Document:

EX-10.3

 Exhibit 10.3 

[DEALER] 
 [●], 2021 

 

					
	To:	 	John Bean Technologies Corporation
		 	Attention:	  	[●]
		 	Telephone No.:	  	[●]
		 	Facsimile No.:	  	[●]

  

	Re:	 [Base][Additional] Warrants 

The purpose of this letter agreement (this “Confirmation”) is to confirm the terms and conditions of the Warrants issued by
John Bean Technologies Corporation (“Company”) to [●] (“Dealer”) as of the Trade Date specified below (the “Transaction”). This letter agreement constitutes a “Confirmation”
as referred to in the ISDA Master Agreement specified below. Each party further agrees that this Confirmation together with the Agreement evidence a complete binding agreement between Company and Dealer as to the subject matter and terms of the
Transaction to which this Confirmation relates, and shall supersede all prior or contemporaneous written or oral communications with respect thereto. 

The definitions and provisions contained in the 2002 ISDA Equity Derivatives Definitions (the “Equity Definitions”), as
published by the International Swaps and Derivatives Association, Inc. (“ISDA”), are incorporated into this Confirmation. In the event of any inconsistency between the Equity Definitions and this Confirmation, this Confirmation
shall govern. 
 Each party is hereby advised, and each such party acknowledges, that the other party has engaged in, or refrained from
engaging in, substantial financial transactions and has taken other material actions in reliance upon the parties’ entry into the Transaction to which this Confirmation relates on the terms and conditions set forth below. 

1. This Confirmation evidences a complete and binding agreement between Dealer and Company as to the terms of the Transaction to which this Confirmation
relates. This Confirmation shall supplement, form a part of, and be subject to an agreement in the form of the 2002 ISDA Master Agreement (the “Agreement”) as if Dealer and Company had executed an agreement in such form (but without
any Schedule except for (i) the election of the laws of the State of New York as the governing law (without reference to choice of law doctrine) and (ii) the disapplication of Default Under Specified Transaction (Section 5(a)(v) of the
Agreement) with respect to Dealer) on the Trade Date. In the event of any inconsistency between provisions of that Agreement and this Confirmation, this Confirmation will prevail for the purpose of the Transaction to which this Confirmation relates.
The parties hereby agree that no Transaction other than the Transaction to which this Confirmation relates shall be governed by the Agreement. 
 2. The
Transaction is a Warrant Transaction, which shall be considered a Share Option Transaction for purposes of the Equity Definitions. The terms of the particular Transaction to which this Confirmation relates are as follows: 

General Terms. 
  

			
	Trade Date:	  	[●], 2021
		
	Effective Date:	  	With respect to Sections 9(f) and 9(w) of this Confirmation, the Trade Date; otherwise, the Premium Payment Date
		
	Warrants:	  	Equity call warrants, each giving the holder the right to purchase a number of Shares equal to the Warrant Entitlement at a price per Share equal to the Strike Price, subject to the terms set forth under the caption “Settlement
Terms” below. For the purposes of the Equity Definitions, each reference to a Warrant herein shall be deemed to be a reference to a Call Option.

			
		
	Warrant Style:	  	European
		
	Seller:	  	Company
		
	Buyer:	  	Dealer
		
	Shares:	  	The common stock of Company, par value USD 0.01 per share (Exchange symbol “JBT”)
		
	Number of Warrants:	  	[●]. For the avoidance of doubt, the Number of Warrants shall be reduced by any Warrants exercised or deemed exercised hereunder. In no event will the Number of Warrants be less than zero.
		
	Warrant Entitlement:	  	One Share per Warrant
		
	Strike Price:	  	USD 240.0188.
		
		  	Notwithstanding anything to the contrary in the Agreement, this Confirmation or the Equity Definitions, in no event shall the Strike Price be subject to adjustment to the extent that, after giving effect to such adjustment, the
Strike Price would be less than USD [●]1, except for any adjustment pursuant to the terms of this Confirmation and the Equity Definitions in connection with stock splits or similar changes
to Company’s capitalization.
		
	Premium:	  	USD [●]
		
	Premium Payment Date:	  	[●], 2021
		
	Exchange:	  	The New York Stock Exchange
		
	Related Exchange(s):	  	All Exchanges

 Procedures for Exercise. 

 

			
	Expiration Time:	  	The Valuation Time
		
	Expiration Dates:	  	Each Scheduled Trading Day during the period from, and including, the First Expiration Date to, but excluding, the 80th Scheduled Trading Day following the First Expiration Date shall be an “Expiration Date” for a number
of Warrants equal to the Daily Number of Warrants on such date; provided that, notwithstanding anything to the contrary in the Equity Definitions, if any such date is a Disrupted Day, the Calculation Agent shall, in good faith and in a
commercially reasonable manner, make adjustments, if applicable, to the Daily Number of Warrants or shall reduce such Daily Number of Warrants to zero for which such day shall be an Expiration Date and shall designate a Scheduled Trading Day or a
number

  

	1 	 Insert the lesser of (x) the closing price of the Shares on the Trade Date and (y) the average closing price of
the Shares for the five trading days ending on, and including, the Trade Date. 

  
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		  	of Scheduled Trading Days as the Expiration Date(s) for the remaining Daily Number of Warrants or a portion thereof for the originally scheduled Expiration Date; and provided further that if such Expiration Date has
not occurred pursuant to this clause as of the eighth Scheduled Trading Day following the last scheduled Expiration Date under the Transaction, then such Scheduled Trading Day shall be deemed to be an Expiration Date for the relevant Daily Number of
Warrants and the Calculation Agent shall determine its good faith estimate of the fair market value for the Shares as of the Valuation Time on that eighth Scheduled Trading Day.
		
	First Expiration Date:	  	August 15, 20262 (or if such day is not a Scheduled Trading Day, the next following Scheduled Trading Day), subject to Market Disruption Event below.
		
	Daily Number of Warrants:	  	For any Expiration Date, the Number of Warrants that have not expired or been exercised as of such day, divided by the remaining number of Expiration Dates (including such day), rounded down to the nearest whole number,
subject to adjustment pursuant to the provisos to “Expiration Dates”.
		
	Automatic Exercise:	  	Applicable; and means that for each Expiration Date, a number of Warrants equal to the Daily Number of Warrants for such Expiration Date will be deemed to be automatically exercised at the Expiration Time on such Expiration
Date.
		
	Market Disruption Event:	  	Section 6.3(a) of the Equity Definitions is hereby amended by replacing clause (ii) in its entirety with “(ii) an Exchange Disruption, or” and inserting immediately following clause (iii) the phrase “;
in each case that the Calculation Agent determines is material.”
		
		  	Section 6.3(d) of the Equity Definitions is hereby amended by deleting the remainder of the provision following the words “Scheduled Closing Time” in the fourth line thereof.

 Valuation Terms. 
  

			
	Valuation Time:	  	Scheduled Closing Time; provided that if the principal trading session is extended, the Calculation Agent shall determine the Valuation Time in its reasonable discretion.
		
	Valuation Date:	  	Each Exercise Date.

 Settlement Terms. 
  

			
	Settlement Method Election:	  	Applicable; provided that (i) references to “Physical Settlement” in Section 7.1 of the Equity Definitions shall be replaced by references to “Net Share Settlement”; (ii)

  

	2 	 Three months after the Expiration Date of the corresponding bond hedge (i.e., the maturity under the notes).

  
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		  	Company may elect Cash Settlement only if Company represents and warrants to Dealer in writing on the date of such election that (A) Company is not in possession of any material
non-public information regarding Company or the Shares, (B) Company is electing Cash Settlement in good faith and not as part of a plan or scheme to evade compliance with the federal securities laws,
(C) the assets of Company at their fair valuation exceed the liabilities of Company (including contingent liabilities), the capital of Company is adequate to conduct the business of Company, and Company has the ability to pay its debts and
obligations as such debts mature and does not intend to, or does not believe that it will, incur debt beyond its ability to pay as such debts mature, and (D) neither it nor any of its subsidiaries has applied, and neither it nor any of its
subsidiaries has any present intention to apply, for a loan, loan guarantee, direct loan (as that term is defined in the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”)) or other investment, or to receive any
financial assistance or relief (howsoever defined) under any program or facility that (1) is established under applicable law (whether in existence as of the Trade Date or subsequently enacted, adopted or amended), including without limitation
the CARES Act and the Federal Reserve Act, as amended, and (2) requires under applicable law (or any regulation, guidance, interpretation or other pronouncement thereunder), as a condition of such loan, loan guarantee, direct loan (as that term
is defined in the CARES Act), investment, financial assistance or relief, that Company comply with any requirement not to repurchase, or otherwise agree, attest, certify or warrant that it or any of its subsidiaries has not, as of the date specified
in such condition, repurchased, or will not repurchase, any equity security of Company unless Company determines based on the advice of nationally recognized outside counsel that the terms of the Transaction would not cause Company to fail to
satisfy any condition for application for or receipt or retention of such governmental assistance based on the terms of the relevant program or facility as of the date of such advice; and (iii) the same election of settlement method shall apply
to all Expiration Dates hereunder.
		
	Electing Party:	  	Company
		
	Settlement Method Election Date:	  	The third Scheduled Trading Day immediately preceding the First Expiration Date.
		
	Default Settlement Method:	  	Net Share Settlement
		
	Net Share Settlement:	  	If Net Share Settlement is applicable, then on the relevant Settlement Date, Company shall deliver to Dealer a number of Shares equal to the Share Delivery Quantity for such Settlement Date to the account specified herein free of
payment through the Clearance System, and Dealer shall be treated as the holder of record of such

  
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		  	Shares at the time of delivery of such Shares or, if earlier, at 5:00 p.m. (New York City time) on such Settlement Date, and Company shall pay to Dealer cash in lieu of any fractional Share based on the Settlement Price on the
relevant Valuation Date.
		
	Share Delivery Quantity:	  	For any Settlement Date, a number of Shares, as calculated by the Calculation Agent, equal to the Net Share Settlement Amount for such Settlement Date divided by the Settlement Price on the Valuation Date for such Settlement
Date.
		
	Net Share Settlement Amount:	  	For any Settlement Date, an amount equal to the product of (i) the number of Warrants exercised or deemed exercised on the relevant Exercise Date, (ii) the Strike Price Differential for the relevant Valuation Date and
(iii) the Warrant Entitlement.
		
	Cash Settlement:	  	If Cash Settlement is applicable, on the relevant Settlement Date, Company shall pay to Dealer an amount of cash in USD equal to the Net Share Settlement Amount for such Settlement Date.
		
	Settlement Price:	  	For any Valuation Date, the per Share volume-weighted average price as displayed under the heading “Bloomberg VWAP” on Bloomberg page JBT <equity> AQR (or any successor thereto) in respect of the period from the
scheduled opening time of the Exchange to the Scheduled Closing Time on such Valuation Date (or if such volume-weighted average price is unavailable, the market value of one Share on such Valuation Date, as determined by the Calculation Agent).
Notwithstanding the foregoing, if (i) any Expiration Date is a Disrupted Day and (ii) the Calculation Agent determines that such Expiration Date shall be an Expiration Date for fewer than the Daily Number of Warrants, as described above,
then the Settlement Price for the relevant Valuation Date shall be the volume-weighted average price per Share on such Valuation Date on the Exchange, as determined by the Calculation Agent based on such sources as it deems appropriate using a
volume-weighted methodology, for the portion of such Valuation Date for which the Calculation Agent determines there is no Market Disruption Event.
		
	Settlement Dates:	  	As determined pursuant to Section 9.4 of the Equity Definitions, subject to Section 9(k)(i) hereof; provided that Section 9.4 of the Equity Definitions is hereby amended by (i) inserting the words “or
cash” immediately following the word “Shares” in the first line thereof and (ii) inserting the words “for the Shares” immediately following the words “Settlement Cycle” in the second line thereof.
		
	Other Applicable Provisions:	  	If Net Share Settlement is applicable, the provisions of Sections 9.1(c), 9.8, 9.9, 9.11 and 9.12 of the Equity

  
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		  	Definitions will be applicable, except that all references in such provisions to “Physically-settled” shall be read as references to “Net Share Settled.” “Net Share Settled” in relation to any Warrant
means that Net Share Settlement is applicable to that Warrant.
		
	Representation and Agreement:	  	Notwithstanding Section 9.11 of the Equity Definitions, the parties acknowledge that any Shares delivered to Dealer may be, upon delivery, subject to restrictions and limitations arising from Company’s status as issuer of
the Shares under applicable securities laws.

  

	3.	 Additional Terms applicable to the Transaction. 

Adjustments applicable to the Transaction: 
  

			
	Method of Adjustment:	  	Calculation Agent Adjustment, except that any adjustment in respect of a Potential Adjustment Event shall be made in a commercially reasonable manner; provided that the parties agree that (x) open market Share
repurchases at prevailing market prices or (y) accelerated share repurchases, forward contracts or similar transactions (at, or at a commercially reasonable adjustment in relation to, prevailing market prices) that are entered into in
accordance with customary, arm’s length terms for transactions of such type to repurchase the Shares (and, in the case of this clause (y), through a nationally recognized financial institution), shall not be considered a Potential Adjustment
Event as long as the aggregate number of Shares so repurchased does not exceed 15% of the total number of Shares outstanding as of the Trade Date, as determined by Calculation Agent in a commercially reasonable manner. For the avoidance of doubt, in
making any adjustments under the Equity Definitions, the Calculation Agent may make adjustments, if any, to any one or more of the Strike Price, the Number of Warrants, the Daily Number of Warrants and the Warrant Entitlement. Notwithstanding the
foregoing, any cash dividends or distributions on the Shares, whether or not extraordinary, shall be governed by Section 9(f) of this Confirmation in lieu of Article 10 or Section 11.2(c) of the Equity Definitions.

 Extraordinary Events applicable to the Transaction: 

 

			
	New Shares:	  	Section 12.1(i) of the Equity Definitions is hereby amended (a) by deleting the text in clause (i) thereof in its entirety (including the word “and” following clause (i)) and replacing it with the phrase
“publicly quoted, traded or listed (or whose related depositary receipts are publicly quoted, traded or listed) on any of The New York Stock Exchange, The Nasdaq Global Select Market or The Nasdaq Global Market (or their respective
successors)” and (b) by inserting immediately prior to the period the phrase “and (iii) of an entity or person that is a corporation organized under the laws of the United States,

  
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		  	any State thereof or the District of Columbia that (x) also becomes Company under the Transaction or (y) wholly owns Company and fully and unconditionally guarantees Company’s obligations under the Transaction, in
either case, following such Merger Event or Tender Offer”.

 Consequence of Merger Events: 
  

			
	Merger Event:	  	Applicable, except that any adjustment in respect of a Merger Event shall be made in a commercially reasonable manner; provided that if an event occurs that constitutes both a Merger Event under Section 12.1(b) of the Equity
Definitions and an Additional Termination Event under Section 9(h)(ii)(B) of this Confirmation, the provisions of Section 9(h)(ii)(B) will apply.
		
	 Share-for-Share:
	  	Modified Calculation Agent Adjustment
		
	 Share-for-Other:
	  	Cancellation and Payment (Calculation Agent Determination)
		
	 Share-for-Combined:
	  	Component Adjustment

 Consequence of Tender Offers: 
  

			
		
	Tender Offer:	  	Applicable; provided that Section 12.1(d) of the Equity Definitions is hereby amended by replacing “10%” with “20%” in the third line thereof; provided further that if an event occurs that constitutes both a
Tender Offer under Section 12.1(d) of the Equity Definitions and Additional Termination Event under Section 9(h)(ii)(A) of this Confirmation, the provisions of Section 9(h)(ii)(A) will apply.
		
	 Share-for-Share:
	  	Modified Calculation Agent Adjustment
		
	 Share-for-Other:
	  	Modified Calculation Agent Adjustment
		
	 Share-for-Combined:
	  	Modified Calculation Agent Adjustment
		
	Consequences of Announcement Events:	  	Modified Calculation Agent Adjustment as set forth in Section 12.3(d) of the Equity Definitions, except that any adjustment in respect of an Announcement Event shall be made in a commercially reasonable manner; provided
that, in respect of an Announcement Event, (x) references to “Tender Offer” shall be replaced by references to “Announcement Event” and references to “Tender Offer Date” shall be replaced by references to
“date of such Announcement Event”, (y) the fifth and sixth lines shall be deleted in their entirety and replaced with the words “material economic effect on the Warrants of such Announcement Event solely to account for changes in
volatility, expected dividends, stock loan rate or liquidity relevant to the Shares or the Warrants”, and (z) for the avoidance of doubt, the Calculation Agent shall, in good faith and in a commercially reasonable manner, determine whether
the relevant Announcement Event has had a

  
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		  	material economic effect on the Transaction (and, if so, shall adjust the terms of the Transaction accordingly in a commercially reasonable manner) on one or more occasions on or after the date of the Announcement Event but no later
than the Expiration Date, any Early Termination Date and/or any other date of cancellation, it being understood that (i) any adjustment in respect of an Announcement Event shall take into account any earlier adjustment relating to the same
Announcement Event and (ii) in making any adjustment the Calculation Agent shall take into account volatility, liquidity or other factors before and after such Announcement Event. An Announcement Event shall be an “Extraordinary
Event” for purposes of the Equity Definitions, to which Article 12 of the Equity Definitions is applicable.
		
	Announcement Event:	  	(i) The public announcement by Issuer, any subsidiary of Issuer, any affiliate of Issuer, any agent of Issuer, any Valid Third Party Entity or any agent or affiliate of a Valid Third Party Entity of (x) any transaction or event
that, if completed, would constitute a Merger Event or Tender Offer, (y) any potential acquisition or disposition by Issuer and/or its subsidiaries where the aggregate consideration exceeds 35% of the market capitalization of Issuer as of the
date of such announcement (an “Acquisition Transaction”) or (z) the intention to enter into a Merger Event or Tender Offer or an Acquisition Transaction, (ii) the public announcement by Issuer of an intention to solicit or enter
into, or to explore strategic alternatives or other similar undertaking that may include, a Merger Event or Tender Offer or an Acquisition Transaction or (iii) any subsequent public announcement by the entity making the previous announcement of
a change to a transaction or intention that is the subject of an announcement of the type described in clause (i) or (ii) of this sentence (including, without limitation, a new announcement, by the entity making the previous announcement,
relating to such a transaction or intention or the announcement of a withdrawal from, or the abandonment or discontinuation of, such a transaction or intention), as determined by the Calculation Agent in good faith and in a commercially reasonable
manner. For the avoidance of doubt, the occurrence of an Announcement Event with respect to any transaction or intention shall not preclude the occurrence of a later Announcement Event with respect to such transaction or intention. For purposes of
this definition of “Announcement Event,” the remainder of the definition of “Merger Event” in Section 12.1(b) of the Equity Definitions following the definition of “Reverse Merger” therein shall be
disregarded.
		
	Valid Third Party Entity:	  	In respect of any transaction, any third party that the Calculation Agent determines has a bona fide intent to enter into or consummate such transaction (it being understood and agreed that in determining whether
such

  
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		  	third party has such a bona fide intent, the Calculation Agent may take into consideration the effect of the relevant announcement by such third party on the Shares and/or options relating to the Shares and, if such effect is
material, may deem such third party to have a bona fide intent to enter into or consummate such transaction).
		
	Nationalization, Insolvency or Delisting:	  	Cancellation and Payment (Calculation Agent Determination); provided that, in addition to the provisions of Section 12.6(a)(iii) of the Equity Definitions, it will also constitute a Delisting if the Exchange is located in the
United States and the Shares are not immediately re-listed, re-traded or re-quoted on any of The New York Stock Exchange, The
Nasdaq Global Select Market or The Nasdaq Global Market (or their respective successors); if the Shares are immediately re-listed, re-traded or re-quoted on any of The New York Stock Exchange, The Nasdaq Global Select Market or The Nasdaq Global Market (or their respective successors), such exchange or quotation system shall thereafter be deemed to be the
Exchange.

 Additional Disruption Events: 
  

			
		
	Change in Law:	  	Applicable; provided that Section 12.9(a)(ii) of the Equity Definitions is hereby amended by (i) replacing the phrase “the interpretation” in the third line thereof with the phrase “, or the public
announcement of, the formal or informal interpretation”, (ii) replacing the word “Shares” with the phrase “Hedge Positions” in clause (X) thereof, and (iii) inserting the parenthetical “(including, for
the avoidance of doubt and without limitation, (x) any tax law or (y) adoption or promulgation of new regulations authorized or mandated by existing statute)” at the end of clause (A) thereof. Notwithstanding anything to the
contrary in the Equity Definitions, a Change in Law described in clause (Y) of Section 12.9(a)(ii) of the Equity Definitions shall not constitute a Change in Law and instead shall constitute an Increased Cost of Hedging as described in
Section 12.9(a)(vi) of the Equity Definitions.
		
	Failure to Deliver:	  	Not Applicable
		
	Insolvency Filing:	  	Applicable
		
	Hedging Disruption:	  	Applicable; provided that:
		
		  	 (i) Section 12.9(a)(v) of the Equity Definitions is hereby amended by
(a) inserting the following words at the end of clause (A) thereof: “in the manner contemplated by the Hedging Party on the Trade Date” and (b) inserting the following two phrases at the end of such Section:

		
		  	 “For the avoidance of doubt, the term “equity price risk” shall be deemed to include, but shall not be
limited to, stock price and volatility risk. And, for

  
 9 

			
		  	 the further avoidance of doubt, any such transactions or assets referred to in phrases (A) or (B) above must be
available on commercially reasonable pricing terms.”; and

		
		  	 (ii)  Section 12.9(b)(iii) of the Equity Definitions is hereby amended by
inserting in the third line thereof, after the words “to terminate the Transaction”, the words “or a portion of the Transaction affected by such Hedging Disruption”.

		
	 Increased Cost of Hedging:
	  	Applicable solely with respect to a “Change in Law” described in clause (Y) of Section 12.9(a)(ii) of the Equity Definitions as set forth in the last sentence opposite the caption “Change in Law”
above.
		
	 Loss of Stock Borrow:
	  	Applicable
		
	 Maximum Stock Loan Rate:
	  	200 basis points
		
	 Increased Cost of Stock Borrow:
	  	Applicable
		
	 Initial Stock Loan Rate:
	  	0 basis points until May 15, 2026 and 25 basis points thereafter.
		
	 Hedging Party:
	  	For all applicable Additional Disruption Events, Dealer.
		
	Determining Party:	  	For all applicable Extraordinary Events, Dealer. Following any determination by the Determining Party hereunder and a written request by Company, the Determining Party shall provide to Company by
e-mail to the e-mail address provided by Company a written explanation and report (in a commonly used file format for the storage and manipulation of financial data)
describing in reasonable detail any determination made by it (including, as applicable, any quotations, market data, information from internal sources used in making such determinations, descriptions of the methodology and any assumptions and basis
used in making such determination), it being understood that the Determining Party shall not be obligated to disclose any proprietary or confidential models or proprietary or confidential information used by it for such determination. All
calculations, adjustments and determinations by Dealer acting in its capacity as the Determining Party shall be made in good faith and in a commercially reasonable manner.
		
	Non-Reliance:	  	Applicable
		
	Agreements and Acknowledgments	  	
		
	Regarding Hedging Activities:	  	Applicable
		
	Additional Acknowledgments:	  	Applicable
		
	Hedging Adjustment:	  	For the avoidance of doubt, whenever Dealer, Determining Party or the Calculation Agent is permitted

  
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		  	to make an adjustment pursuant to the terms of this Confirmation or the Equity Definitions to take into account the effect of any event, the Calculation Agent, Determining Party or Dealer, as the case may be, shall make such
adjustment in a commercially reasonable manner and by reference to the effect of such event on Dealer assuming that Dealer maintains a commercially reasonable hedge position.

			
		
	 4.  Calculation Agent.
	  	Dealer, whose judgments, determinations and calculations shall be made in good faith and in a commercially reasonable manner; provided that, following the occurrence and during the continuance of an Event of Default of the type
described in Section 5(a)(vii) of the Agreement with respect to which Dealer is the sole Defaulting Party, Company shall have the right to designate a nationally recognized third-party dealer in over-the-counter corporate equity derivatives to act, during the period commencing on the date such Event of Default occurred and ending on the Early Termination Date with respect to such Event of Default
(or, if earlier, the date on which such Event of Default is no longer continuing), as the Calculation Agent. Following any determination or calculation by the Calculation Agent hereunder, upon written request by Company, the Calculation Agent shall
promptly (but in any event within three Scheduled Trading Days) provide to Company by e-mail to the e-mail address provided by Company in such request a report (in a
commonly used file format for the storage and manipulation of financial data) displaying in reasonable detail the basis for such determination or calculation (including any assumptions used in making such determination or calculation), it being
understood that the Calculation Agent shall not be obligated to disclose any proprietary or confidential models used by it for such determination or calculation or any information that may be proprietary or confidential.

  

	5.	 Account Details. 

 

	 	(a)	 Account for payments to Company: 

[●] 
 Account for delivery
of Shares from Company: 
 To be provided by Company. 
  

	 	(b)	 Account for payments to Dealer: 

[●] 
 Account for delivery
of Shares to Dealer: 
 To be provided by Dealer. 
  

	6.	 Offices. 

 

	 	(a)	 The Office of Company for the Transaction is: Inapplicable, Company is not a Multibranch Party.

  
 11 

	 	(b)	 The Office of Dealer for the Transaction is: [ 🌑 ]

  

	7.	 Notices. 

 

	 	(a)	 Address for notices or communications to Company: 

 

					
		  	[COMPANY]	  	
		  	Attention:	  	[●]
		  	Telephone No.:	  	[●]
		  	Facsimile No.:	  	[●]
		  	Email:	  	[●]

  

	 	(b)	 Address for notices or communications to Dealer: 

[●] 
  

	8.	 Representations and Warranties of Company. 

Company hereby represents and warrants to Dealer on the date hereof, on and as of the Premium Payment Date and, in the case of the
representations in Section 8(d), at all times until termination of the Transaction, that: 
  

	 	(a)	 Company has all necessary corporate power and authority to execute, deliver and perform its obligations in
respect of the Transaction; such execution, delivery and performance have been duly authorized by all necessary corporate action on Company’s part; and this Confirmation has been duly and validly executed and delivered by Company and
constitutes its valid and binding obligation, enforceable against Company in accordance with its terms, subject to applicable bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and similar laws affecting creditors’ rights
and remedies generally, and subject, as to enforceability, to general principles of equity, including principles of commercial reasonableness, good faith and fair dealing (regardless of whether enforcement is sought in a proceeding at law or in
equity) and except that rights to indemnification and contribution hereunder may be limited by federal or state securities laws or public policy relating thereto. 

 

	 	(b)	 Neither the execution and delivery of this Confirmation nor the incurrence or performance of obligations of
Company hereunder will conflict with or result in a breach of the certificate of incorporation or by-laws (or any equivalent documents) of Company, or any applicable law or regulation, or any order, writ,
injunction or decree of any court or governmental authority or agency, or any agreement or instrument filed as an exhibit to Company’s Annual Report on Form 10-K for the year ended December 31, 2020,
as updated by any subsequent filings, or constitute a default under, or result in the creation of any lien under, any such agreement or instrument. 

  

	 	(c)	 To Company’s knowledge, no consent, approval, authorization, or order of, or filing with, any governmental
agency or body or any court is required in connection with the execution, delivery or performance by Company of this Confirmation, except such as have been obtained or made and such as may be required under the Securities Act of 1933, as amended
(the “Securities Act”) or state securities laws; provided that Company makes no representation or warranty regarding any such requirement that is applicable generally to the ownership of equity securities by Dealer or any of
its affiliates solely as a result of it or any of such affiliates being a financial institution or broker-dealer. 

  

	 	(d)	 A number of Shares equal to the Maximum Number of Shares (as defined below) (the “Warrant
Shares”) have been reserved for issuance by all required corporate action of Company. The Warrant Shares have been duly authorized and, when delivered against payment therefor (which may include Net Share Settlement in lieu of cash) and
otherwise as contemplated by the terms of the Warrants following the exercise of the Warrants in accordance with the terms and conditions of the Warrants, will be validly issued, fully-paid and non-assessable,
and the issuance of the Warrant Shares will not be subject to any preemptive or similar rights, in each case. 

  
 12 

	 	(e)	 Company is not and, after consummation of the transactions contemplated hereby, will not be required to
register as an “investment company” as such term is defined in the Investment Company Act of 1940, as amended. 

  

	 	(f)	 Company is an “eligible contract participant” (as such term is defined in Section 1a(18) of the
Commodity Exchange Act, as amended, other than a person that is an eligible contract participant under Section 1a(18)(C) of the Commodity Exchange Act). 

  

	 	(g)	 Company is not, on the date hereof, in possession of any material
non-public information with respect to Company or the Shares. 

  

	 	(h)	 To the knowledge of Company, no state or local (including any non-U.S.
jurisdiction’s) law, rule, regulation or regulatory order applicable to the Shares would give rise to any reporting, consent, registration or other requirement (including without limitation a requirement to obtain prior approval from any person
or entity) as a result of Dealer or its affiliates owning or holding (however defined) Shares. 

  

	 	(i)	 Company (A) is capable of evaluating investment risks independently, both in general and with regard to
all transactions and investment strategies involving a security or securities; (B) will exercise independent judgment in evaluating the recommendations of any broker-dealer or its associated persons, unless it has otherwise notified the
broker-dealer in writing; and (C) has total assets of at least $50 million. 

  

	 	(j)	 The assets of Company do not constitute “plan assets” under the Employee Retirement Income Security
Act of 1974, as amended, the Department of Labor Regulations promulgated thereunder. 

  

	 	(k)	 [Company has received, read and understands the OTC Options Risk Disclosure Statement and a copy of the most
recent disclosure pamphlet prepared by The Options Clearing Corporation entitled “Characteristics and Risks of Standardized Options”.]3 

 

	9.	 Other Provisions. 

 

	 	(a)	 Opinions. Company shall deliver to Dealer one or more opinions of counsel, dated as of the
Premium Payment Date, given by Kirkland & Ellis LLP, with respect to the matters set forth in Sections 8(a) through (d) of this Confirmation; provided that any such opinion of counsel may contain customary exceptions and
qualifications including, without limitation, exceptions and qualifications relating to indemnification provisions. Delivery of such opinion to Dealer shall be a condition precedent for the purpose of Section 2(a)(iii) of the Agreement with
respect to each obligation of Dealer under Section 2(a)(i) of the Agreement. 

  

	 	(b)	 Repurchase Notices. Company shall, on or prior to the date one Scheduled Trading Day following
any date on which Company obtains actual knowledge that it has effected any repurchase of Shares, promptly give Dealer a written notice of such repurchase (a “Repurchase Notice”) if following such repurchase, the number of
outstanding Shares on such day, subject to any adjustments provided herein, is (i) less than 26.4 million (in the case of the first such notice) or (ii) thereafter more than 3.8 million less than the number of Shares included in the
immediately 

  

	3 	 Include only for U.S. broker-dealers. 

  
 13 

	 	
preceding Repurchase Notice. Company agrees to indemnify and hold harmless Dealer and its affiliates and their respective officers, directors, employees, affiliates, advisors, agents and
controlling persons (each, an “Indemnified Person”) from and against any and all commercially reasonable losses (including losses relating to Dealer’s commercially reasonable hedging activities as a consequence of becoming, or
of the risk of becoming, a Section 16 “insider”, including without limitation, any forbearance from commercially reasonable hedging activities or cessation of commercially reasonable hedging activities and any losses in connection
therewith with respect to the Transaction), claims, damages, judgments, liabilities and commercially reasonable expenses (including reasonable external attorney’s fees), joint or several, which an Indemnified Person may become subject to, in
each case, as a result of Company’s failure to provide Dealer with a Repurchase Notice when and in the manner specified in this paragraph, and to reimburse, within 30 days, upon written request, each of such Indemnified Persons for any
commercially reasonable legal or other expenses incurred in connection with investigating, preparing for, providing testimony or other evidence in connection with or defending any of the foregoing. If any suit, action, proceeding (including any
governmental or regulatory investigation), claim or demand shall be brought or asserted against the Indemnified Person as a result of Company’s failure to provide Dealer with a Repurchase Notice in accordance with this paragraph, such
Indemnified Person shall promptly notify Company in writing, and Company, upon request of the Indemnified Person, shall retain counsel reasonably satisfactory to the Indemnified Person to represent the Indemnified Person and any others Company may
designate in such proceeding and shall pay the commercially reasonable fees and expenses of such counsel related to such proceeding. Company shall not be liable for any settlement of any such proceeding contemplated by this paragraph that is
effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, Company agrees to indemnify any Indemnified Person from and against any loss or liability by reason of such settlement or
judgment. Company shall be relieved from liability to the extent that any Indemnified Person fails promptly to notify Company of any action commenced against it in respect of which indemnity may be sought hereunder to the extent Company is
materially prejudiced as a result thereof. Company shall not, without the prior written consent of the Indemnified Person, effect any settlement of any such proceeding contemplated by this paragraph that is pending or threatened in respect of which
any Indemnified Person is or could have been a party and indemnity could have been sought hereunder by such Indemnified Person, unless such settlement includes an unconditional release of such Indemnified Person from all liability on claims that are
the subject matter of such proceeding on terms reasonably satisfactory to such Indemnified Person. If the indemnification provided for in this paragraph is unavailable to an Indemnified Person or insufficient in respect of any losses, claims,
damages or liabilities referred to therein, then Company under such paragraph, in lieu of indemnifying such Indemnified Person thereunder, shall contribute to the amount paid or payable by such Indemnified Person as a result of such losses, claims,
damages or liabilities. The remedies provided for in this paragraph are not exclusive and shall not limit any rights or remedies which may otherwise be available to any Indemnified Person at law or in equity. The indemnity and contribution
agreements contained in this paragraph shall remain operative and in full force and effect regardless of the termination of the Transaction. 

  

	 	(c)	 Regulation M. Company is not on the Trade Date engaged in a distribution, as such term is used in
Regulation M under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and Company shall not, until the third Scheduled Trading Day immediately following the Trade Date, engage in such a distribution, in either
case, of any securities of Company, other than a distribution meeting the requirements of the exception set forth in Rules 101(b) and 102(b) of Regulation M. 

  

	 	(d)	 No Manipulation. Company is not entering into the Transaction to create actual or apparent
trading activity in the Shares (or any security convertible into or exchangeable for the Shares) or to raise or depress or otherwise manipulate the price of the Shares (or any security convertible into or exchangeable for the Shares) or otherwise in
violation of the Exchange Act. 

  
 14 

	 	(e)	 Transfer or Assignment. Company may not transfer any of its rights or obligations under the
Transaction without the prior written consent of Dealer. Dealer may, without Company’s consent, transfer or assign all or any part of its rights or obligations under the Transaction to any affiliate of Dealer, any internationally recognized
investment bank, or any fund or any asset manager with experience transacting in equity derivatives; provided that, in each case, as a result of such transfer or assignment, (i) as of the date of such transfer or assignment, Company will
not be required to pay the transferee or assignee on any payment date an amount under Section 2(d)(i)(4) of the Agreement greater than an amount that Company would have been required to pay to Dealer in the absence of such transfer or
assignment, (ii) such transferee provides either an IRS Form W-9 or W-8ECI (or successor form), and (iii) no Event of Default, Potential Event of Default or
Termination Event will occur as a result of such transfer and assignment. If at any time at which (A) the Section 16 Percentage exceeds 9.0%, (B) the Warrant Equity Percentage exceeds 14.5%, or (C) the Share Amount exceeds the
Applicable Share Limit (if any applies) (any such condition described in clauses (A), (B) or (C), an “Excess Ownership Position”), Dealer is unable after using its commercially reasonable efforts to effect a transfer or assignment
of Warrants in accordance with the preceding sentence on pricing terms reasonably acceptable to Dealer and within a time period reasonably acceptable to Dealer such that no Excess Ownership Position exists, then Dealer may designate any Exchange
Business Day as an Early Termination Date with respect to a portion of the Transaction (the “Terminated Portion”), such that following such partial termination no Excess Ownership Position exists. In the event that Dealer so
designates an Early Termination Date with respect to a Terminated Portion, a payment shall be made pursuant to Section 6 of the Agreement as if (1) an Early Termination Date had been designated in respect of a Transaction having terms
identical to the Transaction and a Number of Warrants equal to the number of Warrants underlying the Terminated Portion, (2) Company were the sole Affected Party with respect to such partial termination and (3) the Terminated Portion were
the sole Affected Transaction (and, for the avoidance of doubt, Company shall be able to settle any corresponding obligation in cash or Shares (or the Share Termination Alternative, as the case may be), in its discretion in accordance with the
provisions of Section 9(j)). The “Section 16 Percentage” as of any day is the fraction, expressed as a percentage, (A) the numerator of which is the number of Shares that Dealer and any of its affiliates
or any other person subject to aggregation with Dealer for purposes of the “beneficial ownership” test under Section 13 of the Exchange Act, or any “group” (within the meaning of Section 13 of the Exchange Act) of which
Dealer is or may be deemed to be a part beneficially owns (within the meaning of Section 13 of the Exchange Act), without duplication, on such day (or, to the extent that for any reason the equivalent calculation under Section 16 of the
Exchange Act and the rules and regulations thereunder results in a higher number, such higher number) and (B) the denominator of which is the number of Shares outstanding on such day. The “Warrant Equity Percentage” as of any
day is the fraction, expressed as a percentage, (A) the numerator of which is the sum of (1) the product of the Number of Warrants and the Warrant Entitlement and (2) the aggregate number of Shares underlying any other warrants
purchased by Dealer from Company, and (B) the denominator of which is the number of Shares outstanding. The “Share Amount” as of any day is the number of Shares that Dealer and any person whose ownership position would be
aggregated with that of Dealer (Dealer or any such person, a “Dealer Person”) under any law, rule, regulation, regulatory order or organizational documents or contracts of Company that are, in each case, applicable to ownership of
Shares (“Applicable Restrictions”), owns, beneficially owns, constructively owns, controls, holds the power to vote or otherwise meets a relevant definition of ownership under any Applicable Restriction, as determined by Dealer in
its reasonable discretion. The “Applicable Share Limit” means a number of Shares equal to (A) the minimum number of Shares that, in Dealer’s reasonable judgment based on advice of counsel, could give rise to reporting or
registration obligations (except for any filing requirements on Form 13F, Schedule 13D or Schedule 13G under the Exchange Act, in each case, as in effect on the Trade Date) or other requirements (including obtaining prior approval from any person or
entity) of a Dealer Person, or could result in an adverse effect on a Dealer Person, under any Applicable Restriction, as determined by Dealer in its reasonable discretion, minus (B) 1% of the number of Shares outstanding. Notwithstanding any
other provision in this Confirmation to the contrary requiring or allowing Dealer to purchase, sell, receive or deliver any Shares or other securities, or make or 

  
 15 

	 	
receive any payment in cash, to or from Company, Dealer may designate any of its affiliates to purchase, sell, receive or deliver such Shares or other securities, or make or receive such payment
in cash, and otherwise to perform Dealer’s obligations in respect of the Transaction and any such designee may assume such obligations. Dealer shall be discharged of its obligations to Company to the extent of any such performance. Dealer shall
provide Company with written notice of any transfer or assignment on, or as promptly as practicable after, the date of such transfer or assignment. 

  

	 	(f)	 Dividends. If at any time during the period from and including the Effective Date, to and
including the last Expiration Date, (i) an ex-dividend date for a cash dividend occurs with respect to the Shares (an “Ex-Dividend Date”), and that
dividend differs from the Regular Dividend on a per Share basis or (ii) if no Ex-Dividend Date for a cash dividend occurs with respect to the Shares in any quarterly dividend period of Company, then the
Calculation Agent will adjust any of the Strike Price, Number of Warrants, Daily Number of Warrants and/or any other variable relevant to the exercise, settlement or payment of the Transaction to preserve the fair value of the Warrants to Dealer
after taking into account such dividend or lack thereof. “Regular Dividend” shall mean for any calendar quarter, USD 0.10 for the first regular cash dividend or distribution on the Shares for which the
Ex-Dividend Date falls within such calendar quarter, and zero for any other dividend or distribution on the Shares for which the Ex-Dividend Date falls within the same
calendar quarter. 

  

	 	(g)	 [QFC Stay Rules. The parties agree that (i) to the extent that prior to the date hereof both
parties have adhered to the 2018 ISDA U.S. Resolution Stay Protocol (the “Protocol”), the terms of the Protocol are incorporated into and form a part of this Confirmation, and for such purposes this Confirmation shall be deemed a
Protocol Covered Agreement and each party shall be deemed to have the same status as Regulated Entity and/or Adhering Party as applicable to it under the Protocol; (ii) to the extent that prior to the date hereof the parties have executed a
separate agreement the effect of which is to amend the qualified financial contracts between them to conform with the requirements of the QFC Stay Rules (the “Bilateral Agreement”), the terms of the Bilateral Agreement are
incorporated into and form a part of this Confirmation and each party shall be deemed to have the status of “Covered Entity” or “Counterparty Entity” (or other similar term) as applicable to it under the Bilateral Agreement; or
(iii) if clause (i) and clause (ii) do not apply, the terms of Section 1 and Section 2 and the related defined terms (together, the “Bilateral Terms”) of the form of bilateral template entitled
“Full-Length Omnibus (for use between U.S. G-SIBs and Corporate Groups)” published by ISDA on November 2, 2018 (currently available on the 2018 ISDA U.S. Resolution Stay Protocol page at
www.isda.org and a copy of which is available upon request), the effect of which is to amend the qualified financial contracts between the parties thereto to conform with the requirements of the QFC Stay Rules, are hereby incorporated into and form
a part of this Confirmation, and for such purposes this Confirmation shall be deemed a “Covered Agreement,” Dealer shall be deemed a “Covered Entity” and Company shall be deemed a “Counterparty Entity.” In the event
that, after the date of this Confirmation, both parties hereto become adhering parties to the Protocol, the terms of the Protocol will replace the terms of this paragraph. In the event of any inconsistencies between this Confirmation and the terms
of the Protocol, the Bilateral Agreement or the Bilateral Terms (each, the “QFC Stay Terms”), as applicable, the QFC Stay Terms will govern. Terms used in this paragraph without definition shall have the meanings assigned to them
under the QFC Stay Rules. For purposes of this paragraph, references to “this Confirmation” include any related credit enhancements entered into between the parties or provided by one to the other. “QFC Stay Rules” means
the regulations codified at 12 C.F.R. 252.2, 252.81–8, 12 C.F.R. 382.1-7 and 12 C.F.R. 47.1-8, which, subject to limited exceptions, require an express recognition
of the stay-and-transfer powers of the FDIC under the Federal Deposit Insurance Act and the Orderly Liquidation Authority under Title II of the Dodd Frank Wall Street
Reform and Consumer Protection Act and the override of default rights related directly or indirectly to the entry of an affiliate into certain insolvency proceedings and any restrictions on the transfer of any covered affiliate credit enhancements.]6  

  

	6 	 To be updated as appropriate to reflect each Dealer’s requirements. 

  
 16 

	 	(h)	 Additional Provisions. 

 

	 	(i)	 Amendments to the Equity Definitions: 

 

	 	(A)	 Section 11.2(a) of the Equity Definitions is hereby amended by deleting the words “a diluting or
concentrative” and replacing them with the words “a material”; and adding the phrase “or Warrants” at the end of the sentence. 

  

	 	(B)	 Section 11.2(c) of the Equity Definitions is hereby amended by (w) replacing the words “a
diluting or concentrative” with “a material” in the fifth line thereof, (x) adding the phrase “or Warrants” after the words “the relevant Shares” in the same sentence, (y) deleting the words
“diluting or concentrative” in the sixth to last line thereof and (z) deleting the phrase “(provided that no adjustments will be made to account solely for changes in volatility, expected dividends, stock loan rate or liquidity
relative to the relevant Shares)” and replacing it with the phrase “(and, for the avoidance of doubt, adjustments shall be made to account solely for changes in volatility, expected dividends, stock loan rate or liquidity relative to the
relevant Shares).” 

  

	 	(C)	 Section 11.2(e)(vii) of the Equity Definitions is hereby replaced in its entirety with the words “any
other corporate event involving the Issuer or a subsidiary of the Issuer that has a material economic effect on the Shares or Warrants.” 

  

	 	(D)	 Section 12.6(a)(ii) of the Equity Definitions is hereby amended by (1) deleting from the fourth line
thereof the word “or” after the word “official” and inserting a comma therefor, and (2) deleting the semi-colon at the end of subsection (B) thereof and inserting the following words therefor “or (C) the
occurrence of any of the events specified in Section 5(a)(vii) (1) through (9) of the ISDA Master Agreement with respect to that Issuer.” 

  

	 	(E)	 Section 12.9(b)(iv) of the Equity Definitions is hereby amended by: 

 

	 	(x)	 deleting (1) subsection (A) in its entirety, (2) the phrase “or (B)” following subsection
(A) and (3) the phrase “in each case” in subsection (B); and 

  

	 	(y)	 replacing the phrase “neither the Non-Hedging Party nor the
Lending Party lends Shares” with the phrase “such Lending Party does not lend Shares” in the penultimate sentence. 

  

	 	(F)	 Section 12.9(b)(v) of the Equity Definitions is hereby amended by: 

 

	 	(x)	 adding the word “or” immediately before subsection “(B)” and deleting the comma at the end
of subsection (A); and 

  

	 	(y)	 (1) deleting subsection (C) in its entirety, (2) deleting the word “or” immediately
preceding subsection (C), (3) deleting the penultimate sentence in its entirety and replacing it with the sentence “The Hedging Party will determine the Cancellation Amount payable by one party to the other.” and (4) deleting clause
(X) in the final sentence. 

  

	 	(G)	 Section 12.9(b)(vi) of the Equity Definitions is hereby amended by: 

 

	 	(x)	 adding the word “or” immediately before subsection “(B)” and deleting the comma at the end
of subsection (A); and 

  
 17 

	 	(y)	 (1) deleting subsection (C) in its entirety, (2) deleting the word “or” immediately
preceding subsection (C) and (3) deleting the final sentence in its entirety and replacing it with the sentence “The Hedging Party will determine the Cancellation Amount payable by one party to the other.” 

 

	 	(ii)	 Notwithstanding anything to the contrary in this Confirmation, upon the occurrence of one of the following
events, with respect to the Transaction, (1) Dealer shall have the right to designate such event an Additional Termination Event and designate an Early Termination Date pursuant to Section 6(b) of the Agreement, (2) Company shall be
deemed the sole Affected Party with respect to such Additional Termination Event and (3) the Transaction, or, at the election of Dealer in its sole discretion, any portion of the Transaction, shall be deemed the sole Affected Transaction;
provided that if Dealer so designates an Early Termination Date with respect to a portion of the Transaction, (a) a payment shall be made pursuant to Section 6 of the Agreement as if an Early Termination Date had been designated in
respect of a Transaction having terms identical to the Transaction and a Number of Warrants equal to the number of Warrants included in the terminated portion of the Transaction, and (b) for the avoidance of doubt, the Transaction shall remain
in full force and effect except that the Number of Warrants shall be reduced by the number of Warrants included in such terminated portion: 

  

	 	(A)	 Except in connection with transactions described in clause (B) below, a “person” or
“group” within the meaning of Section 13(d) of the Exchange Act, other than Company, its direct or indirect wholly owned subsidiaries and its and their employee benefit plans, has become and files a Schedule TO (or any successor
schedule, form or report) or any schedule, form or report under the Exchange Act that discloses that such person or group has become the direct or indirect “beneficial owner,” as defined in Rule
13d-3 under the Exchange Act, of the Shares representing more than 50% of the voting power of the Shares, unless such beneficial ownership arises solely as a result of a revocable proxy delivered in response
to a public proxy or consent solicitation made pursuant to the applicable rules and regulations under the Exchange Act and is not also then reportable on Schedule 13D or Schedule 13G (or any successor schedule) under the Exchange Act regardless of
whether such a filing has actually been made; provided that no person or group shall be deemed to be the beneficial owner of any securities tendered pursuant to a tender or exchange offer made by or on behalf of such “person” or
“group” until such tendered securities are accepted for purchase or exchange under such offer. 

  

	 	(B)	 Consummation of (I) any recapitalization, reclassification or change of the Shares (other than a change to
par value, or from par value to no par value, or changes resulting from a subdivision or combination) as a result of which the Shares would be converted into, or exchanged for, stock, other securities, other property or assets, (II) any share
exchange, consolidation or merger of Company pursuant to which the Shares will be converted into or exchanged for cash, securities or other property or assets or (III) any sale, lease or other transfer in one transaction or a series of
transactions of all or substantially all of the consolidated assets of Company and its subsidiaries, taken as a whole, to any person other than one or more of Company’s direct or indirect wholly owned subsidiaries. Notwithstanding the
foregoing, any transaction or transactions set forth in this clause (B) shall not constitute an Additional Termination Event if (x) at least 90% of the consideration received or to be received by holders of the Shares, excluding cash
payments for fractional Shares and cash payments made in respect of dissenters’ appraisal rights, in connection with such transaction or transactions consists of shares of common stock that are listed or quoted on any of The New York Stock
Exchange, The Nasdaq Global Select Market or The 

  
 18 

	 	
Nasdaq Global Market (or any of their respective successors) or will be so listed or quoted when issued or exchanged in connection with such transaction or transactions, and (y) as a result
of such transaction or transactions, the Shares will consist of such consideration, excluding cash payments for fractional Shares and cash payments made in respect of dissenters’ appraisal rights. 

 

	 	(C)	 Default by Company or any of its significant subsidiaries with respect to any mortgage, agreement or other
instrument under which there may be outstanding, or by which there may be secured or evidenced, any indebtedness for money borrowed in excess of $50,000,000 (or its foreign currency equivalent) in the aggregate of Company and/or any such significant
subsidiary, whether such indebtedness now exists or shall hereafter be created (i) resulting in such indebtedness becoming or being declared due and payable or (ii) constituting a failure to pay the principal of any such debt when due and
payable (after the expiration of all applicable grace periods) at its stated maturity, upon required repurchase, upon declaration of acceleration or otherwise, and in the cases of clauses (i) and (ii), such acceleration shall not have been
rescinded or annulled or such failure to pay or default shall not have been cured or waived, as the case may be, within 30 days after written notice to Company. A “significant subsidiary,” for purposes of this clause (C), is a subsidiary
that is a “significant subsidiary” as defined in Article 1, Rule 1-02(w) of Regulation S-X promulgated by the SEC; provided that, in the case of a
subsidiary that meets the criteria of clause 1(iii) of the definition thereof but not clause 1(i) or 1(ii) thereof, such subsidiary shall not be deemed to be a significant subsidiary unless the subsidiary’s income from continuing operations
before income taxes exclusive of amounts attributable to any non-controlling interests for the last completed fiscal year prior to the date of such determination exceeds $25,000,000. For the avoidance of
doubt, to the extent any such subsidiary would not be deemed to be a “significant subsidiary” under the relevant definition set forth in Article 1, Rule 1-02(w) of Regulation S-X (or any successor rule) as in effect on the relevant date of determination, such subsidiary shall not be deemed to be a “significant subsidiary” under this Confirmation irrespective of whether such
subsidiary has greater than $25,000,000 in income from continuing operations as described in the immediately preceding sentence. 

  

	 	(D)	 Dealer, despite using commercially reasonable efforts, is unable or reasonably determines, based on the advice
of counsel, that it is impractical or illegal, to hedge its exposure with respect to the Transaction in the public market without registration under the Securities Act or as a result of any legal, regulatory or self-regulatory requirements or
related policies and procedures (whether or not such requirements, policies or procedures are imposed by law or have been voluntarily adopted by Dealer). 

  

	 	(i)	 No Collateral or Setoff. Notwithstanding any provision of the Agreement or any other
agreement between the parties to the contrary, the obligations of Company hereunder are not secured by any collateral. Both parties waive any rights to set-off or netting, including in any bankruptcy
proceedings of Company, amounts due either party with respect to any Transaction hereunder against amounts due to either party from the other party under any other agreement between the parties. 

 

	 	(j)	 Alternative Calculations and Payment on Early Termination and on Certain Extraordinary Events.

 If (a) an Early Termination Date (whether as a result of an Event of Default or a Termination Event) occurs or is
designated with respect to the Transaction or (b) the Transaction is cancelled or terminated upon the occurrence of an Extraordinary Event (except as a result of (i) a 

  
 19 

 
Nationalization, Insolvency or Merger Event in which the consideration to be paid to all holders of Shares consists solely of cash, (ii) a Merger Event or Tender Offer that is within
Company’s control, or (iii) an Event of Default in which Company is the Defaulting Party or a Termination Event in which Company is the Affected Party other than an Event of Default of the type described in Section 5(a)(iii), (v),
(vi), (vii) or (viii) of the Agreement or a Termination Event of the type described in Section 5(b) of the Agreement, in each case that resulted from an event or events outside Company’s control), and if Company would owe any amount
to Dealer pursuant to Section 6(d)(ii) of the Agreement or any Cancellation Amount pursuant to Article 12 of the Equity Definitions (any such amount, a “Payment Obligation”), then Company shall satisfy the Payment Obligation by
the Share Termination Alternative (as defined below), unless (a) Company gives irrevocable telephonic notice to Dealer, confirmed in writing within one Scheduled Trading Day, no later than 12:00 p.m. (New York City time) on the Merger Date,
Tender Offer Date, Announcement Date (in the case of a Nationalization, Insolvency or Delisting), Early Termination Date or date of cancellation, as applicable, of its election that the Share Termination Alternative shall not apply and
(b) Company acknowledges to Dealer, as of the date of such election, its responsibilities under applicable securities laws, and in particular Section 9 and Section 10(b) of the Exchange Act and the rules and regulations thereunder, in
connection with such election, in which case the provisions of Section 12.7 or Section 12.9 of the Equity Definitions, or the provisions of Section 6(d)(ii) of the Agreement, as the case may be, shall apply. 

 

					
		 	Share Termination Alternative:	  	If applicable, Company shall deliver to Dealer the Share Termination Delivery Property on the date (the “Share Termination Payment Date”) on which the Payment Obligation would otherwise be due pursuant to Section 12.7
or Section 12.9 of the Equity Definitions or Section 6(d)(ii) of the Agreement, as applicable, subject to Section 9(k)(i) below, in satisfaction, subject to Section 9(k)(ii) below, of the relevant Payment Obligation, in the
manner reasonably requested by Dealer free of payment.
			
		 	Share Termination Delivery	  	
			
		 	Property:	  	A number of Share Termination Delivery Units, as calculated by the Calculation Agent, equal to the relevant Payment Obligation divided by the Share Termination Unit Price. The Calculation Agent shall adjust the amount of Share
Termination Delivery Property by replacing any fractional portion of a security therein with an amount of cash equal to the value of such fractional security based on the values used to calculate the Share Termination Unit Price (without giving
effect to any discount pursuant to Section 9(k)(i)).
			
		 	Share Termination Unit Price:	  	The value to Dealer of property contained in one Share Termination Delivery Unit on the date such Share Termination Delivery Units are to be delivered as Share Termination Delivery Property, as determined by the Calculation Agent in
its discretion by commercially reasonable means. In the case of a Private Placement of Share Termination Delivery Units that are Restricted Shares (as defined below), as set forth in Section 9(k)(i) below, the Share Termination Unit Price shall
be determined by the discounted price applicable to such Share Termination Delivery Units. In the case of a

  
 20 

					
		 		  	Registration Settlement of Share Termination Delivery Units that are Restricted Shares (as defined below) as set forth in Section 9(k)(ii) below, notwithstanding the foregoing, the Share Termination Unit Price shall be the
Settlement Price on the Merger Date, Tender Offer Date, Announcement Date (in the case of a Nationalization, Insolvency or Delisting), Early Termination Date or date of cancellation, as applicable. The Calculation Agent shall notify Company of the
Share Termination Unit Price at the time of notification of such Payment Obligation to Company or, if applicable, at the time the discounted price applicable to the relevant Share Termination Units is determined pursuant to
Section 9(k)(i).
			
		 	Share Termination Delivery Unit:	  	One Share or, if the Shares have changed into cash or any other property or the right to receive cash or any other property as the result of a Nationalization, Insolvency or Merger Event (any such cash or other property, the
“Exchange Property”), a unit consisting of the type and amount of Exchange Property received by a holder of one Share (without consideration of any requirement to pay cash or other consideration in lieu of fractional amounts of any
securities) in such Nationalization, Insolvency or Merger Event. If such Nationalization, Insolvency or Merger Event involves a choice of Exchange Property to be received by holders, such holder shall be deemed to have elected to receive the maximum
possible amount of cash.
			
		 	Failure to Deliver:	  	Inapplicable
			
		 	Other applicable provisions:	  	If Share Termination Alternative is applicable, the provisions of Sections 9.8, 9.9, 9.11 and 9.12 (as modified above) of the Equity Definitions will be applicable, except that all references in such provisions to
“Physically-settled” shall be read as references to “Share Termination Settled” and all references to “Shares” shall be read as references to “Share Termination Delivery Units”. “Share Termination
Settled” in relation to the Transaction means that the Share Termination Alternative is applicable to the Transaction.

  

	 	(k)	 Registration/Private Placement Procedures. If, in the good faith reasonable opinion of Dealer and
based on the advice of counsel, following any delivery of Shares or Share Termination Delivery Property to Dealer hereunder, such Shares or Share Termination Delivery Property would be in the hands of Dealer subject to any applicable restrictions
with respect to any registration or qualification requirement or prospectus delivery requirement for such Shares or Share Termination Delivery Property pursuant to any applicable federal or state securities law (including, without limitation, any
such requirement arising under Section 5 of the Securities Act as a result of such Shares or Share Termination Delivery Property being “restricted securities”, as such term is defined in Rule 144 under the Securities Act, or as a
result of the sale of such Shares or Share Termination Delivery Property being subject to paragraph (c) of Rule 145 under the Securities 

  
 21 

	 	
Act) (such Shares or Share Termination Delivery Property, “Restricted Shares”), then delivery of such Restricted Shares shall be effected pursuant to either clause (i) or
(ii) below at the election of Company, unless Dealer waives the need for registration/private placement procedures set forth in (i) and (ii) below. Notwithstanding the foregoing, solely in respect of any Daily Number of Warrants exercised or
deemed exercised on any Expiration Date, if Dealer notifies Company of the need for registration or private placement procedures set forth in this Section 9(k), then Company shall elect, prior to the later of (x) the first Settlement Date
for the first applicable Expiration Date and (y) the third Scheduled Trading Day following the date of such notification, a Private Placement Settlement or Registration Settlement for all deliveries of Restricted Shares for all such Expiration
Dates which election shall be applicable to all remaining Settlement Dates for such Warrants and the procedures in clause (i) or clause (ii) below shall apply for all such delivered Restricted Shares on an aggregate basis commencing after
the final Settlement Date for such Warrants. The Calculation Agent shall make commercially reasonable adjustments to settlement terms and provisions under this Confirmation to reflect a single Private Placement or Registration Settlement for such
aggregate Restricted Shares delivered hereunder. 

  

	 	(i)	 If Company elects to settle the Transaction pursuant to this clause (i) (a “Private Placement
Settlement”), then delivery of Restricted Shares by Company shall be effected in accordance with private placement procedures with respect to such Restricted Shares customary for private placements of equity securities of a substantially
similar size reasonably acceptable to Dealer; provided that Company may not elect a Private Placement Settlement if, on the date of its election, it has taken, or caused to be taken, any action that would make unavailable either the exemption
pursuant to Section 4(a)(2) of the Securities Act for the sale by Company to Dealer (or any affiliate designated by Dealer) of the Restricted Shares or the exemption pursuant to Section 4(a)(1) or Section 4(a)(3) of the Securities Act
for resales of the Restricted Shares by Dealer (or any such affiliate of Dealer). The Private Placement Settlement of such Restricted Shares shall include customary representations, covenants, blue sky and other governmental filings and/or
registrations, indemnities to Dealer, due diligence rights (for Dealer or any designated buyer of the Restricted Shares by Dealer), opinions and certificates, and such other documentation as is customary for private placement agreements of equity
securities of a substantially similar size, all reasonably acceptable to Dealer. In the case of a Private Placement Settlement, Dealer shall determine the appropriate discount to the Share Termination Unit Price (in the case of settlement of Share
Termination Delivery Units pursuant to Section 9(j) above) or premium to any Settlement Price (in the case of settlement of Shares pursuant to Section 2 above) applicable to such Restricted Shares in a commercially reasonable manner and
appropriately adjust the number of such Restricted Shares to be delivered to Dealer hereunder. Notwithstanding anything to the contrary in the Agreement or this Confirmation, the date of delivery of such Restricted Shares shall be the Exchange
Business Day following notice by Dealer to Company of such applicable discount or premium, as the case may be, and the number of Restricted Shares to be delivered pursuant to this clause (i). For the avoidance of doubt, delivery of Restricted Shares
shall be due as set forth in the previous sentence and not be due on the Share Termination Payment Date (in the case of settlement of Share Termination Delivery Units pursuant to Section 9(j) above) or on the Settlement Date for such Restricted
Shares (in the case of settlement in Shares pursuant to Section 2 above). 

  

	 	(ii)	 If Company elects to settle the Transaction pursuant to this clause (ii) (a “Registration
Settlement”), then Company shall promptly (but in any event no later than the beginning of the Resale Period) file and use its reasonable best efforts to make effective under the Securities Act a registration statement or supplement or
amend an outstanding registration statement in form and substance reasonably satisfactory to Dealer, to cover the resale of such Restricted Shares in accordance with customary resale registration procedures for registered secondary offerings of a
substantially similar size, including covenants, conditions, representations, underwriting discounts (if applicable), commissions (if applicable), indemnities due diligence rights, opinions and certificates,

  
 22 

	 	
and such other documentation as is customary for equity resale underwriting agreements for registered secondary offerings of a substantially similar size and comparably sized companies, all
reasonably acceptable to Dealer. If Dealer, in its sole reasonable discretion, is not satisfied with such procedures and documentation Private Placement Settlement shall apply. If Dealer is satisfied with such procedures and documentation, it shall
sell the Restricted Shares pursuant to such registration statement during a period (the “Resale Period”) commencing on the Exchange Business Day following delivery of such Restricted Shares (which, for the avoidance of doubt, shall
be (x) the Share Termination Payment Date in case of settlement in Share Termination Delivery Units pursuant to Section 9(j) above or (y) the Settlement Date in respect of the final Expiration Date for all Daily Number of Warrants)
and ending on the Exchange Business Day on which Dealer completes the sale of all Restricted Shares or, in the case of settlement of Share Termination Delivery Units, a sufficient number of Restricted Shares so that the realized net proceeds of such
sales equals or exceeds the Payment Obligation (as defined above). If the Payment Obligation exceeds the realized net proceeds from such resale, Company shall transfer to Dealer by the open of the regular trading session on the Exchange on the
Exchange Business Day immediately following such resale the amount of such excess (the “Additional Amount”) in cash or in a number of Shares (“Make-whole Shares”) in an amount that, based on the Settlement Price on
such day (as if such day was the “Valuation Date” for purposes of computing such Settlement Price), has a dollar value equal to the Additional Amount. The Resale Period shall continue to enable the sale of the Make-whole Shares. If Company
elects to pay the Additional Amount in Shares, the requirements and provisions for Registration Settlement shall apply. This provision shall be applied successively until the Additional Amount is equal to zero. In no event shall Company deliver a
number of Restricted Shares greater than the Maximum Number of Shares. 

  

	 	(iii)	 Without limiting the generality of the foregoing, Company agrees that (A) any Restricted Shares delivered
to Dealer may be transferred by and among Dealer and its affiliates and Company shall effect such transfer without any further action by Dealer and (B) after the period of 6 months from the Trade Date (or 1 year from the Trade Date if, at such
time, informational requirements of Rule 144(c) under the Securities Act are not satisfied with respect to Company) has elapsed in respect of any Restricted Shares delivered to Dealer, Company shall promptly remove, or cause the transfer agent for
such Restricted Shares to remove, any legends referring to any such restrictions or requirements from such Restricted Shares upon request by Dealer (or such affiliate of Dealer) to Company or such transfer agent, without any requirement for the
delivery of any certificate, consent, agreement, opinion of counsel, notice or any other document, any transfer tax stamps or payment of any other amount or any other action by Dealer (or such affiliate of Dealer). Notwithstanding anything to the
contrary herein, to the extent the provisions of Rule 144 of the Securities Act or any successor rule are amended, or the applicable interpretation thereof by the Securities and Exchange Commission or any court change after the Trade Date, the
agreements of Company herein shall be deemed modified to the extent necessary, in the opinion of outside counsel of Company, to comply with Rule 144 of the Securities Act, as in effect at the time of delivery of the relevant Shares or Share
Termination Delivery Property. 

  

	 	(iv)	 If the Private Placement Settlement or the Registration Settlement shall not be effected as set forth in
clauses (i) or (ii), as applicable, then failure to effect such Private Placement Settlement or such Registration Settlement shall constitute an Event of Default with respect to which Company shall be the Defaulting Party.

  

	 	(l)	 Limit on Beneficial Ownership. Notwithstanding any other provisions hereof, Dealer may not
exercise any Warrant hereunder or be entitled to take delivery of any Shares deliverable hereunder, and Automatic Exercise shall not apply with respect to any Warrant hereunder, to the extent (but only to the extent) that, after such receipt of any
Shares upon the exercise of such 

  
 23 

	 	
Warrant or otherwise hereunder [and after taking into account any Shares deliverable to Dealer under the letter agreement dated [ ● ], 2021 between Dealer and Company regarding Base
Warrants (the “Base Warrant Confirmation”)]7, (i) the Section 16 Percentage would exceed 4.9%, or (ii) the Share Amount would exceed the Applicable Share Limit. Any
purported delivery hereunder shall be void and have no effect to the extent (but only to the extent) that, after such delivery [and after taking into account any Shares deliverable to Dealer under the Base Warrant Confirmation]8, (i) the Section 16 Percentage would exceed 4.9%, or (ii) the Share Amount would exceed the Applicable Share Limit. If any delivery owed to Dealer hereunder is not made, in whole or in
part, as a result of this provision, Company’s obligation to make such delivery shall not be extinguished and Company shall make such delivery as promptly as practicable after, but in no event later than one Business Day after, Dealer gives
notice to Company that, after such delivery, (i) the Section 16 Percentage would not exceed 4.9%, and (ii) the Share Amount would not exceed the Applicable Share Limit. 

 

	 	(m)	 Share Deliveries. Notwithstanding anything to the contrary herein, Company agrees that any
delivery of Shares or Share Termination Delivery Property shall be effected by book-entry transfer through the facilities of DTC, or any successor depositary, if at the time of delivery, such class of Shares or class of Share Termination Delivery
Property is in book-entry form at DTC or such successor depositary. 

  

	 	(n)	 Waiver of Jury Trial. Each party waives, to the fullest extent permitted by applicable law, any
right it may have to a trial by jury in respect of any suit, action or proceeding relating to the Transaction. Each party (i) certifies that no representative, agent or attorney of the other party has represented, expressly or otherwise, that
such other party would not, in the event of such a suit, action or proceeding, seek to enforce the foregoing waiver and (ii) acknowledges that it and the other party have been induced to enter into the Transaction, as applicable, by, among
other things, the mutual waivers and certifications provided herein. 

  

	 	(o)	 Tax Disclosure. Effective from the date of commencement of discussions concerning the
Transaction, Company and each of its employees, representatives, or other agents may disclose to any and all persons, without limitation of any kind, the tax treatment and tax structure of the Transaction and all materials of any kind (including
opinions or other tax analyses) that are provided to Company relating to such tax treatment and tax structure. 

  

	 	(p)	 Maximum Share Delivery. 

 

	 	(i)	 Notwithstanding any other provision of this Confirmation, the Agreement or the Equity Definitions, in no event
will Company at any time be required to deliver a number of Shares greater than [Insert Number Equal to Two times the Number of Shares on the Trade Date] (the “Maximum Number of Shares”) to Dealer in connection with the
Transaction.9 

  

	 	(ii)	 In the event Company shall not have delivered to Dealer the full number of Shares or Restricted Shares
otherwise deliverable by Company to Dealer pursuant to the terms of the Transaction because Company has insufficient authorized but unissued Shares that are not reserved for other transactions (such deficit, the “Deficit Shares”),
Company shall be continually obligated to deliver, from time to time, Shares or Restricted Shares, as the case may be, to Dealer until the full number of Deficit Shares have been delivered pursuant to this Section 9(p)(ii), when, and to the
extent that, (A) Shares are repurchased, 

	 	 	 

 

	7 	 Include in Additional Warrant Confirmation. 

	8 	 Include in Additional Warrant Confirmation. 

	9 	 NTD: The share reservation for each individual confirmation will be two times the “Number of
Shares” for such confirmation. The “Number of Shares” for each confirmation will be equal to (i) the number of Convertible Notes initially issued on the closing date for the Convertible Notes (or, for the Additional Warrant
Confirmations, the number of additional Convertible Notes issued in respect of the greenshoe exercise), multiplied by (ii) the initial Conversion Rate, multiplied by (iii) the applicable percentage for the relevant Dealer.

  
 24 

	 	
acquired or otherwise received by Company or any of its subsidiaries after the Trade Date (whether or not in exchange for cash, fair value or any other consideration), (B) authorized and unissued
Shares previously reserved for issuance in respect of other transactions become no longer so reserved or (C) Company additionally authorizes any unissued Shares that are not reserved for other transactions; provided that in no event
shall Company deliver any Shares or Restricted Shares to Dealer pursuant to this Section 9(p)(ii) to the extent that such delivery would cause the aggregate number of Shares and Restricted Shares delivered to Dealer to exceed the Maximum Number
of Shares. Company shall immediately notify Dealer of the occurrence of any of the foregoing events (including the number of Shares subject to clause (A), (B) or (C) and the corresponding number of Shares or Restricted Shares, as the case may
be, to be delivered) and promptly deliver such Shares or Restricted Shares, as the case may be, thereafter. 

  

	 	(q)	 [Reserved] 

  

	 	(r)	 Right to Extend. Dealer may postpone or add, in whole or, other than in the event Dealer
determines in good faith that such postponement or addition resulted solely pursuant to the circumstances set forth in clause (ii)(y) below, in part, any Expiration Date or any other date of valuation, payment or delivery with respect to some or all
of the relevant Warrants (in which event the Calculation Agent shall make appropriate adjustments to the Daily Number of Warrants with respect to one or more Expiration Dates) if Dealer determines, based on the advice of counsel in the case of the
immediately following clause (ii), that such extension is reasonably necessary or appropriate (i) to preserve Dealer’s commercially reasonable hedging or hedge unwind activity hereunder in light of existing liquidity conditions or
(ii) to enable Dealer to effect purchases of Shares in connection with its commercially reasonable hedging, hedge unwind or settlement activity hereunder in a manner that would, if Dealer were Issuer or an affiliated purchaser of Issuer, be in
compliance with (x) applicable legal, regulatory or self-regulatory requirements, or (y) with related policies and procedures applicable to Dealer (so long as such policies or procedures are consistently applied to transactions similar to
the Transaction); provided that no such Expiration Date or other date of valuation, payment or delivery may be postponed or added more than 80 Exchange Business Days after the original Expiration Date or other date of valuation, payment or
delivery, as the case may be. 

  

	 	(s)	 Status of Claims in Bankruptcy. Dealer acknowledges and agrees that this Confirmation is
not intended to convey to Dealer rights against Company with respect to the Transaction that are senior to the claims of common stockholders of Company in any United States bankruptcy proceedings of Company; provided that nothing herein shall
limit or shall be deemed to limit Dealer’s right to pursue remedies in the event of a breach by Company of its obligations and agreements with respect to the Transaction; provided, further, that nothing herein shall limit or shall
be deemed to limit Dealer’s rights in respect of any transactions other than the Transaction. 

  

	 	(t)	 Securities Contract; Swap Agreement. The parties hereto intend for (i) the Transaction to be
a “securities contract” and a “swap agreement” as defined in the Bankruptcy Code (Title 11 of the United States Code) (the “Bankruptcy Code”), and the parties hereto to be entitled to the protections afforded by,
among other Sections, Sections 362(b)(6), 362(b)(17), 546(e), 546(g), 555 and 560 of the Bankruptcy Code, (ii) a party’s right to liquidate the Transaction and to exercise any other remedies upon the occurrence of any Event of Default
under the Agreement with respect to the other party to constitute a “contractual right” as described in the Bankruptcy Code, and (iii) each payment and delivery of cash, securities or other property hereunder to constitute a
“margin payment” or “settlement payment” and a “transfer” as defined in the Bankruptcy Code. 

  

	 	(u)	 Wall Street Transparency and Accountability Act. In connection with Section 739 of the Wall
Street Transparency and Accountability Act of 2010 (“WSTAA”), the parties hereby agree that neither the enactment of WSTAA or any regulation under the WSTAA, nor any requirement under WSTAA or an amendment made by WSTAA, shall limit
or otherwise impair either party’s 

  
 25 

	 	
otherwise applicable rights to terminate, renegotiate, modify, amend or supplement this Confirmation or the Agreement, as applicable, arising from a termination event, force majeure, illegality,
increased costs, regulatory change or similar event under this Confirmation, the Equity Definitions incorporated herein, or the Agreement (including, but not limited to, rights arising from Change in Law, Hedging Disruption, Increased Cost of
Hedging, an Excess Ownership Position, or Illegality (as defined in the Agreement)). 

  

	 	(v)	 Agreements and Acknowledgements Regarding Hedging. Company understands, acknowledges and agrees
that: (A) at any time on and prior to the last Expiration Date, Dealer and its affiliates may buy or sell Shares or other securities or buy or sell options or futures contracts or enter into swaps or other derivative securities in order to
adjust its hedge position with respect to the Transaction; (B) Dealer and its affiliates also may be active in the market for Shares other than in connection with hedging activities in relation to the Transaction; (C) Dealer shall make its
own determination as to whether, when or in what manner any hedging or market activities in securities of Issuer shall be conducted and shall do so in a manner that it deems appropriate to hedge its price and market risk with respect to the
Settlement Prices; and (D) any market activities of Dealer and its affiliates with respect to Shares may affect the market price and volatility of Shares, as well as the Settlement Prices, each in a manner that may be adverse to Company.

  

	 	(w)	 Early Unwind. In the event the sale of the [“Firm Securities”]10[“Additional Securities”]11 (as defined in the Purchase Agreement (the “Purchase Agreement”) dated as of May 25,
2021, between Company and Morgan Stanley & Co. LLC and Wells Fargo Securities, LLC, as representatives of the Initial Purchasers party thereto (the “Initial Purchasers”)) is not consummated with the Initial Purchasers for
any reason, or Company fails to deliver to Dealer opinions of counsel as required pursuant to Section 9(a), in each case by 5:00 p.m. (New York City time) on the Premium Payment Date, or such later date as agreed upon by the parties (the
Premium Payment Date or such later date the “Early Unwind Date”), the Transaction shall automatically terminate (the “Early Unwind”), on the Early Unwind Date or Premium Payment Date, as the case may
be, and (x) the Transaction and all of the respective rights and obligations of Dealer and Company under the Transaction shall be cancelled and terminated and (y) each party shall be released and discharged by the other party from and
agrees not to make any claim against the other party with respect to any obligations or liabilities of the other party arising out of and to be performed in connection with the Transaction either prior to or after the Early Unwind Date or Premium
Payment Date, as the case may be. Each of Dealer and Company represents and acknowledges to the other that, upon an Early Unwind, all obligations with respect to the Transaction shall be deemed fully and finally discharged. 

 

	 	(x)	 Payment by Dealer. In the event that (i) an Early Termination Date occurs or is designated
with respect to the Transaction as a result of a Termination Event or an Event of Default (other than an Event of Default arising under Section 5(a)(ii) or 5(a)(iv) of the Agreement) and, as a result, Dealer owes to Company an amount calculated
under Section 6(e) of the Agreement, or (ii) Dealer owes to Company, pursuant to Section 12.7 or Section 12.9 of the Equity Definitions, an amount calculated under Section 12.8 of the Equity Definitions, such amount shall be
deemed to be zero. 

  

	 	(y)	 Listing of Warrant Shares. Company shall have submitted an application for the listing of the
Warrant Shares on the Exchange, and such application and listing shall have been approved by the Exchange, subject only to official notice of issuance, in each case, on or prior to the Premium Payment Date. Company agrees and acknowledges that such
submission and approval shall be a condition precedent for the purpose of Section 2(a)(iii) of the Agreement with respect to each obligation of Dealer under Section 2(a)(i) of the Agreement. 

 

	 	(z)	 [FATCA and Dividend Equivalent Tax. “Indemnifiable Tax” as defined in Section 14
of the Agreement shall not include (i) any tax imposed or collected pursuant to Sections 1471 through 1474 of the Code, any current or future regulations or official interpretations thereof, any 

 

	10 	 Include in Base Warrant Confirmation. 

	11 	 Include in Additional Warrant Confirmation.

  
 26 

	 	
agreement entered into pursuant to Section 1471(b) of the Code, or any fiscal or regulatory legislation, rules or practices adopted pursuant to any intergovernmental agreement entered into
in connection with the implementation of such Sections of the Code (a “FATCA Withholding Tax”), (ii) any tax imposed on amounts treated as dividends from sources within the United States under Sections 871(m) (or the United States
Treasury Regulations or other guidance issued thereunder) or (iii) any tax imposed on amounts treated as distributions of property under Section 305 of the Code (or the United States Treasury Regulations or other guidance issued
thereunder). For the avoidance of doubt, a FATCA Withholding Tax is a Tax the deduction or withholding of which is required by applicable law for the purposes of Section 2(d) of the Agreement. 

 

	 	(aa)	 Payee Tax Representations. 

 

	 	(i)	 For the purpose of Section 3(f) of the Agreement, Company makes the following representation:

 Company is a corporation established under the laws of the State of Delaware and is a “United States person”
(as that term is defined in Section 7701(a)(30) of the Code) and is “exempt” within the meaning of Treasury Regulation sections 1.6041-3(p) and
1.6049-4(c) from information reporting on IRS Form 1099 and backup withholding. 
  

	 	(ii)	 For the purpose of Section 3(f) of the Agreement, Dealer makes the following representation:

 [Insert Dealer Tax Representation] 
  

	 	(bb)	 Tax Forms. For the purpose of Sections 4(a)(i) and (ii) of the Agreement, Company agrees to
deliver to Dealer a complete and duly executed United States Internal Revenue Service Form W-9 (or successor thereto) and Dealer agrees to deliver to Company a complete and duly executed United States Internal
Revenue Service Form [W-9][W-8ECI] (or successor thereto). Such forms or documents shall be delivered upon (i) execution and delivery of this Confirmation,
(ii) promptly upon reasonable request of the other party, and (iii) promptly upon learning that any such Form previously provided by the other party has become obsolete or incorrect. 

 

	 	(cc)	 Taxes on Non-U.S. Dealers. If Dealer (or, if Dealer
transfers or assigns all or any part of its rights or obligations under the Transaction, its transferee or assignee) does not, on or prior to the date hereof (or, on or before the date of such transfer or assignment), provide to the Company a United
States Internal Revenue Service Form W-9 or W-8ECI, the Company shall not be required to pay the transferee or assignee any amount under Section 2(d)(i)(4) of the
Agreement with respect to any U.S. federal withholding taxes. If Dealer (or, such transferee or assignee) does not provide a United States Internal Revenue Service Form W-9 or
W-8ECI pursuant to the prior sentence and, at any time, the Company is required to remit an amount of tax in respect of any such U.S. federal withholding tax with respect to a payment (or deemed payment or
deemed distribution) under the Transaction, then without duplication for any amount that Company has deducted on account of such tax from any amount paid to Dealer (or, such transferee or assignee) pursuant to the Transaction, the amount so required
to be remitted shall be payable by Dealer (or, such transferee or assignee) to Company within 10 business days of written demand by the Company.]12 

 

	 	(dd)	 [Insert Dealer Agency and other Boilerplate] 

 

	12 	 Subject to tax review. 

  
 27 

 Please confirm that the foregoing correctly sets forth the terms of the agreement between
Dealer and Company with respect to the Transaction, by manually signing this Confirmation or this page hereof as evidence of agreement to such terms and providing the other information requested herein and returning an executed copy to us. 

 

					
	Very truly yours,
			
		 	[ ● ]	 	
			
		 	By:	 	  

 
					
		 	Authorized Signatory	 	
		 	Name:	 	

 Accepted and confirmed as of the Trade Date: 

 

			
	John Bean Technologies Corporation

			
		
	By:	 	  

			
	 Authorized Signatory
 Name:Exhibit 10.18

 

 

 

CONFIDENTIAL

 

2 July 2019

 

Wisconsin Alumni Research Foundation

Attn: Andy DeTienne

614 Walnut Street

Madison, Wisconsin 53726

 

RE:      Letter Agreement Regarding WARF/CDI
License Agreement and CDI/Century Sublicense Agreement

 

Pursuant to its sublicensing rights under
that certain License Agreement by and between Wisconsin Alumni Research Foundation (“WARF”) and FUJIFILM Cellular
Dynamics, Inc. (formerly known as Cellular Dynamics International, Inc.) (“CDI”), WARF Agreement No. 11-00206,
dated effective as of June 6, 2012, as amended (the “License Agreement”), CDI sublicensed certain rights to
Century Therapeutics, LLC (“Century”) under the Licensed Patents as set forth in a sublicense agreement between
CDI and Century, as may be amended or restated in the future by CDI and Century (the “Sublicense Agreement”).
This letter agreement (this “Letter Agreement”) confirms the understanding between CDI, Century and WARF with
respect to the License Agreement and Sublicense Agreement, notwithstanding any terms to the contrary in the License Agreement or
Sublicense Agreement. Capitalized terms not otherwise defined herein shall have the meanings ascribed to such terms in the License
Agreement. CDI, Century and WARF are sometimes referred to herein individually as a “Party” and collectively
as the “Parties.”

 

1.            Century’s
Right to Sublicense. Century shall
have the right to grant non-exclusive further sublicenses (through multiple tiers)
(each a “Sub-Sublicense”) of the rights and licenses to the Licensed Patents
granted to Century under the Sublicense Agreement to third parties (without any
limitations on Geography or on therapeutic indication, except as otherwise provided in the Sublicense Agreement), with prior written
notice to WARF but otherwise in accordance with Section 2B(iii) (but excluding subclauses (a) and
(b)) of the License Agreement and not exceeding the
scope of rights (e.g., the Licensed Field and Licensed Territory) granted to CDI under
the License Agreement. The Sub-Sublicenses shall be consistent with the
terms of the License Agreement and this Letter Agreement to the extent applicable to
Sub-Sublicenses of the Licensed Patents under the License Agreement. Century shall remain
responsible for the activities of any of its sub-sublicensees as if the activities were
directly those of Century; any act or omission of Century’s sub-sublicensee shall
be considered a breach of Century, provided, however, that Century shall have ninety (90) days following receipt of notice of
such act or omission to cure such breach and, if Century cures such breach during the cure period, WARF and CDI agree
that the Sublicense Agreement and License Agreement shall remain in effect following such cure. A termination by Century of a
Sub-Sublicense shall be deemed a cure by Century of a breach by such 

    Page 1 of 8 

     

    

 

 

sub-sublicensee thereunder, provided that following such
termination, Century is not in breach of the Sublicense Agreement.

 

2.            Century’s
Right to Transfer or Assign. Century shall have the right to assign all of its rights and obligations under the Sublicense
Agreement, provided that Century is not in material breach of the Sublicense Agreement, to an Affiliate (so long as it remains
an “Affiliate” of Century) or to a third party successor with all or substantially all the business or assets to which
the Sublicense Agreement relates (whether by merger, consolidation, stock sale, asset sale or otherwise), provided: (i) Century
will notify WARF and CDI in writing within thirty (30) days following such assignment, including the identity of such assignee,
(ii) the assignee of Sublicense Agreement agrees in writing to be bound by all of its terms and conditions (as well as Century’s
obligations under this Letter Agreement) and to be responsible for all past and future obligations and liabilities thereunder,
and (iii) if the assignee is an Affiliate, Century shall remain jointly liable for the performance of such Affiliate under this
Agreement. Upon such transfer or assignment to an Affiliate, Century hereby guarantees the performance of its Affiliate (for such
time as it remains an “Affiliate” of Century) of all obligations under the Sublicense Agreement and this Letter Agreement.
Century’s right to assign its rights and obligations under the Sublicense Agreement shall otherwise be in accordance with
the terms and conditions of the License Agreement applicable to sublicenses, as amended by this Letter Agreement.

 

3.             Acknowledgment Side Letter. With respect to the Acknowledgement Side Letter in Appendix F of the License Agreement,
(a) neither Century nor sub-sublicensees of Century shall be required to name WARF as a third-party beneficiary to the applicable
Sub-Sublicense; (b) in accordance with Paragraph 1 of this Letter Agreement, the Sub-Sublicense shall be further sublicensable
provided that each tiered Sub-Sublicense will otherwise be subject to the terms and conditions of Section 2B(iii) (but excluding
subclauses (a) and (b)) of the License Agreement, as amended by this Letter Agreement (including without limitation, each tiered
sub-sublicensee will be required to sign the Acknowledgement Side Letter the terms of which in each instance shall be subject to
the terms of this Letter Agreement); (c) in accordance with Section 2B(iii)(b)-(c) of the License Agreement and the terms of this
Letter Agreement, the Sub-Sublicense may be assigned or transferred to a successor of any sub-sublicensee in connection with the
merger, consolidation, reorganization or sale of all or substantially all of its assets or that portion of this business to which
the Sub-Sublicense relates; and (d) Century shall not have the right to receive from its sublicensees anything of value in lieu
of cash payments in consideration for the applicable Sub-Sublicense, without the express prior written consent of WARF and CDI
(which consent shall not be unreasonably withheld so long as Century provides a written notice to WARF and CDI (with notice by
email being acceptable) that provides the identity of the proposed sub-sublicensee, a summary of the terms of the proposed Sub-Sublicense,
and the non-cash consideration together with a reasonable estimate of its fair market value), provided that if
either WARF or CDI fails to provide Century with written consent within fifteen (15) calendar days of the date of the notice
from Century, WARF and CDI shall be deemed to have given express prior written consent for the purposes of this clause (d).

 

4.            Survival
of Sublicense Agreement and Sub-Sublicenses. Upon termination of the License Agreement by WARF for any reason (other than a reason
caused by an act or omission of Century), the Sublicense Agreement shall have the following survival rights: (i) the Sublicense

    Page 2 of 8 

     

    

 

 

Agreement will survive as a
direct license from WARF for a period of one hundred twenty (120) days after termination of the License Agreement (provided that no obligations
will be imposed on WARF greater than those of the License Agreement) and WARF does hereby grant to Century a direct license on the terms
and conditions set forth in the License Agreement, as amended by this Letter Agreement, for such one hundred twenty (120) day period
(the “Extension Period”); and (ii) during the Extension Period, WARF and Century will cooperate in good faith to draft
and enter into an amended and restated direct license agreement between them having terms substantially similar to those of the Sublicense
Agreement (e.g., scope of licensed rights under the Licensed Patents) but revised to fairly include customary terms reflecting that the
agreement is between WARF (a non-profit university patent management organization) and Century, rather than between Century and CDI (a
for-profit company) (but, for the avoidance of doubt, not equity rights in Century or any Affiliate thereof). If WARF and Century have
not executed such a direct license agreement between them during the initial Extension Period, the Extension Period shall extend, at
Century’s sole discretion upon notice to WARF, for an additional one hundred twenty (120) days and thereafter, the Parties may
mutually agree in good faith to extend the Extension Period for additional one hundred twenty (120) days periods, provided that the Parties
are continuing to negotiate in good faith an amended and restated direct license agreement. Any Sub-Sublicenses will survive termination
of the License Agreement to the same extent as the rights of Century survive in accordance with and subject to the foregoing.

 

5.            WARF’S Right to Developments. Notwithstanding anything in Section 2.E(ii) of the License Agreement,
WARF hereby agrees that Section 2.E(ii) of the License Agreement shall not apply to Century and the sub-sublicensees of Century
with respect to any Developments developed or created by Century or Century’s sub-sublicensees.

 

6.            Selling
Price. In lieu of paying “earned royalties” calculated as a percentage of the “Selling Price” of Licensed
Products under the Sublicense Agreement, Century and its Affiliates and sub-sublicensees of Century will pay to CDI “earned
royalties” calculated as a percentage of Net Sales of Licensed Products sold by Century, and its Affiliates and sub-sublicensees.
 “Net Sales” shall mean the gross amount invoiced by Century and any of its Affiliates and such sub-sublicensees
for sales of Licensed Product(s), less the following, but only insofar as these items are commercially reasonable under the circumstances,
documented in writing, pertain specifically to Century’s sale of the Licensed Products, were actually included and accounted
for in the gross revenue, and were not given in exchange for anything of value (such as data, in-kind consideration, or commitments
to purchase other products or services) :

 

		a.	sales taxes, excise taxes, use taxes, VAT and duties paid in relation to Licensed Product(s) and
any other equivalent governmental charges imposed upon the importation, use or sale of Licensed Product(s) (including the annual
fees due under Section 9008 of the United States Patient Protection and Affordable Care Act of 2010 (Pub. L., No. 111-48)) (excluding
taxes when assessed on income derived from sales):

    Page 3 of 8 

     

    

 

 

		b.	reasonable credits, repayments and allowances (actually allowed or paid) for defective or returned
Licensed Product(s), including allowances for damaged, rejected, recalled or returned Licensed Product(s);

 

		c.	governmental and other rebates, refunds, and chargebacks (or equivalents thereof) granted to managed
health care organizations, pharmacy benefit managers (or equivalents thereof), federal, state, provincial, local and other governments,
their agencies and purchasers and reimbursers or to trade customers, in each case with respect to such Licensed Product(s);

 

		d.	trade, cash, prompt payment or quantity discounts, actually allowed and taken directly by a third
party, and mandated discounts;

 

		e.	freight or other transportation charges, reasonable shipping insurance charges, and customs duties;
and

 

		f.	allowances for bad debt and uncollectible accounts (provided that Century has undertaken commercially
reasonable efforts to obtain each such debt and amount).

 

For the avoidance of doubt, sales,
transfers or disposition of Licensed Product(s) between any of Century, an Affiliate or a sub-sublicensee for subsequent resale
by the transferee shall not be considered Net Sales hereunder provided that the subsequent resale is accounted for as Net Sales.
Notwithstanding anything to the contrary herein, the supply or other transfer or disposition of Licensed Product(s) without charge,
or at or below cost (i) for use in studies for regulatory approval of the Licensed Products; (ii) for use in any tests or studies
for the Licensed Products that are reasonably necessary to comply with any applicable law, regulation or request by a regulatory
or governmental authority; or (iii) for use in compassionate use, named patient, indigent access, patient assistance, or similar
reduced pricing programs, shall be excluded from the computation of Net Sales. Further for the avoidance of doubt, each reference
in the Sublicense Agreement to “Selling Price” instead shall be deemed to refer to “Net Sales” as defined
herein.

 

7.            Royalty.
With respect to Licensed Products sold by Century and its Affiliates and sub-sublicensees of Century, the royalty obligations
set forth in Section 4.B(i) and 4C(i) of the License Agreement (as amended by this Letter Agreement and as applicable under the
Sublicense Agreement) shall continue on a country-by-country basis as to each Licensed Product sold in such country until the
date as of which the last to expire Licensed Patent that covers such Licensed Product in such country and in the country in which
the Product was manufactured (if different than the country in which the Product was sold) has expired or terminated. Except as
amended by this Letter Agreement, the terms and conditions set forth in the License Agreement and the Sublicense Agreement for
royalty obligations applicable to sublicensees shall otherwise apply to Century, its Affiliates, and sub-sublicensees.

 

8.             Additional
Royalty Terms. The terms of CDI’s royalty payments set forth in Sections 4.B(ii) and 4.B(iii) of the License Agreement shall
apply under the Sublicense Agreement

    Page 4 of 8 

     

    

 

 

mutatis mutandis to Century and sub-sublicensees of Century (and
the Sublicense Agreement is hereby amended accordingly). However, for clarity, (a) any royalty owed to WARF by CDI under
Section 4C(i) due to sales by Century shall not be reduced under Section 4B(ii) on account of a separate license from CDI to
Century as contemplated in clause (b) of this provision or on account of a separate license from Century or CDI to such
sub-sublicensee as contemplated in clause (c) of this provision, and (b) Century may not reduce any royalty owed to CDI
under the Sublicense Agreement on account of a separate license from CDI to Century and (c) a sub-sub licensee may not reduce
any royalty owed to Century under any Sub-Sublicense on account of a separate license from Century or CDI to such
sub-sublicensee.

 

9.             Indemnification. Century’s obligations to WARF, the Morgridge Institute for Research, the WiCell Research
Institute and the University of Wisconsin under Section 8.1 of the Sublicense Agreement shall only apply with respect to liabilities,
demands, damages, settlements, suits, claims, proceedings, costs and expenses (including reasonable out-of-pocket legal expenses
and reasonable attorneys’ fees), in each case, arising out of or relating to claims brought by third parties.

 

10.           Assignment. Neither this Letter Agreement nor any interest herein may be assigned, in whole or in part, by
a Party without the prior written consent of the other Parties. Notwithstanding the foregoing, a party may assign its rights and
obligations under this Letter Agreement to any of its Affiliates or to any successor in connection with the merger, consolidation,
reorganization or sale of substantially all of its assets or that portion of its business to which this Letter Agreement relates,
provided that (i) the assigning party will notify the other parties in writing within thirty (30) days following such assignment,
including the identity of such assignee, (ii) the assignee of agrees in writing to be bound by the terms and conditions hereof
and to be responsible for all past and future obligations and liabilities hereunder, and (iii) if the assignee is an Affiliate,
the assigning party shall remain jointly liable for the performance of such Affiliate under this Letter Agreement. Upon such assignment
to an Affiliate, the assigning party hereby guarantees the performance of its Affiliate (for such time as it remains an “Affiliate”
of the assigning party) of all obligations to the other Party under the Sublicense Agreement and this Letter Agreement. Any assignment
in circumvention of the foregoing shall be void. Subject to the foregoing, this Letter Agreement shall be binding upon and inure
to the benefit of the Parties and their respective permitted successors and assigns.

 

11.           Notices.
Any notice or request required or permitted to be given under or in connection with this Letter Agreement shall specifically refer
to this Letter Agreement, and shall be deemed to have been sufficiently given if in writing and personally delivered or sent by
certified mail (return receipt requested), facsimile transmission (receipt verified), or overnight express courier service (signature
required), prepaid, to the Party for which such notice is intended, at the address set forth for such Party below:

    Page 5 of 8 

     

    

 

 

	If to CDI:	FUJIFILM Cellular Dynamics, Inc.

525 Science Dr., Ste. 200

Madison, Wisconsin 53711

Attention: Chief Technology Officer
	 	 
	With a copy to:	FUJIFILM Cellular Dynamics, Inc.

525 Science Dr., Ste. 200

Madison, Wisconsin 53711

Attention: General Counsel
	 	 
	If to Century:	Century Therapeutics, LLC

54 West 21st St., Ste. 408

New York, NY 10010

Attention: Chief Executive Officer
	 	 
	If to WARF:	Wisconsin Alumni Research Foundation

614 Walnut Street

Madison, Wisconsin 53726

Attention: Contracts Manager

 

or to such other address for such Party
as it shall have specified by like notice to the other Party, provided that notices of a change of address shall be effective only
upon actual receipt thereof. All notices under this Letter Agreement shall be deemed effective upon receipt.

 

12.          No
Waiver of Rights. No failure or delay on the part of a Party in the exercise of any power or right under this Letter Agreement
shall operate as a waiver thereof. No single or partial exercise of any right or power under this Letter Agreement shall operate
as a waiver of such right or of any other right or power. The waiver by a Party of a breach of any provision of this Letter Agreement
shall not operate or be construed as a waiver of any other or subsequent breach under this Letter Agreement.

 

13.         Severability.
In case any one or more of the provisions contained in this Letter Agreement shall, for any reason be held to be invalid, illegal,
or unenforceable in any respect, such invalidity, illegality, or unenforceability, shall not affect any other provision of this
Letter Agreement, and the Parties shall negotiate in good faith to modify this Letter Agreement to preserve (to the extent possible)
their original intent.

 

14.         Amendments.
No amendment or modification of or supplement to the terms of this Letter Agreement shall be binding on a Party unless reduced
to writing and signed by both Parties.

 

15.          Entire
Agreement. This Letter Agreement sets forth the entire agreement among the Parties as to the subject matter hereof and
supersedes all prior and contemporaneous agreements, understandings, negotiations and discussions, whether oral or written,
between the Parties as to the subject matter hereof. In the event of any conflict between this Letter Agreement and the
License 

    Page 6 of 8 

     

    

 

 

Agreement or the Sublicense Agreement, this Letter Agreement will control. This Letter Agreement and any dispute
regarding the performance or breach hereof will be governed, interpreted and construed in accordance with the laws of the
State of Wisconsin, and the patent law of the United States, without respect to its conflict of laws rules.

 

16.          Survival.
The rights and obligations of the Parties under this Letter Agreement shall continue until the expiration or the earlier termination
of the Sublicense Agreement or Sub-Sublicense, as applicable.

 

17.           Counterparts. This Letter Agreement, or any part thereof requiring signing by the Parties, may be executed
in separate counterparts, each of which shall be an original as against any Party whose signature appears thereon but all of which
together shall constitute one and the same instrument. A facsimile or PDF transmission of the signed Letter Agreement, and those
parts thereof requiring signing by the Parties, shall be legal and binding on the Parties. The Parties agree this Agreement may
be electronically signed and that the electronic signatures appearing on this Agreement are the same as handwritten signatures
for the purposes of validity, enforceability and admissibility.

 

[END OF PAGE. SIGNATURE PAGE FOLLOWS]

    Page 7 of 8 

     

    

 

 

This Letter Agreement
is signed below by authorized representatives of CDI, Century and WARF respectively indicating the Parties’ acceptance of
the terms and conditions of this Letter Agreement.

 

FUJIFILM CELLULAR DYNAMICS, INC.

 

	By:	/s/ Nicholas Manusos	 
	 	(Signature)	 
	 	 	 
	Name:	Nick Manusos	 
	 	 	 
	Title:	COO	 

 

CENTURY THERAPEUTICS, LLC

 

	By:	/s/ Osvaldo Flores	 
	 	(Signature)	 
	 	 	 
	Name:	Osvaldo Flores	 
	 	 	 
	Title:	Chief Executive Officer	 

 

WISCONSIN ALUMNI RESEARCH FOUNDATION

 

	By:	/s/ Leigh Cagan	 
	 	(Signature)	 
	 	 	 
	Name:	Leigh Cagan	 
	 	 	 
	Title:	Chief Technology Commercialization Officer	 

    Page 8 of 8

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