Document:

EX-10.15

 Exhibit 10.15 

FORM OF REGISTRATION RIGHTS AGREEMENT 

This Registration Rights Agreement (this “Agreement”) is made and entered into as of [DATE] among Xponential Fitness, Inc., a
Delaware corporation (the “Company”), and the persons identified on Schedule A hereto (collectively, the “Investors” and, each individually, an “Investor”). 

WHEREAS, the Company and Preferred Investors are parties to a Securities Purchase Agreement, dated as of the date hereof (the
“Purchase Agreement”), pursuant to which the Investors are purchasing [            ] shares of Preferred Stock (as defined below) of the Company; and 

WHEREAS, in connection with the consummation of the transactions contemplated by the Purchase Agreement and pursuant to the terms of the
Purchase Agreement, the parties hereto desire to enter into this Agreement in order to grant certain registration rights to the Investors as set forth below. 

NOW, THEREFORE, in consideration of the foregoing and the mutual and dependent covenants hereinafter set forth, the parties hereto agree as
follows: 
 1. Defined Terms. As used in this Agreement, the following terms shall have the following meanings: 

“Affiliate” of a Person means any other Person that directly, or indirectly through one or more intermediaries, controls or is
controlled by, or is under common control with, such Person. The term “control” (including the terms “controlling”, “controlled by” and “under common control with”) 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 the ownership of voting securities, by contract, or otherwise. 

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

“Alternative IPO Entities” has the meaning set forth in Section 11. 

“Board” means the Board of Directors (or any successor governing body) of the Company. 

“Business Day” means any day other than a Saturday, Sunday or day on which banking institutions in New York, New York are
authorized or obligated by law or executive order to close. 
 “Commission” means the Securities and Exchange Commission or
any other federal agency administering the Securities Act and the Exchange Act at the time. 
 “Common Stock” means the
Common Stock of the Company and any other shares issued or issuable with respect thereto (whether by way of an equity distribution or share split or in exchange for or upon conversion of such shares or otherwise in connection with a combination of
shares, distribution, recapitalization, merger, consolidation, other corporate reorganization or other similar event with respect to the Common Stock). 

“Company” has the meaning set forth in the preamble and includes the Company’s successors by merger, acquisition,
reorganization or otherwise. 

 “Controlling Person” has the meaning set forth in Section 5(g). 

“Demand Registration” has the meaning set forth in Section 2(b). 

“DTCDRS” has the meaning set forth in Section 5(r). 

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

 “Existing Investors” means those Investors included under the “Existing Investors” heading on
Schedule A. 
 “Governmental Authority” means any federal, state, local or foreign government or
political subdivision thereof, or any agency or instrumentality of such government or political subdivision, or any self-regulated organization or other non-governmental regulatory authority or
quasi-governmental authority (to the extent that the rules, regulations or orders of such organization or authority have the force of law), or any arbitrator, court or tribunal of competent jurisdiction. 

“Inspectors” has the meaning set forth in Section 5(h). 

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

“IPO” means an initial underwritten public offering of the Common Stock pursuant to an effective Registration Statement filed
under the Securities Act. 
 “Lock-Up Agreement” means any agreement entered into
by a holder of Common Stock that provides for restrictions on the transfer of Registrable Securities held by such Investor. 

“Long-Form Registration” has the meaning set forth in Section 2(a). 

“MSD” means any Affiliate of MSD Partners, L.P., or MSD Capital, L.P. who is or becomes party to this Agreement and each of
their respective designees and Affiliates, so long as such Persons continue to hold Registrable Securities. 
 “Permitted
Party” means any Person that is an Affiliate of Mark Grabowski or Anthony Geisler. 
 “Person” means an
individual, corporation, partnership, joint venture, limited liability company, Governmental Authority, unincorporated organization, trust, association or other entity. 

“Piggyback Registration” has the meaning set forth in Section 3(a). 

“Piggyback Registration Statement” has the meaning set forth in Section 3(a). 

“Piggyback Shelf Registration Statement” has the meaning set forth in Section 3(a). 

“Piggyback Shelf Takedown” has the meaning set forth in Section 3(a). 

  
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 “Potential Participant” has the meaning set forth in
Section 2(f). 
 “Preferred Investors” means those Investors included under the “Preferred
Investors” heading on Schedule A. 
 “Preferred Stock” means the Preferred Stock issued or
issuable to the Preferred Investors pursuant to the Purchase Agreement. 
 “Prospectus” means the prospectus or
prospectuses included in any Registration Statement (including, without limitation, a prospectus that includes any information previously omitted from a prospectus filed as part of an effective Registration Statement in reliance on Rule 430A under
the Securities Act or any successor rule thereto), as amended or supplemented by any prospectus supplement, including any Shelf Supplement, with respect to the terms of the offering of any portion of the Registrable Securities covered by such
Registration Statement and by all other amendments and supplements to the prospectus, including post-effective amendments and all material incorporated by reference in such prospectus or prospectuses. 

“Purchase Agreement” has the meaning set forth in the recitals. 

“Records” has the meaning set forth in Section 5(h). 

“Registrable Securities” means (a) any Common Stock beneficially owned by the Investors and any Common Stock issuable
upon conversion of the Preferred Stock, and (b) any Common Stock issued or issuable with respect to any securities described in subsection (a) above by way of a share distribution or share split or in exchange for or upon conversion of
such shares or otherwise in connection with a combination of shares, distribution, recapitalization, merger, consolidation, other reorganization or other similar event with respect to the Common Stock (it being understood that, for purposes of this
Agreement, a Person shall be deemed to be a holder of Registrable Securities whenever such Person has the right to then acquire or obtain from the Company any Registrable Securities, whether or not such acquisition has actually been effected). As to
any particular Registrable Securities, such securities shall cease to be Registrable Securities when (x) the Commission has declared a Registration Statement covering such securities effective and such securities have been disposed of pursuant
to such effective Registration Statement, or (y) such securities are sold under circumstances in which all of the applicable conditions of Rule 144 under the Securities Act are met. 

“Registration Date” means the date on which the Company becomes subject to Section 13(a) or Section 15(d) of the
Exchange Act. 
 “Registration Statement” means any registration statement of the Company, including the Prospectus,
amendments and supplements (including Shelf Supplements) to such registration statement, including post-effective amendments, all exhibits and all material incorporated by reference in such registration statement. 

“Rule 144” means Rule 144 under the Securities Act or any successor rule thereto. 

“Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder. 

  
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 “Selling Expenses” means all underwriting discounts, selling commissions
and stock transfer taxes applicable to the sale of Registrable Securities. 
 “Shelf Registration” has the meaning set
forth in Section 2(c). 
 “Shelf Registration Statement” has the meaning set forth in Section 2(c). 

“Shelf Supplement” has the meaning set forth in Section 2(e). 

“Shelf Takedown” has the meaning set forth in Section 2(e). 

“Short-Form Registration” has the meaning set forth in Section 2(b). 

“Underwritten Block Trade” has the meaning set forth in Section 2(f). 

2. Demand Registration. 

(a) At any time after the earlier of 181 days after the IPO, (i) holders of at least 20% of the Registrable Securities then outstanding or
(ii) MSD or any Permitted Party may request registration under the Securities Act of all or any portion of their Registrable Securities pursuant to a Registration Statement on Form S-1 or any successor
form thereto (each, a “Long-Form Registration”). Each request for a Long-Form Registration shall specify the number of Registrable Securities requested to be included in the Long-Form Registration. Upon receipt of any such request,
the Company shall promptly (but in no event later than 15 Business Days following receipt thereof) deliver notice of such request to all other holders of Registrable Securities who shall then have 10 Business Days from the date such notice is given
to notify the Company in writing of their desire to be included in such registration. The Company shall prepare and file with (or confidentially submit to) the Commission a Registration Statement on Form S-1
or any successor form thereto covering all of the Registrable Securities that the holders thereof have requested to be included in such Long-Form Registration within 15 Business Days after the date on which the initial request is given and shall use
its reasonable efforts to cause such Registration Statement to be declared effective by the Commission as soon as practicable thereafter. The Company shall not be required to effect a Long-Form Registration more than three (3) times for the
holders of Registrable Securities as a group; provided, that a Registration Statement shall not count as a Long-Form Registration requested under this Section 2(a) unless and until it has become effective and the holders requesting such
registration are able to register and sell at least 75% of the Registrable Securities requested to be included in such registration. 
 (b)
After an IPO, the Company shall use its reasonable efforts to qualify and remain qualified to register the offer and sale of securities under the Securities Act pursuant to a Registration Statement on Form S-3
or any successor form thereto. At such time as the Company shall have qualified for the use of a Registration Statement on Form S-3 or any successor form thereto, the holders of Registrable Securities shall
have the right to request an unlimited number of registrations under the Securities Act of all or any portion of their Registrable Securities pursuant to a Registration Statement on Form S-3 or any similar
short-form Registration Statement (each, a “Short-Form Registration” and, together with each Long-Form Registration and Shelf Registration (as defined below), a “Demand Registration”). Each request for a Short-Form
Registration shall specify the number of Registrable Securities requested to be included in the 

  
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Short-Form Registration. Upon receipt of any such request (other than a request by MSD or a Permitted Party that is not an underwritten offering), the Company shall promptly (but in no event
later than 15 Business Days following receipt thereof) deliver notice of such request to all other holders of Registrable Securities who shall then have 15 Business Days from the date such notice is given to notify the Company in writing of their
desire to be included in such registration. The Company shall prepare and file with (or confidentially submit to) the Commission a Registration Statement on Form S-3 or any successor form thereto covering all
of the Registrable Securities that the holders thereof have requested to be included in such Short-Form Registration within 15 Business Days after the date on which the initial request is given and shall use its reasonable efforts to cause such
Registration Statement to be declared effective by the Commission as soon as practicable thereafter. 
 (c) As soon as practicable following
such time as the Company shall have qualified for the use of a Registration Statement on Form S-3 or the then appropriate form for an offering to be made on a delayed or continuous basis pursuant to Rule 415
under the Securities Act or any successor rule thereto, the Company shall file a Registration Statement on Form S-3 or the then appropriate form for an offering to be made on a delayed or continuous basis
pursuant to Rule 415 under the Securities Act or any successor rule thereto (or, in the event that the Company does not become qualified for the use of a Registration Statement on Form S-3 or the then
appropriate form for an offering to be made on a delayed or continuous basis pursuant to Rule 415 under the Securities Act or any successor rule thereto within one (1) year following the consummation of an IPO, a Registration Statement on Form S-1) (a “Shelf Registration Statement”) for registration under the Securities Act of all or any portion of the Registrable Securities held by the holders thereof for an offering on a delayed or
continuous basis pursuant to Rule 415 under the Securities Act or any successor rule thereto (a “Shelf Registration”) and shall use its commercially reasonable efforts to cause the same to be declared effective by the Commission as
promptly as practicable after such filing. Each Shelf Registration Statement shall specify the number of Registrable Securities requested to be included in the Shelf Registration. Prior to the filing of such Shelf Registration Statement, the Company
shall deliver notice of such proposed registration to all holders of Registrable Securities who shall then have 15 Business Days from the date such notice is given to notify the Company in writing of their desire to be included in such registration.
The Shelf Registration Statement shall cover all of the Registrable Securities that the holders thereof have requested to be included in such Shelf Registration. For the avoidance of doubt, any Shelf Registration Statement shall provide for the
resale of Registrable Securities from time to time by and pursuant to any method or combination of methods legally available to the holders of Registrable Securities (including an underwritten offering, a direct sale to purchasers, a sale to or
through brokers, dealers or agents, block trades, derivative transactions with third parties, sales in connection with short sales and other hedging transactions); provided that, the holders of Registrable Securities shall comply with the applicable
provisions of the Securities Act with respect to the distribution of Registrable Securities covered by the Shelf Registration in accordance with the intended methods of disposition. The Company shall be required to maintain the effectiveness of such
Shelf Registration for as long as there are Registrable Securities registered thereunder. 

  
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 (d) The Company shall not be obligated to effect any Long-Form Registration (i) within
180 days after the effective date of a previous Long-Form Registration or a previous Piggyback Registration in which holders of Registrable Securities were permitted to register the offer and sale under the Securities Act, and actually sold, all of
the shares of Registrable Securities requested to be included therein and (ii) during the period any applicable restrictions are still in effect pursuant to any Lock-Up Agreement that have not been waived
(or are not reasonably expected to be waived) by the underwriters party thereto. 
 (e) The Company may postpone for up to 90 days the filing
or effectiveness of a Registration Statement for a Demand Registration or the filing of a shelf supplement for a shelf takedown (a “Shelf Supplement”) or a supplement for the purpose of effecting an offering pursuant to Rule 415
under the Securities Act or any successor rule thereto (a “Shelf Takedown”) if the Board determines in its reasonable good faith judgment that such Demand Registration or Shelf Takedown would (i) materially interfere with a
significant acquisition, corporate organization, financing, securities offering or other similar transaction involving the Company; (ii) require premature disclosure of material information that the Company has a bona fide business purpose for
preserving as confidential; or (iii) render the Company unable to comply with requirements under the Securities Act or Exchange Act; provided, that in such event the holders of a majority of the Registrable Securities initiating such
Demand Registration or Shelf Takedown shall be entitled to withdraw such request and, if such request for a Demand Registration is withdrawn, such Demand Registration shall not count as one of the permitted Demand Registrations hereunder and the
Company shall pay all registration expenses in connection with such registration. The Company may delay a Demand Registration or Shelf Takedown hereunder only once in any period of 12 consecutive months. 

(f) If the holders of the Registrable Securities initially requesting a Demand Registration or Shelf Takedown elect to distribute the
Registrable Securities covered by their request in an underwritten offering, they shall so advise the Company as a part of their request made pursuant to Section 2 and the Company shall include such information in its notice to the other
holders of Registrable Securities. The holders of a majority of the Registrable Securities initially requesting the Demand Registration or Shelf Takedown shall select the investment banking firm or firms to act as the managing underwriter or
underwriters in connection with such offering; provided, that such selection shall be subject to the consent of the Company, which consent shall not be unreasonably withheld or delayed. If the holders of the Registrable Securities initially
requesting a Demand Registration or Shelf Takedown elect to distribute the Registrable Securities covered by their request in an underwritten block trade or bought deal pursuant to a Registration Statement on Form
S-3 (each, an “Underwritten Block Trade”), then notwithstanding the time periods set forth in this Section 2, the requesting holders may notify the Company of the
Underwritten Block Trade not less than two (2) Business Days prior to the day such offering is first anticipated to commence. The Company will promptly notify the other holders of Registrable Securities of such Underwritten Block trade and such
notified holders (each, a “Potential Participant”) may elect whether or not to participate no later than the next Business Day (i.e. one (1) Business Day prior to the day such offering is to commence) (unless a longer period is
agreed to the requesting holders of Registrable Securities initiating the Underwritten Block Trade), and the Company will as expeditiously as possible use its commercially reasonable efforts to facilitate such Underwritten Block Trade (which may
close as early as two (2) Business Days after the date it commences). Notwithstanding the foregoing, the Company covenants not to provide notice of any Underwritten Block Trade to any Preferred Investor if such Preferred Investor notifies the
Company in writing that it has elected not to receive any notices of any Underwritten Block Trades, which election may be revoked at any time by such Preferred Investor. 

  
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 (g) The Company shall not include in any Demand Registration or Shelf Takedown any
securities which are not Registrable Securities without the prior written consent of the holders of a majority of the Registrable Securities included in such Demand Registration or Shelf Takedown, which consent shall not be unreasonably withheld or
delayed. If a Demand Registration or Shelf Takedown involves an underwritten offering and the managing underwriter of the requested Demand Registration or Shelf Takedown advises the Company and the holders of Registrable Securities in writing that
in its reasonable and good faith opinion the number of shares of Common Stock proposed to be included in the Demand Registration or Shelf Takedown, including all Registrable Securities and all other shares of Common Stock proposed to be included in
such underwritten offering, exceeds the number of shares of Common Stock which can be sold in such underwritten offering and/or the number of shares of Common Stock proposed to be included in such Demand Registration or Shelf Takedown would
adversely affect the price per share of Common Stock proposed to be sold in such underwritten offering, the Company shall include in such Demand Registration or Shelf Takedown (i) first, the number of shares of Common Stock that the holders of
Registrable Securities propose to sell, and (ii) second, the number of shares of Common Stock proposed to be included therein by any other Persons (including shares of Common Stock to be sold for the account of the Company and/or other holders
of Common Stock) allocated among such Persons in such manner as they may agree. If the managing underwriter determines that less than all of the Registrable Securities proposed to be sold can be included in such offering, then the Registrable
Securities that are included in such offering shall be allocated pro rata among the respective holders thereof on the basis of the number of Registrable Securities owned by each such holder. 

3. Piggyback Registration. 

(a) Whenever the Company proposes to register the offer and sale of any of its Common Stock under the Securities Act (other than a registration
(i) pursuant to a Registration Statement on Form S-8 (or other registration solely relating to an offering or sale to employees or directors of the Company pursuant to any employee stock plan or other
employee benefit arrangement), (ii) pursuant to a Registration Statement on Form S-4 (or similar form that relates to a transaction subject to Rule 145 under the Securities Act or any successor rule thereto),
or (iii) in connection with any dividend or distribution reinvestment or similar plan), whether for its own account or for the account of one or more stockholders of the Company and the form of Registration Statement (a “Piggyback
Registration Statement”) to be used may be used for any registration of Registrable Securities (a “Piggyback Registration”), the Company shall give prompt written notice (in any event no later than 10 Business Days prior to
the filing of such Registration Statement) to the holders of Registrable Securities of its intention to effect such a registration and, subject to Section 3(b) and Section 3(c), shall include in such registration all Registrable Securities
with respect to which the Company has received written requests for inclusion from the holders of Registrable Securities within 10 Business Days after the Company’s notice has been given to each such holder; provided, that the Company covenants
not to provide such notice to any Preferred Investor if such Preferred Investor notifies the Company in writing that it has elected not to receive any notices of any Piggyback Registrations, which election may be revoked at any time by such
Preferred Investor. The Company may postpone or withdraw the filing or the effectiveness of a Piggyback Registration at any time in its sole discretion. A Piggyback Registration shall not be considered a Demand Registration for purposes of
Section 2. If any Piggyback Registration Statement pursuant to which holders of Registrable Securities have 

  
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registered the offer and sale of Registrable Securities is a Registration Statement on Form S-3 or the then appropriate form for an offering to be made on
a delayed or continuous basis pursuant to Rule 415 under the Securities Act or any successor rule thereto (a “Piggyback Shelf Registration Statement”), such holder(s) shall have the right, but not the obligation, to be notified of
and to participate in any offering under such Piggyback Shelf Registration Statement (a “Piggyback Shelf Takedown”). 
 (b)
If a Piggyback Registration or Piggyback Shelf Takedown is initiated as a primary underwritten offering on behalf of the Company and the managing underwriter advises the Company and the holders of Registrable Securities (if any holders of
Registrable Securities have elected to include Registrable Securities in such Piggyback Registration or Piggyback Shelf Takedown) in writing that in its reasonable and good faith opinion the number of shares of Common Stock proposed to be included
in such registration or takedown, including all Registrable Securities and all other shares of Common Stock proposed to be included in such underwritten offering, exceeds the number of shares of Common Stock which can be sold in such offering and/or
that the number of shares of Common Stock proposed to be included in any such registration or takedown would adversely affect the price per share of Common Stock to be sold in such offering, the Company shall include in such registration or takedown
(i) first, the number of shares of Common Stock that the Company proposes to sell; (ii) second, the number of shares of Common Stock requested to be included therein by holders of Registrable Securities, allocated pro rata among all such
holders on the basis of the number of Registrable Securities owned by each such holder or in such manner as they may otherwise agree; and (iii) third, the number of shares of Common Stock requested to be included therein by holders of Common
Stock other than holders of Registrable Securities, allocated among such holders in such manner as they may agree. 
 (c) If a Piggyback
Registration or Piggyback Shelf Takedown is initiated as an underwritten offering on behalf of a holder of Common Stock other than Registrable Securities, and the managing underwriter advises the Company in writing that in its reasonable and good
faith opinion the number of shares of Common Stock proposed to be included in such registration or takedown, including all Registrable Securities and all other shares of Common Stock proposed to be included in such underwritten offering, exceeds the
number of shares of Common Stock which can be sold in such offering and/or that the number of shares of Common Stock proposed to be included in any such registration or takedown would adversely affect the price per share of Common Stock to be sold
in such offering, the Company shall include in such registration or takedown (i) first, the number of shares of Common Stock requested to be included therein by the holder(s) requesting such registration or takedown and by the holders of
Registrable Securities, allocated pro rata among all such holders on the basis of the number of shares of Common Stock other than the Registrable Securities (on a fully diluted, as converted basis) and the number of Registrable Securities, as
applicable, owned by all such holders or in such manner as they may otherwise agree; and (ii) second, the number of shares of Common Stock requested to be included therein by other holders of Common Stock, allocated among such holders in such
manner as they may agree. 
 (d) If any Piggyback Registration or Piggyback Shelf Takedown is initiated as a primary underwritten offering on
behalf of the Company, the Company shall select the investment banking firm or firms to act as the managing underwriter or underwriters in connection with such offering. 

  
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 4. Lock-Up Agreement. Each holder of
Registrable Securities agrees that in connection with any registered offering of the Common Stock or other equity securities of the Company that constitutes an IPO, and upon the request of the managing underwriter in such offering, such holder shall
not, without the prior written consent of such managing underwriter, during the 15 Business Days prior to the effective date of such registration and until the date specified by such managing underwriter (such period not to exceed 180 days following
the pricing in the case of any registration under the Securities Act), (a) offer, pledge, sell, contract to sell, grant any option or contract to purchase, purchase any option or contract to sell, hedge the beneficial ownership of or otherwise
dispose of, directly or indirectly, any Common Stock or any securities convertible into, exercisable for or exchangeable for Common Stock (whether such shares or any such securities are then owned by the holder or are thereafter acquired), or
(b) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of such securities, whether any such transaction described in clause (a) or (b) above is to be
settled by delivery of Common Stock or such other securities, in cash or otherwise. The foregoing provisions of this Section 4 shall not apply to sales of Registrable Securities to be included in such offering pursuant to Section 2(a),
Section 2(b), Section 2(c), Section 2(d), or Section 3(a), and shall be applicable to the holders of Registrable Securities only if all executive officer and directors of the Company and all stockholders of the Company’s
outstanding shares of Common Stock are subject to the same restrictions. Notwithstanding the foregoing, following any Demand Registration or Piggyback Registration involving an underwritten public offering, the Company shall cause each of its
directors and executive officers to enter into customary lock-up agreements with the managing underwriter of such underwritten offering, pursuant to which such holders shall not, without the prior written
consent of the managing underwriter, during the 15 Business Days prior to the effective date of such registration and until the date specified by such managing underwriter (such period not to exceed 90 days following the closing of such offering),
(i) offer, pledge, sell, contract to sell, grant any option or contract to purchase, purchase any option or contract to sell, hedge the beneficial ownership of or otherwise dispose of, directly or indirectly, any Common Stock or any securities
convertible into, exercisable for or exchangeable for Common Stock (whether such shares or any such securities are then owned by the holder or are thereafter acquired), or (ii) enter into any swap or other arrangement that transfers to another,
in whole or in part, any of the economic consequences of ownership of such securities, whether any such transaction described in clause (i) or (ii) above is to be settled by delivery of Common Stock or such other securities, in cash or
otherwise. Each holder of Registrable Securities agrees to execute and deliver such other agreements as may be reasonably requested by the Company or the managing underwriter which are consistent with the foregoing or which are necessary to give
further effect thereto; provided that, the Preferred Investors shall only be required to enter into lock-up agreements if they are participating in an underwritten Piggyback Shelf Takedown, in which case the
Preferred Investors may be required to enter into lock-up agreements that are no more onerous than the lock-up agreements being entered into by other holders of the
Company’s outstanding shares of Common Stock in connection with such underwritten Piggyback Shelf Takedown, and only to the extent that Snapdragon Capital Partners and its Affiliates who hold Common Stock, all directors and executive officers
of the Company and all holders of five percent (5%) or more of the Company’s outstanding Common Stock (calculated on an as-converted basis) who participate in such underwritten Piggyback Shelf Takedown
have entered into such lock-up agreements. Notwithstanding anything to the contrary contained in this Section 4, each holder of Registrable Securities shall be released, pro rata, from any lock-up agreement entered into pursuant to this Section 4 in the event and to the extent that the managing underwriter or the Company permit any discretionary waiver or termination of the restrictions of any lock-up agreement pertaining to any executive officer, director or holder of greater than 1% of the outstanding shares of Common Stock. 

  
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 5. Registration Procedures. If and whenever the holders of Registrable Securities
request that the offer and sale of any Registrable Securities be registered under the Securities Act or any Registrable Securities be distributed in a Shelf Takedown pursuant to the provisions of this Agreement, the Company shall use its reasonable
efforts to effect the registration of the offer and sale of such Registrable Securities under the Securities Act in accordance with the intended method of disposition thereof, and pursuant thereto the Company shall as soon as reasonably practicable
and as applicable: 
 (a) subject to Section 2(a), Section 2(b) and Section 2(c), prepare and file with the Commission a Registration
Statement covering such Registrable Securities and use its reasonable efforts to cause such Registration Statement to be declared effective; 

(b) prepare and file with the Commission such amendments, post-effective amendments and supplements to such Registration Statement and the
Prospectus used in connection therewith as may be necessary to keep such Registration Statement effective for a period of not less than 90 days, or if earlier, until all of such Registrable Securities have been disposed of and to comply with the
provisions of the Securities Act with respect to the disposition of such Registrable Securities in accordance with the intended methods of disposition set forth in such Registration Statement; 

(c) within a reasonable time before filing such Registration Statement, Prospectus or amendments or supplements thereto with the Commission,
furnish to one counsel selected by holders of each of a majority of such Registrable Securities and a majority of the Preferred Stock copies of such documents proposed to be filed, which documents shall be subject to the review, comment and approval
of such counsel; 
 (d) notify each selling holder of Registrable Securities, promptly after the Company receives notice thereof, of the time
when such Registration Statement has been declared effective or a supplement, including a Shelf Supplement, to any Prospectus forming a part of such Registration Statement has been filed with the Commission; 

(e) furnish to each selling holder of Registrable Securities such number of copies of the Prospectus included in such Registration Statement
(including each preliminary Prospectus) and any supplement thereto, including a Shelf Supplement (in each case including all exhibits and documents incorporated by reference therein), and such other documents as such seller may reasonably request in
order to facilitate the disposition of the Registrable Securities owned by such seller; 
 (f) use its reasonable efforts to register or
qualify such Registrable Securities under such other securities or “blue sky” laws of such jurisdictions as any selling holder reasonably requests and do any and all other acts and things which may be reasonably necessary or advisable to
enable such holders to consummate the disposition in such jurisdictions of the Registrable Securities owned by such holders; provided, that the Company shall not be required to qualify generally to do business, subject itself to general
taxation or consent to general service of process in any jurisdiction where it would not otherwise be required to do so but for this Section 5(f); 

  
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 (g) notify each selling holder 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 that would cause the Prospectus included in such Registration Statement to contain an untrue statement of a material fact or omit any fact necessary
in order to make the statements made therein, in light of the circumstances under which they were made, not misleading, and, at the request of any such holder, 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, in light of the circumstances under
which they were made, not misleading; 
 (h) make available for inspection by any selling holder 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 holder or underwriter (collectively, the “Inspectors”), all financial and other records,
pertinent corporate documents and properties of the Company (collectively, the “Records”), and cause the Company’s officers, directors and employees to supply all information reasonably requested by any such Inspector in
connection with such Registration Statement; 
 (i) provide a transfer agent and registrar (which may be the same entity) for all such
Registrable Securities not later than the effective date of such registration; 
 (j) use its reasonable efforts to cause such Registrable
Securities to be listed on each securities exchange on which the Common Stock is then listed or, if the Common Stock is not then listed, on a national securities exchange selected by the holders of a majority of such Registrable Securities; 

(k) in connection with an underwritten offering, enter into such customary agreements (including underwriting and lock-up agreements in customary form) and take all such other customary actions as the holders of such Registrable Securities or the managing underwriter of such offering reasonably request in order to expedite or
facilitate the disposition of such Registrable Securities (including, without limitation, making appropriate officers of the Company available to participate in “road show” and other customary marketing activities (including one-on-one meetings with prospective purchasers of the Registrable Securities)); 

(l) otherwise use its reasonable to comply with all applicable rules and regulations of the Commission and make available to its stockholders
an earnings statement (in a form that satisfies the provisions of Section 11(a) of the Securities Act and Rule 158 under the Securities Act or any successor rule thereto) no later than thirty (30) days after the end of the 12-month period
beginning with the first day of the Company’s first full fiscal quarter after the effective date of such Registration Statement, which earnings statement shall cover said 12-month period, and which
requirement will be deemed to be satisfied if the Company timely files complete and accurate information on Forms 10-K, 10-Q and
8-K under the Exchange Act and otherwise complies with Rule 158 under the Securities Act or any successor rule thereto; and 

  
 11 

 (m) furnish to each selling holder of Registrable Securities and each underwriter, if any,
with (i) a written legal opinion of the Company’s outside counsel, dated the closing date of the offering, in form and substance as is customarily given in opinions of the Company’s counsel to underwriters in underwritten registered
offerings; and (ii) on the date of the applicable Prospectus, on the effective date of any post-effective amendment to the applicable Registration Statement and at the closing of the offering, dated the respective dates of delivery thereof, a
“comfort” letter signed by the Company’s independent certified public accountants in form and substance as is customarily given in accountants’ letters to underwriters in underwritten registered offerings; 

(n) without limiting Section 5(f), use its reasonable efforts to cause such Registrable Securities to be registered with or approved by
such other governmental agencies or authorities as may be necessary by virtue of the business and operations of the Company to enable the holders of such Registrable Securities to consummate the disposition of such Registrable Securities in
accordance with their intended method of distribution thereof; 
 (o) notify the holders of Registrable Securities promptly of any request by
the Commission for the amending or supplementing of such Registration Statement or Prospectus or for additional information; 
 (p) advise
the holders of Registrable Securities, promptly after it shall receive notice or obtain knowledge thereof, of the issuance of any stop order by the Commission suspending the effectiveness of such Registration Statement or the initiation or
threatening of any proceeding for such purpose and promptly use its reasonable efforts to prevent the issuance of any stop order or to obtain its withdrawal at the earliest possible moment if such stop order should be issued; 

(q) 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” (within the meaning of Section 15 of the Securities Act and Section 20 of the Exchange Act) (a “Controlling Person”) of the Company, to participate in the preparation of such Registration
Statement and to require the insertion therein of language, furnished to the Company in writing, which in the reasonable judgment of such holder and its counsel should be included; 

(r) cooperate with the holders of the Registrable Securities to facilitate the timely preparation and delivery of certificates representing the
Registrable Securities to be sold pursuant to such Registration Statement or Rule 144 free of any restrictive legends and representing such number of shares of Common Stock and registered in such names as the holders of the Registrable Securities
may reasonably request a reasonable period of time prior to sales of Registrable Securities pursuant to such Registration Statement or Rule 144; provided, that the Company may satisfy its obligations hereunder without issuing physical stock
certificates through the use of The Depository Trust Company’s Direct Registration System (the “DTCDRS”); 

  
 12 

 (s) not later than the effective date of such Registration Statement, provide a CUSIP number
for all Registrable Securities and provide the applicable transfer agent with printed certificates for the Registrable Securities which are in a form eligible for deposit with The Depository Trust Company; provided, that the Company may
satisfy its obligations hereunder without issuing physical stock certificates through the use of the DTCDRS; 
 (t) take no direct or
indirect action prohibited by Regulation M under the Exchange Act; provided, that, to the extent that any prohibition is applicable to the Company, the Company will take all reasonable action to make any such prohibition inapplicable; 

(u) make appropriate representations and warranties in any underwriting agreement to be entered into by the Company in connection with such
offering; and 
 (v) otherwise use its reasonable efforts to take all other steps necessary to effect the registration of such Registrable
Securities contemplated hereby. 
 6. Expenses. All expenses (other than Selling Expenses) incurred by the Company in complying with
its obligations pursuant to this Agreement and in connection with the registration and disposition of Registrable Securities shall be paid by the Company, including, without limitation, all (i) registration and filing fees (including, without
limitation, any fees relating to filings required to be made with, or the listing of any Registrable Securities on, any securities exchange or over-the-counter trading
market on which the Registrable Securities are listed or quoted); (ii) underwriting expenses (other than fees, commissions or discounts); (iii) expenses of any audits incident to or required by any such registration; (iv) fees and expenses of
complying with securities and “blue sky” laws (including, without limitation, fees and disbursements of counsel for the Company in connection with “blue sky” qualifications or exemptions of the Registrable Securities); (v)
printing expenses; (vi) messenger, telephone and delivery expenses; (vii) fees and expenses of the Company’s counsel and accountants; (viii) Financial Industry Regulatory Authority, Inc. filing fees (if any); and
(ix) reasonable fees and expenses of one counsel for the holders of Registrable Securities participating in such registration as a group (selected by, in the case of a registration under Section 2(a), the holders of a majority of the
Registrable Securities initially requesting such registration, and, in the case of all other registrations hereunder, the holders of a majority of the Registrable Securities included in the registration). In addition, the Company shall be
responsible for all of its internal expenses incurred in connection with the consummation of the transactions contemplated by this Agreement (including, without limitation, all salaries and expenses of its officers and employees performing legal or
accounting duties) and the expense of any annual audits. All Selling Expenses relating to the offer and sale of Registrable Securities registered under the Securities Act pursuant to this Agreement shall be borne and paid by the holders of such
Registrable Securities, in proportion to the number of Registrable Securities included in such registration for each such holder. 
 7.
Indemnification. 
 (a) The Company shall indemnify and hold harmless, to the fullest extent permitted by law, each holder of
Registrable Securities, such holder’s officers, directors, managers, members, partners, stockholders and Affiliates, each underwriter, broker or any other Person acting on behalf of such holder of Registrable Securities and each other
Controlling Person, if any, 

  
 13 

 
who controls any of the foregoing Persons, against all losses, claims, actions, damages, liabilities and expenses, joint or several, to which any of the foregoing Persons may become subject under
the Securities Act or otherwise, insofar as such losses, claims, actions, damages, liabilities or expenses arise out of or are based upon any untrue or alleged untrue statement of a material fact contained in any Registration Statement, Prospectus,
preliminary Prospectus, free writing prospectus (as defined in Rule 405 under the Securities Act or any successor rule thereto) or any amendment thereof or supplement thereto or any omission or alleged omission of a material fact required to be
stated therein or necessary to make the statements therein (in the case of a Prospectus, preliminary Prospectus or free writing prospectus, in light of the circumstances under which they were made) not misleading; and shall reimburse such Persons
for any legal or other expenses reasonably incurred by any of them in connection with investigating or defending any such loss, claim, action, damage or liability; provided, however, that the Company shall not be liable to any such
indemnified party insofar as the same are caused by or contained in any information furnished in writing to the Company by such holder expressly for use therein or by such holder’s failure to deliver a copy of the Registration Statement,
Prospectus, preliminary Prospectus, free writing prospectus (as defined in Rule 405 under the Securities Act or any successor rule thereto) or any amendments or supplements thereto (if the same was required by applicable law to be so delivered)
after the Company has furnished such holder with a sufficient number of copies of the same prior to any written confirmation of the sale of Registrable Securities. This indemnity shall be in addition to any liability the Company may otherwise have.

 (b) In connection with any registration in which a holder of Registrable Securities is participating, each such holder shall furnish to
the Company in writing such information as the Company reasonably requests for use in connection with any such Registration Statement or Prospectus and, to the extent permitted by law, shall indemnify and hold harmless, the Company, each director of
the Company, each officer of the Company who shall sign such Registration Statement, each underwriter, broker or other Person acting on behalf of the holders of Registrable Securities and each Controlling Person who controls any of the foregoing
Persons against any losses, claims, actions, damages, liabilities or expenses resulting from any untrue or alleged untrue statement of material fact contained in the Registration Statement, Prospectus, preliminary Prospectus, free writing prospectus
(as defined in Rule 405 under the Securities Act or any successor rule thereto) or any amendment thereof or supplement thereto or any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements
therein (in the case of a Prospectus, preliminary Prospectus or free writing prospectus, in light of the circumstances under which they were made) not misleading, but only to the extent that such untrue statement or omission is made in reliance upon
and in conformity with any information regarding such holder of Registrable Securities or any of its Affiliates that was furnished in writing by such holder or its Affiliates expressly for inclusion in such Registration Statement; provided,
that the obligation to indemnify shall be several, not joint and several, for each holder and shall not exceed an amount equal to the net proceeds (after underwriting fees, commissions or discounts) actually received by such holder from the sale of
Registrable Securities pursuant to such Registration Statement. This indemnity shall be in addition to any liability the selling holder may otherwise have. 

  
 14 

 (c) Promptly after receipt by an indemnified party of notice of the commencement of any
action involving a claim referred to in this Section 7, such indemnified party shall, if a claim in respect thereof is made against an indemnifying party, give written notice to the latter of the commencement of such action. The failure of any
indemnified party to notify an indemnifying party of any such action shall not (unless such failure shall have a material adverse effect on the indemnifying party) relieve the indemnifying party from any liability in respect of such action that it
may have to such indemnified party hereunder. In case any such action is brought against an indemnified party, the indemnifying party shall be entitled to participate in and to assume the defense of the claims in any such action that are subject or
potentially subject to indemnification hereunder, jointly with any other indemnifying party similarly notified to the extent that it may wish, with counsel reasonably satisfactory to such indemnified party, and after written notice from the
indemnifying party to such indemnified party of its election so to assume the defense thereof, the indemnifying party shall not be responsible for any legal or other expenses subsequently incurred by the indemnified party in connection with the
defense thereof; provided, that, if (i) any indemnified party shall have reasonably concluded that there may be one or more legal or equitable defenses available to such indemnified party which are additional to or conflict with those available
to the indemnifying party, or that such claim or litigation involves or could have an effect upon matters beyond the scope of the indemnity provided hereunder, or (ii) such action seeks an injunction or equitable relief against any indemnified
party or involves actual or alleged criminal activity, the indemnifying party shall not have the right to assume the defense of such action on behalf of such indemnified party without such indemnified party’s prior written consent (but, without
such consent, shall have the right to participate therein with counsel of its choice) and such indemnifying party shall reimburse such indemnified party and any Controlling Person of such indemnified party for that portion of the fees and expenses
of any counsel retained by the indemnified party which is reasonably related to the matters covered by the indemnity provided hereunder. If the indemnifying party is not entitled to, or elects not to, assume the defense of a claim, it shall not be
obligated to pay the fees and expenses of more than one counsel for all parties indemnified by such indemnifying party with respect to such claim, unless in the reasonable judgment of any indemnified party a conflict of interest may exist between
such indemnified party and any other of such indemnified parties with respect to such claim. In such instance, the conflicting indemnified parties shall have a right to retain one separate counsel, chosen by the holders of a majority of the
Registrable Securities included in the registration, at the expense of the indemnifying party. 
 (d) If the indemnification provided for
hereunder is held by a court of competent jurisdiction to be unavailable to an indemnified party with respect to any loss, claim, damage, liability or action referred to herein, then the indemnifying party, in lieu of indemnifying such indemnified
party hereunder, shall contribute to the amounts paid or payable by such indemnified party as a result of such loss, claim, damage, liability or action in such proportion as is appropriate to reflect the relative fault of the indemnifying party on
the one hand and of the indemnified party on the other in connection with the statements or omissions which resulted in such loss, claim, damage, liability or action as well as any other relevant equitable considerations; provided, that the
maximum amount of liability in respect of such contribution shall be limited, in the case of each holder of Registrable Securities, to an amount equal to the net proceeds (after underwriting fees, commissions or discounts) actually received by such
seller from the sale of Registrable Securities effected pursuant to such registration. The relative fault of the indemnifying party and of the indemnified party shall be determined 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 by the indemnified party, whether the violation of the Securities Act or any other similar
federal or 

  
 15 

 
state securities laws or rule or regulation promulgated thereunder applicable to the Company and relating to action or inaction required of the Company in connection with any applicable
registration, qualification or compliance was perpetrated by the indemnifying party or the indemnified party and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission.
The parties agree that it would not be just and equitable if contribution pursuant hereto were determined by pro rata allocation or by any other method or allocation which does not take account of the equitable considerations referred to herein. No
Person guilty or liable of fraudulent misrepresentation within the meaning of Section 11(f) of the Securities Act shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. 

8. Participation in Underwritten Registrations. No Person may participate in any registration hereunder which is underwritten unless
such Person (a) agrees to sell such Person’s securities on the basis provided in any underwriting arrangements approved by the Person or Persons entitled hereunder to approve such arrangements and (b) 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, such holder’s ownership of its Common Stock to be sold in the offering
and such holder’s intended method of distribution) or to undertake any indemnification obligations to the Company or the underwriters with respect thereto, except as otherwise provided in Section 7. 

9. Rule 144 Compliance. With a view to making available to the holders of Registrable Securities the benefits of Rule 144 and any other
rule or regulation of the Commission that may at any time permit a holder to sell securities of the Company to the public without registration, the Company shall: 

(a) make and keep public information available, as those terms are understood and defined in Rule 144, at all times after the Registration
Date; 
 (b) use reasonable efforts to file with the Commission in a timely manner all reports and other documents required of the Company
under the Securities Act and the Exchange Act, at any time after the Registration Date; and 
 (c) furnish to any holder so long as the
holder owns Registrable Securities, promptly upon request, a written statement by the Company as to its compliance with the reporting requirements of Rule 144 and of the Securities Act and the Exchange Act, a copy of the most recent annual or
quarterly report of the Company, and such other reports and documents so filed or furnished by the Company as such holder may reasonably request in connection with the sale of Registrable Securities without registration. 

10. Preservation of Rights. The Company shall not (a) grant any registration rights to third parties which are more favorable than
or inconsistent with the rights granted hereunder, or (b) enter into any agreement, take any action, or permit any change to occur, with respect to its securities that violates or subordinates the rights expressly granted to the holders of
Registrable Securities in this Agreement. The Company represents and warrants that it is not a party to, or otherwise subject to, any other agreement granting registration rights to any other Person with respect to any securities of the Company,
other than pursuant to the Purchase Agreement. 

  
 16 

 11. Alternative IPO Entities. In the event that the Company elects to effect an
underwritten registered offering of equity securities of any subsidiary or parent of the Company (collectively, “Alternative IPO Entities”) rather than the equity securities of the Company, whether as a result of a reorganization of
the Company or otherwise, the Investors and the Company shall cause the Alternative IPO Entity to enter into an agreement with the Investors that provides the Investors with registration rights with respect to the equity securities of the
Alternative IPO Entity that are substantially the same as, and in any event no less favorable in the aggregate to, the registration rights provided to the Investors in this Agreement. 

12. Termination. This Agreement shall terminate and be of no further force or effect when there shall no longer be any Registrable
Securities outstanding; provided, that the provisions of Section 6 and Section 7 shall survive any such termination. 
 13.
Notices. All notices, requests, consents, claims, demands, waivers and other communications hereunder shall be in writing and shall be deemed to have been given (a) when delivered by hand (with written confirmation of receipt); (b) when
received by the addressee if sent by a nationally recognized overnight courier (receipt requested); (c) on the date sent by facsimile or e-mail of a PDF document (with confirmation of transmission) if sent
during normal business hours of the recipient, and on the next Business Day if sent after normal business hours of the recipient; or (d) on the third day after the date mailed, by certified or registered mail, return receipt requested, postage
prepaid. Such communications must be sent to the respective parties at the addresses indicated below (or at such other address for a party as shall be specified in a notice given in accordance with this Section 13). 

 

			
	If to the Company:	  	Xponential Fitness, Inc.
		  	Facsimile: [FAX NUMBER]
		  	E-mail: john.meloun@xponential.com
		  	Attention: John Meloun, CFO
		
	with a copy to:	  	Buchalter, P.C.
		  	Facsimile: 213-630-5651
		  	E-mail: jweitz@buchalter.com
		  	Attention: Jeremy Weitz
		
		  	and
		
		  	Davis Polk & Wardwell LLP
		  	Facsimile: [FAX NUMBER]
		  	E-mail:alan.denenberg@davispolk.com
		  	Attention: Alan F. Denenberg

 If to any Investor, to such Investor’s address as set forth on Schedule A hereto. 

  
 17 

 14. Entire Agreement. This Agreement, together with the Purchase Agreement and any
related exhibits and schedules thereto, constitutes the sole and entire agreement of the parties to this Agreement with respect to the subject matter contained herein, and supersedes all prior and contemporaneous understandings and agreements, both
written and oral, with respect to such subject matter. Notwithstanding the foregoing, in the event of any conflict between the terms and provisions of this Agreement and those of the Purchase Agreement, the terms and conditions of this Agreement
shall control. 
 15. Successor and Assigns. This Agreement shall be binding upon and shall inure to the benefit of the parties
hereto and their respective successors and permitted assigns. Each Investor may assign its rights hereunder to any purchaser or transferee of Registrable Securities or Preferred Shares; provided, that such purchaser or transferee shall, as a
condition to the effectiveness of such assignment, be required to execute a counterpart to this Agreement agreeing to be treated as an Investor whereupon such purchaser or transferee shall have the benefits of, and shall be subject to the
restrictions contained in, this Agreement as if such purchaser or transferee was originally included in the definition of an Investor herein and had originally been a party hereto. 

16. No Third-Party Beneficiaries. This Agreement is for the sole benefit of the parties hereto and their respective successors and
permitted assigns and nothing herein, express or implied, is intended to or shall confer upon any other Person any legal or equitable right, benefit or remedy of any nature whatsoever, under or by reason of this Agreement. 

17. Headings. The headings in this Agreement are for reference only and shall not affect the interpretation of this Agreement. 

18. Amendment, Modification and Waiver. Except as otherwise provided herein, the provisions of this Agreement may only be amended,
modified, supplemented or waived with the prior written consent of the Company, the holders of a majority of the Registrable Securities and the holders of a majority of the outstanding shares of Preferred Stock. No waiver by any party or parties
shall operate or be construed as a waiver in respect of any failure, breach or default not expressly identified by such written waiver, whether of a similar or different character, and whether occurring before or after that waiver. Except as
otherwise set forth in this Agreement, no failure to exercise, or delay in exercising, any right, remedy, power or privilege arising from this Agreement shall operate or be construed as a waiver thereof; nor shall any single or partial exercise of
any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege. 

19. Severability. If any term or provision of this Agreement is invalid, illegal or unenforceable in any jurisdiction, such invalidity,
illegality or unenforceability shall not affect any other term or provision of this Agreement or invalidate or render unenforceable such term or provision in any other jurisdiction. Upon such determination that any term or other provision is
invalid, illegal or unenforceable, 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 a mutually acceptable manner in order that the transactions
contemplated hereby be consummated as originally contemplated to the greatest extent possible. 

  
 18 

 20. Remedies. Each holder of Registrable Securities, in addition to being entitled to
exercise all rights granted by law, including recovery of damages, shall be entitled to specific performance of its rights under this Agreement. The Company acknowledges that monetary damages would not be adequate compensation for any loss incurred
by reason of a breach by it of the provisions of this Agreement and the Company hereby agrees to waive the defense in any action for specific performance that a remedy at law would be adequate. 

21. Governing Law; Submission to Jurisdiction. This Agreement shall be governed by and construed in accordance with the internal laws
of the State of Delaware without giving effect to any choice or conflict of law provision or rule (whether of the State of Delaware or any other jurisdiction). Each of the Parties irrevocably agrees that any legal action or proceeding, arising out
of or relating to this Agreement, brought by any other Party or its, his or her successors or assigns will be brought and determined in the Court of Chancery in the State of Delaware or the courts of the United States of America for the District of
Delaware, and the appellate courts of either of the foregoing, and each of the Parties hereby irrevocably submits to the exclusive jurisdiction of the aforesaid courts for itself and with respect to its, his or her property, generally and
unconditionally, with regard to any such action or proceeding arising out of or relating to this Agreement and the transactions contemplated hereby. Each of the Parties agrees not to commence any action, suit or proceeding relating thereto except in
the courts described above in Delaware, other than actions in any court of competent jurisdiction to enforce any judgment, decree or award rendered by any such court in Delaware as described herein. Each of the Parties further agrees that notice as
provided herein will constitute sufficient service of process and the Parties further waive any argument that such service is insufficient. Each of the Parties hereby irrevocably and unconditionally waives, and agrees not to assert, by way of motion
or as a defense, counterclaim or otherwise, in any action or proceeding arising out of or relating to this Agreement or the transactions contemplated hereby, any claim that (i) it, he, or she is not personally subject to the jurisdiction of the
courts in Delaware as described herein for any reason, (ii) it or its, his or her property is exempt or immune from jurisdiction of any such court or from any legal process commenced in such courts (whether through service of notice, attachment
prior to judgment, attachment in aid of execution of judgment, execution of judgment or otherwise), or (iii) (A) the suit, action or proceeding in any such court is brought in an inconvenient forum, (B) the venue of such suit, action or
proceeding is improper or (C) this Agreement, or the subject matter hereof, may not be enforced in or by such courts. 
 22.
Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed to be an original, but all of which together shall be deemed to be one and the same agreement. A signed copy of this Agreement delivered by facsimile,
e-mail or other means of electronic transmission shall be deemed to have the same legal effect as delivery of an original signed copy of this Agreement. 

23. Further Assurances. Each of the parties to this Agreement shall, and shall cause their Affiliates to, execute and deliver such
additional documents, instruments, conveyances and assurances and take such further actions as may be reasonably required to carry out the provisions hereof and to give effect to the transactions contemplated hereby. 

[SIGNATURE PAGE FOLLOWS] 

  
 19 

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

			
	XPONENTIAL FITNESS, INC.

 
			
		
	By	 	
        

			
	Name:
	Title:
	
	[INVESTOR NAME]

 
			
		
	By	 	  

 
			
	Name:
	Title:

  
 20 

 Schedule A 

Investors 
 Existing Investors 

[to include the current Key Holders of H&W Franchise Holdings, LLC] 

Preferred Investors 
 [MSD Partners, L.P. 

Redwood 
 DE Shaw] 

c/o MSD Partners, L.P. 
 645 Fifth Avenue, 21st Floor 
 New York, NY 10022 

Attention: Jeremy Herz, Simon Crocker, Ken Gerold 

jherz@msdpartners.com, scrocker@msdpartners.com, kgerold@msdpartners.com 

[Redwood] 
 [DE Shaw] 

  
 21EX-10.16

 Exhibit 10.16 

FORM OF XPONENTIAL FITNESS, INC. 

OMNIBUS INCENTIVE PLAN 

Section 1. Purpose. The purpose of the Xponential Fitness, Inc. Omnibus Incentive Plan (as amended from time to time, the
“Plan”) is to motivate and reward employees and other individuals to perform at the highest level and contribute significantly to the success of Xponential Fitness, Inc. (the “Company”), thereby furthering the best
interests of the Company and its shareholders. 
 Section 2. Definitions. As used in the Plan, the following terms shall have
the meanings set forth below: 
 (a) “Affiliate” means any entity that, directly or indirectly through one or more
intermediaries controls, is controlled by or is under common control with, the Company. 
 (b) “Award” means any Option,
SAR, Restricted Stock, RSU, Performance Award, Other Cash-Based Award or Other Stock-Based Award granted under the Plan. 
 (c)
“Award Agreement” means any agreement, contract or other instrument or document (including in electronic form) evidencing any Award granted under the Plan, which may, but need not, be executed or acknowledged by a Participant. 

(d) “Beneficial Owner” has the meaning ascribed to such term in Rule 13d-3 under the
Exchange Act. 
 (e) “Beneficiary” means a Person entitled to receive payments or other benefits or exercise rights that
are available under the Plan in the event of a Participant’s death. If no such Person can be named or is named by a Participant, or if no Beneficiary designated by a Participant is eligible to receive payments or other benefits or exercise
rights that are available under the Plan at a Participant’s death, such Participant’s Beneficiary shall be such Participant’s estate. 

(f) “Board” means the Board of Directors of the Company. 

(g) “Cause” is as defined in the Participant’s Service Agreement, if any, or if not so defined, means the
Participant’s: (i) failure to substantially perform duties (other than any such breach or failure due to Participant’s physical or mental illness) and the continuance of such failure for more than 30 days following Participant’s
receipt of written notice from the Company; (ii) failure to cooperate, if reasonably requested by the Company, with any investigation or inquiry into Participant’s or the Company’s business practices, whether internal or external,
including, but not limited to, Participant’s refusal to be deposed or to provide testimony at any trial or inquiry and the continuance of such failure for more than 30 days following Participant’s receipt of written notice from the
Company, which notice shall set forth in reasonable detail the facts or circumstances constituting such failure; (iii) engaging in fraud, willful misconduct, or dishonesty that has caused or is reasonably expected to result in material injury
to the Company; (iv) material breach of any fiduciary duty owed to the Company; (v) conviction of, or entering a plea of guilty or nolo contendere to, a crime that constitutes a felony (other than a DUI or similar felony); or
(vi) material breach of any of Participant’s obligations under any written agreement or covenant with the Company or any of its affiliates. 

 (h) “Change in Control” means the occurrence of any one or more of the
following events: 
 (i) any Person, other than (A) any employee plan established by the Company or any Subsidiary,
(B) the Company or any of its Affiliates, (C) an underwriter temporarily holding securities pursuant to an offering of such securities, or (D) an entity owned, directly or indirectly, by shareholders of the Company in substantially
the same proportions as their ownership of the Company, acquires, in one or a series of transactions, the Beneficial Ownership, directly or indirectly, of securities of the Company (not including in the securities beneficially owned by such Person
any securities acquired directly from the Company or its Affiliates other than in connection with the acquisition by the Company or its Affiliates of a business) representing 50% or more of the total voting power of the stock of the Company;
provided that the provisions of this subsection (i) are not intended to apply to or include as a Change in Control any transaction that is specifically excepted from the definition of Change in Control under subsection (iii) below;

 (ii) a change in the composition of the Board such that, during any 12-month
period, the individuals who, as of the beginning of such period, constitute the Board (the “Existing Board”) cease for any reason to constitute at least 50% of the Board; provided, however, that any individual becoming
a member of the Board subsequent to the beginning of such period whose election, or nomination for election by the Company’s shareholders, was approved by a vote of at least a majority of the Directors immediately prior to the date of such
appointment or election shall be considered as though such individual were a member of the Existing Board; provided further, that, notwithstanding the foregoing, no individual whose initial assumption of office occurs as a
result of either an actual or threatened election contest (as such terms are used in Rule 14a-11 or Regulation 14A promulgated under the Exchange Act or successor statutes or rules containing analogous
concepts) or other actual or threatened solicitation of proxies or consents by or on behalf of an individual, corporation, partnership, group, associate or other entity or Person other than the Board, shall in any event be considered to be a member
of the Existing Board; 
 (iii) the consummation of a merger, amalgamation or consolidation of the Company with any other
corporation or other entity, or the issuance of voting securities in connection with such a transaction pursuant to applicable stock exchange requirements; provided that immediately following such transaction the voting securities of the
Company outstanding immediately prior thereto do not continue to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity of such transaction or parent entity thereof) 50% or more of the total
voting power of the Company’s stock (or, if the Company is not the surviving entity of such merger or consolidation, 50% or 

 
more of the total voting power and total fair market value of the stock of such surviving entity or parent entity thereof); and provided, further, that such a transaction effected
to implement a recapitalization of the Company (or similar transaction) in which no Person is or becomes the Beneficial Owner, directly or indirectly, of securities of the Company (not including in the securities beneficially owned by such Person
any securities acquired directly from the Company or its Affiliates other than in connection with the acquisition by the Company or its Affiliates of a business) representing 50% or more of either the then-outstanding Shares or the combined voting
power of the Company’s then-outstanding voting securities shall not be considered a Change in Control; or 
 (iv) the
sale or disposition by the Company of all or substantially all of the Company’s assets in which any Person acquires (or has acquired during the 12-month period ending on the date of the most recent
acquisition by such Person) assets from the Company that have a total gross fair market value equal to more than 50% of the total gross fair market value of all of the assets of the Company immediately prior to such acquisition or acquisitions. 

Notwithstanding the foregoing, (A) no Change in Control shall be deemed to have occurred if there is consummated any transaction or series of integrated
transactions immediately following which the record holders of the Shares immediately prior to such transaction or series of transactions continue to have substantially the same proportionate ownership in an entity which owns substantially all of
the assets of the Company immediately prior to such transaction or series of transactions and (B) no Change in Control shall be deemed to have occurred upon the acquisition of additional control of the Company by any Person that is considered
to effectively control the Company. In no event will a Change in Control be deemed to have occurred if any Participant is part of a “group” within the meaning of Section 13(d)(3) of the Exchange Act that effects a Change in Control.
Notwithstanding the foregoing or any provision of any Award Agreement to the contrary, for any Award that provides for accelerated distribution on a Change in Control of amounts that constitute “deferred compensation” (as defined in
Section 409A of the Code), if the event that constitutes such Change in Control does not also constitute a change in the ownership or effective control of the Company, or in the ownership of a substantial portion of the Company’s assets
(in either case, as defined in Section 409A of the Code), such amount shall not be distributed on such Change in Control but instead shall vest as of such Change in Control and shall be distributed on the scheduled payment date specified in the
applicable Award Agreement, except to the extent that earlier distribution would not result in the Participant who holds such Award incurring interest or additional tax under Section 409A of the Code. 

(i) “Code” means the Internal Revenue Code of 1986, as amended from time to time, and the rules, regulations and guidance
thereunder. Any reference to a provision in the Code shall include any successor provision thereto. 
 (j) “Committee”
means the compensation committee of the Board unless another committee is designated by the Board. If there is no compensation committee of the Board and the Board does not designate another committee, references herein to the “Committee”
shall refer to the Board. 

 (k) “Consultant” means any individual, including an advisor, who is
providing bona fide services to the Company or any Subsidiary or Affiliate or who has accepted an offer of service or consultancy from the Company or any Subsidiary or Affiliate; provided that any such person may not receive any
payment or exercise any right relating to an Award until such person has commenced service with the Company or its Subsidiaries or Affiliates. For purposes of the Plan, in the case of a Consultant, references to employment shall be deemed to refer
to such Consultant’s service in such capacity, but in no event shall the Plan or any action taken hereunder be construed to create an employer-employee relationship between any such Consultant and the Company or of any of its Subsidiaries or
Affiliates. 
 (l) “Director” means any member of the Board. 

(m) “Effective Date” means the date on which the registration statement covering the initial public offering of the Shares is
declared effective by the Securities and Exchange Commission. 
 (n) “Employee” means any individual, including any
officer, employed by the Company or any Subsidiary or Affiliate or any prospective employee or officer who has accepted an offer of employment from the Company or any Subsidiary or Affiliate, with the status of employment determined based upon such
factors as are deemed appropriate by the Committee in its discretion, subject to any requirements of the Code or applicable laws; provided that any such person may not receive any payment or exercise any right relating to an Award until
such person has commenced employment or service with the Company or its Subsidiaries or Affiliates. An employee on an approved leave of absence (including maternity leave) shall be considered as still in the employment of the Company or its
Subsidiaries or Affiliates for purposes of eligibility for participation in the Plan. 
 (o) “Exchange Act” means the
Securities Exchange Act of 1934, as amended from time to time, and the rules, regulations and guidance thereunder. Any reference to a provision in the Exchange Act shall include any successor provision thereto. 

(p) “Fair Market Value” means (i) with respect to Shares, unless otherwise determined by the Committee, the closing
price of a Share on the applicable date of determination (or, if there is no reported sale on such date, on the last preceding date on which any reported sale occurred), on the principal stock market or exchange on which the Shares are quoted or
traded, or if Shares are not so quoted or traded, the fair market value of a Share as determined by the Committee, and (ii) with respect to any property other than Shares, the fair market value of such property determined by such methods or
procedures as shall be established from time to time by the Committee. 
 (q) “Incentive Stock Option” means an option
representing the right to purchase Shares from the Company, granted pursuant to Section 6, that meets the requirements of Section 422 of the Code. 

 (r) “Intrinsic Value” with respect to an Option or SAR Award means
(i) the excess, if any, of the price or implied price per Share in a Change in Control or other event over (ii) the exercise or hurdle price of such Award multiplied by (iii) the number of Shares covered by such
Award. 
 (s) “Non-Employee Director” means a Director who either (i) is not a
current employee or officer of the Company or an Affiliate, does not receive compensation, either directly or indirectly, from the Company or an Affiliate for services rendered as a consultant or in any capacity other than as a Director (except for
an amount as to which disclosure would not be required under Item 404(a) of Regulation S-K promulgated pursuant to the Securities Act (“Regulation
S-K”)), does not possess an interest in any other transaction for which disclosure would be required under Item 404(a) of Regulation S-K, and is not engaged in
a business relationship for which disclosure would be required pursuant to Item 404(b) of Regulation S-K; or (ii) is otherwise considered a “non-employee
director” for purposes of Rule 16b-3. 
 (t)
“Non-Qualified Stock Option” means an option representing the right to purchase Shares from the Company, granted pursuant to Section 6, that is not an Incentive Stock Option. 

(u) “Option” means an Incentive Stock Option or a Non-Qualified Stock Option. 

(v) “Other Cash-Based Award” means an Award granted pursuant to Section 11, including cash awarded as a bonus or upon
the attainment of specified performance criteria or otherwise as permitted under the Plan. 
 (w) “Other Stock-Based Award”
means an Award granted pursuant to Section 11 that may be denominated or payable in, valued in whole or in part by reference to, or otherwise based on, or related to, Shares or factors that may influence the value of Shares, including
convertible or exchangeable debt securities, other rights convertible or exchangeable into Shares, purchase rights for Shares, dividend rights or dividend equivalent rights or Awards with value and payment contingent upon performance of the Company
or business units thereof or any other factors designated by the Committee. 
 (x) “Participant” means the recipient of an
Award granted under the Plan. 
 (y) “Performance Award” means an Award granted pursuant to Section 10. 

(z) “Performance Period” means the period established by the Committee with respect to any Performance Award during which the
performance goals specified by the Committee with respect to such Award are to be measured. 
 (aa) “Person” has the
meaning ascribed to such term in Section 3(a)(9) of the Exchange Act and used in Sections 13(d) and 14(d) thereof, including a “group” as defined in Section 13(d) thereof. 

 (bb) “Pre-IPO Award” means an award
granted prior to the Effective Date under the Pre-IPO Plan. 
 (cc) “Pre-IPO Plan” means the First Amended and Restated Profits Interest Plan of H&W Franchise Holdings LLC. 

(dd) “Restricted Stock” means any Share subject to certain restrictions and forfeiture conditions, granted pursuant to
Section 8. 
 (ee) “RSU” means a contractual right granted pursuant to Section 9 that is denominated in Shares.
Each RSU represents a right to receive the value of one Share (or a percentage of such value) in cash, Shares or a combination thereof. Awards of RSUs may include the right to receive dividend equivalents. 

(ff) “Rule 16b-3” means Rule 16b-3
promulgated under the Exchange Act or any successor to Rule 16b-3, as in effect from time to time. 

(gg) “SAR” means a right granted pursuant to Section 7 to receive upon exercise by the Participant or settlement, in
cash, Shares or a combination thereof, the excess of (i) the Fair Market Value of one Share on the date of exercise or settlement over (ii) the exercise or hurdle price of the right on the date of grant. 

(hh) “Service Agreement” means any employment, severance, consulting or similar agreement between the Company or any of its
Affiliates and a Participant. 
 (ii) “Share” means a share of the Company’s Class A common stock, $0.0001 par
value. 
 (jj) “Subsidiary” means an entity of which the Company directly or indirectly holds all or a majority of the
value of the outstanding equity interests of such entity or a majority of the voting power with respect to the voting securities of such entity. Whether employment by or service with a Subsidiary is included within the scope of the Plan shall be
determined by the Committee. 
 (kk) “Substitute Award” means an Award granted in assumption of, or in substitution for, an
outstanding award previously granted by a company or other business acquired by the Company or with which the Company combines. 
 (ll)
“Termination of Service” means, in the case of a Participant who is an Employee, cessation of the employment relationship such that the Participant is no longer an employee of the Company or any Subsidiary, or, in the case of a
Participant who is a Consultant or other service provider, the date the performance of services for the Company or any Subsidiary has ended; provided, however, that in the case of a Participant who is an Employee, the transfer of
employment from the Company to a Subsidiary, from a Subsidiary to the Company, from one Subsidiary to another Subsidiary or, unless the Committee determines otherwise, the cessation of employee status but the continuation of the performance of
services for the Company or a Subsidiary as a Director or Consultant shall not be deemed a cessation of service that would constitute a Termination of Service; 

 
provided, further, that a Termination of Service shall be deemed to occur for a Participant employed by, or performing services for, a Subsidiary when such Subsidiary ceases to be a
Subsidiary unless such Participant’s employment or service continues with the Company or another Subsidiary. Notwithstanding the foregoing, with respect to any Award subject to Section 409A of the Code (and not exempt therefrom), a
Termination of Service occurs when a Participant experiences a “separation of service” (as such term is defined under Section 409A of the Code). 

Section 3. Eligibility. 

(a) Any Employee, Non-Employee Director or Consultant shall be eligible to be selected to receive an
Award under the Plan, to the extent that an offer or receipt of an Award is permitted by applicable law, stock market or exchange rules and regulations or accounting or tax rules and regulations. 

(b) Holders of equity compensation awards granted by a company that is acquired by the Company (or whose business is acquired by the Company)
or with which the Company combines are eligible for grants of Substitute Awards under the Plan to the extent permitted under applicable regulations of any stock exchange on which the Company is listed. 

Section 4. Administration. 

(a) Administration of the Plan. The Plan shall be administered by the Committee. All decisions of the Committee shall be final,
conclusive and binding upon all parties, including the Company, its shareholders, Participants and any Beneficiaries thereof. The Committee may issue rules and regulations for administration of the Plan. 

(b) Delegation of Authority. To the extent permitted by applicable law, including under Section 157(c) of the Delaware General
Corporation Law, the Committee may delegate to one or more officers of the Company some or all of its authority under the Plan, including the authority to grant Options and SARs or other Awards in the form of Share rights (except that such
delegation shall not apply to any Award for a Person then covered by Section 16 of the Exchange Act), and the Committee may delegate to one or more committees of the Board (which may consist of solely one Director) some or all of its authority
under the Plan, including the authority to grant all types of Awards, in accordance with applicable law. 
 (c) Authority of
Committee. Subject to the terms of the Plan and applicable law, the Committee (or its delegate) shall have full discretion and authority to: (i) designate Participants; (ii) determine the type or types of Awards (including Substitute
Awards) to be granted to each Participant under the Plan; (iii) determine the number of Shares to be covered by (or with respect to which payments, rights or other matters are to be calculated in connection with) Awards; (iv) determine the
terms and conditions of any Award and prescribe the form of each Award Agreement, which need not be identical for each Participant; (v) determine whether, to what extent, under what circumstances and by which methods Awards may be settled or
exercised in cash, Shares, other Awards, other 

 
property, net settlement (including broker-assisted cashless exercise), or any combination thereof, or canceled, forfeited or suspended; (vi) determine whether, to what extent and under what
circumstances cash, Shares, other Awards, other property and other amounts payable with respect to an Award under the Plan shall be deferred either automatically or at the election of the holder thereof or of the Committee; (vii) amend terms or
conditions of any outstanding Awards; (viii) correct any defect, supply any omission and reconcile any inconsistency in the Plan or any Award, in the manner and to the extent it shall deem desirable to carry the Plan into effect;
(ix) interpret and administer the Plan and any instrument or agreement relating to, or Award made under, the Plan; (x) establish, amend, suspend or waive such rules and regulations and appoint such agents, trustees, brokers, depositories
and advisors and determine such terms of their engagement as it shall deem appropriate for the proper administration of the Plan and due compliance with applicable law, stock market or exchange rules and regulations or accounting or tax rules and
regulations; and (xi) make any other determination and take any other action that the Committee deems necessary or desirable for the administration of the Plan and due compliance with applicable law, stock market or exchange rules and
regulations or accounting or tax rules and regulations. Notwithstanding anything to the contrary contained herein, the Board may, in its sole discretion, at any time and from time to time, grant Awards or administer the Plan. In any such case, the
Board shall have all of the authority and responsibility granted to the Committee herein. 
 (d) Rule
16b-3 Compliance. To the extent an Award is intended to qualify for the exemption from Section 16(b) of the Exchange Act that is available under Rule
16b-3 of the Exchange Act, the Award will be granted by the Board or a Committee (or a subcommittee thereof) that consists solely of two or more Non-Employee Directors,
as determined under Rule 16b-3(b)(3) of the Exchange Act and thereafter any action establishing or modifying the terms of the Award will be approved by the Board or a Committee (or a subcommittee) meeting such
requirements to the extent necessary for such exemption to remain available. 
 Section 5. Shares Available for Awards. 

(a) Subject to adjustment as provided in Section 5(c) and except for Substitute Awards, the initial number of Shares available for
issuance under the Plan shall not exceed in the aggregate the sum of (i) [ ] Shares and (ii) the number of Shares issuable pursuant to Awards previously granted under the Pre-IPO Plan (taking into account
any conversion of such outstanding Awards). The total number of Shares available for issuance under the Plan shall be increased on the first day of each Company fiscal year following the Effective Date in an amount equal to the least of (i) [ ]
Shares, (ii) 2% of outstanding Shares on the last day of the immediately preceding fiscal year and (iii) such number of Shares as determined by the Board in its discretion. Shares underlying Substitute Awards and Shares remaining available for
grant under a plan of an acquired company or of a company with which the Company combines (whether by way of amalgamation, merger, sale and purchase of shares or other securities or otherwise), appropriately adjusted to reflect the acquisition or
combination transaction, shall not reduce the number of Shares remaining available for grant hereunder. 

 (b) If any Award is forfeited, cancelled, expires, terminates or otherwise lapses or is
settled in cash, in whole or in part, without the delivery of Shares, then the Shares covered by such forfeited, expired, terminated or lapsed Award shall again be available for grant under the Plan. The following shall not become available for
issuance under the Plan: (i) any Shares withheld in respect of taxes relating to any Award and (ii) any Shares tendered or withheld to pay the exercise price of Options. 

(c) In the event that the Committee determines that, as a result of any dividend or other distribution (other than an ordinary dividend or
distribution), recapitalization, stock split, reverse stock split, reorganization, merger, amalgamation, consolidation, separation, rights offering, split-up, spin-off,
combination, or other similar corporate transaction or event affecting the Shares, or of changes in applicable laws, regulations or accounting principles, an adjustment is necessary in order to prevent dilution or enlargement of the benefits or
potential benefits intended to be made available under the Plan, then the Committee shall, subject to Section 19 and applicable law, adjust equitably so as to ensure no undue enrichment or harm (including by payment of cash), any or all of:

 (i) the number and type of Shares (or other securities) which thereafter may be made the subject of Awards, including the
aggregate limits specified in Section 5(a) and Section 5(f); 
 (ii) the number and type of Shares (or other
securities) subject to outstanding Awards; 
 (iii) the grant, acquisition, exercise or hurdle price with respect to any
Award or, if deemed appropriate, make provision for a cash payment to the holder of an outstanding Award; and 
 (iv) the
terms and conditions of any outstanding Awards, including the performance criteria of any Performance Awards; 
 provided, however, that the
number of Shares subject to any Award denominated in Shares shall always be a whole number. 
 (d) Any Shares delivered pursuant to an Award
may consist, in whole or in part, of authorized and unissued Shares or Shares acquired by the Company. 
 (e) The aggregate value of all
compensation granted or paid, as applicable, to any individual for service as a Non-Employee Director with respect to any calendar year, including Awards granted and cash fees paid by the Company to such Non-Employee Director, will not exceed (i) $650,000 in total value or (ii) in the event such Non-Employee Director is first appointed or elected to the Board, $1,000,000
in total value during the initial annual period, in each case calculating the value of any equity awards based on the grant date fair value of such equity awards for financial reporting purposes. The limitations in this Section 5(e) shall apply
commencing with the first calendar year that begins following the Effective Date. 

 (f) Subject to adjustment as provided in Section 5(c)(i), the maximum number of Shares
available for issuance with respect to Incentive Stock Options shall be [ ]. To the extent that the aggregate Fair Market Value (determined at the time of grant) of Shares with respect to which Incentive Stock Options are exercisable for the first
time by any Optionholder during any calendar year (under all plans of the Company and any Affiliates) exceeds $100,000 (or such other limit established in the Code) or otherwise does not comply with the rules governing Incentive Stock Options, the
Options or portions thereof that exceed such limit (according to the order in which they were granted) or otherwise do not comply with such rules will be treated as Nonqualified Stock Options, notwithstanding any contrary provision of the applicable
Option Agreement(s). 
 Section 6. Options. The Committee is authorized to grant Options to Participants with the
following terms and conditions and with such additional terms and conditions, in either case not inconsistent with the provisions of the Plan, as the Committee shall determine: 

(a) The exercise price per Share under an Option shall be determined by the Committee at the time of grant; provided, however,
that, except in the case of Substitute Awards, such exercise price shall not be less than the Fair Market Value of a Share on the date of grant of such Option. 

(b) The term of each Option shall be fixed by the Committee but shall not exceed 10 years from the date of grant of such Option. The Committee
shall determine the time or times at which an Option becomes vested and exercisable in whole or in part. 
 (c) The Committee shall
determine the methods by which, and the forms in which payment of the exercise price with respect thereto may be made or deemed to have been made, including cash, Shares, other Awards, other property, net settlement (including broker-assisted
cashless exercise) or any combination thereof, having a Fair Market Value on the exercise date equal to the relevant exercise price. 
 (d)
To the extent an Option is not previously exercised as to all of the Shares subject thereto, and, if the Fair Market Value of one Share is greater than the exercise price then in effect, then the Option shall be deemed automatically exercised
immediately before its expiration. 
 (e) No grant of Options may be accompanied by a tandem award of dividend equivalents or provide for
dividends, dividend equivalents or other distributions to be paid on such Options (except as provided under Section 5(c)). 
 (f) The
terms of any Incentive Stock Option granted under the Plan shall comply in all respects with the provisions of Section 422 of the Code. Incentive Stock Options may be granted only to employees of the Company or of a parent or subsidiary
corporation (as defined in Section 424 of the Code). 

 Section 7. Stock Appreciation Rights. The Committee is authorized to
grant SARs to Participants with the following terms and conditions and with such additional terms and conditions, in either case not inconsistent with the provisions of the Plan, as the Committee shall determine: 

(a) SARs may be granted under the Plan to Participants either alone (“freestanding”) or in addition to other Awards granted under the
Plan (“tandem”) and may, but need not, relate to a specific Option granted under Section 6. 
 (b) The exercise or hurdle
price per Share under a SAR shall be determined by the Committee; provided, however, that, except in the case of Substitute Awards, such exercise or hurdle price shall not be less than the Fair Market Value of a Share on the date of
grant of such SAR. 
 (c) The term of each SAR shall be fixed by the Committee but shall not exceed 10 years from the date of grant of such
SAR. The Committee shall determine the time or times at which a SAR may be exercised or settled in whole or in part. 
 (d) Upon the
exercise of a SAR, the Company shall pay to the Participant an amount equal to the number of Shares subject to the SAR multiplied by the excess, if any, of the Fair Market Value of one Share on the exercise date over the exercise or hurdle price of
such SAR. The Company shall pay such excess in cash, in Shares valued at Fair Market Value, or any combination thereof, as determined by the Committee. 

(e) To the extent a SAR is not previously exercised as to all of the Shares subject thereto, and, if the Fair Market Value of one Share is
greater than the exercise price then in effect, then the SAR shall be deemed automatically exercised immediately before its expiration. 

(f) No grant of SARs may be accompanied by a tandem award of dividend equivalents or provide for dividends, dividend equivalents or other
distributions to be paid on such SARs (except as provided under Section 5(c)). 
 Section 8. Restricted Stock. The
Committee is authorized to grant Awards of Restricted Stock to Participants with the following terms and conditions and with such additional terms and conditions, in either case not inconsistent with the provisions of the Plan, as the Committee
shall determine: 
 (a) The Award Agreement shall specify the vesting schedule. 

(b) Awards of Restricted Stock shall be subject to such restrictions as the Committee may impose, which restrictions may lapse separately or
in combination at such time or times, in such installments or otherwise, as the Committee may deem appropriate. 
 (c) Subject to the
restrictions set forth in the applicable Award Agreement, a Participant generally shall have the rights and privileges of a shareholder with respect to Awards of Restricted Stock, including the right to vote such Shares of Restricted Stock and the
right to receive dividends. 

 (d) The Committee may, in its discretion, specify in the applicable Award Agreement that any
or all dividends or other distributions paid on Awards of Restricted Stock prior to vesting be paid either in cash or in additional Shares (including through reinvestment in additional Shares) at the time that the underlying Award vests and/or
settle and is otherwise subject to the same restrictions as the underlying Awards. 
 (e) Any Award of Restricted Stock may be evidenced in
such manner as the Committee may deem appropriate, including book-entry registration. 
 (f) The Committee may provide in an Award Agreement
that an Award of Restricted Stock is conditioned upon the Participant making or refraining from making an election with respect to the Award under Section 83(b) of the Code. If a Participant makes an election pursuant to
Section 83(b) of the Code with respect to an Award of Restricted Stock, such Participant shall be required to file promptly a copy of such election with the Company and the applicable Internal Revenue Service office. 

Section 9. RSUs. The Committee is authorized to grant Awards of RSUs to Participants with the following terms and conditions and
with such additional terms and conditions, in either case not inconsistent with the provisions of the Plan, as the Committee shall determine: 

(a) The Award Agreement shall specify the vesting schedule and the delivery schedule (which may include deferred delivery later than the
vesting date). 
 (b) Awards of RSUs shall be subject to such restrictions as the Committee may impose, which restrictions may lapse
separately or in combination at such time or times, in such installments or otherwise, as the Committee may deem appropriate. 
 (c) An RSU
shall not convey to a Participant the rights and privileges of a shareholder with respect to the Shares subject to such RSU, such as the right to vote or the right to receive dividends, unless and until and to the extent a Share is issued to such
Participant to settle such RSU. 
 (d) The Committee may, in its discretion, specify in the applicable Award Agreement that any or all
dividend equivalents or other distributions paid on Awards of RSUs prior to vesting or settlement, as applicable, be paid either in cash or in additional Shares (including through reinvestment in additional Shares) at the time that the underlying
Award vests and/or settle and is otherwise subject to the same restrictions as the underlying Awards. 
 (e) Shares delivered upon the
vesting and settlement of an RSU Award may be evidenced in such manner as the Committee may deem appropriate, including book-entry registration. 

(f) The Committee may determine the form or forms (including cash, Shares, other Awards, other property or any combination thereof) in which
payment of the amount owing upon settlement of any RSU Award may be made. 

 Section 10. Performance Awards. The Committee is authorized to grant Performance
Awards to Participants with the following terms and conditions and with such additional terms and conditions, in either case not inconsistent with the provisions of the Plan, as the Committee shall determine: 

(a) Performance Awards may be denominated as a cash amount, number of Shares or units or a combination thereof and are Awards that may be
earned upon achievement or satisfaction of performance conditions specified by the Committee. In addition, the Committee may specify that any other Award shall constitute a Performance Award by conditioning the grant to a Participant or the right of
a Participant to exercise the Award or have it settled, and the timing thereof, upon achievement or satisfaction of such performance conditions as may be specified by the Committee. The Committee may use such business criteria and other measures of
performance as it may deem appropriate in establishing any performance conditions. Subject to the terms of the Plan, the performance goals to be achieved during any Performance Period, the length of any Performance Period, the amount of any
Performance Award granted and the amount of any payment or transfer to be made pursuant to any Performance Award shall be determined by the Committee. 

(b) Performance criteria may be measured on an absolute (e.g., plan or budget) or relative basis, and may be established on a
corporate-wide basis, with respect to one or more business units, divisions, Subsidiaries or business segments, or on an individual basis. If the Committee determines that a change in the business, operations, corporate structure or capital
structure of the Company, or the manner in which the Company conducts its business, or other events or circumstances render the performance objectives unsuitable, the Committee may modify the performance objectives or the related minimum acceptable
level of achievement, in whole or in part, as the Committee deems appropriate and equitable such that it does not provide any undue enrichment or harm. Performance measures may vary from Performance Award to Performance Award and from Participant to
Participant, and may be established on a stand-alone basis, in tandem or in the alternative. The Committee shall have the power to impose such other restrictions on Awards subject to this Section 10(b) as it may deem necessary or appropriate to
ensure that such Awards satisfy all requirements of any applicable law, stock market or exchange rules and regulations or accounting or tax rules and regulations. 

(c) Settlement of Performance Awards shall be in cash, Shares, other Awards, other property, net settlement, or any combination thereof, as
determined in the discretion of the Committee. 
 (d) A Performance Award shall not convey to a Participant the rights and privileges of a
shareholder with respect to the Shares subject to such Performance Award, such as the right to vote (except as relates to Restricted Stock) or the right to receive dividends, unless and until and to the extent a Share is issued to such Participant
to settle such Performance Award. The Committee, in its sole discretion, may provide that a Performance Award shall convey the right to receive dividend equivalents on the Shares subject to such Performance Award with respect to any dividends
declared during the period that such Performance Award is outstanding, in which case, such dividend 

 
equivalent rights shall accumulate and shall be paid in cash or Shares on the settlement date of the Performance Award, subject to the Participant’s earning of the Shares with respect to
which such dividend equivalents are paid upon achievement or satisfaction of performance conditions specified by the Committee. Shares delivered upon the vesting and settlement of a Performance Award may be evidenced in such manner as the Committee
may deem appropriate, including book-entry registration. For the avoidance of doubt, unless otherwise determined by the Committee, no dividend equivalent rights shall be provided with respect to any Shares subject to Performance Awards that are not
earned or otherwise do not vest or settle pursuant to their terms. 
 (e) The Committee may, in its discretion, increase or reduce the
amount of a settlement otherwise to be made in connection with a Performance Award. 
 Section 11. Other Cash-Based Awards and Other
Stock-Based Awards. The Committee is authorized, subject to limitations under applicable law, to grant Other Cash-Based Awards (either independently or as an element of or supplement to any other Award under the Plan) and Other Stock-Based
Awards. The Committee shall determine the terms and conditions of such Awards. Shares delivered pursuant to an Award in the nature of a purchase right granted under this Section 11 shall be purchased for such consideration, and paid for at such
times, by such methods and in such forms, including cash, Shares, other Awards, other property, net settlement, broker-assisted cashless exercise or any combination thereof, as the Committee shall determine; provided that the purchase price
therefor shall not be less than the Fair Market Value of such Shares on the date of grant of such right. 
 Section 12. Effect of
Termination of Service or a Change in Control on Awards. 
 (a) The Committee may provide, by rule or regulation or in any
applicable Award Agreement, or may determine in any individual case, the circumstances in which, and the extent to which, an Award may be exercised, settled, vested, paid or forfeited in the event of a Participant’s Termination of Service prior
to the end of a Performance Period or vesting, exercise or settlement of such Award. 
 (b) Subject to the last sentence of
Section 2(ll), the Committee may determine, in its discretion, whether, and the extent to which, (i) an Award will vest during a leave of absence, (ii) a reduction in service level (for example, from full-time to part-time employment)
will cause a reduction, or other change, to an Award and (iii) a leave of absence or reduction in service will be deemed a Termination of Service. 

(c) In the event of a Change in Control, the Committee may, in its sole discretion, and on such terms and conditions as it deems appropriate,
take any one or more of the following actions with respect to any outstanding Award, which need not be uniform with respect to all Participants and/or Awards: 

(i) continuation or assumption of such Award by the Company (if it is the surviving corporation) or by the successor or
surviving entity or its parent; 

 (ii) substitution or replacement of such Award by the successor or surviving
entity or its parent with cash, securities, rights or other property to be paid or issued, as the case may be, by the successor or surviving entity (or a parent or subsidiary thereof), with substantially the same terms and value as such Award
(including any applicable performance targets or criteria with respect thereto); 
 (iii) acceleration of the vesting of such
Award and the lapse of any restrictions thereon and, in the case of an Option or SAR Award, acceleration of the right to exercise such Award during a specified period (and the termination of such Option or SAR Award without payment of any
consideration therefor to the extent such Award is not timely exercised), in each case, either (A) immediately prior to or as of the date of the Change in Control, (B) upon a Participant’s involuntary Termination of Service (including
upon a termination of the Participant’s employment by the Company (or a successor corporation or its parent) without Cause, by a Participant for “good reason” and/or due to a Participant’s death or “disability”, as such
terms may be defined in the applicable Award Agreement and/or a Participant’s Service Agreement, as the case may be) on or within a specified period following the Change in Control or (C) upon the failure of the successor or surviving
entity (or its parent) to continue or assume such Award; 
 (iv) in the case of a Performance Award, determination of the
level of attainment of the applicable performance condition(s); and 
 (v) cancellation of such Award in consideration of a
payment, with the form, amount and timing of such payment determined by the Committee in its sole discretion, subject to the following: (A) such payment shall be made in cash, securities, rights and/or other property; (B) the amount of
such payment shall equal the value of such Award, as determined by the Committee in its sole discretion; provided that, in the case of an Option or SAR Award, if such value equals the Intrinsic Value of such Award, such value shall be deemed
to be valid; provided further that, if the Intrinsic Value of an Option or SAR Award is equal to or less than zero, the Committee may, in its sole discretion, provide for the cancellation of such Award without payment of any
consideration therefor (for the avoidance of doubt, in the event of a Change in Control, the Committee may, in its sole discretion, terminate any Option or SAR Awards for which the exercise or hurdle price is equal to or exceeds the per Share value
of the consideration to be paid in the Change in Control transaction without payment of consideration therefor); and (C) such payment shall be made promptly following such Change in Control or on a specified date or dates following such Change
in Control; provided that the timing of such payment shall comply with Section 409A of the Code. 

 Section 13. General Provisions Applicable to Awards. 

(a) Awards shall be granted for such cash or other consideration, if any, as the Committee determines; provided that in no event shall
Awards be issued for less than such minimal consideration as may be required by applicable law. 
 (b) Awards may, in the discretion of the
Committee, be granted either alone or in addition to or in tandem with any other Award or any award granted under any other plan of the Company. Awards granted in addition to or in tandem with other Awards, or in addition to or in tandem with awards
granted under any other plan of the Company, may be granted either at the same time as or at a different time from the grant of such other Awards or awards. 

(c) Subject to the terms of the Plan, payments or transfers to be made by the Company upon the grant, exercise or settlement of an Award may
be made in the form of cash, Shares, other Awards, other property, net settlement, or any combination thereof, as determined by the Committee in its discretion at the time of grant, and may be made in a single payment or transfer, in installments or
on a deferred basis, in each case in accordance with rules and procedures established by the Committee. Such rules and procedures may include provisions for the payment or crediting of reasonable interest on installment or deferred payments or the
grant or crediting of dividend equivalents in respect of installment or deferred payments. 
 (d) Except as may be permitted by the
Committee or as specifically provided in an Award Agreement, (i) no Award and no right under any Award shall be assignable, alienable, saleable or transferable by a Participant other than by will or pursuant to Section 13(e) and
(ii) during a Participant’s lifetime, each Award, and each right under any Award, shall be exercisable only by such Participant or, if permissible under applicable law, by such Participant’s guardian or legal representative. The
provisions of this Section 13(d) shall not apply to any Award that has been fully exercised or settled, as the case may be, and shall not preclude forfeiture of an Award in accordance with the terms thereof. 

(e) A Participant may designate a Beneficiary or change a previous Beneficiary designation only at such times as prescribed by the Committee,
in its sole discretion, and only by using forms and following procedures approved or accepted by the Committee for that purpose. 
 (f) All
certificates, if any, for Shares and/or other securities delivered under the Plan pursuant to any Award or the exercise or settlement thereof shall be subject to such stop transfer orders and other restrictions as the Committee may deem advisable
under the Plan or the rules, regulations and other requirements of the Securities and Exchange Commission, any stock market or exchange upon which such Shares or other securities are then quoted, traded or listed, and any applicable securities laws,
and the Committee may cause a legend or legends to be put on any such certificates to make appropriate reference to such restrictions. 

 (g) The Company will not be obligated to deliver any Shares under the Plan or remove
restrictions from Shares previously delivered under the Plan until (i) all Award conditions have been met or removed to the Committee’s satisfaction, (ii) as determined by the Committee, all other legal matters regarding the issuance
and delivery of such Shares have been satisfied, including any applicable securities laws, stock market or exchange rules and regulations or accounting or tax rules and regulations and (iii) the Participant has executed and delivered to the
Company such representations or agreements as the Committee deems necessary or appropriate to satisfy any applicable laws. The Company’s inability to obtain authority from any regulatory body having jurisdiction, which the Committee determines
is necessary to the lawful issuance and sale of any Shares, will relieve the Company of any liability for failing to issue or sell such Shares as to which such requisite authority has not been obtained. 

(h) Notwithstanding any provisions of this Plan to the contrary and except as provided in this Section 13(h), pursuant to Section
12 or Awards granted for services as a Non-Employee Director, Awards (other than replacement awards) shall not vest in full prior to the one-year anniversary of the
applicable grant date; provided, however, that the following Awards shall not be subject to the foregoing minimum vesting requirement: (i) Shares delivered in lieu of fully vested cash Awards; and (ii) any additional Awards
that the Committee may grant with such other vesting requirements, if any, as the Committee may establish in its sole discretion, up to five percent (5%) of the Shares available for issuance under the Plan. 

(i) The Committee may impose restrictions on any Award with respect to non-competition, non-solicitation, confidentiality and other restrictive covenants, or requirements to comply with minimum share ownership requirements, as it deems necessary or appropriate in its sole discretion, which such
restrictions may be set forth in any applicable Award Agreement or otherwise. 
 Section 14. Amendments and Terminations. 

(a) Amendment or Termination of the Plan. Except to the extent prohibited by applicable law and unless otherwise expressly provided in
an Award Agreement or in the Plan, the Board may amend, alter, suspend, discontinue or terminate the Plan or any portion thereof at any time; provided, however, that no such amendment, alteration, suspension, discontinuation or
termination shall be made without (i) shareholder approval if such approval is required by applicable law or the rules of the stock market or exchange, if any, on which the Shares are principally quoted or traded or (ii) subject to
Section 5(c) and Section 12, the consent of the affected Participant, if such action would materially adversely affect the rights of such Participant under any outstanding Award, except (x) to the extent any such amendment,
alteration, suspension, discontinuance or termination is made to cause the Plan to comply with applicable law, stock market or exchange rules and regulations or accounting or tax rules and regulations or (y) to impose any “clawback”
or recoupment provisions on any Awards (including any amounts or benefits arising from such Awards) in accordance with Section 18. Notwithstanding anything to the contrary in the Plan, the Committee may amend the Plan, or create sub-plans, in such manner as may be necessary or desirable to enable the Plan to achieve its stated purposes in any jurisdiction in a tax-efficient manner and in compliance
with local rules and regulations. 

 (b) Dissolution or Liquidation. Notwithstanding Section 14(c) hereof, in the
event of the dissolution or liquidation of the Company, each Award shall terminate immediately prior to the consummation of such action, unless otherwise determined by the Committee. 

(c) Terms of Awards. The Committee may waive any conditions or rights under, amend any terms of, or amend, alter, suspend, discontinue
or terminate any Award theretofore granted (including by substituting another Award of the same or a different type), prospectively or retroactively, without the consent of any relevant Participant or holder or Beneficiary of an Award;
provided, however, that, subject to Section 5(c) and Section 12, no such action shall materially adversely affect the rights of any affected Participant or holder or Beneficiary under any Award theretofore granted under the
Plan, except (x) to the extent any such action is made to cause the Plan or Award to comply with applicable law, stock market or exchange rules and regulations or accounting or tax rules and regulations, or (y) to impose any
“clawback” or recoupment provisions on any Awards (including any amounts or benefits arising from such Awards) in accordance with Section 18. The Committee shall be authorized to make adjustments in the terms and conditions of, and
the criteria included in, Awards in recognition of events (including the events described in Section 5(c)) affecting the Company, or the financial statements of the Company, or of changes in applicable laws, regulations or accounting
principles, whenever the Committee determines that such adjustments are appropriate in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under the Plan. 

(d) No Repricing. Except as provided in Section 5(c), the Committee may not, without shareholder approval, seek to effect any re-pricing of any previously granted “underwater” Option, SAR or similar Award by: (i) amending or modifying the terms of the Option, SAR or similar Award to lower the exercise price;
(ii) cancelling the underwater Option, SAR or similar Award and granting either (A) replacement Options, SARs or similar Awards having a lower exercise price or (B) Restricted Shares, RSUs, Performance Awards or Other Share-Based
Awards in exchange; or (iii) cancelling or repurchasing the underwater Options, SARs or similar Awards for cash or other securities. An Option, SAR or similar Award will be deemed to be “underwater” at any time when the Fair Market
Value of the Shares covered by such Award is less than the exercise price of the Award. 
 Section 15. Miscellaneous. 

(a) No Employee, Consultant, Non-Employee Director, Participant, or other Person shall have any claim
to be granted any Award under the Plan, and there is no obligation for uniformity of treatment of employees, Participants or holders or Beneficiaries of Awards under the Plan. The terms and conditions of Awards need not be the same with respect to
each recipient. Any Award granted under the Plan shall be a one- time Award that does not constitute a promise of future grants. The Company, in its sole discretion, maintains the right to make available future grants under the Plan. 

 (b) The grant of an Award shall not be construed as giving a Participant the right to be
retained in the employ of, or to continue to provide services to, the Company or any Affiliate. Further, the Company or any applicable Affiliate may at any time dismiss a Participant, free from any liability, or any claim under the Plan, unless
otherwise expressly provided in the Plan or in any Award Agreement or in any other agreement binding on the parties. The receipt of any Award under the Plan is not intended to confer any rights on the receiving Participant except as set forth in the
applicable Award Agreement. 
 (c) As a condition to accepting an Award under the Plan, the Participant agrees to execute any additional
documents or instruments necessary or desirable, as determined in the Committee’s sole discretion, to carry out the purposes or intent of the Award, or facilitate compliance with securities and/or other regulatory requirements, in each case at
the Committee’s request. 
 (d) No payment pursuant to the Plan shall be taken into account in determining any benefits under any
severance, pension, retirement, savings, profit sharing, group insurance, welfare or other benefit plan of the Company or any Affiliate, except to the extent otherwise expressly provided in writing in such other plan or an agreement thereunder. 

(e) Nothing contained in the Plan shall prevent the Company or any Affiliate from adopting or continuing in effect other or additional
compensation arrangements, including the grant of options and other stock-based awards, and such arrangements may be either generally applicable or applicable only in specific cases. 

(f) The Company shall be authorized to withhold from any Award granted or any payment due or transfer made under any Award or under the Plan
or from any compensation or other amount owing to a Participant the amount (in cash, Shares, other Awards, other property, net settlement, or any combination thereof) of applicable withholding taxes due in respect of an Award, its grant, vesting,
exercise or settlement or any payment or transfer under such Award or under the Plan and to take such other action (including providing for elective payment of such amounts in cash or Shares by such Participant) as may be necessary to satisfy all
obligations for the payment of such taxes and, unless otherwise determined by the Committee in its discretion, to the extent such withholding would not result in liability classification of such Award (or any portion thereof) pursuant to FASB ASC
Subtopic 718-10. 
 (g) If any provision of the Plan or any Award Agreement is or becomes or is
deemed to be invalid, illegal or unenforceable in any jurisdiction, or as to any Person or Award, or would disqualify the Plan or any Award under any law deemed applicable by the Committee, such provision shall be construed or deemed amended to
conform to applicable laws, or if it cannot be so construed or deemed amended without, in the determination of the Committee, materially altering the intent of the Plan or the Award Agreement, such provision shall be stricken as to such
jurisdiction, Person or Award, and the remainder of the Plan and any such Award Agreement shall remain in full force and effect. 

 (h) Neither the Plan nor any Award shall create or be construed to create a trust or
separate fund of any kind or a fiduciary relationship between the Company and a Participant or any other Person. To the extent that any Person acquires a right to receive payments from the Company pursuant to an Award, such right shall be no greater
than the right of any unsecured general creditor of the Company. 
 (i) Any reference herein or in an Award Agreement to a
“written” agreement or document will include any agreement or document delivered electronically, filed publicly at www.sec.gov (or any successor website thereto) or posted on the Company’s intranet (or other shared electronic medium
controlled by the Company to which the Participant has access). By accepting any Award the Participant consents to receive documents by electronic delivery and to participate in the Plan through any on-line
electronic system established and maintained by the Committee’s or another third party selected by the Committee. The form of delivery of any Shares (e.g., a stock certificate or electronic entry evidencing such shares) shall be determined by
the Company. 
 (j) No fractional Shares shall be issued or delivered pursuant to the Plan or any Award, and the Committee shall determine
whether cash or other securities shall be paid or transferred in lieu of any fractional Shares, or whether such fractional Shares or any rights thereto shall be canceled, terminated or otherwise eliminated. 

(k) Awards may be granted to Participants who are non-United States nationals or employed or providing
services outside the United States, or both, on such terms and conditions different from those applicable to Awards to Participants who are employed or providing services in the United States as may, in the judgment of the Committee, be necessary or
desirable to recognize differences in local law, tax policy or custom. The Committee also may impose conditions on the exercise or vesting of Awards in order to minimize the Company’s obligation with respect to tax equalization for Participants
on assignments outside their home country. 
 Section 16. Effective Date of the Plan. The Plan shall be effective as of the
Effective Date. 
 Section 17. Term of the Plan. No Award shall be granted under the Plan after the earliest to occur of
(i) the 10-year anniversary of the Effective Date; (ii) the maximum number of Shares available for issuance under the Plan have been issued; or (iii) the Board terminates the Plan in accordance
with Section 14(a). However, unless otherwise expressly provided in the Plan or in an applicable Award Agreement, any Award theretofore granted may extend beyond such date, and the authority of the Committee to amend, alter, adjust, suspend,
discontinue or terminate any such Award, or to waive any conditions or rights under any such Award, and the authority of the Board to amend the Plan, shall extend beyond such date. 

Section 18. Cancellation or “Clawback” of Awards. 

 (a) The Committee may specify in an Award Agreement that a Participant’s rights,
payments and benefits with respect to an Award shall be subject to reduction, cancellation, forfeiture or recoupment upon the occurrence of certain specified events, in addition to any otherwise applicable vesting or performance conditions of an
Award. Such events may include a Termination of Service with or without Cause (and, in the case of any Cause that is resulting from an indictment or other non-final determination, the Committee may provide for
such Award to be held in escrow or abeyance until a final resolution of the matters related to such event occurs, at which time the Award shall either be reduced, cancelled or forfeited (as provided in such Award Agreement) or remain in effect,
depending on the outcome), violation of material policies, breach of non-competition, non-solicitation, confidentiality or other restrictive covenants, or requirements
to comply with minimum share ownership requirements, that may apply to the Participant, or other conduct by the Participant that is detrimental to the business or reputation of the Company and/or its Affiliates. 

(b) The Committee shall have full authority to implement any policies and procedures necessary to comply with Section 10D of the Exchange
Act and any rules promulgated thereunder and any other regulatory regimes. Notwithstanding anything to the contrary contained herein, any Awards granted under the Plan (including any amounts or benefits arising from such Awards) shall be subject to
any clawback or recoupment arrangements or policies the Company has in place from time to time, and the Committee may, to the extent permitted by applicable law and stock exchange rules or by any applicable Company policy or arrangement, and shall,
to the extent required, cancel or require reimbursement of any Awards granted to the Participant or any Shares issued or cash received upon vesting, exercise or settlement of any such Awards or sale of Shares underlying such Awards. 

Section 19. Section 409A of the Code. With respect to Awards subject to Section 409A of the Code, the Plan
is intended to comply with the requirements of Section 409A of the Code, and the provisions of the Plan and any Award Agreement shall be interpreted in a manner that satisfies the requirements of Section 409A of the Code, and the Plan
shall be operated accordingly. If any provision of the Plan or any term or condition of any Award would otherwise frustrate or conflict with this intent, the provision, term or condition shall be interpreted and deemed amended so as to avoid this
conflict. Notwithstanding anything in the Plan to the contrary, if the Board considers a Participant to be a “specified employee” under Section 409A of the Code at the time of such Participant’s “separation from
service” (as defined in Section 409A of the Code), and any amount hereunder is “deferred compensation” subject to Section 409A of the Code, any distribution of such amount that otherwise would be made to such Participant
with respect to an Award as a result of such “separation from service” shall not be made until the date that is six months after such “separation from service,” except to the extent that earlier distribution would not result in
such Participant’s incurring interest or additional tax under Section 409A of the Code. If an Award includes a “series of installment payments” (within the meaning of
Section 1.409A-2(b)(2)(iii) of the Treasury Regulations), a Participant’s right to such series of installment payments shall be treated as a right to a series of separate payments and not as a right
to a single payment, and if an Award includes “dividend equivalents” (within the meaning of Section 1.409A-3(e) of 

 
the Treasury Regulations), a Participant’s right to such dividend equivalents shall be treated separately from the right to other amounts under the Award. Notwithstanding the foregoing, the
tax treatment of the benefits provided under the Plan or any Award Agreement is not warranted or guaranteed, and in no event shall the Company be liable for all or any portion of any taxes, penalties, interest or other expenses that may be incurred
by a Participant on account of non-compliance with Section 409A of the Code. 

Section 20. Successors and Assigns. The terms of the Plan shall be binding upon and inure to the benefit of the Company and any
successor entity, including any successor entity contemplated by Section 12(c). 
 Section 21. Data Protection. By
participating in the Plan, the Participant hereby acknowledges the collection, use, disclosure and processing of personal information provided by the Participant to the Company or any Affiliate, trustee or third party service provider, such as name,
account information, social security number, tax number and contact information, for the Company’s legitimate business purposes and as necessary for all purposes relating to the operation and performance of the Plan. These include, but are not
limited to: 
 (a) administering and maintaining Participant records; 

(b) providing the services described in the Plan; 

(c) providing information to future purchasers or merger partners of the Company or any Affiliate, or the business in which such Participant
works; and 
 (d) responding to public authorities, court orders and legal investigations, as applicable. 

The Company may share a Participant’s personal data with (i) Affiliates, (ii) trustees of any employee benefit trust,
(iii) registrars, (iv) brokers, (v) third party administrators of the Plan, (vi) third party service providers acting on the Company’s behalf to provide the services described above or (vii) regulators and others, as
required by law. 
 If necessary, the Company may transfer a Participant’s personal data to any of the parties mentioned above in any
country or territory that may not provide the same protection for the information as a Participant’s home country. Any transfer of a Participant’s personal data from the E.U. to a third country is subject to appropriate safeguards in the
form of EU standard contractual clauses (according to decisions 2001/497/EC, 2004/915/EC, 2010/87/EU) or applicable derogations provided for under applicable law. Further information on those safeguards or derogations can be obtained through the
contact listed below. 
 The Company will keep personal information for as long as necessary to operate the Plan or as necessary to comply
with any legal or regulatory requirements. 

 A Participant has a right to (i) request access to and rectification or erasure of the
personal data provided, (ii) request the restriction of the processing of his or her personal data, (iii) object to the processing of his or her personal data, (iv) receive the personal data provided to the Company and transmit such
data to another party, and (v) to lodge a complaint with a supervisory authority. 
 Section 22. Governing Law. The Plan
and each Award Agreement shall be governed by the laws of the State of Delaware, without application of the conflicts of law principles thereof.

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