Document:

Exchange and Registration Rights Agreement

  
 Exhibit 4.2

 Global Crossing Limited 
 9% Senior Notes Due 2019 
  

 

Exchange and Registration Rights Agreement 

November 16, 2010 
 Credit Suisse Securities (USA) LLC 
 Goldman, Sachs & Co. 

As representatives of the several Purchasers 
 named in Schedule I to the Purchase Agreement 
 c/o Credit Suisse Securities (USA) LLC 

Eleven Madison Avenue 
 New York, New York 10010

 Ladies and Gentlemen: 
 Global Crossing Limited, an exempted company with limited liability formed under the laws of Bermuda (the “Company”), proposes to issue and sell to the Purchasers (as defined herein) upon the
terms set forth in the Purchase Agreement (as defined herein) $150.0 million in aggregate principal amount of its 9% Senior Notes due 2019, which are unconditionally guaranteed by the Guarantors (as defined herein). As an inducement to the
Purchasers to enter into the Purchase Agreement and in satisfaction of a condition to the obligations of the Purchasers thereunder, the Company and the Guarantors agree with the Purchasers for the benefit of holders (as defined herein) from time to
time of the Registrable Securities (as defined herein) as follows: 
 1. Certain Definitions. For purposes of this
Exchange and Registration Rights Agreement (this “Agreement”), the following terms shall have the following respective meanings: 
 “Base Interest” shall mean the interest that would otherwise accrue on the Securities under the terms thereof and the Indenture, without giving effect to the provisions of this Agreement.

 The term “broker-dealer” shall mean any broker or dealer registered with the Commission under
the Exchange Act. 
 “Business Day” shall have the meaning set forth in Rule 13e-4(a)(3)
promulgated by the Commission under the Exchange Act, as the same may be amended or succeeded from time to time. 

“Closing Date” shall mean the date on which the Securities are initially issued. 

“Commission” shall mean the United States Securities and Exchange Commission, or any other federal agency
at the time administering the Exchange Act or the Securities Act, whichever is the relevant statute for the particular purpose. 

  
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“EDGAR System” means the EDGAR filing system of the Commission and the rules and regulations pertaining
thereto promulgated by the Commission in Regulation S-T under the Securities Act and the Exchange Act, in each case as the same may be amended or succeeded from time to time (and without regard to format). 

“Effective Time,” in the case of (i) an Exchange Registration, shall mean the time and date as of
which the Commission declares the Exchange Registration Statement effective or as of which the Exchange Registration Statement otherwise becomes effective and (ii) a Shelf Registration, shall mean the time and date as of which the Commission
declares the Shelf Registration Statement effective or as of which the Shelf Registration Statement otherwise becomes effective. 
 “Electing Holder” shall mean any holder of Registrable Securities that has returned a completed and signed Notice and Questionnaire to the Company in accordance with Section 3(d)(ii)
or Section 3(d)(iii) and the instructions set forth in the Notice and Questionnaire. 
 “Exchange
Act” shall mean the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated by the Commission thereunder, as the same may be amended or succeeded from time to time. 

“Exchange Offer” shall have the meaning assigned thereto in Section 2(a). 

“Exchange Registration” shall have the meaning assigned thereto in Section 3(c). 

“Exchange Registration Statement” shall have the meaning assigned thereto in Section 2(a).

 “Exchange Securities” shall have the meaning assigned thereto in Section 2(a).

 “Guarantor” shall have the meaning assigned thereto in the Indenture. 

The term “holder” shall mean each of the Purchasers and other persons who acquire Securities from time to
time (including any successors or assigns), in each case for so long as such person owns any Securities. 

“Indenture” shall mean the trust indenture, dated as of November 16, 2010, between the
Company, the Guarantors and Wilmington Trust FSB, as trustee, as the same may be amended from time to time. 

“Notice and Questionnaire” means a Notice of Registration Statement and Selling Securityholder
Questionnaire substantially in the form of Exhibit A hereto. 
 The term “person” shall mean a
corporation, limited liability company, association, partnership, organization, business, individual, government or political subdivision thereof or governmental agency. 

“Purchase Agreement” shall mean the Purchase Agreement, dated as of November 10, 2010, between the
Purchasers, the Company and the Guarantors relating to the Securities. 

  
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“Purchasers” shall mean the Purchasers named in Schedule I to the Purchase Agreement. 

“Registrable Securities” shall mean the Securities; provided, however, that a Security shall cease
to be a Registrable Security upon the earliest to occur of the following: (i) in the circumstances contemplated by Section 2(a), the Security has been exchanged for an Exchange Security in an Exchange Offer as contemplated in
Section 2(a) (provided that any Exchange Security that, pursuant to the last two sentences of Section 2(a), is included in a prospectus for use in connection with resales by broker-dealers shall be deemed to be a Registrable
Security with respect to Sections 5, 6 and 9 until resale of such Registrable Security has been effected within the Resale Period); (ii) in the circumstances contemplated by Section 2(b), a Shelf Registration Statement registering such
Security under the Securities Act has been declared or becomes effective and such Security has been sold or otherwise transferred by the holder thereof pursuant to and in a manner contemplated by such effective Shelf Registration Statement; or
(iii) such Security shall cease to be outstanding. 
 “Registration Default” shall have the
meaning assigned thereto in Section 2(c). 
 “Registration Default Period” shall have the
meaning assigned thereto in Section 2(c). 
 “Registration Expenses” shall have the meaning
assigned thereto in Section 4. 
 “Resale Period” shall have the meaning assigned thereto
in Section 2(a). 
 “Restricted Holder” shall mean (i) a holder that is an affiliate
of the Company within the meaning of Rule 405, (ii) a holder who acquires Exchange Securities outside the ordinary course of such holder’s business, (iii) a holder who has arrangements or understandings with any person to
participate in the Exchange Offer for the purpose of distributing Exchange Securities and (iv) a holder that is a broker-dealer, but only with respect to Exchange Securities received by such broker-dealer pursuant to an Exchange Offer in
exchange for Registrable Securities acquired by the broker-dealer directly from the Company. 

“Rule 144,” “Rule 405”, “Rule 415”, “Rule 424”,
“Rule 430B” and “Rule 433” shall mean, in each case, such rule promulgated by the Commission under the Securities Act (or any successor provision), as the same may be amended or succeeded from time to time.

 “Securities” shall mean, collectively, the $150.0 million in aggregate principal amount of
the Company’s 9% Senior Notes due 2019 to be issued and sold to the Purchasers, and securities issued in exchange therefor or in lieu thereof pursuant to the Indenture. Each Security is entitled to the benefit of the guarantee provided by the
Guarantors in the Indenture (the “Guarantee”) and, unless the context otherwise requires, any reference herein to a “Security,” an “Exchange Security” or a “Registrable Security” shall include a
reference to the related Guarantee. 
 “Securities Act” shall mean the Securities Act of 1933,
as amended, and the rules and regulations promulgated by the Commission thereunder, as the same may be amended or succeeded from time to time. 
 “Shelf Registration” shall have the meaning assigned thereto in Section 2(b). 
 “Shelf Registration Statement” shall have the meaning assigned thereto in Section 2(b). 

  
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“Special Interest” shall have the meaning assigned thereto in Section 2(c). 

“Suspension Period” shall have the meaning assigned thereto in Section 2(b). 

“Trust Indenture Act” shall mean the Trust Indenture Act of 1939, as amended, and the rules and
regulations promulgated by the Commission thereunder, as the same may be amended or succeeded from time to time. 

“Trustee” shall mean Wilmington Trust FSB, as trustee under the Indenture, together with any successors
thereto in such capacity. 
 Unless the context otherwise requires, any reference herein to a “Section” or
“clause” refers to a Section or clause, as the case may be, of this Agreement, and the words “herein,” “hereof” and “hereunder” and other words of similar import refer to this Agreement as a whole and not to
any particular Section or other subdivision. 
 2. Registration Under the Securities Act. 

(a) Except as set forth in Section 2(b) below, the Company and the Guarantors agree to file under the Securities Act,
a registration statement relating to an offer to exchange (such registration statement, the “Exchange Registration Statement”, and such offer, the “Exchange Offer”) any and all of the Securities for a like aggregate
principal amount of debt securities issued by the Company and guaranteed by the Guarantors, which debt securities and guarantees are substantially identical to the Securities and the related Guarantees, respectively (and are entitled to the benefits
of the Indenture), except that they have been registered pursuant to an effective registration statement under the Securities Act and do not contain provisions for Special Interest contemplated in Section 2(c) below (such new debt securities
hereinafter called “Exchange Securities”). The Company and the Guarantors agree to use all commercially reasonable efforts to cause the Exchange Registration Statement to become effective under the Securities Act no later than 365
days after the Closing Date. The Exchange Offer will be registered under the Securities Act on the appropriate form and will comply with all applicable tender offer rules and regulations under the Exchange Act. Unless the Exchange Offer would not be
permitted by applicable law or Commission policy, the Company further agrees to use all commercially reasonable efforts to (i) commence the Exchange Offer promptly (but no later than 10 Business Days) following the Effective Time of such
Exchange Registration Statement, (ii) hold the Exchange Offer open for at least 20 Business Days in accordance with Regulation 14E promulgated by the Commission under the Exchange Act and (iii) exchange Exchange Securities for all
Registrable Securities that have been properly tendered and not withdrawn promptly following the expiration of the Exchange Offer. The Exchange Offer will be deemed to have been “completed” only (i) if the debt securities and related
guarantees received by holders other than Restricted Holders in the Exchange Offer for Registrable Securities are, upon receipt, transferable by each such holder without restriction under the Securities Act and the Exchange Act and without material
restrictions under the blue sky or securities laws of a substantial majority of the States of the United States of America and (ii) upon the Company having exchanged, pursuant to the Exchange Offer, Exchange Securities for all Registrable
Securities that have been properly tendered and not withdrawn before the expiration of the Exchange Offer, which shall be on a date that is at least 20 and not more than 30 Business Days following the commencement of the Exchange Offer. The Company
and the Guarantors agree (x) to include in the Exchange Registration Statement a prospectus for use in any resales by any holder of Exchange Securities that is a broker-dealer and (y) to

  
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keep such Exchange Registration Statement effective for a period (the “Resale Period”) beginning when Exchange Securities are first issued in the Exchange Offer and ending upon
the earlier of the expiration of the 180th day after the
Exchange Offer has been completed or such time as such broker-dealers no longer own any Registrable Securities. With respect to such Exchange Registration Statement, such holders shall have the benefit of the rights of indemnification and
contribution set forth in Subsections 6(a), (c), (d) and (e). 
 (b) If (i) on
or prior to the time the Exchange Offer is completed existing law or Commission interpretations are changed such that the debt securities or the related guarantees received by holders other than Restricted Holders in the Exchange Offer for
Registrable Securities are not or would not be, upon receipt, transferable by each such holder without restriction under the Securities Act, (ii) the Effective Time of the Exchange Registration Statement is not within 455 days following the
Closing Date and the Exchange Offer has not been completed within 30 Business Days of such Effective Time or (iii) any holder of Registrable Securities notifies the Company prior to the
20th Business Day following the completion of the Exchange
Offer that: (A) it is prohibited by law or Commission policy from participating in the Exchange Offer, (B) it may not resell the Exchange Securities to the public without delivering a prospectus and the prospectus supplement contained in
the Exchange Registration Statement is not appropriate or available for such resales or (C) it is a broker-dealer and owns Securities acquired directly from the Company or an affiliate of the Company, then the Company and the Guarantors shall,
in lieu of (or, in the case of clause (iii), in addition to) conducting the Exchange Offer contemplated by Section 2(a), file under the Securities Act no later than 30 days after the time such obligation to file arises (but no earlier than 90
days after the Closing Date), a “shelf” registration statement providing for the registration of, and the sale on a continuous or delayed basis by the holders of, all of the Registrable Securities, pursuant to Rule 415 or any similar
rule that may be adopted by the Commission (such filing, the “Shelf Registration” and such registration statement, the “Shelf Registration Statement”). The Company and the Guarantors agree to use all commercially
reasonable efforts to cause the Shelf Registration Statement to become or be declared effective no later than 90 days after such Shelf Registration Statement filing obligation arises (but no earlier than 180 days after the Closing Date);
provided, that if at any time the Company is or becomes a “well-known seasoned issuer” (as defined in Rule 405) and is eligible to file an “automatic shelf registration statement” (as defined in Rule 405), then
the Company and the Guarantors shall file the Shelf Registration Statement in the form of an automatic shelf registration statement as provided in Rule 405. The Company and the Guarantors agree to use all commercially reasonable efforts to keep
such Shelf Registration Statement continuously effective for a period ending on the earlier of the second anniversary of the Effective Time or such time as there are no longer any Registrable Securities outstanding. No holder shall be entitled to be
named as a selling securityholder in the Shelf Registration Statement or to use the prospectus forming a part thereof for resales of Registrable Securities unless such holder is an Electing Holder. The Company and the Guarantors agree, after the
Effective Time of the Shelf Registration Statement and promptly upon the request of any holder of Registrable Securities that is not then an Electing Holder, to use all commercially reasonable efforts to enable such holder to use the prospectus
forming a part thereof for resales of Registrable Securities, including, without limitation, any action necessary to identify such holder as a selling securityholder in the Shelf Registration Statement (whether by post-effective amendment thereto or
by filing a prospectus pursuant to Rules 430B and 424(b) under the Securities Act identifying such holder), provided, however, that nothing in this sentence shall relieve any such holder of the obligation to return a completed and signed
Notice and Questionnaire to the Company in accordance with 

  
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Section 3(d)(iii). Notwithstanding anything to the contrary in this Section 2(b), upon notice to the Electing Holders, the Company may suspend the use or the effectiveness of such Shelf
Registration Statement, or extend the time period in which it is required to file the Shelf Registration Statement, for up to 30 consecutive days and up to 60 days in the aggregate, in each case in any 12-month period (a “Suspension
Period”) if the Board of Directors of the Company determines that there is a valid business purpose for suspension of the Shelf Registration Statement; provided that the Company shall promptly notify the Electing Holders when the
Shelf Registration Statement may once again be used or is effective. 
 (c) In the event that (i) the
Company and the Guarantors have not filed the Exchange Registration Statement or the Shelf Registration Statement on or before the date on which such registration statement is required to be filed pursuant to Section 2(a) or Section 2(b),
respectively, or (ii) such Exchange Registration Statement or Shelf Registration Statement has not become effective or been declared effective by the Commission on or before the date on which such registration statement is required to become or
be declared effective pursuant to Section 2(a) or Section 2(b), respectively, or (iii) the Exchange Offer has not been completed within 30 Business Days after the Effective Time of the Exchange Registration Statement relating to the
Exchange Offer (if the Exchange Offer is then required to be made) or (iv) any Exchange Registration Statement or Shelf Registration Statement required by Section 2(a) or Section 2(b) is filed and declared effective but shall
thereafter either be withdrawn by the Company or shall become subject to an effective stop order issued pursuant to Section 8(d) of the Securities Act suspending the effectiveness of such registration statement (except as specifically permitted
herein, including, with respect to any Shelf Registration Statement, during any applicable Suspension Period in accordance with the last sentence of Section 2(b)) without being succeeded immediately by an additional registration statement filed
and declared effective (each such event referred to in clauses (i) through (iv), a “Registration Default” and each period during which a Registration Default has occurred and is continuing, a “Registration Default
Period”), then, as liquidated damages for such Registration Default, subject to the provisions of Section 9(b), special interest (“Special Interest”), in addition to the Base Interest, shall accrue on all Registrable
Securities then outstanding at a per annum rate of 0.25% for the first 90 days of the Registration Default Period, at a per annum rate of 0.50% for the second 90 days of the Registration Default Period, at a per annum rate of 0.75% for the third 90
days of the Registration Default Period and at a per annum rate of 1.0% thereafter for the remaining portion of the Registration Default Period. Special Interest shall accrue and be payable only with respect to a single Registration Default at any
given time, notwithstanding the fact that multiple Registration Defaults may exist at such time. 
 (d) The
Company shall take, and shall cause the Guarantors to take, all actions necessary or advisable to be taken by it to ensure that the transactions contemplated herein are effected as so contemplated, including all actions necessary or desirable
to register the Guarantees under any Exchange Registration Statement or Shelf Registration Statement, as applicable. 
 (e) Any reference herein to a registration statement or prospectus as of any time shall be deemed to include any document incorporated, or deemed to be incorporated, therein by reference as of such time;
and any reference herein to any post-effective amendment to a registration statement or to any prospectus supplement as of any time shall be deemed to include any document incorporated, or deemed to be incorporated, therein by reference as of such
time. 

  
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 3. Registration
Procedures. 
 If the Company and the Guarantors file a registration statement pursuant to Section 2(a) or
Section 2(b), the following provisions shall apply: 
 (a) At or before the Effective Time of the Exchange
Registration or any Shelf Registration, whichever may occur first, the Company shall qualify the Indenture under the Trust Indenture Act. 
 (b) In the event that such qualification would require the appointment of a new trustee under the Indenture, the Company shall appoint a new trustee thereunder pursuant to the applicable provisions of the
Indenture. 
 (c) In connection with the Company’s and the Guarantors’ obligations with respect to the
registration of Exchange Securities as contemplated by Section 2(a) (the “Exchange Registration”), if applicable, the Company and the Guarantors shall: 

(i) prepare and file with the Commission, an Exchange Registration Statement on any form which may be utilized by the
Company and the Guarantors and which shall permit the Exchange Offer and resales of Exchange Securities by broker-dealers during the Resale Period to be effected as contemplated by Section 2(a), and use all commercially reasonable efforts to
cause such Exchange Registration Statement to become effective no later than 365 days after the Closing Date; 

(ii) as soon as practicable prepare and file with the Commission such amendments and supplements to such Exchange
Registration Statement and the prospectus included therein as may be necessary to effect and maintain the effectiveness of such Exchange Registration Statement for the periods and purposes contemplated in Section 2(a) and as may be required by
the applicable rules and regulations of the Commission and the instructions applicable to the form of such Exchange Registration Statement, and promptly provide each broker-dealer holding Exchange Securities with such number of copies of the
prospectus included therein (as then amended or supplemented), in conformity in all material respects with the requirements of the Securities Act and the Trust Indenture Act, as such broker-dealer reasonably may request prior to the expiration of
the Resale Period, for use in connection with resales of Exchange Securities; 
 (iii) promptly notify each
broker-dealer that has requested or received copies of the prospectus included in such Exchange Registration Statement, and confirm such advice in writing, (A) when such Exchange Registration Statement or the prospectus included therein or any
prospectus amendment or supplement or post-effective amendment has been filed, and, with respect to such Exchange Registration Statement or any post-effective amendment, when the same has become effective, (B) of any comments by the Commission
and by the blue sky or securities commissioner or regulator of any state with respect thereto or any request by the Commission for amendments or supplements to such Exchange Registration Statement or prospectus or for additional information,
(C) of the issuance by the Commission of any stop order suspending the effectiveness of such Exchange Registration Statement or the initiation or threatening of any proceedings for that purpose, (D) if at any time the representations and
warranties of the Company or the Guarantors contemplated by Section 5 cease to be true and correct in all material 

  
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respects, (E) of the receipt by the Company of any notification with respect to the suspension of the qualification of the Exchange Securities for sale in any jurisdiction or the initiation
or threatening of any proceeding for such purpose, (F) the occurrence of any event that causes the Company to become an “ineligible issuer” as defined in Rule 405, or (G) if at any time during the Resale Period when a
prospectus is required to be delivered under the Securities Act, that such Exchange Registration Statement, prospectus, prospectus amendment or supplement or post-effective amendment does not conform in all material respects to the applicable
requirements of the Securities Act and the Trust Indenture Act or contains an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading in light
of the circumstances then existing; 
 (iv) in the event that the Company and the Guarantors would be required,
pursuant to Section 3(c)(iii)(G), to notify any broker-dealers holding Exchange Securities (except as otherwise permitted during any Suspension Period), promptly prepare and furnish to each such holder a reasonable number of copies of a
prospectus supplemented or amended so that, as thereafter delivered to purchasers of such Exchange Securities during the Resale Period, such prospectus shall conform in all material respects to the applicable requirements of the Securities Act and
the Trust Indenture Act and shall not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances then
existing; 
 (v) use all commercially reasonable efforts to obtain the withdrawal of any order suspending the
effectiveness of such Exchange Registration Statement or any post-effective amendment thereto at the earliest practicable date; 
 (vi) use all commercially reasonable efforts to (A) register or qualify the Exchange Securities under the securities laws or blue sky laws of such jurisdictions as are contemplated by
Section 2(a) no later than the commencement of the Exchange Offer, to the extent required by such laws, (B) keep such registrations or qualifications in effect and comply with such laws so as to permit the continuance of offers, sales and
dealings therein in such jurisdictions until the expiration of the Resale Period, (C) take any and all other actions as may be reasonably necessary or advisable to enable each broker-dealer holding Exchange Securities to consummate the
disposition thereof in such jurisdictions and (D) obtain the consent or approval of each governmental agency or authority, whether federal, state or local, which may be required to effect the Exchange Registration, the Exchange Offer and the
offering and sale of Exchange Securities by broker-dealers during the Resale Period; provided, however, that neither the Company nor the Guarantors shall be required for any such purpose to (1) qualify as a foreign corporation in any
jurisdiction wherein it would not otherwise be required to qualify but for the requirements of this Section 3(c)(vi), (2) consent to general service of process in any such jurisdiction or become subject to taxation in any such jurisdiction
or (3) make any changes to its certificate of incorporation or by-laws or other governing documents or any agreement between it and its stockholders; 
 (vii) obtain a CUSIP number for all Exchange Securities, not later than the applicable Effective Time; and 

  
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 (viii)
comply with all applicable rules and regulations of the Commission, and make generally available to its securityholders no later than eighteen months after the Effective Time of such Exchange Registration Statement, an “earning statement”
of the Company and its subsidiaries complying with Section 11(a) of the Securities Act (including, at the option of the Company, Rule 158 thereunder). 
 (d) In connection with the Company’s and the Guarantors’ obligations with respect to the Shelf Registration, if applicable, the Company and the Guarantors shall: 

(i) prepare and file with the Commission, within the time periods specified in Section 2(b), a Shelf Registration
Statement on any form which may be utilized by the Company and which shall register all of the Registrable Securities for resale by the holders thereof in accordance with such method or methods of disposition as may be specified by the holders of
Registrable Securities as, from time to time, may be Electing Holders and use all commercially reasonable efforts to cause such Shelf Registration Statement to become effective within the time periods specified in Section 2(b); 

(ii) mail the Notice and Questionnaire to the holders of Registrable Securities (A) not less than 30 days prior to
the anticipated Effective Time of the Shelf Registration Statement or (B) in the case of an “automatic shelf registration statement” (as defined in Rule 405), mail the Notice and Questionnaire to the holders of Registrable
Securities not later than the Effective Time of such Shelf Registration Statement, and in any such case no holder shall be entitled to be named as a selling securityholder in the Shelf Registration Statement, and no holder shall be entitled to use
the prospectus forming a part thereof for resales of Registrable Securities at any time, unless and until such holder has returned a completed and signed Notice and Questionnaire to the Company; 

(iii) after the Effective Time of the Shelf Registration Statement, upon the request of any holder of Registrable
Securities that is not then an Electing Holder, promptly send a Notice and Questionnaire to such holder; provided that the Company shall not be required to take any action to name such holder as a selling securityholder in the Shelf
Registration Statement or to enable such holder to use the prospectus forming a part thereof for resales of Registrable Securities until such holder has returned a completed and signed Notice and Questionnaire to the Company; 

(iv) as soon as practicable prepare and file with the Commission such amendments and supplements to such Shelf
Registration Statement and the prospectus included therein as may be necessary to effect and maintain the effectiveness of such Shelf Registration Statement for the period specified in Section 2(b) and as may be required by the applicable rules
and regulations of the Commission and the instructions applicable to the form of such Shelf Registration Statement, and furnish to the Electing Holders copies of any such supplement or amendment simultaneously with or prior to its being used or
filed with the Commission to the extent such documents are not publicly available on the Commission’s EDGAR System; 
 (v) comply with the provisions of the Securities Act with respect to the disposition of all of the Registrable Securities covered by such Shelf Registration Statement in accordance with the intended
methods of disposition by the Electing Holders provided for in such Shelf Registration Statement; 

  
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 (vi)
provide the Electing Holders and not more than one counsel for all the Electing Holders the opportunity to participate in the preparation of such Shelf Registration Statement, each prospectus included therein or filed with the Commission and each
amendment or supplement thereto; 
 (vii) for a reasonable period prior to the filing of such Shelf Registration
Statement, and throughout the period specified in Section 2(b), make available at reasonable times at the Company’s principal place of business or such other reasonable place for inspection by the persons referred to in
Section 3(d)(vi) who shall certify to the Company that they have a current intention to sell the Registrable Securities pursuant to the Shelf Registration such financial and other information and books and records of the Company, and cause the
officers, employees, counsel and independent certified public accountants of the Company to respond to such inquiries, as shall be reasonably necessary (and in the case of counsel, not violate an attorney-client privilege, in such counsel’s
reasonable belief), in the judgment of the respective counsel referred to in Section 3(d)(vi), to conduct a reasonable investigation within the meaning of Section 11 of the Securities Act; provided, however, that the foregoing
inspection and information gathering on behalf of the Electing Holders shall be conducted by one counsel designated by the holders of at least a majority in aggregate principal amount of the Registrable Securities held by the Electing Holders at the
time outstanding and provided further that each such party shall be required to maintain in confidence and not to disclose to any other person any information or records reasonably designated by the Company as being confidential, until such
time as (A) such information becomes a matter of public record (whether by virtue of its inclusion in such Shelf Registration Statement or otherwise), or (B) such person shall be required so to disclose such information pursuant to a
subpoena or order of any court or other governmental agency or body having jurisdiction over the matter (subject to the requirements of such order, and only after such person shall have given the Company prompt prior written notice of such
requirement), or (C) such information is required to be set forth in such Shelf Registration Statement or the prospectus included therein or in an amendment to such Shelf Registration Statement or an amendment or supplement to such prospectus
in order that such Shelf Registration Statement, prospectus, amendment or supplement, as the case may be, complies with applicable requirements of the federal securities laws and the rules and regulations of the Commission and does not contain an
untrue statement of a material fact or omit to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances then existing; 

(viii) promptly notify each of the Electing Holders and confirm such advice in writing, (A) when such Shelf
Registration Statement or the prospectus included therein or any prospectus amendment or supplement or post-effective amendment has been filed, and, with respect to such Shelf Registration Statement or any post-effective amendment, when the same has
become effective, (B) of any comments by the Commission and by the blue sky or securities commissioner or regulator of any state with respect thereto or any request by the Commission for amendments or supplements to such Shelf Registration
Statement or prospectus or for additional information, (C) of the issuance by the Commission of any stop order 

  
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suspending the effectiveness of such Shelf Registration Statement or the initiation or threatening of any proceedings for that purpose, (D) if at any time the representations and warranties
of the Company set forth in Section 5 cease to be true and correct in all material respects, (E) of the receipt by the Company of any notification with respect to the suspension of the qualification of the Registrable Securities for sale
in any jurisdiction or the initiation or threatening of any proceeding for such purpose, (F) the occurrence of any event that causes the Company to become an “ineligible issuer” as defined in Rule 405, or (G) if at any time
when a prospectus is required to be delivered under the Securities Act, that such Shelf Registration Statement, prospectus, prospectus amendment or supplement or post-effective amendment does not conform in all material respects to the applicable
requirements of the Securities Act and the Trust Indenture Act or contains an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading in light
of the circumstances then existing; 
 (ix) use all commercially reasonable efforts to obtain the withdrawal of
any order suspending the effectiveness of such Shelf Registration Statement or any post-effective amendment thereto at the earliest practicable date; 
 (x) if requested by any Electing Holder, promptly incorporate in a prospectus supplement or post-effective amendment such information as is required by the applicable rules and regulations of the
Commission and as such Electing Holder specifies should be included therein relating to the terms of the sale of such Registrable Securities, including information with respect to the principal amount of Registrable Securities being sold by such
Electing Holder, the name and description of such Electing Holder, the offering price of such Registrable Securities and any discount, commission or other compensation payable in respect thereof and with respect to any other terms of the offering of
the Registrable Securities to be sold by such Electing Holder; and make all required filings of such prospectus supplement or post-effective amendment promptly after notification of the matters to be incorporated in such prospectus supplement or
post-effective amendment; 
 (xi) furnish to each Electing Holder and the counsel referred to in
Section 3(d)(vi) an executed copy (or a conformed copy) of such Shelf Registration Statement, each such amendment and supplement thereto (in each case including all exhibits thereto (in the case of an Electing Holder of Registrable Securities,
upon request) and documents incorporated by reference therein) and such number of copies of such Shelf Registration Statement (excluding exhibits thereto and documents incorporated by reference therein unless specifically so requested by such
Electing Holder) and of the prospectus included in such Shelf Registration Statement (including each preliminary prospectus and any summary prospectus), in conformity in all material respects with the applicable requirements of the Securities Act
and the Trust Indenture Act to the extent such documents are not available through the Commission’s EDGAR System, and such other documents, as such Electing Holder may reasonably request in order to facilitate the offering and disposition of
the Registrable Securities owned by such Electing Holder and to permit such Electing Holder to satisfy the prospectus delivery requirements of the Securities Act; and subject to Section 3(e), the Company hereby consents to the use of such
prospectus (including such preliminary and summary prospectus) and any amendment or supplement thereto by each such Electing Holder (subject to any 

  
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applicable Suspension Period), in each case in the form most recently provided to such person by the Company, in connection with the offering and sale of the Registrable Securities covered by the
prospectus (including such preliminary and summary prospectus) or any supplement or amendment thereto; 
 (xii)
use all commercially reasonable efforts to (A) register or qualify the Registrable Securities to be included in such Shelf Registration Statement under such securities laws or blue sky laws of such jurisdictions as any Electing Holder shall
reasonably request, (B) keep such registrations or qualifications in effect and comply with such laws so as to permit the continuance of offers, sales and dealings therein in such jurisdictions during the period the Shelf Registration Statement
is required to remain effective under Section 2(b) and for so long as may be necessary to enable any such Electing Holder to complete its distribution of Registrable Securities pursuant to such Shelf Registration Statement, (C) take any
and all other actions as may be reasonably necessary or advisable to enable each such Electing Holder to consummate the disposition in such jurisdictions of such Registrable Securities and (D) obtain the consent or approval of each governmental
agency or authority, whether federal, state or local, which may be required to effect the Shelf Registration or the offering or sale in connection therewith or to enable the selling holder or holders to offer, or to consummate the disposition of,
their Registrable Securities; provided, however, that neither the Company nor the Guarantor shall be required for any such purpose to (1) qualify as a foreign corporation in any jurisdiction wherein it would not otherwise be required to
qualify but for the requirements of this Section 3(d)(xii), (2) consent to general service of process in any such jurisdiction or become subject to taxation in any such jurisdiction or (3) make any changes to its certificate of
incorporation or by-laws or other governing documents or any agreement between it and its stockholders; 
 (xiii)
in the event any Registrable Securities are exchangeable into certificated form pursuant to the Indenture, cooperate with the Electing Holders to facilitate the timely preparation and delivery of certificates representing Registrable Securities to
be sold, which certificates, if so required by any securities exchange upon which any Registrable Securities are listed, shall be printed, penned, lithographed, engraved or otherwise produced by any combination of such methods, on steel engraved
borders, and which certificates shall not bear any restrictive legends; 
 (xiv) obtain a CUSIP number for all
Securities that have been registered under the Securities Act, not later than the applicable Effective Time; 

(xv) notify in writing each holder of Registrable Securities of any proposal by the Company to amend or waive any
provision of this Agreement pursuant to Section 9(h) and of any amendment or waiver effected pursuant thereto, each of which notices shall contain the text of the amendment or waiver proposed or effected, as the case may be; and 

(xvi) comply with all applicable rules and regulations of the Commission, and make generally available to its
securityholders no later than eighteen months after the Effective Time of such Shelf Registration Statement an “earning statement” of the Company and its subsidiaries complying with Section 11(a) of the Securities Act (including, at
the option of the Company, Rule 158 thereunder). 

  
 12 

  
 (e) In
the event that the Company would be required, pursuant to Section 3(d)(viii)(G), to notify the Electing Holders, the Company shall promptly prepare and furnish to each of the Electing Holders a reasonable number of copies of a prospectus
supplemented or amended so that, as thereafter delivered to purchasers of Registrable Securities, such prospectus shall conform in all material respects to the applicable requirements of the Securities Act and the Trust Indenture Act and shall not
contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances then existing. Each Electing Holder agrees that
upon receipt of any notice from the Company pursuant to Section 3(d)(viii)(G), such Electing Holder shall forthwith discontinue the disposition of Registrable Securities pursuant to the Shelf Registration Statement applicable to such
Registrable Securities until such Electing Holder shall have received copies of such amended or supplemented prospectus, and if so directed by the Company, such Electing Holder shall deliver to the Company (at the Company’s expense) all copies,
other than permanent file copies, of the prospectus covering such Registrable Securities in such Electing Holder’s possession at the time of receipt of such notice. 

(f) In the event of a Shelf Registration, in addition to the information required to be provided by each Electing Holder
in its Notice and Questionnaire, the Company may require such Electing Holder to furnish to the Company such additional information regarding such Electing Holder and such Electing Holder’s intended method of distribution of Registrable
Securities as may be required in order to comply with the Securities Act. Each such Electing Holder agrees to notify the Company as promptly as practicable of any inaccuracy or change in information previously furnished by such Electing Holder to
the Company or of the occurrence of any event in either case as a result of which any prospectus relating to such Shelf Registration contains or would contain an untrue statement of a material fact regarding such Electing Holder or such Electing
Holder’s intended method of disposition of such Registrable Securities or omits to state any material fact regarding such Electing Holder or such Electing Holder’s intended method of disposition of such Registrable Securities required to
be stated therein or necessary to make the statements therein not misleading in light of the circumstances then existing, and promptly to furnish to the Company any additional information required to correct and update any previously furnished
information or required so that such prospectus shall not contain, with respect to such Electing Holder or the disposition of such Registrable Securities, an untrue statement of a material fact or omit to state a material fact required to be stated
therein or necessary to make the statements therein not misleading in light of the circumstances then existing. 

(g) Until the expiration of one year after the Closing Date, the Company will not, and will not permit any of its
“affiliates” (as defined in Rule 144) to, resell any of the Securities that have been reacquired by any of them except pursuant to an effective registration statement, or a valid exemption from the registration requirements, under the
Securities Act. 
 (h) As a condition to its participation in the Exchange Offer, each holder of Registrable
Securities shall furnish, upon the request of the Company, a written representation to the Company (which may be contained in the letter of transmittal or “agent’s message” transmitted via The Depository Trust Company’s Automated
Tender Offer Procedures, in either case contemplated by the Exchange Registration Statement) to the effect that (A) it is not an “affiliate” of the Company, as defined in Rule 405 of the Securities Act, or if it is such an
“affiliate”, it will comply with the registration and prospectus delivery requirements of the Securities Act to the extent applicable, (B) it is not engaged in and does not intend to engage in, and has no arrangement or understanding
with any person to participate in, a 

  
 13 

 
distribution of the Exchange Securities to be issued in the Exchange Offer, (C) it is acquiring the Exchange Securities in its ordinary course of business, (D) if it is a broker-dealer
that holds Securities that were acquired for its own account as a result of market-making activities or other trading activities (other than Securities acquired directly from the Company or any of its affiliates), it will deliver a prospectus
meeting the requirements of the Securities Act in connection with any resales of the Exchange Securities received by it in the Exchange Offer, (E) if it is a broker-dealer, that it did not purchase the Securities to be exchanged in the Exchange
Offer from the Company or any of its affiliates, and (F) it is not acting on behalf of any person who could not truthfully and completely make the representations contained in the foregoing subclauses (A) through (E). 

4. Registration Expenses. 
 The Company agrees to bear and to pay or cause to be paid promptly all expenses incident to the Company’s performance of or compliance with this Agreement, including (a) all Commission and any
FINRA registration, filing and review fees and expenses including reasonable fees and disbursements of counsel for the Eligible Holders in connection with such registration, filing and review, (b) all fees and expenses in connection with the
qualification of the Registrable Securities and the Exchange Securities, as applicable, for offering and sale under the State securities and blue sky laws referred to in Section 3(d)(xii) and determination of their eligibility for investment
under the laws of such jurisdictions as the Electing Holders may designate, including any reasonable fees and disbursements of counsel for the Electing Holders in connection with such qualification and determination, (c) all expenses relating
to the preparation, printing, production, distribution and reproduction of each registration statement required to be filed hereunder, each prospectus included therein or prepared for distribution pursuant hereto, each amendment or supplement to the
foregoing, the expenses of preparing the Securities or Exchange Securities, as applicable, for delivery and the expenses of printing or producing any selling agreements and blue sky or legal investment memoranda and all other documents in connection
with the offering, sale or delivery of Securities or Exchange Securities, as applicable, to be disposed of (including certificates representing the Securities or Exchange Securities, as applicable), (d) messenger, telephone and delivery
expenses relating to the offering, sale or delivery of Securities or Exchange Securities, as applicable, and the preparation of documents referred in clause (c) above, (e) fees and expenses of the Trustee under the Indenture, any agent of
the Trustee and any counsel for the Trustee and of any collateral agent or custodian, (f) internal expenses (including all salaries and expenses of the Company’s officers and employees performing legal or accounting duties),
(g) reasonable fees, disbursements and expenses of counsel and independent certified public accountants of the Company, (h) reasonable fees, disbursements and expenses of one counsel for the Electing Holders retained in connection with a
Shelf Registration, as selected by the Electing Holders of at least a majority in aggregate principal amount of the Registrable Securities held by Electing Holders (which counsel shall be reasonably satisfactory to the Company), (i) any fees
charged by securities rating services for rating the Registrable Securities or the Exchange Securities, as applicable, and (j) fees, expenses and disbursements of any other persons, including special experts, retained by the Company in
connection with such registration (collectively, the “Registration Expenses”). To the extent that any Registration Expenses are incurred, assumed or paid by any holder of Registrable Securities, Securities or Exchange Securities, as
applicable, the Company shall reimburse such person for the full amount of the Registration Expenses so incurred, assumed or paid promptly after receipt of a request therefor. Notwithstanding the foregoing, the holders of the Registrable Securities
being registered shall pay all agency fees and commissions and underwriting discounts and commissions, if any, and transfer taxes, if any, 

  
 14 

 
attributable to the sale of such Registrable Securities and Exchange Securities, as applicable, and the fees and disbursements of any counsel or other advisors or experts retained by such holders
(severally or jointly), other than the counsel and experts specifically referred to above. 
 5. Representations and
Warranties. 
 Each of the Company and the Guarantors, jointly and severally, represents and warrants to, and agrees with,
each Purchaser and each of the holders from time to time of Registrable Securities that: 
 (a) Each registration
statement covering Registrable Securities, Securities or Exchange Securities, as applicable, and each prospectus (including any preliminary or summary prospectus) contained therein or furnished pursuant to Section 3(c) or Section 3(d) and
any further amendments or supplements to any such registration statement or prospectus, when it becomes effective or is filed with the Commission, as the case may be, will conform in all material respects to the requirements of the Securities Act
and the Trust Indenture Act and will not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading; and at all times subsequent to the
Effective Time when a prospectus would be required to be delivered under the Securities Act, other than (A) from (i) such time as a notice has been given to holders of Registrable Securities pursuant to Section 3(c)(iii)(G) or
Section 3(d)(viii)(G) until (ii) such time as the Company furnishes an amended or supplemented prospectus pursuant to Section 3(c)(iv) or Section 3(e) or (B) during any applicable Suspension Period, each such registration
statement, and each prospectus (including any summary prospectus) contained therein or furnished pursuant to Section 3(c) or Section 3(d), as then amended or supplemented, will conform in all material respects to the requirements of the
Securities Act and the Trust Indenture Act and will not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading in the light of the
circumstances then existing; provided, however, that this representation and warranty shall not apply to any statements or omissions made in reliance upon and in conformity with information furnished in writing to the Company by a holder of
Registrable Securities expressly for use therein. 
 (b) Any documents incorporated by reference in any
prospectus referred to in Section 5(a), when they become or became effective or are or were filed with the Commission, as the case may be, will conform or conformed in all material respects to the requirements of the Securities Act or the
Exchange Act, as applicable, and none of such documents will contain or contained an untrue statement of a material fact or will omit or omitted to state a material fact required to be stated therein or necessary to make the statements therein not
misleading; provided, however, that this representation and warranty shall not apply to any statements or omissions made in reliance upon and in conformity with information furnished in writing to the Company by a holder of Registrable
Securities expressly for use therein. 
 (c) The compliance by the Company and the Guarantors with all of the
provisions of this Agreement and the consummation of the transactions herein contemplated will not (i) conflict with or result in a breach or violation of any of the terms or provisions of, or constitute a default under, any indenture,
mortgage, deed of trust, loan agreement or other agreement or instrument to which the Company or any of the Guarantors is a party or by which the Company or any of the Guarantors is bound or to which any of the property or assets of the Company or
any of the Guarantors is subject, (ii) result in any violation of the 

  
 15 

 
provisions of the certificate of incorporation, as amended, or the by-laws or other governing documents, as applicable, of the Company or the Guarantors or (iii) result in any violation of
any statute or any order, rule or regulation of any court or governmental agency or body having jurisdiction over the Company or any of the Guarantors or any of their respective properties, except in the case of (i) and (iii) above, for
such conflicts, breaches or defaults as would not reasonably be expected to result in a material adverse effect on the general affairs, management, financial position, stockholders’ equity or results of operations of the Company and the
Guarantors, taken as whole (a “Material Adverse Effect”); and no consent, approval, authorization, order, registration or qualification of or with any such court or governmental agency or body is required for the consummation by the
Company and the Guarantors of the transactions contemplated by this Agreement, except (w) the registration under the Securities Act of the Registrable Securities and the Exchange Securities, as applicable, and qualification of the Indenture
under the Trust Indenture Act, (x) such consents, approvals, authorizations, registrations or qualifications as may be required under state securities or blue sky laws in connection with the offering and distribution of the Registrable
Securities and the Exchange Securities, as applicable, (y) such consents, approvals, authorizations, registrations or qualifications that have been obtained and are in full force and effect as of the date hereof and (z) such consents,
approvals, authorizations, registrations or qualifications that the failure to have would not reasonably be expected to have a Material Adverse Effect. 
 (d) This Agreement has been duly authorized, executed and delivered by the Company and by the Guarantors. 
 6. Indemnification and Contribution. 
 (a)
Indemnification by the Company and the Guarantors. The Company and each of the Guarantors, jointly and severally, will indemnify and hold harmless each of the holders of Registrable Securities included in an Exchange Registration Statement
and each of the Electing Holders as holders of Registrable Securities included in a Shelf Registration Statement against any losses, claims, damages or liabilities, joint or several, to which such holder or such Electing Holder may become subject
under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon an untrue statement or alleged untrue statement of a material fact contained in any Exchange
Registration Statement or any Shelf Registration Statement, as the case may be, under which such Registrable Securities or Exchange Securities were registered under the Securities Act, or any preliminary, final or summary prospectus (including,
without limitation, any “issuer free writing prospectus” as defined in Rule 433) contained therein or furnished by the Company to any such holder or any such Electing Holder, or any amendment or supplement thereto, or arise out of or
are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse each such holder and each such Electing Holder for any and
all legal or other expenses reasonably incurred by them in connection with investigating or defending any such action or claim as such expenses are incurred; provided, however, that neither the Company nor the Guarantors shall be liable to
any such person in any such case to the extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in such registration statement, or
preliminary, final or summary prospectus (including, without limitation, any “issuer free writing prospectus” as defined in Rule 433), or amendment or supplement thereto, in reliance upon and in conformity with written information
furnished to the Company by such person expressly for use therein. 

  
 16 

  
 (b)
Indemnification by the Electing Holders. The Company will require, as a condition to including any Registrable Securities in any Shelf Registration Statement filed pursuant to Section 2(b), that the Company shall have received an
undertaking reasonably satisfactory to it from each Electing Holder of Registrable Securities included in such Shelf Registration Statement, severally and not jointly, to (i) indemnify and hold harmless the Company, the Guarantors and all other
Electing Holders of Registrable Securities included in such Shelf Registration Statement, against any losses, claims, damages or liabilities to which the Company, the Guarantors or such other Electing Holders may become subject, under the Securities
Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon an untrue statement or alleged untrue statement of a material fact contained in such registration statement, or
any preliminary, final or summary prospectus (including, without limitation, any “issuer free writing prospectus” as defined in Rule 433) contained therein or furnished by the Company to any Electing Holder, or any amendment or
supplement thereto, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, in each case to the extent, but only to
the extent, that such untrue statement or alleged untrue statement or omission or alleged omission was made in reliance upon and in conformity with written information furnished to the Company by such Electing Holder expressly for use therein, and
(ii) reimburse the Company and the Guarantors for any legal or other expenses reasonably incurred by the Company and the Guarantors in connection with investigating or defending any such action or claim as such expenses are incurred;
provided, however, that no such Electing Holder shall be required to undertake liability to any person under this Section 6(b) for any amounts in excess of the dollar amount of the proceeds to be received by such Electing Holder from the
sale of such Electing Holder’s Registrable Securities pursuant to such registration. 
 (c) Notices of
Claims, Etc. Promptly after receipt by an indemnified party under subsection (a) or (b) above of written notice of the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against an
indemnifying party pursuant to the indemnification provisions of or contemplated by this Section 6, notify such indemnifying party in writing of the commencement of such action; but the omission so to notify the indemnifying party shall not
relieve it from any liability which it may have to any indemnified party under Section 6(a) or 6(b) except to the extent that the indemnifying party has been materially prejudiced through the forfeiture of substantive rights and defenses by
such failure and the failure to notify the indemnifying party shall not relieve it from any liability which it may have to any indemnified party otherwise than under the indemnification provisions of or contemplated by Section 6(a) or
Section 6(b). In case any such action shall be brought against any indemnified party and it shall notify an indemnifying party of the commencement thereof, such indemnifying party shall be entitled to participate therein and, to the extent that
it shall wish, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with counsel reasonably satisfactory to such indemnified party (who shall not, except with the consent of the indemnified party, be counsel
to the indemnifying party), and, after notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof, such indemnifying party shall not be liable to such indemnified party for any legal expenses of
other counsel or any other expenses, in each case subsequently incurred by such indemnified party, in connection with the defense thereof other than reasonable costs of investigation, unless the indemnifying party and the

  
 17 

 
indemnified party shall have mutually agreed in writing to the retention of such counsel. No indemnifying party shall, without the prior written consent of the indemnified party, effect the
settlement or compromise of, or consent to the entry of any judgment with respect to, any pending or threatened action or claim in respect of which indemnification or contribution may be sought hereunder (whether or not the indemnified party is an
actual or potential party to such action or claim) unless such settlement, compromise or judgment (i) includes an unconditional release of the indemnified party from all liability arising out of such action or claim and (ii) does not
include a statement as to, or an admission of, fault, culpability or a failure to act by or on behalf of any indemnified party. 
 (d) Contribution. If for any reason the indemnification provisions contemplated by Section 6(a) or Section 6(b) are unavailable to or insufficient to hold harmless an indemnified party in
respect of any losses, claims, damages or liabilities (or actions in respect thereof) referred to therein, then each indemnifying party shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims,
damages or liabilities (or actions in respect thereof) in such proportion as is appropriate to reflect the relative fault of the indemnifying party and the indemnified party in connection with the statements or omissions which resulted in such
losses, claims, damages or liabilities (or actions in respect thereof), as well as any other relevant equitable considerations. The relative fault of such indemnifying party and indemnified party shall be determined by reference to, among other
things, whether the untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact relates to information supplied by such indemnifying party or by such indemnified party, and the parties’
relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The parties hereto agree that it would not be just and equitable if contributions pursuant to this Section 6(d) were determined
by pro rata allocation (even if the holders were treated as one entity for such purpose) or by any other method of allocation which does not take account of the equitable considerations referred to in this Section 6(d). The amount paid or
payable by an indemnified party as a result of the losses, claims, damages, or liabilities (or actions in respect thereof) referred to above shall be deemed to include any legal or other fees or expenses reasonably incurred by such indemnified party
in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 6(d), no Electing Holder shall be required to contribute any amount in excess of the amount by which the dollar amount of the
proceeds received by such holder from the sale of any Registrable Securities (after deducting any fees, discounts and commissions applicable thereto) exceeds the amount of any damages which such holder has otherwise been required to pay by reason of
such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not
guilty of such fraudulent misrepresentation. The holders’ obligations in this Section 6(d) to contribute shall be several in proportion to the principal amount of Registrable Securities registered by them and not joint. 

(e) The obligations of the Company and the Guarantors under this Section 6 shall be in addition to any liability
which the Company or the Guarantors may otherwise have and shall extend, upon the same terms and conditions, to each officer, director and partner of each holder, each Electing Holder, and each person, if any, who controls any of the foregoing
within the meaning of the Securities Act; and the obligations of the holders and the Electing Holders contemplated by this Section 6 shall be in addition to any liability which the respective holder or Electing Holder may otherwise have and
shall extend, upon the same 

  
 18 

 
terms and conditions, to each officer and director of the Company or the Guarantors and to each person, if any, who controls the Company within the meaning of the Securities Act, as well as to
each officer and director of the other holders and to each person, if any, who controls such other holders within the meaning of the Securities Act. 
 7. Underwritten Offerings. 
 Each holder of Registrable Securities hereby
agrees with the Company and each other such holder that no holder of Registrable Securities may participate in any underwritten offering hereunder unless (a) the Company gives its prior written consent to such underwritten offering,
(b) the managing underwriter or underwriters thereof shall be designated by Electing Holders holding at least a majority in aggregate principal amount of the Registrable Securities to be included in such offering, provided that such designated
managing underwriter or underwriters is or are reasonably acceptable to the Company, (c) each holder of Registrable Securities participating in such underwritten offering agrees to sell such holder’s Registrable Securities on the basis
provided in any underwriting arrangements approved by the persons entitled selecting the managing underwriter or underwriters hereunder and (d) each holder of Registrable Securities participating in such underwritten offering completes and
executes all questionnaires, powers of attorney, indemnities, underwriting agreements and other documents reasonably required under the terms of such underwriting arrangements. The Company hereby agrees with each holder of Registrable Securities
that, to the extent it consents to an underwritten offering hereunder, it will negotiate in good faith and execute all indemnities, underwriting agreements and other documents reasonably required under the terms of such underwriting arrangements,
including using all commercially reasonable efforts to procure customary legal opinions and auditor “comfort” letters. 
 8. Rule 144. 
 (a) Facilitation of Sales Pursuant to
Rule 144. The Company covenants to the holders of Registrable Securities that to the extent it shall be required to do so under the Exchange Act, the Company shall timely file the reports required to be filed by it under the Exchange Act or the
Securities Act (including the reports under Sections 13 and 15(d) of the Exchange Act referred to in subparagraph (c)(1) of Rule 144), and shall take such further action as any holder of Registrable Securities may reasonably request, all
to the extent required from time to time to enable such holder to sell Registrable Securities without registration under the Securities Act within the limitations of the exemption provided by Rule 144. Upon the request of any holder of
Registrable Securities in connection with that holder’s sale pursuant to Rule 144, the Company shall deliver to such holder a written statement as to whether it has complied with such requirements. 

(b) Availability of Rule 144 Not Excuse for Obligations under Section 2. The fact that holders of Registrable
Securities may become eligible to sell such Registrable Securities pursuant to Rule 144 shall not (1) cause such Securities to cease to be Registrable Securities or (2) excuse the Company’s and the Guarantors’ obligations set
forth in Section 2 of this Agreement, including without limitation the obligations in respect of an Exchange Offer and Shelf Registration Special Interest. 
 9. Miscellaneous. 
 (a) No Inconsistent Agreements.
The Company represents, warrants, covenants and agrees that it has not granted, and shall not grant, registration rights with respect to Registrable Securities, Exchange Securities or Securities, as applicable, or any other securities which
would be inconsistent with the terms contained in this Agreement. 

  
 19 

  
 (b)
Specific Performance. The parties hereto acknowledge that there would be no adequate remedy at law if the Company fails to perform any of its obligations hereunder and that the Purchasers and the holders from time to time of the Registrable
Securities may be irreparably harmed by any such failure, and accordingly agree that the Purchasers and such holders, in addition to any other remedy to which they may be entitled at law or in equity, shall be entitled to compel specific performance
of the obligations of the Company under this Agreement in accordance with the terms and conditions of this Agreement, in any court of the United States or any State thereof having jurisdiction. Time shall be of the essence in this Agreement.

 (c) Notices. All notices, requests, claims, demands, waivers and other communications hereunder shall
be in writing and shall be deemed to have been duly given when delivered by hand, if delivered personally, by facsimile or by courier, or three days after being deposited in the mail (registered or certified mail, postage prepaid, return receipt
requested) as follows: If to the Company, to it at Wessex House, 45 Reid Street, Hamilton HM12, Bermuda, Attention: Chief Financial Officer, and if to a holder, to the address of such holder set forth in the security register or other records of the
Company, or to such other address as the Company or any such holder may have furnished to the other in writing in accordance herewith, except that notices of change of address shall be effective only upon receipt. 

(d) Parties in Interest. All the terms and provisions of this Agreement shall be binding upon, shall inure to the
benefit of and shall be enforceable by the parties hereto, the holders from time to time of the Registrable Securities and the respective successors and assigns of the foregoing. In the event that any transferee of any holder of Registrable
Securities shall acquire Registrable Securities, in any manner, whether by gift, bequest, purchase, operation of law or otherwise, such transferee shall, without any further writing or action of any kind, be deemed a beneficiary hereof for all
purposes and such Registrable Securities shall be held subject to all of the terms of this Agreement, and by taking and holding such Registrable Securities such transferee shall be entitled to receive the benefits of, and be conclusively deemed to
have agreed to be bound by all of the applicable terms and provisions of this Agreement. If the Company shall so request, any such successor, assign or transferee shall agree in writing to acquire and hold the Registrable Securities subject to all
of the applicable terms hereof. 
 (e) Survival. The respective indemnities, agreements, representations,
warranties and each other provision set forth in this Agreement or made pursuant hereto shall remain in full force and effect regardless of any investigation (or statement as to the results thereof) made by or on behalf of any holder of Registrable
Securities, any director, officer or partner of such holder, or any controlling person of any of the foregoing, and shall survive delivery of and payment for the Registrable Securities pursuant to the Purchase Agreement, the transfer and
registration of Registrable Securities by such holder and the consummation of an Exchange Offer. 
 (f)
Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New York. 

  
 20 

  
 (g)
Headings. The descriptive headings of the several Sections and paragraphs of this Agreement are inserted for convenience only, do not constitute a part of this Agreement and shall not affect in any way the meaning or interpretation of this
Agreement. 
 (h) Entire Agreement; Amendments. This Agreement and the other writings referred to herein
(including the Indenture and the form of Securities) or delivered pursuant hereto which form a part hereof contain the entire understanding of the parties with respect to its subject matter. This Agreement supersedes all prior agreements and
understandings between the parties with respect to its subject matter. This Agreement may be amended and the observance of any term of this Agreement may be waived (either generally or in a particular instance and either retroactively or
prospectively) only by a written instrument duly executed by the Company and the holders of a majority in aggregate principal amount of the Registrable Securities at the time outstanding. Each holder of any Registrable Securities at the time or
thereafter outstanding shall be bound by any amendment or waiver effected pursuant to this Section 9(h), whether or not any notice, writing or marking indicating such amendment or waiver appears on such Registrable Securities or is delivered to
such holder. 
 (i) Inspection. For so long as this Agreement shall be in effect, this Agreement and a
complete list of the names and addresses of all the record holders of Registrable Securities shall be made available for inspection and copying on any Business Day by any holder of Registrable Securities for proper purposes only (which shall include
any purpose related to the rights of the holders of Registrable Securities under the Securities, the Indenture and this Agreement) at the offices of the Company at the address thereof set forth in Section 9(c) and at the office of the Trustee
under the Indenture. 
 (j) Counterparts. This Agreement may be executed by the parties in counterparts,
each of which shall be deemed to be an original, but all such respective counterparts shall together constitute one and the same instrument. 
 (k) Severability. If any provision of this Agreement, or the application thereof in any circumstance, is held to be invalid, illegal or unenforceable in any respect for any reason, the validity,
legality and enforceability of such provision in every other respect and of the remaining provisions contained in this Agreement shall not be affected or impaired thereby. 

(l) Agent for Service; Submission to Jurisdiction. Each of the Company and the Guarantors agrees that any legal
suit, action or proceeding arising out of or based upon this Agreement or brought with respect to the Securities under U.S. federal or state securities laws may be instituted in the federal courts of the United States of America located in the City
and County of New York or the courts of the State of New York located in the City and County of New York (collectively, the “Specified Courts”), and each party irrevocably submits to the non-exclusive jurisdiction of such courts in any
such suit, action or proceeding. Each of the Company and the Guarantors irrevocably appoints Global Crossing Development Co., 200 Park Avenue, Suite 300, Florham Park, NJ 07932 as its agent to receive service of process or other legal summons for
purposes of any such suit, action or proceeding that may be instituted in the Specified Courts. Service of any process, summons, notice or document upon such agent, and written notice of said service by mail to such party’s address set forth
above shall be effective service of process for any suit, action or other proceeding brought in any such court. The parties irrevocably and unconditionally waive, to the fullest extent permitted by applicable law, any objection to the laying of
venue of any suit, action or other proceeding in the Specified Courts and irrevocably and unconditionally waive and agree not to plead or claim, to the fullest extent permitted by applicable law, in any such court that any such suit, action or other
proceeding brought in any such court has been brought in an inconvenient forum. 

  
 21 

  
 (m)
Waiver of Immunity. With regard to any of the foregoing proceedings, each party hereby irrevocably waives, to the fullest extent permitted by applicable law, all immunity (whether on the basis of sovereignty or otherwise) from jurisdiction,
service of process, attachment (both before and after judgment) and execution to which it might otherwise be entitled in the Specified Courts, and with respect to any proceedings instituted in regard to the enforcement of a judgment of the Specified
Courts, each party waives any such immunity in the Specified Courts or any other court of competent jurisdiction, and will not raise or claim or cause to be pleaded any such immunity at or in respect of any such proceeding or judgment, including,
without limitation, any immunity pursuant to the United States Foreign Sovereign Immunities Act of 1976, as amended. 
 (n) Currency Exchange. If for the purposes of obtaining judgment in any court it is necessary to convert a sum due hereunder into any currency other than U.S. dollars, the parties hereto agree, to
the fullest extent that they may effectively do so, that the rate of exchange used shall be the rate at which in accordance with normal banking procedures the holder could purchase U.S. dollars with such other currency in The City of New York on the
business day preceding that on which final judgment is given. The obligations of the Company and the Guarantors in respect of any sum due from it to any holder shall, notwithstanding any judgment in any currency other than U.S. dollars, not be
discharged until the first business day, following receipt by such holder of any sum adjudged to be so due in such other currency, on which (and only to the extent that) such holder may in accordance with normal banking procedures purchase U.S.
dollars with such other currency; if the U.S. dollars so purchased are less than the sum originally due to such holder hereunder, each of the Company and the Guarantors agrees, as a separate obligation and notwithstanding any such judgment, to
indemnify such holder against such loss. If the U.S. dollars so purchased are greater than the sum originally due to such holder hereunder, such holder agrees to pay the Company or the Guarantors an amount equal to the excess of the dollars so
purchased over the sum originally due to such holder hereunder. 

  
 22 

  
 If the foregoing is in
accordance with your understanding, please sign and return to us counterparts hereof, and upon the acceptance hereof by you, on behalf of each of the Purchasers, this letter and such acceptance hereof shall constitute a binding agreement between
each of the Purchasers, the Guarantors and the Company. It is understood that your acceptance of this letter on behalf of each of the Purchasers is pursuant to the authority set forth in a form of Agreement among Purchasers, the form of which shall
be submitted to the Company for examination upon request, but without warranty on your part as to the authority of the signers thereof. 
  

			
	Very truly yours,
	
	GLOBAL CROSSING LIMITED
		
	By:	 	 /s/ Mitchell Sussis

		 	 Name: Mitchell Sussis

Title: Senior Vice President

  
 [Signature
Page to Registration Rights Agreement] 

  
 
			
	 GLOBAL CROSSING HOLDINGS LIMITED
 ATLANTIC CROSSING LTD.
 GLOBAL CROSSING ASIA HOLDINGS LTD.

GLOBAL CROSSING AUSTRALIA HOLDINGS LTD.

GLOBAL CROSSING NETWORK CENTER LTD.

GLOBAL CROSSING INTERNATIONAL, LTD.

OLD GMS HOLDINGS LTD.
 SOUTH AMERICAN
CROSSING HOLDINGS LTD.
 GLOBAL CROSSING INTERNATIONAL NETWORKS LTD.
 GC CRYSTAL HOLDINGS LTD.
 PAC PANAMA LTD.

GLOBAL CROSSING TELECOMMUNICATIONS – CANADA, LTD.
 RACAL TELECOMMUNICATIONS, INC.
 INTERNATIONAL OPTICAL NETWORK L.L.C.

GLOBAL CROSSING BANDWIDTH, INC.
 GLOBAL
CROSSING NORTH AMERICA, INC.
 GLOBAL CROSSING DEVELOPMENT CO.
 GLOBAL CROSSING EMPLOYEE SERVICES INC.
 GLOBAL CROSSING LOCAL SERVICES,
INC.
 GLOBAL CROSSING NORTH AMERICAN HOLDINGS, INC.
 GLOBAL CROSSING NORTH AMERICAN NETWORKS, INC.
 GLOBAL CROSSING TELECOMMUNICATIONS,
INC.
 ALC COMMUNICATIONS CORPORATION
 BUDGET CALL LONG DISTANCE, INC.
 GT LANDING II CORP.

GLOBAL CROSSING TELEMANAGEMENT, INC.

GLOBAL CROSSING TELEMANAGEMENT VA, LLC

GLOBAL CROSSING AMERICAS SOLUTIONS, INC.

AMERITEL MANAGEMENT, INC.

		
	By:	 	 /s/ Mitchell Sussis

		 	 Name: Mitchell Sussis

Title: Vice President

	
	for each of the Guarantors listed above

  
 [Signature
Page to Registration Rights Agreement] 

			
	 GC IMPSAT HOLDINGS I PLC
 GC IMPSAT HOLDINGS II LIMITED
 GC IMPSAT HOLDINGS III LIMITED

		
	By:	 	 /s/ Mitchell Sussis

		 	 Name: Mitchell Sussis

Title: Secretary

	
	for each of the Guarantors listed above

  
 [Signature
Page to Registration Rights Agreement] 

			
	 GLOBAL CROSSING GENESIS NETWORKS, INC.

As a Guarantor

		
	 By:
	 	 /s/ Mitchell Sussis

		 	 Name: Mitchell Sussis

Title: Vice President & Secretary

  
 [Signature
Page to Registration Rights Agreement] 

			
	 IMPSAT FIBER NETWORKS, INC.

As a Guarantor

		
	By:	 	 /s/ Mitchell Sussis

		 	 Name: Mitchell Sussis

Title: Senior Vice President, Legal

  
 [Signature
Page to Registration Rights Agreement] 

  
 
			
	 GLOBAL CROSSING AUSTRALIA PTY LIMITED
 As a Guarantor

		
	By:	 	 /s/ Mitchell Sussis

		 	 Name: Mitchell Sussis

Title: Attorney

  
 [Signature
Page to Registration Rights Agreement] 

			
	 GLOBAL CROSSING PEC BELGIUM BVBA
 GLOBAL CROSSING PEC DANMARK APS
 FIBERNET GMBH

GLOBAL CROSSING PEC DEUTSCHLAND GMBH

GLOBAL CROSSING IRELAND LIMITED
 GLOBAL
CROSSING SERVICES EUROPE LIMITED
 GLOBAL CROSSING SERVICES IRELAND LIMITED
 GC IMPSAT HOLDINGS NEDERLAND B.V.
 GLOBAL CROSSING PEC HOLDINGS B.V.

GLOBAL CROSSING PEC NEDERLAND B.V.

GLOBAL CROSSING NEDERLAND B.V.
 GLOBAL
CROSSING PEC ESPAÑA S.A.
 GLOBAL CROSSING SVERIGE AB
 GLOBAL CROSSING (BIDCO) LIMITED
 GLOBAL CROSSING EUROPE LIMITED

GLOBAL CROSSING FINANCIAL MARKETS LIMITED

PAN AMERICAN CROSSING UK LTD
 GC PAN
EUROPEAN CROSSING UK LIMITED

		
	By:	 	 /s/ Bernard Keogh

		 	 Name: Bernard Keogh
 Title:
Director

	
	for each of the Guarantors listed above

  
 [Signature
Page to Registration Rights Agreement] 

			
	 GLOBAL CROSSING PEC LUXEMBOURG I S.À.R.L.
 GLOBAL CROSSING PEC LUXEMBOURG II S.À.R.L.

		
	By:	 	 /s/ Arthur Eshuis

		 	 Name: Arthur Eshuis
 Title:
Manager

		
	By:	 	 /s/ Bernard Keogh

		 	Name: Bernard Keogh
		 	Title: Director
	
	for each of the Guarantors listed above

  
 [Signature
Page to Registration Rights Agreement] 

			
	 GLOBAL CROSSING PEC SWITZERLAND AG
 As a Guarantor

		
	By:	 	 /s/ Bernard Keogh

		 	 Name: Bernard Keogh
 Title:
Director

		
	By:	 	 /s/ Qamar Qadeer

		 	Name: Qamar Qadeer
		 	Title: Director

  
 [Signature
Page to Registration Rights Agreement] 

  
 
			
	 GLOBAL CROSSING PERU S.A.
 TELECOM INFRASTRUCTURE HARDWARE S.R.L.
 GLOBAL CROSSING CHILE S.A.

GLOBAL CROSSING SERVICIOS, S. DE R.L. DE C.V.
 GLOBAL CROSSING MEXICANA, S. DE R.L. DE C.V.
 GLOBAL CROSSING MEXICANA II, S. DE R.L. DE
C.V.
 GLOBAL CROSSING COSTA RICA, S.R.L.
 SAC PANAMA, S.A.
 GLOBAL CROSSING PANAMA INC

GLOBAL CROSSING VENEZUELA, S.A.
 GLOBAL
CROSSING COMUNICACIONES ECUADOR S.A.

		
	By:	 	 /s/ Mitchell Sussis

		 	 Name: Mitchell Sussis

Title: Authorized Signatory

	
	for each of the Guarantors listed above

  
 [Signature
Page to Registration Rights Agreement] 

  
 
			
	 GLOBAL CROSSING HONG KONG LIMITED
 GLOBAL CROSSING JAPAN KK
 GLOBAL CROSSING SINGAPORE PTE. LTD.

		
	By:	 	 /s/ Jon Fisse

		 	 Name: Jon Fisse
 Title:
Director

	
	for each of the Guarantors listed above

  
 [Signature
Page to Registration Rights Agreement] 

  
 
			
	 G.C. ST. CROIX COMPANY, INC.
 As Guarantor

		
	By:	 	 /s/ Johanna Ravelo

		 	 Name: Johanna Ravelo
 Title:
Vice President & Secretary

  
 [Signature
Page to Registration Rights Agreement] 

  
 
			
	 GLOBAL CROSSING COMUNICAÇÕES DO BRASIL LTDA.

IMPSAT PARTICIPAÇÕES E COMERCIAL LTDA.
 SAC BRASIL HOLDING LTDA.
 SAC BRASIL S.A.

		
	By:	 	 /s/ Joao Leonardo da S.G. Figueira

		 	 Name: Joao Leonardo da S.G. Figueira
 Title: VP Corporate Services

	
	for each of the Guarantors listed above

  
 [Signature
Page to Registration Rights Agreement] 

  
 
			
	 GLOBAL CROSSING CYPRUS HOLDINGS LIMITED
 As a Guarantor

		
	By:	 	 /s/ Qamar Qadeer

		 	 Name: Qamar Qadeer
 Title:
Director

  
 [Signature
Page to Registration Rights Agreement] 

  

			
	Accepted as of the date hereof:
	
	Credit Suisse Securities (USA), LLC
		
	By:	 	 /s/ William Raincsuk

	
	Goldman, Sachs & Co.
		
	By:	 	 /s/ Goldman, Sachs & Co.

		 	(Goldman, Sachs & Co.)
		
		 	On behalf of each of the Purchasers

  
 Exhibit A

 Global Crossing Limited 
 INSTRUCTION TO DTC PARTICIPANTS 
 (Date of Mailing) 

URGENT - IMMEDIATE ATTENTION REQUESTED 
 DEADLINE FOR RESPONSE: [DATE] * 
 The Depository Trust Company (“DTC”) has identified you as a
DTC Participant through which beneficial interests in the Global Crossing Limited (the “Company”) 9% Senior Notes due 2019 (the “Securities”) are held. 
 The Company is in the process of registering the Securities under the Securities Act of 1933 for resale by the beneficial owners thereof. In order to have their Securities included in the registration
statement, beneficial owners must complete and return the enclosed Notice of Registration Statement and Selling Securityholder Questionnaire. 

It is important that beneficial owners of the Securities receive a copy of the enclosed materials as soon as possible as their rights to have the
Securities included in the registration statement depend upon their returning the Notice and Questionnaire by [Deadline For Response]. Please forward a copy of the enclosed documents to each beneficial owner that holds interests in the
Securities through you. If you require more copies of the enclosed materials or have any questions pertaining to this matter, please contact Global Crossing Limited, Wessex House, 45 Reid Street, Hamilton HM12, Bermuda, (441) 296-8600.

  

	*	Not less than 28 calendar days from date of mailing. 

  
 A-1

  
 Global Crossing
Limited 
 Notice of Registration Statement 
 and 
 Selling Securityholder Questionnaire 

(Date) 
 Reference is hereby
made to the Exchange and Registration Rights Agreement (the “Exchange and Registration Rights Agreement”) between Global Crossing Limited (the “Company”) and the Purchasers named therein. Pursuant to the Exchange
and Registration Rights Agreement, the Company has filed or will file with the United States Securities and Exchange Commission (the “Commission”) a registration statement on Form [    ] (the
“Shelf Registration Statement”) for the registration and resale under Rule 415 of the Securities Act of 1933, as amended (the “Securities Act”), of the Company’s 9% Senior Notes due 2019 (the
“Securities”). A copy of the Exchange and Registration Rights Agreement has been filed as an exhibit to the Shelf Registration Statement and can be obtained from the Commission’s website at www.sec.gov. All capitalized
terms not otherwise defined herein shall have the meanings ascribed thereto in the Exchange and Registration Rights Agreement. 
 Each
beneficial owner of Registrable Securities (as defined below) is entitled to have the Registrable Securities beneficially owned by it included in the Shelf Registration Statement. In order to have Registrable Securities included in the Shelf
Registration Statement, this Notice of Registration Statement and Selling Securityholder Questionnaire (“Notice and Questionnaire”) must be completed, executed and delivered to the Company’s counsel at the address set forth
herein for receipt ON OR BEFORE [Deadline for Response]. Beneficial owners of Registrable Securities who do not properly complete, execute and return this Notice and Questionnaire by such date (i) will not be named as selling
securityholders in the Shelf Registration Statement and (ii) may not use the Prospectus forming a part thereof for resales of Registrable Securities. 
 Certain legal consequences arise from being named as a selling securityholder in the Shelf Registration Statement and related Prospectus. Accordingly, holders and beneficial owners of Registrable
Securities are advised to consult their own securities law counsel regarding the consequences of being named or not being named as a selling securityholder in the Shelf Registration Statement and related Prospectus. 

The term “Registrable Securities” is defined in the Exchange and Registration Rights Agreement. 

  
 A-2

  
 ELECTION 

The undersigned holder (the “Selling Securityholder”) of Registrable Securities hereby elects to include in the
Shelf Registration Statement the Registrable Securities beneficially owned by it and listed below in Item (3). The undersigned, by signing and returning this Notice and Questionnaire, agrees to be bound with respect to such Registrable
Securities by the terms and conditions of this Notice and Questionnaire and the Exchange and Registration Rights Agreement, including, without limitation, Section 6 of the Exchange and Registration Rights Agreement, as if the undersigned
Selling Securityholder were an original party thereto.a

 Pursuant to the Exchange and Registration Rights Agreement, the undersigned has agreed to indemnify and hold harmless the Company, its
officers who sign any Shelf Registration Statement, and each person, if any, who controls the Company within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act of 1934, as amended (the
“Exchange Act”), against certain loses arising out of an untrue statement, or the alleged untrue statement, of a material fact in the Shelf Registration Statement or the related prospectus or the omission, or alleged omission, to
state a material fact required to be stated in such Shelf Registration Statement or the related prospectus, but only to the extent such untrue statement or omission, or alleged untrue statement or omission, was made in reliance on and in conformity
with the information provided in this Notice and Questionnaire. 
 Upon any sale of Registrable Securities pursuant to the Shelf Registration
Statement, the Selling Securityholder will be required to deliver to the Company and Trustee the Notice of Transfer set forth in Appendix A to the Prospectus and as Exhibit B to the Exchange and Registration Rights Agreement. 

The Selling Securityholder hereby provides the following information to the Company and represents and warrants that such information is accurate and
complete: 
  
  

	a	 If the Registration Rights Agreement is not distributed with this notice or available on the EDGAR System, insert the text of Section 6(b)
(Selling Securityholder indemnity) here. 

  
 A-3

  
 QUESTIONNAIRE

  

									
	(1)	  	(a)	 	Full legal name of Selling Securityholder:

		  		 	  

			
		  	(b)	 	Full legal name of registered Holder (if not the same as in (a) above) of Registrable Securities listed in Item (3) below:
			
		  		 	  

		  	(c)	 	Full legal name of DTC Participant (if applicable and if not the same as (b) above) through which Registrable Securities listed in Item (3) below are
held:
		  		 	  

		
	(2)	  	Address for notices to Selling Securityholder:
		  		 	  
	  	
		  		 	  
	  	
		  		 	  
	  	
		  		 	Telephone:	  	  
	  	
		  		 	Fax:	  	  
	  	
		  		 	Contact Person:	  	  
	  	
		  		 	E-mail for Contact Person:	  	  
	  	
		
	(3)	  	Beneficial Ownership of Securities:
			
		  		 	Except as set forth below in this Item (3), the undersigned does not beneficially own any Securities.
			
		  	(a)	 	Principal amount of Registrable Securities beneficially owned:
		  		 	  

		  		 	CUSIP No(s). of such Registrable Securities:
		  		 	  

			
		  	(b)	 	Principal amount of Securities other than Registrable Securities beneficially owned:
		  		 	  

		  		 	CUSIP No(s). of such other Securities:
		  		 	  

			
		  	(c)	 	Principal amount of Registrable Securities that the undersigned wishes to be included in the Shelf Registration Statement:
		  		 	  

		  		 	CUSIP No(s). of such Registrable Securities to be included in the Shelf Registration Statement:
		  		 	  

		
	(4)	  	Beneficial Ownership of Other Securities of the Company:
			
		  		 	Except as set forth below in this Item (4), the undersigned Selling Securityholder is not the beneficial or registered owner of any other securities of the
Company, other than the Securities listed above in Item (3).
			
		  		 	State any exceptions here:
		  		 	  

		  		 	  

		  		 	  

  
 A-4

  

					
	(5)	 	Individuals who exercise dispositive powers with respect to the Securities:
			
		 		  	If the Selling Securityholder is not an entity that is required to file reports with the Commission pursuant to Section 13 or 15(d) of the Exchange Act (a “Reporting
Company”), then the Selling Securityholder must disclose the name of the natural person(s) who exercise sole or shared dispositive powers with respect to the Securities. Selling Securityholders should disclose the beneficial holders, not
nominee holders or other such others of record. In addition, the Commission has provided guidance that Rule 13d-3 of the Securities Exchange Act of 1934 should be used by analogy when determining the person or persons sharing voting and/or
dispositive powers with respect to the Securities.
			
		 	(a)	  	Is the holder a Reporting Company?
			
		 		  	Yes                            
                        No                 
                       
			
		 		  	If “No”, please answer Item (5)(b).
			
		 	(b)	  	List below the individual or individuals who exercise dispositive powers with respect to the Securities:
		 		  	  

		 		  	  

		 		  	  

			
		 		  	Please note that the names of the persons listed in (b) above will be included in the Shelf Registration Statement and related Prospectus.
		
	(6)	 	Relationships with the Company:
			
		 		  	Except as set forth below, neither the Selling Securityholder nor any of its affiliates, officers, directors or principal equity holders (5% or more) has held any position or
office or has had any other material relationship with the Company (or its predecessors or affiliates) during the past three years.
			
		 		  	State any exceptions here:
		 		  	  

		 		  	  

		 		  	  

		
	(7)	 	Plan of Distribution:
			
		 		  	Except as set forth below, the undersigned Selling Securityholder intends to distribute the Registrable Securities listed above in Item (3) only as follows (if at all): Such
Registrable Securities may be sold from time to time directly by the undersigned Selling Securityholder. Such Registrable Securities may be sold in one or more transactions at fixed prices, at prevailing market prices at the time of sale, at varying
prices determined at the time of sale, or at negotiated prices. Such sales may be effected in transactions (which may involve crosses or block transactions) (i) on any national securities exchange or quotation service on which the Registered
Securities

  
 A-5

  

					
		  		  	may be listed or quoted at the time of sale, (ii) in the over-the-counter market, (iii) in transactions otherwise than on such exchanges or services or in the over-the-counter
market, or (iv) through the writing of options. In connection with sales of the Registrable Securities or otherwise, the Selling Securityholder may enter into hedging transactions with broker-dealers, which may in turn engage in short sales of the
Registrable Securities in the course of hedging the positions they assume. The Selling Securityholder may also sell Registrable Securities short and deliver Registrable Securities to close out such short positions, or loan or pledge Registrable
Securities to broker-dealers that in turn may sell such securities.
			
		  		  	State any exceptions here:
		  		  	  

		  		  	  

		  		  	  

			
		  		  	Note: In no event may such method(s) of distribution take the form of an underwritten offering of Registrable Securities without the prior written agreement of the
Company.
		
	(8)	  	Broker-Dealers:
			
		  		  	The Commission requires that all Selling Securityholders that are registered broker-dealers or affiliates of registered broker-dealers be so identified in the Shelf
Registration Statement. In addition, the Commission requires that all Selling Securityholders that are registered broker-dealers be named as underwriters in the Shelf Registration Statement and related Prospectus, even if they did not receive the
Registrable Securities as compensation for underwriting activities.
			
		  	(a)	  	State whether the undersigned Selling Securityholder is a registered broker-dealer:
			
		  		  	Yes                            
                        No                 
                       
			
		  	(b)	  	If the answer to (a) is “Yes”, you must answer (i) and (ii) below, and (iii) below if applicable. Your answers to (i) and (ii) below, and (iii) below if
applicable, will be included in the Shelf Registration Statement and related Prospectus.
			
		  		  	(i) Were the Securities acquired as compensation for underwriting activities?
			
		  		  	Yes                            
                        No                 
                       
			
		  		  	If you answered “Yes”, please provide a brief description of the transaction(s) in which the Securities were acquired as compensation:
		  		  	  

		  		  	  

		  		  	  

			
		  		  	(ii) Were the Securities acquired for investment purposes?
			
		  		  	Yes                            
                        No                 
                       
			
		  		  	(iii) If you answered “No” to both (i) and (ii), please explain the Selling Securityholder’s reason for acquiring the Securities:
			
		  		  	  

		  		  	  

		  		  	  

  
 A-6

  

					
		  	(c)	  	State whether the undersigned Selling Securityholder is an affiliate of a registered broker-dealer and, if so, list the name(s) of the broker-dealer
affiliate(s):
			
		  		  	Yes                            
                        No                 
                       
		  		  	  

		  		  	  

		  		  	  

			
		  	(d)	  	If you answered “Yes” to question (c) above:
			
		  		  	(i) Did the undersigned Selling Securityholder purchase Registrable Securities in the ordinary course of business?
			
		  		  	Yes                            
                        No                 
                       
			
		  		  	If the answer is “No” to question (d)(i), provide a brief explanation of the circumstances in which the Selling Securityholder acquired the Registrable
Securities:
		  		  	  

		  		  	  

		  		  	  

			
		  		  	(ii) At the time of the purchase of the Registrable Securities, did the undersigned Selling Securityholder have any agreements, understandings or arrangements, directly or
indirectly, with any person to dispose of or distribute the Registrable Securities?
			
		  		  	Yes                            
                        No                 
                       
			
		  		  	If the answer is “Yes” to question (d)(ii), provide a brief explanation of such agreements, understandings or arrangements:
		  		  	  

		  		  	  

		  		  	  

			
		  		  	If the answer is “No” to Item (8)(d)(i) or “Yes” to Item (8)(d)(ii), you will be named as an underwriter in the Shelf Registration Statement and the
related Prospectus.
		
	(9)	  	Hedging and short sales:
			
		  	(a)	  	State whether the undersigned Selling Securityholder has or will enter into “hedging transactions” with respect to the Registrable Securities:
			
		  		  	Yes                            
                        No                 
                       
			
		  		  	If “Yes”, provide below a complete description of the hedging transactions into which the undersigned Selling Securityholder has entered or will enter and the purpose
of such hedging transactions, including the extent to which such hedging transactions remain in place:
		  		  	  

		  		  	  

		  		  	  

  
 A-7

  

					
		 	(b)	  	Set forth below is Section 239.10 of the Commission’s Compliance & Disclosure Interpretations of the Securities Act (last updated August 11, 2010) regarding short
selling:
			
		 		  	“An issuer filed a Form S-3 registration statement for a secondary offering of common stock which is not yet effective. One of the selling shareholders wanted to do a
short sale of common stock “against the box” and cover the short sale with registered shares after the effective date. The issuer was advised that the short sale could not be made before the registration statement becomes effective,
because the shares underlying the short sale are deemed to be sold at the time such sale is made. There would, therefore, be a violation of Section 5 if the shares were effectively sold prior to the effective date.”
			
		 		  	By returning this Notice and Questionnaire, the undersigned Selling Securityholder will be deemed to be aware of the foregoing interpretation.

*        *        *      
  *        * 
 By signing below, the Selling Securityholder acknowledges that it understands
its obligation to comply, and agrees that it will comply, with the provisions of the Exchange Act, particularly Regulation M (or any successor rule or regulation). 
 The Selling Securityholder hereby acknowledges its obligations under the Exchange and Registration Rights Agreement to indemnify and hold harmless the Company and certain other persons as set forth in the
Exchange and Registration Rights Agreement. 
 In the event that the Selling Securityholder transfers all or any portion of the Registrable
Securities listed in Item (3) above after the date on which such information is provided to the Company, the Selling Securityholder agrees to notify the transferee(s) at the time of the transfer of its rights and obligations under this Notice
and Questionnaire and the Exchange and Registration Rights Agreement. 
 By signing below, the Selling Securityholder consents to the disclosure
of the information contained herein in its answers to Items (1) through (9) above and the inclusion of such information in the Shelf Registration Statement and related Prospectus. The Selling Securityholder understands that such
information will be relied upon by the Company in connection with the preparation of the Shelf Registration Statement and related Prospectus. 

In accordance with the Selling Securityholder’s obligation under Section 3(d) of the Exchange and Registration Rights Agreement to provide such
information as may be required by law for inclusion in the Shelf Registration Statement, the Selling Securityholder agrees to promptly notify the Company of any inaccuracies or changes in the information provided herein which may occur subsequent to
the date hereof at any time while the Shelf Registration Statement 

  
 A-8

 
remains in effect and to provide such additional information that the Company may reasonably request regarding such Selling Securityholder and the intended method of distribution of Registrable
Securities in order to comply with the Securities Act. Except as otherwise provided in the Exchange and Registration Rights Agreement, all notices hereunder and pursuant to the Exchange and Registration Rights Agreement shall be made in writing, by
hand-delivery, first-class mail, or air courier guaranteeing overnight delivery as follows: 
  

									
		  	(i)	  	To the Company:	  		  	
		  		  		  	  
	  	
		  		  		  	  
	  	
		  		  		  	  
	  	
		  		  		  	  
	  	
		  		  		  	  
	  	
					
		  	(ii)	  	With a copy to:	  		  	
		  		  		  	  
	  	
		  		  		  	  
	  	
		  		  		  	  
	  	
		  		  		  	  
	  	
		  		  		  	  
	  	

 Once this Notice and Questionnaire is executed by the Selling Securityholder and received by the Company’s
counsel, the terms of this Notice and Questionnaire, and the representations and warranties contained herein, shall be binding on, shall inure to the benefit of and shall be enforceable by the respective successors, heirs, personal representatives,
and assigns of the Company and the Selling Securityholder (with respect to the Registrable Securities beneficially owned by such Selling Securityholder and listed in Item (3) above. This Notice and Questionnaire shall be governed in all
respects by the laws of the State of New York. 

  
 A-9

  
 IN WITNESS WHEREOF, the undersigned,
by authority duly given, has caused this Notice and Questionnaire to be executed and delivered either in person or by its duly authorized agent. 
 Dated:                                
           
  

					
		 	  

		 	Selling Securityholder
		 	(Print/type full legal name of beneficial owner of Registrable Securities)
			
		 	By:	 	  

		 	Name:
		 	Title:

 PLEASE RETURN THE COMPLETED AND EXECUTED
NOTICE AND QUESTIONNAIRE FOR RECEIPT ON OR BEFORE [DEADLINE FOR RESPONSE] TO THE COMPANY’S COUNSEL AT: 
  

					
		  	  
	  	
		  	  
	  	
		  	  
	  	
		  	  
	  	
		  	  
	  	

  
 A-10

  
 Exhibit B

 NOTICE OF TRANSFER PURSUANT TO REGISTRATION STATEMENT 
 Wilmington Trust FSB 
 Global Crossing Limited 

c/o Wilmington Trust FSB 
 CCS-Corporate Capital
Markets 
 50 South Sixth Street, Suite 1290 
 Minneapolis, MN 55402-1544 
 Attention: Trust Officer 

 

	 	Re:	Global Crossing Limited (the “Company”) 

 9% Senior Notes due 2019 
 Dear Sirs: 
 Please be advised that
                                        
has transferred $                                 aggregate principal amount of
the above-referenced Notes pursuant to an effective Registration Statement on Form [    ] (File No. 333-             ) filed by
the Company. 
 We hereby certify that the prospectus delivery requirements, if any, of the Securities Act of 1933, as amended, have been
satisfied and that the above-named beneficial owner of the Notes is named as a “Selling Holder” in the Prospectus dated [date] or in supplements thereto, and that the aggregate principal amount of the Notes transferred are the Notes
listed in such Prospectus opposite such owner’s name. 
 Dated: 

 

			
	Very truly yours,
		
		 	  

		 	(Name)
		
	By:	 	  

		 	(Authorized Signature)Form of Amended and Restated Services Agreement

 EXHIBIT 4.46 
 [FORM OF AMENDED AND RESTATED SERVICES AGREEMENT] 
 THIS AMENDED AND
RESTATED SERVICES AGREEMENT is entered into as of November [    ], 2010, by and among Harrah’s Entertainment, Inc., a Delaware corporation (to be renamed Caesars Entertainment Corporation) (the
“Company”), Apollo Management VI, L.P., on behalf of affiliated investment funds (“Apollo Management”), Apollo Alternative Assets, L.P. (“Apollo Alternative,” and, together with Apollo Management,
“Apollo”) and TPG Capital, L.P. (“TPG,” and, together with Apollo, the “Managers”). 
 WHEREAS, pursuant to an Agreement and Plan of Merger, dated as of December 19, 2006, by and among Hamlet Holdings LLC, a Delaware limited liability company, Hamlet Merger Inc., a Delaware corporation
and a wholly owned subsidiary of Hamlet Holdings LLC, and the Company (as amended, the “Merger Agreement”), Hamlet Merger Inc. was merged with and into the Company (the “Merger”) with the Company surviving such
merger; 
 WHEREAS, certain investment funds affiliated with Apollo and TPG previously made equity investments in the Company in
connection with the Merger; 
 WHEREAS, the Company previously retained the Managers to provide certain management and advisory
services to the Company, and the Managers agreed to provide such services, pursuant to that certain Services Agreement, dated as of January 28, 2008 (the “Original Agreement”); and 

WHEREAS, the Company and the Managers now wish to amend and restate the Original Agreement in its entirety as set forth herein (the
Original Agreement as amended and restated hereby, the “Agreement”). 
 NOW, THEREFORE, in consideration of the
mutual covenants contained herein, the parties hereto, intending to be legally bound, hereby agree as follows: 
 1. Services. Each
Manager hereby severally agrees that, during the term of this Agreement (the “Term”), it will provide to the Company, to the extent requested by the Company and mutually agreed by the Company and each Manager, by and through itself
and/or such Manager’s successors, assigns, affiliates, officers, partners, directors, employees, agents and/or representatives and third parties (collectively hereinafter referred to as the “Manager Designees”), as such Manager
in its sole discretion may designate from time to time, management, advisory and consulting services in relation to the affairs of the Company; provided that the responsibilities of one Manager shall not be substantially disproportionate to
the responsibilities of any other Manager. The Company shall request such services by way of written notice to the Managers, which notice shall specify the services required of the Managers and shall include all background material necessary for the
Managers to complete such services. Such management, advisory and consulting services shall include, without limitation: 
 (a)
advice in connection with the negotiation and consummation of agreements, contracts, documents and instruments necessary to provide the Company with financing on terms and conditions satisfactory to the Company and its respective subsidiaries;

 (b) advice in connection with acquisition, disposition and change of control transactions involving the Company or its
subsidiaries; 
 (c) financial, managerial and operational advice in connection with operations, including, without limitation,
advice with respect to the development and implementation of strategies for improving the operating, marketing and financial performance of the Company or its subsidiaries; and 

 (d) such other services (which may include financial and strategic planning and analysis,
consulting services, human resources and executive recruitment services and other services) as the Managers and the Company may from time to time agree in writing. 
 The Managers or the Manager Designees will devote such time and efforts to the performance of the services contemplated hereby as the Managers deem reasonably necessary or appropriate; provided,
however, that no minimum number of hours is required to be devoted by the Managers or the Manager Designees on a weekly, monthly, annual or other basis. The Company acknowledges that each of the services are not exclusive to the Company or
its subsidiaries and that the Managers and the Manager Designees may render similar services to other persons and entities. The Managers and the Company understand that the Company or its subsidiaries or affiliates (other than the Managers or their
affiliates) may at times engage one or more financial advisor, consultant, investment bankers or financial advisers or similar agents to provide services in addition to, but not in lieu of, services provided by the Managers and the Manager Designees
under this Agreement. In providing services to the Company or its subsidiaries, the Managers and Manager Designees will act as independent contractors and it is expressly understood and agreed that this Agreement is not intended to create, and does
not create, any partnership, agency, joint venture or similar relationship and that no party has the right or ability to contract for or on behalf of any other party or to effect any transaction for the account of any other party. 

2. Payment of Fees. 
 (a)
As consideration to the Managers for their agreement to render the services in Section 1, on the date of effectiveness of the Original Agreement (the “Original Agreement Date”), the Company paid to the Managers (or their
respective Manager Designees) an aggregate transaction fee equal to $200,000,000 (two hundred million dollars) (the “Transaction Fee”). The Transaction Fee was divided among the Managers as follows: (i) Apollo or its designee
was entitled to 50% and (ii) TPG or its designee was entitled to 50%. Neither Manager nor any of their respective affiliates was or is to be paid any separate fee in connection with the Merger other than the fees contemplated by this Agreement.
In addition to the Transaction Fee, on the Original Agreement Date, the Company paid to the Managers (or their respective Manager Designees), upon obtaining the unanimous consent of the Managers as to the amounts to be paid, an amount equal to all
out-of pocket expenses incurred by or on behalf of Hamlet Holdings LLC and each Manager or their respective affiliates, including, without limitation, (i) the reasonable fees, expenses and disbursements of lawyers, accountants, consultants and
other advisors that may have been retained by the Company and/or any Manager or its affiliates and (ii) any fees (including any financing fees) related to the Merger (all such fees and expenses, in the aggregate, the “Covered
Costs”). 
 (b) During the Term, the Company will pay to the Managers (or their respective Manager Designees) an annual
monitoring fee equal to the greater of (x) $30 million and (y) 1.0% (one percent) of the Company’s EBITDA (as defined below) (the “Monitoring Fee”) as compensation for the services provided by the Managers or the
Manager Designees under this Agreement, with such fee being payable by the Company (including the method and timing of payment) as reasonably determined and mutually agreed to by Apollo, TPG and the Company; provided that, notwithstanding the
foregoing, for each calendar year beginning on January 1, 2012 and thereafter throughout the Term, that portion of each annual Monitoring Fee in excess of the greater of (x) $15 million and (y) 0.5% (one-half of one percent) of the
Company’s EBITDA (as defined below) (such excess, the “Deferred IPO Fees”) shall not be currently paid but shall be deferred and shall be subject to payment as set forth in Section 4(b) below (and provided that this
Agreement shall not have been terminated by the Company due to a material breach by the Managers following notice and opportunity to cure, or by the Managers as set forth in the proviso to Section 4(a)); provided, further,
that the Managers or Manager Designees may, with the unanimous consent of the Managers, pay, or cause the Company to pay, any portion of the Monitoring Fee (other 

  
 2 

 
than Deferred IPO Fees) to any third-party in respect of services provided from time to time by such third party to the Company. In addition to the foregoing, the Managers or Manager Designees
retain the right to defer any other portion of the Monitoring Fee without waiving the right to receive such payment at a future date. For purposes of calculating the Monitoring Fee, “EBITDA” shall have the meaning set forth in the
credit agreement, dated January 28, 2008, by and among the Company and the other parties thereto (as amended from time to time, the “Credit Agreement”), as applied to the Company and its Subsidiaries on a consolidated
basis.” 
 (c) During the Term, in addition to the fees paid pursuant to Section 2(b), the Company will pay to the
Managers (or their respective Manager Designees) an aggregate fee (the “Subsequent Fee”) in connection with the consummation of any financing or refinancing (equity or debt), dividend, recapitalization, acquisition, disposition,
spin-off or split-off transactions involving the Company or any of its direct or indirect subsidiaries equal to customary fees charged by internationally-recognized investment banks for serving as a financial advisor in similar transactions, such
fee to be due and payable for the foregoing services at the closing of such transaction. 
 (d) Each payment made pursuant to
this Section 2 shall be paid by wire transfer of immediately available federal funds to such respective account(s) as the Managers may specify to the Company in writing prior to such payment. Each payment made pursuant to this Section 2
(other than the Covered Costs) shall be allocated among the Managers (or their respective Manager Designees) as follows: (i) Apollo will be entitled to 50%; and (ii) TPG will be entitled to 50%; provided that such allocation shall
be adjusted on the date on which payment is due under this Section 2 to reflect any transfers of Company Shares (as defined in the Stockholders’ Agreement) owned by the Sponsor (as defined in the Stockholders’ Agreement) affiliated
with a Manager and following the date hereof (such Manager, a “Transferring Manager”), other than (x) transfers to affiliates of such Transferring Manager or (y) pro rata transfers by both Sponsors (such
allocation, as adjusted from time to time, the “Allocation Percentage”). For the avoidance of doubt, upon a transfer giving rise to an adjustment pursuant to the preceding sentence (i) the Transferring Manager’s Allocation
Percentage shall be equal to (x) the number of Company Shares held by the Sponsor affiliated with such Transferring Manager after giving effect to the transfer over (y) the total number of Company Shares held by both Sponsors after giving
effect to such transfer, and (ii) the Allocation Percentage of the non-Transferring Manager shall be equal to 100% minus the Transferring Manager’s Allocation Percentage determined in clause (i) above. 

(e) Each payment made to a Manager pursuant to this Section 2 shall be received in respect of the Affiliates of such Manager
investing in the Company as provided by such Manager in writing to the Company prior to such payment. 
 3. Deferral. Subject to
Sections 2(b) and 4(b) with respect to the deferrals set forth therein, in the event that any financing or similar agreements to which the Company is a party and that have been approved by both Sponsors in accordance with the
Stockholders’ Agreement (the “Financing Documents”) restrict the payment of all or any portion of any fee payable to the Managers (or their respective Manager Designees) pursuant to Section 2 above for any payment period
(such restricted fees, the “Deferred Fees”), the amount of fees paid to each Manager and Manager Designee in such period will be reduced pro rata (based on aggregate fees payable to each such Manager or their
respective Manager Designee), and any Deferred Fees will accrue in the immediately succeeding period in which such amounts could, consistent with the Financing Documents, be paid, and will be paid in such succeeding period (in addition to such other
amounts that would otherwise be payable at such time) in the manner set forth in Section 2. 

  
 3 

 4. Term. 
 (a) Term. This Agreement will continue in full force and effect until March 31, 2018 (the “Initial Term”); provided, that this Agreement may be terminated at any time
upon unanimous consent of the Managers. 
 (b) Certain Termination and/or Payment Events. On the earlier to occur (such
date, the “Deferred IPO Fees Payment Date”) of (x) the expiration of the Initial Term, (y) the Majority Date (as defined below) and (z) a Sale (as defined below), unless otherwise agreed by both Managers in the case
of clause (y) or (z), the Company shall pay to each Manager (or their respective Manager Designees), via wire transfer of immediately available funds, and otherwise pursuant to Section 2(d), a lump-sum amount equal to the
(i) aggregate Deferred IPO Fees plus (ii) Remaining Payment Amount (as defined below). If both Managers agree to not require payment by the Company under this Section 4(b) with respect to a Majority Date or Sale, then this
Agreement shall continue until the expiration of the Initial Term, at which point the Company shall be required to make the payment described in the foregoing sentence. Upon a payment pursuant to the foregoing clauses (x), (y) or (z), and in
consideration therefor, each of the Company, Apollo and TPG shall be released from any and all obligations and liabilities with respect to provision of the management, advisory and consulting services pursuant to this Agreement and payment of the
Transaction Fee, the Monitoring Fee, the Subsequent Fee or any other fees pursuant to this Agreement (other than any unreimbursed expenses of Apollo or TPG owing and payable pursuant to Section 5(a)), and this Agreement, other than
Section 4 through Section 14, shall terminate automatically and without any further action by the Company or Apollo or TPG and shall have no further force or effect. In the event of a Sale that includes non-cash
consideration, each Manager may elect for it or its Manager Designees to receive all or any portion of any amounts payable pursuant to this Agreement as a result of such Sale in the form of such non-cash consideration, valued at the sale price.

 (c) Certain Definitions. As used herein: 

“Majority Date” means the later of the date on which (i) the number of Company Shares (as defined
in the Stockholders’ Agreement) owned in the aggregate by the Managers and/or any affiliate of either Manager (but not, for the avoidance of doubt, the Company Shares owned by any person or entity that is an affiliate of both Managers) is
reduced to less than 50% (equitably adjusted for any stock splits, recapitalizations or similar transactions) of the number of Company Shares owned in the aggregate by the Managers and/or any affiliate of either Manager (but not, for the avoidance
of doubt, the Company Shares owned by any person or entity that is an affiliate of both Managers) immediately following the first Initial Public Offering (as defined in the Stockholders’ Agreement) and (ii) the Financing Documents permit
the payment of the amounts set forth in Section 4(b). 
 “Remaining Payment Amount” means a
lump-sum amount equal to the net present value of the remaining Transaction Fee (if any), the Monitoring Fee, the Subsequent Fee or any other fees pursuant to this Agreement owing and payable by the Company to such Manager (or its Manager Designees)
from (i) in the case of a Deferred IPO Fees Payment Date resulting from a Sale, the date of such Sale or (ii) in the case of a Deferred IPO Fees Payment Date resulting other than from a Sale, such date, in each case until the expiration of
the Initial Term (which amount shall be determined using an annual discount rate equal to the then-current rate of interest on the Company’s revolving credit facility, and assuming that EBITDA would have grown at a rate equal to the greater of
(x) 6%, compounded annually and (y) the compounded annual EBITDA growth rate for the last two completed fiscal years). 
 “Sale” means a transfer or issuance of equity securities of the Company (including by way of a merger, consolidation, amalgamation, share exchange or other form of similar business
combination), in a single or series of related transactions, resulting in a Person or Persons other than the stockholders of the Company as of immediately prior to effectiveness of the first Initial Public Offering (as defined in the
Stockholders’ Agreement) owning, directly or indirectly, a majority of the voting power of the Company, upon the consummation of such transfer or issuance, or the sale of all or substantially all of the assets of the Company.” 

  
 4 

 5. Expenses; Indemnification. 

(a) Expenses. The Company will pay to the Managers (or their respective Manager Designees) on demand all Reimbursable Expenses
whether incurred prior to or following the Original Agreement Date. As used herein, “Reimbursable Expenses” means (i) all out-of-pocket expenses incurred following the consummation of the Merger relating to the services
provided by the Managers, their respective affiliates, or the Manager Designees to the Company or any of its affiliates from time to time (including, without limitation, all air travel (by first class on a commercial airline or by charter, as
determined by the Managers or the Manager Designees) and other travel related expenses), (ii) all out-of-pocket legal expenses incurred by the Managers, their respective affiliates or the Manager Designees in connection with the enforcement of
rights or taking of actions under this Agreement, the Merger Agreement or any related documents or instruments, whether incurred prior to or following the Original Agreement Date, and (iii) all expenses incurred by the Managers, their
respective affiliates or the Manager Designees which are properly allocable to the Company, including in connection with their management and operations, whether incurred prior to or following the Original Agreement Date. 

(b) Indemnity and Liability. The Company will indemnify, exonerate and hold the Managers, the Manager Designees and each of their
respective partners, shareholders, members, affiliates, associated investment funds, directors, officers, fiduciaries, managers, controlling persons, employees and agents and each of the partners, shareholders, members, affiliates, associated
investment funds, directors, officers, fiduciaries, managers, controlling persons, employees and agents of each of the foregoing (collectively, the “Indemnitees”) free and harmless from and against any and all actions, causes of
action, suits, claims, liabilities, losses, damages and costs and out-of-pocket expenses in connection therewith (including attorneys’ fees and expenses) incurred by the Indemnitees or any of them before or after the Original Agreement Date
(collectively, the “Indemnified Liabilities”), arising out of any action, cause of action, suit, arbitration, investigation or claim arising out of, or in any way relating to (i) this Agreement, the Merger Agreement, any
transaction to which the Company is a party or any other circumstances with respect to the Company or (ii) operations of, or services provided by the Managers or the Manager Designees to, the Company, or any of their respective affiliates from
time to time; provided that the foregoing indemnification rights will not be available to the extent that any such Indemnified Liabilities arose on account of such Indemnitee’s willful misconduct; and provided, further,
that if and to the extent that the foregoing undertaking may be unavailable or unenforceable for any reason, the Company hereby agrees to make the maximum contribution to the payment and satisfaction of each of the Indemnified Liabilities which is
permissible under applicable law. For purposes of this Section 5(b), none of the circumstances described in the limitations contained in the two provisos in the immediately preceding sentence will be deemed to apply absent a final
non-appealable judgment of a court of competent jurisdiction to such effect, in which case to the extent any such limitation is so determined to apply to any Indemnitee as to any previously advanced indemnity payments made by the Company, then such
payments will be promptly repaid by such Indemnitee to the Company without interest. The rights of any Indemnitee to indemnification hereunder will be in addition to any other rights any such person may have under any other agreement or instrument
referenced above or any other agreement or instrument to which such Indemnitee is or becomes a party or is or otherwise becomes a beneficiary or under law or regulation. 

  
 5 

 6. Disclaimer and Limitation of Liability; Opportunities. 

(a) Disclaimer; Standard of Care. None of the Managers nor any of their respective Manager Designees makes any representations or
warranties, express or implied, in respect of the services to be provided by the Managers or the Manager Designees hereunder. In no event will the Managers, the Manager Designees or Indemnitees be liable to the Company or any of its affiliates for
any act, alleged act, omission or alleged omission that does not constitute willful misconduct of the Managers or the Manager Designees as determined by a final, non-appealable determination of a court of competent jurisdiction. 

(b) Freedom to Pursue Opportunities. In recognition that the Managers, the Manager Designees and their respective Indemnitees
currently have, and will in the future have or will consider acquiring, investments in numerous companies with respect to which the Managers, the Manager Designees or their respective Indemnitees may serve as an advisor, a director or in some other
capacity, and in recognition that each Manager, each Manager Designee and their respective Indemnitees have myriad duties to various investors and partners, and in anticipation that the Company on the one hand and each Manager and Manager Designee
(or one or more of their respective Indemnitees or portfolio companies), on the other hand, may engage in the same or similar activities or lines of business and have an interest in the same areas of corporate opportunities, and in recognition of
the benefits to be derived by the Company hereunder and in recognition of the difficulties which may confront any advisor who desires and endeavors fully to satisfy such advisor’s duties in determining the full scope of such duties in any
particular situation, the provisions of this Section 6(b) are set forth to regulate, define and guide the conduct of certain affairs of the Company as they may involve the Managers, the Manager Designees or their respective Indemnitees. Except
as the Managers or the Manager Designees, may otherwise agree in writing after the date hereof: 
  

	 	(i)	The Managers, the Manager Designees and their respective Indemnitees will have the right: (A) to directly or indirectly engage in any business (including, without
limitation, any business activities or lines of business that are the same as or similar to those pursued by, or competitive with, the Company and its subsidiaries), (B) to directly or indirectly do business with any client or customer of the
Company or its subsidiaries, (C) to take any other action that a Manager or a Manager Designee believes in good faith is necessary to or appropriate to fulfill its obligations as described in the first sentence of this Section 6(b),
(D) not to communicate or present potential transactions, matters or business opportunities to the Company or any of its subsidiaries, and to pursue, directly or indirectly, any such opportunity for itself, and to direct any such opportunity to
another Person, and (E) to take any other action permitted pursuant to Section 6.02 of the Stockholders’ Agreement or Article X of the second amended and restated certificate of incorporation of the Company. 

 

	 	(ii)	Except as provided in Section 6(a), none of the Managers, the Manager Designees nor any of their respective Indemnitees will be liable to the Company or any of its
affiliates for breach of any duty (contractual or otherwise) by reason of any activities or omissions of the types referred to in this Section 6(b) or of any such Person’s participation therein. 

(c) Limitation of Liability. In no event will a Manager, a Manager Designee or any of their respective Indemnitees be liable to
the Company or any of its affiliates for any indirect, special, incidental or consequential damages, including, without limitation, lost profits or savings, whether or not such damages are foreseeable, or for any third party claims (whether based in
contract, tort or otherwise), relating to the services to be provided by a Manager or a Manager Designee hereunder. 
 7. Assignment,
etc. Except as provided below, none of the parties hereto will have the right to assign this Agreement without the prior written consent of each of the other parties. Notwithstanding the foregoing, (a) each Manager may assign all or part of
its rights and obligations hereunder to any of its respective affiliates that provides services similar to those called for by this Agreement, in which event 

  
 6 

 
such Manager will no longer be entitled to any fees under Section 2 and reimbursement of expenses under Section 2(a) and Section 5(a) and will be released of all of its obligations
hereunder and (b) the provisions hereof for the benefit of Indemnitees of the Managers will inure to the benefit of such Indemnitees and their successors and assigns. 
 8. Amendments and Waivers. No amendment or waiver of any term, provision or condition of this Agreement will be effective, unless given in writing by both Managers and executed by the Company;
provided that any Manager may waive any portion of any fee to which it is entitled pursuant to this Agreement, and, unless otherwise directed by the Manager, such waived portion will revert to the Company. No waiver on any one occasion will
extend to or effect or be construed as a waiver of any right or remedy on any future occasion. No course of dealing of any person nor any delay or omission in exercising any right or remedy will constitute an amendment of this Agreement or a waiver
of any right or remedy of any party hereto. 
 9. Governing Law; Jurisdiction. THIS AGREEMENT SHALL BE GOVERNED AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE, WITHOUT REGARD TO THE CONFLICTS OF LAW PRINCIPLES THEREOF. ANY ACTION OR PROCEEDING AGAINST THE PARTIES RELATING IN ANY WAY TO THIS AGREEMENT MAY BE BROUGHT AND ENFORCED EXCLUSIVELY IN THE COURTS OF
THE STATE OF DELAWARE OR (TO THE EXTENT SUBJECT MATTER JURISDICTION EXISTS THEREFOR) THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK SITTING IN MANHATTAN, AND THE PARTIES IRREVOCABLY SUBMIT TO THE JURISDICTION OF BOTH SUCH
COURTS IN RESPECT OF ANY SUCH ACTION OR PROCEEDING. 
 10. WAIVER OF JURY TRIAL. BECAUSE DISPUTES ARISING IN CONNECTION WITH COMPLEX
FINANCIAL TRANSACTIONS ARE MOST QUICKLY AND ECONOMICALLY RESOLVED BY AN EXPERIENCED AND EXPERT PERSON AND THE PARTIES WISH APPLICABLE STATE AND FEDERAL LAWS TO APPLY (RATHER THAN ARBITRATION RULES), THE PARTIES DESIRE THAT THEIR DISPUTES BE RESOLVED
BY A JUDGE, APPLYING SUCH APPLICABLE LAWS. THEREFORE, TO ACHIEVE THE BEST COMBINATION OF THE BENEFITS OF THE JUDICIAL SYSTEM, THE PARTIES HERETO WAIVE ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, SUIT OR PROCEEDING BROUGHT TO ENFORCE OR DEFEND ANY
RIGHT OR REMEDIES UNDER THIS AGREEMENT OR ANY DOCUMENTS ENTERED INTO IN CONNECTION WITH THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED HEREIN. The Company or any Manager may file an original counterpart or a copy of this Section 10 with any
court as written evidence of the consent of the parties to the waiver of their rights to trial by jury. 
 11. Entire Agreement. This
Agreement contains the entire understanding of the parties with respect to the subject matter hereof and supersedes any prior communication or agreement, including the Original Agreement, with respect thereto. 

12. Notice. Unless otherwise specified herein, all notices, consents, approvals, reports, designations, requests, waivers, elections and other
communications authorized or required to be given pursuant to this Agreement shall be in writing and shall be given or made (and shall be deemed to have been duly given or made upon receipt) by personal hand-delivery, by facsimile transmission, by
electronic mail, by mailing the same in a sealed envelope, registered first-class mail, postage prepaid, return receipt requested, or by air courier guaranteeing overnight delivery, sent to the Managers at the following addresses (or such other
address as such Managers may specify by notice to the Company: 

  
 7 

 If to the Company (with a copy, which shall not constitute notice, to Apollo and TPG), to:

 One Caesars Palace Drive 
 Las Vegas, NV 89109 
 Attention:  General Counsel 

Facsimile:  702.407.6418 
 and 
 O’Melveny & Myers LLP 

Times Square Tower 
 7 Times Square 
 New York, NY 10036 

Attention: John Scott, Esq. 
 Telephone: 212.326.2000 
 Facsimile: 212.326.2061 

with a copy to each of (which shall not constitute notice): 
 Cleary Gottlieb Steen & Hamilton LLP 
 One Liberty Plaza 

New York, NY 10006 
 Attention: Paul J. Shim, Esq. 
 Telephone: 212.225.2930 

Facsimile: 212.225.3999 
 and 
 Wachtell, Lipton, Rosen & Katz 

51 West 52nd Street 
 New York, New York 10019 
 Attention:  Steven A. Cohen, Esq. 

                     Gregory E.
Ostling, Esq. 
 Telephone: 212.403.1000 
 Facsimile:  212.403.2000 
 If to Apollo Management, to: 

Apollo Management VI, L.P. 
 9 West 57th Street 
 New York, NY 10019 

Attention:  Eric L. Press 
 Facsimile:  212.515.3288 
 with a copy (which shall not constitute
notice) to: 
 Wachtell, Lipton, Rosen & Katz 
 51 West 52nd Street 
 New York, NY 10019 

Attention:  Steven A. Cohen, Esq. 
                      Gregory E. Ostling, Esq. 

Facsimile:  212.403.2364 

  
 8 

 If to Apollo Alternative, to: 

Apollo Alternative Assets, L.P. 
 c/o Apollo Management VI, L.P. 
 9 West 57th Street 

New York, NY 10019 
 Attention:  Eric L. Press 
 Facsimile:  212.515.3288 

with a copy (which shall not constitute notice) to: 
 Wachtell, Lipton, Rosen & Katz 
 51 West 52nd Street 

New York, NY 10019 
 Attention:  Steven A. Cohen, Esq. 

                     Gregory E.
Ostling, Esq. 
 Facsimile:  212.403.2364 
 If to TPG, to: 
 TPG Capital, L.P. 

301 Commerce Street 
 Suite 3300 
 Fort Worth, Texas 76102 

Attention:  Clive D. Bode 
 Facsimile:  817.871.4088 
 with a copy (which shall not constitute
notice) to: 
 Cleary Gottlieb Steen & Hamilton LLP 

One Liberty Plaza 

New York, NY 10006 
 Attention:  Paul J. Shim, Esq. 
 Facsimile:  212.225.3999

 13. Severability. If any provision of this Agreement shall be held to be invalid, illegal or unenforceable, the validity, legality and
enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

  
 9 

 14. Counterparts. This Agreement may be executed in any number of counterparts, each of which shall
be deemed an original, but all of which shall constitute one and the same instrument. 
 [Remainder of Page Intentionally Left
Blank] 

  
 10 

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

			
	HARRAH’S ENTERTAINMENT, INC.
		
	By:	 	  

		 	Name:
		 	Title:
	
	 APOLLO MANAGEMENT VI, L.P.
 on behalf of affiliated investment funds

		
	By:	 	   AIF VI Management, LLC,
   its general partner

		
	By:	 	  

		 	Name:
		 	Title:
	
	APOLLO ALTERNATIVE ASSETS, L.P.
		
	By:	 	   Apollo Alternative Assets GP Limited,
   its general partner

		
	By:	 	  

		 	Name:
		 	Title:
	
	TPG CAPITAL, L.P.
		
	By:	 	  Tarrant Capital, LLC, its general partner
		
	By:	 	  

		 	Name:
		 	Title:

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