Document:

<![CDATA[Amended & Restated Stockholders Agreement]]>

 Exhibit 10.10 
 AMENDED AND RESTATED STOCKHOLDERS AGREEMENT 
 by and among 

Giraffe Holding, Inc., 
 Giraffe Intermediate A, Inc., 
 Giraffe Intermediate B, Inc., 

The Gymboree Corporation 
 and 
 the Investors, Other Investors and Managers Named Herein 

Entered into on December 23, 2011 

 TABLE OF CONTENTS 

 

									
	 	 	 	  	Page	 
			
	 ARTICLE I.
	 	 EFFECTIVENESS; DEFINITIONS.
	  	 	2	  
	 1.1.
	 	 Effectiveness.
	  	 	2	  
	 1.2.
	 	 Definitions.
	  	 	2	  
	 ARTICLE II.
	 	 VOTING AGREEMENT.
	  	 	2	  
	 2.1.
	 	 Election of Directors.
	  	 	2	  
	 2.2.
	 	 Significant Transactions.
	  	 	2	  
	 2.3.
	 	 Consent to Amendment.
	  	 	2	  
	 2.4.
	 	 Grant of Proxy.
	  	 	3	  
	 2.5.
	 	 The Company.
	  	 	3	  
	 2.6.
	 	 Period.
	  	 	3	  
	 ARTICLE III.
	 	 TRANSFER RESTRICTIONS.
	  	 	3	  
	 3.1.
	 	 Permitted Transferees.
	  	 	3	  
	 3.2.
	 	 Tag Alongs, Drag Alongs, Etc.
	  	 	4	  
	 3.3.
	 	 Transfers Pursuant to Section 5; Transfers to the Company.
	  	 	5	  
	 3.5.
	 	 Impermissible Transfer.
	  	 	5	  
	 3.6.
	 	 Period.
	  	 	5	  
	 3.7.
	 	 Transfers of Options.
	  	 	6	  
	 ARTICLE IV.
	 	 INVESTOR TRANSFER RIGHTS; “TAG ALONG” AND “DRAG ALONG” RIGHTS.
	  	 	6	  
	 4.1.
	 	 Tag Along.
	  	 	6	  
	 4.2.
	 	 Drag Along.
	  	 	9	  
	 4.3.
	 	 Exercise.
	  	 	9	  
	 4.4.
	 	 Miscellaneous.
	  	 	10	  
	 4.5.
	 	 Period.
	  	 	12	  
	 ARTICLE V.
	 	 OPTIONS TO PURCHASE MANAGEMENT SHARES.
	  	 	12	  
	 5.1.
	 	 Call Options.
	  	 	12	  
	 5.2.
	 	 Closing.
	  	 	14	  
	 5.3.
	 	 Form of Payment.
	  	 	15	  
	 5.4.
	 	 Investor Call Option.
	  	 	16	  
	 5.5.
	 	 Acknowledgment.
	  	 	16	  
	 5.6.
	 	 Period.
	  	 	17	  
	 ARTICLE VI.
	 	 REMEDIES.
	  	 	17	  
	 6.1.
	 	 Generally.
	  	 	17	  
	 6.2.
	 	 Deposit.
	  	 	17	  
	 ARTICLE VII.
	 	 LEGENDS.
	  	 	17	  
	 7.1.
	 	 Restrictive Legend.
	  	 	17	  
	 7.2.
	 	 1933 Act Legends.
	  	 	18	  
	 7.3.
	 	 Stop Transfer Instruction.
	  	 	19	  
	 7.4.
	 	 Termination of 1933 Act Legend.
	  	 	19	  
	 ARTICLE VIII.
	 	 AMENDMENT, TERMINATION, ETC.
	  	 	19	  
	 8.1.
	 	 Oral Modifications.
	  	 	19	  

									
	 8.2.
	 	 Written Modifications.
	  	 	19	  
	 8.3.
	 	 Effect of Termination.
	  	 	20	  
	 ARTICLE IX.
	 	 DEFINITIONS.
	  	 	20	  
	 9.1.
	 	 Certain Matters of Construction.
	  	 	20	  
	 9.2.
	 	 Definitions.
	  	 	20	  
	 ARTICLE X.
	 	 MISCELLANEOUS.
	  	 	26	  
	 10.1.
	 	 Authority; Effect.
	  	 	26	  
	 10.2.
	 	 Notices.
	  	 	26	  
	 10.3.
	 	 Binding Effect, Etc.
	  	 	27	  
	 10.4.
	 	 Descriptive Headings.
	  	 	27	  
	 10.5.
	 	 Counterparts.
	  	 	27	  
	 10.6.
	 	 Severability.
	  	 	28	  
	 ARTICLE XI.
	 	 GOVERNING LAW.
	  	 	28	  
	 11.1.
	 	 Governing Law.
	  	 	28	  
	 11.2.
	 	 Consent to Jurisdiction.
	  	 	28	  
	 11.3.
	 	 WAIVER OF JURY TRIAL.
	  	 	29	  
	 11.4.
	 	 Exercise of Rights and Remedies.
	  	 	29	  

 AMENDED AND RESTATED 

STOCKHOLDERS AGREEMENT 
 This Amended and Restated Stockholders Agreement (this “Agreement”) is made as of December 23, 2011, by and among: 

 

	 	(i)	 Giraffe Holding, Inc. (the “Company”); 

 

	 	(ii)	 Giraffe Intermediate A, Inc. (“Giraffe A”); 

 

	 	(iii)	 Giraffe Intermediate B, Inc. (“Giraffe B”); 

 

	 	(iv)	 The Gymboree Corporation (“Gymboree”); 

 

	 	(v)	 Gymboree Investment Holdings, LLC, a Delaware limited liability company (together with its Permitted Transferees, the “Investors”);

  

	 	(vi)	 Persons who from time to time become party hereto by executing a counterpart signature page hereof and are designated by the Board as “Other
Investors” (together with their Permitted Transferees, the “Other Investors”); and 

  

	 	(vii)	 Persons who from time to time become party hereto by executing a counterpart signature page hereof and are designated by the Board as
“Managers” (together with their Permitted Transferees, the “Managers” and together with the Investors and the Other Investors, the “Stockholders”). 

RECITALS 
 1. The parties hereto entered into that certain Stockholders Agreement, dated as of November 23, 2010 (the “Original Agreement”), to establish the composition of the Company’s
board of directors, to restrict the sale, assignment, transfer, encumbrance or other disposition of the Shares (as defined below) and to provide for certain other rights and obligations in respect thereto as hereinafter provided. 

2. On or about the date hereof, the holders of the outstanding shares of Common Stock of the Company contributed their
the Class A Common Stock, par value $.001 per share, of the Company and their Class L Common Stock, par value $.001 per share, of the Company (the “Contributed Shares”) to Gymboree Holdings, Ltd. , a Cayman Islands exempted
company and ultimate parent of the Company (“Gymboree Holdings”) in exchange for Common Stock of Gymboree Holdings (the “Contribution”). 

3. Following the Contribution, Gymboree Holdings contributed all of the Contributed Shares to the Investors in return for
Equity Interests of the Investors. 
 4. Following the Contribution, the Investors hold all of the outstanding
Common Stock of the Company. 

  
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 5. In connection with the Contribution on the date hereof, the parties
hereto wish to amend and restate the Original Agreement as set forth herein. 
 AGREEMENT 

Therefore, the parties hereto hereby agree as follows: 

ARTICLE I 

EFFECTIVENESS; DEFINITIONS. 
 1.1. Effectiveness. This Agreement will become effective upon the date hereof (the “Closing”). 

1.2. Definitions. Certain terms are used in this Agreement as specifically defined herein. These definitions are
set forth or referred to in Section ARTICLE IX hereof. 
 ARTICLE II 

VOTING AGREEMENT. 
 2.1. Election of Directors. Each holder of Shares hereby agrees to cast all votes to which such holder is entitled in respect of the Shares, whether at any annual or special meeting, by written
consent or otherwise, (a) to fix the number of members of the board of directors of the Company (the “Board”) at such number as may be specified from time to time by the Majority Investors and (b) to elect as members of
the Board such individuals as shall have been nominated from time to time by the Investors. 
 2.2.
Significant Transactions. Each holder of Shares agrees to cast all votes to which such holder is entitled in respect of the Shares, whether at any annual or special meeting, by written consent or otherwise, in the same proportion as Investor
Shares are voted by the Investor(s) to approve any sale, recapitalization, merger, consolidation, reorganization or any other transaction or series of transactions involving the Company or its direct or indirect subsidiaries (or all or any portion
of their respective assets) in connection with, or in furtherance of, the exercise by the Majority Investors of their rights under Section 4.2.. 
 2.3. Consent to Amendment. Each holder of Shares agrees to cast all votes to which such holder is entitled in respect of the Shares, whether at any annual or special meeting, by written consent or
otherwise, in the same proportion as Investor Shares are voted by the Majority Investors to increase the number of authorized shares of Common Stock to the extent necessary to permit the Company to comply with the provisions of its Certificate of
Incorporation or any agreement to which the Company is a party. 

  
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 2.4. Grant of Proxy. Each holder of Shares other than the Investors
hereby grants to the Investors an irrevocable proxy coupled with an interest to vote his, her or its Shares in accordance with his, her or its agreements contained in this Section ARTICLE II, which proxy will be valid and remain in effect
until the provisions of this Section ARTICLE II expire pursuant to Section 2.6.. 
 2.5.
The Company. The Company agrees not to give effect to any action by any holder of Shares or any other Person which is in contravention of this Section ARTICLE II. 

2.6. Period. The foregoing provisions of this Section ARTICLE II will expire on the earliest of (a) the
closing of a Change of Control, (b) the closing a Qualified Public Offering and (c) the last date permitted by law. 

ARTICLE III 
 TRANSFER RESTRICTIONS. NO HOLDER OF SHARES WILL TRANSFER ANY OF SUCH SHARES TO ANY OTHER PERSON EXCEPT AS PROVIDED IN THIS SECTION ARTICLE III. 

3.1. Permitted Transferees. 

3.1.1 Affiliates. Any holder of Shares may Transfer any or all of such Shares to an Affiliate of
such holder or to a Charitable Organization. 
 3.1.2 Estate Planning. Any holder of
Shares who is a natural Person may Transfer any or all of such Shares (i) by gift to, or for the benefit of, any Member of the Immediate Family of such holder, (ii) to a trust for the benefit of such holder or any Member of the Immediate
Family of such holder or (iii) to any other trust in respect of which such holder serves as trustee; provided, however, in the case of clause (iii), that the trust instrument governing such trust will provide that such holder, as
trustee, will retain sole and exclusive control over the voting and disposition of such Shares until the termination of this Agreement. 
 3.1.3 Upon Death. Subject to the provisions of Section 5.1. hereof upon the death of any holder of Shares who is a natural Person, such Shares may be distributed by the will or other
instrument taking effect at death of such holder or by applicable laws of descent and distribution to such holder’s estate, executors, administrators and personal representatives, and then to such holder’s heirs, legatees or distributees,
whether or not such recipients are Members of the Immediate Family of such holder or a Charitable Organization. 

  
 3 

 3.1.4 Investors, the Company and Certain Public
Offerings. Any holder of Shares may Transfer any or all of such Shares to (a) any Investor, (b) with the Board’s approval, the Company or any subsidiary of the Company or (c) in accordance with the terms of the Registration
Rights Agreement. 
 3.1.5 Additional Permitted Transfers by the Investors. Any holder of
Investor Shares may Transfer any or all of such Shares (a) to an Investor or an Affiliated Fund or (b) to its partners or members or to Affiliates of any of the foregoing. 

3.1.6 Additional Permitted Transfers by the Other Investors. Any holder of Other Investor Shares
may Transfer any or all of such Shares to its partners or members in connection with the termination of such holder’s legal existence. Any such transfer may be made no earlier than six months prior to the termination of the holder’s
existence. 
 No Transfer permitted under the terms of this Section 3.1. will be effective unless the transferee of
such Shares (each, a “Permitted Transferee”) has delivered to the Company a written acknowledgment and agreement in form and substance reasonably satisfactory to the Company that such Shares to be received by such Permitted
Transferee will remain Investor Shares, Other Investor Shares or Management Shares, as the case may be, and will be subject to all of the provisions of this Agreement and that such Permitted Transferee will be bound by, and will be a party to, this
Agreement as the holder of Investor Shares, Other Investor Shares or Management Shares, as the case may be, or as may otherwise be determined by the Board, hereunder; provided, however, that Shares Transferred to any director, officer
or employee of, or consultant or adviser to, the Company or any of its subsidiaries by a holder of Investor Shares will thereafter become Management Shares hereunder; and provided further that no Transfer by any holder of Shares to a
Permitted Transferee will relieve such holder of any of its obligations hereunder. 
 3.2. Tag Alongs, Drag
Alongs, Etc. In addition to Transfers permitted under Section 3.1.: 
 3.2.1 any holder
of Investor Shares may Transfer such Shares if (i) such holder has complied with the “tag along” provisions contained in Section 4.1. hereof or (ii) the Majority Investors have exercised their “drag along”
rights set forth in Section 4.2. hereof; and 
 3.2.2 any holder of Shares may
Transfer any or all of such Shares in accordance with the provisions, terms and conditions of Sections 4.1. and 4.2. hereof solely in their capacity as Participating Sellers thereunder. 

  
 4 

 Any Shares Transferred after compliance with the terms of Sections 4.1. or
4.2. hereof will conclusively be deemed thereafter not to be Shares under this Agreement and not to be subject to any of the provisions hereof or entitled to the benefit of any of the provisions hereof. 

3.3. Transfers Pursuant to Section ARTICLE V; Transfers to the Company. Management Shares may be transferred
pursuant to the terms of Section ARTICLE V. Any Shares Transferred to the Company pursuant to this Agreement will conclusively be deemed thereafter not to be Shares under this Agreement and not to be subject to any of the provisions hereof or
entitled to the benefit of any of the provisions hereof. Any Shares Transferred to the Investors pursuant to this Agreement will be conclusively deemed thereafter to be Investor Shares under this Agreement and will be subject to, and entitled to the
benefit of, the provisions hereof. 
 3.4. Impermissible Transfer. Any attempted Transfer of Shares not
permitted under the terms of this Section ARTICLE III will be null and void, and the Company will not in any way give effect to any such impermissible Transfer. Notwithstanding any other provision of this Section ARTICLE III or
otherwise and except as provided in Section ARTICLE IV: 
 3.4.1 In no event will any
Manager be entitled to Transfer his or her Shares (i) to any Person (whether or not to an Affiliate) that in the reasonable judgment of the Majority Investors, exercised in good faith, is a competitor of, or other Person who is adverse to the
interests of, the Company or Gymboree or (ii) to any Person who (directly or indirectly) (a) holds an ownership interest in such competitor equal to five percent or more, (b) has invested $5,000,000 or more in such competitor or
(c) has designated, or has the right to designate, a member of the board of directors of such competitor, in each case without the approval of the Majority Investors, except, in or following a Qualified Public Offering, in any bona fide
underwritten public offering or in any Rule 144 Sale; and 
 3.4.2 No Manager will be entitled to
Transfer Shares at any time if such Transfer would: (i) violate the Securities Act, or any state (or other jurisdiction) securities or “blue sky” laws applicable to the Company or the Shares; (ii) cause the Company to be required
to register Common Stock under Section 12(g) of the Exchange Act; (iii) cause the Company to become subject to the registration requirements of the U.S. Investment Company Act of 1940, as amended from time to time; or (iv) be a
non-exempt “prohibited transaction” under ERISA or the Code or cause all or any portion of the assets of the Company to constitute “plan assets” under ERISA or Section 4975 of the Code. 

3.5. Period. The foregoing provisions of this Section ARTICLE III will expire upon the earlier of the
closing of (a) a Change of Control and (b) the effectiveness of the Company’s registration statement in connection with a Qualified Public Offering. 

  
 5 

 3.6. Transfers of Options. Any Transfer of Options by a Manager or
Permitted Transferee that has become a party hereto will be governed by and subject to the terms and conditions of the applicable equity incentive plan to the extent permitted by the terms thereof. 

3.7. Stockholder Lock-Up. In connection with each underwritten Public Offering each Stockholder hereby agrees to
be bound by and, if requested, to execute and deliver a lock-up agreement with the underwriter(s) of such Public Offering (the “Principal Lock-Up Agreement”) restricting such Stockholder’s right to (i) Transfer any Shares
or (ii) enter into any swap or other arrangement that transfers to another any of the economic consequences of ownership of Shares, in each case to the extent that such restrictions are agreed to (A) in the case of an Initial Public
Offering that is not a demand registration initiated by an Investor, by the Board, (B) in the case of a demand registration initiated by an Investor, by the Investors holding a majority of the Shares proposed to be offered and
(C) otherwise, by the holders of a majority of the Shares participating in the Public Offering; provided, however, that no Stockholder will be required by this Section 3.7 to be bound by a lock-up agreement covering a
period of greater than 90 days (180 days in the case of the Initial Public Offering) following the effectiveness of the related registration statement plus such additional period of up to 17 days as may be required by the underwriters to satisfy
FINRA regulations and permit the managing underwriters’ analysts to publish research updates; provided, further, that no Stockholder will be required by this Section 3.7 to be bound by a lock-up agreement unless the
Stockholders that hold a majority of the Shares held by all Stockholders execute such a lock-up agreement with the underwriter(s) of the applicable Public Offering. Notwithstanding the foregoing, such lock-up agreement will not apply to
(i) transactions relating to shares of Common Stock or other securities acquired in (A) open market transactions or block purchases after the completion of the Initial Public Offering (or other Public Offering, as applicable) or (B) a
Public Offering, (ii) Transfers to Permitted Transferees of such Stockholder in accordance with the terms of this Agreement (including the obligations of such Permitted Transferee to execute and deliver a Principal Lock-Up Agreement), and
(iii) conversions of shares of Common Stock into other classes of Common Stock without change of holder. 
 ARTICLE IV

 INVESTOR TRANSFER RIGHTS; “TAG ALONG” AND “DRAG ALONG” RIGHTS. 

4.1. Tag Along. If one or more holders of Investor Shares (each such holder, a “Prospective Selling
Investor”) proposes to Transfer to a Prospective Buyer (other than an Affiliate of the Investors) in a transaction subject to Section 3.2(a)(i) hereof, an amount of Investor Shares equal to an aggregate of 20% or more of the
Investor Shares then currently outstanding and in connection therewith the Majority Investors have not elected to exercise their “drag along” rights under Section 4.2.: 

  
 6 

 4.1.1 Notice. The Prospective Selling Investors will
deliver a written notice (the “Tag Along Notice”) to each other holder of Shares (each, a “Tag Along Holder”) at least ten Business Days prior to such proposed Transfer. The Tag Along Notice will include:

 (a) The principal terms of the proposed Sale insofar as it relates to such Shares, including
(i) the number and class of the Shares to be purchased from the Prospective Selling Investors, (ii) with respect to each class of Shares to be purchased from the Prospective Selling Investors, the fraction(s) expressed as a percentage,
determined by dividing the number of Shares of such class to be purchased from the Prospective Selling Investors by the total number of Investor Shares of such class purchased by the Investors (the “Tag Along Sale Percentage”),
(iii) the maximum and minimum per Share purchase price and the form of consideration to be paid by the Prospective Purchaser and (iv) the name and address of the Prospective Buyer; and 

(b) An invitation to each Tag Along Holder to make an offer to include in the proposed Sale to the
applicable Prospective Buyer an additional number of Shares, of the applicable class of Shares proposed to be transferred, held by such Tag Along Holder (in any event not to exceed in the case of a Tag Along Holder and all of his, her or its
Permitted Transferees the Tag Along Sale Percentage of the total number of Shares of the applicable class of Shares held by such Tag Along Holder excluding for purposes of such calculation all Shares underlying any outstanding Options, Warrants or
Convertible Securities), on the same terms and conditions (subject to Section 4.3.4 hereof in the case of Options, Warrants and Convertible Securities), with respect to each Share Sold, as the Prospective Selling Investors shall Sell
each of their Shares. 
 4.1.2 Exercise. Within ten Business Days after the date of the
Tag Along Notice, each Tag Along Holder desiring to make an offer to include issued and outstanding Shares in the proposed Sale (each a “Participating Seller” and, together with the Prospective Selling Investors, collectively, the
“Tag Along Sellers”) will furnish a written notice (the “Tag Along Offer”) to the Prospective Selling Investors offering to include an additional number of Shares of the applicable class of Shares (not in any event
to exceed the Tag Along Sale Percentage of the total number of Shares of the applicable class held by such Participating Seller) that such Participating Seller desires to have included in the proposed Sale. Each Tag Along Holder who does not accept
the Prospective Selling Investors’ invitation to make an offer to include Shares in the proposed Sale will be deemed to have waived all of his, her or its rights with respect to such Sale, and the Tag Along Sellers will thereafter be free to
Sell to the Prospective Buyer, at a per Share price no greater than the maximum per Share price set forth in the Tag Along Notice and on other principal terms which are not materially more favorable to the Tag Along Sellers than those set forth in
the Tag Along Notice, without any further obligation to such non-accepting Tag Along Holder. 

4.1.3 Irrevocable Offer. The offer of each Participating Seller contained in his, her or its Tag
Along Offer will be irrevocable, and, to the extent such offer is accepted, 

  
 7 

 
such Participating Seller will be bound and obligated to Sell in the proposed Sale on the same terms and conditions, with respect to each Share Sold (subject to Section 4.3.4 hereof
in the case of Options, Warrants and Convertible Securities), as the Prospective Selling Investors, up to such number of Shares as such Participating Seller will have specified in his, her or its Tag Along Offer; provided, however,
that if the principal terms of the proposed Sale change with the result that the per Share price will be less than the minimum per Share price set forth in the Tag Along Notice or the other principal terms will be materially less favorable to the
Tag Along Sellers than those set forth in the Tag Along Notice, each Participating Seller will be permitted to withdraw the offer contained in his, her or its Tag Along Offer and will be released from his, her or its obligations thereunder.

 4.1.4 Reduction of Shares Sold. The Prospective Selling Investors shall attempt to
obtain the inclusion in the proposed Sale of the entire number of Shares that each of the Tag Along Sellers requested to have included in the Sale (as evidenced in the case of the Prospective Selling Investors by the Tag Along Notice and in the case
of each Participating Seller by such Participating Seller’s Tag Along Offer). In the event the Prospective Selling Investors will be unable to obtain the inclusion of such entire number of Shares in the proposed Sale, the number of Shares of
each class to be sold in the proposed Sale will be allocated among the Tag Along Sellers in proportion, as nearly as practicable, to the respective number of Shares of such class held by each Tag Along Seller, excluding for purposes of such
calculation all Shares underlying any outstanding Options or Warrants. 
 4.1.5 Additional
Compliance. If prior to consummation of the Sale, the terms of the proposed Sale change with the result that the per Share price to be paid in such proposed Sale will be greater than the maximum per Share price set forth in the Tag Along Notice
or the other principal terms of such proposed Sale will be materially more favorable to the Tag Along Sellers than those set forth in the Tag Along Notice, the Tag Along Notice will be null and void, and it will be necessary for a separate Tag Along
Notice to be furnished, and the terms and provisions of this Section 4.1. separately complied with, in order to consummate such proposed Sale pursuant to this Section 4.1.; provided, however, that in the case of
such a separate Tag Along Notice, the applicable period to which reference is made in Sections 4.1.1 and 4.1.2 hereof will be five Business Days. If the Prospective Selling Investors have not completed the proposed Sale by the end of
the 180th day following the date of the Tag Along Notice, each Participating Seller will be released from his, her or its obligations under his, her or its Tag Along Offer, the Tag Along Notice will be null and void, and it will be necessary for a
separate Tag Along Notice to be furnished, and the terms and provisions of this Sections 4.1. separately complied with, in order to consummate such proposed Sale pursuant to this Section 4.1., unless the failure to complete such
proposed Sale resulted from any failure by any Participating Seller to comply with the terms of this Sections 4.1.. 
 4.1.6 Classes of Shares. For the avoidance of doubt, the right of any Tag Along Holder to include Shares in any Sale in accordance with this Section 4.1 will be limited to

  
 8 

 
a right to include Shares in such Sale which are of the same class as the Shares to be included in such Sale by the Prospective Selling Investors, and all determinations under this Sections
4.1. will be made on the basis of the holdings of Shares of the class of Shares to be included in such Sale by the Prospective Selling Investor (including the Tag Along Sale Percentage). 

4.2. Drag Along. If one or more holders of Investor Shares (each such holder, a “Prospective Selling
Investor”) proposes to Sell to a Prospective Buyer (other than an Affiliate of the Investors) an amount of Investor Shares equal to an aggregate of 20% or more of the Investor Shares then currently outstanding, each holder of Shares of a class
hereby agrees, if requested by the Majority Investors, to Sell a percentage of each class of Shares held by such holder of Shares that is equal to the percentage of Investor Shares owned by the Prospective Selling Investor that are proposed to be
Sold by the Prospective Selling Investor to the Prospective Buyer (the “Drag Along Sale Percentage”), directly or indirectly, in the manner and on the terms set forth in this Section 4.2.. 

4.2.1 Exercise. If the Majority Investors elect to exercise their rights under this
Section 4.2. , the Prospective Selling Investors will furnish a written notice (the “Drag Along Notice”) to each other holder of Shares. The Drag Along Notice will set forth the principal terms of the proposed Sale insofar as
it relates to such Shares including (i) the number and class of Shares to be acquired from the Prospective Selling Investors, (ii) the Drag Along Sale Percentage applicable to such class, (iii) the per Share consideration (which, for
the avoidance of doubt, may be expressed as a formula or otherwise) applicable to such class to be received in the proposed Sale of Shares of a class and (iv) the name and address of the Prospective Buyer. If the Prospective Selling Investors
consummate the proposed Sale to which reference is made in the Drag Along Notice, each other holder of Shares (each a “Participating Seller”, and, together with the Prospective Selling Investors, collectively, the “Drag
Along Sellers”) will be bound and obligated to Sell the Drag Along Sale Percentage of his, her or its Shares of such class in the proposed Sale on the same terms and conditions, with respect to each Share Sold (subject to
Section 4.3.4 hereof in the case of Options, Warrants and Convertible Securities), as the Prospective Selling Investors will Sell each Investor Share of such class in the Sale (subject to Section 4.3.4 hereof in the case of
Options, Warrants and Convertible Securities). 
 4.2.2 Waiver of Appraisal Rights. Each
Drag Along Seller agrees not to demand or exercise appraisal rights under Section 262 of the DGCL with respect to a transaction subject to this Section 4.2. as to which such appraisal rights are available. 

4.2.3 Classes of Shares. For the avoidance of doubt, the obligation of any holder of Shares to
include Shares in any Sale in accordance with this Section 4.2. will be limited to an obligation to include Shares in such Sale which are of the same class as the Shares to be included in such Sale by the Prospective Selling Investors,
and all determinations under this Section 4.2. will be made on the basis of the holdings of Shares of the class of Shares to be included in such Sale by the Prospective Selling Investor (including the Drag Along Sale Percentage).

  
 9 

 4.3. Miscellaneous. The following provisions will apply to any
proposed Sale to which Sections 4.1. or 4.2. apply: 
 4.3.1 Certain Legal
Requirements. In the event the consideration to be paid in exchange for Shares in a proposed Sale pursuant to Section 4.1. or Section 4.2. hereof includes any securities, and the receipt thereof by a Participating Seller
would require under applicable law (a) the registration or qualification of such securities or of any Person as a broker or dealer or agent with respect to such securities or (b) the provision to any Tag Along Seller or Drag Along Seller
of any information regarding the Company, such securities or the issuer thereof, such Participating Seller will not have the right to Sell Shares in such proposed Sale. In such event, the Prospective Selling Investors will have the right, but not
the obligation, to cause to be paid to such Participating Seller in lieu thereof, against surrender of the Shares (in accordance with Section 4.3.6 hereof) which would have otherwise been Sold by such Participating Seller to the
Prospective Buyer in the proposed Sale, an amount in cash equal to the Fair Market Value of such Shares as of the date such securities would have been issued in exchange for such Shares. 

4.3.2 Further Assurances. Each Participating Seller, whether in his, her or its capacity as a
Participating Seller, stockholder, officer or director of the Company, or otherwise, will take or cause to be taken all such actions as may be necessary or reasonably desirable in order to expeditiously consummate each Sale pursuant to
Section 4.1. or Section 4.2. hereof and any related transactions, including executing, acknowledging and delivering consents, assignments, waivers and other documents or instruments; furnishing information and copies of
documents; filing applications, reports, returns, filings and other documents or instruments with governmental authorities; and otherwise cooperating with the Prospective Selling Investors and the Prospective Buyer; provided, however,
that Participating Sellers will be obligated to become liable in respect of any representations, warranties, covenants, indemnities or otherwise to the Prospective Buyer solely to the extent provided in the immediately following sentence. Without
limiting the generality of the foregoing, each Participating Seller agrees to execute and deliver such agreements as may be reasonably specified by the Prospective Selling Investors to which such Prospective Selling Investors will also be party on
the same terms and conditions with respect to each Share sold, including agreements to (a) (i) make individual representations, warranties, covenants and other agreements, on a several basis and solely as to themselves, as to the
unencumbered title to its Shares and the power, authority and legal right to Transfer such Shares and the absence of any Adverse Claim with respect to such Shares and (ii) be liable, on a several basis, without limitation as to such
representations, warranties, covenants and other agreements, (b) be liable (whether by purchase price adjustment, indemnity payments or otherwise) in respect of representations, warranties, covenants and agreements in respect of the Company and
its subsidiaries; provided, however, that the aggregate amount of liability described in this clause (b) in connection with any Sale of Shares will not exceed the 

  
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lesser of (i) such Participating Seller’s pro rata portion of any such liability, to be determined in accordance with such Participating Seller’s portion of the total number of
Shares included in such Sale or (ii) the proceeds allocated to such Participating Seller in connection with such Sale and (c) be liable in respect of claims for fraud, willful breach and intentional misconduct to the extent such claims are
not limited against the Prospective Selling Investors. 
 4.3.3 Sale Process. The
Prospective Selling Investors will, in their sole discretion, decide whether or not to pursue, consummate, postpone or abandon any proposed Sale and the terms and conditions thereof. No Investor or any Affiliate of any Investor will have any
liability to any other holder of Shares arising from, relating to or in connection with the pursuit, consummation, postponement, abandonment or terms and conditions of any proposed Sale except to the extent such Investor will have failed to comply
with the provisions of this Section ARTICLE IV. 
 4.3.4 Treatment of Options,
Warrants and Convertible Securities. Each Participating Seller agrees that to the extent he, she or it desires to include vested and exercisable Options, Warrants or Convertible Securities in any Sale of Shares pursuant to Section ARTICLE
IV hereof, he, she or it shall be deemed to have exercised, converted or exchanged such vested and exercisable Options, Warrants or Convertible Security immediately prior to the closing of such Sale to the extent necessary to Sell Common Stock to
the Prospective Buyer, except to the extent permitted under the terms of any such Option, Warrant or Convertible Security and agreed to by the Board and the Prospective Buyer. If any Participating Seller will Sell Options, Warrants or Convertible
Securities in any Sale pursuant to Section ARTICLE IV hereof, such Participating Seller will receive in exchange for such Options, Warrants or Convertible Securities consideration equal to the amount (if greater than zero) determined by multiplying
(a) the purchase price per Share of Common Stock received by the holders of the Prospective Selling Investors in such Sale less the unpaid exercise or conversion price, if any, per Share of such Option, Warrant or Convertible Security by
(b) the number of Shares of Common Stock issuable upon exercise, conversion or exchange of such Option, Warrant or Convertible Security (to the extent exercisable, convertible or exchangeable at the time of such Sale), subject to reduction for
any tax or other amounts required to be withheld under applicable law. 
 4.3.5 Expenses.
All reasonable costs and expenses incurred by the Prospective Selling Investors or the Company in connection with any proposed Sale pursuant to this Section ARTICLE IV (whether or not consummated), including all attorneys fees and charges, all
accounting fees and charges and all finders, brokerage or investment banking fees, charges or commissions, will be paid by the Company. The reasonable fees and charges of a single legal counsel representing any or all of the other Tag Along Sellers
or Drag Along Sellers in connection with any proposed Sale pursuant to this Section ARTICLE IV (whether or not consummated) will be paid by the Company. Any other costs and expenses incurred by or on behalf of any or all of the other Tag Along
Seller(s) or Drag Along Seller(s) in connection with any proposed Sale pursuant to this Section ARTICLE IV (whether or not consummated) will be borne by such Tag Along Seller(s) or Drag Along Seller(s). 

  
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 4.3.6 Closing. The closing of a Sale to which
Sections 4.1. or 4.2. hereof apply will take place at such time and place as the Prospective Selling Investors will specify by notice to each Participating Seller. At the closing of such Sale, each Participating Seller will
deliver the certificates evidencing the Shares (or Options, Warrants or Convertible Securities to the extent permitted by this Section 4.3) to be Sold by such Participating Seller, duly endorsed, or with stock (or equivalent) powers duly
endorsed, for transfer with signature guaranteed, free and clear of any Adverse Claim, with any stock (or equivalent) transfer tax stamps affixed, against delivery of the applicable consideration. 

4.4. Period. The foregoing provisions of this Section ARTICLE IV will expire upon the earlier of the
closing of (a) a Change of Control and (b) the effectiveness of the Company’s registration statement in connection with an Initial Public Offering. 
 ARTICLE V 
 OPTIONS TO PURCHASE MANAGEMENT SHARES. 

5.1. Call Options. Except as the Company may otherwise agree in writing with any Manager with respect to Shares
held by such Manager (or any Person to whom any shares of Common Stock were originally issued at the request of such Manager) or originally issued to such Manager (or other Person at the request of such Manager) but held by one or more direct or
indirect Permitted Transferees (collectively, the “Management Call Group”), upon any termination of the employment by the Company and its subsidiaries of any Manager (whether such termination is by the Company, by such Manager or
otherwise), the Company will have the right to purchase for cash (or a note to the extent provided in Section 5.3. below) all or any portion of the Purchased Management Shares held by the Management Call Group on the following terms (the
“Management Call Option”): 
 5.1.1 General. For all Purchased Management
Shares, the following terms will apply: 
 (a) Termination other than for Cause. If a
Manager’s employment is terminated for any reason other than for Cause (including as a result of death or disability), or if a Manager resigns his or her employment for any reason, the Company (or its designated assignee) will have the right,
on one or more occasions, at any time up to and including the date that is ninety days following the later to occur of (x) the later of termination of such Manager’s employment and the last date on which any Option or Warrant is
exercisable by any member of such Manager’s Management Call Group, and (y) the date that is six months plus 

  
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one day following the most recent acquisition of Purchased Management Shares from the Company by any member of such Manager’s Management Call Group, to purchase from such Management Call
Group, and upon the exercise of such call right each member of such Management Call Group will sell to the Company (or its designated assignee), all of the Purchased Management Shares held by such member of the Management Call Group as of the date
as of which such call right is exercised at a price equal to the Fair Market Value of the Purchased Management Shares being sold, determined as of the date specified in such Management Call Notice (as defined below), which date will be no earlier
than the date that is six months plus one day following the most recent acquisition from the Company by any member of such Manager’s Management Call Group of any such Purchased Management Shares that are to be purchased by the Company pursuant
to such exercised call right and will be no later than the last date on which the Company is permitted to issue a Management Call Notice in respect of such Purchased Management Shares under this Section 5.1.1 (a). 

(b) Termination for Cause. If a Manager’s employment is terminated for Cause (or the Company
reasonably determines that it could have terminated such Manager’s employment for Cause at the time such Manager resigned), the Company (or its designated assignee) will have the right, on one or more occasions, at any time up to and including
the date that is ninety days following the later to occur of (x) the later of termination of such Manager’s employment and the last date on which any Option or Warrant is exercisable by any member of such Manager’s Management Call
Group, and (y) the date that is six months plus one day following the most recent acquisition of Purchased Management Shares from the Company by any member of such Manager’s Management Call Group, to purchase from such Management Call
Group, and upon the exercise of such call right each member of such Management Call Group will sell to the Company (or its designated assignee), all of the Purchased Management Shares held by such member of the Management Call Group as of the date
as of which such call right is exercised at a price (the “Bad Leaver Price”) equal to the lesser of (i) the Fair Market Value of the Purchased Management Shares being sold, determined as of the date specified in such Management
Call Notice, which date will be no earlier than the date that is six months plus one day following the most recent acquisition from the Company by any member of such Manager’s Management Call Group of any such Purchased Management Shares that
are to be purchased by the Company pursuant to such exercised call right and will be no later than the last date on which the Company is permitted to issue a Management Call Notice in respect of such Purchased Management Shares under this
Section 5.1.1 (b), and (ii) the price paid, if any, by such Manager for such Purchased Management Shares; provided, that for purposes of the foregoing clause (ii), the price paid by a Manager for a share acquired upon
exercise of an Option or Warrant will be deemed to be equal to the exercise price of such Option or Warrant. 

  
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 (c) Violation of Non-Competition Obligations. If a
Manager’s employment is terminated for any reason or if a Manager resigns his or her employment for any reason and, within twelve months of such termination or resignation, such Manager Competes, the Company (or its designated assignee) will
have the right, on one or more occasions, at any time up to and including the date that is one hundred eighty (180) days following the later to occur of (x) the later of the first date on which the Company receives notice that such Manager
Competed and the last date on which any Option or Warrant is exercisable by any member of such Manager’s Management Call Group, and (y) the date that is six months plus one day following the most recent acquisition of Shares from the
Company by any member of such Manager’s Management Call Group, to purchase from such Management Call Group, and upon the exercise of such call right each member of such Management Call Group will sell to the Company (or its designated
assignee), all of the Purchased Management Shares held by such member of the Management Call Group as of the date as of which such call right is exercised at a price equal to the Bad Leaver Price. 

5.1.2 Notices, Etc. Any Management Call Option may be exercised by delivery of written notice
thereof (the “Management Call Notice”) to all members of the applicable Management Call Group from whom the Company has elected to purchase Purchased Management Shares no later than the end of the applicable 90 or 180 day period
specified in Section 5.1.1. The Management Call Notice will state that the Company has elected to exercise the Management Call Option, the number of Purchased Management Shares with respect to which the Management Call Option is being
exercised and the price or the date for determining the price of such shares. 
 5.1.3
Vesting. The rights of the Company and the Investors to purchase Management Shares under this Section ARTICLE V are in addition to, and do not modify, any vesting or exercisability requirements or forfeiture conditions that may be
included in the terms of any Management Shares. 
 5.2. Closing. 

5.2.1 The closing of any purchase and sale of Management Shares pursuant to this Section ARTICLE V
will take place as soon as reasonably practicable, and in any event not later than 30 days after delivery of the Management Call Notice or, in the case of Option Shares, if later, 30 days after the determination of the applicable purchase price in
accordance with Section 5.1.1 hereof (provided, that such time will be extended as necessary to comply with requirements of the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, or other applicable legal
requirements) at the principal office of the Company, or at such other time and location as the parties to such purchase may mutually determine. 
 5.2.2 At the closing of any purchase and sale of Management Shares following the exercise of any Management Call Option, the holders of Shares to be sold shall

  
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deliver to the Company a certificate or certificates representing the Shares to be purchased by the Company, duly endorsed, or with stock (or equivalent) powers duly endorsed, for transfer with
signature guaranteed, free and clear of any lien or encumbrance, with any necessary stock (or equivalent) transfer tax stamps affixed, and the Company will pay to such holder by certified or bank check or wire transfer of immediately available
federal funds or note, as may be applicable, the purchase price of the Shares being purchased by the Company. The delivery of a certificate or certificates for Shares by any Person selling Shares pursuant to any Management Call Option will be deemed
a representation and warranty by such Person that: (i) such Person has full right, title and interest in and to such Shares; (ii) such Person has all necessary power and authority and has taken all necessary action to sell such Shares as
contemplated; (iii) such Shares are free and clear of any and all liens or encumbrances and (iv) there is no Adverse Claim with respect to such Shares. 

5.3. Form of Payment. 

5.3.1 If (i) any payment of cash is required upon the purchase of Management Shares by the Company
upon the exercise of any Management Call Option or (ii) any payment on a promissory note issued under this Section 5.3.1 comes due, and, in either case, such payment (or any dividend to fund such payment) would (or with notice or
the lapse of time or both would) constitute, result in or give rise to a breach or violation of the terms or provisions of, or result in a default, event of default or right or cause of action under, any guarantee, financing or security agreement,
indenture or document entered into by the Company or any of its subsidiaries and in effect on such date in respect of indebtedness for borrowed money or debt security, would be prohibited under Section 160 (“Section 160”) of
the General Corporation Law of the State of Delaware (the “DGCL”), or would otherwise violate the DGCL (or if the Company or any such subsidiary reincorporates in another jurisdiction, the applicable business corporation law of such
jurisdiction), then, to the extent permitted by Section 160: 
 (a) in the case of a cash
payment due at a closing of any purchase of Management Shares by the Company upon the exercise of any Management Call Option, the Company will issue a promissory note in the aggregate principal amount of such payment, the principal amount of which
note will be due and payable on demand (subject to subsection 5.3.1 (c) below) and interest will accrue thereon at a rate equal to the prime rate (as reported in the Wall Street Journal Eastern Edition); 

(b) in the case of a cash payment in respect of a promissory note issued under this
Section 5.3.1, notwithstanding any of the provisions of such note, including the stated maturity of such note and the stated date on which interest payments are due, such payment will not become due and payable until such time as such
payment can be made without violating any such agreement; and 

  
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 (c) notwithstanding the terms of any promissory note issued
pursuant to this Section 5.3.1, the Company must pay off the promissory note at the earliest of (i) a Sale Transaction, (ii) the effectiveness of the Company’s registration statement in connection with an Initial Public
Offering (but only to the extent of the net proceeds received by the Company in such Initial Public Offering) and (iii) the date on which any cash dividend or distribution is made in respect of Shares. At any such time, the Company will
promptly notify the holder of such promissory note and make a payment on each such promissory note. If more than one such promissory note is outstanding at the time of payment, payment will be made to the holders of all such promissory notes on a
pro rata basis. 
 5.3.2 In the event that the Company has exercised its call right pursuant to
Section 5.1.1 (a) with respect to Management Shares held by (i) a Manager who (A) Competes within twelve months of such Manager’s termination of employment or resignation as described in Section 5.1.1
(c) or (B) is reasonably determined by the Company to have been eligible for termination for Cause, in either case following the Company’s exercise of such call right, and/or (ii) one or more members of such Manager’s
Management Call Group that held Management Shares, such Manager and/or such members of such Manager’s Management Call Group shall be obligated to deliver to the Company, within five (5) days following notice from the Company that such
amount is due, an amount equal to the product of (x) the number of Management Shares purchased in connection with the exercise of the call right, multiplied by (y) the excess, if any, of the price paid for such Management Shares over the
Bad Leaver Price for such Management Shares. 
 5.4. Investor Call Option. If the Company shall elect not
to purchase (pursuant to Section 5.1. hereof) any or all Management Shares held by a Manager or one or more members of such Manager’s Management Call Group, the Company shall notify the Investors and the Investors may purchase any or all
of the remaining Management Shares held by such Persons for the purchase price identified in Section 5.1. hereof; provided, that nothing in this Section 5.3. shall operate to extend the time within which the Management
Call Notice may be delivered pursuant to Section 5.1.2 hereof. The right to purchase such Shares will be allocated pro rata among the Investors (unless the Investors agree otherwise). 

5.5. Acknowledgment. Each holder of Management Shares acknowledges and agrees that neither the Company, nor any
Person directly or indirectly affiliated with the Company (in each case whether as a director, officer, manager, employee, agent or otherwise), will have any duty or obligation to affirmatively disclose to him, her or it, and he, she or it will not
have any right to be advised of, any material information regarding the Company or otherwise at any time prior to, upon, or in connection with any termination of his, her or its employment by the Company and its subsidiaries upon the exercise of any
Management Call Option or any purchase of the Shares in accordance with the terms hereof. 

  
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 5.6. Period. The foregoing provisions of this Section ARTICLE V
will expire with respect to any Management Share upon the earlier of the closing of (a) a Change of Control and (b) the effectiveness of the Company’s registration statement in connection with a Qualified Public Offering. 

ARTICLE VI 

REMEDIES. 
 6.1. Generally. The Company and each holder of Shares will have all remedies available at law, in equity or otherwise in the event of any breach or violation of this Agreement or any default
hereunder by the Company or any holder of Shares. The parties acknowledge and agree that in the event of any breach of this Agreement, in addition to any other remedies that may be available, each of the parties hereto will be entitled to specific
performance of the obligations of the other parties hereto and, in addition, to such other equitable remedies (including preliminary or temporary relief) as may be appropriate in the circumstances. 

6.2. Deposit. Without limiting the generality of Section 6.1. hereof, if any holder of Shares fails to
deliver to the purchaser thereof the certificate or certificates evidencing Shares to be Sold pursuant to Section ARTICLE IV or ARTICLE V hereof, such purchaser may, at its option, in addition to all other remedies it may have,
deposit the purchase price (including any promissory note constituting all or any portion thereof) for such Shares with any national bank or trust company having combined capital, surplus and undivided profits in excess of One Hundred Million
Dollars ($100,000,000) (the “Escrow Agent”) and the Company will cancel on its books the certificate or certificates representing such Shares and thereupon all of such holder’s rights in and to such Shares will terminate.
Thereafter, upon delivery to such purchaser by such holder of the certificate or certificates evidencing such Shares (duly endorsed, or with stock powers duly endorsed, for transfer, with signature guaranteed, free and clear of any liens or
encumbrances, and with any transfer tax stamps affixed), such purchaser shall instruct the Escrow Agent to deliver the purchase price (without any interest from the date of the closing to the date of such delivery, any such interest to accrue to
such purchaser) to such holder. 
 ARTICLE VII 
 LEGENDS. 
 7.1. Restrictive Legend. Each certificate
representing Shares will have the following legend endorsed conspicuously thereupon: 
 THE
VOTING OF THE SHARES OF STOCK REPRESENTED BY THIS CERTIFICATE, AND THE SALE, ENCUMBRANCE OR OTHER DISPOSITION THEREOF, ARE SUBJECT TO THE PROVISIONS OF A STOCKHOLDERS AGREEMENT TO WHICH THE ISSUER AND CERTAIN OF ITS STOCKHOLDERS ARE PARTY, A COPY OF
WHICH MAY BE INSPECTED AT THE PRINCIPAL OFFICE OF THE ISSUER OR OBTAINED FROM THE ISSUER WITHOUT CHARGE. 

  
 17 

 Each certificate representing Investor Shares will also have the following
legend endorsed conspicuously thereupon: 
 THE SHARES OF STOCK REPRESENTED BY THIS CERTIFICATE
WERE ORIGINALLY ISSUED TO, OR ISSUED WITH RESPECT TO SHARES ORIGINALLY ISSUED TO, THE FOLLOWING INVESTOR:                     . 

Each certificate representing Other Investor Shares will also have the following legend endorsed conspicuously thereupon:

 THE SHARES OF STOCK REPRESENTED BY THIS CERTIFICATE WERE ORIGINALLY ISSUED TO, OR ISSUED WITH
RESPECT TO SHARES ORIGINALLY ISSUED TO, THE FOLLOWING OTHER INVESTOR:                     . 

Each certificate representing Management Shares will also have the following legend endorsed conspicuously thereupon:

 THE SHARES OF STOCK REPRESENTED BY THIS CERTIFICATE WERE ORIGINALLY ISSUED TO, OR ISSUED WITH
RESPECT TO SHARES ORIGINALLY ISSUED TO OR AT THE REQUEST OF, THE FOLLOWING MANAGER:                     . 

Any Person who acquires Shares which are not subject to any of the terms of this Agreement will have the right to have
such legend (or the applicable portion thereof) removed from certificates representing such Shares. 
 7.2.
1933 Act Legends. Each certificate representing Shares will have the following legend endorsed conspicuously thereupon: 
 THE SECURITIES REPRESENTED BY THIS CERTIFICATE WERE ISSUED IN A PRIVATE PLACEMENT, WITHOUT REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), AND MAY NOT BE SOLD,
ASSIGNED, 

  
 18 

 
PLEDGED OR OTHERWISE TRANSFERRED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION UNDER THE ACT COVERING THE TRANSFER OR AN OPINION OF COUNSEL, SATISFACTORY TO THE ISSUER, THAT REGISTRATION UNDER THE
ACT IS NOT REQUIRED. 
 7.3. Stop Transfer Instruction. The Company will instruct any transfer agent not
to register the Transfer of any Shares until the conditions specified in the foregoing legends are satisfied. 

7.4. Termination of 1933 Act Legend. The requirement imposed by Section 7.2. hereof will cease and terminate
as to any particular Shares (a) when, in the opinion of Ropes & Gray LLP, or other counsel reasonably acceptable to the Company, such legend is no longer required in order to assure compliance by the Company with the Securities Act or
(b) when such Shares have been effectively registered under the Securities Act or transferred pursuant to Rule 144. Wherever (x) such requirement will cease and terminate as to any Shares or (y) such Shares will be transferable under
Rule 144 without volume limitation or other restrictions on transfer (including without application of paragraphs (c), (e), (f) and (h) of Rule 144), the holder thereof will be entitled to receive from the Company, without expense, new
certificates not bearing the legend set forth in Section 7.2. hereof. 
 ARTICLE VIII 

AMENDMENT, TERMINATION, ETC. 
 8.1. Oral Modifications. This Agreement may not be orally amended, modified, extended or terminated, nor will any oral waiver of any of its terms be effective. 

8.2. Written Modifications. This Agreement may be amended, modified, extended or terminated, and the provisions
hereof may be waived, only by an agreement in writing signed by the Majority Investors; provided, however, that (a) the consent of the Majority Other Investors will be required for any amendment, modification, extension,
termination or waiver that has a materially disproportionate and adverse effect on the rights of the holders of Other Investor Shares as such under this Agreement and (b) the consent of the Majority Managers will be required for any amendment,
modification, extension, termination or waiver that has a materially disproportionate and adverse effect on the rights of the holders of Management Shares as such under this Agreement. Each such amendment, modification, extension, termination and
waiver will be binding upon each party hereto and each holder of Shares subject hereto. In addition, each party hereto and each holder of Shares subject hereto may waive any right hereunder by an instrument in writing signed by such party or holder.

  
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 8.3. Effect of Termination. No termination under this Agreement will
relieve any Person of liability for breach prior to termination. 
 ARTICLE IX 

DEFINITIONS. FOR PURPOSES OF THIS AGREEMENT: 

9.1. Certain Matters of Construction. In addition to the definitions referred to or set forth below in this
Section ARTICLE IX: 
 (a) The words “hereof”, “herein”,
“hereunder” and words of similar import will refer to this Agreement as a whole and not to any particular Section or provision of this Agreement, and reference to a particular Section of this Agreement will include all subsections thereof;

 (b) The word “including” will be construed as “including without
limitation”; 
 (c) Definitions will be equally applicable to both nouns and verbs and the
singular and plural forms of the terms defined; and 
 (d) The masculine, feminine and neuter
genders will each include the other. 
 9.2. Definitions. The following terms will have the following
meanings: 
 “Adverse Claim” will have the meaning set forth in Section 8-302 of the
applicable Uniform Commercial Code. 
 “Affiliate” will mean (a) with respect to any
specified Person that is not a natural Person, any other Person which directly or indirectly through one or more intermediaries controls, or is controlled by, or is under common control with, such specified Person (for the purposes of this
definition, “control” (including, with correlative meanings, the terms “controlling,” “controlled by” and “under common control with”) as used with respect to any Person, means the possession, directly or
indirectly, of the power to direct or cause the direction of the management or policies of such Person, whether through the ownership of voting securities, by agreement or otherwise) and (b) with respect to any natural Person, any Member of the
Immediate Family of such natural Person. 
 “Affiliated Fund” will mean each corporation,
trust, limited liability company, general or limited partnership or other entity under common control with any Investor or that receives investment advice from the investment adviser to any Investor or an investment adviser Affiliated with such
investment adviser. 
 “Agreement” will have the meaning set forth in the Preamble. 

  
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 “Bad Leaver Price” shall have the meaning set forth in
Section 5.1.1(b). 
 “Board” will have the meaning set forth in Section 2.1. hereof.

 “Business Day” shall mean any day that is not a Saturday, a Sunday or other day on which
banks are required or authorized by law to be closed in the City of New York. 
 “Cause” with
respect to any holder of Management Shares, means (i) a material breach by such Manager of the Manager’s duties and responsibilities, or (ii) the commission by the Manager of a felony involving moral turpitude, or (iii) the
commission by the Manager of theft, fraud, embezzlement, material breach of trust or any material act of dishonesty involving the Company or its subsidiaries, or (iv) a significant violation by the Manager of the code of conduct of the Company
or its subsidiaries or of any statutory or common law duty of loyalty to the Company or its subsidiaries. Notwithstanding the foregoing, if a Manager is party to an employment or severance agreement with the Company or any subsidiary of the Company
that contains a definition of cause, such definition will apply (in the case of such Manager) in lieu of the definition set forth in the preceding sentence. 
 “Change of Control” will mean (a) any change in the ownership of the capital stock of the Company if, immediately after giving effect thereto, any Person (or group of Persons acting
in concert) other than the Investors and their Affiliates will have the direct or indirect power to elect a majority of the members of the Board or (b) any change in the ownership of the capital stock of the Company if, immediately after giving
effect thereto, the Investors and their Affiliates will own less than 25% of the Equivalent Shares. 

“Charitable Organization” will mean a charitable organization as described by Section 501(c)(3) of
the Code. 
 “Closing” will have the meaning set forth in Section 1.1. hereof. 

“Class A Stock” will mean the Class A Common Stock, par value $.001 per share of the Company.

 “Class L Stock” will mean the Class L Common Stock, par value $.001 per share, of the
Company. 
 “Code” will mean the Internal Revenue Code of 1986, as amended, reformed or
otherwise modified from time to time, and any successor statute of similar import, in each case as in effect from time to time. References to sections of the Code also refer to any successor sections. 

“Common Stock” will mean the common stock, par value $0.01 per share, of the Company including the
Class A Stock and the Class L Stock. 
 “Company” will have the meaning set forth in the
Preamble. 

  
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 “Compete” will mean, with respect to a Manager, the breach
by such Manager of any non-competition, non-solicitation or similar restrictive covenant made by such Manager in favor of the Company or any subsidiary of the Company, and “Competes” and “Competed” will each have
correlative meaning. 
 “Convertible Securities” will mean any evidence of indebtedness, shares
of stock (other than Common Stock) or other securities (other than Options and Warrants) which are directly or indirectly convertible into or exchangeable or exercisable for shares of Common Stock. 

“Cost” will mean, for any security, the price paid to the issuer for such security. 

“DGCL” will have the meaning set forth in Section 5.3.1 hereof. 

“Drag Along Notice” will have the meaning set forth in Section 4.2.1 hereof. 

“Drag Along Sale Percentage” will have the meaning set forth in Section 4.2. hereof. 

“Drag Along Sellers” will have the meaning set forth in Section 4.2.1 hereof. 

“Equity Interests” means the capital stock or equity interests of any Person (and any common stock or
equity interests of any Person issued or issuable with respect to such capital stock or equity interests, as applicable, by way of a equity dividend or distribution payable thereon or split, reverse split, recapitalization, reclassification,
reorganization, exchange, subdivision or combination thereof). 
 “Equivalent Shares” will
mean, at any date of determination, (a) as to any outstanding shares of Common Stock, such number of shares of Common Stock and (b) as to any outstanding Options, Warrants or Convertible Securities which constitute Shares, the maximum
number of shares of Common Stock for which or into which such Options, Warrants or Convertible Securities may at the time be exercised, converted or exchanged (or which will become exercisable, convertible or exchangeable on or prior to, or by
reason of, the transaction or circumstance in connection with which the number of Equivalent Shares is to be determined). 
 “ERISA” will mean the Employee Retirement Income Security Act of 1974, as amended, and any successor statute of similar import, in each case as in effect from time to time. 

“Escrow Agent” will have the meaning set forth in Section 6.2. hereof. 

“Exchange Act” will mean the Securities Exchange Act of 1934, as in effect from time to time.

 “Fair Market Value” will mean, as of any date, as to any share of Common Stock, the
Board’s good faith determination of the fair value of such shares as of the applicable reference date and, as to any Option or Warrant, such fair value reduced by any applicable exercise price. 

“FINRA” shall mean the Financial Industry Regulatory Authority. 

  
 22 

 “Gymboree” will have the meaning set forth in the Preamble.

 “Initial Public Offering” means the initial Public Offering registered on Form S-1 (or
any successor form under the Securities Act). 
 “Investor Shares” will mean (a) all
shares of Common Stock originally issued to, or issued with respect to shares originally issued to, or held by, an Investor, whenever issued, including all shares of Common Stock issued upon the exercise, conversion or exchange of any Options,
Warrants or Convertible Securities and (b) all Options, Warrants and (except for purposes of Section 4.1. hereof) Convertible Securities originally granted or issued to an Investor (treating such Options, Warrants and Convertible
Securities as a number of shares equal to the number of Equivalent Shares represented by such Options, Warrants and Convertible Securities for all purposes of this Agreement except as otherwise specifically set forth herein). 

“Investors” will have the meaning set forth in the Preamble. 

“Majority Investors” will mean, as of any date, the holders of a majority of the Investor Shares
outstanding on such date. 
 “Majority Managers” will mean, as of any date, the holders of a
majority of the Management Shares outstanding on such date. 
 “Majority Other Investors” will
mean, as of any date, the holders of a majority of the Other Investor Shares outstanding on such date. 

“Management Call Group” will have the meaning set forth in Section 5.1. hereof. 

“Management Call Notice” will have the meaning set forth in Section 5.1.2 hereof. 

“Management Call Option” will have the meaning set forth in Section 5.1. hereof. 

“Management Shares” will mean (a) all shares of Common Stock originally issued to, or issued with
respect to shares originally issued to, or held by, a Manager (or a Person to whom such shares of Common Stock were issued at the request of a Manager), whenever issued, including all shares of Common Stock issued upon the exercise, conversion or
exchange of any Options, Warrants or Convertible Securities and (b) all Options, Warrants and (except for purposes of Section 4.1. hereof) Convertible Securities originally granted or issued to a Manager (treating such Options, Warrants
and Convertible Securities as a number of shares equal to the number of Equivalent Shares represented by such Options, Warrants and Convertible Securities for all purposes of this Agreement except as otherwise specifically set forth herein).

 “Managers” will have the meaning set forth in the Preamble. 

“Member of the Immediate Family” will mean, with respect to any individual, each parent, spouse or child
or other descendant of such individual, each trust created solely for the benefit of one or more of the aforementioned Persons and their spouses and each custodian or guardian of any property of one or more of the aforementioned Persons in his, her
or its capacity as such custodian or guardian. 

  
 23 

 “Merger” will mean the merger of Merger Sub with and into
Gymboree as provided in the Merger Agreement. 
 “Merger Agreement” will have the meaning set
forth in the Recitals. 
 “Merger Sub” will have the meaning set forth in the Recitals.

 “Option Shares” will mean, with respect to a Manager or direct or indirect Permitted
Transferee of a Manager, all or any portion of the Management Shares which were issued upon exercise of an Option held by such holder (or Permitted Transferee, if applicable). 

“Options” will mean any options to subscribe for, purchase or otherwise directly acquire Common Stock.

 “Other Investor Shares” will mean (a) all shares of Common Stock originally issued to,
or issued with respect to shares originally issued to, or held by, an Other Investor, whenever issued, including all shares of Common Stock issued upon the exercise, conversion or exchange of any Options, Warrants or Convertible Securities and
(b) all Options, Warrants and (except for purposes of Section 4.1. hereof) Convertible Securities originally granted or issued to an Other Investor (treating such Options, Warrants and Convertible Securities as a number of shares equal to
the number of Equivalent Shares represented by such Options, Warrants and Convertible Securities for all purposes of this Agreement except as otherwise specifically set forth herein). 

“Other Investors” will have the meaning set forth in the Preamble. 

“Participating Seller” will have the meaning set forth in Sections 4.1.2 and 4.2.1 hereof. 

“Permitted Transferee” will have the meaning set forth in Section 3.1. . 

“Person” will mean any individual, partnership, corporation, company, association, trust, joint venture,
limited liability company, unincorporated organization, entity or division, or any government, governmental department or agency or political subdivision thereof. 

“Principal Lock-Up Agreement” will have the meaning set forth in Section 3.5. hereof. 

“Prospective Buyer” will mean any Person proposing to purchase Shares from a Prospective Selling
Investor. 
 “Prospective Selling Investor” will have the meaning set forth in
Sections 4.1. and 4.2. hereof. 
 “Public Offering” will mean a public offering and sale
of Common Stock for cash pursuant to an effective registration statement under the Securities Act. 

  
 24 

 “Purchased Management Shares” will mean, with respect to a
Manager (or a Person to whom any shares of Common Stock were originally issued at the request of such Manager) or direct or indirect Permitted Transferee of a Manager (or any such Person whom any shares of Common Stock were originally issued at the
request of such Manager), all of the Management Shares which are not Options or Warrants held by such holder (or Permitted Transferee, if applicable). 
 “Qualified Public Offering” will mean a Public Offering, other than any Public Offering or sale pursuant to a registration statement on Form S-8 or comparable form, in which the aggregate
price to the public of all such Common Stock sold in such offering will exceed $125,000,000. 

“Registration Rights Agreement” will mean that certain Registration and Participation Rights Agreement
to be dated as of the date hereof, among the Company and certain other parties thereto, as may be amended from time to time. 
 “Regulation D” will mean Regulation D under the Securities Act. 
 “Rule 144” will mean Rule 144 under the Securities Act (or any successor Rule). 
 “Rule 145 Transaction” will mean a registration on Form S-4 pursuant to Rule 145 of the Securities Act (or any successor Form or provision, as applicable). 

“Sale” will mean a Transfer for value. 

“Securities Act” will mean the Securities Act of 1933, as in effect from time to time. 

“Section 160” shall have the meaning set forth in Section 5.3.1 hereof. 

“Shares” will mean all Investor Shares, Other Investor Shares and Management Shares. 

“Stockholders” will have the meaning set forth in the Preamble. 

“Tag Along Holder” will have the meaning set forth in Section 4.1.1 hereof. 

“Tag Along Notice” will have the meaning set forth in Section 4.1.1 hereof. 

“Tag Along Offer” will have the meaning set forth in Section 4.1.1 hereof. 

“Tag Along Sale Percentage” will have the meaning set forth in Section 4.1.1 hereof. 

“Tag Along Sellers” will have the meaning set forth in Section 4.1.2 hereof. 

“Transfer” will mean any sale, pledge, assignment, encumbrance or other transfer or disposition of any
Shares to any other Person, whether directly, indirectly, voluntarily, involuntarily, by operation of law, pursuant to judicial process or otherwise. 

  
 25 

 “Warrants” will mean any warrants to subscribe for,
purchase or otherwise directly acquire Common Stock. 
 ARTICLE X 

MISCELLANEOUS. 
 10.1. Authority; Effect. Each party hereto represents and warrants to and agrees with each other party that the execution and delivery of this Agreement and the consummation of the transactions
contemplated hereby have been duly authorized on behalf of such party and do not violate any agreement or other instrument applicable to such party or by which its assets are bound. This Agreement does not, and will not be construed to, give rise to
the creation of a partnership among any of the parties hereto, or to constitute any of such parties members of a joint venture or other association. Each of the Company, the Investors and Gymboree will be jointly and severally liable for any payment
obligation of the Company, the Investors and Gymboree pursuant to this Agreement. 
 10.2. Notices. Any
notices, requests, demands, claims and other communications required or permitted to be delivered, given or otherwise provided under this Agreement shall be in writing and shall be (a) delivered or given personally, (b) sent by facsimile,
or (c) sent by overnight courier, in each case, to the address (or facsimile number) listed below: 
 If to
the Company: 
 Gymboree Holdings, Ltd. 

500 Howard Street 
 San Francisco, California 94105 
 Attention: Chief Executive
Officer 
 Facsimile: (707) 678-1315 

with a copy to: 
 c/o Bain Capital Partners, LLC 
 John Hancock Tower 

200 Clarendon Street 
 Boston, Massachusetts 02116 
 Attention: Joshua Bekenstein and
Jordan Hitch 
 Facsimile: (617) 516-2010 

  
 26 

 If to an Investor: 

c/o Bain Capital Partners, LLC 
 John Hancock Tower 
 200 Clarendon Street 

Boston, Massachusetts 02116 
 Attention: Joshua Bekenstein and Jordan Hitch 
 Facsimile:
(617) 516-2010 
 with a copy to: 

Ropes & Gray LLP 
 The Prudential Tower 
 800 Boylston Street 

Boston, Massachusetts 02199 
 Attention: R. Newcomb Stillwell and C. Todd Boes 
 Facsimile:
(617) 951-7050 
 If to an Other Investor or a Manager, to the most recent address of such Other Investor
or such Manager shown on the records of the Company. 
 Notice to the holder of record of any shares of capital
stock will be deemed to be notice to the holder of such shares for all purposes hereof. 
 Unless otherwise
specified herein, such notices or other communications will be deemed effective (a) on the date received, if personally delivered, (b) on the date received if delivered by facsimile on a Business Day, or if delivered on other than a
Business Day, on the first Business Day thereafter and (c) 1 Business Day after being sent by overnight courier. Each of the parties hereto will be entitled to specify a different address by giving notice as aforesaid to each of the other
parties hereto. 
 10.3. Binding Effect, Etc. Except for restrictions on Transfers of Shares set forth in
other agreements, plans or other documents, this Agreement constitutes the entire agreement of the parties with respect to its subject matter, supersedes all prior or contemporaneous oral or written agreements or discussions with respect to such
subject matter, and will be binding upon and inure to the benefit of the parties hereto and their respective heirs, representatives, successors and permitted assigns. Except as otherwise expressly provided herein, no Investor, Manager or other party
hereto may assign any of its respective rights or delegate any of its respective obligations under this Agreement without the prior written consent of the other parties hereto, and any attempted assignment or delegation in violation of the foregoing
will be null and void. 
 10.4. Descriptive Headings. The descriptive headings of this Agreement are for
convenience of reference only, are not to be considered a part hereof and will not be construed to define or limit any of the terms or provisions hereof. 
 10.5. Counterparts. This Agreement may be executed in multiple counterparts, each of which will be deemed an original, but all of which taken together will constitute one instrument. 

  
 27 

 10.6. Severability. In the event that any provision hereof would,
under applicable law, be invalid or unenforceable in any respect, such provision will be construed by modifying or limiting it so as to be valid and enforceable to the maximum extent compatible with, and possible under, applicable law. The
provisions hereof are severable, and in the event any provision hereof should be held invalid or unenforceable in any respect, it will not invalidate, render unenforceable or otherwise affect any other provision hereof. 

ARTICLE XI 

GOVERNING LAW. 
 11.1. Governing Law. This Agreement and any controversy arising out of or relating to this Agreement will be governed by and construed in accordance with the DGCL as to matters within the scope
thereof, and as to all other matters will be governed by and construed in accordance with the internal laws of the State of New York. 
 11.2. Consent to Jurisdiction. Each of the parties agrees that all actions, suits or proceedings arising out of, based upon or relating to this Agreement or the subject matter hereof will be
brought and maintained exclusively in the federal and state courts of the State of New York, City of New York, County of New York. Each of the parties hereto by execution hereof (i) hereby irrevocably submits to the jurisdiction of the federal
and state courts in the State of New York, City of New York, County of New York for the purpose of any action, suit or proceeding arising out of or based upon this Agreement or the subject matter hereof and (ii) hereby waives to the extent not
prohibited by applicable law, and agrees not to assert, by way of motion, as a defense or otherwise, in any such action, suit or proceeding, any claim that it is not subject personally to the jurisdiction of the above-named courts, that it is immune
from extraterritorial injunctive relief or other injunctive relief, that its property is exempt or immune from attachment or execution, that any such action, suit or proceeding may not be brought or maintained in one of the above-named courts, that
any such action, suit or proceeding brought or maintained in one of the above-named courts should be dismissed on grounds of forum non conveniens, should be transferred to any court other than one of the above-named courts,
should be stayed by virtue of the pendency of any other action, suit or proceeding in any court other than one of the above-named courts, or that this Agreement or the subject matter hereof may not be enforced in or by any of the above-named courts.
Notwithstanding the foregoing, to the extent that any party hereto is or becomes a party in any litigation in connection with which it may assert indemnification rights set forth in this Agreement, the court in which such litigation is being heard
will be deemed to be included in clause (i) above. Each of the parties hereto hereby consents to service of process in any such suit, action or proceeding in any manner permitted by the laws of the State of New York, agrees that service of
process by registered or certified mail, return receipt requested, at the address specified in or pursuant to Section 10.2. hereof is reasonably calculated to give actual notice and waives and agrees not to assert by way of motion, as a defense
or otherwise, in any such action, suit or proceeding any claim that service of process 

  
 28 

 
made in accordance with Section 10.2. hereof does not constitute good and sufficient service of process. The provisions of this Section 11.2. will not restrict the ability of any party
to enforce in any court any judgment obtained in a court included in clause (i) above. 
 11.3. WAIVER
OF JURY TRIAL. TO THE EXTENT NOT PROHIBITED BY APPLICABLE LAW WHICH CANNOT BE WAIVED, EACH PARTY HERETO HEREBY WAIVES AND COVENANTS THAT IT WILL NOT ASSERT (WHETHER AS PLAINTIFF, DEFENDANT OR OTHERWISE) ANY RIGHT TO TRIAL BY JURY IN ANY FORUM IN
RESPECT OF ANY ISSUE OR ACTION, CLAIM, CAUSE OF ACTION OR SUIT (IN CONTRACT, TORT OR OTHERWISE), INQUIRY, PROCEEDING OR INVESTIGATION ARISING OUT OF OR BASED UPON THIS AGREEMENT OR THE SUBJECT MATTER HEREOF OR IN ANY WAY CONNECTED WITH OR RELATED OR
INCIDENTAL TO THE TRANSACTIONS CONTEMPLATED HEREBY, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING. EACH PARTY HERETO ACKNOWLEDGES THAT IT HAS BEEN INFORMED BY THE OTHER PARTIES HERETO THAT THIS SECTION 11.3. CONSTITUTES A MATERIAL
INDUCEMENT UPON WHICH THEY ARE RELYING AND WILL RELY IN ENTERING INTO THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY. ANY PARTY HERETO MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS SECTION 11.3. WITH ANY COURT AS WRITTEN EVIDENCE OF
THE CONSENT OF EACH SUCH PARTY TO THE WAIVER OF ITS RIGHT TO TRIAL BY JURY. 
 11.4. Exercise of Rights and
Remedies. No delay of or omission in the exercise of any right, power or remedy accruing to any party as a result of any breach or default by any other party under this Agreement will impair any such right, power or remedy, nor will it be
construed as a waiver of or acquiescence in any such breach or default, or of any similar breach or default occurring later; nor will any such delay, omission nor waiver of any single breach or default be deemed a waiver of any other breach or
default occurring before or after that waiver. 
 [remainder of page intentionally left blank] 

  
 29 

 IN WITNESS WHEREOF, each of the undersigned has duly executed this Agreement
(or caused this Agreement to be executed on its behalf by its officer or representative thereunto duly authorized) as of the date and year first above written. 
  

									
	 THE COMPANY:
	 		 	GIRAFFE HOLDING, INC.
				
		 		 	 By:
	 	  

		 		 		 	 Name:
	 	 Matthew K. McCauley

		 		 		 	 Title:
	 	 Chief Executive Officer

  
 30 

									
	 Giraffe A:
	 		 	GIRAFFE INTERMEDIATE A, INC.
				
		 		 	 By:
	 	  

		 		 		 	 Name:
	 	 Matthew K. McCauley

		 		 		 	 Title:
	 	 Chief Executive Officer

  
 31 

									
	 Giraffe B:
	 		 	GIRAFFE INTERMEDIATE B, INC.
				
		 		 	 By:
	 	  

		 		 		 	 Name:
	 	 Matthew K. McCauley

		 		 		 	 Title:
	 	 Chief Executive Officer

  
 32 

									
	 Gymboree:
	 		 	THE GYMBOREE CORPORATION
				
		 		 	 By:
	 	  

		 		 		 	 Name:
	 	 Matthew K. McCauley

		 		 		 	 Title:
	 	 Chief Executive Officer

  
 33 

									
	 THE INVESTORS:
	 		 	GYMBOREE INVESTMENT HOLDINGS, LLC
				
		 		 	 By:
	 	  

		 		 		 	 Name:
	 	 Marko Kivisto

		 		 		 	 Title:
	 	 Director

  
 34 

							
	 THE OTHER INVESTORS:
	 		 		 	
				
		 		 	 By:
	 	  

		 		 		 	 Name:

		 		 		 	 Title:

  
 35 

					
	 MANAGER:
	 		 	
		 		 	  

		 		 	 Name:

  
 36<![CDATA[Amended & Restated Registration and Participation Rights Agreement]]>

 Exhibit 10.11 

 
  

 
 AMENDED AND RESTATED

 REGISTRATION AND PARTICIPATION RIGHTS AGREEMENT 

by and among 

Giraffe Holding, Inc., 
 Giraffe Intermediate A, Inc., 
 Giraffe Intermediate B, Inc., 

The Gymboree Corporation 
 and 
 Certain Stockholders of Giraffe Holding, Inc. 

Entered into on December 23, 2011 
  

 
  

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
		
	 ARTICLE I EFFECTIVENESS; DEFINITIONS.
	  	 	2	  
			
	 1.1.
	  	 Effectiveness
	  	 	2	  
			
	 1.2.
	  	 Definitions.
	  	 	2	  
		
	 ARTICLE II PARTICIPATION RIGHTS.
	  	 	2	  
			
	 2.1.
	  	 General
	  	 	2	  
			
	 2.2.
	  	 Right of Participation.
	  	 	2	  
			
	 2.3.
	  	 Post-Issuance Notice
	  	 	5	  
			
	 2.4.
	  	 Excluded Transactions
	  	 	5	  
			
	 2.5.
	  	 Certain Provisions Applicable to Options, Warrants and Convertible Securities
	  	 	5	  
			
	 2.6.
	  	 Acquired Shares
	  	 	6	  
			
	 2.7.
	  	 Period.
	  	 	6	  
		
	 ARTICLE III REGISTRATION RIGHTS.
	  	 	6	  
			
	 3.1.
	  	 Demand Registration Rights.
	  	 	6	  
			
	 3.2.
	  	 Piggyback Registration Rights.
	  	 	9	  
			
	 3.3.
	  	 Certain Other Provisions.
	  	 	11	  
			
	 3.4.
	  	 Indemnification and Contribution.
	  	 	16	  
		
	 ARTICLE IV REMEDIES.
	  	 	19	  
			
	 4.1.
	  	 Generally.
	  	 	19	  
		
	 ARTICLE V PERMITTED TRANSFEREES.
	  	 	20	  
		
	 ARTICLE VI AMENDMENT, TERMINATION, ETC.
	  	 	20	  
			
	 6.1.
	  	 Oral Modifications.
	  	 	20	  
			
	 6.2.
	  	 Written Modifications.
	  	 	20	  
			
	 6.3.
	  	 Effect of Termination.
	  	 	20	  
		
	 ARTICLE VII DEFINITIONS.
	  	 	21	  
			
	 7.1.
	  	 Certain Matters of Construction.
	  	 	21	  
			
	 7.2.
	  	 Definitions.
	  	 	21	  
		
	 ARTICLE VIII MISCELLANEOUS.
	  	 	26	  
			
	 8.1.
	  	 Authority: Effect.
	  	 	26	  

  
 i 

							
			
	 8.2.
	  	 Notices.
	  	 	26	  
			
	 8.3.
	  	 Merger; Binding Effect, Etc.
	  	 	27	  
			
	 8.4.
	  	 Descriptive Headings
	  	 	27	  
			
	 8.5.
	  	 Counterparts.
	  	 	27	  
			
	 8.6.
	  	 Severability
	  	 	27	  
			
	 8.7.
	  	 No Recourse.
	  	 	28	  
		
	 ARTICLE IX GOVERNING LAW.
	  	 	28	  
			
	 9.1.
	  	 Governing Law.
	  	 	28	  
			
	 9.2.
	  	 Consent to Jurisdiction.
	  	 	28	  
			
	 9.3.
	  	 WAIVER OF JURY TRIAL.
	  	 	29	  
			
	 9.4.
	  	 Exercise of Rights and Remedies
	  	 	29	  

 AMENDED AND RESTATED 

REGISTRATION AND PARTICIPATION RIGHTS AGREEMENT 

This Amended and Restated Registration and Participation Rights Agreement (this “Agreement”) is made as
of December 23, 2011, by and among: 
  

	 	 (i)
	 Giraffe Holding, Inc. (the “Company”); 

 

	 	 (ii)
	 Giraffe Intermediate A, Inc. (“Giraffe A”); 

 

	 	 (iii)
	 Giraffe Intermediate B, Inc. (“Giraffe B”); 

 

	 	 (iv)
	 The Gymboree Corporation (“Gymboree”); 

 

	 	 (v)
	 Gymboree Investment Holdings, LLC, a Delaware limited liability company (together with its Permitted Transferees, the “Investors”);

  

	 	 (vi)
	 Persons executing this Agreement and listed as an “Other Investor” on the signature pages hereto and such other Persons, if any, that from
time to time become party hereto as “Other Investors” (collectively with their Permitted Transferees, the “Other Investors”); and 

  

	 	 (iii)
	 Persons who from time to time be executing this Agreement and listed as a Manager on the signature pages hereto and such other Persons, if any, that
from time to time become party hereto as Managers (collectively with their Permitted Transferees, the “Managers”). 

 RECITALS 
 1. The parties hereto entered into that
certain Registration and Participation Rights Agreement, dated as of November 23, 2010 (the “Original Agreement”), to set forth their agreements regarding registration and participation rights and to provide for certain other
rights and obligations in respect thereto as hereinafter provided. 
 2. On or about the date hereof, the
holders of the outstanding shares of Common Stock of the Company contributed their the Class A Common Stock, par value $.001 per share, of the Company and their Class L Common Stock, par value $.001 per share, of the Company (the
“Contributed Shares”) to Gymboree Holdings, Ltd. , a Cayman Islands exempted company and ultimate parent of the Company (“Gymboree Holdings”) in exchange for Common Stock of Gymboree Holdings (the
“Contribution”). 
 3. Following the Contribution, Gymboree Holdings contributed all of the
Contributed Shares to the Investors in return for Equity Interests of the Investors. 

  
 1 

 4. In connection with the foregoing, the Company and the stockholders of the
Company are entering into an Amended and Restated Stockholders Agreement dated on or about the date hereof (the “Stockholders Agreement”). 
 5. In connection with the Contribution on the date hereof, the parties hereto wish to amend and restate the Original Agreement as set forth herein. 

AGREEMENT 
 Therefore, the parties hereto hereby agree as follows: 
 ARTICLE I

 EFFECTIVENESS; DEFINITIONS. 

1.1. Effectiveness. This Agreement will become effective upon the date hereof (the “Closing”).

 1.2. Definitions. Certain terms are used in this Agreement as specifically defined herein. These
definitions are set forth or referred to in Section ARTICLE VII hereof. 
 ARTICLE II 

PARTICIPATION RIGHTS. 
 2.1. General. Neither the Company nor any of its subsidiaries shall issue or sell any shares of any of its capital stock or any securities convertible into or exchangeable for any shares of its
capital stock, issue or grant any options or warrants for the purchase of, or enter into any agreements providing for the issuance (contingent or otherwise) of, any of its capital stock or any stock or securities convertible into or exchangeable for
any shares of its capital stock, in each case, to any Investor or any Affiliated Fund (each an “Issuance” of “Subject Securities”), except in compliance with the provisions of Sections 2.2 or 2.3 hereof.

 2.2. Right of Participation. 

2.2.1 Offer. Not fewer than ten Business Days prior to the consummation of an Issuance, the Company
will furnish a notice (the “Participation Notice”) to each holder of record of Participation Shares (the “Participation Offerees”). The Participation Notice will include: 

(a) The principal terms of the proposed Issuance, including (i) the amount and kind of Subject
Securities to be included in the Issuance, (ii) the number of Equivalent Shares represented by such Subject Securities (if applicable), (iii) the percentage of the total number of Equivalent Shares outstanding as of immediately prior to
giving effect to such Issuance that the number of Equivalent Shares held by such Participation Offeree constitutes (the “Participation Portion”), (iv) the maximum and minimum price (including if applicable, the maximum and
minimum Price Per Equivalent Share) per unit of the Subject Securities and (v) the name and address of the Investor or Affiliated Fund to whom the Subject Securities will be issued (the “Prospective Subscriber”); and

  
 2 

 (b) An offer by the Company to issue, at the option of each
Participation Offeree, to such Participation Offeree such portion of the Subject Securities to be included in the Issuance as may be requested by such Participation Offeree (not to exceed the Participation Offeree’s Participation Portion of the
total amount of Subject Securities to be included in the Issuance), on the same economic terms and conditions, with respect to each unit of Subject Securities issued to the Participation Offerees, as each of the Prospective Subscribers will receive
with respect to issued units of Subject Securities. 
 2.2.2 Exercise. 

(a) General. Each Participation Offeree desiring to accept the offer contained in the
Participation Notice will send a written commitment to the Company within ten Business Days after the date of the Participation Notice specifying the dollar amount of Subject Securities (in any event not to exceed the Participation Portion of the
total amount of Subject Securities to be included in the Issuance) that such Participation Offeree desires to purchase (each a “Participating Buyer”). Each Participation Offeree who has not so accepted such offer will be deemed to
have waived all of his, her or its rights with respect to the Issuance, and the Company will thereafter be free to issue Subject Securities in the Issuance to the Prospective Subscriber and any Participating Buyers, at a price no less than the
minimum price set forth in the Participation Notice and on other principal terms not substantially more favorable to the Prospective Subscriber than those set forth in the Participation Notice, without any further obligation to such non-accepting
Participation Offerees. If, prior to consummation, the terms of such proposed Issuance change with the result that the price will be less than the minimum price set forth in the Participation Notice or the other principal terms will be
substantially more favorable to the Prospective Subscriber than those set forth in the Participation Notice, it will be necessary for the Company to furnish a separate Participation Notice, and the terms and provisions of this Section 2.2
separately complied with, in order to consummate such Issuance pursuant to this Section 2.2. 
 (b) Irrevocable Acceptance. The acceptance of each Participating Buyer will be irrevocable except as hereinafter provided, and each such Participating Buyer will be bound and obligated to acquire
in the Issuance on the same economic terms and conditions, with respect to each unit of Subject Securities issued, as the Prospective Subscriber, such amount of Subject Securities as such Participating Buyer shall have specified in such
Participating Buyer’s written commitment. 
 (c) Time Limitation. If, at the end of
the 180th day following the date of the Participation Notice, the Company has not completed the Issuance, each Participating Buyer will be released from his, her or its obligations under the 

  
 3 

 
written commitment, the Participation Notice will be null and void, and it will be necessary for the Company to furnish a separate Participation Notice, and the terms and provisions of this
Section 2.2 separately complied with, in order to consummate such Issuance pursuant to this Section 2.2. 
 2.2.3 Other Securities. The Company may condition the participation of the Participation Offerees in an Issuance upon the purchase by such Participation Offerees of any securities (including debt
securities) other than Subject Securities (“Other Securities”) in the event that the participation of the Prospective Subscriber in such Issuance is so conditioned. In such case, each Participating Buyer will acquire in the
Issuance, together with the Subject Securities to be acquired by it, Other Securities in the same proportion to the Subject Securities to be acquired by it as the proportion of Other Securities to Subject Securities being acquired by the Prospective
Subscriber in the Issuance, on the same terms and conditions as the Prospective Subscriber, as to each unit of Subject Securities and Other Securities issued to the Participating Buyers. 

2.2.4 Certain Legal Requirements. In the event that the participation in the Issuance by a holder
of Shares as a Participating Buyer would require under applicable law (i) the registration or qualification of such securities or of any Person as a broker or dealer or agent with respect to such securities or (ii) the provision to any
participant in the Sale of any information regarding the Company, its subsidiaries or any of their respective securities, such holder of Shares will not have the right to participate in the Issuance. Without limiting the generality of the foregoing,
it is understood and agreed that the Company will not be under any obligation to effect a registration of such securities under the Securities Act or similar state statutes. 

2.2.5 Further Assurances. Each Participation Offeree and each Stockholder to whom the Shares held
by such Participation Offeree were originally issued, will, whether in his, her or its capacity as a Participating Buyer, Stockholder, officer or director of the Company, or otherwise, take or cause to be taken all such reasonable actions as may be
necessary or desirable in order to expeditiously consummate each Issuance pursuant to this Section 2.2 and any related transactions, including executing, acknowledging and delivering consents, assignments, waivers and other documents or
instruments; filing applications, reports, returns, filings and other documents or instruments with governmental authorities; and otherwise cooperating with the Company and the Prospective Subscriber. Without limiting the generality of the
foregoing, each such Participating Buyer and Stockholder agrees to execute and deliver such subscription and other agreements specified by the Company to which the Prospective Subscriber will be party. 

2.2.6 Expenses. All reasonable costs and expenses incurred by the holders of Investor Shares or the
Company in connection with any proposed Issuance of Subject Securities (whether or not consummated), including all attorney’s fees and charges, all accounting fees and expenses and all finders, brokerage or investment banking fees, charges or
commissions, will be paid by the Company or its subsidiaries. The reasonable fees and charges of a single legal counsel representing any or all of the other holders of Shares in connection with such proposed Issuance of Subject Securities (whether
or not 

  
 4 

 
consummated) will be paid by the Company or its subsidiaries. Any other costs and expenses incurred by or on behalf of any other holder of Shares in connection with such proposed Issuance of
Subject Securities (whether or not consummated) will be borne by such holder. 
 2.2.7
Closing. The closing of an Issuance pursuant to Section 2.2 hereof will take place at such time and place as the Company will specify by notice to each Participating Buyer. At the Closing of any Issuance under this Section 2.2.7,
each Participating Buyer will receive the notes, certificates or other instruments evidencing the Subject Securities (and, if applicable, Other Securities) to be issued to such Participating Buyer, registered in the name of such Participating Buyer
or his, her or its designated nominee, free and clear of any liens or encumbrances, with any transfer tax stamps affixed, against delivery by such Participating Buyer of the applicable consideration. 

2.3. Post-Issuance Notice. Notwithstanding the notice requirements of Sections 2.2.1 and 2.2.2 hereof, the Company
may proceed with any Issuance prior to having complied with the provisions of Section 2.2; provided that the Company will: 
 2.3.1 provide to each holder of Shares who would have been a Participation Offeree in connection with such Issuance (i) prompt notice of such Issuance and (ii) a notice containing the
information that would have been required to be included in a Participation Notice pursuant to Section 2.2.1 in which the actual price per unit of Subject Securities (and, if applicable, actual Price Per Equivalent Share) shall be set forth;
and 
 2.3.2 offer to issue to such holder of Shares such number of securities of the type issued
in the Issuance as may be requested by such holder of Shares (not to exceed the Participation Portion that such holder of Shares would have been entitled to pursuant to Section 2.2 hereof multiplied by the sum of (a) the number of Subject
Securities included in the Issuance and (b) the aggregate number of shares issued pursuant to this Section 2.3 with respect to such Issuance) on the same economic terms and conditions with respect to such securities as the subscribers in
the Issuance received; and 
 2.3.3 keep such offer open for a period of ten Business Days,
during which period, each such holder may accept such offer by sending a written acceptance to the Issuer committing to purchase an amount of such securities in any event not to exceed the Participation Portion that such holder would have been
entitled to pursuant to Section 2.2 hereof multiplied by the sum of (a) the number of Subject Securities included in such issuance and (b) the aggregate number of shares issued pursuant to this Section 2.3 with respect to such
Issuance. 
 2.4. Excluded Transactions. Notwithstanding the preceding provisions of this Section 2,
the preceding provisions of this Section 2 will not apply to the Issuance of Shares to the Investors in connection with the Closing of the transactions contemplated by the Merger Agreement. 

2.5. Certain Provisions Applicable to Options, Warrants and Convertible Securities. In the event that the Issuance
of Subject Securities will result in any increase in the number of 

  
 5 

 
shares of Common Stock issuable upon exercise, conversion or exchange of any Options, Warrants or Convertible Securities, the number of shares (or Equivalent Shares, if applicable) of Subject
Securities (and Other Securities, if applicable) which the holders of such Options, Warrants or Convertible Securities, as the case may be, will be entitled to purchase pursuant to Section 2.2 hereof, if any, will be reduced, share for share,
by the amount of any such increase. 
 2.6. Acquired Shares. Any Subject Securities constituting Common
Stock acquired by any holder of Shares pursuant to this Section 2 will be deemed for all purposes hereof and under the Stockholders Agreement to be Participation Shares hereunder of like kind with the Shares then held by the acquiring holder.

 2.7. Period. The foregoing provisions of this Section 2 will expire upon the earlier of the
closing of (a) a Change of Control and (b) the effectiveness of the Company’s registration statement in connection with the Initial Public Offering. 
 ARTICLE III 
 REGISTRATION RIGHTS. 

The Company will perform and comply, and cause each of its subsidiaries to perform and comply, with such of the following
provisions as are applicable to it. Each Holder will perform and comply with such of the following provisions as are applicable to such Holder. 
 3.1. Demand Registration Rights. 
 3.1.1
IPO Demand Registration Rights. 
 (a) At any time following the Closing, if the Company
has not yet completed the Initial Public Offering, any Bain Fund, by notice to the Company specifying the intended method or methods of disposition, may request (each such requesting Bain Fund, an “IPO Initiating Holders”) that the
Company effect the registration under the Securities Act for the Initial Public Offering of all or a specified part of the Registrable Securities held by such IPO Initiating Holder. 

(b) The Company will use its best efforts to (i) effect the registration under the Securities Act
(including by means of a shelf registration pursuant to Rule 415 under the Securities Act if so requested by a majority of the IPO Initiating Holders and if the Company is then eligible to use such registration) of the Registrable Securities that
the Company has been requested to register by an IPO Initiating Holder pursuant to this Section 3.1.1 together with all other Registrable Securities that the Company has been requested to register pursuant to Section 3.2 by other Holders,
all to the extent required to permit the disposition of the Registrable Securities that the Company has been so requested to register, and (ii) if requested by an IPO Initiating Holder, obtain acceleration of the effective date of the
registration statement relating to such registration. 
 3.1.2 Post-IPO Demand Registration
Rights. At any such time as any Bain Fund which, together with its Affiliates and Affiliated Funds, beneficially holds, in the 

  
 6 

 
aggregate, more than five percent (5%) of the outstanding Shares (the “Initiating Holders”), by notice to the Company specifying the intended method or methods of
disposition, may request that the Company effect the registration under the Securities Act for a Public Offering of all or a specified part of the Registrable Securities held by such Initiating Holders; provided, however, that the
value of Registrable Securities that the Initiating Holders propose to sell in such Public Offering is at least Twenty-Five Million Dollars ($25,000,000) or such lower amount as agreed by the Board. The Company will then use its best efforts to
(i) effect the registration under the Securities Act (including by means of a shelf registration pursuant to Rule 415 under the Securities Act if so requested by a majority of the Initiating Holders and if the Company is then eligible to use
such registration) of the Registrable Securities that the Company has been requested to register by such Initiating Holders together with all other Registrable Securities that the Company has been requested to register pursuant to Section 3.2
by other Holders, all to the extent required to permit the disposition of the Registrable Securities that the Company has been so requested to register, and (ii) if requested by an Initiating Holder, obtain acceleration of the effective date of
the registration statement relating to such registration; provided, however, that the Company will not be obligated to take any action to effect any such registration pursuant to this Section 3.1.2: 

(a) during the effectiveness of any Principal Lock-Up Agreement entered into in connection with any
registration statement pertaining to an underwritten public offering of securities of the Company for its own account (other than a Rule 145 Transaction, or a registration relating solely to employee benefit plans); or 

(b) if a registration statement requested under this Section 3.1.2 became effective within the
preceding 90 days (unless otherwise consented to by the Board). 
 3.1.3 Shelf Takedowns.
At any time during which the Company has effective a shelf registration pursuant to Rule 415 under the Securities Act with respect to such Holder’s Shares, any Bain Fund (the “Shelf Takedown Holders”), by notice to the Company
specifying the intended method or methods of disposition, may request that the Company effect an underwritten offering of the Shelf Takedown Holder’s Shares that are subject to such registration statement (an “Underwritten Shelf
Takedown”) of all or a specified part of the Registrable Securities held by such Shelf Takedown Holder; provided, however, that the value of Registrable Securities that the Shelf Takedown Holder together with Shares owned by
its Affiliated Funds proposes to sell in an Underwritten Shelf Takedown is at least Twenty-Five Million Dollars ($25,000,000) or such lower amount as agreed by the Board. The Company will not be obligated to take any action to effect any such
Underwritten Shelf Takedown pursuant to this Section 3.1.3 if an Underwritten Shelf Takedown requested under this Section 3.1.3 was consummated within the preceding 90 days (unless otherwise consented to by the Board). 

3.1.4 Form. Except as otherwise provided above or required by law, so long as the Company is
eligible and qualified to register Registrable Securities on Form S-3 (or any successor or similar short-form registration statement), each registration requested 

  
 7 

 
pursuant to Section 3.1.2 will be effected by the filing of a registration statement on Form S-3 (or any other form which includes substantially the same information as would be required to
be included in a registration statement on such form as currently constituted); provided that if any registration requested pursuant to this Section 3.1 is proposed to be effected on Form S-3 (or any successor or similar short-form
registration statement) and is in connection with an underwritten offering, and if the managing underwriter will advise the Company in writing that, in its opinion, it is of material importance to the success of such proposed offering to file a
registration statement on Form S-1 (or any successor or similar registration statement) or to include in such registration statement information not required to be included pursuant to Form S-3 (or any successor or similar short-form registration
statement), then the Company will file a registration statement on Form S-1 or supplement Form S-3 (or any successor or similar short-form registration statement) as reasonably requested by such managing underwriter. 

3.1.5 Payment of Expenses. The Company will pay all Registration Expenses in connection with
registrations of Registrable Securities pursuant to this Section 3.1, including all reasonable expenses (other than fees and disbursements of counsel that do not constitute Registration Expenses) that any Holder incurs in connection with each
registration of Registrable Securities requested pursuant to this Section 3.1. 
 3.1.6
Additional Procedures. In the case of a registration pursuant to Section 3.1 hereof, whenever an IPO Initiating Holder or an Initiating Holder is entitled to request and so requests that such registration will be effected pursuant to an
underwritten offering, the Company will include such information in any written notice to Holders required by Section 3.2. In such event, the right of any Holder to have securities owned by such Holder included in such registration will be
conditioned upon the inclusion of such Holder’s Registrable Securities in the underwriting (unless otherwise mutually agreed upon by the IPO Initiating Holder or Initiating Holder and such Holder). If requested by the IPO Initiating Holder,
Initiating Holder or Shelf Takedown Holder the Company together with the Holders proposing to distribute their securities through the underwriting will enter into an underwriting agreement with the underwriters for such offering containing such
representations and warranties by the Company and such Holders and such other terms and provisions as are customarily contained in underwriting agreements with respect to secondary distributions, including customary indemnity and contribution
provisions (subject, in each case, to the limitations on such liabilities set forth in this Agreement). 
 3.1.7 Suspension of Registration. If the filing, initial effectiveness or continued use of a registration statement, including a shelf registration statement pursuant to Rule 415 under the
Securities Act, in respect of a registration pursuant to this Section 3.1 at any time would require the Company to make a public disclosure of material non-public information, which disclosure in the good faith judgment of the Board (after
consultation with external legal counsel) (i) would be required to be made in any registration statement so that such registration statement would not be materially misleading, (ii) would not be required to be made at such time but for the
filing, effectiveness or continued use of such registration statement and (iii) would have a material adverse effect on the Company or its business or on the Company’s ability to effect a material proposed

  
 8 

 
acquisition, disposition, financing, reorganization, recapitalization or similar transaction, then the Company may, upon giving prompt written notice of such action to the Holders participating
in such registration, delay the filing or initial effectiveness of, or suspend use of, such registration statement; provided, that the Company will not be permitted to do so (i) for a period exceeding 30 days on any one occasion or
(ii) for an aggregate period exceeding 60 days in any 12 month period. In the event the Company exercises its rights under the preceding sentence, such Holders agree to suspend, promptly upon their receipt of the notice referred to above, their
use of any prospectus relating to such registration in connection with any sale or offer to sell Registrable Securities. The Company will promptly notify such Holders of the expiration of any period during which it exercised its rights under this
Section 3.1.7. The Company agrees that, in the event it exercises its rights under this Section 3.1.7, it will, within 30 days following such Holders’ receipt of the notice of suspension, update the suspended registration statement as
may be necessary to permit the Holders to resume use thereof in connection with the offer and sale of their Registrable Securities in accordance with applicable law. 

3.2. Piggyback Registration Rights. 

3.2.1 Piggyback Registration. 

(a) General. Each time the Company proposes to register any shares of Common Stock under the
Securities Act on a form which would permit registration of Registrable Securities for sale to the public, for its own account and/or for the account of any other Person (pursuant to Section 3.1 or otherwise) for sale in a Public Offering, the
Company will give notice to all Holders of its intention to do so. Any Holder may, by written response delivered to the Company within twenty days after the date of delivery of such notice, request that all or a specified part of such Holder’s
Registrable Securities be included in such registration. A Holder may request in any such response that varying numbers of such Holder’s Registrable Securities be included in the registration based on varying prices at which such Registrable
Securities are to be sold in the registered offering. The Company thereupon will use its best efforts to cause to be included in such registration under the Securities Act all Registrable Securities that the Company has been so requested to register
by such Holders, to the extent required to permit the disposition (in accordance with the methods to be used by the Company or, pursuant to Section 3.1, other Holders in such Public Offering) of the Registrable Securities to be so registered;
provided that (i) if, at any time after giving written notice of its intention to register any securities, the Company will determine for any reason not to proceed with the proposed registration of the securities to be sold by it, the
Company may, at its election, give written notice of such determination to each Holder and, thereupon, will be relieved of its obligation to register any Registrable Securities in connection with such registration (but not from its obligation to pay
the Registration Expenses in connection therewith), and (ii) if such registration involves an underwritten offering, all Holders requesting to be included in the Company’s registration must sell their Registrable Securities to the
underwriters selected by the Company on the same terms and conditions as apply to the Company (with such differences as 

  
 9 

 
may be customary or appropriate in combined primary and secondary offerings and, in any event, without providing for indemnification or contribution obligations in excess of what is required by
Section 3.4) or, in the case of a registration initiated pursuant to Section 3.1.1 or 3.1.2, the Bain Funds. No registration of Registrable Securities effected under this Section 3.2 will relieve the Company of any of its obligations
to effect registrations of Registrable Securities pursuant to Section 3.1 hereof. 
 (b)
Excluded Transactions. The Company will not be obligated to effect any registration of Registrable Securities under this Section 3.2 or give any notice to any Holder of the Company’s intent to register Registrable Securities, in
each case incidental to the registration of any of its securities in connection with: 
 (i) Any
Public Offering relating to employee benefit plans or dividend reinvestment plans; 
 (ii) Any
Public Offering relating to the acquisition or merger after the date hereof by the Company or any of its subsidiaries of or with any other businesses except to the extent such Public Offering is for the sale of securities for cash; or 

(iii) The Initial Public Offering, unless such offering shall have been initiated pursuant to
Section 3.1.1 or the Board determines otherwise, provided, that even if such offering is the Initial Public Offering and has been initiated pursuant to Section 3.1.1, the Company will not be obligated to effect any registration of
Registrable Securities or give any notice to Holders under this Section 3.2 if the lead underwriters determine that inclusion of such Registrable Securities would materially adversely affect the marketability or pricing of the offering.

 3.2.2 Payment of Expenses. The Company will pay all Registration Expenses in connection
with registrations of Registrable Securities pursuant to this Section 3.2. 
 3.2.3
Additional Procedures. Holders participating in any Public Offering pursuant to this Section 3.2 will take all such actions and execute all such documents and instruments that are reasonably requested by the Company to effect the sale of
their Registrable Securities in such Public Offering, including being parties to the underwriting agreement entered into by the Company and any other selling shareholders in connection therewith and being liable in respect of the representations and
warranties and the other agreements (including customary selling stockholder representations, warranties, indemnifications and “lock-up” agreements) for the benefit of the underwriters contained therein; provided, however,
that (i) with respect to individual representations, warranties, indemnities and agreements of sellers of Registrable Securities in such Public Offering, the aggregate amount of such liability will not exceed such holder’s net proceeds
from such offering and (ii) to the extent selling stockholders give further representations, warranties and indemnities, then with respect to all other representations, warranties and indemnities of sellers of Registrable Securities in such
Public Offering, the aggregate 

  
 10 

 
amount of such liability will not exceed the lesser of (x) such holder’s pro rata portion of any such liability, in accordance with such holder’s portion of the total number of
Registrable Securities included in the offering, and (y) such holder’s net proceeds from such offering. 
 3.3. Certain Other Provisions. 
 3.3.1
Underwriter’s Cutback. In connection with any registration of shares, the underwriter may determine that marketing factors (including an adverse effect on the per share offering price) require a limitation of the number of shares to be
underwritten. Notwithstanding any contrary provision of this Section 3 and subject to the terms of this Section 3.3.1, the underwriter may limit the number of shares which would otherwise be included in such registration by excluding any
or all Registrable Securities from such registration, it being understood that, if the registration in question involves a registration for sale of securities for the Company’s own account, then the number of shares which the Company seeks to
have registered in such registration will not be subject to exclusion, in whole or in part, under this Section 3.3.1. Upon receipt of notice from the underwriter of the need to reduce the number of shares to be included in the registration, the
Company will advise all holders of the Company’s securities that would otherwise be registered and underwritten pursuant hereto, and the number of shares of such securities, including Registrable Securities, that may be included in the
registration will be allocated in the following manner, unless the underwriter will determine that marketing factors require a different allocation: shares, other than Registrable Securities, requested to be included in such registration by other
stockholders will be excluded unless the Company, with the consent of the parties required to approve any amendment or waiver of this Agreement pursuant to Section 6.2 hereof, has granted registration rights which are to be treated on an equal
basis with Registrable Securities for the purpose of the exercise of the underwriter cutback (such shares afforded such equal treatment being “Parity Shares”); and, if a limitation on the number of shares is still required, the
number of Registrable Securities, Parity Shares and other shares of Common Stock that may be included in such registration will be allocated among the holders thereof in proportion, as nearly as practicable, as follows: 

(a) there will be first allocated to each such holder requesting that its Registrable Securities or
Parity Shares be registered in such registration a number of such shares to be included in such registration equal to the lesser of (i) the number of such shares requested to be registered by such holder, and (ii) a number of such shares
equal to such holder’s Pro Rata Portion; 
 (b) the balance, if any, not allocated pursuant
to clause (a) above will be allocated to those holders requesting that their Registrable Securities or Parity Shares be registered in such registration that requested to register a number of such shares in excess of such holder’s Pro Rata
Portion pro rata to each such holder based upon the number of Registrable Securities and Parity Shares held by such holder, or in such other manner as the holders requesting that their Registrable Securities or Parity Shares be registered in such
registration may otherwise agree; and 

  
 11 

 (c) the balance, if any, not allocated pursuant to clause
(b) above will be allocated to shares, other than Registrable Securities and Parity Shares, requested to be included in such registration by other stockholders. 

For purposes of any underwriter cutback, all Registrable Securities held by any Holder will also include any Registrable
Securities held by the partners, retired partners, shareholders or Affiliates of such Holder, or the estates and family members of any such Holder or such partners and retired partners, any trusts for the benefit of any of the foregoing Persons and,
at the election of such Holder or such partners, retired partners, trusts or Affiliates, any Charitable Organization to which any of the foregoing shall have contributed Common Stock prior to the execution of the underwriting agreement in connection
with such underwritten offering, and such Holder and other Persons will be deemed to be a single selling Holder, and any pro rata reduction with respect to such selling Holder will be based upon the aggregate amount of Common Stock owned by all
entities and individuals included with such selling Holder, as defined in this sentence. No securities excluded from the underwriting by reason of the underwriter’s marketing limitation will be included in such registration. Upon delivery of a
written request pursuant to Section 3.1.1, 3.1.2 or 3.2.1(a) that Registrable Securities be sold in an underwritten offering, the Holder thereof may not thereafter elect to withdraw therefrom without the written consent of the Bain Funds.
Notwithstanding the foregoing, if the managing underwriter of any underwritten offering will advise the Holders participating in the offering that the Registrable Securities covered by the registration statement cannot be sold in such offering
within a price range acceptable to the IPO Initiating Holder, Initiating Holder or Shelf Takedown Holder, then the IPO Initiating Holder, Initiating Holder or Shelf Takedown Holder will have the right to withdraw from such underwritten offering and,
upon any such withdrawal, the Bain Funds may elect to terminate any such offering at any time. 

3.3.2 Registration Procedures. If, and in each case when, the Company is required to effect a
registration of any Registrable Securities as provided in this Section 3, the Company will promptly: 
 (a) prepare and, in any event within 45 days (30 days in the case of a Form S-3 registration) after the end of the period under Section 3.2.1(a) within which a piggyback request for registration may
be given to the Company, file with the Commission a registration statement with respect to such Registrable Securities and use its best efforts to cause such registration statement to become effective within 90 days of the initial filing;

 (b) prepare and file with the Commission such amendments and supplements to such registration
statement and the prospectus used in connection therewith as may be necessary to keep such registration statement effective for a period not in excess of 270 days (or such shorter period which will terminate when all Registrable Securities covered
by such registration statement have been sold) and to comply with the provisions of the Securities Act and the Exchange Act with respect to the disposition of all securities covered by such registration statement during such period in accordance
with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement; provided that before filing a registration statement or prospectus, or any

  
 12 

 
amendments or supplements thereto in accordance with Sections 3.1 or 3.2, the Company will furnish to counsel selected pursuant to Section 3.3.3 hereof copies of all documents proposed to be
filed, which documents will be subject to the review of such counsel; 
 (c) furnish to each
seller of such Registrable Securities such number of copies of such registration statement and of each amendment and supplement thereto (in each case including all exhibits filed therewith), such number of copies of the prospectus included in such
registration statement (including each preliminary prospectus and summary prospectus), in conformity with the requirements of the Securities Act, and such other documents as such seller may reasonably request in order to facilitate the disposition
of the Registrable Securities by such seller; 
 (d) use its best efforts to register or qualify
such Registrable Securities covered by such registration in such jurisdictions as each seller will reasonably request, and do any and all other acts and things which may be reasonably necessary or advisable to enable such seller to consummate the
disposition in such jurisdictions of the Registrable Securities owned by such seller, except that the Company will not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction where, but for
the requirements of this clause (d), it would not be obligated to be so qualified or to consent to general service of process in any such jurisdiction; 

(e) notify each seller of any such Registrable Securities covered by such registration statement, at any
time when a prospectus relating thereto is required to be delivered under the Securities Act, of the Company’s becoming aware that the prospectus included in such registration statement, as then in effect, includes an untrue statement of a
material fact or omits 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, and at the request of any such seller, prepare and furnish to
such seller a reasonable number of copies of an amended or supplemental prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not include an untrue statement of a
material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances then existing; 

(f) otherwise use its best efforts to comply with all applicable rules and regulations of the Commission,
and make available to its security holders, as soon as reasonably practicable (but not more than 18 months) after the effective date of the registration statement, an earnings statement which will satisfy the provisions of Section 11(a) of the
Securities Act; 
 (g) (i) if such Registrable Securities are Common Stock (including
Common Stock issuable upon conversion, exchange or exercise of another security), use its best efforts to list such Registrable Securities on any securities 

  
 13 

 
exchange on which the Common Stock is then listed if such Registrable Securities are not already so listed; and (ii) use its best efforts to provide a transfer agent and registrar for such
Registrable Securities covered by such registration statement not later than the effective date of such registration statement; 
 (h) enter into such customary agreements (including an underwriting agreement in customary form), which may include indemnification provisions in favor of underwriters and other Persons in addition to the
provisions of Section 3.4 hereof, and take such other actions as the Bain Funds or the underwriters, if any, reasonably requested in order to expedite or facilitate the disposition of such Registrable Securities; 

(i) obtain a “cold comfort” letter or letters from the Company’s independent public
accountants in customary form and covering matters of the type customarily covered by “cold comfort” letters as the Bain Funds shall reasonably request; 

(j) make available for inspection by any seller of such Registrable Securities covered by such
registration statement, by any managing underwriter or underwriters participating in any disposition to be effected pursuant to such registration statement and by any attorney, accountant or other agent retained by any such seller or any such
managing underwriter(s), all pertinent financial and other records, pertinent corporate documents and properties of the Company, and cause all of the Company’s officers, directors and employees to supply all information reasonably requested by
any such seller, underwriter, attorney, accountant or agent in connection with such registration statement (subject to each party referred to in this clause (j) entering into customary confidentiality agreements in a form reasonably acceptable
to the Company); 
 (k) notify counsel (selected pursuant to Section 3.3.3 hereof) for the
Holders of Registrable Securities included in such registration statement and the managing underwriter or agent, immediately, and confirm the notice in writing (i) when the registration statement, or any post-effective amendment to the
registration statement, will have become effective, or any supplement to the prospectus or any amendment to the prospectus will have been filed, (ii) of the receipt of any comments from the Commission, (iii) of any request of the
Commission to amend the registration statement or amend or supplement the prospectus or for additional information, and (iv) of the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or of
any order preventing or suspending the use of any preliminary prospectus, or of the suspension of the qualification of the registration statement for offering or sale in any jurisdiction, or of the institution or threatening of any proceedings for
any of such purposes; 
 (l) use its best efforts to prevent the issuance of any stop order
suspending the effectiveness of the registration statement or of any order preventing or suspending the use of any preliminary prospectus and, if any such order is issued, to obtain the withdrawal of any such order as soon as practicable;

  
 14 

 (m) if requested by the managing underwriter or agent or
any Holder of Registrable Securities covered by the registration statement, incorporate in a prospectus supplement or post-effective amendment such information as the managing underwriter or agent or such Holder reasonably requests to be included
therein, including, with respect to the number of Registrable Securities being sold by such Holder to such underwriter or agent, the purchase price being paid therefor by such underwriter or agent and with respect to any other terms of the
underwritten offering of the Registrable Securities to be sold in such offering; and make all required filings of such prospectus supplement or post-effective amendment as soon as practicable after being notified of the matters incorporated in such
prospectus supplement or post-effective amendment; 
 (n) cooperate with the Holders of
Registrable Securities covered by the registration statement and the managing underwriter or agent, if any, to facilitate the timely preparation and delivery of certificates (not bearing any restrictive legends) representing securities to be sold
under the registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or agent, if any, or such Holders may request; 

(o) obtain for delivery to the Holders of Registrable Securities being registered and to the underwriter
or agent an opinion or opinions from counsel for the Company in customary form and in form, substance and scope reasonably satisfactory to the Bain Funds, underwriters or agents and their counsel; 

(p) cooperate with each seller of Registrable Securities and each underwriter or agent participating in
the disposition of such Registrable Securities and their respective counsel in connection with any filings required to be made with the FINRA; and 

(q) use its best efforts to make available the executive officers of the Company to participate with the
Holders of Registrable Securities and any underwriters in any “road shows” that may be reasonably requested by the Holders in connection with distribution of the Registrable Securities. 

3.3.3 Selection of Underwriters and Counsel. The underwriters and legal counsel to be retained by
the Company in connection with any Public Offering will be selected by the Board; provided that, in the case of an offering following a request therefor under Section 3.1.1 or 3.1.2, such underwriters and counsel will be reasonably
acceptable to the Bain Funds. In connection with any registration of Registrable Securities pursuant to Sections 3.1 and 3.2 hereof, the Bain Funds may select one counsel to represent all Holders of Registrable Securities covered by such
registration; provided, however, that in the event that the counsel selected as provided above is also acting as counsel to the Company in connection with such registration, the remaining Holders will be entitled to select one
additional counsel to represent, at the Company’s expense, all such remaining Holders. 

  
 15 

 3.3.4 Company Lock-Up. If any registration pursuant
to Section 3.1 of this Agreement shall be in connection with an underwritten Public Offering, the Company agrees not to effect any public sale or distribution of any Common Stock of the Company (or securities convertible into or exchangeable or
exercisable for Common Stock) (in each case, other than as part of such underwritten public offering and other than pursuant to a registration on Form S-4 or S-8) for its own account, within 90 days (or such shorter period as the managing
underwriters may require) after, the effective date of such registration (except as part of such registration). 
 3.3.5 Holder Lock-Up. Each Holder will comply with the provisions of Section 3.7 of the Stockholders Agreement applicable to a “Stockholder” as though such Section were set forth
herein. No Stockholder will Transfer Common Stock or any securities convertible into or exercisable or exchangeable for Common Stock pursuant to a waiver from a lock-up agreement described in Section 3.7 of the Stockholders Agreement unless the
benefit of such waiver is extended in a pro rata manner to all Stockholders. 
 3.3.6 Other
Agreements. The Company covenants and agrees that, so long as any Person holds any Registrable Securities in respect of which any registration rights provided for in Section 3.1 of this Agreement remain in effect, the Company will not,
directly or indirectly, grant to any Person or agree to or otherwise become obligated in respect of rights of registration in the nature or substantially in the nature of those set forth in Section 3.1 or 3.2 of this Agreement without the
consent of Stockholders holding a majority of the Registrable Securities (plus the consent of any Stockholder who would be disproportionately and adversely affected thereby compared to other Stockholders) other than registration rights set forth in
Section 3.1 or 3.2 that are provided to Managers, Other Investors or Investors that join this Agreement from time to time. 
 3.4. Indemnification and Contribution. 

3.4.1 Indemnities of the Company. In the event of any registration of any Registrable Securities or
other debt or equity securities of the Company or any of its subsidiaries under the Securities Act pursuant to this Section 3 or otherwise, and in connection with any registration statement or any other disclosure document produced by or on
behalf of the Company or any of its subsidiaries including reports required and other documents filed under the Exchange Act, and other documents pursuant to which any debt or equity securities of the Company or any of its subsidiaries are sold
(whether or not for the account of the Company or its subsidiaries), the Company will, and hereby does, and will cause each of its subsidiaries, jointly and severally, to indemnify and hold harmless each holder of Registrable Securities, any Person
who is or might be deemed to be a controlling Person of the Company or any of its subsidiaries within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act, their respective direct and indirect partners,
advisory board members, advisors, directors, officers, employees, trustees, members and shareholders, and each other Person, if any, who controls any such 

  
 16 

 
holder or any such controlling Person within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act (each such Person being referred to herein as a
“Covered Person”), against any losses, claims, damages or liabilities (or actions or proceedings in respect thereof), joint or several, to which such Covered Person may be or become subject under the Securities Act, the Exchange
Act, any other securities or other law of any jurisdiction, the common law or otherwise, insofar as such losses, claims, damages or liabilities (or actions or proceedings in respect thereof) arise out of or are based upon (i) any untrue
statement or alleged untrue statement of any material fact contained or incorporated by reference in any registration statement under the Securities Act, any preliminary prospectus or final prospectus included therein, or any related summary
prospectus, or any amendment or supplement thereto, or any document incorporated by reference therein, or any other such disclosure document (including reports and other documents filed under the Exchange Act and any document incorporated by
reference therein) or other document or report, (ii) any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading or (iii) any violation or
alleged violation by the Company or any of its subsidiaries of any federal, state, foreign or common law rule or regulation applicable to the Company or any of its subsidiaries and relating to action or inaction in connection with any such
registration, disclosure document or other document or report, and will reimburse such Covered Person for any legal or any other expenses incurred by it in connection with investigating or defending any such loss, claim, damage, liability, action or
proceeding; provided, however, that neither the Company nor any of its subsidiaries will be liable to any Covered Person in any such case to the extent that any such loss, claim, damage, liability, action or proceeding arises out of or
is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in such registration statement, any such preliminary prospectus, final prospectus, summary prospectus, amendment or supplement, incorporated document
or other such disclosure document or other document or report, in reliance upon and in conformity with written information furnished to the Company or to any of its subsidiaries through an instrument duly executed by such Covered Person specifically
stating that it is for use in the preparation thereof. The indemnities of the Company and of its subsidiaries contained in this Section 3.4.1 will remain in full force and effect regardless of any investigation made by or on behalf of such
Covered Person and will survive any transfer of securities or any termination of this Agreement. 

3.4.2 Indemnities to the Company. Subject to Section 3.4.4, the Company and any of its
subsidiaries may require, as a condition to including any securities in any registration statement filed pursuant to this Section 3, that the Company and any of its subsidiaries will have received an undertaking satisfactory to it from the
prospective seller of such securities, severally and not jointly, to indemnify and hold harmless the Company and any of its subsidiaries, each director of the Company or any of its subsidiaries, each officer of the Company or any of its subsidiaries
who will sign such registration statement and each other Person (other than such seller), if any, who controls the Company and any of its subsidiaries within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act
and each other prospective seller of such securities with respect to any statement in or omission from such registration statement, any preliminary prospectus, final prospectus or summary prospectus included

  
 17 

 
therein, or any amendment or supplement thereto, or any other disclosure document (including reports and other documents filed under the Exchange Act or any document incorporated therein) or
other document or report, if such statement or omission was made in reliance upon and in conformity with written information furnished to the Company or any of its subsidiaries through an instrument executed by such seller specifically stating that
it is for use in the preparation of such registration statement, preliminary prospectus, final prospectus, summary prospectus, amendment or supplement, incorporated document or other document or report. Such indemnity will remain in full force and
effect regardless of any investigation made by or on behalf of the Company, any of its subsidiaries or any such director, officer or controlling Person and will survive any transfer of securities or any termination of this Agreement. 

3.4.3 Contribution. If the indemnification provided for in Sections 3.4.1 or 3.4.2 hereof is
unavailable to a party that would have been entitled to indemnification pursuant to the foregoing provisions of this Section 3.4 (an “Indemnitee”) in respect of any losses, claims, damages or liabilities (or actions or
proceedings in respect thereof) referred to therein, then each party that would have been an indemnifying party thereunder will, subject to Section 3.4.4 and in lieu of indemnifying such Indemnitee, contribute to the amount paid or payable by
such Indemnitee as a result of such losses, claims, damages or liabilities (or actions or proceedings in respect thereof) in such proportion as is appropriate to reflect the relative fault of such indemnifying party on the one hand and such
Indemnitee on the other in connection with the statements or omissions that resulted in such losses, claims, damages or liabilities (or actions or proceedings in respect thereof). The relative fault will be determined by reference to, among other
things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by such indemnifying party or such Indemnitee and the parties’ relative
intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The parties agree that it would not be just or equitable if contribution pursuant to this Section 3.4.3 were determined by pro rata
allocation or by any other method of allocation that does not take account of the equitable considerations referred to in the preceding sentence. The amount paid or payable by a contributing party as a result of the losses, claims, damages or
liabilities (or actions or proceedings in respect thereof) referred to above in this Section 3.4.3 will include any legal or other expenses reasonably incurred by such Indemnitee in connection with investigating or defending any such action or
claim. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) will be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. 

3.4.4 Limitation on Liability of Holders of Registrable Securities. The liability of each holder of
Registrable Securities in respect of any indemnification or contribution obligation of such holder arising under this Section 3.4 will not in any event exceed an amount equal to the net proceeds to such holder (after deduction of all
underwriters’ discounts and commissions) from the disposition of the Registrable Securities disposed of by such holder pursuant to such registration. 

  
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 3.4.5 Indemnification Procedures. Promptly after
receipt by an Indemnitee of written notice of the commencement of any action or proceeding with respect to which a claim for indemnification may be made pursuant to this Section 3.4, such Indemnitee will, if a claim in respect thereof is to be
made against an indemnifying party, give written notice to the latter of the commencement of such action or proceeding; provided that the failure of the Indemnitee to give notice as provided herein will not relieve the indemnifying party of
its obligations under this Section 3.4, except to the extent that the indemnifying party is materially prejudiced by such failure to give notice. In case any such action or proceeding is brought against an Indemnitee, the indemnifying party
will be entitled to participate in and to assume the defense thereof (at its expense), jointly with any other indemnifying party similarly notified to the extent that it may wish, with counsel reasonably satisfactory to such Indemnitee, and after
notice from the indemnifying party to such Indemnitee of its election so to assume the defense thereof, the indemnifying party will not be liable to such Indemnitee for any legal or other expenses subsequently incurred by the latter in connection
with the defense thereof other than reasonable costs of investigation and will have no liability for any settlement made by the Indemnitee without the consent of the indemnifying party, such consent not to be unreasonably withheld. Notwithstanding
the foregoing, if in such Indemnitee’s reasonable judgment a conflict of interest between such Indemnitee and the indemnifying parties may exist in respect of such action or proceeding or the indemnifying party does not assume the defense of
any such action or proceeding within a reasonable time after notice of commencement, the Indemnitee will have the right to assume or continue its own defense and the indemnifying party will be liable for any reasonable expenses therefor, but in no
event will bear the expenses for more than one firm of counsel for all Indemnitees in each jurisdiction who will be approved by the Bain Funds in the registration in respect of which such indemnification is sought. No indemnifying party will settle
any action or proceeding or consent to the entry of any judgment without the prior written consent of the Indemnitee, unless such settlement or judgment (i) includes as an unconditional term thereof the giving by the claimant or plaintiff of a
release to such Indemnitee from all liability in respect of such action or proceeding and (ii) does not involve the imposition of equitable remedies or the imposition of any obligations on such Indemnitee and does not otherwise adversely affect
such Indemnitee, other than as a result of the imposition of financial obligations for which such Indemnitee will be indemnified hereunder. 
 ARTICLE IV 
 REMEDIES. 

4.1. Generally. The parties will have all remedies available at law, in equity or otherwise in the event of any
breach or violation of this Agreement or any default hereunder. The parties acknowledge and agree that in the event of any breach of this Agreement, in addition to any other remedies that may be available, each of the parties hereto will be entitled
to specific performance of the obligations of the other parties hereto and, in addition, to such other equitable remedies (including preliminary or temporary relief) as may be appropriate in the circumstances. 

  
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 ARTICLE V 
 PERMITTED TRANSFEREES. 
 The rights of a Holder hereunder
may be assigned (but only with all related obligations as set forth below) in connection with a Transfer of Shares effected in accordance with the terms of the Stockholders Agreement and this Agreement to a Permitted Transferee of such Holder.
Without prejudice to any other or similar conditions imposed hereunder with respect to any such Transfer, no assignment permitted under the terms of this Section 5 will be effective unless the Permitted Transferee to which such assignment is
being made, if not a Stockholder, has delivered to the Company a written acknowledgment and agreement in form and substance reasonably satisfactory to the Company that the Shares in respect of which such assignment is made will continue to be deemed
Shares and will be subject to all of the provisions of this Agreement relating to Shares and that such Permitted Transferee will be bound by, and will be a party to, this Agreement. A Permitted Transferee to whom rights are transferred pursuant to
this Section 5 may not again transfer such rights to any other Permitted Transferee, other than as provided in this Section 5. 
 ARTICLE VI 
 AMENDMENT, TERMINATION, ETC. 

6.1. Oral Modifications. This Agreement may not be orally amended, modified, extended or terminated, nor will any
oral waiver of any of its terms be effective. 
 6.2. Written Modifications. This Agreement may be
amended, modified, extended or terminated, and the provisions hereof may be waived, only by an agreement in writing signed by the Company and the Stockholders that hold a majority of the Shares held by all Stockholders; provided,
however, that any amendment, modification, extension, termination or waiver (an “Amendment”) will also require the consent of any Stockholder who would be disproportionately and adversely affected thereby. Each such Amendment
will be binding upon each party hereto and each holder of Shares subject hereto. In addition, each party hereto and each holder of Shares subject hereto may waive any right hereunder by an instrument in writing signed by such party or holder.

 6.3. Effect of Termination. No termination under this Agreement will relieve any Person of liability
for breach prior to termination. In the event this Agreement is terminated, each Covered Person will retain the indemnification rights pursuant to Section 3.4 hereof with respect to any matter that (i) may be an indemnified liability
thereunder and (ii) occurred prior to such termination. 

  
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 ARTICLE VII 
 DEFINITIONS. 
 For purposes of this Agreement: 

7.1. Certain Matters of Construction. In addition to the definitions referred to or set forth below in this
Section 7: 
 (i) The words “hereof’, “herein”, “hereunder”
and words of similar import will refer to this Agreement as a whole and not to any particular Section or provision of this Agreement, and reference to a particular Section of this Agreement will include all subsections thereof; 

(ii) The word “including” will be construed as including, without limitation; 

(iii) Definitions will be equally applicable to both nouns and verbs and the singular and plural forms of
the terms defined; and 
 (iv) The masculine, feminine and neuter genders will each include the
other. 
 7.2. Definitions. The following terms will have the following meanings: 

“Affiliate” will mean (a) with respect to any specified Person that is not a natural Person, any
other Person that directly or indirectly through one or more intermediaries controls, or is controlled by, or is under common control with, such specified Person (for the purposes of this definition, “control” (including, with correlative
meanings, the terms “controlling,” “controlled by” and “under common control with”) as used with respect to any Person, means the possession, directly or indirectly, of the power to direct or cause the direction of the
management or policies of such Person, whether through the ownership of voting securities, by agreement or otherwise) and (b) with respect to any natural Person, any Member of the Immediate Family of such natural Person. 

“Affiliated Fund” means with respect to any Investor, each corporation, trust, limited liability
company, general or limited partnership or other entity under common control with that Investor (including any such entity with the same general partner or principal investment advisor as that Investor or with a general partner or principal
investment advisor that is an Affiliate of the general partner or principal investment advisor of that Investor). 
 “Agreement” will have the meaning set forth in the Preamble. 
 “Amendment” will have the meaning set forth in Section 6.2. 
 “Bain Funds” will have the meaning set forth in the Preamble. 
 “Board” will mean the board of directors of the Company. 
 “Business Day” will mean any day that is not a Saturday, a Sunday or other day on which banks are required or authorized by law to be closed in the City of New York. 

“Change of Control” will mean (a) any change in the ownership of the capital stock of the Company
if, immediately after giving effect thereto, any Person (or group of Persons acting in 

  
 21 

 
concert) other than the Investors and their Affiliates will have the direct or indirect power to elect a majority of the members of the Board or (b) any change in the ownership of the
capital stock of the Company if, immediately after giving effect thereto, the Investors and their Affiliates will own less than 25% of the Equivalent Shares. 
 “Charitable Organization” means a charitable organization as described by Section 501(c)(3) of the Internal Revenue Code of 1986, as in effect from time to time. 

“Class A Stock” will mean the Class A Common Stock, par value $.001 per share of the Company.

 “Class L Stock” will mean the Class L Common Stock, par value $.001 per share, of the
Company. 
 “Closing” will have the meaning set forth in Section 1.1. 

“Commission” will mean the Securities and Exchange Commission. 

“Common Stock” will mean the common stock, par value $0.01 per share, of the Company, including the
Class A Stock and the Class L Stock. 
 “Company” will have the meaning set forth in the
Preamble. 
 “Covered Person” will have the meaning set forth in Section 3.4.1.

 “Convertible Securities” will mean any evidence of indebtedness, shares of stock (other than
Common Stock) or other securities (other than Options and Warrants) which are directly or indirectly convertible into or exchangeable or exercisable for shares of Common Stock. 

“Equivalent Shares” will mean, at any date of determination, (a) as to any outstanding shares of
Common Stock, such number of shares of Common Stock and (b) as to any outstanding Options, Warrants or Convertible Securities which constitute Shares, the maximum number of shares of Common Stock for which or into which such Options, Warrants
or Convertible Securities may at the time be exercised, converted or exchanged (or which will become exercisable, convertible or exchangeable on or prior to, or by reason of, the transaction or circumstance in connection with which the number of
Equivalent Shares is to be determined); provided, however, that with respect to any Manager only Vested Shares shall be counted in determining the Equivalent Shares held by such Manager. 

“Exchange Act” will mean the Securities Exchange Act of 1934, as in effect from time to time.

 “FINRA” will mean the Financial Industry Regulatory Authority. 

“Giraffe A” will have the meaning set forth in the Preamble. 

“Giraffe B” will have the meaning set forth in the Preamble. 

  
 22 

 “Gymboree” will have the meaning set forth in the Preamble.

 “Holders” will mean the holders of Registrable Securities under this Agreement. 

“Indemnitee” will have the meaning set forth in Section 3.4.3. 

“Initial Public Offering” will mean the initial Public Offering registered on Form S-1 (or any successor
form under the Securities Act) after the date hereof. 
 “Initiating Holders” will have the
meaning set forth in Section 3.1.2. 
 “Investors” will have the meaning set forth in the
Preamble. 
 “IPO Initiating Holders” will have the meaning set forth in Section 3.1.1.

 “Issuance” will have the meaning set forth in Section 2.1. 

“Management Shares” will mean all Shares held by a Manager. Any Management Shares that are Transferred
by the holder thereof to such holder’s Permitted Transferees will remain Management Shares in the hands of such Permitted Transferee. 
 “Managers” will have the meaning set forth in the Preamble. 
 “Merger Agreement” will have the meaning set forth in the Recitals. 
 “Options” will mean any options to subscribe for, purchase or otherwise directly acquire Common Stock, other than any such option held by the Company or any right to purchase shares
pursuant to this Agreement. 
 “Other Investors” will have the meaning set forth in the
Preamble. 
 “Other Securities” will have the meaning set forth in Section 2.2.3.

 “Participating Buyer” will have the meaning set forth in Section 2.2.2. 

“Participation Notice” will have the meaning set forth in Section 2.2.1. 

“Participation Offeree” will have the meaning set forth in Section 2.2.1. 

“Participation Portion” will have the meaning set forth in Section 2.2.1. 

“Parity Shares” will have the meaning set forth in Section 3.3.1. 

“Participation Shares” will mean all Shares held by an Investor, by an Other Investor and all Vested
Shares held by a Manager. 
 “Permitted Transferee” will have the meaning set forth in the
Stockholders Agreement. 

  
 23 

 “Person” will mean any individual, partnership,
corporation, company, association, trust, joint venture, limited liability company, unincorporated organization, entity or division, or any government, governmental department or agency or political subdivision thereof. 

“Price Per Equivalent Share” will mean the Board’s good faith determination of the price per
Equivalent Share of any Convertible Securities or Options or Warrants which are the subject of an Issuance pursuant to Section 2 hereof. 
 “Principal Lock-Up Agreement” will have the meaning set forth in Section 3.7 of the Stockholders Agreement. 

“Pro Rata Portion” will mean for purposes of Section 3.3, with respect to each holder of
Registrable Securities or Parity Shares requesting that such shares be registered in such registration statement, a number of such shares equal to the aggregate number of shares of Common Stock to be registered in such registration (excluding any
shares to be registered for the account of the Company) multiplied by a fraction, the numerator of which is the aggregate number of Registrable Securities and Parity Shares held by such holder, and the denominator of which is the aggregate number of
Registrable Securities and Parity Shares held by all holders requesting that their Registrable Securities or Parity Shares be registered in such registration. 
 “Prospective Subscriber” will have the meaning set forth in Section 2.2.1. 
 “Public Offering” will mean a public offering and sale of Common Stock for cash pursuant to an effective registration statement under the Securities Act. 

“Purchase Election” will have the meaning set forth in Section 3.1.1(c). 

“Registrable Securities” will mean (a) all shares of Class A Stock, (b) all shares of
Class A Stock issuable upon conversion of Shares of Class L Stock, (c) all shares of Class A Stock issuable upon exercise, conversion or exchange of any Option, Warrant or Convertible Security and (d) all shares of
Class A Stock directly or indirectly issued or issuable with respect to the securities referred to in clauses (a), (b) or (c) above by way of stock dividend or stock split or in connection with a combination of shares,
recapitalization, merger, consolidation or other reorganization, in each case constituting Shares and, in the case of any Manager, Vested Shares. As to any particular Registrable Securities, such shares will cease to be Registrable Securities when
(u) such shares will have been Transferred in a Sale to which Sections 4.1 or 4.2 of the Stockholders Agreement apply, (v) a registration statement with respect to the sale of such securities will have become effective under the Securities
Act and such securities will have been disposed of in accordance with such registration statement, (w) such securities will have been Transferred pursuant to Rule 144, (x) subject to the provisions of Section 5 hereof, such securities
will have been otherwise transferred, new certificates for them not bearing a legend restricting further transfer will have been delivered by the Company and subsequent disposition of them will not require registration of them under the Securities
Act, (y) such securities may be distributed without volume limitation or other restrictions on transfer under Rule 144 (including without application of paragraphs (c), (e) (f) and (h) of Rule 144) or (z) such securities
will have ceased to be outstanding. 

  
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 “Registration Expenses” means any and all expenses incident
to performance of or compliance with Section 3 of this Agreement (other than underwriting discounts and commissions paid to underwriters and transfer taxes, if any), including (a) all Commission and securities exchange or FINRA
registration and filing fees, (b) all fees and expenses of complying with securities or blue sky laws (including reasonable fees and disbursements of counsel for the underwriters in connection with blue sky qualifications of the Registrable
Securities), (c) all printing, messenger and delivery expenses, (d) all fees and expenses incurred in connection with the listing of the Registrable Securities on any securities exchange or FINRA pursuant to Section 3.3.2(g) and all
rating agency fees, (e) the fees and charges of counsel for the Company and of its independent public accountants, including the expenses of any special audits and/or “cold comfort” letters required by or incident to such performance
and compliance, (f) the reasonable fees and charges of one counsel for the Holders selected pursuant to the terms of Section 3 and one counsel for certain Holders selected pursuant to the second proviso of Section 3.3.3, if
applicable, (g) any fees and disbursements customarily paid by the issuers of securities, (h) expenses incurred in connection with any road show (including the reasonable out-of-pocket expenses of the Holders) and (i) fees and
expenses incurred in connection with the distribution or transfer of Registrable Securities to or by a Holder or its permitted transferees in connection with a Public Offering. 

“Rule 144” will mean Rule 144 under the Securities Act (or any successor Rule). 

“Rule 145” will mean Rule 145 under the Securities Act (or any successor Rule). 

“Rule 145 Transaction” will mean a registration on Form S-4 (or any successor Form) pursuant to Rule
145. 
 “Securities Act” will mean the Securities Act of 1933, as in effect from time to time.

 “Shares” will mean (a) all shares of Common Stock held by a Stockholder, whenever
issued, including all shares of Common Stock issued upon the exercise, conversion or exchange of any Options, Warrants or Convertible Securities and (b) all Options, Warrants and Convertible Securities held by a Stockholder (treating such
Options, Warrants and Convertible Securities as a number of Shares equal to the number of Equivalent Shares represented by such Options, Warrants and Convertible Securities for all purposes of this Agreement except as otherwise specifically set
forth herein). 
 “Shelf Takedown Holders” will have the meaning set forth in
Section 3.1.3. 
 “Stockholders” will mean the Investors and the Managers. 

“Stockholders Agreement” will have the meaning set forth in the Recitals. 

“Subject Securities” will have the meaning set forth in Section 2.1. 

“Transfer” will mean any sale, pledge, assignment, encumbrance or other transfer or disposition of any
Shares to any other Person, whether directly, indirectly, voluntarily, involuntarily, by operation of law, pursuant to judicial process or otherwise. 

  
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 “Underwritten Shelf Takedown” will have the meaning set
forth in Section 3.1.3. 
 “Vested Shares” will mean, with respect to a Manager at any
time, the Management Shares held by such Manager which are not subject to vesting requirements at such time. 

“Warrants” will mean any warrants to subscribe for, purchase or otherwise directly acquire Common Stock.

 ARTICLE VIII 
 MISCELLANEOUS. 
 8.1. Authority: Effect. Each party
hereto represents and warrants to and agrees with each other party that the execution and delivery of this Agreement and the consummation of the transactions contemplated hereby have been duly authorized on behalf of such party and do not violate
any agreement or other instrument applicable to such party or by which its assets are bound. This Agreement does not, and will not be construed to, give rise to the creation of a partnership among any of the parties hereto, or to constitute any of
such parties members of a joint venture or other association. Each of the Company, Giraffe A, Giraffe B and Gymboree will be jointly and severally liable for any payment obligation of the Company, Giraffe A, Giraffe B and Gymboree pursuant to this
Agreement. 
 8.2. Notices. Any notices, requests, demands, claims and other communications required or
permitted to be delivered, given or otherwise provided under this Agreement shall be in writing and shall be (a) delivered or given personally, (b) sent by facsimile, or (c) sent by overnight courier, in each case, to the address (or
facsimile number) listed below: 
 If to the Company: 

Giraffe Holding, Inc. 
 500 Howard Street 
 San Francisco, California 94105

			
	 Attention:
	 	 Chief Executive Officer

	 Facsimile:
	 	 (707) 678-1315

 with a copy to: 

c/o Bain Capital Partners, LLC 
 111 Huntington Avenue 
 Boston, Massachusetts 02199 

			
	 Attention:
	 	 Joshua Bekenstein and Jordan Hitch

	 Facsimile:
	 	 (617) 516-2010

 If to a Bain Fund or an Investor: 

c/o Bain Capital Partners, LLC 
 111 Huntington Avenue 
 Boston, Massachusetts 02199 

			
	 Attention:
	 	 Joshua Bekenstein and Jordan Hitch

	 Facsimile:
	 	 (617) 516-2010

  
 26 

 with a copy to: 

Ropes & Gray LLP 
 The Prudential Towner 
 800 Boylston Street 

Boston, Massachusetts 02199 

			
	 Attention:
	 	 R. Newcomb Stillwell and C. Todd Boes

	 Facsimile:
	 	 (617) 951-7050

 If to an Other Investor or a Manager, to the most recent address of such Other Investor
or Manager shown on the records of the Company. 
 Notice to the holder of record of any shares of capital stock
will be deemed to be notice to the holder of such shares for all purposes hereof. 
 Unless otherwise specified
herein, such notices or other communications will be deemed effective (a) on the date received, if personally delivered, (b) on the date received if delivered by facsimile on a Business Day, or if delivered on other than a Business Day, on
the first Business Day thereafter and (c) 2 Business Days after being sent by overnight courier. Each of the parties hereto will be entitled to specify a different address by giving notice as aforesaid to each of the other parties hereto.

 8.3. Merger; Binding Effect, Etc. This Agreement, together with the Stockholders Agreement, constitute
the entire agreement of the parties with respect to their subject matter, supersede all prior or contemporaneous oral or written agreements or discussions with respect to such subject matter, and will be binding upon and inure to the benefit of the
parties hereto and thereto and their respective heirs, representatives, successors and permitted assigns. Except as otherwise expressly provided herein, no Stockholder or other party hereto may assign any of its respective rights or delegate any of
its respective obligations under this Agreement without the prior written consent of the other parties hereto, and any attempted assignment or delegation in violation of the foregoing will be null and void. 

8.4. Descriptive Headings. The descriptive headings of this Agreement are for convenience of reference only, are
not to be considered a part hereof and will not be construed to define or limit any of the terms or provisions hereof. 
 8.5. Counterparts. This Agreement may be executed in multiple counterparts, each of which will be deemed an original, but all of which taken together will constitute one instrument. 

8.6. Severability. In the event that any provision hereof would, under applicable law, be invalid or unenforceable
in any respect, such provision will be construed by modifying or limiting it so as to be valid and enforceable to the maximum extent compatible with, and possible under, applicable law. The provisions hereof are severable, and in the event any
provision hereof should be held invalid or unenforceable in any respect, it will not invalidate, render unenforceable or otherwise affect any other provision hereof. 

  
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 8.7. No Recourse. Notwithstanding anything that may be expressed or
implied in this Agreement, the Company and each Stockholder covenant, agree and acknowledge that no recourse under this Agreement or any documents or instruments delivered in connection with this Agreement will be had against any current or future
director, officer, employee, general or limited partner, member or stockholder of any Stockholder or of any Affiliate or assignee thereof, as such, whether by the enforcement of any assessment or by any legal or equitable proceeding, or by virtue of
any statute, regulation or other applicable law, it being expressly agreed and acknowledged that no personal liability whatsoever will attach to, be imposed on or otherwise be incurred by any current or future director, officer, employee, partner,
member or stockholder of any Stockholder or of any Affiliate or assignee thereof, as such, for any obligation of any Stockholder under this Agreement or any documents or instruments delivered in connection with this Agreement for any claim based on,
in respect of or by reason of such obligations or their creation. 
 ARTICLE IX 

GOVERNING LAW. 
 9.1. Governing Law. This Agreement and any controversy arising out of or relating to this Agreement will be governed by and construed in accordance with the General Corporation Law of the State of
Delaware as to matters within the scope thereof, and as to all other matters will be governed by and construed in accordance with the internal laws of the State of New York. 

9.2. Consent to Jurisdiction. Each of the parties agrees that all actions, suits or proceedings arising out of,
based upon or relating to this Agreement or the subject matter hereof will be brought and maintained exclusively in the federal and state courts of the State of New York, City of New York, County of New York. Each of the parties hereto by execution
hereof (i) hereby irrevocably submits to the jurisdiction of the federal and state courts in the State of New York, City of New York, County of New York for the purpose of any action, suit or proceeding arising out of or based upon this
Agreement or the subject matter hereof and (ii) hereby waives to the extent not prohibited by applicable law, and agrees not to assert, by way of motion, as a defense or otherwise, in any such action, suit or proceeding, any claim that it is
not subject personally to the jurisdiction of the above-named courts, that it is immune from extraterritorial injunctive relief or other injunctive relief, that its property is exempt or immune from attachment or execution, that any such action,
suit or proceeding may not be brought or maintained in one of the above-named courts, that any such action, suit or proceeding brought or maintained in one of the above-named courts should be dismissed on grounds of forum non
conveniens, should be transferred to any court other than one of the above-named courts, should be stayed by virtue of the pendency of any other action, suit or proceeding in any court other than one of the above-named courts, or that this
Agreement or the subject matter hereof may not be enforced in or by any of the above-named courts. Notwithstanding the foregoing, to the extent that any party hereto is or becomes a party in any litigation in connection with which it may assert
indemnification rights set forth in this Agreement, the court in which such litigation is 

  
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being heard will be deemed to be included in clause (i) above. Each of the parties hereto hereby consents to service of process in any such suit, action or proceeding in any manner permitted
by the laws of the State of New York, agrees that service of process by registered or certified mail, return receipt requested, at the address specified in or pursuant to Section 8.2 hereof is reasonably calculated to give actual notice and
waives and agrees not to assert by way of motion, as a defense or otherwise, in any such action, suit or proceeding any claim that service of process made in accordance with Section 8.2. hereof does not constitute good and sufficient service of
process. The provisions of this Section 9.2. will not restrict the ability of any party to enforce in any court any judgment obtained in a court included in clause (i) above. 

9.3. WAIVER OF JURY TRIAL. TO THE EXTENT NOT PROHIBITED BY APPLICABLE LAW WHICH CANNOT BE WAIVED, EACH PARTY
HERETO HEREBY WAIVES AND COVENANTS THAT IT WILL NOT ASSERT (WHETHER AS PLAINTIFF, DEFENDANT OR OTHERWISE) ANY RIGHT TO TRIAL BY JURY IN ANY FORUM IN RESPECT OF ANY ISSUE OR ACTION, CLAIM, CAUSE OF ACTION OR SUIT (IN CONTRACT, TORT OR OTHERWISE),
INQUIRY, PROCEEDING OR INVESTIGATION ARISING OUT OF OR BASED UPON THIS AGREEMENT OR THE SUBJECT MATTER HEREOF OR IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE TRANSACTIONS CONTEMPLATED HEREBY, IN EACH CASE WHETHER NOW EXISTING OR
HEREAFTER ARISING. EACH PARTY HERETO ACKNOWLEDGES THAT IT HAS BEEN INFORMED BY THE OTHER PARTIES HERETO THAT THIS SECTION 9.3 CONSTITUTES A MATERIAL INDUCEMENT UPON WHICH THEY ARE RELYING AND WILL RELY IN ENTERING INTO THIS AGREEMENT AND THE
TRANSACTIONS CONTEMPLATED HEREBY. ANY PARTY HERETO MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS SECTION 9.3 WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF EACH SUCH PARTY TO THE WAIVER OF ITS RIGHT TO TRIAL BY JURY. 

9.4. Exercise of Rights and Remedies. No delay of or omission in the exercise of any right, power or remedy
accruing to any party as a result of any breach or default by any other party under this Agreement will impair any such right, power or remedy, nor will it be construed as a waiver of or acquiescence in any such breach or default, or of any similar
breach or default occurring later; nor will any such delay, omission nor waiver of any single breach or default be deemed a waiver of any other breach or default occurring before or after that waiver. 

[remainder of page intentionally left blank] 

  
 29 

 IN WITNESS WHEREOF, each of the undersigned has duly executed this
Agreement (or caused this Agreement to be executed on its behalf by its officer or representative thereunto duly authorized) as of the date and year first above written. 

 

					
	 THE COMPANY:
	 	 GIRAFFE HOLDING, INC.

			
		 	 By:
	 	  

		 		 	 Name: Matthew K. McCauley

		 		 	 Title:   Chief Executive Officer

  
 30 

					
	 Giraffe A:
	 	 GIRAFFE INTERMEDIATE A, INC.

			
		 	 By:
	 	  

		 		 	 Name: Matthew K. McCauley

		 		 	 Title:   Chief Executive Officer

  
 31 

					
	 Giraffe B:
	 	 GIRAFFE INTERMEDIATE B, INC.

			
		 	 By:
	 	  

		 		 	 Name: Matthew K. McCauley

		 		 	 Title:   Chief Executive Officer

  
 32 

					
	 Gymboree:
	 	 THE GYMBOREE CORPORATION

			
		 	 By:
	 	  

		 		 	 Name: Matthew K. McCauley

		 		 	 Title:   Chief Executive Officer

  
 33 

					
	 THE INVESTORS:
	 	 GYMBOREE INVESTMENT HOLDINGS, LLC

			
		 	 By:
	 	  

		 		 	 Name: Marko Kivisto

		 		 	 Title:   Director

  
 34 

					
	 THE OTHER INVESTORS:
	 		 	
			
		 	 By:
	 	  

		 		 	 Name:

		 		 	 Title:

  
 35 

					
	 MANAGER:
	 		 	
		 		 	  

		 		 	 Name:

  
 36

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