Document:

FJOINT VENTURE AGREEMENT

 Exhibit 10.12 
  
 EXECUTION COPY 

  

  
 QubicaAMF Worldwide, S.à.r.l. 
  

  
  
 JOINT VENTURE AGREEMENT 
  
 Dated as of June
13, 2005 
  

  
 TABLE OF CONTENTS

  

					
	 	  	 	  	Page

	 ARTICLE I — CERTAIN DEFINITIONS
	  	2
		
	 ARTICLE II — ORGANIZATIONAL MATTERS
	  	9
			
	 2.1
	  	Formation	  	9
	 2.2
	  	Name	  	9
	 2.3
	  	Purpose	  	9
	 2.4
	  	Powers of the Company	  	9
	 2.5
	  	Foreign Qualification	  	10
	 2.6
	  	Principal Office; Registered Office	  	11
	 2.7
	  	Term	  	11
	 2.8
	  	Partnership Status for Tax Purposes	  	11
	 2.9
	  	Related Party Transactions	  	11
	 2.10
	  	Strategic Plan	  	11
	 2.11
	  	Management of the Company and its Subsidiaries	  	11
	 2.12
	  	Certain Executives	  	13
	 2.13
	  	Reorganization	  	14
		
	 ARTICLE III — CAPITAL CONTRIBUTIONS AND CAPITAL ACCOUNTS
	  	14
			
	 3.1
	  	Capital Contributions	  	14
	 3.2
	  	Capital Accounts	  	16
	 3.3
	  	Negative Capital Accounts	  	16
	 3.4
	  	No Withdrawal	  	17
	 3.5
	  	Loans	  	17
		
	 ARTICLE IV — DISTRIBUTIONS AND ALLOCATIONS
	  	17
			
	 4.1
	  	Distributions	  	17
	 4.2
	  	Allocations	  	19
	 4.3
	  	Special Allocations	  	19
	 4.4
	  	Tax Allocations	  	20
	 4.5
	  	Transfer of Capital Accounts	  	21
		
	 ARTICLE V — GENERAL RIGHTS AND OBLIGATIONS OF SHAREHOLDERS
	  	21
			
	 5.1
	  	Shareholders Right to Act	  	21
	 5.2
	  	Conflicts of Interest	  	21
	 5.3
	  	Transactions between the Company and the Shareholders	  	21
		
	 ARTICLE VI — BOOKS, RECORDS, ACCOUNTING AND REPORTS
	  	21
			
	 6.1
	  	Records and Accounting	  	21
	 6.2
	  	Tax Information	  	22
	 6.3
	  	Company Funds	  	22

  

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	 ARTICLE VII — TAXES
	  	22
			
	 7.1
	  	Tax Returns	  	22
	 7.2
	  	Tax Elections	  	23
	 7.3
	  	Tax Matters Partner	  	23
		
	 ARTICLE VIII — TRANSFER OF COMPANY INTERESTS
	  	23
			
	 8.1
	  	Transfers of PECS, CPECS and Shares	  	23
	 8.2
	  	Effect of Assignment	  	24
	 8.3
	  	Prohibition on Transfer	  	24
	 8.4
	  	Transfer Fees and Expenses	  	24
	 8.5
	  	Void Transfers	  	24
		
	 ARTICLE IX — WITHDRAWAL AND RESIGNATION OF SHAREHOLDERS
	  	24
			
	 9.1
	  	Withdrawal and Resignation of Shareholders	  	24
	 9.2
	  	Withdrawal of a Shareholder	  	25
		
	 ARTICLE X — LIQUIDITY PROVISIONS
	  	25
			
	 10.1
	  	Put Offer	  	25
	 10.2
	  	Liquidity Request	  	25
	 10.3
	  	Deadlock Offer	  	26
	 10.4
	  	Sale to a Competitor	  	27
		
	 ARTICLE XI — VALUATION
	  	27
			
	 11.1
	  	Determination	  	27
	 11.2
	  	Fair Market Value	  	28
		
	 ARTICLE XII — GENERAL PROVISIONS
	  	28
			
	 12.1
	  	Power of Attorney	  	28
	 12.2
	  	Amendments	  	29
	 12.3
	  	Title to Company Assets	  	29
	 12.4
	  	Remedies	  	29
	 12.5
	  	Successors and Assigns	  	29
	 12.6
	  	Severability	  	29
	 12.7
	  	Public Offering	  	30
	 12.8
	  	Notice of Provisions	  	30
	 12.9
	  	Counterparts	  	30
	 12.10
	  	Descriptive Headings; Interpretation	  	30
	 12.11
	  	Governing Law	  	31
	 12.12
	  	Governing Language	  	31
	 12.13
	  	Arbitration	  	31
	 12.14
	  	Addresses and Notices	  	31
	 12.15
	  	Creditors	  	31
	 12.16
	  	Waiver	  	32
	 12.17
	  	Further Action	  	32
	 12.18
	  	Offset	  	32
	 12.19
	  	Reimbursement of Payments on Behalf of Shareholders	  	32
	 12.20
	  	Entire Agreement	  	32
	 12.21
	  	Delivery by Facsimile	  	32
	 12.22
	  	Survival	  	33

  

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 QubicaAMF Worldwide, S.à.r.l. 
 JOINT VENTURE AGREEMENT 
  
 THIS JOINT VENTURE AGREEMENT is made and entered into as of this 13th day of June, 2005, to be effective as of the closing of the transactions contemplated by Section 1B of the Contribution Agreement (as
defined below) (the “Effective Date”), by and among QubicaAMF Worldwide, S.à.r.l., a société à responsabilité limitée organized under the laws of Luxembourg (the
“Company”), AMF Holdings, Inc., a corporation organized under the laws of the State of Delaware, U.S.A. (“AMF”), Qubica Lux, S.à.r.l., a société à responsabilité
limitée organized under the laws of Luxembourg (“Qubica”), AMF Bowling Products, LLC, a Virginia limited liability company (“AMF Products”), AMF Bowling Products International BV, a company organized
under the laws of the Netherlands (“AMF BV”), Qubica, S.p.A., a Società per Azioni organized under the laws of Italy (“Qubica Products”), AMF Bowling India Private Limited, an India company (“AMF
India”), AMF Bowling Products Mexico S. de R.L. de C.V., a Mexico company (“AMF Mexico”), AMF Bowling Poland Sp.zo.o, a Poland company (“AMF Poland”), AMF Bowling Products, LLC, a Russia company
(“AMF Russia” and, together with AMF Products, AMF BV, AMF India, AMF Mexico and AMF Poland, the “AMF Subs”), Qubica Canada, Inc., a Canada corporation (“Qubica Canada”), Qubica USA, Inc., a Florida
corporation (“Qubica USA”), and Aquta S.r.l., a limited liability company organized under the laws of Italy (“Aquta” and, together with Qubica Products, Qubica Canada, Qubica USA and Aquta, the “Qubica
Subs”). AMF and Qubica and their respective successors and permitted assigns are collectively referred to herein as the “Initial Shareholders” and, individually, as an “Initial Shareholder.” Each AMF Sub
and Qubica Sub shall be parties to this Agreement solely for purposes of Sections 2.11 and 2.12 below. Capitalized terms used but not otherwise defined herein shall have the meanings given to such terms in ARTICLE I of this
Agreement. 
  
 WHEREAS, Qubica is the current owner of
Qubica Products (together with its Subsidiaries, the “Qubica Products Business”), and AMF is the current owner of AMF Products and AMF BV (collectively, and together with their respective Subsidiaries, the “AMF Products
Business”); 
  
 WHEREAS, the business strengths of
the Qubica Products Business include its distinctive entrepreneurial culture, its marketing oriented nature and its attention to customer needs through strategic initiatives, ongoing research and development and enterprise-wide innovation;

  
 WHEREAS, the AMF Products Business has a long history
in the market sector during which it has developed its production and managerial skills and continuously improved the quality of its products and its customer service, while making its production of products more cost-effective; 
  
 WHEREAS, the Initial Shareholders desire to combine the Qubica
Products Business and the AMF Products Business to take advantage of both of their respective strengths in hopes of creating new value for the Initial Shareholders and achieving liquidity of such value for the Initial Shareholders through an initial
Public Offering or a Sale of the Company, in any case in accordance with ARTICLE X of this Agreement; 
  
 WHEREAS, in order to effect the combination of the AMF Products Business and the Qubica Products Business, AMF and Qubica have agreed to contribute
the AMF Products Business and the Qubica Products Business, respectively, to the Company in exchange for the Company’s issuance to each Initial Shareholder of Shares, PECS and CPECS representing initially 50% of the issued share capital of the
Company, in each case on the terms and subject to the conditions set forth in the Contribution Agreement; and 
  
 WHEREAS, in connection with the foregoing, the Company and each of the Shareholders desire to enter into this Agreement for the purposes, among
others, of setting forth the rights and obligations of 

 
the Shareholders with respect to their ownership of the Company, providing for the election and treatment of the Company as a partnership for U.S. income tax
purposes and the maintenance of all books and records in connection with such election, assuring continuity in the ownership and management of the Company and limiting the manner and terms by which the Shares, PECS and CPECS may be Transferred.

  
 NOW, THEREFORE, in consideration of the mutual
covenants set forth herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 
  
 ARTICLE I — CERTAIN DEFINITIONS 
  
 Capitalized terms used but not otherwise defined herein shall have the following meanings: 
  
 “Adjusted Capital Account Deficit” means with respect to any
Capital Account as of the end of any Taxable Year, the amount by which the balance in such Capital Account is less than zero. For this purpose, such Person’s Capital Account balance shall be 
  
 (i) reduced for any items described in Treasury Regulation
Section 1.704-1(b)(2)(ii)(d)(4), (5), and (6), and 
  
 (ii) increased for any amount such Person is obligated to contribute or is treated as being obligated to contribute to the Company pursuant to Treasury Regulation Section 1.704-1(b)(2)(ii)(c) (relating to partner
liabilities to a partnership) or 1.704-2(g)(1) and 1.704-2(i) (relating to Minimum Gain). 
  
 “Affiliate” of any particular Person or entity means any other person or entity controlling, controlled by or under common control with such particular person or entity, where “control”
means the possession, directly or indirectly, of the power to direct the management and policies of a Person whether through the ownership of voting securities, contract or otherwise. 
  
 “Agreement” means this Joint Venture Agreement, as amended or modified from time to time in accordance with
the terms hereof. 
  
 “AMF Managers” means the
three (3) representatives designated by AMF from time to time pursuant to the Articles, other than any individual whose employment with or service as a director or manager of the Company or any of its Subsidiaries is terminated for Just Cause,
who shall initially be Thomas J. Formolo, Richard Lobo and Fred Hipp. 
  
 “Articles” means the articles of incorporation of the Company. 
  
 “Board” means the Company’s Board of Managers established pursuant to the Articles. 
  
 “Book Value” means, with respect to any Company property, the Company’s adjusted basis for federal income tax purposes, adjusted
from time to time to reflect the adjustments required or permitted by Treasury Regulation Section 1.704-1(b)(2)(iv)(d)-(g). 
  
 “Budget” means the annual budget and operating plan of the Company and its Subsidiaries (including the Debt Amortization Schedule) as
approved pursuant to the Articles. 
  

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 “Capital Account” means the capital account maintained for a Shareholder pursuant to
Section 3.2. 
  
 “Capital
Contributions” means any cash, cash equivalents, promissory obligations, or the Fair Market Value of other property that a Person pays to the Company or is deemed to have paid to the Company in exchange for Shares, PECS and/or CPECS.

  
 “Code” means the Luxembourg law of
10 August 1915 on commercial companies, as amended. 
  
 “Company Interest” means the interest of a Shareholder, CPEC Holder or PEC Holder in Profits, Losses, and Distributions of the Company. 
  
 “Company Quarter” means each quarter of the Company’s then current fiscal or calendar year.

  
 “Company Year” means the Company’s
fiscal year established pursuant to the Articles. 
  
 “Contribution Agreement” means the Contribution Agreement, dated as of June 13, 2005, by and among the Company, AMF and Qubica. 
  

“CPEC” means a Convertible Preferred Equity Certificate in the registered form issued by the Company, each having a par value (and
face amount) of twenty-five euro (EUR 25.00) and the rights and obligations specified with respect to the CPECS in this Agreement and in the terms and conditions of the CPECS. 
  
 “CPEC Holder” means any owner of one or more CPECS issued by the Company, as shown on the Company’s
register of CPECS. 
  
 “Deadlock Offer Price”
means the aggregate amount which the Selling Shareholder would receive in accordance with Section 4.1(e) of this Agreement in respect of its PECS, CPECS and Shares assuming all PECS, CPECS and Shares then outstanding (including all CPECS
and Shares issuable upon the exercise of in-the-money options) were sold pursuant to a Sale of the Company on the date of delivery of the Deadlock Offer Notice for an aggregate purchase price equal to (x) (i) if the Deadlock Offer Notice
is delivered on or prior to the 18-month anniversary of the Effective Date, 5.0 multiplied by the Company’s EBITDA for the twelve (12) full calendar months immediately preceding the date of delivery of the Deadlock Offer Notice or
(ii) if the Deadlock Offer Notice is delivered after the 18-month anniversary of the Effective Date, 5.5 multiplied by the Company’s EBITDA for the twelve (12) full calendar months immediately preceding the date of delivery of the
Deadlock Offer Notice, minus (y) the aggregate amount of all outstanding Indebtedness of the Company and its Subsidiaries as of such date, plus (z) the aggregate amount of all cash and cash equivalents held by or on behalf of the Company
or its Subsidiaries as of such date. 
  
 “Distribution” means each payment made by the Company to any Person in respect of any Shares, CPECS or PECS held by such Person, whether in cash, property or securities of the Company and whether by dividend, redemption,
repurchase, payment of yield, liquidating distribution or otherwise; provided that none of the following shall be deemed a “Distribution” for purposes of this Agreement: (i) any recapitalization, exchange or conversion of
securities of the Company (including any exchange of PECS for CPECS or other PECS, any exchange of CPECS for PECS or other CPECS or any conversion of CPECS into Shares); (ii) any redemption or repurchase of Shares, CPECS or PECS from a former

  

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manager, officer, employee or consultant of the Company or any of its Subsidiaries pursuant to any written agreement between the Company and such manager,
officer, employee or consultant as approved by the Board; and (iii) any subdivision or combination of any outstanding Shares, CPECS or PECS. 
  
 “EBITDA” means, for any period, the net income of the Company and its Subsidiaries for such period, prior to reduction or addition, as
applicable, for (i) interest expense (including, without limitation, amortization of debt issuance costs) for such period, (ii) taxes (whether federal, state, local or foreign) based on income or profits for such period,
(iii) depreciation, amortization (including amortization of goodwill and other intangibles) and other non-cash charges for such period, (iv) non-recurring expenses for such period associated with the creation of the joint venture and the
combination of the AMF Products Business and the Qubica Products Business, (v) the aggregate amount of the Rebate (as defined in the Supply Agreement) for such period (i.e., the ten percent (10%) reduction in the amount owed by AMF Centers
to AMF Products and Qubica Products for such period pursuant to the Supply Agreement) to the extent the parties to the Supply Agreement agree to terminate such Rebate as of the Put Closing or Deadlock Closing, as applicable, and (vi) unusual or
other non-recurring charges or items of gain or loss, in each case determined on a consolidated basis in accordance with GAAP. 
  
 “Excess Operating Cash Flow” means, for any particular Company Quarter, an amount of cash equal to (i) the consolidated EBITDA of
the Company and its Subsidiaries for such Company Quarter, minus (ii) all cash payments by the Company and its Subsidiaries during such Company Quarter in respect of capital expenditures, minus (iii) all cash payments by the Company and
its Subsidiaries during such Company Quarter in respect of accrued interest on indebtedness for borrowed money, minus (iv) all cash payments by the Company and its Subsidiaries in respect of taxes based on income or profits for such Company
Quarter, minus (v) the aggregate amount of all Tax Distributions made by the Company in respect of such Company Quarter, and minus (vi) for each of the first twelve (12) Company Quarters following the Effective Date, an amount equal
to (a) the aggregate amount of all indebtedness for borrowed money of the Company and its Subsidiaries as of immediately following the Closing, divided by (b) twelve (12), and for each Company Quarter thereafter, zero. 
  
 “Fair Market Value” means, with respect to any asset or
equity interest, its fair market value as determined in accordance with ARTICLE XI. 
  
 “Fundamental Change” means (a) a Fundamental Change (as defined in the Articles) and (b) any action proposed to be taken by a Subsidiary of the Company which, if taken by the Company, would
constitute a Fundamental Change (as defined in the Articles). 
  
 “GAAP” means United States generally accepted accounting principles, consistently applied. 
  
 “Global Coordinator” means an investment banking firm of internationally recognized standing, who shall not have any material
relationship with the Company, AMF or Qubica, and who shall be selected by the Board within thirty (30) days following the delivery of a Liquidity Request pursuant to Section 10.2(a) below; provided, however, if the
Board is unable to agree on the selection of a Global Coordinator within such period, the AMF Managers and the Qubica Managers shall each select within ten (10) days after the expiration of such period one (1) such investment banking firm,
and the two investment banking firms shall jointly select a third investment banking firm, which shall serve as the sole Global Coordinator for the purposes of this Agreement; provided, further, that if either the AMF Managers or the
Qubica Managers fail to select one (1) such investment banking firm with such ten (10) day period, the investment banking firm selected by the other shall serve as the sole Global Coordinator for the purposes of this Agreement. 

 

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 “Governmental Entity” means any nation, province or state, or any political subdivision
thereof, or any entity exercising executive, legislative, judicial, regulatory or administrative functions of government or any agency or department or subdivision of any governmental authority. 
  
 “Headquarters” has the meaning set forth in
Section 2.6. 
  
 “Indebtedness”
means, as of any particular date, without duplication, (i) indebtedness of the Company or any of its Subsidiaries for borrowed money or issued in substitution or exchange for indebtedness for borrowed money, (ii) indebtedness evidenced by
a note, bond, debenture or other debt security of the Company or any of its Subsidiaries (but excluding any PEC or CPEC), (iii) indebtedness for the deferred purchase price of property or services with respect to which the Company or any of its
Subsidiaries is liable, contingently or otherwise (other than trade payables and other current liabilities incurred in the ordinary course of business which are not more than sixth months past due), (iv) any obligations under capitalized leases
with respect to which the Company or any of its Subsidiaries is liable, contingently or otherwise, as obligor, guarantor or otherwise, or with respect to which obligations the Company or any of its Subsidiaries assures a creditor against loss,
(v) indebtedness secured by a Lien on the assets of the Company or any of its Subsidiaries (excluding any letters of credit), (vi) accrued but unpaid Taxes of the Company or any of its Subsidiaries based on income or profits (net of all
prepayments of such Taxes and net of any income Tax credits to the extent such credits will reduce, in the current Tax period, the amount of any such Taxes) and (vii) accrued interest to and including such date in respect of any of the
obligations described in the foregoing clause (i) through (vi) of this definition and all premiums, penalties, charges, fees, expenses and other amounts which would be due if such obligations were paid or prepaid in full as of such date.

  
 “Just Cause” means (i) a willful act
which constitutes gross misconduct, fraud or embezzlement; (ii) the commission of, or the pleading of guilty or no contest to, any felony or crime which the Board reasonably determines would have an adverse effect on (A) the reputation of
AMF, Qubica, the Company and/or any of its Subsidiaries or their respective relationships with suppliers, customers, employees or others, (B) the ability to effectively perform duties as an Officer, Manager or employee of the Company or any of
its Subsidiaries, or (C) the business, operations or financial condition of the Company and/or its Subsidiaries, and/or (iii) willful action taken for the purpose of harming the Company and/or its Subsidiaries. 
  
 “Key Executive” means each of Emanuele Govoni, Luca Drusiani
and Roberto Vaioli. 
  
 “Liens” means any
mortgage, pledge, security interest, encumbrance, lien, or charge of any kind (including, without limitation, any conditional sale or other title retention agreement or lease in the nature thereof), any sale of receivables with recourse against the
Company, any Subsidiary or any Affiliate thereof, any filing or agreement to file a financing statement as debtor under the Uniform Commercial Code or any similar statute other than to reflect ownership by a third party of property leased to the
Company, any Subsidiary or any Affiliate under a lease which is not in the nature of a conditional sale or title retention agreement, or any subordination arrangement in favor of another Person (other than any subordination arising in the ordinary
course of business). 
  
 “Losses” means items of
Company loss and deduction determined according to Section 3.2. 
  
 “Manager” means a current Manager on the Board, who, for purposes of the Articles, will be deemed a “Manager” (as defined in the Articles) but will be subject to the rights, obligations,
limitations and duties set forth in this Agreement. 
  

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 “Minimum Gain” means the partnership minimum gain determined pursuant to Treasury
Regulation Section 1.704-2(d). 
  
 “Nextia”
means Nextia S.r.l., a limited liability company organized under the laws of Italy. 
  
 “Officer” means a person designated as an officer of the Company or any of its Subsidiaries to whom authority and duties have been delegated pursuant to the Articles (including, but not limited to,
the chief executive officer and president, the chief financial officer, the vice president(s) and the secretary) or equivalent governing document of any Subsidiary, as the case may be, subject to any resolution of the Board appointing such person as
an officer or relating to such appointment. 
  
 “PEC” means a Preferred Equity Certificate in registered form issued by the Company, each having a par value (and face amount) of one euro (EUR 1.00) and the rights and obligations specified with respect to the Preferred
Equity Certificates in this Agreement and in the terms and conditions of the PECS. 
  
 “PEC Holder” means any owner of one or more PECS issued by the Company, as shown on the Company’s register of PECS. 
  
 “Preferred Unpaid Yield” of any PEC means, as of any date, an amount equal to the excess, if any, of
(a) the aggregate Preferred Yield accrued on such PEC for all periods prior to such date (including partial periods), over (b) the aggregate amount of prior Distributions made by the Company that constituted payment of Preferred Yield on
such PEC. 
  
 “Preferred Yield” means, with
respect to each PEC, the amount accruing on such PEC on a daily basis, at the rate of 10% per annum, compounded on the last day of each calendar year, on (a) the Par Value of such PEC (as defined in the terms and conditions of such PEC)
plus (b) the Preferred Unpaid Yield thereon, if any, for all prior years. In calculating the amount of any Distribution to be made during a period, the portion of the Preferred Yield with respect to such PEC for the portion of the quarterly
period elapsing before such Distribution is made shall be taken into account in determining the amount of such Distribution. 
  
 “Person” means an individual, a partnership, a corporation, a limited liability company, an association, a joint stock company, a
trust, a joint venture, an unincorporated organization, any other business entity, or a Governmental Entity. 
  
 “Profits” means items of Company income and gain determined according to Section 3.2. 
  
 “Public Offering” means any offering of the Shares of the
Company (or a successor thereto) that are listed on a securities exchange or otherwise publicly offered (which shall include an offering pursuant to Rule 144A and/or Regulation S under the Securities Act, to professional market investors or similar
persons); provided that the following shall not be considered a Public Offering: (i) any issuance of Shares as consideration for a merger or acquisition, and (ii) any issuance of Shares or rights to acquire Shares to employees of
the Company or its Subsidiaries as part of an incentive or compensation plan. 
  
 “Put Offer Price” means the aggregate amount which the Selling Shareholder would receive in accordance with Section 4.1(e) of this Agreement in respect of its PECS, CPECS and Shares
assuming all PECS, CPECS and Shares then outstanding (including all CPECS and Shares issuable upon 

  

 - 6 - 

 
the exercise of in-the-money options) were sold pursuant to a Sale of the Company on the date of delivery of the Put Offer Notice for an aggregate purchase
price equal to (x) the product of (a) 6.5 multiplied by (b) the Company’s EBITDA for the twelve (12) full calendar months immediately preceding the date of delivery of the Put Notice, minus (y) the aggregate amount of
all outstanding Indebtedness of the Company and its Subsidiaries as of such date, plus (z) the aggregate amount of all cash and cash equivalents held by or on behalf of the Company or its Subsidiaries as of such date. 
  
 “Qubica Managers” means the three (3) representatives
designated by Qubica from time to time pursuant to the Articles, other than any individual whose employment with or service as a director or manager of the Company or any of its Subsidiaries is terminated for Just Cause, who shall initially be Marc
Koeune, Emanuele Govoni and Paolo Baretta. 
  
 “Regulatory
Allocations” has the meaning set forth in Section 4.3(e). 
  
 “Required Interest” means 75% or more of the outstanding Shares of the Company. 
  
 “Sale of the Company” means any transaction or series of transactions pursuant to which any Person or group of related Persons (other
than an Initial Shareholder) in the aggregate acquire(s) (i) all or substantially all of the Shares outstanding on a fully-diluted basis at the time of such transaction or series of transactions or (ii) all or substantially all of the
Company’s and its Subsidiaries’ assets determined on a consolidated basis, in any case whether by merger, consolidation, joint venture, reorganization, liquidation or otherwise; provided that a Public Offering shall not constitute a
Sale of the Company. 
  
 “Securities Act” means
the Securities Act of 1933, as amended, and applicable rules and regulations thereunder, and any successor to such statute, rules, or regulations. Any reference herein to a specific section, rule, or regulation of the Securities Act shall be deemed
to include any corresponding provisions of future law. 
  
 “Share” means a share representing a fractional part of the interest of a Shareholder in Profits, Losses and Distributions and having the rights and obligations specified in the Articles and this Agreement. 
  
 “Shareholder” means any owner of one or more Shares issued
by the Company as reflected on the Company’s books and records. 
  
 “Shareholder Group” has the meaning set forth in Section 5.2. 
  
 “Strategic Plan” has the meaning set forth in Section 2.10. 
  
 “Subsidiary” means, with respect to any Person, any corporation, limited liability company, partnership,
association, or business entity of which (i) if a corporation, a majority of the total voting power of shares of stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers, or trustees
thereof is at the time owned or controlled, directly or indirectly, by that Person or one or more of the other Subsidiaries of that Person or a combination thereof, or (ii) if a limited liability company, partnership, association, or other
business entity (other than a corporation), a majority of partnership or other similar ownership interest thereof is at the time owned or controlled, directly or indirectly, by that Person or one or more Subsidiaries of that Person or a combination
thereof. For purposes hereof, a Person or Persons shall be deemed to have a majority ownership interest in a limited liability company, partnership, association, or other business entity (other 

  

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than a corporation) if such Person or Persons shall be allocated a majority of limited liability company, partnership, association, or other business entity
gains or losses or shall be or control any managing director or general partner of such limited liability company, partnership, association, or other business entity. For purposes hereof, references to a “Subsidiary” of any Person
shall be given effect only at such times that such Person has one or more Subsidiaries, and, unless otherwise indicated, the term “Subsidiary” refers to a Subsidiary of the Company. Notwithstanding the foregoing, for purposes of
determining any amount hereunder with respect to any Subsidiary of the Company that is not then wholly-owned, directly or indirectly, by the Company, such determination shall include only a pro rata percentage of such amount based on the
Company’s direct or indirect ownership percentage of such Subsidiary. 
  
 “Supply Agreement” means that certain Supply Agreement, dated as of the date hereof, to be effective as of the Effective Date, by and among AMF Products, AMF Mexico, the Company, Qubica Products and
AMF Bowling Centers, Inc., a Delaware corporation (“AMF Centers”). 
  
 “Tax” or “Taxes” means any federal, state, county, local, foreign or other income, gross receipts, ad valorem, franchise, profits, sales or use, transfer, registration, excise,
utility, environmental, communications, real or personal property, capital stock, license, payroll, wage or other withholding, employment, social security, severance, stamp, occupation, alternative or add-on minimum, estimated and other taxes of any
kind whatsoever (including, without limitation, deficiencies, penalties, additions to tax, and interest attributable thereto) whether disputed or not. 
  
 “Tax Code” means the United States Internal Revenue Code of 1986, as amended. Such term shall be deemed to include any future amendments
to the Tax Code and any corresponding provisions of succeeding Tax Code provisions (whether or not such amendments and corresponding provisions are mandatory or discretionary; provided, however, if they are discretionary, the term
“Tax Code” shall not include them if including them would have a material adverse effect on either Initial Shareholder). 
  
 “Tax Distribution” has the meaning set forth in Section 4.1(b). 
  
 “Tax Matters Partner” has the meaning set forth in Section 7.3. 
  
 “Taxable Year” means the Company Year unless the Board
determines otherwise in compliance with applicable laws. 
  
 “Transaction Documents” means this Agreement, the Contribution Agreement and all other agreements, instruments, certificates and other documents contemplated hereby or thereby. 
  
 “Transfer” means any sale, transfer, assignment, pledge,
mortgage, exchange, hypothecation, grant of a security interest or other direct or indirect disposition or encumbrance of an interest (including, without limitation, by operation of law) or the acts thereof, but explicitly excluding conversions or
exchanges of one class of Shares to or for another class of Shares. The terms “Transferor,” “Transferee,” “Transferred,” and other forms of the word “Transfer” shall have
correlative meanings. 
  
 “Treasury Regulations”
means the income tax regulations promulgated under the Tax Code and effective as of the date hereof. Such term shall, at the Board’s sole discretion, be deemed to include any future amendments to such regulations and any corresponding
provisions of succeeding regulations (whether or not such amendments and corresponding provisions are mandatory or 

  

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discretionary; provided, however, that if they are discretionary, the term “Treasury Regulations” shall not include them if including them
would have a material adverse effect on either Initial Shareholder). 
  
 ARTICLE II — ORGANIZATIONAL MATTERS 
  
 2.1 Formation. The Company has been formed as a société à responsabilité limitée (“SARL”) under the laws of Luxembourg under and pursuant to the Articles and shall be
continued in accordance with the Articles and this Agreement. The Shareholders hereby agree to execute, file and record all such other certificates and documents and to do such other acts as may be appropriate to comply with all requirements for the
formation, continuation and operation of a SARL, the ownership of property, and the conduct of business under the laws of Luxembourg and any other jurisdiction in which the Company or any Subsidiary may own property or conduct business. Other than
in connection with the execution and delivery of the Transaction Documents, the Company has no liabilities or other obligations and has conducted no business prior to the date hereof and shall not conduct any business prior to the Effective Date.
Upon the closing of the transactions contemplated by Section 1B of the Contribution Agreement, the Company will issue to AMF and Qubica, respectively, the number of Shares, CPECS and PECS set forth opposite such Initial Shareholder’s name
on Schedule A attached hereto such that initially each of AMF, on the one hand, and Qubica, on the other hand, shall hold and own 50% of the issued share capital of the Company. 
  
 2.2 Name. The name of the Company shall be QubicaAMF Worldwide, S.à.R.L. The Shareholders, with the
quorum and majority requirements applicable to amendments of the Articles, may change the name of the Company at any time and from time to time. The Company’s business may be conducted under its name and/or any other name or names deemed
advisable by the Board. 
  
 2.3 Purpose. The purpose
of the Company is as set forth in article 2 of the Articles. Notwithstanding anything herein to the contrary, nothing set forth herein shall be construed as authorizing the Company to possess any purpose or power, or to do any act or thing,
forbidden by law. Subject to the provisions of this Agreement and the other agreements contemplated hereby, (i) the Company may, with the approval of the Board, enter into and perform under any and all documents, agreements and instruments, all
without any further act, vote or approval of any Shareholder, and (ii) the Board may authorize any Person (including any Shareholder, Manager or Officer) to enter into and perform under any document, agreement or instrument on behalf of the
Company. 
  
 2.4 Powers of the Company. Subject to
the provisions of the Articles, this Agreement and the agreements contemplated hereby, the Company shall have the power and authority to take any and all actions necessary, appropriate, proper, advisable, convenient or incidental to or for the
furtherance of the purposes set forth in Section 2.3, including the power: 
  
 (a) to conduct its business, carry on its operations and have and exercise the powers granted to a SARL by the Code and the Articles within Luxembourg and/or any other country that may be necessary, convenient or
incidental to the accomplishment of the purpose of the Company; 
  
 (b) to acquire by purchase, lease, contribution of property or otherwise, own, hold, operate, maintain, finance, refinance, improve, lease, sell, convey, mortgage, transfer, demolish or dispose of any real or personal property that may be
necessary, convenient or incidental to the accomplishment of the purpose of the Company; 
  

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 (c) to enter into, perform and carry out contracts of any kind, including contracts with any Shareholder
or any Affiliate thereof, or any agent of the Company necessary to, in connection with, convenient to or incidental to the accomplishment of the purpose of the Company; 
  
 (d) to purchase, take, receive, subscribe for or otherwise acquire, own, hold, vote, use, employ, sell, mortgage, lend,
pledge, or otherwise dispose of, and otherwise use and deal in and with, shares or other interests in or obligations of domestic or foreign corporations, associations, general or limited partnerships (including the power to be admitted as a partner
thereof and to exercise the rights and perform the duties created thereby), trusts, limited liability companies (including the power to be admitted as a shareholder or appointed as a manager thereof and to exercise the rights and perform the duties
created thereby) or individuals or direct or indirect obligations of any government, state, territory, governmental district or municipality or of any instrumentality of any of them; 
  
 (e) to lend money for any proper purpose, to invest and reinvest its funds and to take and hold real and personal property
for the payment of funds so loaned or invested; 
  
 (f) to sue and
be sued, complain and defend, and participate in administrative or other proceedings in its name; 
  
 (g) to appoint employees and agents of the Company and define their duties and fix their compensation; 
  
 (h) to indemnify any Person in accordance with the Articles and the Code and
to obtain any and all types of insurance; 
  
 (i) to cease its
activities; 
  
 (j) to negotiate, enter into, renegotiate, extend,
renew, terminate, modify, amend, waive, execute, acknowledge or take any other action with respect to any lease, contract or security agreement in respect of any assets of the Company; 
  
 (k) to borrow money and issue evidences of indebtedness and guaranty indebtedness (whether of the Company or any of its
Subsidiaries), and to secure the same by a mortgage, pledge or other Lien on the assets of the Company; 
  
 (l) to pay, collect, compromise, litigate, arbitrate or otherwise adjust or settle any and all other claims or demands of or against the Company or to
hold such proceeds against the payment of contingent liabilities; and 
  
 (m) to make, execute, acknowledge and file any and all documents or instruments necessary, convenient or incidental to the accomplishment of the purpose of the Company. 
  
 2.5 Foreign Qualification. Prior to the Company’s conducting business in any jurisdiction
other than Luxembourg, the Board shall cause the Company to comply, to the extent procedures are available and those matters are reasonably within the control of the Board, with all requirements necessary to qualify the Company as a foreign limited
liability company in that jurisdiction. At the request of the Board or any Officer, each Shareholder shall execute, acknowledge, swear to and deliver all certificates and other instruments conforming with this Agreement that are necessary or
appropriate to qualify, continue and terminate the Company as a foreign limited liability company in all such jurisdictions in which the Company may conduct business. 
  

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 2.6 Registered Office; Principal Office. The registered office of the Company shall be
established in Luxembourg. The registered office may be transferred to any other place in the Grand Duchy of Luxembourg by means of a resolution of a general meeting of the Shareholders. The Company’s principal headquarters
(“Headquarters”) will be in Richmond, Virginia, United States. The Company’s automatic scoring and strategic marketing divisions will be located in Bologna, Italy. Branches or other offices may be established either in
Luxembourg or abroad as the Board deems advisable. 
  
 2.7
Term. The term of the Company commenced upon the date of incorporation before a notary and shall continue in existence until termination and dissolution thereof in accordance with the Articles. 
  
 2.8 Partnership Status for Tax Purposes. The Shareholders, PEC
Holders and CPEC Holders intend that the Company shall be treated as a partnership for United States federal and, if applicable, state and local income tax purposes, and that the Company and each Shareholder, PEC Holder and CPEC Holder shall file
all tax returns and shall otherwise take all tax and financial reporting positions in a manner consistent with such treatment, and, at the request of the Company, each Shareholder, PEC Holder and CPEC Holder shall execute IRS Form 8832 (and any
corresponding form under state and local law) for such purpose. Without the consent of the holders of the Required Interest, the Company shall not make an election to be treated as a corporation for U.S. federal income tax purposes pursuant to
Treasury Regulation 301.7701-3 (or any successor regulation or provision) and, if applicable, U.S. state or local income tax purposes. Except for tax purposes as otherwise set forth in this Section 2.8, the Shareholders, PEC Holders and
CPEC Holders intend that the Company not be a partnership (including, without limitation, a limited partnership), that no Shareholder, PEC Holder or CPEC Holder be a partner of any other Shareholder, PEC Holder or CPEC Holder by virtue of this
Agreement and that neither this Agreement nor any other document entered into by the Company or any Shareholder, PEC Holder or CPEC Holder relating to the subject matter hereof shall be construed to suggest otherwise. 
  
 2.9 Related Party Transactions. Except as set forth on the
attached Company Affiliated Transactions Schedule attached hereto as Schedule B and except as expressly contemplated by the Transaction Documents, the Company shall not, and shall cause each of its Subsidiaries to not, engage in any
agreement, contract, commitment or transaction with any officer, director, manager, employee, shareholder or Affiliate (other than the Company and its Subsidiaries) of AMF or Qubica or with any individual related by blood, marriage or adoption to
any such individual or any entity in which any such Person or individual owns any beneficial interest, without the prior approval of the Board. 
  
 2.10 Strategic Plan. Pursuant to the terms set forth in the Articles, the Board shall establish a strategic planning committee to review and
evaluate the Company’s annual, five-year strategic business plan prepared by the Company’s senior management team at the direction of the Company’s chief executive officer (the “CEO”), which shall include without
limitation the Budget and annual operating plan for the current fiscal year, which shall have been previously prepared by the Company’s senior management team at the direction of the CEO and approved by the Board (the “Strategic
Plan”). The Company’s initial Strategic Plan is attached hereto as Schedule C. 
  
 2.11 Management of the Company and its Subsidiaries. 
  
 (a) Each of AMF, Qubica and the Company agrees to take all actions necessary or advisable to (i) cause each Subsidiary
of the Company to execute and deliver this Agreement and each other Transaction Document to which such Subsidiary is named as a party thereto and (ii) cause each Subsidiary of the Company to perform all obligations of such Subsidiary under, and
to carry out and 

  

 - 11 - 

 
consummate the transactions contemplated by, this Agreement and each other Transaction Document to which such Subsidiary is a party. 
  
 (b) Each of the Company, AMF and Qubica agrees to take all actions necessary
or advisable to cause the Board to be comprised at all times of the AMF Managers and the Qubica Managers. 
  
 (c) Except as otherwise determined by the Board, the Company agrees to take all actions necessary or advisable to cause John Walker to be appointed at all
times as the Company’s Chief Executive Officer. 
  
 (d)
Except as otherwise determined by the Board, the Company agrees to take all actions necessary or advisable to cause the board of directors or managers (or equivalent governing body) of each of AMF BV, AMF Products and Qubica Products (and any other
direct Subsidiary of the Company from time to time) to be comprised at all times from and after the Effective Date of (i) the chief executive of such entity from time to time, who shall initially be John Walker, and (ii) an equal number of
representatives designated from time to time by each of AMF and Qubica. 
  
 (e) Except as otherwise determined by its board of directors or managers (or equivalent governing body), each of AMF BV, AMF Products and Qubica Products agrees to take all actions necessary or advisable to cause John Walker to be appointed
at all times from and after the Effective Date as the chief executive of such entity. 
  
 (f) Except as otherwise determined by its board of directors or managers (or equivalent governing body), each of AMF BV, AMF Products and Qubica Products agrees to take all actions necessary or advisable to cause the
board of directors or managers (or equivalent governing body) of each of their respective Subsidiaries (other than Nextia) to be comprised at all times from and after the Effective Date of (i) the chief executive of such entity from time to
time, who shall initially be John Walker, and (ii) an equal number of representatives designated from time to time by each of AMF (with respect to each such Subsidiary, as well as AMF BV, AMF Products, Qubica Products and any other direct
Subsidiary of the Company, the “AMF Sub Directors”) and designated by Qubica (with respect to each such Subsidiary, as well as AMF BV, AMF Products, Qubica Products and any other direct Subsidiary of the Company, the “Qubica
Sub Directors”). 
  
 (g) Except as otherwise determined
by its board of directors or managers (or equivalent governing body), each of AMF India, AMF Mexico, AMF Poland, AMF Russia, Qubica Canada, Qubica USA and Aquta agrees to take all actions necessary or advisable to cause John Walker to be appointed
at all times from and after the Effective Date as the chief executive of such entity. 
  
 (h) Each of the Company, AMF BV, AMF Products, Qubica Products, AMF India, AMF Mexico, AMF Poland, AMF Russia, Qubica Canada, Qubica USA and Aquta agrees to take all actions necessary or advisable to cause the
articles and bylaws (or equivalent governing documents) of such Person, other than the Company, to be amended as of the Effective Date such that: (i) all matters thereafter subject to the approval of the board of directors or managers (or
equivalent governing body) of such Person (other than those matters specified in clause (ii) below) shall require the affirmative vote of a number of the directors or managers (or equivalent governing representatives) of such Person equal to
(A) the total number of directors or managers (or equivalent governing representatives) of such Person, divided by (B) two (the result of which, if not a whole number, shall be rounded up to the nearest whole number), plus (C) one;
and (ii) all matters thereafter subject to the approval of the board of directors or managers (or equivalent governing body) of such Person related to (x) the delegation, assignment, 

  

 - 12 - 

 
revocation or modification of the duties, responsibilities, functions and authority of any and all directors, managers and officers of such Person and/or
(y) in the case of Qubica Products, the removal of the directors of Nextia and/or the delegation, assignment, revocation or modification of the duties, responsibilities, functions and authority of the directors of Nextia, shall require the
affirmative vote of only a simple majority of the total number of directors or managers (or equivalent governing representatives of such Person (but including the affirmative vote of the chief executive of such Person, who shall initially be John
Walker). 
  
 (i) Except as otherwise required hereunder, each of
AMF BV, AMF Products, Qubica Products, AMF India, AMF Mexico, AMF Poland, AMF Russia, Qubica Canada, Qubica USA and Aquta agrees not to take any action described in clause (b) of the definition of Fundamental Change without the prior written
approval of both a majority of the AMF Sub Directors then serving on the board of directors or managers (or equivalent governing body) of such entity and a majority of the Qubica Sub Directors then serving on the board of managers (or equivalent
governing body) of such entity. 
  
 2.12 Certain
Executives. 
  
 (a) The CEO (in his capacity as the CEO of
the Company or as the chief executive of each of the Subsidiaries of the Company) may not, at any time on or prior to the second anniversary of the Effective Date, terminate any Key Executive’s employment or consulting arrangement with, or
service as a manager or director (or equivalent governing representative) of, any of the Company’s Subsidiaries, unless the Board (or equivalent governing body of the applicable Subsidiary of the Company) makes a determination of Just Cause and
approves such termination; it being agreed that, after the second anniversary of the Effective Date, the CEO (in his capacity as the CEO of the Company and the chief executive of each of its Subsidiaries) may, in his sole discretion and for any
reason whatsoever, cause any such termination of a Key Executive. In the event any Key Executive’s employment or consulting arrangement with, or service as a manager or director (or equivalent governing representative) of, any of the
Company’s Subsidiaries is terminated for any reason whatsoever, other than for Just Cause, the CEO (in his capacity as the CEO of the Company and/or as the chief executive of the applicable Subsidiaries of the Company) shall be responsible for
the replacement of such Person and such replacement shall be subject to the approval of a majority of the Qubica Managers (in their capacity as members of the Board or members of the equivalent governing body of the applicable Subsidiaries of the
Company); provided that if any such termination is for Just Cause, such replacement shall be subject only to the approval of the Board (or the equivalent governing body of the applicable Subsidiaries of the Company); provided,
further, the foregoing shall not limit Qubica’s right to designate the Qubica Managers or the Qubica Sub Directors. 
  
 (b) If, at any time on or prior to the third anniversary of the Effective Date, any Key Executive voluntarily terminates his service as a manager or
director (or equivalent governing representative) of the Company or any of its Subsidiaries, or his employment or consulting arrangement with any of the Company’s Subsidiaries, for any reason whatsoever, AMF shall immediately have the ability
to exercise its rights pursuant to Section 10.1 and, if applicable, Section 10.2 below, unless such termination is (i) due to the death or disability of such Key Executive (as determined in good faith by the board of
directors or managers (or equivalent governing body) of such Subsidiary) or (ii) due to the resignation of such Key Executive from his position as a manager or director (or equivalent governing representative) of such Subsidiary in connection
with the approval of a transaction or other arrangement by the board of managers or directors (or equivalent governing body) of such Subsidiary for which such Key Executive withheld his approval after determining (based on a written opinion of
independent legal counsel) that such transaction or arrangement would likely result in personal liability to such Key Executive, but, in the case of clause (ii), only if concurrently therewith such Key Executive is willing to 

  

 - 13 - 

 
enter into an alternative arrangement substantially identical in substance to his then current engagement agreement with such Subsidiary, which alternative
arrangement shall include, without limitation, an obligation of such Key Executive to perform the same duties and responsibilities that he performed as of immediately prior to such resignation, at the same level of aggregate compensation that he
received as of immediately prior to such resignation. 
  
 (c) In
the event any Key Executive’s service as a manager or director (or equivalent governing representative) of the Company or any of its Subsidiaries, or his employment or consulting arrangement with any of the Company’s Subsidiaries, is
terminated for Just Cause, Qubica and its representatives on the Board and the equivalent governing body of each applicable Subsidiary of the Company shall take all actions necessary or advisable to cause such Key Executive to be removed promptly
after such termination from all positions as a Manager or Officer of the Company and as a manager, director or officer (or equivalent governing position) of each of the Company’s Subsidiaries. 
  
 (d) Qubica agrees that it shall not employ or otherwise retain the services
of any Key Executive or any Qubica Manager as an employee, officer or consultant of Qubica. 
  
 2.13 Reorganization. As soon as practicable after the Closing, each of the Company, Qubica Products, AMF BV, Qubica Canada and Qubica USA shall take all actions necessary or desirable, including, without
limitation, executing and delivering definitive agreements mutually acceptable to a majority of each of the AMF Managers and the Qubica Managers (and a majority of each of the AMF Sub Directors and Qubica Sub Directors of Qubica Products, AMF BV,
Qubica Canada and Qubica USA), to cause Qubica Products to transfer to the Company all of its right, title and interest in and to all of the outstanding equity interests of each of Qubica Canada and Qubica USA in exchange for the transfer by the
Company to Qubica Products of all of the Company’s right, title and interest in and to all of the outstanding equity interests of AMF BV (the “Reorganization”); provided that the Reorganization shall not be consummated,
in whole or in part, if it is determined in good faith by AMF, in its sole discretion, that all or any portion of the Reorganization would cause the Company or AMF, or any of their respective Subsidiaries or other Affiliates, to suffer any adverse
legal, tax, accounting or other consequences. 
  
 ARTICLE III
— CAPITAL CONTRIBUTIONS AND CAPITAL ACCOUNTS 
  
 3.1
Capital Contributions. 
  
 (a) General. Each
Person named on Schedule A attached hereto has made Capital Contributions to the Company as set forth on Schedule A, free and clear of all Liens, in exchange for the Shares, PECS and CPECS specified thereon, and each such
Person’s initial Capital Account established pursuant to such Capital Contributions is set forth on Schedule A. Any reference in this Agreement to Schedule A shall be deemed to be a reference to Schedule A as amended and in
effect from time to time. The Company and each Shareholder, PEC Holder and CPEC Holder shall file all tax returns, including any schedules thereto in a manner consistent with such initial Capital Accounts. Each such Person’s interest in the
Company, including such Person’s interest in Profits, Losses and Distributions of the Company and the right to vote on certain matters as provided in this Agreement, shall be represented by the terms and conditions of the PECS, CPECS and Shares
owned by such Person and the provisions of the Articles and this Agreement. The ownership of PECS, CPECS and Shares shall entitle each holder thereof to allocations of Profits and Losses and other items and Distributions as set forth in ARTICLE
IV hereof. The Board may in its discretion issue certificates to each holder of PECS, CPECS and/or Shares. 
  
 (b) Representations and Warranties. Each Shareholder, PEC Holder and CPEC Holder hereby represents and warrants to the Company and the other
Shareholders, PEC Holders and 

  

 - 14 - 

 
CPEC Holders and acknowledges that: (i) such Person has knowledge and experience in financial and business matters and is capable of evaluating the
merits and risks of an investment in the Company and making an informed investment decision with respect thereto; (ii) such Person has reviewed and evaluated all information necessary to assess the merits and risks of his, her or its investment
in the Company and has had answered to such Person’s satisfaction any and all questions regarding such information; (iii) such Person is able to bear the economic and financial risk of an investment in the Company for an indefinite period
of time; (iv) such Person is acquiring interests in the Company for investment only and not with a view to, or for resale in connection with, any distribution to the public or public offering thereof; (v) the interests in the Company have
not been registered under the securities laws of any jurisdiction and cannot be disposed of by way of public offering unless they are registered and/or qualified under applicable securities laws and the provisions of this Agreement have been
complied with; (vi) to the extent applicable, the execution, delivery and performance of this Agreement have been duly and unanimously authorized by such Person and do not require such Person to obtain any consent or approval that has not been
obtained and do not contravene or result in a default under any provision of any law or regulation applicable to such Person or other governing documents or any agreement or instrument to which such Person is a party or by which such Person is
bound; (vii) the determination of such Person to purchase interests in the Company has been made by such Person independent of any other Person and independent of any statements or opinions as to the advisability of such purchase, which may
have been made or given by any other Person (other than as expressly set forth in the Contribution Agreement) or by any agent or employee of any other Person; (viii) the interests in the Company were not offered to such Person by means of
general solicitation or general advertising; and (ix) this Agreement is valid, binding and enforceable against such Person in accordance with its terms. 
  
 (c) No Liability of Shareholders, PEC Holders or CPEC Holders. 
  
 (i) No Liability. Except as otherwise provided for by applicable law and as expressly set forth in
this Agreement, no Shareholder, PEC Holder or CPEC Holder shall have any personal liability whatsoever in such Person’s capacity as a Shareholder, PEC Holder or CPEC Holder, whether to the Company, to any of the other Shareholders, PEC Holders
or CPEC Holders, to the creditors of the Company or to any other third party, for the debts, liabilities, commitments or any other obligations of the Company or for any losses of the Company. Each Shareholder, PEC Holder and CPEC Holder shall be
liable only to make such Person’s Capital Contribution to the Company and the other payments provided expressly herein. 
  
 (ii) Distribution. In accordance with the Articles and the laws of Luxembourg, a PEC Holder, CPEC Holder or Shareholder of a SARL
may, under certain circumstances, be required to return amounts previously distributed to such Person. It is the intent of the Shareholders, PEC Holders and CPEC Holders that no distribution to any Person pursuant to ARTICLE IV hereof shall
be deemed a return of money or other property paid or distributed in violation of the Articles or the Code. The payment of any such money or distribution of any such property to a PEC Holder, CPEC Holder or Shareholder shall be deemed to be a
compromise within the meaning of the Articles, and the PEC Holder, CPEC Holder or Shareholder receiving any such money or property shall not be required to return to any Person any such money or property. However, if any court of competent
jurisdiction holds that, notwithstanding the provisions of this Agreement, any PEC Holder, CPEC Holder or Shareholder is obligated to make any such payment, such obligation shall be the obligation of such Person and not of any other PEC Holder, CPEC
Holder or Shareholder. 
  

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 3.2 Capital Accounts. 
  
 (a) The Company shall maintain a separate Capital Account for each PEC Holder, CPEC Holder and Shareholder according to the
rules of Treasury Regulation Section 1.704-1(b)(2)(iv). For this purpose, the Company may (in the discretion of the Board), upon the occurrence of the events specified in Treasury Regulation Section 1.704-1(b)(2)(iv)(f), increase or
decrease the Capital Accounts in accordance with the rules of such regulation and Treasury Regulation Section 1.704-1(b)(2)(iv)(g) to reflect a revaluation of Company property. Without limiting the foregoing, the Capital Account of each
Shareholder, PEC Holder and CPEC Holder shall be adjusted: 
  
 (i) by adding any additional Capital Contributions made by such Person in consideration for the issuance of Shares, PECS or CPECS; 
  
 (ii) by deducting any amounts paid or otherwise distributed to such Person in respect of Shares, PECS or
CPECS held by such Person; and 
  
 (iii) by
adding any Profits allocated in favor of such Person and subtracting any Losses allocated in favor of such Person. 
  
 (b) For purposes of computing the amount of any item of Company income, gain, loss, or deduction to be allocated pursuant to ARTICLE IV and to be
reflected in the Capital Accounts, the determination, recognition, and classification of any such item shall be the same as its determination, recognition, and classification for U.S. federal income tax purposes (including any method of
depreciation, cost recovery, or amortization used for this purpose); provided that: 
  
 (i) the computation of all items of income, gain, loss, and deduction shall include those items described in Tax Code
Section 705(a)(l)(B) or Tax Code Section 705(a)(2)(B) and Treasury Regulation Section 1.704-1(b)(2)(iv)(i), without regard to the fact that such items are not includable in gross income or are not deductible for U.S. federal income
tax purposes; 
  
 (ii) if the Book Value of any
Company property is adjusted pursuant to Treasury Regulation Section 1.704-1(b)(2)(iv)(e) or (f), the amount of such adjustment shall be taken into account as gain or loss from the disposition of such property; 
  
 (iii) items of income, gain, loss, or deduction attributable
to the disposition of Company property having a Book Value that differs from its adjusted basis for tax purposes shall be computed by reference to the Book Value of such property; 
  
 (iv) items of depreciation, amortization, and other cost recovery deductions with respect to Company
property having a Book Value that differs from its adjusted basis for tax purposes shall be computed by reference to the property’s Book Value in accordance with Treasury Regulation Section 1.704-1(b)(2)(iv)(g); and 
  
 (v) to the extent an adjustment to the adjusted tax basis of
any Company asset pursuant to Tax Code Sections 732(d), 734(b) or 743(b) is required, pursuant to Treasury Regulation Section 1.704-1(b)(2)(iv)(m), to be taken into account in determining Capital Accounts, the amount of such adjustment to the
Capital Accounts shall be treated as an item of gain (if the adjustment increases the basis of the asset) or loss (if the adjustment decreases such basis). 
  
 3.3 Negative Capital Accounts. No PEC Holder, CPEC Holder or Shareholder shall be required to pay to the Company or any other PEC Holder,
CPEC Holder or Shareholder any 

  

 - 16 - 

 
deficit or negative balance which may exist from time to time in such Person’s Capital Account (including upon and after dissolution of the Company).

  
 3.4 No Withdrawal. No Person shall be entitled
to withdraw any part of such Person’s Capital Contributions or Capital Account or to receive any Distribution from the Company, except as expressly provided herein. 
  
 3.5 Loans. No loan to the Company by any PEC Holder, CPEC Holder or Shareholder shall be considered Capital
Contributions (it being understood that a payment in exchange for PECS or CPECS shall not be considered a loan for purposes of this Section 3.5), and the making of any such loan shall not result in any increase in the amount of the
Capital Account of such Person. The amount of any such loans shall be a debt of the Company to such Person and shall be payable or collectible in accordance with the terms and conditions upon which such loans are made. 
  
 ARTICLE IV — DISTRIBUTIONS AND ALLOCATIONS 
  
 4.1 Distributions. 
  
 (a) Distributions Generally. Except as otherwise required by
applicable law and subject to the terms and conditions of this Section 4.1, each of AMF, Qubica and the Company agrees to take all actions necessary or advisable to authorize the Company to make Distributions, and each of AMF, Qubica,
the Company and each AMF Sub and Qubica Sub agrees to take all actions necessary or advisable to permit the Company to make Distributions (including, except to the extent prohibited by applicable law, each such Subsidiary making distributions, loans
and/or other payments to the Company and each of AMF and Qubica causing its designees on the board of directors or managers (or equivalent governing body) of each such Subsidiary to approve such distributions, loans and/or other payments), when and
to the extent required by this Section 4.1 (including by Sections 4.1(b) and 4.1(c)) and as otherwise approved by the Board in its sole discretion. All Distributions shall be made only in the following order, priority and
manner: 
  
 (i) First, to the PEC Holders,
as a payment of yield on outstanding PECS in accordance with the terms and condition thereof, until each PEC Holder has received Distributions in respect of such PEC Holder’s outstanding PECS in an amount equal to the aggregate Preferred Unpaid
Yield on such PEC Holder’s outstanding PECS as of the time of such Distribution (it being understood that each Distribution made pursuant to this Section 4.1(a)(i) shall be made pro rata among the PEC Holders based on each PEC
Holder’s share of the aggregate Preferred Unpaid Yield on all outstanding PECS as of immediately prior to such Distribution), and no Distribution or any portion thereof may be made pursuant to Section 4.1(a)(ii), 4.1(a)(iii)
or 4.1(a)(iv) below until the entire amount of the Preferred Unpaid Yield on each outstanding PEC as of the time of such Distribution has been paid in full; 
  
 (ii) Second, to the PEC Holders, as a redemption of outstanding PECS in accordance with the terms and
conditions thereof, until no PECS remain outstanding (it being understood that each Distribution made pursuant to this Section 4.1(a)(ii) shall be made pro rata among the PEC Holders based on the number of outstanding PECS held by each
such PEC Holder as of immediately prior to such Distribution), and no Distribution or any portion thereof may be made pursuant to Section 4.1(a)(iii) or 4.1(a)(iv) below until all PECS have been fully redeemed by the Company; 

 
 (iii) Third, to the CPEC Holders, as a redemption
of outstanding CPECS in accordance with the terms and conditions thereof, until no CPECS remain outstanding (it being 

  

 - 17 - 

 
understood that each Distribution made pursuant to this Section 4.1(a)(iii) shall be made pro rata among the CPEC Holders based on the number of
outstanding CPECS held by each such CPEC Holder as of immediately prior to such Distribution), and no Distribution or any portion thereof may be made pursuant to Section 4.1(a)(iv) below until all CPECS have been fully redeemed by the
Company; and 
  
 (iv) Fourth, to the
Shareholders, as a dividend on outstanding Shares (it being understood that each Distribution made pursuant to this Section 4.1(a)(iv) shall be made pro rata among the Shareholders based on the number of outstanding Shares held by each
such Shareholder as of immediately prior to such Distribution). 
  
 (b) Quarterly Tax Distributions. So long as the Company is treated as a partnership for U.S. federal and state income tax purposes, the Company shall make a Distribution of cash in accordance with Section 4.1(a) within 15
days after the end of each Company Quarter, to the extent that funds are legally available therefor, in an aggregate amount which in the good faith judgment of the Board equals the product of (x) the aggregate amount of taxable income allocable
to PEC Holders, CPEC Holders and Shareholders in respect of such Company Quarter, multiplied by (y) the combined maximum U.S. federal, state, and local income tax rate to be applied with respect to such taxable income (calculated by using the
highest maximum combined marginal U.S. federal, state, and local income tax rates to which any PEC Holder, CPEC Holder or Shareholder may be subject and taking into account the deductibility of state income tax for federal income tax purposes) for
such period (a “Tax Distribution”). All Tax Distributions made to any PEC Holder, CPEC Holder or Shareholder shall be treated for all purposes hereunder (including for purposes of Sections 4.1(a) and 4.1(c)) as an
advance payment of Distributions otherwise payable pursuant to this Section 4.1. 
  
 (c) Quarterly Distributions of Excess Operating Cash Flow. Except as otherwise determined by the Board, the Company shall make a Distribution of cash in accordance with Section 4.1(a) within 45 days
after the end of each Company Quarter, to the extent that funds are legally available therefor, in an aggregate amount equal to the Excess Operating Cash Flow of the Company and its Subsidiaries for such Company Quarter. 
  
 (d) Deemed Distributions. Notwithstanding any other provision herein
to the contrary, if the Company or any of its Subsidiaries is required by law to make any payment that is specifically attributable to a PEC Holder, CPEC Holder and/or Shareholder or any PEC Holder’s, CPEC Holder’s and/or
Shareholder’s status as such (including any Taxes), then such Person shall be deemed for all purposes hereunder (including for purposes of Sections 4.1(a), 4.1(b) and 4.1(c)) to have received an advanced payment of
Distributions otherwise payable pursuant to this Section 4.1 in an amount equal to such payment. 
  
 (e) Distributions upon Sale of the Company. In the event of a Sale of the Company, each PEC Holder, CPEC Holder and Shareholder shall receive in
exchange for the PECS, CPECS and Shares sold by such Person the same portion of the aggregate consideration from such Sale of the Company that such Person would have received in respect of such PECS, CPECS and Shares (less such reserve as the Board
deems appropriate for taxes and/or the satisfaction of obligations) if such aggregate consideration had been distributed by the Company in accordance with the provisions of Section 4.1(a) (assuming, for purposes of such deemed
calculation, that the only PECS, CPECS and Shares outstanding are those sold in such Sale of the Company). Each PEC Holder, CPEC Holder and Shareholder shall take all actions requested by the Company or any other PEC Holder, CPEC Holder or
Shareholder to give effect to the terms of this Section 4.1(e) in connection with a Sale of the Company. 
  

 - 18 - 

 (f) Persons Receiving Distributions. Each Distribution in respect of any PEC, CPEC or Share shall
be made to the Person shown on the Company’s books and records as the holder of such PEC, CPEC or Share as of the record date declared by the Board for such Distribution (or, if no record date was so declared, as of the date of such
Distribution). 
  
 (g) Deferred Distributions.
Notwithstanding anything herein to the contrary, Distributions (or portions thereof) otherwise required by the JV Agreement but prohibited by applicable law or any agreement between the Company and any of its lenders shall be made by the Company as
soon as permitted under applicable law and such agreement and, in the meantime, shall not affect the Company’s right or obligation to make any other Distribution (or portion thereof) that is not prohibited by applicable law or any such
agreement. 
  
 4.2 Allocations. Except as otherwise
provided in Section 4.3, Profits and Losses for any Company Year shall be allocated among the PEC Holders, CPEC Holders and Shareholders in such a manner that, as of the end of such Company Year, the sum of (i) the Capital Account
of each PEC Holder, CPEC Holder and Shareholder, (ii) the share of Minimum Gain (as determined according to Treasury Regulation Section 1.704-2(g)) of each PEC Holder, CPEC Holder and Shareholder, and (iii) the partner nonrecourse
debt minimum gain (as defined in Treasury Regulation Section 1.704-2(i)(2)) of each PEC Holder, CPEC Holder and Shareholder, shall be equal to the respective net amounts, positive or negative, that would be distributed to them, determined as if
the Company were to (y) liquidate the assets of the Company for an amount equal to their Book Value, and (z) distribute the proceeds of liquidation pursuant to Section 4.1(a) of this Agreement. 
  
 4.3 Special Allocations. 
  
 (a) Losses attributable to partner nonrecourse debt (as defined in Treasury
Regulation Section 1.704-2(b)(4)) shall be allocated in the manner required by Treasury Regulation Section 1.704-2(i). If there is a net decrease during a Company Year in partner nonrecourse debt minimum gain (as defined in Treasury
Regulation Section 1.704-2(i)(3)), Profits for such Company Year (and, if necessary, for subsequent Company Years) shall be allocated to the PEC Holders, CPEC Holders and Shareholders in the amounts and of such character as determined according
to, and subject to the exceptions contained in, Treasury Regulation Section 1.704-2(i)(4). 
  
 (b) If there is a net decrease in Minimum Gain during any Company Year, each PEC Holder, CPEC Holder and Shareholder shall be allocated Profits for such
Company Year (and, if necessary, for subsequent Company Years) in the amounts and of such character as determined according to, and subject to the exceptions contained in, Treasury Regulation Section 1.704-2(f). This Section 4.3(b)
is intended to be a minimum gain chargeback provision that complies with the requirements of Treasury Regulation Section 1.704-2(f), and shall be interpreted in a manner consistent therewith. 
  
 (c) If any PEC Holder, CPEC Holder or Shareholder that unexpectedly receives
an adjustment, allocation, or distribution described in Treasury Regulation Section 1.704-1(b)(2)(ii)(d)(5) and (6) has an Adjusted Capital Account Deficit as of the end of any Taxable Year, computed after the application of Sections
4.3(c) and 4.3(d) but before the application of any other provision of this ARTICLE IV, then Profits for such Taxable Year shall be allocated to such PEC Holder, CPEC Holder or Shareholder in proportion to, and to the extent of,
such Adjusted Capital Account Deficit. This Section 4.3(c) is intended to be a qualified income offset provision as described in Treasury Regulation Section 1.704-1(b)(2)(ii)(d) and shall be interpreted in a manner consistent
therewith. 
  

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 (d) Profits and Losses shall be allocated in a manner consistent with the manner that the adjustments to
the Capital Accounts are required to be made pursuant to Treasury Regulation Section 1.704-1(b)(2)(iv)(j), (k), and (m). 
  
 (e) The allocations set forth in Sections 4.3(a)-4.3(d) (the “Regulatory Allocations”) are intended to comply with certain
requirements of Sections 1.704-1(b) and 1.704-2 of the Treasury Regulations. The Regulatory Allocations may not be consistent with the manner in which the PEC Holders, CPEC Holders and Shareholders intend to allocate Profit and Loss of the Company
or make Distributions. Accordingly, notwithstanding the other provisions of this ARTICLE IV, but subject to the Regulatory Allocations, income, gain, deduction, and loss shall be reallocated among the PEC Holders, CPEC Holders and
Shareholders so as to eliminate the effect of the Regulatory Allocations and thereby cause the respective Capital Accounts of the PEC Holders, CPEC Holders and Shareholders to be in the amounts (or as close thereto as possible) they would have been
if Profit and Loss (and such other items of income, gain, deduction, and loss) had been allocated without reference to the Regulatory Allocations. In general, the PEC Holders, CPEC Holders and Shareholders anticipate that this will be accomplished
by specially allocating other Profit and Loss (and such other items of income, gain, deduction, and loss) among the PEC Holders, CPEC Holders and Shareholders so that the net amount of the Regulatory Allocations and such special allocations to each
such Person is zero. 
  
 (f) If, and to the extent that, any PEC
Holder, CPEC Holder or Shareholder is deemed to recognize any item of income, gain, loss, deduction or credit as a result of any transaction between such PEC Holder, CPEC Holder or Shareholder and the Company pursuant to Tax Code Sections 1272-1274,
7872, 483, 482, 83 or any similar provision now or hereafter in effect, and the Board determines that any corresponding Profit or Loss of the Company should be allocated to the PEC Holder, CPEC Holder or Shareholder who recognized such item in order
to reflect the economic interests of such Person in the Company, then the Company may so allocate such Profit or Loss. 
  
 4.4 Tax Allocations. 
  
 (a) The income, gains, losses, deductions and credits of the Company will be allocated, for U.S. federal, state and local income tax purposes, among the
PEC Holders, CPEC Holders and Shareholders in accordance with the allocation of such income, gains, losses, deductions and credits among the PEC Holders, CPEC Holders and Shareholders for computing their Capital Accounts; except that, if any such
allocation is not permitted by the Tax Code or other applicable law, then the Company’s subsequent income, gains, losses, deductions, and credits will be allocated among the PEC Holders, CPEC Holders and Shareholders so as to reflect as nearly
as possible the allocation set forth herein in computing their Capital Accounts. 
  
 (b) Items of Company taxable income, gain, loss, and deduction with respect to any property contributed to the capital of the Company shall be allocated among the PEC Holders, CPEC Holders and Shareholders in
accordance with Tax Code Section 704(c) so as to take account of any variation between the adjusted basis of such property to the Company for U.S. federal income tax purposes and its Book Value using the remedial method allowed under Treasury
Regulation Section 1.704-3(d). 
  
 (c) If the Book Value of
any Company asset is adjusted pursuant to the requirements of Treasury Regulation Section 1.704-1(b)(2)(iv)(e) or (f), subsequent allocations of items of taxable income, gain, loss, and deduction with respect to such asset shall take account of
any variation between the adjusted basis of such asset for federal income tax purposes and its Book Value in the same manner as under Tax Code Section 704(c). 
  

 - 20 - 

 (d) Allocations of tax credits, tax credit recapture, and any items related thereto shall be allocated to
the PEC Holders, CPEC Holders and Shareholders according to their interests in such items as determined by the Board taking into account the principles of Treasury Regulation Section 1.704-1(b)(4)(ii). 
  
 (e) Allocations pursuant to this Section 4.4 are solely for
purposes of U.S. federal, state, and local taxes and shall not affect, or in any way be taken into account in computing, any Capital Account or share of Profits, Losses, Distributions or other Company items pursuant to any provision of this
Agreement. 
  
 4.5 Transfer of Capital Accounts. If
a PEC Holder, CPEC Holder or Shareholder Transfers an interest in the Company in accordance with the Articles and Article 8 of this Agreement to a new or existing PEC Holder, CPEC Holder or Shareholder, the Transferee shall succeed to that
portion of the Transferor’s Capital Account that is attributable to the Transferred interest. Any reference in this Agreement to a Capital Contribution of, or Distribution to, a PEC Holder, CPEC Holder or Shareholder that has succeeded any
other PEC Holder, CPEC Holder or Shareholder shall include any Capital Contributions or Distributions previously made by or to the former PEC Holder, CPEC Holder or Shareholder on account of the interest of such former PEC Holder, CPEC Holder or
Shareholder Transferred to such new or existing PEC Holder, CPEC Holder or Shareholder. 
  
 ARTICLE V — GENERAL RIGHTS AND OBLIGATIONS OF SHAREHOLDERS 
  
 5.1 Shareholders Right to Act. For situations which the approval of any Shareholders or class thereof (rather than the approval of the Board
on behalf of the Shareholders) is required, the Shareholders shall act through meetings and written consents as described in the Articles. 
  
 5.2 Conflicts of Interest. A Shareholder, its Affiliates and each of their respective stockholders, directors, managers, officers,
controlling persons, partners and employees (collectively, the “Shareholder Group”) may have business interests and engage in business activities in addition to those relating to the Company and its Subsidiaries, except as any such
Person may have otherwise agreed with the Company or any of its Subsidiaries in writing. Neither the Company nor any Shareholder shall have any rights by virtue of this Agreement in any business ventures of any such Person. 
  
 5.3 Transactions between the Company and the Shareholders.
Notwithstanding that it may constitute a conflict of interest, the Shareholders or their Affiliates may engage in any transaction (including the purchase, sale, lease or exchange of any property or rendering of any service or the establishment of
any salary, other compensation or other terms of employment) with the Company so long as such transaction is approved by the Board in accordance with the Articles. 
  
 ARTICLE VI — BOOKS, RECORDS, ACCOUNTING AND REPORTS 
  
 6.1 Records and Accounting. The Company and its Subsidiaries shall keep, or cause to be kept, appropriate
books and records with respect to the Company and its Subsidaries’ businesses, including but not limited to all books and records necessary to provide any information, lists, and copies of documents required to perform its obligations under
this Agreement or to be provided pursuant to this Agreement, applicable laws or the request of any Manager, Shareholder, PEC Holder or CPEC Holder. The Company and its Subsidiaries shall timely provide to the Board and to each Manager, PEC Holder,
CPEC Holder and Shareholder special and regular periodic financial, management and tax 

  

 - 21 - 

 
information, reports and packages, including copies of documents, as set forth in the Contribution Agreement or as the Board or each Manager or Shareholder
may from time to time request. The regular information, reports and packages shall include the information, reports and packages that AMF provided to its corporate parent, AMF Bowling Worldwide, Inc., prior to the execution of this Agreement. The
Officers shall answer all questions and inquiries of each Manager and Shareholder regarding the business and affairs of the Company and its Subsidiaries and any information, reports or packages provided. Except as otherwise required by the Code, all
matters concerning the determination of the relative amount of allocations and Distributions among the PEC Holders, CPEC Holders and Shareholders pursuant to the Articles, ARTICLE III and ARTICLE IV shall be determined by the
Board. All matters concerning accounting procedures and determinations, and other determinations not specifically and expressly provided for by the terms of this Agreement, shall be determined by the Board, whose determination shall be final and
conclusive as to all of the PEC Holders, CPEC Holders and Shareholders absent manifest clerical error. 
  
 6.2 Tax Information. 
  
 (a) The Company shall use reasonable best efforts to deliver or cause to be delivered, within 90 days after the end of each Company Year, to each Person
who was a PEC Holder, CPEC Holder or Shareholder at any time during such Company Year all information necessary for the preparation of such Person’s tax returns, including IRS Form K-1 (and any corresponding form under U.S. state or local law).
The Company and its Subsidiaries shall timely deliver or cause to be delivered to each PEC Holder, CPEC Holder and Shareholder all information and copies of documents, in such form and detail as such PEC Holder, CPEC Holder or Shareholder may
request, necessary for or convenient for the preparation of such Person’s tax returns. Copies of all income tax returns filed on behalf of the Company and its Subsidiaries will be provided to each PEC Holder, CPEC Holder and Shareholder not
later than 30 days after filing with the applicable Governmental Entity. Copies of tax returns that are not income tax reports filed on behalf of the Company or any of its Subsidiaries will be provided to each PEC Holder, CPEC Holder or Shareholder
upon request within a reasonable time, but not later than 30 days after any such request. Except as expressly set forth herein, the Company shall not be responsible for preparing or filing any tax returns or other tax filings that are the
responsibility of a PEC Holder, CPEC Holder or Shareholder under applicable laws and regulations. 
  
 (b) The Company shall assist each of AMF and Qubica in retaining a single qualified tax professional selected by AMF, and shall reimburse each of AMF and
Qubica for the cost of such tax professional, to prepare and file each of AMF’s and Qubica’s United States federal and state income tax returns to the extent related to their respective ownership of PECS, CPECS and/or Shares. 

 
 6.3 Company Funds. None of the Managers or Officers may
commingle the Company’s funds with the funds of any PEC Holder, CPEC Holder, Shareholder, Manager or Officer. 
  
 ARTICLE VII — TAXES 
  
 7.1 Tax Returns. The Company shall prepare and file, or cause to be prepared and filed, all necessary tax returns of the Company and its Subsidiaries, including making the elections described in
Section 7.2, in a timely and proper manner in accordance with applicable laws and regulations. Each PEC Holder, CPEC Holder and Shareholder shall furnish to the Company all pertinent information in its possession relating to the
operations of the Company or any of its Subsidiaries that is necessary to enable the tax returns of the Company and its Subsidiaries to be prepared and filed. 
  

 - 22 - 

 7.2 Tax Elections. Except as otherwise set forth in this Agreement (including
Section 2.8 hereof), the Company shall make any material nonrecurring election the Board may deem appropriate and in the best interests of the PEC Holders, CPEC Holders and Shareholders. The appropriate Company personnel responsible for
tax compliance matters shall keep the Board reasonably informed as to any other tax elections made by the Company. 
  
 7.3 Tax Matters Partner. 
  
 (a) AMF (or an Affiliate so designated by AMF) shall be the “tax matters partner” of the Company pursuant to Section 6231(a)(7) of the Tax
Code (the “Tax Matters Partner”). 
  
 (b) The Tax
Matters Partner shall inform the Board and each other PEC Holder, CPEC Holder and Shareholder of all significant matters that may come to its attention in its capacity as Tax Matters Partner by giving notice thereof on or before the fifth business
day after becoming aware thereof and, within that time, shall forward to the Board and each other PEC Holder, CPEC Holder and Shareholder copies of all significant written communications he may receive in that capacity. 
  
 (c) The Tax Matters Partner is authorized to represent the Company before the
Internal Revenue Service and any other Governmental Entity with jurisdiction, and to sign such consents and to enter into settlements and other agreements with such agencies as the Board deems necessary or advisable. Each PEC Holder, CPEC Holder and
Shareholder agrees to cooperate with the Company and to do or refrain from doing any or all things reasonably requested by the Company or the Tax Matters Partner with respect to the conduct of such proceedings. The Tax Matters Partner may not take
any action contemplated by Sections 6222 through 6232 of the Tax Code without the consent of the Board, but this sentence does not authorize the Tax Matters Partner (or any Manager) to take any action left to the determination of an individual PEC
Holder, CPEC Holder or Shareholder under Sections 6222 through 6232 of the Tax Code. 
  
 (d) Promptly following the written request of the Tax Matters Partner, the Company shall, to the fullest extent permitted by law, reimburse and indemnify the Tax Matters Partner for all reasonable expenses, including
reasonable legal and accounting fees, claims, liabilities, losses and damages incurred by the Tax Matters Partner in connection with any administrative or judicial proceeding (i) with respect to the tax liability of the Company and/or
(ii) with respect to the tax liability of the Shareholders in connection with the operations of the Company. 
  
 (e) The provisions of this Section 7.3 shall survive the termination of the Company or the termination of any Shareholder’s interest in
the Company and shall remain binding on the Shareholders for as long a period of time as is necessary to resolve with the Internal Revenue Service any and all matters regarding the Federal income taxation of the Company or the Shareholders.

  
 ARTICLE VIII — TRANSFER OF COMPANY INTERESTS

  
 8.1 Transfers of PECS, CPECS and Shares.

  
 (a) Subject to Section 8.1(d), PECS are freely
transferable among PEC Holders, CPECS are freely transferable among CPEC Holders and Shares are freely transferable among Shareholders. 
  

 - 23 - 

 (b) Except as otherwise contemplated by this Agreement, no PEC Holder will Transfer any PEC to any
non-PEC Holder and no CPEC Holder will Transfer any CPEC to a non-CPEC Holder, without the prior written consent of the Board. 
  
 (c) Except as otherwise required by the Code and as otherwise contemplated by this Agreement, no Shareholder will Transfer any Shares to any
non-Shareholder unless in accordance with the Articles and, then, only upon the prior written consent of the Board. 
  
 (d) Each proposed transferee of PECS, CPECS and/or Shares who is not already a party to this Agreement shall, as a condition precedent to such Transfer,
execute a counterpart to this Agreement pursuant to which such transferee shall agree to be bound by the provisions of this Agreement. 
  
 8.2 Effect of Assignment. Any PEC Holder, CPEC Holder or Shareholder who shall assign any PECS, CPECS or Shares shall cease to be a PEC
Holder, CPEC Holder or Shareholder of the Company with respect to such PECS, CPECS or Shares and shall no longer have any rights or privileges of a PEC Holder, CPEC Holder or Shareholder with respect to such PECS, CPECS or Shares. 
  
 8.3 Prohibition on Transfer. In order to permit the Company to
qualify for the benefit of a “safe harbor” under Tax Code Section 7704, notwithstanding anything to the contrary in this Agreement, no Transfer of any PEC, CPEC or Share, or economic interest therein, shall be permitted or recognized
by the Company or the Board (within the meaning of Treasury Regulation Section 1.7704-1(d)) if and to the extent that such Transfer would cause the Company to have more than 100 partners (within the meaning of Treasury Regulation
Section 1.7704-1(h), including the look-through rule in Treasury Regulation Section 1.7704-1(h)(3). 
  
 8.4 Transfer Fees and Expenses. The transferor and transferee of any PECS, CPECS and/or Shares shall be jointly and severally obligated to
reimburse the Company for all reasonable expenses (including attorneys’ fees and expenses) of any Transfer or proposed Transfer, whether or not consummated. 
  
 8.5 Void Transfers. Any Transfer by any PEC Holder, CPEC Holder or Shareholder of any PECS, CPECS or Shares in
contravention of the Code, the Articles or this Agreement (including, without limitation, the failure of the transferee to execute a counterpart if required by Section 8.1(d)) or which would cause the Company to not be treated as a
partnership for U.S. federal income tax purposes shall be void and ineffectual and shall not bind or be recognized by the Company or any other party. No purported assignee shall have any right to any profits, losses or Distributions of the Company.

  
 ARTICLE IX — WITHDRAWAL AND RESIGNATION OF SHAREHOLDERS

  
 9.1 Withdrawal and Resignation of
Shareholders. No Shareholder shall have the power or right to withdraw or otherwise resign or be expelled from the Company prior to the dissolution and winding up of the Company pursuant to the Articles, except as otherwise expressly
permitted by this Agreement or any of the other agreements contemplated hereby. Notwithstanding that payment on account of a withdrawal may be made after the effective time of such withdrawal, any completely withdrawing Shareholder will not be
considered a Shareholder for any purpose after the effective time of such complete withdrawal, and, in the case of a partial withdrawal, such Shareholder’s Capital Account (and corresponding voting and other rights) shall be reduced for all
other purposes hereunder upon the effective time of such partial withdrawal. 
  

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 9.2 Withdrawal of a Shareholder. No Shareholder shall have the power or right to withdraw
or otherwise resign from the Company, except simultaneous with the Transfer of all of a Shareholder’s Shares in a Transfer permitted by this Agreement. 
  
 ARTICLE X — LIQUIDITY PROVISIONS 
  
 10.1 Put Offer. 
  
 (a) Subject to Section 2.12(b), at any time after the third anniversary of the Effective Date, each of AMF and Qubica (as applicable, the
“Selling Shareholder”) shall have the right to offer to the other (the “Remaining Shareholder”) all of the PECS, CPECS and Shares then held by the Selling Shareholder for an aggregate cash purchase price equal to
the Put Offer Price (the “Put Offer”), by delivering a written notice to the Remaining Shareholder and the Company specifying the number of PECS, CPECS and Shares being offered and the Selling Shareholder’s calculation of the
Put Offer Price (the “Put Offer Notice”). 
  
 (b)
The Remaining Shareholder shall be under no obligation to accept the Put Offer or purchase the PECS, CPECS or Shares of the Selling Shareholder. However, if the Remaining Shareholder does elect to accept the Put Offer by delivering a written notice
of acceptance to the Selling Shareholder within thirty (30) days after receipt of the Put Offer Notice, the Remaining Shareholder shall purchase, and the Selling Shareholder shall sell, all of the Selling Shareholder’s Shares (as specified
in the Put Offer Notice) for the Put Offer Price at a mutually agreeable time and place (the “Put Closing”). 
  
 (c) At the Put Closing, the Selling Shareholder shall deliver to the Remaining Shareholder certificates representing the PECS, CPECS and Shares to be
purchased by the Remaining Shareholder, if any such certificates have been issued, free and clear of all Liens and accompanied by duly executed Transfer agreements, and the Remaining Shareholder shall deliver to the Selling Shareholder the Put Offer
Price by cashier’s or certified check payable to the Selling Shareholder or by wire transfer of immediately available funds to an account designated by the Selling Shareholder. 
  
 10.2 Liquidity Request. 
  
 (a) At any time after a Put Offer Notice is delivered pursuant to Section 10.1(a), but not accepted by the
Remaining Shareholder within the prescribed time period, the Selling Shareholder shall be entitled to deliver a written notice to the Company and the Remaining Shareholder requesting liquidity for its investment in the Company (a “Liquidity
Request”). In addition, each of AMF and Qubica shall be entitled to deliver a Liquidity Request at any time after the fourth anniversary of the Effective Date without first needing to deliver a Put Offer Notice pursuant to
Section 10.1(a). 
  
 (b) Upon delivery of a Liquidity
Request, the Board shall promptly, but in any event within thirty (30) days, retain a Global Coordinator and solicit from the Global Coordinator specific analyses with respect to the various liquidity event alternatives available to the Company
and its PEC Holders, CPEC Holders and Shareholders (including, without limitation, an initial Public Offering of the Company and a Sale of the Company), which analyses shall include, without limitation, the advantages, disadvantages, timing and
valuations relating to each such alternative. The Board shall also instruct the Global Coordinator to make a final recommendation within ninety (90) days of its retention as to the specific liquidity alternative that should be pursued by the
Company and the PEC Holders, CPEC Holders and Shareholders to achieve liquidity for the PEC Holders, CPEC Holders and Shareholders within six (6) months thereafter at the maximum value achievable given then prevailing market conditions. Once
such 

  

 - 25 - 

 
recommendation is made, the Company and each PEC Holder, CPEC Holder and Shareholder agree to promptly implement the liquidity alternative so recommended,
including, without limitation, taking all actions necessary or desirable in connection therewith and executing and delivering definitive agreements, documents or instruments with respect thereto, unless a majority of the AMF Managers and a majority
of the Qubica Managers otherwise agree to abandon or modify such recommendation. The fees and expenses of the Global Coordinator shall be borne by the Company. 
  

(c) In the event that the Global Coordinator recommends a Sale of the Company, the Company and each PEC Holder, CPEC Holder and Shareholder shall
cooperate in such sale process and shall give customary, representations, warranties, covenants and indemnities in connection with such sale transaction and take all actions necessary or desirable in connection with such sale transaction, including,
without limitation, executing and delivering definitive agreements, documents or instruments with respect thereto. The Global Coordinator shall serve as the Company’s financial advisor for such sale transaction unless the Board determines
otherwise in its sole discretion. 
  
 10.3 Deadlock
Offer. 
  
 (a) In the event that, at any time after the
six-month anniversary of the Effective Date, (i) a Fundamental Change is proposed by AMF, a majority of the AMF Managers or a majority of the AMF Sub Directors of any particular Subsidiary of the Company, as applicable, and such Fundamental
Change is not approved by the Board or the board of directors or managers (or equivalent governing body) of such Subsidiary, as applicable, or (ii) a Fundamental Change is proposed by Qubica, a majority of the Qubica Managers or a majority of
the Qubica Sub Directors of any particular Subsidiary of the Company, as applicable, and such Fundamental Change is not approved by the Board or the board of directors or managers (or equivalent governing body) of such Subsidiary (in any such case
under clause (i) or (ii), a “Deadlock”), and such Deadlock is not resolved (x) within six (6) months if the Deadlock initially occurs on or prior to the first anniversary of the Effective Date, (y) prior to the
18-month anniversary of the Effective Date if the Deadlock initially occurs after the first anniversary of the Effective Date and on or prior to the 18-month anniversary of the Effective Date or (z) within 30 days if the Deadlock occurs after
the 18-month anniversary of the Effective Date, then each of AMF and Qubica shall be entitled to offer to the other all of the PECS, CPECS and Shares then held by the Selling Shareholder for the Deadlock Offer Price (the “Deadlock
Offer”), by delivering a written notice to the Remaining Shareholder and the Company specifying the Selling Shareholder’s calculation of the Deadlock Offer Price (the “Deadlock Offer Notice”). 
  
 (b) The Remaining Shareholder shall be under no obligation to accept the
Deadlock Offer or purchase the PECS, CPECS or Shares of the Selling Shareholder. However, if the Remaining Shareholder does elect to accept the Deadlock Offer by delivering a written notice of acceptance to the Selling Shareholder within thirty
(30) days after receipt of the Deadlock Offer Notice, the Remaining Shareholder shall purchase, and the Selling Shareholder shall sell, all of the Selling Shareholder’s Shares (as specified in the Deadlock Offer Notice) for the Deadlock
Offer Price at a mutually agreeable time and place (the “Deadlock Closing”). 
  
 (c) At the Deadlock Closing, the Selling Shareholder shall deliver to the Remaining Shareholder certificates representing the PECS, CPECS and Shares to be purchased by the Remaining Shareholder, if any such
certificates have been issued, free and clear of all Liens and accompanied by duly executed Transfer agreements, and the Remaining Shareholder shall deliver to the Selling Shareholder the Deadlock Offer Price by cashier’s or certified check
payable to the Selling Shareholder or by wire transfer of immediately available funds to an account designated by the Selling Shareholder. 
  

 - 26 - 

 (d) Notwithstanding anything in this Section 10.3 to the contrary, the Selling Shareholder
and the Remaining Shareholder shall not consummate the offer and sale of Shares contemplated by this Section 10.3 if the Board resolves the Deadlock at any time prior to the Deadlock Closing. 
  
 10.4 Sale to a Competitor. 
  
 (a) If any of the Persons set forth on the Major Competitor Schedule
attached hereto as Schedule D acquires (whether by merger, liquidation, consolidation, reorganization, combination or transfer) more than 50% of the outstanding equity interests of AMF or of any Person who then owns, directly or indirectly,
all of the outstanding equity interests of AMF (a “Sale to a Competitor”), then, unless Qubica consents in writing to such Sale to a Competitor, Qubica shall be entitled at all times thereafter to designate all but one of the AMF
Managers and all but one of the AMF Sub Directors for each Subsidiary of the Company; it being understood and agreed that AMF shall retain the right to designate one AMF Manager and one AMF Sub Director for each Subsidiary of the Company.

  
 (b) In the event of a Sale to a Competitor, AMF shall, unless
Qubica consents in writing to such Sale to a Competitor, transfer immediately prior to the consummation of such Sale to a Competitor that number of Shares equal to (i) 75.1% of all of the Shares then outstanding, minus (ii) the aggregate
number of Shares held by or on behalf of Qubica at the time of such transfer, to a bank, who shall not have any material relationship with the Company, AMF or Qubica and who shall be selected by Qubica, pursuant to a fiduciary agreement under which
(x) the beneficial ownership of such Shares so transferred (including, without limitation, AMF’s interest in Profits, Losses and Distributions of the Company) shall remain for the benefit of AMF and (y) the voting power over such
Shares shall be vested in Qubica. 
  
 (c) In the event that, at
any time after a Sale to a Competitor to which Qubica did not consent in writing, the Board approves a Sale of the Company (an “Approved Sale”), AMF shall vote for, consent to and raise no objections against such Approved Sale. If
the Approved Sale is structured as (i) a merger or consolidation, AMF shall waive any dissenters’ rights, appraisal rights or similar rights in connection with such merger or consolidation or (ii) sale of Shares, AMF shall agree to
sell all of its Shares or rights to acquire Shares on the terms and conditions approved by the Board and the holders of the Required Interest. AMF shall take all necessary or desirable actions in connection with the consummation of such Approved
Sale as requested by the Board. 
  
 (d) In the event of an
Approved Sale, AMF shall receive in respect of the PECS, CPECS and Shares then held by AMF the same portion of the aggregate consideration from such Approved Sale that AMF would have received if such aggregate consideration had been distributed by
the Company pursuant to Section 4.1(e) above. 
  
 (e)
Notwithstanding any implication herein to the contrary, neither Qubica nor the Company shall take any action (including, without limitation, amending the Articles, this Agreement or any of the other Transactions Documents in a manner) which would
disproportionately and adversely affect the economic rights of AMF hereunder as a holder of PECS, CPECS and/or Shares. 
  
 ARTICLE XI — VALUATION 
  
 11.1 Determination. Subject to Section 11.2, the Fair Market Value of the assets of the Company or of a Company Interest will be
determined by the Board (or, if pursuant to the Articles, 

  

 - 27 - 

 
the liquidators) in its good faith judgment in such manner as it deems reasonable and using all factors, information and data deemed to be pertinent;
provided, however, if the Board is unable to reach agreement within a reasonable period of time, the Board shall select and retain an independent appraiser experienced in valuing securities to make such determination, which
determination shall be final and binding upon the parties hereto. 
  
 11.2 Fair Market Value. “Fair Market Value” of (i) a specific Company asset will mean the amount that the Company would receive in an all-cash sale of such asset (free and clear of all Liens and after
payment of all liabilities secured only by such asset) in an arms-length transaction with an unaffiliated third party consummated on the day immediately preceding the date on which the event occurred that necessitated the determination of the Fair
Market Value (and after giving effect to any transfer taxes payable in connection with such sale); and (ii) the Company will mean the amount that the Company would receive in an all-cash sale of all of its assets and businesses as a going
concern (free and clear of all Liens and after payment of indebtedness for borrowed money) in an arms-length transaction with an unaffiliated third party consummated on the day immediately preceding the date on which the event occurred which
necessitated the determination of the Fair Market Value (assuming that all of the proceeds from such sale were paid directly to the Company other than an amount of such proceeds necessary to pay transfer taxes payable in connection with such sale,
which amount will not be received or deemed received by the Company). After a determination of the Fair Market Value of the Company is made as provided above, the Fair Market Value of a PEC, CPEC or Share will be determined by making a calculation
reflecting the cash Distributions that would be made to the PEC Holders, CPEC Holders and Shareholders in accordance with this Agreement in respect of such PEC, CPEC or Share if the Company were deemed to have received such Fair Market Value in cash
and then distributed the same to the PEC Holders, CPEC Holders and Shareholders in accordance with the terms of this Agreement incident to the liquidation of the Company after payment to all of the Company’s creditors from such cash receipts
other than payments to creditors who hold evidence of indebtedness for borrowed money, the payment of which is already reflected in the calculation of the Fair Market Value of the Company and assuming that all of the convertible debt and other
convertible securities were repaid or converted (whichever yields more cash to the holders of such convertible securities) and all options to acquire Shares (whether or not currently exercisable) that have an exercise price below the Fair Market
Value of such Shares were exercised and the exercise price therefor paid. Except as otherwise provided herein, in any Transaction Document or in any agreement, document or instrument contemplated hereby, any amount to be paid under this Agreement by
reference to the Fair Market Value shall be paid in full in cash, and any PEC, CPEC or Share being transferred in exchange therefor will be transferred free and clear of all Liens. 
  
 ARTICLE XII — GENERAL PROVISIONS 
  
 12.1 Power of Attorney. 
  
 (a) Each PEC Holder, CPEC Holder and Shareholder hereby constitutes and appoints each member of the Board, with full power
of substitution, as his true and lawful agent and attorney-in-fact, with full power and authority in his or its name, place and stead, to execute, swear to, acknowledge, deliver, file, and record in the appropriate public offices: (i) this
Agreement, all certificates, and other instruments and all amendments (in the manner set forth herein) thereof in accordance with the terms hereof which the Board deems appropriate or necessary to form, qualify, or continue the qualification of, the
Company as a SARL in the country of Luxembourg and in all other jurisdictions in which the Company may conduct business or own property; (ii) all instruments that the Board deems appropriate or necessary to reflect any amendment, change,
modification, or restatement of this Agreement in accordance with its terms, or to otherwise carry out the terms of this Agreement; (iii) all 

  

 - 28 - 

 
conveyances and other instruments or documents which the Board deems appropriate or necessary to reflect the dissolution and liquidation of the Company
pursuant to the terms of the Articles and this Agreement, including a certificate of cancellation; and (iv) all instruments relating to the admission, withdrawal or substitution of any PEC Holder, CPEC Holder or Shareholder pursuant to
ARTICLE VIII or ARTICLE IX. 
  
 (b) The foregoing
power of attorney is irrevocable and coupled with an interest, and shall survive the death, disability, incapacity, dissolution, bankruptcy, insolvency, or termination of any PEC Holder, CPEC Holder or Shareholder and the Transfer of all or any
portion of his or its Company Interest and shall extend to such Person’s heirs, successors, assigns, and personal representatives. 
  
 12.2 Amendments. This Agreement may be amended from time to time by a written instrument by the holders of the Required Interest;
provided that no amendment or modification pursuant to this Section 12.2 that would adversely affect any class or group of PEC Holders, CPEC Holders or Shareholders in a manner different than any other class or group of PEC
Holders, CPEC Holders or Shareholders (other than to the extent of such Person’s relative ownership percentages) shall be effective against such class or group of PEC Holders, CPEC Holders or Shareholders without the prior written consent of
the holders of at least 75% percent of the PECS, CPECS or Shares then held by such class or group so adversely affected thereby; provided, further, that no amendment or modification pursuant to this Section 12.2 that would
affect the rights of a PEC Holder, CPEC Holder or Shareholder or group of PEC Holders, CPEC Holders or Shareholders specifically granted such rights by name shall be modified without the consent of such PEC Holder, CPEC Holder or Shareholder (or, in
the case of a group, the holders of at least 75% of the PECS, CPECS or Shares then held by such group of PEC Holders, CPEC Holders or Shareholders, as applicable). 
  
 12.3 Title to Company Assets. Company assets shall be deemed to be owned by the Company as an entity, and no
PEC Holder, CPEC Holder or Shareholder, individually or collectively, shall have any ownership interest in such Company assets or any portion thereof. Legal title to any or all Company assets may be held in the name of the Company or one or more
nominees, as the Board may determine. The Board hereby declares and warrants that any Company assets for which legal title is held in its name or the name of any nominee shall be held in trust by the Board or such nominee for the use and benefit of
the Company in accordance with the provisions of this Agreement. All Company assets shall be recorded as the property of the Company on its books and records, irrespective of the name in which legal title to such Company assets is held. 

 
 12.4 Remedies. The Company and each PEC Holder, CPEC Holder
and Shareholder shall have all rights and remedies set forth in this Agreement and all rights and remedies which such Person has been granted at any time under any other agreement or contract and all of the rights which such Person has under any
law. Any Person having any rights under any provision of this Agreement or any other agreements contemplated hereby shall be entitled to enforce such rights specifically (without posting a bond or other security), to recover damages by reason of any
breach of any provision of this Agreement and to exercise all other rights granted by law. 
  
 12.5 Successors and Assigns. All covenants and agreements contained in this Agreement shall bind and inure to the benefit of the parties hereto and their respective heirs, executors, administrators,
successors, legal representatives, and permitted assigns, whether so expressed or not. 
  
 12.6 Severability. Whenever possible, each provision of this Agreement will be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement is held
to be invalid, illegal, or unenforceable in any respect under any applicable law or rule 

  

 - 29 - 

 
in any jurisdiction, such invalidity, illegality, or unenforceability will not affect any other provision or the effectiveness or validity of any provision
in any other jurisdiction, and this Agreement will be reformed, construed, and enforced in such jurisdiction as if such invalid, illegal, or unenforceable provision had never been contained herein. 
  
 12.7 Public Offering. In the event the Board approves a public
offering of securities of the Company, the Board shall, in order to facilitate such public offering, or if the Board otherwise determines that it would be in the best interests of the Company, the Board may, cause the Company to incorporate its
business, or any portion thereof, including by (i) the transfer of all of the assets of the Company, subject to the Company’s liabilities, or the transfer of any portion of such assets and liabilities, to one or more corporations in
exchange for shares of such corporation(s) and the subsequent distribution of such shares, at such time as the Board may determine, to the PEC Holders, CPEC Holders and Shareholders on a pro rata basis in accordance with Section 4.1 of
this Agreement, (ii) conversion of the Company into a société anonyme or a société en commandite par actions as foreseen by the Code or (iii) Transfer by each PEC Holder, CPEC Holder and
Shareholder of the PECS, CPECS and Shares held by such Person to one or more corporations in exchange for shares of such corporation(s) (including by merger of the Company into a corporation) and, in connection therewith, each PEC Holder, CPEC
Holder and Shareholder agrees to the Transfer of its PECS, CPECS and Shares in accordance with the terms of exchange as provided by the Board and further agrees that as of the effective date of such exchange any PEC, CPEC or Share outstanding
thereafter which shall not have been tendered for exchange shall represent only the right to receive a certificate representing the number of shares of such corporation(s) as provided in the terms of such exchange. In connection with any such
reorganization or exchange as provided above, (x) each PEC Holder shall receive the same form of securities and the same amount of securities per PEC (other than as necessary to reflect different amounts of accrued yield thereon), and, if any
holder(s) of PECS are given an option as to the form and amount of securities to be received in respect of such Person’s PECS, each PEC Holder shall be given the same option, (y) each CPEC Holder shall receive the same form of securities
and the same amount of securities per CPEC, and, if any holder(s) of CPECS are given an option as to the form and amount of securities to be received in respect of such Person’s CPECS, each CPEC Holder shall be given the same option, and
(z) each Shareholder shall receive the same form of securities and the same amount of securities per Share, and, if any Shareholder(s) are given an option as to the form and amount of securities to be received in respect of such Person’s
Shares, each Shareholder shall be given the same option. The Company shall pay any and all organizational, legal and accounting expenses and filing fees incurred in connection with such incorporation transaction. 
  
 12.8 Notice of Provisions. By executing this Agreement, each
PEC Holder, CPEC Holder and Shareholder acknowledges that it has actual notice of all of the provisions hereof (including the restrictions on Transfer set forth herein). 
  
 12.9 Counterparts. This Agreement may be executed in multiple counterparts with the same effect as if all
signing parties had signed the same document. All counterparts shall be construed together and constitute the same instrument. 
  
 12.10 Descriptive Headings; Interpretation. The descriptive headings of this Agreement are inserted for convenience only and do not
constitute a substantive part of this Agreement. Whenever required by the context, any pronoun used in this Agreement shall include the corresponding masculine, feminine, or neuter forms, and the singular form of nouns, pronouns, and verbs shall
include the plural and vice versa. The use of the word “including” in this Agreement shall be by way of example rather than by limitation. Reference to any agreement, document, or instrument means such agreement, document, or instrument as
amended or otherwise modified from time to time in accordance with the 

  

 - 30 - 

 
terms thereof, and, if applicable, hereof. Without limiting the generality of the immediately preceding sentence, no amendment or other modification to any
agreement, document, or instrument that requires the consent of any Person pursuant to the terms of this Agreement or any other agreement will be given effect hereunder unless such Person has consented in writing to such amendment or modification.
Wherever required by the context, references to a Company Year shall refer to a portion thereof. The use of the words “or,” “either,” and “any” shall not be exclusive. The parties hereto have participated jointly in the
negotiation and drafting of this Agreement. In the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the parties hereto, and no presumption or burden of proof shall arise
favoring or disfavoring any party by virtue of the authorship of any of the provisions of this Agreement. Wherever a conflict exists between this Agreement and any other agreement, this Agreement shall control but solely to the extent of such
conflict. 
  
 12.11 Governing Law. This Agreement
and its execution, validity and interpretation shall be governed by and construed, in all respects, in accordance with the laws of Luxembourg, without giving effect to any choice or conflict of law provision or rule (whether of Luxembourg or any
other jurisdiction) that would cause the application of the laws of any jurisdiction other than Luxembourg. 
  
 12.12 Governing Language. This Agreement has been negotiated and executed by each of the parties hereto in English. In the event any
translation of this Agreement is prepared for convenience or any other purpose, the provisions of the English version shall prevail. 
  
 12.13 Arbitration. Any dispute, controversy or claim arising out of or relating to this Agreement shall be finally determined by arbitration
in accordance with the Rules of Arbitration of the International Chamber of Commerce (the “ICC”). The parties to such dispute, controversy or claim shall select one arbitrator, knowledgeable as to the laws of Luxembourg, appointed
in accordance with such Rules. The place of the arbitration shall be London, England. The language of the arbitration shall be English. The arbitrators shall have the authority to award all forms of relief determined to be just and equitable;
provided, however, that the arbitrators shall have no authority to award punitive or exemplary damages, or any other monetary damages not measured by the prevailing party’s actual damages. Any arbitral award rendered pursuant to
this provision shall be final and binding on the parties and may be enforced in any court of competent jurisdiction. Before any arbitration pursuant to this provision has been convened, either party may seek from any court of competent jurisdiction
interim or provisional relief. Such interim or provisional relief may subsequently be vacated, continued or modified by the arbitrator on the application of either party. 
  
 12.14 Addresses and Notices. All notices, demands, or other communications to be given or delivered under or
by reason of the provisions of this Agreement shall be in writing and shall be deemed to have been given or made when (a) delivered personally to the recipient, (b) telecopied to the recipient (with hard copy sent to the recipient by
reputable overnight courier service (charges prepaid) that same day) if telecopied before 5:00 p.m. local time for the receiving party on a business day, and otherwise on the next business day, or (c) one business day after being sent to the
recipient by reputable overnight courier service (charges prepaid). Such notices, demands, and other communications shall be sent to the address for such recipient set forth in the Company’s books and records, or to such other address or to the
attention of such other person as the recipient party has specified by prior written notice to the sending party. Any notice to the Board or the Company shall be deemed given if received by the Board at the principal office of the Company designated
pursuant to Section 2.6. 
  
 12.15
Creditors. None of the provisions of this Agreement shall be for the benefit of or enforceable by any creditors of the Company (other than any PEC Holder or CPEC Holder in its capacity as such) or any of their Affiliates, and no creditor
who makes a loan to the Company or any of its 

  

 - 31 - 

 
Affiliates (provided that, for purposes of this provision, no Capital Contribution in respect of a PEC or CPEC shall be considered a loan) may have or
acquire (except pursuant to the terms of a separate agreement executed by the Company in favor of such creditor) at any time as a result of making such loan any direct or indirect interest in Company Profits, Losses, Distributions, capital, or
property other than as a secured creditor. 
  
 12.16
Waiver. No failure by any party to insist upon the strict performance of any covenant, duty, agreement, or condition of this Agreement or to exercise any right or remedy consequent upon a breach thereof shall constitute a waiver of any
such breach or any other covenant, duty, agreement, or condition. 
  
 12.17 Further Action. Each party hereto shall execute and deliver all documents, provide all information, and take or refrain from taking such actions as may be necessary or appropriate to achieve the purposes of this
Agreement. 
  
 12.18 Offset. Whenever the Company is
to pay any sum to any PEC Holder, CPEC Holder or Shareholder, or any Affiliate or related person thereof, any amounts that such PEC Holder, CPEC Holder or Shareholder, or such Affiliate or related person, owes to the Company or any of its
Subsidiaries may be deducted from that sum before payment. 
  
 12.19 Reimbursement of Payments on Behalf of Shareholders. If the Company or any of its Subsidiaries is required by law to make any payment that is specifically attributable to a PEC Holder, CPEC Holder and/or Shareholder or
any PEC Holder’s, CPEC Holder’s and/or Shareholder’s status as such (including withholding taxes, personal property taxes and unincorporated business taxes), then such shareholder shall indemnify the Company or any such Subsidiary in
full for the entire amount paid (including interest, penalties and related expenses, other than any such interest, penalties and expenses resulting from the Company or such Subsidiary failing to comply with applicable law). The Company or any
Subsidiary, as applicable, may pursue and enforce all rights and remedies it may have against each PEC Holder, CPEC Holder and/or Shareholder under this Section 12.19, including instituting a lawsuit to collect such indemnification and
contribution with interest calculated at a rate equal to the lower of (i) 12% per annum and (ii) the highest rate per annum permitted by applicable law(s), in either case compounded as of the last day of each year (but not in excess
of the highest rate per annum permitted by applicable law). The Company shall automatically reduce the amount of any distributions to which a PEC Holder, CPEC Holder and/or Shareholder is otherwise entitled in accordance with the provisions of this
Agreement by the amount of any such payment made by the Company or any of its Subsidiaries that is specifically attributable to such PEC Holder, CPEC Holder and/or Shareholder. A PEC Holder, CPEC Holder and/or Shareholder’s obligation to
indemnify the Company or any of its Subsidiaries under this Section 12.19 shall survive the termination, dissolution, liquidation and winding up of the Company or any such Subsidiary, and for purposes of this Section 12.19,
the Company or any such Subsidiary shall be treated as continuing in existence. 
  
 12.20 Entire Agreement. This Agreement, those documents expressly referred to herein, the other documents of even date herewith, the other Transaction Documents and any other agreements executed after
the date hereof pursuant to which one or more PECS, CPECS or Shares are issued embody the complete agreement and understanding among the parties hereto and supersede and preempt any prior understandings, agreements, or representations by or among
the parties, written or oral, which may have related to the subject matter hereof in any way. 
  
 12.21 Delivery by Facsimile. This Agreement, the agreements referred to herein, and each other agreement or instrument entered into in connection herewith or therewith or contemplated 

  

 - 32 - 

 
hereby or thereby, and any amendments hereto or thereto, to the extent signed and delivered by means of a facsimile machine, shall be treated in all manner
and respects as an original agreement or instrument and shall be considered to have the same binding legal effect as if it were the original signed version thereof delivered in person. At the request of any party hereto or to any such agreement or
instrument, each other party hereto or thereto shall re-execute original forms thereof and deliver them to all other parties. No party hereto or to any such agreement or instrument shall raise the use of a facsimile machine to deliver a signature or
the fact that any signature or agreement or instrument was transmitted or communicated through the use of a facsimile machine as a defense to the formation or enforceability of a contract and each such party forever waives any such defense.

  
 12.22 Survival. Sections 12.11,
12.12, 12.13, 12.14, 12.19 and 12.22 shall survive and continue in full force and effect in accordance with its terms notwithstanding any termination of this Agreement or the dissolution of the Company. 

 
 *     *    
*     *     * 
  

 - 33 - 

 IN WITNESS WHEREOF, the undersigned have executed or caused to be executed on their behalf this Joint
Venture Agreement as of the date first written above. 
  

			
	QubicaAMF Worldwide, S.a.r.l.
		
	 By:
	 	/s/    JOHN B. WALKER        
	 Name:
	 	John B. Walker
	 Title:
	 	Chief Operating Officer
	
	AMF Holdings, Inc.
		
	 By:
	 	/s/    CHRISTOPHER F.
CAESAR        
	 Name:
	 	Christopher F. Caesar
	 Title:
	 	Chief Financial Officer
	
	Qubica Lux, S.à.r.l.
		
	 By:
	 	/s/    EMANUELE GOVONI        
	 Name:
	 	Emanuele Govoni
	 Title:
	 	Director
		
	 By:
	 	/s/    PAOLO BARETTA        
	 Name:
	 	Paolo Baretta
	 Title:
	 	Director

  
 Agreed and
acknowledged solely for purposes of Sections 2.11, 2.12 and 4.1(a). 
  

			
	
	Qubica, S.p.A.
		
	 By:
	 	/s/    EMANUELE GOVONI        
	 Name:
	 	Emanuele Govoni
	 Title:
	 	Director
	
	Qubica USA, Inc.
		
	 By:
	 	/s/    EMANUELE GOVONI        
	 Name:
	 	Emanuele Govoni
	 Title:
	 	Director

			
	
	Qubica Canada, Inc.
		
	 By:
	 	/s/    EMANUELE GOVONI        
	 Name:
	 	Emanuele Govoni
	 Title:
	 	Director
	
	Aquta S.r.l.
		
	 By:
	 	/s/    EMANUELE GOVONI        
	 Name:
	 	Emanuele Govoni
	 Title:
	 	Director
	
	AMF Bowling Products, LLC
		
	 By:
	 	/s/    CHRISTOPHER F.
CAESAR        
	 Name:
	 	Christopher F. Caesar
	 Title:
	 	Chief Financial Officer
	
	AMF Bowling Products International BV
		
	 By:
	 	/s/    ROBERT HENDRIX        
	 Name:
	 	Robert Hendrix
	 Title:
	 	Director
	
	AMF Bowling India Private Limited
		
	 By:
	 	/s/    CHRISTOPHER F.
CAESAR        
	 Name:
	 	Christopher F. Caesar
	 Title:
	 	Chief Financial Officer
	
	AMF Bowling Poland Sp.zo.o
		
	 By:
	 	/s/    ROBERT HENDRIX        
	 Name:
	 	Robert Hendrix
	 Title:
	 	Director
	
	AMF Bowling Products, LLC (Russia)
		
	 By:
	 	/s/    ROBERT HENDRIX        
	 Name:
	 	Robert Hendrix
	 Title:
	 	Director

			
	
	AMF Bowling Products Mexico S. de R.L. de C.V.
		
	 By:
	 	/s/    W. THOMAS DIDLAKE        
	 Name:
	 	W. Thomas Didlake
	 Title:
	 	Director

  
 SCHEDULE A

  

									
	 	  	 Capital Contribution

	  	Number of PECS

	  	Number of CPECS

	  	Number of Shares

	 AMF Holdings, Inc. 
 8100 AMF Drive
 Mechanicsville, VA 23111
 Fax No.: (804) 730-0923
 Attn: CEO
	  	100% of the equity interests of each of AMF BV and AMF Products	  	19,550,000	  	128,800	  	9,200
					
	 Qubica Lux, S.à.r.l.
 Qubica Lux S.a.R.L.
 c/o Fiduciare Continentale
 16, Corso Allée Marconi
 L-2120 Luxembourg
 Fax No.: +352 453147
 Attention: Luc Braun
	  	100% of the equity interests of Qubica Products	  	19,550,000	  	128,800	  	9,200

  
 SCHEDULE B 

COMPANY AFFILIATED TRANSACTIONS SCHEDULE 
  
 None 

  
 SCHEDULE C 

INITIAL STRATEGIC PLAN 
  
 See attachment. 

  
 SCHEDULE D 

MAJOR COMPETITOR SCHEDULE 
  
 BrunswickCONTRIBUTION AGREEMENT

 Exhibit 10.13 
  
 EXECUTION COPY 
  
 CONTRIBUTION AGREEMENT 
  
 THIS CONTRIBUTION AGREEMENT (this “Agreement”) is made as of June 13, 2005, by and among QubicaAMF Worldwide S.à.R.L., a
Société à Responsabilité Limitée organized under the laws of Luxembourg (the “Company”), Qubica Lux S.à.R.L., a Société à Responsabilité Limitée organized
under the laws of Luxembourg (“Qubica”), and AMF Holdings, Inc., a Delaware corporation (“AMF Inc.”). Qubica and AMF Inc. are collectively referred to herein as the “Owners” and each individually as
an “Owner.” Except as otherwise indicated herein, capitalized terms used herein are defined in Section 10 hereof. 
  
 WHEREAS, AMF Inc. currently owns, and will own as of immediately prior to the Closing (as defined in Section 1D below), all of the outstanding
equity interests of each of AMF Bowling Products International BV, a company organized under the laws of the Netherlands (“AMF BV”), and AMF Bowling Products, LLC, a Virginia limited liability company (formerly known as AMF Bowling
Products, Inc.) (“AMF Products”). 
  
 WHEREAS,
Qubica currently owns, and will own as of immediately prior to the Closing, all of the outstanding equity interests of Qubica, S.p.A., a Società per Azioni organized under the laws of Italy (“Qubica Products”). 
  
 WHEREAS, AMF Inc. desires to contribute and transfer to the Company all of
the outstanding equity interests of AMF BV and AMF Products, in exchange for the Company’s issuance to AMF Inc. of Series 1 Preferred Equity Certificates of the Company having the rights and preferences contained in Exhibit A hereto
(“Series 1 PECS”), Series 1 Convertible Preferred Equity Certificates of the Company having the rights and preferences contained in Exhibit B hereto (“Series 1 CPECS”), and shares of the Company
(“Shares”), in each case on the terms and subject to the conditions contained herein. The outstanding equity interests of AMF BV and AMF Products are collectively referred to herein as the “AMF Assets.” 

 
 WHEREAS, Qubica desires to contribute and transfer to the Company all of
the outstanding equity interests of Qubica Products in exchange for the Company’s issuance to Qubica of Series 2 Preferred Equity Certificates of the Company having the rights and preferences contained in Exhibit C hereto
(“Series 2 PECS” and, together with Series 1 PECS, “PECS”), Series 2 Convertible Preferred Equity Certificates of the Company having the rights and preferences contained in Exhibit D hereto (“Series 2
CPECS” and, together with Series 1 CPECS, “CPECS”) and Shares, in each case on the terms and subject to the conditions contained herein. The outstanding equity interests of Qubica Products are referred to herein as the
“Qubica Assets.” 
  
 WHEREAS, the Company desires
to accept the contribution and transfer of the AMF Assets and the Qubica Assets (collectively, the “Contributed Assets”) by AMF Inc. and Qubica, respectively, on the terms contained herein. 
  

 1 

 NOW THEREFORE, in consideration of the foregoing, and the mutual covenants stated herein, and other
consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows: 
  
 Section 1. Authorization, Contribution and Closing. 
  
 A. Authorization of the Securities. As of the date hereof, the Company has authorized the issuance to the Owners of an aggregate of 39,100,000
PECS, 257,600 CPECS and 18,400 Shares, on the terms and subject to the conditions contained herein. Prior to the Closing, each Owner shall cause the Company to, and the Company shall, take all actions necessary or advisable to cause the Articles to
be amended to increase the share capital of the Company in a sufficient amount to consummate the transactions contemplated by Section 1B below. 
  
 B. Contribution and Acceptance of Contributed Assets and Issuance of Securities. 
  
 (a) At the Closing, subject to the terms and conditions contained herein and the concurrent closing of the
transactions contemplated by clause (b) below, (i) the Company shall issue to AMF Inc. 19,550,000 Series 1 PECS, 128,800 Series 1 CPECS and 9,200 Shares, (ii) AMF Inc. shall contribute, transfer and assign to the Company all of its
rights, title and interests in and to the AMF Assets, together with all documentation, including certificates, books, records, contracts, commitments, financial statements, minutes of meetings, and investor and shareholder communications
(collectively, “Documentation”), related primarily to AMF Products, AMF BV or any of their respective Subsidiaries or branches, and (iii) the Company shall accept and assume all of AMF Inc.’s rights, title, interests and
obligations in, to and under the AMF Assets, together with all Documentation related primarily thereto. 
  
 (b) At the Closing, subject to the terms and conditions contained herein and the concurrent closing of the transactions contemplated by
clause (a) above, (i) the Company shall issue to Qubica 19,550,000 Series 2 PECS, 128,800 Series 2 CPECS and 9,200 Shares, (ii) Qubica shall contribute, transfer and assign to the Company all of its right, title and interest in and to
the Qubica Assets, together with all Documentation related primarily to Qubica Products or any of its Subsidiaries, and (iii) the Company shall accept and assume all of Qubica’s rights, title, interests and obligations in, to and under the
Qubica Assets, together with all Documentation related primarily thereto. 
  
 C. Payment of Expenses and AMF Indebtedness. At the Closing, the Company shall: (i) reimburse Qubica (and/or its designee(s)) for all documented third-party out-of-pocket Transaction Expenses reasonably
incurred by or on behalf of Qubica, Qubica Products or any Qubica Subsidiary, or any of their respective Affiliates or other shareholders, on or prior to the date hereof (provided that, for purposes of this Section 1C, including clause
(iii) below, the 1% stamp duty tax in the amount of 300,000 euro to be incurred by Qubica in connection with its formation and the contribution of the Qubica Assets to the Company shall be deemed to have been incurred prior to the date hereof),
provided that the Company’s obligation to Qubica pursuant to this clause (i) shall in no event exceed $1,750,000; (ii) reimburse AMF Inc. (and/or its designee(s)) for all documented third-party out-of-pocket Transaction Expenses
reasonably incurred by or on behalf of AMF Inc., AMF Products or any AMF Subsidiary, or any of their respective Affiliates or other shareholders, on or prior to the date hereof, provided that the Company’s obligation to AMF Inc. pursuant to
this clause (ii) shall in no event exceed $1,750,000; (iii) reimburse Qubica (and/or its designee(s)) for all documented third-party out-of-pocket Transaction Expenses reasonably incurred by or on behalf of Qubica or any of its Affiliates
or other shareholders (excluding any Transaction Expenses incurred by or on behalf of Qubica Products or any Qubica Subsidiary) after the date hereof; (iv) reimburse AMF Inc. (and/or its designee(s)) for all documented third-party out-of-pocket
Transaction Expenses reasonably incurred by or on behalf of AMF Inc. or any of its Affiliates or other shareholders (excluding any Transaction Expenses incurred by or on behalf of AMF Products or any AMF Subsidiary) after the date hereof; and
(v) cause each of AMF Products and AMF BV to pay in full all amounts owed by AMF Products and AMF BV to AMF Worldwide as of immediately prior to the Closing under (x) the Demand Promissory Note (the “Demand Note”) issued
on the date hereof by AMF Products to AMF Worldwide in the original principal sum of $3,681,941, a copy 

  

 2 

 
of which is attached hereto as Exhibit E, and (y) the Revolving Demand Promissory Note (the “Revolving Note”) issued by AMF
Products and AMF BV to AMF Worldwide on February 28, 2005, a copy of which is attached hereto as Exhibit F and under which the outstanding amount as of the opening of business on the date this Agreement is executed by the parties hereto
is $5,893,687. 
  
 D. Closing. The closing of the
transactions contemplated by this Agreement (the “Closing”) shall take place at the offices of Kirkland & Ellis LLP, Citigroup Center, 153 E. 53rd Street, New York, NY 10022, commencing at 10:00 a.m. on the second business day following the satisfaction of all conditions to the obligation of each Owner
to consummate the transactions contemplated hereby (other than conditions with respect to actions that the respective parties will take at the Closing itself), or at such other place or on such other date as may be mutually agreed upon by the
Owners. The date of the Closing is referred to herein as the “Closing Date.” 
  
 E. Net Indebtedness Adjustment. 
  
 (a) Determination of Adjustment Amounts. As soon as practicable (but in any event within 10 days) following the Closing, the Board shall retain an accounting firm of internationally recognized standing, who
shall not have any material relationship with AMF or Qubica or any of their respective Affiliates (the “Accounting Firm”), to make a final determination in accordance with the terms hereof of (i) the collective Net Indebtedness
of AMF Products, AMF BV and the AMF Subsidiaries (the “AMF Net Indebtedness”) and (ii) the collective Net Indebtedness of Qubica Products and the Qubica Subsidiaries (provided that, for purposes of this calculation, only 51% of
the Net Indebtedness of Nextia shall be included) (the “Qubica Net Indebtedness”), in each case as of the opening of business on the date this Agreement is executed by the parties hereto (each such amount, an “Adjustment
Amount” and, collectively, the “Adjustment Amounts”); provided, however, if the Board is unable to agree on the selection of an Accounting Firm within such period, the AMF Managers (as defined in the JV
Agreement) and the Qubica Managers (as defined in the JV Agreement) shall each select within 10 days after the expiration of such period one (1) such accounting firm, and the two accounting firms shall jointly select a third accounting firm,
which shall serve as the Accounting Firm for the purposes of this Section 1E; provided, further, that if either the AMF Managers or the Qubica Managers fail to select one (1) such accounting firm within such 10 day
period, the accounting firm selected by the other shall serve as the Accounting Firm for the purposes of this Section 1E. The Board shall request that the Accounting Firm render a determination as to each Adjustment Amount within 30 days
after its retention (or as soon as practicable thereafter), and each of AMF Inc., Qubica and the Company shall (and the Company shall cause its Subsidiaries to) fully cooperate with the Accounting Firm during the term of its engagement so as to
enable it to make its determination as quickly and as accurately as practicable. The Adjustment Amounts shall become final and binding on the Company and each Owner on the date the Accounting Firm delivers its final determination in writing to the
Board. The fees and expenses of the Accounting Firm shall be borne by the Company. 
  
 (b) Net Indebtedness Adjustments. 
  
 (i) If the amount of the AMF Net Indebtedness is less than the AMF Target Net Indebtedness, the Company shall, for purposes of
Section 1E(c) below, owe to AMF Inc. an amount equal to such shortfall (the “AMF Net Indebtedness Shortfall Amount”). If the amount of the Qubica Net Indebtedness is less than the Qubica Target Net Indebtedness, the
Company shall, for purposes of Section 1E(c) below, owe to Qubica an amount equal to such shortfall (the “Qubica Net Indebtedness Shortfall Amount”). 
  
 (ii) If the amount of the AMF Net Indebtedness is greater than the AMF Target Net Indebtedness, the Company
shall, for purposes of Section 1E(c) below, owe to Qubica an 

  

 3 

 
amount equal to such excess (the “AMF Net Indebtedness Excess Amount”). If the amount of the Qubica Net Indebtedness is greater than the
Qubica Target Net Indebtedness, the Company shall, for purposes of Section 1E(c) below, owe to AMF Inc. an amount equal to such excess (the “Qubica Net Indebtedness Excess Amount”). 
  
 (c) Payment. The sum of the Qubica Net Indebtedness
Shortfall Amount, if any, and the AMF Net Indebtedness Excess Amount, if any, shall be referred to herein as the “AMF Shortfall Amount.” The sum of the AMF Net Indebtedness Shortfall Amount, if any, and the Qubica Net Indebtedness
Excess Amount, if any, shall be referred to herein as the “Qubica Shortfall Amount.” Notwithstanding any implication herein to the contrary: 
  

(i) in the event that the aggregate amount owed by the Company to AMF Inc. pursuant to Section 1E(b) above (i.e., the
Qubica Shortfall Amount) exceeds the amount owed by the Company to Qubica pursuant to such sections (i.e., the AMF Shortfall Amount), the Company shall, within 5 days after the Adjustment Amounts are finally determined pursuant to
Section 1E(a) above, pay to AMF Inc., by wire transfer of immediately available funds to an account designated by AMF Inc., an amount equal to the Qubica Shortfall Amount minus the AMF Shortfall Amount, which payment shall be treated as
an adjustment to and return of a portion of the AMF Assets; or 
  
 (ii) in the event that the aggregate amount owed by the Company to Qubica pursuant to Section 1E(b) above (i.e., the AMF Shortfall Amount) exceeds the amount owed by the Company to AMF Inc. pursuant to
such sections (i.e., the Qubica Shortfall Amount), the Company shall, within 5 days after the Adjustment Amounts are finally determined pursuant to Section 1E(a) above, pay to Qubica, by wire transfer of immediately available funds to an
account designated by Qubica, an amount equal to the AMF Shortfall Amount minus the Qubica Shortfall Amount, which payment shall be treated as an adjustment to the Qubica Assets. 
  
 Section 2. Conditions of each Owner’s Obligation at the Closing. The obligation of each Owner to contribute the portion of the
Contributed Assets to be contributed by it pursuant to Section 1B is subject to the satisfaction as of the Closing of the following conditions: 
  
 A. Compliance with Applicable Laws. The contribution of the Contributed Assets and acquisition of Securities hereunder by such Owner shall not be
prohibited by any applicable law or governmental regulation, shall not subject such Owner to any material penalty or liability under or pursuant to any applicable law or governmental regulation, and shall be permitted by the laws and regulations of
the jurisdictions to which such Owner is subject. 
  
 B.
Judgments, Decrees and Orders. No judgment, decree or order shall have been issued preventing the performance of this Agreement or the consummation of any of the transactions contemplated hereby or declaring unlawful the transactions
contemplated by this Agreement. 
  
 C. Governmental Consents
and Approvals. All governmental filings, consents, authorizations and approvals, if any, set forth on the Governmental Consents Schedule attached hereto shall have been made and obtained. 
  
 D. Debt Financing. The Company shall have secured a credit facility or
facilities (the “Credit Facility”) from one or more third party lenders, contingent only on the closing of the transactions contemplated by this Agreement, providing for available financing of at least $32,000,000 (or, to the extent
any portion of such financing is denominated in a currency other than U.S. Dollars, the equivalent thereof); provided that such minimum amount shall be reduced by the aggregate amount of the collective Indebtedness of Qubica Products and the
Qubica Subsidiaries (provided that, for purposes of this 

  

 4 

 
calculation, only 51% of the Indebtedness of Nextia shall be included) and the aggregate amount of the collective Indebtedness of AMF Products, AMF BV and
the AMF Subsidiaries, in each case to the extent such Indebtedness is not repaid as of the Closing and is not required to be repaid hereunder or under the terms of such Indebtedness as a result of the Closing. 
  
 E. Waiver. Any condition specified in this Section 2 may
be waived with respect to an Owner only if such waiver is set forth in a writing executed by such Owner. 
  
 Section 3. Covenants. 
  
 A. Financial Statements and Other Information. From and after the Closing, the Company shall deliver to each Owner (so long as such Owner holds any Securities): 
  
 (a) as soon as available but in any event within 30 days after the end of each monthly accounting period in
each fiscal year, unaudited consolidating and consolidated statements of income and cash flows of the Company and its Subsidiaries for such monthly period and for the period from the beginning of the fiscal year to the end of such monthly period,
and consolidating and consolidated balance sheets of the Company and its Subsidiaries as of the end of such monthly period, all prepared in accordance with US GAAP, subject to the absence of footnote disclosures and to normal year-end
adjustments; 
  
 (b) accompanying the financial
statements referred to in Section 3A(a) above, (i) a monthly reporting package for the Company and its Subsidiaries similar to that which AMF Products and its Subsidiaries provided on a monthly basis to AMF Worldwide prior to the
date hereof, (ii) a copy of any such or similar reporting package received by the Company from its Subsidiaries after the date hereof and (iii) an Officer’s Certificate stating that neither the Company nor any of its Subsidiaries is
in default under any of its material agreements or, if any such default exists, specifying the nature and period of existence thereof and what actions the Company and its Subsidiaries have taken and propose to take with respect thereto; 

 
 (c) within 90 days after the end of each fiscal year of
the Company, (i) consolidating and consolidated statements of income and cash flows of the Company and its Subsidiaries for such fiscal year, and consolidating and consolidated balance sheets of the Company and its Subsidiaries as of the end of
such fiscal year, setting forth in each case comparisons to the annual budget and to the preceding fiscal year, all prepared in accordance with US GAAP, and (ii) consolidating and consolidated statements of income and cash flows of the
Company and its Subsidiaries for such fiscal year, and consolidating and consolidated balance sheets of the Company and its Subsidiaries as of the end of such fiscal year, setting forth in each case comparisons to the annual budget and to the
preceding fiscal year, all prepared in accordance with IAS, and for each of clauses (i) and (ii), accompanied by (A) with respect to the consolidated portions of such statements (except with respect to budget data and specifically
excluding any consolidating schedules used to prepare such consolidated statements), an opinion containing no exceptions or qualifications (except for qualifications regarding specified contingent liabilities) of the Company’s independent
accounting firm, and (B) a copy of such accounting firm’s annual management letter to the Board; 
  
 (d) promptly upon receipt thereof, any additional reports, management letters or other detailed information concerning significant aspects
of the operations or financial affairs of the Company and its Subsidiaries given to the Company by its independent accountants (and not otherwise contained in other materials provided hereunder); 
  

 5 

 (e) at least 30 days prior to the beginning of each fiscal year, an annual budget
prepared on a monthly basis for the Company and its Subsidiaries for such fiscal year (displaying anticipated statements of income and cash flows), and promptly upon preparation thereof any other significant budgets or strategic plans prepared by
the Company and any revisions of such annual or other budgets, and within 30 days after any monthly period in which there is a material adverse deviation from the annual budget, an Officer’s Certificate explaining the deviation and what actions
the Company has taken and proposes to take with respect thereto; 
  
 (f) promptly (but in any event within five business days) after: 
  
 (i) the discovery or receipt of notice of any default under any agreement to which the Company or any of its Subsidiaries is a party that
is reasonably likely to have a Material Adverse Effect; 
  
 (ii) any litigation, action, investigation or proceeding is commenced, or to the knowledge of the Company or any Subsidiary, is threatened to be, or has a reasonable likelihood of being (based on the existence of any
material dispute with any Person or otherwise), commenced and that is, or any pending litigation, action, investigation or proceeding that becomes, reasonably likely to (A) have a material adverse effect on the ability of the Company or any
Subsidiary to perform its material obligations under its agreements, (B) have a Material Adverse Effect or (C) constitute or result in a material breach of any representation, warranty, covenant or agreement set forth in any agreement to
which the Company or any Subsidiary is a party; 
  
 (iii) any material casualty, damage, destruction, loss or forfeiture (whether or not covered by insurance and whether or not in the ordinary course of business or consistent with past practice) having a Material Adverse Effect; 

 
 (iv) any change in the conduct of the business of the
Company or any Subsidiary, or any change in the manner in which the Company or any Subsidiary markets, produces, distributes or sells its products or services that has had or may reasonably be expected to have a Material Adverse Effect; 

 
 (v) any material change in any accounting procedures,
practices or the basis of accounting of the Company or any Subsidiary; or 
  
 (vi) any other transaction, event or circumstance affecting the Company or any Subsidiary reasonably likely to have a Material Adverse Effect (including any material alteration or change in the business plan or
strategy of the Company or any Subsidiary); 
  
 an Officer’s Certificate
specifying the nature and period of existence thereof and what actions the Company and its Subsidiaries have taken and propose to take with respect thereto, and, to the extent applicable, until such matter(s) are finally resolved, subsequent
Officer’s Certificates shall be delivered at the end of every 90-day period beginning after the initial Officer’s Certificate is required to be delivered under this Section 3A(f) specifying the current status of such matter(s);

  
 (g) within 10 days after transmission
thereof, copies of all financial statements, proxy statements, reports and any other general written communications that the Company sends to its shareholders and copies of all registration statements and all regular, special or periodic reports
that it files, or any of its officers or managers file with respect to the Company and its Subsidiaries, with any governmental authority (including, without limitation, the Securities and Exchange Commission) or with any securities exchange on which
any of the Company’s Shares are then listed, and copies of all press 

  

 6 

 
releases and other statements made available generally by the Company to the public concerning material developments in the Company’s and its
Subsidiaries’ businesses; 
  
 (h) on a
quarterly basis, a Financial Statement Certificate executed by the chief executive officer, chief financial officer and the controller of the Company in form and substance substantially similar to Exhibit G attached hereto; 
  
 (i) at the same time as provided to the lenders under the
Credit Facility, copies of all correspondence and documents provided to the lenders thereunder; and 
  
 (j) with reasonable promptness, such other information and financial data concerning the Company and its Subsidiaries as any Person
entitled to receive information under this Section 3A may reasonably request (including, without limitation, such information and cooperation necessary for such Person and/or its Affiliates, in its reasonable discretion, to complete all
external securities filings and any reviews and audits in connection therewith). 
  
 Each of the financial statements referred to in subsections (a) and (c) shall be true and correct in all material respects as of the dates and for the periods stated therein, subject in the case of the unaudited financial
statements to changes resulting from normal year-end audit adjustments (none of which would, alone or in the aggregate, be materially adverse to the financial condition, operating results, assets, operations or business prospects of the Company and
its Subsidiaries taken as a whole). 
  
 B. Compliance with
Applicable Laws. So long as any Owner holds any Securities, the Company shall, and shall cause each Subsidiary to, comply in all material respects with all applicable laws, rules and regulations of all governmental authorities, and pay and
discharge when payable all Taxes (except to the extent the same are being contested in good faith and adequate reserves therefor have been established). 
  
 C. Current Public Information. At all times after the Company (or its successor) has filed a registration statement with the Securities and
Exchange Commission pursuant to the requirements of either the Securities Act or the Securities Exchange Act (or any similar statement pursuant to the requirements of equivalent rules and regulations in any other applicable jurisdiction), the
Company (or its successor) shall file all reports required to be filed by it under the Securities Act and the Securities Exchange Act and the rules and regulations adopted by the Securities and Exchange Commission thereunder (or equivalent rules and
regulations adopted by an equivalent governing body in any other applicable jurisdiction) and shall take such further action as any holder or holders of Securities may reasonably request, all to the extent required to enable such holders to sell
Securities pursuant to (a) Rule 144 adopted by the Securities and Exchange Commission under the Securities Act (as such rule may be amended from time to time) or any similar rule or regulation hereafter adopted by the Securities and Exchange
Commission (or pursuant to any other rules and regulations in any other applicable jurisdiction providing for a similar method of disposition) or (b) a registration statement on Form S-2 or S-3 or any similar registration form hereafter adopted
by the Securities and Exchange Commission (or equivalent form adopted pursuant to rules, regulations or governing bodies in any other applicable jurisdiction). Upon request, the Company (or its successor) shall deliver to any holder of Securities a
written statement as to whether it has complied with any such applicable requirements. 
  
 D. Public Disclosures. Neither the Company nor any Owner shall, nor shall the Company permit any Subsidiary to, disclose the name or identity of any Owner, or any Affiliate of any Owner, as an investor in the
Company in any press release or other public announcement (it being agreed that internal confidential communications with such Person’s investors shall not be considered a public announcement) or in any document or material filed with any
governmental entity, without the prior written consent of 

  

 7 

 
such Owner, unless such disclosure is required by applicable law or governmental regulations or by order of a court of competent jurisdiction, in which case
prior to making such disclosure the disclosing party shall give written notice to such Owner describing in reasonable detail the proposed content of such disclosure and shall permit such Owner to review and comment upon the form and substance of
such disclosure. 
  
 E. Compliance with Hart-Scott-Rodino and
Other Competition Laws. In connection with any transaction in which the Company or any of its Subsidiaries is involved (a “Transaction”) that is required to be reported under the Hart-Scott-Rodino Antitrust Improvements Act of
1976, as amended from time to time (the “HSR Act”) and/or under the competition laws of any other jurisdiction, the Company shall prepare and file all documents that may be required to comply with the HSR Act and/or with such other
competition laws, and shall promptly furnish all materials thereafter requested by any of the regulatory agencies having jurisdiction over such Transaction, in connection with such Transaction. The Company shall take all reasonable actions and shall
file and use reasonable best efforts to have declared effective or approved all documents and notifications with any governmental or regulatory bodies, as may be necessary or may reasonably be requested under any applicable competition laws for the
consummation of the Transaction. Notwithstanding the foregoing, if any Owner, rather than the Company, is required to make a filing under the HSR Act and/or the competition laws of any other jurisdiction in connection with a Transaction, the Company
will provide to such Owner all necessary information for such filing, will execute any documents required in connection with such filing, will facilitate such filing and will pay all fees and expenses associated with such filing. 
  
 Section 4. Representations and Warranties Regarding the Company. As a material
inducement to each Owner to enter into this Agreement and contribute its portion of the Contributed Assets, each Owner, severally and not jointly, hereby represents and warrants to the other Owner that to such Owner’s knowledge: 
  
 A. Organization and Corporate Power. The Company is a
Société à Responsabilité Limitée duly organized under the laws of Luxembourg, validly existing and in good standing under the laws of Luxembourg. The Company has all requisite organizational power and authority and
all material licenses, permits and authorizations necessary to carry out the transactions contemplated by this Agreement. 
  
 B. Securities and Related Matters. 
  
 (a) As of the Closing and immediately thereafter, the outstanding share capital of the Company will consist of 18,400 Shares, entirely
subscribed and paid up and held by the shareholders as set forth in Section 1B hereof. In addition, the Company will be the owner of PECS and CPECS, and the holders of such PECS and CPECS will be as set forth in
Section 1B hereof. As of the Closing, the Company will not be subject to any obligation (contingent or otherwise) to repurchase or otherwise acquire or retire any of its Securities or any warrants, options or other rights to acquire any
of its Securities, except pursuant to this Agreement, the JV Agreement, the Articles or the terms and conditions of the PECS and CPECS as contained in Exhibits A, B, C and D attached hereto. As of the Closing, all of the
Company’s outstanding Shares shall be validly issued and fully paid. 
  
 (b) There are no statutory or contractual preemptive rights or rights of refusal with respect to the issuance of the Securities hereunder, except as expressly contemplated in the JV Agreement or as provided or
contemplated herein. Based in part on the investment representations of the Owners in Section 6F hereof, the Company has not violated any applicable securities laws in connection with the offer, sale or issuance of any of the Securities,
and the offer, sale and issuance of the Securities hereunder do not and will not require registration under any applicable securities laws. There are no agreements between the Company’s securityholders with respect to the voting or transfer of
the Company’s Securities 

  

 8 

 
or with respect to any other aspect of the Company’s affairs, except for the JV Agreement, the Articles and the Shareholders Agreement. 
  
 C. Authorization; Valid and Binding Agreements. The execution,
delivery and performance of this Agreement, the JV Agreement, the Articles, the Supply Agreement, the Interim Distributorship Agreement, the Interim Supply Agreement, the Services Agreement, the Reverse Services Agreement, the Management Agreements,
the CEO Employment Agreement, the Shareholders Agreement, the Trademark Agreement, the Plant Lease, the Bell Creek Lease, the UK Services Agreement, the UK Pension Cost Allocation Agreement and the Affiliated Party Undertakings and Agreements
(collectively, the “Transaction Documents”) and all other agreements contemplated hereby to which the Company is a party have been duly authorized by the Company. The Transaction Documents and all other agreements contemplated
hereby each constitutes a valid and binding obligation of the Company, enforceable in accordance with its terms. 
  
 D. Conduct of Business; Liabilities. Other than in connection with the negotiation, execution and delivery of the Transaction Documents and all
other agreements contemplated hereby and thereby, the Company has not (i) conducted any business, (ii) incurred any expenses, obligations or liabilities (whether accrued, absolute, contingent, unliquidated or otherwise, whether or not
known to the Company and whether due or to become due and regardless of when asserted), (iii) owned any assets including any interests in any other Person, (iv) entered into any contracts or agreements, or (v) violated any laws or
governmental rules or regulations. 
  
 E. Governmental
Consents, etc. Except as set forth on the Governmental Consents Schedule, no permit, consent, approval or authorization of, or declaration to or filing with, any governmental authority is required in connection with the execution,
delivery and performance by the Company of the Transaction Documents or the other agreements contemplated hereby, or the consummation by the Company of any other transactions contemplated hereby or thereby. 
  
 F. Disclosure. Neither this Agreement nor any of the schedules,
attachments, written statements, documents, certificates or other items prepared or supplied to the Owners by or on behalf of the Company with respect to the transactions contemplated hereby contain any untrue statement of a material fact or omit a
material fact necessary to make each statement contained herein or therein not misleading. There is no fact which the Company has not disclosed to the Owners in writing and of which any of its officers, managers or executive employees is aware and
which has had or might reasonably be anticipated to have a material adverse effect upon the existing or expected financial condition, operating results, assets, customer or supplier relations, employee relations or business prospects of the Company.

  
 G. Closing Date. The representations and warranties
regarding the Company contained in this Section 4 and elsewhere in this Agreement and all information contained in any exhibit, schedule or attachment hereto or in any writing delivered by, or on behalf of, the Company to the Owners will
be true and correct in all material respects on the Closing Date as though then made. 
  
 Section 5. Representations and Warranties Regarding the Owners and the Contributed Assets. As a material inducement to the other Owner to enter into this Agreement and contribute its portion of the Contributed Assets, each Owner,
severally and not jointly, hereby represents and warrants to the other Owner that, except as otherwise expressly contemplated by the Transaction Documents: 
  
 A. Organization and Power. Such Owner is duly organized, validly existing and in good standing under the laws of its jurisdiction of organization,
has full organizational power to enter into the Transaction Documents and the other agreements contemplated hereby to which such Owner is a party and to perform such Owner’s obligations hereunder and thereunder. 
  

 9 

 B. Authorization. The execution, delivery and performance by such Owner of this Agreement
and the other agreements contemplated hereby to which such Owner is a party and the consummation of the transactions contemplated hereby and thereby are within the powers and authority of such Owner, have been duly authorized by all necessary
corporate (or equivalent) action on the part of such Owner. 
  
 C.
Valid and Binding Agreements. This Agreement, and each of the other agreements contemplated hereby to which such Owner is a party, has been duly executed and delivered by such Owner, and this Agreement constitutes, and the other agreements
contemplated hereby to which such Owner is a party, when executed and delivered by such Owner in accordance with the terms thereof shall each constitute, a valid and binding obligation of such Owner, enforceable in accordance with its terms, subject
to the effect of bankruptcy or other similar laws and to general principles of equity (whether considered in proceedings at law or in equity). 
  
 D. No Violation. Except as set forth on the Governmental Consents Schedule, the execution, delivery and performance by such Owner of this
Agreement and the other agreements contemplated hereby to which such Owner is a party, the contribution of such Owner’s portion of the Contributed Assets to the Company, and the fulfillment of and compliance with the respective terms hereof and
thereof by such Owner, do not and will not (i) conflict with or result in a breach of the terms, conditions or provisions of, (ii) constitute a default under, (iii) result in the creation of any Lien upon such Owner’s portion of
the Contributed Assets pursuant to, (iv) give rise to any right of termination, cancellation or acceleration of any right or obligation of such Owner or any of its Subsidiaries or to the loss of any benefit to which such Owner or any of its
Subsidiaries is entitled under, (v) result in a violation of, or (vi) require any authorization, consent, approval, exemption or other action by or notice to any court or administrative or governmental body pursuant to, the certificate of
incorporation or bylaws (or equivalent governing documents) of such Owner or any of its Subsidiaries, any material law, statute, rule, regulation, order, judgment or decree to which such Owner or any of its Subsidiaries is subject, or any material
agreement or instrument to which such Owner or any of its Subsidiaries is a party or by which such Owner or any of its Subsidiaries is bound. 
  
 E. Contributed Assets. 
  
 (a) In the case of AMF Inc.: 
  
 (i) Such Owner is the record and beneficial owner of all of the outstanding equity interests of each of AMF Products and AMF BV;

  
 (ii) Such Owner is not a party to any option,
warrant, right, contract, call, put or other agreement or commitment providing for the acquisition or disposition of any equity interests of AMF Products or AMF BV (other than this Agreement), nor is such Owner a party to any voting trust, proxy or
other agreement or understanding with respect to the voting of any equity interests of AMF Products or AMF BV; 
  
 (iii) On the Closing Date, such Owner will transfer to the Company good and marketable title to all of the outstanding equity interests of
each of AMF Products and AMF BV, free and clear of all Liens, other than those imposed under the CSFB Credit Agreement, all of which Liens will be released as of the Closing, and other than those imposed by applicable securities laws; 
  
 (iv) AMF Products and/or AMF BV is the record and beneficial
owner of all of the outstanding equity interests of each of (A) AMF Bowling India Private Limited, a company organized under the laws of India, (B) AMF Bowling Poland Sp.zo.o, a company organized under the 

  

 10 

 
laws of Poland, (C) AMF Bowling Products, LLC, a company organized under the laws of Russia and (D) AMF Bowling Products Mexico, S. de R.L. de
C.V., a company organized under the laws of Mexico, in each case free and clear of all Liens (other than those imposed under the CSFB Credit Agreement, all of which Liens will be released as of the Closing), except for Permitted Liens and liens
imposed by applicable law; 
  
 (v) None of AMF
Products, AMF BV or any of the Subsidiaries referenced in clause (iv) above (collectively, the “AMF Subsidiaries”) owns or controls (directly or indirectly), or holds or has any rights or options to subscribe for, purchase or
acquire, any shares of stock, partnership interest, joint venture interest, equity participation or any other security or interest in any other Person; 
  
 (vi) AMF Products, AMF BV and each AMF Subsidiary has all authorizations, licenses and permits necessary to own and operate its properties
and to carry on its business as now conducted, except where the failure to hold such authorizations, licenses and permits would not have a Material Adverse Effect; 
  
 (vii) AMF Products, AMF BV or an AMF Subsidiary has good and marketable title to, free and clear of all
Liens (other than those imposed under the CSFB Credit Agreement, all of which Liens will be released as of the Closing, and other than Permitted Liens), or a valid leasehold interest in, or a license to use pursuant to a valid and enforceable
written agreement, the properties and assets, tangible or intangible, used by it or located on its premises, except for inventory disposed of in the ordinary course of business. As of the Closing, AMF Products, AMF BV and the AMF Subsidiaries will
collectively own, or have a valid leasehold interest in, or a valid license to use, all the assets and rights necessary for the conduct of their businesses as presently conducted and as proposed to be conducted; 
  
 (viii) Other than in connection with the negotiation,
execution and delivery of the Transaction Documents and all other agreements contemplated hereby and thereby (including, without limitation, certain internal restructuring transactions such as the distribution of AMF UK by AMF Products to AMF Inc.
and the assignment of the assets and liabilities of the billiards business from AMF Products to AMF Billiards & Games LLC), since November 28, 2004, each of AMF Products, AMF BV and the AMF Subsidiaries has (i) conducted its
business and operations only in the ordinary course of business consistent with past practice (including, without limitation, with respect to the incurrence of Indebtedness, the collection of accounts receivable and the payment of accounts payable),
(ii) not declared or made any dividends or distributions of cash, stock, property or assets with respect to any of its capital stock, or redeemed, retired, repurchased or otherwise acquired, directly or indirectly, any of its capital stock and
(iii) not increased in any material respect the compensation (including, but not limited to, base salary, bonus and perquisites or pursuant to any severance or retirement plans or policies) or benefits of, or entered into any (or amended any
existing) deferred compensation, severance, retirement or other similar agreement with, any officer, director, manager, employee or consultant. 
  
 (ix) The AMF Intellectual Property Schedule contains a complete and accurate list of all (i) patented or registered
Intellectual Property Rights owned or held by AMF Products, AMF BV or an AMF Subsidiary, (ii) pending patent applications and applications, including any intent-to-use, provisional, or other applications, or other applications for registration
of Intellectual Property Rights filed by or on behalf of AMF Products, AMF BV or an AMF Subsidiary and (iii) any unregistered Intellectual Property Rights that are material to the conduct of AMF Products’, AMF BV’s or any AMF
Subsidiary’s respective businesses as presently conducted, or as presently planned to be conducted, including any such Intellectual Property Rights as are embodied or used in any past, current or planned products. AMF Products, AMF BV or an AMF
Subsidiary owns and possesses all right, title and interest to the Intellectual Property Rights set forth on the AMF Intellectual Property Schedule. Except as set 

  

 11 

 
forth on the AMF Intellectual Property Schedule, AMF Products, AMF BV or an AMF Subsidiary owns and possesses, free and clear of all Liens (other than
those imposed under the CSFB Credit Agreement, all of which Liens will be released as of the Closing, and other than Permitted Liens), all right, title and interest to, or has a license to use pursuant to a valid and enforceable written agreement
listed on the AMF Intellectual Property Schedule, all Intellectual Property Rights used in or necessary for the operation of their respective businesses as presently conducted and as proposed to be conducted. Except as set forth on the AMF
Intellectual Property Schedule, AMF Products, AMF BV or an AMF Subsidiary owns and possesses all right, title and interest in and to all Intellectual Property Rights created or developed by AMF Products’, AMF BV’s and the AMF
Subsidiaries’ employees and independent contractors, or otherwise under the direction or supervision of AMF Products’, AMF BV’s and the AMF Subsidiaries’ employees or independent contractors, relating to AMF Products’, AMF
BV’s or the AMF Subsidiaries’ (as applicable) business or to the actual or demonstratively anticipated research or development conducted by or for AMF Products, AMF BV or an AMF Subsidiary. Except as set forth on the AMF Intellectual
Property Schedule, none of the Owners nor any Affiliate of any Owner (other than AMF Products, AMF BV or an AMF Subsidiary) owns or holds any Intellectual Property Rights that are embodied or used in AMF Products’, AMF BV’s or the AMF
Subsidiaries’ respective businesses or products. Except as set forth on the AMF Intellectual Property Schedule, no loss, cancellation or expiration of any Intellectual Property Right owned or used by AMF Products, AMF BV or an AMF
Subsidiary is threatened, pending or reasonably foreseeable; 
  
 (x) Except as set forth on the AMF Intellectual Property Schedule, (i) there have been no claims, suits, arbitrations, mediations, or other adversarial or ex parte proceeding made, threatened or initiated
before any governmental authority or in any jurisdiction against AMF Products, AMF BV or any AMF Subsidiary or against such Owner asserting the invalidity, misuse or unenforceability of any of the Intellectual Property Rights owned or used by AMF
Products, AMF BV or any AMF Subsidiary, (ii) none of AMF Products, AMF BV, the AMF Subsidiaries and such Owner has received any notices of, and there are no facts that indicate a likelihood of, any infringement or misappropriation by, or
conflict with, any third party with respect to any Intellectual Property Rights (including any demand or request that AMF Products, AMF BV or any AMF Subsidiary license any rights from a third party, or identifying any third party Intellectual
Property Rights in relation to one or more products or services), (iii) the conduct of the AMF Products’, AMF BV’s or the AMF Subsidiaries’ businesses has not infringed, misappropriated or conflicted with, and the continued
conduct of AMF Products’, AMF BV’s or the AMF Subsidiaries’ businesses will not infringe, misappropriate or conflict with, any Intellectual Property Rights of any other Person, and (iv) the Intellectual Property Rights owned by
or licensed to AMF Products, AMF BV and the AMF Subsidiaries have not been infringed, misappropriated or conflicted by any other Person. Except as disclosed on the AMF Third Party Consents Schedule, the execution of the Transaction Documents
will not have a material adverse effect on AMF Products’, AMF BV’s or the AMF Subsidiaries’ right, title or interest in and to the Intellectual Property Rights owned, held or used by AMF Products, AMF BV or any AMF Subsidiary and all
of such Intellectual Property Rights used by AMF Products, AMF BV or any AMF Subsidiary shall be owned or available for use from a Person other than any Owner or any of their Affiliates by AMF Products, AMF BV and the AMF Subsidiaries immediately
after the Closing on terms and conditions identical to those under which they were owned or available for use immediately before the Closing; 
  
 (xi) Except for source code escrow provisions (each of which has been provided to Qubica), only the executable code relating to any of the
Software on the AMF Intellectual Property Schedule (“AMF Software”) has been disclosed to any third party and no third party has asserted any right to access any source code for any of the AMF Software; 
  
 (xii) AMF Products, AMF BV and the AMF Subsidiaries have not
and do not use or incorporate into any AMF Software, including without limitation, any third-party software or 

  

 12 

 
software components embedded, integrated, bundled with or otherwise distributed with the AMF Software, any software that requires as a condition of use
(including, but not limited to, pursuant to GNU General Public License), modification and/or distribution of such software that other software incorporated into, derived from or distributed with such software be (i) disclosed or distributed in
source code form; (ii) licensed for the purpose of making derivative works; or (iii) redistributable at no charge; 
  
 (xiii) There are no known defects in any of the AMF Software that would prevent the AMF Software from performing substantially in
accordance with its published user documentation or specifications. AMF Products, AMF BV and the AMF Subsidiaries use current industry standard tools and methods to ensure that there are no viruses, worms, Trojan horses or similar programs in any of
the AMF Software; 
  
 (xiv) Except as set forth
on the AMF Intellectual Property Schedule, AMF Products, AMF BV and the AMF Subsidiaries have entered into written agreements with each of their current and former employees and agents engaged in computer programming, research or development,
and with all independent contractors AMF Products, AMF BV and the AMF Subsidiaries have engaged in computer programming, research or development providing in each case for the protection of confidential information relating to their business, and
for the assignment to AMF Products, AMF BV or the applicable AMF Subsidiary of all works of authorship, inventions, improvements, and discoveries created or developed by such employees, agents and independent contractors within the scope of their
employment or agency or pursuant to the applicable contractor agreement; 
  
 (xv) Except as contemplated by this Agreement, the JV Agreement or any of the Transaction Documents and except as set forth on the AMF Affiliated Transactions Schedule, (A) no officer, director, employee,
shareholder or Affiliate (nor any officer, director, employee or shareholder of any such Affiliate) of AMF Products, AMF BV or any of the AMF Subsidiaries or any individual related by blood, marriage or adoption to any such individual or any entity
in which any such Person or individual owns any beneficial interest, is a party to any agreement, contract, commitment or transaction with AMF Products, AMF BV or any of the AMF Subsidiaries or has any interests in any property used by AMF Products,
AMF BV or any of the AMF Subsidiaries and (B) any such agreement, contract, commitment, transaction or otherwise is terminable at will by AMF Inc. or an AMF Subsidiary, as the case may be; and 
  
 (xvi) There are no claims against the Company, AMF Products,
AMF BV or any of the AMF Subsidiaries for brokerage commissions, finders’ fees or similar compensation in connection with the transactions contemplated by this Agreement or any of the other agreements contemplated hereby based on any
arrangement or agreement made by or on behalf of such Owner or any of its Affiliates. 
  
 (b) In the case of Qubica: 
  
 (i) Such Owner is the record and beneficial owner of all of the outstanding equity interests of Qubica Products; 
  
 (ii) Such Owner is not a party to any option, warrant,
right, contract, call, put or other agreement or commitment providing for the acquisition or disposition of any equity interests of Qubica Products (other than this Agreement), nor is such Owner a party to any voting trust, proxy or other agreement
or understanding with respect to the voting of any equity interests of Qubica Products; 
  

 13 

 (iii) On the Closing Date, such Owner will transfer to the Company good and marketable
title to all of the outstanding equity interests of Qubica Products, free and clear of all Liens, other than those imposed by applicable securities laws; 
  
 (iv) Qubica Products is the record and beneficial owner of (a) all of the outstanding equity interests of each of Qubica Canada,
Inc., a Canada corporation, Qubica USA, Inc., a Florida corporation, and Aquta S.r.l., a limited liability company organized under the laws of Italy, and (b) 51% of the outstanding equity interests of Nextia S.r.l., a limited liability company
organized under the laws of Italy (“Nextia”), in each case free and clear of all Liens, except for Permitted Liens and liens imposed by applicable law; 
  
 (v) Neither Qubica Products nor any of the Subsidiaries referenced in clause (iv) above (collectively,
the “Qubica Subsidiaries”) owns or controls (directly or indirectly), or holds or has any rights or options to subscribe for, purchase or acquire, any shares of stock, partnership interest, joint venture interest, equity
participation or any other security or interest in any other Person; 
  
 (vi) Qubica Products and each Qubica Subsidiary has all authorizations, licenses and permits necessary to own and operate its properties and to carry on its business as now conducted, except where the failure to hold
such authorizations, licenses and permits would not have a Material Adverse Effect; 
  
 (vii) Qubica Products or a Qubica Subsidiary has good and marketable title to, or a valid leasehold interest in, or a license to use
pursuant to a valid and enforceable written agreement, the properties and assets, tangible or intangible, used by it or located on its premises, free and clear of all Liens, except for inventory disposed of in the ordinary course of business and
except for Permitted Liens. As of the Closing, Qubica Products and the Qubica Subsidiaries will collectively own, or have a valid leasehold interest in, or a valid license to use, all the assets and rights necessary for the conduct of their
businesses as presently conducted and as proposed to be conducted; 
  
 (viii) Other than in connection with the negotiation, execution and delivery of the Transaction Documents and all other agreements contemplated hereby and thereby (including, without limitation, the purchase by Qubica
Products of 51% of the outstanding equity interests of Nextia), since December 31, 2004, each of Qubica Products and the Qubica Subsidiaries has (i) conducted its business and operations only in the ordinary course of business consistent
with past practice (including, without limitation, with respect to the incurrence of Indebtedness, the collection of accounts receivable and the payment of accounts payable), (ii) not declared or made any dividends or distributions of cash,
stock, property or assets with respect to any of its capital stock, or redeemed, retired, repurchased or otherwise acquired, directly or indirectly, any of its capital stock and (iii) except as set forth on the Qubica Increases in
Compensation Schedule, not increased in any material respect the compensation (including, but not limited to, base salary, bonus and perquisites or pursuant to any severance or retirement plans or policies) or benefits of, or entered into any
(or amended any existing) deferred compensation, severance, retirement or other similar agreement with, any officer, director, manager, employee or consultant. 
  

(ix) The Qubica Intellectual Property Schedule contains a complete and accurate list of all (i) patented or registered
Intellectual Property Rights owned or held by Qubica Products or a Qubica Subsidiary, (ii) pending patent applications and applications, including any intent-to-use, provisional, or other applications, or other applications for registration of
Intellectual Property Rights filed by or on behalf of Qubica Products or a Qubica Subsidiary and (iii) any unregistered Intellectual Property Rights that are material to the conduct of Qubica Products’ or any Qubica Subsidiary’s
respective businesses as presently conducted, or as presently planned to be conducted, including any such Intellectual Property Rights as are embodied or used in any past, current or planned 

  

 14 

 
products. Qubica Products or a Qubica Subsidiary owns and possesses all right, title and interest to the Intellectual Property Rights set forth on the
Qubica Intellectual Property Schedule. Qubica Products or a Qubica Subsidiary owns and possesses all right, title and interest to all Intellectual Property Rights used in or necessary for the operation of their respective businesses as
presently conducted and as proposed to be conducted, free and clear of all Liens, except for Permitted Liens. Qubica Products or a Qubica Subsidiary owns and possesses all right, title and interest in and to all Intellectual Property Rights created
or developed by Qubica Products’ or the Qubica Subsidiaries’ employees and independent contractors, or otherwise under the direction or supervision of Qubica Products’ or the Qubica Subsidiaries’ employees or independent
contractors, relating to Qubica Products’ or the Qubica Subsidiaries’ (as applicable) business or to the actual or demonstratively anticipated research or development conducted by or for AMF Products, AMF BV or an AMF Subsidiary. None of
the Owners nor any Affiliate of any Owner (other than Qubica Products or a Qubica Subsidiary) owns or holds any Intellectual Property Rights that are embodied or used in Qubica Products’ or the Qubica Subsidiaries’ respective businesses or
products. Except as set forth on the Qubica Intellectual Property Schedule, no loss, cancellation or expiration of any Intellectual Property Right owned or used by Qubica Products or a Qubica Subsidiary is threatened, pending or reasonably
foreseeable; 
  
 (x) Except as set forth on the
Qubica Intellectual Property Schedule, (i) there have been no claims, suits, arbitrations, mediations, or other adversarial or ex parte proceeding made, threatened or initiated before any governmental authority or in any jurisdiction
against Qubica Products or any Qubica Subsidiary or against such Owner asserting the invalidity, misuse or unenforceability of any of the Intellectual Property Rights owned or used by Qubica Products or any Qubica Subsidiary, (ii) none of
Qubica Products, the Qubica Subsidiaries and such Owner has received any notices of, and there are no facts that indicate a likelihood of, any infringement or misappropriation by, or conflict with, any third party with respect to any Intellectual
Property Rights (including any demand or request that Qubica Products or any Qubica Subsidiary license any rights from a third party, or identifying any third party Intellectual Property Rights in relation to one or more products or services),
(iii) the conduct of Qubica Products’ or the Qubica Subsidiaries’ businesses has not infringed, misappropriated or conflicted with, and the continued conduct of Qubica Products’ or the Qubica Subsidiaries’ businesses will
not infringe, misappropriate or conflict with, any Intellectual Property Rights of any other Person, and (iv) the Intellectual Property Rights owned by or licensed to Qubica Products and the Qubica Subsidiaries have not been infringed,
misappropriated or conflicted by any other Person. Except as disclosed on the Qubica Third Party Consents Schedule, the execution of the Transaction Documents will not have a material adverse effect on Qubica Products’ or the Qubica
Subsidiaries’ right, title or interest in and to the Intellectual Property Rights owned, held or used by Qubica Products or any Qubica Subsidiary and all of such Intellectual Property Rights used by Qubica Products or any Qubica Subsidiary
shall be owned or available for use from a Person other than any Owner or any of their Affiliates by Qubica Products and the Qubica Subsidiaries immediately after the Closing on terms and conditions identical to those under which they were owned or
available for use immediately before the Closing; 
  
 (xi) Except for source code escrow provisions (each of which has been provided to AMF Inc.), only the executable code relating to any of the Software on the Qubica Intellectual Property Schedule (“Qubica Software”)
has been disclosed to any third party and no third party has asserted any right to access any source code for any of the Qubica Software; 
  
 (xii) Qubica Products and the Qubica Subsidiaries have not and do not use or incorporate into any Qubica Software, including without
limitation, any third-party software or software components embedded, integrated, bundled with or otherwise distributed with the Qubica Software, any software that requires as a condition of use (including, but not limited to, pursuant to GNU
General Public License), modification and/or distribution of such software that other software incorporated into, derived 

  

 15 

 
from or distributed with such software be (i) disclosed or distributed in source code form; (ii) licensed for the purpose of making derivative
works; or (iii) redistributable at no charge; 
  
 (xiii) There are no known defects in any of the Qubica Software that would prevent the Qubica Software from performing substantially in accordance with its published user documentation or specifications. Qubica Products and the Qubica
Subsidiaries use current industry standard tools and methods to ensure that there are no viruses, worms, Trojan horses or similar programs in any of the Qubica Software; 
  
 (xiv) Qubica Products and the Qubica Subsidiaries have entered into written agreements with each of their
current and former employees and agents engaged in computer programming, research or development, and with all independent contractors Qubica Products and the Qubica Subsidiaries have engaged in computer programming, research or development
providing in each case for the protection of confidential information relating to their business, and for the assignment to Qubica Products or the applicable Qubica Subsidiary of all works of authorship, inventions, improvements, and discoveries
created or developed by such employees, agents and independent contractors within the scope of their employment or agency or pursuant to the applicable contractor agreement; 
  
 (xv) Except as contemplated by this Agreement, the JV Agreement or any of the Transaction Documents and
except as set forth on the Qubica Affiliated Transactions Schedule, (A) no officer, director, employee, shareholder or Affiliate (nor any officer, director, employee or shareholder of any such Affiliate) of Qubica Products or any of the
Qubica Subsidiaries or any individual related by blood, marriage or adoption to any such individual or any entity in which any such Person or individual owns any beneficial interest, is a party to any agreement, contract, commitment or transaction,
whether written or otherwise, with Qubica Products or any of the Qubica Subsidiaries or has any interests in any property used by Qubica Products or any of the Qubica Subsidiaries and (B) any such agreement, contract, commitment, transaction or
otherwise is terminable at will by Qubica Products or a Qubica Subsidiary, as the case may be; and 
  
 (xvi) There are no claims against the Company, Qubica Products or any of the Qubica Subsidiaries for brokerage commissions, finders’
fees or similar compensation in connection with the transactions contemplated by this Agreement or any of the other agreements contemplated hereby based on any arrangement or agreement made by or on behalf of such Owner or any of its Affiliates.

  
 F. Investment Representations. Such Owner (i) is
acquiring the Securities purchased hereunder or acquired pursuant hereto for its own account with the present intention of holding such securities for purposes of investment, and that it has no intention of selling such securities in a public
distribution in violation of any applicable securities laws, (ii) is a sophisticated investor, (iii) was not offered the Securities by any means of general solicitation or general advertising, (iv) believes that it has such knowledge
and experience in financial and business matters that such Owner is capable of evaluating the merits and risks of an investment in the Company, and (v) is able to bear the economic risks of an investment in the Securities and could afford a
complete loss of such investment. Each certificate for Securities, if any, shall be imprinted with a legend in substantially the form as set forth in Exhibit A, B, C or D, as applicable. 
  
 G. Litigation. With respect to such Owner, except in the case of AMF
as set forth on the attached AMF Litigation Schedule, there are no actions, suits or proceedings pending against such Owner or any of its Subsidiaries, at law or in equity, or before or by any federal, state, municipal or other governmental
department, commission, board, bureau, agency or instrumentality, domestic or foreign, which if determined adversely to such Owner or any of its Subsidiaries would have a Material Adverse 

  

 16 

 
Effect, and neither such Owner nor any of its Subsidiaries is subject to any outstanding judgment, order or decree of any court or governmental body.

  
 H. Tax Compliance. With respect to such Owner, except
in the case of AMF as set forth on the attached AMF Tax Schedule, each Owner and its Subsidiaries have timely filed all material federal, state, local and foreign tax returns and reports required to be filed by it, and all Taxes shown as
owing by such Owner and its Subsidiaries on all such tax returns have been fully paid or properly accrued, and all such returns and reports are correct and complete in all material respects, except to the extent that such failures individually or in
the aggregate have not had and would not reasonably be expected to have a Material Adverse Effect. 
  
 I. Closing Date. The representations and warranties of such Owner contained in this Section 5 and elsewhere in this Agreement and all
information contained in any exhibit, schedule or attachment hereto or in any certificate or other writing delivered by, or on behalf of, such Owner to the other Owner pursuant to this Agreement and the other agreements contemplated hereby shall be
true and correct on the Closing Date as though then made. 
  
 Section 6.
Pre-Closing Operations. 
  
 A. AMF Inc. Covenants.
Except as expressly contemplated by this Agreement, the Transaction Documents and all other agreements contemplated hereby and thereby, AMF Inc. hereby agrees that prior to the Closing, unless Qubica otherwise agrees in writing, AMF Inc. will cause
AMF Products, AMF BV and each of the AMF Subsidiaries to, and, in the case of clauses (g), (h), (j) and (k), AMF Inc. will: 
  
 (a) conduct its business and operations only in the ordinary course of business consistent with past practice (including, without
limitation, with respect to the incurrence of Indebtedness, whether pursuant to the Demand Note, the Revolving Note or otherwise, the collection of accounts receivable and the payment of accounts payable) and for the benefit of the Company;

  
 (b) use best efforts to keep its business
organization and properties intact, including its present business operations, physical facilities, working conditions and employees and its present relationships with lessors, licensors, suppliers and customers and others having business relations
with it; 
  
 (c) keep in full force and effect
its corporate existence and all rights, franchises, proprietary rights and intellectual property rights and all governmental licenses, permits, approvals and other authorizations relating or pertaining to its business and use its reasonable efforts
to cause its current insurance (or reinsurance) policies not to be canceled or terminated or any of the coverage thereunder to lapse; 
  
 (d) maintain its material assets in good repair, order and condition (normal wear and tear excepted) consistent with current needs,
replace in accordance with prudent practices its inoperable, worn out or obsolete assets with assets of good quality consistent with prudent practices and current needs and, in the event of a casualty, loss or damage to any of such assets or
properties prior to the Closing Date, either repair or replace such damaged property or use the proceeds of such insurance in such other manner as mutually agreed upon by the Owners; 
  
 (e) encourage its employees to continue their employment with such Person after the Closing and provide
prompt written notice to the other Owner of any employee or group of employees which have given notice to any such Person of his, her or their intention to terminate employment with such Person; 
  

 17 

 (f) maintain its books, accounts and records in accordance with past custom and practice;

  
 (g) promptly (once AMF Inc. obtains knowledge
thereof) inform Qubica in writing of any variances from the representations and warranties of AMF Inc. contained in Section 4 or 5 hereof or any breach of any covenant hereunder by AMF Inc.; 
  
 (h) cooperate with Qubica and use its best efforts to cause
the conditions to Qubica’s obligation to close to be satisfied (including, without limitation, the execution and delivery of all agreements contemplated hereunder to be so executed and delivered and the making and obtaining of all third party
and governmental notices, filings, authorizations, approvals, consents, releases and terminations necessary or desirable to consummate the transactions contemplated hereby); 
  
 (i) comply in all material respects with all applicable laws, ordinances, and regulations in the operation
of its business; 
  
 (j) cooperate with Qubica in
its investigation of the businesses and properties of AMF Products, AMF BV and the AMF Subsidiaries, and to permit Qubica and its employees, agents, and accounting, legal and other authorized representatives to (i) have full access to the
premises, books and records of AMF Products, AMF BV and the AMF Subsidiaries at reasonable hours, (ii) visit and inspect any of the properties of AMF Products, AMF BV and the AMF Subsidiaries, and (iii) discuss the affairs, finances and
accounts of AMF Products, AMF BV and the AMF Subsidiaries with the directors, officers, partners, key employees, key customers, key sales representatives, key suppliers and independent accountants of such Persons; 
  
 (k) use best efforts to obtain an early termination of the
waiting period under any applicable competition laws and make any further filings pursuant thereto that may be necessary, proper or advisable in connection therewith; 
  
 (l) not declare or make any dividends or distributions of cash, stock, property or assets with respect to
any of its capital stock, or redeem, retire, repurchase or otherwise acquire, directly or indirectly, any of its capital stock; 
  
 (m) not increase in any manner the compensation (including, but not limited to, base salary, bonus and perquisites) or benefits of any
officer, director, manager, employee or consultant; 
  
 (n) not (i) enter into any deferred compensation, severance, retirement or other similar agreement with any officer, director, manager, employee or consultant (or amendment to any such existing agreement), other than as required by
applicable law, (ii) grant any severance or termination pay to any officer, director, manager, employee or consultant or (iii) increase the compensation or other benefits payable to any officer, director, manager, employee or consultant
pursuant to any severance or retirement plans or policies thereof; 
  
 (o) not guarantee, or commit to guarantee, the obligations of any other Person (including, without limitation, guarantees in the form of an agreement to repurchase or reimburse); and 
  
 (p) except as set forth on the AMF Affiliated
Transactions Schedule and except as expressly contemplated by the Transaction Documents, not engage in any agreement, contract, commitment or transaction with, or make any payment to or for the benefit of, any of its direct or indirect
stockholders, officers, directors, managers, employees or consultants or with any of their Affiliates or 

  

 18 

 
with any individual related by blood, marriage or adoption to any such individual or any entity in which any such Person or individual owns any beneficial
interest. 
  
 B. Qubica Covenants. Except as expressly
contemplated by this Agreement, the Transaction Documents and all other agreements contemplated hereby and thereby, Qubica hereby agrees that prior to the Closing, unless AMF Inc. otherwise agrees in writing, Qubica will cause Qubica Products and
each of the Qubica Subsidiaries to, and, in the case of clauses (g), (h), (j) and (k), Qubica will: 
  
 (a) conduct its business and operations only in the ordinary course of business consistent with past practice (including, without
limitation, with respect to the incurrence of Indebtedness, the collection of accounts receivable and the payment of accounts payable) and for the benefit of the Company; 
  
 (b) use best efforts to keep its business organization and properties intact, including its present business
operations, physical facilities, working conditions and employees and its present relationships with lessors, licensors, suppliers and customers and others having business relations with it; 
  
 (c) keep in full force and effect its corporate existence
and all rights, franchises, proprietary rights and intellectual property rights and all governmental licenses, permits, approvals and other authorizations relating or pertaining to its business and use its reasonable efforts to cause its current
insurance (or reinsurance) policies not to be canceled or terminated or any of the coverage thereunder to lapse; 
  
 (d) maintain its material assets in good repair, order and condition (normal wear and tear excepted) consistent with current needs,
replace in accordance with prudent practices its inoperable, worn out or obsolete assets with assets of good quality consistent with prudent practices and current needs and, in the event of a casualty, loss or damage to any of such assets or
properties prior to the Closing Date, either repair or replace such damaged property or use the proceeds of such insurance in such other manner as mutually agreed upon by the Owners; 
  
 (e) encourage its employees to continue their employment with such Person after the Closing and provide
prompt written notice to the other Owner of any employee or group of employees which have given notice to any such Person of his, her or their intention to terminate employment with such Person; 
  
 (f) maintain its books, accounts and records in accordance
with past custom and practice; 
  
 (g) promptly
(once Qubica obtains knowledge thereof) inform AMF Inc. in writing of any variances from the representations and warranties of Qubica contained in Section 4 or 5 hereof or any breach of any covenant hereunder by Qubica; 
  
 (h) cooperate with AMF Inc. and use its best efforts to
cause the conditions to AMF Inc.’s obligation to close to be satisfied (including, without limitation, the execution and delivery of all agreements contemplated hereunder to be so executed and delivered and the making and obtaining of all third
party and governmental notices, filings, authorizations, approvals, consents, releases and terminations necessary or desirable to consummate the transactions contemplated hereby); 
  
 (i) comply in all material respects with all applicable laws, ordinances, and regulations in the operation
of its business; 
  

 19 

 (j) cooperate with AMF Inc. in its investigation of the businesses and properties of
Qubica Products and the Qubica Subsidiaries, and to permit AMF Inc. and its employees, agents, and accounting, legal and other authorized representatives to (i) have full access to the premises, books and records of Qubica Products and the
Qubica Subsidiaries at reasonable hours, (ii) visit and inspect any of the properties of Qubica Products and the Qubica Subsidiaries, and (iii) discuss the affairs, finances and accounts of Qubica Products and the Qubica Subsidiaries with
the directors, officers, partners, key employees, key customers, key sales representatives, key suppliers and independent accountants of such Persons; 
  
 (k) use best efforts to obtain an early termination of the waiting period under any applicable competition laws and make any further
filings pursuant thereto that may be necessary, proper or advisable in connection therewith; 
  
 (l) not declare or make any dividends or distributions of cash, stock, property or assets with respect to any of its capital stock, or
redeem, retire, repurchase or otherwise acquire, directly or indirectly, any of its capital stock; 
  
 (m) except as set forth on the Qubica Increases in Compensation Schedule, not increase in any manner the compensation (including,
but not limited to, base salary, bonus and perquisites) or benefits of any officer, director, manager, employee or consultant; 
  
 (n) not (i) enter into any deferred compensation, severance, retirement or other similar agreement with any officer, director,
manager, employee or consultant (or amendment to any such existing agreement), other than as required by applicable law, (ii) grant any severance or termination pay to any officer, director, manager, employee or consultant or
(iii) increase the compensation or other benefits payable to any officer, director, manager, employee or consultant pursuant to any severance or retirement plans or policies thereof; 
  
 (o) not guarantee, or commit to guarantee, the obligations
of any other Person (including, without limitation, guarantees in the form of an agreement to repurchase or reimburse); and 
  
 (p) except as set forth on the Qubica Affiliated Transactions Schedule and except as expressly contemplated by the Transaction
Documents, not engage in any agreement, contract, commitment or transaction with, or make any payment to or for the benefit of, any of its direct or indirect stockholders, officers, directors, managers, employees or consultants or with any of their
Affiliates or with any individual related by blood, marriage or adoption to any such individual or any entity in which any such Person or individual owns any beneficial interest. 
  
 Section 7. Non-Competition and Non-Solicitation. 
  
 A. Each Owner agrees that, from and after the Closing for so long as such Owner holds any Securities and for two years
thereafter, such Owner will not, and will cause its Subsidiaries (other than the Company and its Subsidiaries) to not, directly or indirectly, own any interest in, manage, control, participate in (whether as an owner, operator, manager, consultant,
officer, director, employee, investor, agent, representative or otherwise), consult with, render services for, or in any manner otherwise engage in, any business (other than that of the Company and its Subsidiaries) that manufactures and/or
distributes bowling or amusement products of the type manufactured and/or distributed by the Company in any geographical area in which the Company or any of its Subsidiaries engages. Notwithstanding the foregoing, nothing herein shall prohibit
(i) any Owner from owning any Securities, (ii) any Owner from being a passive owner of not more than 2% of the outstanding stock of any class that is publicly traded (so long as such Owner has no active participation in the business of
such corporation), (iii) AMF Inc. or 

  

 20 

 
its Affiliates from owning and operating any billiards business, bowling center, or pro-shop in connection with their bowling centers business. 

 
 B. Each Owner agrees that, from and after the Closing for so long as such
Owner holds any Securities and for two years thereafter, such Owner will not, and will cause its Subsidiaries (other than the Company and its Subsidiaries) to not, directly or indirectly through another entity, (i) induce or attempt to induce
any employee of the Company or any of its Subsidiaries to leave the employ of the Company or such Subsidiary, or in any way interfere with the relationship between the Company or any of its Subsidiaries and any employee thereof, (ii) hire any
person who was an employee of the Company or any of its Subsidiaries within 180 days prior to the time such employee was hired by such Owner or any of its Subsidiaries, (iii) induce or attempt to induce any customer, supplier, licensee,
licensor, franchisee, lessor or other business relation of the Company or any of its Subsidiaries to cease doing business with the Company or such Subsidiary, or in any way interfere with the relationship between any such customer, supplier,
licensee, licensor, franchisee or other business relation and the Company or any of its Subsidiaries (including, without limitation, making any negative statements or communications about the Company or any of its Subsidiaries), provided that
nothing in this clause (iii) shall prevent BCO or AMF UK from making any commercially reasonable communication with its subcontractors or from exercising its rights to terminate the Services Agreement or the Reverse Services Agreement,
respectively, according to the terms of such agreements or (iv) directly or indirectly acquire or attempt to acquire an interest in any business which manufactures and/or distributes bowling or amusement products and with which the Company or
any of its Subsidiaries has entertained discussions or has requested and received information relating to the acquisition of such business by the Company or any of its Subsidiaries. 
  
 C. Each Owner acknowledges and agrees that the covenants set forth in this Section 7 are reasonable with respect
to period, geographical area and scope. Notwithstanding anything in this Section 7 to the contrary, if at any time, in any judicial proceeding, any of the restrictions stated in this Section 7 are found by a final order of a
court of competent jurisdiction to be unreasonable or otherwise unenforceable under circumstances then existing, each Owner agrees that the period, scope or geographical area, as the case may be, shall be reduced to the extent necessary to enable
the court to enforce the restrictions to the extent such provisions are allowable under law, giving effect to the agreement and intent of the Owners that the restrictions contained herein shall be effective to the fullest extent permissible. Each
Owner acknowledges and agrees that money damages may not be an adequate remedy for any breach or threatened breach of the provisions of this Section 7 and that, in such event, the Company or the other Owner or their respective successors
or permitted assigns shall, in addition to any other rights and remedies existing in their favor, be entitled to specific performance, injunctive and/or other relief from any court of competent jurisdiction in order to enforce or prevent any
violations of the provisions of this Section 7 (including the extension of the non-competition and non-solicitation periods applicable to any Owner by a period equal to the length of court proceedings necessary to stop such violation),
provided that such Owner is found to have been in violation of the provisions of this Section 7. Any injunction shall be available without the posting of any bond or other security. In the event of an alleged breach or violation by any
Owner of any of the provisions of this Section 7, the non-competition and non-solicitation periods will be tolled for such Owner until such alleged breach or violation is resolved; provided that if such Owner is found to have not
violated the provisions of this Section 7, then the non-competition and non-solicitation periods will not be deemed to have been tolled. Each Owner agrees that the restrictions contained in this Section 7 are necessary to
protect the goodwill of the Company’s business and the value of the other Owner’s investment in the Company. 
  

 21 

 Section 8. Termination. 
  

A. This Agreement may be terminated at any time prior to the Closing: 
  
 (a) by mutual written consent of each Owner; or 
  
 (b) by either Owner, upon delivery of a written notice of
termination to the other Owner, if the Closing has not occurred on or prior to December 31, 2005; provided that an Owner shall not be entitled to terminate this Agreement pursuant to this Section 8A(b) if such Owner’s
breach of this Agreement has prevented the consummation of the transactions contemplated hereby at or prior to such time. 
  
 B. Effect of Termination. In the event of a termination of this Agreement as provided in Section 8A, this Agreement shall forthwith
terminate and there shall be no liability on the part of any Owner to the other Owner under this Agreement, except that the provisions of Section 10 and Section 11 shall continue in full force and effect and except that
nothing herein shall relieve any Owner from liability for any breach of any Transaction Document prior to such termination. 
  
 Section 9. Indemnification. 
  
 A. Survival. All representations, warranties, covenants and agreements contained herein or made in writing by any party in connection herewith
shall survive the execution and delivery of this Agreement and the consummation of the transactions contemplated hereby, regardless of any investigation made by or on behalf of any Owner and whether or not any Owner knew or had reason to know of any
misrepresentation or breach at the time of the Closing. 
  
 B.
Indemnification Provisions. 
  
 (a)
Subject to the limitations set forth in Section 9B(b), each Owner shall indemnify the other Owner and each of such other Owner’s officers, directors, employees, agents, representatives, successors and assigns (each an
“Indemnitee”), and save and hold each of them harmless from and against, and pay on behalf of or reimburse any Indemnitee as and when incurred for, all Losses which any Indemnitee may suffer, sustain or become subject to as a result
of: 
  
 (i) any breach of any representation or
warranty of such indemnifying Owner in this Agreement or the JV Agreement or in any certificate delivered by such indemnifying Owner in connection with the Closing; or 
  
 (ii) any breach of any covenant or agreement made by or in respect of such indemnifying Owner in this
Agreement or the JV Agreement. 
  
 (b)
Limitations. With respect to any claim for indemnification being made by an Indemnitee pursuant to Section 9B(a)(i) (a “Limited Claim”), the indemnifying Owner shall not have any obligation to indemnify any
Indemnitee from and against any Losses by reason of any such breach (or alleged breach) unless (x) the aggregate amount of Losses with respect to such Limited Claim (and all related Limited Claims) exceeds $40,000 and (y) the Indemnitees
collectively have suffered Losses by reason of all breaches (or alleged breaches), other than those for which no indemnification is required as a result of clause (x), in excess of $400,000 (and then only to the extent that such Losses in the
aggregate exceed such amount). Notwithstanding the foregoing or anything else to the contrary contained herein, the limitations on indemnification set forth in this Section 9B(b) shall not apply to any claim based on fraud or willful
misconduct of the indemnifying Owner or any of its Affiliates (excluding the Company and its Subsidiaries) or any of their respective officers, directors or employees. 
  
 (c) Interest and Collection Expenses. Any payment required under this Section 9B shall
bear interest on a daily basis, compounded annually, at 6.5% per annum (or, if less, the maximum 

  

 22 

 
rate permitted by applicable usury laws), from the date on which such payment is finally determined by agreement of the parties or pursuant to
Section 11M to, but excluding, the date on which such payment is due in accordance with Section 9B(d). In addition, any payment required under this Section 9B that is not paid when due in accordance with
Section 9B(d) shall bear interest on a daily basis, compounded annually, at 12% per annum (or, if less, the maximum rate permitted by applicable usury laws), from the date on which such payment is due in accordance with
Section 9B(d) to, but excluding, the date on which such payment is made in full. The indemnifying Owner shall also reimburse the Indemnitee for any and all costs or expenses of any nature or kind whatsoever (including but not limited to
all attorneys’ fees) incurred in seeking to collect such payment. 
  
 (d) Satisfaction of Indemnification Claims. In the event an Indemnitee becomes entitled to any payments from an Indemnifying Owner pursuant to this Section 9B (including interest thereon (if any)
and all costs and expenses related thereto), such Indemnitee’s sole recourse for such payments shall be to receive from the Company, by wire transfer or delivery of other immediately available funds to an account designated by such Indemnitee,
all future Distributions (as defined in the JV Agreement) otherwise payable to the indemnifying Owner (excluding the amount of any such Distributions necessary for such indemnifying Owner to directly pay any income tax obligations of such
indemnifying Owner due and payable as of the date of such Distribution or which will become due and payable prior to the next scheduled Tax Distribution (as defined in the JV Agreement), in each case to the extent related to its ownership of PECS,
CPECS and/or Shares) until all such payments owed to such Indemnitee pursuant to this Section 9B have been satisfied in full; provided that, in the event that all or any portion of such payments remain unpaid as of the initial
Change of Control or Public Offering after the date hereof, such indemnifying Owner shall, concurrently with the consummation of such initial Change of Control or Public Offering, pay directly to such Indemnitee, by wire transfer or delivery of
other immediately available funds to an account designated by such Indemnitee, the full amount of all such remaining payments. Notwithstanding any implication herein to the contrary, all payments made by the Company to an Indemnitee pursuant to the
immediately preceding sentence shall, for all purposes hereunder and under the JV Agreement, be deemed to have been Distributed to the indemnifying Owner in accordance with the JV Agreement. 
  
 (e) Waiver. Each indemnifying Owner hereby agrees on
behalf of itself and its shareholders, directors, managers, officers, employees and agents that no such Person shall make any claim for indemnification against the Company or any of its Subsidiaries by reason of the fact that such Person was a
director, manager, officer, employee or agent of any such entity or is or was serving at the request of any such entity as a partner, trustee, director, manager, officer, employee or agent of another entity (whether such claim is for judgments,
damages, penalties, fines, costs, amounts paid in settlement, losses or expenses) with respect to any action, suit, proceeding, complaint, claim or demand brought by an Indemnitee against such indemnifying Owner (if such action, suit, proceeding,
complaint, claim or demand arises under this Agreement or the JV Agreement). Each indemnifying Owner, on behalf of itself and its shareholders, directors, managers, officers, employees and agents, hereby acknowledges that it will have no claims or
right to contribution or indemnity from the Company or any of its Subsidiaries with respect to amounts paid by such indemnifying Owner pursuant to this Section 9B. 
  
 Section 10. Definitions. For the purposes of this Agreement, the following terms have the meanings set forth below: 
  
 “Affiliate” of any particular Person or entity means any
other person or entity controlling, controlled by or under common control with such particular person or entity, where “control” means the possession, directly or indirectly, of the power to direct the management and policies of a Person
whether through the ownership of voting securities, contract or otherwise. 
  

 23 

 “Affiliated Party Undertakings and Agreements” means all such agreements to be entered
into after the date hereof pursuant to (a) the binding term sheet between the Company and Pat Ciniello, Bowling Management Associates, Purrfect Score and Bonita Coast Associates, Inc. and (b) each Affiliated Parties Undertaking between the
Company and each of Richard Albright, Michael Massey, Masuno Pty Ltd (which shall provide the services of Francesco Mascadri), Lancelot Consultoria & Marketing Lda (which shall provide the services of Francesco Mascadri), Lucien Rochefort,
Guido Sorba, Carol Simard and Stephane Asselin, in each case containing the terms and conditions set forth therein or in annexes thereto. 
  
 “AMF BV” means AMF Bowling Products International BV, a Netherlands company. 
  
 “AMF Target Net Indebtedness” means $7,569,731. 

 
 “AMF UK” means AMF Bowling Products UK Limited, a company
organized under the laws of the United Kingdom. 
  
 “AMF
Worldwide” means AMF Bowling Worldwide, Inc., a Delaware corporation. 
  
 “Articles” means the Company’s articles of incorporation, attached hereto as Exhibit H. 
  
 “Bell Creek Lease” means that certain Lease attached hereto as Exhibit I, dated as of the date hereof, to be effective as of the
Closing Date, by and between AMF Products and AMF Bowling Centers, Inc., a Delaware corporation (“AMF Centers”). 
  
 “Board” means the board of managers of the Company. 
  
 “Cash” means all cash and cash equivalents determined, in the case of AMF Inc., in accordance with
US GAAP and, in the case of Qubica, in accordance with IAS; provided that Cash (1) shall be calculated net of issued but uncleared checks and drafts; (2) shall include checks and drafts deposited for the account of such Person
and its Subsidiaries; and (3) may be a negative number. 
  
 “CEO Employment Agreement” means that certain Employment Agreement, dated as of the date hereof, to be effective as of the Closing Date, by and among AMF Products and John Walker. 
  
 “Change of Control” means any transaction or series of
transactions pursuant to which any Person or group of related Persons in the aggregate acquire(s) (i) CPECS and/or Shares representing more than 50% of the Shares outstanding on a fully-diluted basis at the time of such transaction or series of
transactions (assuming the conversion of all outstanding CPECS to Shares and the exercise of all outstanding options which are in-the-money as of the date of such transaction) or (ii) all or substantially all of the Company’s and its
Subsidiaries’ assets determined on a consolidated basis, in any case whether by merger, consolidation, joint venture, reorganization, liquidation or otherwise. 
  
 “Code” means the Luxembourg law of 10 August 1915 on commercial companies, as amended. 
  
 “Credit Agreement” means that certain Credit Agreement,
dated as of February 27, 2004, as amended September 20, 2004 and as further amended June 2, 2005, by and among Kingpin Intermediate Corp., AMF Worldwide Credit Suisse, Cayman Islands Branch, and the other banks and lending
institutions party thereto from time to time. 
  
 “IAS” means accounting principles adopted by the International Accounting Standards Committee, consistently applied. 
  

 24 

 “Indebtedness” means, at any particular time, without duplication, (x) the sum of
(i) any indebtedness for borrowed money or issued in substitution or exchange for indebtedness for borrowed money, (ii) any indebtedness evidenced by any note, bond, debenture or other debt security, (iii) any indebtedness for the
deferred purchase price of property or services with respect to which a Person is liable, contingently or otherwise, as obligor or otherwise (other than trade payables and other current liabilities incurred in the ordinary course of business which
are not more than six months past due), (iv) any obligations under capitalized leases with respect to which a Person is liable, contingently or otherwise, as obligor, guarantor or otherwise, or with respect to which obligations a Person assures
a creditor against loss, (v) any indebtedness secured by a Lien on a Person’s assets and (vi) accrued interest to and including the Closing Date in respect of any of the obligations described in the foregoing clauses (i) through
(vi) of this definition and all premiums, penalties, charges, fees, expenses and other amounts which would be due if such obligations were paid or prepaid in full on the Closing Date. 
  
 “Intellectual Property Rights” means any and all
intellectual and industrial proprietary rights and rights in confidential information of every kind and description anywhere in the world, including (i) patents and patent applications, (ii) Internet domain names, trademarks, service
marks, trade dress, trade names, logos, slogans and corporate names, all translations, adaptations, derivations and combinations of the foregoing, and registrations and applications for registration thereof together with all of the goodwill
associated therewith, (iii) copyrights (registered or unregistered) and copyrightable works including any proprietary software, interfaces or report formats, and registrations and applications for registration thereof, and (iv) mask works
and registrations and applications for registration thereof, and (v) trade secrets, know-how, manufacturing and production processes and techniques, research and development information, specifications, plans, proposals, compilations of data
and analyses, techniques, systems, formulae, research, records, reports, manuals, documentation, models, data and data bases relating thereto; and (vi) inventions, innovations, improvements, developments, methods, designs, analyses, drawings,
reports and all similar or related information, whether or not patentable and whether or not reduced to practice. 
  
 “Interim Distributorship Agreement” means that certain Interim Distributorship Agreement attached hereto as Exhibit J, dated as of
the date hereof, by and between AMF Products and Qubica Products. 
  
 “Interim Supply Agreement” means that certain Interim Supply Agreement attached hereto as Exhibit K, dated as of the date hereof, by and between AMF Products and Qubica Products. 
  
 “JV Agreement” means that certain Joint Venture Agreement
attached hereto as Exhibit L, dated as of the date hereof, to be effective as of the Closing Date, by and among the Company, each Owner, AMF Products, AMF BV, the AMF Subsidiaries, Qubica Products and the Qubica Subsidiaries (other than
Nextia). 
  
 “Lien” means any mortgage, pledge,
security interest, encumbrance, lien, or charge of any kind (including, without limitation, any conditional sale or other title retention agreement or lease in the nature thereof), any sale of receivables with recourse against the Company, any of
its Subsidiaries or any of its or their Affiliates, any filing or agreement to file a financing statement as debtor under the Uniform Commercial Code or any similar statute other than to reflect ownership by a third party of property leased to the
Company, any of its Subsidiaries or any of its or their Affiliates under a lease which is not in the nature of a conditional sale or title retention agreement, or any subordination arrangement in favor of another Person (other than any subordination
arising in the ordinary course of business). 
  
 “Loss” or “Losses” means all actions, suits, proceedings, hearings, investigations, charges, complaints, claims, demands, injunctions, orders, decrees, rulings, damages, dues, penalties, fines, costs,

  

 25 

 
amounts paid in settlement, liabilities, obligations, Taxes, Liens, losses, diminutions in value, expenses and fees (including, without limitation, court
costs and reasonable attorneys’ fees and expenses). 
  
 “Management Agreements” means the Management Agreements attached hereto as Exhibit M, each dated as of the date hereof, to be effective as of the Closing Date, by and among the Company and each of Emanuele Govoni,
Luca Drusiani and Roberto Vaioli. 
  
 “Material Adverse
Effect” shall mean a material adverse effect on the business, liabilities, operations, properties, assets, operating results, prospects or condition (financial or otherwise) of the Company or any Subsidiary. 
  
 “Net Indebtedness” means: 
  
 (x) with respect to AMF Products, AMF BV and the AMF Subsidiaries, without
duplication, (A) the sum of (i) any indebtedness for borrowed money or issued in substitution or exchange for indebtedness for borrowed money, (ii) any indebtedness evidenced by any note, bond, debenture or other debt security,
(iii) any indebtedness for the deferred purchase price of property or services with respect to which a Person is liable, contingently or otherwise, as obligor or otherwise (other than trade payables and other current liabilities incurred in the
ordinary course of business which are not more than six months past due), (iv) any obligations under capitalized leases with respect to which a Person is liable, contingently or otherwise, as obligor, guarantor or otherwise, or with respect to
which obligations a Person assures a creditor against loss, (v) any indebtedness secured by a Lien on a Person’s assets, (vi) any Taxes based on income or profits (net of all prepayments of such Taxes and net of any income Tax credits
to the extent such credits will reduce, in the current Tax period, the amount of any such Taxes) and (vii) accrued interest to and including the date hereof in respect of any of the obligations described in the foregoing clauses
(i) through (vi) of this definition and all premiums, penalties, charges, fees, expenses and other amounts which would be due if such obligations were paid or prepaid in full on the date hereof, in each case as of the opening of business
on the date this Agreement is executed by the parties hereto, minus (B) Cash as of the opening of business on the date this Agreement is executed by the parties hereto. For illustration purposes only, the collective Net Indebtedness of
AMF Products, AMF BV and the AMF Subsidiaries (excluding the assets and liabilities of AMF UK and the billiards business of AMF Products) as of March 27, 2005 is attached hereto as Exhibit N-1; and 
  
 (y) with respect to Qubica Products and the Qubica Subsidiaries, without
duplication, (A) the sum of (i) any indebtedness for borrowed money or issued in substitution or exchange for indebtedness for borrowed money, (ii) any indebtedness evidenced by any note, bond, debenture or other debt security,
(iii) any indebtedness for the deferred purchase price of property or services with respect to which a Person is liable, contingently or otherwise, as obligor or otherwise (other than trade payables and other current liabilities incurred in the
ordinary course of business which are not more than six months past due), (iv) any obligations under capitalized leases with respect to which a Person is liable, contingently or otherwise, as obligor, guarantor or otherwise, or with respect to
which obligations a Person assures a creditor against loss, (v) any indebtedness secured by a Lien on a Person’s assets, (vi) any Taxes based on income or profits (net of all prepayments of such Taxes and net of any income Tax credits
to the extent such credits will reduce, in the current Tax period, the amount of any such Taxes) and (vii) accrued interest to and including the date hereof in respect of any of the obligations described in the foregoing clauses
(i) through (vi) of this definition and all premiums, penalties, charges, fees, expenses and other amounts which would be due if such obligations were paid or prepaid in full on the date hereof, in each case as of the opening of business
on the date this Agreement is executed by the parties hereto, minus (B) the Qubica Revolving Loan Balance as of the opening of business on the date this Agreement is executed by the parties hereto, plus (C) the average of the
Qubica Revolving Loan Balance as of the end of each of the twelve months immediately preceding the month in which this Agreement is executed by the parties 

  

 26 

 
hereto, minus (D) the result of (i) the sum of Cash as of the opening of business on the date this Agreement is executed by the parties
hereto plus the average of Cash as of the end of each of the twelve months immediately preceding the month in which this Agreement is executed by the parties hereto, divided by (ii) two. For illustration purposes only, the collective Net
Indebtedness of Qubica Products and the Qubica Subsidiaries as of May 31, 2005 is attached hereto as Exhibit N-2. 
  
 “Officer’s Certificate” means a certificate executed by the Company’s chief executive officer or its chief financial officer,
stating that (i) the officer signing such certificate has made or has caused to be made such investigations as are necessary in order to permit such officer to verify the accuracy of the information set forth in such certificate and
(ii) to the best of such officer’s knowledge, such certificate does not misstate any material fact and does not omit to state any fact necessary to make the certificate not misleading. 
  
 “Permitted Liens” means (i) Liens with respect to Taxes
not yet due and payable or which are being contested in good faith by appropriate proceedings and for which adequate reserves have been established in accordance with US GAAP, in the case of AMF Products, AMF BV or an AMF Subsidiary, or IAS, in
the case of Qubica Products or a Qubica Subsidiary; (ii) deposits or pledges made in connection with, or to secure payment of, utilities or similar services, workers’ compensation, unemployment insurance, old age pensions or other social
security obligations; (iii) interests or title of a lessor under any leases; (iv) mechanics’, materialmen’s or contractors’ Liens or any similar restriction for amounts not yet due and payable; (v) easements,
rights-of-way, restrictions and other similar charges and encumbrances not interfering with the ordinary conduct of the business of such Person or detracting from the value of the assets of such Person and (vi) Liens created or expressly
permitted by any other Transaction Document. 
  
 “Person” means an individual, a partnership, a limited liability company, a corporation, an association, a joint stock company, a trust, a joint venture, an unincorporated organization, an investment fund, any other
business entity and a governmental entity or any department, agency or political subdivision thereof. 
  
 “Plant Lease” means that certain Lease attached hereto as Exhibit O, dated as of the date hereof, to be effective as of the
Closing Date, by and between AMF Products and AMF Centers. 
  
 “Public Offering” means any offering of the Shares of the Company (or a successor thereto) that are listed on a securities exchange or otherwise publicly offered (which shall include an offering pursuant to Rule 144A and/or
Regulation S under the Securities Act, to professional market investors or similar persons); provided that the following shall not be considered a Public Offering: (i) any issuance of Shares as consideration for a merger or acquisition
and (ii) any issuance of Shares or rights to acquire Shares to employees of the Company or its Subsidiaries as part of an incentive or compensation plan. 
  

 27 

 “Qubica Revolving Loan Balance” means, at any particular time, the aggregate of all
amounts outstanding under any bank overdraft, revolving or invoice discount facility of Qubica Products or any Qubica Subsidiary (provided that, for purposes of this calculation, only 51% of such amounts of Nextia shall be included), provided that
to the extent any Indebtedness not initially incurred pursuant to any such facility is repaid, whether in full or in part, by incurring additional amounts under any such facility (including, without limitation, the Hispabowling loan and other
shareholder loans in the aggregate amount of CDN $800,000), then all such amounts and all additional Indebtedness incurred with respect thereto (including, without limitation, all interest accrued thereon) shall not be included in any determination
of the Qubica Revolving Loan Balance required hereunder, but shall be included as Net Indebtedness for all purposes hereunder (including, without limitation, the determination of Qubica Target Net Indebtedness and Qubica Net Indebtedness).

  
 “Qubica Target Net Indebtedness” means
$7,569,731. 
  
 “Reverse Services Agreement”
means that certain Services Agreement attached hereto as Exhibit P, dated as of the date hereof, to be effective as of the Closing Date, by and among AMF Worldwide and the Company. 
  
 “Securities” means the Shares, CPECS and PECS issued
hereunder or in the future, whether by way of a stock dividend or stock split or in connection with a combination of shares, recapitalization, merger, consolidation or other reorganization. 
  
 “Securities Act” means the Securities Act of 1933, as
amended, or any similar federal law then in force. 
  
 “Securities Exchange Act” means the Securities Exchange Act of 1934, as amended, or any similar federal law then in force. 
  
 “Securities and Exchange Commission” includes any governmental body or agency succeeding to the functions thereof. 
  
 “Services Agreement” means that certain Services Agreement
attached hereto as Exhibit Q, dated as of the date hereof, to be effective as of the Closing Date, by and among AMF Worldwide and AMF Products. 
  
 “Shareholders Agreement” means that certain Shareholders Agreement attached hereto as Exhibit R, dated as of the date hereof, to
be effective as of the Closing Date, by and among AMF Inc., the Company, Qubica and each of its shareholders. 
  
 “Software” means any computer programs (including applications, utilities, middleware, server, database and operating systems software),
including all manuals and other documentation regarding the operation, installation and use of such computer programs, including as applicable and available, systems, programming and user manuals, and the tangible media upon which such programs and
supporting materials relating thereto are recorded or printed, and any contracted-for modifications, enhancements, revisions, corrections, improvements, updates, releases supplements, maintenance work-arounds and know-how related thereto.

  
 “Subsidiary” means, with respect to any
Person, any corporation, limited liability company, partnership, association, or business entity of which (i) if a corporation, a majority of the total voting power of shares of stock entitled (without regard to the occurrence of any
contingency) to vote in the election of directors, managers, or trustees thereof is at the time owned or controlled, directly or 

  

 28 

 
indirectly, by that Person or one or more of the other Subsidiaries of that Person or a combination thereof, or (ii) if a limited liability company,
partnership, association, or other business entity (other than a corporation), a majority of partnership or other similar ownership interest thereof is at the time owned or controlled, directly or indirectly, by that Person or one or more
Subsidiaries of that Person or a combination thereof. For purposes hereof, a Person or Persons shall be deemed to have a majority ownership interest in a limited liability company, partnership, association, or other business entity (other than a
corporation) if such Person or Persons shall be allocated a majority of limited liability company, partnership, association, or other business entity gains or losses or shall be or control any managing director or general partner of such limited
liability company, partnership, association, or other business entity. For purposes hereof, references to a “Subsidiary” of any Person shall be given effect only at such times that such Person has one or more Subsidiaries, and,
unless otherwise indicated, the term “Subsidiary” refers to a Subsidiary of the Company. 
  
 “Supply Agreement” means that certain Supply Agreement attached hereto as Exhibit S, dated as of the date hereof, to be effective
as of the Closing Date, by and among AMF Products, Qubica Products and AMF Centers. 
  
 “Tax” or “Taxes” means any federal, state, county, local, foreign or other income, gross receipts, ad valorem, franchise, profits, sales or use, transfer, registration, excise,
utility, environmental, communications, real or personal property, capital stock, license, payroll, wage or other withholding, employment, social security, severance, stamp, occupation, alternative or add-on minimum, estimated and other taxes of any
kind whatsoever (including, without limitation, deficiencies, penalties, additions to tax, and interest attributable thereto) whether disputed or not. 
  
 “Trademark Agreement” means that certain Trademark Agreement attached hereto as Exhibit T, dated as of the date hereof and
effective as of the Closing Date, by and among AMF Worldwide, the Company, AMF Products and Qubica Products. 
  
 “Transaction Expenses” means all costs and expenses incurred in furtherance of or otherwise in connection with the formation and
organization of the Company or its anticipated post-Closing operations, the negotiation and execution of the Transaction Documents, and the consummation of the transactions contemplated hereby (including, without limitation, the fees and expenses of
legal counsel and all costs and expenses incurred by or on behalf of an Owner or any of its Affiliates or other shareholders in connection with internal restructurings undertaken in anticipation of the transactions contemplated hereby or the release
of Liens on the assets being contributed to the Company hereunder); it being understood and agreed that the payment by Qubica Products in an amount not exceeding 250,000 euro for 51% of the outstanding equity interests of Nextia shall be deemed a
Transaction Expense for purposes of Section 1C(i) hereof. 
  
 “UK Pension Cost Allocation Agreement” means that certain Agreement attached hereto as Exhibit U, dated as of the date hereof, to be effective as of the Closing Date, by and between AMF UK, AMF Worldwide and AMF
Products. 
  
 “UK Services Agreement” means that
certain UK Services Agreement attached hereto as Exhibit V, dated as of the date hereof, to be effective as of the Closing Date, by and among AMF UK, AMF BV and Qubica Products. 
  
 “US GAAP” means United States generally accepted accounting
principles, consistently applied. 
  

 29 

 Section 11. Miscellaneous. 
  
 A. Expenses. Each Owner shall pay for all Transaction Expenses incurred by or on behalf of such Owner or any of its
Subsidiaries or other Affiliates. Notwithstanding the foregoing, if the Closing occurs, the Company shall make the payments required by Section 1C hereof at the Closing and, thereafter, shall promptly reimburse each Owner (so long as
such Owner holds any Securities) and hold such Owner harmless against liability for, any and all documented Transaction Expenses discovered after the Closing that, if known at the Closing, would have been reimbursed to such Owner pursuant to
Section 1C hereof. In addition, after the Closing, the Company shall promptly reimburse each Owner for all documented costs and expenses reasonably incurred by or on behalf of such Owner in connection with (i) any amendments or
waivers (whether or not the same become effective) under or in respect of any of the Transaction Documents, (ii) the interpretation or enforcement of the rights granted under any of the Transaction Documents and (iii) any Company-related
financing or attending Board or other Company-related meetings after the Closing. 
  
 B. Remedies. Each Owner shall have all rights and remedies set forth in this Agreement and the other Transaction Documents and all rights and remedies that such Owner has been granted at any time under any
other agreement or contract and all of the rights that such Owner has under any law. Any Person having any rights under any provision of this Agreement shall be entitled to enforce such rights specifically (without posting a bond or other security),
to recover damages by reason of any breach of any provision of this Agreement and to exercise all other rights granted by law. 
  
 C. Press Releases and Announcements. Neither Owner shall issue a press release or other public announcement regarding this Agreement, the JV
Agreement or any of the Transaction Documents or any of the transactions contemplated hereby or thereby without the prior written consent of the other Owner, except as may be required by applicable law or the rules of any securities exchange on
which such Owner’s or any of its Affiliates’ securities are listed (in which case such Owner shall provide the other Owner with a reasonable opportunity to review and comment on such press release or other public announcement prior to
dissemination). 
  
 D. Consent to Amendments. Except as
otherwise expressly provided herein, the provisions of this Agreement may be amended and the Company may take any action herein prohibited, or omit to perform any act herein required to be performed by it, only if the Company has obtained the
written consent of each Owner. No other course of dealing between the Company and the holder of any Securities or any delay in exercising any rights hereunder or under the JV Agreement or the Articles shall operate as a waiver of any rights of any
such holders. 
  
 E. Further Assurances. Now and at any
time in the future, each Owner shall use its best efforts to take any and all actions as reasonably requested by the Company or the other Owner, including but not limited to completion, execution and delivery of all necessary documentation, in order
to more fully and completely effectuate the terms of this Agreement. 
  
 F. Successors and Assigns. Except as otherwise expressly provided herein, all covenants and agreements contained in this Agreement by or on behalf of any of the parties hereto shall bind and inure to the benefit of their respective
successors and permitted assigns whether so expressed or not. In addition, and whether or not any express assignment has been made, the provisions of this Agreement that are for each Owner’s benefit as an Owner or holder of Securities are also
for the benefit of, and enforceable by, any subsequent holder of such Securities (provided that such transfer is permitted by the terms of the Transaction Documents). Neither this Agreement nor any of the rights, interests or obligations hereunder
may be assigned by any Owner without the prior written consent of the other Owner. 
  

 30 

 G. Severability. Whenever possible, each provision of this Agreement shall be interpreted in such
manner as to be effective and valid under applicable law, but if any provision of this Agreement is held to be invalid, illegal or unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality or
unenforceability will not affect any other provision or any other jurisdiction, but this Agreement will be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable provision had never been contained herein.

  
 H. Counterparts. This Agreement may be executed
simultaneously in two or more counterparts, any one of which need not contain the signatures of more than one party, and all such counterparts taken together shall constitute one and the same Agreement. 
  
 I. Delivery by Facsimile. This Agreement, the agreements referred to
herein, and each other agreement or instrument entered into in connection herewith or therewith or contemplated hereby or thereby, and any amendments hereto or thereto, to the extent signed and delivered by means of a facsimile machine, shall be
treated in all manner and respects as an original agreement or instrument and shall be considered to have the same binding legal effect as if it were the original signed version thereof delivered in person. At the request of any party hereto or to
any such agreement or instrument, each other party hereto or thereto shall reexecute original forms thereof and deliver them to all other parties. No party hereto or to any such agreement or instrument shall raise the use of a facsimile machine to
deliver a signature or the fact that any signature or agreement or instrument was transmitted or communicated through the use of a facsimile machine as a defense to the formation or enforceability of a contract and each such party forever waives any
such defense. 
  
 J. Descriptive Headings; Interpretation.
The descriptive headings of this Agreement are inserted for convenience only and do not constitute any part of this Agreement. The use of the word “including” in this Agreement shall be by way of example rather than by limitation.

  
 K. Governing Law. This Agreement and its execution,
validity and interpretation shall be governed by and construed, in all respects, in accordance with the laws of England, without giving effect to any choice or conflict of law provision or rule (whether of England or any other jurisdiction) that
would cause the application of the laws of any jurisdiction other than England. 
  
 L. Governing Language. This Agreement has been negotiated and executed by each of the parties hereto in English. In the event any translation of this Agreement is prepared for convenience or any other purpose,
the provisions of the English version shall prevail. 
  
 M.
Arbitration. Any dispute, controversy or claim arising out of or relating to this Agreement or the JV Agreement (including, without limitation, any indemnification claim made pursuant to Section 9B hereof) shall be finally
determined by arbitration in accordance with the Rules of Arbitration of the International Chamber of Commerce (the “ICC”). The parties shall select one arbitrator, knowledgeable as to the laws of England, appointed in accordance
with such Rules. The place of the arbitration shall be London, England. The language of the arbitration shall be English. The arbitrators shall have the authority to award all forms of relief determined to be just and equitable; provided,
however, that the arbitrators shall have no authority to award punitive or exemplary damages, or any other monetary damages not measured by the prevailing party’s actual damages. Any arbitral award rendered pursuant to this
provision shall be final and binding on the parties and may be enforced in any court of competent jurisdiction. Before any arbitration pursuant to this provision has been convened, either party may seek from any court of competent jurisdiction
interim or provisional relief. Such interim or provisional relief may subsequently be vacated, continued or modified by the arbitrator on the application of either party. 
  

 31 

 N. Notices. All notices, demands or other communications to be given or delivered under or by
reason of the provisions of this Agreement shall be in writing and shall be deemed to have been given when (i) delivered personally to the recipient, (ii) sent to the recipient by reputable express courier service (charges prepaid),
(iii) mailed to the recipient by certified or registered mail, return receipt requested and postage prepaid, or (iv) telecopied to the recipient (with hard copy sent to the recipient by reputable overnight courier service (charges prepaid)
that same day) if telecopied before 5:00 p.m. local time for the receiving party on a business day, and otherwise on the next business day. Such notices, demands and other communications shall be sent to the Company and the Owners at the address
indicated below: 
  
 If to the Company: 
  
 QubicaAMF Worldwide S.a.R.L. 
 8-10, rue Mathias Hardt 
 L-1717 Luxembourg

 Fax No.: __________________ 
 Attention: _________________ 
  
 AMF Holdings, Inc.

 8100 AMF Drive 
 Mechanicsville, VA 23111 
 Fax No.: (804) 730-0923 
 Attention: General Counsel 
  
 Qubica Lux S.a.R.L. 
 c/o Fiduciare
Continentale 
 16, Corso Allée Marconi 
 L-2120 Luxembourg 
 Fax No.: +352 453147 
 Attention: Luc Braun 
  
 with copies to: 
  
 Code Hennessy & Simmons LLC 
 10
South Wacker Drive, Suite 3175 
 Chicago, IL 60606 
 Fax No.: (312) 876-3854 
 Attention: Thomas Formolo 
                    Douglas Knoch 
  
 Kirkland & Ellis LLP 
 200 E. Randolph Drive 
 Chicago, IL 60601

 Fax No.: (312) 861-2200 
 Attention: Kevin R. Evanich 
                    Christopher J. Greeno 
  
 To AMF Inc.: 
  
 AMF Holdings, Inc. 
 c/o AMF Bowling
Worldwide, Inc. 
 8100 AMF Drive 
 Mechanicsville, VA 23111 
 Fax No.: (804) 730-0923 
 Attention: General Counsel 
  

 32 

 with copies to: 
  
 Code Hennessy & Simmons LLC 
 10 South Wacker Drive, Suite 3175 
 Chicago, IL 60606 
 Fax No.: (312) 876-3854 
 Attention:
Thomas Formolo 
                     Douglas Knoch 
  
 Kirkland & Ellis LLP 
 200 E.
Randolph Drive 
 Chicago, IL 60601 
 Fax No.: (312) 861-2200 
 Attention: Kevin R. Evanich 
                     Christopher J. Greeno 

 
 To Qubica: 
  
 Qubica Lux S.a.R.L. 
 c/o Fiduciare Continentale 
 16, Corso
Allée Marconi 
 L-2120 Luxembourg 
 Fax No.: +352 453147 
 Attention: Luc Braun 
  
 with copies to: 
  
 BS Private Equity S.p.A. 
 Via P. Verri 8

 20121 Milan – Italy 
 Fax
No.: +39 02 76211340 
 Attention: Paolo Baretta 
  
 Pavia e Ansaldo 
 Via del Lauro 7 

20121 Milan – Italy 
 Fax No.: +39 02
85582871 
 Attention: Francesca de Fraja 
                    Michele Mocarelli 
  
 or to such other address or to the attention of such other person as the recipient party has specified by prior written notice to the sending party. 
  
 O. Entire Agreement. This Agreement, those documents expressly
referred to herein and other documents of even date herewith embody the complete agreement and understanding among the parties and supersede and preempt any prior understandings, agreements or representations by or among the parties, written or
oral, that may have related to the subject matter hereof in any way. 
  

 33 

 P. Currency. Except as otherwise explicitly set forth herein, all references to currency in this
Agreement are references to U.S. Dollars (whether or not “US” is specifically referenced herein). In the case of Qubica, for purposes of determining the Qubica Target Net Indebtedness and the amount of any fees and expenses pursuant to
Section 11A, such amounts shall be translated into U.S. Dollars using the average of the exchange rates in effect for the 5 business days immediately preceding the date hereof as published in the Ufficio Italiano Dei Cambi (www.uic.it).

  
 Q. Understanding Among the Owners. Except as otherwise
provided herein, the determination of each Owner to contribute its portion of the Contributed Assets to the Company in exchange for the issuance to such Owner of Securities pursuant to this Agreement has been made by such Owner independent of any
other Owner and independent of any statements or opinions as to the advisability of such contribution or as to the properties, business, prospects or condition (financial or otherwise) of the Company which may have been made or given by any other
Owner or by any agent or employee of any other Owner. In addition, it is acknowledged by each Owner that no Owner has acted as an agent of any other Owner in connection with making its investment hereunder and that no Owner shall be acting as an
agent of any other Owner in connection with monitoring its investment hereunder. It is further acknowledged by Qubica that AMF Inc. has retained Kirkland & Ellis LLP to act as its counsel in connection with the Transaction Documents and
other transactions contemplated hereby and that Kirkland & Ellis LLP has not acted as counsel for any other party in connection herewith and that no other party has the status of a client of Kirkland & Ellis LLP for conflict of
interest or other purposes as a result thereof. 
  
 *    *    *    *    * 
  

 34 

  
 IN WITNESS WHEREOF, the
parties hereto have executed this Contribution Agreement on the date first written above. 
  

			
	QUBICAAMF WORLDWIDE S.À.R.L.
		
	By:	 	/S/    JOHN B.
WALKER        
	 Name:
	 	John B. Walker
	 Title:
	 	Chief Operating Officer
	
	AMF HOLDINGS, INC.
		
	By:	 	/S/    CHRISTOPHER F.
CAESAR        
	 Name:
	 	Christopher F. Caesar
	 Title:
	 	Chief Financial Officer
	
	QUBICA LUX S.À.R.L.
		
	By:	 	/S/    EMANUELE
GOVONI        
	 Name:
	 	Emanuele Govoni
	 Title:
	 	Director
		
	By:	 	/S/    PAOLO
BARRETA        
	 Name:
	 	Paolo Barreta
	 Title:
	 	Director

  
 [AMF/Qubica:
Signature Page to Contribution Agreement] 

  
 LIST OF EXHIBITS 

 

					
			
	Exhibit A	  	-	  	 Terms and Conditions of Series 1 Preferred Equity Certificates

			
	Exhibit B	  	-	  	 Terms and Conditions of Series 1 Convertible Preferred Equity Certificates

			
	Exhibit C	  	-	  	 Terms and Conditions of Series 2 Preferred Equity Certificates

			
	Exhibit D	  	-	  	 Terms and Conditions of Series 2 Convertible Preferred Equity Certificates

			
	Exhibit E	  	-	  	 Demand Promissory Note

			
	Exhibit F	  	-	  	 Revolving Demand Promissory Note

			
	Exhibit G	  	-	  	 Financial Statement Certificate

			
	Exhibit H	  	-	  	 Articles of Incorporation

			
	Exhibit I	  	-	  	 Bell Creek Lease

			
	Exhibit J	  	-	  	 Interim Distributorship Agreement

			
	Exhibit K	  	-	  	 Interim Supply Agreement

			
	Exhibit L	  	-	  	 Joint Venture Agreement

			
	Exhibit M	  	-	  	 Management Agreements

			
	Exhibit N-1	  	-	  	 AMF Net Indebtedness Illustration

			
	Exhibit N-2	  	-	  	 Qubica Net Indebtedness Illustration

			
	Exhibit O	  	-	  	 Plant Lease

			
	Exhibit P	  	-	  	 Reverse Services Agreement

			
	Exhibit Q	  	-	  	 Services Agreement

			
	Exhibit R	  	-	  	 Qubica Shareholders Agreement

			
	Exhibit S	  	-	  	 Supply Agreement

			
	Exhibit T	  	-	  	 Trademark Agreement

			
	Exhibit U	  	-	  	 UK Pension Cost Allocation Agreement

			
	Exhibit V	  	-	  	 UK Services Agreement

  
 LIST OF SCHEDULES 

 
 AMF Intellectual Property Schedule 
  
 AMF Affiliated Transactions Schedule 
  
 AMF Third Party Consents Schedule 
  
 AMF Financial Statements Schedule 
  
 AMF Litigation Schedule 
  
 AMF Tax Schedule 
  
 Governmental Consents Schedule 
  
 Qubica Increases in Compensation Schedule 

 
 Qubica Intellectual Property Schedule 

 
 Qubica Third Party Consents Schedule 

 
 Qubica Affiliated Transactions Schedule

  
 Qubica Financial Statements Schedule

  
 Nextia Financial Statements Schedule

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