv) of this Section 2.1(e), such Holder will discontinue its disposition of Registrable Securities pursuant to such registration statement and, if so directed by the Company, will deliver to the Company (at the Company’s expense) all copies, other than permanent file copies, then in such Holder’s possession of the prospectus covering such Registrable Securities that was in effect at the time of receipt of such notice. If the Company shall have withdrawn or prematurely terminated a registration statement filed pursuant to a Demand Registration (whether pursuant to clause (iv) of this Section 2.1(e) or as a result of any stop order, injunction or other order or requirement of the SEC or any other governmental agency or court), the Company shall not be considered to have effected an effective registration for the purposes of this Agreement until the Company shall have filed a new registration statement covering the Registrable Securities covered by the withdrawn registration statement and such registration statement shall have been declared 

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  effective and shall not have been withdrawn. If the Company shall give any notice of withdrawal or postponement of a registration statement, the Company shall, not later than five Business Days after the Valid Business Reason that caused such withdrawal or postponement no longer exists (but in no event later than 60 days after the date of the postponement or withdrawal), use its reasonable best efforts to effect the registration under the Securities Act of the Registrable Securities covered by the withdrawn or postponed registration statement in accordance with Section 2.1 (unless the Initiating Holders shall have withdrawn such request, in which case the Company shall not be considered to have effected an effective registration for the purposes of this Agreement), and such registration shall not be withdrawn or postponed pursuant to clause (iv) of this Section 2.1(c).

  (f) Selection of Underwriters. The Initiating Holder(s) shall have the right to select the managing underwriters for such registration, provided that, each such managing underwriter is reasonably satisfactory to the Company, which approval shall not be unreasonably withheld or delayed.

  (g) Other Registration Rights. From and after the date of this Agreement, the Company shall not, without the prior written consent of Holders that hold or Beneficially Own more than 50% of the Registrable Securities, enter into any agreement with any holder or prospective holder of any securities of the Company giving such holder or prospective holder any registration rights the terms of which are more favorable taken as a whole than the registration rights granted to the Holders hereunder unless the Company shall also give such rights to such Holders.

  2.2. Piggyback Registrations.

  (a) Piggyback Rights. If the Company at any time proposes to file a registration statement with respect to any offering of its securities for its own account or for the account of any Person who holds its securities (other than (i) a registration on Form S-4 or S-8 or any successor form to such forms, (ii) a registration of securities solely relating to an offering and sale to employees, directors or consultants of the Company pursuant to any employee stock plan or other employee benefit plan arrangement, (iii) a registration of non-convertible debt securities or (iv) an Underwritten Block Trade) (a “Piggyback Registration”) then, as expeditiously as reasonably possible (but in no event less than ten (10) days following the date of filing such registration statement), the Company shall give written notice (the “Incidental Registration Notice”) of such proposed filing to all Holders of Registrable Securities, and such notice shall offer the Holder the opportunity to register such number of Registrable Securities as each such Holder may request in writing. Subject to Section 2.2(c) and Section 2.2(d), the Company shall include in such registration statement all such Registrable Securities which are requested to be included therein within fifteen (15) days after the Incidental Registration Notice is given to such Holders.

  (b) Priority on Primary Registrations. If a Piggyback Registration is an underwritten primary registration on behalf of the Company, and the Board and managing underwriters advise the Company in writing that in their opinion the number of securities requested to be included in such registration exceeds the number which can be sold in an orderly manner in such offering within a price range acceptable to the Company, the Company shall include, after including all of the primary securities the Company desires to include in such registration, (i) first, the number of Registrable Securities requested to be included which in the opinion of such underwriters can be 

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  sold in an orderly manner within the price range acceptable to the Holder(s), pro rata among the respective Holders thereof on the basis of the number of Registrable Securities beneficially owned by each such Holder, and (ii) second, other securities with respect to which the Company has granted registration rights in accordance with Section 2.1(g) hereof requested to be included in such registration, pro rata among the respective Holders thereof on the basis of the amount of such securities beneficially owned by each such Holder. No employee stockholder of the Company will be entitled to include Registrable Securities in an underwritten offering requested by the Initiating Holders pursuant to Section 2.1 to the extent that the managing underwriters and the Board of such underwritten offering shall determine in good faith that the participation of such employee stockholder, in whole or in part, would adversely affect the marketability of the securities being sold by the Initiating Holders in such underwritten offering.

  (c) Priority on Secondary Registrations. If a Piggyback Registration is an underwritten secondary registration on behalf of Holders of the Company’s securities, and the managing underwriters and the Board advise the Company in writing that in their opinion the number of securities requested to be included in such registration exceeds the number which can be sold in an orderly manner in such offering within a price range acceptable to the consent of the Majority Participating Holders to be included in such registration, the Company shall include in such registration (i) first, the securities requested to be included therein by the Holders requesting such registration and the Registrable Securities requested to be included in such registration, pro rata among the Holders of such securities and such Registrable Securities on the basis of the number of shares beneficially owned by each such Holder, and (ii) second, other securities with respect to which the Company has granted registration rights in accordance with Section 2.1(g) hereof requested to be included in such registration, pro rata among the respective Holders thereof on the basis of the amount of such securities requested to be included therein by each such Holder. No Holder who is an employee stockholder of the Company will be entitled to include Registrable Securities in an underwritten offering requested by the Initiating Holders pursuant to Section 2.1 to the extent that the managing underwriters and the Board of such underwritten offering shall determine in good faith that the participation of such employee stockholder, in whole or in part, would adversely affect the marketability of the securities being sold by the Initiating Holders in such underwritten offering.

  (d) Selection of Underwriters. If any Piggyback Registration is an underwritten secondary offering on behalf of the Holders of the Company’s securities, the Initiating Holder selection of investment banker(s) and manager(s) for the offering must be approved in writing by the Company.

  (e) Other Registrations. If the Company has previously filed a registration statement with respect to Registrable Securities pursuant to Section 2.1 or pursuant to this Section 2.2, and if such previous registration has not been withdrawn or abandoned or all shares offered thereunder have been sold, the Company shall not file or cause to be effected any other registration of any of its equity securities or securities convertible or exchangeable into or exercisable for its equity securities under the Securities Act (except on Form S-8 or any successor form), whether on its own behalf or at the request of any Holder or Holders of such securities, until a period of at least 180 days has elapsed from the effective date of such previous registration.

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  2.3. Holdback Agreements.

  (a) Each Holder agrees not to offer, sell, contract to sell, pledge or otherwise dispose of, directly or indirectly, any equity securities of the Company, or any securities convertible into or exchangeable or exercisable for such securities, enter into a transaction which would have the same effect or would otherwise effect a public sale or distribution (including sales pursuant to Rule 144), or enter into any swap, hedge or other arrangement that transfers, in whole or in part, any of the economic consequences of ownership of such securities, whether any such aforementioned transaction is to be settled by delivery of such securities or other securities, in cash or otherwise, or publicly disclose the intention to make any such offer, sale, pledge or disposition, or to enter into any such transaction, swap, hedge or other arrangement, in each case during the period beginning seven days before and ending up to 180 days in connection with an initial public offering and up to 90 days in connection with a subsequent underwritten public offering, as requested by Advent or the underwriters of such initial public offering or subsequent underwritten public offering, as applicable; provided, that no Participating Holders shall be required to agree to any lock-up restrictions to which Advent is not subject and shall be released from any restrictions to which Advent is not subject and shall be released from any such restrictions simultaneous with and to the same extent as any other Participating Holder. In addition, each Holder of Registrable Securities agrees to execute any further letters, agreements and/or other documents reasonably requested by the Company or its underwriters which are consistent with the terms of this Section 2.3(a). The Company may impose stop-transfer instructions with respect to securities subject to the foregoing restrictions until the end of such restricted period.

  (b) The Company (i) shall not effect any public sale or distribution of its equity securities, or any securities convertible into or exchangeable or exercisable for such equity securities, during the period beginning seven days before and ending 180 days after the effective date of any underwritten public offering of the Company’s equity securities (including Demand and Piggyback Registrations) (except as part of such underwritten registration or pursuant to registrations on Form S-4 or S-8 or any successor form), unless the underwriters managing the registered public offering otherwise agree, and (ii) shall cause each Holder of its equity securities, or any securities convertible into or exchangeable or exercisable for equity securities, purchased or otherwise acquired from the Company at any time after the date of this Agreement (other than in a registered public offering) to agree not to effect any public sale or distribution (including sales pursuant to Rule 144) of any such securities during any such period (except as part of such underwritten registration, if otherwise permitted), unless the underwriters managing the registered public offering otherwise agree and such agreement permits all Holders of Registrable Securities to sell such securities on a pro rata basis.

  2.4. Registration Procedures. If and whenever the Company is required by the provisions of this Agreement to effect or cause the registration of any Registrable Securities under the Securities Act as provided in this Agreement, the Company shall use its reasonable best efforts to effect the registration and the widely disseminated sale of such Registrable Securities in accordance with the intended method of disposition thereof, and pursuant thereto the Company shall, as expeditiously as possible:

  (a) prepare and file with the SEC and FINRA all filings required for the consummation of the offering, including preparing and filing with the SEC a registration statement on than 

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  appropriate form of the SEC for the disposition of such Registrable Securities in accordance with the intended method of disposition thereof, which registration form (i) shall be selected by the Company and (ii) shall, in the case of a shelf registration, be available for the sale of the Registrable Securities by the selling Holders thereof and such registration statement shall comply as to form in all material respects with the requirements of the applicable registration form and include all financial statements required by the SEC to be filed therewith, and the Company shall use its reasonable best efforts to cause such registration statement to become effective and remain continuously effective from the date such registration statement is declared effective until the earliest to occur (A) the first date as of which all of the Registrable Securities included in the registration statement have been sold or (B) a period of 90 days in the case of an underwritten offering effected pursuant to a registration statement other than a Shelf Registration Statement and a period of three years in the case of a Shelf Registration Statement (provided that before filing a registration statement or prospectus or any amendments or supplements thereto, the Company shall furnish to the counsel selected by the Majority Participating Holders covered by such registration statement copies of all such documents proposed to be filed, which documents shall be subject to the review and comment of such counsel);

  (b) notify each Holder of Registrable Securities of the effectiveness of each registration statement filed hereunder and prepare and file with the SEC such amendments and supplements to such registration statement and the prospectus used in connection therewith and such free writing prospectuses and Exchange Act reports as may be necessary to keep such registration statement continuously effective for the period set forth in Section 2.4(a) and to comply with the provisions of the Securities Act with respect to the sale or other disposition of all Registrable Securities covered by such registration statement in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement (and, in connection with any Shelf Registration Statement, file one or more prospectus supplements pursuant to Rule 424 under the Securities Act covering Registrable Securities upon the request of one or more Holders wishing to offer or sell Registrable Securities whether in an underwritten offering or otherwise);

  (c) furnish to each seller of Registrable Securities such number of copies of such registration statement, each amendment and supplement thereto, the prospectus included in such registration statement (including each preliminary prospectus) and such other documents as such seller may reasonably request in order to facilitate the disposition of the Registrable Securities owned by such seller;

  (d) use its reasonable best efforts to register or qualify such Registrable Securities under such other securities or blue sky laws of such jurisdictions as any seller reasonably requests and do any and all other acts and things which may be reasonably necessary or advisable to enable such seller to consummate the disposition in such jurisdictions of the Registrable Securities owned by such seller (provided that the Company shall not be required to (i) qualify generally to do business in any jurisdiction where it would not otherwise be required to qualify but for this subparagraph, (ii) subject itself to taxation in any such jurisdiction or (iii) consent to general service of process in any such jurisdiction);

  (e) promptly notify each seller of such Registrable Securities, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, of the happening of any event as a result of which the prospectus included in such registration statement contains 

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  an untrue statement of a material fact or omits any fact necessary to make the statements therein not misleading, and, at the request of any such seller, the Company shall prepare a supplement or amendment to such prospectus so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not contain an untrue statement of a material fact or omit to state any fact necessary to make the statements therein not misleading;

  (f) promptly notify each Participating Holder and each managing underwriter, if any:

  (i) when the registration statement, any pre-effective amendment, the prospectus or any prospectus supplement related thereto, any post-effective amendment to the registration statement or any free writing prospectus has been filed and, with respect to the registration statement or any post- effective amendment, when the same has become effective; (ii) of any request by the SEC or state securities authority for amendments or supplements to the registration statement or the prospectus related thereto or for additional information; (iii) of the issuance by the SEC of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings for that purpose; (iv) of the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or state “blue sky” laws of any jurisdiction or the initiation of any proceeding for such purpose; (v) of the existence of any fact of which the Company becomes aware which results in the registration statement or any amendment thereto, the prospectus related thereto or any supplement thereto, any document incorporated therein by reference, any free writing prospectus or the information conveyed to any purchaser at the time of sale to such purchaser containing an untrue statement of a material fact or omitting to state a material fact required to be stated therein or necessary to make any statement therein not misleading; and (vi) if at any time the representations and warranties contemplated by any underwriting agreement, securities sale agreement, or other similar agreement, relating to the offering shall cease to be true and correct in all material respects; and, if the notification relates to an event described in clause (v), the Company shall promptly prepare and furnish to each such seller and each underwriter, if any, a reasonable number of copies of a prospectus supplemented or amended so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein in the light of the circumstances under which they were made not misleading;

  (g) cause all such Registrable Securities to be listed on each securities exchange on which similar securities issued by the Company are then listed and, if not so listed, cause all such Registrable Securities to be listed on a national securities exchange and, without limiting the generality of the foregoing, to arrange for at least two market makers to register as such with respect to such Registrable Securities with FINRA;

  (h) cause its senior management, officers and employees to participate in, and to otherwise facilitate and cooperate with the preparation of the registration statement and prospectus and any amendments or supplements thereto (including participating in meetings, drafting sessions, due diligence sessions and rating agency presentations) taking into account the Company’s reasonable business needs;

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  (i) provide a transfer agent and registrar for all such Registrable Securities not later than the effective date of such registration statement;

  (j) enter into such customary agreements (including underwriting agreements in customary form) and take all such other actions as the Majority Participating Holders being sold or the underwriters, if any, reasonably request in order to expedite or facilitate the disposition of such Registrable Securities (including effecting a stock split or a combination of shares);

  (k) in any transaction involving the use of an underwriter or underwriters, use its reasonable best efforts (i) to obtain an opinion from the Company’s counsel, including local and/or regulatory counsel, and a comfort letter and updates thereof from the Company’s independent public accountants who have certified the Company’s financial statements included or incorporated by reference in such registration statement, in each case, in customary form and covering such matters as are customarily covered by such opinions and comfort letters (including, in the case of such comfort letter, events subsequent to the date of such financial statements) delivered to underwriters in underwritten public offerings, which opinion and letter shall be dated the dates such opinions and comfort letters are customarily dated and otherwise reasonably satisfactory to the underwriters, if any, and (ii) furnish to each Holder participating in the offering and to each underwriter, if any, a copy of such opinion and letter addressed to such underwriter;

  (l) make available for inspection by any seller of Registrable Securities, any underwriter participating in any disposition pursuant to such registration statement and any attorney, accountant or other agent retained by any such seller or underwriter, all financial and other records, pertinent corporate documents and properties of the Company, and cause the Company’s officers, directors, employees and independent accountants to supply all information reasonably requested by any such seller, underwriter, attorney, accountant or agent in connection with such registration statement;

  (m) deliver promptly to counsel for each Participating Holder and to each managing underwriter, if any, copies of all correspondence between the SEC and the Company, its counsel or auditors and all memoranda relating to discussions with the SEC or its staff with respect to the registration statement, and, upon receipt of such confidentiality agreements as the Company may reasonably request, make reasonably available for inspection by counsel for each Participating Holder, by counsel for any underwriter, participating in any disposition to be effected pursuant to such registration statement and by any accountant or other agent retained by any Participating Holder or any such underwriter, all pertinent financial and other records, pertinent corporate documents and properties of the Company, and cause all of the Company’s officers, directors and employees to supply all information reasonably requested by any such counsel for a Participating Holder, counsel for an underwriter, accountant or agent in connection with such registration statement;

  (n) use its reasonable best efforts to obtain the prompt withdrawal of any order suspending the effectiveness of the registration statement, or the prompt lifting of any suspension of the qualification of any of the Registrable Securities for sale in any jurisdiction, in each case, as promptly as reasonably practicable;

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  (o) provide a CUSIP number for all Registrable Securities, not later than the effective date of the registration statement;

  (p) use its best efforts to make available its senior management, employees and personnel for participation in “road shows” and other marketing efforts and otherwise provide reasonable assistance to the underwriters (taking into account the needs of the Company’s businesses and the requirements of the marketing process) in marketing the Registrable Securities in any underwritten offering;

  (q) promptly prior to the filing of any document which is to be incorporated by reference into the registration statement or the prospectus (after the initial filing of such registration statement), and prior to the filing of any free writing prospectus, provide copies of such document to counsel for each Participating Holder and to each managing underwriter, if any, and make the Company’s representatives reasonably available for discussion of such document and make such changes in such document concerning the Participating Holders prior to the filing thereof as counsel for the Participating Holders or underwriters may reasonably request;

  (r) furnish to counsel for each Participating Holder and to each managing underwriter, without charge, at least one signed copy of the registration statement and any post-effective amendments or supplements thereto, including financial statements and schedules, all documents incorporated therein by reference, the prospectus contained in such registration statement (including each preliminary prospectus and any summary prospectus), any other prospectus filed under Rule 424 under the Securities Act and all exhibits (including those incorporated by reference) and any free writing prospectus utilized in connection therewith;

  (s) cooperate with the Participating Holders and the managing underwriter, if any, to facilitate the timely preparation and delivery of certificates not bearing any restrictive legends representing the Registrable Securities to be sold, and cause such Registrable Securities to be issued in such denominations and registered in such names in accordance with the underwriting agreement at least two Business Days prior to any sale of Registrable Securities to the underwriters or, if not an underwritten offering, in accordance with the instructions of the Participating Holders at least two Business Days prior to any sale of Registrable Securities and instruct any transfer agent and registrar of Registrable Securities to release any stop transfer orders in respect thereof;

  (t) cooperate with any due diligence investigation by any manager, underwriter or Participating Holder and make available such documents and records of

  (u) the Company and its Subsidiaries that they reasonably request (which, in the case of the Participating Holder, may be subject to the execution by the Participating Holder of a customary confidentiality agreement in a form which is reasonably satisfactory to the Company);

  (v) take no direct or indirect action prohibited by Regulation M under the Exchange Act;

  (w) use its best efforts to comply with all applicable rules and regulations of the SEC, and make available to its security Holders, as soon as reasonably practicable, an earnings statement covering the period of at least twelve months beginning with the first day of the Company’s first full calendar quarter after the effective date of the registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;

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  (x) permit any Holder of Registrable Securities which Holder, in its sole and exclusive judgment, might be deemed to be an underwriter or a controlling person of the Company, to participate in the preparation of such registration or comparable statement and to require the insertion therein of material, furnished to the Company in writing, which in the reasonable judgment of such Holder and its counsel should be included;

  (y) in the event of the issuance of any stop order suspending the effectiveness of a registration statement, or of any order suspending or preventing the use of any related prospectus or suspending the qualification of any of the Company’s equity securities included in such registration statement for sale in any jurisdiction, the Company shall use its best efforts promptly to obtain the withdrawal of such order;

  (z) use its best efforts to cause such Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the sellers thereof to consummate the disposition of such Registrable Securities;

  (aa) obtain a cold comfort letter from the Company’s independent public accountants in customary form and covering such matters of the type customarily covered by cold comfort letters as the Majority Participating Holders reasonably request; provided, that such Registrable Securities constitute at least 10% of the securities covered by such registration statement; and

  (bb) take all such other commercially reasonable actions as are necessary or advisable in order to expedite or facilitate the disposition of such Registrable Securities;

  (cc) take all reasonable action to ensure that any free writing prospectus utilized in connection with any registration covered by Section 2.1 or Section 2.2 complies in all material respects with the Securities Act, is filed in accordance with the Securities Act to the extent required thereby, is retained in accordance with the Securities Act to the extent required thereby and, when taken together with the related prospectus, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in light of the circumstances under which they were made, not misleading; and

  (dd) in connection with any underwritten offering, if at any time the information conveyed to a purchaser at the time of sale includes any untrue statement of a material fact or omits to state any material fact necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading, promptly file with the SEC such amendments or supplements to such information as may be necessary so that the statements as so amended or supplemented will not, in light of the circumstances, be misleading.

  2.5. Registration Expenses. All Expenses incurred in connection with any registration, filing, qualification or compliance pursuant to Article 2 shall be borne by the Company, whether or not a registration statement becomes effective. All underwriting discounts and all selling commissions relating to securities registered by the Holders shall be borne by the holders or such securities pro rata in accordance with the number of shares sold in the offering by such Participating Holder.

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  2.6. No Required Sale. Nothing in this Agreement shall be deemed to create an independent obligation on the part of any Holder to sell any Registrable Securities pursuant to any effective registration statement.

  2.7. Indemnification.

  (a) In the event of any registration and/or offering of any securities of the Company under the Securities Act pursuant to this Article 2, the Company will, and hereby agrees to, and hereby does, indemnify and hold harmless, to the fullest extent permitted by law, each Holder, its directors, officers, fiduciaries, trustees, employees, shareholders, members or general and limited partners (and the directors, officers, fiduciaries, employees, shareholders, members, beneficiaries or general and limited partners thereof), any underwriter (as defined in the Securities Act) for such Holder and each Person, if any, who controls such Holder or underwriter within the meaning of the Securities Act or Exchange Act, from and against any and all losses, claims, damages or liabilities, joint or several, actions or proceedings (whether commenced or threatened) and expenses (including reasonable fees of counsel and any amounts paid in any settlement effected with the Company’s consent, which consent shall not be unreasonably withheld or delayed) to which each such indemnified party may become subject under the Securities Act or otherwise in respect thereof (collectively, “Claims”), insofar as such Claims arise out of or are based upon (i) any untrue statement or alleged untrue statement of a material fact contained in any registration statement under which such securities were registered under the Securities Act or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) any untrue statement or alleged untrue statement of a material fact contained in any preliminary or final prospectus or any amendment or supplement thereto, together with the documents incorporated by reference therein, or any free writing prospectus utilized in connection therewith, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading, or (iii) any untrue statement or alleged untrue statement of a material fact in the information conveyed by the Company to any purchaser at the time of the sale to such purchaser, or the omission or alleged omission to state therein a material fact required to be stated therein, or (iv) any violation by the Company of any federal, state or common law rule or regulation applicable to the Company and relating to action required of or inaction by the Company in connection with any such registration, and the Company will reimburse any such indemnified party for any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such Claim as such expenses are incurred; provided, however, that the Company shall not be liable to any such indemnified party in any such case to the extent such Claim arises out of or is based upon any untrue statement or alleged untrue statement of a material fact or omission or alleged omission of a material fact made in such registration statement or amendment thereof or supplement thereto or in any such prospectus or any preliminary or final prospectus or free writing prospectus in reliance upon and in conformity with written information furnished to the Company by or on behalf of such indemnified party specifically for use therein. Such indemnity and reimbursement of expenses shall remain in full force and effect regardless of any investigation made by or on behalf of such indemnified party and shall survive the transfer of such securities by such seller.

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  (b) Each Participating Holder shall, severally and not jointly, indemnify and hold harmless (in the same manner and to the same extent as set forth in paragraph (a) of this Section 2.7) to the extent permitted by law the Company, its officers and directors, each Person controlling the Company within the meaning of the Securities Act, each underwriter (within the meaning of the Securities Act) of the Company’s securities covered by such a registration statement, any Person who controls such underwriter, and any other Holder selling securities in such registration statement and each of its directors, officers, partners or agents or any Person who controls such Holder with respect to any untrue statement or alleged untrue statement of any material fact in, or omission or alleged omission of any material fact from, such registration statement, any preliminary or final prospectus contained therein, or any amendment or supplement thereto, or any free writing prospectus utilized in connection therewith, if such statement or alleged statement or omission or alleged omission was made in reliance upon and in conformity with written information furnished to the Company or its representatives by or on behalf of such Participating Holder, specifically for use therein and reimburse such indemnified party for any legal or other expenses reasonably incurred in connection with investigating or defending any such Claim as such expenses are incurred; provided, however, that the aggregate amount which any such Participating Holder shall be required to pay pursuant to this Section 2.7(b) and Section 2.7(d) shall in no case be greater than the amount of the net proceeds actually received by such Participating Holder upon the sale of the Registrable Securities pursuant to the registration statement giving rise to such Claim. The Company and each Participating Holder hereby acknowledge and agree that, unless otherwise expressly agreed to in writing by such Participating Holders to the contrary, for all purposes of this Agreement, the only information furnished or to be furnished to the Company for use in any such registration statement, preliminary or final prospectus or amendment or supplement thereto or any free writing prospectus are statements specifically relating to (a) the Beneficial Ownership of Class A Common Stock by such Participating Holder and its Affiliates and (b) the name and address of such Participating Holder. Such indemnity and reimbursement of expenses shall remain in full force and effect regardless of any investigation made by or on behalf of such indemnified party and shall survive the transfer of such securities by such Holder.

  (c) Any Person entitled to indemnification under this Agreement shall notify promptly the indemnifying party in writing of the commencement of any action or proceeding with respect to which a claim for indemnification may be made pursuant to this Section 2.9, but the failure of any indemnified party to provide such notice shall not relieve the indemnifying party of its obligations under the preceding paragraphs of this Section 2.9, except to the extent the indemnifying party is materially and actually prejudiced thereby and shall not relieve the indemnifying party from any liability which it may have to any indemnified party otherwise than under this Article 2. In case any action or proceeding is brought against an indemnified party, the indemnifying party shall be entitled to (x) participate in such action or proceeding and (y) unless, in the reasonable opinion of outside counsel to the indemnified party, a conflict of interest between such indemnified and indemnifying parties may exist in respect of such claim, assume the defense thereof jointly with any other indemnifying party similarly notified, with counsel reasonably satisfactory to such indemnified party. The indemnifying party shall promptly notify the indemnified party of its decision to assume the defense of such action or proceeding. If, and after, the indemnified party has received such notice from the indemnifying party, the indemnifying party shall not be liable to such indemnified party for any legal or other expenses subsequently incurred by such indemnified party in connection with the defense of such action or proceeding other than 

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  reasonable costs of investigation; provided, however, that (i) if the indemnifying party fails to take reasonable steps necessary to defend diligently the action or proceeding within 10 days after receiving notice from such indemnified party that the indemnified party believes it has failed to do so; or (ii) if such indemnified party who is a defendant in any action or proceeding which is also brought against the indemnifying party reasonably shall have concluded that there may be one or more legal or equitable defenses available to such indemnified party which are not available to the indemnifying party or which may conflict with those available to another indemnified party with respect to such Claim; or (iii) if representation of both parties by the same counsel is otherwise inappropriate under applicable standards of professional conduct, then, in any such case, the indemnified party shall have the right to assume or continue its own defense as set forth above (but with no more than one firm of counsel for all indemnified parties in each jurisdiction, except to the extent any indemnified party or parties reasonably shall have made a conclusion described in clause (ii) or (iii) above) and the indemnifying party shall be liable for any expenses therefor. No indemnifying party shall, without the written consent of the indemnified party, effect the settlement or compromise of, or consent to the entry of any judgment with respect to, any pending or threatened action or claim in respect of which indemnification or contribution may be sought hereunder (whether or not the indemnified party is an actual or potential party to such action or claim), unless such settlement or compromise (i) includes an unconditional release of such indemnified party from all liability on any claims that are the subject matter of such action or claim and (ii) does not include a statement as to, or an admission of, fault, culpability or a failure to act by or on behalf of an indemnified party. The indemnity obligations contained in Section 2.7(a) and Section 2.7(b) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability or action if such settlement is effected without the consent of the indemnified party which consent shall not be unreasonably withheld.

  (d) If for any reason the foregoing indemnity is held by a court of competent jurisdiction to be unavailable to an indemnified party under Section 2.7(a) or Section 2.7(b), then each applicable indemnifying party shall contribute to the amount paid or payable to such indemnified party as a result of any Claim in such proportion as is appropriate to reflect the relative fault of the indemnifying party, on the one hand, and the indemnified party, on the other hand, with respect to such Claim as well as any other relevant equitable considerations. The relative fault shall be determined by a court of law by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the indemnifying party or the indemnified party and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such untrue statement or omission. If, however, the allocation provided in the second preceding sentence is not permitted by applicable law, then each indemnifying party shall contribute to the amount paid or payable by such indemnified party in such proportion as is appropriate to reflect not only such relative faults but also the relative benefits of the indemnifying party and the indemnified party as well as any other relevant equitable considerations. The parties hereto agree that it would not be just and equitable if any contribution pursuant to this Section 2.7(d) were to be 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 preceding sentences of this Section 2.7(d). The amount paid or payable in respect of any Claim shall be deemed to include any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such Claim. 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 

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  fraudulent misrepresentation. Notwithstanding anything in this Section 2.7(d) to the contrary, no indemnifying party (other than the Company) shall be required pursuant to this Section 2.7(d) to contribute any amount greater than the amount of the net proceeds actually received by such indemnifying party upon the sale of the Registrable Securities pursuant to the registration statement giving rise to such Claim, less the amount of any indemnification payment made by such indemnifying party pursuant to Section 2.7(b).

  (e) The indemnity and contribution agreements contained herein shall be in addition to any other rights to indemnification or contribution which any indemnified party may have pursuant to law or contract (except as set forth in subsection (f) below) and shall remain operative and in full force and effect regardless of any investigation made or omitted by or on behalf of any indemnified party and shall survive the transfer of the Registrable Securities by any such party and the completion of any offering of Registrable Securities in a registration statement.

  (f) If a customary underwriting agreement shall be entered into in connection with any registration pursuant to Section 2.1 or Section 2.2 and certain indemnity, contribution and related provisions between the Company and the Participating Holder, the indemnity, contribution and related provisions set forth therein shall supersede the indemnification and contribution provisions set forth in this Section 2.7.

  2.8. Participation in Underwritten Registrations. No Person may participate in any registration hereunder which is underwritten unless such Person (i) agrees to sell such Person’s Registrable Securities on the basis provided in any underwriting arrangements approved by the Person or Persons entitled hereunder to approve such arrangements and (ii) completes and executes all questionnaires, powers of attorney, indemnities, underwriting agreements and other documents required under the terms of such underwriting arrangements; provided, that no Holder of Registrable Securities included in any underwritten registration shall be required to make any representations or warranties to the Company or the underwriters (other than representations and warranties regarding such Holder and such Holder’s intended method of distribution) or to undertake any indemnification obligations, or provide any information, to the Company or the underwriters with respect thereto, except as otherwise provided in Section 2.8 hereof.

  2.9. No Inconsistent Agreements. The Company shall not hereafter enter into any agreement with respect to its securities that is inconsistent with or violates the rights granted to the Holders in this Agreement.

  2.10. Adjustments Affecting Registrable Securities. The Company shall not take any action, or permit any change to occur, with respect to its securities which would adversely affect the ability of the Holders of Registrable Securities to include such Registrable Securities in a registration undertaken pursuant to this Agreement or which would adversely affect the marketability of such Registrable Securities in any such registration (including, without limitation, effecting a stock split or a combination of shares).

  Section 3. General

  3.1. Rule 144 and Rule 144A. If the Company shall have filed a registration statement pursuant to the requirements of Section 12 of the Exchange Act or a registration statement pursuant 

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  to the requirements of the Securities Act in respect of the Class A Common Stock or Common Stock Equivalents, the Company covenants that (i) so long as it remains subject to the reporting provisions of the Exchange Act, it will timely file the reports required to be filed by it under the Securities Act or the Exchange Act (including, but not limited to, the reports under Sections 13 and 15(d) of the Exchange Act referred to in subparagraph (c)(1)(i) of Rule 144 promulgated by the SEC under the Securities Act, as such Rule may be amended (“Rule 144”)) or, if the Company is not required to file such reports, it will, upon the request of any Holder, make publicly available other information so long as necessary to permit sales by such Holder under Rule 144, Rule 144A promulgated by the SEC under the Securities Act, as such Rule may be amended (“Rule 144A”), or any similar rules or regulations hereafter adopted by the SEC, and (ii) it will take such further action as any Holder may reasonably request, all to the extent required from time to time to enable such Holder to sell Registrable Securities without registration under the Securities Act within the limitation of the exemptions provided by (A) Rule 144, (B) Rule 144A or (C) any similar rule or regulation hereafter adopted by the SEC. Upon the request of any Holder of Registrable Securities, the Company will deliver to such Holder a written statement as to whether it has complied with such requirements.

  3.2. Nominees for Beneficial Owners. If Registrable Securities are held by a nominee for the Beneficial Owner thereof the Beneficial Owner thereof may, at its option, be treated as the Holder of such Registrable Securities for purposes of any request or other action by any Holder or Holders of Registrable Securities pursuant to this Agreement (or any determination of any number or percentage of shares constituting Registrable Securities held by any Holder or Holders of Registrable Securities contemplated by this Agreement), provided that the Company shall have received assurances reasonably satisfactory to it of such Beneficial Ownership.

  3.3. Amendments and Waivers. Except as otherwise provided herein, no modification, amendment or waiver of any provision of this Agreement shall be effective against the Company or any Holder unless such modification, amendment or waiver is approved in writing by (i) the Company and (ii) the Holders holding or Beneficially Owning more than 50% of the Registrable Securities then held by all Holders; provided that any amendment, modification, supplement or waiver of any of the provisions of this Agreement which disproportionately and materially adversely affects any Holder shall not be effective without the written approval of such Holder. For purposes of the foregoing proviso, each of Advent, Spectrum, the Krantz Holder and 22C shall be deemed to be disproportionately materially adversely affected if any right specifically granted to any such Person herein (even if such right is granted to one or more other Holders), is amended, modified, supplemented or waived. No waiver of any of the provisions of this Agreement shall be deemed to or shall constitute a waiver of any other provision hereof (whether or not similar). No failure or delay on the part of any party in exercising any right, power or privilege hereunder shall operate as a waiver thereof or of any other or future exercise of any such right, power or privilege.

  3.4. Notices.

  (a) All notices and other communications under this Agreement shall be in writing and shall be deemed given (i) when delivered personally by hand (with written confirmation of receipt), (ii) when sent by e-mail, (iii) when received or rejected by the addressee if sent by registered or certified mail, postage prepaid, return receipt requested, or (iv) one Business Day following the day sent by reputable overnight courier (with written confirmation of receipt), in each case at the 

  23

  

   

  following addresses (or to such other address as a party may have specified by notice given to the other party pursuant to this provision):

  (i) if to the Company, to:

  Definitive Healthcare Corp.

  550 Cochiuate Rd

  Framingham, MA 01701

  Attention: David M. Samuels

  E-mail: dsamuels@definitivehc.com

  with a copy, which shall not constitute notice, to:

  Weil, Gotshal & Manges LLP

  767 Fifth Avenue

  New York, NY 10153

  Attention: Alexander D. Lynch and Ashley Butler

  Email: alex.lynch@weil.com; ashley.butler@weil.com

  (ii) if to the Holders, to the address indicated in the records of the Company.

  (b) Whenever any notice is required to be given by law or this Agreement, a written waiver thereof, signed by the Person entitled to notice, whether before or after the time stated therein, shall be deemed equivalent to the giving of such notice.

  3.5. Successors and Assigns. Except as otherwise provided herein, this Agreement shall be binding upon and inure to the benefit of and be enforceable by the parties hereto and the respective successors, permitted assigns, heirs and personal representatives of the parties hereto, whether so expressed or not. This Agreement may not be assigned by the Company without the prior written consent of each of Advent, Spectrum, the Krantz Holder and 22C. Each Holder shall have the right to assign all or part of its or his rights and obligations under this Agreement only in accordance with transfers of Registrable Securities to such Holder’s Permitted Transferees. Upon any such assignment, such assignee shall have and be able to exercise and enforce all rights of the assigning Holder which are assigned to it and, to the extent such rights are assigned, any reference to the assigning Holder shall be treated as a reference to the assignee. If any Holder shall acquire additional Registrable Securities, such Registrable Securities shall be subject to all of the terms, and entitled to all the benefits, of this Agreement.

  3.6. Entire Agreement. This Agreement and the other documents referred to herein or delivered pursuant hereto which form part hereof constitute the entire agreement and understanding between the parties hereto and supersedes all prior agreements and understandings relating to the subject matter hereof.

  3.7. Governing Law; Submission to Jurisdiction; Waiver of Jury Trial.

  (a) GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE INTERNAL LAWS AND JUDICIAL DECISIONS OF THE STATE OF DELAWARE APPLICABLE TO AGREEMENTS 

  24

  

   

  EXECUTED AND PERFORMED ENTIRELY WITHIN SUCH STATE, REGARDLESS OF THE LAWS THAT MIGHT OTHERWISE GOVERN UNDER APPLICABLE PRINCIPLES OF CONFLICTS OF LAWS THEREOF.

  (b) Jurisdiction. Each of the parties hereto irrevocably submits to the exclusive jurisdiction of (i) the Court of Chancery of the State of Delaware and (ii) the United States District Court located in the State of Delaware for the purposes of any suit, action or other proceeding arising out of or relating to this Agreement or the transactions contemplated by this Agreement. Each of the parties hereto irrevocably and unconditionally waives any objection to the laying of venue of any action, suit or proceeding arising out of or relating to this Agreement or the transactions contemplated by this Agreement in (I) the Court of Chancery of the State of Delaware or (II) the United States District Court located in the State of Delaware and waives any claim that such suit or proceeding has been brought in an inconvenient forum. Each of the parties hereto agrees that a final and unappealable judgment in any action or proceeding so brought shall be conclusive and may be enforced by suit on the judgment in any jurisdiction within or outside the United States or in any other manner provided in law or in equity

  (c) WAIVER OF JURY TRIAL. EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE IT HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT AND ANY OF THE AGREEMENTS DELIVERED IN CONNECTION HEREWITH OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (I) NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER, (II) IT UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF SUCH WAIVER, (III) IT MAKES SUCH WAIVER VOLUNTARILY AND (IV) IT HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVER AND CERTIFICATIONS IN THIS 3.7.

  3.8. Interpretation; Construction.

  (a) The table of contents and headings in this Agreement are for convenience of reference only, do not constitute part of this Agreement and shall not be deemed to limit or otherwise affect any of the provisions hereof. Where a reference in this Agreement is made to a Section, such reference shall be to a Section of this Agreement unless otherwise indicated. Whenever the words “include,” “includes” or “including” are used in this Agreement, they shall be deemed to be followed by the words “without limitation.”

  (b) The parties have participated jointly in negotiating and drafting this Agreement. In the event that an ambiguity or a question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the parties, and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provision of this Agreement.

  25

  

   

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

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

  3.11. Remedies. The parties hereto agree that irreparable damage would occur in the event that any of the provisions of this Agreement were not performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed that each party hereto shall be entitled to an injunction or injunctions to prevent breaches of this Agreement and to enforce specifically the terms and provisions of this Agreement, without the posting of any bond, and, if any action should be brought in equity to enforce any of the provisions of this Agreement, none of the parties hereto shall raise the defense that there is an adequate remedy at law. All remedies, either under this Agreement, by law, or otherwise afforded to any party, shall be cumulative and not alternative.

  3.12. Further Assurances. Each party hereto shall do and perform or cause to be done and performed all such further acts and things and shall execute and deliver all such other agreements, certificates, instruments, and documents as any other party hereto reasonably may request in order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the transactions contemplated hereby.

  3.13. Confidentiality.

  (a) Each Holder acknowledges that the provisions of this Agreement that require communications by the Company or other Holders to such Holder may result in such Holder and its Section 3.13 Representatives acquiring material non-public information (which may include, solely by way of illustration, the fact that an offering of the Company’s securities is pending or the number of Company securities or the identity of the selling Holders).

  (b) Each Holder agrees that it will maintain the confidentiality of such material non- public information and, to the extent such Holder is not a natural person, such confidential treatment shall be in accordance with procedures adopted by it in good faith to protect confidential information of third parties delivered to such Holder (“Policies”); provided that a Holder may deliver or disclose material non-public information to (i) its directors, officers, employees, agents, attorneys, Affiliates and financial and other advisors, in each case, who reasonably need to know such information (collectively, the “Section 3.13 Representatives”), (ii) any federal or state regulatory authority having jurisdiction over such Holder, (iii) any Person if necessary to effect compliance with any law, rule, regulation or order applicable to such Holder, (iv) in response to any subpoena or other legal process, or (v) in connection with any litigation to which such Holder is a party and 

  26

  

   

  such Holder is advised by counsel that such information reasonably needs to be disclosed in connection with such litigation; provided further, that in the case of clause (i), the recipients of such material non-public information are subject to the Policies or are directed to hold confidential the material non-public information in a manner substantially consistent with the terms of this Section 3.13.

  (c) Each Holder shall have the right, at any time and from time to time (including after receiving information regarding any potential sale or distribution to the public of Class A Common Stock of the Company pursuant to an offering registered under the Securities Act, whether by the Company, by Holders and/or by any other Holders of the Company’s Class A Common Stock), to elect to not receive any notice that the Company or any other Holders otherwise are required to deliver pursuant to this Agreement by delivering to the Company a written statement signed by such Holder that it does not want to receive any notices hereunder (an “Opt-Out Request”); in which case and notwithstanding anything to the contrary in this Agreement the Company and other Holders shall not be required to, and shall not, deliver any notice or other information required to be provided to Holders hereunder to the extent that the Company or such other Holders reasonably expect would result in a Holder acquiring material non-public information. An Opt-Out Request may state a date on which it expires or, if no such date is specified, shall remain in effect indefinitely. A Holder who previously has given the Company an Opt-Out Request may revoke such request at any time, and there shall be no limit on the ability of a Holder to issue and revoke subsequent Opt-Out Requests; provided that each Holder shall use commercially reasonable efforts to minimize the administrative burden on the Company arising in connection with any such Opt- Out Requests.

  3.14. Termination and Effect of Termination. This Agreement shall terminate with respect to each Holder when such Holder no longer holds any Registrable Securities and will terminate in full when no Holder holds any Registrable Securities, except for the provisions of Sections 2.7, which shall survive any such termination. No termination under this Agreement shall relieve any Person of liability for breach or Expenses incurred prior to termination. In the event this Agreement is terminated, each Person entitled to indemnification rights pursuant to Section 2.7 shall retain such indemnification rights with respect to any matter that (i) may be an indemnified liability thereunder and (ii) occurred prior to such termination.

  [Remainder of Page Intentionally Left Blank]

   

  27

  

   

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

   

  			
	COMPANY:

	 
	 
	 

	DEFINITIVE HEALTHCARE CORP.

	 
	 
	 

	By: 
	 
	/s/ Jason Krantz

	Name:
	 
	Jason Krantz

	Title:
	 
	Chief Executive Officer

   

  [SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT]

   

  28

  

   

  HOLDERS:

  ADVENT INTERNATIONAL GPE IX LIMITED PARTNERSHIP

  ADVENT INTERNATIONAL GPE IX-B LIMITED PARTNERSHIP

  ADVENT INTERNATIONAL GPE IX-C LIMITED PARTNERSHIP

  ADVENT INTERNATIONAL GPE IX-F LIMITED PARTNERSHIP

  ADVENT INTERNATIONAL GPE IX-G LIMITED PARTNERSHIP

  ADVENT INTERNATIONAL GPE IX-H LIMITED PARTNERSHIP

  ADVENT INTERNATIONAL GPE IX-I LIMITED PARTNERSHIP

   

  				
	By:
	GPE IX GP Limited Partnership, its
General Partner
	 

	By:
	Advent International GPE IX, LLC, its
General Partner
	 

	By:
	Advent International Corporation, its
Manager
	 

	 
	 
	 
	 

	By:
	/s/ James Westra
	 

	 
	Name:
	James Westra
	 

	 
	Title:
	Chief Legal Officer, General Counsel, and Managing Partner
	 

   

  ADVENT PARTNERS GPE IX LIMITED PARTNERSHIP

  ADVENT PARTNERS GPE IX-A LIMITED PARTNERSHIP

  ADVENT PARTNERS GPE IX-A CAYMAN LIMITED PARTNERSHIP

  ADVENT PARTNERS GPE IX-B CAYMAN LIMITED PARTNERSHIP

  ADVENT PARTNERS GPE IX CAYMAN LIMITED PARTNERSHIP

   

  				
	By:
	AP GPE IX GP Limited Partnership,
its General Partner
	 

	By:
	Advent International GPE IX, LLC, its
General Partner
	 

	By:
	Advent International Corporation, its
Manager
	 

	 
	 
	 
	 

	By:
	/s/ James Westra
	 

	 
	Name:
	James Westra
	 

	 
	Title:
	Chief Legal Officer, General Counsel, and Managing Partner
	 

   

   

  29

  

   

  ADVENT INTERNATIONAL GPE IX-A SCSP

  ADVENT INTERNATIONAL GPE IX-D SCSP

  ADVENT INTERNATIONAL GPE IX-E SCSP

  ADVENT PARTNERS GPE IX STRATEGIC INVESTORS SCSP

   

  				
	By:
	GPE IX GP S.à r.l., its
General Partner
	 

	By:
	Advent International GPE IX, LLC, its
	/s/ Justin Nuccio

	 
	General Partner
	Justin Nuccio, Manager

	By:
	Advent International Corporation, its
Manager
	 

	 
	 
	 
	 

	By:
	/s/ James Westra
	 

	 
	Name:
	James Westra
	 

	 
	Title:
	Chief Legal Officer, General Counsel, and Managing Partner
	 

   

  ADVENT GLOBAL TECHNOLOGY LIMITED PARTNERSHIP

  ADVENT GLOBAL TECHNOLOGY-B LIMITED PARTNERSHIP

  ADVENT GLOBAL TECHNOLOGY-C LIMITED PARTNERSHIP

  ADVENT GLOBAL TECHNOLOGY-D LIMITED PARTNERSHIP

   

  				
	By:
	Advent Global Technology GP Limited
Partnership, its
General Partner
	 

	By:
	Advent Global Technology LLC, its
General Partner
	 

	By:
	Advent International Corporation, its
Manager
	 

	 
	 
	 
	 

	By:
	/s/ James Westra
	 

	 
	Name:
	James Westra
	 

	 
	Title:
	Chief Legal Officer, General Counsel, and Managing Partner
	 

   

  [SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT]

   

  30

  

   

  ADVENT GLOBAL TECHNOLOGY-A SCSP

   

  				
	By:
	Advent Global Technology GP S.à r.l., its
General Partner
	 

	By:
	Advent Global Technology LLC, its
	/s/ Justin Nuccio

	 
	General Partner
	Justin Nuccio, Manager

	By:
	Advent International Corporation, its
Manager
	 

	 
	 
	 
	 

	By:
	/s/ James Westra
	 

	 
	Name:
	James Westra
	 

	 
	Title:
	Chief Legal Officer, General Counsel, and Managing Partner
	 

   

  ADVENT PARTNERS AGT CAYMAN LIMITED PARTNERSHIP

  ADVENT PARTNERS AGT LIMITED PARTNERSHIP

  ADVENT PARTNERS AGT-A LIMITED PARTNERSHIP

  ADVENT GLOBAL TECHNOLOGY STRATEGIC INVESTORS LIMITED PARTNERSHIP

   

  				
	By:
	AP AGT GP Limited Partnership, its
General Partner
	 

	By:
	Advent Global Technology LLC, its
General Partner
	 

	By:
	Advent International Corporation, its
Manager
	 

	 
	 
	 
	 

	By:
	/s/ James Westra
	 

	 
	Name:
	James Westra
	 

	 
	Title:
	Chief Legal Officer, General Counsel, and Managing Partner
	 

   

  SUNLEY HOUSE CAPITAL MASTER LIMITED PARTNERSHIP

   

  				
	By:
	Sunley House Capital GP LP, its
General Partner
	 

	By:
	Sunley House Capital GP LLC, its
General Partner
	 

	 
	 
	 
	 

	By:
	/s/ James Westra
	 

	 
	Name:
	James Westra
	 

	 
	Title:
	Authorized Signatory
	 

   

  [SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT]

   

  31

  

   

   

  	
	/s/ Jason R. Krantz

	Jason R. Krantz

   

  [SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT]

   

  32

  

   

   

  			
	DH HOLDINGS (fka Jason R. Krantz 2009 Trust)

	By 
	 
	/s/ Jason Krantz

	Name:
	 
	Jason Krantz

	Title: 
	 
	Director

   

  [SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT]

   

  33

  

   

  Signed and delivered on behalf of each of the following persons on an individual basis:

   

  Allastair Meffen

  Alys Reynder Scott

  Andrew Nelson

  Catherine Wright

  Dave Courville

  Dave Peisach

  David Kronfeld

  David Thornton

  Jason Mitchell

  John Macek

  Julie Moore

  Kevin P. Shone

  Kurt Anderson

  Mark Haddad

  Echelon 2017, LP

  Patrick Roberts

  Robert Gleavy

  Stefan Evers

  Todd Bellemare

  Tom Spencer

  Anderson Lavor

  Bauerle Lars

  Björn Carlsson

  Brian Harper

  Chris Marcogliese

  Christopher Brooks

  Elizabeth McCann

  Erin Moxley

  Evan Cox

  Gregg Vincent

  Guy Bowman

  Henrik Alburg

  Jake Christman

  Janet Carlisle

  Jason Reynolds

  Jordan McAdams

  Justin Steinman

  Keegan Hellweg

  Ken Cote

  Laine Lovell

  Maggie Fortune

  Marc Delaronde

   

  [SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT]

   

  34

  

   

   

  Marissa Peoples

  Mark Schroeder

  Matthew Martocci

  Michelle Liro

  Naveen Hariprasad

  Nils-Johan Hult

  Oskar Thornblad

  Paul Bolick

  Paula 

  Randy Wambold

  Robert Groebel

  Robin Priddis

  Ryan Sowers

  Scott Oberlink

  Steve Aubertin

  Steve Carr

  Thomas Baker

  Thomas Cribben

  Tina Christopher

  Tom Jordan

  Tom Middleton

  Tom Penque

  Jill Larsen Digital HR LLC

  Robert W. Musslewhite

  Robert Musslewhite 2014 Family Trust

  Kate Shamsuddin

  Joseph Mirisola

  David Samuels

  Richard Booth

  Samuel Allen Hamood Trust U/A 8/27/2010

  Michael Liu

  MHDH USA Inc.

  Paula Sjövall Boultbee

  Joseph F Donahue

  Joseph H 

  Christopher Ahlberg

  Keep Enterprises LLC

  Lars Bauerle

  Andrew H. Palmer

  acting by each of their lawfully appointed attorney

   

  	
	/s/ Jason Krantz

	Jason Krantz

   

  [SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT]

   

   

  35

  

   

   

  	
	/s/ Jeffrey C. Haywood

	Jeffrey C. Haywood

   

  [SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT]

   

  36

  

   

   

  	
	/s/ Christopher T. Mitchell

	Christopher T. Mitchell

   

  [SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT]

   

  37

  

   

   

  			
	SE VII DHC AIV, L.P.

	 
	 
	 

	By:
	 
	Spectrum Equity Associates VII, L.P., its 

	 
	 
	General Partner

	 
	 
	 

	By:
	 
	SEA VII Management, LLC, its

	 
	 
	General Partner

	 
	 
	 

	By:
	 
	/s/ Christopher Mitchell

	Name:
	 
	Christopher Mitchell

	Title:
	 
	Managing Director

   

  			
	SPECTRUM VII INVESTMENT MANAGERS' FUND, L.P.

	 
	 
	 

	By:
	 
	SEA VII Management, LLC, its

	 
	 
	General Partner

	 
	 
	 

	By:
	 
	/s/ Christopher Mitchell

	Name:
	 
	Christopher Mitchell

	Title:
	 
	Managing Director

   

  			
	SPECTRUM VII CO-INVESTMENT FUND, L.P.

	 
	 
	 

	By:
	 
	/s/ Christopher Mitchell

	Name:
	 
	Christopher Mitchell

	Title:
	 
	Managing Director

   

  [SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT]

   

   

  38

  

   

  			
	SE VII DHC AIV FEEDER CORPORATION

	 
	 
	 

	By:
	 
	SE VII DHC AIV Feeder, L.P., its

	 
	 
	Sole Shareholder

	 
	 
	 

	By:
	 
	Spectrum Equity Associates VII, L.P.,

	 
	 
	its General Partner

	 
	 
	 

	By:
	 
	SEA VII Management, LLC, its

	 
	 
	General Partner

	 
	 
	 

	By:
	 
	/s/ Christopher Mitchell

	Name:
	 
	Christopher Mitchell

	Title:
	 
	Managing Director

   

  			
	SE VII DHC AIV FEEDER, L.P.

	 
	 
	 

	By:
	 
	Spectrum Equity Associates VII, L.P., its

	 
	 
	General Partner

	 
	 
	 

	By:
	 
	SEA VII Management, LLC, its

	 
	 
	General Partner

	 
	 
	 

	By:
	 
	/s/ Christopher Mitchell

	Name:
	 
	Christopher Mitchell

	Title:
	 
	Managing Director

   

  [SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT]

   

   

  39

  

   

   

  			
	22 AIDH AIV LLC

	 
	 
	 

	By:
	 
	22C Capital GP I, L.L.C., its

	 
	 
	General Partner

	 
	 
	 

	By:
	 
	22C Capital GP I MM LLC, its

	 
	 
	Managing Member

	 
	 
	 

	 
	 
	 

	By:
	 
	/s/ David Randall Winn

	Name:
	 
	David Randall Winn

	Title:
	 
	Member

	 
	 
	 

	 
	 
	 

	By:
	 
	/s/ Eric J. Edell

	Name:
	 
	Eric J. Edell

	Title:
	 
	Member

   

  			
	22C CAPITAL I-A, L.P.

	 
	 
	 

	By:
	 
	22C Capital GP I, L.L.C., its

	 
	 
	General Partner

	 
	 
	 

	By:
	 
	22C Capital GP I MM LLC, its

	 
	 
	Managing Member

	 
	 
	 

	 
	 
	 

	By:
	 
	/s/ David Randall Winn

	Name:
	 
	David Randall Winn

	Title:
	 
	Member

	 
	 
	 

	 
	 
	 

	By:
	 
	/s/ Eric J. Edell

	Name:
	 
	Eric J. Edell

	Title:
	 
	Member

   

  [SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT]

   

  40

  

   

   

  			
	22C CAPITAL I, L.P.

	 
	 
	 

	By:
	 
	22C Capital GP I, L.L.C., its

	 
	 
	General Partner

	 
	 
	 

	By:
	 
	22C Capital GP I MM LLC, its

	 
	 
	Managing Member

	 
	 
	 

	 
	 
	 

	By:
	 
	/s/ David Randall Winn

	Name:
	 
	David Randall Winn

	Title:
	 
	Member

	 
	 
	 

	 
	 
	 

	By:
	 
	/s/ Eric J. Edell

	Name:
	 
	Eric J. Edell

	Title:
	 
	Member

   

  			
	22C AIDH TOPCO AGGREGATOR, L.L.C.

	 
	 
	 

	By:
	 
	22C Capital LLC, its

	 
	 
	Managing Member

	 
	 
	 

	 
	 
	 

	By:
	 
	/s/ David Randall Winn

	Name:
	 
	David Randall Winn

	Title:
	 
	Member

	 
	 
	 

	 
	 
	 

	By:
	 
	/s/ Eric J. Edell

	Name:
	 
	Eric J. Edell

	Title:
	 
	Member

   

  [SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT]

   

  41

  

   

   

  	
	GLENNARVID AB

	 

	Signed and delivered on behalf of

	GlennArvid AB,

	acting by its lawfully appointed attorney

	 

	 

	/s/ Björn Carlsson

	Björn Carlsson

   

   

  [SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT]

   

  42

  

   

   

  	
	GP BULLHOUND FUND IV SCSP

	 

	Signed and delivered on behalf of

	GP Bullhound Fund IV SCSp,

	acting by its lawfully appointed attorney

	 

	 

	/s/ Björn Carlsson

	Björn Carlsson

   

   

  [SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT]

   

  43

  

   

   

  	
	GERHARD DAL

	 

	Signed and delivered on behalf of

	Gerhard Dal,

	acting by its lawfully appointed attorney

	 

	 

	/s/ Björn Carlsson

	Björn Carlsson

   

  [SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT]

   

  44

  

   

   

  	
	OLOF GUSTAF PAULUS ISAKSSON

	 

	Signed and delivered on behalf of

	Olof Gustaf Paulus Isaksson,

	acting by its lawfully appointed attorney

	 

	 

	/s/ Björn Carlsson

	Björn Carlsson

   

  [SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT]

   

  45

  

   

   

  	
	HENRIK LJUNGQVIST AB

	 

	Signed and delivered on behalf of

	Henrik Ljungqvist AB,

	acting by its lawfully appointed attorney

	 

	 

	/s/ Björn Carlsson

	Björn Carlsson

   

  [SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT]

   

  46

  

   

   

  	
	HEALTHCOM GMBH

	 

	Signed and delivered on behalf

	HealthCom GmbH,

	acting by its lawfully appointed attorney

	 

	 

	/s/ Björn Carlsson

	Björn Carlsson

   

  [SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT]

   

  47

  

   

   

  	
	GREG BATCHELLER

	 

	Signed and delivered on behalf of

	Greg Batcheller,

	acting by its lawfully appointed attorney

	 

	 

	/s/ Björn Carlsson

	Björn Carlsson

   

  [SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT]

   

  48

  

   

   

  	
	ALBONJA AB

	 

	Signed and delivered on behalf of

	Albonja AB,

	acting by its lawfully appointed attorney

	 

	 

	/s/ Björn Carlsson

	Björn Carlsson

   

  [SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT]

   

  49

  

   

   

  	
	KAMEDA CONSULTING

	 

	Signed and delivered on behalf of

	Kameda Consulting,

	acting by its lawfully appointed attorney

	 

	 

	/s/ Björn Carlsson

	Björn Carlsson

   

  [SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT]

   

  50

  

   

   

  	
	NILS GÖRAN GUMMESSON

	 

	Signed and delivered on behalf of

	Nils Göran Gummesson,

	acting by its lawfully appointed attorney

	 

	 

	/s/ Björn Carlsson

	Björn Carlsson

   

  [SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT]

   

  51

  

   

   

  	
	BENGT HALSE

	 

	Signed and delivered on behalf

	Bengt Halse,

	acting by its lawfully appointed attorney

	 

	 

	/s/ Björn Carlsson

	Björn Carlsson

   

  [SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT]

   

  52

  

   

   

  	
	HEMSTIGEN AB

	 

	Signed and delivered on behalf of

	Hemstigen AB,

	acting by its lawfully appointed attorney

	 

	 

	/s/ Björn Carlsson

	Björn Carlsson

   

  [SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT]

   

  53

  

   

   

  	
	SKAGERACK VENTURES AB

	 

	Signed and delivered on behalf

	Skagerack Ventures AB,

	acting by its lawfully appointed attorney

	 

	 

	/s/ Björn Carlsson

	Björn Carlsson

   

  [SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT]

   

  54

  

   

   

  	
	THOMAS HEDNER

	 

	Signed and delivered on behalf

	Thomas Hedner,

	acting by its lawfully appointed attorney

	 

	 

	/s/ Björn Carlsson

	Björn Carlsson

   

  [SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT]

   

  55

  

   

   

  	
	HANS OLOV SÖREN OLSSON

	 

	Signed and delivered on behalf of

	Hans Olov Sören Olsson,

	acting by its lawfully appointed attorney

	 

	 

	/s/ Björn Carlsson

	Björn Carlsson

   

  [SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT]

   

  56

  

   

   

  	
	IJUNGFRUGATAN INVEST AB

	 

	Signed and delivered on behalf of

	iJungfrugatan Invest AB,

	acting by its lawfully appointed attorney

	 

	 

	/s/ Björn Carlsson

	Björn Carlsson

   

  [SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT]

   

  57

  

   

   

  	
	ROITAN HOLDING AB

	 

	Signed and delivered on behalf of

	Roitan Holding AB,

	acting by its lawfully appointed attorney

	 

	 

	/s/ Björn Carlsson

	Björn Carlsson

   

  [SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT]

   

  58

  

   

   

  	
	PETTER ERIKSSON

	 

	Signed and delivered on behalf

	Petter Eriksson,

	acting by its lawfully appointed attorney

	 

	 

	/s/ Björn Carlsson

	Björn Carlsson

   

  [SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT]

   

  59

  

   

   

  	
	KARIN JOHANSSON WINGSTRAND

	 

	Signed and delivered on behalf of

	Karin Johansson Wingstrand,

	acting by its lawfully appointed attorney

	 

	 

	/s/ Björn Carlsson

	Björn Carlsson

   

  [SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT]

   

  60

  

   

   

  	
	STAFFAN TERNSTRÖM

	 

	Signed and delivered on behalf of

	Staffan Ternström,

	acting by its lawfully appointed attorney

	 

	 

	/s/ Björn Carlsson

	Björn Carlsson

   

  [SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT]

   

  61

  

   

   

  	
	INVESTMENTAKTIEBOLAGET AKKUMULA

	 

	Signed and delivered on behalf of

	Investmentaktiebolaget Akkumula,

	acting by its lawfully appointed attorney

	 

	 

	/s/ Björn Carlsson

	Björn Carlsson

   

  [SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT]

   

  62

  

   

   

  	
	KRISTOFFER GUSTAFSSON

	 

	Signed and delivered on behalf of

	Kristoffer Gustafsson,

	acting by its lawfully appointed attorney

	 

	 

	/s/ Björn Carlsson

	Björn Carlsson

   

  [SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT]

   

  63

  

   

   

  	
	STAFFAN INGEBORN

	 

	Signed and delivered on behalf

	of Staffan Ingeborn,

	acting by its lawfully appointed attorney

	 

	 

	/s/ Björn Carlsson

	Björn Carlsson

   

  [SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT]

   

  64

  

   

   

  	
	NO HOLDING BACK AB

	 

	Signed and delivered on behalf of

	No Holding Back AB,

	acting by its lawfully appointed attorney

	 

	 

	/s/ Björn Carlsson

	Björn Carlsson

   

  [SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT]

   

  65

  

   

   

  	
	NGG ADVISORY AND INVESTMENT AB

	 

	Signed and delivered on behalf of

	NGG Advisory and Investment AB,

	acting by its lawfully appointed attorney

	 

	 

	/s/ Björn Carlsson

	Björn Carlsson

   

  [SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT]

   

  66

  

   

   

  	
	HENRIK ALBURG

	 

	Signed and delivered on behalf of

	Henrik Alburg,

	acting by its lawfully appointed attorney

	 

	 

	/s/ Björn Carlsson

	Björn Carlsson

   

  [SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT]

   

  67

  

   

   

  	
	GUSTAF JUNGNELIUS

	 

	Signed and delivered on behalf

	Gustaf Jungnelius,

	acting by its lawfully appointed attorney

	 

	 

	/s/ Björn Carlsson

	Björn Carlsson

   

  [SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT]

   

  68

  

   

   

  Schedule I

  Key Holders

  1.The Advent entities set forth on Schedule II and any of their permitted transferees.

  2.SE VII DHC AIV Feeder, L.P., SE VII DHC AIV, L.P., Spectrum VII Investment Managers’ Fund, L.P., and Spectrum VII Co-Investment Fund, L.P. collectively, and any of their Permitted Transferees.

  3.22C Capital GP I, L.L.C. 22C Capital I, L.P., 22C AIDH AIV LLC collectively, and any of their permitted transferees.

  4.Jason R. Krantz, DH Holdings LLC (fka Jason R. Krantz 2009 Trust) and any of their permitted transferees.

   

   

  69

  

   

  Schedule II

  Advent Entities

  1.Advent International GPE IX Limited Partnership

  2.Advent International GPE IX-A SCSp

  3.Advent International GPE IX-B Limited Partnership

  4.Advent International GPE IX-C Limited Partnership

  5.Advent International GPE IX-D SCSp

  6.Advent International GPE IX-E SCSp

  7.Advent International GPE IX-F Limited Partnership

  8.Advent International GPE IX-G Limited Partnership

  9.Advent International GPE IX-H Limited Partnership

  10.Advent International GPE IX-I Limited Partnership

  11.Advent Partners GPE IX Limited Partnership

  12.Advent Partners GPE IX-A Limited Partnership

  13.Advent Partners GPE IX Strategic Investors SCSP

  14.Advent Partners GPE IX-A Cayman Limited Partnership

  15.Advent Partners GPE IX-B Cayman Limited Partnership

  16.Advent Partners GPE IX Cayman Limited Partnership

  17.Advent Global Technology Limited Partnership

  18.Advent Global Technology-A SCSp

  19.Advent Global Technology-B Limited Partnership

  20.Advent Global Technology-C Limited Partnership

  21.Advent Global Technology-D Limited Partnership

  22.Advent Partners AGT Limited Partnership

  23.Advent Partners AGT Cayman Limited Partnership

  24.Advent Partners AGT-A Limited Partnership

  25.Advent Global Technology Strategic Investors Limited Partnership

  26.Sunley House Capital Master Limited Partnership

   

  70

  

   

  EXHIBIT A

  [FORM OF]

  JOINDER AGREEMENT

  THIS JOINDER AGREEMENT (this “Joinder”) is made and entered into as of [●] by the undersigned (the “New Holder”) in accordance with the terms and conditions set forth in that certain Registration Rights Agreement by and among Definitive Healthcare Corp., a Delaware corporation (including any successor, the “Company”), and the Holders party thereto, dated as of September 14, 2021 (as the same may be amended, restated or otherwise modified from time to time, the “Registration Rights Agreement”), for the benefit of, and for reliance upon by, the Company and the Holders party thereto. Capitalized terms used herein but not otherwise defined shall have the meanings given to them in the Registration Rights Agreement.

  WHEREAS, the New Holder desires to exercise certain rights granted to it under the Registration Rights Agreement; and

  WHEREAS, the execution and delivery to the Company of this Joinder by the New Holder is a condition precedent to the New Holder’s exercise of any of its rights under the Registration Rights Agreement.

  NOW, THEREFORE, in consideration of the premises and covenants herein, and for other good and valuable consideration (the receipt and sufficiency of which are hereby acknowledged), the New Holder hereby agrees as follows:

  1. Joinder. By the execution and delivery of this Joinder, the New Holder hereby agrees to become, and to be deemed to be, and shall become and be deemed to be, for all purposes under the Registration Rights Agreement, a Holder, with the same force and effect as if the New Holder had been an original signatory thereto, and the New Holder agrees to be bound by all of the terms and conditions of, and to assume all of the obligations of, a Holder under, the Registration Rights Agreement. All of the terms, provisions, representations, warranties, covenants and agreements set forth in the Registration Rights Agreement with respect to a Holder are incorporated by reference herein and shall be legally binding upon, and inure to the benefit of, the New Holder.

  2. Further Assurances. The New Holder agrees to perform any further acts and execute and deliver any additional documents and instruments that may be necessary or reasonably requested by the Company to carry out the provisions of this Joinder or the Registration Rights Agreement.

  3. Binding Effect. This Joinder and the Registration Rights Agreement shall be binding upon, and shall inure to the benefit of, the New Holder and its successors and permitted assigns, subject to the terms and provisions of the Registration Rights Agreement. It shall not be necessary in connection with the New Holder’s status as a Holder to make reference to this Joinder.

   

  71

  

   

  IN WITNESS WHEREOF, the New Holder has executed this Joinder as of the date first above written.

  			
	[NEW HOLDER]
 

	By:
	 
	 

	Name:
	 
	 

	Title: 
	 
	 

   

  	
	Address:

	 

	 

	 

	 

   

  Accepted and agreed:

  Definitive Healthcare Corp.

   

  			
	By:
	 
	 

	Name:
	 
	 

	Title: 
	 
	 

   

  72EX-10.10

   

  Exhibit 10.10

   

   

  TAX RECEIVABLE AGREEMENT

  by and among

  DEFINITIVE HEALTHCARE CORP.

  AIDH TOPCO, LLC

  the several TRA HOLDERS (as defined herein)

  and

  OTHER TRA HOLDERS

  FROM TIME TO TIME PARTY HERETO

  Dated as of September 14, 2021

   

   

   

   

  

   

  CONTENTS

  Page

  			
	Article I. DEFINITIONS
	2

	Section 1.1
	Definitions
	2

	Section 1.2
	Rules of Construction
	13

	Article II. DETERMINATION OF REALIZED TAX BENEFIT
	14

	Section 2.1
	Basis Adjustments; LLC 754 Election
	14

	Section 2.2
	Attribute Schedules
	14

	Section 2.3
	Tax Benefit Schedules
	14

	Section 2.4
	Procedures; Amendments
	15

	Article III. TAX BENEFIT PAYMENTS
	16

	Section 3.1
	Timing and Amount of Tax Benefit Payments
	16

	Section 3.2
	No Duplicative Payments
	18

	Section 3.3
	Pro-Ration of Payments as Between the TRA Holders
	18

	Section 3.4
	Excess Payments
	18

	Article IV. TERMINATION
	19

	Section 4.1
	Early Termination of Agreement; Breach of Agreement
	19

	Section 4.2
	Early Termination Notice
	20

	Section 4.3
	Payment Upon Early Termination
	21

	Article V. SUBORDINATION AND LATE PAYMENTS
	21

	Section 5.1
	Subordination
	21

	Section 5.2
	Late Payments by PubCo
	22

	Article VI. TAX MATTERS; CONSISTENCY; COOPERATION
	22

	Section 6.1
	Participation in the Corporation’s and the LLC’s Tax Matters
	22

	Section 6.2
	Consistency
	22

	Section 6.3
	Cooperation
	23

	Article VII. MISCELLANEOUS
	23

	Section 7.1
	Notices
	23

	Section 7.2
	Counterparts
	24

	Section 7.3
	Entire Agreement; No Third Party Beneficiaries
	24

	Section 7.4
	Governing Law
	25

	Section 7.5
	Severability
	25

	Section 7.6
	Assignments; Amendments; Successors; No Waiver
	25

   

  2

  

   

  			
	Section 7.7
	Titles and Subtitles
	26

	Section 7.8
	Consent to Jurisdiction; Waiver of Jury Trial
	26

	Section 7.9
	Reconciliation
	26

	Section 7.10
	Withholding
	27

	Section 7.11
	Admission of PubCo into a Consolidated Group; Transfers of Corporate Assets
	28

	Section 7.12
	Confidentiality
	29

	Section 7.13
	Change in Law
	29

	Section 7.14
	Independent Nature of Rights and Obligations
	30

	Section 7.15
	TRA Holder Representative
	30

   

  Exhibits

  Exhibit A – Form of Joinder Agreement

   

   

  3

  

   

  TAX RECEIVABLE AGREEMENT

  This TAX RECEIVABLE AGREEMENT (as the same may be amended, restated, amended and restated, supplemented or otherwise modified from time to time, this “Agreement”), dated as of September 14, 2021, is hereby entered into by and among Definitive Healthcare Corp., a Delaware corporation (including any successor corporation, “PubCo”), AIDH TopCo, LLC, a Delaware limited liability company (the “LLC”), and each of the undersigned parties, and each of the other persons from time to time that become a party hereto (each, excluding PubCo and the LLC, a “TRA Holder” and together the “TRA Holders”).

  RECITALS

  WHEREAS, the TRA Holders directly or indirectly hold limited liability company interests in the LLC (the “Units”), which is treated as a partnership for U.S. federal income tax purposes;

  WHEREAS, after the IPO (as defined below), PubCo will be the sole managing member of the LLC, and will hold Units;

  WHEREAS, each of the Blockers (as defined below) is classified as an association taxable as a corporation for U.S. federal income tax purposes;

  WHEREAS, pursuant to the Reorganization Agreement dated on or about the IPO Date (as defined below), among PubCo and the parties named therein, in connection with the IPO, among other things, (i) a separately wholly-owned, direct Subsidiary (as defined below) of PubCo will merge with and into each of the Blockers, in each case, with the respective Blocker surviving the merger and (ii) immediately thereafter, each of the Blockers, in turn, will merge with and into PubCo, with PubCo surviving the merger (such transactions together, the “Reorganization Transactions”), and as a result of such transactions, PubCo will obtain or be entitled to utilize the Blocker Attributes (as defined below);

  WHEREAS, PubCo will use the net proceeds from the IPO to (i) purchase Units from certain TRA Holders (the “Initial Sales”) and (ii) purchase newly-issued Units directly from the LLC, which proceeds will be used by the LLC to repay outstanding borrowings under the LLC’s Senior Credit Facilities (as defined in the S-1) and for general company purposes;

  WHEREAS, the LLC and each of its direct and indirect Subsidiaries treated as a partnership for U.S. federal income tax purposes currently have and will have in effect an election under Section 754 of the Code (as defined below), for each Taxable Year (as defined below) that includes the IPO Date and for each Taxable Year in which a non-taxable or taxable acquisition (including a deemed taxable acquisition under Section 707(a) of the Code) of Units by PubCo (a “Direct Exchange”) or by the LLC (a “Redemption” and together with an Initial Sale and a Direct Exchange an “Exchange”) from any of the TRA Holders (an “Exchange TRA Holder”) for Class A common stock of PubCo (“Class A Common Stock”) occurs;

  WHEREAS, as a result of an Exchange, the Corporation will be entitled to the Basis Adjustments (as defined below) relating to such Units exchanged in the Exchange;

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  WHEREAS, the income, gain, loss, expense and other Tax items of the Corporation may be affected by the Tax Attributes (as defined below); and

  WHEREAS, the parties to this Agreement desire to provide for certain payments and make certain arrangements with respect to any tax benefits to be derived by the Corporation as a result of the Tax Attributes and the making of payments under this Agreement.

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

  Article I.
DEFINITIONS

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

  “22C Blocker” means 22C AIDH TopCo Blocker L.L.C., a Delaware limited liability company.

  “22C Funds” means, individually or collectively, any investment fund, co-investment vehicles and/or similar vehicles or accounts, in each case managed by an Affiliate of 22C Capital LLC, or any of their respective successors.

  “22C TRA Holder” means any 22C Fund that is a TRA Holder.

  “22C TRA Representative” means 22C Capital LLC, or such other Person designated by the 22C TRA Holders.

  “Actual Interest Amount” is defined in Section 3.1(b)(vi) of this Agreement.

  “Actual Tax Liability” means, with respect to any Taxable Year, the sum of (i) (A) the actual liability for U.S. federal income taxes of the Corporation as reported on its IRS Form 1120 (or any successor form) for such Taxable Year or, if applicable, determined in accordance with a Determination, plus (B) without duplication, the portion of any liability for U.S. federal income taxes imposed directly on the LLC (and the LLC’s applicable subsidiaries) under Section 6225 or any similar provision of the Code that is allocable to the Corporation under Section 704 of the Code in each case using the same methods, elections, conventions and similar practices used on the relevant IRS Form 1120 (or any successor form) and (ii) the product of the amount of the U.S. federal taxable income or gain for such Taxable Year reported on the Corporation’s IRS Form 1120 (or any successor form) (or, if applicable, determined in accordance with a Determination) and the Assumed State and Local Tax Rate.

  “Advent Blocker” means AIDH Holdings, Inc., a Delaware corporation.

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  “Advent Funds” means, individually or collectively, any investment fund, co-investment vehicles and/or similar vehicles or accounts, in each case managed by an Affiliate of Advent International Corporation, or any of their respective successors.

  “Advent TRA Holder” means any Advent Fund that is a TRA Holder.

  “Advent TRA Representative” means Advent International Corporation or such other Person designated by the Advent TRA Holders.

  “Affiliate” means, with respect to any Person, any other Person that directly or indirectly, through one or more intermediaries, Controls, is Controlled by, or is under common Control with, such first Person.

  “Agreed Rate” means LIBOR plus 100 basis points.

  “Agreement” is defined in the preamble to this Agreement.

  “Amended Schedule” is defined in Section 2.4(b) of this Agreement.

  “Assumed State and Local Tax Rate” means the Tax rate equal to the sum of the products of (x) the Corporation’s income and franchise tax apportionment factor for each state and local jurisdiction in which the Corporation files income or franchise Tax Returns for the relevant Taxable Year and (y) the highest corporate income and franchise Tax rate(s) for each such state and local jurisdiction in which the Corporation files income or franchise Tax Returns for each relevant Taxable Year.  As an illustration of the calculation of the Assumed State and Local Tax Rate for a Taxable Year, if the Corporation solely files Tax Returns in State 1 and State 2 in a Taxable Year, the maximum applicable corporate Tax rates in effect in such states in such Taxable Year are 6.5% and 5.5%, respectively, and the apportionment factors for such states in such Taxable Year are 55% and 45% respectively, then the Assumed State and Local Tax Rate for such Taxable Year is equal to 6.05% (i.e., 6.5% multiplied by 55% plus 5.5% multiplied by 45%).

  “Attributable” means the portion of any Tax Attribute of the Corporation that is “Attributable” to the TRA Holders and shall be determined by reference to the Tax Attributes, under the following principles:

  (i)	any Basis Adjustments shall be determined separately with respect to each Exchange TRA Holder, using reasonable methods for tracking such Basis Adjustments, and are Attributable to each Exchange TRA Holder in an amount equal to the total Basis Adjustments relating to such Units Exchanged by such Exchange TRA Holder;

  (ii)	any Blocker Attributes shall be determined separately with respect to each Blocker, using reasonable methods for tracking such Blocker Attributes, and are Attributable to the Blocker TRA Holders of each Blocker whose Blocker Attributes carried over to the Corporation;

  (iii)	any Blocker Attributes that are Attributable to the Blocker TRA Holders of a Blocker as described above in clause (ii) shall be Attributable to each Blocker TRA 

  6

  

   

  Holder in proportion to such Blocker TRA Holder’s interest in such Blocker prior to the Reorganization Transactions; and

  (iv)	any deduction to the Corporation with respect to a Taxable Year in respect of Imputed Interest is Attributable to the TRA Holder that is required to include the Imputed Interest in income (without regard to whether such TRA Holder is actually subject to Tax thereon).

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

  “Audit Committee” means the audit committee of the Board.

  “Bankruptcy Code” is defined in Section 4.1(b) of this Agreement.

  “Basis Adjustment” means the increase or decrease to the tax basis of, or the Corporation’s share of, the tax basis of the Reference Assets (i) under Sections 734(b), 743(b) and/or 754 of the Code (in situations where, following an Exchange, the LLC remains in existence as an entity for tax purposes) and (ii) under Sections 732, 734(b) and/or 1012 of the Code (in situations where, as a result of one or more Exchanges, the LLC becomes an entity that is disregarded as separate from its owner for tax purposes), in each case, as a result of any Exchange and any payment made under this Agreement in respect of such Exchange.  Notwithstanding any other provision of this Agreement, the amount of any Basis Adjustment resulting from an Exchange of one or more Units shall be determined without regard to any Pre- Exchange Transfer of such Units and as if any such Pre-Exchange Transfer had not occurred.  The amount of any Basis Adjustment shall be determined using the Market Value at the time of the Exchange.

  “Beneficial Owner” means, with respect to any security, a Person who directly or indirectly, through any contract, arrangement, understanding, relationship or otherwise, has or shares:  (i) voting power, which includes the power to vote, or to direct the voting of, with respect to such security and/or (ii) investment power, which includes the power to dispose of, or to direct the disposition of, such security.  The terms “Beneficially Own” and “Beneficial Ownership” shall have correlative meanings.

  “Blocker Attributes” means (i) without duplication, the net operating losses, excess Section 163(j) limitation carryforwards and capital losses that the Corporation is entitled to utilize as a result of the Blockers’ participation in the Reorganization Transactions that relate to periods (or portions thereof) prior to the Reorganization Transactions and (ii) the tax basis of any Reference Asset resulting from any adjustment under Section 743(b) of the Code attributable to Units acquired by a Blocker prior to the IPO Date; provided, however, that in order to determine whether any such Tax attribute is a Blocker Attribute, the Taxable Year of the Corporation that includes the effective date of the Reorganization Transactions shall be deemed to end as of the close of such effective date.  Notwithstanding the foregoing, the term “Blocker Attributes” shall not include any tax attribute of a Blocker that is used to offset income Taxes of such Blocker, if such offset Taxes are attributable to taxable periods (or portion thereof) ending on or prior to the date of the Reorganization Transactions.

  7

  

   

  “Blocker” means each of the 22C Blocker and the Advent Blocker (collectively, the “Blockers”).

  “Blocker TRA Holders” means a Person who, prior to the Reorganization Transactions, holds equity interests of a Blocker, and as a result of the Reorganization Transactions, holds Class A Common Stock.

  “Board” means the Board of Directors of PubCo.

  “Business Day” means any day excluding Saturday, Sunday and any day that is a legal holiday under the laws of the State of New York or is a day on which banking institutions located in New York are closed.

  “Change of Control” means the occurrence of any of the following events:

  (1)	any Person or any group of Persons acting together that would constitute a “group” for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended or any successor provisions thereto (excluding (a) a corporation or other entity owned, directly or indirectly, by the stockholders of PubCo in substantially the same proportions as their ownership of stock of PubCo or (b) a group of Persons in which one or more Affiliates of Permitted Transferees, directly or indirectly hold Beneficial Ownership of securities representing more than 50% of the total voting power held by such group) is or becomes the Beneficial Owner, directly or indirectly, of securities of PubCo representing more than 50% of the combined voting power of PubCo’s then outstanding voting securities;

  (2)	the following individuals cease for any reason to constitute a majority of the number of directors of PubCo then serving:  individuals who, on the IPO Date, constitute the Board and any new director whose appointment or election by the Board or nomination for election by PubCo’s stockholders was approved or recommended by a vote of at least two-thirds (2/3) of the directors then still in office who either were directors on the IPO Date or whose appointment, election or nomination for election was previously so approved or recommended by the directors referred to in this clause (2);

  (3)	the shareholders of PubCo approve a plan of complete liquidation or dissolution of PubCo or there is consummated an agreement or series of related agreements for the sale or other disposition, directly or indirectly, by PubCo of all or substantially all of PubCo’s assets (including a sale of all or substantially all of the assets of the LLC) (which assets, for the avoidance of doubt, include the equity interests of PubCo’s Subsidiaries); or

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

  8

  

   

  power of the then outstanding voting securities of the Person resulting from such merger or consolidation or, if the surviving company is a Subsidiary, the ultimate parent thereof.

  Notwithstanding the foregoing, except with respect to clause (2) and clause (4)(x) above, a “Change of Control” shall not be deemed to have occurred by virtue of the consummation of any transaction or series of integrated transactions immediately following which the record holders of the Class A Common Stock, Class B Common Stock, preferred stock and/or any other class or classes of capital stock of PubCo (if any) immediately prior to such transaction or series of transactions continue to have substantially the same proportionate ownership in and voting control over, and own substantially all of the shares of, an entity which owns all or substantially all of the assets of PubCo immediately following such transaction or series of transactions.

  “Class A Common Stock” is defined in the recitals to this Agreement.

  “Class B Common Stock” means shares of Class B stock, par value $0.0001 per share, of PubCo.

  “Code” means the U.S. Internal Revenue Code of 1986, as amended.

  “Control” means the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a Person, whether through ownership of voting securities, by contract or other agreement.

  “Corporation” means PubCo and any company that is a member of any consolidated Tax Return of which PubCo is a member, where appropriate.

  “Covered Person” is defined in Section 7.15 of this Agreement.

  “Cumulative Net Realized Tax Benefit” is defined in Section 3.1(b)(ii) of this Agreement.

  “Default Rate” means LIBOR plus 500 basis points.

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

  “Direct Exchange” is defined in the recitals to this Agreement.

  “Dispute” is defined in Section 7.8(a) of this Agreement.

  “Early Termination Effective Date” means the date of an Early Termination Notice for purposes of determining the Early Termination Payment.

  “Early Termination Notice” is defined in Section 4.2 of this Agreement.

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

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  “Early Termination Rate” means the Agreed Rate.

  “Early Termination Reference Date” is defined in Section 4.2 of this Agreement.

  “Early Termination Schedule” is defined in Section 4.2 of this Agreement.

  “Exchange” is defined in the recitals to this Agreement.

  “Exchange Date” means the date of any Exchange.

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

  “Hypothetical Tax Liability” means, with respect to any Taxable Year, the sum of (i) (A) the liability for U.S. federal income taxes of the Corporation plus (B) without duplication, the portion of any liability for U.S. federal income taxes imposed directly on the LLC (and the LLC’s applicable subsidiaries) under Section 6225 or any similar provision of the Code that is allocable to the Corporation under Section 704 of the Code, in each case using the same methods, elections, conventions and similar practices used on the relevant IRS Form 1120 (or any successor form) or, if applicable, determined in accordance with a Determination, and (ii) the product of the U.S. federal Taxable income for such Taxable Year reported on the Corporation’s IRS Form 1120 (or any successor form) (or, if applicable, determined in accordance with a Determination) and the Assumed State and Local Tax Rate, but, in the determination of the liability in clauses (i) and (ii), above, (a) calculating depreciation, amortization, or other similar deductions, or otherwise calculating any items of income, gain, or loss, using the Corporation’s share of the Non-Adjusted Tax Basis as reflected on the Attribute Schedule, including amendments thereto for the Taxable Year, (b) excluding the effect of any and all Blocker Attributes for the Taxable Year and (c) excluding any deduction attributable to Imputed Interest for the Taxable Year.  For the avoidance of doubt, (i) the Hypothetical Tax Liability shall be determined without taking into account the carryover or carryback of any Tax item attributable to Imputed Interest, Blocker Attributes or a Basis Adjustment (or portions thereof); and (ii) the calculation of the Hypothetical Tax Liability shall take into account the federal benefit received by the Corporation with respect to state and local jurisdiction income Taxes (with such benefit taking into account the Corporation’s marginal U.S. federal income tax rate for the relevant Taxable Year, the Assumed State and Local Tax Rate, and the deductibility, if any, of state and local jurisdiction income Taxes).

  “Imputed Interest” is defined in Section 3.1(b)(v) of this Agreement.

  “IPO” means the initial public offering of Class A Common Stock by PubCo (including any greenshoe related to such initial public offering).

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

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

  “Joinder” means a joinder to this Agreement, in form and substance substantially similar to Exhibit A to this Agreement.

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  “Joinder Requirement” is defined in Section 7.6(a) of this Agreement.

  “Krantz” means Jason Krantz, DH Holdings, LLC and their Permitted Transferees.

  “LIBOR” means during any period, the rate which appears on the Bloomberg Page BBAM1 (or on such other substitute Bloomberg page that displays rates at which U.S. dollar deposits are offered by leading banks in the London interbank deposit market or such other commercially available source providing quotations of such rates as may be designated by PubCo from time to time), or the rate which is quoted by another source selected by PubCo as an authorized information vendor for the purpose of displaying rates at which U.S. dollar deposits are offered by leading banks in the London interbank deposit market (an “Alternate Source”), at approximately 11:00 a.m., London time, two (2) Business Days prior to the first day of such period as the London interbank offered rate for U.S. dollars having a borrowing date and a maturity comparable to such period; provided, that at no time shall LIBOR be less than 0%.  If PubCo has made the determination (such determination to be conclusive absent manifest error) that (i) LIBOR is no longer a widely recognized benchmark rate for newly originated loans in the U.S. loan market in U.S. dollars or (ii) the applicable supervisor or administrator (if any) of LIBOR has made a public statement identifying a specific date after which LIBOR shall no longer be used for determining interest rates for loans in the U.S. loan market in U.S. dollars, then PubCo shall (as determined by PubCo to be consistent with any secured Senior Obligations and market practice generally), establish a replacement interest rate (the “Replacement Rate”), in which case, the Replacement Rate shall, subject to the next two sentences, replace LIBOR for all purposes under this Agreement.  In connection with the establishment and application of the Replacement Rate, this Agreement shall be amended solely with the consent of PubCo and the LLC, as may be necessary or appropriate, in the reasonable judgment of PubCo, to effect the provisions of this section.  The Replacement Rate shall be applied in a manner consistent with market practice; provided, that in each case, to the extent such market practice is not administratively feasible for PubCo, such Replacement Rate shall be applied as otherwise reasonably determined by PubCo.

  “LLC” is defined in the preamble to this Agreement.

  “LLC Agreement” means that certain Second Amended and Restated Limited Liability Company Agreement of the LLC, dated as of the date hereof, as such agreement may be further amended, restated, supplemented and/or otherwise modified from time to time.

  “LLC Group” means (i) the LLC, (ii) any direct or indirect Subsidiary (owned through a chain of pass-through entities) of the LLC that is treated as a partnership for U.S. federal income tax purposes and (iii) any direct or indirect Subsidiary (owned through a chain of pass-through entities) of the LLC that is treated as a disregarded entity for U.S. federal income tax purposes.

  “Management TRA Holders” means the TRA Holders other than the Advent Funds, 22C Funds, and Spectrum Funds.

  “Management TRA Representative” means Jason Krantz or such other person designated by Krantz as long as he holds an interest in the LLC or is entitled to payments under this Agreement and thereafter, that TRA Holder or committee of TRA Holders determined from time 

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  to time by a plurality vote of the Management TRA Holders ratably in accordance with their right to receive Early Termination Payments hereunder as if all TRA Holders had fully Exchanged their Units for Class A Common Stock and PubCo had exercised its right of early termination on the date of the most recent Exchange.

  “Market Value” means the closing price of the Class A Common Stock on the applicable Exchange Date on the national securities exchange or interdealer quotation system on which such Class A Common Stock is then traded or listed, as reported by the Wall Street Journal; provided, that if the closing price is not reported by the Wall Street Journal for the applicable Exchange Date, then the Market Value shall mean the closing price of the Class A Common Stock on the Business Day immediately preceding such Exchange Date on the national securities exchange or interdealer quotation system on which such Class A Common Stock is then traded or listed, as reported. by the Wall Street Journal; provided, further, that if the Class A Common Stock is not then listed on a national securities exchange or interdealer quotation system, “Market Value” shall mean the cash consideration paid for Class A Common Stock, or the fair market value of the other property delivered for Class A Common Stock, as determined by the Board in good faith.  Notwithstanding anything to the contrary in the above sentence, to the extent property is exchanged for cash in a transaction, the Market Value shall be determined by reference to the amount of cash transferred in such transaction.

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

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

  “Objection Notice” is defined in Section 2.4(a)(i) of this Agreement.

  “Parties” means the parties named on the signature pages to this agreement and each additional party that satisfies the Joinder Requirement, in each case with their respective successors and assigns.

  “Permitted Transfer” means the transfer of Units by a holder of Units to any transferee as permitted by the LLC Agreement.

  “Permitted Transferee” means a holder of Units pursuant to a Permitted Transfer.

  “Person” means any individual, corporation, firm, partnership, joint venture, limited liability company, estate, trust, business association, organization, governmental entity or other entity.

  “Pre-Exchange Transfer” means any transfer (including upon the death of a TRA Holder) in respect of one or more Units (i) that occurs prior to an Exchange of such Units and (ii) to which Section 743(b) of the Code applies.

  “PubCo” is defined in the preamble to this Agreement.

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

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  “Realized Tax Detriment” is defined in Section 3.1(b)(iv) of this Agreement.

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

  “Reconciliation Procedures” is defined in Section 2.4(a) of this Agreement.

  “Redemption” is defined in the recitals to this Agreement.

  “Reference Asset” means any tangible or intangible asset of any member of the LLC Group or any of their respective successors or assigns, at the time of the Reorganization Transactions or an Exchange, as applicable.  A Reference Asset also includes any asset the tax basis of which is determined, in whole or in part, by reference to the tax basis of an asset that is described in the preceding sentence, including “substituted basis property” within the meaning of Section 7701(a)(42) of the Code.

  “Reorganization Transactions” is defined in the recitals to this Agreement.

  “S-1” means the Form S-1 publicly filed by Definitive Healthcare Corp. on August 20, 2021, and any amendments thereof.

  “Schedule” means any of the following:  (i) an Attribute Schedule, (ii) a Tax Benefit Schedule, or (iii) the Early Termination Schedule, and, in each case, any amendments thereto.

  “Section 734(b) Exchange” means any Exchange that results in a Basis Adjustment under Section 734(b) of the Code.

  “Senior Obligations” is defined in Section 5.1 of this Agreement.

  “Spectrum Fund” means, individually or collectively, any investment fund, co-investment vehicles and/or similar vehicles or accounts, in each case managed by an Affiliate of Spectrum Equity Management, L.P., or any of their respective successors.

  “Spectrum TRA Holder” means any Spectrum Fund that is a TRA Holder.

  “Spectrum TRA Representative” means Spectrum Equity Management, L.P., or such other Person designated by the Spectrum TRA Holders.

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

  “Subsidiary Stock” means any stock or other equity interest in any Subsidiary of PubCo that is treated as a corporation for U.S. federal income tax purposes.

  “Taxes” means any and all U.S. federal, state, local and foreign taxes, assessments or similar charges that are based on or measured with respect to net income or profits, and any interest related to such Tax.

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  “Tax Attributes” means the (i) Blocker Attributes, (ii) Basis Adjustments and (iii) Imputed Interest; provided that it is intended that the provisions of this Agreement will not result in duplication among the respective Tax Attributes, and the definitions of each such Tax Attribute shall be consistently interpreted and applied in accordance with that intent.  For the avoidance of doubt, Tax Attributes shall include any net operating loss carryforwards or similar attributes that are attributable to the Tax items described in clauses (i) through (iii) of the preceding sentence.

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

  “Tax Benefit Schedule” is defined in Section 2.3(a) of this Agreement.

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

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

  “Taxing Authority” means any national, federal, state, county, municipal, or local government, or any subdivision, agency, commission or authority thereof, or any quasi- governmental body, or any other authority of any kind, exercising regulatory or other authority in relation to Tax matters.

  “Termination Objection Notice” is defined in Section 4.2 of this Agreement.

  “TRA Holders” is defined in the preamble to this Agreement.

  “TRA Holder Representative” means:

  (a)	with respect to each 22C Fund, the 22C TRA Representative;

  (b)	with respect to each Advent Fund, the Advent TRA Representative;

  (c)	with respect to each Spectrum Fund, the Spectrum TRA Representative; and

  (d)	with respect to all other TRA Holders, the Management TRA Representative. “Treasury Regulations” means the final, temporary, and (to the extent they can be relied upon) proposed regulations under the Code, as promulgated from time to time (including corresponding provisions and succeeding provisions) as in effect for the relevant taxable period.

  “U.S.”  means the United States of America.

  “Units” is defined in the recitals to this Agreement.

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  “Valuation Assumptions” means, as of an Early Termination Effective Date, the assumptions that in each Taxable Year ending on or after such Early Termination Effective Date:

  (1)	the Corporation will have taxable income sufficient to fully utilize the Tax items arising from the Tax Attributes (other than any items addressed in clause (4) below) during such Taxable Year or future Taxable Years (including, for the avoidance of doubt, Basis Adjustments and Imputed Interest that would result from future payments made under this Agreement that would be paid in accordance with the Valuation Assumptions) in which such deductions would become available;

  (2)	the U.S. federal income tax rates that will be in effect for each such Taxable Year will be those specified for each such Taxable Year by the Code and other law as in effect on the Early Termination Effective Date, and the Assumed State and Local Tax Rate will be calculated based on such rates and the apportionment factor applicable for the Taxable Year that includes the Early Termination Effective Date, in each case, except to the extent any change to such Tax rates for such Taxable Year have already been enacted into law;

  (3)	all taxable income of the Corporation will be subject to the maximum applicable U.S. federal income tax rates throughout the relevant period;

  (4)	any Blocker Attributes described in clause (i) of the definition thereof, and any loss carryovers generated by deductions arising from any Tax Attributes or Imputed Interest that are available as of the date of such Early Termination Effective Date will be used by the Corporation on a pro rata basis from the date of such Early Termination Effective Date through the earlier of (x) the scheduled expiration date under applicable Tax law of such loss carryovers or (y) the fifth (5th) anniversary of the Early Termination Effective Date; provided, that any such loss carryovers or Blocker Attributes whose use by the Corporation would be limited by the Code (e.g., under Section 382 or 383 of the Code) or Treasury Regulations (other than any limitation resulting from a Change in Control) shall not be treated as used by the Corporation earlier than would be permitted thereunder;

  (5)	any non-amortizable assets (other than Subsidiary Stock) will be disposed of on the earlier of (i) the fifteenth anniversary of the applicable Basis Adjustment (or, if such Basis Adjustment occurred more than fifteen years before the Early Termination Effective Date, the Early Termination Effective Date), and (ii) in the case of any Blocker Attributes described in clause (ii) of the definition thereof, the fifteenth anniversary of the IPO Date (or, if the IPO Date is more than fifteen years before the Early Termination Effective Date, the Early Termination Effective Date; provided that in the event of a Change of Control that includes the sale of any such non-amortizable asset in the Change of Control (or the sale of all of the equity interests in a partnership or disregarded entity for U.S. federal income tax purposes that directly or indirectly owns such non- amortizable asset), such non-amortizable asset shall be deemed disposed of at the time of the sale of the relevant asset in such Change of Control (if earlier than such fifteenth anniversary);

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  (6)	any Subsidiary Stock will be deemed never to be disposed of except if such Subsidiary Stock is directly disposed of in the Change of Control; and

  (7)	if, on the Early Termination Effective Date, there are Units that have not been Exchanged, then such Units shall be deemed to be Exchanged for the Market Value of the Class A Common Stock and the amount of cash that would be transferred if the Exchange occurred on the Early Termination Effective Date; and

  (8)	any payment obligations pursuant to this Agreement will be satisfied on the date that any Tax Return to which such payment obligation relates is required to be filed excluding any extensions.

  Section 1.2	Rules of Construction.  Unless otherwise specified herein:

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

  (b)	For purposes of interpretation of this Agreement:

  (i)	The words “herein,” “hereto,” “hereof” and “hereunder” and words of similar import when used in this Agreement shall refer to this Agreement as a whole and not to any particular provision thereof.

  (ii)	References in this Agreement to a Schedule, Article, Section, clause or sub-clause refer to the appropriate Schedule to, or Article, Section, clause or subclause in, this Agreement.

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

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

  (v)	The term “documents” includes any and all instruments, documents, agreements, certificates, notices, reports, financial statements and other writings, however evidenced, whether in physical or electronic form.

  (c)	In the computation of periods of time from a specified date to a later specified date, the word “from” means “from and including;” the words “to” and “until” each mean “to but excluding;” and the word “through” means “to and including.”

  (d)	Section headings herein are included for convenience of reference only and shall not affect the interpretation of this Agreement.

  (e)	Unless otherwise expressly provided herein, (a) references to organization documents (including the LLC Agreement), agreements (including this Agreement) and other contractual instruments shall be deemed to include all subsequent amendments, restatements, extensions, supplements and other modifications thereto, but only to the extent that such amendments, restatements, extensions, supplements and other modifications are permitted hereby; and (b) references to any law (including the Code and the Treasury Regulations) shall include all 

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  statutory and regulatory provisions consolidating, amending, replacing, supplementing or interpreting such law.

  Article II.
DETERMINATION OF REALIZED TAX BENEFIT

  Section 2.1	Basis Adjustments; LLC 754 Election.

  (a)	Basis Adjustments.  The Parties acknowledge and agree that (A) the Initial Sales and each Direct Exchange shall give rise to Basis Adjustments and (B) each Redemption using Class A Common Stock contributed to the LLC by PubCo shall be treated as a direct purchase of Units by PubCo from the applicable TRA Holder pursuant to Section 707(a)(2)(B) of the Code that shall give rise to Basis Adjustments.  For the avoidance of doubt, payments made under this Agreement shall not be treated as resulting in a Basis Adjustment to the extent that such payments are treated as deductible interest for U.S. federal income tax purposes or as other than consideration for Units for U.S. federal income tax purposes.

  (b)	Section 754 Election.  PubCo shall cause the LLC and each of its Subsidiaries that is treated as a partnership for U.S. federal income tax purposes to have in effect an election under Section 754 of the Code and any similar provisions of U.S. state or local tax law for each Taxable Year.

  Section 2.2	Attribute Schedules.  Within one hundred and twenty (120) calendar days after the due date (including extensions) of the U.S. federal income Tax Return of the Corporation for each relevant Taxable Year, PubCo shall deliver to the applicable TRA Holder Representative, a schedule (the “Attribute Schedule”) that shows, in reasonable detail as necessary in order to understand the calculations performed under this Agreement:  (a) the Basis Adjustments with respect to the Reference Assets in respect of each applicable TRA Holder as a result of the relevant Exchanges effected in such Taxable Year or any prior Taxable Year by such TRA Holder, if any, calculated in the aggregate; (b) the period (or periods) over which the Basis Adjustments with respect to the Reference Assets in respect of such TRA Holder are amortizable and/or depreciable and (c) the amount of Blocker Attributes available to the Corporation in such Taxable Year in respect of each applicable TRA Holder and the period (or periods) over which such Blocker Attributes are usable.  The Attribute Schedule shall also list any limitations on the ability of the Corporation to utilize any Tax Attributes under applicable laws (including as a result of the operation of Section 382 of the Code or Section 383 of the Code).  The Attribute Schedule will become final and binding pursuant to the procedures set forth in Section 2.4(a) and may be amended pursuant to the procedures set forth in Section 2.4(b).

  Section 2.3	Tax Benefit Schedules.

  (a)	Tax Benefit Schedule.  Within one hundred and twenty (120) calendar days after the due date (including extensions) of the U.S. federal income Tax Return of the Corporation for any Taxable Year in which there is a Realized Tax Benefit or Realized Tax Detriment Attributable to a TRA Holder, PubCo shall provide to the applicable TRA Holder Representative a schedule showing, in reasonable detail, the calculation of the Realized Tax Benefit or Realized Tax Detriment for such Taxable Year for such TRA Holder (a “Tax Benefit Schedule”).  Each Tax 

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  Benefit Schedule will become final and binding pursuant to the procedures set forth in Section 2.4(a), and may be amended pursuant to the procedures set forth in Section 2.4(b).

  (b)	Applicable Principles.

  (i)	General.  Subject to Section 3.3, the Realized Tax Benefit (or the Realized Tax Detriment) for each Taxable Year is intended to measure the decrease (or increase) in the actual liability for Taxes of the Corporation for such Taxable Year attributable to the Tax Attributes, determined using a “with and without” methodology.  Carryovers or carrybacks of any Tax item attributable to any of the Tax Attributes shall be considered to be subject to the rules of the Code and the Treasury Regulations governing the use, limitation and expiration of carryovers or carrybacks of the relevant type.  If a carryover or carryback of any Tax item includes a portion that is attributable to any Tax Attribute and another portion that is not, such portions shall be considered to be used in accordance with the “with and without” methodology.  The parties agree that (A) all Tax Benefit Payments (other than Imputed Interest thereon) attributable to Blocker Attributes will be treated as non-qualifying property or money received in connection with the Blocker Mergers for purposes of Section 356 of the Code, (B) all Tax Benefit Payments (other than Imputed Interest thereon) attributable to Basis Adjustments will be treated as subsequent upward purchase price adjustments with respect to the Units exchanged in the applicable Exchange that have the effect of creating additional Basis Adjustments to Reference Assets for the Corporation in the year of payment, (C) as a result, any additional Basis Adjustments will be incorporated into the current year calculation and into future year calculations, as appropriate, and (D) the Actual Tax Liability will take into account the deduction of the portion of the Tax Benefit Payment that must be accounted for as Imputed Interest.

  (ii)	Applicable Principles of Section 734(b) Exchanges.  Notwithstanding any provisions to the contrary in this Agreement, the foregoing treatment set out in clause (B) of the final sentence of Section 2.3(b)(i) shall not be required to apply to payments hereunder to a TRA Holder in respect of a Section 734(b) Exchange by such Exchange TRA Holder.

  Section 2.4	Procedures; Amendments.

  (a)	Procedures.  Each time PubCo delivers an applicable Schedule to the TRA Holder Representatives under this Agreement, including any Amended Schedule, PubCo shall also:  (x) deliver supporting schedules and work papers reasonably requested by a TRA Holder Representative that are reasonably necessary in order to understand the calculations that were relevant for purposes of preparing the Schedule; and (y) allow the TRA Holder Representatives and their advisors to have reasonable access to the appropriate representatives, as determined by PubCo or as reasonably requested by a TRA Holder Representative, at PubCo in connection with a review of such Schedule.  Without limiting the generality of the preceding sentence, PubCo shall ensure that any Tax Benefit Schedule that is delivered to the TRA Holder Representatives provides a reasonably detailed presentation of the calculation of the Actual Tax Liability (the “with” calculation) and the Hypothetical Tax Liability of the Corporation (the “without” calculation), and identifies any material assumptions or operating procedures or principles that were used for purposes of such calculations.  An applicable Schedule or amendment thereto shall become final and binding on the Parties thirty (30) calendar days from the date on which the 

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  TRA Holder Representatives first received the applicable Schedule or amendment thereto unless any TRA Holder Representative:

  (i)	within thirty (30) calendar days after receiving the applicable Schedule or amendment thereto, provides PubCo with written notice of a material objection to such Schedule that is made in good faith and that sets forth in reasonable detail the TRA Holder Representative’s material objection (an “Objection Notice”) or

  (ii)	provides a written waiver of its right to deliver an Objection Notice within the time period described in clause (i) above, in which case such Schedule or amendment thereto becomes binding on the date the waiver from the TRA Holder Representatives is received by PubCo.

  If PubCo and the relevant TRA Holder Representative, for any reason, are unable to successfully resolve the issues raised in the Objection Notice within thirty (30) calendar days after receipt by PubCo of the Objection Notice, PubCo and the relevant TRA Holder Representative shall employ the reconciliation procedures as described in Section 7.9 of this Agreement (the “Reconciliation Procedures”).

  (b)	Amended Schedule.  The applicable Schedule for any Taxable Year shall be amended from time to time by PubCo:  (i) in connection with a Determination affecting such Schedule; (ii) to correct material inaccuracies in the Schedule identified as a result of the receipt of additional factual information relating to a Taxable Year after the date the Schedule was originally provided to the TRA Holder Representatives; (iii) to comply with an Expert’s determination under the Reconciliation Procedures applicable to this Agreement; (iv) to reflect a change in the Realized Tax Benefit or Realized Tax Detriment for such Taxable Year attributable to a carryback or carryforward of a loss or other Tax item to such Taxable Year; (v) to reflect a change in the Realized Tax Benefit or Realized Tax Detriment for such Taxable Year attributable to an amended Tax Return filed for such Taxable Year; or (vi) to adjust an Attribute Schedule to take into account any Tax Benefit Payments made pursuant to this Agreement (any such Schedule, an “Amended Schedule”).  PubCo shall provide an Amended Schedule to each TRA Holder Representative when PubCo delivers the Attribute Schedule for the following Taxable Year.

  Article III.
TAX BENEFIT PAYMENTS

  Section 3.1	Timing and Amount of Tax Benefit Payments.

  (a)	Timing of Payments.  Within five (5) calendar days following the date on which each Tax Benefit Schedule that is required to be delivered by PubCo to the TRA Holder Representatives pursuant to Section 2.3(a) of this Agreement becomes final in accordance with Section 2.4(a) of this Agreement, PubCo shall pay to each relevant TRA Holder the Tax Benefit Payment as determined pursuant to Section 3.1(b).  Each such Tax Benefit Payment shall be made by wire transfer of immediately available funds to the bank account previously designated by such TRA Holder or as otherwise agreed by PubCo and such TRA Holder.  For the avoidance of doubt, the TRA Holders shall not be required under any circumstances to return any portion of any Tax Benefit Payment previously paid by PubCo to the TRA Holders (including any portion of any Early Termination Payment).  For purposes of this Agreement, and also for the avoidance of doubt, (x) no Tax Benefit Payment shall be required to be calculated or made in respect of any 

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  estimated Tax payments, including, without limitation, any estimated U.S. federal income tax payments and (y) the payments provided for pursuant to this Section 3.1(a) shall be computed separately for each TRA Holder.

  (b)	Amount of Payments.  For purposes of this Agreement, a “Tax Benefit Payment” with respect to any TRA Holder for a Taxable Year means an amount, not less than zero, equal to the sum of:  (i) the portion of the Net Tax Benefit that is Attributable to such TRA Holder; and (ii) the Actual Interest Amount with respect to the Net Tax Benefit described in (i).

  (i)	Net Tax Benefit.  The “Net Tax Benefit” for a Taxable Year equals the amount of the excess, if any, of (x) 85% of the Cumulative Net Realized Tax Benefit as of the end of such Taxable Year over (y) the aggregate amount of all Tax Benefit Payments previously made under this Section 3.1 (excluding payments of Actual Interest Amounts).  For the avoidance of doubt, if the Cumulative Net Realized Tax Benefit as of the end of any Taxable Year is less than the aggregate amount of all Tax Benefit Payments previously made, no TRA Holder shall be required to return any portion of any Tax Benefit Payment previously made by PubCo to such TRA Holder.

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

  (iii)	Realized Tax Benefit.  The “Realized Tax Benefit” for a Taxable Year equals the excess, if any, of the Hypothetical Tax Liability over the Actual Tax Liability for such Taxable Year.  If all or a portion of the Actual Tax Liability arises as a result of an audit by a Taxing Authority of any Taxable Year, such liability (and any corresponding adjustments to the Hypothetical Tax Liability) shall not be included in determining the Realized Tax Benefit unless and until there has been a Determination.

  (iv)	Realized Tax Detriment.  The “Realized Tax Detriment” for a Taxable Year equals the excess, if any, of the Actual Tax Liability over the Hypothetical Tax Liability for such Taxable Year.  If all or a portion of the Actual Tax Liability arises as a result of an audit by a Taxing Authority of any Taxable Year, such liability (and any corresponding adjustments to the Hypothetical Tax Liability) shall not be included in determining the Realized Tax Detriment unless and until there has been a Determination.

  (v)	Imputed Interest.  The parties acknowledge that the principles of Sections 1272, 1274, or 483 of the Code, as applicable, will apply to cause a portion of any Net Tax Benefit payable by PubCo to a TRA Holder under this Agreement to be treated as imputed interest (“Imputed Interest”).  For the avoidance of doubt, the deduction for the amount of Imputed Interest as determined with respect to any Net Tax Benefit payable by PubCo to a TRA Holder shall be excluded in determining the Hypothetical Tax Liability for purposes of calculating Realized Tax Benefits and Realized Tax Detriments pursuant to this Agreement.

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  (vi)	Actual Interest Amount.  The “Actual Interest Amount” calculated in respect of the Net Tax Benefit for a Taxable Year, will equal an amount equal to interest calculated at the Agreed Rate from the due date (without extensions) for filing the U.S. federal income Tax Return of the Corporation for such Taxable Year until the date on which PubCo makes a timely Tax Benefit Payment to the TRA Holder.  For the avoidance of doubt, for Tax purposes, the Actual Interest Amount shall not be treated as interest, but instead, shall be treated as additional consideration in the applicable transaction, unless otherwise required by law.

  (vii)	PubCo and the TRA Holders hereby acknowledge and agree that, as of the date of this Agreement and as of the date of any future Exchange that may be subject to this Agreement, the aggregate value of the Tax Benefit Payments cannot be reasonably ascertained for U.S. federal income or other applicable Tax purposes.  Notwithstanding anything to the contrary in this Agreement, (i) unless the applicable Exchange TRA Holder notifies PubCo in writing otherwise (including by providing an alternative maximum), the aggregate Payments to an Exchange TRA Holder under this Agreement (other than amounts accounted for as interest under the Code) shall not exceed, with respect to any Exchange, 50% of the initial Basis Adjustment arising from such Exchange and (ii) with respect to the Reorganization Transactions, a Blocker TRA Holder may notify Pubco in writing of a maximum amount of aggregate Payments to such TRA Holder under this Agreement (other than amounts accounted for as interest under the Code) in respect thereof.

  Section 3.2	No Duplicative Payments.  It is intended that the provisions of this Agreement will not result in the duplicative payment of any amount (including interest) that may be required under this Agreement, and the provisions of this Agreement shall be consistently interpreted and applied in accordance with that intent.

  Section 3.3	Pro-Ration of Payments as Between the TRA Holders.

  (a)	Insufficient Taxable Income.  Notwithstanding anything in Section 3.1(b) to the contrary, to the extent that the aggregate Realized Tax Benefit of the Corporation with respect to the Tax Attributes is limited in a particular Taxable Year because the Corporation does not have sufficient taxable income, then the available Net Tax Benefit for the Corporation shall be allocated among the TRA Holders in proportion to the respective Tax Benefit Payment that would have been payable if the Corporation had in fact had sufficient taxable income so that there had been no such limitation.

  (b)	Late Payments.  If for any reason PubCo is not able to timely and fully satisfy its payment obligations under this Agreement in respect of a particular Taxable Year, then interest will begin to accrue at the Default Rate pursuant to Section 5.2 and PubCo and other Parties agree that (i) PubCo shall pay the Tax Benefit Payments due in respect of such Taxable Year to each TRA Holder pro rata in proportion to the amount of such Tax Benefit Payments, without favoring one obligation over the other, and (ii) no Tax Benefit Payment shall be made in respect of any Taxable Year until all Tax Benefit Payments to all TRA Holders in respect of all prior Taxable Years have been made in full.

  Section 3.4	Excess Payments.  To the extent PubCo makes a payment to a TRA Holder in respect of a particular Taxable Year under Section 3.1(a) of this Agreement (taking into account Section 3.3) in an amount in excess of the amount of such payment that should have been made 

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  to such TRA Holder in respect of such Taxable Year, then (i) such TRA Holder shall not receive further payments under Section 3.1(a) until such TRA Holder has foregone an amount of payments equal to such excess and (ii) PubCo will pay the amount of such TRA Holder’s foregone payments to the other Persons to whom a payment is due under this Agreement in a manner such that each such Person to whom a payment is due under this Agreement, to the maximum extent possible, receives aggregate payments under Section 3.1(a) (taking into account Section 3.3) in the amount it would have received if there had been no excess payment to such TRA Holder.

  Article IV.
TERMINATION

  Section 4.1	Early Termination of Agreement; Breach of Agreement.

  (a)	Corporation’s Early Termination Right.  PubCo may terminate this Agreement, as and to the extent provided herein, with respect to all amounts payable to the TRA Holders pursuant to this Agreement by paying to the TRA Holders the Early Termination Payment; provided that Early Termination Payments may be made pursuant to this Section 4.1(a) only if made simultaneously to all TRA Holders that are entitled to such a payment, and provided further, that PubCo may withdraw any notice to execute its termination rights under this Section 4.1(a) prior to the time at which any Early Termination Payment has been paid.  Upon PubCo’s payment of the Early Termination Payment, PubCo shall not have any further payment obligations under this Agreement, other than with respect to any:  (i) prior Tax Benefit Payments that are due and payable under this Agreement but that still remain unpaid as of the date of the Early Termination Notice; and (ii) current Tax Benefit Payment due for the Taxable Year ending on or including the date of the Early Termination Notice (except to the extent that the amount described in clause (ii) is included in the calculation of the Early Termination Payment).  If an Exchange occurs after PubCo makes all of the required Early Termination Payments, PubCo shall have no obligations under this Agreement with respect to such Exchange.

  (b)	Acceleration Upon Breach of Agreement.  In the event that PubCo (1) breaches any of its material obligations under this Agreement, whether as a result of failure to make any payment when due, failure to honor any other material obligation required hereunder or by operation of law as a result of the rejection of this Agreement in a case commenced under Title 11 of the United States Code (11 U.S.C. § 101 et seq.)  (the “Bankruptcy Code”) or otherwise or (2)(A) shall commence any case, proceeding or other action (i) under any existing or future law of any jurisdiction, domestic or foreign, relating to bankruptcy, insolvency, reorganization or relief of debtors, seeking to have an order for relief entered with respect to it, or seeking to adjudicate a bankruptcy or insolvency, or seeking reorganization, arrangement, adjustment, winding-up, liquidation, dissolution, composition or other relief with respect to it or its debts or (ii) seeking an appointment of a receiver, trustee, custodian, conservator or other similar official for it or for all or any substantial part of its assets, or it shall make a general assignment for the benefit of creditors or (B) there shall be commenced against the Corporation any case, proceeding or other action of the nature referred to in clause (A) above that remains undismissed or undischarged for a period of sixty (60) calendar days, all obligations hereunder shall be automatically accelerated and shall be immediately due and payable, and such obligations shall be calculated as if an Early Termination Notice had been delivered on the date of such breach and shall include, but not be 

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  limited to, (1) the Early Termination Payment calculated as if an Early Termination Notice had been delivered on the date of such breach, (2) any Tax Benefit Payment due and payable and that remains unpaid as of the date of such breach, and (3) any Tax Benefit Payment in respect of any TRA Holder due for the Taxable Year ending with or including the date of such breach; provided that procedures similar to the procedures of Section 4.2 shall apply with respect to the determination of the amount payable by PubCo pursuant to this sentence.  Notwithstanding the foregoing, in the event that PubCo breaches this Agreement, to the fullest extent permitted by applicable law, each TRA Holder shall be entitled to elect to receive the amounts set forth in clauses (1), (2) and (3) above or to seek specific performance of the terms hereof.  The parties agree that the failure to make any payment due pursuant to this Agreement within three (3) months of the date such payment is due shall be deemed to be a breach of a material obligation under this Agreement for all purposes of this Agreement, and that it will not be considered to be a breach of a material obligation under this Agreement to make a payment due pursuant to this Agreement within three (3) months of the date such payment is due.  Notwithstanding anything in this Agreement to the contrary, it shall not be a breach of a material obligation of this Agreement if PubCo fails to make any Tax Benefit Payment when due to the extent that PubCo has insufficient funds to make such payment; provided, (i) PubCo has used reasonable efforts to obtain such funds and (ii) that the interest provisions of Section 5.2 shall apply to such late payment.

  (c)	Change of Control.  In the event of a Change of Control, unless otherwise agreed in writing with the 22C TRA Representative with respect to the 22C Funds, the Advent TRA Representative with respect to the Advent Funds, the Spectrum TRA Representative with respect to the Spectrum Funds, and/or the Management TRA Representative with respect to all other TRA Holders, all obligations of PubCo hereunder with respect to the TRA Holders shall be accelerated and such obligations shall be calculated pursuant to this Article IV as if an Early Termination Notice had been delivered on the closing date of the Change of Control and utilizing the Valuation Assumptions by substituting the phrase “the closing date of a Change of Control” in each place where the phrase “Early Termination Effective Date” appears.  Such obligations shall include, but not be limited to, (1) the Early Termination Payment calculated as if an Early Termination Notice had been delivered on the closing date of the Change of Control, (2) any Tax Benefit Payments due and payable and that remains unpaid as of the date of the Change of Control and (3) any Tax Benefit Payments due for any Taxable Year ending prior to, with or including the closing date of a Change of Control (except to the extent that any amounts described in clauses (2) or (3) are included in the Early Termination Payment).  For the avoidance of doubt, Sections 4.2 and 4.3 shall apply to a Change of Control, mutatis mutandis.

  Section 4.2	Early Termination Notice.  If PubCo chooses to exercise its right of early termination under Section 4.1 above, PubCo shall deliver to the TRA Holder Representatives a notice of PubCo’s decision to exercise such right (an “Early Termination Notice”) specifying PubCo’s intention to exercise such right.  Upon delivery of the Early Termination Notice or the occurrence of an event described in Section 4.1(b) or (c), PubCo shall deliver a schedule (the “Early Termination Schedule”) showing in reasonable detail the calculation of the Early Termination Payment(s) due for each TRA Holder.  The Early Termination Schedule shall become final and binding on each Party thirty (30) calendar days from the first date on which the TRA Holder Representatives received such Early Termination Schedule unless any TRA Holder Representative:

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  (i)	within thirty (30) calendar days after receiving the Early Termination Schedule, provides PubCo with notice of a material objection to such Early Termination Schedule made in good faith and setting forth in reasonable detail the TRA Holder Representative’s material objection (a “Termination Objection Notice”); or

  (ii)	provides a written waiver of such right of a Termination Objection Notice within the period described in clause (i) above, in which case such Early Termination Schedule becomes binding on the date the waiver from the TRA Holder Representative is received by PubCo.

  If PubCo and the relevant TRA Holder Representative, for any reason, are unable to successfully resolve the issues raised in the Termination Objection Notice within thirty (30) calendar days after receipt by PubCo of the Termination Objection Notice, PubCo and the relevant TRA Holder Representative shall employ the Reconciliation Procedures.  The date on which the Early Termination Schedule becomes final in accordance with this Section 4.2 shall be the “Early Termination Reference Date.”

  Section 4.3	Payment Upon Early Termination.

  (a)	Timing of Payment.  Within three (3) Business Days after the Early Termination Reference Date, PubCo shall pay to each TRA Holder an amount equal to the Early Termination Payment for such TRA Holder.  Such Early Termination Payment shall be made by PubCo by wire transfer of immediately available funds to a bank account or accounts designated by such TRA Holder or as otherwise agreed by PubCo and such TRA Holder.

  (b)	Amount of Payment.  The “Early Termination Payment” payable to a TRA Holder pursuant to Section 4.3(a) shall equal the present value, discounted at the Early Termination Rate as determined as of the Early Termination Reference Date (other than any Tax Benefit Payments in respect of Taxable Years ending prior to the Early Termination Effective Date), of all Tax Benefit Payments that would be required to be paid by PubCo to such TRA Holder, beginning from the Early Termination Effective Date and assuming that the Valuation Assumptions in respect of such TRA Holder are applied.  For the avoidance of doubt, an Early Termination Payment shall be made to each TRA Holder in accordance with this Agreement, regardless of whether a TRA Holder has Exchanged all of its Units as of the Early Termination Effective Date.

  Article V.
SUBORDINATION AND LATE PAYMENTS

  Section 5.1	Subordination.  Notwithstanding any other provision of this Agreement to the contrary, any Tax Benefit Payment required to be made by PubCo to the TRA Holders under this Agreement shall rank subordinate and junior in right of payment to any principal, interest, or other amounts due and payable in respect of any obligations owed in respect of secured or unsecured indebtedness for borrowed money of PubCo and its Subsidiaries (“Senior Obligations”) and shall rank pari passu in right of payment with all current or future unsecured obligations of PubCo that are not Senior Obligations.  To the extent that any payment under this Agreement is not permitted to be made at the time payment is due as a result of this Section 5.1 and the terms of the agreements governing Senior Obligations, such payment obligation nevertheless shall accrue for the benefit of the TRA Holders and PubCo shall make such 

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  payments at the first opportunity that such payments are permitted to be made in accordance with the terms of the Senior Obligations.  Notwithstanding any other provision of this Agreement to the contrary, to the extent that PubCo or any of its Affiliates enters into future Tax receivable or other similar agreements (“Future TRAs”), PubCo shall ensure that the terms of any such Future TRA shall provide that the Tax Attributes subject to this Agreement are considered senior in priority to any Tax attributes subject to any such Future TRA for purposes of calculating the amount and timing of payments under any such Future TRA.

  Section 5.2	Late Payments by PubCo.  The amount of all or any portion of any Tax Benefit Payment or Early Termination Payment not made to the TRA Holders when due under the terms of this Agreement, whether as a result of Section 5.1 or otherwise, shall be payable together with any interest thereon, computed at the Default Rate and commencing from the date on which such Tax Benefit Payment or Early Termination Payment was first due and payable to the date of actual payment.

  Article VI.
TAX MATTERS; CONSISTENCY; COOPERATION

  Section 6.1	Participation in the Corporation’s and the LLC’s Tax Matters.  Except as otherwise provided herein, the Corporation shall have full responsibility for, and sole discretion over, all Tax matters concerning the Corporation and the LLC, including without limitation the preparation, filing or amending of any Tax Return and defending, contesting or settling any issue pertaining to Taxes.  Notwithstanding the foregoing, PubCo (i) shall notify the TRA Holder Representatives of, and keep the TRA Holder Representatives reasonably informed with respect to, the portion of any audit, examination, or any other administrative or judicial proceeding (a “Tax Proceeding”) of the Corporation, the LLC, or any of the LLC’s Subsidiaries by a Taxing Authority the outcome of which is reasonably expected to materially and adversely affect the rights and obligations of the TRA Holders under this Agreement, (ii) shall provide the TRA Holder Representatives with reasonable opportunity to provide information and other input to the Corporation, the LLC and their respective advisors concerning the conduct of any such portion of a Tax Proceeding, and (iii) shall not enter into any settlement with respect to any such portion of a Tax Proceeding that could have a material effect on the TRA Holders’ rights (including the right to receive payments) under this Agreement without the written consent of the TRA Holder Representatives, such consent not to be unreasonably withheld, conditioned or delayed; provided, however, that the Corporation and the LLC shall not be required to take any action, or refrain from taking any action, that is inconsistent with any provision of the LLC Agreement; provided, further, that, notwithstanding anything to the contrary contained herein, the Corporation shall prepare, file, and/or amend all Tax Returns in accordance with applicable law (including with respect to the calculation of taxable income and any calculations required to be made under this Agreement) and nothing in this Agreement shall prevent the TRA Holder Representatives from disputing such Tax matters in accordance with Section 7.9.

  Section 6.2	Consistency.  The Corporation and the TRA Holders agree to report and cause to be reported for all purposes, including U.S. federal, state and local Tax purposes and financial reporting purposes, all Tax-related items (including, without limitation, the Basis Adjustments and each Tax Benefit Payment) in a manner consistent with that contemplated by this Agreement or specified by PubCo in any Schedule required to be provided by or on behalf of PubCo under 

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  this Agreement unless otherwise required by law.  PubCo shall (and shall cause the LLC and its other Subsidiaries to) use commercially reasonable efforts (for the avoidance of doubt, taking into account the interests and entitlements of all TRA Holders under this Agreement) to defend the Tax treatment contemplated by this Agreement and any Schedule in any audit, contest or similar proceeding with any Taxing Authority.

  Section 6.3	Cooperation.  Each TRA Holder shall (i) furnish to PubCo in a timely manner such information, documents and other materials as PubCo may reasonably request for purposes of making any determination or computation necessary or appropriate under or with respect to this Agreement, preparing any Tax Return or contesting or defending any audit, examination or controversy with any Taxing Authority, or estimating any future Tax Benefit Payments hereunder, (ii) make itself available to PubCo and its representatives to provide explanations of documents and materials and such other information as may be reasonably requested in connection with any of the matters described in clause (i) above, and (iii) reasonably cooperate in connection with any such matter and PubCo shall reimburse any TRA Holder for any reasonable and documented out-of-pocket costs and expenses incurred pursuant to this Section 6.3.  Upon the request of any TRA Holder Representative, PubCo shall cooperate in taking any action reasonably requested by such TRA Holder Representative in connection with a TRA Holder’s tax or financial reporting and/or the consummation of any assignment or transfer of any of a TRA Holder’s rights and/or obligations under this Agreement, including without limitation, providing any information or executing any documentation.

  Article VII.
MISCELLANEOUS

  Section 7.1	Notices.  All notices, requests, consents and other communications hereunder shall be in writing and shall be given (and shall be deemed to have been duly given upon receipt) by delivery in person, by courier service, by fax, by electronic mail (delivery receipt requested) or by certified or registered mail (postage prepaid, return receipt requested) to the respective Parties at the following addresses (or at such other address for a Party as shall be as specified in a notice given in accordance with this Section 7.1).  All notices hereunder shall be delivered as set forth below, or pursuant to such other instructions as may be designated in writing by the Party to receive such notice:

  If to PubCo, to:

  Definitive Healthcare Corp.
550 Cochituate Rd
Framingham, MA 01701
Telephone:  (508) 720-4224
Attn:  David M. Samuels
E-mail:  dsamuels@definitivehc.com

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

  Weil, Gotshal & Manges LLP
767 Fifth Avenue
 

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  New York, NY 10153
Attn:  Alexander D. Lynch; Barbra J. Broudy; Marilyn French Shaw
E-mail:  alex.lynch@weil.com; barbra.broudy@weil.com; marilynfrench.shaw@weil.com

  If to the Advent Funds:

  Advent International Corporation
Prudential Tower
800 Boylston Street
Boston, MA 02110
Attn:	Lauren Young; James Westra
Email:  lyoung@adventinternational.com; jwestra@adventinternational.com

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

  Weil, Gotshal & Manges LLP
767 Fifth Avenue
New York, NY 10153
Attn:  Alexander D. Lynch; Barbra J. Broudy
E-mail:  alex.lynch@weil.com; barbra.broudy@weil.com

  If to the 22C Funds:

  22C Capital LLC
7900 Glades Road, Suite 540
Boca Raton, FL 33434
Attn:  Eric Edell
E-mail:  eje@22ccapital.com

  If to the Spectrum Funds:

  One International Place, 35th Floor
Boston MA 02110
E-mail:  Chris@spectrumequity.com; Jeff@spectrumequity.com

  Any Party may change its address, fax number or e-mail address by giving each of the other Parties written notice thereof in the manner set forth above.

  Section 7.2	Counterparts.  This Agreement may be executed in one or more counterparts, all of which shall be considered one and the same agreement and shall become effective when one or more counterparts have been signed by each of the Parties and delivered to the other Parties, it being understood that all Parties need not sign the same counterpart.  Delivery of an executed signature page to this Agreement by facsimile or other electronic transmission shall be as effective as delivery of a manually signed counterpart of this Agreement.

  Section 7.3	Entire Agreement; No Third Party Beneficiaries.  This Agreement constitutes the entire agreement and supersedes all prior agreements and understandings, both written and oral, 

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  among the Parties with respect to the subject matter hereof.  This Agreement shall be binding upon and inure solely to the benefit of each Party hereto and their respective successors and permitted assigns, and nothing in this Agreement, express or implied, is intended to or shall confer upon any other Person any right, benefit or remedy of any nature whatsoever under or by reason of this Agreement.

  Section 7.4	Governing Law.  This Agreement shall be governed by, and construed in accordance with, the law of the State of Delaware, without regard to the conflicts of laws principles thereof that would mandate the application of the laws of another jurisdiction.

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

  Section 7.6	Assignments; Amendments; Successors; No Waiver.

  (a)	Assignment.  Each TRA Holder may assign, sell, pledge, or otherwise alienate or transfer any interest in this Agreement, including the right to receive any Tax Benefit Payments under this Agreement, to any Person; provided such Person executes and delivers a Joinder agreeing to succeed to the applicable portion of such TRA Holder’s interest in this Agreement and to become a Party for all purposes of this Agreement, except as otherwise provided in such Joinder (the “Joinder Requirement”).

  (b)	Amendments.  No provision of this Agreement may be amended unless such amendment is approved in writing by each of PubCo, and by the TRA Holders who would be entitled to receive at least two-thirds of the total amount of the Early Termination Payments payable to all TRA Holders hereunder if PubCo had exercised its right of early termination on the date of the most recent Exchange prior to such amendment (excluding, for purposes of this sentence, all payments made to any TRA Holder pursuant to this Agreement since the date of such most recent Exchange); provided, that no such amendment shall be effective if such amendment will have a disproportionate effect on the payments one or more TRA Holders would be entitled to receive under this Agreement unless such amendment is consented in writing by such TRA Holders disproportionately affected who would be entitled to receive at least two- thirds of the total amount of the Early Termination Payments payable to all TRA Holders disproportionately affected hereunder if PubCo had exercised its right of early termination on the date of the most recent Exchange prior to such amendment (excluding, for purposes of this sentence, all payments made to any TRA Holder pursuant to this Agreement since the date of such most recent Exchange).  No provision of this Agreement may be waived unless such waiver is in writing and signed by the Party against whom the waiver is to be effective.

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  (c)	Successors.  Except as provided in Section 7.6(a), all of the terms and provisions of this Agreement shall be binding upon, and shall inure to the benefit of and be enforceable by, the Parties hereto and their respective successors, assigns, heirs, executors, administrators and legal representatives.  PubCo shall require and cause any direct or indirect successor (whether by purchase, merger, consolidation or otherwise) to all or substantially all of the business or assets of PubCo, by written agreement, expressly to assume and agree to perform this Agreement in the same manner and to the same extent that PubCo would be required to perform if no such succession had taken place.

  (d)	Waiver.  No failure by any Party to insist upon the strict performance of any covenant, duty, agreement, or condition of this Agreement, or to exercise any right or remedy consequent upon a breach thereof, shall constitute a waiver of any such breach or any other covenant, duty, agreement, or condition.

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

  Section 7.8	Consent to Jurisdiction; Waiver of Jury Trial.

  (a)	Each party hereby irrevocably submits to the jurisdiction of the United States District Court for the State of Delaware and the state courts of the State of Delaware for the purposes of any suit, action or other proceeding arising out of this Agreement or any transaction contemplated hereby.  Each party hereto further agrees that service of any process, summons, notice or document by United States certified or registered mail (in each such case, prepaid return receipt requested) to such party’s respective address set forth in the Company’s books and records or such other address or to the attention of such other person as the recipient party has specified by prior written notice to the sending party shall be effective service of process in any action, suit or proceeding in Delaware with respect to any matters to which it has submitted to jurisdiction as set forth above in the immediately preceding sentence.  Each party hereby waives, to the fullest extent permitted by applicable law, any objection which they now or hereafter may have to personal jurisdiction or to the laying of venue of any such ancillary suit, action or proceeding brought in the United States District Court for the State of Delaware and the state courts located in the State of Delaware and the parties agree not to plead or claim the same.

  (b)	Waiver of Jury Trial.  Because disputes arising in connection with complex transactions are most quickly and economically resolved by an experienced and expert person and the parties wish applicable state and federal laws to apply (rather than arbitration rules), the parties desire that their disputes be resolved by a judge applying such applicable laws.  Therefore, to achieve the best combination of the benefits of the judicial system and of arbitration, each party to this agreement (including the Company) hereby waives all rights to trial by jury in any action or proceeding brought to resolve any dispute between or among any of the parties hereto, whether arising in contract, tort, or otherwise, arising out of, connected with, related or incidental to this agreement, the transactions contemplated hereby and/or the relationships established among the parties hereunder.

  Section 7.9	Reconciliation.  In the event that PubCo and any TRA Holder Representative are unable to resolve a disagreement with respect to the matters governed by Sections 2.4 and 4.2, 

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  within the relevant time period designated in this Agreement (a “Reconciliation Dispute”), the Reconciliation Dispute shall be submitted for determination to a nationally recognized expert (the “Expert”) in the particular area of disagreement mutually acceptable to both Parties.  The Expert shall be a partner or principal in a nationally recognized accounting firm, and unless PubCo and such TRA Holder Representative agree otherwise, the Expert shall not, and the firm that employs the Expert shall not, have any material relationship with PubCo or such TRA Holder Representative or other actual or potential conflict of interest.  If the Parties are unable to agree on an Expert within fifteen (15) calendar days of receipt by the respondent(s) of written notice of a Reconciliation Dispute, the Expert shall be appointed by the International Chamber of Commerce Centre for Expertise.  The Expert shall resolve any matter relating to the Attribute Schedule or an amendment thereto or the Early Termination Schedule or an amendment thereto within thirty (30) calendar days and shall resolve any matter relating to a Tax Benefit Schedule or an amendment thereto within fifteen (15) calendar days or as soon thereafter as is reasonably practicable, in each case after the matter has been submitted to the Expert for resolution.  Notwithstanding the preceding sentence, if the matter is not resolved before any payment that is the subject of a disagreement would be due (in the absence of such disagreement) or any Tax Return reflecting the subject of a disagreement is due, the undisputed amount shall be paid on the date prescribed by this Agreement and such Tax Return may be filed as prepared by the Corporation, subject to adjustment or amendment upon resolution.  The costs and expenses relating to the engagement of such Expert or amending any Tax Return shall be borne by PubCo except as provided in the next sentence.  PubCo and the TRA Holder Representative shall bear their own costs and expenses of such proceeding, unless (i) the Expert adopts the TRA Holder Representative’s position, in which case PubCo shall reimburse the TRA Holder Representative for any reasonable and documented out-of-pocket costs and expenses in such proceeding, or (ii) the Expert adopts the Corporation’s position, in which case the TRA Holder Representative shall reimburse PubCo for any reasonable and documented out-of-pocket costs and expenses in such proceeding.  Any dispute as to whether a dispute is a Reconciliation Dispute within the meaning of this Section 7.9 shall be decided by the Expert.  The Expert shall finally determine any Reconciliation Dispute and the determinations of the Expert pursuant to this Section 7.9 shall be binding on the Corporation and the TRA Holders and may be entered and enforced in any court having competent jurisdiction.

  Section 7.10	Withholding.  PubCo and its affiliates and representatives shall be entitled to deduct and withhold from any payment that is payable to any TRA Holder pursuant to or with respect to this Agreement such amounts as PubCo is required to deduct and withhold with respect to the making of such payment under the Code or any provision of U.S. state, local or foreign Tax law; provided that, prior to deducting or withholding any such amounts, PubCo shall notify the applicable TRA Holder Representative and shall consult in good faith with such TRA Holder Representative regarding the basis for such deduction or withholding.  To the extent that amounts are so withheld and paid over to the appropriate Taxing Authority, such withheld amounts shall be treated for all purposes of this Agreement as having been paid by PubCo to the relevant TRA Holder.  To the extent that any payment pursuant to this Agreement is not reduced by such deductions or withholdings, such recipient shall indemnify the applicable withholding agent for any amounts imposed by any Taxing Authority together with any costs and expenses related thereto.  Each TRA Holder shall promptly provide PubCo, the LLC or other applicable withholding agent with any applicable Tax forms and certifications (including IRS Form W-9 or the applicable version of IRS Form W-8) reasonably requested by PubCo in connection with 

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  determining whether any such deductions and withholdings are required under the Code or any provision of U.S. state, local or foreign Tax law.

  Section 7.11	Admission of PubCo into a Consolidated Group; Transfers of Corporate Assets.

  (a)	If PubCo is or becomes a member of an affiliated or consolidated group of corporations that files a consolidated income Tax Return pursuant to Section 1501 or other applicable Sections of the Code governing affiliated or consolidated groups, or any corresponding provisions of U.S. state or local law, then:  (i) the provisions of this Agreement shall be applied with respect to the group as a whole; and (ii) Tax Benefit Payments, Early Termination Payments, and other applicable items hereunder shall be computed with reference to the consolidated taxable income of the group as a whole.

  (b)	If the Corporation (or any member of a group described in Section 7.11(a)) transfers or is deemed to transfer any Unit or any Reference Asset to a transferee that is treated as a corporation for U.S. federal income tax purposes (other than a member of a group described in Section 7.11(a)) in a transaction in which the transferee’s basis in the property acquired is determined in whole or in part by reference to such transferor’s basis in such property, then PubCo shall cause such transferee to assume the obligation to make payments hereunder with respect to the applicable Tax Attributes associated with any Reference Asset or interest therein acquired (directly or indirectly) in such transfer (taking into account any gain recognized in the transaction) in a manner consistent with the terms of this Agreement as the transferee (or one of its Affiliates) actually realizes Tax benefits from the Tax Attributes.  If the LLC transfers (or is deemed to transfer for U.S. federal income tax purposes) any Reference Asset to a transferee that is treated as a corporation for U.S. federal income tax purposes (other than a member of a group described in Section 7.11(a)) in a transaction in which the transferee’s basis in the property acquired is determined in whole or in part by reference to such transferor’s basis in such property, then for purposes of calculating payments under this Agreement, the LLC shall be treated as having disposed of the Reference Asset in a wholly taxable transaction.  The consideration deemed to be received by the LLC in a transaction contemplated in the prior sentence shall be equal to the fair market value of the deemed transferred asset, plus, to the extent applicable, the amount of any debt that would increase the transferor’s “amount realized” for U.S. federal income tax purposes in connection with such transfer, in the case of a transfer of an encumbered asset (including an interest in an entity classified for U.S. federal income tax purposes as a partnership which has debt outstanding).  If any member of a group described in Section 7.11(a) that owns any Unit deconsolidates from the group (or the Corporation deconsolidates from the group), then PubCo shall cause such member (or the parent of the consolidated group in a case where the Corporation deconsolidates from the group) to assume the obligation to make payments hereunder with respect to the applicable Tax Attributes associated with any Reference Asset it owns (directly or indirectly) in a manner consistent with the terms of this Agreement as the member (or one of its Affiliates) actually realizes Tax benefits.  If a transferee or a member of a group described in Section 7.11(a) assumes an obligation to make payments hereunder pursuant to either of the foregoing sentences, then the initial obligor is relieved of the obligation assumed.

  (c)	If the Corporation (or any member of a group described in Section 7.11(a)) transfers (or is deemed to transfer for U.S. federal income tax purposes) any Unit in a transaction that is wholly 

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  or partially taxable, then for purposes of calculating payments under this Agreement, the LLC shall be treated as having disposed of the portion of any Reference Asset that is indirectly transferred by the Corporation (i.e., taking into account the number of Units transferred) in a wholly or partially taxable transaction in which all income, gain or loss is allocated to the Corporation.  The consideration deemed to be received by the LLC shall be equal to the fair market value of the deemed transferred asset, plus, to the extent applicable, the amount of debt that would increase the transferor’s “amount realized” for U.S. federal income tax purposes in connection with such transfer, in the case of a transfer of an encumbered asset (including an interest in an entity classified for U.S. federal income tax purposes as a partnership which has debt outstanding).

  Section 7.12	Confidentiality.  Subject to the last sentence of Section 6.3, each TRA Holder and its assignees acknowledges and agrees that the information of PubCo and its Affiliates is confidential and, except in the course of, and to the extent reasonably required in connection with, performing any duties as necessary for PubCo and its Affiliates or as required by law or legal process (in which case, the TRA Holder shall provide prompt written notice of such requirement to PubCo) or to enforce the terms of this Agreement, such Person shall keep and retain in the strictest confidence and not disclose to any Person any confidential matters or confidential information, acquired pursuant to this Agreement, of PubCo and its Affiliates and successors, whether learned by any TRA Holder heretofore or hereafter.  This Section 7.12 shall not apply to (i) any information that has been made publicly available by PubCo or any of its Affiliates, becomes public knowledge (except as a result of an act of any TRA Holder in violation of this Agreement) or is generally known to the business community, (ii) the disclosure of information to the extent necessary for a TRA Holder to prosecute or defend claims arising under or relating to this Agreement, and (iii) the disclosure of information to the extent necessary for a TRA Holder to prepare and file its Tax Returns, to respond to any inquiries regarding the same from any Taxing Authority or to prosecute or defend any action, proceeding or audit by any Taxing Authority with respect to such Tax Returns.  Notwithstanding anything to the contrary herein, each TRA Holder and each of their assignees (and each employee, representative or other agent of the TRA Holder or its assignees, as applicable) may disclose to any and all Persons, without limitation of any kind, the Tax treatment and Tax structure of PubCo, the LLC and their Affiliates, and any of their transactions, and all materials of any kind (including opinions or other Tax analyses) that are provided to the TRA Holder relating to such Tax treatment and Tax structure.  If a TRA Holder or an assignee commits a breach, or threatens to commit a breach, of any of the provisions of this Section 7.12, PubCo shall have the right and remedy to have the provisions of this Section 7.12 specifically enforced by injunctive relief or otherwise by any court of competent jurisdiction without the need to post any bond or other security, it being acknowledged and agreed that any such breach or threatened breach shall cause irreparable injury to PubCo or any of its Subsidiaries and that money damages alone shall not provide an adequate remedy to such Persons.  Such rights and remedies shall be in addition to, and not in lieu of, any other rights and remedies available at law or in equity.

  Section 7.13	Change in Law.  Notwithstanding anything herein to the contrary, if, as a result of or, in connection with an actual or proposed change in law, a TRA Holder reasonably believes that the existence of this Agreement could cause income (other than income arising from receipt of a payment under this Agreement) recognized by such TRA Holder (or direct or indirect equity holders in such TRA Holder) in connection with any Exchange to be treated as ordinary income 

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  (other than with respect to so called hot assets, as described in Section 751(a) of the Code) rather than capital gain (or otherwise taxed at ordinary income rates) for U.S. federal income tax purposes or would have other material adverse Tax consequences to such TRA Holder or any direct or indirect owner of such TRA Holder, then at the written election of such TRA Holder in its sole discretion (in an instrument signed by such TRA Holder and delivered to PubCo) and to the extent specified therein by such TRA Holder, (i) this Agreement shall cease to have further effect with respect to such TRA Holder, (ii) shall not apply to an Exchange with respect to such TRA Holder occurring after a date specified by such TRA Holder, or (iii) may be amended by the Parties in a manner reasonably determined by such TRA Holder and PubCo as it relates to such TRA Holder, provided that such amendment shall not result in an increase in or acceleration of any payments owed by PubCo under this Agreement at any time as compared to the amounts and times of payments that would have been due in the absence of such amendment.

  Section 7.14	Independent Nature of Rights and Obligations.  The rights and obligations of each TRA Holder hereunder are several and not joint with the rights and obligations of any other Person.  A TRA Holder shall not be responsible in any way for the performance of the obligations of any other Person hereunder, nor shall a TRA Holder have the right to enforce the rights or obligations of any other Person hereunder (other than PubCo).  The obligations of a TRA Holder hereunder are solely for the benefit of, and shall be enforceable solely by, PubCo.  Nothing contained herein or in any other agreement or document delivered at any closing, and no action taken by any TRA Holder pursuant hereto or thereto, shall be deemed to constitute the TRA Holders acting as a partnership, an association, a joint venture or any other kind of entity, or create a presumption that the TRA Holders are in any way acting in concert or as a group with respect to such rights or obligations or the transactions contemplated hereby, and PubCo acknowledges that the TRA Holders are not acting in concert or as a group and will not assert any such claim with respect to such rights or obligations or the transactions contemplated hereby.

  Section 7.15	TRA Holder Representative.  By executing this Agreement, each of the TRA Holders shall be deemed to have irrevocably constituted their respective TRA Holder Representative as his, her or its agent and attorney in fact with full power of substitution to act from and after the date hereof and to do any and all things and execute any and all documents on behalf of such TRA Holders which may be necessary, convenient or appropriate to facilitate any matters under this Agreement, including but not limited to:  (i) execution of the documents and certificates required pursuant to this Agreement; (ii) except to the extent specifically provided in this Agreement receipt and forwarding of notices and communications pursuant to this Agreement; (iii) administration of the provisions of this Agreement; (iv) any and all consents, waivers, amendments or modifications deemed by the respective TRA Holder Representative, in its sole and absolute discretion, to be necessary or appropriate under this Agreement and the execution or delivery of any documents that may be necessary or appropriate in connection therewith; (v) amending this Agreement or any of the instruments to be delivered to PubCo pursuant to this Agreement; (vi) taking actions the TRA Holder Representatives are expressly authorized to take pursuant to the other provisions of this Agreement; (vii) negotiating and compromising, on behalf of such TRA Holders, any dispute that may arise under, and exercising or refraining from exercising any remedies available under, this Agreement or any other agreement contemplated hereby and executing, on behalf of such TRA Holders, any settlement agreement, release or other document with respect to such dispute or remedy; and (viii) engaging attorneys, accountants, agents or consultants on behalf of such TRA Holders in connection with 

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  this Agreement or any other agreement contemplated hereby and paying any fees related thereto.  A TRA Holder Representative may resign upon thirty (30) days’ written notice to PubCo.  All reasonable, documented out-of-pocket costs and expenses incurred by a TRA Holder Representative in its capacity as such shall be promptly reimbursed by PubCo upon invoice and reasonable support therefor by such TRA Holder Representative.  To the fullest extent permitted by law, none of the TRA Holder Representatives, any of their Affiliates, or any of the TRA Holder Representatives’ or Affiliate’s directors, officers, employees or other agents (each a “Covered Person”) shall be liable, responsible or accountable in damages or otherwise to any TRA Holder, the LLC or PubCo for damages arising from any action taken or omitted to be taken by such TRA Holder Representative or any other Person with respect to the LLC or PubCo, except in the case of any action or omission which constitutes, with respect to such Person, willful misconduct or fraud.  Each of the Covered Persons may consult with legal counsel, accountants, and other experts selected by it, and any act or omission suffered or taken by it on behalf of the LLC or PubCo or in furtherance of the interests of the LLC or PubCo in good faith in reliance upon and in accordance with the advice of such counsel, accountants, or other experts shall create a rebuttable presumption of the good faith and due care of such Covered Person with respect to such act or omission; provided, that such counsel, accountants, or other experts were selected with reasonable care.  Each of the Covered Persons may rely in good faith upon, and shall have no liability to the LLC, PubCo or the TRA Holders for acting or refraining from acting upon, any resolution, certificate, statement, instrument, opinion, report, notice, request, consent, order, bond, debenture, or other paper or document reasonably believed by it to be genuine and to have been signed or presented by the proper party or parties.

  Signature Page Follows This Page

   

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  IN WITNESS WHEREOF, the undersigned have executed or caused to be executed on their behalf this Agreement as of the date first written above.

   

  		
	PubCo:

	DEFINITIVE HEALTHCARE CORP.

	 

	By:
	/s/ Jason Krantz

	Name:
	  Jason Krantz

	Title:
	   President and Chief Executive Officer

   

  		
	THE LLC:

	AIDH TOPCO, LLC

	 

	By:
	/s/ Jason Krantz

	Name:
	  Jason Krantz

	Title:
	   President and Chief Executive Officer

   

   

   

   

   

   

   

   

   

   

   

   

   

   

  [Signature Page to Tax Receivable Agreement]

   

   

  35

  

   

  	
	TRA HOLDERS:

	 
/s/ Jason Krantz

	Jason Krantz

   

   

   

   

   

   

   

   

   

   

   

   

   

   

   

  [Signature Page to Tax Receivable Agreement]

   

   

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  Signed and delivered on behalf of each of the following persons on an individual basis:

  Allastair Meffen
Alys Reynder Scott
Andrew Nelson
Catherine Wright
Dave Courville
Dave Peisach
David Kronfeld
David Thornton
Jason Mitchell
John Macek
Julie Moore
Kevin P. Shone
Kurt Anderson
Mark Haddad Echelon 2017, LP
Patrick Roberts
Robert Gleavy
Stefan Evers
Todd Bellemare
Tom Spencer
Anderson Lavor
Bauerle Lars
Björn Carlsson
Brian Harper
Chris Marcogliese
Christopher Brooks
Elizabeth McCann
Erin Moxley
Evan Cox
Gregg Vincent
Guy Bowman
Henrik Alburg
Jake Christman
Janet Carlisle
Jason Reynolds
Jordan McAdams
Justin Steinman
Keegan Hellweg
Ken Cote
Laine Lovell
Maggie Fortune
Marc Delaronde
Marissa Peoples

  [Signature Page to Tax Receivable Agreement]

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  Mark Schroeder
Matthew Martocci
Michelle Liro
Naveen Hariprasad
Nils-Johan Hult
Oskar Thornblad
Paul Bolick
Paula 
Randy Wambold
Robert Groebel
Robin Priddis
Ryan Sowers
Scott Oberlink
Steve Aubertin
Steve Carr
Thomas Baker
Thomas Cribben
Tina Christopher
Tom Jordan
Tom Middleton
Tom Penque
Jill Larsen
Digital HR LLC
Robert W. Musslewhite
Robert Musslewhite 2014 Family Trust
Kate Shamsuddin
Joseph Mirisola
David Samuels
Richard Booth
Samuel Allen Hamood Trust U/A 8/27/2010
Michael Liu
MHDH USA Inc.
Paula Sjövall Boultbee
Joseph F Donahue
Joseph H Donahue
Christopher 
Keep Enterprises LLC
Lars Bauerle
Andrew H. Palmer

  acting by each of their lawfully appointed attorney

   

   

  	
	/s/ Jason Krantz

	Jason Krantz

  [Signature Page to Tax Receivable Agreement]

   

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  ADVENT INTERNATIONAL GPE IX LIMITED PARTNERSHIP
ADVENT INTERNATIONAL GPE IX-B LIMITED PARTNERSHIP
ADVENT INTERNATIONAL GPE IX-C LIMITED PARTNERSHIP
ADVENT INTERNATIONAL GPE IX-F LIMITED PARTNERSHIP
ADVENT INTERNATIONAL GPE IX-G LIMITED PARTNERSHIP
ADVENT INTERNATIONAL GPE IX-H LIMITED PARTNERSHIP
ADVENT INTERNATIONAL GPE IX-I LIMITED PARTNERSHIP

   

  		
	By:
	GPE IX GP Limited Partnership, its
General Partner

	By:
	Advent International GPE IX, LLC, its
General Partner

	By:
	Advent International Corporation, its
Manager

   

  				
	By:
	/s/ James Westra
	 

	 
	Name:
	James Westra

	 
	Title:
	Chief Legal Officer, General Counsel,

	 
	 
	and Managing Partner

  ADVENT PARTNERS GPE IX LIMITED PARTNERSHIP
ADVENT PARTNERS GPE IX-A LIMITED PARTNERSHIP
ADVENT PARTNERS GPE IX-A CAYMAN LIMITED PARTNERSHIP
ADVENT PARTNERS GPE IX-B CAYMAN LIMITED PARTNERSHIP
ADVENT PARTNERS GPE IX CAYMAN LIMITED PARTNERSHIP

   

  		
	By:
	AP GPE IX GP Limited Partnership, its
General Partner

	By:
	Advent International GPE IX, LLC, its
General Partner

	By:
	Advent International Corporation, its
Manager

   

  				
	By:
	/s/ James Westra
	 

	 
	Name:
	James Westra

	 
	Title:
	Chief Legal Officer, General Counsel,

	 
	 
	and Managing Partner

   

   

   

  [Signature Page to Tax Receivable Agreement]

   

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  ADVENT INTERNATIONAL GPE IX-A SCSP
ADVENT INTERNATIONAL GPE IX-D SCSP
ADVENT INTERNATIONAL GPE IX-E SCSP
ADVENT PARTNERS GPE IX STRATEGIC INVESTORS SCSP

   

  				
	By:
	GPE IX GP S.à r.l., its General Partner
	 
	 

	By:
	Advent International GPE IX, LLC, its
	/s/ Justin Nuccio
	 

	 
	General Partner
	Justin Nuccio, Manager
	 

	By:
	Advent International Corporation, its
Manager
	 
	 

   

   

  				
	By:
	/s/ James Westra
	 

	 
	Name:
	James Westra

	 
	Title:
	Chief Legal Officer, General Counsel,

	 
	 
	and Managing Partner

   

   

  ADVENT GLOBAL TECHNOLOGY LIMITED PARTNERSHIP
ADVENT GLOBAL TECHNOLOGY-B LIMITED PARTNERSHIP
ADVENT GLOBAL TECHNOLOGY-C LIMITED PARTNERSHIP
ADVENT GLOBAL TECHNOLOGY-D LIMITED PARTNERSHIP

   

  		
	By:
	Advent Global Technology GP Limited
Partnership, its
General Partner

	By:
	Advent Global Technology LLC, its
General Partner

	By:
	Advent International Corporation, its
Manager

   

  				
	By:
	/s/ James Westra
	 

	 
	Name:
	James Westra

	 
	Title:
	Chief Legal Officer, General Counsel,

	 
	 
	and Managing Partner

   

   

   

   

   

   

  40

  

   

  [Signature Page to Tax Receivable Agreement]

   

  41

  

   

  ADVENT GLOBAL TECHNOLOGY-A SCSP

   

  				
	By:
	Advent Global Technology GP S.à r.l., its
General Partner
	 
	 

	By:
	Advent Global Technology LLC, its
	/s/ Justin Nuccio
	 

	 
	General Partner
	Justin Nuccio, Manager
	 

	By:
	Advent International Corporation, its
Manager
	 
	 

   

   

  				
	By:
	/s/ James Westra
	 

	 
	Name:
	James Westra

	 
	Title:
	Chief Legal Officer, General Counsel,

	 
	 
	and Managing Partner

   

  ADVENT PARTNERS AGT CAYMAN LIMITED PARTNERSHIP
ADVENT PARTNERS AGT LIMITED PARTNERSHIP
ADVENT PARTNERS AGT-A LIMITED PARTNERSHIP
ADVENT GLOBAL TECHNOLOGY STRATEGIC INVESTORS LIMITED PARTNERSHIP

   

  		
	By:
	AP AGT GP Limited Partnership, its
General Partner

	By:
	Advent Global Technology LLC, its
General Partner

	By:
	Advent International Corporation, its
Manager

   

  				
	By:
	/s/ James Westra
	 

	 
	Name:
	James Westra

	 
	Title:
	Chief Legal Officer, General Counsel,

	 
	 
	and Managing Partner

   

  SUNLEY HOUSE CAPITAL MASTER LIMITED PARTNERSHIP

  		
	By:
	Sunley House Capital GP LP, its
General Partner

	By:
	Sunley House Capital GP LLC, its
General Partner

   

  42

  

   

  				
	By:
	/s/ James Westra
	 

	 
	Name:
	James Westra

	 
	Title:
	Authorized Signatory

  [Signature Page to Tax Receivable Agreement]

   

  43

  

   

  		
	SE VII DHC AIV, L.P.

	 
	 

	By:
	Spectrum Equity Associates VII, L.P., its General Partner

	By:
	SEA VII Management, LLC, its
General Partner

   

  		
	By:
	/s/ Christopher Mitchell

	Name:
	Christopher Mitchell

	Title:
	Managing Director

   

  		
	SPECTRUM VII INVESTMENT MANAGERS' FUND, L.P.

	 
	 

	By:
	SEA VII Management, LLC, its General Partner

   

   

  		
	By:
	/s/ Christopher Mitchell

	Name:
	Christopher Mitchell

	Title:
	Managing Director

   

   

  		
	SPECTRUM VII CO-INVESTMENT FUND, L.P.

	 
	 

	By:
	SEA VII Management, LLC,
its General Partner

   

   

  		
	By:
	/s/ Christopher Mitchell

	Name:
	Christopher Mitchell

	Title:
	Managing Director

   

   

   

   

   

   

   

   

  [Signature Page to Tax Receivable Agreement]

   

   

  44

  

   

  		
	22C CAPITAL I-A, L.P.

	 
	 

	By:
	22C Capital GP I, L.L.C., its
General Partner

	By:
	22C Capital GP I MM LLC, its
Managing Member

   

  		
	By:
	/s/ David Randall Winn

	Name:
	David Randall Winn

	Title:
	Member

   

  		
	By:
	/s/ Eric J. Edell

	Name:
	Eric J. Edell

	Title:
	Member

   

  		
	22C CAPITAL I, L.P.

	 
	 

	By:
	22C Capital GP I, L.L.C., its
General Partner

	By:
	22C Capital GP I MM LLC, its Managing Member

   

   

  		
	By:
	/s/ David Randall Winn

	Name:
	David Randall Winn

	Title:
	Member

   

  		
	By:
	/s/ Eric J. Edell

	Name:
	Eric J. Edell

	Title:
	Member

   

   

   

   

   

  [Signature Page to Tax Receivable Agreement]

   

   

  45

  

   

  		
	22C CAPITAL I-A, L.P.

	 
	 

	By:
	22C Capital GP I, L.L.C., its
General Partner

	By:
	22C Capital GP I MM LLC, its
Managing Member

   

  		
	By:
	/s/ David Randall Winn

	Name:
	David Randall Winn

	Title:
	Member

   

  		
	By:
	/s/ Eric J. Edell

	Name:
	Eric J. Edell

	Title:
	Member

   

   

   

   

   

   

   

   

   

   

   

   

   

  [Signature Page to Tax Receivable Agreement]

   

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  Exhibit A

  FORM OF JOINDER AGREEMENT

  This JOINDER AGREEMENT, dated as of	, 20	(this “Joinder”), is delivered pursuant to that certain Tax Receivable Agreement, dated as of September 14, 2021 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Tax Receivable Agreement”) by and among Definitive Healthcare Corp., a Delaware corporation (“PubCo”), AIDH TopCo, LLC, a Delaware limited liability company (the “LLC”), each of the TRA Holders from time to time party thereto.  Capitalized terms used but not otherwise defined herein have the respective meanings set forth in the Tax Receivable Agreement.

  1.	Joinder to the Tax Receivable Agreement.  Upon the execution of this Joinder by the undersigned and delivery hereof to PubCo, the undersigned hereby is and hereafter will be a TRA Holder under the Tax Receivable Agreement and a Party thereto, with all the rights, privileges and responsibilities of a TRA Holder thereunder.  The undersigned hereby agrees that it shall comply with and be fully bound by the terms of the Tax Receivable Agreement as if it had been a signatory thereto as of the date thereof.

  2.	Incorporation by Reference.  All terms and conditions of the Tax Receivable Agreement are hereby incorporated by reference in this Joinder as if set forth herein in full.

  3.	Address.  All notices under the Tax Receivable Agreement to the undersigned shall be direct to:

  [Name] [Address]

  [City, State, Zip Code] Attn:

  Facsimile:

  E-mail:

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  IN WITNESS WHEREOF, the undersigned has duly executed and delivered this Joinder as of the day and year first above written.

   

  				
	 
	[NAME OF NEW PARTY]

	 
	 
	 

	 
	By:
	 

	 
	 
	Name:

	 
	 
	Title:

	 
	 
	 

	Acknowledged and agreed
as of the date first set forth above:
DEFINITIVE HEALTHCARE CORP.
	 
	 

	 
	 
	 

	By:
	 
	 
	 

	 
	Name:
	 
	 

	 
	Title:
	 
	 

   

   

  48

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