Document:

Amended and Restated Employment Agreement

 Exhibit 10.6 
 AMENDED AND RESTATED EXECUTIVE EMPLOYMENT AGREEMENT 
 This Amended and Restated Employment Agreement,
dated as of September 9, 2009 (the “Agreement”), made between Dollarama L.P. and together with any permitted assignee (collectively referred to as the “Employer”) and Stephane Gonthier (the
“Executive”). 
 RECITALS 
 WHEREAS the Employer and the Executive entered into an Executive Employment Agreement on September 2, 2007 (the “Employment Agreement”); 
 WHEREAS the Executive has been and is expected to be an important contributor to the Business (as defined below) and has and will acquire knowledge of
highly confidential information pertaining to the Business and the affairs of the Employer; 
 WHEREAS the Employer wishes to continue to
employ the Executive, for an indeterminate term; 
 WHEREAS the Executive has experience and expertise that qualify him to continue to
provide the direction and leadership required by the Employer and its Affiliates (as defined below); 
 WHEREAS the parties agree that the
Employer, its Affiliates and their successors and assigns require protection of their legitimate business interests; 
 WHEREAS Dollarama
Capital Corporation (“DCC”) and the Executive have entered into an Option Agreement as well as a Subscription Agreement pursuant to which the Executive has, inter alia, signed a counterpart to the Amended and Restated
Securityholders Agreement of DCC, all of which constituted essential considerations for the Executive’s acceptance of the Employer’s offer of employment and for his entering into the Employment Agreement on September 2, 2007; and

 WHEREAS the Executive and the Employer desire to enter into this Agreement setting forth the terms and conditions of employment of the
Executive in his current capacity as Chief Operating Officer and the Executive wishes to accept such continued employment. 
 AGREEMENT

 NOW, THEREFORE, in consideration of the foregoing premises and the mutual promises, terms, provisions and conditions set forth in this
Agreement, the parties hereby agree: 
 1. Preamble. The above preamble forms an integral part of this Agreement. 
 2. Amended and restated Agreement. This Agreement amends, restates and replaces in its entirety the Employment Agreement. 

 3. Term. This Agreement comes into effect on the date hereof and is concluded for an indeterminate
term, unless terminated in accordance with Section 6 (the “Term”). 
 4. Capacity and Performance. 

(a) During the Term, the Executive shall continue to serve the Employer as its Chief Operating Officer with such customary
responsibilities, duties and authority as may from time to time be assigned to him by the Chief Executive Officer of the Employer (the “Chief Executive Officer”) and the Board of Directors of the Employer (the
“Board”). In addition and without further compensation, the Executive shall continue to serve as a director and/or officer of one or more of the Employer’s operating subsidiaries if so elected or appointed from time to time,
provided that the Employer shall provide to the Executive at all times, and pay all of the costs of, directors’ and officers’ liability insurance coverage with respect to such service as required by Section 5 hereof. 
 (b) During the Term, the Executive shall continue to be employed by the Employer on a full-time basis and shall be responsible for store
operations, supply and logistics and human resources as well as perform such duties and responsibilities on behalf of the Employer and its Affiliates as may be designated from time to time by the Chief Executive Officer and the Board. The duties to
be performed by the Executive hereunder shall continue to be performed primarily at the principal office of the Employer in the City of Montreal, Quebec, subject to reasonable travel requirements. 
 (c) During the Term, the Executive shall continue to devote his full business time and his best efforts, business judgment, skill and
knowledge exclusively to the advancement of the Business and interests of the Employer and its Affiliates and to the discharge of his duties and responsibilities hereunder. The Executive shall not engage in any other business activity or serve in
any industry, trade, professional, governmental or academic position during the Term, except as may be approved by the Chief Executive Officer and the Board. The foregoing provisions of this Section 4(c) shall not, however, preclude the
Executive from devoting a reasonable amount of time to engaging in civic, charitable or religious activities, devoting a reasonable amount of time to private investment activities, and/or serving as a director, officer or trustee of family-owned
companies, trusts or foundations, as well as acting as a director of a maximum of three (3) Boards of Directors, as identified in Appendix A and amended, as the case may be, by the Executive in accordance with this Agreement, provided in each
case that such involvement is in compliance with the provisions of Section 9(a) hereof and does not otherwise conflict with the Executive’s responsibilities to the Employer. 
 5. Compensation and Benefits. In addition to the Option Agreement and the Subscription Agreement mentioned in the Recitals, as compensation for
all services performed by the Executive under and during the Term and subject to performance of the Executive’s duties and of the obligations of the Executive to the Employer and its Affiliates, pursuant to this Agreement or otherwise:

 (a) Base Salary. Effective from the Employer’s fiscal year beginning on February 1, 2009, the Employer
shall pay the Executive a base salary at the rate of $340,000 per annum, less all applicable withholdings, payable in accordance with the payroll practices of the Employer for its executives (the “Base Salary”) and the Executive
shall be entitled to an 

  

 -2- 

 
annual merit increase to the extent that other members of senior management are entitled to such annual merit increase, it being understood that the annual
increase may vary from an executive to another. 
 (b) Annual Bonus. With respect to each of the Employer’s fiscal
years that begins on or after February 1, 2009, the Executive will be eligible to receive a bonus (the “Annual Bonus”) with a target of 75% of his Base Salary. The Annual Bonus will be based on the achievement of targets which
shall be determined by the Board. 
 For greater certainty, no notice, pay in lieu of notice, statutory notice, severance pay or any other
payment whatsoever that is given or that ought to have been given under this Agreement or any applicable law in respect of the Executive’s termination of employment will be utilized in determining entitlement to payment of the Annual Bonus.

 (c) Other Benefits. During the Term and subject to any contribution therefor generally required of executives of the
Employer, the Executive shall be entitled to participate in any and all employee benefit plans from time to time in effect for executives of the Employer generally consistent with company practices and as outlined in the Benefits Booklet. Such
participation shall be subject to the terms of the applicable plan documents and generally applicable Employer policies. The Employer may alter, modify, add to or delete its employee benefit plans at any time as it, in its sole judgment, determines
to be appropriate and the whole subject to applicable law. The Executive shall be entitled to four weeks’ paid vacation and reasonable holidays and illness days in accordance with the Employer’s policies as may be established and modified
from time to time. 
 (d) Short-term Disability. Subject to Section 6(b), in the event the Executive becomes
disabled during the Term through any illness, injury, accident or condition of either a physical or psychological nature, and, as a result, is unable to perform all his duties and responsibilities hereunder, the Employer will pay to the Executive
the equivalent of the Executive’s Base Salary for the lesser of: 
 (i) a period of one hundred and eighty consecutive
days; or 
 (ii) until terminated in accordance with Section 6(b)(i) of this Agreement, provided that in the event where
the Employer or its Affiliates then have in effect a Long Term Disability Plan, the Executive shall be paid his Base Salary until he is eligible to be paid long term disability benefits under the Company’s plan. 
 (e) Directors’ and Officers’ Insurance. The Employer shall provide to the Executive the benefit of at all times during
the Term, and pay all of the costs of, the directors’ and officers’ liability insurance policy or policies obtained by the Employer, which shall cover the Executive for his service hereunder, whether as director, and/or officer of the
Employer or as director and/or officer of any of the Employer’s Affiliates. 
 (f) Business Expenses. The Employer
shall pay or reimburse the Executive for all reasonable, customary and necessary business expenses incurred or paid by the Executive in the performance of his duties and responsibilities hereunder in accordance with the Employer’s expense
reimbursement policy. 
  

 -3- 

 6. Termination of Employment and Severance Benefits. The Executive’s employment hereunder
shall terminate under the following circumstances: 
 (a) Death. In the event of the Executive’s death, the
Executive’s employment hereunder shall immediately and automatically terminate. In such event, the Employer shall pay to the Executive’s designated beneficiary or, if no beneficiary has been designated by the Executive, to his estate,
(i) the Base Salary earned but not paid through the date of termination, and (ii) any business expenses incurred by the Executive but not reimbursed on the date of termination, and (iii) any bonus compensation (other than Annual Bonus
with respect to the fiscal year in which the date of termination occurs) awarded but unpaid on the date of termination (collectively, “Final Compensation”); and (iv) the portion of the Annual Bonus earned for the fiscal year in
which the date of termination occurs, prorated for the time of the Executive’s employment during the relevant fiscal year (the “Prorated Bonus”), it being understood that the Prorated Bonus will be paid following the end of the
relevant fiscal year or such other time as per the Employer’s normal practice. 
 (b) Disability 
 (i) The Employer may terminate the Executive’s employment hereunder, upon written notice to the Executive, in the event that the
Executive becomes disabled during his employment hereunder through any illness, injury, accident or condition of either a physical or psychological nature and, as a result, is unable to perform substantially all of his duties and responsibilities
hereunder, with or without reasonable accommodation, for ninety (90) days during any period of one hundred eighty (180) consecutive calendar days. In the event of such termination, (a) if the Employer or its Affiliates then have in
effect a Long Term Disability Plan, the Employer shall have no further obligation to the Executive, other than for payment of Final Compensation and any Prorated Bonus and (b) if neither the Employer nor its Affiliates have in effect a Long
Term Disability Plan, the Employer shall have no further obligation to the Executive, other than for payment of amounts described in Section 6(d). 
 (ii) The Board may designate another employee to act in the Executive’s place during any period of the Executive’s disability. While receiving disability income payments under Employer’s disability
income plan, the Executive shall continue to participate in Employer benefit plans, if any, in accordance with the terms of such plans, until the termination of his employment. 
 (c) By the Employer for Cause. The Employer may terminate the Executive’s employment hereunder immediately for Cause at any
time upon written notice to the Executive setting forth in reasonable detail the nature of such Cause. 
 Upon the giving of notice of
termination of the Executive’s employment hereunder for Cause, the Employer shall have no further obligation to the Executive, other than for Final Compensation and any requirement of applicable law. 
 (d) By the Employer Other than for Cause. The Employer may terminate the Executive’s employment at any time, other than for
Cause, Death and Disability by (a) paying to the Executive Final Compensation and any Prorated Bonus; and (b) provided the 

  

 -4- 

 
Executive continues to fulfill the remainder of his contractual obligations towards the Employer, by providing the Executive with severance pay in lieu
of notice representing the Executive’s Base Salary for twenty-four months, payable by way of salary continuance in accordance with the Employer’s payroll practices at the date of termination or in a lump sum payment, at the sole discretion
of the Employer. 
 Any obligation of the Employer to the Executive hereunder is conditional, however, upon the Executive signing a release,
reasonably acceptable to the Employer, of any and all claims related to the employment of the Executive or the termination thereof. 
 (e) By the Executive for Constructive Termination. The Executive may terminate his employment hereunder immediately for Constructive Termination at any time upon written notice to the Employer setting forth in reasonable detail the
nature of the Constructive Termination. In the event of such termination, the Employer shall (i) pay the Executive’s Final Compensation and any Prorated Bonus, and (ii) conditional upon the Executive continuing to fulfill his
contractual obligations toward the Employer, by way of salary continuance, in accordance with the Employer’s payroll practices at the time of Constructive Termination, the Executive’s Base Salary for twenty-four months following
termination or an amount representing twenty-four months of the Executive’s Base Salary, in a lump sum payment, at the sole discretion of the Employer. 
 Any obligation of the Employer to the Executive hereunder is conditional, however, upon the Executive signing a release, reasonably acceptable to the Employer, of any and all claims related to the employment of the
Executive or the termination thereof. 
 (f) By the Executive other than for Constructive Termination. The Executive
may terminate his employment hereunder at any time upon sixty days written notice to the Employer. In the event of termination of the Executive pursuant to Section 6(f), the Board may elect to waive the period of notice, or any portion thereof.
The Employer shall have no further obligation to the Executive, other than for Final Compensation due to him. 
 7. Effect of
Termination. The provisions of this Section 7 shall apply to any termination of employment in accordance with Section 3 or Section 6. 
 (a) Payments or provision of benefits by the Employer pursuant to Section 6 shall constitute the entire obligation of the Employer to the Executive. 
 (b) Provisions of this Agreement shall survive any termination if so provided herein or if necessary or desirable to accomplish the
purposes of other surviving provisions, including without limitation the obligations of the Executive under Sections 8, 9 and 10 hereof. The obligation of the Employer to make payments to the Executive under Section 6(d) or 6(e) hereof is
expressly conditioned upon the Executive’s continued full performance of obligations under Sections 8, 9 and 10 hereof. The Executive recognizes that, except as expressly provided in Section 6(d) or 6(e), no compensation is earned
after termination of employment. 
  

 -5- 

 8. Confidential Information. 
 (a) The Executive acknowledges that the Employer, its Affiliates and their predecessors developed Confidential Information and that the
Employer and its Affiliates continually develop Confidential Information, that the Executive may develop Confidential Information for the Employer and its Affiliates, that the Executive may learn of Confidential Information during the course of
employment. The Executive will comply with the policies and procedures of the Employer and its Affiliates for protecting Confidential Information and shall not disclose to any Person or use, other than as required by applicable law or for the proper
performance of his duties and responsibilities to the Employer and its Affiliates, any Confidential Information obtained by the Executive incident to his employment or other association with the Employer and its Affiliates, whether prior to, at the
time of, or subsequent to any assignment of this Agreement pursuant to Section 17. The Executive understands that this restriction shall continue to apply after his employment terminates, regardless of the reason for such termination.

 (b) All documents, records, tapes and other media of every kind and description relating to the Business, present or
otherwise, of the Employer or its Affiliates and any copies, in whole or in part, thereof (the “Documents”), whether or not prepared by the Executive, shall be the sole and exclusive property of the Employer and its Affiliates. The
Executive shall safeguard all Documents and shall surrender to the Employer at the time his employment terminates, or at such earlier time or times as the Board or its designee may specify, all Documents then in the Executive’s possession or
control. 
 9. Restricted Activities. The Executive agrees that some restrictions on his activities during and after his employment
are necessary to protect the goodwill, Confidential Information and other legitimate interests of the Employer and its Affiliates: 
 (a) Non-Competition. While the Executive is employed by the Employer and for a period of twenty-four months after his employment terminates for any reason, the Executive shall not, directly or indirectly, engage in any business
competitive with the Business within the Territory. However, no ownership of less than five percent of the outstanding stock of any publicly traded corporation will be deemed to be in violation of this Section 9(a) solely by reason thereof.

 (b) Loyalty. The Executive agrees that, during his employment with the Employer, he will not undertake any outside
activity, whether or not competitive with the Business, the Employer or its Affiliates, that could reasonably give rise to a conflict of interest or otherwise interfere with his duties and obligations to the Employer or any of its Affiliates.

 (c) Non-Solicitation of Employees. The Executive further agrees that while he is employed by the Employer and during
a twenty-four month period after his employment terminates for any reason, the Executive shall not, directly or indirectly, recruit, offer employment, employ, engage as a consultant, lure or entice away, or in any other manner persuade or attempt to
persuade any Person who is an employee of Aris Import Inc. (hereinafter “Aris”), any Person employed by the Employer or its Affiliate as a store manager or in any other position of equal or greater responsibility, or any Person
working in the corporate office of the Employer or its Affiliate, to leave the employ of the Employer, its Affiliate or Aris, as the case may be. 
  

 -6- 

 (d) Non-Solicitation of Suppliers. The Executive agrees that while he is employed
by the Employer and during a twenty-four month period after his employment terminates for any reason, the Executive shall not lure, entice away, or in any other manner persuade or attempt to persuade any Supplier to cease or materially reduce its
business with the Employer or any of its Affiliates. 
 10. Assignment of Rights to Intellectual Property. 
 (a) The Executive shall promptly and fully disclose all Intellectual Property to the Employer. The Executive hereby assigns and agrees to
assign to the Employer (or as otherwise directed by the Employer) the Executive’s full right, title and interest in and to all Intellectual Property. The Executive agrees to execute any and all applications for domestic and foreign patents,
copyrights or other proprietary rights and to do such other acts (including, without limitation, the execution and delivery of instruments of further assurance or confirmation) requested by the Employer to assign the Intellectual Property to the
Employer and to permit the Employer to enforce any patents, copyrights or other proprietary rights to the Intellectual Property. The Executive will not charge the Employer for time spent in complying with these obligations. All copyrightable works
that the Executive creates shall be considered work made in the course of employment. 
 (b) If the Executive incorporates
into any of the Intellectual Property any Intellectual Property made by the Executive prior to the Executive’s employment with the Employer, which belongs to the Executive and which is not assigned to the Employer hereunder, the Executive
hereby grants the Employer a perpetual, exclusive, world-wide license to make, use, sell, improve, execute, reproduce, display, distribute, lease, manipulate in any manner, create derivative works based upon, sublicense, or otherwise commercially
exploit or utilize the Prior Invention(s) included in the Intellectual Property, including all Improvements thereto, and all Intellectual Property therein, in any manner that the Employer sees fit in its sole and absolute discretion. 
 (c) To the extent that the Executive cannot assign and transfer any of the Executive’s full right, title, and interest in the
Intellectual Property, then the Executive hereby grants the Employer a perpetual, exclusive, world-wide license to make, use, sell, improve, execute, reproduce, display, distribute, lease, manipulate in any manner, create derivative works based
upon, sublicense, or otherwise commercially exploit or utilize such Intellectual Property, including all Improvements thereto, and all Intellectual Property therein, in any manner that the Employer sees fit in its sole and absolute discretion.

 (d) The Executive further agrees that the Executive will assign, deliver and communicate to the Employer any know-how,
facts and materials arising from or relating to said Intellectual Property including without limitation: (i) all simulations, prototypes, and other embodiments of the Intellectual Property; (ii) all drawings, blueprints, calculations,
research plans and results, lab notes, workbooks and other records and written materials that relate to the Intellectual Property or that embody or record any know-how pertaining to the Intellectual Property; (iii) all files, documents and
communications pertaining to the Intellectual Property; and (iv) evidence for patent interference purposes or for other legal proceedings whenever requested. 
  

 -7- 

 (e) The Executive further agrees to waive any and all moral rights it may have in respect
of any work which is the subject of copyright. 
 (f) The Executive shall not directly or indirectly contest the
Employer’s ownership in or validity of the Intellectual Property, or the validity of any applications or registrations therefor, either during the term of this Agreement or, at any time thereafter, nor shall the Executive voluntarily assist in
any action taken by any third party, an object of which action is to contest said ownership or validity. 
 11. Enforcement of
Covenants. The Executive acknowledges that he has carefully read and considered all the terms and conditions of this Agreement, including the restraints imposed upon him pursuant to Sections 8, 9 and 10 hereof. The Executive agrees that said
restraints are necessary for the reasonable and proper protection of the Employer and its Affiliates and that each and every one of the restraints is reasonable in respect to subject matter, length of time and geographic area. The Executive further
acknowledges that, were he to breach any of the covenants contained in Sections 8, 9 and 10 hereof, the damage to the Employer would be irreparable. The Executive therefore agrees that the Employer, in addition to any other remedies available to it,
shall be entitled to preliminary and permanent injunctive relief against any breach or threatened breach by the Executive of any of said covenants, without having to post bond. 
 12. Definitions. Words or phrases which are initially capitalized or are within quotation marks shall have the meanings provided in this Section
and as provided elsewhere herein. For purposes of this Agreement, the following definitions apply: 
 (a)
“Affiliates” means, with respect to any specified Person, any other Person that directly or indirectly controls, is controlled by, or is under common control with, such specified Person. For purposes of this definition,
“control”, when used in connection with any specified Person, means the power to direct the management or policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise, and
the terms “controls”, “controlling” and “controlled” have correlative meanings. 
 (b)
“Business” means the Business as conducted by the Employer and its Affiliates on the date hereof, as well as any business of significance to the Employer or its Affiliates as conducted by the Employer and its Affiliates at any time
during the employment of the Executive and at the time of termination of the Executive’s employment. 
 (c)
“Cause” means the following events or conditions, as determined by the Board and the Chief Executive Officer, in their reasonable judgment: (i) the refusal or failure to perform (other than by reason of disability) or material
negligence in the performance of the Executive’s duties and responsibilities to the Employer or any of its Affiliates, or refusal or failure to follow or carry out any reasonable direction of the Board and of the Chief Executive Officer and the
continuance of such refusal, failure or negligence for a period of fifteen days after notice to the Executive; (ii) the commission of fraud, embezzlement or theft by the Executive; (iii) the conviction of the Executive of, or plea by the
Executive of nolo contendere to, any felony or any other crime involving dishonesty or moral turpitude; and (iv) any other conduct that involves a breach of fiduciary obligation on the part of the Executive or otherwise could
reasonably be expected to have material adverse effect upon the Business. 
  

 -8- 

 (d) “Confidential Information” means any and all information of the
Employer, Aris and their Affiliates, that is not generally available to the public. Confidential Information also includes any information received by the Employer, Aris and their Affiliates, whether prior to, at the time of, or subsequent to any
assignment of this Agreement pursuant to Section 17, from any Person with any understanding, express or implied, that it will not be disclosed. Confidential Information does not include information that enters the public domain, other than
through a breach by the Executive or any other Person of an obligation of confidentiality in favor of the Employer, Aris and their Affiliates. 
 (e) “Constructive Termination” means the following events or conditions: (i) the Employer’s material breach of this Agreement including, without limitation, any material change in the role,
responsibilities, duties or reporting detailed in Sections 4(a) and 4(b) as well as the failure of the Employer to pay Base Salary or, subject to achievement of targets determined by the Board in accordance with Section 5(b), Annual Bonus or
provide any material benefits that the Employer is obligated to pay or provide pursuant hereto, and the continuance of such breach for a period of fifteen days after written notice to the Employer; and (ii) if the Employer requires that the
Executive move involuntarily from the Montreal metropolitan area in order to retain employment with the Employer. 
 (f)
“Improvements” means modifications, enhancements, translations, derivative works, updates, upgrades, new versions or new releases, or other improvements to the Intellectual Property. 
 (g) “Intellectual Property” means inventions, discoveries, developments, methods, processes, compositions, works,
concepts and ideas (whether or not patentable or copyrightable or constituting trade secrets) conceived, made, created, developed or reduced to practice by the Executive (whether alone or with others, whether or not during normal business hours or
on or off Employer premises) during the Executive’s employment and during the period of three months immediately following termination of his/her employment that relate to either the Business or any prospective activity of the Employer or any
of its Affiliates or that make use of Confidential Information or any of the equipment or facilities of the Employer or any of its Affiliates and any Intellectual Property (including without limitation copyright) related to the foregoing.

 (h) “Person” means an individual, a corporation, a limited liability company, an association, a
partnership, an estate, a trust and any other entity or organization, other than the Employer or any of its Affiliates. 
 (i)
“Supplier” means any and all persons, located anywhere in the world, having supplied goods to the Employer, Aris and their Affiliates in connection with the Business; and any and all persons located anywhere in the world retained or
utilized by the Employer, Aris and their Affiliates to supply goods in connection with the Business, in both cases, at any time during the five-year period preceding the termination of Executive’s employment. 
 (j) “Territory” means Canada. 
  

 -9- 

 13. Entire agreement. This Agreement constitutes the entire agreement between the parties on the
subject matter thereof and replaces any and all other representations, understandings, negotiations and previous agreements, written or oral, expressed or implied. 
 14. Conflicting Agreements. The Executive hereby represents and warrants that the execution of this Agreement and the performance of his obligations hereunder will not breach or be in conflict with any other
agreement to which the Executive is a party or is bound and that the Executive is not now subject to any covenants against competition or similar covenants or any court order or other legal obligation that would affect the performance of his
obligations hereunder. The Executive will not disclose to or use on behalf of the Employer any proprietary information of a third party without such party’s consent. 
 15. Withholding. All payments made by the Employer under this Agreement shall be reduced by any tax or other amounts required to be withheld by the Employer under applicable law. 
 16. Currency. All and any amount of money referred to or mentioned in this Agreement shall be in Canadian Dollars. 
 17. Assignment. This Agreement shall be assigned without any consent or formality required to any Person who acquires the Business of Employer and
upon such assignment, such Person shall be considered as and be deemed to be the “Employer” for purposes of this Agreement. Once this Agreement is assigned to a Person which purchases the Business pursuant to this Section 17, it is
understood that the Executive will report to the board of directors of such Person, and in the event such Person is a limited partnership, the Executive will report to the board of directors of the general partner of such limited partnership and to
its Chief Executive Officer. Otherwise, neither the Employer nor the Executive may make any assignment of this Agreement or any interest herein, by operation of law or otherwise, without the prior written consent of the other; provided, however,
that the Employer may assign its rights and obligations under this Agreement without the consent of the Executive in the event that the Employer may hereafter affect a reorganization, consolidate with, or merge into, any Person or transfer all or
substantially all of its properties or assets to any Person. This Agreement shall inure to the benefit of and be binding upon the Employer and the Executive, their respective successors, executors, administrators, heirs and permitted assigns.

 18. Severability. In the event that any provision hereof would, under applicable law, be invalid or unenforceable in any respect,
such provision shall be construed by modifying or limiting it so as to be valid and enforceable to the maximum extent compatible with, and possible under, applicable law. The provisions hereof are severable, and in the event any provision hereof
should be held invalid or unenforceable in any respect, it shall not invalidate, render unenforceable or otherwise affect any other provision hereof. 
 19. Waiver. No waiver of any provision hereof shall be effective unless made in writing and signed by the waiving party. The failure of either party to require the performance of any term or obligation of this
Agreement, or the waiver by either party of any breach of this Agreement, shall not prevent any subsequent enforcement of such term or obligation or be deemed a waiver of any subsequent breach. 
  

 -10- 

 20. Notices. Any and all notices, requests, demands and other communications provided for by this
Agreement shall be in writing and shall be effective when delivered in person or deposited in the Canadian or American mail, postage prepaid, registered or certified, and addressed to the Executive at his last known address on the books of the
Employer or, in the case of the Employer, at its principal place of business, attention of the chief legal officer, or to such other address as either party may specify by notice to the other actually received. 
 21. Amendment. This Agreement may be amended or modified only by a written instrument signed by the Executive and by an expressly authorized
representative of the Employer. 
 22. Headings. The headings and captions in this Agreement are for convenience only and in no way
define or describe the scope or content of any provision of this Agreement. 
 23. Counterparts. This Agreement may be executed in two
or more counterparts, each of which shall be an original and all of which together shall constitute one and the same instrument. 
 24.
Governing Law; Consent to Jurisdiction and Venue. 
 (a) This Agreement shall be governed by, and construed in
accordance with, the laws of the Province of Québec and the federal laws of Canada applicable therein. 
 (b) All
actions and proceedings arising out of or relating to this Agreement shall be heard and determined by the courts of the Province of Québec, and the Parties to this Agreement hereby irrevocably submit to the exclusive jurisdiction of such
courts in any such action or proceeding and irrevocably waive the defence of an inconvenient forum to the maintenance of any such action or proceeding. The Parties hereto hereby consent to service of process by mail (in accordance with
Section 20 or any other manner permitted by law.) 
 25. Language. The Parties hereby acknowledge that they have expressly
required this Agreement and any documents ancillary hereto be drafted in the English language only. Les parties reconnaissent par les présentes avoir expressément exigé que cette entente et tout document y afférent
soient rédigés en langue anglaise seulement. 
 [Remainder of page intentionally left blank] 
  

 -11- 

 Employment Agreement 
 IN WITNESS WHEREOF, this Agreement has been executed as a sealed instrument by the Employer, by its duly authorized representative, and by the Executive, as of the date first above written. 
  

							
	THE EXECUTIVE	 		 	DOLLARAMA L.P., acting and represented by Dollarama GP Inc., its general partner
				
	 /s/ Stephane Gonthier
	 		 	By:	 	 /s/ Nicholas Nomicos

	Stephane Gonthier	 		 	Name:	 	Nicholas Nomicos
		 		 	Title:	 	DirectorRegistration Rights Agreement

 Exhibit 4.5 
 Execution Copy 
  
  
  
 REGISTRATION RIGHTS AGREEMENT 
 Dated as of September 29, 2008 
 Among

 SUNGARD DATA SYSTEMS INC., 
 THE GUARANTORS LISTED ON SCHEDULE I HERETO 
 and 
 GOLDMAN, SACHS & CO. 
 As Representative for the Initial Purchasers 
 10.625% Senior Notes due 2015 
  
  
  

 REGISTRATION RIGHTS AGREEMENT 
 This Registration Rights Agreement (this “Agreement”) is dated as of September 29, 2008, among SUNGARD DATA SYSTEMS INC., a
Delaware corporation (the “Company”), the guarantors listed on Schedule I hereto (the “Guarantors”) and GOLDMAN, SACHS & CO., as the representative (the “Representative”) of the
several initial purchasers (the “Initial Purchasers”) named on Schedule I to the Purchase Agreement (as defined below). 
 This Agreement is entered into in connection with the Purchase Agreement, dated as of September 19, 2008 (the “Purchase Agreement”), by and among the Company, the Guarantors and the Initial Purchasers, which provides
for, among other things, the sale by the Company to the Initial Purchasers of $500,000,000 aggregate principal amount of the Company’s 10.625% Senior Notes due 2015 (the “Notes”). The Notes are issued under an indenture, dated
as of the date hereof (as amended or supplemented from time to time, the “Indenture”), among the Company, the Guarantors and The Bank of New York Mellon, as trustee (the “Trustee”). Pursuant to the Purchase
Agreement and the Indenture, the Guarantors are required to guarantee (collectively, the “Guarantees”) the Company’s obligations under the Notes and the Indenture. References to the “Securities” shall mean the
Notes and the Guarantees. In order to induce the Initial Purchasers (including the Market-Maker) to enter into the Purchase Agreement, the Company has agreed to provide the registration rights set forth in this Agreement for the benefit of the
Initial Purchasers and any subsequent holder or holders of the Securities. The execution and delivery of this Agreement is a condition to the Initial Purchasers’ obligations under the Purchase Agreement. 
 The parties hereby agree as follows: 
  

	 	1.	Definitions 

 As used in this
Agreement, the following terms shall have the following meanings: 
 Additional Interest: See Section 5(a) hereof.

 Advice: See the last paragraph of Section 6 hereof. 
 Agreement: See the introductory paragraphs hereto. 
 Applicable Period: See Section 2(b) hereof. 
 Business Day: Shall have the meaning ascribed to such term in Rule 14d-1 under the Exchange Act. 
 Company: See the introductory paragraphs hereto. 
 Effectiveness Date: With respect to any Shelf Registration Statement, the 90th day after the Filing Date with respect thereto; provided, however, that if the Effectiveness 

 
Date would otherwise fall on a day that is not a Business Day, then the Effectiveness Date shall be the next succeeding Business Day. 
 Effectiveness Period: See Section 3(a) hereof. 
 Event Date: See Section 5(b) hereof. 
 Exchange Act: The Securities Exchange Act of 1934, as amended, and the rules and regulations of the SEC promulgated thereunder.

 Exchange Notes: See Section 2(a) hereof. 
 Exchange Offer: See Section 2(a) hereof. 
 Exchange Offer Registration Statement: See Section 2(a) hereof. 
 Exchange Securities: See Section 2(a) hereof. 
 Existing Notes: The Company’s outstanding $250.0 million 3.75% senior secured notes due 2009, $250.0 million 4.875% senior
secured notes due 2014, $1,600.0 million 9.125% senior notes due 2013 and $1,000.0 million 10.25% senior subordinated notes due 2015. 
 Filing Date: The 90th day after the delivery
of a Shelf Notice as required pursuant to Section 2(c) hereof; provided, however, that if the Filing Date would otherwise fall on a day that is not a Business Day, then the Filing Date shall be the next succeeding Business Day.

 FINRA: See Section 6(r) hereof. 
 Guarantees: See the introductory paragraphs hereto. 
 Guarantors: See the introductory paragraphs hereto. 
 Holder: Any holder of a Registrable Security or Registrable Securities. 
 Indenture: See the introductory paragraphs hereto. 
 Information: See Section 6(n) hereof. 
 Initial Purchasers: See the introductory paragraphs hereto. 
 Initial Shelf Registration: See Section 3(a) hereof. 
 Inspectors: See Section 6(n) hereof. 
 Issue Date: September 29, 2008, the date of original issuance of the Notes. 
 Market-Maker: See Section 4(a) hereof. 
  

 2 

 Market-Making Registration: See Section 4(a)(i) hereof. 
 Market-Making Registration Statement: See Section 4(a)(i) hereof. 
 New Guarantees: See Section 2(a) hereof. 
 Notes: See the introductory paragraphs hereto. 
 Participant: See Section 8(a) hereof. 
 Participating Broker-Dealer: See Section 2(b) hereof. 
 Person: An individual, trustee, corporation, partnership, limited liability company, joint stock company, trust, unincorporated
association, union, business association, firm or other legal entity. 
 Private Exchange: See Section 2(b)
hereof. 
 Private Exchange Notes: See Section 2(b) hereof. 
 Prospectus: The prospectus included in any Registration Statement (including, without limitation, any prospectus subject to
completion and a prospectus that includes any information previously omitted from a prospectus filed as part of an effective registration statement in reliance upon Rule 430A and Rule 430C under the Securities Act), as amended or supplemented by any
prospectus supplement, and all other amendments and supplements to the Prospectus, including post-effective amendments, and all material incorporated by reference or deemed to be incorporated by reference in such Prospectus. 
 Purchase Agreement: See the introductory paragraphs hereof. 
 Records: See Section 6(n) hereof. 
 Registrable Securities: Each Security upon its original issuance and at all times subsequent thereto, each Exchange Security as to
which Section 2(c)(iv) hereof is applicable upon original issuance and at all times subsequent thereto and each Private Exchange Note (and the related Guarantees) upon original issuance thereof and at all times subsequent thereto, until, in
each case, the earliest to occur of (i) a Registration Statement (other than, with respect to any Exchange Securities as to which Section 2(c)(iv) hereof is applicable, the Exchange Offer Registration Statement) covering such Security,
Exchange Security or Private Exchange Note (and the related Guarantees) has been declared effective by the SEC and such Security, Exchange Security or such Private Exchange Note (and the related Guarantees), as the case may be, has been disposed of
in accordance with such effective Registration Statement, (ii) such Security has been exchanged pursuant to the Exchange Offer for an Exchange Security or Exchange Securities that may be resold without restriction under state and federal
securities laws or (iii) such Security, Exchange Security or Private Exchange Note (and the related Guarantees), as the case may be, ceases to be outstanding for purposes of the Indenture. 
  

 3 

 Registration Statement: Any registration statement of the Company that covers any
of the Securities, the Exchange Securities or the Private Exchange Notes (and the related Guarantees) filed with the SEC under the Securities Act, including, in each case, the Prospectus, amendments and supplements to such registration statement,
including post-effective amendments, all exhibits, and all material incorporated by reference or deemed to be incorporated by reference in such registration statement. 
 Rule 144: Rule 144 under the Securities Act. 
 Rule 144A: Rule 144A under the Securities Act. 
 Rule 405: Rule 405 under the Securities Act. 
 Rule 415: Rule 415 under the Securities Act. 
 Rule 424: Rule 424 under the Securities Act. 
 SEC: The U.S. Securities and Exchange Commission. 
 Securities: See the introductory paragraphs hereto. 
 Securities Act: The Securities Act of 1933, as amended, and the rules and regulations of the SEC promulgated thereunder.

 Shelf Notice: See Section 2(c) hereof. 
 Shelf Registration: See Section 3(b) hereof. 
 Shelf Registration Statement: Any Registration Statement relating to a Shelf Registration. 
 Shelf Suspension Period: See Section 3(a) hereof. 
 Subsequent Shelf Registration: See Section 3(b) hereof. 
 TIA: The Trust Indenture Act of 1939, as amended. 
 Trustee: The trustee under the Indenture and the trustee under any indenture (if different) governing the Exchange Securities and
Private Exchange Notes (and the related Guarantees). 
 Underwritten registration or underwritten offering: A
registration in which securities of the Company is sold to an underwriter for reoffering to the public. 
 Except as otherwise
specifically provided, all references in this Agreement to acts, laws, statutes, rules, regulations, releases, forms, no-action letters and other regulatory requirements (collectively, “Regulatory Requirements”) shall be deemed to
refer also to any amendments thereto and all subsequent Regulatory Requirements 

  

 4 

 
adopted as a replacement thereto having substantially the same effect therewith; provided that Rule 144 shall not be deemed to amend or replace Rule
144A. 
  

	 	2.	Exchange Offer 

 (a) Unless the Exchange Offer would violate applicable law or any applicable interpretation of the staff of the SEC, the Company and the Guarantors shall use reasonable best efforts to file with the SEC a Registration Statement (the
“Exchange Offer Registration Statement”) on an appropriate registration form with respect to a registered offer (the “Exchange Offer”) to exchange any and all of the Registrable Securities for a like aggregate
principal amount of debt securities of the Company (the “Exchange Notes”), guaranteed, to the extent applicable, on an unsecured senior basis by the Guarantors (the “New Guarantees” and, together with the Exchange
Notes, the “Exchange Securities”), that are identical in all material respects to the Notes except that (i) the Exchange Notes shall contain no restrictive legend thereon, (ii) interest thereon shall accrue from the last
date on which interest was paid on such Notes or, if no such interest has been paid, from the Issue Date and (iii) which are entitled to the benefits of the Indenture or a trust indenture which is identical in all material respects to the
Indenture (other than such changes to the Indenture or any such identical trust indenture as are necessary to comply with the TIA) and which, in either case, has been qualified under the TIA. The Exchange Offer shall comply with all applicable
tender offer rules and regulations under the Exchange Act and other applicable laws. The Company and the Guarantors shall use reasonable best efforts to (x) prepare and file with the SEC the Exchange Offer Registration Statement with respect to
the Exchange Offer; (y) keep the Exchange Offer open for at least 20 Business Days (or longer if required by applicable law) after the date that notice of the Exchange Offer is mailed to Holders; and (z) consummate the Exchange Offer on or
prior to the 360th day following the Issue Date. 
 Each Holder (including, without limitation, each Participating Broker-Dealer) that participates in the Exchange Offer, as a condition to
participation in the Exchange Offer, will be required to represent to the Company in writing (which may be contained in the applicable letter of transmittal) that: (i) any Exchange Securities acquired in exchange for Registrable Securities
tendered are being acquired in the ordinary course of business of the Person receiving such Exchange Securities, whether or not such recipient is such Holder itself; (ii) at the time of the commencement or consummation of the Exchange Offer
neither such Holder nor, to the actual knowledge of such Holder, any other Person receiving Exchange Securities from such Holder has an arrangement or understanding with any Person to participate in the distribution (within the meaning of the
Securities Act) of the Exchange Securities in violation of the provisions of the Securities Act; (iii) neither the Holder nor, to the actual knowledge of such Holder, any other Person receiving Exchange Securities from such Holder is an
“affiliate” (as defined in Rule 405) of the Company or, if it is an affiliate of the Company, it will comply with the registration and prospectus delivery requirements of the Securities Act to the extent applicable and will provide
information to be included in the Shelf Registration Statement in accordance with Section 6 hereof in order to have their Securities included in the Shelf Registration Statement and benefit from the provisions regarding Additional Interest in
Section 5 hereof; (iv) if such Holder is not a broker-dealer, neither such Holder 

  

 5 

 
nor, to the actual knowledge of such Holder, any other Person receiving Exchange Securities from such Holder is engaging in or intends to engage in a
distribution of the Exchange Securities; and (v) if such Holder is a Participating Broker-Dealer, such Holder has acquired the Registrable Securities for its own account in exchange for Securities that were acquired as a result of market-making
activities or other trading activities and that it will comply with the applicable provisions of the Securities Act (including, but not limited to, the prospectus delivery requirements thereunder). 
 Upon consummation of the Exchange Offer in accordance with this Section 2, the provisions of this Agreement shall continue to apply,
mutatis mutandis, solely with respect to Registrable Securities that are Private Exchange Notes (and the related Guarantees), Exchange Securities as to which Section 2(c)(iv) is applicable and Exchange Securities held by the Market-Maker
and Participating Broker-Dealers, and the Company shall have no further obligation to register Registrable Securities (other than Private Exchange Notes (and the related Guarantees) and Exchange Securities as to which clause 2(c)(iv) hereof applies)
pursuant to Section 3 hereof. 
 No securities other than the Exchange Securities shall be included in the Exchange Offer
Registration Statement. 
 (b) The Company shall include within the Prospectus contained in the Exchange Offer Registration
Statement a section entitled “Plan of Distribution,” which shall contain a summary statement of the positions taken or policies made by the staff of the SEC with respect to the potential “underwriter” status of any broker-dealer
that is the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act) of Exchange Notes received by such broker-dealer in the Exchange Offer (a “Participating Broker-Dealer”), whether such positions or policies
have been publicly disseminated by the staff of the SEC or such positions or policies represent the prevailing views of the staff of the SEC. Such “Plan of Distribution” section shall also expressly permit, to the extent permitted by
applicable policies and regulations of the SEC, the use of the Prospectus by all Participating Broker-Dealers, and include a statement describing the means by which Participating Broker-Dealers may resell the Exchange Securities in compliance with
the Securities Act. 
 The Company and the Guarantors shall use reasonable best efforts to keep the Exchange Offer
Registration Statement effective and to amend and supplement the Prospectus contained therein in order to permit such Prospectus to be lawfully delivered by all Persons subject to the prospectus delivery requirements of the Securities Act for such
period of time as is necessary to comply with applicable law in connection with any resale of the Exchange Securities; provided, however, that such period shall not be required to exceed 90 days, such longer period if extended pursuant
to the last paragraph of Section 6 hereof (the “Applicable Period”). 
 If, prior to consummation of the
Exchange Offer, the Initial Purchasers hold any Notes acquired by them that have the status of an unsold allotment in the initial distribution, the Company, upon the request of the Initial Purchasers, shall simultaneously with the delivery of the
Exchange Notes issue and deliver to the Initial 

  

 6 

 
Purchasers, in exchange (the “Private Exchange”) for such Notes held by any such Holder, a like principal amount of notes (the
“Private Exchange Notes”) of the Company, guaranteed by the Guarantors, that are identical in all material respects to the Exchange Notes except for the placement of a restrictive legend on such Private Exchange Notes. The Private
Exchange Notes shall be issued pursuant to the same indenture as the Exchange Notes and bear the same CUSIP number as the Exchange Notes if permitted by the CUSIP Service Bureau. 
 In connection with the Exchange Offer, the Company shall: 
 (1) mail, or cause to be mailed, to each Holder of record entitled to participate in the Exchange Offer a copy of the Prospectus forming
part of the Exchange Offer Registration Statement, together with an appropriate letter of transmittal and related documents; 
 (2) use their respective reasonable best efforts to keep the Exchange Offer open for not less than 20 Business Days from the date that notice of the Exchange Offer is mailed to Holders (or longer if required by applicable law); 

(3) utilize the services of a depositary for the Exchange Offer with an address in the Borough of Manhattan, The City of New York or in
Wilmington, Delaware; 
 (4) permit Holders to withdraw tendered Notes at any time prior to the close of business, New York
time, on the last Business Day on which the Exchange Offer remains open; and 
 (5) otherwise comply in all material respects
with all laws, rules and regulations applicable to the Exchange Offer. 
 As soon as practicable after the close of the
Exchange Offer and any Private Exchange, the Company shall: 
 (1) accept for exchange all Registrable Securities validly
tendered and not validly withdrawn pursuant to the Exchange Offer and any Private Exchange; 
 (2) deliver to the Trustee for
cancellation all Registrable Securities so accepted for exchange; and 
 (3) cause the Trustee to authenticate and deliver
promptly to each Holder of Notes, Exchange Notes or Private Exchange Notes, as the case may be, equal in principal amount to the Notes of such Holder so accepted for exchange; provided that, in the case of any Notes held in global form by a
depositary, authentication and delivery to such depositary of one or more replacement Notes in global form in an equivalent principal amount thereto for the account of such Holders in accordance with the Indenture shall satisfy such authentication
and delivery requirement. 
  

 7 

 The Exchange Offer and the Private Exchange shall not be subject to any conditions, other
than that (i) the Exchange Offer or Private Exchange, as the case may be, does not violate applicable law or any applicable interpretation of the staff of the SEC; (ii) no action or proceeding shall have been instituted or threatened in
any court or by any governmental agency which might materially impair the ability of the Company to proceed with the Exchange Offer or the Private Exchange, and no material adverse development shall have occurred in any existing action or proceeding
with respect to the Company; and (iii) all governmental approvals shall have been obtained, which approvals the Company deem necessary for the consummation of the Exchange Offer or Private Exchange. 
 The Exchange Securities and the Private Exchange Notes (and related guarantees) shall be issued under (i) the Indenture or
(ii) an indenture identical in all material respects to the Indenture and which, in either case, has been qualified under the TIA or is exempt from such qualification and shall provide that the Exchange Securities shall not be subject to the
transfer restrictions set forth in the Indenture. The Indenture or such indenture shall provide that the Exchange Notes, the Private Exchange Notes and the Notes shall vote and consent together on all matters as one class and that none of the
Exchange Notes, the Private Exchange Notes or the Notes will have the right to vote or consent as a separate class on any matter. 
 (c) If, (i) because of any change in law or in currently prevailing interpretations of the staff of the SEC, the Company is not permitted to effect the Exchange Offer, (ii) the Exchange Offer is not consummated within 360 days of
the Issue Date, (iii) any holder of Private Exchange Notes so requests in writing to the Company at any time within 30 days after the consummation of the Exchange Offer, or (iv) in the case of any Holder that participates in the Exchange
Offer, such Holder does not receive Exchange Securities on the date of the exchange that may be sold without restriction under state and federal securities laws (other than due solely to the status of such Holder as an affiliate of the Company
within the meaning of the Securities Act) and so notifies the Company within 30 days after such Holder first becomes aware of such restrictions, in the case of each of clauses (i) to and including (iv) of this sentence, then the Company
shall promptly deliver to the Trustee (to deliver to the Holders) written notice thereof (the “Shelf Notice”) and shall file a Shelf Registration pursuant to Section 3 hereof. 
  

	 	3.	Shelf Registration 

 If at any time
a Shelf Notice is delivered as contemplated by Section 2(c) hereof, then: 
 (a) Shelf Registration. The Company
shall promptly file with the SEC a Registration Statement for an offering to be made on a continuous basis pursuant to Rule 415 covering all of the Registrable Securities (the “Initial Shelf Registration”). The Company and the
Guarantors shall use reasonable best efforts to file with the SEC the Initial Shelf Registration on or prior to the Filing Date. The Initial Shelf Registration shall be on Form S-1 or another appropriate form permitting registration of such
Registrable Securities for resale by Holders in the 

  

 8 

 
manner or manners designated by them (including, without limitation, one or more underwritten offerings). The Company shall not permit any securities other
than the Registrable Securities and the Guarantees to be included in the Initial Shelf Registration or any Subsequent Shelf Registration (as defined below). 
 The Company and the Guarantors shall use reasonable best efforts to cause the Shelf Registration to be declared effective under the
Securities Act on or prior to the Effectiveness Date and to keep the Initial Shelf Registration continuously effective under the Securities Act until the earliest of (i) such shorter period ending when all Registrable Securities covered by the
Initial Shelf Registration have been sold in the manner set forth and as contemplated in the Initial Shelf Registration or, if applicable, a Subsequent Shelf Registration or (ii) the date upon which all Registrable Securities are resold to the
public pursuant to Rule 144 (the “Effectiveness Period”); provided, however, that the Company’s obligation to register the Registrable Securities will not cease because of any provision in this clause (ii);
provided, further, that the Effectiveness Period in respect of the Initial Shelf Registration shall be extended to the extent required to permit dealers to comply with the applicable prospectus delivery requirements of Rule 174 under
the Securities Act and as otherwise provided herein. Notwithstanding anything to the contrary in this Agreement, at any time, the Company may delay the filing of any Initial Shelf Registration Statement or delay or suspend the effectiveness thereof,
for a reasonable period of time, but not in excess of 60 consecutive days or more than three (3) times during any calendar year (each, a “Shelf Suspension Period”), if the Board of Directors of the Company determines reasonably
and in good faith that the filing of any such Initial Shelf Registration Statement or the continuing effectiveness thereof would require the disclosure of non-public material information that, in the reasonable judgment of the Board of Directors of
the Company, would be detrimental to the Company if so disclosed or would otherwise materially adversely affect a financing, acquisition, disposition, merger or other material transaction or such action is required by applicable law. 
 (b) Withdrawal of Stop Orders; Subsequent Shelf Registrations. If the Initial Shelf Registration or any Subsequent Shelf
Registration ceases to be effective for any reason at any time during the Effectiveness Period (other than because of the sale of all of the Securities registered thereunder), the Company and the Guarantors shall use reasonable best efforts to
obtain the prompt withdrawal of any order suspending the effectiveness thereof, and in any event shall file an additional Shelf Registration Statement pursuant to Rule 415 covering all of the Registrable Securities covered by and not sold under the
Initial Shelf Registration or an earlier Subsequent Shelf Registration (each, a “Subsequent Shelf Registration”). If a Subsequent Shelf Registration is filed, the Company shall use its reasonable best efforts to cause the Subsequent
Shelf Registration to be declared effective under the Securities Act as soon as practicable after such filing and to keep such subsequent Shelf Registration continuously effective for a period equal to the number of days in the Effectiveness Period
less the aggregate number of days during which the Initial 

  

 9 

 
Shelf Registration or any Subsequent Shelf Registration was previously continuously effective. As used herein the term “Shelf Registration”
means the Initial Shelf Registration and any Subsequent Shelf Registration. 
 (c) Supplements and Amendments. The
Company shall promptly supplement and amend the Shelf Registration if required by the rules, regulations or instructions applicable to the registration form used for such Shelf Registration, if required by the Securities Act, or if reasonably
requested by the Holders of a majority in aggregate principal amount of the Registrable Securities (or their counsel) covered by such Registration Statement with respect to the information included therein with respect to one or more of such
Holders, or, if reasonably requested by any underwriter of such Registrable Securities, with respect to the information included therein with respect to such underwriter. 
  

	 	4.	Market-Making 

 (a) For the sole
benefit of Goldman, Sachs & Co. (in such capacity, the “Market-Maker”) or any of its affiliates (as defined in the rules and regulations of the SEC), so long as (x) any of the Registrable Securities or Exchange
Securities are outstanding and (y) it would be necessary under applicable laws, rules and regulations, in the reasonable opinion of the Market-Maker, for the Market-Maker or any of its affiliates to deliver a prospectus in connection with
market-making activities with respect to the Registrable Securities or Exchange Securities and the Market-Maker or such affiliate proposes to make a market in the Registrable Securities or Exchange Securities as part of its business in the ordinary
course, the following provisions shall apply for the sole benefit of the Market-Maker: 
 (i) The Company shall file under the
Securities Act one or more registration statements, in a form approved by the Market-Maker (each such filing, a “Market-Making Registration,” and each such registration statement, the “Market-Making Registration
Statement”). The Company and the Guarantors agree to use reasonable best efforts to cause a Market-Making Registration Statement with respect to the Exchange Securities (and, upon reasonable request by the Market-Maker, the Company and the
Guarantors will use commercially reasonable efforts to have such Market-Making Registration Statement also cover the Existing Notes) to be declared effective on or prior to (i) the date the Exchange Offer is completed pursuant to
Section 2(a) above or (ii) the date the Initial Shelf Registration becomes or is declared effective pursuant to Section 3 above, and, in each case, to keep such Market-Making Registration Statement continuously effective for so long
as the Market-Maker may be required to deliver a prospectus in connection with transactions in the Registrable Securities or the Exchange Securities, as the case may be. In the event that the Market-Maker holds Securities at the time the Exchange
Offer is to be conducted under Section 2(a) above, the Company agrees that the applicable Market-Making Registration shall provide for the resale by the Market-Maker of such Registrable Securities or Exchange Securities and shall use its
reasonable best efforts to keep the Market-Making Registration Statement continuously effective for so long as the Market- 

  

 10 

 
Maker may be required to deliver a prospectus in connection with the sale of such Registrable Securities or Exchange Securities. The Company further agrees
to supplement or make amendments to each Market-Making Registration Statement, as and when required by the rules, regulations or instructions applicable to the registration form used by the Company for the applicable Market-Making Registration
Statement, and the Company agrees to furnish to the Market-Maker copies of any such supplement or amendment prior to its being used or promptly following its filing with the SEC. 
 (ii) Notwithstanding the foregoing, the Company may suspend the offering and sale under a Market-Making Registration Statement for a
period or periods the Board of Directors of the Company reasonably determines to be advisable for valid business reasons, but in any event not in excess of 60 consecutive days or more than three (3) times during any calendar year during which
such Market-Making Registration Statement is required to be effective and usable hereunder (measured from the Effective Time of such Market-Making Registration Statement to successive anniversaries thereof) if (A) (i) the Board of
Directors of the Company determines in good faith that such action is in the best interests of the Company or (ii) such Market-Making Registration Statement, prospectus or amendment or supplement thereto contains an untrue statement of a
material fact or omits to state a material fact necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading, and (B) the Company notifies the Market-Maker within five days before
the effectiveness of such suspension. 
 (iii) The Company shall notify the Market-Maker (A) when any post-effective
amendment to a Market-Making Registration Statement or any amendment or supplement to the related prospectus has been filed, and, with respect to any post-effective amendment, when the same has become effective; (B) of any request by the SEC
for any post-effective amendment to a Market-Making Registration Statement, any supplement or amendment to the related prospectus or for additional information; (C) the issuance by the SEC of any stop order suspending the effectiveness of a
Market-Making Registration Statement or the initiation of any proceedings for that purpose; (D) of the receipt by the Company of any notification with respect to the suspension of the qualification of the Registrable Securities or Exchange
Securities for sale in any jurisdiction or the initiation or threatening of any proceedings for such purpose; and (E) of the happening of any event that makes any statement made in a Market-Making Registration Statement, the related prospectus
or any amendment or supplement thereto untrue or that requires the making of any changes in a Market-Making Registration Statement, such prospectus or any amendment or supplement thereto, in order to make the statements therein not misleading.

 (iv) If any event contemplated by Section 4(a)(iii)(B), (D) and (E) occurs during the period for which the
Company is required to maintain an effective Market-Making Registration Statement, the Company shall promptly prepare and file with the SEC a post-effective amendment to the applicable 

  

 11 

 
Market-Making Registration Statement or a supplement to the related prospectus or file any other required document so that the prospectus will not include an
untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading. 
 (v) In the event of the issuance of any stop order suspending the effectiveness of a Market-Making Registration Statement or of any order
suspending the qualification of the Registrable Securities or Exchange Securities for sale in any jurisdiction, the Company shall use promptly its reasonable best efforts to obtain its withdrawal. 
 (vi) The Company shall furnish to the Market-Maker, in each case without charge to the Market-Maker, at least one conformed copy of each
Market-Making Registration Statement and any post-effective amendment thereto and electronic copies of the related prospectus and any amendment or supplement thereto. 
 (vii) The Company shall consent to the use of the prospectus contained in a Market-Making Registration Statement or any amendment or
supplement thereto by the Market-Maker in connection with its market-making activities. 
 (viii) Notwithstanding the
foregoing provisions of this Section 4, the Company may for valid business reasons, including without limitation, a potential acquisition, divestiture of assets or other material corporate transaction, issue a notice that a Market-Making
Registration Statement is no longer effective or the prospectus included therein is no longer usable for offers and sales of Registrable Securities or Exchange Securities (or Existing Notes, if applicable) and may issue any notice suspending use of
such Market-Making Registration Statement required under applicable securities laws to be issued for so long as valid business reasons exist and the Company shall not be obligated to amend or supplement such Market-Making Registration Statement or
the prospectus included therein until it reasonably deems appropriate. The Market-Maker agrees that upon receipt of any notice from the Company pursuant to this Section 4(a)(viii), it will discontinue use of each Market-Making Registration
Statement until receipt of copies of the supplemented or amended prospectus relating thereto until advised in writing by the Company that the use of a Market-Making Registration Statement may be resumed. 
 (b) In connection with a Market-Making Registration, the Company shall (i) make reasonably available for inspection by a
representative of, and counsel acting for, the Market-Maker all relevant financial and other records, pertinent corporate documents and properties of the Company and its subsidiaries and (ii) use its reasonable best efforts to have its
officers, directors, employees, accountants and counsel supply all relevant information reasonably requested by such representative or counsel or the Market-Maker. 
  

 12 

 (c) Prior to the effective date of a Market-Making Registration Statement, the Company
will use its reasonable best efforts to register or qualify such Registrable or Exchange Securities (or Existing Notes, if applicable), as applicable, for offer and sale under the securities or blue sky laws of such jurisdictions as the Market-Maker
reasonably requests in writing and do any and all other acts or things necessary or advisable to enable the offer and sale in such jurisdictions of the Registrable Securities or Exchange Securities (or Existing Notes, if applicable) covered by such
Market-Making Registration Statement; provided that neither the Company nor any Guarantor will be required to qualify generally to do business in any jurisdiction where it is not then so qualified or to take any action which would subject it
to general service of process or to taxation in any such jurisdiction where it is not then so subject. 
 (d) The Company
represents that each Market-Making Registration Statement, any post-effective amendments thereto, any amendments or supplements to the related prospectus and any documents filed by them under the Exchange Act will, when they become effective or are
filed with the SEC, as the case may be, conform in all respects to the requirements of the Securities Act and the Exchange Act and the rules and regulations of the SEC thereunder and will not, as of the effective date of such Market-Making
Registration Statement or post-effective amendments and as of the filing date of amendments or supplements to such prospectus or filings under the Exchange Act, contain an untrue statement of a material fact or omit to state a material fact required
to be stated therein or necessary to make the statements therein in light of the circumstances under which they were made not misleading; provided that no representation or warranty is made as to information contained in or omitted from a
Market-Making Registration Statement or the related prospectus in reliance upon and in conformity with written information furnished to the Company by the Market-Maker specifically for inclusion therein, which information the parties hereto agree
will be limited to the statements concerning the Market-Making activities of the Market-Maker to be set forth on the cover page and in the “Plan of Distribution” section of the prospectus. 
 (e) At the time of effectiveness of a Market-Making Registration Statement (unless it is the same as the time of effectiveness of the
Exchange Offer Registration Statement) and concurrently with each time such Market-Making Registration Statement or the related prospectus shall be amended or such prospectus shall be supplemented, the Company shall (if requested in writing by the
Market-Maker) furnish the Market-Maker and its counsel with a certificate of an appropriate officer to the effect that: 
 (i)
such Market-Making Registration Statement has been declared effective; 
 (ii) in the case of an amendment or supplement, such
amendment has become effective under the Securities Act as of the date and time specified in such certificate, if applicable; if required, such amendment or supplement to the prospectus was filed with the SEC pursuant to the subparagraph of Rule
424(b) under the Securities Act specified in such certificate on the date specified therein; and 
  

 13 

 (iii) as of the date of such Market-Making Registration Statement, amendment or
supplement, as applicable, such Market-Making Registration Statement and the prospectus, as amended or supplemented, if applicable, did not include any untrue statement of a material fact and did not omit to state a material fact required to be
stated therein or necessary to make the statements therein not misleading. 
 (f) The Company, on the one hand, and the
Market-Maker, on the other hand, hereby agrees to indemnify each other, and, if applicable, contribute to the other, in accordance with Section 8 of this Agreement. 
 (g) The Company will comply with the provisions of this Section 4 at its own expense. 
 (h) The agreements contained in this Section 4 and the representations, warranties and agreements contained in this Agreement shall
survive all offers and sales of the Existing Notes, Registrable Securities or Exchange Securities and shall remain in full force and effect, regardless of any termination or cancellation of agreements outside this Section 4 of this Agreement or
any investigation made by or on behalf of any indemnified party. 
 (i) For purposes of this Section 4, any reference to
the terms “amend,” “amendment” or “supplement” with respect to a Market-Making Registration Statement or the prospectus contained therein shall be deemed to refer to and include the filing under the Exchange Act of any
document deemed to be incorporated therein by reference. 
  

	 	5.	Additional Interest 

 (a) The Company, the Guarantors and the Initial Purchasers agree that the Holders will suffer damages if the Company or the Guarantors fail to fulfill their respective obligations under Section 2 or Section 3 hereof and that it
would not be feasible to ascertain the extent of such damages with precision. Accordingly, the Company and the Guarantors agree to pay, jointly and severally, as liquidated damages, additional interest on the Notes (“Additional
Interest”) if (A) the Company has neither (i) exchanged Exchange Securities for all Securities validly tendered in accordance with the terms of the Exchange Offer nor (ii) had a Shelf Registration Statement declared
effective, in either case on or prior to the 360th day after the Issue Date,
(B) notwithstanding clause (A), the Company is required to file a Shelf Registration Statement and such Shelf Registration Statement is not declared effective on or prior to the 360th day after the date such Shelf Registration Statement filing was requested or required or (C), if applicable, a Shelf Registration
has been declared effective and such Shelf Registration ceases to be effective at any time during the Effectiveness Period (other than because of the sale of all of the Securities registered thereunder), then Additional Interest shall accrue on the
principal amount of the Notes at a rate of 0.25% per annum (which rate will be increased by an additional 0.25% per annum for each subsequent 90 day period that such Additional Interest continues to accrue, provided that the rate at which
such Additional Interest accrues may in no event exceed 1.00% per 

  

 14 

 
annum) (such Additional Interest to be calculated by the Company) commencing on the (x) 361st day after the Issue Date, in the case of (A) above, (y) the 361st day after the date such Shelf Registration Statement filing was requested or required in the case of (B) above or (z) the
day such Shelf Registration ceases to be effective in the case of (C) above; provided, however, that upon the exchange of the Exchange Securities for all Securities tendered (in the case of clause (A) of this Section 5),
upon the effectiveness of the applicable Shelf Registration Statement (in the case of (B) of this Section 5), or upon the effectiveness of the applicable Shelf Registration Statement which had ceased to remain effective (in the case of
(C) of this Section 5), Additional Interest on the Notes in respect of which such events relate as a result of such clause (or the relevant subclause thereof), as the case may be, shall cease to accrue. Notwithstanding any other provisions
of this Section 5, the Company shall not be obligated to pay Additional Interest provided in Section 5(a)(B) during a Shelf Suspension Period permitted by Section 3(a) hereof; provided, that no Additional Interest shall accrue
on the Notes following the second anniversary of the Issue Date. 
 (b) The Company shall notify the Trustee within one
business day after each and every date on which an event occurs in respect of which Additional Interest is required to be paid (an “Event Date”). Any amounts of Additional Interest due pursuant to (a) of this Section 5
will be payable in cash semiannually on each April 1 and October 1 (to the holders of record on the March 15 and September 15 immediately preceding such dates), commencing with the first such date occurring after any such
Additional Interest commences to accrue. The amount of Additional Interest will be determined by the Company by multiplying the applicable Additional Interest rate by the principal amount of the Registrable Securities, multiplied by a fraction, the
numerator of which is the number of days such Additional Interest rate was applicable during such period (determined on the basis of a 360 day year comprised of twelve 30 day months and, in the case of a partial month, the actual number of days
elapsed), and the denominator of which is 360. 
  

	 	6.	Registration Procedures 

 In
connection with the filing of any Registration Statement pursuant to Section 2 or 3 hereof, the Company shall effect such registrations to permit the sale of the securities covered thereby in accordance with the intended method or methods of
disposition thereof, and pursuant thereto and in connection with any Registration Statement filed by the Company hereunder the Company and the Guarantors shall: 
 (a) Prepare and file with the SEC (prior to the applicable Filing Date in the case of a Shelf Registration), a Registration Statement or
Registration Statements as prescribed by Section 2 or 3 hereof, and use reasonable best efforts to cause each such Registration Statement to become effective and remain effective as provided herein; provided, however, that if
(1) such filing is pursuant to Section 3 hereof or (2) a Prospectus contained in the Exchange Offer Registration Statement filed pursuant to Section 2 hereof is required to be delivered under the Securities Act by any
Participating Broker-Dealer who seeks to sell Exchange Securities during the Applicable Period relating thereto from 

  

 15 

 
whom the Company has received prior written notice that it will be a Participating Broker-Dealer in the Exchange Offer, before filing any Registration
Statement or Prospectus or any amendments or supplements thereto, the Company shall furnish to and afford counsel for the Holders of the Registrable Securities covered by such Registration Statement (with respect to a Registration Statement filed
pursuant to Section 3 hereof) or counsel for such Participating Broker-Dealer (with respect to any such Registration Statement), as the case may be, and counsel to the managing underwriters, if any, a reasonable opportunity to review copies of
all such documents (including copies of any documents to be incorporated by reference therein and all exhibits thereto) proposed to be filed (in each case at least three business days prior to such filing). The Company shall not file any
Registration Statement or Prospectus or any amendments or supplements thereto if the Holders of a majority in aggregate principal amount of the Registrable Securities covered by such Registration Statement, their counsel, or the managing
underwriters, if any, shall reasonably object. 
 (b) Prepare and file with the SEC such amendments and post-effective
amendments to each Shelf Registration Statement or Exchange Offer Registration Statement, as the case may be, as may be necessary to keep such Registration Statement continuously effective for the Effectiveness Period, the Applicable Period or until
consummation of the Exchange Offer, as the case may be; cause the related Prospectus to be supplemented by any Prospectus supplement required by applicable law, and as so supplemented to be filed pursuant to Rule 424; and comply with the provisions
of the Securities Act and the Exchange Act applicable to it with respect to the disposition of all securities covered by such Registration Statement as so amended or in such Prospectus as so supplemented and with respect to the subsequent resale of
any securities being sold by an Participating Broker-Dealer covered by any such Prospectus in all material respects. The Company and the Guarantors shall be deemed not to have used reasonable best efforts to keep a Registration Statement effective
if they voluntarily take any action that is reasonably expected to result in selling Holders of the Registrable Securities covered thereby or Participating Broker-Dealers seeking to sell Exchange Securities not being able to sell such Registrable
Securities or such Exchange Securities during that period unless such action is required by applicable law or permitted by this Agreement. 
 (c) If (1) a Shelf Registration is filed pursuant to Section 3 hereof or (2) a Prospectus contained in the Exchange Offer Registration Statement filed pursuant to Section 2 hereof is required to be
delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Securities during the Applicable Period relating thereto from whom the Company has received written notice that it will be a Participating Broker-Dealer
in the Exchange Offer, notify the selling Holders of Registrable Securities (with respect to a Registration Statement filed pursuant to Section 3 hereof), or each such Participating Broker-Dealer (with respect to any such Registration
Statement), as the case may be, their counsel and the managing underwriters, if any, promptly (but in any event within three Business Days), and confirm such notice in writing, (i) when a Prospectus or 

  

 16 

 
any Prospectus supplement or post-effective amendment has been filed, and, with respect to a Registration Statement or any post-effective amendment, when the
same has become effective under the Securities Act (including in such notice a written statement that any Holder may, upon request, obtain, at the sole expense of the Company, one conformed copy of such Registration Statement or post-effective
amendment including financial statements and schedules, documents incorporated or deemed to be incorporated by reference and exhibits), (ii) of the issuance by the SEC of any stop order suspending the effectiveness of a Registration Statement
or of any order preventing or suspending the use of any preliminary prospectus or the initiation of any proceedings for that purpose, (iii) if at any time when a prospectus is required by the Securities Act to be delivered in connection with
sales of the Registrable Securities or resales of Exchange Securities by Participating Broker-Dealers the representations and warranties of the Company contained in any agreement (including any underwriting agreement) contemplated by
Section 6(m) hereof cease to be true and correct, (iv) of the receipt by the Company of any notification with respect to the suspension of the qualification or exemption from qualification of a Registration Statement or any of the
Registrable Securities or the Exchange Securities to be sold by any Participating Broker-Dealer for offer or sale in any jurisdiction, or the initiation or threatening of any proceeding for such purpose, (v) of the happening of any event, the
existence of any condition or any information becoming known that makes any statement made in such Registration Statement or related Prospectus or any document incorporated or deemed to be incorporated therein by reference untrue in any material
respect or that requires the making of any changes in or amendments or supplements to such Registration Statement, Prospectus or documents so that, in the case of the Registration Statement, it will not contain any untrue statement of a material
fact or omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading, and that in the case of the Prospectus, it will not contain any untrue statement of a material fact or omit to state
any material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, and (vi) of the Company’s determination that a post-effective
amendment to a Registration Statement would be appropriate. 
 (d) Use reasonable best efforts to prevent the issuance of any
order suspending the effectiveness of a Registration Statement or of any order preventing or suspending the use of a Prospectus or suspending the qualification (or exemption from qualification) of any of the Registrable Securities or the Exchange
Securities to be sold by any Participating Broker-Dealer, for sale in any jurisdiction. 
 (e) If a Shelf Registration is
filed pursuant to Section 3 and if requested during the Effectiveness Period by the managing underwriter or underwriters (if any) or the Holders of a majority in aggregate principal amount of the Registrable Securities being sold in connection
with an underwritten offering, (i) as promptly as practicable incorporate in a prospectus supplement or post-effective amendment such information as the managing underwriter or 

  

 17 

 
underwriters (if any), such Holders or counsel for either of them reasonably request to be included therein, (ii) make all required filings of such
prospectus supplement or such post-effective amendment as soon as practicable after the Company has received notification of the matters to be incorporated in such prospectus supplement or post-effective amendment, and (iii) supplement or make
amendments to such Registration Statement. 
 (f) If (1) a Shelf Registration is filed pursuant to Section 3 hereof,
or (2) a Prospectus contained in the Exchange Offer Registration Statement filed pursuant to Section 2 hereof is required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Securities
during the Applicable Period, furnish to each selling Holder of Registrable Securities (with respect to a Registration Statement filed pursuant to Section 3 hereof) and to each such Participating Broker-Dealer who so requests (with respect to
any such Registration Statement) and to their respective counsel and each managing underwriter, if any, at the sole expense of the Company, one conformed copy of the Registration Statement or Registration Statements and each post-effective amendment
thereto, including financial statements and schedules, and, if requested, all documents incorporated or deemed to be incorporated therein by reference and all exhibits. 
 (g) If (1) a Shelf Registration is filed pursuant to Section 3 hereof, or (2) a Prospectus contained in the Exchange Offer
Registration Statement filed pursuant to Section 2 hereof is required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Securities during the Applicable Period, deliver to each selling Holder
of Registrable Securities (with respect to a Registration Statement filed pursuant to Section 3 hereof), or each such Participating Broker-Dealer (with respect to any such Registration Statement), as the case may be, their respective counsel,
and the underwriters, if any, at the sole expense of the Company, as many copies of the Prospectus or Prospectuses (including each form of preliminary prospectus) and each amendment or supplement thereto and any documents incorporated by reference
therein as such Persons may reasonably request; and, subject to the last paragraph of this Section 6, the Company hereby consents to the use of such Prospectus and each amendment or supplement thereto by each of the selling Holders of
Registrable Securities or each such Participating Broker-Dealer, as the case may be, and the underwriters or agents, if any, and dealers, if any, in connection with the offering and sale of the Registrable Securities covered by, or the sale by
Participating Broker-Dealers of the Exchange Securities pursuant to, such Prospectus and any amendment or supplement thereto. 
 (h) Prior to any public offering of Registrable Securities or any delivery of a Prospectus contained in the Exchange Offer Registration Statement by any Participating Broker-Dealer who seeks to sell Exchange Securities during the Applicable
Period, use reasonable best efforts to register or qualify, and to cooperate with the selling Holders of Registrable Securities or each such Participating Broker-Dealer, as the case may be, the managing underwriter or 

  

 18 

 
underwriters, if any, and their respective counsel in connection with the registration or qualification (or exemption from such registration or
qualification) of such Registrable Securities for offer and sale under the securities or Blue Sky laws of such jurisdictions within the United States as any selling Holder, Participating Broker-Dealer, or the managing underwriter or underwriters
reasonably request in writing; provided, however, that where Exchange Securities held by Participating Broker-Dealers or Registrable Securities are offered other than through an underwritten offering, the Company agrees to cause its
counsel to perform Blue Sky investigations and file registrations and qualifications required to be filed pursuant to this Section 6(h), keep each such registration or qualification (or exemption therefrom) effective during the period such
Registration Statement is required to be kept effective and do any and all other acts or things necessary or advisable to enable the disposition in such jurisdictions of the Exchange Securities held by Participating Broker-Dealers or the Registrable
Securities covered by the applicable Registration Statement; provided, however, that the Company shall not be required to (A) qualify generally to do business in any jurisdiction where it is not then so qualified, (B) take
any action that would subject it to general service of process in any such jurisdiction where it is not then so subject or (C) subject itself to taxation in excess of a nominal dollar amount in any such jurisdiction where it is not then so
subject. 
 (i) If a Shelf Registration is filed pursuant to Section 3 hereof, cooperate with the selling Holders of
Registrable Securities and the managing underwriter or underwriters, if any, to facilitate the timely preparation and delivery of certificates representing Registrable Securities to be sold, which certificates shall not bear any restrictive legends
and shall be in a form eligible for deposit with The Depository Trust Company; and enable such Registrable Securities to be in such denominations (subject to applicable requirements contained in the Indenture) and registered in such names as the
managing underwriter or underwriters, if any, or Holders may request. 
 (j) Use reasonable best efforts to cause the
Registrable Securities covered by the Registration Statement to be registered with or approved by such other U.S. governmental agencies or authorities as may be necessary to enable the seller or sellers thereof or the underwriter or underwriters, if
any, to consummate the disposition of such Registrable Securities, except as may be required solely as a consequence of the nature of such selling Holder’s business, in which case the Company will cooperate in all respects with the filing of
such Registration Statement and the granting of such approvals. 
 (k) If (1) a Shelf Registration is filed pursuant to
Section 3 hereof, or (2) a Prospectus contained in the Exchange Offer Registration Statement filed pursuant to Section 2 hereof is required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell
Exchange Securities during the Applicable Period, upon the occurrence of any event contemplated by paragraph 6(c)(v) or 6(c)(vi) hereof, as promptly as practicable prepare and (subject to Section 6(a) hereof) file with the SEC, at the sole
expense of the 

  

 19 

 
Company, a supplement or post-effective amendment to the Registration Statement or a supplement to the related Prospectus or any document incorporated
therein by reference, or file any other required document so that, as thereafter delivered to the purchasers of the Registrable Securities being sold thereunder (with respect to a Registration Statement filed pursuant to Section 3 hereof) or to
the purchasers of the Exchange Securities to whom such Prospectus will be delivered by a Participating Broker-Dealer (with respect to any such Registration Statement), any such Prospectus will not contain an untrue statement of a material fact or
omit to state a material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading. 
 (l) Prior to the effective date of the first Registration Statement relating to the Registrable Securities, (i) provide the Trustee
with certificates for the Registrable Securities in a form eligible for deposit with The Depository Trust Company and (ii) provide a CUSIP number for the Registrable Securities. 
 (m) In connection with any underwritten offering of Registrable Securities pursuant to a Shelf Registration, enter into an underwriting
agreement as is customary in underwritten offerings of debt securities similar to the Securities (including, without limitation, a customary condition to the obligations of the underwriters that the underwriters shall have received “cold
comfort” letters and updates thereof in form, scope and substance reasonably satisfactory to the managing underwriter or underwriters from the independent certified public accountants of the Company (and, if necessary, any other independent
certified public accountants of the Company, or of any business acquired by the Company, for which financial statements and financial data are, or are required to be, included or incorporated by reference in the Registration Statement), addressed to
each of the underwriters, such letters to be in customary form and covering matters of the type customarily covered in “cold comfort” letters in connection with underwritten offerings of debt securities similar to the Securities), and take
all such other actions as are reasonably requested by the managing underwriter or underwriters in order to expedite or facilitate the registration or the disposition of such Registrable Securities and, in such connection, (i) make such
representations and warranties to, and covenants with, the underwriters with respect to the business of the Company (including any acquired business, properties or entity, if applicable), and the Registration Statement, Prospectus and documents, if
any, incorporated or deemed to be incorporated by reference therein, in each case, as are customarily made by Company to underwriters in underwritten offerings of debt securities similar to the Securities, and confirm the same in writing if and when
requested; (ii) obtain the written opinions of counsel to the Company, and written updates thereof in form, scope and substance reasonably satisfactory to the managing underwriter or underwriters, addressed to the underwriters covering the
matters customarily covered in opinions reasonably requested in underwritten offerings; and (iii) if an underwriting agreement is entered into, the same shall contain indemnification provisions and procedures no less favorable to the sellers
and underwriters, if any, than those set forth in Section 8 hereof (or such other 

  

 20 

 
provisions and procedures reasonably acceptable to Holders of a majority in aggregate principal amount of Registrable Securities covered by such Registration
Statement and the managing underwriter or underwriters or agents, if any). The above shall be done at each closing under such underwriting agreement, or as and to the extent required thereunder. 
 (n) If (1) a Shelf Registration is filed pursuant to Section 3 hereof, or (2) a Prospectus contained in the Exchange Offer
Registration Statement filed pursuant to Section 2 hereof is required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Securities during the Applicable Period, make available for inspection
by any Initial Purchaser, any selling Holder of such Registrable Securities being sold (with respect to a Registration Statement filed pursuant to Section 3 hereof), or each such Participating Broker-Dealer, as the case may be, any underwriter
participating in any such disposition of Registrable Securities, if any, and any attorney, accountant or other agent retained by any such selling Holder or each such Participating Broker-Dealer (with respect to any such Registration Statement), as
the case may be, or underwriter (any such Initial Purchasers, Holders, Participating Broker-Dealers, underwriters, attorneys, accountants or agents, collectively, the “Inspectors”), upon written request, at the offices where
normally kept, during reasonable business hours, all pertinent financial and other records, pertinent corporate documents and instruments of the Company and subsidiaries of the Company (collectively, the “Records”), as shall be
reasonably necessary to enable them to exercise any applicable due diligence responsibilities, and cause the officers, directors and employees of the Company and any of its subsidiaries to supply all information (“Information”)
reasonably requested by any such Inspector in connection with such due diligence responsibilities. Each Inspector shall agree in writing that it will keep the Records and Information confidential, to use the Information only for due diligence
purposes, to abstain from using the Information as the basis for any market transactions in Securities of the Company and that it will not disclose any of the Records or Information that the Company determines, in good faith, to be confidential and
notifies the Inspectors in writing are confidential unless (i) the disclosure of such Records or Information is necessary to avoid or correct a misstatement or omission in such Registration Statement or Prospectus, (ii) the release of such
Records or Information is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, (iii) disclosure of such Records or Information is necessary or advisable, in the opinion of counsel for any Inspector, in
connection with any action, claim, suit or proceeding, directly or indirectly, involving or potentially involving such Inspector and arising out of, based upon, relating to, or involving this Agreement or the Purchase Agreement, or any transactions
contemplated hereby or thereby or arising hereunder or thereunder, or (iv) the information in such Records or Information has been made generally available to the public other than by an Inspector or an “affiliate” (as defined in Rule
405) thereof; provided, however, that prior notice shall be provided as soon as practicable to the Company of the potential disclosure of any information by such Inspector pursuant to clauses (i) or (ii) of this sentence to
permit the Company to obtain a protective order (or waive 

  

 21 

 
the provisions of this paragraph (o)) and that such Inspector shall take such actions as are reasonably necessary to protect the confidentiality of such
information (if practicable) to the extent such action is otherwise not inconsistent with, an impairment of or in derogation of the rights and interests of the Holder or any Inspector. 
 (o) Provide an indenture trustee for the Registrable Securities or the Exchange Securities, as the case may be, and cause the Indenture or
the trust indenture provided for in Section 2(a) hereof, as the case may be, to be qualified under the TIA not later than the effective date of the first Registration Statement relating to the Registrable Securities; and in connection
therewith, cooperate with the trustee under any such indenture and the Holders of the Registrable Securities, to effect such changes (if any) to such indenture as may be required for such indenture to be so qualified in accordance with the terms of
the TIA; and execute, and use its commercially reasonable best efforts to cause such trustee to execute, all documents as may be required to effect such changes, and all other forms and documents required to be filed with the SEC to enable such
indenture to be so qualified in a timely manner. 
 (p) Comply in all material respects with all applicable rules and
regulations of the SEC and make generally available to its securityholders with regard to any applicable Registration Statement, a consolidated earning statement satisfying the provisions of Section 11(a) of the Securities Act and Rule 158
thereunder (or any similar rule promulgated under the Securities Act) no later than 45 days after the end of any fiscal quarter (or 90 days after the end of any 12-month period if such period is a fiscal year) (i) commencing at the end of any
fiscal quarter in which Registrable Securities are sold to underwriters in a firm commitment or best efforts underwritten offering and (ii) if not sold to underwriters in such an offering, commencing on the first day of the first fiscal quarter
of the Company, after the effective date of a Registration Statement, which statements shall cover said 12-month periods; provided that this requirement shall be deemed satisfied by the Company complying with Section 4.02 of the
Indenture. 
 (q) Upon consummation of the Exchange Offer or a Private Exchange, obtain an opinion of counsel to the Company,
in a form customary for underwritten transactions, addressed to the Trustee for the benefit of all Holders of Registrable Securities participating in the Exchange Offer or the Private Exchange, as the case may be, that the Exchange Securities or
Private Exchange Notes (and the related Guarantees), as the case may be, the related guarantee and the related indenture constitute legal, valid and binding obligations of the Company and the Guarantors, as applicable, enforceable against the
Company and the Guarantors, as applicable, in accordance with their respective terms, subject to customary exceptions and qualifications. If the Exchange Offer or a Private Exchange is to be consummated, upon delivery of the Registrable Securities
by Holders to the Company (or to such other Person as directed by the Company), in exchange for the Exchange Securities or the Private Exchange Notes (and the 

  

 22 

 
related Guarantees), as the case may be, the Company shall mark, or cause to be marked, on such Registrable Securities that such Registrable Securities are
being cancelled in exchange for the Exchange Securities or the Private Exchange Notes (and the related Guarantees), as the case may be; in no event shall such Registrable Securities be marked as paid or otherwise satisfied. 
 (r) Use reasonable efforts to cooperate with each seller of Registrable Securities covered by any Registration Statement and each
underwriter, if any, participating in the disposition of such Registrable Securities and their respective counsel in connection with any filings required to be made with the Financial Industry Regulatory Authority Inc. (“FINRA”).

 (s) Use reasonable best efforts to take all other steps reasonably necessary to effect the registration of the Exchange
Securities and/or Registrable Securities covered by a Registration Statement contemplated hereby. 
 The Company may require
each seller of Registrable Securities as to which any registration is being effected to furnish to the Company such information regarding such seller and the distribution of such Registrable Securities as the Company may, from time to time,
reasonably request. The Company may exclude from such registration the Registrable Securities of any seller so long as such seller fails to furnish such information within a reasonable time after receiving such request. Each seller as to which any
Shelf Registration is being effected agrees to furnish promptly to the Company all information required to be disclosed in order to make the information previously furnished to the Company by such seller not materially misleading. 
 If any such Registration Statement refers to any Holder by name or otherwise as the holder of any securities of the Company, then such
Holder shall have the right to require (i) the insertion therein of language, in form and substance reasonably satisfactory to such Holder, to the effect that the holding by such Holder of such securities is not to be construed as a
recommendation by such Holder of the investment quality of the securities covered thereby and that such holding does not imply that such Holder will assist in meeting any future financial requirements of the Company, or (ii) in the event that
such reference to such Holder by name or otherwise is not required by the Securities Act or any similar federal statute then in force, the deletion of the reference to such Holder in any amendment or supplement to the Registration Statement filed or
prepared subsequent to the time that such reference ceases to be required. 
 Each Holder of Registrable Securities and each
Participating Broker-Dealer agrees by its acquisition of such Registrable Securities or Exchange Securities to be sold by such Participating Broker-Dealer, as the case may be, that, upon actual receipt of any notice from the Company of the happening
of any event of the kind described in Section 6(c)(ii), 6(c)(iv), 6(c)(v), or 6(c)(vi) hereof, such Holder will forthwith discontinue disposition of such Registrable Securities covered by such Registration Statement or Prospectus or Exchange
Securities to 

  

 23 

 
be sold by such Holder or Participating Broker-Dealer, as the case may be, until such Holder’s or Participating Broker-Dealer’s receipt of the
copies of the supplemented or amended Prospectus contemplated by Section 6(k) hereof, or until it is advised in writing (the “Advice”) by the Company that the use of the applicable Prospectus may be resumed, and has received
copies of any amendments or supplements thereto. In the event that the Company shall give any such notice, each of the Applicable Period and the Effectiveness Period shall be extended by the number of days during such periods from and including the
date of the giving of such notice to and including the date when each seller of Registrable Securities covered by such Registration Statement or Exchange Securities to be sold by such Participating Broker-Dealer, as the case may be, shall have
received (x) the copies of the supplemented or amended Prospectus contemplated by Section 6(k) hereof or (y) the Advice. 
  

	 	7.	Registration Expenses 

 All fees and
expenses incident to the performance of or compliance with this Agreement by the Company or the Guarantors of their respective obligations under Sections 2, 3, 4, 6 and 9 shall be borne by the Company and the Guarantors, whether or not the Exchange
Offer Registration Statement or any Shelf Registration Statement is filed or becomes effective or the Exchange Offer is consummated, including, without limitation, (i) all registration and filing fees (including, without limitation,
(A) fees with respect to filings required to be made with the FINRA in connection with an underwritten offering and (B) fees and expenses of compliance with state securities or Blue Sky laws (including, without limitation, reasonable fees
and disbursements of counsel in connection with Blue Sky qualifications of the Registrable Securities or Exchange Securities and determination of the eligibility of the Registrable Securities or Exchange Securities for investment under the laws of
such jurisdictions in the United States (x) where the holders of Registrable Securities are located, in the case of the Exchange Securities, or (y) as provided in Section 6(h) hereof, in the case of Registrable Securities or Exchange
Securities to be sold by a Participating Broker-Dealer during the Applicable Period)), (ii) printing expenses, including, without limitation, printing prospectuses if the printing of prospectuses is requested by the managing underwriter or
underwriters, if any, by the Holders of a majority in aggregate principal amount of the Registrable Securities included in any Registration Statement or in respect of Registrable Securities or Exchange Securities to be sold by any Participating
Broker-Dealer during the Applicable Period, as the case may be, (iii) fees and expenses of the Trustee, any exchange agent and their counsel, (iv) fees and disbursements of counsel for the Company and, in the case of a Shelf Registration,
reasonable fees and disbursements of one special counsel for all of the sellers of Registrable Securities selected by the Holder of a majority in aggregate principal amount of Registrable Securities covered by such Shelf Registration (which counsel
shall be reasonably satisfactory to the Company) exclusive of any counsel retained pursuant to Section 8 hereof), (v) fees and disbursements of all independent certified public accountants referred to in Section 6(m) hereof
(including, without limitation, the expenses of any “cold comfort” letters required by or incident to such performance), (vi) rating agency fees, if any, and any fees associated with making the Registrable Securities or Exchange
Securities eligible for trading through The Depository 

  

 24 

 
Trust Company, (vii) Securities Act liability insurance, if the Company desires such insurance, (viii) fees and expenses of all other Persons
retained by the Company, (ix) internal expenses of the Company and the Guarantors (including, without limitation, all salaries and expenses of officers and employees of the Company and the Guarantors performing legal or accounting duties),
(x) the expense of any annual audit, (xi) any fees and expenses incurred in connection with the listing of the securities to be registered on any securities exchange, and the obtaining of a rating of the securities, in each case, if
applicable and (xii) the expenses relating to printing, word processing and distributing all Registration Statements, underwriting agreements, indentures and any other documents necessary in order to comply with this Agreement. 
  

	 	8.	Indemnification and Contribution 

 (a) The Company and the Guarantors, jointly and severally, agree to indemnify and hold harmless each Holder of Registrable Securities, the Market-Maker and each Participating Broker-Dealer selling Exchange Securities during the Applicable
Period, and each Person, if any, who controls such Person or its affiliates within the meaning of Section 15 of the Act or Section 20 of the Exchange Act (each, a “Participant”) against any losses, claims, damages or
liabilities, joint or several, to which any Participant may become subject under the Securities Act, the Exchange Act or otherwise, insofar as any such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based
upon: 
 (i) any untrue statement or alleged untrue statement of any material fact contained in any Registration Statement (or
any amendment thereto), Market-Making Registration Statement (or any amendment thereto) or Prospectus (as amended or supplemented if the Company shall have furnished any amendments or supplements thereto) or any preliminary prospectus; or

 (ii) the omission or alleged omission to state, in any Registration Statement (or any amendment thereto), Market-Making
Registration Statement (or any amendment thereto) or Prospectus (as amended or supplemented if the Company shall have furnished any amendments or supplements thereto) or any preliminary prospectus or any other document or any amendment or supplement
thereto, a material fact required to be stated therein or necessary to make the statements therein not misleading, 
 except, in each case,
insofar as such losses, claims, damages or liabilities are arising out of or based upon any untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with any information relating to any Initial
Purchaser, the Market-Maker or any Holder furnished to the Company in writing through the Initial Purchasers, the Market-Maker or any selling Holder expressly for use therein; 
 and agree (subject to the limitations set forth in the proviso to this sentence) to reimburse, as incurred, the Participant for any reasonable legal or
other expenses incurred by the Participant in connection with investigating, defending against or appearing as a third- 

  

 25 

 
party witness in connection with any such loss, claim, damage, liability or action; provided, however, neither the Company nor the Guarantors
will be liable in any such case to the extent that any such loss, claim, damage, or liability arises out of or is based upon any untrue statement or alleged untrue statement or omission or alleged omission made in any Registration Statement (or any
amendment thereto), Market-Making Registration Statement (or any amendment thereto) or Prospectus (as amended or supplemented if the Company shall have furnished any amendments or supplements thereto) or any preliminary prospectus or any amendment
or supplement thereto in reliance upon and in conformity with written information relating to any Participant furnished to the Company by such Participant specifically for use therein. The indemnity provided for in this Section 8 will be in
addition to any liability that the Company may otherwise have to the indemnified parties. The Company and the Guarantors shall not be liable under this Section 8 to any indemnified party regarding any settlement or compromise or consent to the
entry of any judgment with respect to any pending or threatened claim, action, suit or proceeding in respect of which indemnification or contribution may be sought hereunder (whether or not the indemnified parties are actual or potential parties to
such claim or action) unless such settlement, compromise or consent is consented to by the Company and the Guarantors, which consent shall not be unreasonably withheld. 
 (b) Each Participant, severally and not jointly, agrees to indemnify and hold harmless the Company, the Guarantors, their respective
directors (or equivalent), their respective officers who sign any Registration Statement and each person, if any, who controls the Company within the meaning of Section 15 of the Act or Section 20 of the Exchange Act against any losses,
claims, damages or liabilities to which the Company, the Guarantors or any such director, officer or controlling person may become subject under the Act, the Exchange Act or otherwise, insofar as such losses, claims, damages or liabilities (or
actions in respect thereof) arise out of or are based upon (i) any untrue statement or alleged untrue statement of any material fact contained in any Registration Statement, Market-Making Registration Statement or Prospectus, any amendment or
supplement thereto, or any preliminary prospectus, or (ii) the omission or the alleged omission to state therein a material fact necessary to make the statements therein not misleading, in each case to the extent, but only to the extent, that
such untrue statement or alleged untrue statement or omission or alleged omission was made in reliance upon and in conformity with written information concerning such Participant, furnished to the Company by or on behalf of such Participant,
specifically for use therein; and subject to the limitation set forth immediately preceding this clause, will reimburse, as incurred, any reasonable legal or other expenses incurred by the Company, the Guarantors or any such director, officer or
controlling person in connection with investigating or defending against or appearing as a third party witness in connection with any such loss, claim, damage, liability or action in respect thereof. The indemnity provided for in this Section 8
will be in addition to any liability that the Participants may otherwise have to the indemnified parties. The Participants shall not be liable under this Section 8 to any indemnified party regarding any settlement or compromise or consent to
the entry of any judgment with respect to any pending or threatened claim, action, suit or proceeding in respect of which indemnification or contribution may be sought hereunder (whether or not the indemnified parties are actual or potential parties
to such claim or action) unless 

  

 26 

 
such settlement, compromise or consent is consented to by the Participants, which consent shall not be unreasonably withheld. The Company and the Guarantors
shall not, without the prior written consent of such Participant, effect any settlement or compromise of any pending or threatened proceeding in respect of which such Participant is or could have been a party, or indemnity could have been sought
hereunder by such Participant, unless such settlement (A) includes an unconditional written release of such Participant, in form and substance reasonably satisfactory to such Participant, from all liability on claims that are the subject matter
of such proceeding and (B) does not include any statement as to an admission of fault, culpability or failure to act by or on behalf of such Participant. 
 (c) Promptly after receipt by an indemnified party under this Section 8 of notice of the commencement of any action, such indemnified
party will, if a claim in respect thereof is to be made against the indemnifying party under this Section 8, notify the indemnifying party of the commencement thereof in writing; but the omission to so notify the indemnifying party
(i) will not relieve it from any liability under paragraph (a) or (b) above unless and to the extent it did not otherwise learn of such action and such failure results in the forfeiture by the indemnifying party of substantial rights
and defenses and (ii) will not, in any event, relieve the indemnifying party from any obligations to any indemnified party other than the indemnification obligation provided in paragraphs (a) and (b) above. The indemnifying party
shall be entitled to appoint counsel (including local counsel) of the indemnifying party’s choice at the indemnifying party’s expense to represent the indemnified party in any action for which indemnification is sought (in which case the
indemnifying party shall not thereafter be responsible for the fees and expenses of any separate counsel, other than local counsel if not appointed by the indemnifying party, retained by the indemnified party or parties except as set forth below);
provided, however, that such counsel shall be reasonably satisfactory to the indemnified party. Notwithstanding the indemnifying party’s election to appoint counsel (including local counsel) to represent the indemnified party in
an action, the indemnified party shall have the right to employ separate counsel (including local counsel), and the indemnifying party shall bear the reasonable fees, costs and expenses of such separate counsel if (i) the use of counsel chosen
by the indemnifying party to represent the indemnified party would present such counsel with a conflict of interest (based on the advice of counsel to the indemnified person); (ii) such action includes both the indemnified party and the
indemnifying party and the indemnified party shall have reasonably concluded (based on the advice of counsel to the indemnified person) that there may be legal defenses available to it and/or other indemnified parties that are different from or
additional to those available to the indemnifying party; (iii) the indemnifying party shall not have employed counsel reasonably satisfactory to the indemnified party to represent the indemnified party within a reasonable time after notice of
the institution of such action; or (iv) the indemnifying party shall authorize the indemnified party to employ separate counsel at the expense of the indemnifying party. It is understood and agreed that the indemnifying person shall not, in
connection with any proceeding or separate but related or substantially similar proceedings in the same jurisdiction arising out of the same general allegations or circumstances, be liable for the reasonable fees and expenses of more than one
separate firm (in addition to any local counsel) representing the indemnified parties under paragraph (a) or paragraph (b) of this 

  

 27 

 
Section 8, as the case may be, who are parties to such action or actions. Any such separate firm for any Participants shall be designated in writing by
Participants who sold a majority in interest of the Registrable Securities and Exchange Securities sold by all such Participants in the case of paragraph (a) of this Section 8 or the Company in the case of paragraph (b) of this
Section 8. In the event that any Participants are indemnified persons collectively entitled, in connection with a proceeding or separate but related or substantially similar proceedings in a single jurisdiction, to the payment of fees and
expenses of a single separate firm under this Section 8(c), and any such Participants cannot agree to a mutually acceptable separate firm to act as counsel thereto, then such separate firm for all such Indemnified Persons shall be designated in
writing by Participants who sold a majority in interest of the Registrable Securities and Exchange Securities sold by all such Participants. An indemnifying party will not, without the prior written consent of the indemnified parties, settle or
compromise or consent to the entry of any judgment with respect to any pending or threatened claim, action, suit or proceeding in respect of which indemnification or contribution may be sought hereunder (whether or not the indemnified parties are
actual or potential parties to such claim or action) unless such settlement, compromise or consent includes an unconditional release of each indemnified party from all liability arising out of such claim, action, suit or proceeding and does not
include any statement as to, or any admission of, fault, culpability or failure to act by or on behalf of any indemnified party. All fees and expenses reimbursed pursuant to this paragraph (c) shall be reimbursed as they are incurred.

 (d) After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof and
approval by such indemnified party of counsel appointed to defend such action, the indemnifying party will not be liable to such indemnified party under this Section 8 for any legal or other expenses, other than reasonable costs of
investigation, subsequently incurred by such indemnified party in connection with the defense thereof, unless (i) the indemnified party shall have employed separate counsel in accordance with the third sentence of paragraph (c) of this
Section 8 or (ii) the indemnifying party has authorized in writing the employment of counsel for the indemnified party at the expense of the indemnifying party. After such notice from the indemnifying party to such indemnified party, the
indemnifying party will not be liable for the costs and expenses of any settlement of such action effected by such indemnified party without the prior written consent of the indemnifying party (which consent shall not be unreasonably withheld),
unless such indemnified party waived in writing its rights under this Section 8, in which case the indemnified party may effect such a settlement without such consent. 
 (e) In circumstances in which the indemnity agreement provided for in the preceding paragraphs of this Section 8 is unavailable to,
or insufficient to hold harmless, an indemnified party in respect of any losses, claims, damages or liabilities (or actions in respect thereof) (other than by virtue of the failure of an indemnified party to notify the indemnifying party of its
right to indemnification pursuant to paragraph (a) or (b) of this Section 8, where such failure materially prejudices the indemnifying party (through the forfeiture of substantial rights or defenses)), each indemnifying party, in
order to provide for just and equitable contribution, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (or actions in 

  

 28 

 
respect thereof) in such proportion as is appropriate to reflect (i) the relative benefits received by the indemnifying party or parties on the one hand
and the indemnified party on the other from the offering of the Securities or (ii) if the allocation provided by the foregoing clause (i) is not permitted by applicable law, not only such relative benefits but also the relative fault of
the indemnifying party or parties on the one hand and the indemnified party on the other in connection with the statements or omissions or alleged statements or omissions that resulted in such losses, claims, damages or liabilities (or actions in
respect thereof). The relative benefits received by the Company and the Guarantors on the one hand and such Participant on the other shall be deemed to be in the same proportion that the total net proceeds from the offering (before deducting
expenses) of the Securities received by the Company bear to the total discounts and commissions received by such Participant in connection with the sale of the Securities (or if such Participant did not receive discounts or commissions, the value or
receiving the Securities). The relative fault of the parties shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact
relates to information supplied by the Company and the Guarantors on the one hand, or the Participants on the other, the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission
or alleged statement or omission, and any other equitable considerations appropriate in the circumstances. The parties agree that it would not be equitable if the amount of such contribution were determined by pro rata or per capita allocation or by
any other method of allocation that does not take into account the equitable considerations referred to in the first sentence of this paragraph (e). Notwithstanding any other provision of this paragraph (e), no Participant shall be obligated to make
contributions hereunder that in the aggregate exceed the total discounts, commissions and other compensation or net proceeds on the sale of Securities received by such Participant in connection with the sale of the Securities, less the aggregate
amount of any damages that such Participant has otherwise been required to pay by reason of the untrue or alleged untrue statements or the omissions or alleged omissions to state a material fact, and no person guilty of fraudulent misrepresentation
(within the meaning of Section 11(f) of the Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. For purposes of this paragraph (d), each person, if any, who controls a Participant
within the meaning of Section 15 of the Act or Section 20 of the Exchange Act shall have the same rights to contribution as the Participants, and each director of the Company and the Guarantors, each officer of the Company and the
Guarantors and each person, if any, who controls the Company and the Guarantors within the meaning of Section 15 of the Act or Section 20 of the Exchange Act, shall have the same rights to contribution as the Company. 
  

	 	9.	Rules 144 and 144A 

 The Company
covenants and agrees that it will use reasonable best efforts to file the reports required to be filed by it under the Securities Act and the Exchange Act and the rules and regulations adopted by the SEC thereunder in a timely manner in accordance
with the requirements of the Securities Act and the Exchange Act and, if at any time the Company is not required to file such reports, the Company will, upon the request of any Holder or beneficial owner of Registrable Securities, make available
such 

  

 29 

 
information necessary to permit sales pursuant to Rule 144A. The Company further covenants and agrees, for so long as any Registrable Securities remain
outstanding that it will take such further action as any Holder of Registrable Securities may reasonably request, all to the extent required from time to time to enable such holder to sell Registrable Securities without registration under the
Securities Act within the limitation of the exemptions provided by Rule 144 under the Securities Act and Rule 144A unless the Company is then subject to Section 13 or 15(d) of the Exchange Act and reports filed thereunder satisfy the
information requirements of Rule 144A then in effect. 
  

	 	10.	Underwritten Registrations 

 The
Company shall not be required to assist in an underwritten offering unless requested by the Holders of a majority in aggregate principal amount of the Registrable Securities. If any of the Registrable Securities covered by any Shelf Registration are
to be sold in an underwritten offering, the investment banker or investment bankers and manager or managers that will manage the offering will be selected by the Holders of a majority in aggregate principal amount of such Registrable Securities
included in such offering and shall be reasonably acceptable to the Company. 
 No Holder of Registrable Securities may
participate in any underwritten registration hereunder unless such Holder (a) agrees to sell such Holder’s Registrable Securities on the basis provided in any underwriting arrangements approved by the Persons entitled hereunder to approve
such arrangements and (b) completes and executes all questionnaires, powers of attorney, indemnities, underwriting agreements and other documents required under the terms of such underwriting arrangements. 
  

	 	11.	Miscellaneous 

 (a) No
Inconsistent Agreements. Neither the Company nor any Guarantor has, as of the date hereof, and the Company and the Guarantors shall not, after the date of this Agreement, enter into any agreement with respect to any of its securities that is
inconsistent with the rights granted to the Holders of Registrable Securities in this Agreement or otherwise conflicts with the provisions hereof. The rights granted to the Holders hereunder do not in any way conflict with and are not inconsistent
with the rights granted to the holders of the Company other issued and outstanding securities under any such agreements. The Company and the Guarantors shall not enter into any agreement with respect to any of its securities which will grant to any
Person piggy-back registration rights with respect to any Registration Statement. 
 (b) Adjustments Affecting Registrable
Securities. The Company and the Guarantors shall not, directly or indirectly, take any action with respect to the Registrable Securities as a class that would adversely affect the ability of the Holders of Registrable Securities to include such
Registrable Securities in a registration undertaken pursuant to this Agreement. 
 (c) Amendments and Waivers. The
provisions of this Agreement may not be amended, modified or supplemented, and waivers or consents to departures from the 

  

 30 

 
provisions hereof may not be given, otherwise than with the prior written consent of (I) the Company, and (II) (A) the Holders of not less than a
majority in aggregate principal amount of the then outstanding Registrable Securities and (B) in circumstances that would adversely affect the Participating Broker-Dealers, the Participating Broker-Dealers holding not less than a majority in
aggregate principal amount of the Exchange Notes held by all Participating Broker-Dealers (and, with respect to the provisions of Section 4 hereof, the written consent of the Market-Maker); provided, however, that Section 8
and this Section 11(c) may not be amended, modified or supplemented without the prior written consent of each Holder and each Participating Broker-Dealer (including any person who was a Holder or Participating Broker-Dealer of Registrable
Securities or Exchange Securities, as the case may be, disposed of pursuant to any Registration Statement) affected by any such amendment, modification or supplement. Notwithstanding the foregoing, a waiver or consent to depart from the provisions
hereof with respect to a matter that relates exclusively to the rights of Holders of Registrable Securities whose securities are being sold pursuant to a Registration Statement and that does not directly or indirectly affect, impair, limit or
compromise the rights of other Holders of Registrable Securities may be given by Holders of at least a majority in aggregate principal amount of the Registrable Securities being sold pursuant to such Registration Statement. 
 (d) Notices. All notices and other communications (including, without limitation, any notices or other communications to the
Trustee) provided for or permitted hereunder shall be made in writing by hand-delivery, registered first-class mail, next-day air courier or facsimile: 
 (i) if to a Holder of the Registrable Securities, any Participating Broker-Dealer or the Market-Maker, at the most current address of such Holder, Participating Broker-Dealer or the Market-Maker, as the case may be,
set forth on the records of the registrar under the Indenture, with a copy in like manner to the Initial Purchasers as follows: 
 Goldman,
Sachs & Co. 
 85 Broad Street, 20th Floor 
 New York, New
York 10004 
 Attention: Eric Braunstein 
 with a copy to: 
 Latham & Watkins LLP 
 885 Third Avenue 
 New York, New York 10022

 Facsimile No.: (212) 751-4864 
 Attention: Senet S. Bischoff, Esq. 
 (ii) if to the Initial Purchasers, at the address specified in
Section 11(d)(i); 
  

 31 

 (iii) if to the Company, at the address as follows: 
 SunGard Data Systems Inc. 
 680 East
Swedesford Road 
 Wayne, Pennsylvania 19087 
 Facsimile No.: (610) 687-3725 
 Attention: General Counsel 
 with a copy to: 
 Simpson Thacher &
Bartlett LLP 
 425 Lexington Ave. 
 New York, New York 10017 
 Facsimile No.: (212) 455-2502 
 Attention: Richard A. Fenyes, Esq. 
 All such notices and communications shall be deemed to have been duly given: when delivered by hand, if personally delivered; five Business Days after being deposited in the mail, postage prepaid, if mailed; one Business Day after being
timely delivered to a next-day air courier; and upon written confirmation, if sent by facsimile. 
 Copies of all such
notices, demands or other communications shall be concurrently delivered by the Person giving the same to the Trustee at the address and in the manner specified in such Indenture. 
 (e) Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon the successors and assigns of each of
the parties hereto, the Holders and the Participating Broker-Dealers; provided, however, that nothing herein shall be deemed to permit any assignment, transfer or other disposition of Registrable Securities in violation of the terms of
the Purchase Agreement or the Indenture. 
 (f) Counterparts. This Agreement may be executed in any number of
counterparts and by the parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. 
 (g) Headings. The headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect the
meaning hereof. 
 (h) Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH
THE LAWS OF THE STATE OF NEW YORK, AS APPLIED TO CONTRACTS MADE AND PERFORMED ENTIRELY WITHIN THE STATE OF NEW YORK. EACH OF THE PARTIES HEREBY WAIVE ANY RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR RELATING TO
THIS AGREEMENT. 
  

 32 

 (i) Severability. If any term, provision, covenant or restriction of this
Agreement is held by a court of competent jurisdiction to be invalid, illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full force and effect and shall in no way be
affected, impaired or invalidated, and the parties hereto shall use their best efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated by such term, provision, covenant or
restriction. It is hereby stipulated and declared to be the intention of the parties that they would have executed the remaining terms, provisions, covenants and restrictions without including any of such that may be hereafter declared invalid,
illegal, void or unenforceable. 
 (j) Notes Held by the Company or Its Affiliates. Whenever the consent or approval of
Holders of a specified percentage of Registrable Securities is required hereunder, Registrable Securities held by the Company or its affiliates (as such term is defined in Rule 405 under the Securities Act) shall not be counted in determining
whether such consent or approval was given by the Holders of such required percentage. 
 (k) Third-Party
Beneficiaries. Holders of Registrable Securities and Participating Broker-Dealers are intended third-party beneficiaries of this Agreement, and this Agreement may be enforced by such Persons. 
 (l) Entire Agreement. This Agreement, together with the Purchase Agreement and the Indenture, is intended by the parties as a final
and exclusive statement of the agreement and understanding of the parties hereto in respect of the subject matter contained herein and therein and any and all prior oral or written agreements, representations, or warranties, contracts,
understandings, correspondence, conversations and memoranda between the Holders on the one hand and the Company and the Guarantors on the other, or between or among any agents, representatives, parents, subsidiaries, affiliates, predecessors in
interest or successors in interest with respect to the subject matter hereof and thereof are merged herein and replaced hereby. 
  

 33 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

  

			
	SUNGARD DATA SYSTEMS INC.
		
	By:	 	*
		 	 Name: Michael J. Ruane
 Title: Senior Vice
President–Finance & Chief Financial Officer

	
	 ONLINE SECURITIES PROCESSING INC.
 SIS EUROPE
HOLDINGS LLC
 SRS DEVELOPMENT INC.
 SUNGARD AVAILABILITY SERVICES
LTD.
 SUNGARD CANADA HOLDINGS INC.
 SUNGARD DEVELOPMENT
CORPORATION
 SUNGARD DIS INC.
 SUNGARD INVESTMENT VENTURES LLC

 SUNGARD SOFTWARE, INC.
 SUNGARD SSF CANADA HOLDINGS
INC.

		
	By:	 	*
		 	 Name: Michael J. Ruane
 Title:
President

	
	 ADVANCED PORTFOLIO TECHNOLOGIES, INC.
 APPLIED SECURITIES TECHNICAL EVALUATION & CONSULTING, INC.
 AUTOMATED SECURITIES CLEARANCE LLC
 BANCWARE LLC
 COOPERATIVE RESEARCH SERVICES, INC.
 DERIVATECH RISK SOLUTIONS INC.
 EXETER EDUCATIONAL MANAGEMENT SYSTEMS, INC.

 HTE-UCS, INC.
 INFLOW LLC
 SUNGARD ASIA PACIFIC INC.
 SUNGARD ASSET MANAGEMENT SYSTEMS LLC
 SUNGARD AVAILABILITY SERVICES LP
 SUNGARD AVANTGARD LLC
 SUNGARD BUSINESS SYSTEMS LLC
 SUNGARD COMPUTER SERVICES LLC
 SUNGARD CONSULTING SERVICES LLC
 SUNGARD CORBEL LLC
 SUNGARD CSA LLC
 SUNGARD ENERGY SYSTEMS INC.
 SUNGARD EPROCESS INTELLIGENCE LLC
 SUNGARD ERISK INC.
 SUNGARD EXPERT SOLUTIONS LLC

 Signature Page to Registration Rights Agreement 

									
		 		 	 SUNGARD FINANCIAL SYSTEMS LLC
 SUNGARD
HIGHER EDUCATION ADVANCEMENT INC.
 SUNGARD HIGHER EDUCATION INC.
 SUNGARD HIGHER EDUCATION MANAGED SERVICES INC.
 SUNGARD INSTITUTIONAL PRODUCTS LLC
 SUNGARD INVESTMENT SYSTEMS LLC
 SUNGARD IWORKS LLC
 SUNGARD IWORKS P&C (US) INC.
 SUNGARD KIODEX INC.
 SUNGARD NETWORK SOLUTIONS INC.
 SUNGARD PUBLIC SECTOR BI-TECH LLC
 SUNGARD PUBLIC SECTOR INC.
 SUNGARD PUBLIC SECTOR PENTAMATION INC.

SUNGARD REFERENCE DATA SOLUTIONS LLC
 SUNGARD SAS HOLDINGS INC.

SUNGARD SECURITIES FINANCE INTERNATIONAL LLC
 SUNGARD SECURITIES FINANCE
LLC
 SUNGARD SHAREHOLDER SYSTEMS LLC
 SUNGARD SYSTEMS
INTERNATIONAL INC.
 SUNGARD TECHNOLOGY SERVICES LLC
 SUNGARD
TRUST SYSTEMS LLC
 SUNGARD VERICENTER, INC.
 SUNGARD VPM INC.

 SUNGARD WORKFLOW SOLUTIONS LLC
 WALL STREET CONCEPTS
LLC

					
		 		 		 	By:	 	*
		 		 		 		 	 Name: Michael J. Ruane
 Title: Vice
President

	  
 * The signature appearing immediately below
shall serve as a signature at each place indicated with an “*” on this page:
  

					
		 		 		 	By:	 	/S/    MICHAEL J. RUANE        

		 		 		 		 	Michael J. Ruane

  
  
  
  
  
  
  
  
  
  
  
 Signature Page to Registration Rights Agreement 

 The foregoing Agreement is hereby confirmed and accepted as of the date first above written. 
 GOLDMAN, SACHS & CO. 
 As Representative of the several Initial
Purchasers. 
  

			
		
	By:	 	/s/    Goldman, Sachs & Co.

 Signature Page to Registration Rights Agreement 

 SCHEDULE I 
 THE GUARANTORS 
  

			
	ONLINE SECURITIES PROCESSING INC.	  	SUNGARD EPROCESS INTELLIGENCE LLC
	SIS EUROPE HOLDINGS LLC	  	SUNGARD ERISK INC.
	SRS DEVELOPMENT INC.	  	SUNGARD EXPERT SOLUTIONS LLC
	SUNGARD AVAILABILITY SERVICES LTD.	  	SUNGARD FINANCIAL SYSTEMS LLC
	SUNGARD CANADA HOLDINGS INC.	  	SUNGARD HIGHER EDUCATION
	SUNGARD DEVELOPMENT CORPORATION	  	ADVANCEMENT INC.
	SUNGARD DIS INC.	  	SUNGARD HIGHER EDUCATION INC.
	SUNGARD INVESTMENT VENTURES LLC	  	SUNGARD HIGHER EDUCATION MANAGED SERVICES INC.
	SUNGARD SOFTWARE, INC.	  	SUNGARD INSTITUTIONAL PRODUCTS LLC
	SUNGARD SSF CANADA HOLDINGS INC.	  	SUNGARD INVESTMENT SYSTEMS LLC
	ADVANCED PORTFOLIO TECHNOLOGIES, INC.	  	SUNGARD IWORKS LLC
	APPLIED SECURITIES TECHNICAL	  	SUNGARD IWORKS P&C (US) INC.
	EVALUATION & CONSULTING, INC.	  	SUNGARD KIODEX INC.
	AUTOMATED SECURITIES CLEARANCE LLC	  	SUNGARD NETWORK SOLUTIONS INC.
	BANCWARE LLC	  	SUNGARD PUBLIC SECTOR BI-TECH LLC
	COOPERATIVE RESEARCH SERVICES, INC.	  	SUNGARD PUBLIC SECTOR INC.
	DERIVATECH RISK SOLUTIONS INC.	  	SUNGARD PUBLIC SECTOR PENTAMATION INC.
	EXETER EDUCATIONAL MANAGEMENT SYSTEMS, INC.	  	SUNGARD REFERENCE DATA SOLUTIONS LLC
	HTE-UCS, INC.	  	SUNGARD SAS HOLDINGS INC.
	INFLOW LLC	  	SUNGARD SECURITIES FINANCE INTERNATIONAL LLC
	SUNGARD ASIA PACIFIC INC.	  	SUNGARD SECURITIES FINANCE LLC
	SUNGARD ASSET MANAGEMENT SYSTEMS LLC	  	SUNGARD SHAREHOLDER SYSTEMS LLC
	SUNGARD AVAILABILITY SERVICES LP	  	SUNGARD SYSTEMS INTERNATIONAL INC.
	SUNGARD AVANTGARD LLC	  	SUNGARD TECHNOLOGY SERVICES LLC
	SUNGARD BUSINESS SYSTEMS LLC	  	SUNGARD TRUST SYSTEMS LLC
	SUNGARD COMPUTER SERVICES LLC	  	SUNGARD VERICENTER, INC.
	SUNGARD CONSULTING SERVICES LLC	  	SUNGARD VPM INC.
	SUNGARD CORBEL LLC	  	SUNGARD WORKFLOW SOLUTIONS LLC
	SUNGARD CSA LLC	  	WALL STREET CONCEPTS LLC
	SUNGARD ENERGY SYSTEMS INC.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00163-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00163-of-00352.parquet"}]]