Document:

EX-10.5

 Exhibit 10.5 

SEPARATION AGREEMENT 

AMERICAN RESIDENTIAL PROPERTIES, INC., a Maryland corporation, AMERICAN RESIDENTIAL PROPERTIES OP, L.P., a Delaware limited partnership,
AMERICAN RESIDENTIAL PROPERTIES GP, LLC, a Delaware limited liability company, AMERICAN RESIDENTIAL PROPERTIES TRS, LLC, a Delaware limited liability company, and AMERICAN RESIDENTIAL LEASING COMPANY, LLC, a Delaware limited liability company
(collectively, “Company”) and ANDREW G. KENT (“Executive”) enter into the following Separation Agreement (“Agreement”). As used in this Agreement, the term “Parties” refers collectively to the Company and
Executive and the term “Party” refers individually to the Company or Executive. 
 WHEREAS, the Parties entered into an Employment
Agreement, effective January 1, 2013 (“the Employment Agreement”), a copy of which is attached hereto; 
 WHEREAS, under the
Employment Agreement, Executive has served the Company as its Senior Vice President for Investments, its Chief Compliance Officer, its General Counsel and its Secretary; 

WHEREAS, the Parties now desire amicably to dissolve the employment relationship established in the Employment Agreement; 

THEREFORE, the Parties agree as follows: 

1. SEPARATION BENEFITS. 

a. Salary through Termination Date. The Company will continue to pay Executive his Annual Salary through October 31, 2013
(“the Termination Date”) at the rate in effect as of October 1, 2013. The Company will pay this Annual Salary, less deductions and taxes, on the Company’s regularly scheduled pay days. 

b. Expense Reimbursement. Provided that Executive complies with the Company’s established reporting rules for expenses, the
Company will reimburse Executive for any expenses incurred on behalf of the Company prior to the Termination Date. 
 c. Eligibility for
Benefits through Termination Date. From October 1, 2013 through the Termination Date, Executive will continue to be eligible for the Company’s health insurance and other employee benefits, in accordance with the Company plans and
policies applicable to all other similarly-situated Company employees. 
 d. Severance Pay. In addition to the above, provided that
Executive complies with the terms and conditions of this Agreement, the Company will pay Executive the total sum, less deductions and required tax withholdings, of four hundred thousand U.S. dollars ($400,000.00). This sum includes payment to
Executive for any unused but accrued paid time off. The Company will make this payment in reasonably equal installments, on its regularly scheduled pay days, between the Effective Date of this Agreement, as defined below, and November 1, 2014.

 e. COBRA Benefits. (i) Provided that Executive timely elects continuation coverage
for himself and his covered family members under the Company’s group medical and dental plans as provided by the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”), the Company will pay the monthly COBRA premiums for
coverage for Executive and his covered family members for the eighteen-month COBRA period beginning on November 1, 2013 or until the expiration of such COBRA coverage if earlier than eighteen (18) months. 

(ii) The Company will direct its contracted payroll administrator to make the COBRA premium payments, described above, directly to the
insurer or administrator, as appropriate, as a matter of routine and to continue making such regular premium payments until directed by the Company to stop making such payments. The Company acknowledges that the continuation of health insurance
coverage is essential to this Agreement and is material to Executive’s decision to enter into this Agreement with the Company. The Company will cooperate with Executive to verify continuing coverage for Executive and his covered family members
and to correct any lapse of coverage occurring during the time that Executive is entitled to COBRA premium payments under this Agreement. Executive agrees to bring promptly to the Company’s attention each and any notice he receives of a late
premium payment or of any other issue that threatens to affect his or his family members’ COBRA continuation coverage. 
 (iii) The
Company will cease making these COBRA premium payments if Executive becomes eligible for coverage under an alternative employee benefit plan. Executive agrees to keep the Company informed of his employment status and of any alternative employee
benefit plan for which he becomes eligible during the time that the Company is paying Executive’s COBRA premiums. 
 f. Tax
Reporting. The Company will report all benefits and payments described above on appropriate forms prescribed by the Internal Revenue Service or comparable state or local taxing authorities. All such benefits and payments so reported will be
subject to all applicable income and employment tax withholdings. 
 g. Indemnification Agreement. The Company will remain obligated
to Executive to indemnify Executive in accordance with the terms of that certain Indemnification Agreement made by and between Executive and the Company and effective as of May 14, 2012 (the “Indemnification Agreement”), a copy of
which is attached hereto and incorporated herein by reference. In the event the Company is involved in any legal proceeding involving matters about which Executive has relevant information arising from his employment on behalf of the Company, he
will make himself available at reasonable times and upon reasonable notice for interviews and to participate in the legal proceedings, subject to the terms of the Indemnification Agreement. 

2. RELEASE OF CLAIMS. 
 a.
Executive’s Release. In exchange for the benefits described above, Executive, individually and on behalf of his heirs and assigns, hereby waives and releases the Company and its affiliated entities (as defined in the Employment
Agreement), together with their respective present and former successors, predecessors, assigns, directors, officers, shareholders, supervisors, employees, attorneys, agents, and representatives (hereinafter collectively referred to as
“Released Parties”), from each and every claim of any kind arising up to the date Executive executes this Agreement. 

  
 2 

 The waiver and release apply to all claims, known or unknown, whether negligent or intentional. The waiver and
release include claims arising because of the continued effects of any acts that occurred on or before the date Executive executes this Agreement. Without limiting the generality of the foregoing, the waiver and release apply to any and all matters
which could have been asserted in any state or federal judicial or administrative forum, up to the date Executive executes this Agreement, except as provided herein. Specifically, but not by way of limitation, the waiver and release include all
claims under the Employment Agreement and all claims under the following statutes (in each case as the statute(s) may have been amended) and common law claims: 

 

	 	•	 	Title VII of the Civil Rights Act of 1964. 

  

	 	•	 	Americans with Disabilities Act of 1990 (“ADA”). 

  

	 	•	 	Employee Retirement Income Security Act of 1974 (“ERISA”). 

  

	 	•	 	The Genetic Information Nondiscrimination Act of 2008 (“GINA”). 

  

	 	•	 	Age Discrimination in Employment Act of 1967 (“ADEA”). 

  

	 	•	 	Fair Labor Standards Act (“FLSA”). 

  

	 	•	 	Family and Medical Leave Act of 1993 (“FMLA”). 

  

	 	•	 	Rehabilitation Act of 1973. 

  

	 	•	 	The Affordable Care Act (“ACA”). 

  

	 	•	 	Health Insurance Portability and Accountability Act (“HIPAA”). 

  

	 	•	 	Post-Civil War Reconstruction Acts (42 U.S.C. §§ 1981-1988). 

  

	 	•	 	National Labor Relations Act (“NLRA”). 

  

	 	•	 	The Civil False Claims Act.

	 	•	 	The whistleblower provisions of any federal or state law, including the Sarbanes-Oxley Act (“SOX”) and the Consumer Financial Protection Act of 2010 (“CFPA”). 

 

	 	•	 	The Arizona Civil Rights Act. 

  

	 	•	 	The Arizona Employment Protection Act. 

  

	 	•	 	Any claim in tort, contract, for promissory estoppel, or for violation of the covenant of good faith and fair dealing. 

  

	 	•	 	Any claim under state or local law establishing civil rights or claims for discrimination or retaliation, similar to Title VII, ADEA or ADA. 

 

	 	•	 	Any claim of wrongful discharge against public policy. 

  

	 	•	 	Any claim of retaliation or whistleblower discrimination arising under any federal, state or local law. 

  

	 	•	 	Any federal, state or local law regulating health care or the administration of health care.

 

  
 b. Representations.
Executive represents that he has not filed any claim, complaint or charge with any local, state, or federal agency or enforcement body. Executive agrees that if any claim, complaint or charge is filed, by Executive or any other person or entity,
setting forth any of the claims waived or released in this Agreement, Executive will not be entitled to any recovery other than the benefits set forth in this Agreement. This Agreement does not release any rights or claims with respect to vested
employee benefits and does not release unemployment compensation or workers’ compensation benefits. Notwithstanding any other term of this Agreement, the foregoing waiver and release does not apply to any obligations of the Company to indemnify
Executive in accordance with the Indemnification Agreement or any failure by the Company to so indemnify Executive under the terms thereof. 

  
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 c. The Company’s Release. The Company, as defined above, on behalf of its present and
former successors, predecessors and assigns, hereby waives and releases Executive from each and every claim of any kind arising up to the date the Company executes this Agreement. The waiver and release applies to all claims, known or unknown,
whether negligent or intentional. The waiver and release includes claims arising because of the continued effects of any acts that occurred on or before the date the Company executes this Agreement. Without limiting the generality of the foregoing,
the waiver and release applies to any and all matters which could have been asserted in any state or federal judicial or administrative forum, up to the date the Company executes this Agreement, except as provided herein. 

3. NON-DISPARAGEMENT. Executive agrees that he will not make any disparaging comments about the Company. The Company will direct its
Chief Executive Officer, President, Chief Financial Officer, and Senior Vice President of Operations not to make any disparaging comments about Executive. The Company will discuss the circumstances of Executive’s separation from the
Company’s employment only with Company directors, executives, and employees with a legitimate business reason to know those circumstances and will not authorize any employee other than the Chief Executive Officer, President, Chief Financial
Officer, or Senior Vice President of Operations to make any comment concerning Executive’s separation from the Company’s employment. Executive may direct prospective employers to call any of the Chief Executive Officer, President, Chief
Financial Officer, or Senior Vice President of Operations for information concerning Executive’s separation from employment with the Company and the Company will direct the Chief Executive Officer, President, Chief Financial Officer, and Senior
Vice President of Operations to comment to such prospective employers only that Executive and the Company reached a mutually satisfactory and amicable separation of his employment. Nothing in this Agreement prevents Executive, the Company, or the
Company’s directors, executives, officers or employees from cooperating in any government investigation or testifying in any hearing or legal proceeding related to either of the Parties, pursuant to a lawfully served and enforceable subpoena or
other court order. If Executive receives such a subpoena or court order, or receives notice that such a subpoena or court order will be served upon him, he will notify the Company’s Chief Financial Officer promptly and will cooperate with the
Company in providing time for the Company to respond to, or to resist, the subpoena or court order. 
 4. NON-COMPETITION AND
NON-SOLICITATION. 
 a. Continued Terms of the Employment Agreement. Executive acknowledges that the Employment Agreement contains
a Covenant against Competition and the Parties agree that the Covenant against Competition is effective against Executive for three hundred and sixty (360) days after his Termination Date. The Parties agree that all the terms of section 6 of
the Employment Agreement concerning the Covenant against Competition and the terms of subsections 7.1, 7.2 and 7.3 of the Employment Agreement, concerning the enforcement of section 6 of the Employment Agreement, remain in effect and fully
enforceable and are incorporated by reference into this Agreement. Similarly, the Parties agree that Executive’s agreement to protect the secrecy and confidentiality of Confidential Company Information and his agreement not to solicit or hire
any employee of the Company and not to encourage any employee of the Company to leave the employment or service of the Company, as set forth in section 6 of the Employment Agreement, remain in effect and fully enforceable and are incorporated by
reference into this Agreement. 

  
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 b. Representation. Executive represents that he has complied with section 6.2(dd) of the
Employment Agreement by returning all tangible products and documents (and copies thereof) concerning the Business of the Company (as defined in the Employment Agreement) and its affiliates, to the Company. Executive agrees that this representation
is material to the Company’s decision to enter into this Agreement with Executive. Notwithstanding the foregoing, Executive may retain copies of records relating to Executive’s employment, including his Employment Agreement,
Indemnification Agreement, documentation concerning his LTIP and other employee benefits, and Company personnel records concerning Executive, provided that he continues to keep such information confidential and does not use it in contravention of
Executive’s obligations under section 4.a. of this Agreement or section 6.2 (bb) of the Employment Agreement. 
 c. Contractual
Remedies. If Executive accepts employment, or otherwise acts, in material violation of either his extended Covenant against Competition or his other agreements in section 6.2 of the Employment Agreement, then, in addition to any remedies
available at law or in equity, the Company will have no further obligation to make severance payments under paragraph 1(d) of this Agreement. The Parties agree that the Company also may pursue injunctive relief for any violation of Executive’s
Covenant against Competition or his other agreements in section 6.2 of the Employment Agreement and may pursue such injunctive relief without the requirement of posting a bond. 

5. COMPLETE AGREEMENT. Except for (a) the Indemnification Agreement, (b) the provisions of section 6 of the Employment
Agreement, (c) related provisions concerning the meaning of terms in section 6 of the Employment Agreement, and (d) subsections 7.1, 7.2, and 7.3 of the Employment Agreement concerning the enforcement of section 6 of the Employment
Agreement, all of which remain in full force and effect, this Agreement sets forth the complete agreement between the Parties, including the complete agreement between the Parties concerning Executive’s separation from employment with the
Company and concerning any severance, damages or other payments due Executive or the Company upon Executive’s separation from employment with the Company. No other covenants or representations have been made or relied on by the Parties, and no
other consideration, other than that set forth herein, is due or owing between the Parties. 
 6. CANCELATION OF EQUITY COMPENSATION.
Any Equity Compensation (as that term is defined in the Employment Agreement) previously awarded to Executive, to the extent not vested or to the extent subject to forfeiture restrictions as of October 17, 2013, will be cancelled, and no
forfeiture restrictions on Equity Compensation will lapse as a result of Executive’s separation from employment with the Company. The Parties acknowledge that as of October 17, 2013, the Executive has vested 834 LTIP units that are
non-forfeitable and are convertible to common units and shares of the Company and that notwithstanding anything in this Agreement to the contrary, the Executive retains all of his rights with respect to such vested LTIP units. Other than the sums
described in this Agreement, no salary, annual bonus, cash or equity bonus, incentive award, equity grant, compensation, deferred compensation, or attorney fee is due or owing to Executive in any way or in any amount. 

  
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 7. ARBITRATION. Except with respect to any claims or disputes arising from or relating to
section 6 of the Employment Agreement, any disputes arising under or in connection with this Agreement, including any claims for discrimination, breach of contract, defamation, or any other employment-related dispute, shall be resolved by binding
arbitration, to be held in the greater metropolitan area of Phoenix, Arizona, in accordance with the Employment Arbitration Rules, as amended from time to time, of the American Arbitration Association (the “AAA Rules”). The Company and the
Executive will select an arbitrator in the manner prescribed by the AAA Rules within fifteen (15) days after demand for arbitration is made by a Party. The arbitrator will possess substantive legal experience in the principal issues in dispute
and will be independent of the Company and the Executive. To the extent permitted by applicable law and not prohibited by the Company’s certificate of incorporation and bylaws, the Company will pay the arbitrator fees and the administrative
fees for the arbitration. Each Party will be responsible for his or its own attorney fees and costs, except that, if Executive prevails in the arbitration, as determined by the arbitrator, the Company will reimburse Executive the reasonable expenses
of the Executive, including his reasonable legal fees, incurred in connection with arbitration. Except as may otherwise be agreed in writing by the Parties or as ordered by the arbitrator upon substantial justification shown, the hearing for the
dispute will be held within sixty (60) days of submission of the dispute to arbitration. The arbitrator will render the final award within thirty (30) days following conclusion of the hearing and any required post-hearing briefing or other
proceedings ordered by the arbitrator. The arbitrator will state the factual and legal basis for the award. The decision of the arbitrator will be final and binding and not subject to judicial review, except to the extent provided by the Federal
Arbitration Act. If necessary, the prevailing party may seek to have the decision of the arbitrator enforced by a court of competent subject matter and personal jurisdiction, but entry of such judgment will not be required to make such award
effective. 
 8. INFORMED AND VOLUNTARY AGREEMENT. 

a. Attorney Advice. Executive is hereby advised to consult with an attorney before executing this Agreement and acknowledges that he has
been so advised by the Released Parties. Executive further represents that he has been represented by an attorney of his own choosing in the negotiation of this Agreement and that the Agreement has been negotiated in an arm’s length
transaction. 
 b. Consideration Period. This offer by the Company, represented by the terms of this Agreement, will remain open for
at least twenty-one (21) days, during which time Executive may consider the terms of the Agreement. If the Parties negotiate changes in the terms of this Agreement, those changes will not start a new twenty-one-day period or cause the
twenty-one-day period to reinitialize. Executive may execute this Agreement at any time during the twenty-one-day period. If Executive executes this Agreement before the end of the twenty-one-day period, Executive acknowledges that his decision to
do so has not been induced by any of the Released Parties through fraud, misrepresentation, a threat to withdraw or alter the offer prior to the expiration of the twenty-one-day period, or by offering different terms if the Agreement is signed prior
to the expiration of the twenty-one-day time period. 

  
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 c. Revocation Period. For a period of seven (7) calendar days after executing this
Agreement, Executive has the right to revoke his acceptance of the terms of this Agreement. Executive may revoke the Agreement at any time during the seven-day period by notifying the Company’s Chief Financial Officer, in writing, of
Executive’s desire to revoke the Agreement. If Executive revokes this Agreement within seven (7) calendar days of executing it, the Agreement will be null and void and will not take effect, and the terms of the Employment Agreement will
remain effective. If Executive does not revoke this Agreement within seven (7) calendar days of his executing this Agreement, this Agreement will become effective for all purposes herein on the eighth calendar day after Executive executes the
Agreement. The eighth day following Executive’s execution of this Agreement, provided Executive does not revoke this Agreement during the seven-day revocation period, is referred to herein as the “Effective Date” of this Agreement.
Executive will not receive any payment or benefit under this Agreement, other than his Salary and benefits accrued before the Termination Date, until and unless the Agreement becomes effective under the terms of this subsection. 

d. Knowing and Voluntary Agreement. Executive represents that he has read this Agreement and understands each of its terms. Executive
further represents that no representations, promises, agreements, stipulations, or statements have been made by any Released Party to induce this Agreement, beyond those contained herein. Executive further represents that he voluntarily signs this
Agreement as his own free act, and that he is not acting under any coercion or duress. 
 9. SEVERABILITY. If any provision of this
Agreement should be declared to be unenforceable by any administrative agency or court of law, the remainder of the Agreement shall remain in full force and effect, and shall be binding upon the Parties hereto as if the invalidated provision were
not part of this Agreement. 
 10. BINDING EFFECT. This Agreement is binding upon Executive and upon his estate, family, heirs,
administrators, executors, guardians, conservators, representatives, successors and assigns, and upon Company, its officials, directors, officers, agents, servants, and employees, past and present, and upon the successors or assigns of any of them.
The Company’s obligations hereunder shall not be terminated by reason of any liquidation, dissolution, bankruptcy, cessation of business, or similar event relating to the Company. This Agreement shall not be terminated by any merger or
consolidation or other reorganization of the Company. In the event any such merger, consolidation or reorganization shall be accomplished by transfer of stock or by transfer of assets or otherwise, the provisions of this Agreement shall be binding
upon and inure to the benefit of the surviving or resulting corporation or person. The obligations of the Company under paragraph 1 of this Agreement shall not be affected by the death of the Executive but shall remain in full force and effect for
the entire term hereof. 
 11. NO ADMISSION. Nothing in this Agreement constitutes an admission by either Party of any wrongdoing,
breach, or liability to the other Party. Neither this Agreement nor anything contained herein will be admissible in any proceeding as evidence of, or an admission by either Party, any liability whatsoever. Notwithstanding the foregoing, this
Agreement may be introduced into a proceeding solely for the purposes of enforcing the terms of this Agreement. 
 12. HEADINGS. The
headings contained in this Agreement are solely for convenience and are not to be taken to define or to limit the provisions of this Agreement. 

  
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 13. APPLICABLE LAW. Arizona law, without regard to the principles of conflicts of law, and
federal law, as applicable, will govern the interpretation of this Agreement. Executive and the Company each consents to the exclusive venue and jurisdiction of the state and federal courts located in Phoenix, Arizona, for any lawsuit arising from
or related to this Agreement. 
 14. WAIVERS AND AMENDMENTS. The Parties may amend, supersede, cancel, renew, or extend this
Agreement, and the Parties may waive terms of this Agreement, only by a written instrument signed by the Parties, or, in the case of a waiver, by the Party waiving compliance. No delay on the part of any Party in exercising any right, power or
privilege hereunder shall operate as a waiver thereof, nor shall any waiver on the part of any Party of any such right, power or privilege nor any single or partial exercise of any such right, power or privilege, preclude any other or further
exercise thereof or the exercise of any other such right, power or privilege. 
 15. COUNTERPARTS. The Parties may execute this
Agreement in counterparts and a set of identical counterparts, each executed by one or more of the Parties will constitute one entire Agreement between the Parties. Reasonably legible, electronically scanned images of the Agreement or reasonably
legible photocopies or copies of the Agreement sent by facsimile will be as binding and enforceable as the originals. 
 IN WITNESS WHEREOF,
the undersigned have executed this Separation Agreement on the dates indicated. 
  

							
	ANDREW G. KENT	 		 	 AMERICAN RESIDENTIAL PROPERTIES, INC.

AMERICAN RESIDENTIAL PROPERTIES OP, L.P. AMERICAN RESIDENTIAL PROPERTIES GP, LLC AMERICAN RESIDENTIAL PROPERTIES TRS, LLC

and
 AMERICAN RESIDENTIAL LEASING COMPANY, LLC

				
	 /s/ Andrew G. Kent
	 		 	By:	 	 /s/ Stephen G. Schmitz

	Dated: October 31, 2013	 		 	Their:	 	 Chief Executive Officer

		 		 	Dated:	 	October 31, 2013

  
 8EX-4.1

 Exhibit 4.1 
  

 
 REGISTRATION RIGHTS AGREEMENT

 BY AND AMONG 

OPEN TEXT CORPORATION 

AND 
 THE PRINCIPAL
STOCKHOLDERS (AS DEFINED HEREIN) 
 AND FOR THE BENEFIT OF 

THE HOLDERS (AS DEFINED HEREIN) 

DATED AS OF NOVEMBER 4, 2013 
  

 

 TABLE OF CONTENTS 

 

							
	 ARTICLE I         DEFINITIONS
	  	 	1	  
			
	 Section 1.1
	  	 Defined Terms
	  	 	1	  
	 Section 1.2
	  	 General Interpretive Principles
	  	 	4	  
		
	 ARTICLE II         REGISTRATION RIGHTS
	  	 	5	  
			
	 Section 2.1
	  	 Demand Registration
	  	 	5	  
	 Section 2.2
	  	 Piggyback Registration
	  	 	8	  
	 Section 2.3
	  	 Registration Procedures
	  	 	9	  
	 Section 2.4
	  	 Underwritten Offerings
	  	 	14	  
	 Section 2.5
	  	 No Inconsistent Agreements; Additional Rights
	  	 	15	  
	 Section 2.6
	  	 Registration Expenses
	  	 	15	  
	 Section 2.7
	  	 Indemnification
	  	 	16	  
	 Section 2.8
	  	 Private Sales
	  	 	19	  
	 Section 2.9
	  	 Certificates
	  	 	19	  
		
	 ARTICLE III         MISCELLANEOUS
	  	 	20	  
			
	 Section 3.1
	  	 Term
	  	 	20	  
	 Section 3.2
	  	 Injunctive Relief
	  	 	20	  
	 Section 3.3
	  	 Notices
	  	 	20	  
	 Section 3.4
	  	 Successors, Assigns and Transferees
	  	 	22	  
	 Section 3.5
	  	 Governing Law; Consent to Jurisdiction
	  	 	22	  
	 Section 3.6
	  	 Severability
	  	 	23	  
	 Section 3.7
	  	 Amendment; Waiver
	  	 	23	  
	 Section 3.8
	  	 Counterparts and Electronic Signatures
	  	 	23	  

 REGISTRATION RIGHTS AGREEMENT 

REGISTRATION RIGHTS AGREEMENT (as amended, modified and supplemented from time to time, the “Agreement”), dated as of
November 4, 2013, by and among Open Text Corporation, a corporation incorporated under the laws of Canada (the “Company”), and the other parties named on the signature pages hereto (collectively, the “Principal
Stockholders”), and for the benefit of the Holders (as defined below). 
 RECITALS 

WHEREAS, the Company and certain other parties have entered into an Agreement and Plan of Merger dated as of November 4, 2013 (the
“Merger Agreement”) pursuant to which the Holders have received or will receive shares of common stock, without par value, of the Company (the “Common Stock”); and 

WHEREAS, as an inducement to the parties thereto to enter into the Merger Agreement, the Company has agreed to provide the Holders with the
registration rights set forth in this Agreement. 
 NOW, THEREFORE, in consideration of the foregoing and the mutual covenants and
agreements of the parties hereto, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 

ARTICLE I 
 DEFINITIONS 

Section 1.1 Defined Terms. As used in this Agreement, the following terms shall have the following meanings: 

“Adverse Disclosure” means public disclosure of material non-public information that, in the good faith judgment of the Board
of Directors or the chief executive officer or the chief financial officer of the Company (i) would be required to be made in any Registration Statement or Prospectus filed with the SEC by the Company 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 of such Registration Statement or Prospectus; and (iii) the Company has a bona fide business purpose for not disclosing publicly.

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

“Automatic Shelf Registration Statement” shall have the meaning given thereto pursuant to Rule 405 under the Securities Act.

 “Board of Directors” means the board of directors of the Company. 

“Business Day” shall mean any day except Saturday, Sunday or any other day on which commercial banks in The City of New York
or Toronto are authorized or required by Law to be closed. 

  
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 “Closing Date” shall have the meaning set forth in the Merger Agreement. 

“Common Stock” has the meaning set forth in the recitals hereto. 

“Company” has the meaning set forth in the preamble and shall include the Company’s successors by merger, acquisition,
reorganization, conversion or otherwise. 
 “Company Public Sale” has the meaning set forth in Section 2.2(a). 

“Demand Notice” has the meaning set forth in Section 2.1(b). 

“Demand Period” has the meaning set forth in Section 2.1(e). 

“Demand Registration” has the meaning set forth in Section 2.1(a). 

“Demand Registration Statement” has the meaning set forth in Section 2.1(a). 

“Demand Suspension” has the meaning set forth in Section 2.1(g). 

“DTC” means The Depository Trust Company, or any successor thereto. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and any successor thereto, and any rules and
regulations promulgated thereunder, all as the same shall be in effect from time to time. 
 “FINRA” means the Financial
Industry Regulatory Authority, Inc. 
 “Holder” means any holder of Registrable Securities that (i) is a party hereto,
(ii) acquired Registrable Securities from the Company in connection with the Merger, or (iii) succeeds to rights of a prior Holder hereunder pursuant to Section 3.4. 

“Initiating Holders” has the meaning set forth in Section 2.1(a). 

“Law” means, with respect to any Person, (i) all provisions of all laws, statutes, ordinances, rules, regulations,
permits, certificates or orders of any governmental authority applicable to such Person or any of its assets or property or to which such Person or any of its assets or property is subject, and (ii) all judgments, injunctions, orders and
decrees of all courts and arbitrators in proceedings or actions in which such Person is a party or by which it or any of its assets or properties is or may be bound or subject. 

“Legal Proceeding” means any claim, litigation, action, suit (whether civil, criminal, administrative, judicial or
investigative), audit, hearing, investigation, binding arbitration or mediation or proceeding, in each case commenced, brought, conducted, heard before or otherwise involving any arbitrator, mediator or any foreign, federal, state, provincial, local
or other court, governmental authority, tribunal, commission or regulatory body or self-regulatory body (including any securities exchange), or any political or other subdivision, department, agency or branch of any of the foregoing. 

“Merger” shall have the meaning set forth in the Merger Agreement. 

  
 2 

 “Merger Agreement” has the meaning set forth in the recitals hereto. 

“Person” means any individual, firm, limited liability company or partnership, joint venture, corporation, joint stock
company, trust or unincorporated organization, incorporated or unincorporated association, government (or any department, agency or political subdivision thereof) or other entity of any kind. 

“Piggyback Registration” has the meaning set forth in Section 2.2(a). 

“Principal Stockholders” has the meaning set forth in the preamble hereto. 

“Prospectus” means the prospectus included in any Registration Statement; all amendments and supplements to any prospectus
included in any Registration Statement, including pre- and post-effective amendments; and all other material incorporated by reference in any such prospectus. 

“Registrable Securities” means any Common Stock issued to the Holders pursuant to the Merger Agreement and any securities
that may be issued or distributed or be issuable in respect thereof by way of conversion, dividend, stock split or other distribution, merger, consolidation, exchange, recapitalization or reclassification or similar transaction or exercise or
conversion of any of the foregoing; provided, that any such of the foregoing securities shall cease to be “Registrable Securities” to the extent (i) a Registration Statement with respect to the sale of such Registrable
Securities has been declared effective under the Securities Act, and such Registrable Securities have been disposed of pursuant to such Registration Statement; (ii) such Registrable Securities have been sold pursuant to Rule 144 (or any similar
provisions then in force) under the Securities Act and such securities may be publicly resold in the United States without registration under the Securities Act; (iii) such Registrable Securities shall have been otherwise transferred and/or
shall have been held for such period of time such that the relevant holding period under Rule 144 under the Securities Act shall have been satisfied for the applicable Holder and new certificates for them not bearing a legend restricting transfer
under the Securities Act shall have been delivered by the Company to such Holder, upon receipt by the Company of such documents and/or opinions as the Company may reasonably request, and such securities may be publicly resold in the United States
without Registration under the Securities Act; or (iv) such securities shall have ceased to be outstanding. 

“Registration” means a registration with the SEC with respect to the Company’s securities for offer and sale to the
public under a Registration Statement. The term “Register” shall have a correlative meaning. 
 “Registration
Statement” means any registration statement of the Company filed with, or to be filed with, the SEC under the rules and regulations promulgated under the Securities Act, including the related Prospectus, amendments and supplements to such
registration statement or Prospectus, including pre- and post-effective amendments, and all exhibits and all material incorporated by reference in such registration statement. 

“Representatives” means, with respect to any Person, any of such Person’s officers, directors, employees, agents,
attorneys, accountants, actuaries, consultants, equity 

  
 3 

 
financing partners or financial advisors or other Person associated with, or acting on behalf of, such Person. 

“SEC” means the U.S. Securities and Exchange Commission. 

“Securities Act” means the Securities Act of 1933, as amended, and any successor thereto, and any rules and regulations
promulgated thereunder, all as the same shall be in effect from time to time. 
 “Shelf Registration Statement” means a
Registration Statement of the Company filed with the SEC on Form S-3 (or any successor form or other appropriate form under the Securities Act) for an offering to be made on a continuous or delayed basis pursuant to Rule 415 under the Securities Act
(or any similar rule that may be adopted by the SEC) covering the Registrable Securities, as applicable. 
 “Underwritten
Offering” means a Registration in which securities of the Company (i) are sold to an underwriter or underwriters on a firm commitment basis for reoffering to the public, (ii) are offered to the public via a broker-dealer pursuant
to an equity distribution or similar arrangement or (iii) are otherwise offered to the public in one or more transactions that involve the participation of broker-dealers who may be subject to liability as underwriters under the Securities Act.

 “Well-Known Seasoned Issuer” shall have the meaning given thereto pursuant to Rule 405 under the Securities Act. 

Section 1.2 General Interpretive Principles. 

(a) The meanings of defined terms are equally applicable to the singular and plural forms of the defined terms. 

(b) The words “hereof”, “herein”, “hereunder” and similar words refer to this Agreement as
a whole and not to any particular provision of this Agreement; and any subsection, Section, Exhibit, Schedule and Annex references are to this Agreement unless otherwise specified. 

(c) The term “including” is not limiting and means “including without limitation.” 

(d) The captions, headings and Table of Contents of this Agreement are for convenience of reference only and shall not affect the
interpretation of this Agreement. 
 (e) Whenever the context requires, any pronouns used herein shall include the corresponding masculine,
feminine or neuter forms. 

  
 4 

 ARTICLE II 

REGISTRATION RIGHTS 

Section 2.1 Demand Registration. 

(a) Demand by Holders. Subject to the conditions of this Section 2.1, if the Company shall receive a written request from Holders
of Registrable Securities (the “Initiating Holders”) that the Company file a Registration Statement covering the registration of (x) Registrable Securities having an anticipated aggregate offering price (based on the closing
market price on the Business Day prior to the day on which such request is made) of at least $25,000,000 or (y) all remaining Registrable Securities (each such requested Registration, a “Demand Registration”), the Company shall
deliver a Demand Notice in accordance with Section 2.1(b) and shall use its reasonable best efforts to, no later than the date that is (i) 90 days after the Closing Date and (ii) 30 days after the date of such written request, file a
Registration Statement relating to such Demand Registration (a “Demand Registration Statement”) in a manner to cause it to be an Automatic Shelf Registration Statement; provided, however, that the Company shall be
permitted, without it being deemed to be a Demand Suspension pursuant to Section 2.1(g), in its sole discretion to delay such filing of a Registration Statement (or the subsequent filing of any preliminary Prospectus or Prospectus under such
Registration Statement requested within 15 days of the end of a fiscal quarter) until the date of filing of its next successive periodic report with the SEC (whether such report is a quarterly report on Form 10-Q or annual report on Form 10-K) (such
report, the “Upcoming SEC Filing”) or, if earlier, the date on which the Company would be required under SEC rules to make such Upcoming SEC Filing (including any grace period permitted under Rule 12b-25 under the Exchange Act), as
a result of being required by any such proposed filing to make any Adverse Disclosure. The Company hereby represents to the Holders that it is a Well-Known Seasoned Issuer and is eligible to use Form S-3, that the Shelf Registration Statement will
be an Automatic Shelf Registration Statement and that the Shelf Registration Statement will be effective upon the filing thereof with the SEC. The Registration Statement shall contain a form of Prospectus for secondary and, if desired by the
Company, primary offerings. The Company consents to the use of such Prospectus, as appropriately supplemented in connection with the relevant offering, by the Holders in connection with offers and sales of Registrable Securities subject to, and only
to the extent permitted by, the terms and conditions of this Agreement and the compliance by the Holders with the terms thereof. Each request for a Demand Registration shall specify the aggregate amount of Registrable Securities to be Registered and
the intended methods of disposition thereof. Without limiting the generality of the foregoing, if the Registration Statement is an Automatic Shelf Registration Statement at the time the Company files with the SEC its annual report on Form 10-K (or
on the due date of such report in the event the annual report on Form 10-K is not filed by the due date thereof) and the Company determines that it is no longer a Well-Known Seasoned Issuer, the Company shall amend the Registration Statement to
convert it to the form of registration statement that the Company is then eligible to use. 
 (b) Demand Notice. Within 15 days
following receipt of any request for a Demand Registration pursuant to Section 2.1(a), the Company shall deliver a written notice (a “Demand Notice”) of any such Registration request to all other Holders of Registrable
Securities through their Representative, and the Company shall include in such Demand Registration all 

  
 5 

 
such Registrable Securities with respect to which the Company has received written requests for inclusion therein, provided that all requests therefor have been received by the Company
within 10 days after the date that the Demand Notice was delivered by the Company. All requests made pursuant to this Section 2.1(b) shall specify the aggregate amount of Registrable Securities to be Registered and the intended method of
distribution of such securities. The Company also may elect to include in any such Registration other securities for sale for its own account or for the account of any other Person, so long as the inclusion of such other securities will not, in the
Company’s reasonable judgment, materially impair the Holders’ ability to sell the Registrable Securities included in such Registration Statement. 

(c) Limitation on Demand Registrations. In no event shall the Company be required to effect more than two Demand Registrations in any
twelve month period. In addition, the Company shall not be required to file a Demand Registration Statement at any time during the six-month period following the effective date of another such Demand Registration Statement or a Registration
Statement in connection with a Piggyback Registration. 
 (d) Demand Withdrawal. A Holder may withdraw its Registrable Securities
from a Demand Registration at any time prior to the effectiveness of the applicable Demand Registration Statement. Upon receipt of notices to such effect from all Holders that delivered either a request for Demand Registration pursuant to
Section 2.1(a) or a request for inclusion in such Demand Registration pursuant to Section 2.1(b), with respect to the applicable Demand Registration Statement, the Company shall cease all efforts to secure effectiveness of the applicable
Demand Registration Statement and such Registration nonetheless shall be deemed a Demand Registration for purposes of Section 2.1(c). 

(e) Effective Registration. The Company shall be deemed to have effected a Demand Registration if the Demand Registration Statement is
(i) an Automatic Shelf Registration Statement or (ii) declared effective by the SEC, and such Registration Statement remains effective for not less than 120 days (or such shorter period as will terminate when all Registrable Securities
covered thereby have been sold or withdrawn) (the applicable period, the “Demand Period”). No Demand Registration shall be deemed to have been effected if (i) during the Demand Period, prior to the sale of all Registrable
Securities included in the applicable Demand Registration, such Registration is interfered with by any stop order, injunction or other order or requirement of the SEC or other governmental agency or court and the Company fails to have such stop
order, injunction, or other order or requirement removed, withdrawn or resolved to the reasonable satisfaction of the applicable Holders within 30 days after the date of such order or (ii) the conditions to closing specified in the underwriting
agreement, if any, entered into in connection with such Registration are not satisfied by reason of a failure by the Company to satisfy, in all material respects, the conditions to closing that relate to the required performance of any act by the
Company or the Company has suffered a “material adverse change” (or similar term in the applicable underwriting agreement) affecting the Company or its business, to the extent the absence of such a material adverse change is a condition to
closing thereunder. 
 (f) Registration Statement Form. Registrations under this Section 2.1 shall be, (i) so long as the
Company is a Well-Known Seasoned Issuer, an Automatic Shelf Registration Statement, or (ii) otherwise, on such appropriate registration form of the SEC (x) as shall be selected by the Company and (y) as shall permit the disposition of
the Registrable 

  
 6 

 
Securities in accordance with the intended method or methods of disposition specified in the applicable Holders’ requests for such Registration. 

(g) Delay in Filing; Suspension of Registration. If the filing, initial effectiveness or continued use of a Demand Registration
Statement at any time would require the Company to make an Adverse Disclosure or would require the inclusion in such Registration Statement of financial statements that are unavailable to the Company for reasons beyond its control, the Company may,
upon giving prompt written notice of such action to the Holders through their Representative, delay the filing or initial effectiveness of, or suspend use of, the Demand Registration Statement (a “Demand Suspension”);
provided that the Company shall not be permitted to exercise a Demand Suspension (i) more than two times during any 12-month period, or (ii) for a period exceeding 120 days on any one occasion. In the case of a Demand Suspension,
the Holders agree to promptly suspend use of the applicable Prospectus in connection with any sale or purchase, or offer to sell or purchase, Registrable Securities, upon receipt of the notice referred to above and agree not to disclose to any other
Person the fact that the Company has exercised such rights or any related facts. If the Company so delays the filing or initial effectiveness of, or suspends the use of, as applicable, such Demand Registration Statement, such Registration request
shall not count for the purposes of the limitations set forth in Section 2.1(c). 
 (h) Underwritten Offering. If the Initiating
Holders intend to distribute the Registrable Securities covered by their request by means of an Underwritten Offering, they shall so advise the Company as a part of their request made pursuant to this Section 2.1 and the Company shall include
such information in the Demand Notice. The right of any Holder to include such Holder’s Registrable Securities in such Registration shall be conditioned upon such Holder’s participation in such Underwritten Offering and the inclusion of
such Holder’s Registrable Securities in the Underwritten Offering to the extent provided herein. In the event such offering of Registrable Securities is in the form of an Underwritten Offering, the Holders of a majority of the Registrable
Securities included in such Underwritten Offering shall have the right to select a co-managing underwriter who shall be reasonably acceptable to the Company, subject to the right of the Company to select a co-managing underwriter reasonably
acceptable to such Holders, to jointly administer the offering. 
 (i) Priority of Securities Registered Pursuant to Demand
Registrations. If the managing underwriter or underwriters of a proposed Underwritten Offering of the Registrable Securities included in a Demand Registration advise the Company that, in its or their opinion, the number of securities requested
to be included in such Demand Registration (including securities of the Company for its own account or for the account of other Persons which are not holders of Registrable Securities) exceeds the number which can be sold in such offering without
being likely to have a significant adverse effect on the price, timing or distribution of the securities offered or the market for the securities offered, the Company will include in such Registration all of the Registrable Securities requested to
be Registered therein and only such lesser number of other securities as shall not, in the opinion of the managing underwriter or underwriters be likely to have such an effect. In the event that, despite the reduction of the number of shares of
securities to be offered for the account of the Company or Persons other than Holders of Registrable Securities in such Registration pursuant to the immediately preceding sentence, the number of Registrable Securities of such class to be included in
such Registration exceeds the 

  
 7 

 
number which, in the opinion of the managing underwriter or underwriters, can be sold without having the adverse effect referred to above, the number of Registrable Securities to be included in
such Demand Registration shall be allocated pro rata among the Holders that have requested to participate in such Demand Registration on the basis of the relative number of Registrable Securities then held by each such Holder, to the
extent necessary to reduce the total number of Registrable Securities to be included in such offering to the number recommended by the managing underwriter or underwriters; provided that any securities thereby allocated to a Holder that
exceed such Holder’s request shall be reallocated among the remaining requesting Holders in like manner. 
 Section 2.2
Piggyback Registration. 
 (a) Participation. If, at any time following the Closing Date, the Company proposes to file a
registration statement under the Securities Act with respect to any offering of its securities for its own account or for the account of any other Persons (other than (i) a Registration under Section 2.1, (ii) a Registration on Form
S-4 or S-8 or any successor form to such Forms, (iii) a Registration of securities solely relating to an offering and sale to employees or directors of the Company pursuant to any employee stock plan or other employee benefit plan arrangement,
or (iv) a Registration pursuant to a dividend reinvestment plan) (a “Company Public Sale”), then, as soon as practicable (but in no event less than 20 days prior to the proposed date of filing of such Registration Statement),
the Company shall give written notice of such proposed filing to the Holders of Registrable Securities through their Representative, and such notice shall offer the Holders of such Registrable Securities the opportunity to Register under such
Registration Statement such number of Registrable Securities as each such Holder may request in writing (a “Piggyback Registration”). Subject to Section 2.2(b), the Company shall include in such Registration Statement all such
Registrable Securities that are requested to be included therein within 10 days after the receipt by such Holder of any such notice. If at any time after giving written notice of its intention to Register any securities and prior to the effective
date of the Registration Statement filed in connection with such Registration, the Company shall determine for any reason not to Register or to delay Registration of such securities, the Company may, at its election, give written notice of such
determination to each Holder of Registrable Securities through the Representative of the Holders and, (x) in the case of a determination not to Register, shall be relieved of its obligation to Register any Registrable Securities in connection
with such Registration, and (y) in the case of a determination to delay Registering, shall be permitted to delay Registering any Registrable Securities for the same period as the delay in Registering such other securities. If the offering
pursuant to such Registration Statement is to be underwritten, then each Holder making a request for a Piggyback Registration pursuant to this Section 2.2(a) must, and the Company shall make such arrangements with the managing underwriter or
underwriters so that each such Holder may, participate in such Underwritten Offering. If the offering pursuant to such Registration Statement is to be on any other basis, then each Holder making a request for a Piggyback Registration pursuant to
this Section 2.2(a) must, and the Company shall make such arrangements so that each such Holder may, participate in such offering on such basis. Each Holder of Registrable Securities shall be permitted to withdraw all or part of such
Holder’s Registrable Securities from a Piggyback Registration at any time prior to the effectiveness of such Registration Statement; provided, however, that the Company shall be entitled to reimbursement from the Holder of such
withdrawn Registrable Securities for all SEC registration fees incurred by the Company in connection with the 

  
 8 

 
registration of such withdrawn Registrable Securities, to the extent those fees cannot otherwise be used by the Company for future offerings. 

(b) Priority of Piggyback Registration. If the managing underwriter or underwriters of any proposed Underwritten Offering of
Registrable Securities included in a Piggyback Registration informs the Company (or in the case of a Piggyback Registration not being underwritten, the Company determines) that, in its or their opinion, the number of securities which such Holders
and any other Persons intend to include in such offering exceeds the number which can be sold in such offering without being likely to have a significant adverse effect on the price, timing or distribution of the securities offered or the market for
the securities offered, then the securities to be included in such Registration shall be (i) first, 100% of the securities that the Company or any Person (other than a Holder of Registrable Securities) exercising a contractual right to demand
Registration, as the case may be, proposes to sell; (ii) second, and only if all the securities referred to in clause (i) have been included, the number of Registrable Securities and other securities of the same class as such Registrable
Securities held by other Persons that have a contractual right to participate in such Registration that, in the opinion of such managing underwriter or underwriters, can be sold without having such adverse effect, with such number to be allocated
pro rata among the Holders and such other Persons that have requested to participate in such Registration based on the relative number of Registrable Securities then held by each such Holder or Person (provided that any
securities thereby allocated to a Holder or Person that exceed such Holder’s or Person’s request shall be reallocated among the remaining requesting Holders and Persons in like manner); and (iii) third, and only if all of the
Registrable Securities referred to in clauses (i) and (ii) have been included in such Registration, any other securities eligible for inclusion in such Registration. 

(c) No Effect on Demand Registrations. No Registration of Registrable Securities effected pursuant to a request under this
Section 2.2 shall be deemed to have been effected pursuant to Section 2.1 or shall relieve the Company of its obligations under Section 2.1. 

Section 2.3 Registration Procedures. 

(a) In connection with the Company’s Registration obligations under Sections 2.1 and 2.2, the Company shall, subject to the limitations
set forth herein, use its commercially reasonable efforts to effect any such Registration so as to permit the sale of such Registrable Securities in accordance with the intended method or methods of distribution thereof, and in connection therewith
the Company shall: 
 (i) file with the SEC a Registration Statement relating to the Registrable Securities including all
exhibits and financial statements required by the SEC to be filed therewith (in the case of a Demand Registration, no later than the time period set forth in Section 2.1(a) with respect thereto), and use its commercially reasonable efforts to
cause such Registration Statement to become effective under the Securities Act; provided, however, that before filing a Registration Statement or Prospectus, or any amendments or supplements thereto, the Company shall
(x) furnish to the underwriters, if any, and to one Representative of the Holders of the Registrable Securities covered by such Registration Statement, copies of all documents prepared to be filed, which

  
 9 

 
documents shall be subject to the reasonable review of such underwriters and their counsel at the underwriters’ expense, and of such Holders and their counsel (at the Holders’ sole
expense, except to the extent provided in Section 2.6(a)(vi)) and (y) except in the case of a Registration under Section 2.2, not file any Registration Statement or Prospectus or amendments or supplements thereto to which the Holders
of a majority of the Registrable Securities covered thereby or the underwriters, if any, shall reasonably object, in writing, on a timely basis, unless in the opinion of the Company such filing is necessary to comply with applicable Law and in any
event such rights shall not be applicable to any Exchange Act filings of the Company; 
 (ii) prepare and file with the SEC
such pre- and post-effective amendments to such Registration Statement and supplements to the Prospectus as may be necessary to keep such Registration effective for the period of time required by this Agreement; 

(iii) notify the Representative of the participating Holders of Registrable Securities and the managing underwriter or
underwriters, if any, as soon as reasonably practicable after notice thereof is received by the Company (a) when the applicable Registration Statement or any amendment thereto has been filed or becomes effective, and when the applicable
Prospectus or any amendment or supplement to such Prospectus has been filed, (b) of any written comments by the SEC or any request by the SEC or any other federal or state governmental authority for amendments or supplements to such
Registration Statement or such Prospectus or for additional information, (c) of the issuance by the SEC of any stop order suspending the effectiveness of such Registration Statement or any order by the SEC or any other regulatory authority
preventing or suspending the use of any preliminary or final Prospectus or the initiation of any proceedings for such purposes, and (d) of the receipt by the Company of any notification with respect to the suspension of the qualification of the
Registrable Securities for offering or sale in any jurisdiction or the initiation of any proceeding for such purpose; 
 (iv)
promptly notify the Representative of the participating Holders of Registrable Securities and the managing underwriter or underwriters, if any, when the Company becomes aware of the happening of any event as a result of which the applicable
Registration Statement or any prospectus included in or related to such Registration Statement (as then in effect) contains any untrue statement of a material fact or omits to state a material fact necessary to make the statements therein (in the
case of such Prospectus and any preliminary Prospectus, in light of the circumstances under which they were made) not misleading or, if for any other reason it shall be necessary during such time period to amend or supplement such Registration
Statement or Prospectus in order to comply with the Securities Act, and, in either case as promptly as reasonably practicable thereafter, prepare and file with the SEC and furnish without charge to the selling Holders and the managing underwriter or
underwriters, if any, an amendment or supplement 

  
 10 

 
thereto which shall correct such misstatement or omission or effect such compliance; 

(v) use its commercially reasonable efforts to obtain the withdrawal of any stop order or other order of the SEC suspending the
use of any Registration Statement, preliminary or final Prospectus; 
 (vi) as soon as reasonable practicable, incorporate in
a Prospectus supplement or post-effective amendment such information as the managing underwriter or underwriters, if any, or the Holders of a majority of the Registrable Securities being sold pursuant to such Registration Statement agree should be
included therein relating to the plan of distribution with respect to such Registrable Securities; and make all required filings of such Prospectus supplement or post-effective amendment as soon as reasonably practicable after being notified of the
matters to be incorporated in such Prospectus supplement or post-effective amendment; 
 (vii) furnish to each selling Holder
of Registrable Securities and each underwriter, if any, without charge, as many conformed copies as such Holder or underwriter may reasonably request of the applicable Registration Statement and any amendment or post-effective amendment thereto;

 (viii) deliver to each selling Holder of Registrable Securities and each underwriter, if any, without charge, as many
copies of the applicable Prospectus (including each preliminary prospectus) and any amendment or supplement thereto as such Holder or underwriter may reasonably request (it being understood that the Company, subject to the limitations set forth
herein, consents to the use of such Prospectus or any amendment or supplement thereto by each of the selling Holders of Registrable Securities and the underwriters, if any, in connection with the offering and sale of the Registrable Securities
covered by such Prospectus or any amendment or supplement thereto); 
 (ix) on or prior to the date on which the applicable
Registration Statement is declared effective, use its commercially reasonable efforts to register or qualify such Registrable Securities for offer and sale under the securities or “Blue Sky” laws of each state and other jurisdiction of the
United States as any such selling Holder or managing underwriter or underwriters, if any, or their respective counsel reasonably request in writing, and do any and all other acts or things reasonably necessary or advisable to keep such registration
or qualification in effect for such period as required by Section 2.1(e); provided that the Company will not be required to (x) qualify generally to do business in any jurisdiction where it is not then so qualified or (y) take
any action which would subject it to taxation or general service of process in any such jurisdiction where it is not then so subject; 

(x) use its commercially reasonable efforts to (x) cooperate with the selling Holders of Registrable Securities and the
managing underwriter or 

  
 11 

 
underwriters, if any, to facilitate the timely preparation and delivery of certificates representing the Registrable Securities to be sold under the Registration Statement and not bearing any
restrictive legends into the book-entry system of any applicable transfer agent; (y) provide a CUSIP number for all Registrable Securities, and (z) enable such Registrable Securities to be in such denominations and registered in such names
as the Holders or the managing underwriter(s), if any, may request in writing at least two (2) Business Days prior to any sale of Registrable Securities to the underwriters; 

(xi) in the case of an Underwritten Offering, obtain for delivery to the underwriter or underwriters, if any, an opinion or
opinions from internal Company counsel and, if reasonably requested by the applicable underwriter or underwriters, Canadian special counsel for the Company and U.S. special counsel for the Company dated the date of the closing under the underwriting
agreement, in customary form, scope and substance, which opinions shall be reasonably satisfactory to such underwriter or underwriters, if any, and their respective counsel; 

(xii) in the case of an Underwritten Offering, obtain for delivery to the Company, the managing underwriter or underwriters, if
any, with copies, to the extent permitted by applicable accounting pronouncements and guidelines, to the Holders of Registrable Securities being offered in such Underwritten Offering, a comfort letter from the Company’s independent certified
public accountants in customary form and covering such matters of the type customarily covered by comfort letters as such managing underwriter or underwriters reasonably request, dated the date of execution of the underwriting agreement and brought
down to the closing under the underwriting agreement; 
 (xiii) cooperate with the Representative or counsel for the sellers
of Registrable Securities and each underwriter, if any, participating in the disposition of such Registrable Securities and their respective counsel in connection with any filings required to be made with FINRA; 

(xiv) use its commercially reasonable efforts to comply with all applicable rules and regulations of the SEC and make generally
available to its security Holders, as soon as reasonably practicable after the effective date of the applicable Registration Statement, an earnings statement satisfying the provisions of Section 11(a) of the Securities Act and the rules and
regulations promulgated thereunder, which may be effected by complying with Rule 158 under the Securities Act; 
 (xv)
provide and cause to be maintained a transfer agent and registrar for all Registrable Securities; 
 (xvi) make available
upon reasonable notice at reasonable times and for reasonable periods for inspection by a Representative appointed by the holders of a majority of the Registrable Securities covered by the applicable Registration

  
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Statement, by any managing underwriter or underwriters participating in any disposition to be effected pursuant to such Registration Statement and by any counsel retained by such Holders or any
such underwriter, 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 and the independent public accountants who have certified
its financial statements on reasonable notice at reasonable times and for reasonable periods to make themselves available to discuss the business of the Company and to supply all information reasonably requested by any such Person in connection with
such Registration Statement, as shall be necessary to enable them to exercise their due diligence responsibility; provided that (A) any such Person gaining access to information regarding the Company pursuant to this
Section 2.3(a)(xvi) shall agree to hold in strict confidence and shall not make any disclosure or use any information regarding the Company that the Company determines in good faith to be confidential or proprietary, and of which determination
such Person is notified, unless (w) the release of such information is requested or required by law, regulation or order of a court or regulatory body; provided that such Person shall give prompt written notice to the Company prior to
such disclosure to allow a reasonable opportunity for a protective order to be obtained or for the exercise of any other appropriate remedy in relation to such disclosure; (x) such information is or becomes publicly known other than through a
breach of this or any other agreement of which such Person has knowledge; (y) such information is or becomes available to such Person on a non-confidential basis from a source other than the Company that is not bound by or subject to a
confidentiality agreement, or by fiduciary or other duties of confidentiality, whether express or implied, in relation to such information; or (z) such information is independently developed by such Person; and (B) the applicable Holders
using their commercially reasonable efforts to cause each such Person to minimize the disruption to the Company’s business in connection with the foregoing; and 

(xvii) in the case of an Underwritten Offering, cause the senior executive officers of the Company to participate in the
customary “road show” presentations that may be reasonably requested by the managing underwriter or underwriters in any such Underwritten Offering and otherwise to facilitate, cooperate with, and participate in each proposed offering
contemplated herein and customary selling efforts related thereto. 
 (b) The Company may require each seller of Registrable Securities as
to which any Registration is being effected to furnish to the Company such information regarding the distribution of such securities and such other information relating to such Holder and its ownership of Registrable Securities as the Company may
from time to time reasonably request. Each Holder of Registrable Securities agrees to furnish such information to the Company and to cooperate with the Company as necessary to enable the Company to comply with the provisions of this Agreement. The
Company shall have the right to exclude any Holder that does not comply with the preceding sentence from the applicable Registration. 

  
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 (c) Each Holder of Registrable Securities agrees that, upon receipt of any notice from the
Company of the happening of any event of the kind described in Section 2.3(a)(iv), such Holder will forthwith discontinue disposition of Registrable Securities pursuant to such Registration Statement and related Prospectus until such
Holder’s receipt of the copies of the supplemented or amended Prospectus contemplated by Section 2.3(a)(iv), or until such Holder is advised in writing by the Company that the use of the Prospectus may be resumed, and if so directed by the
Company, such Holder shall deliver to the Company all copies, other than permanent file copies then in such Holder’s possession, of the Prospectus covering such Registrable Securities at the time of receipt of such notice. In the event the
Company shall give any such notice in respect of a Demand Registration, the period during which the applicable Registration Statement is required to be maintained effective shall be extended by the number of days during the period from and including
the date of the giving of such notice to and including the date when each seller of Registrable Securities covered by such Registration Statement either receives the copies of the supplemented or amended Prospectus contemplated by
Section 2.3(a)(iv) or is advised in writing by the Company that the use of the Prospectus may be resumed. 
 (d) For the avoidance of
doubt, nothing in this Agreement shall require the Company to register or qualify for distribution any Registrable Securities under the securities laws of any country other than the United States as explicitly provided in this Agreement; provided,
however, that the Company may in its sole discretion determine to register, qualify or take such other steps as may be necessary in order to permit an offering pursuant to this Agreement to be extended into one or more countries in addition to the
United States, and if the Company so determines in its sole discretion, the Holders shall cooperate with the Company as necessary to enable the Company to do so. 

Section 2.4 Underwritten Offerings. 

(a) Demand Registrations. If requested by the underwriters for any Underwritten Offering requested by Holders of Registrable Securities
pursuant to a Registration under Section 2.1, the Company shall enter into an underwriting agreement, purchase agreement, distribution agreement or similar agreement, as the case may be, with such underwriters or agents for such offering, such
agreement to be reasonably satisfactory in substance and form to the Company, the Holders of a majority of the Registrable Securities to be included in such Underwritten Offering, and the underwriters or agents, and their respective counsel, and to
contain such terms and conditions as are generally prevailing in agreements of that type, including customary provisions for indemnification and contribution and, if requested by the underwriters, may contain customary lock-up provisions with
respect to the Company and the Holders reasonable satisfactory to the Company and the Holders. The Holders of the Registrable Securities to be included in such Underwritten Offering shall enter into such underwriting agreement, purchase agreement,
distribution agreement or similar agreement and shall cooperate with the Company in the negotiation of such agreement. 
 (b) Piggyback
Registrations. If the Company proposes to register any of its securities under the Securities Act as contemplated by Section 2.2 and such securities are to be distributed in an Underwritten Offering through one or more underwriters, the
Company shall, if requested by any Holder of Registrable Securities pursuant to Section 2.2 and subject to the 

  
 14 

 
provisions of Section 2.2(b), use its commercially reasonable efforts to arrange for such underwriters to include on the same terms and conditions that apply to the other sellers in such
Registration all the Registrable Securities to be offered and sold by such Holder among the securities of the Company to be distributed by such underwriters in such Registration. The Holders of Registrable Securities to be distributed by such
underwriters shall be parties to the underwriting agreement, purchase agreement, distribution agreement or similar agreement between the Company and such underwriters, and shall cooperate with the Company in the negotiation of such agreement. 

(c) Participation in Underwritten Registrations. Subject to the provisions of Section 2.4(a) and (b) above, no Person may
participate in any Underwritten Offering hereunder unless such Person (i) agrees to sell such Person’s securities on the basis provided in any underwriting agreement, purchase agreement, distribution agreement or similar agreement to be
used in connection with such Underwritten Offering and (ii) completes and executes all questionnaires, powers of attorney, indemnities, agreements and other documents required under the terms of such underwriting arrangements, and provides such
other information to the Company or the underwriter(s) as may be reasonably requested to offer or register such Person’s Registrable Securities. 

(d) Price and Underwriting Discounts. In the case of an Underwritten Offering under Section 2.1, the price, underwriting discount
and other financial terms for the Registrable Securities shall be determined by the Holders of a majority of Registrable Securities that are participating in such Underwritten Offering. In the case of any Underwritten Offering pursuant to
Section 2.2, such price, discount and other terms shall be determined by the Company. In addition, in the case of any Underwritten Offering, each of the Holders may withdraw their request to participate in the registration pursuant to
Section 2.1 or 2.2 after being advised of such price, discount and other terms, and shall not be required to enter into any agreements or documentation that would prohibit or otherwise preclude any such withdrawal. 

Section 2.5 No Inconsistent Agreements; Additional Rights. The Company shall not hereafter enter into, and is not currently a
party to, any agreement with respect to its securities that is inconsistent in any material respect with the rights granted to the Holders of Registrable Securities by this Agreement. 

Section 2.6 Registration Expenses. (a) The Company shall pay all of the expenses set forth in this paragraph (a) in
connection with a Registration under this Agreement of Registrable Securities. Such expenses are (i) all registration and filing fees required to be made with the SEC or FINRA, (ii) all filing fees in connection with compliance with any
state securities or “Blue Sky” laws, (iii) all printing, duplicating, word processing and delivery expenses (including expenses of printing certificates for the Registrable Securities in a form eligible for deposit with DTC, and of
printing prospectuses), (iv) all fees and disbursements of counsel for the Company and of all independent certified public accountants of the Company, (v) all fees and expenses incurred in connection with the listing of the Registrable
Securities on any securities exchange or quotation of the Registrable Securities on any inter-dealer quotation system, and (vi) reasonable fees and disbursements of one U.S. law firm selected by the Holders of a majority of the Registrable
Securities being registered up to a total amount not to exceed $50,000 (in aggregate) upon the provision of a detailed invoice for reasonably incurred fees and disbursements. In 

  
 15 

 
addition, in all cases the Company shall pay all of its internal expenses (including all salaries and expenses of its officers and employees performing legal or accounting duties). 

(b) The Holders participating in such Registration shall (i) appoint, and, except to the extent provided in Section 2.6(a)(vi)
above, pay all fees and disbursements of, one U.S. law firm selected by the Holders of a majority of the Registrable Securities being registered and (ii) pay all fees and expenses of any accountants to the Holders of the Registrable Securities
being registered. Holders agree that, to the extent more than one U.S. law firm is appointed, only one such U.S. law firm (the “Designated Holders’ Counsel”) shall correspond and negotiate directly with the Company, its
counsel, its auditors and any underwriters, and any other such U.S. law firms appointed by the Holders shall correspond and negotiate only with the Holders and Designated Holders’ Counsel; it being expressly understood that, except to the
extent provided in Section 2.6(a)(vi) above, all fees and disbursements of any counsel for the Holders (including Designated Holders’ Counsel) shall be the responsibility of the Holders of Registrable Securities and under no circumstances
shall the Company be responsible for any fees or disbursements except to the extent provided in Section 2.6(a)(vi) above. 
 (c) The
Company shall not be required to pay any other costs or expenses in the course of the transactions contemplated hereby, including, without limitation, underwriting discounts and commissions and transfer taxes, if any, attributable to the sale of
Registrable Securities and the fees and expenses of counsel to the underwriters, except as may be agreed to between the Company and the underwriters in any underwriting agreement, purchase agreement, distribution agreement or similar agreement
entered into by the Company in connection herewith, provided that any such agreement shall not affect the obligations among the Company and the Holders as set forth in this Agreement. 

(d) Each Holder of Registrable Securities participating in a Registration under this Agreement shall bear such Holder’s proportionate
share (based on the total number of Registrable Securities sold in such Registration) of all discounts and commissions payable to underwriters or brokers and all transfer taxes in connection with a registration of Registrable Securities pursuant to
this Agreement and, for the avoidance of doubt, all expenses incurred by such Holders that are not expenses of the Company specified in Section 2.6(a) above. 

Section 2.7 Indemnification. 

(a) Indemnification by the Company. The Company agrees to indemnify and hold harmless, to the full extent permitted by Law, each Holder
of Registrable Securities their respective officers and directors and each Person who controls (within the meaning of the Securities Act or the Exchange Act) such Persons and each of their respective officers and directors from and against any and
all losses, penalties, judgments, suits, costs, claims, damages, liabilities and expenses, joint or several (including reasonable costs of investigation and legal expenses) (each, a “Loss” and collectively “Losses”)
arising out of or based upon (i) any untrue or alleged untrue statement of a material fact contained in any Registration Statement under which such Registrable Securities were Registered under the Securities Act (including any Prospectus or
preliminary Prospectus contained therein or any amendment thereof or supplement thereto or any documents incorporated by reference therein), or (ii) any omission or alleged omission to state therein a material fact required to be stated therein
or necessary to make the 

  
 16 

 
statements therein (in the case of a Prospectus or preliminary Prospectus, in light of the circumstances under which they were made) not misleading; provided, that the Company shall not be
liable to any indemnified party in any such case to the extent that any such Loss arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in any such Registration Statement, Prospectus or
preliminary Prospectus or other document in reliance upon and in conformity with written information furnished to the Company by such indemnified party expressly for use in the preparation thereof. This indemnity shall be in addition to any
liability the Company may otherwise have. Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of such Holder or any indemnified party and shall survive the transfer of such securities by such
Holder. The Company shall also indemnify any underwriters participating in the distribution, their officers and directors and each Person who controls such underwriters (within the meaning of the Securities Act or the Exchange Act) to the same
extent as provided above with respect to the indemnification of the indemnified parties. 
 (b) Indemnification by the Holders of
Registrable Securities. Each selling Holder of Registrable Securities agrees (severally and not jointly) to indemnify and hold harmless, to the fullest extent permitted by law, the Company, its officers and directors and each Person who controls
the Company (within the meaning of the Securities Act or the Exchange Act) and each of their respective officers and directors from and against any Losses resulting from (i) any untrue statement of a material fact in any Registration Statement
under which such Registrable Securities were Registered under the Securities Act (including any Prospectus or preliminary Prospectus contained therein or any amendment thereof or supplement thereto or any documents incorporated by reference
therein), or (ii) any omission to state therein a material fact required to be stated therein or necessary to make the statements therein (in the case of a Prospectus or preliminary Prospectus, in light of the circumstances under which they
were made) not misleading, in each case, to the extent, but only to the extent, that such untrue statement or omission was contained in any information furnished in writing by such selling Holder to the Company specifically for inclusion in such
Registration Statement, Prospectus or preliminary Prospectus. This indemnity shall be in addition to any liability such Holder may otherwise have. Such indemnity shall remain in full force and effect regardless of any investigation made by or on
behalf of the Company or any indemnified party. In no event shall the liability of any selling Holder of Registrable Securities hereunder be greater in amount than the dollar amount of the proceeds received by such Holder under the sale of the
Registrable Securities giving rise to such indemnification obligation. The Company shall be entitled to receive indemnities from any underwriters participating in the distribution, to the same or to a greater extent as provided above (with
appropriate modification) with respect to information furnished in writing by such Persons specifically for inclusion in any Registration Statement, Prospectus or preliminary Prospectus. Each holder also shall indemnify any underwriters of the
Registrable Securities, their officers and directors and each Person who controls such underwriters (within the meaning of the Securities Act or Exchange Act) and their respective officers and directors to the same extent as provided above with
respect to the indemnification of the Company. 
 (c) Conduct of Indemnification Proceedings. Any Person entitled to indemnification
hereunder shall (i) give prompt written notice to the indemnifying party of any claim with respect to which it seeks indemnification (provided that any delay or failure to so notify the indemnifying party shall not relieve the
indemnifying party of its obligations 

  
 17 

 
hereunder) and (ii) permit such indemnifying party to assume the defense of such claim with counsel reasonably satisfactory to the indemnified party; provided that any Person entitled
to indemnification hereunder shall have the right to select and employ separate counsel and to participate in the defense of such claim, but the fees and expenses of such counsel shall be at the expense of such Person unless (i) the
indemnifying party has agreed in writing to pay such fees or expenses, (ii) the indemnifying party shall have failed to assume the defense of such claim within a reasonable time after receipt of notice of such claim from the Person entitled to
indemnification hereunder and employ counsel reasonably satisfactory to such Person, (iii) the indemnified party has reasonably concluded (based upon advice of its counsel) that there may be legal defenses available to it or other indemnified
parties that are different from or in addition to those available to the indemnifying party, or (iv) in the reasonable judgment of any such Person (based upon advice of its counsel) a conflict of interest may exist between such Person and the
indemnifying party with respect to such claims (in which case, if the Person notifies the indemnifying party in writing that such Person elects to employ separate counsel at the expense of the indemnifying party, the indemnifying party shall not
have the right to assume the defense of such claim on behalf of such Person). If the indemnifying party assumes the defense, the indemnifying party shall not have the right to settle such action without the consent of the indemnified party. No
indemnifying party shall consent to entry of any judgment or enter into any settlement which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such indemnified party of an unconditional release from all
liability in respect to such claim or litigation without the prior written consent of such indemnified party. If such defense is not assumed by the indemnifying party, the indemnifying party will not be subject to any liability for any settlement
made without its prior written consent, but such consent may not be unreasonably withheld. It is understood that the indemnifying party or parties shall not, except as specifically set forth in this Section 2.7(c), in connection with any
proceeding or related proceedings in the same jurisdiction, be liable for the reasonable fees, disbursements or other charges of more than one separate firm admitted to practice in such jurisdiction at any one time unless (x) the employment of
more than one counsel has been authorized in writing by the indemnifying party or parties, (y) an indemnified party has reasonably concluded (based on the advice of counsel) that there may be legal defenses available to it that are different
from or in addition to those available to the other indemnified parties or (z) a conflict or potential conflict exists or may exist (based upon advice of counsel to an indemnified party) between such indemnified party and the other indemnified
parties, in each of which cases the indemnifying party shall be obligated to pay the reasonable fees and expenses of such additional counsel or counsels. 

(d) Contribution. If for any reason the indemnification provided for in paragraphs (a) and (b) of this Section 2.7 is
unavailable to an indemnified party or insufficient in respect of any Losses referred to therein, then the indemnifying party shall contribute to the amount paid or payable by the indemnified party as a result of such Loss (i) in such
proportion as is appropriate to reflect the relative fault of the indemnifying party on the one hand and the indemnified party or parties on the other hand in connection with the acts, statements or omissions that resulted in such losses, as well as
any other relevant equitable considerations. In connection with any Registration Statement filed with the SEC by the Company, the relative fault of the indemnifying party on the one hand and the indemnified party on the other hand shall be
determined by reference to, among other things, whether any untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to 

  
 18 

 
information supplied by the indemnifying party or by the indemnified party and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such
statement or omission. The parties hereto agree that it would not be just or equitable if contribution pursuant to this Section 2.7(d) 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 this Section 2.7(d). No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who
was not guilty of such fraudulent misrepresentation. The amount paid or payable by an indemnified party as a result of the Losses referred to in Sections 2.7(a) and 2.7(b) shall be deemed to include, subject to the limitations set forth above, any
legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 2.7(d), in connection with any Registration Statement
filed by the Company, a selling Holder of Registrable Securities shall not be required to contribute any amount in excess of the dollar amount of the proceeds received by such Holder under the sale of Registrable Securities giving rise to such
contribution obligation. If indemnification is available under this Section 2.7, the indemnifying parties shall indemnify each indemnified party to the fullest extent provided in Sections 2.7(a) and 2.7(b) hereof without regard to the
provisions of this Section 2.7(d). The remedies provided for in this Section 2.7 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. 

Section 2.8 Private Sales. (a) The Company covenants that it will use commercially reasonable efforts to file the reports
required to be filed by it under the Securities Act or the Exchange Act and the rules and regulations adopted by the SEC thereunder (or, if the Company is not required to file such reports, it will, upon the reasonable request of not less than a
majority of the Holders of Registrable Securities, use commercially reasonable efforts to make publicly available such necessary information for so long as necessary to permit sales pursuant to Rule 144 or Rule 144A under the Securities Act),
provided, however, that the Company shall not be required to make any Adverse Disclosure; and it will use commercially reasonable efforts to take such further action to enable such Holders to sell Registrable Securities without
Registration under the Securities Act within the limitation of the exemptions provided by (i) Rule 144 or Rule 144A under the Securities Act, as such Rules may be amended from time to time, or (ii) any similar rule or regulation existing
or hereafter adopted by the SEC. Upon the reasonable request of any Holder of Registrable Securities, the Company will deliver to such Holder a written statement as to whether it has complied with such requirements and, if not, the specifics
thereof. 
 Section 2.9 Certificates. Each Holder of Registrable Securities covenants that upon such Holder’s satisfaction
of the relevant holding period under Rule 144 under the Securities Act, such Holder, to the extent permissible under applicable Law and upon the Company’s request, shall use reasonable best efforts to cooperate with the Company to exchange such
Holder’s certificates for such Registrable Securities for new certificates not bearing a legend restricting transfer under the Securities Act, and to provide such documents and/or opinions as the Company may reasonably request in connection
therewith. 

  
 19 

 ARTICLE III 

MISCELLANEOUS 
 Section 3.1
Term. This Agreement shall terminate upon the time as of which all of the Registrable Securities have been sold pursuant to a Registration Statement or otherwise cease to be Registrable Securities, except for the provisions of Sections 2.6,
2.7 and 2.8 and all of this Article III, which shall survive any such termination. Notwithstanding anything to the contrary herein, if the Merger Agreement is terminated in accordance with Article 9 thereunder, then this Agreement shall terminate
concurrently therewith and shall be of no force or effect. 
 Section 3.2 Injunctive Relief. The Company and each Holder agree
that irreparable damage would occur in the event that any provision of this Agreement were not performed in accordance with its terms and that, although monetary damages may be available for such a breach, monetary damages would be an inadequate
remedy therefor. Accordingly, each of the Company and each Holder agrees that, in the event of any breach or threatened breach of any provision of this Agreement by such party, the other parties shall be entitled to an injunction or injunctions,
specific performance and other equitable relief to prevent or restrain breaches or threatened breaches hereof and to specifically enforce the terms and provisions hereof. A party seeking an injunction or injunctions to prevent breaches of this
Agreement or to enforce specifically the terms and provisions hereof shall not be required to provide, furnish or post any bond or other security in connection therewith, and each of the Company and each Holder hereby irrevocably waives any right it
may have to require the provision, furnishing or posting of any such bond or other security. In the event that any Legal Proceeding should be brought in equity to enforce the provisions of this Agreement, each of the Company and each Holder agrees
that it shall not allege, and each hereby waives the defense, that there is an adequate remedy available at law. 
 Section 3.3
Notices. The Holders shall appoint a Representative for purposes of all notices and other communications to be delivered to the Holders in connection with this Agreement, and all notices and other communications given to such Representative
in accordance with this Section 3.3 shall be deemed to be validly given to all Holders. The initial Representative for the Holders shall be the Person specified below, provided that the Holders may appoint a replacement Representative
with the affirmative vote of a majority of the Holders, and provided, further that notice of such replacement and the address, email address and facsimile number of such replacement Representative is provided to the Company in
accordance with this Section 3.3. All notices or other communications to be delivered in connection with this Agreement shall be in writing and shall be deemed to have been properly delivered, given and received (a) on the date of delivery
if delivered by hand during normal business hours of the recipient during a Business Day, otherwise on the next Business Day, (b) on the date of successful transmission if sent via facsimile or email during normal business hours of the
recipient during a Business Day, otherwise on the next Business Day, or (c) on the date of receipt by the addressee if sent by a nationally recognized overnight courier or by registered or certified mail, return receipt requested, if received
on a Business Day, otherwise on the next Business Day. Such notices or other communications must be sent to each respective Person at the address, email address or facsimile number set forth below (or at such other address, email

  
 20 

 
address or facsimile number as shall be specified by a Person in a notice given in accordance with this Section 3.3): 

To the Company: 
 Open Text
Corporation 
 38 Leek Crescent 

Richmond Hill, Ontario 
 Canada
L4B 4N8 
 Attention: Gordon A. Davies, Chief Legal Officer and Corporate Secretary 

Facsimile: 905-762-6268 
 Email:
gdavies@opentext.com 
 with a copy (which shall not constitute notice) to: 

Cleary Gottlieb Steen & Hamilton LLP 

One Liberty Plaza 
 New York, New
York 10006 
 Attention: Craig B. Brod, Esq.; Neil Whoriskey, Esq. 

Facsimile: 212-225-3999 
 Email:
cbrod@cgsh.com; nwhoriskey@cgsh.com 
 To the Representative of the Holders, which shall constitute notice to all Holders in accordance with
this Section 3.3: 
 Global Acquisition LLC 

c/o Francisco Partners 
 One
Letterman Drive 
 Building C - Suite 410 

San Francisco, CA 94129 

Attention: David Golob 

Facsimile: 415-418-2999 
 Email:
golob@franciscopartners.com 
 with a copy (which shall not constitute notice) to: 

Shearman & Sterling LLP 

Four Embarcadero Center, Suite 3800 

San Francisco, CA 94111-5974 

Attention: Steve L. Camahort and Jeffrey C. Wolf 

Facsimile: 415-616-1199 
 Email:
Steve.Camahort@Shearman.com; Jeffrey.Wolf@Shearman.com 

  
 21 

 Section 3.4 Successors, Assigns and Transferees. This Agreement shall inure to the
benefit of and be binding upon the successors and permitted assigns of the parties hereto as hereinafter provided. The registration rights of any Holder with respect to any Registrable Securities may be transferred to any Person who is the
transferee of such Registrable Securities; provided that no such transfer shall be binding upon or obligate the Company to any such transferee unless and until the Company shall have received notice of such transfer as herein provided and a
written agreement of the transferee to be bound by the provisions of this Agreement. Subject to compliance with the foregoing sentence and to the other provisions of this Agreement, all of the obligations of the Company hereunder shall survive any
such transfer. 
 The terms and provisions of this Agreement shall be binding on and inure to the benefit of each of the parties hereto and
their respective successors. In addition, the Holders shall be third party beneficiaries to the agreements made hereunder between the Company, on the one hand, and the Holders, on the other hand, and shall have the right to enforce such agreements
directly to the extent they deem such enforcement necessary or advisable to protect their rights or the rights of Holders hereunder. Except as provided in the precedent sentence, nothing in this Agreement, express or implied, is intended or shall be
construed to confer upon any other Person not a party hereto (other than each other Person entitled to indemnity or contribution under Section 2.7) any right, remedy or claim under or by virtue of this Agreement. 

Section 3.5 Governing Law; Consent to Jurisdiction. (a) This Agreement and all matters arising out of or relating to this
Agreement or any of the transactions contemplated hereby, including all rights of the parties hereto (whether sounding in contract, tort, common or statutory law, equity or otherwise), shall be interpreted, construed and governed by and in
accordance with the internal Laws of the State of New York without giving effect to any choice or conflict of law provision or rule (whether of the State of New York or any other jurisdiction) that would cause the application of the Law of any
jurisdiction other than those of the State of New York. 
 (b) Each of the parties hereto (i) consents to submit itself to the
exclusive jurisdiction of the courts of the State of New York and the federal courts of the United States of America located in the Borough of Manhattan in any Legal Proceeding arising out of or relating to this Agreement or any of the transactions
contemplated by this Agreement, (ii) agrees that all Claims in respect of any such Legal Proceeding may be heard and determined in any such court, (iii) agrees that it shall not attempt to deny or defeat such jurisdiction by motion or
other request for leave from any such court, (iv) agrees not to bring any Legal Proceeding arising out of or relating to this Agreement or any of the transactions contemplated by this Agreement (whether in contract, tort, common or statutory
law, equity or otherwise) in any other court and (v) agrees that a final judgment in any such Legal Proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by applicable
Law. Each of the parties hereto waives any defense of inconvenient forum to the maintenance of any Legal Proceeding brought in accordance with this Section 3.5(b). Each of the parties hereto agrees that the service of any process, summons,
notice or document in connection with any such Legal Proceeding in the manner provided in Section 3.3 or in such other manner as may be permitted by applicable Law, will be valid and sufficient service thereof. 

  
 22 

 (c) EACH PARTY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE
TO A TRIAL BY JURY IN RESPECT OF ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OF THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT. EACH PARTY (I) CERTIFIES THAT NO REPRESENTATIVE OF THE OTHER PARTY HAS REPRESENTED,
EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER, (II) ACKNOWLEDGES THAT IT AND THE OTHER PARTY HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE
MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION, (III) UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER AND (IV) MAKES THIS WAIVER VOLUNTARILY. 

Section 3.6 Severability. If any term or provision of this Agreement is invalid, illegal or incapable of being enforced in any
situation or in any jurisdiction, such invalidity, illegality or unenforceability shall not affect the validity, legality or enforceability of any other term or provision hereof or the offending term or provision in any other situation or any other
jurisdiction, so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to the other parties hereto. Upon any such determination that any term or other provision is invalid,
illegal or incapable of being enforced, the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties hereto as closely as possible, in a mutually acceptable manner, in order that the
transactions contemplated hereby be consummated as originally contemplated to the fullest extent possible. 
 Section 3.7 Amendment;
Waiver. 
 (a) This Agreement may not be amended, modified or supplemented and waivers and consents to departures from the provisions
hereof may not be given, except by an instrument or instruments in writing making specific reference to this Agreement and signed by the Company and the Holders of a majority of Registrable Securities then outstanding. Each Holder of any Registrable
Securities at the time or thereafter outstanding shall be bound by any amendment, modification, supplement, waiver or consent authorized by this Section 3.7(a), whether or not such Registrable Securities shall have been marked accordingly. 

(b) No waiver by any party hereto of any breach of this Agreement shall operate or be construed as a waiver of any preceding or subsequent
breach, whether of a similar or different character, unless expressly set forth in such written waiver. Neither any course of conduct or failure or delay of any party hereto in exercising or enforcing any right, remedy or power hereunder shall
operate or be construed as a waiver thereof, nor shall any single or partial exercise of any right, remedy or power hereunder, or any abandonment or discontinuance of steps to enforce such right, remedy or power, or any course of conduct, preclude
any other or further exercise thereof or the exercise of any other right, remedy or power. 
 Section 3.8 Counterparts and
Electronic Signatures. This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original and all of which, when taken together, shall be deemed to be one and the same agreement or document. A signed

  
 23 

 
copy of this Agreement transmitted by facsimile, email or other means of electronic transmission shall be deemed to have the same legal effect as delivery of an original executed copy of this
Agreement for all purposes. 

  
 24 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the date
first written above by their respective officers thereunto duly authorized. 
  

					
	OPEN TEXT CORPORATION
		
	By:	 	 /s/ Gordon Davies

		 	Name:	 	Gordon Davies
		 	Title:	 	Chief Legal Officer and Corporate Secretary

 [Signature Page to Registration Rights Agreement] 

 
			
	GLOBAL ACQUISITION LLC
		
	By:	 	Francisco Partners GP, LLC
	Its:	 	Managing Member
		
	By:	 	  

		 	Name:
		 	Title:

 
			
	 CCG INVESTMENT FUND, L.P.

CCG ASSOCIATES – QP, LLC
 CCG INVESTMENT FUND
– AI, LP
 CCG AV, LLC – SERIES A
 CCG
AV, LLC – SERIES C
 CCG CI, LLC

		
	By:	 	Golden Gate Capital Management, LLC
	Its:	 	General Partner or Managing Member
		
	By:	 	  

		 	Name:
		 	Title:

 
			
	CERBERUS AMERICA SERIES ONE HOLDINGS LLC
		
	By:	 	  

		 	Name:
		 	Title:
	
	CERBERUS SERIES TWO HOLDINGS LLC
		
	By:	 	  

		 	Name:
		 	Title:

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