Document:

Exhibit

Exhibit 4.3

DESCRIPTION OF OUR CAPITAL STOCK

The following is a description of our common stock and preferred stock. For the complete terms of our common stock and preferred stock, please refer to our certificate of incorporation, as amended, and our bylaws, as amended, which have been previously filed with the SEC, and are incorporated by reference. The terms of these securities may also be affected by the General Corporation Law of the State of Delaware. The summary below is qualified in its entirety by reference to our certificate of incorporation and our bylaws, as either may be amended from time to time after the date this description has been filed.

Authorized Capitalization

We have 202,000,000 shares of capital stock authorized under our certificate of incorporation, consisting of 200,000,000 shares of common stock, par value $0.0001 per share, and 2,000,000 shares of preferred stock, of which 100,000 have been designated as Series A Convertible Preferred Stock, par value $0.0001 per share, or Series A Preferred Stock.  Our authorized shares of common stock and preferred stock are available for issuance without further action by our stockholders, unless such action is required by applicable law or the rules of any stock exchange or automated quotation system on which our securities may be listed or traded. If the approval of our stockholders is not so required, our board of directors may determine not to seek stockholder approval.

Common Stock

Holders of our common stock are entitled to such dividends as may be declared by our board of directors out of funds legally available for such purpose, subject to any preferential dividend rights of any then outstanding preferred stock. The shares of common stock are neither redeemable nor convertible. Holders of common stock are not entitled to preemptive or subscription rights to purchase any of our securities under our charter documents.

Each holder of our common stock is entitled to one vote for each such share outstanding in the holder’s name. No holder of common stock is entitled to cumulate votes in voting for directors.

In the event of our liquidation, dissolution or winding up, the holders of our common stock are entitled to receive pro rata our assets that are legally available for distribution, after payments of all debts and other liabilities and subject to the prior rights of any holders of preferred stock then outstanding. All of the outstanding shares of our common stock are, and the shares of common stock issued upon the conversion of any securities convertible into our common stock will be, fully paid and non-assessable.

Our common stock is listed on The NASDAQ Stock Market under the symbol “APPS.” American Stock Transfer is the transfer agent and registrar for our common stock. Its address is 6201 15th Avenue Brooklyn, NY 11219, and its telephone number is (800) 937-5449.

Preferred Stock

Our certificate of incorporation permits us to issue up to 2,000,000 shares of preferred stock in one or more series and with rights and preferences that may be fixed or designated by our board of directors without any further action by our stockholders.

Subject to the limitations prescribed in our certificate of incorporation and under Delaware law, our certificate of incorporation authorizes the board of directors, from time to time by resolution and without further stockholder action, to provide for the issuance of shares of preferred stock, in one or more series, and to fix the designation, powers, preferences and other rights of the shares and to fix the qualifications, limitations and restrictions thereof. Although our board of directors has no present intention to issue any additional preferred stock, the issuance of preferred stock could adversely affect the rights of holders of our common stock, including with respect to voting, dividends and liquidation, by issuing shares of preferred stock with certain voting, conversion and/or redemption rights. Such issuance of preferred stock may have the effect of delaying, deferring or preventing a change of control.

Exhibit 4.3

Preferred stock could thus be issued quickly with terms calculated to delay or prevent a change in control of our company or to make removal of management more difficult. Additionally, the issuance of preferred stock may decrease the market price of our common stock. The number of authorized shares of preferred stock may be increased or decreased, but not decreased below the number of shares then outstanding plus the number of such shares reserved for issuance upon the exercise of outstanding options, rights or warrants or upon the conversion of any other outstanding securities issued by us that are convertible into or exercisable into preferred stock, by the affirmative vote of the holders of a majority of our common stock without a vote of the holders of preferred stock, or any series of preferred stock, unless a vote of any such holder is required pursuant to the terms of such series of preferred stock.

Series A Convertible Preferred Stock

We currently have 100,000 shares of our Series A Preferred Stock designated, and as of December 31, 2018, we had 100,000 shares of our Series A Preferred Stock outstanding. While shares of our Series A Preferred Stock are outstanding, holders of the Series A Preferred Stock are entitled to receive any dividends if and when declared by the Company’s board of directors on the Company’s common stock on an as-converted basis.

The Series A Preferred Stock is convertible at any time at the option of the holder into shares of our common stock based on dividing the original purchase price plus the amount of any accumulated but unpaid dividends, by the conversion price then in effect (as may be adjusted).

The Series A Preferred Stock is entitled to vote together with the common stock as a single class (on an as-converted to common stock basis) on any matters submitted to the holders of the Company’s common stock, together with any other voting rights provided to the Series A Preferred under law or the General Corporation Law of the State of Delaware.

The Series A Preferred Stock is entitled to receive, prior and in preference to our common stock or any other class designated as junior to the Series A Preferred Stock, upon liquidation, dissolution or winding up of the Company, whether voluntary or involuntary, or in the event of its insolvency, an amount per share equal to the greater of (i) $10.00 per share of Series A Preferred Stock (subject to certain adjustments) or (ii) such amount per share as would have been payable had the Series A Preferred Stock been converted into our common stock immediately prior to such liquidation, dissolution or winding up. Each holder of Series A Preferred Stock also has the right to a cash-out election in the event of certain transactions, including a consolidation or merger of the Company (excluding a transaction involving a reincorporation or a merger with a wholly-owned subsidiary), a sale of all or substantially all of the assets of the Company, the issuance by the Company in a single or integrated transaction shares of common stock (or securities convertible into common stock) representing a majority of the shares of common stock outstanding immediately following such issuance, or any other form of acquisition where the Company is the target and a change of control occurs such that the acquirer has the power to elect a majority of the Company’s board of directors.

Exhibit 4.3

Anti-Takeover Effects of Certain Provisions of Delaware Law

The following is a summary of certain provisions of Delaware law. This summary does not purport to be complete and is qualified in its entirety by reference to the corporate law of Delaware and our certificate of incorporation and bylaws.

Effect of Delaware Anti-Takeover Statute. We may be subject to Section 203 of the Delaware General Corporation Law, an anti-takeover law. In general, Section 203 prohibits a Delaware corporation from engaging in any business combination with any interested stockholder for a period of three years following the date that the stockholder became an interested stockholder, unless:

		
	•
	prior to that date, the board of directors of the corporation approved either the business combination or the transaction that resulted in the stockholder becoming an interested stockholder;

		
	•
	upon consummation of the transaction that resulted in the stockholder becoming an interested stockholder, the interested stockholder owned at least 85% of the voting stock of the corporation outstanding at the time the transaction commenced, excluding for purposes of determining the number of shares of voting stock outstanding (but not the voting stock owned by the interested stockholder) those shares owned by persons who are directors and officers and by excluding employee stock plans in which employee participants do not have the right to determine whether shares held subject to the plan will be tendered in a tender or exchange offer; or

		
	•
	on or subsequent to that date, the business combination is approved by the board of directors of the corporation and authorized at an annual or special meeting of stockholders, and not by written consent, by the affirmative vote of at least 662⁄3% of the outstanding voting stock that is not owned by the interested stockholder.

 
Section 203 defines “business combination” to include the following:

•any merger or consolidation involving the corporation and the interested stockholder;
		
	•
	any sale, transfer, pledge or other disposition of 10% or more of the assets of the corporation involving the interested stockholder;

		
	•
	subject to certain exceptions, any transaction that results in the issuance or transfer by the corporation of any stock of the corporation to the interested stockholder;

		
	•
	any transaction involving the corporation that has the effect of increasing the proportionate share of the stock of any class or series of the corporation beneficially owned by the interested stockholder; or

		
	•
	the receipt by the interested stockholder of the benefit of any loans, advances, guarantees, pledges or other financial benefits provided by or through the corporation.

In general, Section 203 defines an interested stockholder as any entity or person beneficially owning 15% or more of the outstanding voting stock of the corporation, or who beneficially owns 15% or more of the outstanding voting stock of the corporation at any time within a three-year period immediately prior to the date of determining whether such person is an interested stockholder, and any entity or person affiliated with or controlling or controlled by any of these entities or persons.EX-10.1

 Exhibit 10.1 

Execution Copy 
 INVESTOR RIGHTS
AGREEMENT 
 between 

ACORN HOLDINGS B.V. 

MONDELEZ COFFEE HOLDCO B.V. 

and 
 JDE PEET’S
B.V. 
 For discussion purposes only 

Allen & Overy LLP 

 FOR DISCUSSION PURPOSES ONLY 

CONTENTS 
  

							
	Clause	 	 	  	Page	 
			
	 1.
	 	Definitions and interpretation	  	 	1	 
	 2.
	 	Entry into effect	  	 	1	 
	 3.
	 	Large company regime	  	 	1	 
	 4.
	 	Relationship post-offering	  	 	2	 
	 5.
	 	Related party transactions	  	 	2	 
	 6.
	 	Board	  	 	2	 
	 7.
	 	Information	  	 	7	 
	 8.
	 	Articles of Association, Board Rules, Korea Protocol and related party transaction policy	  	 	8	 
	 9.
	 	Orderly market arrangements	  	 	9	 
	 10.
	 	Term and termination	  	 	11	 
	 11.
	 	TAX	  	 	11	 
	 12.
	 	Notices	  	 	12	 
	 13.
	 	Miscellaneous	  	 	13	 
	 14.
	 	Governing law and dispute resolution	  	 	15	 
		
	 Schedule
	  			
			
	 1.
	 	Definitions and interpretation	  	 	17	 
	 2.
	 	Board Authority Matters	  	 	21	 
	 3.
	 	Articles of Association	  	 	22	 
	 4.
	 	Board Rules	  	 	23	 
	 5.
	 	Korea Protocol	  	 	24	 
	 6.
	 	Related Party Transaction Policy	  	 	25	 

  
 (i) 

 THIS AGREEMENT (the Agreement) is made on 25 May 2020, 

BETWEEN: 
  

	(1)	 Acorn Holdings B.V., a private limited liability company under Dutch law (besloten vennootschap met
beperkte aansprakelijkheid), having its official seat in Amsterdam, the Netherlands, its office address at Oosterdoksstraat 80, 1011 DK Amsterdam, the Netherlands and registered in the Dutch Commercial Register under number 57582041
(Acorn); 

  

	(2)	 Mondelez Coffee HoldCo B.V., a private limited liability company under Dutch law (besloten
vennootschap met beperkte aansprakelijkheid), having its official seat in Amsterdam, the Netherlands, its office address at Wilhelminakanaal Zuid 110, 4903 RA Oosterhout, the Netherlands and registered in the Dutch Commercial Register under
number 62773178 (MDLZ); and 

  

	(3)	 JDE Peet’s B.V., a private limited liability company under Dutch law (besloten vennootschap met
beperkte aansprakelijkheid) (to be converted into a public company under Dutch law and renamed JDE Peet’s N.V.), having its official seat in Amsterdam, the Netherlands, its office address at Oosterdoksstraat 80, 1011 DK Amsterdam, the
Netherlands, and registered in the Dutch Commercial Register under number 73160377 (the Company). 

 The parties numbered
(1) and (2) are referred to collectively as the Shareholders and individually as a Shareholder. The parties to this Agreement are hereinafter also jointly referred to as the Parties and each individually as a Party.

 IT IS HEREBY AGREED AS FOLLOWS: 
  

	1.	 DEFINITIONS AND INTERPRETATION 

In this Agreement, unless where explicitly provided otherwise, capitalised words and expressions have the meanings set out in Schedule 1. 

 

	2.	 ENTRY INTO EFFECT 

Except for clause 1, this clause 2, clause 12.1 and clause 14, which will be effective upon execution of this Agreement, this Agreement will be
conditional upon and only enter into effect on the occurrence of the First Trading Date and shall thereafter continue until terminated pursuant to clause 10. 
  

	3.	 LARGE COMPANY REGIME 

The parties acknowledge and agree that (a) the Company will act as the holding company of the Company Group and will not apply the large
company regime (structuurregime) and (b) no Group Company will apply the large company regime (structuurregime) unless required to do so under Dutch law (in which case, the parties must agree the manner in which that regime is
implemented so as to ensure that their rights set out in this Agreement are preserved and not adversely impacted in any respect. 

  
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	4.	 RELATIONSHIP POST-OFFERING 

General 
  

	4.1	 Except to the extent required to comply with applicable Law, and without prejudice to clause 8.4, the
Shareholders shall not (and shall procure that their Affiliates do not) exercise any of their voting or other shareholder rights and powers to procure or vote in favour of any amendment to the Articles of Association that would be inconsistent with
any of the provisions of this Agreement. 

  

	4.2	 For the avoidance of doubt, nothing which a Party is required to do or omit to do to comply with its
obligations, or in the exercise or enforcement of any of its rights, under or pursuant to this Agreement shall constitute a breach of this clause 4. 

  

	5.	 RELATED PARTY TRANSACTIONS 

 

	5.1	 The Parties acknowledge the importance of, and shall ensure that, Related Party Transactions (as defined in the
Related Party Transaction Policy), including transactions between the Company and its subsidiaries, on the one hand, and any Related Party (as defined in the Related Party Transactions Policy) on the other hand, shall be on arms’ length terms
and shall be dealt with in accordance with the applicable legal, accounting and disclosure framework. Accordingly, the Company shall on or prior to the point at which MDLZ first holds shares in the Company (the Effective Date) (which is
expected to be shortly before the Settlement Date) have adopted the related party transactions policy in the agreed form attached as Schedule 6 (the Related Party Transactions Policy). 

 

	5.2	 Subject to clause 8.5, an amendment of the Related Party Transactions Policy requires the approval of the
Board, including the affirmative vote of at least one Independent Board Member. No amendment of the Related Party Transactions Policy shall be proposed that would contravene, or be contrary to, any provision of this Agreement.

  

	6.	 BOARD 

Designation rights 
  

	6.1	 As from the Effective Date, and subject to clauses 6.2, 6.8 and 6.12, MDLZ shall have the right to designate
two individuals for nomination by the Board and appointment by the General Meeting as non executive directors on the Board. 

  

	6.2	 If MDLZ and its Affiliates (taken together) at any time beneficially own less than 8% but greater than 5% of
the Shares, then the number of directors on the Board MDLZ shall be entitled to designate shall be reduced to one. 

  
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	6.3	 The first two non-executive directors designated by MDLZ are Nelson
Urdaneta and Gerd Pleuhs. 

  

	6.4	 If a Board member appointed upon the designation of MDLZ resigns or is to be replaced, MDLZ may designate a
replacement in writing to the Company (addressed to the attention of the Board). The Board will nominate such replacement for appointment by the next annual General Meeting (or, if earlier, the next extraordinary General Meeting (which the Company
shall be obliged to convene for this purpose if MDLZ so requests)) and shall determine that such replacement will temporarily occupy the vacant seat pursuant to the Articles of Association until the appointment by such General Meeting. At each
relevant General Meeting, Acorn will vote in favour of the appointments under clause 6.1 and this clause 6.4. 

 Board
Authority matters 
  

	6.5	 For so long as MDLZ and its Affiliates at any time beneficially own at least 13% of the Shares, each of the
matters set forth in Schedule 2 shall be matters that must be considered and resolved upon by the Board at a duly convened meeting of the Board (the Board Authority Matters). 

 

	6.6	 If at any time, MDLZ and its Affiliates (taken together) beneficially own less than 13% of the Shares but
greater than 5% of the Shares, then the Board Authority Matters shall automatically and without any further action be amended to include only the following matters: 

 

	 	(i)	 any issuance of shares of the Company or securities convertible or exchangeable for such shares, including
options or other equity awards exercisable for such shares (other than options or other equity awards granted to officers or directors of the Company that have been authorized by the Board’s Remuneration, Selection and Appointment Committee or
any other special committee authorized to issue such awards); 

  

	 	(ii)	 the declaration or payment of (or the proposal to a General Meeting of shareholders of the Company to declare)
any dividend or other distribution with regard to any security of the Company; 

  

	 	(iii)	 a key transaction having material financial implications for the Company Group, including material mergers and
acquisitions; 

  

	 	(iv)	 the making of a material change in the nature of the Company Group’s business; 

 

	 	(v)	 the adoption or amendment of any strategic business plan or annual budget (or equivalent);

  

	 	(vi)	 the proposal to a General Meeting of shareholders of the Company to appoint or replace the Auditor;

  
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	 	(vii)	 the approval of the Company’s annual and semi-annual consolidated financial statements (and any other
financial statements released to the public); 

  

	 	(viii)	 the approval of a material decision relating to a material portion of the Company Group’s workforce (other
than any decision that has been authorized by the any of the Board’s committees duly authorized to take such action); or 

  

	 	(ix)	 the approval of a decision which may have a material implication for the reputation of the Company Group;

 provided, further, after MDLZ and its Affiliates own less than 5% of the Shares, the Board Authority Matters shall
automatically and without any further action be deleted in their entirety (it being noted that the board of the Company will continue to consider those matters required by the Rules and as would generally be considered by the board of a Dutch listed
company). 
  

	6.7	 The Shareholders shall exercise their voting rights in each General Meeting in respect of the appointment and
dismissal of members of the Board in such a way as to give effect to this clause 6. 

 Expiry of the designation right

  

	6.8	 If MDLZ and its Affiliates (taken together) at any time beneficially own less than 5% of the Shares then the
number of directors on the Board MDLZ shall be entitled to designate shall be reduced to zero. 

  

	6.9	 If MDLZ’s shareholding falls below a threshold set out in clause 6.2 or 6.8, it shall:

  

	 	(i)	 inform the chairman of the Board thereof in writing within five (5) Business Days thereafter; and

  

	 	(ii)	 procure the prompt resignation of one or both of its designated Board members (as required).

  

	6.10	 The Board may resolve, when a position is vacant as a result of a resignation pursuant to clause 6.9, that
either (a) a new candidate will be nominated to fill the vacancy, or (b) the vacancy will not be filled and the total number of Board members will be decreased. 

 

	6.11	 Any designation right that expires as referenced in clause 6.2 or clause 6.8 shall not revive, regardless of
any subsequent increase of the Shareholder’s shareholding. 

  

	6.12	 The Company shall not include the suspension or dismissal of a Board member appointed upon designation by MDLZ
on the agenda for a General Meeting of the Company except (i) in case of gross negligence, wilful misconduct, breach of any applicable laws, an official public incrimination, convictions, sanctions by statutory or regulatory authorities
(including designated professional bodies), fraud or a serious suspicion of fraud, or 

  
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seriously culpable acts (ernstig verwijtbaar handelen) that (x) is supported by evidence and (y) relates to the Company or might reasonably be expected to bring the Company into
disrepute or (ii) when this has explicitly been requested by shareholder(s) of the Company in accordance with Section 2:114a of the Dutch Civil Code, provided that the Company shall not serve any notice on a Board Member appointed by the
Shareholder without consulting, in good faith, with the Shareholder that appointed such Board Member, taking into consideration, in good faith, any such arguments that the Shareholder may raise opposing such suspension or dismissal prior to taking
any decision on such matters. The period of consultation shall be determined by the Board, and shall not be less than 90 days and shall not exceed 180 days. Notwithstanding the above, Acorn will not, and will procure that none of its Affiliates
holding Shares will, make any request of the kind referred to in (ii) above or vote in favour of suspension or dismissal of any Board member nominated by MDLZ, except in the cases referred to in (i) above where the relevant behaviour is
specific to that Board member (rather than related to the Board or a Board committee generally). 

 Board Committees

  

	6.13	 In addition to any other committees which the Board may have from time to time, the Board will have (i) an
audit committee and (ii) a selection, appointment and remuneration committee. 

  

	6.14	 The Company shall ensure that at all times: 

 

	 	a.	 each of the Board committees will consist of at least three (3) members; 

 

	 	b.	 after MDLZ ceases to have any rights under clause 6.16, the chairman of the audit committee shall be
independent within the meaning of the Dutch Corporate Governance Code; and 

  

	 	c.	 the chairman of the Board shall not act as chairman of the audit committee or the selection, appointment and
remuneration committee. 

  

	6.15	 MDLZ shall be represented by one of its designees in all committees of the Board that may be instituted by the
Company to the maximum extent allowed under the Rules. 

  

	6.16	 For so long as MDLZ may designate two members of the Board, to the extent allowed under the Rules, MDLZ shall
be entitled to designate the chair of the audit committee of the Company. If that is not allowed under the Rules, then MDLZ shall nominate a member of the Board who is independent under the Rules as chair of the Audit Committee, provided that if at
any time thereafter, MDLZ is allowed to designate the chairman under the Rules, then it shall be entitled to replace the then serving chairman with its designee. 

Governance and Concert 
  

	6.17	 Subject to clause 6.7, Acorn and MDLZ may prior to a General Meeting from time to time choose to consult each
other and to co-ordinate the exercise of the voting rights attaching to the Shares held by them (and their Affiliates) from time to time in such General Meeting, without being required to agree with each other
in each case on the way such voting rights are exercised. 

  
 5 

	6.18	 Each of Acorn and MDLZ acknowledges and agrees that the Dutch public offer rules as laid down in the Dutch
Financial Supervision Act (Wet op het financieel toezicht) (the FSA) will, as of the First Trading Date, be applicable to the Company and its shareholders. As Acorn and MDLZ will continue to have a combined Voting Interest of more than
30% on the First Trading Date and have made the agreements set out in clause 6.7, Acorn and MDLZ agree to be deemed to jointly have substantial control (gezamenlijke overwegende zeggenschap) over the Company within the meaning of the
FSA and agree to remain qualified as concert parties (in overleg handelende personen) (each a Concert Party and together, a Concert) from the First Trading Date. On this basis, Acorn and MDLZ as well as their ultimate
Controlling persons, benefit from the exemption from the Dutch mandatory offer requirement as laid down in article 5:71 sub 1(i) of the FSA. 

  

	6.19	 Each of Acorn and MDLZ furthermore acknowledges and agrees that if, after the First Trading Date, a Third Party
acquires Control over it and this Agreement is still in effect, such Third Party may be deemed to acquire indirect substantial control (overwegende zeggenschap) over the Company. If such a scenario where such Third Party does acquire indirect
substantial control (overwegende zeggenschap) over the Company, the exemption from the Dutch mandatory offer requirement laid down in article 5:71 sub 1(i) of the FSA that is available to Acorn and MDLZ as well as their ultimate Controlling
persons from the First Trading Date, shall not be available to such Third Party acquiring control. Therefore, the occurrence of a Change of Control in relation to Acorn or MDLZ that results in a Third Party acquiring indirect substantial control
(overwegende zeggenschap) over the Company will result in immediate and automatic termination of the Concert and clauses 6.17 to 6.22 and of clause 6.7, unless maintaining clause 6.7 does not create a requirement for Acorn or MDLZ jointly or
individually to make a public offer (openbaar bod) for any equity securities in the Company in accordance with the Dutch mandatory takeover rules (a “Mandatory Offer”). For the purposes of this clause 6.19, Change of
Control shall mean a Third Party obtaining an interest or position in Acorn or MDLZ (whether directly or indirectly) which allows this Third Party to exercise Control over how Acorn or MDLZ votes its Shares. Each of Acorn and MDLZ shall notify
the other promptly after the occurrence of a Change of Control in respect of itself. 

  

	6.20	 Each of Acorn and MDLZ also acknowledges and agrees that if during the term of this Agreement their combined
Voting Interest drops below 30% for whatever reason, they will no longer benefit from the exemption from the Dutch mandatory offer requirement as laid down in article 5:71 sub 1(i) of the FSA (even if this Agreement is still in force), including in
case Acorn and MDLZ’s combined Voting Interest is subsequently increased above 30%. Therefore, Acorn and MDLZ’s combined Voting Interest dropping below 30% will result in immediate and automatic termination of the Concert and clauses 6.17
to 6.22. 

  
 6 

	6.21	 Each of Acorn and MDLZ acknowledges and agrees that as a result of the Concert, they are required under section
5.3 of the FSA to notify their holdings in the Company on a combined and aggregated basis to the AFM. Against this background, each of Acorn and MDLZ will promptly inform the other after having entered into any transaction in securities in relation
to the Company, and each will provide the other with details that are reasonably required to jointly assess whether notification in accordance with section 5.3 of the FSA must be made that one or more of the applicable notification thresholds has
been reached or crossed. 

  

	6.22	 If Acorn or MDLZ or any of their respective Affiliates (whether acting alone or as a part of a consortium)
makes a public offer for any equity securities in the Company (whether voluntarily or as a Mandatory Offer), announces its intention and/or the requirement to launch such an offer, or does anything (or omits to do anything) that creates a
requirement for Acorn or MDLZ jointly or individually to make a Mandatory Offer, this will result in the immediate and automatic termination of the Concert and clauses 6.17 to 6.22 of clause 6.7 (unless maintaining clause 6.7 does not create a
requirement for MDLZ jointly or individually to make Mandatory Offer) and of clause 8. For avoidance of doubt this clause 6.22 shall not prevent Acorn and MDLZ from effecting or cooperating with a Change of Control over itself.

  

	7.	 INFORMATION 

  

	7.1	 The Company shall provide to a Shareholder (a) within 60 days after the end of each fiscal year, the
consolidated financial results for the Company Group for such fiscal year (including a profit and loss account, balance sheet, cash flow and statement of other comprehensive income) plus reconciliation from IFRS to US GAAP to the extent
required to satisfy the public reporting requirements of any member of that Shareholder’s Shareholder Group; provided, that such reconciliation shall be performed at such Shareholder’s sole cost (or the Shareholders’ joint cost if
they both need such reconciliation), (b) promptly upon availability, the annual accounts of each member of the Company Group (except where such accounts or audits are not legally required), (c) within 30 days after the end of each fiscal quarter,
interim unaudited consolidated condensed financial results of the Company Group (including a profit and loss account, balance sheet, cash flow and statement of other comprehensive income) plus reconciliation from IFRS to US GAAP to the extent
required to satisfy the public reporting requirements of any member of that Shareholder’s Shareholder Group; provided, that such reconciliation shall be performed at such Shareholder’s sole cost (or the Shareholders’ joint cost if
they both need such reconciliation), and (d) within such time as it is requested, such other financial information or documents in the possession of the Company and any of its Subsidiaries as such Shareholder may reasonably request in writing
in connection with the preparation of the Shareholder Public Filings of any member of that Shareholder’s Shareholder Group. MDLZ and the Company may agree from time to time the approach to be taken by Mondelēz International for reporting
Company financial information in its Shareholder Public Filings in order to ensure compliance with Mondelēz International’s reporting obligations and the Rules. 

  
 7 

	7.2	 The Company and each Shareholder will coordinate the timing of their respective releases for as long as the
information relating to the Company as shown in the Shareholder Public Filings of any member of that Shareholder’s Shareholder Group is material to the Company share price, subject always to the reporting obligations of any member of that
Shareholder’s Shareholder Group. 

  

	7.3	 The Company shall cooperate, and use its reasonable best efforts to cause the Auditor to cooperate, with a
Shareholder to the extent reasonably requested in writing by such Shareholder in the preparation of the Shareholder Public Filings of any member of that Shareholder’s Shareholder Group. The Company agrees to use its reasonable best efforts to
provide to such Shareholder all information that such Shareholder reasonably requests in writing in connection with any Shareholder Public Filings of any member of that Shareholder’s Shareholder Group that, in the reasonable judgment of such
Shareholder upon consultation with its legal counsel, is required to be disclosed or incorporated by reference therein under any Rules (including any stock exchange rules applicable to the relevant member(s) of that Shareholder’s Shareholder
Group). The Company shall use its reasonable best efforts to provide such information to enable each Shareholder to prepare and release all Shareholder Public Filings of any member of that Shareholder’s Shareholder Group on a timely basis. To
the extent required in such filing, the Company shall use its reasonable best efforts to cause the Auditor to consent to any reference to them as experts in any Shareholder Public Filings required under the Rules (including any stock exchange rules
applicable to the relevant member(s) of that Shareholder’s Shareholder Group). The Company shall procure that the Auditor will provide an audit opinion to the Shareholder’s external auditors (or those of any member of its Shareholder
Group) on the Company’s financial statements for each 12-month period beginning on each 1 October and ending on 30 September in the following calendar year; provided, that such audit opinion
shall be prepared at such Shareholder’s sole cost. 

  

	7.4	 The Company will, within 25 days after the end of each fiscal quarter, make the Company’s controller
available for a discussion with a Shareholder with regards to updates to the Company’s business and financial results with respect to such fiscal quarter. 

 

	7.5	 Information will be provided to all members of the Board equally (including the Company directors representing
Shareholders), except to the extent prohibited under the Rules, and the Company directors representing Shareholders may share that information with the relevant Shareholder to the extent necessary to allow it to monitor and evaluate its
participation in the Company; provided, that such Shareholder shall enter into a customary confidentiality agreement with the Company. 

  

	8.	 ARTICLES OF ASSOCIATION, BOARD RULES, KOREA PROTOCOL AND RELATED PARTY TRANSACTION POLICY

  

	8.1	 The Parties shall procure that the Articles of Association will, on or prior to the First Trading Date, be
amended into the agreed form, which is attached hereto as Schedule 3. 

  

	8.2	 The Parties agree that on or prior to the First Trading Date the Board will adopt (1) the Board Rules and
(2) the Korea Protocol in each case in the agreed form attached hereto as Schedule 4 and 5 respectively. 

  
 8 

	8.3	 An amendment of the Articles of Association or the Board Rules can be made in accordance with the Rules and as
described in the relevant document. However, no amendment of the Articles of Association or the Board Rules shall be proposed by a Party that would contravene, or be contrary to, any provision of this Agreement. The Parties shall exercise their
rights in a manner consistent with this Clause 8.3. 

  

	8.4	 The Parties shall do all that is reasonably possible to achieve an amendment of the Articles of Association
and/or the Board Rules if and to the extent such documents contravene, or are contrary to, or inconsistent with, any provision of this Agreement, including, in the case of each Shareholder, exercising its voting or other shareholder rights and
powers to do so (and procuring that any of its relevant Affiliates do the same). 

  

	8.5	 For so long as MDLZ is entitled to designate at least one director to the Board, the Company shall not amend or
terminate the Related Party Transaction Policy or the Korea Protocol (the Policies) without MDLZ’s prior written consent, such consent not to be unreasonably withheld in the case of an amendment required by the Rules; thereafter, the
Policies can be amended or terminated as permitted by the Rules. 

  

	9.	 ORDERLY MARKET ARRANGEMENTS 

Sell Down 
  

	9.1	 At any time after the Lock-up Period, each Shareholder (and any
transferee pursuant to a transfer permitted under clause 13.1) is entitled to sell, transfer or otherwise dispose of any number of Shares, in the open market, through a private sale or otherwise (a Sell Down). 

 

	9.2	 Subject to clause 9.2 and the remainder of this clause 9.2, so long as both Acorn and MDLZ have at least one
representative serving as a member of the Board, if a Shareholder has a bona fide intention to execute a Sell Down in accordance with clause 9.1 (the Selling Shareholder), the Selling Shareholder shall notify the other Shareholder (the
Non-Selling Shareholder) in writing of that intention (an Intent to Sell Notice) at least two Business Days’ in advance of that Sell Down. 

If the Selling Shareholder gives a bona fide Intent to Sell Notice, the Non-Selling Shareholder
may not sell any Shares from receipt of that notice until the earlier of (a) the fifth Business Day following receipt of that notice and (b) the time at which the Selling Shareholder sells the Shares to which that notice relates. For this
purpose, the Selling Shareholder shall notify the Non-Selling Shareholder promptly of the consummation of such sale. 

Once the Selling Shareholder sells the Shares to which the notice relates, it may not serve another Intent to Sell Notice for five Business
Days after the date of that sale. 

  
 9 

 If the Selling Shareholder has not sold all the Shares to which notice relates within 10
Business Days following receipt by the Non-Selling Shareholder of a Intent to Sell Notice: 
  

	 	a.	 the Non-Selling Shareholder shall be entitled to assume that the Sell
Down will not take place; and 

  

	 	b.	 the Selling Shareholder may not serve another Intent to Sell Notice for five Business Days after the expiry of
that 10 Business Day period. 

 The Non-Selling Shareholder shall keep any notice
received under this clause 9.2 confidential. 
 Following receipt of an Intent to Sell Notice, the
Non-Selling Shareholder may notify the Selling Shareholder that it does not wish to receive any further information about the proposed Sell Down to which that notice relates. If the Non-Selling Shareholder does so, the Selling Shareholder must not provide any such information to the Non-Selling Shareholder, other than to notify the Non-Selling Shareholder of the consummation of a sale as required by this clause 9.2 or otherwise as the Non-Selling Shareholder requests. 

 

	9.3	 Clause 9.2 shall not apply to the extent that a Shareholder (or relevant transferee) sells, transfers or
otherwise disposes of Shares: 

  

	 	a.	 by way of acceptance of a public takeover offer, merger or similar business combination in respect of all of
the issued Shares; 

  

	 	b.	 by way of acceptance of a partial public takeover offer in respect of part of the Shares as permitted by Dutch
law; 

  

	 	c.	 to a Permitted Transferee (as defined in clause 13.1); 

 

	 	d.	 pursuant to a compromise or arrangement between the Company and its creditors or any class of them or between
the Company and its members or any class of them, in each case which is agreed to by the creditors or members of the Company; or 

  

	 	e.	 where required by law or competent governmental authority. 

 

	9.4	 Clauses 9.1 to 9.2 confer rights and obligations on the Shareholders only. In particular, the Company will have
no rights or obligations arising out of these clauses. 

  

	9.5	 The Company will cooperate with the selling Shareholder(s) to optimise any Sell Down, including but not limited
to (a) providing reasonable access to information required for a due diligence and drafting of any required documentation, (b) providing assistance in obtaining regulatory, stock exchange and other approvals required for a Sell Down and
(c) being a party to an underwriting agreement containing customary provisions. 

  

	9.6	 Each Party shall ensure that any Sell Down, including communication relating to a Sell Down, will be conducted
in compliance with applicable law, including the Market Abuse Regulation. 

  
 10 

	9.7	 The Company cannot be required to apply for a secondary listing of the Shares. 

Costs and expenses 
  

	9.8	 All fees and expenses in connection with a transfer of Shares by a Shareholder, including all fees and external
expenses incurred by the Company in connection with the preparation of such transfer (including but not limited to the preparation of a prospectus) and fees properly incurred by book runner(s) and their legal advisers (if any), will:

  

	 	(a)	 if the Company does not issue any Shares in conjunction with such transfer (nor transfer Shares held in its own
capital), be borne by the selling Shareholder(s) proportionate to the number of Shares issued or transferred by each of them; or 

  

	 	(b)	 if the Company issues or transfers Shares in conjunction with such transfer, be shared pro rata by the
Company and the selling Shareholder(s), proportionate to the number of Shares issued or transferred by each of them, 

 in
either case, except for any fees and external expenses of the bookrunner appointed at the instruction of the Company, which will be borne by the Company to the extent such fees and external expenses are additionally incurred as a result of such
appointment. 
  

	10.	 TERM AND TERMINATION 

Subject to this Agreement becoming effective pursuant to clause 2, this Agreement (except for Schedules 2 to 4 (inclusive), which remain in
full force and effect unless amended in accordance with their terms), shall: 
  

	 	(a)	 cease to bind a Shareholder that no longer holds, alone or together with any of its Affiliates, a direct or
indirect interest in any Shares, and cease to bind the Company with respect to such Shareholder; and/or 

  

	 	(b)	 terminate if the Settlement Date has not occurred before 31 December 2020, 

in each case without prejudice to rights and obligations accrued prior to such cessation or termination, and subject to clauses 1, 12.2 and 14
(inclusive) remaining in force. 
  

	11.	 TAX 

  

	11.1	 The Company, Acorn, MDLZ and their respective tax advisers shall work cooperatively together, in good faith, to
seek to mitigate all tax effects for each of them (and their respective Affiliates) in connection with the Company Group (including paying dividends from Jacobs Douwe Egberts B.V. and its subsidiaries and Peet’s Coffee and Tea Holdco, Inc. and
its subsidiaries to the Company, and structuring transactions). 

  
 11 

	11.2	 The Company shall assist, and shall use its reasonable best efforts to cause the Company’s and any of its
subsidiaries’ external tax advisors to assist, a Shareholder in preparing any tax return (including, but not limited to, Form 5471) that such Shareholder is required to file with respect to the Company or any other member of the Company Group,
and shall provide such Shareholder with such related information as such Shareholder reasonably requests, within such time as it is requested. 

  

	12.	 NOTICES 

  

	12.1	 All communications and notices required or permitted by this Agreement (a Notice) shall be in writing
and sent by registered mail, courier or e-mail to the following addresses. A Party may change its notice details by giving not less than 5 Business Days written notice of the changes to the other Parties.

  

	
	 If to the Company:

	 JDE Peet’s B.V. / JDE Peet’s N.V. (as appropriate)

	 Attn. Anne-Marie Poliquin

	 Oosterdoksstraat 80

	 1011 DK Amsterdam

	 The Netherlands

	 E-mail: [*]

	
	 If to Acorn:

	 Acorn Holdings B.V.

	 Attn. Joachim Creus

	 Oosterdoksstraat 80

	 1011 DK Amsterdam

	 The Netherlands

	 E-mail: [*]

	
	 If to MDLZ:

	 Mondelēz Coffee HoldCo B.V.

	 Attn. Gerd Pleuhs

	 Wilhelminakanaal Zuid 110

	 4903 RA Oosterhout

	 The Netherlands

	 E-Mail: [*]

  
 12 

	12.2	 Deemed Delivery 

Unless there is evidence that it was received earlier, a Notice is deemed given if: 

 

	 	(a)	 delivered personally or sent by courier, when left at the address referred to in clause 12.1

  

	 	(b)	 sent by pre-paid recorded delivery, at 9:30 a.m. on the second Business
Day after posting it; 

  

	 	(c)	 sent by fax, when confirmation of its transmission has been recorded by the sender’s fax machine; and

  

	 	(d)	 sent by email, when the email is sent to the applicable email address set out in clause 12.1, provided that no
notification of non-delivery is received and (subject to the following sentence) a copy of the Notice is sent by another method referred to in this clause 12.2 within two Business Days of sending the email. If
the sender receives an acknowledgement of receipt (by email) from a recipient of the Notice before the sender sends a copy of the Notice to that recipient by another method, the sender is not required to send a copy of the Notice to that recipient
by another method. 

 Any Notice given outside Working Hours in the place to which it is addressed shall be deemed not to
have been given until the start of the next period of Working Hours in such place where Working Hours means 9:30 a.m. to 5:30 p.m. on a Business Day. 

Each party will instruct the individuals whose email addresses are set out in clause 12.1 (or otherwise to whom notices are to be sent by email
from time to time) to acknowledge receipt of any notice receive by email within one Business Day of receipt. 
  

	13.	 MISCELLANEOUS 

No Assignment 
  

	13.1	 This Agreement is personal to the Parties and accordingly a Party may not assign, transfer or encumber
(goederenrechtelijk onoverdraagbaar en niet te bezwaren), in accordance with Section 3:83 paragraph 2 of the Dutch Civil Code, grant any security interest over or create any trust in respect of, or purpose to assign, transfer, grant any
security interest over or create any trust in respect of any rights or obligations arising under this Agreement without the prior written consent of the other Parties, in respect of which each Party may decide in its own discretion, provided that
each Shareholder may freely assign or transfer its rights and obligations under this Agreement to a member of its Shareholder Group (each a Permitted Transferee), but only together with all or part of its Shares and provided such new holder
of Shares shall become a party to this Agreement by entering into a deed of adherence and that if such new holder ceases to be a member of the transferring Shareholder’s Shareholder Group, it shall transfer the shares back to the transferring
Shareholder or to another member of the same Shareholder Group prior to such cessation. For purposes of calculation of the percentages under clauses 6.2, 6.5, 6.6, 6.8, 6.16, 6.18 and 6.20, the Shares held by any Permitted Transferee shall be deemed
to be held by the Shareholder that transferred its Shares to such Permitted Transferee. 

  
 13 

 Costs and expenses 

 

	13.2	 Unless explicitly provided otherwise in this Agreement, the Parties shall each bear their own costs, charges
and expenses incurred in relation to this Agreement. 

 No rescission 

 

	13.3	 Each Party hereby waives, to the extent permitted by law, the right to partially or wholly rescind
(ontbinden) or partially or wholly nullify (vernietigen) or otherwise terminate this Agreement. The Parties hereby agree to exclude the applicability of Section 6:230, paragraph 2 of the Dutch Civil Code. 

Several and not joint liability 
  

	13.4	 Any provision of this Agreement which is expressed to bind more than one person shall bind them severally and
not jointly or jointly and severally, unless it is expressly provided otherwise. Breach of this Agreement by one Party shall not constitute a breach of this Agreement by another Party. 

Severability 
  

	13.5	 If a provision of this Agreement is or becomes invalid or non-binding,
the Parties shall remain bound by the remaining provisions. In that event, the Parties shall replace the invalid or non-binding provision by provisions that are valid and binding and that have, to the greatest
extent possible, a similar effect as the invalid or non-binding provision, given the contents and purpose of this Agreement. 

No implied waiver 
  

	13.6	 Nothing shall be construed as a waiver under this Agreement unless a document to that effect has been signed by
the Parties or a notice to that effect has been given. 

  

	13.7	 The failure of a Party to exercise or enforce any right under this Agreement shall not constitute a waiver of
the right to exercise or enforce such right in the future. 

 Entire agreement 

 

	13.8	 This Agreement, together with any documents referred to herein, contains the entire agreement between the
Parties relating to its subject matter and replaces and supersedes any previous written or oral agreement between the Parties in relation to the matters dealt with in this Agreement. 

Amendment 
  

	13.9	 Any amendment or variation of this Agreement is not valid unless and until it is in writing and has been signed
by or on behalf of all Parties. 

  
 14 

 Counterparts 

 

	13.10	 This Agreement may be entered into in any number of counterparts, all of which taken together shall constitute
one and the same instrument. The Parties may enter into this Agreement by signing any such counterpart. 

  

	14.	 GOVERNING LAW AND DISPUTE RESOLUTION 

 

	14.1	 This Agreement and obligations arising out of or in connection with it are governed by and shall be construed
in accordance with the laws of the Netherlands. 

  

	14.2	 The Parties agree that (i) the Board and/or (ii) the Independent Board Members acting jointly may
enforce this Agreement on behalf of the Company. 

  

	14.3	 Any dispute arising out of or in connection to this Agreement (including any disputes relating to any non-contractual obligations arising out of or in connection with this Agreement) must be finally settled by arbitration in accordance with the rules of the Netherlands Arbitration Institute (Nederlands Arbitrage
Instituut). The arbitral tribunal shall be composed of three arbitrators in accordance with those rules. The place of arbitration will be Amsterdam, the Netherlands. The proceedings will be conducted in the Dutch language. The arbitrators must
make their decision in accordance with the rules of law. 

 – signature page to follow – 

  
 15 

 – Signature page investor rights agreement – 

This Agreement has been signed by the Parties (or their duly authorised representatives) on the date stated on the first page of this Agreement. 

 

					
	 /s/ P.J. Merkus
	 		 	
	Mondelez Coffee HoldCo B.V.	 		 	
	By: P.J. Merkus	 		 	
	Its: Authorized Representative	 		 	
			
	 /s/ J.J.B.C. Creus
	 		 	
	Acorn Holdings B.V.	 		 	
	By: J.J.B.C. Creus	 		 	
	Its: Authorized Representative	 		 	
			
	 /s/ L. Burgers
	 		 	 /s/ L.J. Hoogeveen

	JDE Peet’s B.V.	 		 	JDE Peet’s B.V.
	By: L. Burgers	 		 	By: L.J. Hoogeveen
	Its: Managing Director	 		 	Its: Managing Director

  
 16 

 SCHEDULE 1 

DEFINITIONS AND INTERPRETATION 
  

	1.	 In this Agreement, save where explicitly provided otherwise, capitalised words and expressions have the
following meanings: 

  

			
	Affiliate	  	means, in relation to a person, any parent, subsidiary or any other subsidiaries of any such parent and any other person which Controls, is Controlled by or is under common Control with such person, but excluding any Group Company
in the case where such person is a Shareholder
		
	Agreement	  	means this investor rights agreement
		
	Articles of Association	  	means the articles of association of the Company, in the agreed form set out in Schedule 3, as amended from time to time
		
	Auditor	  	the Company’s independent registered auditor
		
	Board Authority Matters	  	has the meaning given to it in clause 6.5
		
	Board	  	means the one-tier board (raad van bestuur) of the Company
		
	Board Rules	  	means the rules of the Board in the agreed form set out in Schedule 4, as amended from time to time
		
	Business Day	  	means a day on which banks are open for business in Amsterdam and New York (which, for avoidance of doubt, shall not include Saturdays, Sundays and public holidays)
		
	Company	  	JDE Peet’s B.V., (to be converted into a public company under Dutch law and renamed JDE Peet’s N.V. as of Settlement)
		
	Company Group	  	means the Company and its subsidiaries from time to time
		
	Control	  	 means the power of a person (or persons acting in concert) to secure that the affairs of another are conducted directly or indirectly in
accordance with the wishes of that person (or persons acting in concert) including by means of:
  

(a) in the case of a company, being the beneficial owner of more than 50% of the issued share capital of or of the voting rights in that company, or having the
right to appoint or remove a majority of the directors or otherwise control the votes at board meetings of that company by virtue of any powers conferred by the articles of association, shareholders’ agreement or any other document regulating
the affairs of that company; or
  
 (b) in the case of a partnership, being the
beneficial owner of more than 50% of the capital of that partnership, or having the right to control the composition of or the votes of the majority of the management of that partnership by virtue of any powers conferred by the partnership agreement
or any other document regulating the affairs of that partnership,
  
 and Controlling
and Controlled shall be construed accordingly. For these purposes, “persons acting in concert”, in relation to a person, are persons which actively co-operate pursuant to an agreement or
understanding (whether formal or informal) with a view to obtaining, maintaining or consolidating Control of that person

  
 17 

			
		
	Dutch Corporate Governance Code	  	means the Dutch corporate governance code dated 8 December 2016, as amended from time to time
		
	Euronext Amsterdam	  	means Euronext in Amsterdam, a regulated market operated by Euronext Amsterdam N.V.
		
	Financial Year	  	means, in relation to the Company, a financial accounting period of 12 months starting on 1 January and ending on 31 December
		
	First Trading Date	  	means the date that trading in the Shares on an as-if-and-when-delivered basis starts on Euronext
Amsterdam
		
	General Meeting	  	means a general meeting of shareholders of the Company, including any annual general meeting
		
	Governance Policy	  	means the Related Party Transactions Policy, the Korea Protocol and any policy of the Company published on the website of the Company on the Settlement Date
		
	Governmental Authority	  	means any foreign, United States federal or state, regional or local legislative, executive or judicial body or agency, any court of competent jurisdiction, any department, commission, political subdivision or other governmental
entity or instrumentality, or any arbitral authority, in each case, whether domestic or foreign
		
	Group Company	  	means any company in the Company Group
		
	Independent Board Member	  	means a Board member who is considered to be independent in accordance with best-practice provision 2.1.8 of the Dutch Corporate Governance Code
		
	Law	  	means all civil and common law, statue, subordinate legislation, treaty, regulations, directive, decision, by-law, ordinance, code, order, decree, injunction or judgment of any government,
quasi-government, statutory, administrative ore regulatory body, court or agency
		
	Lock-Up Period	  	means the 180 day period following Settlement in relation to which the Shareholders will undertake towards the underwriters of the Offering not to transfer any Shares to a third party
		
	Market Abuse Regulation	  	means Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse
		
	Mondelēz International	  	means Mondelez International, Inc.
		
	Notice	  	has the meaning given to it in clause 12.
		
	Offering	  	means the initial public offer of existing Shares by the Shareholders
		
	Party	  	means a party to this Agreement, including, for the avoidance of doubt, a new holder of Shares who becomes a party to this Agreement in accordance with clause 13.1
		
	Permitted Transferee	  	has the meaning given to it in clause 13.1

  
 18 

			
		
	Prospectus	  	means the Company’s prospectus with respect to the Offering dated on or around the date of this Agreement
		
	Rules	  	all laws and regulations, including the Dutch Corporate Governance Code and stock exchange rules applicable to the Company
		
	Sell Down	  	has the meaning given to it in clause 9.1
		
	Settlement	  	means payment (in euro) for, and delivery of, the Shares offered in the Offering
		
	Settlement Date	  	means the date on which Settlement occurs, which is expected to be on or about 8 April 2020, subject to acceleration or extension of the timetable for the Offering
		
	Shareholder	  	means Acorn or MDLZ (collectively referred to as the Shareholders)
		
	Shareholder Group	  	means the respective subsidiaries and group companies of a Shareholder, excluding any member of the Company Group
		
	Shareholder Public Filings	  	public earnings releases or other press releases, Current Reports on Form 8-K, Annual Reports to shareholders, Annual Reports on Form 10-K, Quarterly
Reports on Form 10-Q and any other proxy, information and registration statements, reports, notices, prospectuses and any other filings made with the SEC or any other Governmental Authority (or required to be
made by any Governmental Authority), including unaudited quarterly financial statements and annual audited financial statements
		
	Shares	  	means the issued ordinary shares in the share capital of the Company from time to time, for the avoidance of doubt excluding treasury shares
		
	Third Party	  	shall mean, any person (or group) that is neither a Party or an Affiliate of a Party nor a member of the Company Group
		
	Voting Interest	  	of a Party at a particular time shall mean the aggregate number of votes exercisable at a General Meeting by such Party and its Affiliates, including votes exercisable by such Party and its Affiliates pursuant to a power of
attorney, transfer of voting rights or otherwise

  

	2.	 In this Agreement, unless specified otherwise: 

 

	 	(a)	 (i) a subsidiary of an undertaking (A) is to any other undertaking, the business affairs of
which can be directed by A either directly or indirectly, alone or together with group entities, through the exercise or non-exercise of any voting power in any meeting of shareholders or in any meeting of
managing directors (bestuur) or supervisory directors (raad van commissarissen) (if any) or managers or otherwise, whether by agreement or otherwise; and (ii) a parent of an undertaking (B) is to any other
undertaking who can direct the business affairs of B either directly or indirectly, alone or together with group entities, through the exercise or non-exercise of any voting power in any meeting of
shareholders or in any meeting of managing directors (bestuur) or supervisory directors (raad van commissarissen) (if any) or managers or otherwise, whether by agreement or otherwise; (iii) a parent shall be treated as the parent
of undertakings in relation to which any of its subsidiaries are, or are to be treated, as parents, and references to subsidiaries shall be construed accordingly; and (iv) a wholly owned undertaking of another undertaking
(C) includes an undertaking that C would own 100% of the shares or voting rights in, but for that undertaking having one or more nominee shareholders for legal, regulatory or administrative reasons; 

  
 19 

	 	(b)	 a clause or Schedule means a clause (including all subclauses), a recital or a schedule in or to
this Agreement; 

  

	 	(c)	 the recitals and Schedules form an integral part of this Agreement and shall have the same force and effect as
if expressly set out in the body of this Agreement and a reference to this Agreement includes the recitals and Schedules; 

  

	 	(d)	 the headings are included for convenience of reference only and shall not affect the interpretation of this
Agreement or of any provisions thereof; 

  

	 	(e)	 legal terms refer to Dutch legal concepts only; references to legal terms or concepts apply even where the
concept referred to by such term does not exist outside the Netherlands and, if necessary, shall include a reference to the term in that jurisdiction outside the Netherlands that most approximates the Dutch term; 

 

	 	(f)	 the words include, includes and including shall be deemed to be followed by the phrase without limitation and
interpreted accordingly; and 

  

	 	(g)	 the singular includes the plural and vice versa, and use of one gender includes any other.

 *** 

  
 20

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