Document:

Exhibit 10.1

 

SHARE REPURCHASE
AGREEMENT

 

This
SHARE REPURCHASE AGREEMENT (this “Agreement”) is entered into as of November 6, 2022 by and between AmerisourceBergen
Corporation, a Delaware corporation (the “Company”), and Walgreens Boots Alliance Holdings LLC, a Delaware limited
liability company and a stockholder of the Company (the “Selling Stockholder”).

 

Background

 

A.            The
Selling Stockholder owns an aggregate of 52,854,867 shares of the Company’s common stock, par value $0.01 per share (the “Common
Stock”).

 

B.            The
Selling Stockholder wishes to sell to the Company, and the Company wishes to repurchase from the Selling Stockholder, shares of the Common
Stock held by the Selling Stockholder in the amount, at the price and upon the terms and conditions provided in this Agreement (the “Repurchase”).

 

C.            The
Selling Stockholder and the Company intend to commence an underwritten public offering (the
 “Public Offering”) of Common Stock held by the Selling Stockholder (the “Underwritten Shares”).

 

E.            The
Company intends to use cash on its balance sheet to complete the Repurchase.

 

F.            The
Finance Committee of the board of directors of the Company (the “Board”) recommended that the Board establish an offering
committee comprised of D. Mark Durcan, Kathleen W. Hyle, and Steven H. Collis (the “Offering Committee”) for the purposes
of approving the specific terms and conditions of the Repurchase and to take such actions with respect to the Repurchase as the Offering
Committee shall determine to be necessary and desirable.

 

G.            The
Offering Committee has reviewed and approved the Repurchase.

 

NOW,
THEREFORE, in consideration of the mutual covenants herein and other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the undersigned hereby agree as follows:

 

Agreement

 

1.            Repurchase.

 

(a)            Subject
to the terms and conditions of this Agreement, at the Closing (as defined below), the Selling Stockholder shall sell to the Company,
and the Company shall purchase, acquire and accept from the Selling Stockholder, shares of Common Stock (the “Repurchase Shares”)
at the Per Share Purchase Price (as defined below) in an amount equal to the following aggregate purchase price: (i) approximately
$500 million if the number of Underwritten Shares sold in the Public Offering multiplied by the Per Share Purchase Price (the “Aggregate
Sale Price”) equals $1.0 billion or more; or (ii) approximately $400 million if the Aggregate Sale Price is less than
$1.0 billion. The purchase price for each Repurchase Share shall be equal to the per share price
at which the Selling Stockholder sells the Underwritten Shares to the underwriter in the Public Offering, net of underwriting discounts
and commissions (the “Per Share Purchase Price”).

 

     

     

    

 

(b)            The
obligations of the Company and the Selling Stockholder to consummate the transactions contemplated by this Agreement shall be subject
to the fulfillment, at or prior to the Closing, of the closing of the Public Offering in accordance with the terms and conditions of
any underwriting or similar agreement by and among the Company, the Selling Stockholder and the underwriter named therein (the “Underwriting
Agreement”).

 

(c)            The
closing of the sale of the Repurchase Shares (the “Closing”) shall take place upon the same day as the closing of
the sale of the Underwritten Shares at the offices of Morgan, Lewis & Bockius LLP, 1701 Market Street, Philadelphia, Pennsylvania
19103, or at such other time and place as may be agreed upon by the Company and the Selling Stockholder. At the Closing, the Selling
Stockholder shall deliver to the Company the Repurchase Shares, and the Company agrees to deliver to the Selling Stockholder by wire
transfer of immediately available funds that the Selling Stockholder shall designate in writing at least two business days prior to the
Closing Date the Per Share Purchase Price multiplied by the number of Repurchase Shares being sold by the Selling Stockholder.

 

2.            Company
Representations. In connection with the transactions contemplated hereby, the Company represents and warrants to the Selling Stockholder
that:

 

(a)            The
Company is a corporation duly incorporated and validly existing under the laws of the State of Delaware. The Company has the requisite
corporate power and authority to execute, deliver and perform its obligations under this Agreement and to consummate the transactions
contemplated hereby.

 

(b)            This
Agreement has been duly authorized, executed and delivered by the Company and constitutes a valid and binding agreement of the Company
enforceable in accordance with its terms, except to the extent that enforcement thereof may be limited by bankruptcy, insolvency, reorganization
or other laws affecting enforcement of creditors’ rights or by general equitable principles.

 

(c)            The
compliance by the Company with this Agreement and the consummation of the transactions herein contemplated will not conflict with, result
in a breach or violation or imposition of any lien, charge or encumbrance upon any property or assets of the Company or its subsidiaries
or constitute a default under (i) the terms of any indenture, contract, lease, mortgage, deed of trust, note agreement, loan agreement
or other agreement, obligation, condition, covenant or instrument to which the Company or any of its subsidiaries is a party or by which
the Company or any of its subsidiaries is bound or to which any of the property or assets of the Company or any of its subsidiaries is
subject, (ii) any provision of the Amended and Restated Certificate of Incorporation or Amended and Restated Bylaws of the Company
or organizational documents of the Company’s subsidiaries or (iii) any statute, law, order, rule, regulation, judgment or
decree of any court, regulatory body, administrative agency or governmental agency or body, arbitrator or other authority having jurisdiction
over the Company or any of its subsidiaries or any of their properties; except, in the case of clauses (i) and (iii), as would not
impair in any material respect the consummation of the Company’s obligations hereunder or reasonably be expected to have a material
adverse effect on the financial position, stockholders’ equity or results of operations of the Company and its subsidiaries, taken
as a whole, in the case of each such clause, after giving effect to any consents, approvals, authorizations, orders, registrations, qualifications,
waivers and amendments as will have been obtained or made as of the date of this Agreement; and no consent, approval, authorization,
order, registration or qualification of or with any such court or governmental agency or body is required for the execution, delivery
and performance by the Company of its obligations under this Agreement, including the consummation by the Company of the transactions
contemplated by this Agreement.

 

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(d)            The
Company will have as of the Closing sufficient cash available to pay the Purchase Price to the Selling Stockholder on the terms and conditions
contained herein.

 

3.            Representations
of the Selling Stockholder. In connection with the transactions contemplated hereby, the Selling Stockholder represents and warrants
to the Company that:

 

(a)            The
Selling Stockholder is duly organized or formed and validly existing under the laws of its state of organization or formation.

 

(b)            All
consents, approvals, authorizations and orders necessary for the execution and delivery by the Selling Stockholder of this Agreement
and for the sale and delivery of the Repurchase Shares to be sold by the Selling Stockholder hereunder, have been obtained, except for
such consents, approvals, authorizations and orders as would not impair in any material respect the consummation of the Selling Stockholder’s
obligations hereunder; and the Selling Stockholder has full right, power and authority to enter into this Agreement and to sell, assign,
transfer and deliver the Repurchase Shares to be sold by the Selling Stockholder hereunder.

 

(c)            This
Agreement has been duly authorized, executed and delivered by the Selling Stockholder and constitutes a valid and binding agreement of
the Selling Stockholder, enforceable in accordance with its terms, except to the extent that enforcement thereof may be limited by bankruptcy,
insolvency, reorganization or other laws affecting enforcement of creditors’ rights or by general equitable principles.

 

(d)            The
sale of the Repurchase Shares by the Selling Stockholder hereunder and the compliance by the Selling Stockholder with all of the provisions
of this Agreement and the consummation of the transactions contemplated herein (i) will not conflict with or result in a breach
or violation of any of the terms or provisions of, or constitute a default under, any indenture, mortgage, deed of trust, loan agreement
or other agreement or instrument to which the Selling Stockholder is a party or by which the Selling Stockholder is bound or to which
any of the property or assets of the Selling Stockholder is subject, (ii) nor will such action result in any violation of the provisions
of (x) the certificate of formation and limited liability company agreement of the Selling Stockholder or (y) any statute or
any order, rule or regulation of any court or governmental agency or body having jurisdiction over the Selling Stockholder or any
of its properties or assets; except in the case of clause (i) or clause (ii)(y), for such conflicts, breaches or violations which
would not, individually or in the aggregate, reasonably be expected to have a material adverse effect on the Selling Stockholder’s
ability to perform its obligations hereunder.

 

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(e)            The
Selling Stockholder is the record owner and shares beneficial ownership of the Repurchased Shares, as applicable, to be sold by the Selling
Stockholder hereunder free and clear of all liens, encumbrances, equities and claims other than any liens, encumbrances, equities and
claims arising under the Amended and Restated AmerisourceBergen Shareholders Agreement between the Selling Stockholder, or its affiliates,
and the Company, and, assuming that the Company purchases such Repurchase Shares without notice of any adverse claim (within the meaning
of Section 8-105 of the New York Uniform Commercial Code as in effect in the State of New York from time to time (the “UCC”)),
upon sale and delivery of, and payment for, such securities, as provided herein, the Company will own the securities, free and clear
of all liens, encumbrances, equities and claims whatsoever.

 

(f)            The
Selling Stockholder has received all information it considers necessary or appropriate for deciding whether to consummate the Repurchase.
The Selling Stockholder has had an opportunity to ask questions and receive answers from the Company regarding the terms and conditions
of the Company’s purchase of the Repurchase Shares and the business and financial condition of the Company, and to obtain additional
information (to the extent the Company possessed such information or could acquire it without unreasonable effort or expense) necessary
to verify the accuracy of any information furnished to them or to which it had access. The Selling Stockholder has had the opportunity
to discuss with its tax advisors the consequences of the Repurchase. The Selling Stockholder has not received, nor is it relying on,
any representations or warranties from the Company other than as a provided herein, and the Company hereby disclaims any other express
or implied representations or warranties with respect to itself.

 

4.            Termination.
This Agreement may be terminated by mutual written consent of the Company and the Selling Stockholder. This Agreement shall automatically
terminate and be of no further force and effect, in the event that, (i) the commencement of the Public Offering has not been publicly
announced within three business days after the date hereof or (ii) the conditions in paragraph 1(b) of this Agreement have
not been satisfied.

 

5.            Notices.
All notices, demands or other communications to be given or delivered under or by reason of the provisions of this Agreement will be
in writing and will be deemed to have been given when delivered personally, mailed by certified or registered mail, return receipt requested
and postage prepaid, or sent via a nationally recognized overnight courier, or sent via email (receipt of which is confirmed) to the
recipient. Such notices, demands and other communications will be sent to the addresses indicated below:

 

To the Company:

 

AmerisourceBergen Corporation

1 West First Avenue

Conshohocken, Pennsylvania

Attention: James Cleary

   Elizabeth Campbell

   Kourosh
Pirouz

E-mail Address: jcleary@amerisourcebergen.com

      kpirouz@amerisourcebergen.com

      ecampbell@amerisourcebergen.com

 

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With a copy to (which shall not
constitute notice):

 

Morgan,
Lewis & Bockius LLP

1701 Market Street

Philadelphia,
Pennsylvania 19103

Attention: James W. McKenzie, Jr.

   Andrew T. Budreika

E-mail Address: james.mckenzie@morganlewis.com

      andrew.budreika@morganlewis.com

 

To the Selling Stockholder:

 

Walgreens Boots Alliance Holdings
LLC

c/o Walgreens Boots Alliance, Inc

108 Wilmot Road

Deerfield, IL 60015

Attention: Omorlie Harris

   Joseph Greenberg

   Jordan Lenz

E-mail Address: Omorlie.harris@wba.com

     Joseph.greenberg@wba.com

     Jordan.lenz@wba.com

 

With a copy to (which shall not
constitute notice):

 

Cleary Gottlieb Steen &
Hamilton LLP, counsel to the Selling Stockholder One Liberty Plaza New York, New York 10006

Attention: Lillian Tsu

E-mail
Address: ltsu@cgsh.com

Telephone: (212) 225-2130

 

or such other address
or to the attention of such other person as the recipient party shall have specified by prior written notice to the sending party.

 

6.            Miscellaneous.

 

(a)            Survival
of Representations and Warranties. All representations and warranties contained herein or made in writing by any party in connection
herewith shall survive the execution and delivery of this Agreement and the consummation of the transactions contemplated hereby for
a period of six (6) months.

 

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

 

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(c)            Complete
Agreement. This Agreement and any other agreements ancillary hereto and executed and delivered on the date hereof embody the complete
agreement and understanding between the parties and supersede and preempt any prior understandings, agreements, or representations by
or among the parties, written or oral, which may have related to the subject matter hereof in any way.

 

(d)            Counterparts.
This Agreement may be executed in separate counterparts, each of which is deemed to be an original and all of which taken together constitute
one and the same agreement.

 

(e)            Assignment;
Successors and Assigns. Neither this Agreement nor any of the rights, interests or obligations hereunder shall be assigned, in whole
or in part, by any of the parties without the prior written consent of the other parties. Subject to the preceding sentence, this Agreement
shall bind and inure to the benefit of and be enforceable by the Selling Stockholder and the Company and their respective successors
and permitted assigns. Any purported assignment not permitted under this paragraph shall be null and void.

 

(f)            No
Third Party Beneficiaries or Other Rights. This Agreement is for the sole benefit of the parties and their successors and permitted
assigns and nothing herein express or implied shall give or shall be construed to confer any legal or equitable rights or remedies to
any person other than the parties to this Agreement and such successors and permitted assigns.

 

(g)            Governing
Law; Jurisdiction. The Agreement and all disputes arising out of or related to this Agreement (whether in contract, tort or otherwise)
will be governed by and construed in accordance with the laws of the State of New York. EACH OF THE PARTIES TO THIS AGREEMENT IRREVOCABLY
WAIVES ANY AND ALL RIGHTS TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT. Each of the parties (i) irrevocably
submits to the personal jurisdiction of any state or federal court sitting in Manhattan, as well as to the jurisdiction of all courts
to which an appeal may be taken from such courts, in any suit, action or proceeding relating to or arising out of, under or in connection
with this Agreement, (ii) agrees that all claims in respect of such suit, action or proceeding, whether arising under contract,
tort or otherwise, shall be brought, heard and determined exclusively in such courts, (iii) agrees that it shall not attempt to
deny or defeat such personal jurisdiction by motion or other request for leave from such court, and (iv) agrees not to bring any
action or proceeding relating to or arising out of, under or in connection with this Agreement or the Company’s business or affairs
in any other court, tribunal, forum or proceeding. Each of the parties waives any defense of inconvenient forum to the maintenance of
any action or proceeding brought in accordance with this paragraph. Each of the parties agrees that service of any process, summons,
notice or document by U.S. registered mail to its address set forth herein shall be effective service of process for any action, suit
or proceeding brought against it in accordance with this paragraph, provided that nothing in the foregoing sentence shall affect the
right of any party to serve legal process in any other manner permitted by law.

 

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(h)            Mutuality
of Drafting. The parties have participated jointly in the negotiation and drafting of this Agreement. In the event an ambiguity or
question of intent or interpretation arises, this Agreement shall be construed as jointly drafted by the parties, and no presumption
or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provision of the Agreement.

 

(i)             Remedies.
The parties hereto agree and acknowledge that money damages will not be an adequate remedy for any breach of the provisions of this Agreement,
that any breach of the provisions of this Agreement shall cause the other parties irreparable harm, and that any party may in its sole
discretion apply to any court of law or equity of competent jurisdiction (without posting any bond or deposit) for specific performance
or other injunctive relief in order to enforce, or prevent any violations of, the provisions of this Agreement.

 

(j)            Amendment
and Waiver. The provisions of this Agreement may be amended, modified or waived only with the prior written consent of the Selling
Stockholder and the Company. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any
other provisions of this Agreement, nor shall any waiver constitute a continuing waiver. No failure by any party to insist upon strict
performance of any of the provisions of this Agreement or to exercise any right or remedy arising out of a breach thereof shall constitute
a waiver of any other provisions or any other breaches of this Agreement.

 

(k)            Further
Assurances. Each of the Company and the Selling Stockholder shall execute and deliver such additional documents and instruments and
shall take such further action as may be necessary or appropriate to effectuate fully the provisions of this Agreement.

 

(l)             Expenses.
Each of the Company and the Selling Stockholder shall bear its own respective expenses in connection with the drafting, negotiation,
execution and delivery of this Agreement and the consummation of the transactions contemplated hereby.

 

(m)           Interpretation.
The definitions in this Agreement are applicable to the singular as well as the plural forms of such terms.

 

[Signatures appear
on following page.]

 

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

 

	 	Company:
	 	 
	 	 
	 	AMERISOURCEBERGEN CORPORATION

 

		By:	/s/
                                            J.F. Quinn
	 	Name:	J.F. Quinn
		Title:	Senior Vice President
                                            and Corporate Treasurer

 

 

	 	Selling
                                            Stockholder:
	 	 
	 	 
	 	walgreens
                                        boots alliance holdings llc

 

		By:	/s/
                                            Joseph B. Amsbary, Jr.
	 	Name:	Joseph B. Amsbary, Jr.
		Title:	Senior Vice President
                                            and Secretary

 

[Signature Page to
Share Repurchase Agreement]EX-10.1

 Exhibit 10.1 

REGISTRATION RIGHTS AGREEMENT 

OF 
 CONSTELLATION
BRANDS, INC. 
 Dated as of November 10, 2022 

This REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is entered into as of November 10, 2022 (the “Effective
Date”), by and among the Stockholders listed on Exhibit A hereto (each a “Stockholder” and, collectively, the “Stockholders”) and Constellation Brands, Inc., a Delaware corporation (the
“Company”) and any Person who becomes a party hereto pursuant to Section 9(d). Capitalized terms used herein shall have the meaning assigned to such terms in the text of this Agreement or in
Section 1. 
 WHEREAS, effective as of the Reclassification Effective Time, the Company completed a
reclassification transaction (the “Reclassification”) pursuant to that certain Reclassification Agreement, dated as of June 30, 2022, by and among the Company and the other parties thereto (the “Reclassification
Agreement”); 
 WHEREAS, in connection with the Reclassification, the Company has agreed to grant the Stockholders
registration rights as set forth in this Agreement; and 
 WHEREAS, the Board of Directors of the Company has, among other things,
approved and adopted, and determined to have the Company enter into, effective as of the consummation of the Reclassification, this Agreement. 

NOW, THEREFORE, in consideration of the foregoing recitals and of the mutual promises hereinafter set forth, the parties hereto agree
as follows: 
 AGREEMENT 

1. Definitions. As used in this Agreement, the following capitalized terms shall have the following respective meanings: 

“Affiliate” means, with respect to any Person, any other Person directly or indirectly controlling, controlled by or under
common control with, such person. 
 “Agreement” has the meaning given to such term in the Preamble. 

“Automatic Shelf Registration Statement” has the meaning given to such term in Section 2(d). 

“Block Sale” means the sale of shares of Class A Common Stock to one or several purchasers in a registered transaction
by means of a bought deal, a block trade or a direct sale. 
 “Board” means the board of directors of the Company. 

“Business Day” means any day that is not a Saturday, a Sunday or other day on which banks are required or authorized by law
to be closed in New York City. 
 “Class 1 Common Stock” means the Class 1 common stock of the
Company, par value $0.01 per share. 
 “Class A Common Stock” means the Class A common stock of the
Company, par value $0.01 per share. 
 “Company” has the meaning given to such term in the Preamble. 

  
 1 

 “control” (including the terms “controlling”,
“controlled by” and “under common control with”), with respect to the relationship between or among two or more Persons, means the possession, directly or indirectly, of the power to direct or cause the direction of
the affairs or management of a Person, whether through the ownership of voting securities, as trustee or executor, by contract or otherwise. 

“Covered Person” has the meaning given to such term in Section 6(a). 

“Demand Registration” has the meaning given to such term in Section 2(e). 

“Demand Request” has the meaning defined in Section 2(e). 

“Effective Date” has the meaning given to such term in the Preamble. 

“Effective Period” has the meaning given to such term in Section 2(g). 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and any successor statute thereto and the rules and
regulations of the SEC promulgated thereunder. 
 “FINRA” means the Financial Industry Regulatory Authority. 

“Free Writing Prospectus” has the meaning given to such term in Section 4(a). 

“Indemnified Party” has the meaning given to such term in Section 6(c). 

“Indemnifying Party” has the meaning given to such term in Section 6(c). 

“Losses” has the meaning given to such term in Section 6(a). 

“Marketed Underwritten Offering” means (i) an Underwritten Offering pursuant to a Demand Registration where the plan of
distribution contemplates a customary “road show” (including an “electronic road show”) or other substantial marketing effort by the Company and the underwriters or (ii) a Marketed Underwritten Shelf Offering. 

“Marketed Underwritten Shelf Offering” has the meaning given to such term in Section 2(b). 

“Person” means any individual, partnership, joint venture, corporation, limited liability company, trust, unincorporated
organization, government or any department or agency thereof or any other entity. 
 “Piggyback Registration” has the
meaning given to such term in Section 3(a). 
 “Piggybacking Holder” has the meaning given to
such term in Section 2(h)(iii). 
 “Prospectus” means the prospectus included in any Registration
Statement (including a prospectus that discloses information previously omitted from a prospectus filed as part of an effective Registration Statement in reliance upon Rule 430A promulgated under the Securities Act), as amended or supplemented by
any prospectus supplement, relating to Registrable Securities, 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. 
 “Reclassification Agreement” has the meaning given to such term in the Recitals. 

“Registration Expenses” has the meaning given to such term in Section 7. 

  
 2 

 “Registrable Securities” means, as of any date of determination, any shares
of Class A Common Stock (including, for the avoidance of doubt, any such shares received on conversion of any Class 1 Common Stock) held by a Stockholder and any equity securities or other equity interests issued or issuable, directly or
indirectly, with respect to the shares of Class A Common Stock by way of conversion or exchange thereof or stock dividends, stock splits or in connection with a combination of shares, reclassification, recapitalization, merger, consolidation or
other reorganization or distribution. As to any particular Registrable Securities, once issued, such securities shall cease to be Registrable Securities when (i) they are disposed of pursuant to an effective Registration Statement under the
Securities Act following the execution of this Agreement, (ii) they are sold to the public pursuant to Rule 144 or Rule 145 (or other exemption from registration under the Securities Act), (iii) they shall have ceased to be outstanding or
(iv) they have been sold in a private transaction (other than to another Stockholder or Family-Related Person). Notwithstanding the foregoing, any Registrable Securities held by any Person that may be sold under Rule 144(b)(1)(i) without
limitation under any of the other requirements of Rule 144 will be deemed not to be Registrable Securities if the Stockholders collectively own less than 3% of the outstanding Class A Common Stock. 

“Registration Statement” means any registration statement of the Company filed with the SEC under the Securities Act which
covers any of the Registrable Securities pursuant to the provisions of this Agreement, including any Prospectus, Free Writing 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 145”, “Rule 405” and “Rule 415” mean, in each case, such rule promulgated under the Securities Act (or any successor provision) by the SEC, as the same may be amended from time
to time, or any successor rule then in force. 
 “Sands Family” means Messrs. Robert and Richard Sands and other members of
their extended family and related entities. 
 “SEC” means the U.S. Securities and Exchange Commission or any other federal
agency at the time administering the Securities Act or the Exchange Act. 
 “Securities Act” means the Securities Act of
1933, as amended, and any successor statute thereto and the rules and regulations of the SEC promulgated thereunder. 
 “Selling
Expenses” means all underwriting and brokerage discounts, selling commissions and transfer taxes, if any, applicable to any sales of Registrable Securities under any Registration Statement. 

“Shelf Registration Statement” has the meaning given to such term in Section 2(a). 

“Shelf Takedown” has the meaning given to such term in Section 2(b). 

“Stockholder” or “Stockholders” has the meaning given to such term in the Preamble. 

“Subsidiary” means (i) any corporation of which a majority of the securities entitled to vote generally in the election
of directors thereof, at the time as of which any determination is being made, are owned by another entity, either directly or indirectly and (ii) any joint venture, general or limited partnership, limited liability company or other legal
entity in which an entity is the record or beneficial owner, directly or indirectly, of a majority of the voting interests or the general partner. 

“Underwritten Offering” means an offering registered under the Securities Act in which securities of the Company are sold to
one or more underwriters on a firm-commitment basis for reoffering to the public. 
 “WildStar” has the meaning given to
such term in Section 9(p). 
 “WKSI” has the meaning given to such term in
Section 2(d). 

  
 3 

 2. Registration Rights. 

(a) Shelf Registration. The Company shall use its reasonable best efforts to file with the SEC and have declared effective, as
promptly as practicable following the execution of this Agreement, a registration statement on Form S-3 or any comparable or successor form or forms or any similar short-form registration constituting a
“shelf” registration statement providing for the registration of, and the sale by the Stockholders on a continuous or delayed basis of, all of the Registrable Securities, pursuant to Rule 415 or otherwise (a “Shelf Registration
Statement”); provided that, notwithstanding anything to the contrary, the initial Shelf Registration Statement shall in any event be filed and declared effective no later than 30 days after the date hereof. The Company shall replace any
Shelf Registration Statement at or before expiration with a successor effective registration statement on Form S-3 (or any comparable or successor form or forms or, if the Company is not eligible to file a
registration statement on Form S-3, a successor effective registration statement on Form S-1 providing for the registration of, and the sale by the Stockholders on a
continuous or delayed basis of, all of the Registrable Securities, pursuant to Rule 415 or otherwise) to the extent any Stockholders hold any Registrable Securities. Any such successor registration statement shall be considered a “Shelf
Registration Statement” for the purposes of this Agreement. In the event the Company files a Shelf Registration Statement on Form S-1, the Company shall use its reasonable best efforts to convert it to a
Shelf Registration Statement on Form S-1 to a registration statement on Form S-3 as soon as practicable after the Company is eligible to use Form S-3. 
 (b) Shelf Takedowns. Subject to the provisions of
Section 2(c) hereof, the Stockholders shall be entitled, at any time and from time to time when a Shelf Registration Statement is effective, to sell Registrable Securities held by them pursuant to a Shelf Registration
Statement (each, a “Shelf Takedown”). The number of Shelf Takedowns that the Stockholders may effect pursuant to this Section 2(b) shall not be limited, provided that the number of Underwritten Offerings
where the plan of distribution contemplates a customary “road show” (including an “electronic road show”) or other substantial marketing effort by the Company and the underwriters (any such Underwritten Offering effected pursuant
to a Shelf Takedown, a “Marketed Underwritten Shelf Offering”) shall be limited to a total of one in any calendar year (and any such Marketed Underwritten Shelf Offering shall cover at least $100,000,000 worth of the then current
value of shares of Class A Common Stock (including, for the avoidance of doubt, any such shares received on conversion of any Class 1 Common Stock)), it being understood, for the avoidance of doubt, any Block Sale effected pursuant to a
Shelf Takedown shall not be considered a Marketed Underwritten Shelf Offering for the purposes hereof. Any Shelf Takedown may be made by and pursuant to any method or combination of methods legally available to the Stockholders (including an
underwritten offering, a direct sale to purchasers, a sale to or through brokers, dealers or agents, a sale over the internet, Block Sales, derivative transactions with third parties, sales in connection with short sales and other hedging
transactions). The Company shall comply with the applicable provisions of the Securities Act with respect to the disposition of all Registrable Securities covered by the Shelf Registration Statement in accordance with the intended methods of
disposition by the Stockholders participating in such Shelf Takedown. If the Stockholders desire to sell any Registrable Securities pursuant to a Shelf Takedown, then WildStar shall deliver to the Company a written notice specifying the number of
Registrable Securities the Stockholders desire to sell pursuant to such Shelf Takedown, and the Company will, as expeditiously as possible, subject to Section 2(i), consummate such Shelf Takedown. 

(c) Cooperation with Shelf Takedowns. Upon receipt of prior written notice by WildStar that the Stockholders intend to effect a
Shelf Takedown, the Company shall use its reasonable best efforts to cooperate in such Shelf Takedown, whether or not such Shelf Takedown constitutes an Underwritten Offering, by amending or supplementing the Prospectus related to such Shelf
Registration Statement as may be reasonably requested by WildStar for so long as any Stockholders hold Registrable Securities; provided that the Company shall not be required to so cooperate in any Underwritten Offering that is a Block Sale
pursuant to a Shelf Takedown if notice of such Underwritten Offering has not been delivered not less than three Business Days prior to the potential launch of such Block Sale. 

(d) Automatic Shelf Registration Statements. To the extent the Company is a well-known seasoned issuer (as defined in Rule 405)
(a “WKSI”) at a time when it is obligated to file a Shelf Registration Statement 

  
 4 

 
pursuant to this Agreement, the Company shall file such Shelf Registration Statement as an automatic shelf registration statement (as defined in Rule 405) on Form
S-3 (an “Automatic Shelf Registration Statement”) in accordance with the requirements of the Securities Act and the rules and regulations of the SEC thereunder, that covers the Registrable
Securities. The Company shall pay the registration fee for all Registrable Securities to be registered pursuant to an Automatic Shelf Registration Statement at the time of filing of the Automatic Shelf Registration Statement and shall not elect to
pay any portion of the registration fee on a deferred basis. The Company shall use its reasonable best efforts to remain a WKSI (and not to become an ineligible issuer (as defined in Rule 405)) during the period during which any Automatic Shelf
Registration Statement is effective. If at any time following the filing of an Automatic Shelf Registration Statement when the Company is required to re-evaluate its WKSI status the Company determines that it
is not a WKSI, the Company shall use its reasonable best efforts to post-effectively amend the Automatic Shelf Registration Statement to a Shelf Registration Statement that is not automatically effective or file a new Shelf Registration Statement.

 (e) Demand Rights. In the event the Company ceases to be eligible to register Registrable Securities on Form S-3 or has failed to perform its obligations under Section 2(a) or otherwise does not have an effective Shelf Registration Statement, the Stockholders shall have the right on one occasion
in any calendar year to require the Company to file a registration statement under the Securities Act in respect of all or a portion of Registrable Securities owned by the Stockholders (so long as such request covers at least $100,000,000 (or
$50,000,000, in the case of a Block Sale) worth of the then current value of shares of Class A Common Stock (including, for the avoidance of doubt, any such shares received on conversion of any Class 1 Common Stock) or all of the shares of
Class A Common Stock of the requesting Stockholder(s)), by causing WildStar to deliver to the Company written notice stating that such right is being exercised, specifying the number of Registrable Securities owned by the Stockholders to be
included in such registration, and describing the intended method of distribution thereof (each, a “Demand Request” and any registration effected pursuant thereto, a “Demand Registration”). Upon receipt of a Demand
Request in accordance herewith, the Company shall use reasonable best efforts (i) to file a Registration Statement registering for resale such number of Registrable Securities as requested to be so registered as promptly as reasonably
practicable and in any event within 20 Business Days of such Demand Request and (ii) to cause such Demand Registration Statement to be declared effective by the SEC as promptly as reasonably practicable thereafter. Notwithstanding the
foregoing, the Company shall not be required to file any Registration Statement pursuant to a Demand Request within 90 days after the effective date of a previous Demand Registration or of any previous Registration Statement in which the holders of
Registrable Securities were given piggyback rights pursuant to Section 3 in which there was no reduction in the number of Registrable Securities to be included, and, in each case, in which the sale of the Registrable
Securities included therein was consummated. The Company shall comply with the applicable provisions of the Securities Act with respect to the disposition of all Registrable Securities covered by the Demand Registration in accordance with the
intended methods of disposition by the Stockholders. 
 (f) Revocation of Notice. At any time prior to the effective date of
the Registration Statement relating to a Demand Registration or the “pricing” of any offering relating to a Shelf Takedown, WildStar, on behalf of the Stockholders who initiated such Demand Registration or Shelf Takedown, may revoke or
withdraw such notice of a Demand Registration or Shelf Takedown, in each case by providing written notice to the Company. A notice of Demand Registration or Shelf Takedown that has been revoked or withdrawn shall count as one of the permitted
Marketed Underwritten Shelf Offerings or Demand Registrations permitted pursuant to Section 2(a) and Section 2(e), respectively, only if such revocation or withdrawal (i) was not primarily
caused by the Company’s breach of its obligations hereunder and (ii) is not in light of either (A) any fact, circumstance, event, change, effect or occurrence that individually or in the aggregate with all other facts or
circumstances, events, changes, effects or occurrences has or had or is reasonably expected to have a material adverse effect on the Company or (B) any material adverse information concerning the Company that the Company had not publicly
disclosed at least forty-eight (48) hours prior to such registration request or that the Company had not otherwise notified, in writing, WildStar prior to the time of such request. A request for a Marketed Underwritten Shelf Offering or Demand
Registration shall not count against the number otherwise permitted if (i) after the applicable Prospectus supplement has been filed or Demand Registration Statement has become effective, the applicable

  
 5 

 
Registration Statement or the related offer, sale or distribution of Registrable Securities thereunder becomes the subject of any stop order, injunction or other order or restriction imposed by
the SEC or any other governmental agency or court for any reason attributable to the Company and such interference is not thereafter eliminated so as to permit the completion of the contemplated distribution of Registrable Securities or (ii) in
the case of an Underwritten Offering, the conditions specified in the related underwriting agreement, if any, are not satisfied or waived for any reason attributable to the Company, and as a result of any such circumstances described in clause
(i) or (ii), less than all of the Registrable Securities covered by Prospectus supplement or the Demand Registration Statement are sold by the selling Stockholders pursuant thereto. 

(g) Continued Effectiveness. The Company shall use its reasonable best efforts to keep (A) any Shelf Registration Statement
filed pursuant to this Agreement continuously effective and usable for the resale of the Registrable Securities covered thereby until the earlier of (i) three (3) years from the effective date of such Shelf Registration Statement and
(ii) the date on which all of the Registrable Securities covered by such Shelf Registration Statement have been sold pursuant to such Shelf Registration Statement and (B) any Registration Statement filed pursuant to a Demand Request
effective for a period of at least 180 days after the effectiveness thereof or such shorter period during which all Registrable Securities included therein shall have actually been sold (such period, the “Effective Period”);
provided, however, that in the event the Company suspends, postpones or delays the filing of a Registration Statement required to be filed pursuant to this Agreement, the Effective Period shall be extended by the duration of each such
applicable suspension, postponement or delay. 
 (h) Priority on Demand Registration or Shelf Takedown. If any of the
Registrable Securities registered pursuant to a Demand Request or a Shelf Takedown are to be sold in a Marketed Underwritten Offering, and the managing underwriter(s) advise WildStar that in its good faith opinion the total number or dollar amount
of Registrable Securities proposed to be sold in such Marketed Underwritten Offering (including securities proposed to be included by other holders of securities entitled to include securities in such Registration Statement pursuant to incidental or
piggyback registration rights), is such as to adversely affect the success of such offering, then there shall be included in such Marketed Underwritten Offering the number or dollar amount of Registrable Securities that in the good faith opinion of
such managing underwriter(s) can be sold without adversely affecting such offering, and such number of Registrable Securities shall be allocated as follows: 

a. first, to the Stockholders requesting such registration pro rata on the basis of the percentage of Registrable Securities
owned by each such Stockholder relative to the number of Registrable Securities owned by all such Stockholders, until with respect to each such Stockholder, all Registrable Securities requested for registration by such Holders have been included in
such registration; 
 b. second, the securities for which inclusion in such Registration Statement was requested by the
Company, if any; and 
 c. third, Class A Common Stock requested by other holders of Class A Common Stock (each, a
“Piggybacking Holder”) to be included in such Marketed Underwritten Offering, on a pro rata basis or, in the case of this clause (c), in such other manner as such Piggybacking Holders shall agree. 

Notwithstanding the foregoing, no securities other than securities held by the Stockholders shall be eligible for inclusion in the total
number or dollar amount of Registrable Securities proposed to be sold in any Block Sale effected pursuant to Section 2(b) or Section 2(e) of this Agreement. 

(i) Postponements in Requested Registrations. The Company may postpone, for up to 90 days from the date of the request, the
filing or the effectiveness of a Registration Statement or suspend the use of a Prospectus that is part of a Shelf Registration Statement (and therefore suspend sales of the Registrable Securities) by providing written notice to WildStar if the
following conditions are met: (i) the Company determines that the offer or sale of Registrable Securities would reasonably be expected to have a material adverse effect on any proposal or plan by the Company or any subsidiary to engage in any
material acquisition of assets or stock (other than in the ordinary course of business) or any material merger, consolidation, tender offer, 

  
 6 

 
recapitalization, reorganization, financing or other transaction involving the Company, (ii) upon advice of counsel, the sale of Registrable Securities pursuant to the Registration Statement
would require disclosure of material non-public information not otherwise required to be disclosed under applicable law and either (x) the Company has a bona fide business purpose for preserving the
confidentiality of such transaction or (y) disclosure would have a material adverse effect on the Company or the Company’s ability to consummate such transaction, in each case under circumstances that would make it impractical or
inadvisable to cause the Registration Statement (or such filings) to become effective or to promptly amend or supplement the Registration Statement on a post effective basis, as applicable; provided that the Company shall not be permitted to
do so more than once in any 6-month period or for periods exceeding, in the aggregate, 120 days during any 12-month period. In the event that the Company exercises its
rights under the preceding sentence, the Stockholders agree to suspend, promptly upon receipt of the notice referred to above, the use of any Prospectus relating to such registration in connection with any sale or offer to sell Registrable
Securities until the earlier of the termination of such postponement period, the time that WildStar has received copies of a supplemented or amended Prospectus or prospectus supplement and the time WildStar is advised in writing by the Company that
the use of the Prospectus and, if applicable, prospectus supplement may be resumed. If the Company so postpones the filing of a Prospectus or the effectiveness of a Registration Statement, WildStar, on behalf of the demanding Stockholder(s) shall be
entitled to withdraw such request and, if such request is withdrawn, such registration request shall not count for the purposes of the limitations set forth in Section 2(e). The Company shall promptly give WildStar, on
behalf of the Stockholders requesting registration thereof pursuant to this Section 2, written notice of any postponement made in accordance with this Section 2(i). 

(j) Registration Expenses. The Company shall pay, and shall be responsible for, all Registration Expenses in connection with any
registrations and offerings pursuant to this Section 2, including any underwritten offering, direct sales to purchasers, sales to or through brokers, dealers or agents, derivative transactions with third parties, sales in
connection with short sales and other hedging transactions, that are effectuated pursuant to this Section 2; provided, however, that the Stockholders shall pay all Selling Expenses, if any, with respect to
Registrable Securities sold by them. 
 (k) Selection of Underwriters. The lead underwriters of any Underwritten Offering
effected pursuant to a Demand Registration or a Shelf Takedown shall be selected by WildStar, on behalf of the demanding or requesting Stockholders, subject to the consent, not to be unreasonably withheld, of the Company; provided that the Company
may select the counsel for such lead underwriters that is acceptable to such underwriters and reasonably acceptable to the demanding or requesting Stockholders. If the Stockholders intend that the Registrable Securities requested to be covered by a
Demand Registration shall be distributed by means of an Underwritten Offering, WildStar shall so advise the Company in writing. The right of any Stockholder to participate in an Underwritten Offering pursuant to this
Section 2 will be conditioned upon such Stockholder’s participation in such underwriting and the inclusion of such Stockholder’s Registrable Securities in the underwriting and each such Stockholder will (together
with the Company and any Piggybacking Holder distributing its securities through such underwriting) (i) enter into an underwriting agreement in customary form with the underwriter(s) selected for such underwriting (including pursuant to the
terms of any over-allotment or “green shoe” option requested by the managing underwriter(s)), provided that no Stockholder shall be required to sell more than the number of Registrable Securities that such Stockholder has requested the
Company to include in any registration) and (ii) complete, execute and deliver all customary questionnaires, powers of attorney, stock powers, custody agreements, indemnities, underwriting agreements and other documents and agreements
reasonably required under the terms of such underwriting arrangements or as may be reasonably requested by the Company and the lead managing underwriter(s); provided, further, that no Stockholder shall be required to agree to any indemnification
obligations on the part of such Stockholder that are greater than its obligations pursuant to Section 6. Notwithstanding the foregoing, if any Stockholder disapproves of the terms of the applicable underwriting, such
Stockholder may elect to withdraw therefrom by written notice to the Company. 
 (l) Confidentiality. Each Stockholder agrees
to treat as confidential the receipt of any suspension notice pursuant to Section 2(i) and the information contained therein, and not to disclose the information 

  
 7 

 
contained in any such notice (or the existence thereof) without the prior written consent of the Company until such time as the information contained therein is or becomes available to the public
generally (other than as a result of disclosure by such Stockholder in breach of the terms of this Agreement). 
 3. Piggyback
Registrations. 
 (a) Right to Piggyback. Whenever the Company proposes to register any of its securities for its own
account or for the account of others (other than (x) a registration for the account of Stockholders pursuant to this Agreement or (y) in connection with registrations on Form S-4 or S-8 promulgated by the SEC or any successor or similar forms) and the registration form to be filed may be used for the registration or qualification for distribution of Registrable Securities (a “Piggyback
Registration”), the Company will give prompt written notice (and in any event no less than twelve days prior to the anticipated filing date of the registration statement or Prospectus relating to the Piggyback Registration) to WildStar of
its intention to effect such a registration and will include in such registration all Registrable Securities held by the Stockholders with respect to which the Company has received from WildStar, on behalf of the Stockholders, a written request for
inclusion therein within ten days after the date of the Company’s notice. Any Stockholder may withdraw its request for inclusion at any time prior to executing the underwriting agreement, or if none, prior to the applicable Registration
Statement becoming effective. The Company may terminate or withdraw any registration under this Section 3 prior to the effectiveness of such registration, whether or not the Stockholder has elected to include Registrable
Securities in such registration, and, except for the obligation to pay Registration Expenses pursuant to Section 3(c), the Company will have no liability to the Stockholder in connection with such termination or withdrawal
solely by reason thereof. 
 (b) Underwritten Registration. If the registration referred to in
Section 3(a) is proposed to be an Underwritten Offering, the Company will so advise WildStar as a part of the written notice given pursuant to Section 3(a). In such event, the right of any
Stockholder to registration pursuant to this Section 3 will be conditioned upon such Stockholder’s participation in such underwriting and the inclusion of such Stockholder’s Registrable Securities in the
underwriting, and any Stockholder that holds Registrable Securities that are to be sold in such offering will (together with the Company and any other holders distributing their securities through such underwriting) enter into an underwriting
agreement in customary form with the underwriter or underwriters selected for such offering by the Company. 
 (c) Piggyback
Registration Expenses. The Company will pay all Registration Expenses in connection with any Piggyback Registration, whether or not any registration or prospectus becomes effective or final; provided, however, that the
Stockholders shall pay all Selling Expenses, if any, with respect to Registrable Securities sold by them. 
 (d) Priority on Primary
Registrations. If a Piggyback Registration relates to a primary Underwritten Offering on behalf of the Company, and the managing underwriter(s) advise the Company in writing that in their opinion the number of securities requested to be
included in such registration exceeds the number which can be sold without adversely affecting the marketability of such offering, the Company will include in such registration or prospectus only such number of securities that in the opinion of such
underwriters can be sold without adversely affecting the marketability of the offering, which securities will be so included in the following order of priority: (i) first, the securities the Company proposes to sell for its own account,
(ii) second, the Registrable Securities requested to be included in such registration by the Stockholders on a pro rata basis relative to the total number of Registrable Securities requested to be included therein by all such Stockholders,
until with respect to each such Stockholder, all Registrable Securities requested for registration by such Stockholders have been included in such registration and (iii) third, Class A Common Stock requested by any other persons to be
included in the Piggyback Registration, on a pro rata basis relative to the total number of Registrable Securities requested to be included in the Piggyback Registration by such other requesting persons, or, in the case of this clause (iii), in such
other manner as such other requesting persons shall agree. 

  
 8 

 (e) Priority on Secondary Registrations. If a Piggyback Registration relates
to a secondary Underwritten Offering on behalf of other holders of the Company’s securities, and the managing underwriter(s) advise the Company in writing that in their opinion the number of securities requested to be included in such
registration exceeds the number which can be sold without adversely affecting the marketability of the offering, the Company will include in such registration only such number of securities that in the opinion of such underwriters can be sold
without adversely affecting the marketability of the offering, which securities will be so included in the following order of priority: (i) first, the securities requested to be included therein by the holder(s) making demand for such
Underwritten Offering, together with any Registrable Securities requested to be included in such registration by the Stockholders on a pro rata basis relative to the total number of securities requested to be included therein by all such holders,
until with respect to each such holder, all securities requested for registration by such holders have been included in such registration and (ii) second other securities requested to be included in such registration which, in the opinion of
the underwriters, can be sold without any such adverse effect. 
 4. Registration Procedures. If and whenever the Company is
required to effect the registration of any Registrable Securities under the Securities Act as provided in Section 2, the Company shall use its reasonable best efforts to effect such registration to permit the sale of such
Registrable Securities in accordance with the intended method or methods of disposition thereof, and pursuant thereto the Company shall cooperate in the sale of such Registrable Securities and shall, as expeditiously as possible: 

(a) prepare and file, in each case as promptly as practicable, with the SEC a Registration Statement or Registration Statements on such form
as shall be available for the sale of the Registrable Securities by the Stockholders thereof or by the Company in accordance with the intended method or methods of distribution thereof, make all required filings with FINRA, and, if such Registration
Statement is not automatically effective upon filing, use its reasonable best efforts to cause such Registration Statement to be declared effective as soon as practicable and to remain effective as provided herein; provided, however, that before
filing a Registration Statement or Prospectus or any amendments or supplements thereto (including free writing prospectuses under Rule 433 (each a “Free Writing Prospectus”)), the Company shall furnish or otherwise make available to
WildStar, counsel to the Stockholders and the managing underwriter(s), if any, copies of all such documents proposed to be filed (including exhibits thereto), which documents will be subject to the reasonable review and comment of such counsel, and
such other documents reasonably requested by such counsel, including any comment letter from the SEC, and, if requested by such counsel, provide such counsel reasonable opportunity to participate in the preparation of such Registration Statement and
each Prospectus included therein and such other opportunities to conduct a reasonable investigation within the meaning of the Securities Act, including reasonable access to the Company’s officers, accountants and other advisors. The Company
shall not file any such Registration Statement or Prospectus, or any amendments or supplements thereto (including Free Writing Prospectuses) with respect to a Demand Registration to which WildStar or the managing underwriter(s), if any, shall
reasonably object, in writing, on a timely basis, unless, in the opinion of the Company, such filing is necessary to comply with applicable law; 

(b) prepare and file with the SEC such amendments and supplements to such Registration Statement and the Prospectus used in connection
therewith and such Free Writing Prospectuses and Exchange Act reports as may be necessary to keep such Registration Statement continuously effective during the period provided herein and comply in all material respects with the provisions of the
Securities Act with respect to the disposition of all securities covered by such Registration Statement; and cause the related Prospectus to be supplemented by any Prospectus supplement as may be necessary to comply with the provisions of the
Securities Act with respect to the disposition of the securities covered by such Registration Statement, and as so supplemented to be filed pursuant to Rule 424 (or any similar provisions then in force) under the Securities Act in each case, until
such time as all of such securities have been disposed of in accordance with the intended method or methods of disposition by the seller or sellers thereof set forth in such Registration Statement; 

(c) notify WildStar, its counsel and the managing underwriter(s) of any Underwritten Offering (i) when a Registration Statement, pre-effective amendment to any Registration Statement, Prospectus or any Prospectus 

  
 9 

 
supplement or post-effective amendment or any Free Writing Prospectus has been filed, and, with respect to a Registration Statement or any post-effective amendment, when the same has become
effective, (ii) of any request by the SEC or any other federal or state governmental authority for amendments or supplements to a Registration Statement or related Prospectus or for additional information, (iii) of the issuance by the SEC
of any stop order suspending the effectiveness of such Registration Statement or the initiation or threatening of any proceedings for that purpose, (iv) if at any time the Company has reason to believe that the representations and warranties of
the Company contained in any agreement (including any underwriting agreement) contemplated by Section 4(n) below cease to be true and correct, (v) of the receipt by the Company of any notification with respect to the
suspension of the qualification or exemption from qualification of such Registrable Securities for sale in any jurisdiction, or the initiation of any proceeding for such purpose, and (vi) of the happening of any event that makes any statement
made in such Registration Statement or related Prospectus, Free Writing Prospectus, amendment or supplement thereto, or any document incorporated or deemed to be incorporated therein by reference, as then in effect, untrue in any material respect or
that requires the making of any changes in 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 necessary in order to
make the statements therein, in the light of the circumstances under which they were made, not misleading (which notice shall notify WildStar only of the occurrence of such an event and shall provide no additional information regarding such event to
the extent such information would constitute material non-public information); 
 (d) use its
reasonable best efforts to obtain the withdrawal of any order suspending the effectiveness of a Registration Statement, or the lifting of any suspension of the qualification (or exemption from qualification) of any of the Registrable Securities for
sale in any jurisdiction at the earliest date reasonably practical; 
 (e) if requested by WildStar, or, in the case of an Underwritten
Offering, the managing underwriter(s) of such Underwritten Offering, promptly include in a Prospectus supplement or post-effective amendment such information as WildStar or such managing underwriter(s), as the case may be, may reasonably request in
order to facilitate the disposition of the Registrable Securities in accordance with the intended method or methods of distribution of such securities set forth in the Registration Statement and make all required filings of such Prospectus
supplement or such post-effective amendment as soon as practicable after the Company has received such request; provided, however, that the Company shall not be required to take any actions under this Section 4(e) that, in
the opinion of counsel for the Company, violate applicable law; 
 (f) deliver to WildStar, counsel to the selling Stockholders, and the
underwriters, if any, without charge, as many copies of the Prospectus or Prospectuses (including each form of Prospectus) and each amendment or supplement thereto (including any Free Writing Prospectus) as such Persons may reasonably request from
time to time in order to facilitate the disposition of the Registrable Securities in accordance with the intended method or methods of disposition thereof; and the Company, subject to the last paragraph of this Section 4,
hereby consents to the use of such Prospectus and each amendment or supplement thereto by each of the selling Stockholders of Registrable Securities and the underwriters, if any, in connection with the offering and sale of the Registrable Securities
covered by such Prospectus and any such amendment or supplement thereto; 
 (g) use its reasonable best efforts to register or qualify, or
cooperate with WildStar, the 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 seller or underwriter reasonably requests in writing and to keep each such registration or qualification (or exemption therefrom) effective during the period such
Registration Statement is required to be kept effective and to take any other action that may be necessary or advisable to enable such Stockholders of Registrable Securities to consummate the disposition of such Registrable Securities in such
jurisdiction in accordance with the intended method or methods of disposition 

  
 10 

 
thereof; provided, however, that the Company will not be required to (i) qualify generally to do business in any jurisdiction where it would not otherwise be required to qualify,
(ii) subject itself to taxation in any jurisdiction wherein it is not so subject or (iii) take any action that would subject it to general service of process in any such jurisdiction where it is not then so subject, in each case but for
this Section 4(g); 
 (h) cooperate with WildStar and the managing underwriter(s), if any, to facilitate the
timely preparation and delivery of certificates (not bearing any legends) representing Registrable Securities to be sold after receiving written representations from each Stockholder of such Registrable Securities that the Registrable Securities
represented by the certificates so delivered by such Stockholder will be transferred in accordance with the Registration Statement, and enable such Registrable Securities to be in such denominations and registered in such names as the managing
underwriter(s), if any, or WildStar may request at least two Business Days prior to any sale of Registrable Securities in a firm commitment public offering, but in any other such sale, within 10 Business Days prior to having to issue the
securities; 
 (i) upon the occurrence of any event contemplated by Section 4(c)(vi) above, prepare a supplement
or post-effective amendment to the Registration Statement or a supplement to the related Prospectus or any document incorporated or deemed to be 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, 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; 
 (j) provide and cause to be maintained a transfer
agent and registrar for all such Registrable Securities from and after the effective date of such Registration Statement, and use reasonable best efforts to procure the cooperation of the Company’s transfer agent in settling any offering or
sale of Registrable Securities, including with respect to the transfer of physical stock certificates into book-entry form in accordance with any procedures reasonably requested by the Holders or any managing underwriter(s); 

(k) use its reasonable best efforts to cause all shares of Registrable Securities covered by any Registration Statement to be listed on each
primary national securities exchange (if any) on which shares of the particular class of Registrable Securities are at that time listed, and enter into such customary agreements, including a supplemental listing application and indemnification
agreement in customary form; 
 (l) in the case of any Underwritten Offering in which any Stockholder participates, enter into an
underwriting agreement containing such provisions (including provisions for indemnification, lockups, opinions of counsel and comfort letters), and take all such other customary and reasonable actions as the managing underwriters of such offering
may request in order to facilitate the disposition of such Registrable Securities, including adding information requested by the managing underwriters to the Prospectus, and making such representations and warranties to the holders of such
Registrable Securities and the underwriters, if any, with respect to the business of the Company and its material subsidiaries, and the Registration Statement, Prospectus and documents, if any, incorporated or deemed to be incorporated by reference
therein, in each case, in form, substance and scope as are customarily made by issuers to underwriters in underwritten offerings, and, if true, confirm the same if and when requested; 

(m) in the case of any Underwritten Offering in which any Stockholder participates, (A) make reasonably available, for inspection by the
managing underwriters of such Underwritten Offering and one law firm and accounting firm acting for such managing underwriters, pertinent corporate documents and financial and other records of the Company and its subsidiaries and controlled
Affiliates, (B) cause the Company’s officers and employees to supply information reasonably requested by such managing underwriters or law firm or accounting firm in connection with such offering, (C) make the Company’s
independent auditor available for any such managing underwriters’ due diligence and have them provide customary comfort letters to such underwriters in connection therewith and to each Stockholder selling Registrable Securities in such offering

  
 11 

 
(unless such accountants shall be prohibited from so addressing such letters by applicable standards of the accounting profession) and (D) cause the Company’s outside counsel to furnish
customary legal opinions and updates thereof (which legal opinions (in form, scope and substance) shall be reasonably satisfactory to the managing underwriter(s)) to such underwriters and to WildStar in connection therewith, covering the matters
customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such counsel and underwriters; provided, however, that any such records and other information provided under clauses
(A) and (B) above that is not generally publicly available shall be subject to such confidential treatment as is customary for underwriters’ due diligence reviews; 

(n) in the case of any Underwritten Offering in which any Stockholder participates, cause its management to use their reasonable best efforts
to support the marketing of the Registrable Securities covered by the Registration Statement (including participation in such number of “road shows” as the underwriter(s) reasonably request, and in any management diligence meetings or
teleconferences as the underwriter(s) or their counsel reasonably request); 
 (o) make available for inspection by a single representative
of the selling Stockholders designated by WildStar and the managing underwriter(s), if any, and their respective attorneys or accountants, at the offices where normally kept, during reasonable business hours, financial and other records, pertinent
corporate documents and properties of the Company, and cause the officers, directors and employees of the Company to supply all information in each case reasonably requested by any such representative, managing underwriter(s), attorney or accountant
in connection with such Registration Statement; 
 (p) cooperate with each seller of Registrable Securities and each underwriter or agent
participating in the disposition of such Registrable Securities and their respective counsel in connection with any filings required to be made with the FINRA; and 

(q) otherwise use its reasonable best efforts to comply with all applicable rules and regulations of the SEC, and make available to its
security holders, as soon as reasonably practicable, an earnings statement covering the period of at least twelve months beginning with the first day of the Company’s first full calendar quarter after the effective date of any Registration
Statement, which earnings statement will satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder. 
 The
Company may require each Stockholder as to which any registration is being effected to furnish to the Company in writing such information required in connection with such registration regarding such seller and the distribution of such Registrable
Securities as the Company may, from time to time, reasonably request and the Company may exclude from such registration the Registrable Securities of any Stockholder who unreasonably fails to furnish such information within a reasonable time after
receiving such request. 
 If the Company files any Shelf Registration Statement for the benefit of the holders of any of its securities
other than the Stockholders, the Company agrees that it shall use its reasonable best efforts to include in such registration statement such disclosures as may be required by Rule 430B under the Securities Act (referring to the unnamed selling
security holders in a generic manner by identifying the initial offering of the securities to the Stockholders) in order to ensure that the Stockholders may be added to such Shelf Registration Statement at a later time through the filing of a
Prospectus supplement rather than a post-effective amendment. 
 The Company agrees not to file or make any amendment to any Registration
Statement with respect to any Registrable Securities, or any amendment of or supplement to the Prospectus or any Free Writing Prospectus used in connection therewith, that refers to any Stockholder covered thereby by name, or otherwise identifies
such Stockholder as the holder of any securities of the Company, without first furnishing or otherwise making available to WildStar a copy of any such amendment or supplement no less than five Business Days prior to the filing of such amendment or
supplement (unless and to the extent such amendment or supplement is required by law to be filed earlier, in which case the Company shall provide any notice as far in advance as practicable) and including all comments thereon reasonably and timely
requested by WildStar. 

  
 12 

 Each Stockholder holding Registrable Securities agrees if such Stockholder has Registrable
Securities covered by such Registration Statement that, upon receipt of any notice from the Company of the happening of any event of the kind described in Sections 4(c)(ii), 4(c)(iii), 4(c)(iv), 4(c)(v) and
4(c)(vi) hereof, such Stockholder will promptly discontinue disposition of such Registrable Securities covered by such Registration Statement or Prospectus until such Stockholder’s receipt of the copies of the supplemented or amended
Prospectus contemplated by Section 4(i) hereof, or until it is advised in writing by the Company that the use of the applicable Prospectus may be resumed, and has received copies of any additional or supplemental filings
that are incorporated or deemed to be incorporated by reference in such Prospectus; provided, however, that the time periods under Section 2 with respect to the length of time that the effectiveness of a Registration
Statement must be maintained shall automatically be extended by the amount of time the Stockholder is required to discontinue disposition of such securities. 

5. Lock-Up Restrictions and Period. The parties hereto acknowledge and agree that the
Reclassification Agreement imposes transfer restrictions that apply during the Lock-Up Period (as defined therein), and any sale pursuant to a registration made pursuant to this Agreement shall comply with
such restrictions (to the extent applicable). 
 6. Indemnification. 

(a) Indemnification by the Company. The Company shall, without limitation as to time, indemnify and hold harmless, to the
fullest extent permitted by law, each Stockholder of Registrable Securities whose Registrable Securities are covered by a Registration Statement or Prospectus, the officers, directors, partners, members, managers, shareholders, accountants,
attorneys, agents and employees of each of them, each Person who controls (within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act) each such Stockholder and the officers, directors, partners, members,
managers, shareholders, accountants, attorneys, agents and employees of each such controlling person, each underwriter, if any, and each Person who controls (within the meaning of Section 15 of the Securities Act or Section 20 of the
Exchange Act) such underwriter (each such person being referred to herein as a “Covered Person”), from and against any and all losses, claims, damages, liabilities, costs (including costs of preparation and reasonable
attorneys’ fees and any legal or other fees or expenses incurred by such party in connection with any investigation or proceeding), expenses, judgments, fines, penalties, charges and amounts paid in settlement (collectively,
“Losses”), as incurred, arising out of or based upon any untrue or alleged untrue statement of a material fact contained in any Prospectus, Registration Statement or Free Writing Prospectus or any amendment thereof or supplement
thereto or any document incorporated by reference therein or based on any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, or any violation by the
Company of the Securities Act, the Exchange Act, any state securities law, or any rule or regulation thereunder applicable to the Company and relating to any action or inaction in connection with the related offering of Registrable Securities, and
will reimburse each such Covered Person for any legal and any other expenses reasonably incurred in connection with investigating and defending or settling any such Loss, provided that the Company will not be liable in any such case to the extent
that any such Loss arises out of or is based on any untrue or alleged untrue statement or omission or alleged omission by such Covered Person relating to such Covered Person or its Affiliates (other than the Company or any of its Subsidiaries), but
only to the extent, that such untrue statement (or alleged untrue statement) or omission (or alleged omission) is made in such Registration Statement, Prospectus, Free Writing Prospectus or any amendment thereof or supplement thereto, or any
document incorporated by reference therein, in each case in reliance upon and in conformity with written information furnished to the Company by such Covered Person with respect to such Covered Person for use therein. It is agreed that the indemnity
agreement contained in this Section 6(a) shall not apply to amounts paid in settlement of any such Loss or action if such settlement is effected without the consent of the Company (which consent shall not be unreasonably
withheld). 
 (b) Indemnification by Stockholder of Registrable Securities. Each selling Stockholder agrees to indemnify, to
the fullest extent permitted by law, severally and not jointly with any other Stockholders holding 

  
 13 

 
Registrable Securities, the Company, its directors and officers and each Person who controls (within the meaning of Section 15 of the Securities Act and Section 20 of the Exchange Act)
the Company and all other prospective sellers, from and against all Losses arising out of or based on any untrue statement or alleged untrue statement of a material fact contained in any such Registration Statement, Prospectus or Free Writing
Prospectus or any amendment thereof or supplement thereto, or any document incorporated by reference therein, or any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements
therein not misleading, and will reimburse the Company, such directors, controlling persons and prospective sellers for any legal or any other expenses reasonably incurred in connection with investigating or defending any such Loss, in each case to
the extent, but only to the extent, that such untrue statement or alleged untrue statement or omission or alleged omission is made in such Registration Statement, Prospectus or Free Writing Prospectus or any amendment thereof or supplement thereto,
or any document incorporated by reference therein, in each case in reliance upon and in conformity with written information furnished to the Company by such Stockholder or any designee acting on behalf of such Stockholder, with respect to such
Stockholder for inclusion in such Registration Statement, Prospectus or Free Writing Prospectus or any amendment thereof or supplement thereto, or any document incorporated by reference therein; provided, however, that the obligations of such
Stockholder hereunder shall not apply to amounts paid in settlement of any such Losses (or actions in respect thereof) if such settlement is effected without the consent of such Stockholder (which consent shall not be unreasonably withheld). 

(c) Conduct of Indemnification Proceedings. If any Person shall be entitled to indemnity hereunder (an “Indemnified
Party”), such Indemnified Party shall give prompt notice to the party from which such indemnity is sought (the “Indemnifying Party”) of any claim or of the commencement of any proceeding with respect to which such
Indemnified Party seeks indemnification or contribution pursuant hereto; provided, however, that the delay or failure to so notify the Indemnifying Party shall not relieve the Indemnifying Party from any obligation or liability except to the extent
that the Indemnifying Party has been materially prejudiced by such delay or failure. The Indemnifying Party shall have the right, exercisable by giving written notice to an Indemnified Party promptly after the receipt of written notice from such
Indemnified Party of such claim or proceeding, to, unless in the Indemnified Party’s reasonable judgment a conflict of interest between such indemnified and indemnifying parties may exist in respect of such claim, assume, at the Indemnifying
Party’s expense, the defense of any such claim or proceeding, with counsel reasonably satisfactory to such Indemnified Party; provided, however, that an Indemnified Party shall have the right to employ separate counsel in any such claim or
proceeding and to participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of such Indemnified Party unless: (i) the Indemnifying Party agrees to pay such fees and expenses; or (ii) the
Indemnifying Party fails promptly to assume, or in the event of a conflict of interest cannot assume, the defense of such claim or proceeding or fails to employ counsel reasonably satisfactory to such Indemnified Party; in which case the Indemnified
Party shall have the right to employ counsel and to assume the defense of such claim or proceeding at the Indemnifying Party’s expense; provided, further, however, that the Indemnifying Party shall not, in connection with any one such claim or
proceeding or separate but substantially similar or related claims or proceedings in the same jurisdiction, arising out of the same general allegations or circumstances, be liable for the fees and expenses of more than one firm of attorneys
(together with appropriate local counsel) at any time for all of the Indemnified Parties, or for fees and expenses that are not reasonable. Whether or not such defense is assumed by the Indemnifying Party, such Indemnifying Party will not be subject
to any liability for any settlement made without its consent (but such consent will not be unreasonably withheld). The Indemnifying Party shall not consent to entry of any judgment or enter into any settlement that (x) does not include as an
unconditional term thereof the giving by the claimant or plaintiff to such Indemnified Party of a release, in form and substance reasonably satisfactory to the Indemnified Party, from all liability in respect of such claim or litigation for which
such Indemnified Party would be entitled to indemnification hereunder or (y) involves the imposition of equitable remedies or the imposition of any obligations on the Indemnified Party or adversely affects such Indemnified Party other than as a
result of financial obligations for which such Indemnified Party would be entitled to (and promptly after any such judgment or settlement receive) indemnification hereunder. 

(d) Contribution. If the indemnification provided for in this Section 6 is unavailable to an
Indemnified Party in respect of any Losses (other than in accordance with its terms), then each applicable Indemnifying Party, 

  
 14 

 
in lieu of indemnifying such Indemnified Party, shall contribute to the amount paid or payable by such Indemnified Party as a result of such Losses, in such proportion as is appropriate to
reflect the relative fault of the Indemnifying Party, on the one hand, and such Indemnified Party, on the other hand, in connection with the actions, statements or omissions that resulted in such Losses as well as any other relevant equitable
considerations. The relative fault of such Indemnifying Party, on the one hand, and Indemnified Party, on the other hand, shall be determined by reference to, among other things, whether any action in question, including any untrue or alleged untrue
statement of a material fact or omission or alleged omission to state a material fact, has been made (or omitted) by, or relates to information supplied by, such Indemnifying Party or Indemnified Party, and the parties’ relative intent,
knowledge, access to information and opportunity to correct or prevent any such action, statement or omission. The parties hereto agree that it would not be just and equitable if contribution pursuant to this Section 6(d)
were determined by pro rata allocation or by any other method of allocation that does not take account of the equitable considerations referred to in the immediately preceding paragraph. Notwithstanding the provisions of this
Section 6(d), the maximum amount of liability in respect of such contribution will be limited, in the case of each seller of Registrable Securities, to an amount equal to the net proceeds actually received by such seller
from the sale of Registrable Securities effected pursuant to such registration. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who
was not guilty of such fraudulent misrepresentation. Notwithstanding the foregoing, to the extent that the provisions on indemnification and contribution contained in the underwriting agreement entered into in connection with the underwritten public
offering are in conflict with the foregoing provisions, the provisions in the underwriting agreement shall control. 
 (e) Non-Exclusivity. The obligations of the parties under this Section 6 shall be in addition to any liability which any party may otherwise have to any other party. 

7. Registration Expenses. All fees and expenses incurred by the Company and the Stockholders in connection with any registration
pursuant to this Agreement, including (i) all registration and filing fees (including fees and expenses (A) with respect to filings required to be made with the SEC, all applicable securities exchanges and/or FINRA and (B) of
compliance with securities or blue sky laws, including any fees and disbursements of counsel for the underwriters in connection with blue sky qualifications of the Registrable Securities pursuant to Section 4(g)), (ii)
printing expenses (including expenses of printing certificates for Registrable Securities in a form eligible for deposit with The Depository Trust Company and of printing Prospectuses if the printing of Prospectuses is requested by the managing
underwriter(s), if any, of an Underwritten Offering, or by WildStar), (iii) messenger, telephone and delivery expenses of the Company, (iv) fees and disbursements of counsel for the Company and one counsel for the selling Stockholders in an
amount not to exceed $100,000 for the first offering hereunder and $75,000 for any subsequent offering, (v) expenses of the Company incurred in connection with any “road show,” including travels, meals and lodging (vi) fees and
disbursements of all independent registered public accounting firms referred to in Section 4(m) hereof (including the expenses of any “cold comfort” letters required by this Agreement) and any other persons,
including special experts retained by the Company, (vii) all expenses in connection with the preparation, printing and filing of any registration statement, any preliminary prospectus, final prospectus or free writing prospectus, any other
offering document and amendments and supplements thereto and the mailing and delivering of copies thereof to the underwriters and dealers, (viii) all expenses associated with any listing of the Registrable Securities, (ix) any reasonable
fees and disbursements of underwriters customarily paid by issuers or sellers of securities, and (x) Securities Act liability insurance or similar insurance if the Company so desires or the underwriters so require in accordance with
then-customary underwriting practice, shall be borne by the Company whether or not any Registration Statement is filed or becomes effective (all such expenses, “Registration Expenses”). In addition, the Company shall pay its
internal expenses (including all salaries and expenses of its officers and employees performing legal or accounting duties), the expense of any annual audit, the fees and expenses incurred in connection with the listing of the securities to be
registered on any securities exchange on which similar securities issued by the Company are then listed and rating agency fees and the fees and expenses of any Person, including special experts, retained by the Company. The Company shall not be
required to pay the Selling Expenses or, in respect of any Underwritten Offering, any fees or expenses for which the underwriter(s) are responsible. 

  
 15 

 8. Rule 144. With a view to making available to the Stockholders the benefits
of certain rules and regulations of the SEC which may permit the sale of the Registrable Securities to the public without registration, the Company will: 

(a) for so long as it is subject to the periodic reporting obligations of the Exchange Act, make and keep public information available, as
those terms are understood and defined in Rule 144(c)(1) or any similar or analogous rule promulgated under the Securities Act, at all times after the effective date of this Agreement; 

(b) for so long as it is subject to the periodic reporting obligations of the Exchange Act, file with the SEC, in a timely manner, all reports
and other documents required of the Company under the Exchange Act; and 
 (c) furnish to the Stockholders forthwith upon request:
(i) in the event the Company is no longer subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act, a written statement by the Company as to its compliance with the reporting requirements of Rule 144 under the
Securities Act and of the Exchange Act; (ii) in the event the Company is subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act, a copy of the most recent annual or quarterly report of the Company; and
(iii) such other reports and documents as the Stockholders may reasonably request in availing themselves of any rule or regulation of the SEC allowing them to sell any such securities without registration; provided, however, that the Company
shall be deemed to have furnished any such document if it shall have timely made such document available on the SEC’s Electronic Data Gathering, Analysis and Retrieval System, or a successor system. 

9. Miscellaneous. 

(a) Termination. The provisions of this Agreement (other than Sections 5 and 6) shall terminate upon the earliest
to occur of (i) its termination by the written agreement of all parties hereto or their respective successors and assigns, (ii) the date on which all Stockholders cease to own any Registrable Securities and (iii) the dissolution,
liquidation or winding up of the Company. Nothing herein shall relieve any party from any liability for the breach of any of the agreements set forth in this Agreement. 

(b) Holdback Agreement. In connection with any Underwritten Offering (other than any Demand Registration or Shelf Takedown
hereunder), each Stockholder will enter into a customary lock-up, holdback or similar agreement, if requested by the managing underwriter(s) of such offering, during the 10 days prior and the 90-day period beginning on the date of pricing of such offering and otherwise in a form reasonably acceptable to such Stockholder. Any such lock-up, holdback or similar
agreement shall contain terms no more adverse in any material respect compared to similar agreements entered into with the Company and its directors and executive officers as well as holders of at least 5% of the Class A Common Stock, and the
Stockholders shall only agree to be subject to such lock-up, holdback or similar agreement for only so long as the Company and its directors and executive officers as well as holders of at least 5% of the
Class A Common Stock are similarly bound and no waiver has been granted to any such person. Notwithstanding anything herein to the contrary, the Stockholders shall not be required to agree not to (x) offer, sell, contract to sell or
otherwise dispose any shares of capital stock to any Family-Related Person or otherwise in connection with any bona fide estate, family or tax planning (including in connection with the repayment of any debt, bequest or other obligations upon
the death of any Stockholder or Family-Related Person) or (y) pledge, hypothecate or encumber any shares of capital stock to any third-party pledgee with respect to borrowings by the Stockholders or any Family-Related Persons and, in connection
therewith, offer, sell, contract to sell or otherwise dispose of any shares of capital stock in connection with any exercise of remedies with respect thereto. The Company may impose stop-transfer instructions with respect to any Class A Common
Stock subject to the restrictions set forth in this Section 9(b) until the the expiration of the lock-up period. 

If any registration pursuant to Section 2 of this Agreement shall be in connection with any Underwritten Offering,
the Company will not effect any public sale or distribution of any Class A Common Stock (or securities convertible into or exchangeable or exercisable therefor) (other than a registration statement (i) on Form S-4, Form S-8 or any successor forms promulgated for similar purposes or (ii) filed in connection 

  
 16 

 
with any employee benefit or dividend reinvestment plan) for its own account, during the 10 days prior and the 90-day period beginning on the date of
pricing of such offering. 
 (c) Amendments and Waivers. This Agreement may not be altered, amended or supplemented, except by
an agreement in writing signed by the Company and WildStar (or any other person designated by the Stockholders pursuant to Section 9(p)). The failure of any party to enforce any of the provisions of this Agreement shall in
no way be construed as a waiver of such provisions and shall not affect the right of such party thereafter to enforce each and every provision of this Agreement in accordance with its terms. WildStar, on behalf of any Stockholder, may waive (in
writing) the benefit of any provision of this Agreement with respect to any Stockholder for any purpose. Any such waiver shall constitute a waiver only with respect to the specific matter described in such writing and shall in no way impair the
rights of the Stockholders in any other respect or at any other time. 
 (d) Successors, Assigns and Transferees. This
Agreement may not be assigned without the prior written consent of the Company. Notwithstanding the foregoing, (i) the Stockholders may assign any of its rights, interests and obligations hereunder, in whole or in part, to any Family-Related
Person (as defined in the Reclassification Agreement), and (ii) in the event of any such assignment, such assignee shall agree in writing to be bound by the provisions of this Agreement, including the rights, interests and obligations so
assigned by executing a joinder substantially in the form set forth in Exhibit B. Notwithstanding the foregoing, any notice (or Demand Request, as applicable) of WildStar, on behalf of a Stockholder to register Registrable Securities pursuant to a
registration statement under the Securities Act pursuant to, and in accordance with, Section 2(b), Section 2(e) or Section 3(a) shall be deemed to include, and the Company
shall register (subject to the limitations and conditions otherwise applicable to the Stockholder), any portion of such Registrable Securities that are transferred to any Family-Related Person prior to the execution of an underwriting agreement in
connection with an Underwritten Offering, provided that the notice (or Demand Request, as applicable) described in Section 2(b), Section 2(e) or Section 3(a), as
applicable, includes the identity of such Family-Related Person and the Registrable Securities held by such Family-Related Person to be included in such registration and the intended method of distribution thereof, and any other information
reasonably requested by the Company and/or the managing underwriter(s) for inclusion in the applicable Registration Statement, Prospectus, Free Writing Prospectus or any amendment thereof or supplement thereto. In addition to the foregoing, the
rights of WildStar under this Agreement are not otherwise transferable and shall cease and be of no further effect if WildStar ceases to be controlled by the Sands Family, in which event the Stockholders shall select a new representative to replace
WildStar pursuant to Section 9(p) . 
 (e) Notices. All notices, requests and other communications to any party hereunder
shall be in writing (including email) and shall be given: 
 If to the Company, to: 

Constellation Brands, Inc. 
 207
High Point Drive, Building 100, 
 Victor, NY, 14564 

Attention: James O. Bourdeau, Executive Vice President and Chief Legal Officer 

Email: jim.bourdeau@cbrands.com 

with a copy (which shall not constitute notice) to: 

Kirkland & Ellis LLP 

601 Lexington Avenue 
 New York,
NY 10022 
 Attn: Eric L. Schiele, P.C. 

David M. Klein, P.C. 
 Carlo
Zenkner 
 Email: eric.schiele@kirkland.com; 

dklein@kirkland.com; 

carlo.zenkner@kirkland.com 

  
 17 

 if to WildStar, on behalf of the Stockholders, to: 

WildStar Partners LLC 
 207 High
Point Dr., Bldg. 100 
 Victor, NY 14564 

Attention: Thomas M. Farace 

Phone: (585) 678-7344 

Email: tom.farace@wildstarpartners.com 

with a copy (which shall not constitute notice) to: 

Wachtell, Lipton, Rosen & Katz 

51 West 52nd Street 
 New York,
New York 10019 
 Attention:      Daniel A. Neff, Esq. 

             David M. Silk, Esq. 

             Victor Goldfeld, Esq. 

Phone: (212) 403-1000 

Email: DANeff@wlrk.com; DMSilk@wlrk.com; VGolfeld@wlrk.com 

or such other physical address or email address as such party may hereafter specify for the purpose by notice to the other parties hereto.

 All such notices, requests and other communications shall be deemed received on the date of receipt by the recipient thereof if received
prior to 5:00 p.m. on a Business Day in the place of receipt. Otherwise, any such notice, request or communication shall be deemed to have been received on the next succeeding Business Day in the place of receipt. 

(f) Further Assurances. At any time or from time to time after the date hereof, the parties agree to cooperate with each other,
and at the request of any other party, to execute and deliver any further instruments or documents and to take all such further action as the other party may reasonably request in order to evidence or effectuate the consummation of the transactions
contemplated hereby and to otherwise carry out the intent of the parties hereunder. 
 (g) No Inconsistent Agreements. The
Company shall not hereafter enter into any agreement with respect to its securities, including any other registration rights agreement, which is inconsistent with or violates the rights granted to the holders of Registrable Securities in this
Agreement. 
 (h) Entire Agreement; No Third-Party Beneficiaries. This Agreement and the Reclassification Agreement
(i) constitutes the entire agreement among the parties with respect to the subject matter of this Agreement and supersede any prior discussions, correspondence, negotiation, proposed term sheet, agreement, understanding or agreement and there
are no agreements, understandings, representations or warranties between the parties other than those set forth or referred to in this Agreement and (ii) except as provided in Section 6 with respect to an Indemnified
Party, is not intended to confer in or on behalf of any Person not a party to this Agreement (and their successors and assigns) any rights, benefits, causes of action or remedies with respect to the subject matter or any provision hereof. 

(i) Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware
without giving effect to any choice or conflict of law provision or rule (whether of the State of Delaware or any other jurisdiction) that would cause or permit the application of laws of any jurisdictions other than those of the State of Delaware.

 (j) Submission to Jurisdiction; WAIVER OF JURY TRIAL. Each of the parties hereto (i) irrevocably and unconditionally
submits to the exclusive personal jurisdiction of the Court of Chancery of the 

  
 18 

 
State of Delaware, or, if that court does not have jurisdiction, a federal or state court sitting in Wilmington, Delaware (and in each case, any appellate courts thereof) in any action or
proceeding arising out of or relating to this Agreement, (ii) agrees that all claims in respect of such action or proceeding may be heard and determined in any such court, (iii) irrevocably and unconditionally agrees that it shall not
attempt to deny or defeat such personal jurisdiction by motion or other request for leave from any such court and (iv) agrees not to bring any action or proceeding arising out of or relating to this Agreement in any other court. Each party
agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Each of the parties hereto irrevocably and unconditionally
waives any defense of inconvenient forum to the maintenance of any action or proceeding so brought and waives any bond, surety or other security that might be required of any other party with respect thereto. Any party hereto may make service on
another party by sending or delivering a copy of the process to the party to be served at the address and in the manner provided for the giving of notices in Section 9(e). Nothing in this
Section 9(j), however, shall affect the right of any party to serve legal process in any other manner permitted by law. EACH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY
AND ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE ACTIONS OF ANY PARTY IN THE NEGOTIATION, ADMINISTRATION, PERFORMANCE AND
ENFORCEMENT THEREOF. EACH PARTY (A) MAKES THIS WAIVER VOLUNTARILY AND (B) ACKNOWLEDGES THAT SUCH PARTY HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS CONTAINED IN THIS SECTION 9(j). 

(k) Severability. If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction
or other authority to be invalid, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions of this Agreement shall remain in full force and effect and shall in no way be affected, impaired or invalidated so long as
the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any party hereto. Upon such a determination, the parties shall negotiate in good faith to modify this Agreement so as to
effect the original intent of the parties as closely as possible in a mutually acceptable manner in order that the transactions contemplated hereby be consummated as originally contemplated to the fullest extent possible. 

(l) Enforcement. Each party hereto acknowledges that money damages would not be an adequate remedy in the event that any of the
covenants or agreements in this Agreement are not performed in accordance with its terms, and it is therefore agreed that in addition to and without limiting any other remedy or right it may have, the
non-breaching party will have the right to an injunction, temporary restraining order or other equitable relief in any court of competent jurisdiction enjoining any such breach and enforcing specifically the
terms and provisions hereof. In any action or proceeding brought to enforce any provision of this Agreement, the successful party shall be entitled to recover reasonable attorneys’ fees in addition to its costs and expenses and other available
remedies. 
 (m) No Recourse. Notwithstanding anything that may be expressed or implied in this Agreement to the contrary, the
Company and each Stockholder covenant, agree and acknowledge that no recourse under this Agreement or any documents or instruments delivered in connection with this Agreement shall be had against any current or future director, officer, employee,
shareholder, general or limited partner or member of any Stockholder or of any Affiliate or assignee thereof, whether by the enforcement of any assessment or by any legal or equitable proceeding, or by virtue of any statute, regulation or other
applicable law, it being expressly agreed and acknowledged that no personal liability whatsoever shall attach to, be imposed on or otherwise be incurred by any current or future director, officer, employee, shareholder, general or limited partner or
member of any Stockholder or of any Affiliate or assignee thereof, as such for any obligation of any Stockholder under this Agreement or any documents or instruments delivered in connection with this Agreement for any claim based on, in respect of
or by reason of such obligations or their creation. 

  
 19 

 (n) Counterparts; Facsimile Signatures. This Agreement, the agreements
referred to herein, and each other agreement or instrument entered into in connection herewith or therewith or contemplated hereby or thereby, and any amendments hereto or thereto, to the extent executed and delivered by means of a photographic,
photostatic, facsimile or similar reproduction of such signed writing using a facsimile machine or electronic mail will be treated in all manner and respects as an original agreement or instrument and will be considered to have the same binding
legal effect as if it were the original signed version thereof delivered in person. No party hereto or to any such agreement or instrument will raise the use of a facsimile machine or electronic mail to deliver a signature or the fact that any
signature or agreement or instrument was transmitted or communicated through the use of a facsimile machine or electronic mail as a defense to the formation or enforceability of a contract and each such party forever waives any such defense. After
the execution of this Agreement, any Family-Related Person holding shares of common stock of the Company may deliver to the other parties hereto a counterpart signature to this Agreement and in connection therewith shall be a “Stockholder”
for all purposes of the Agreement. 
 (o) Dividends, Recapitalizations, Etc. If at any time or from time to time there is any
change in the capital structure of the Company by way of a stock split, stock dividend, combination or reclassification, or through a merger, consolidation, reorganization or recapitalization, or by any other means, appropriate adjustment will be
made in the provisions hereof so that the rights and privileges granted hereby will continue. 
 (p) WildStar. It is
understood and agreed that WildStar Partners LLC (“WildStar”) shall, subject to the last sentence of this Section 9(p), act as representative for, and on behalf of, the Stockholders and any other
Family-Related Persons that agree to be bound by this Agreement, including by providing notice and instructions to the Company in respect of the exercise of registration rights on behalf of the Stockholders. The Company is entitled to rely upon such
notice and instructions by WildStar, or any such designee(s), as if provided by the Stockholders or Family-Related Persons themselves, and all references herein to any requests or notices to be provided by the Stockholders shall be interpreted
accordingly. In addition, the Company is entitled to provide any notice required hereunder to the Stockholders to WildStar on behalf of the Stockholders or Family-Related Persons, and such notices shall be considered given to the Stockholders or
Family-Related Persons themselves, and all references herein to any requests or notices to be provided by the Company shall be interpreted accordingly. The Stockholders holding a majority of the Registrable Securities may designate a replacement to
WildStar by providing written notice to the Company of such replacement Stockholder representative, and all references to WildStar hereunder will be deemed to refer to such replacement Stockholder representative. 

(q) Interpretation. When a reference is made in this Agreement to Sections, Schedules or Annexes, such reference shall be
to a Section of or Schedule or Annex to this Agreement unless otherwise indicated. The headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. The
term “party” shall be deemed to refer to either the Company, on the one hand, or the Stockholders, on the other hand, as the case may be. Whenever the words “include,” “includes” or “including” are used in
this Agreement, they shall be deemed to be followed by the words “without limitation.” Except as otherwise specified, any reference to a contract, instrument or other document as of a given date means the contract, instrument or other
document as amended, supplemented and modified. Words in singular will be held to include the plural and vice versa and a word of one gender will be held to include the other genders as the context requires. The word “or” will not be
exclusive. The phrases “the date of this Agreement” and “the date hereof” shall be deemed to refer to the date set forth on the first page this Agreement. The parties agree that this Agreement is the product of discussions and
negotiations between the parties and their respective advisors, each of the parties was represented by counsel in connection therewith and, accordingly, this Agreement and any document generated in connection herewith shall be construed without
regard to any presumption or rule requiring construction or interpretation against the party drafting or causing any document to be drafted. 

[Remainder of page left intentionally blank] 

  
 20 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the Effective Date. 

 

			
	
	 COMPANY:

	
	 CONSTELLATION BRANDS, INC.

		
	 By: 
	 	 /s/ James O.
Bourdeau

 
			
	 Name: James O. Bourdeau

	 Title: Executive Vice President and Chief Legal Officer

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the Effective Date. 

 

			
	RICHARD SANDS
		
	By:	 	 /s/ Richard Sands

 

			
	Name:	 	Richard Sands

  

			
	ROBERT SANDS
		
	By:	 	 /s/ Robert Sands

 
			
	Name:	 	Robert Sands

  

			
	ABIGAIL BENNETT
		
	By:	 	 /s/ Abigail Bennett

			
	Name:	 	Abigail Bennett

  

			
	ZACHARY STERN
		
	By:	 	 /s/ Zachary Stern

 

			
	Name:	 	Zachary Stern

  

			
	 RICHARD SANDS MASTER TRUST

	IN ITS CAPACITY AS SOLE MEMBER OF RES MASTER LLC
		
	By:	 	 /s/ Richard Sands

 

			
	Name:	 	Richard Sands
	Title:	 	Trustee

  

			
	 ROBERT S. SANDS MASTER TRUST

	IN ITS CAPACITY AS SOLE MEMBER OF RSS MASTER LLC
		
	By:	 	 /s/ Robert Sands

 
			
	Name:	 	Robert Sands
	Title:	 	Trustee

  

			
	ASTRA LEGACY LLC
		
	By:	 	 /s/ Abigail Bennett

	Name:	 	Abigail Bennett
	Title:	 	President

 
			
	WILDSTAR PARTNERS LLC
		
	By:	 	 /s/ Thomas M. Farace

	Name:	 	Thomas M. Farace
	Title:	 	Chief Executive Officer

  

			
	 WILDSTAR PARTNERS LLC

	IN ITS CAPACITY AS MANAGING GENERAL PARTNER OF RES BUSINESS HOLDINGS LP
		
	By:	 	 /s/ Thomas M. Farace

	Name:	 	Thomas M. Farace
	Title:	 	Chief Executive Officer

  

			
	 WILDSTAR PARTNERS LLC

	IN ITS CAPACITY AS MANAGING GENERAL PARTNER OF SER BUSINESS HOLDINGS LP
		
	By:	 	 /s/ Thomas M. Farace

	Name:	 	Thomas M. Farace
	Title:	 	Chief Executive Officer

  

			
	 WILDSTAR PARTNERS LLC

	IN ITS CAPACITY AS MANAGING GENERAL PARTNER OF RHT 2015 BUSINESS HOLDINGS LP
		
	By:	 	 /s/ Thomas M. Farace

			
	Name:	 	Thomas M. Farace
	Title:	 	Chief Executive Officer

  

			
	 WILDSTAR PARTNERS LLC

	IN ITS CAPACITY AS MANAGING GENERAL PARTNER OF RSS BUSINESS HOLDINGS LP
		
	By:	 	 /s/ Thomas M. Farace

			
	Name:	 	Thomas M. Farace
	Title:	 	Chief Executive Officer

  

			
	 WILDSTAR PARTNERS LLC

	IN ITS CAPACITY AS MANAGING GENERAL PARTNER OF SSR BUSINESS HOLDINGS LP
		
	By:	 	 /s/ Thomas M. Farace

			
	Name:	 	Thomas M. Farace
	Title:	 	Chief Executive Officer

 
			
	 WILDSTAR PARTNERS LLC

	IN ITS CAPACITY AS MANAGING GENERAL PARTNER OF RSS 2015 BUSINESS HOLDINGS LP
		
	By:	 	 /s/ Thomas M. Farace

	Name:	 	Thomas M. Farace
	Title:	 	Chief Executive Officer

  

			
	 WILDSTAR PARTNERS LLC

	IN ITS CAPACITY AS MANAGING GENERAL PARTNER OF RCT 2015 BUSINESS HOLDINGS LP
		
	By:	 	 /s/ Thomas M. Farace

	Name:	 	Thomas M. Farace
	Title:	 	Chief Executive Officer

  

			
	 WILDSTAR PARTNERS LLC

	IN ITS CAPACITY AS MANAGING GENERAL PARTNER OF RCT 2015 BUSINESS HOLDINGS LP, SOLE MEMBER OF RCT 2020 INVESTMENTS LLC
		
	By:	 	 /s/ Thomas M. Farace

	Name:	 	Thomas M. Farace
	Title:	 	Chief Executive Officer

  

			
	 WILDSTAR PARTNERS LLC

	IN ITS CAPACITY AS MANAGING GENERAL PARTNER OF A&Z 2015 BUSINESS HOLDINGS LP
		
	By:	 	 /s/ Thomas M. Farace

	Name:	 	Thomas M. Farace
	Title:	 	Chief Executive Officer

  

			
	 WILDSTAR PARTNERS LLC

	IN ITS CAPACITY AS MANAGING GENERAL PARTNER OF MAS BUSINESS HOLDINGS LP
		
	By:	 	 /s/ Thomas M. Farace

			
	Name:	 	Thomas M. Farace
	Title:	 	Chief Executive Officer

  

			
	NSDT 2009 STZ LLC
		
	By:	 	 /s/ Thomas M. Farace

			
	Name:	 	Thomas M. Farace
	Title:	 	Manager

 
			
	NSDT 2011 STZ LLC
		
	By:	 	 /s/ Thomas M. Farace

	Name:	 	Thomas M. Farace
	Title:	 	Manager

  

			
	RSS BUSINESS MANAGEMENT LLC
		
	By:	 	 /s/ Thomas M. Farace

	Name:	 	Thomas M. Farace
	Title:	 	Secretary

  

			
	SSR BUSINESS MANAGEMENT LLC
		
	By:	 	 /s/ Thomas M. Farace

	Name:	 	Thomas M. Farace
	Title:	 	Secretary

  

			
	LES LAUREN HOLDINGS LLC
		
	By:	 	 /s/ Thomas M. Farace

	Name:	 	Thomas M. Farace
	Title:	 	Manager

  

			
	MES MACKENZIE HOLDINGS LLC
		
	By:	 	 /s/ Thomas M. Farace

	Name:	 	Thomas M. Farace
	Title:	 	Manager

  

			
	THE MARILYN SANDS MASTER TRUST
		
	By:	 	 /s/ Thomas M. Farace

			
	Name:	 	Thomas M. Farace
	Title:	 	Trustee

  

			
	SANDS FAMILY FOUNDATION
		
	By:	 	 /s/ Thomas M. Farace

			
	Name:	 	Thomas M. Farace
	Title:	 	Secretary

 Exhibit A 
  

	
	 •  RES Master LLC

	
	 •  RES Business Holdings LP

	
	 •  SER Business Holdings LP

	
	 •  RHT 2015 Business Holdings LP

	
	 •  RSS Master LLC

	
	 •  RSS Business Holdings LP

	
	 •  SSR Business Holdings LP

	
	 •  RSS 2015 Business Holdings LP

	
	 •  RCT 2015 Business Holdings LP

	
	 •  RCT 2020 Investments LLC

	
	 •  NSDT 2009 STZ LLC

	
	 •  NSDT 2011 STZ LLC

	
	 •  RSS Business Management LLC

	
	 •  SSR Business Management LLC

	
	 •  LES Lauren Holdings LLC

	
	 •  MES Mackenzie Holdings LLC

	
	 •  Abigail Bennett

	
	 •  Zachary Stern

	
	 •  A&Z 2015 Business Holdings LP*

	
	 •  Marilyn Sands Master Trust

	
	 •  MAS Business Holdings LP

	
	 •  Sands Family Foundation

	
	 •  Richard Sands

	
	 •  Robert Sands

	
	 •  WildStar Partners LLC

	
	 •  Astra Legacy LLC

 Exhibit B 

JOINDER 
 The
undersigned is executing and delivering this Joinder pursuant to the Registration Rights Agreement dated as of                     ,
20     (as amended, modified and supplemented from time to time, the “Registration Agreement”), among by and among Constellation Brands, Inc., a Delaware corporation (the “Company”), and
the other persons named as parties therein (including pursuant to other Joinders). Capitalized terms used herein have the meaning set forth in the Registration Agreement. 

By executing and delivering this Joinder to the Company, the undersigned hereby agrees to become a party to, to be bound by, and to comply
with the provisions of, the Registration Agreement as a Stockholder in the same manner as if the undersigned were an original signatory to the Registration Agreement, and the undersigned will be deemed for all purposes to be a Stockholder and the
undersigned’s Class A Common Stock will be deemed for all purposes to be Registrable Securities under the Registration Agreement. 

Accordingly, the undersigned has executed and delivered this Joinder as of the      day of
                , 20        . 

 

			
	 
	 Signature

	
	   

	 Print Name

	
		
	 Address: 
	 	 
	 
	 

  

	
	 Agreed and Accepted as of

	
                   
         , 20        :

	
	 CONSTELLATION BRANDS, INC.

	 By:
                                         
       

	 Its:

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