Document:

EX-4.6

 Exhibit 4.6 

BRIGHTSPRING HEALTH SERVICES, INC., 

as Issuer, 
 AND 

U.S. BANK N.A., 
 as
Trustee 
 First Supplemental Indenture 

Dated as of [•], 2022 
 to
Indenture 
 Dated as of [•], 2022 

[•]% Senior Amortizing Notes due 2025 
  

 TABLE OF CONTENTS 

Page 
  

					
	ARTICLE 1
	
	DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION
			
	Section 1.01.	 	Scope of Supplemental Indenture; General	  	1
	Section 1.02.	 	Definitions	  	2
	
	ARTICLE 2
	
	THE SECURITIES
			
	Section 2.01.	 	Title and Terms	  	5
	Section 2.02.	 	Installment Payments	  	6
	Section 2.03.	 	Maturity Date	  	8
	Section 2.04.	 	Right to Exchange or Register a Transfer	  	8
	
	ARTICLE 3
	
	SATISFACTION AND DISCHARGE
			
	Section 3.01.	 	Amendments to Article IV of the Base Indenture	  	9
	
	ARTICLE 4
	
	DEFAULTS AND REMEDIES
			
	Section 4.01.	 	Amendments to Article V of the Base Indenture	  	10
	
	ARTICLE 5
	
	THE TRUSTEE
			
	Section 5.01.	 	Amendments to Article VI of the Base Indenture	  	16
	
	ARTICLE 6
	
	SUCCESSOR CORPORATION
			
	Section 6.01.	 	Amendments to Article VIII of the Base Indenture	  	17
	ARTICLE 7
	
	AMENDMENTS, SUPPLEMENTS AND WAIVERS
			
	Section 7.01.	 	Amendments to Article IX of the Base Indenture	  	18

  
 i 

					
	ARTICLE 8
	
	COVENANTS
			
	Section 8.01.	 	Amendments to Article X of the Base Indenture	  	20
	
	ARTICLE 9
	
	NO REDEMPTION
			
	Section 9.01.	 	Article XI of the Base Indenture Inapplicable	  	21
	
	ARTICLE 10
	
	DEFEASANCE AND COVENANT DEFEASANCE
			
	Section 10.01.	 	Amendments to Article XIV of the Base Indenture	  	21
	
	ARTICLE 11
	
	REPURCHASE OF NOTES AT THE OPTION OF THE HOLDER
			
	Section 11.01.	 	Offer to Repurchase	  	24
	Section 11.02.	 	Early Mandatory Settlement Notice	  	24
	Section 11.03.	 	Procedures for Exercise	  	24
	Section 11.04.	 	Withdrawal of Repurchase Notice	  	25
	Section 11.05.	 	Effect of Repurchase	  	25
	Section 11.06.	 	No Sinking Fund	  	26
	
	ARTICLE 12
	
	TAX TREATMENT
			
	Section 12.01.	 	Tax Treatment	  	26
	
	ARTICLE 13
	
	MISCELLANEOUS
			
	Section 13.01.	 	Conflict with Trust Indenture Act	  	26
	Section 13.02.	 	Effect of Headings and Table of Contents	  	26
	Section 13.03.	 	Successors and Assigns	  	26
	Section 13.04.	 	Separability	  	26
	Section 13.05.	 	Benefits of Supplemental Indenture	  	26
	Section 13.06.	 	Governing Law and Jury Trial Waiver	  	27
	Section 13.07.	 	Electronic Signatures	  	27
	Section 13.08.	 	Ratification of Indenture	  	27

 Exhibit A – Form of Note 

  
 ii 

 FIRST SUPPLEMENTAL INDENTURE dated as of [•], 2022 (this “Supplemental
Indenture”) between BRIGHTSPRING HEALTH SERVICES, INC., a Delaware corporation (the “Company”), and U.S. BANK N.A., a national banking association, as trustee (the “Trustee”), supplementing the Indenture
dated as of [•], 2022, between the Company and the Trustee (the “Base Indenture”). 
 RECITALS OF THE COMPANY: 

WHEREAS, the Company executed and delivered the Base Indenture to provide for, among other things, the issuance of unsecured debt securities
in an unlimited aggregate principal amount to be issued from time to time in one or more series as provided in the Base Indenture; 

WHEREAS, the Base Indenture provides that the Company may enter into an indenture supplemental to the Base Indenture to establish the form and
terms of any series of Securities as provided by Section 3.01 and Section 9.01(7) of the Base Indenture; 
 WHEREAS, the Company
desires and has requested the Trustee to join it in the execution and delivery of this Supplemental Indenture in order to establish and provide for the issuance by the Company of a series of Securities designated as its [•]% Senior Amortizing
Notes due 2025 (the “Notes”, and each $[•] of initial principal amount of such Securities, a “Note”), substantially in the form attached hereto as Exhibit A, on the terms set forth herein; 

WHEREAS, the Company now wishes to issue Notes in an aggregate initial principal amount of $[•] (as increased by an amount equal to the
Initial Principal Amount multiplied by the number of additional Units purchased by the Underwriters pursuant to any exercise of their option to purchase such Units as described in the Prospectus), each Note initially to be issued as a
component of the Units (as defined herein) being issued on the date hereof by the Company pursuant to the Purchase Contract Agreement, dated as of [•], 2022, between the Company and U.S. Bank N.A., as Purchase Contract Agent, as Trustee and as attorney-in-fact for the holders of Equity-Linked Securities from time to time (the “Purchase Contract Agreement”); and 

WHEREAS, the Company has requested that the Trustee execute and deliver this Supplemental Indenture, and all requirements necessary to make
(i) this Supplemental Indenture a valid instrument in accordance with its terms and (ii) the Notes, when executed by the Company and authenticated and delivered by the Trustee, the valid obligations of the Company, have been performed, and
the execution and delivery of this Supplemental Indenture have been duly authorized in all respects. 
 NOW, THEREFORE, THIS SUPPLEMENTAL
INDENTURE WITNESSETH, for and in consideration of the premises and the purchases of the Notes by the Holders thereof, it is mutually agreed, for the benefit of the parties hereto and the equal and proportionate benefit of all Holders of the Notes,
as follows: 
 ARTICLE 1 

DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION 

Section 1.01. Scope of Supplemental Indenture; General. The changes, modifications and supplements to the Base Indenture
effected by this Supplemental Indenture shall be applicable only with respect to, and govern the terms of, the Notes (which shall be initially in the aggregate initial principal amount of $[•] (as increased by an amount equal to the Initial
Principal Amount multiplied by the number of additional Units purchased by the Underwriters pursuant to any exercise of their option to purchase such Units as described in the Prospectus)) and shall not apply to any other Securities that may
be issued under the Base Indenture unless a supplemental indenture with respect to such other Securities specifically incorporates such changes, modifications and supplements. This Supplemental Indenture shall supersede any corresponding provisions
in the Base Indenture. 

 Section 1.02. Definitions. For all purposes of the Indenture, except as otherwise
expressly provided or unless the context otherwise requires: 
 (i) the terms defined in this Article 1 shall have the
meanings assigned to them in this Article and include the plural as well as the singular; 
 (ii) all words, terms and
phrases defined in the Base Indenture (but not otherwise defined herein) shall have the same meaning herein as in the Base Indenture; 

(iii) all other terms used herein that are defined in the Trust Indenture Act, either directly or by reference therein, shall
have the meanings assigned to them therein; and 
 (iv) the words “herein,” “hereof” and
“hereunder” and other words of similar import refer to this Supplemental Indenture as a whole and not to any particular Article, Section or other subdivision. 

“Agent Members” has the meaning ascribed to such term in Section 2.01(d). 

“Base Indenture” has the meaning ascribed to it in the preamble hereof. 

“Beneficial Holder” means, with respect to a Global Note, a Person who is the beneficial owner of such Book-Entry Interest as
reflected on the books of the Depositary or on the books of a Person maintaining an account with the Depositary (directly as a Depositary Participant or as an indirect participant, in each case in accordance with the rules of the Depositary). 

“Book-Entry Interest” means a beneficial interest in a Global Note, registered in the name of a Depositary or a nominee
thereof, ownership and transfers of which shall be maintained and made through book entries by such Depositary. 
 “Certificated
Note” means a Note in definitive registered form without interest coupons. 
 “close of business” means 5:00 p.m.
(New York City time). 
 “Common Stock” means the common stock, par value $0.01 per share, of the Company or such other
securities or assets as shall be deliverable in replacement thereof under the Purchase Contract Agreement pursuant to the terms thereof. 

“Company” has the meaning ascribed to it in the preamble hereof and shall also refer to any successor obligor under the
Indenture. 
 “Component Note” means a Note in global form and attached to a Global Unit that (a) shall evidence the
number of Notes specified therein that are components of the Units evidenced by such Global Unit, (b) shall be registered on the Security Register for the Notes in the name of the Purchase Contract Agent, as attorney-in-fact of holder(s) of the Units of which such Notes form a part, and (c) shall be held by the Purchase Contract Agent as
attorney-in-fact for such holder(s), together with the Global Unit, as custodian of such Global Unit for the Depositary. 

  
 2 

 “Defaulted Installment Payment” has the meaning ascribed to it in
Section 2.02(d). 
 “Depositary” means The Depository Trust Company until a successor Depositary shall have become
such pursuant to the applicable provisions of the Indenture, and thereafter “Depositary” shall mean such successor Depositary. 

“Depositary Participant” means a broker, dealer, bank, other financial institution or other Person for whom from time to time
the Depositary effects book-entry transfers of securities deposited with the Depositary. 
 “Early Mandatory Settlement
Date” has the meaning ascribed to it in the Purchase Contract Agreement. 
 “Early Mandatory Settlement Notice”
has the meaning ascribed to it in the Purchase Contract Agreement. 
 “Early Mandatory Settlement Right” has the meaning
ascribed to it in the Purchase Contract Agreement. 
 “Equity-Linked Securities” has the meaning ascribed to it in the
Purchase Contract Agreement. 
 “Fundamental Change” has the meaning ascribed to such term in the Purchase Contract
Agreement. 
 “Global Note” means any Note that is a Global Security. 

“Global Unit” has the meaning ascribed to such term in the Purchase Contract Agreement. 

“Holder” means the Person in whose name a Note is registered on the Security Registrar’s books. 

“Indenture” means the Base Indenture, as supplemented by this Supplemental Indenture as originally executed or as it may from
time to time be supplemented or amended by one or more indentures supplemental thereto entered into pursuant to the applicable provisions thereof, including, for all purposes of this instrument and any such supplemental indenture, the provisions of
the Trust Indenture Act that are deemed to be a part of and govern the Base Indenture, this Supplemental Indenture and any such supplemental indenture, respectively. 

“Initial Principal Amount” means $[•] initial principal amount per Note. 

“Installment Payment” has the meaning ascribed to it in Section 2.02(a). 

“Installment Payment Date” means each [•], [•], [•] and [•], commencing on [•], 2022 and ending on
the Maturity Date. 
 “Installment Payment Period” means (i) in the case of the first Installment Payment Date on
[•], 2022, the period from, and including, the Issue Date to, but excluding, such first Installment Payment Date and (ii) in the case of any subsequent Installment Payment Date, the quarterly period from, and including, the immediately
preceding Installment Payment Date to, but excluding, such Installment Payment Date. 
 “Issue Date” means [•], 2022.

  
 3 

 “Maturity” when used with respect to any Note, means the date on which any
Installment Payment becomes due and payable as therein or herein provided, whether at the Stated Maturity or by declaration of acceleration or otherwise. 

“Maturity Date” means [•], 2025. 

“Note” and “Notes” have the respective meanings ascribed to such terms in the preamble hereof and include,
for the avoidance of doubt, both Separate Notes and Notes that constitute part of a Unit. 
 “Paying Agent” means any
Person (including the Company) authorized by the Company to pay the principal amount of or interest on any Notes on behalf of the Company. The Paying Agent shall initially be the Trustee. 

“Prospectus” means the preliminary prospectus dated [•], 2022, as supplemented and/or amended by the related pricing
term sheet dated [•], 2022, related to the offering and sale of the Notes. 
 “Purchase Contract” means a prepaid
stock purchase contract obligating the Company to deliver shares of Common Stock on the terms and subject to the conditions set forth in the Purchase Contract Agreement. 

“Purchase Contract Agent” means U.S. Bank N.A., as purchase contract agent under the Purchase Contract Agreement, until a
successor Purchase Contract Agent shall have become such pursuant to the applicable provisions of the Purchase Contract Agreement, and thereafter “Purchase Contract Agent” shall mean such Person. 

“Purchase Contract Agreement” has the meaning ascribed to it in the preamble hereof. 

“Regular Record Date” means, with respect to any [•], [•], [•] and [•] Installment Payment Date, the
immediately preceding [•], [•], [•] or [•], respectively. 
 “Reporting Event of Default” has the
meaning ascribed to it in Section 5.16. 
 “Repurchase Date” shall be a date specified by the Company in the Early
Mandatory Settlement Notice, which date shall be at least 20 but not more than 35 Business Days following the date of the Early Mandatory Settlement Notice (and which may or may not fall on the Early Mandatory Settlement Date). 

“Repurchase Notice” means a notice in the form entitled “Form of Repurchase Notice” attached to the Notes. 

“Repurchase Price” means, (a) with respect to a Note to be repurchased pursuant to Article 11, an amount equal to
the principal amount of such Note as of the Repurchase Date, plus accrued and unpaid interest, if any, on such principal amount from, and including, the immediately preceding Installment Payment Date (or, if none, from, and including, the
Issue Date) to, but not including, such Repurchase Date, calculated at an annual rate of [•]%; provided that, if the Repurchase Date falls after a Regular Record Date for any Installment Payment and on or prior to the immediately
succeeding Installment Payment Date, the Installment Payment payable on such Installment Payment Date will be paid on such Installment Payment Date to the holder as of such Regular Record Date and will not be included in the Repurchase Price per
Note or (b) with respect to a Note that has been accelerated pursuant to Article 5, an amount equal to the principal amount of such Note as of the date of acceleration, plus accrued and unpaid interest, if any, on such principal amount from,
and including, the last Installment Payment Date in respect of which the relevant Installment Payment was paid (or, if none, from, and including, the Issue Date) to, but not including, the date of acceleration. 

  
 4 

 “Repurchase Right” has the meaning ascribed to it in Section 11.01.

 “Separate Note” means a Note that has been separated from a Unit in accordance with the terms of the Purchase Contract
Agreement. 
 “Separate Purchase Contract” means a Purchase Contract that has been separated from a Unit in accordance with
the terms of the Purchase Contract Agreement. 
 “Special Interest” means any interest that accrues on any Note pursuant to
Section 5.16. 
 “Stated Maturity”, when used with respect to any Note or any Installment Payment thereon, means the
date specified in such Note as the fixed date on which the Repurchase Price of such Note or such Installment Payment is due and payable. 

“Supplemental Indenture” has the meaning ascribed to it in the preamble hereof. 

“Surviving Person” has the meaning ascribed to it in Section 6.01(a) 

“Trustee” means the party named in the preamble hereof until a successor replaces such party in accordance with the
applicable provisions of the Indenture and thereafter means the successor serving hereunder. 
 “Underwriters” means
Goldman Sachs & Co. LLC, Jefferies LLC, KKR Capital Market LLC, Credit Suisse Securities (USA) LLC, Guggenheim Securities, LLC, SVB Leerink LLC, BofA Securities, Inc., BMO Capital Markets Corp., Deutsche Bank Securities Inc., HSBC
Securities (USA) Inc., Mizuho Securities USA LLC, Morgan Stanley & Co. LLC, Wells Fargo Securities, LLC and William Blair & Company, L.L.C. 

“Unit” means the collective rights of a holder of a [•]% Tangible Equity Unit, with a stated amount of $50.00
(representing an issue price of $[•] for the Note included in each Unit and an issue price of $[•] for the Purchase Contract included in each Unit), issued by the Company pursuant to the Purchase Contract Agreement, each consisting of a
single Purchase Contract and a single Note prior to separation or subsequent to recreation thereof pursuant to the Purchase Contract Agreement. 

ARTICLE 2 
 THE SECURITIES 

Section 2.01. Title and Terms. 

(a) There is hereby authorized a series of Securities designated the “[•]% Senior Amortizing Notes due 2025” limited in
aggregate initial principal amount to $[•] (as increased by an amount equal to the Initial Principal Amount multiplied by the number of additional Units purchased by the Underwriters pursuant to any exercise of their option to purchase
such Units as described in the Prospectus), which amount shall be as set forth in any written order of the Company for authentication and delivery of Notes pursuant to Section 3.03 of the Base Indenture. 

  
 5 

 (b) The Notes will initially be issued as Component Notes in substantially the form of
Attachment 4 to the form of Global Unit attached as Exhibit A to the Purchase Contract Agreement, with such appropriate insertions, omissions, substitutions and other variations as are required or permitted by the Indenture, and may have such
letters, numbers or other marks of identification and such legends or endorsements placed thereon as may be required to comply with the rules of any securities exchange or as may, consistently herewith, be determined by the officers of the Company
executing such Notes, as evidenced by their execution of the Notes. The Notes will initially be attached to the related Global Unit and registered in the name of U.S. Bank N.A., as
attorney-in-fact of the holder(s) of such Global Unit. 
 (c)
Holders of Units have the right to separate such Units into their constituent parts, consisting of Separate Purchase Contracts and Separate Notes, during the times, and under the circumstances, described in Section 2.03 of the Purchase Contract
Agreement. Upon separation of any Unit into its constituent parts, (i) if such Unit is a Global Unit, the Separate Notes will initially be evidenced by a Global Note (the “Global Note”) in substantially the form of Exhibit A
hereto, which is incorporated into and shall be deemed a part of this Supplemental Indenture, and deposited with the Trustee as custodian for the Depositary and registered in the name of the Depositary or its nominee, or (ii) if such Unit is in
definitive, registered form, the Separate Notes will be evidenced by Certificated Notes in substantially the form of Exhibit A hereto, in each case, as provided in Section 2.03 of the Purchase Contract Agreement. Following separation of any
Unit into its constituent Separate Note and Separate Purchase Contract, the Separate Notes are transferable independently from the Separate Purchase Contracts. In addition, Separate Notes can be recombined with Separate Purchase Contracts to
recreate Units, as provided for in Section 2.04 of the Purchase Contract Agreement. 
 (d) The Global Note representing Separate Notes
(which shall initially have a balance of zero Notes) shall be registered in the name of Cede & Co., as nominee of the Depositary and delivered to the Trustee, as custodian for the Depositary. Members of, or participants in, the Depositary
(“Agent Members”) shall have no rights under the Indenture with respect to any Global Note (or any Global Unit in the case of Component Notes) held on their behalf by the Depositary, or the Trustee as its custodian, or under the
Global Note (or such Global Unit), and the Depositary may be treated by the Company, the Trustee and any agent of the Company or the Trustee as the absolute owner of the Global Note (or such Global Unit) for all purposes whatsoever. Notwithstanding
the foregoing, nothing herein shall prevent the Company, the Trustee or any agent of the Company or the Trustee from giving effect to any written certification, proxy or other authorization furnished by the Depositary or impair, as between the
Depositary and its Agent Members, the operation of customary practices governing the exercise of the rights of any Holder. 
 (e) The Notes
shall be issuable in denominations of initial principal amounts equal to the Initial Principal Amount and integral multiples in excess thereof. 

Section 2.02. Installment Payments. (a) The Company shall pay installments on the Notes (each such payment, an
“Installment Payment”) in cash at the place, at the respective times and in the manner provided in the Notes. Installment Payments shall be paid to the Person in whose name a Note is registered at the close of business on the
Regular Record Date corresponding to such Installment Payment Date. The Company has initially designated the Trustee as its Paying Agent and Security Registrar in respect of the Notes and its agency in New York, New York as a place where Notes may
be presented for payment or for registration of transfer. The Company may, however, change the Paying Agent or Security Registrar for the Notes without prior notice to the Holders thereof, and the Company may act as Paying Agent or Security
Registrar. 

  
 6 

 (b) On the first Installment Payment Date occurring on [•], 2022, the Company shall
pay, in cash, an Installment Payment with respect to each Note in an amount equal to $[•] per Note, and on each Installment Payment Date thereafter, the Company shall pay, in cash, equal quarterly Installment Payments with respect to each Note
in an amount equal to $[•] per Note; provided that, in respect of any Certificated Note, the final Installment Payment shall be made only against surrender of such Certificated Note to the Paying Agent. 

(c) Each Installment Payment shall constitute a payment of interest (at a rate of [•]% per annum) and a partial repayment of principal on
the Notes, allocated with respect to each Note as set forth in the schedule below: 
  

									
	 Scheduled Installment Payment Date
	  	Amount of
Principal	 	 	Amount of
Interest	 
	 [•], 2022
	  	$	[	•] 	 	$	[	•] 
	 [•], 2022
	  	$	[	•] 	 	$	[	•] 
	 [•], 2022
	  	$	[	•] 	 	$	[	•] 
	 [•], 2023
	  	$	[	•] 	 	$	[	•] 
	 [•], 2023
	  	$	[	•] 	 	$	[	•] 
	 [•], 2023
	  	$	[	•] 	 	$	[	•] 
	 [•], 2023
	  	$	[	•] 	 	$	[	•] 
	 [•], 2024
	  	$	[	•] 	 	$	[	•] 
	 [•], 2024
	  	$	[	•] 	 	$	[	•] 
	 [•], 2024
	  	$	[	•] 	 	$	[	•] 
	 [•], 2024
	  	$	[	•] 	 	$	[	•] 
	 [•], 2025
	  	$	[	•] 	 	$	[	•] 

 (d) Each Installment Payment for any Installment Payment Period shall be computed on the basis of a 360-day year of twelve 30-day months. If an Installment Payment is payable for any period shorter or longer than a full Installment Payment Period, such Installment Payment
shall be computed on the basis of the actual number of days elapsed per 30-day month. Furthermore, if any date on which an Installment Payment is payable is not a Business Day, then payment of the Installment
Payment on such date shall be made on the next succeeding day that is a Business Day, and without any interest or other payment in respect of any such delay. 

Any Installment Payment on any Note which is payable, but is not punctually paid or duly provided for, on any Installment Payment Date (herein
called “Defaulted Installment Payment”) shall forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of having been such Holder, and such Defaulted Installment Payment may be paid by the Company,
at its election in each case, as provided in Clause (1) or (2) below: 
 (1) The Company may elect to make payment of any Defaulted
Installment Payment to the Persons in whose names the Notes (or their respective Predecessor Notes) are registered at the close of business on a Special Record Date for the payment of such Defaulted Installment Payment, which shall be fixed in the
following manner. The Company shall notify the Trustee in writing of the amount of Defaulted Installment Payment proposed to be paid on each Note and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee
an amount of money equal to the aggregate amount proposed to be paid in respect of such Defaulted Installment Payment or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when
deposited to be held in trust for the benefit of the Persons entitled to such Defaulted Installment Payment as in this Clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Installment Payment which
shall be not more than 15 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of
such 

  
 7 

 
Special Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Installment Payment and the Special Record Date therefor to be
mailed, first-class postage prepaid, to each Holder of Notes at his address as it appears in the Security Register, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Installment Payment and the
Special Record Date therefor having been so mailed, such Defaulted Installment Payment shall be paid to the Persons in whose names the Notes (or their respective Predecessor Securities) are registered at the close of business on such Special Record
Date and shall no longer be payable pursuant to the following Clause (2). 
 (2) The Company may make payment of any Defaulted Installment
Payment on the Notes in any other lawful manner not inconsistent with the requirements of any securities exchange on which such Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to
the Trustee of the proposed payment pursuant to this Clause, such manner of payment shall be deemed practicable by the Trustee. 

Section 2.03. Maturity Date. The date on which the final Installment Payment on the Notes shall be due, unless the Notes
are accelerated pursuant to the terms hereof or otherwise paid prior to Maturity in connection with a Holder’s exercise of the Repurchase Right, shall be the Maturity Date. 

Section 2.04. Right to Exchange or Register a Transfer. (a) The Company shall not be required to exchange or register
a transfer of any Note if the Holder thereof has exercised his, her or its right, if any, to require the Company to repurchase such Note in whole or in part, except the portion of such Note not required to be repurchased. 

(b) For purposes of any Note that constitutes part of a Unit, Section 3.05 of the Base Indenture (as modified by this Supplemental
Indenture) shall be subject to the provisions of the Purchase Contract Agreement. 
 (c) Notwithstanding anything to the contrary in the Base
Indenture, if: 
 (i) the Depositary is at any time unwilling or unable to continue as depositary for the Global Notes or
ceases to be a Clearing Agency registered under the Exchange Act, and a successor Depositary registered as a Clearing Agency under the Exchange Act is not appointed by the Company within 90 days; or 

(ii) an Event of Default has occurred and is continuing and a Beneficial Holder requests that its Notes be issued in physical,
certificated form, 
 then, in each case the Company shall execute, and the U.S. Trustee, upon receipt of a Company Order for the
authentication and delivery of Certificated Notes, shall authenticate and deliver Certificated Notes representing an aggregate principal amount of Notes with respect to the Global Note or Notes representing such Notes (or representing an aggregate
principal amount of Notes equal to the aggregate principal amount of Notes in respect of which such Beneficial Holder has requested the issuance of Certificated Notes pursuant to clause (ii) above) in exchange for such Global Note or Notes (or
portion thereof). Each Certificated Note so delivered shall evidence Notes of the same kind and tenor as the Global Note so surrendered in respect thereof. 

  
 8 

 ARTICLE 3 

SATISFACTION AND DISCHARGE 

Section 3.01. Amendments to Article IV of the Base Indenture. For purposes of the Notes, Article IV of the Base Indenture shall be
amended and restated in its entirety with the following: 
 “Section 4.01 Satisfaction and Discharge of Indenture. 

This Indenture shall upon Company Request cease to be of further effect (except as to any surviving rights of registration of
transfer or exchange of Notes herein expressly provided for), and the Trustee, at the expense of the Company, shall execute proper instruments acknowledging satisfaction and discharge of this Indenture, when 

(1) either 

(A) all Notes authenticated and delivered (other than (i) Notes which have been destroyed, lost or stolen and which have
been replaced or paid as provided in Section 3.06 and (ii) Notes for whose payment money has theretofore been deposited in trust or segregated and held in trust by the Company and thereafter repaid to the Company or
discharged from such trust, as provided in Section 10.03) have been delivered to the Trustee for cancellation; or 

(B) all such Notes not theretofore delivered to the Trustee for cancellation 

(i) have become due and payable, or 

(ii) will become due and payable at their Maturity Date within one year, and the Company, in the case of (i) or (ii)
above, has deposited or caused to be deposited with the Trustee cash in trust for the benefit of the Holders, sufficient to pay and discharge the entire indebtedness on such Notes not theretofore delivered to the Trustee for cancellation, for
Installment Payments to the date of such deposit (in the case of Notes which have become due and payable) or to the Maturity Date; 

(2) the Company has paid or caused to be paid all other sums payable hereunder by the Company; and 

(3) the Company has delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that all
conditions precedent herein provided for relating to the satisfaction and discharge of this Indenture have been complied with. 

Notwithstanding the satisfaction and discharge of this Indenture, the obligations of the Company to the Trustee under
Section 6.07, and, if money shall have been deposited with the Trustee pursuant to subclause (B) of Clause (1) of this Section, the obligations of the Trustee under Section 4.02 and the
last paragraph of Section 10.03 shall survive such satisfaction and discharge. 

  
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 Section 4.02 Application of Trust Money. 

Subject to the last paragraph of Section 10.03, all money deposited with the Trustee pursuant to
Section 4.01 shall be held in trust and applied by it, in accordance with the provisions of the Notes and this Indenture, to the payment, either directly or through any Paying Agent (including the Company acting as its own
Paying Agent) as the Trustee may determine, to the Persons entitled thereto, of the Installment Payments for whose payment such money has been deposited with the Trustee.” 

ARTICLE 4 
 DEFAULTS AND REMEDIES

 Section 4.01. Amendments to Article V of the Base Indenture. For purposes of the Notes, Article V of the Base Indenture shall be
amended and restated in its entirety by the following: 
 “Section 5.01 Events of Default. 

“Event of Default”, wherever used herein with respect to Notes, means any one of the following events
(whatever the reason for such Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or
governmental body): 
 (1) default in the payment of any Installment Payment on any Notes as and when the same shall become
due and payable and continuance of such failure for a period of 30 days; or 
 (2) default in the payment of the Repurchase
Price of any Notes when the same shall become due and payable; or 
 (3) failure by the Company to give notice of a
Fundamental Change pursuant to Section 4.07 of the Purchase Contract Agreement when due and continuance of such failure for a period of five Business Days; or 

(4) failure by the Company to comply with any of its other agreements or covenants in, or provisions of, the Notes or this
Indenture (other than a covenant or warranty a default in whose performance or whose breach is elsewhere in this Section specifically dealt with or which has expressly been included in this Indenture solely for the benefit of series of Notes other
than the Notes), and such failure continues for the period and after the notice specified in Section 5.02, subject to extension pursuant to Section 5.16; or 

(5) the entry by a court having jurisdiction in the premises of (A) a decree or order for relief in respect of the Company
in an involuntary case or proceeding under any applicable Federal or State bankruptcy, insolvency, reorganization or other similar law or (B) a decree or order adjudging the Company a bankrupt or insolvent, or approving as properly filed a
petition seeking reorganization, arrangement, adjustment or composition of or in respect of the Company under any applicable Federal or State law, or appointing a custodian, receiver, liquidator, assignee, trustee, sequestrator or other similar
official of the Company or of any substantial part of its property, or ordering the winding up or liquidation of its affairs, and the continuance of any such decree or order for relief or any such other decree or order unstayed and in effect for a
period of 60 consecutive days; or 

  
 10 

 (6) the commencement by the Company of a voluntary case or proceeding under
any applicable Federal or State bankruptcy, insolvency, reorganization or other similar law or of any other case or proceeding to be adjudicated a bankrupt or insolvent, or the consent by it to the entry of a decree or order for relief in respect of
the Company in an involuntary case or proceeding under any applicable Federal or State bankruptcy, insolvency, reorganization or other similar law or to the commencement of any bankruptcy or insolvency case or proceeding against it, or the filing by
it of a petition or answer or consent seeking reorganization or relief under any applicable Federal or State law, or the consent by it to the filing of such petition or to the appointment of or taking possession by a custodian, receiver, liquidator,
assignee, trustee, sequestrator or other similar official of the Company or of any substantial part of its property, or the making by it of an assignment for the benefit of creditors, or the admission by it in writing of its inability to pay its
debts generally as they become due, or the taking of corporate action by the Company in furtherance of any such action. 
 Section 5.02
Acceleration of Maturity; Rescission and Annulment. 
 A default as described in
Section 5.01(4) will not be deemed an Event of Default until the Trustee notifies the Company, or the Holders of not less than 25% in principal amount of the Outstanding Notes notifies the Company in writing and the
Trustee, of the default and the Company does not cure the default within 90 calendar days after receipt of such notice. The notice must reference the Company, as issuer, the Units and this Indenture and specify the default, demand that it be
remedied and state that the notice is a “Notice of Default.” If such a default is cured within such time period, it ceases. 

If an Event of Default with respect to Notes at the time Outstanding (other than an Event of Default described in
Section 5.01(5) or Section 5.01(6)) occurs and is continuing, either the Trustee or the Holders of not less than 25% in principal amount of the Outstanding Notes may, by written notice to the
Company (and to the Trustee if given by Holders), declare all Notes to be due and payable immediately. Upon such declaration of acceleration, all future, scheduled Installment Payments on the Notes will be due and payable immediately. If an Event of
Default described in Section 5.01(5) or Section 5.01(6) occurs and is continuing, such amount will automatically become due and payable without any declaration, notice or other act on the part of
the Trustee or any Holders. 
 At any time after such a declaration of acceleration with respect to Notes has been made and
before a judgment or decree for payment of the money due has been obtained by the Trustee as hereinafter in this Article provided, the Holders of a majority in principal amount of the Outstanding Notes, by written notice to the Company and the
Trustee, may rescind and annul such declaration and its consequences if: 
 (1) the Company has paid or deposited with the
Trustee a sum sufficient to pay 
 (A) all overdue Installment Payments on all Notes, 

(B) the Repurchase Price on any Notes which have become due otherwise than by such declaration of acceleration and any interest
thereon at the rate or rates prescribed therefor in such Notes, 
 (C) to the extent that payment of such interest is lawful,
interest upon overdue Repurchase Price and Installment Payments at the rate or rates prescribed therefor in such Notes, and 

(D) all sums paid or advanced by the Trustee hereunder and the reasonable compensation, expenses, disbursements and advances of
the Trustee, its agents and counsel; and 

  
 11 

 (2) all Events of Default with respect to Notes, other than the non-payment of the Repurchase Price of Notes which have become due solely by such declaration of acceleration, have been cured or waived as provided in Section 5.13. 

No such rescission shall affect any subsequent default or impair any right consequent thereon. 

Section 5.03 Collection of Indebtedness and Suits for Enforcement by Trustee. 

The Company covenants that if: 

(3) default is made in the payment of any Installment Payments on any Note when such Installment Payment becomes due and
payable and such default continues for a period of 30 days, or 
 (4) default is made in the Repurchase Price of any Note at
the Maturity thereof, 
 the Company will, upon demand of the Trustee, pay to it, for the benefit of the Holders of such Notes, the whole
amount then due and payable on such Notes for the Repurchase Price and Installment Payments and, to the extent that payment of such interest shall be legally enforceable, interest on any overdue Repurchase Price or Installment Payments, at the rate
or rates prescribed therefor in such Notes, and, in addition thereto, such further amount as shall be sufficient to cover the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the
Trustee, its agents and counsel. 
 If an Event of Default with respect to the Notes occurs and is continuing, the Trustee
may in its discretion proceed to protect and enforce its rights and the rights of the Holders of Notes by such appropriate judicial proceedings as the Trustee shall deem necessary to protect and enforce any such rights, whether for the specific
enforcement of any covenant or agreement in this Indenture or in aid of the exercise of any power granted herein, or to enforce any other proper remedy. 

Section 5.04 Trustee May File Proofs of Claim. 

In case of any judicial proceeding relative to the Company (or any other obligor upon the Notes), its property or its
creditors, the Trustee shall be entitled and empowered, by intervention in such proceeding or otherwise, to take any and all actions authorized under the Trust Indenture Act in order to have claims of the Holders and the Trustee allowed in any such
proceeding. In particular, the Trustee shall be authorized to collect and receive any moneys or other property payable or deliverable on any such claims and to distribute the same; and any custodian, receiver, assignee, trustee, liquidator,
sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Holder to make such payments to the Trustee and, in the event that the Trustee shall consent to the making of such payments directly to the Holders,
to pay to the Trustee any amount due it for the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, and any other amounts due the Trustee under Section 6.07. 

No provision of this Indenture shall be deemed to authorize the Trustee to authorize or consent to or accept or adopt on behalf
of any Holder any plan of reorganization, arrangement, adjustment or composition affecting the Notes or the rights of any Holder thereof or to authorize the Trustee to vote in respect of the claim of any Holder in any such proceeding; provided,
however, that the Trustee may, on behalf of the Holders, vote for the election of a trustee in bankruptcy or similar official and be a member of a creditors’ or other similar committee. 

  
 12 

 Section 5.05 Trustee May Enforce Claims Without Possession of Notes. 

All rights of action and claims under this Indenture or the Notes may be prosecuted and enforced by the Trustee without the
possession of any of the Notes or the production thereof in any proceeding relating thereto, and any such proceeding instituted by the Trustee shall be brought in its own name as trustee of an express trust, and any recovery of judgment shall, after
provision for the payment of the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents and counsel, be for the ratable benefit of the Holders of the Notes in respect of which such judgment has been recovered. 

Section 5.06 Application of Money Collected. 

Any money collected by the Trustee pursuant to this Article shall be applied in the following order, at the date or dates fixed
by the Trustee and, in case of the distribution of such money on account of Repurchase Price or any Installment Payment, upon presentation of the Notes and the notation thereon of the payment if only partially paid and upon surrender thereof if
fully paid: 
 FIRST: To the payment of all amounts due the Trustee under Section 6.07; 

SECOND: To the payment of the amounts then due and unpaid for Repurchase Price and Installment Payments on the Notes, ratably,
without preference or priority of any kind, according to the amounts due and payable on such Notes for Repurchase Price and Installment Payments; and 

THIRD: To the Company. 

Section 5.07 Limitation on Suits. 

No Holder of any Note shall have any right to institute any proceeding, judicial or otherwise, with respect to this Indenture,
or for the appointment of a receiver or trustee, or for any other remedy hereunder, unless 
 (1) such Holder has previously
given written notice to the Trustee of a continuing Event of Default with respect to the Notes; 
 (2) the Holders of not
less than 25% in principal amount of the Outstanding Notes shall have made written request to the Trustee to institute proceedings in respect of such Event of Default in its own name as Trustee hereunder; 

(3) such Holder or Holders have offered to the Trustee reasonable indemnity satisfactory to it against the costs, expenses and
liabilities to be incurred in compliance with such request; 
 (4) the Trustee for 60 days after its receipt of such notice,
request and offer of indemnity has failed to institute any such proceeding; and 

  
 13 

 (5) no direction inconsistent with such written request has been given to
the Trustee during such 60-day period by the Holders of a majority in principal amount of the Outstanding Notes; it being understood and intended that no one or more of such Holders shall have any right in any
manner whatever by virtue of, or by availing of, any provision of this Indenture to affect, disturb or prejudice the rights of any other of such Holders, or to obtain or to seek to obtain priority or preference over any other of such Holders or to
enforce any right under this Indenture, except in the manner herein provided and for the equal and ratable benefit of all of such Holders. 

Section 5.08 Unconditional Right of Holders to Receive Repurchase Price and Installment Payments. 

Notwithstanding any other provision in this Indenture, the Holder of any Note shall have the right, which is absolute and
unconditional, to receive payment of the Repurchase Price and Installment Payments (subject to Section 3.07) on such Note on the respective Stated Maturities expressed in such Note and to institute suit for the enforcement
of any such payment, and such rights shall not be impaired without the consent of such Holder. 
 Section 5.09 Restoration of Rights
and Remedies. 
 If the Trustee or any Holder has instituted any proceeding to enforce any right or remedy under this
Indenture and such proceeding has been discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to such Holder, then and in every such case, subject to any determination in such proceeding, the Company, the
Trustee and the Holders shall be restored severally and respectively to their former positions hereunder and thereafter all rights and remedies of the Trustee and the Holders shall continue as though no such proceeding had been instituted. 

Section 5.10 Rights and Remedies Cumulative. 

Except as otherwise provided with respect to the replacement or payment of mutilated, destroyed, lost or stolen Notes in the
last paragraph of Section 3.06, no right or remedy herein conferred upon or reserved to the Trustee or to the Holders is intended to be exclusive of any other right or remedy, and every right and remedy shall, to the extent
permitted by law, be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, shall not
prevent the concurrent assertion or employment of any other appropriate right or remedy. 
 Section 5.11 Delay or Omission Not
Waiver. 
 No delay or omission of the Trustee or of any Holder of any Notes to exercise any right or remedy accruing
upon any Event of Default shall impair any such right or remedy or constitute a waiver of any such Event of Default or an acquiescence therein. Every right and remedy given by this Article or by law to the Trustee or to the Holders may be exercised
from time to time, and as often as may be deemed expedient, by the Trustee or by the Holders, as the case may be. 
 Section 5.12
Control by Holders. 
 The Holders of a majority in principal amount of the Outstanding Notes shall have the right to
direct the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred on the Trustee, with respect to the Notes, provided that 

  
 14 

 (1) such direction shall not be in conflict with any rule of law or with
this Indenture, 
 (2) the Trustee may take any other action deemed proper by the Trustee which is not inconsistent with such
direction, and 
 (3) subject to the provisions of Section 6.01, the Trustee shall have the right
to decline to follow any such direction if the Trustee in good faith shall, by a Responsible Officer or Officers of the Trustee, determine that the proceedings so directed would involve the Trustee in personal liability. 

Section 5.13 Waiver of Past Defaults. 

The Holders of not less than a majority in principal amount of the Outstanding Notes may on behalf of the Holders of all the
Notes waive any past default hereunder with respect to such Notes and its consequences, except a default 
 (1) in the
payment of the Repurchase Price or any Installment Payment on any Note, or 
 (2) in respect of a covenant or provision
hereof which under Article IX cannot be modified or amended without the consent of the Holder of each Outstanding Note affected. 

Upon any such waiver, such default shall cease to exist, and any Event of Default arising therefrom shall be deemed to have
been cured, for every purpose of this Indenture; but no such waiver shall extend to any subsequent or other default or impair any right consequent thereon. 

Section 5.14 Undertaking for Costs. 

In any suit for the enforcement of any right or remedy under this Indenture, or in any suit against the Trustee for any action
taken, suffered or omitted by it as Trustee, a court may require any party litigant in such suit to file an undertaking to pay the costs of such suit, and may assess costs against any such party litigant, in the manner and to the extent provided in
the Trust Indenture Act; provided that neither this Section nor the Trust Indenture Act shall apply to any suit instituted by the Trustee, to any suit instituted by any Holders of the Notes, or group of Holders of the Notes, holding in the aggregate
more than 10% of principal amount of the Outstanding Notes, or to any suit instituted by any Holder of the Outstanding Notes for the enforcement of the payment of the Installment Payments on any Outstanding Notes held by such Holder, on or after the
respective due dates expressed in such Outstanding Notes, and provided, further, that neither this Section nor the Trust Indenture Act shall be deemed to authorize any court to require such an undertaking or to make such an assessment in any suit
instituted by the Company. 
 Section 5.15 Waiver of Usury, Stay or Extension Laws. 

The Company covenants (to the extent that it may lawfully do so) that it will not at any time insist upon, or plead, or in any
manner whatsoever claim or take the benefit or advantage of, any usury, stay or extension law wherever enacted, now or at any time hereafter in force, which may affect the covenants or the performance of this Indenture; and the Company (to the
extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law and covenants that it will not hinder, delay or impede the execution of any power herein granted to the Trustee, but will suffer and permit the
execution of every such power as though no such law had been enacted. 

  
 15 

 Section 5.16 Sole Remedy for a Failure to Report. 

Notwithstanding anything to the contrary in this Indenture or the Notes, the Company may elect that the sole remedy for any
Event of Default (a “Reporting Event of Default”) pursuant to Section 5.01(4) arising from the Company’s failure to comply with Section 10.06 will, for each of the first 180 days on which a
Reporting Event of Default has occurred and is continuing, consist exclusively of the right to receive Special Interest. If the Company has made such an election, then (i) the Notes will be subject to acceleration pursuant to
Section 5.02 on account of the relevant Reporting Event of Default from, and including, the 181st day on which a Reporting Event of Default has occurred and is continuing or if the Company fails to pay any accrued and
unpaid Special Interest when due; and (ii) Special Interest will cease to accrue on any Notes from, and including, such 181st day. 

Any Special Interest that accrues on a Note will be payable on the same dates and in the same manner as Installment Payments on
such Note and will accrue at a rate per annum equal to 0.25% of the principal amount thereof for the first 90 days on which Special Interest accrues and, thereafter, at a rate per annum equal to 0.50% of the principal amount thereof. 

To make the election set forth in this Section 5.16, the Company must send to the Holders, the Trustee and the Paying
Agent, before the date on which each Reporting Event of Default first occurs, a notice that (i) briefly describes the report(s) that the Company failed to file with the Commission; (ii) states that the Company is electing that the sole
remedy for such Reporting Event of Default consist of the accrual of Special Interest; and (iii) briefly describes the periods during which and rate at which Special Interest will accrue and the circumstances under which the Notes will be
subject to acceleration on account of such Reporting Event of Default. 
 If Special Interest accrues on any Note, then, no
later than five Business Days before each date on which such Special Interest is to be paid, the Company will deliver an Officer’s Certificate to the Trustee and the Paying Agent stating (i) that the Company is obligated to pay Special
Interest on such Note on such date of payment; and (ii) the amount of such Special Interest that is payable on such date of payment. The Trustee will have no duty to determine whether any Special Interest is payable or the amount thereof. 

No election pursuant to this Section 5.16 with respect to a Reporting Event of Default will affect the rights of any
Holder with respect to any other Event of Default, including with respect to any other Reporting Event of Default. 
 ARTICLE 5 

THE TRUSTEE 

Section 5.01. Amendments to Article VI of the Base Indenture. 

(a) For purposes of the Notes, Section 6.05 of the Base Indenture shall be amended and restated in its entirety with the
following: 
 “If an Event of Default with respect to Notes occurs and is continuing and if it is known to the Trustee,
the Trustee shall mail to each Holder of Notes notice of the uncured Event of Default within 90 days after such Event of Default occurs. Except in the case of an Event of Default in payment of Repurchase Price or any Installment Payment on any Note,
the Trustee may withhold the notice if and so long as a Responsible Officer in good faith determines that withholding the notice is in the interest of the Holders of Notes.” 

  
 16 

 (b) For purposes of the Notes, the second and third paragraphs of Section 6.07 of the
Base Indenture shall be amended and restated in its entirety with the following: 
 “The Company shall indemnify each of
the Trustee (in its capacity as Trustee) and any predecessor Trustee and each of their respective officers, directors, attorneys-in-fact and agents for, and hold it
harmless against, any claim, demand, expense (including but not limited to reasonable compensation, disbursements and expenses of the Trustee’s agents and counsel), loss, charges (including taxes (other than taxes based upon the income of the
Trustee)) or liability incurred by them without negligence or bad faith on its part, arising out of or in connection with the execution and performance of the Purchase Contract Agreement and the acceptance or administration of this trust and their
rights or duties hereunder including the reasonable costs and expenses of defending themselves against any claim or liability in connection with the exercise or performance of any of its powers or duties hereunder. The Trustee shall notify the
Company promptly of any claim asserted against the Trustee for which it may seek indemnity. At the request of the Trustee, the Company shall defend the claim and the Trustee shall provide reasonable cooperation at the Company’s expense in the
defense. The Trustee may have separate counsel and the Company shall pay the reasonable fees and expenses of such counsel. The Company need not pay for any settlement made without its written consent which consent shall not be unreasonably withheld.
The Company need not reimburse any expense or indemnify against any loss or liability to the extent incurred by the Trustee as determined by a final, non-appealable, judgment of a court of competent
jurisdiction to have been caused by its own negligence, bad faith or willful misconduct. 
 To secure the Company’s
payment obligations in this Section 6.07, the Trustee shall have a lien prior to the Notes on all assets held or collected by the Trustee, in its capacity as Trustee, except assets held in trust to pay Repurchase Price or
Installment Payments on particular Notes.” 
 ARTICLE 6 

SUCCESSOR CORPORATION 

Section 6.01. Amendments to Article VIII of the Base Indenture. 

(a) For purposes of the Notes, Article VIII of the Base Indenture shall be amended and restated in its entirety to the following: 

“Section 8.01 When Company May Merge, Etc. The Company shall not consolidate or merge with or into any other entity, or sell,
transfer, lease or otherwise convey its properties and assets as an entirety or substantially as an entirety to any entity, unless: 

(1) (i) the Company is the continuing entity (in the case of a merger) or (ii) if the Company is not the continuing
entity, the successor entity formed by such consolidation or into which it is merged or which acquires by sale, transfer, lease or other conveyance of its properties and assets, as an entirety or substantially as an entirety (any such other entity
being referred to herein as the “Surviving Person”), is a corporation organized and existing under the laws of the United States of America or any State thereof, the District of Columbia or any territory thereof, and expressly
assumes, by supplemental indenture, the due and punctual payment of the Installment Payments on the Notes and the performance of all of the covenants under this Indenture; 

  
 17 

 (2) immediately after giving effect to the transaction, no Event of Default,
and no event which after notice or lapse of time or both would become an Event of Default under this Indenture, has or will have occurred and be continuing; and 

(3) if a supplemental indenture is required in connection with such transaction, the Company has delivered to the Trustee an
Officer’s Certificate and an Opinion of Counsel, each stating that such consolidation, merger, assignment, or transfer and such supplemental indenture comply with this Article VIII and that all conditions precedent herein provided
relating to such transaction have been satisfied. 
 Section 8.02 Successor Corporation Substituted. Upon any consolidation or
merger, or any transfer of assets in accordance with Section 8.01, the Surviving Person formed by such consolidation or into which the Company is merged or to which such transfer is made shall succeed to, and be substituted
for, and may exercise every right and power of, the Company under this Indenture with the same effect as if such Surviving Person had been named as the Company herein and, except in the case of a lease, the predecessor shall be relieved of the
performance and observance of all obligations and covenants of this Indenture and the Notes, including but not limited to the obligation to make payment of the Installment Payments on all the Notes then outstanding, and the Company may thereupon or
any time thereafter be liquidated and dissolved.” 
 ARTICLE 7 

AMENDMENTS, SUPPLEMENTS AND WAIVERS 

Section 7.01. Amendments to Article IX of the Base Indenture. 

(a) For purposes of the Notes, Section 9.01 and 9.02 of the Base Indenture shall be amended and restated in its entirety with the
following: 
 “Section 9.01 Supplemental Indentures Without Consent of Holders. Notwithstanding anything to
the contrary in Section 9.02, without notice to or the consent of any Holder, the Company, when authorized by a Board Resolution, and the Trustee, at any time and from time to time, may enter into one or more indentures supplemental hereto, in
form satisfactory to the Trustee, for any of the following purposes: 
 (1) to cure any ambiguity, omission, defect or
inconsistency in this Indenture; or 
 (2) to provide for the assumption by a successor corporation as set forth in
Article VIII; or 
 (3) to comply with any requirements of the Commission in connection with the qualification of this
Indenture under the Trust Indenture Act; or 
 (4) to evidence and provide for the acceptance of appointment with respect to
the Notes by a successor Trustee in accordance with this Indenture, and add or change any of the provisions of this Indenture as shall be necessary to provide for or facilitate the administration of the trusts under this Indenture by more than one
Trustee; or 

  
 18 

 (5) to secure the Notes; or 

(6) to add guarantees with respect to the Notes; or 

(7) to add covenants or Events of Default for the benefit of the Holders or surrender any right or power conferred upon the
Company; or 
 (8) to make any change that does not adversely affect the rights of any Holder in any material respect; or

 (9) to conform the provisions of this Indenture or the Notes to any provision of the “Description of the Amortizing
Notes” section in the Prospectus. 
 Section 9.02 Supplemental Indentures With Consent of Holders. Without
prior notice to any Holder, the Company, when authorized by a Board Resolution, and the Trustee, at any time and from time to time, may modify and amend this Indenture or the Notes with the consent of the Holders of at least a majority in principal
amount of the Outstanding Notes, and the Holders of a majority in principal amount of the Outstanding Notes by notice to the Trustee may waive future compliance by the Company with any provision of this Indenture or the Notes. However, without the
consent of each Holder of each Outstanding Note affected thereby, an amendment or waiver may not: 
 (1) change any
Installment Payment Date or reduce the amount owed on any Installment Payment Date, or 
 (2) reduce the Repurchase Price or
amend or modify in any manner adverse to the Holders of the Notes the obligation of the Company to make such payment, or 

(3) reduce the percentage in principal amount of the Outstanding Notes, the consent of whose Holders is required for any such
supplemental indenture, or the consent of whose Holders is required for any waiver provided for in this Indenture, or 
 (4)
impair the right of any Holder to receive the Repurchase Price on or after the due dates therefor or the right to institute suit for the enforcement of any such payment on or after the due dates therefor, or 

(5) modify any of the provisions of this Section or Section 5.13 or
Section 10.05, except to increase any such percentage or to provide that certain other provisions of this Indenture cannot be modified or waived without the consent of the Holder of each Outstanding Note affected thereby.

 It shall not be necessary for any Act of Holders under this Section to approve the particular form of any proposed
supplemental indenture, but it shall be sufficient if such Act shall approve the substance thereof.” 

  
 19 

 ARTICLE 8 

COVENANTS 

Section 8.01. Amendments to Article X of the Base Indenture. 

(a) For purposes of the Notes, Section 10.01 of the Base Indenture shall be amended and restated in its entirety with the following: 

“The Company covenants and agrees for the benefit of the Notes that it will duly and punctually pay the Repurchase Price
and Installment Payments on the Notes in accordance with the terms of the Notes and this Indenture.” 
 (b) For purposes of the Notes,
Section 10.03 of the Base Indenture shall be amended and restated in its entirety with the following: 
 “If the
Company shall at any time act as its own Paying Agent with respect to the Notes, it will, on or before each due date of the Repurchase Price and Installment Payments on the Notes, segregate and hold in trust for the benefit of the Persons entitled
thereto a sum sufficient to pay the Repurchase Price and Installment Payments so becoming due until such sums shall be paid to such Persons or otherwise disposed of as herein provided and will promptly notify the Trustee of its action or failure so
to act. 
 Whenever the Company shall have one or more Paying Agents for the Notes, it will, on or prior to each due date of
the Repurchase Price and Installment Payments on the Notes, deposit with a Paying Agent a sum sufficient to pay such amount, such sum to be held as provided by the Trust Indenture Act, and (unless such Paying Agent is the Trustee) the Company will
promptly notify the Trustee of its action or failure so to act. 
 The Company will cause each Paying Agent for the Notes
other than the Trustee to execute and deliver to the Trustee an instrument in which such Paying Agent shall agree with the Trustee, subject to the provisions of this Section, that such Paying Agent will (1) comply with the provisions of the
Trust Indenture Act applicable to it as a Paying Agent and (2) during the continuance of any default by the Company (or any other obligor upon the Notes) in the making of any payment in respect of the Notes, upon the written request of the
Trustee, forthwith pay to the Trustee all sums held in trust by such Paying Agent for payment in respect of the Notes. 
 The
Company may at any time, for the purpose of obtaining the satisfaction and discharge of this Indenture or for any other purpose, pay, or by Company Order direct any Paying Agent to pay, to the Trustee all sums held in trust hereunder by the Company
or such Paying Agent, such sums to be held by the Trustee upon the same trusts as those upon which such sums were held by the Company or such Paying Agent. Upon such payment by any Paying Agent to the Trustee, such Paying Agent shall be released
from all further liability with respect to such money. 
 Any money deposited with the Trustee or any Paying Agent, or then
held by the Company, in trust for the payment of the Repurchase Price and Installment Payments on any Note and remaining unclaimed for two years after such Repurchase Price and Installment Payment has become due and payable shall be paid to the
Company on Company Request, or (if then held by the Company) shall be discharged from such trust; and the Holder of such Note shall thereafter, as an unsecured general creditor, look only to the Company for payment thereof, and all liability

  
 20 

 
of the Trustee or such Paying Agent with respect to such trust money, and all liability of the Company as trustee thereof, shall thereupon cease; provided, however, that the Trustee or such
Paying Agent, before being required to make any such repayment, may at the expense of the Company cause to be published once, in a newspaper published in the English language, customarily published on each Business Day and of general circulation in
the Borough of Manhattan, The City of New York, New York, notice that such money remains unclaimed and that, after a date specified therein, which shall not be less than 30 days from the date of such publication, any unclaimed balance of such money
then remaining will be repaid to the Company.” 
 (c) For purposes of the Notes, Section 10.06 of the Base Indenture shall be
amended and restated in its entirety with the following: 
 “The Company will send to the Trustee copies of all reports
that it is required to file with the Commission pursuant to Section 13(a) or 15(d) of the Exchange Act within 15 calendar days after the date it is required to so file the same (after giving effect to any grace period provided by Rule 12b-25 under the Exchange Act). For purposes of this Section, documents filed by the Company with the Commission via EDGAR system will be deemed to be filed with the Trustee as of the time such documents are filed
via EDGAR, provided, however, that the Trustee shall have no obligation whatsoever to determine if such filing has occurred. 

Delivery of such reports, information and documents to the Trustee is for informational purposes only and the Trustee’s
receipt of such reports, information or documents shall not constitute constructive notice of any information contained therein or determinable from information contained therein, including the Company’s compliance with any of its covenants
under the Indenture (as to which the Trustee is entitled to conclusively rely exclusively on an Officer’s Certificate).” 
 ARTICLE
9 
 NO REDEMPTION 

Section 9.01. Article XI of the Base Indenture Inapplicable. The Notes shall not be redeemable at the option of the Company
and Article XI of the Base Indenture shall not apply to the Notes. 
 ARTICLE 10 

DEFEASANCE AND COVENANT DEFEASANCE 

Section 10.01. Amendments to Article XIV of the Base Indenture. For purposes of the Notes, Article XIV of the Base Indenture shall
be amended and restated in its entirety with the following: 
 “Section 14.01 Company’s Option to Effect
Defeasance or Covenant Defeasance. 
 The Company may elect, at its option by Board Resolution at any time, to have
either Section 14.02 or Section 14.03 applied to the Outstanding Notes, upon compliance with the conditions set forth below in this Article XIV. 

  
 21 

 Section 14.02 Defeasance and Discharge. 

Upon the Company’s exercise of the option provided in Section 14.01 to have this
Section 14.02 applied to the Outstanding Notes, the Company shall be deemed to have been discharged from its obligations with respect to the Outstanding Notes as provided in this Section on and after the date the conditions
set forth in Section 14.04 are satisfied (hereinafter called “Defeasance”). For this purpose, such Defeasance means that the Company shall be deemed to have paid and discharged the entire indebtedness
represented by the Outstanding Notes and to have satisfied all its other obligations under the Notes and this Indenture insofar as the Notes are concerned (and the Trustee, at the expense of the Company, shall execute proper instruments
acknowledging the same), subject to the following which shall survive until otherwise terminated or discharged hereunder: (1) the rights of Holders of Notes to receive, solely from the trust fund described in
Section 14.04 and as more fully set forth in such Section, payments in respect of the principal and interest on such Notes when payments are due, (2) the Company’s obligations with respect to the Notes under
Sections 3.04, 3.05, 3.06, 10.02 and 10.03, (3) the rights, protections, powers, trusts, duties and immunities of the Trustee hereunder and (4) this Article XIV. Subject to compliance with this
Article XIV, the Company may exercise its option provided in Section 14.01 to have this Section 14.02 applied to the Outstanding Notes notwithstanding the prior exercise of its option
provided in Section 14.01 to have Section 14.03 applied to the Outstanding Notes. Following a Defeasance, payment of such Notes may not be accelerated because of an Event of Default. 

Section 14.03 Covenant Defeasance. 

Upon the Company’s exercise of the option provided in Section 14.01 to have this
Section 14.03 applied to the Outstanding Notes, (1) the Company shall be released from its obligations under any covenants provided pursuant to Section 3.01(16) or
Section 9.01(2) with respect to the Notes and Section 8.01, as applicable, and (2) the occurrence of any event specified in Section 5.01(4) (with respect to
Section 8.01, any such covenants provided pursuant to Section 3.01(16) or Section 9.01(2)), shall be deemed not to be or result in an Event of Default, in each case with
respect to the Outstanding Notes as provided in this Section on and after the date the conditions set forth in Section 14.04 are satisfied (hereinafter called “Covenant Defeasance”). For this purpose, such
Covenant Defeasance means that the Company may omit to comply with and shall have no liability in respect of any term, condition or limitation set forth in any covenants added for the benefit of the Notes pursuant to any such specified Section (to
the extent so specified in the case of Section 5.01(4)), whether directly or indirectly by reason of any reference elsewhere herein to any such Section or by reason of any reference in any such Section to any other
provision herein or in any other document, but the remainder of this Indenture and the Notes shall be unaffected thereby. 

Section 14.04 Conditions to Defeasance or Covenant Defeasance. 

The following shall be the conditions to application of either Section 14.02 or
Section 14.03 to the Outstanding Notes: 
 (1) The Company shall irrevocably have deposited or
caused to be deposited with the Trustee as trust funds in trust for the purpose of making the following payments, specifically pledged as security for, and dedicated solely to, the benefit of the Holders of Outstanding Notes, U.S. Dollars in an
amount sufficient, in the opinion of a nationally recognized firm of independent public accountants expressed in a written certification thereof delivered to the Trustee, to pay and discharge, and which shall be applied by the Trustee (or any such
other qualifying trustee) to pay and discharge, the principal of and interest on the Notes on the respective Stated Maturities, in accordance with the terms of this Indenture and the Notes. 

  
 22 

 (2) In the case of an election under
Section 14.02, the Company shall have delivered to the Trustee an Opinion of Counsel stating that (A) the Company has received from, or there has been published by, the Internal Revenue Service a ruling or
(B) since the date first set forth hereinabove, there has been a change in the applicable Federal income tax law, in either case (A) or (B) to the effect that, and based thereon such opinion shall confirm that, the beneficial owners of the
Outstanding Notes will not recognize gain or loss for Federal income tax purposes as a result of the deposit, Defeasance and discharge to be effected with respect to the Notes and will be subject to Federal income tax on the same amount, in the same
manner and at the same times as would be the case if such deposit, Defeasance and discharge were not to occur. 
 (3) In the
case of an election under Section 14.03, the Company shall have delivered to the Trustee an Opinion of Counsel to the effect that the beneficial owners of the Outstanding Notes will not recognize gain or loss for Federal
income tax purposes as a result of the deposit and Covenant Defeasance to be effected with respect to the Notes and will be subject to Federal income tax on the same amount, in the same manner and at the same times as would be the case if such
deposit and Covenant Defeasance were not to occur. 
 (4) No Event of Default or event that (after notice or lapse of time or
both) would become an Event of Default shall have occurred and be continuing at the time of such deposit. 
 (5) Such
Defeasance or Covenant Defeasance shall not cause the Trustee to have a conflicting interest within the meaning of the Trust Indenture Act (assuming all Notes are in default within the meaning of such Act). 

(6) Such Defeasance or Covenant Defeasance shall not result in a breach or violation of, or constitute a default under, any
other material agreement or instrument to which the Company is a party or by which it is bound. 
 (7) The Company shall have
delivered to the Trustee an Officer’s Certificate and an Opinion of Counsel, each stating that all conditions precedent with respect to such Defeasance or Covenant Defeasance have been complied with. 

Section 14.05 Deposited Money to be Held in Trust; Other Miscellaneous Provisions. 

Subject to Section 10.03, all money (including the proceeds thereof) deposited with the Trustee or
other qualifying trustee (solely for purposes of this Section and Section 14.06, the Trustee and any such other trustee are referred to collectively as the “Trustee”) pursuant to
Section 14.04 in respect of the Notes shall be held in trust and applied by the Trustee, in accordance with the provisions of the Notes and this Indenture, to the payment, either directly or through any such Paying Agent
(including the Company acting as its own Paying Agent) as the Trustee may determine, to the Holders of Notes, of all sums due and to become due thereon in respect of principal or interest, but money so held in trust need not be segregated from other
funds except to the extent required by law. 
 Anything in this Article XIV to the contrary notwithstanding, the
Trustee shall deliver or pay to the Company from time to time upon Company Request any money held by it as provided in Section 14.04 with respect to Notes that, in the opinion of a nationally recognized firm of independent
public accountants expressed in a written certification thereof delivered to the Trustee, are in excess of the amount thereof that would then be required to be deposited to effect an equivalent Defeasance or Covenant Defeasance with respect to the
Notes. 

  
 23 

 Section 14.06 Reinstatement. 

If the Trustee or the Paying Agent is unable to apply any money in accordance with this Article XIV with respect to the
Notes by reason of any order or judgment of any court or governmental authority enjoining, restraining or otherwise prohibiting such application, then the Company’s obligations under this Indenture and the Notes shall be revived and reinstated
as though no deposit had occurred pursuant to this Article XIV with respect to Notes until such time as the Trustee or Paying Agent is permitted to apply all money held in trust pursuant to Section 14.05 with respect
to Notes in accordance with this Article XIV; provided, however, that if the Company makes any payment of principal or interest on any Note following the reinstatement of its obligations, the Company shall be subrogated to
the rights of the Holders of Notes to receive such payment from the money so held in trust.” 
 ARTICLE 11 

REPURCHASE OF NOTES AT THE OPTION OF THE HOLDER 

Section 11.01. Offer to Repurchase. If the Company elects to exercise its Early Mandatory Settlement Right with
respect to the Purchase Contracts pursuant to the terms of the Purchase Contract Agreement, then each Holder of Notes (whether any such Note is a Separate Note or constitutes part of a Unit) shall have the right (the “Repurchase
Right”) to require the Company to repurchase some or all of its Notes for cash at the Repurchase Price per Note to be repurchased on the Repurchase Date, pursuant to Section 11.03. The Company shall not be required to repurchase a
portion of a Note. Holders shall not have the right to require the Company to repurchase any or all of such Holders’ Notes in connection with any Early Settlement (as such term is defined in the Purchase Contract Agreement) of such
Holders’ Purchase Contracts at the Holders’ option pursuant to the terms of the Purchase Contract Agreement. 

Section 11.02. Early Mandatory Settlement Notice. If the Company elects to exercise its Early Mandatory Settlement Right
with respect to the Purchase Contracts pursuant to the terms of the Purchase Contract Agreement, the Company shall provide the Trustee and the Holders of the Notes with a copy of the Early Mandatory Settlement Notice delivered pursuant to the
Purchase Contract Agreement. 
 Section 11.03. Procedures for Exercise. 

(a) To exercise the Repurchase Right, a Holder must deliver, on or prior to the close of business on the Business Day immediately preceding the
Repurchase Date, the Notes to be repurchased (or the Units that include the Notes to be repurchased, if (x) the Early Mandatory Settlement Date occurs on or after the Repurchase Date and (y) the relevant Notes have not been separated from
the Units), together with a duly completed written Repurchase Notice, in each case, subject to and in accordance with applicable procedures of the Depositary, unless the Notes are not in the form of a Global Note (or the Units are not in the form of
Global Units, as the case may be), in which case such Holder must deliver the Notes to be repurchased (or the Units that include the Notes to be repurchased, if (i) the Early Mandatory Settlement Date occurs on or after the Repurchase Date and
(ii) the Notes have not been separated from the Units), duly endorsed for transfer to the Company, together, in either case, with a Repurchase Notice, to the Paying Agent. 

  
 24 

 (b) The Repurchase Notice must state the following: 

(i) if Certificated Notes (or Units) have been issued, the certificate numbers of the Notes (or Units), or if the Notes (or
Units) are in the form of a Global Note (or a Global Unit), the Repurchase Notice must comply with appropriate procedures of the Depositary; 

(ii) the number of Notes to be repurchased; and 

(iii) that the Notes are to be repurchased by the Company pursuant to the applicable provisions of the Notes and this Article
11. 
 (c) In the event that the Company exercises its Early Mandatory Settlement Right with respect to Purchase Contracts that are a
component of Units and the Early Mandatory Settlement Date occurs prior to the Repurchase Date, upon such Early Mandatory Settlement Date, the Company shall execute and the Trustee shall authenticate on behalf of the holder of the Units and deliver
to such holder, at the expense of the Company, Separate Notes in the same form and in the same number as the Notes comprising part of the Units. 

Section 11.04. Withdrawal of Repurchase Notice. 

(a) A Holder may, subject to and in accordance with applicable procedures of the Depositary, in the case of a Global Note or Global Unit,
withdraw any Repurchase Notice (in whole or in part) by a written, irrevocable notice of withdrawal delivered to the Paying Agent, with a copy to the Trustee and the Company, on or prior to the close of business on the Business Day immediately
preceding the Repurchase Date. 
 (b) The notice of withdrawal must state the following: 

(i) if Certificated Notes (or Units) have been issued, the certificate numbers of the withdrawn Notes (or Units), or if the
Notes (or Units) are in the form of a Global Note (or a Global Unit), the notice of withdrawal must comply with appropriate Depositary procedures; 

(ii) the number of the withdrawn Notes; and 

(iii) the number of Notes, if any, that remain subject to the Repurchase Notice. 

Section 11.05. Effect of Repurchase. (a) The Company shall be required to repurchase the Notes with respect to which
the Repurchase Right has been validly exercised and not withdrawn on the Repurchase Date. To effectuate such repurchase, the Company shall deposit immediately available funds with the Paying Agent, on or prior to 11:00 a.m., New York City time, on
the Repurchase Date, in an amount or amounts sufficient to pay the Repurchase Price with respect to those Notes for which the Repurchase Right has been exercised. A Holder electing to exercise the Repurchase Right shall receive payment of the
Repurchase Price on the later of (i) the Repurchase Date and (ii) the time of book-entry transfer or the delivery of the Notes (or Units, as applicable). 

(b) If the Paying Agent holds money on the Repurchase Date sufficient to pay the Repurchase Price with respect to those Notes for which the
Repurchase Right has been exercised, then (i) such Notes shall cease to be outstanding and interest shall cease to accrue thereon (whether or not book-entry transfer of the Notes or Units, as applicable, is made or whether or not the Notes or
Units, as applicable, are delivered as required herein), and (ii) all other rights of the Holder shall terminate (other than the right to receive the Repurchase Price and, if the Repurchase Date falls between a Regular Record Date and the
corresponding Installment Payment Date, the related Installment Payment). 

  
 25 

 (c) In connection with any repurchase offer pursuant to this Article 11, the Company shall,
if required, comply with the provisions of the tender offer rules under the Exchange Act that may then be applicable. 
 (d) Notwithstanding
anything to the contrary herein, no Notes may be repurchased at the option of Holders if the principal amount thereof has been accelerated, and such acceleration has not been rescinded, on or prior to the Repurchase Date (except in the case of an
acceleration resulting from a default by the Company of the payment of the Repurchase Price with respect to such Notes). 

Section 11.06. No Sinking Fund. The Notes are not entitled to the benefit of any sinking fund. 

ARTICLE 12 
 TAX TREATMENT 

Section 12.01. Tax Treatment. The Company and each Holder of Notes and beneficial owner of Notes agree, for United States
federal income tax purposes, to treat the Notes as indebtedness of the Company. 
 ARTICLE 13 

MISCELLANEOUS 

Section 13.01. Conflict with Trust Indenture Act. If any provision hereof limits, qualifies or conflicts with a provision of the
Trust Indenture Act that is required under such Act to be a part of and govern this Supplemental Indenture, the latter provision shall control. If any provision of this Supplemental Indenture modifies or excludes any provision of the Trust Indenture
Act that may be so modified or excluded, the latter provision shall be deemed to apply to this Supplemental Indenture as so modified or to be excluded, as the case may be. Wherever this Supplemental Indenture refers to a provision of the Trust
Indenture Act, such provision is incorporated by reference in and made a part of this Supplemental Indenture. 
 Section 13.02.
Effect of Headings and Table of Contents. The Article and Section headings herein and the Table of Contents are for convenience only and shall not affect the construction hereof. 

Section 13.03. Successors and Assigns. All covenants and agreements in this Supplemental Indenture by the Company shall
bind its successors and assigns, whether so expressed or not. 
 Section 13.04. Separability. In case any provision in
this Supplemental Indenture or in the Notes shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

Section 13.05. Benefits of Supplemental Indenture. Nothing in this Supplemental Indenture or in the Notes, express or
implied, shall give to any Persons, other than the parties hereto and their successors hereunder and the Holders, any benefit or any legal or equitable right, remedy or claim under this Supplemental Indenture. 

  
 26 

 Section 13.06. Governing Law and Jury Trial Waiver. THIS SUPPLEMENTAL
INDENTURE AND THE NOTES AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER OR RELATED THERETO SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. EACH OF THE COMPANY AND THE TRUSTEE, HEREBY IRREVOCABLY WAIVES,
TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS SUPPLEMENTAL INDENTURE OR THE SECURITIES. SUCH WAIVER OF A JURY TRIAL DOES NOT SERVE AS A
WAIVER BY ANY PARTIES OF ANY RIGHTS FOR CLAIMS MADE UNDER THE U.S. FEDERAL SECURITIES LAWS. NO HOLDER OF NOTES MAY WAIVE THE COMPANY’S COMPLIANCE WITH THE U.S. FEDERAL SECURITIES LAWS AND THE RULES AND REGULATIONS PROMULGATED THEREUNDER. 

Section 13.07. Electronic Signatures. 

The words “execution,” signed,” “signature,” and words of like import in this Supplemental Indenture or in any
certificate, agreement or document related to this Supplemental Indenture shall include electronic signatures (including, without limitation, DocuSign and Adobe Sign). The use of electronic signatures and electronic records (including, without
limitation, any contract or other record created, generated, sent, communicated, received, or stored by electronic means) shall be of the same legal effect, validity and enforceability as a manually executed signature or use of a paper-based
record-keeping system to the fullest extent permitted by applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act and any other applicable law,
including, without limitation, any state law based on the Uniform Electronic Transactions Act or the Uniform Commercial Code. 

Section 13.08. Ratification of Indenture. The Indenture, as supplemented by this Supplemental Indenture, is in all respects
ratified and confirmed, and this Supplemental Indenture shall be deemed part of the Indenture in the manner and to the extent herein and therein provided. The provisions of this Supplemental Indenture shall, subject to the terms hereof, supersede
the provisions of the Base Indenture to the extent the Base Indenture is inconsistent herewith. 
 This instrument may be executed in any
number of counterparts, each of which so executed shall be deemed to be an original, but all such counterparts shall together constitute but one and the same instrument. 

[Remainder of the page intentionally left blank] 

  
 27 

 SIGNATURES 

IN WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to be duly executed, all as of the date first above written.

  

			
	 BRIGHTSPRING HEALTH SERVICES, INC., as

the Company

		
	By:	 	              

		 	Name:
		 	Title:

  

			
	 U.S. BANK N.A., as

Trustee

		
	By:	 	              

		 	Name:
		 	Title:

 EXHIBIT A 

[FORM OF FACE OF NOTE] 
 [THIS NOTE IS A GLOBAL
NOTE WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR NOTES IN CERTIFICATED FORM, THIS NOTE MAY NOT BE
TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITORY TRUST COMPANY (THE “DEPOSITARY”) TO A NOMINEE OF THE DEPOSITARY OR BY THE DEPOSITARY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITARY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITARY. 

UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT,
AND ANY NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN
AUTHORIZED REPRESENTATIVE OF THE DEPOSITARY), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]* 

 

	* 	 Include only if a Global Note. 

  
 A-1 

 BRIGHTSPRING HEALTH SERVICES, INC. 

[•]% SENIOR AMORTIZING NOTES DUE 2025 
 CUSIP
No.: [•] 
 ISIN No.: [•] 
 No. [ ] [Initial]* Number of Notes: [ ] 
 BRIGHTSPRING HEALTH SERVICES, INC., a Delaware corporation (the
“Company”, which term includes any successor under the Indenture hereinafter referred to), for value received, hereby promises to pay to [CEDE & Co., as nominee of The Depositary Trust Company]* [ ] **, or registered assigns (the “Holder”), the initial principal amount of $[•] for each of the number of Notes set forth
above[, which number of Notes may from time to time be reduced or increased as set forth in Schedule A hereto, as appropriate, in accordance with the terms of the Indenture]*, in equal quarterly
installments (except for the first such payment) (each such payment, an “Installment Payment”), constituting a payment of interest (at a rate of [•]% per annum) and a partial repayment of principal, payable on each [•],
[•],[•] and [•], commencing on [•], 2022 (each such date, an “Installment Payment Date”, and the period from, and including, [•], 2022 to, but excluding, the first Installment Payment Date and thereafter
each quarterly period from, and including, the immediately preceding Installment Payment Date to, but excluding, the relevant Installment Payment Date, an “Installment Payment Period”) with the final Installment Payment due and
payable on [•], 2025, all as set forth on the reverse hereof and in the Indenture referred to on the reverse hereof. To the extent that payment of interest shall be legally enforceable, interest shall accrue and be payable on any overdue
Installment Payments or principal at a rate of [•]% per annum. 
 Each Installment Payment for any Installment Payment Period shall be computed on the
basis of a 360-day year of twelve 30-day months. If an Installment Payment is payable for any period shorter or longer than a full Installment Payment Period, such
Installment Payment shall be computed on the basis of the actual number of days elapsed per 30-day month. Furthermore, if any date on which an Installment Payment is payable is not a Business Day, then payment
of the Installment Payment on such date shall be made on the next succeeding day that is a Business Day, and without any interest or other payment in respect of any such delay. Installment Payments shall be paid to the Person in whose name the Note
is registered, with limited exceptions as provided in the Indenture, at the close of business on [•], [•], [•] or [•] immediately preceding the relevant Installment Payment Date, as applicable (each, a “Regular Record
Date”). Installment Payments shall be payable (x) in the case of any Certificated Note, at the office or agency of the Company maintained for that purpose in the Borough of Manhattan, The City of New York; provided,
however, that payment of Installment Payments may be made at the option of the Company by check mailed to the registered Holder at such address as shall appear in the Security Register or (y) in the case of any Global Note, by wire
transfer in immediately available funds to the account of the Depositary or its nominee or otherwise in accordance with applicable procedures of the Depositary. 

This Note shall not be entitled to any benefit under the Indenture hereinafter referred to or be valid or obligatory for any purpose until the Certificate of
Authentication shall have been manually signed by or on behalf of the Trustee. 
  

 

	* 	 Include only if a Global Note. 

	** 	 Include only if not a Global Note. 

  
 A-2 

 Reference is hereby made to the further provisions of this Note set forth on the reverse hereof, which
further provisions shall for all purposes have the same effect as if set forth at this place. 
 [SIGNATURES ON THE FOLLOWING PAGE] 

  
 A-3 

 IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed. 

Dated: ___________________ 
  

			
	BRIGHTSPRING HEALTH SERVICES, INC., 
		
	By:	 	              

		 	Name:
		 	Title:

 CERTIFICATE OF AUTHENTICATION 

U.S. Bank N.A., as Trustee, certifies 
 that this is one of the
Securities of the series 
 designated herein referred to in the within 

mentioned Indenture. 
 Dated: 

 

			
	U.S. BANK N.A., as Trustee
		
	By:	 	  

		 	  Authorized Signatory

  
 A-4 

 [REVERSE OF NOTE] 

BRIGHTSPRING HEALTH SERVICES, INC. 

[•]% Senior Amortizing Notes due 2025 
 This
Note is one of a duly authorized series of Securities of the Company designated as its [•]% Senior Amortizing Notes due 2025 (herein sometimes referred to as the “Notes”), issued under the Indenture, dated as of [•], 2022,
between the Company and U.S. Bank N.A., as trustee (the “Trustee,” which term includes any successor trustee under the Indenture) (including any provisions of the Trust Indenture Act that are deemed incorporated therein) (the
“Base Indenture”), as supplemented by the First Supplemental Indenture, dated as of [•], 2022 (the “First Supplemental Indenture”), between the Company and the Trustee (the Base Indenture, as supplemented by
the First Supplemental Indenture, the “Indenture”), to which Indenture reference is hereby made for a description of the rights, limitations of rights, obligations, duties and immunities thereunder of the Trustee, the Company and
the Holders. The terms of other series of Securities issued under the Base Indenture may vary with respect to interest rates, issue dates, maturity, redemption, repayment, currency of payment and otherwise as provided in the Base Indenture. The Base
Indenture further provides that securities of a single series may be issued at various times, with different maturity dates and may bear interest at different rates. This series of Securities is limited in aggregate initial principal amount as
specified in the First Supplemental Indenture. 
 Each Installment Payment shall constitute a payment of interest (at a rate of [•]% per annum) and a
partial repayment of principal on the Notes, allocated with respect to each Note as set forth in the schedule below: 
  

									
	 Scheduled Installment Payment Date
	  	Amount of
Principal	 	 	Amount of
Interest	 
	 [•], 2022
	  	$	[	•] 	 	$	[	•] 
	 [•], 2022
	  	$	[	•] 	 	$	[	•] 
	 [•], 2022
	  	$	[	•] 	 	$	[	•] 
	 [•], 2023
	  	$	[	•] 	 	$	[	•] 
	 [•], 2023
	  	$	[	•] 	 	$	[	•] 
	 [•], 2023
	  	$	[	•] 	 	$	[	•] 
	 [•], 2023
	  	$	[	•] 	 	$	[	•] 
	 [•], 2024
	  	$	[	•] 	 	$	[	•] 
	 [•], 2024
	  	$	[	•] 	 	$	[	•] 
	 [•], 2024
	  	$	[	•] 	 	$	[	•] 
	 [•], 2024
	  	$	[	•] 	 	$	[	•] 
	 [•], 2025
	  	$	[	•] 	 	$	[	•] 

 Any Installment Payment on any Note which is payable, but is not punctually paid or duly provided for, on any Installment
Payment Date (herein called “Defaulted Installment Payment”) shall forthwith cease to be payable to the Holder on the relevant Regular Record Date by virtue of having been such Holder, and such Defaulted Installment Payment may be
paid by the Company, at its election in each case, as provided in Clause (1) or (2) below: 

  
 A-5 

 (1) The Company may elect to make payment of any Defaulted Installment Payment to the
Persons in whose names the Notes (or their respective Predecessor Notes) are registered at the close of business on a Special Record Date for the payment of such Defaulted Installment Payment, which shall be fixed in the following manner. The
Company shall notify the Trustee in writing of the amount of Defaulted Installment Payment proposed to be paid on each Note and the date of the proposed payment, and at the same time the Company shall deposit with the Trustee an amount of money
equal to the aggregate amount proposed to be paid in respect of such Defaulted Installment Payment or shall make arrangements satisfactory to the Trustee for such deposit prior to the date of the proposed payment, such money when deposited to be
held in trust for the benefit of the Persons entitled to such Defaulted Installment Payment as in this Clause provided. Thereupon the Trustee shall fix a Special Record Date for the payment of such Defaulted Installment Payment which shall be not
more than 15 days and not less than 10 days prior to the date of the proposed payment and not less than 10 days after the receipt by the Trustee of the notice of the proposed payment. The Trustee shall promptly notify the Company of such Special
Record Date and, in the name and at the expense of the Company, shall cause notice of the proposed payment of such Defaulted Installment Payment and the Special Record Date therefor to be mailed, first-class postage prepaid, to each Holder of Notes
at his address as it appears in the Security Register, not less than 10 days prior to such Special Record Date. Notice of the proposed payment of such Defaulted Installment Payment and the Special Record Date therefor having been so mailed, such
Defaulted Installment Payment shall be paid to the Persons in whose names the Notes (or their respective Predecessor Securities) are registered at the close of business on such Special Record Date and shall no longer be payable pursuant to the
following Clause (2). 
 (2) The Company may make payment of any Defaulted Installment Payment on the Notes in any other lawful manner not
inconsistent with the requirements of any securities exchange on which such Notes may be listed, and upon such notice as may be required by such exchange, if, after notice given by the Company to the Trustee of the proposed payment pursuant to this
Clause, such manner of payment shall be deemed practicable by the Trustee. 
 The Notes shall not be subject to redemption at the option of the Company.
However, a Holder shall have the right to require the Company to repurchase some or all of its Notes for cash at the Repurchase Price per Note and on the Repurchase Date, upon the occurrence of certain events and subject to the conditions set forth
in the Indenture. 
 This Note is not entitled to the benefit of any sinking fund. The Indenture contains provisions for satisfaction and discharge, legal
defeasance and covenant defeasance of this Note upon compliance by the Company with certain conditions set forth therein, which provisions apply to this Note. 

If an Event of Default with respect to the Notes shall occur and be continuing, then either the Trustee or the Holders of not less than 25% in principal
amount of the Notes then outstanding may declare the Repurchase Price and all Installment Payments on this Note, to be due and payable immediately, in the manner, subject to the conditions and with the effect provided in the Indenture. 

The Indenture permits, with certain exceptions as therein provided, the Company and the Trustee, with the consent of the Holders of not less than a majority
in principal amount of the Notes at the time outstanding, to execute supplemental indentures for certain purposes as described therein. 
 No provision of
this Note or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the Repurchase Price, if applicable, of and all Installment Payments on this Note at the time, place and rate, and in the
coin or currency, herein and in the Indenture prescribed. 

  
 A-6 

 The Notes are originally being issued as part of the [•]% Tangible Equity Units (the
“Units”) issued by the Company pursuant to that certain Purchase Contract Agreement, dated as of [•], 2022, between the Company and U.S. Bank N.A., as Purchase Contract Agent, as Trustee and as attorney-in-fact for the holders of Equity-Linked Securities (as defined in the Purchase Contract Agreement) from time to time (the “Purchase Contract Agreement”). Holders of the Units have
the right to separate such Units into their constituent parts, consisting of Separate Purchase Contracts (as defined in the Purchase Contract Agreement) and Separate Notes, during the times, and under the circumstances, described in the Purchase
Contract Agreement. Following separation of any Unit into its constituent Separate Note and Separate Purchase Contract, the Separate Notes are transferable independently from the Separate Purchase Contracts. In addition, Separate Notes can be
recombined with Separate Purchase Contracts to recreate Units, as provided for in the Purchase Contract Agreement. Reference is hereby made to the Purchase Contract Agreement for a more complete description of the terms thereof applicable to the
Units. 
 As provided in the Indenture and subject to certain limitations therein set forth, the transfer of this Note shall be registered on the Security
Register of the Company, upon due presentation of this Note for registration of transfer at the office or agency of the Company in the Borough of Manhattan, The City of New York, duly endorsed by, or accompanied by a written instrument or
instruments of transfer in form satisfactory to the Company and the Trustee duly executed by, the Holder hereof or by his attorney duly authorized in writing, and thereupon the Company shall execute and the Trustee shall authenticate and deliver in
the name of the transferee or transferees a new Note or Notes in authorized denominations and for a like aggregate principal amount. 
 The Notes are
initially issued in registered, global form without coupons in denominations equal to $[•] initial principal amount and integral multiples in excess thereof. 

The Company or Trustee may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with any
registration of transfer of this Note. No service charge shall be made for any such transfer or for any exchange of this Note as contemplated by the Indenture. 

The Company, the Trustee and any agent of the Company or the Trustee may deem and treat the Person in whose name this Note is registered upon the Security
Register for the Notes as the absolute owner of this Note (whether or not this Note shall be overdue and notwithstanding any notice of ownership or writing thereon made by anyone other than the Registrar) for the purpose of receiving payment of or
on account of the principal of and, subject to the provisions of the Indenture, interest on this Note and for all other purposes; and neither the Company nor the Trustee nor any agent of the Company or the Trustee shall be affected by any notice to
the contrary. 
 This Note and the Indenture and any claim, controversy or dispute arising under or related thereto shall be governed by and construed in
accordance with the laws of the State of New York. 
 Capitalized terms used but not defined in this Note shall have the meanings ascribed to such terms
in the Indenture. 
 No recourse shall be had for the payment of any Installment Payment on this Note, or for any claim based hereon, or upon any
obligation, covenant or agreement of the Company in the Indenture, against any incorporator, stockholder, officer or director, past, present or future of the Company or of any predecessor or successor, either directly or through the Company or any
predecessor or successor, whether by virtue of any constitution, statute or rule of law, or by the enforcement of any assessment of penalty or otherwise; and all such personal liability is expressly released and waived as a condition of, and as part
of the consideration for, the issuance of this Note. 

  
 A-7 

 The Company and each Holder of Notes and beneficial owner of Notes agrees, for United States federal income
tax purposes, to treat the Notes as indebtedness of the Company. 
 In the event of any inconsistency between the provisions of this Note and the provisions
of the Indenture, the Indenture shall prevail. 

  
 A-8 

 ASSIGNMENT 

FOR VALUE RECEIVED, the undersigned assigns and transfers this Note to: 

(Insert assignee’s social security or tax identification number) 

(Insert address and zip code of assignee) 
 and irrevocably
appoints 
 agent to transfer this Note on the books of the Company. The agent may substitute another to act for him or her. 

 

			
	Date:	  	Signature:
		
		  	Signature Guarantee:

 (Sign exactly as your name appears on the other side of this Note) 

  
 A-9 

 SIGNATURE GUARANTEE 

Signatures must be guaranteed by an “eligible guarantor institution” meeting the requirements of the Registrar, which requirements include
membership or participation in the Security Transfer Agent Medallion Program (“STAMP”) or such other “signature guarantee program” as may be determined by the Registrar in addition to, or in substitution for, STAMP, all in
accordance with the Securities Exchange Act of 1934, as amended. 
  

			
	By:	 	
                 

		 	Name:
		 	Title:

  

			
	By:	 	
                 

		 	Name:
		 	Title:

 Attest 
  

			
	By:	 	              

		 	Name:
		 	Title:

  
 A-10 

 FORM OF REPURCHASE NOTICE 

TO: BRIGHTSPRING HEALTH SERVICES, INC. 
 U.S. BANK N.A., as
Trustee 
 The undersigned registered Holder hereby irrevocably acknowledges receipt of a notice from BrightSpring Health Services, Inc. (the
“Company”) regarding the right of Holders to elect to require the Company to repurchase the Notes and requests and instructs the Company to pay, for each Note designated below, the Repurchase Price for such Notes (determined as set
forth in the Indenture), in accordance with the terms of the Indenture and the Notes, to the registered holder hereof. Capitalized terms used herein but not defined shall have the meanings ascribed to such terms in the Indenture. The Notes shall be
repurchased by the Company as of the Repurchase Date pursuant to the terms and conditions specified in the Indenture. 
 Dated:  

 

	
	    Signature

 NOTICE: The above signature of the Holder hereof must correspond with the name as written upon the face of the Notes in
every particular without alteration or enlargement or any change whatever. 
 Notes Certificate Number (if applicable):
                                     

Number of Notes to be repurchased (if less than all, must be one Note or integral multiples in excess thereof):
                                     

Social Security or Other Taxpayer Identification Number:
                                     
    

  
 A-11 

 SCHEDULE A 

[SCHEDULE OF INCREASES OR DECREASES IN GLOBAL NOTE]* 

The initial number of Notes evidenced by this Global Note is     . The following increases or decreases in this Global Note have been
made: 
  

									
	 Date
	 	 Amount of

decrease in
 number of
Notes
 evidenced hereby
	 	 Amount of

increase in number
 of Notes
evidenced
 hereby
	  	 Number of Notes
evidenced hereby
following such

decrease (or

increase)
	  	 Signature of

authorized officer
 of
Trustee

  
  

	* 	 Include only if a Global Note. 

  
 A-12EX-10.1

 Exhibit 10.1 

Execution Version 
  

 
 AMENDED AND RESTATED 

STOCKHOLDERS’ AGREEMENT 

AMONG 
 PHOENIX PARENT HOLDINGS
INC., 
 KKR PHOENIX AGGREGATOR L.P., 

WALGREEN CO., 
 KKR AMERICAS FUND
XII L.P., SOLELY FOR CERTAIN SECTIONS AS SET FORTH HEREIN 
 WALGREENS BOOTS ALLIANCE, INC., SOLELY FOR CERTAIN SECTIONS AS SET FORTH HEREIN

 AND 
 PHARMERICA CORPORATION,
SOLELY FOR A CERTAIN SECTION AS SET FORTH HEREIN 
 March 5, 2019 
  

 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	 Article I DEFINITIONS
	  	 	1	 
			
	 Section 1.1.
	 	 Certain Defined Terms
	  	 	1	 
			
	 Section 1.2.
	 	 Construction
	  	 	8	 
		
	 Article II CORPORATE GOVERNANCE
	  	 	9	 
			
	 Section 2.1.
	 	 Board Representation
	  	 	9	 
			
	 Section 2.2.
	 	 Committees
	  	 	10	 
			
	 Section 2.3.
	 	 Meetings of the Board
	  	 	11	 
			
	 Section 2.4.
	 	 Acts of the Board and Approval Rights
	  	 	11	 
			
	 Section 2.5.
	 	 Action by Consent
	  	 	12	 
			
	 Section 2.6.
	 	 Outside Activities
	  	 	12	 
			
	 Section 2.7.
	 	 Interlocking Directorates
	  	 	12	 
		
	 Article III TRANSFERABILITY OF SHARES; PREEMPTIVE RIGHTS
	  	 	13	 
			
	 Section 3.1.
	 	 Transfers Generally
	  	 	13	 
			
	 Section 3.2.
	 	 General Restrictions on Transfer of Shares
	  	 	13	 
			
	 Section 3.3.
	 	 Exit Transactions
	  	 	14	 
			
	 Section 3.4.
	 	 Tag-Along Rights
	  	 	14	 
			
	 Section 3.5.
	 	 Drag Along Right
	  	 	16	 
			
	 Section 3.6.
	 	 Other Transfer Restrictions
	  	 	17	 
			
	 Section 3.7.
	 	 Preemptive Rights
	  	 	18	 
			
	 Section 3.8.
	 	 Appraisal Related Capital Contributions
	  	 	20	 
			
	 Section 3.9.
	 	 Specific Performance
	  	 	20	 
		
	 Article IV OTHER COVENANTS
	  	 	20	 
			
	 Section 4.1.
	 	 Further Assurances
	  	 	20	 
			
	 Section 4.2.
	 	 Information
	  	 	20	 
			
	 Section 4.3.
	 	 Non-Solicit and
Non-Compete
	  	 	22	 
			
	 Section 4.4.
	 	 Term Debt
	  	 	23	 
			
	 Section 4.5.
	 	 Additional Synergies
	  	 	24	 
			
	 Section 4.6.
	 	 Standstill
	  	 	25	 
			
	 Section 4.7.
	 	 Prime Vendor Agreement
	  	 	25	 
		
	 Article V MISCELLANEOUS
	  	 	27	 
			
	 Section 5.1.
	 	 Termination
	  	 	27	 
			
	 Section 5.2.
	 	 Indemnification
	  	 	27	 
			
	 Section 5.3.
	 	 Amendments and Waivers
	  	 	27	 
			
	 Section 5.4.
	 	 Successors, Assigns and Transferees
	  	 	28	 

  
 - i - 

							
	 Section 5.5.
	 	 Legend
	  	 	28	 
			
	 Section 5.6.
	 	 Notices
	  	 	28	 
			
	 Section 5.7.
	 	 Entire Agreement
	  	 	30	 
			
	 Section 5.8.
	 	 Delays or Omissions
	  	 	30	 
			
	 Section 5.9.
	 	 Governing Law; Severability; Limitation of Liability; Judicial Proceedings
	  	 	30	 
			
	 Section 5.10.
	 	 Equitable Relief
	  	 	31	 
			
	 Section 5.11.
	 	 Aggregation of Shares
	  	 	31	 
			
	 Section 5.12.
	 	 Subsequent Acquisition of Shares
	  	 	31	 
			
	 Section 5.13.
	 	 Table of Contents, Headings and Captions
	  	 	31	 
			
	 Section 5.14.
	 	 No Recourse
	  	 	31	 
			
	 Section 5.15.
	 	 Counterparts
	  	 	32	 

 Schedules and Exhibits 
  

			
	 Schedule I
	 	 Share Ownership

		
	 Schedule II
	 	 Directors as of the BrightSpring Closing

		
	 Schedule III
	 	 Walgreens Approval Rights

		
	 Annex A
	 	 Form of Joinder Agreement

  
 - ii - 

 AMENDED AND RESTATED STOCKHOLDERS’ AGREEMENT 

This Amended and Restated Stockholders’ Agreement (this “Agreement”) is entered into as of March 5, 2019, by and among
Phoenix Parent Holdings Inc., a Delaware corporation (the “Company”), KKR Phoenix Aggregator L.P., a Delaware limited partnership (“KKR”), Walgreen Co., an Illinois corporation (“Walgreens” and,
together with KKR and any other stockholders of the Company who become party to this Agreement from time to time pursuant to the terms hereof, the “Stockholders”), KKR Americas Fund XII L.P. (“KKR Americas
XII”), solely for purposes of Sections 3.3(d), 4.3, 4.4, 5.3, 5.4, 5.6, 5.7, 5.8, 5.9, 5.10, 5.13, 5.14 and 5.15 (the “KKR Americas Specified Provisions”), Walgreens Boots Alliance, Inc. (“WBA”), solely
for purposes of Sections 2.7, 3.3(d), 4.2, 4.3, 4.4, 4.6, 5.3, 5.4, 5.6, 5.7, 5.8, 5.9, 5.10, 5.13, 5.14 and 5.15 (the “WBA Specified Provisions”) and PharMerica Corporation, a Delaware corporation
(“PharMerica”), solely for the purposes of Section 4.7. 
 RECITALS 

WHEREAS, on December 7, 2017, the parties hereto entered into a Stockholders’ Agreement (the “Original
Agreement”) in connection with the closing of the acquisition by the Company, by a merger of Phoenix Merger Sub Inc. with and into PharMerica, of all of the outstanding common stock of PharMerica (the “Acquisition” and
the closing of such Acquisition, the “Closing”); 
 WHEREAS, on December 10, 2018, the Company, Cardinal Merger Sub Inc.,
Onex Rescare Holdings Corp. (“BrightSpring”). and Onex Partners GP, Inc. entered into an Agreement and Plan of Merger (as amended, supplemented or otherwise modified from time to time, the “BrightSpring Merger
Agreement”), pursuant to and subject to the terms and conditions of which, among other things, the Company would acquire, by a merger of Cardinal Merger Sub Inc. with and into BrightSpring, all of the outstanding common stock of
BrightSpring (the “BrightSpring Acquisition”); 
 WHEREAS, in connection with the closing of the BrightSpring Acquisition
(the “BrightSpring Closing”) the parties hereto desire to amend and restate the Original Agreement; 
 WHEREAS, immediately
following the BrightSpring Closing and as of the date hereof, KKR and Walgreens Beneficially Own (as defined below) the respective amounts of the issued and outstanding Common Stock (as defined below) set forth in Schedule I to this
Agreement; and 
 NOW, THEREFORE, in consideration of the premises and of the covenants and obligations hereinafter set forth, the parties
hereby agree to amend and restate the Original Agreement in its entirety as follows: 
 ARTICLE I  

DEFINITIONS 

Section 1.1.    Certain Defined Terms. As used herein, the following terms shall have the following meanings:

 “ABDC” means AmerisourceBergen Drug Corporation. 

“ABDC Prime Vendor Agreement” means, collectively, that certain Pharmaceutical Purchase and Distribution Agreement, dated as
of March 13, 2013, by and between ABDC (and certain of its affiliates) and Walgreens (and certain of its affiliates), as amended prior to the date hereof (the “Underlying ABDC Prime Vendor Agreement”) and as further amended
by that certain Joinder Agreement and Eighth Amendment to the Pharmaceutical Purchase and Distribution Agreement, dated as of December 7, 2017, pursuant to which, among other things, PharMerica is treated as an affiliate of Walgreens under such
Pharmaceutical Purchase and Distribution Agreement, entitling PharMerica and its Subsidiaries to purchase pharmaceuticals and other products thereunder on the terms set forth therein (the “Eighth Amendment to the ABDC Prime Vendor
Agreement”), each as may be amended from time to time in accordance with their terms. 

  
 1 

 “Acquisition” has the meaning set forth in the recitals. 

“Adverse PVA Amendment” has the meaning set forth in Section 4.7. 

“Adverse PVA Termination” has the meaning set forth in Section 4.7. 

“Adverse WBAD Termination” has the meaning set forth in Section 4.7. 

“Affiliate” means, with respect to any Person, an “affiliate” as defined in Rule 405 of the regulations promulgated
under the Securities Act; provided, however, that notwithstanding the foregoing, an Affiliate of a KKR Stockholder or KKR Americas XII shall not include any KKR Portfolio Company; provided, further, that for purposes of
this Agreement none of the Stockholders, KKR Americas XII and WBA shall be deemed to be an Affiliate of the Company or any of its Subsidiaries (or vice versa). 

“Affiliated Purchasing Arrangement” has the meaning set forth in Section 4.7. 

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

“Alternative Purchasing Arrangement” has the meaning set forth in Section 4.7. 

“Appraisal-Related Additional Capital Contribution” has the meaning set forth in Section 3.8(b). 

“Appraisal-Related Additional Capital Contribution Cap” has the meaning set forth in Section 3.8(b). 

“Associated Person” has the meaning set forth in Section 5.14. 

“Beneficial Ownership” of any securities means ownership by a Person who, directly or indirectly, through any contract,
arrangement, understanding, relationship or otherwise, has or shares (i) voting power which includes the power to vote, or to direct the voting of, such security; and/or (ii) investment power which includes the power to dispose, or to
direct the disposition, of such security. The terms “Beneficially Own” and “Beneficial Owner” shall have a correlative meaning. For the avoidance of doubt, no Stockholder shall be deemed to Beneficially Own
any securities of the Company or any of its Subsidiaries held by any other holder of such securities solely by virtue of the provisions of this Agreement (other than this definition). 

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

“BrightSpring” has the meaning set forth in the recitals. 

“BrightSpring Acquisition” has the meaning set forth in the recitals. 

“BrightSpring Closing” has the meaning set forth in the recitals. 

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

“Business Day” means any day other than a Saturday, a Sunday or other day on which national banking associations in the State
of New York are authorized by Law to be closed. 
 “Capital Stock” means any and all shares, interests, participations or
other equivalents (however designated) of capital stock of a corporation, any and all ownership interests in a Person (other than a corporation), and any and all warrants, options or other rights to purchase or acquire any of the foregoing. 

“Closing” has the meaning set forth in the recitals. 

“Closing Date” means December 7, 2017. 

  
 2 

 “Common Stock” means the common stock, par value $0.01 per share, of the
Company and any securities issued in respect thereof, or in substitution therefor, in connection with any stock split, dividend or combination, or any reclassification, recapitalization, merger, consolidation, exchange or other similar
reorganization. 
 “Company” has the meaning set forth in the preamble; provided that, following an Initial Public
Offering, references herein to the Company shall be deemed to be references to the IPO Corporation (unless the context clearly indicates otherwise). 

“Company Sale” has the meaning set forth in Section 3.3(a). 

“Confidential Information” means all confidential or proprietary information (irrespective of the form of communication)
obtained by or on behalf of a Stockholder or any of its Representatives from the Company or any of its Subsidiaries or any of their respective Representatives, through the ownership of Shares or through the rights granted pursuant hereto, other than
any information which (i) was or becomes generally available to the public other than as a result of a breach of this Agreement by a Stockholder or any of its Representatives, (ii) was or becomes available to a Stockholder or any of its
Representatives on a nonconfidential basis prior to disclosure to such Stockholder or its Representative by the Company or any of its Subsidiaries or any of their respective Representatives, (iii) was or becomes available to a Stockholder or
any of its Representatives from a source other than the Company or any of its Subsidiaries or any of their respective Representatives, provided that such source is not known by such Stockholder or its Representative to be bound by a
confidentiality agreement or other obligation of confidentiality with the Company or any of its Subsidiaries or (iv) is independently developed by a Stockholder or any of its Representatives without the use of any such information received
under this Agreement. Confidential Information also includes (x) all information previously provided under the provisions of any confidentiality agreement(s) between the Stockholders or their Affiliates and the Company or PharMerica entered
into in connection with the Acquisition, including all information, documents and reports referred to thereunder, (y) all understandings, agreements and other arrangements between and among the Stockholders or their respective Affiliates
relating to or in consideration with their investments in, or dealings with, the Company and its Subsidiaries, and (z) all other non-public information received from, or otherwise relating to, the Company and its Subsidiaries or any Stockholder
or other investor in any of the foregoing. 
 “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 Persons” has the meaning set forth in Section 4.3(a). 

“Declining Stockholders” has the meaning set forth in Section 3.7(b). 

“DGCL” means the General Corporation Law of the State of Delaware, as amended. 

“Director” means any member of the Board or the IPO Corporation Board, as the case may be. 

“Drag Shares” has the meaning set forth in Section 3.5(a). 

“Dragging Stockholders” has the meaning set forth in Section 3.5(a). 

“ERISA” means the Employee Retirement Income Security Act of 1974, as amended. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time, and the rules and regulations
promulgated pursuant thereto. 
 “Expert Auditor” has the meaning set forth in Section 4.7(b). 

  
 3 

 “GAAP” means generally accepted accounting principles, as in effect in the
United States of America from time to time. 
 “Governmental Authority” means: (i) any nation, state, commonwealth,
province, territory, county, municipality, district or other jurisdiction of any nature; (ii) the United States and other federal, state, local, municipal, foreign or other government or (iii) any governmental or quasi-governmental
authority of any nature (including any governmental division, department, agency, commission, instrumentality, official, organization, unit, body or entity and any court or other tribunal). 

“Inclusion Notice” has the meaning set forth in Section 3.4(b). 

“Inclusion Right” has the meaning set forth in Section 3.4(c). 

“Indemnification Agreement” means that certain Amended and Restated Indemnification Agreement, dated as of the date hereof,
by and among the Company, Phoenix Guarantor Inc., PharMerica, BrightSpring, Kohlberg Kravis Roberts & Co. L.P. and WBA, as the same may be amended from time to time in accordance with its terms. 

“Indemnification Amount” has the meaning set forth in Section 4.7(c). 

“Indemnification Cap” has the meaning set forth in Section 4.7(a). 

“Initial Management Equity Program” means the Management Equity Program established or entered into in connection with the
Acquisition and pursuant to which a pool of no greater than 10% of the total Shares outstanding (calculated on a fully diluted basis) in the aggregate have been authorized for issuance. 

“Initial Public Offering” means the first firm commitment underwritten public offering of equity securities of the IPO
Corporation pursuant to an effective registration statement under the Securities Act (other than a registration statement on Forms S-4 or S-8 or any similar form). 

“Interim Investors Agreements” means (a) the interim investors agreement, dated as of August 1, 2017, by and among the
Company, KKR Americas XII and WBA and (b) the interim investors agreement, dated as of March 5, 2019, by and among the Company, KKR Americas XII and WBA. 

“IPO Corporation” means the Company, as the entity which undertakes the Initial Public Offering, unless the Board otherwise
determines that the “IPO Corporation” shall be any Subsidiary of the Company or another corporation, limited liability company, limited partnership, or any other entity, in which case the IPO Corporation shall be such other Person. 

“IPO Corporation Board” has the meaning set forth in Section 2.1(c)(i). 

“Issuance Notice” has the meaning set forth in Section 3.7(a). 

“Joinder Agreement” has the meaning set forth in Section 3.1(c). 

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

“KKR Americas Specified Provisions” has the meaning set forth in the preamble. 

“KKR Board Representation Number” means the following number as applicable from time to time: three (3) as of the
Closing Date and, following the Closing upon any change in the number of Directors constituting the entire Board and/or change in the percentage of the issued and outstanding Shares that are Beneficially Owned by the KKR Stockholders, the KKR Board
Representation Number shall be equal to the product (rounded up or down to the nearest whole number) of (i) the total number of Directors constituting the entire Board (without taking into account, prior to an Initial Public Offering, the
Director that is also the Chief Executive Officer of the Company) multiplied by (ii) the percentage of the issued and outstanding Shares that are Beneficially Owned by the KKR Stockholders. 

  
 4 

 “KKR Debt Fund Affiliates” has the meaning set forth in
Section 4.4(a). 
 “KKR Designated Director” has the meaning set forth in Section 2.1(b)(i). 

“KKR Nominee” has the meaning set forth in Section 2.1(c)(i). 

“KKR Portfolio Company” means any portfolio company (as such term is commonly understood in the private equity industry)
owned by any fund managed or advised by Kohlberg Kravis Roberts & Co. L.P. or any of its Affiliates. 
 “KKR
Stockholder” means KKR and any of its Permitted Transferees that has become a Stockholder in accordance with this Agreement. 

“Law” means any applicable constitutional provision, statute, act, code, law, regulation, rule, ordinance, order, decree,
ruling, proclamation, resolution, judgment, decision, declaration, or interpretative or advisory opinion or letter of a Governmental Authority. 

“Management Equity Program” any management equity plan, stock incentive plan or other management or employee benefit plan or
agreement, or any combination thereof, pursuant to which a pool of Shares or other equity securities of the Company or any of its Subsidiaries has been authorized for issuance to members of management and/or other employees or consultants of the
Company and its Subsidiaries. 
 “Merger Agreement” means that certain Agreement and Plan of Merger, dated as of August 1,
2017, by and among the Company, Phoenix Merger Sub, Inc. and PharMerica, as amended, supplemented or otherwise modified from time to time. 

“Monitoring Agreement” means that certain agreement, dated as of the date hereof, by and among PharMerica, Phoenix Guarantor
Inc., Kohlberg Kravis Roberts & Co. L.P. and WBA, pursuant to which certain management, consulting and financial services are to be provided to the Company and its Subsidiaries, as the same may be amended from time to time in accordance
with its terms. 
 “Negotiation Period” has the meaning set forth in Section 4.7(c). 

“Option Care” has the meaning set forth in Section 2.7. 

“Participating Stockholder” has the meaning set forth in Section 3.7(a). 

“Permitted Transferee” means (A) with respect to any Walgreens Stockholder: (i) any Affiliate of such Person to the
extent that a majority of the equity interest in, and the voting power with respect to, such Affiliate are Beneficially Owned by WBA, and (B) with respect to any KKR Stockholder: (i) any Affiliate of such Person, (ii) any successor
entity of such Person and (iii) any investment fund or vehicle with respect to which Kohlberg Kravis Roberts & Co. L.P. or an Affiliate thereof serves as the general partner or manager or advisor; except to the extent that a majority
of the equity interest in, and the voting power with respect to, such Persons described in clauses (B)(i), (ii) or (iii) are Beneficially Owned by Persons other than Affiliates of Kohlberg Kravis Roberts & Co. L.P. or investment funds or
vehicles with respect to which Kohlberg Kravis Roberts & Co. L.P. or an Affiliate thereof serves as the general partner or manager or advisor. 

“Person” means any natural person, corporation, limited partnership, general partnership, limited liability company, joint
stock company, joint venture, association, company, estate, trust, bank trust company, land trust, business trust, or other organization, whether or not a legal entity, custodian, trustee-executor, administrator, nominee or entity in a
representative capacity and any government or agency or political subdivision thereof. 
 “PharMerica” has the meaning set
forth in the preamble. 

  
 5 

 “Post-IPO Period” has the meaning set forth in Section 2.1(c). 

“Preemptive Percentage” has the meaning set forth in Section 3.7(b). 

“Pre-IPO Period” has the meaning set forth in Section 2.1(b). 

“Public Offering” means a public offering of equity securities pursuant to a registration statement declared effective under
the Securities Act. 
 “Registration Rights Agreement” means that certain Registration Rights Agreement, dated as of the
Closing Date, among the Company and each of the Stockholders, as the same may be amended from time to time in accordance with its terms. 

“Representatives” has the meaning set forth in Section 4.2(c). 

“Required Sale” has the meaning set forth in Section 3.5(a). 

“Required Sale Notice” has the meaning set forth in Section 3.5(a). 

“Restricted Business” has the meaning set forth in Section 4.3(b). 

“Restricted Period” means the period commencing on December 7, 2017 and terminating on the earliest to occur of the following
events: (i) prior to an Initial Public Offering, (A) with respect to WBA, the date that the Walgreens Stockholders collectively cease to hold at least 15% of the issued and outstanding Shares (disregarding any Shares or options to purchase
Shares issued or granted to management or employees of the Company and its Subsidiaries) and (B) with respect to KKR Americas XII, the date that the KKR Stockholders collectively cease to hold at least a majority of the issued and outstanding
Shares (disregarding any Shares or options to purchase Shares issued or granted to management or employees of the Company and its Subsidiaries) and (ii) after an Initial Public Offering, the earlier of (A) the third anniversary of the date
of completion of such Initial Public Offering and (B) (x) with respect to WBA, the date that the Walgreens Stockholders collectively cease to hold at least 50% of the Shares the Walgreens Stockholders held immediately prior to the completion of
such Initial Public Offering and (y) with respect to KKR Americas XII, the date that the KKR Stockholders collectively cease to hold at least 50% of the Shares the KKR Stockholders held immediately prior to the completion of such Initial Public
Offering. 
 “Restricted Person” has the meaning set forth in Section 4.3(a). 

“Sale Proposal” has the meaning set forth in Section 3.5(a). 

“Same Terms and Conditions” means the same price and otherwise on the same terms and conditions (and with respect to any
consideration to be paid to the Selling Stockholders or the Dragging Stockholders (as the case may be) with respect to, arising out of, or in connection with the subject transaction, excluding any amounts payable under (i) the Monitoring
Agreement or (ii) any other then-existing agreement between the Company or its Subsidiaries and the Selling Stockholders or the Dragging Stockholders (as the case may be) entered into in compliance with this Agreement, in the case of each of
clauses (i) and (ii), which is in addition to the consideration paid to the Selling Stockholders or the Dragging Stockholders (as the case may be) as payment for, or distribution on, their Shares); provided, that (x) the Selling
Stockholders or the Dragging Stockholders (as the case may be) may receive, even if not offered to the other Stockholders, rights to appoint members of any board of directors or similar governing body or any other governance rights (including board
observer rights) and (y) the Selling Stockholders or the Dragging Stockholders (as the case may be) may receive, even if not offered to the other Stockholders, rights to Transfer any securities received in such transaction not given to the
other Stockholders. 
 “SEC” means the United States Securities and Exchange Commission. 

  
 6 

 “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 Stockholder” has the
meaning set forth in Section 3.4(a). 
 “Senior Credit Facility” has the meaning set forth in Section 4.4(a).

 “Shares” means shares of the Capital Stock of the Company. 

“Sharing Percentage” means, with respect to each Stockholder (or group of Stockholders), the fraction (expressed as a
percentage), the numerator of which is the number of Shares owned by such Stockholder (or group) and the denominator of which is the sum of the total number of Shares owned by all Stockholders (or the relevant Stockholders if the calculation is made
with respect to a specified group of Stockholders). 
 “Shortfall Funding” has the meaning set forth in
Section 3.7(b). 
 “Significant Subsidiary” of any Person means a Subsidiary of such Person that would constitute a
“significant subsidiary” of such Person within the meaning of Rule 1-02(w) of Regulation S-X as promulgated by the SEC and as in effect on the date hereof. 

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

“Subscription Period” has the meaning set forth in Section 3.7(a). 

“Subsidiary” means with respect to any Person (i) any corporation or other entity a majority of the Capital Stock of
which having ordinary voting power to elect a majority of the board of directors or other Persons performing similar functions is at the time owned, directly or indirectly, with power to vote, by such initial Person or (ii) a partnership in
which such initial Person or any direct or indirect Subsidiary of such initial Person is a general partner. For the avoidance of doubt, all references herein to the Subsidiaries of the Company shall include PharMerica and its Subsidiaries unless
explicitly stated otherwise. 
 “Tag-Along Pro Rata Share” means a fraction, the numerator of which is the aggregate number
of Shares proposed to be Transferred by the Selling Stockholder in the transaction subject to the applicable Inclusion Notice, and the denominator of which is the aggregate number of Shares Beneficially Owned by the KKR Stockholders. 

“Tag Offerees” has the meaning set forth in Section 3.4(a). 

“Term Debt” has the meaning set forth in Section 4.4(a). 

“Term Debt Limit” has the meaning set forth in Section 4.4(a). 

“Transaction Agreements” means, collectively, the Interim Investors Agreements (in the case of the Interim Investors
Agreement dated August 1, 2017, solely with respect to the provisions thereof that expressly survive the Closing, and, in the case of the Interim Investors Agreement dated March 5, 2019 solely with respect to the provisions thereof that expressly
survive the closing of the BrightSpring Acquisition), the Registration Rights Agreement, the Indemnification Agreement, the Monitoring Agreement and the Transaction Fee Agreement. 

“Transaction Fee Agreement” means that certain Transaction Fee Agreement, dated as of the date hereof, by and among KKR, WBA
and Phoenix Guarantor Inc. 
 “Transfer” or “Transferred” means any direct or indirect transfer, sale,
gift, assignment, exchange, mortgage, pledge, hypothecation, encumbrance or any other disposition (whether voluntary or involuntary or by operation of law) of any Shares (or any interest (pecuniary or otherwise) therein or rights thereto)
Beneficially Owned by a Person. In the event that any Stockholder that is a corporation, partnership, limited liability company 

  
 7 

 
or other legal entity (other than an individual, trust or estate) ceases to be controlled by the Person or group of Persons controlling such Stockholder or any Permitted Transferee or Permitted
Transferees of such Person or group of Persons, such event shall be deemed to constitute a “Transfer” subject to the restrictions on Transfer contained or referenced herein. For the avoidance of doubt, any direct or indirect transfer,
sale, assignment, exchange or any other disposition by a partner, member or other equity holder of a Stockholder to another Person, of any partnership or membership interest or other equity security of such Stockholder that does not result in the
Person or group of Persons controlling such Stockholder or a Permitted Transferee or Permitted Transferees of such Person or group of Persons to cease to control such Stockholder, shall not be deemed to constitute a “Transfer” subject to
the restrictions on Transfer contained or referenced herein. 
 “Voting Securities” means, at any time, shares of any class
of Capital Stock or other securities of the Company or any of its Subsidiaries that are then entitled to vote generally in the election of Directors and not solely upon the occurrence and during the continuation of certain specified events, and any
securities convertible into or exercisable or exchangeable for such shares of Capital Stock or other securities. 

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

“Walgreens Board Representation Number” means the following number as applicable from time to time: two (2) as of the
Closing Date and, following the Closing upon any change in the number of Directors constituting the entire Board and/or change in the percentage of the issued and outstanding Shares that are Beneficially Owned by the Walgreens Stockholders, the
Walgreens Board Representation Number shall be equal to the product (rounded up or down to the nearest whole number) of (i) the total number of Directors constituting the entire Board (without taking into account the Director that is also the
Chief Executive Officer of the Company) multiplied by (ii) the percentage of the issued and outstanding Shares that are Beneficially Owned by the Walgreens Stockholders. 

“Walgreens Designated Director” has the meaning set forth in Section 2.1(b)(i). 

“Walgreens Nominee” has the meaning set forth in Section 2.1(c)(i). 

“Walgreens Stockholder” means Walgreens and any of its Permitted Transferees that has become a Stockholder in accordance with
this Agreement. 
 “WBA” has the meaning set forth in the preamble. 

“WBAD” has the meaning set forth in Section 4.7. 

“WBAD Membership Agreement” has the meaning set forth in Section 4.7. 

“WBA Specified Provisions” has the meaning set forth in the preamble. 

Section 1.2.    Construction. Unless the context requires otherwise, the gender of all words used in this
Agreement includes the masculine, feminine and neuter forms and the singular form of words shall include the plural and vice versa. All references to Articles and Sections refer to articles and sections of this Agreement, and all references to
Schedules and Exhibits are to Schedules and Exhibits attached hereto, each of which is made a part hereof for all purposes. 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 to the extent the context otherwise provides). This Agreement shall be construed without regard to any presumption or rule requiring construction or interpretation against
the party drafting or causing any instrument to be drafted. 

  
 8 

 ARTICLE II  

CORPORATE GOVERNANCE 

Section 2.1.    Board Representation. 

(a)    Board Size. At the BrightSpring Closing, the Company and the Stockholders shall take such action, including
any stockholder votes or written consents in lieu thereof, as may be necessary to cause the board of directors of the Company (the “Board”) to consist, immediately following the BrightSpring Closing, of seven (7) Directors as
identified on Schedule II, three of which are KKR Designated Directors, two of which are Walgreens Designated Directors, one of which is the then-current Chief Executive Officer of the Company and one of which has been mutually agreed by the
KKR Stockholder and the Walgreens Stockholder. Any changes in the size or composition of the Board following Closing will be subject to the provisions of this Section 2.1. 

(b)    Board Representation during Pre-IPO Period. From the Closing until an Initial Public Offering (the
“Pre-IPO Period”), unless both the KKR Stockholder and the Walgreens Stockholder otherwise agree in writing: 

(i)    Each Stockholder agrees that it will vote, or execute a written consent in lieu thereof with respect
to, all of the Voting Securities Beneficially Owned or held of record by it or cause all of the Voting Securities Beneficially Owned by it to be voted, or cause a written consent in lieu thereof to be executed, to elect and, during such period, to
continue in office a Board consisting, in each case, solely of the following individuals: (A) a number of individuals designated by the KKR Stockholder equal to the KKR Board Representation Number, as applicable from time to time (with each
such individual being designated by the KKR Stockholder as the KKR Stockholder shall from time to time designate in writing to the Company), or such lower number as determined by the KKR Stockholder (each, a “KKR Designated
Director), (B) a number of individuals designated by the Walgreens Stockholder equal to the Walgreens Board Representation Number, as applicable from time to time (with each such individual being designated by the Walgreens Stockholder as the
Walgreens Stockholder shall from time to time designate in writing to the Company), or such lower number as determined by the Walgreens Stockholder (each, a “Walgreens Designated Director), (C) the then-current Chief Executive Officer of
the Company (unless such individual is at the time an interim or acting Chief Executive Officer, in which case such individual may serve as a Director only if the KKR Stockholder and the Walgreens Stockholder mutually agree) and (D) if one or
more other individuals as mutually agreed by the KKR Stockholder and the Walgreens Stockholder. 

(ii)    If, from time to time, the KKR Board Representation Number or the Walgreens Board Representation
Number shall increase or decrease, the Company and the KKR Stockholders or Walgreens Stockholders, as applicable, shall take all necessary action to cause the applicable number of KKR Designated Directors or Walgreens Designated Directors to be
appointed or removed (as the case may be) immediately and the Stockholders and the Company shall take all necessary action to cause the number of directors on the Board to be increased or reduced accordingly. Except as provided above, during the
Pre-IPO Period, the KKR Stockholder and the Walgreens Stockholder shall have the exclusive right to appoint and to remove, in each case at any time and from time to time, each of the KKR Designated Directors and the Walgreens Designated Directors,
respectively, as well as the exclusive right to fill any and all vacancies created by reason of death, removal or resignation of such designees, and the Stockholders and the Company shall take all necessary action to cause the Board to be so
constituted. 
 (c)    Board Representation during Post-IPO Period. From and after an Initial Public Offering
(the “Post-IPO Period”), to the extent permitted by Law and the rules of any stock exchange on which the Shares may be listed, unless both the KKR Stockholder and the Walgreens Stockholder otherwise agree in writing: 

(i)    The KKR Stockholder will have the right to nominate a number of individuals for election to the
board of directors of the IPO Corporation (the “IPO Corporation Board”) equal to the then-applicable KKR Board Representation Number, or such lower number as determined by the KKR Stockholder (each, a “KKR
Nominee”), and the Walgreens Stockholder will have the right to nominate a number of individuals for election to the IPO Corporation Board equal to the then-applicable Walgreens Board Representation Number, or such lower number as
determined by the Walgreens Stockholder (each, a “Walgreens Nominee”). 

  
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 (ii)    For so long as the KKR Stockholder or the
Walgreens Stockholder has the right to nominate any KKR Nominee or any Walgreens Nominee, respectively, in connection with each election of Directors, the IPO Corporation shall, and the KKR Stockholders and the Walgreens Stockholders shall take all
actions necessary to cause the IPO Corporation to, nominate each KKR Nominee or each Walgreens Nominee, as the case may be, for election as a Director as part of the slate that is included in the proxy statement (or consent solicitation or similar
document) of the IPO Corporation relating to the election of Directors, and to provide the highest level of support for the election of each such KKR Nominee or each such Walgreens Nominee, as the case may be, as it provides to any other individual
standing for election as a Director as part of the IPO Corporation’s slate of Directors. For so long as the KKR Stockholder or the Walgreens Stockholder has the right to nominate any KKR Nominee or any Walgreens Nominee, respectively, the IPO
Corporation shall not nominate, and the KKR Stockholders and the Walgreens Stockholders shall take all actions necessary to cause the IPO Corporation to refrain from nominating, a number of nominees for any election of Directors that exceeds the
number of Directors to be elected. 
 (iii)    In the event that a KKR Nominee or a Walgreens Nominee
shall cease to serve as a Director for any reason (including any removal thereof), the KKR Stockholder or the Walgreens Stockholder, respectively, shall have the right to appoint another KKR Nominee or Walgreens Nominee, respectively, to fill any
vacancy resulting therefrom. For the avoidance of doubt, it is understood that the failure of the stockholders of the IPO Corporation to elect any KKR Nominee or any Walgreens Nominee shall not affect the right of the KKR Stockholder or the
Walgreens Stockholder, as applicable, to designate the KKR Nominees or the Walgreens Nominees, as the case may be, for election pursuant to this Section 2.1(c) in connection with any future election of Directors. 

(iv)    Following an Initial Public Offering and until such time as the IPO Corporation is no longer a
“controlled company” (as defined under the applicable stock exchange listing rules), each Stockholder that Beneficially Owns Voting Securities shall vote all of such Voting Securities in favor of each KKR Nominee and each Walgreens Nominee
nominated in accordance with this Section 2.1(c). Each Stockholder agrees that, (A) if and for so long as the KKR Stockholder is permitted to nominate one or more KKR Nominees pursuant to this Section 2.1(c) and such Stockholder is
then entitled to vote for the removal of any such KKR Nominee, such Stockholder will not vote in favor of the removal of any such KKR Nominee unless requested in writing by the KKR Stockholder and (B) if and for so long as the Walgreens
Stockholder is permitted to nominate one or more Walgreens Nominees pursuant to this Section 2.1(c) and such Stockholder is then entitled to vote for the removal of any such Walgreens Nominee, such Stockholder will not vote in favor of the
removal of any such Walgreens Nominee unless requested in writing by the Walgreens Stockholder. 
 (d)    Other Board
Matters. 
 (i)    The Company shall reimburse each Director (or the Person that designated (or
nominated) such Director) for all reasonable and documented out-of-pocket expenses incurred by such Director (or the Person that designated (or nominated) such Director, on his or her behalf) in connection with his or her attendance at meetings of
the Board, and any committees thereof, including travel, lodging and meal expenses. 
 (ii)    The
Company shall obtain customary director and officer indemnity insurance on commercially reasonable terms as determined by the Board. 

Section 2.2.    Committees. The Board shall establish a Compliance and Governance Committee, which shall
review general internal control and risk management procedures and regulatory compliance programs, an Audit Committee and a Compensation Committee and any other committee of such Board that may be formed upon the approval of such Board and in
compliance with Section 2.4, with such powers and rights as are determined by the Board, and with such composition as determined by the Board; provided, that, (i) until such time as the Walgreens Stockholder is no longer entitled to
designate or nominate any Directors pursuant to 

  
 10 

 
Section 2.1, to the extent permitted by Law and the rules of any stock exchange on which the Shares may then be listed, the Walgreens Stockholder shall be entitled to appoint at least one
member to each committee of the Board, and (ii) to the extent permitted by Law and the rules of any stock exchange on which the Shares then be listed, the KKR Stockholder shall be entitled to appoint the remaining members of the Compliance and
Governance Committee, the Audit Committee and the Compensation Committee and any such other committee. 

Section 2.3.    Meetings of the Board. The Board shall hold regular meetings at least quarterly at such times
and at such places as shall from time to time be determined by such Board, or the chairman thereof (if any), as applicable, and shall be called on at least five (5) Business Days’ notice to each Director. Directors holding at least two
(2) votes on the Board out of the total number of votes held by all Directors may call a special meeting of the Board on not less than five (5) Business Days’ notice to each other Director. Notice of any meeting of either Board may be
delivered to each Director personally, by telephone, by mail, by telecopier, by electronic mail or by any other means of communication reasonably calculated to give notice. Notice of any meeting of the Board need not be given to any Director if a
written waiver of notice, executed by such Director before or after the meeting, is filed with the records of the meeting, or to any Director who attends the meeting without protesting the lack of notice prior thereto or at its commencement. Each
notice of a meeting of the Board shall state the purposes of the meeting. Notwithstanding whether a meeting of the Board is requested to be an in- person meeting, Directors of the Board may participate in any meeting of such Board by means of
conference telephone, video conference or similar communications equipment by means of which all persons participating in the meeting can hear and speak to each other, and such participation in a meeting shall constitute presence in person at the
meeting. 
 Section 2.4.    Acts of the Board and Approval Rights. 

(a)    At all duly called meetings of the Board, Directors holding a majority of the total number of votes on such Board
shall constitute a quorum for the transaction of business. If a quorum shall not be present at any meeting of the Board, the Directors present thereat may adjourn the meeting from time to time, without notice other than announcement at the meeting,
until a quorum shall be present; provided that notice for any reconvened meeting shall have been given in accordance with Section 2.3; provided, further, that the quorum for the transaction of business at any reconvened or
subsequent meeting shall be Directors holding a majority of the total votes on the Board. No action may be taken by the Board without the consent of Directors holding a majority of the votes on such Board; provided that, prior to an Initial
Public Offering and so long as the Walgreens Stockholder owns at least 15% of the issued and outstanding Shares (disregarding any Shares or options to purchase Shares issued or granted to management or employees of the Company and its Subsidiaries),
any action set forth on Schedule III shall also require the approval of the Walgreens Designated Directors or the Walgreens Stockholder, provided, that, notwithstanding the foregoing, so long as the ABDC Prime Vendor Agreement
(or any replacement Affiliated Purchasing Arrangement under which WBA or its Affiliates are jointly and severally liable for the obligations of the Company or its Subsidiaries thereunder) is in effect, any action set forth in clause (xxi) of
Schedule III shall require the approval of the Walgreens Designated Directors (for so long as the Walgreens Stockholder has such board designation right) or the Walgreens Stockholder (even if the Walgreens Stockholder no longer Beneficially
Owns any Common Stock of the Company at such time) until the earlier to occur of (i) the execution of a separate agreement between PharMerica or any of its Subsidiaries and ABDC for the purchase of pharmaceuticals and other products directly
from ABDC, or (ii) September 30, 2026. 
 (b)    Each Director shall be entitled to one vote; provided that,
(i) except to the extent prohibited by Law, any Director shall be entitled to vote on behalf of one or more other Director(s) appointed or designated by the KKR Stockholder or the Walgreens Stockholder, as applicable, if such other Director(s)
is (or are) not present at a meeting of such Board (or a committee thereof), (ii) in the event the KKR Stockholder or the Walgreens Stockholder, as applicable, shall not have filled all of its designees to the Board allotted to such Person pursuant
to Section 2.1, any Director designated by such Person shall have, in addition to the right to vote for him- or her- self and any other Director(s) described in clause (i) above, the right to vote for any undesignated Director, such that
the KKR Designated Directors and the Walgreens Designated Directors shall, in connection with any vote of the Board (or a committee thereof), have a number of votes with respect to such matter as is equal to the number of designees such Person is
entitled to designate pursuant to Section 2.1 or Section 2.2, as applicable, at such time 

  
 11 

 
(e.g., if the KKR Stockholder shall have designated two (2) Directors, and shall be entitled to designate three (3) Directors, such KKR Designated Directors that have been so designated
shall be entitled to three (3) votes collectively) and (iii) except to the extent prohibited by Law, prior to an Initial Public Offering and so long as the KKR Stockholders Beneficially Own a majority of the issued and outstanding Shares,
the KKR Designated Directors collectively shall in all circumstances have a number of votes equal to a majority of the total number of votes on the Board. 

(c)    Both prior to and following an Initial Public Offering and until such time as the IPO Corporation is no longer a
“controlled company” (as defined under the applicable stock exchange listing rules), each Stockholder shall (i) cause all Voting Securities Beneficially Owned by such Stockholder to be voted in favor of any action requiring
stockholder approval that is approved by the requisite approvals of the Board as set forth in Section 2.4(a) and (ii) refrain from causing the Voting Securities of the Company that are Beneficially Owned by such Stockholder, to be voted in
favor of any action requiring stockholder approval that is not approved by the requisite approvals of the Board as set forth in Section 2.4(a). 

Section 2.5.    Action by Consent. Any action required or permitted to be taken at any meeting of the Board
may be taken without a meeting and without a vote, if a consent or consents in writing (including by facsimile and e-mail), setting forth the action so taken, shall be signed by all of the Directors (provided, that for such purposes an
electronic signature shall be valid). 
 Section 2.6.    Outside Activities. (a) Subject only to
Section 4.3, any Stockholder, Director or Affiliate of the foregoing, may engage in or possess any interest in other investments, business ventures or Persons of any nature or description, independently or with others, similar or dissimilar to,
or that competes with, the investments or business of the Company and its Subsidiaries, and may provide advice and other assistance to any such investment, business venture or Person, (b) the Company and the Stockholders shall have no rights by
virtue of this Agreement in and to such investments, business ventures or Persons or the income or profits derived therefrom, and (c) the pursuit of any such investment or venture, even if competitive with the business of the Company and its
Subsidiaries, shall not be deemed wrongful or improper and shall not constitute a conflict of interest or breach of fiduciary or other duty in respect of the Company, its Subsidiaries or the Stockholders. Subject only to Section 4.3, no
Stockholder, Director or Affiliate of the foregoing, shall be obligated to present any particular investment or business opportunity to the Company even if such opportunity is of a character that, if presented to the Company, could be pursued by the
Company, and any Stockholder, Director or Affiliate of the foregoing, shall have the right to pursue for its own account (individually or as a partner or a fiduciary) or to recommend to any other Person any such investment opportunity. 

Section 2.7.    Interlocking Directorates. Notwithstanding anything in this Article II to the contrary, WBA,
the Walgreens Stockholders and their Affiliates shall (i) not appoint or designate any individual as a member of the board of directors (or similar governing body) of the Company or any of its Subsidiaries any person serving as a board member
or officer of Option Care Enterprises, Inc. (“Option Care”) or any other long- term care pharmacy or specialty infusion competitor of the Company or its Subsidiaries; (ii) implement appropriate information sharing restrictions
to ensure that (x) information, data, or documents relating to or containing any competitively sensitive information of the Company or any of its Subsidiaries which are disclosed to or received by WBA’s, the Walgreens Stockholders’ or
their Affiliates’ individuals are not disclosed to Option Care or representatives of WBA, the Walgreens Stockholders or their Affiliates serving as officers or directors of Option Care or any representative managing the Walgreens
Stockholders’ or their Affiliates’ investment in Option Care, or any other representatives of the Walgreens Stockholders or their Affiliates directly responsible for managing a business or product line that competes directly with the
Company or any of its Subsidiaries and (y) information, data, or documents relating to or containing any competitively sensitive information of Option Care or any other business or product line that competes directly with the Company or any of
its Subsidiaries which are disclosed to, received by, or in the possession of WBA, the Walgreens Stockholders or their Affiliates are not disclosed to the Company or any of its Subsidiaries or representatives of WBA, the Walgreens Stockholders or
their Affiliates serving as officers or directors of the Company or any of its Subsidiaries or any representative managing WBA’s, the Walgreens Stockholders’ or their Affiliates’ investment in the Company or any of its Subsidiaries;
and (iii) if requested by the Company or the KKR Stockholder following a good faith determination 

  
 12 

 
by the Company or the KKR Stockholder that removal is necessary or appropriate pursuant to applicable Law and following reasonable consultation with WBA and the Walgreens Stockholder, remove its
designees from the boards of directors (or similar governing bodies) of the Company and its Subsidiaries (and shall not exercise its board designation rights pursuant to this Agreement) or, in the alternative and at WBA’s and the Walgreens
Stockholder’s discretion, remove their designees from the board of directors of Option Care and any other entity that competes directly with the Company or any of its Subsidiaries. 

ARTICLE III 
 TRANSFERABILITY
OF SHARES; PREEMPTIVE RIGHTS 
 Section 3.1.    Transfers Generally. 

(a)    Transfers Generally. No Stockholder shall Transfer any Shares held or Beneficially Owned (whether as of the
date hereof or subsequently acquired) by such Stockholder, unless such Transfer is made in accordance with the requirements of this Article III, as may be applicable, and any purported Transfer in violation of this Article III shall be null and void
ab initio. 
 (b)    Transfer Books. The Company shall not record upon its books any attempted Transfer of
Shares held or Beneficially Owned by any Stockholder to any other Person, except Transfers made in accordance with this Agreement, and any attempted Transfer not made in accordance with this Agreement shall be null and void ab initio. 

(c)    Rights and Obligations of Transferees. Other than in connection with a Transfer to a Permitted Transferee,
no transferee of Shares from any Walgreens Stockholder shall be entitled to any rights granted to any Walgreens Stockholder pursuant to Section 2.1 (including the right to appoint or nominate Directors and the right to appoint member(s) to any
committee of the Board), Section 2.4 (including any approval rights), Section 3.3(b), Section 4.2 or Section 4.4. Subject to the last sentence of this Section 3.1(c), no Transfer of Shares by a Stockholder that would
otherwise be permitted pursuant to this Agreement shall be effective unless (i) the transferee shall have executed an appropriate document (a “Joinder Agreement”) substantially in the form attached hereto as Annex A or
otherwise in form and substance reasonably satisfactory to the Company confirming that (A) the transferee takes such Shares subject to all the terms and conditions of this Agreement to the same extent as its transferor was bound and, except as
otherwise set forth herein, with all of the benefits of such provisions, and (B) such Shares shall bear legends, substantially in the forms required by Section 5.5, and (ii) such Joinder Agreement shall have been delivered to and approved
by the Company prior to such transferee’s acquisition of such shares, which approval shall not be unreasonably withheld, conditioned or delayed. Notwithstanding the foregoing, a transferee of Shares shall not be bound by any of the terms and
conditions of this Agreement if the applicable Transfer is pursuant to an effective registration statement under the Securities Act or pursuant to Rule 144 of the Securities Act. 

Section 3.2.    General Restrictions on Transfer of Shares. 

 

	 	(a)    A	 Stockholder may only Transfer Shares as follows: 

(i)    to a Permitted Transferee of such Stockholder; 

(ii)    pursuant to, and in accordance with, Section 3.3, Section 3.4 or Section 3.5; or

 (iii)    following the completion of an Initial Public Offering, any Stockholder may Transfer any or
all of such Stockholder’s Shares without regard to any restriction on transfer contained in this Section 3.2(a), but subject to compliance with the other provisions of this Article III and the Registration Rights Agreement, as applicable. 

  
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 Section 3.3.    Exit Transactions. 

(a)    Following the date that is forty-two months after the Closing Date, KKR shall have the right to (i) commence and
conduct a process for (and cause the consummation of) the sale of all of the Shares of the Company or all or substantially all of the consolidated assets of the Company (including the capital stock of any Subsidiaries of the Company) (a
“Company Sale”), which Company Sale may be effected by a Transfer of Shares, merger, sale of stock, sale of assets or other business combination, or (ii) initiate (and cause to be consummated) an Initial Public Offering. KKR,
following meaningful consultation with Walgreens, shall have the right to make all decisions with respect to such Initial Public Offering process; provided, that all decisions made in connection with such process shall be consistent with the
fiduciary duties of the Board. 
 (b)    Following the date that is the fifth anniversary of the Closing Date, if an
Initial Public Offering has not yet occurred (unless KKR has initiated a process with respect to an Initial Public Offering or a Company Sale and such process is ongoing), Walgreens shall have the right to initiate (and cause to be consummated) an
Initial Public Offering. 
 (c)    Prior to initiating any Company Sale, Required Sale (as defined below) or Initial
Public Offering, KKR shall engage in good-faith negotiations with Walgreens to discuss the terms of a potential acquisition by the Walgreens Stockholders (or an Affiliate thereof) of all Shares that are Beneficially Owned by the KKR Stockholders;
provided that the KKR Stockholders have the right to not accept any offer that may be made by the Walgreens Stockholders and the decision to initiate such a Company Sale or an Initial Public Offering (following consultation with Walgreens)
shall be in the sole discretion of KKR. If negotiations between Walgreens and KKR cease and KKR decides to initiate such a Company Sale, KKR shall provide written notice to Walgreens promptly following the date KKR initiates such Company Sale
(“Sale Notice Date”). If a definitive transaction agreement for such Company Sale is not executed and delivered by the parties thereto on or before one hundred and eighty (180) days after the Sale Notice Date (or if such
definitive transaction agreement is executed and delivered but subsequently terminated), the restrictions provided for in this Section 3.3(c) shall again become effective and no Company Sale may be initiated or continued thereafter by KKR
without again engaging with Walgreens pursuant to this Section 3.3(c). Any transaction agreement providing for the acquisition by the Walgreens Stockholders (or an Affiliate thereof) of all Shares that are Beneficially Owned by the KKR
Stockholders shall be on a “public company” basis with no post-closing indemnity or recourse to the KKR Stockholders or any Affiliate thereof. 

(d)    In the event the Walgreens Stockholders (or their Affiliates) purchase all of the Shares Beneficially Owned by the
KKR Stockholders or the KKR Stockholders (or their Affiliates) purchase all of the Shares Beneficially Owned by the Walgreens Stockholders (in each case, whether in a single or series of transactions), KKR Americas XII or WBA, as the case may be,
will agree to a customary confidentiality and non- solicit/no-hire agreement with respect to any Covered Persons consistent with the provisions set forth in Section 4.2(c) and Section 4.3(a), which
agreement shall expire on the second anniversary of the closing of such transaction. 

Section 3.4.    Tag-Along Rights. 

(a)    Subject to Section 3.3(a), no KKR Stockholder (the “Selling Stockholder”) shall sell or
otherwise effect a Transfer of all or any number of its Shares (other than (x) to a Permitted Transferee, (y) in a Required Sale pursuant to Section 3.5 or (z) to the Walgreens Stockholders (or their Affiliates)) unless the terms
and conditions of such Transfer include an offer, on the Same Terms and Conditions as the offer by the proposed third party transferee to the Selling Stockholder, to each of the Walgreens Stockholders (collectively, the “Tag
Offerees”), to include at the option of each Tag Offeree, in such Transfer to the third party, a number of Shares owned by each Tag Offeree determined in accordance with this Section 3.4. 

(b)    The Selling Stockholder shall promptly send written notice of such third party offer (the “Inclusion
Notice”) to each of the Tag Offerees in the manner specified herein, which Inclusion Notice shall include the material terms and conditions of the proposed Transfer, including but not limited to, (i) the name and address of the
proposed transferee, (ii) the proposed amount (including the amount per Share, if then calculable, 

  
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or an estimate thereof) and form of consideration, (iii) the proposed Transfer date, if known, (iv) the number of Shares to be sold by the Selling Stockholder and (v) the Tag-Along
Pro Rata Share. If a Tag Offeree exercises its Inclusion Right and there is an adverse change (other than an insignificant change) to the material terms (including for the avoidance of doubt any change to the form of consideration or a significant
decrease in the amount of consideration) or the material conditions of the offer set forth in any Inclusion Notice, the Selling Stockholder shall notify such Tag Offeree, and such Tag Offeree shall have five (5) Business Days to notify the
Selling Stockholder whether it wishes to withdraw its Shares from the Transfer. If such Tag Offeree does not notify the Selling Stockholder of its desire to withdraw its Shares from such Transfer within five (5) Business Days, such Tag
Offeree’s Inclusion Notice shall be deemed to continue to be valid with respect to such modified terms and/or conditions of such Transfer. 

(c)    Each Tag Offeree shall have the right (an “Inclusion Right”), exercisable by delivery of a notice
to the Selling Stockholder at any time within twenty (20) Business Days after receipt of the Inclusion Notice, to Transfer pursuant to such third party offer, and upon the terms and conditions set forth in the Inclusion Notice, that number of
Shares requested to be included by such Tag Offeree, which number shall not exceed a number of such Tag Offeree’s Shares equal to the product of (x) such Tag Offeree’s Shares multiplied by (y) the Tag-Along Pro Rata Share (it
being understood that the failure to exercise such right within such time period specified above shall be deemed to constitute a waiver of all of such Tag Offeree’s rights with respect to such proposed Transfer and any such exercise of the
Inclusion Right shall be irrevocable). If the proposed third party transferee is unwilling to acquire all of the Shares proposed to be Transferred by the Selling Stockholder and all exercising Tag Offerees (determined in accordance with the first
sentence of this Section 3.4(c)), then the Selling Stockholder and each exercising Tag Offeree shall reduce, on a pro rata basis based on their respective Sharing Percentages of the Shares held by the exercising Tag Offerees and the
Selling Stockholder (it being understood, that for purposes of determining the respective Sharing Percentages pursuant to this Section 3.4(c), all Shares owned by the KKR Stockholders shall be deemed to be owned by the Selling Stockholder), the
number of Shares that each otherwise would have Transferred so as to permit the Selling Stockholder and each exercising Tag Offeree to Transfer the number of Shares that the proposed third party transferee is willing to acquire. The Tag Offerees and
the Selling Stockholder shall Transfer to the proposed third party transferee the Shares proposed to be Transferred by them in accordance with this Section 3.4 at the time and place provided for the closing in the Inclusion Notice, or at such
other time and place as the Selling Stockholder and the proposed third party transferee shall agree. Notwithstanding the foregoing, no Tag Offeree shall be entitled to Transfer Shares pursuant to an Inclusion Right conferred pursuant to this
Section 3.4 in the event that, notwithstanding delivery of an Inclusion Notice pursuant to this Section 3.4, the Selling Stockholder fails to consummate the Transfer of Shares which gave rise to such Inclusion Right. The Selling
Stockholder shall, in its sole discretion, decide whether or not to pursue, consummate, postpone or abandon any proposed Transfer and the terms and conditions thereof, provided, that in the event that the Selling Stockholder and the proposed
transferee fail to execute and deliver a definitive transaction agreement for the Transfer of Shares which gave rise to such Inclusion Right within one hundred and eighty (180) days after the date of the Inclusion Notice (or if such definitive
transaction agreement is executed and delivered but subsequently terminated), the Selling Stockholder shall be required to deliver a revised Inclusion Notice in accordance with Section 3.4(b), and further comply with this Section 3.4(c),
and the offer set forth in such revised Inclusion Notice shall constitute a new offer for purposes of this Section 3.4. No Stockholder nor any Affiliate of any such Stockholder shall have any liability to any other Stockholder or the Company arising
from, relating to or in connection with the pursuit, consummation, postponement, abandonment or terms and conditions of any such proposed Transfer except to the extent such Stockholder shall have failed to comply with the provisions of this
Section 3.4. 
 (d)    In connection with any such Transfer, each Tag Offeree participating in such Transfer must
agree to make the same representations, warranties, covenants and indemnities as the Selling Stockholder; provided that (x) no such Tag Offeree shall be required to make representations and warranties or covenants or provide indemnities
as to any other Stockholder, (y) no Tag Offeree shall be liable for the breach of any covenant by any other Tag Offeree or the Selling Stockholder and (z) notwithstanding anything in this Section 3.4(d) to the contrary, any liability
relating to representations, warranties and covenants (and related indemnities) and other indemnification obligations regarding the business of the Company or its Subsidiaries assumed in connection with such Transfer shall be shared by all
exercising Tag Offerees electing to Transfer and the Selling Stockholder 

  
 15 

 
pro rata in proportion to the number of Shares to be actually Transferred by each of those Stockholders and in any event shall not exceed the proceeds received by such Stockholder
in the proposed Transfer. Each Tag Offeree participating in such Transfer will be responsible for its proportionate share, based upon the number of Shares Transferred in such Transfer by such Tag Offeree as a proportion of the total number of Shares
Transferred in such Transfer by the Selling Stockholder and all of the Tag Offerees, of the costs of the proposed Transfer to the extent not paid or reimbursed by the proposed third party transferee. 

(e)    For the avoidance of doubt, if the Inclusion Notice provides for cash consideration but certain Tag Offerees are
given the option by the proposed third party transferee to receive securities in lieu of such cash consideration in connection with a rollover transaction or similar transaction and elect to do so, such rollover securities shall be deemed to be the
same form of consideration. 
 (f)    The provisions of this Section 3.4 shall terminate upon completion of an
Initial Public Offering. 
 Section 3.5.     Drag Along Right. 

(a)    Subject to Section 3.3, if the KKR Stockholders (the “Dragging Stockholders”) (i) receive an
offer to purchase or otherwise desire to Transfer (a “Sale Proposal”) a number of Shares, including Shares owned by other Stockholders (the “Drag Shares”) and Shares owned by the KKR Stockholders, such that the
transaction would result in a sale of 50% or more of the Shares held by the Stockholders (taking into account all Shares being “dragged”) or (ii) otherwise desires to cause a Company Sale, including by merger, sale of assets
(including the capital stock of any Subsidiaries of the Company) or other business combination (each of (i) and (ii), a “Required Sale”), then the Dragging Stockholders may, by delivery of a written notice (a
“Required Sale Notice”) with respect to such Sale Proposal at least twenty (20) Business Days prior to the anticipated closing date of such Required Sale to all other Stockholders, require all other Stockholders to Transfer
their Shares to the proposed transferee, and/or take such other actions as may be reasonably requested in such Required Sale, on the Same Terms and Conditions, in accordance with the provisions of this Section 3.5. 

(b)    The Required Sale Notice will include the material terms and conditions of the Required Sale, including
(i) the name and address of the proposed transferee, (ii) the proposed amount (including the amount per Share, if then calculable, or an estimate thereof) per Share purchase price and form of consideration and (iii) the proposed
Transfer date, if known. The Dragging Stockholders will deliver or cause to be delivered to each other Stockholder copies of all transaction documents relating to the Required Sale promptly as the same become available. 

(c)    Each Stockholder, upon receipt of a Required Sale Notice, shall be obligated to Transfer the same proportion of its
Shares as is to be transferred by the Dragging Stockholder in the Required Sale contemplated by the Sale Proposal, to vote, if required by this Agreement or otherwise, its Shares in favor of the Required Sale at any meeting of stockholders called to
vote on or approve the Required Sale and/or to consent in writing to the Required Sale, to cause any designees of such Stockholder serving on the Board to vote in favor of the Required Sale in a vote among the Board called to vote on or approve the
Required Sale and/or to consent in writing to the Required Sale, to waive all dissenters’ or appraisal or similar rights, if any, in connection with the Required Sale, to enter into agreements relating to the Required Sale, to agree (as to
itself) to make to the proposed purchaser the same representations, warranties, covenants, indemnities and agreements as the Dragging Stockholders agree to make in connection with the Required Sale, and to take or cause to be taken all other actions
as may be reasonably necessary to consummate the Required Sale; provided that (x) unless otherwise agreed, a Stockholder may not be required to make representations and warranties or provide indemnities as to any other Stockholders,
(y) no such Stockholder shall be liable for the breach of any covenant by any other Stockholder and (z) notwithstanding anything in this Section 3.5(c) to the contrary, any liability relating to representations and warranties and
covenants (and related indemnities) and other indemnification obligations regarding the business of the Company or its Subsidiaries assumed in connection with the Required Sale shall be shared by all Stockholders based on their respective Sharing
Percentages and in any event shall not exceed the proceeds received by such Stockholder in the Required Sale. 

  
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 (d)    Any expenses incurred for the benefit of the Company or all
Stockholders, and any indemnities, holdbacks, escrows and similar items relating to the Required Sale, that are not paid or established by the Company (other than those that relate to representations or indemnities concerning a Stockholder’s
valid ownership of its Shares free and clear of all liens, claims and encumbrances or a Stockholder’s authority, power and legal right to enter into and consummate a purchase or merger agreement or ancillary documentation and the enforceability
thereof against such Stockholder) shall be paid or established by the Stockholders in accordance with their respective proportionate share based upon the number of Shares Transferred in such Required Sale by such Stockholder as a proportion of the
total number of Shares Transferred in such Required Sale by all of the Stockholders. 
 (e)    The Dragging Stockholders
shall, in their sole discretion, decide whether or not to pursue, consummate, postpone or abandon any Required Sale and the terms and conditions thereof. No Stockholder nor any Affiliate of any such Stockholder shall have any liability to any other
Stockholder or the Company arising from, relating to or in connection with the pursuit, consummation, postponement, abandonment or terms and conditions of any Required Sale except to the extent such Stockholder shall have failed to comply with the
provisions of this Section 3.5. 
 (f)    For the avoidance of doubt, if the Required Sale Notice provides for cash
consideration but certain Stockholders are given the option by the third party Transferee to receive securities in lieu of such cash consideration in connection with a rollover transaction or similar transaction and elect to do so, such rollover
securities shall be deemed to be the same form of consideration. 
 (g)    The provisions of this Section 3.5 shall
terminate upon the completion of an Initial Public Offering. 
 Section 3.6.    Other Transfer Restrictions.

 (a)    In addition to any other restrictions to Transfer herein contained, unless agreed by the Board and other than a
Company Sale or an Initial Public Offering effected in accordance with this Agreement, in no event may any Transfer of any Shares by any Stockholder be made: 

(i)    if such Transfer would require the registration of such Transferred Share pursuant to any applicable
foreign, federal, provincial or state securities Laws; 
 (ii)    if such Transfer would subject the
Company, its stockholders or any of their respective Affiliates to regulation under the Investment Company Act of 1940, as amended, or Title I of ERISA, or would subject the Company, its stockholders or any of their respective Affiliates to
regulation under the Investment Advisers Act of 1940, as amended; 
 (iii)    if such Transfer would
result in a violation of any applicable Law; 
 (iv)    if such Transfer would require the Company or any
of its Subsidiaries to obtain any licensing or regulatory consent other than any such license or regulatory consent that is immaterial or ministerial in nature or that is a condition to the Transfer; 

(v)    if such Transfer would reasonably be expected to have an adverse regulatory impact (other than an
immaterial impact) on the Company or its Subsidiaries; or 
 (vi)    if such Transfer is made to any
Person who lacks the legal right, power or capacity to own such Shares. 
 (b)    Except as otherwise provided in
Section 3.5, the Stockholders effecting any Transfer of Shares permitted hereunder shall pay all reasonable costs and expenses, including attorneys’ fees and disbursements, incurred by the Company in connection with the Transfer on a
pro rata basis in proportion to the number of Shares so transferred by each such Stockholder. 

  
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 Section 3.7.    Preemptive Rights. 

(a)    Prior to an Initial Public Offering, if the Company wishes to issue additional equity securities of the Company
(including securities exercisable for or convertible into equity securities) or any Subsidiary of the Company wishes to issue additional equity securities of such Subsidiary (including securities exercisable for or convertible into equity
securities) to any Person (including the KKR Stockholders or the Walgreens Stockholders) other than the Company or a wholly owned Subsidiary of the Company, the Board shall consider the terms and conditions of such proposed issuance and thereafter
the Company shall deliver to each Stockholder (each, a “Participating Stockholder”, or, collectively, the “Participating Stockholders”) a written notice of such proposed issuance (an “Issuance
Notice”) at least twenty (20) Business Days prior to the date of the proposed issuance (the period from the effectiveness pursuant to Section 5.6 of such Issuance Notice until the expiration of such twenty (20) Business Day
period, the “Subscription Period”). Each Issuance Notice shall include, to the extent applicable, (i) the identity of the issuer, (ii) the amount, kind and terms of the equity securities to be included in the issuance,
(iii) the price of the equity securities to be included in the issuance and (iv) the proposed issuance date, if known. 

(b)    Each Participating Stockholder shall have the option, exercisable at any time during first fifteen
(15) Business Days of the Subscription Period by delivering an irrevocable written notice to the Company (except as otherwise provided in this Section 3.7) and on the same terms as those of the proposed issuance of such additional equity
securities (including the number or amount, as applicable, of equity securities issuable upon exercise or conversion of any security), to irrevocably subscribe for such number or amount, as applicable, of equity securities up to an amount equal to
the product of (i) the number or amount of any such additional equity securities (including securities exercisable for or convertible into equity securities) to be offered and (ii) a fraction the numerator of which is the number of Shares
owned by such Stockholder and the denominator of which is the total number of Shares owned by all of the Stockholders (the “Preemptive Percentage”); provided that each Stockholder’s Preemptive Percentage shall be
reduced, ratably among all Stockholders, if any Person (who is not a Stockholder) has a contractual preemption right with respect to such issuance that is exercisable together with the preemption right granted to the Stockholders herein;
provided, further, that if such Person waives or otherwise does not exercise its preemption right in connection with an issuance, the Company may (but shall not be obligated to) extend such preemption right ratably to the Stockholders
hereunder. Each Participating Stockholder who does not exercise such option in accordance with the above requirements shall be deemed to have waived all of such Participating Stockholder’s rights with respect to such issuance. In the event that
any Participating Stockholder does not elect to purchase its aggregate Preemptive Percentage of the additional equity securities (including securities exercisable for or convertible into equity securities), the Company shall deliver to each
Participating Stockholder (other than any declining Participating Stockholders or any Participating Stockholder who elects to purchase less than the full amount offered to it (collectively, the “Declining Stockholders”)) a written
notice thereof not later than the seventeenth (17th) Business Day of the Subscription Period, including the number or amount, as applicable, of equity securities which were subject to the purchase
right of the Declining Stockholder(s) and which were not elected to be purchased by such Declining Stockholder(s), and each other Participating Stockholder may subscribe for not more than its Preemptive Percentage (but calculated using the
Preemptive Percentage of such Stockholder relative to all other Participating Stockholders who are not Declining Stockholders) of such declined equity securities by delivering an irrevocable written notice to the Company before the expiration of the
Subscription Period. Any Stockholder that has elected to purchase the entire amount offered to it pursuant to this Section 3.7(b) may propose to the Board and the other Stockholder to change the terms and conditions of the proposed issuance of
such additional equity securities (for example, it may propose that such issuance will be in the form of debt instead of equity) but any such changed terms and conditions will be subject to the requisite approval of the Board in accordance with
Section 2.4(a). 
 (c)    If at the end of the 180th day after the date of the effectiveness of the notice
contemplated by Section 3.7(a) (as such period may be extended to obtain any required regulatory approvals), the Company or its Subsidiary, as applicable, has not completed the issuance, each Participating Stockholder shall be released from
such Participating Stockholder’s obligations under the written commitment, the notice shall be null and void, and it shall be necessary for a separate notice to be furnished, and the terms and provisions of this Section 3.7 separately
complied with, in order to consummate such issuance. 

  
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 (d)    Each Participating Stockholder shall take or cause to be taken
all such reasonable actions as may be necessary or reasonably desirable in order expeditiously to consummate each issuance pursuant to this Section 3.7. 

(e)    Notwithstanding the requirements of this Section 3.7, the Company or its Subsidiary, as applicable, may
proceed with any issuance that would otherwise be subject to this Section 3.7 prior to having complied with the provisions of this Section 3.7; provided that the Company or its Subsidiary, as applicable, shall: 

(i)    provide to each Stockholder in connection with such issuance (A) prompt notice of such issuance
(which notice, in any event, shall be provided not later than ten (10) Business Days after such issuance) and (B) the notice described in Section 3.7(a) in which the actual price of the equity securities shall be set forth; 

(ii)    within a reasonable period of time following such notice, offer to issue (or have Transferred) to
each Stockholder such number or amount of securities of the type issued in the issuance as may be requested by such Stockholder (not to exceed the number or amount of such securities which is sufficient to give such Stockholder the same fractional
interest in the Company, and/or indirect interest in the Company’s Subsidiaries, giving effect to such issuance and any further issuances pursuant to this Section 3.7(e), as it would have had if the Company had served a notice pursuant to,
and such Stockholder had exercised its rights in full under, Sections 3.7(a) and 3.7(b) prior to the issuance) on the same economic terms and conditions with respect to such securities as the subscribers in the issuance received; and 

(iii)    keep such offer open for a period of twenty (20) Business Days, during which period, each
such Stockholder may accept such offer by sending an irrevocable written acceptance to the Company or its Subsidiary, as applicable, committing to purchase in accordance with the procedures set forth in Section 3.7(b), an amount of such
securities (not to exceed the amount specified in the offer made pursuant to Section 3.7(e)(ii)). 
 (f)    The
provisions of this Section 3.7 shall not apply to issuances by the Company or any Subsidiary of the Company as follows: 

(i)    Subject to the provisos at the end of the first sentence of Section 3.7(b), any issuance of
securities pursuant to any third party contractual right outstanding on the Closing Date or created after the Closing Date in a transaction that complied with the provisions of this Agreement; 

(ii)    any issuance of securities pursuant to the Initial Management Equity Program or any other
Management Equity Program adopted in accordance with the provisions of this Agreement; 
 (iii)    any
issuance of securities: (A) in any direct or indirect business combination or acquisition transaction involving the Company or any of its Subsidiaries, (B) in connection with any joint venture or partnership or (C) to financial
institutions, commercial lenders or other debt investors, broker/finders or any similar party, or their respective designees in connection with the incurrence or guarantee of indebtedness by the Company or any of its Subsidiaries; 

(iv)    the issuance of Shares (of any class) to the Stockholders or otherwise, in each case, in connection
with the Closing; any issuance of securities in connection with any stock split, stock dividend paid on a proportionate basis to all holders of the affected class of equity interest or recapitalization approved by the governing body of the entity
making such issuance; or 
 (v)    any issuance of securities in an Initial Public Offering. 

  
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 Section 3.8.    Appraisal Related Capital Contributions.

 (a)    Neither the Walgreens Stockholders nor the KKR Stockholders will have any obligation to make any capital
commitments or capital contributions to the Company or its Subsidiaries following the Closing except as expressly required pursuant to this Section 3.8. 

(b)    If the Board determines from time to time that the Company or PharMerica requires additional equity capital in
order to satisfy any post-Closing payment obligations to pre-Closing holders of PharMerica stock that have exercised appraisal rights, whether such payment obligations are for the payment of the Merger Consideration (as defined in the Merger
Agreement) if any such stockholders withdraw or fail to perfect their appraisal claim, for payment of a settlement of any appraisal claim, or for payment of a court-determined appraisal award (an “Appraisal-Related Additional Capital
Contribution”), the Company shall deliver an Issuance Notice to the KKR Stockholders and the Walgreens Stockholders and promptly thereafter the Walgreens Stockholders and the KKR Stockholders shall fund their pro rata share (based on the
Shares then owned by the Walgreens Stockholders and the KKR Stockholders, respectively) of such Appraisal-Related Additional Capital Contribution to the Company in an amount not to exceed $125 million in aggregate for all such Appraisal-Related
Additional Capital Contributions (the “Appraisal-Related Additional Capital Contribution Cap”). If a Stockholder fails to fund such pro rata share of any such Appraisal-Related Additional Capital Contribution, any Stockholder that
has fully funded its pro rata share may propose to the Board and the other Stockholder to change the terms and conditions of the proposed Appraisal-Related Additional Capital Contribution (for example, it may propose that such funding will be in the
form of debt instead of equity) but any such changed terms and conditions will be subject to the requisite approval of the Board in accordance with Section 2.4(a). 

Section 3.9.    Specific Performance. In furtherance of and not in limitation of Section 5.10, each of
the parties to this Agreement acknowledges that it shall be impossible to measure in money damages to the Company or the Stockholder(s), if any of them or any transferee or any legal representative of any party hereto fails to comply with any of the
restrictions or obligations imposed by this Article III, that every such restriction or obligation is material, and that in the event of any such failure, neither the Company nor the Stockholder(s) shall have an adequate remedy at law or in damages.
Therefore, each party hereto consents to the issuance of an injunction or the enforcement of other equitable remedies against it at the suit of an aggrieved party without the posting of any bond or other equity security, to compel specific
performance of all of the terms of this Article III and to prevent any Transfer of Shares in contravention of any terms of this Article III, and waives, any defenses thereto, including the defenses of: (i) failure of consideration;
(ii) breach of any other provision of this Agreement and (iii) availability of relief in damages. 
 ARTICLE IV  

OTHER COVENANTS 

Section 4.1.    Further Assurances. In connection with this Agreement and the transactions contemplated
hereby, the Company and each Stockholder shall execute and deliver all such future instruments and take such other and further action as may be reasonably necessary or appropriate to carry out the provisions of this Agreement and the intention of
the parties as expressed herein; provided that any such instrument or action does not increase a Stockholder’s obligations or have an adverse effect upon such Stockholder’s rights under this Agreement. 

Section 4.2.    Information. 

(a)    The Company will provide, or cause to be provided, to (x) each KKR Stockholder for so long as the KKR
Stockholders Beneficially Own at least 5% of the total outstanding Shares and (y) each Walgreens Stockholder for so long as the Walgreens Stockholders Beneficially Own at least 5% of the total outstanding Shares and, in each case, until the
completion of an Initial Public Offering: 
 (i)    reasonable access to the properties, books and
records, personnel and advisors (including outside auditors) of the Company and its Subsidiaries, at reasonable hours and upon reasonable advance notice; provided that such access is also granted to each of the KKR Stockholders’ and the
Walgreens Stockholders’ respective advisors (including attorneys and accountants); 

  
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 (ii)    as soon as reasonably available after the end of
each fiscal month of each fiscal quarter (other than such fiscal month that ends on the same day as the end of such fiscal quarter), an internally- generated consolidated balance sheet of the Company and its Subsidiaries as of the end of each such
month and the related consolidated statements of income and cash flows of the Company and its Subsidiaries for such month and for the then elapsed portion of the fiscal year; and 

(iii)    (A) as soon as reasonably available after the end of the applicable fiscal period, annual audited
financial statements of the Company and its Subsidiaries, and quarterly unaudited financial statements of the Company and its Subsidiaries and (B) as soon as reasonably practicable, such other financial or operating information regarding the
Company and its Subsidiaries as such Stockholder may reasonably request from time to time, including such information as such Stockholder may in good faith deem necessary or advisable for such Stockholder’s external reporting, if applicable,
including in the case of the Walgreens Stockholder, for its equity method accounting and external reporting thereof. 

(b)    Notwithstanding the foregoing, the Company shall not be required to provide, or be required to cause to be
provided, the information or access set forth in Section 4.2(a) to the extent that such provision or access (i) is determined by the Company in good faith to be unreasonably burdensome to, or unreasonably disruptive to the operations of,
the Company or its Subsidiaries, (ii) would result in the disclosure of any trade secrets or proprietary, privileged or other competitively sensitive information of the Company or its Subsidiaries or (iii) would violate any confidentiality
obligations of the Company or its Subsidiaries or violate any Law (including competition laws or regulations). 

(c)    In furtherance of and not in limitation of any other similar agreement such Stockholder may have with the Company
or its Subsidiaries, each Stockholder agrees that all Confidential Information shall be kept confidential by such Stockholder and shall not be disclosed by such Stockholder in any manner whatsoever; provided, however, that (i) any
of such Confidential Information may be disclosed (A) by a Stockholder to its Affiliates (other than an entity deemed by the Board to be a long-term care pharmacy or specialty infusion competitor of the Company; provided that, in the
case of Walgreens, WBA and its Subsidiaries shall not be prohibited from receiving Confidential Information by virtue of this parenthetical), subject, however, to the provisions of Section 2.7 and their respective directors,
managers, officers, employees and authorized representatives (including, attorneys, accountants, consultants, bankers and financial advisors of such Stockholder or its Affiliates) and each Stockholder or Affiliate of such Stockholder that is a
limited partnership or limited liability company may disclose such Confidential Information to any former direct or indirect partners, members or other equityholders who retained an economic interest in such Stockholder and to any current or
prospective direct or indirect partner, limited partner, member, general partner, equityholder or management company of such Stockholder or Affiliate (or any employee, attorney, accountant, consultant, banker or financial advisor or representative
of any of the foregoing) (collectively, for purposes of this Section 4.2(c) and the definition of “Confidential Information”, “Representatives”) who have a legitimate need to be provided such Confidential Information
in the good faith determination of such disclosing Stockholder and (B) on a confidential basis, by a KKR Stockholder or its Affiliate to their respective Representatives that are current or prospective direct or indirect partners, members or
other equityholders of such KKR Stockholder or Affiliate or are former direct or indirect partners, members or other equityholders who retained an economic interest in such KKR Stockholder or Affiliate to the extent such disclosure is limited to
customary disclosures made in the ordinary course of business by an investment fund to its current, prospective or former investors or equity holders in respect of investments made thereby, including in connection with the disposition thereof;
provided that such KKR Stockholder shall be responsible for any breach of this provision by any such Representative, (ii) any disclosure of Confidential Information may be made by a Stockholder, an Affiliate of such Stockholder or their
respective Representatives to the extent the Company consents in writing, (iii) Confidential Information may be disclosed by a Stockholder to a potential Permitted Transferee (but such Stockholder shall be responsible for any breach of this
provision or such confidentiality agreement by any such Person) or any other transferee to whom such Stockholder is permitted to transfer Shares hereunder, in each case, who shall agree to be bound by the provisions of this Section 4.2(c) or a

  
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confidentiality agreement having restrictions substantially similar to this Section 4.2(c), and (iv) Confidential Information may be disclosed by any Stockholder, any Affiliate of such
Stockholder or their respective Representatives to the extent that such Stockholder, Affiliate or Representative has received advice from its counsel that it is legally compelled to do so or is required to do so to comply with applicable Law or
legal process or government agency or self-regulatory body request; provided that prior to making such disclosure, the Stockholder, Affiliate or Representative, as the case may be, uses commercially reasonable efforts to preserve the
confidentiality of the Confidential Information to the extent permitted by Law, including to the extent practicable and permitted by Law, consulting with the Company regarding such disclosure and, if reasonably requested by the Company, assisting
the Company, at the Company’s expense, in seeking a protective order to prevent the requested disclosure; provided further that the Stockholder, Affiliate or Representative, as the case may be, uses reasonable best efforts to disclose
only that portion of the Confidential Information as is requested by applicable Governmental Authority or as is, based on the advice of its counsel, legally required. Notwithstanding anything to the contrary herein, the confidentiality obligations
of the Stockholders under this Section 4.2(c) shall not apply to the disclosure of the fact that the disclosing Stockholder has an investment in the Company or its Subsidiaries (or their respective successors) in name only (it being understood
that this disclosure shall not include the investment amount, valuation information or any other information related thereto nor shall it include the identity of any other Stockholder, unless such other Stockholder consents); provided that,
for the avoidance of doubt, such information may otherwise be disclosed by the Stockholders to their respective Representatives in accordance with the first sentence of this Section 4.2(c). 

(d)    Each party agrees to cooperate with each other party reasonably and in good faith with respect to the publication
of any press release or public announcement or other communication with any news media in respect of the Acquisition, this Agreement, the Transaction Agreements or the transactions contemplated hereby or thereby. Unless otherwise required by
applicable Law or the rules of any stock exchange or regulatory authority (including a self-regulatory organization), no party hereto may issue any press release or otherwise make any public announcement or comment relating to the Acquisition, this
Agreement, the Transaction Agreements or the transactions contemplated hereby or thereby, without the prior consent of KKR and Walgreens. 

Section 4.3.    Non-Solicit and Non-Compete. 

(a)    In furtherance of the transactions contemplated by the Merger Agreement and this Agreement and the substantial
economic benefit to be conferred upon the parties thereto and hereto, until the expiration of the applicable Restricted Period, each of KKR Americas XII and WBA (each, a “Restricted Person”) shall not (and each of them shall cause
its controlled Affiliates to not), directly or indirectly, recruit, solicit for employment, hire, engage, retain, employ or offer employment to any senior executive or management employee of the Company or any of its Subsidiaries (collectively,
“Covered Persons”), or knowingly encourage or knowingly facilitate any Covered Person to leave employment with the Company or any of its Subsidiaries; provided, that the foregoing shall not be deemed to prohibit the
Restricted Persons or any of their respective controlled Affiliates from engaging in general media advertising or general employment solicitation that is not targeted towards Covered Persons. 

(b)    In furtherance of the transactions contemplated by the Merger Agreement and this Agreement and the substantial
economic benefit to be conferred upon the parties thereto and hereto, until the expiration of the applicable Restricted Period, each Restricted Person shall not (and each of them shall cause its controlled Affiliates to not), (i) engage or be
involved, in any capacity, directly or indirectly in the Restricted Business, (ii) directly or indirectly acquire Beneficial Ownership of any Capital Stock (or any debt securities exercisable or exchangeable for, or convertible into, Capital Stock)
of, or provide any loan or other financial assistance to, any Person that derives 30% or more of its revenue or EBITDA (based on its most recent quarterly financial statements) from operating in the U.S. long term care pharmacy business (such
business, the “Restricted Business”) anywhere in the world; provided that for the avoidance of doubt, WBA’s (and its controlled Affiliates’) retail pharmacies will be permitted to continue to provide
services as a back-up supplier to skilled nursing facilities consistent with practices in effect as of the date of the Original Agreement; provided, further that the Restricted Persons and their respective controlled Affiliates shall not be
prohibited from Beneficially Owning, solely as a passive investment, not in excess of 5% in the aggregate of any Capital Stock of any Person if 

  
 22 

 
such Capital Stock is of the same class of Capital Stock that is listed on any national securities exchange, regardless of whether or not such Person is engaging in the Restricted Business, so
long as such Restricted Person does not otherwise violate the restrictions set forth in this Section 4.3(b). 

(c)    For the avoidance of doubt, none of the covenants in this Section 4.3 will apply to any KKR Portfolio Company
or to any business of Kohlberg Kravis Roberts & Co. L.P. and its Affiliates other than the private equity business of KKR Americas XII, provided that KKR Americas XII will not, directly or indirectly, cause, direct, knowingly
encourage or knowingly facilitate any KKR Portfolio Company to violate the provisions of this Section 4.3. 

(d)    Each of the parties acknowledges that the restrictions contained in this Section 4.3 are reasonable and
necessary to protect the legitimate interests of the Company and its Subsidiaries and constitute a material inducement to the Company to enter into this Agreement and consummate the transactions contemplated by this Agreement. It is the intent of
the parties that the provisions of this Section 4.3 shall be fully enforced to the fullest extent permissible under applicable Law and public policies applied in each jurisdiction in which enforcement is sought. If any particular provision or
portion of this Section 4.3 shall be adjudicated to be invalid or unenforceable, such provision or portion thereof shall be deemed amended to the minimum extent necessary to render such provision or portion valid and enforceable, such amendment
to apply only with respect to the operation of such provision or portion in the particular jurisdiction in which such adjudication is made. 

(e)    The provisions of this Section 4.3 shall terminate upon a Company Sale. 

Section 4.4.     Term Debt. 

(a)    KKR Americas XII and WBA acknowledge that (i) pursuant to the senior credit facilities of PharMerica entered
into at the Closing (together with any additional or replacement credit facilities entered into by PharMerica or its Subsidiaries after the Closing in accordance with the terms of this Agreement, the “Senior Credit
Facility”), KKR Americas XII and WBA, collectively, are subject to a limit on purchases of the term loans thereunder (the “Term Debt”) of 30% of the total outstanding Term Debt (such limitation, together with any analogous
limitation under any documentation governing any Senior Credit Facility entered into after the Closing, the “Term Debt Limit”), and that KKR Capital Markets LLC and other debt funds managed or advised by Kohlberg Kravis
Roberts & Co. L.P. or any of its Affiliates (collectively, “KKR Debt Fund Affiliates”, which, for the avoidance of doubt, shall not be deemed to include any KKR Portfolio Company) are not subject to this limitation under
the terms of the Senior Credit Facility, and (ii) pursuant to Kohlberg Kravis Roberts & Co. L.P.’s internal investment policy, KKR Debt Fund Affiliates, collectively, are subject to a limit on purchases of the Term Debt of 20% of
the total outstanding Term Debt. KKR Americas XII and WBA are hereby agreeing to certain principles with respect to the acquisition of Term Debt by them and their Subsidiaries or certain of their Affiliates so that, to the extent any such parties
purchase any Term Debt, KKR Americas XII (together with the KKR Debt Fund Affiliates), on the one hand, and the Walgreens Stockholder and its Subsidiaries, on the other hand, are able to acquire such Term Debt pro rata to their respective then
Beneficial Ownership of Shares by the KKR Stockholders and the Walgreens Stockholders (the “Pro Rata Equity Holding”) while complying with the Term Debt Limit, as follows: 

(i)    if either KKR Americas XII or WBA (or their respective Subsidiaries) wishes to purchase any Term
Debt pursuant to the Senior Credit Facility (and none of the KKR Debt Fund Affiliates has previously purchased any Term Debt), the other shall be notified prior to such investment and given the opportunity to participate up to its Pro Rata Equity
Holding on such date, but such combined purchases of Term Debt by KKR Americas XII and WBA (or their respective Subsidiaries) shall not exceed the Term Debt Limit; 

(ii)     if any KKR Debt Fund Affiliate wishes to purchase any Term Debt pursuant to the Senior Credit
Facility (and neither KKR Americas XII nor WBA (or their respective Subsidiaries) has previously purchased any Term Debt), it may purchase up to 20% of the total outstanding Term Debt, and WBA shall be notified following such investment and WBA (or
any of its Subsidiaries) may purchase Term 

  
 23 

 
Debt in an amount equal to (x) its Pro Rata Equity Holding at such time multiplied by (y) the sum of the percentage of the total outstanding Term Debt purchased by KKR Debt Fund
Affiliates plus 30% (i.e., such that, assuming the Pro Rata Equity Holding of each of KKR Americas XII and WBA on the date hereof, if KKR Debt Fund Affiliates purchase 20% of the total outstanding Term Debt, WBA (and its Subsidiaries) may purchase
up to 15% of the total outstanding Term Debt); 
 (iii)    if either (x) KKR Americas XII and/or WBA
(or their respective Subsidiaries) has purchased Term Debt (but collectively less than the Term Debt Limit) and then any KKR Debt Fund Affiliate wishes to purchase Term Debt or (y) KKR Debt Fund Affiliates have purchased Term Debt (up to 20% of
the total outstanding Term Debt) and then KKR Americas XII and/or WBA (or their respective Subsidiaries) wishes to purchase Term Debt, the party (or parties) that wish to purchase Term Debt will notify the other parties and the parties will
coordinate with respect to the next purchase(s) of Term Debt to ensure that WBA (and its Subsidiaries) will be able to purchase (at that time or going forward) Term Debt up to its Pro Rata Equity Holding at such time of the aggregate amount of the
Term Debt purchased (or to be purchased) by KKR Americas XII, the KKR Debt Fund Affiliates and WBA (and its Subsidiaries) in compliance with the Term Debt Limit, it being understood that, in order to achieve such outcome KKR Debt Fund Affiliates may
be required to suspend or cease further purchases of Term Debt; 
 (iv)    if (x) the Term Debt
Limit has been reached and (y) WBA (and its Affiliates) has not previously been afforded the opportunity to purchase Term Debt up to its Pro Rata Equity Holding, then KKR Americas XII (and/or the KKR Debt Fund Affiliates) that have purchased
Term Debt shall promptly sell, in one or more transactions (and to one or more parties that are not WBA or its Affiliates), an amount of Term Debt such that if WBA (or its Affiliates) were to purchase the same amount of Term Debt, WBA and its
Affiliates would own its Pro Rata Equity Holding of the Term Debt; 
 (v)    if (x) the Term Debt
Limit has been reached and (y) KKR Americas XII (together with the KKR Debt Fund Affiliates) have not previously been afforded the opportunity to purchase Term Debt up to their Pro Rata Equity Holding, then WBA and/or its Affiliates that have
purchased Term Debt shall promptly sell, in one or more transactions (and to one or more parties that are not KKR Debt Fund Affiliates or KKR Americas XII or their respective Affiliates), an amount of Term Debt such that if KKR Americas XII (or the
KKR Debt Fund Affiliates) were to purchase the same amount of Term Debt they would own their Pro Rata Equity Holding of the Term Debt; and 

(vi)    for the avoidance of doubt, subject to compliance with the Term Debt Limit and the foregoing
principles, neither KKR Americas XII nor WBA (nor any of their respective Affiliates or Subsidiaries) shall have a blocking right if it chooses not to participate in any such investment in Term Debt. 

(b)    For the avoidance of doubt, none of the covenants in this Section 4.4 will apply to any KKR Portfolio Company
or to any business of Kohlberg Kravis Roberts & Co. L.P. and its Affiliates other than the KKR Debt Fund Affiliates and private equity business of KKR Americas XII and; provided that KKR Americas XII will not, directly or indirectly,
cause, direct, knowingly encourage or knowingly facilitate any KKR Portfolio Company to violate the provisions of this Section 4.4. 
  

	 	(c)    The	 provisions of this Section 4.4 shall terminate upon the completion of an Initial Public Offering.

 Section 4.5.    Additional Synergies. KKR and Walgreens will work in good faith with
the Company and its Subsidiaries to realize synergy opportunities (in addition to the synergies with respect to drug purchasing under the ABDC Prime Vendor Agreement or pursuant to the WBAD Membership Agreement). Any services other than drug
purchasing under the ABDC Prime Vendor Agreement or WBAD Membership Agreement provided by Walgreens (or its Affiliates) to the Company or its Subsidiaries will be priced based on transfer pricing of Walgreen’s (or its Affiliates’) marginal
cost plus 10%. 

  
 24 

 Section 4.6.    Standstill. In furtherance of the
transactions contemplated by the Merger Agreement and this Agreement and the substantial economic benefit to be conferred upon the parties thereto and hereto, during the period commencing on the date of an Initial Public Offering and terminating on
the earliest to occur of (i) the date that is the third anniversary of the date of the Initial Public Offering and (ii) the date that the KKR Stockholders collectively cease to hold any Shares, WBA shall not (and shall cause its controlled
Affiliates to not), directly or indirectly: (i) acquire or agree, offer, seek or propose to acquire, or cause to be acquired, ownership (including, but not limited to, any voting right or beneficial ownership as defined in Rule 13d-3 under the
Exchange Act)) of any voting securities of the IPO Corporation or any option, forward contract, swap or other position with a value derived from voting securities of the IPO Corporation (other than any broad index-based derivative that is not
related to the value of any such securities of the IPO Corporation) or conveying the right to acquire or vote securities of the IPO Corporation, or any ownership of any of the assets or businesses of the IPO Corporation, or any rights or options to
acquire any such ownership (including from a third party); (ii) make, or in any way participate in, any “solicitation” (as such term is used in the Exchange Act) to vote or seek to advise or influence in any manner whatsoever any Person
with respect to the voting of any securities of the IPO Corporation; (iii) form, join, or in any way communicate or associate with other security-holders or participate in a “group” (within the meaning of Section 13(d)(3) of the
Exchange Act) with respect to the IPO Corporation or any voting securities of the IPO Corporation; (iv) arrange, or in any way participate in, any financing for the purchase of any voting securities or securities convertible or exchangeable
into or exercisable for any voting securities or assets of the IPO Corporation; (v) otherwise act, whether alone or with others, to seek to propose to the IPO Corporation or any of its stockholders any merger, business combination, tender or
exchange offer, restructuring, recapitalization, liquidation of or other transaction with or involving the IPO Corporation or otherwise act, whether alone or with others, to seek to control, change or influence the management, board of directors or
policies of the IPO Corporation, or nominate any person as a director of the IPO Corporation (except in accordance with its rights under this Agreement), or propose any matter to be voted upon by the stockholders of the IPO Corporation;
(vi) solicit, negotiate with, or provide any information to, any Person (other than its permitted Representatives) with respect to a merger, business combination, tender or exchange offer, restructuring, recapitalization, liquidation of or
other transaction with or involving the IPO Corporation or any other acquisition of the IPO Corporation, any acquisition of voting securities of or all or any portion of the assets of the IPO Corporation, or any other similar transaction;
(vii) advise, assist or encourage any other Person in connection with any of the foregoing; (viii) take any action which is reasonably likely to cause or require WBA (or its Affiliates) or the IPO Corporation to make a public announcement
regarding any of the types of matters set forth in this Section 4.6; (ix) disclose any intention, plan or arrangement inconsistent with the foregoing; or (x) request that the IPO Corporation to amend or waive any provision of this
Section 4.6 (including this clause (x)). 
 Section 4.7.    Prime Vendor Agreement. 

(a)    Walgreens will not amend, modify or waive the ABDC Prime Vendor Agreement in a manner that adversely and
disproportionately impacts PharMerica or its Subsidiaries as compared to Walgreens and/or the other “affiliates” (as defined therein) (an “Adverse PVA Amendment”) without the prior written consent of the Company;
provided, however, that in the event that Walgreens elects, in its sole discretion, to effect an Adverse PVA Amendment without the prior written consent of the Company, Walgreens shall indemnify PharMerica and its Subsidiaries for any
losses incurred by any of them arising solely from the adverse and disproportionate impact of such Adverse PVA Amendment on PharMerica and its Subsidiaries, up to $50,000,000 in the aggregate (the “Annual Indemnification Cap”) for
each calendar year; provided PharMerica and its Subsidiaries shall not be entitled to such indemnification for losses incurred following September 30, 2026. 

(b)    In the event the ABDC Prime Vendor Agreement is terminated (i) by Walgreens, including as a result of a Change
of Control (as defined in the Underlying ABDC Prime Vendor Agreement) of ABDC (but excluding a termination as set forth in Section 4.7(c)), (ii) by mutual agreement of ABDC and Walgreens, (iii) by ABDC, in accordance with its terms, as a
result of a Change of Control (as defined in the Underlying ABDC Prime Vendor Agreement) of Walgreens or (iv) by ABDC, in accordance with its terms, as a result of Walgreens’ uncured default under the ABDC Prime Vendor Agreement, Walgreens
shall in each case use its commercially reasonable efforts to ensure that PharMerica and its Subsidiaries are treated as affiliates of Walgreens under (or otherwise are entitled to purchase pharmaceuticals and other products on the terms set forth
in or pursuant to) any new or replacement prime vendor agreement or any similar agreement or any other arrangement serving as the 

  
 25 

 
principle arrangement for the purchasing of pharmaceuticals and other products by Walgreens or any of its Affiliates (an “Alternative Purchasing Arrangement” and any such
Alternative Purchasing Arrangement under which PharMerica and its Subsidiaries are treated as affiliates of Walgreens or otherwise are entitled to purchase pharmaceuticals and other products, an “Affiliated Purchasing Arrangement”);
provided, however, that if following a termination of the ABDC Prime Vendor Agreement as set forth in this Section 4.7(b), Walgreens or any of its Affiliates enters into an Alternative Purchasing Arrangement that is not an
Affiliated Purchasing Arrangement (an “Adverse PVA Termination”), Walgreens shall indemnify PharMerica and its Subsidiaries for any losses incurred by them arising from (i) an Adverse PVA Termination or (ii) a termination
of the WBAD Membership Agreement, dated as of June 27, 2018, by and among Walgreens Boots Alliance Development GmbH (“WBAD”) and PharMerica (as may be amended from time to time, the “WBAD Membership Agreement”)
pursuant to (x) Section 4.C.(ii) thereof, (y) Section 4.C.(iii) thereof if (A) the underlying grounds for such termination arises directly from an affirmative action taken by WBAD or its Affiliates after the date hereof
(including allowing additional parties to become members of the WBAD GPO) or (B) following such termination, the activities conducted by the WBAD GPO are no longer in violation of applicable antitrust Law and Walgreens Boots Alliance, Inc. (or
any Affiliate thereto) remains as a member of the WBAD GPO, or (z) Section 4.B(i)(c) thereof if the basis for such termination would result in a right to indemnification under the immediately preceding clauses (x) or (y), in each of
cases (x), (y) and (z) other than as a result of any action taken by PharMerica or its Subsidiaries (each, an “Adverse WBAD Termination”) up to the Annual Indemnification Cap for each calendar year; provided PharMerica
and its Subsidiaries shall not be entitled to such indemnification for losses incurred following September 30, 2026, and provided, further, that all indemnifiable losses under this Section 4.7, shall be calculated on a quarterly
basis by a mutually agreed upon internationally-recognized accounting firm, jointly selected and retained by PharMerica and Walgreens (the “Expert Auditor”) by reference to the then-current pharmaceutical pricing applicable to
PharMerica, on the one hand, and to Walgreens, on the other hand (which the parties acknowledge may vary from time to time) at the times that such losses are incurred; provided, further, that each of PharMerica and Walgreens shall
cooperate reasonably with, and provide reasonable access to its books, records and accounts to, such Expert Auditor solely for the purpose of calculating such losses. Notwithstanding anything to the contrary contained in this Agreement, PharMerica
and its Subsidiaries shall use commercially reasonable efforts to mitigate or otherwise reduce the amount of any indemnifiable losses that it may incur under this Section 4.7. For the avoidance of doubt, in no event shall Walgreens be required
to take any efforts to enter into an Affiliated Purchasing Arrangement if the ABDC Prime Vendor Agreement is terminated by Walgreens or ABDC, in accordance with its terms, as a result of a Change of Control (as such term is defined in the Eighth
Amendment to the ABDC Prime Vendor Agreement) of PharMerica that is not a Change of Control (as defined in the Underlying Prime Vendor Agreement) of Walgreens. 

(c)    In the event that (i) the ABDC Prime Vendor Agreement is terminated by Walgreens, in accordance with its
terms, as a result of ABDC’s uncured breach of the ABDC Prime Vendor Agreement; or (ii) ABDC terminates the ABDC Prime Vendor Agreement, or ceases to otherwise perform under its terms, in connection with a claim of default by Walgreens
under the ABDC Primer Vendor Agreement, that is disputed and contested by Walgreens, Walgreens shall in each case use reasonable best efforts to ensure that any new or replacement prime vendor agreement that Walgreens enters into following clause
(i) or (ii) is an Affiliated Purchasing Arrangement. 
 (d)    Walgreens shall promptly notify the Company and
PharMerica in the event of an Adverse PVA Amendment or an Adverse PVA Termination, and if a claim shall arise for indemnification under this Section 4.7, PharMerica shall promptly provide Walgreens with PharMerica management’s good faith
estimate of the amount of documented losses actually suffered by PharMerica and its Subsidiaries from any such Adverse PVA Amendment or any such Adverse PVA Termination or from any Adverse WBAD Termination (such amount, the “Indemnification
Amount”). Following delivery of any claim by PharMerica, Walgreens and PharMerica shall be given such access (including electronic access, to the extent available) as they may reasonably require to the books and records of the other party,
in addition to the rights provided to Walgreens under Section 4.2, and access to such personnel or representatives of the other party (during normal business hours) as PharMerica or Walgreens may reasonably require for the purposes of
confirming the Indemnification Amount. 

  
 26 

 (e)    Walgreens shall have sixty (60) days from the date of such
notice to object to the Indemnification Amount by delivery of a written notice of such objection, specifying in reasonable detail the basis of such objection. Failure to timely so object shall constitute a final and binding acceptance of the
Indemnification Amount. If an objection is timely delivered to PharMerica, then PharMerica and Walgreens shall negotiate in good faith for a period of sixty (60) days from the date PharMerica receives the objection notice (such period, the
“Negotiation Period”). After the Negotiation Period, if Walgreens and PharMerica cannot agree on the Indemnification Amount, then either party may seek the appropriate legal remedy, including equitable or injunctive relief in a
court of equity, with respect to such dispute. 
 (f)    With respect to the obligations of PharMerica or any of its
Subsidiaries under the ABDC Prime Vendor Agreement, if Walgreens incurs any penalties or is required to make any other payments as a result of the failure by PharMerica or its Subsidiaries to pay any amounts due thereunder, then PharMerica or the
Company shall reimburse Walgreens in full for any such payment made by Walgreens on PharMerica’s or its Subsidiaries’ behalf. 

(g)    Notwithstanding anything to the contrary herein, all of Walgreens’ obligations herein with respect to the ABDC
Prime Vendor Agreement, including this Section 4.7, shall terminate upon the earlier to occur of (i) the execution of a separate agreement between PharMerica or any of its Subsidiaries and ABDC for the purchase of pharmaceuticals and other
products directly from ABDC, or (ii) September 30, 2026. Following the date of the Original Agreement, Walgreens shall work in good faith with the Company, PharMerica and the KKR Stockholder to enable PharMerica to enter into its own purchasing
agreement with ABDC on at least as favorable terms to PharMerica as the ABDC Prime Vendor Agreement, provided that, whether PharMerica enters into any such proposed purchasing agreement or continues to purchase pharmaceuticals and other products
under the ABDC Prime Vendor Agreement shall be decided by the Board in its sole discretion. 
 ARTICLE V  

MISCELLANEOUS 

Section 5.1.    Termination. This Agreement shall terminate only (i) by written consent of both KKR and
Walgreens or (ii) upon the date of consummation of a Company Sale. Termination of this Agreement shall not relieve any party for the breach of any obligations under this Agreement prior to such termination. Notwithstanding any such termination
of this Agreement, Section 2.1(d)(i), Section 3.5(d), Section 3.5(e), Section 3.6(b) and this Article V shall survive any termination of this Agreement. 

Section 5.2.    Indemnification. The Company hereby acknowledges and agrees that each Stockholder and certain
Affiliates of each Stockholder and their respective directors, officers, managers, partners, members, employees, agents, advisors, consultants, representatives and controlling Persons are entitled to indemnification in accordance with, and pursuant
to the terms of, the Indemnification Agreement. 
 Section 5.3.    Amendments and Waivers. Except as
otherwise provided herein, this Agreement may not be amended except by an instrument in writing signed by each of the Company, the KKR Stockholders and the Walgreens Stockholders; provided that KKR Americas XII shall have the right to consent
to any amendment or waiver of any of the KKR Americas Specified Provisions; provided, further, that WBA shall have the right to consent to any amendment or waiver of any of the WBA Specified Provisions; provided, further,
that any party may waive (in writing) the benefit of any provision of this Agreement with respect to itself for any purpose. Prompt written notice of any amendment to this Agreement shall be given to all Stockholders and, if such amendment pertains
to any of the KKR Americas Specified Provisions, to KKR Americas XII and, if such amendment pertains to any of the WBA Specified Provisions, to WBA. No waiver of any breach of any of the terms of this Agreement shall be effective unless such waiver
is expressly in writing and executed and delivered by the party against whom such waiver is claimed. A waiver or consent, express or implied, to or of any breach or default by any Person in the performance by that Person of its obligations with
respect to this Agreement is not a consent or waiver to or of any other breach or default in the performance by that Person of the same or any other obligations of that Person with respect to this Agreement. Failure on the part of a Person to
complain of any act 

  
 27 

 
of any Person or to declare any Person in default, irrespective of how long that failure continues, does not constitute a waiver by that Person of its rights with respect to that default until
the applicable statute-of-limitations period has run. 
 Section 5.4.    Successors, Assigns and
Transferees. Subject to the restrictions on Transfers set forth in this Agreement, this Agreement shall be binding upon and inure to the benefit of and be enforceable by the parties hereto and their respective successors and permitted assigns
and; and by their signatures hereto, each party intends to and does hereby become bound. The rights and obligations of the parties shall not be assigned without the prior written consent of KKR and Walgreens. Any assignment of rights or obligations
in violation of this Section 5.4 shall be null and void. Nothing expressed or mentioned in this Agreement is intended or shall be construed to give any Person any legal or equitable right, remedy or claim under, in or in respect of this Agreement or
any provision herein contained other than the parties hereto and their respective permitted successors and assigns. 

Section 5.5.    Legend. 

(a)    Unless and until the Board shall determine otherwise, all Shares shall be uncertificated and recorded in the books
and records of the Company. If at any time the Board shall determine to certificate Shares, such certificates shall bear a legend on the face thereof in the following form: 

(i)    THE SECURITIES REPRESENTED BY THIS CERTIFICATE WERE ISSUED IN A TRANSACTION THAT WAS NOT REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR UNDER THE SECURITIES LAWS OF ANY STATE AND MAY NOT BE TRANSFERRED, SOLD OR OTHERWISE DISPOSED OF EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT OR PURSUANT TO AN EXEMPTION FROM REGISTRATION
UNDER SAID ACT AND APPLICABLE STATE SECURITIES LAWS. 
 (ii)    THE SECURITIES REPRESENTED BY THIS
CERTIFICATE ARE SUBJECT TO THE TERMS AND CONDITIONS SET FORTH IN A STOCKHOLDERS’ AGREEMENT, DATED AS OF DECEMBER 7, 2017, AS AMENDED FROM TIME TO TIME, COPIES OF WHICH MAY BE OBTAINED FROM THE ISSUER WITHOUT CHARGE UPON REQUEST. NO TRANSFER OF
SUCH SECURITIES WILL BE MADE ON THE BOOKS OF THE ISSUER UNLESS ACCOMPANIED BY EVIDENCE OF COMPLIANCE WITH THE TERMS OF SUCH AGREEMENT. 

(b)     Upon the sale of any Shares pursuant to (i) an effective registration statement under the Securities Act or
pursuant to Rule 144 under the Securities Act in compliance with this Agreement or (ii) another exemption from registration under the Securities Act, the certificates representing such Shares, if any, shall be replaced, at the expense of the
Company, with certificates or instruments not bearing the legends required by this Section 5.5; provided that the Company may condition such replacement of certificates under clause (ii) upon the receipt of an opinion of securities
counsel reasonably satisfactory to the Company. 
 Section 5.6.    Notices. 

(a)    Except as expressly set forth to the contrary in this Agreement, all notices, requests or consents provided for or
required to be given hereunder shall be in writing and shall be deemed to be duly given if personally delivered, sent via facsimile and confirmed, or mailed by certified mail, return receipt requested, or sent by nationally recognized overnight
delivery service with proof of receipt maintained, at the following addresses (or any other address that any such party may designate by written notice to the other parties): 

if to the Company, to: 
 c/o
Phoenix Parent Holdings Inc. 
 2800 Sand Hill Road, Suite 200 

Menlo Park, California 94025 

Attention: Jim Momtazee 

Facsimile: 

  
 28 

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

Simpson Thacher & Bartlett LLP 

425 Lexington Avenue 
 New York,
New York 10017 
 Attn: Mark D. Pflug 

Email: 
 Facsimile: 

if to the KKR Stockholders (or any of them) or KKR Americas XII, to: 

c/o Kohlberg Kravis Roberts & Co. L.P. 

9 W. 57th Street, Suite 4200 
 New
York, New York 10019 
 Attention: David J. Sorkin 

Facsimile: 
 with a copy (which
shall not constitute notice) to: 
 Simpson Thacher & Bartlett LLP 

425 Lexington Avenue 
 New York,
New York 10017 
 Attn: Mark D. Pflug 

Email: 
 Facsimile: 

if to the Walgreens Stockholders (or any of them) or WBA, to: 

Walgreen Co. 
 104 Wilmot Road,
MS#10438 
 Deerfield, IL 60015 

Attn: Roger Phillips, Vice President, M&A 

Joseph H. Greenberg, Vice President, Global M&A-Legal 

Email: 
 with a copy (which shall
not constitute notice) to: 
 Weil, Gotshal & Manges LLP 

767 5th Avenue 
 New York, New
York 10153 
 Attn: Michael J. Aiello 

Email: 
 Facsimile: 

and, if to any Stockholder who becomes a party to this Agreement after the date of the Original Agreement, to the address and facsimile number
set forth below its name on the signature page hereto or on the applicable Joinder Agreement. 
 (b)    Any such notice
shall, if delivered personally, 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; shall, if delivered by facsimile, be deemed received on the first Business
Day following confirmation; shall, if delivered by nationally recognized overnight delivery service, be deemed received the first Business Day after being sent; and shall, if delivered by mail, be deemed received upon the earlier of actual receipt
thereof or five (5) Business Days after the date of deposit in the mail. 

  
 29 

 (c)     To the extent permitted by Law, whenever any notice is required
to be given by Law or this Agreement, a written waiver thereof, signed by the Person entitled to notice, whether before or after the time stated therein, shall be deemed equivalent to the giving of such notice. 

Section 5.7.    Entire Agreement. Except as otherwise expressly set forth herein, this Agreement, together
with the Transaction Agreements, embodies the complete agreement and understanding among the parties hereto with respect to the subject matter hereof and supersedes and preempts any prior understandings, agreements or representations by or among the
parties, written or oral, that may have related to the subject matter hereof in any way. 

Section 5.8.    Delays or Omissions. It is agreed that no delay or omission to exercise any right, power or
remedy accruing to any party, upon any breach, default or noncompliance by another party under this Agreement, shall impair any such right, power or remedy, nor shall it be construed to be a waiver of any such breach, default or noncompliance, or
any acquiescence therein, or of or in any similar breach, default or noncompliance thereafter occurring. It is further agreed that any waiver, permit, consent or approval of any kind or character on the part of any party hereto of any breach,
default or noncompliance under this Agreement or any waiver on such party’s part of any provisions or conditions of this Agreement, must be in writing and shall be effective only to the extent specifically set forth in such writing. All
remedies, either under this Agreement, by law, or otherwise afforded to any party, shall be cumulative and not alternative. 

Section 5.9.    Governing Law; Severability; Limitation of Liability; Judicial Proceedings. 

(a)    This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware, without
regard to the conflicts of law rules of such state. 
 (b)    In the event of a direct conflict between the provisions
of this Agreement and any mandatory, non-waivable provision of the DGCL, such provision of the DGCL shall control. In the event of a direct conflict between the provisions of this Agreement and the Certificate of Incorporation or bylaws of the
Company, this Agreement shall control as between the parties hereto and the parties hereto furthermore undertake to exercise their powers as Stockholders to amend the Certificate of Incorporation or bylaws, as applicable, so as to be consistent with
and give effect to the terms of this Agreement. If any provision of the DGCL provides that it may be varied or superseded in the Certificate of Incorporation or bylaws of a corporation, such provision shall be deemed superseded and waived in its
entirety if this Agreement contains a provision addressing the same issue or subject matter. 
 (c)    If any provision
of this Agreement is held to be illegal, invalid or unenforceable under present or future Laws effective during the term of this Agreement, such provision shall be fully severable; this Agreement shall be construed and enforced as if such illegal,
invalid, or unenforceable provision had never comprised a part of this Agreement; and the remaining provisions of this Agreement shall remain in full force and effect and shall not be affected by the illegal, invalid or unenforceable provision or by
its severance from this Agreement. Furthermore, in lieu of each such illegal, invalid or unenforceable provision, there shall be added automatically as a part of this Agreement a provision as similar in terms to such illegal, invalid or
unenforceable provision as may be possible and be legal, valid and enforceable. 
 (d)     To the fullest extent
permitted by Law, none of the Company, any Stockholder or any other party to this Agreement shall be liable to any of the other such Persons for punitive, special, exemplary or consequential damages, including damages for loss of profits, loss of
use or revenue or losses by reason of cost of capital, arising out of or relating to this Agreement or the transactions contemplated hereby, regardless of whether based on contract, tort (including negligence), strict liability, violation of any
applicable deceptive trade practices act or similar Law or any other legal or equitable principle, and the Company, each Stockholder and each other party releases each of the other such Persons from liability for any such damages. 

(e)    In any judicial proceeding involving any dispute, controversy or claim arising out of or relating to this
Agreement, each of the parties unconditionally accepts the exclusive jurisdiction and venue of any United States District Court located in the State of Delaware, or of the Court of Chancery of the State of Delaware, and

  
 30 

 
the appellate courts to which orders and judgments thereof may be appealed. In any such judicial proceeding, the parties agree that in addition to any method for the service of process permitted
or required by such courts, to the fullest extent permitted by Law, service of process may be made by delivery provided pursuant to the directions in Section 5.6. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL
BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. 

(f)    To the fullest extent permitted by Law, the parties hereby irrevocably waive any objection which they may now or
hereafter have to the laying of venue of any claim, controversy or dispute arising out of or relating to this Agreement or any of the transactions contemplated hereby brought in such courts or any defense of inconvenient forum for the maintenance of
such claim, controversy or dispute. Each of the parties agrees that a final and unappealable judgment in any such claim, controversy or dispute shall be conclusive and may be enforced in other jurisdictions by suit on the judgment, a certified copy
of which shall be conclusive evidence of the fact and amount of such judgment, or in any other manner provided by Law. 

Section 5.10.    Equitable Relief. The parties hereby confirm that damages at Law would be an inadequate
remedy for a breach or threatened breach of this Agreement and agree that, in the event of a breach or threatened breach of any provision hereof, the respective rights and obligations hereunder shall be enforceable by specific performance,
injunction or other equitable remedy, but, nothing herein contained is intended to, nor shall it, limit or affect any right or rights at Law or by statute or otherwise of a party aggrieved as against another party for a breach or threatened breach
of any provision hereof, it being the intention by this Section 5.10 to make clear the agreement of the parties that the respective rights and obligations of the parties hereunder shall be enforceable in equity as well as at Law or otherwise
and that the mention herein of any particular remedy shall not preclude a party from any other remedy it or he might have, either in Law or in equity. 

Section 5.11.    Aggregation of Shares. Notwithstanding anything to the contrary herein, all Shares held or
acquired by a Stockholder and its Affiliates shall be aggregated together for purposes of determining the rights or obligations of a Stockholder, or application of any restrictions to a Stockholder, or reference to its Shares under this Agreement,
in each instance in which such right, obligation or restriction is determined by any ownership threshold. Within a group of investors that are Affiliates, the members of such group of investors may allocate the ability to exercise any rights of such
group of investors under this Agreement in any manner that such group of investors (by approval of the holders of a majority of Shares held by such group) sees fit, subject to the other terms of this Agreement. 

Section 5.12.    Subsequent Acquisition of Shares. Any Shares acquired subsequent to the date of the Original
Agreement by a Stockholder shall be subject to the terms and conditions of this Agreement and such securities shall be considered to be “Shares” as such term is used herein for purposes of this Agreement. 

Section 5.13.    Table of Contents, Headings and Captions. The table of contents, headings, subheadings and
captions contained in this Agreement are included for convenience of reference only, and in no way define, limit or describe the scope of this Agreement or the intent of any provision hereof. 

Section 5.14.    No Recourse. Notwithstanding anything that may be expressed or implied in this Agreement or
any document or instrument delivered contemporaneously herewith, and notwithstanding the fact that any party hereto may be a partnership or limited liability company, each party hereto, by its acceptance of the benefits of this Agreement, covenants,
agrees and acknowledges that no Persons other than the named parties hereto shall have any obligation hereunder and that it has no rights of recovery hereunder against, and no recourse hereunder or under any documents or instruments delivered
contemporaneously herewith or in respect of any oral representations made or alleged to be made in connection herewith or therewith shall be had against, any former, current or future director, officer, agent, Affiliate, manager, assignee,
incorporator, controlling Person, fiduciary, representative or employee of any other party (or any of their successor or permitted assignees), against any former, current, or future general or limited partner, manager, stockholder or member of any
KKR Stockholder, KKR Americas XII, any Walgreens Stockholder or WBA (or any of their successors or permitted assignees) or any Affiliate thereof or against any former, current or future director, officer, agent, employee, Affiliate, manager, 

  
 31 

 
assignee, incorporator, controlling Person, fiduciary, representative, general or limited partner, stockholder, manager or member of any of the foregoing, but in each case not including the named
parties hereto (each, but excluding for the avoidance of doubt, the named parties hereto, an “Associated Person”), whether by or through attempted piercing of the corporate veil, by or through a claim (whether in tort, contract or
otherwise) by or on behalf of such party against the Associated Persons, by the enforcement of any assessment or by any legal or equitable proceeding, or by virtue of any statute, regulation or other applicable law, or otherwise; it being expressly
agreed and acknowledged that no personal liability whatsoever shall attach to, be imposed on, or otherwise be incurred by any Associated Person, as such, for any obligations of the applicable party under this Agreement or the transactions
contemplated hereby, under any documents or instruments delivered contemporaneously herewith, in respect of any oral representations made or alleged to be made in connection herewith or therewith, or for any claim (whether in tort, contract or
otherwise) based on, in respect of, or by reason of, such obligations or their creation. 

Section 5.15.    Counterparts. This Agreement may be signed in any number of counterparts, each of which shall
be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. This Agreement shall become effective when each party hereto shall have received a counterpart hereof signed by all of the other parties
hereto. Until and unless each party has received a counterpart hereof signed by each other party hereto, this Agreement shall have no effect and no party shall have any right or obligation hereunder (whether by virtue of any other oral or written
agreement or other communication). 
 [Signature Pages Follow] 

  
 32 

 IN WITNESS WHEREOF, each of the undersigned duly executed this Agreement (or caused this
Agreement to be executed on its behalf by its officer or representative thereto duly authorized) as of the day and year first written above. 
  

					
	PHOENIX PARENT HOLDINGS INC.
		
	By:	 	 /s/ Robert Dries

		 	Name:	 	Robert Dries
		 	Title:	 	Treasurer

  
 [Signature Page to
Amended and Restated Stockholders’ Agreement] 

 IN WITNESS WHEREOF, each of the undersigned duly executed this Agreement (or caused this
Agreement to be executed on its behalf by its officer or representative thereto duly authorized) as of the day and year first written above. 
  

					
	KKR PHOENIX AGGREGATOR L.P.
	
	By: KKR Phoenix Aggregator GP LLC, its general partner
		
	By:	 	 /s/ Max C. Lin

		 	Name:	 	Max C. Lin
		 	Title:	 	Vice President

  
 [Signature Page to
Amended and Restated Stockholders’ Agreement] 

 IN WITNESS WHEREOF;·each of the undersigned duly executed this Agreement (or caused
this Agreement to be executed on its behalf by its officer or representative thereto duly authorized) as of the day and year first written above. 
  

					
	WALGREEN CO.
		
	By:	 	 /s/ Mark Vainisi

		 	Name:	 	Mark Vainisi
		 	Title:	 	SR. VP. Global M&A
	
	WALGREENS BOOTS ALLIANCE, INC., solely for purposes of the WBA Specified Provisions
		
	By:	 	 /s/ Mark Vainisi

		 	Name:	 	Mark Vainisi
		 	Title:	 	SR. VP. Global M&A

  
 [Signature Page to
Amended and Restated Stockholders’ Agreement] 

 IN WITNESS WHEREOF, each of the undersigned duly executed this agreement (or caused this
Agreement to be executed on its behalf by its officer or representative thereto duly authorized) as of the day and year first written above. 
  

					
	KKR AMERICAS FUND XII L.P., solely for purposes of the KKR Americas Specified Provisions
	
	By: KKR Associates Americas XII L.P., its General Partner
	
	By: KKR Americas XII Limited, its General Partner
		
	By:	 	 /s/ David J. Sorkin

		 	Name:	 	David J. Sorkin
		 	Title:	 	Director

  
 [Signature Page to
Amended and Restated Stockholders’ Agreement] 

 
					
	PHARMERICA CORPORATION, solely for purposes of Section 4.7 of this Agreement
		
	By:	 	 /s/ Robert Dries

		 	Name:	 	Robert Dries
		 	Title:	 	Executive Vice President and Chief Financial Officer

  
 [Signature Page to
Amended and Restated Stockholders’ Agreement] 

 SCHEDULE I 

 

					
	 Name
	  	Shares	 
	 KKR Phoenix Aggregator L.P.
	  	 	5,180,000 shares	 
	 Walgreen Co.
	  	 	2,220,000 shares	 

  
 Schedule I 

 SCHEDULE II 

DIRECTORS AS OF THE BRIGHTSPRING
CLOSING 
 KKR Designated Directors 

Max Lin 
 Neel Varshney 

Johnny Kim 
 Walgreens Designated Directors

 David Schreibman 
 Hari
Avula 
 Current Chief Executive Officer 

Jon Rousseau 
 Other Director 

Gregory Weishar 

  
 Schedule II 

 SCHEDULE III 

WALGREENS APPROVAL RIGHTS 

During the period described in Section 2.4(a) the following actions shall require the prior approval of each of the Walgreens Designated
Directors or Walgreens: 
 (i)    any amendment, repeal or alteration of any of the organizational
documents of the Company or any of its Subsidiaries; 
 (ii)    any adverse modification to the terms of
the Shares held by any Walgreens Stockholder; 
 (iii)    any voluntary election by the Company or any
Subsidiary of the Company to commence bankruptcy or insolvency proceedings; 
 (iv)    the entering into
of any agreement or transaction, directly or indirectly, between (x) the Company and its Subsidiaries and (y) any KKR Stockholder or any of its Affiliates, including, for the avoidance of doubt, KKR Capital Markets LLC and its affiliates
and any KKR Debt Fund Affiliates), in each case other than (a) any agreement or transaction contemplated by this Agreement or the Transaction Agreements or (b) KKR Capital Markets LLC’s or its affiliates’ participation in the
arranging of the debt financing of the BrightSpring Acquisition; 
 (v)    any issuance of equity or debt
securities of the Company or any of its Subsidiaries to any KKR Stockholder or any Walgreens Stockholder unless (i) the Board determines that any such issuance is in the best interest of the Company and (ii) each of the KKR Stockholders
and the Walgreens Stockholders has been given the right to participate in such issuance pro rata on the same terms and conditions and otherwise in accordance with the provisions of this Agreement; 

(vi)    any redemption or repurchase of Shares or equity securities of any Subsidiary of the Company held
by any KKR Stockholder or Walgreens Stockholder, unless such redemption or repurchase is offered to all the KKR Stockholders and Walgreens Stockholders on the same terms and conditions; 

(vii)    any amendment to the Initial Management Equity Plan to increase in the number of Shares reserved
for issuance or securities available to be granted under the Initial Management Equity Program or making, creating or otherwise implementing any other Management Equity Program; provided that approval is hereby deemed granted to amend the
Initial Management Equity Program to provide for a pool of no greater than 13% of the total Shares outstanding (calculated on a fully diluted basis) in the aggregate authorized for issuance; 

(viii)    any issuance by the Company of preferred equity securities or a different class of Capital Stock
that is senior to (or with different economic terms than) the Shares held by each of the KKR Stockholders and the Walgreens Stockholders; 

(ix)    any (A) incurrence, assumption or guarantee by the Company and its Subsidiaries of
indebtedness for borrowed money other than (x) for indebtedness incurred by the Company and its Subsidiaries at the Closing (including, for the avoidance of doubt, incurrence of indebtedness under the revolving credit facilities entered into at
the Closing), and (y) the incurrence, assumption or guarantee of indebtedness, when taken together with all other additional indebtedness so incurred, assumed or guaranteed that does not exceed $30,000,000; (B) refinancing any of the foregoing
indebtedness; or (C) creation of liens on assets that are material to the Company and its Subsidiaries, taken as a whole, except in connection with indebtedness permitted pursuant to this clause (ix); 

(x)    the declaration or payment by the Company of any dividend or distribution (other than in connection
with the consummation of a Company Sale or an Initial Public Offering); 

  
 Schedule III-1 

 (xi)    making loans or advances to any Person (other
than any loans by or among the Company and/or its Subsidiaries and any loans or advances made to employees of the Company or its Subsidiaries in the ordinary course of business pursuant to guidelines previously approved by the Board (including each
of the Walgreens Designated Directors); 
 (xii)    any (A) acquisitions by the Company and/or its
Subsidiaries of another Person or the assets, business or securities of another Person, with aggregate payment obligations by the Company and/or its Subsidiaries with respect to such acquisitions in excess of (1) $25,000,000 individually or (2)
$100,000,000 in the aggregate for a given fiscal year excluding any such acquisitions approved by the Walgreens Designated Directors or Walgreens or (B) dispositions by the Company and/or its Subsidiaries of any assets (including the
disposition or issuance of capital stock of any Subsidiaries but excluding sales of products in the ordinary course of business) or other property having a value (or with an aggregate sale price) in excess of (1) $10,000,000 individually or (2)
$50,000,000 in the aggregate for a given fiscal year excluding any dispositions approved by the Walgreens Designated Directors or Walgreens; 

(xiii)    the initiation or settlement by the Company or any of its Subsidiaries of any lawsuit; except for
(i) any settlement in the ordinary course of business that requires payment by the Company or any Subsidiary of less than $3,000,000 and that does not impose any material restriction on or changes to the business or operations of, the Company
or any Subsidiary or (ii) initiation of any lawsuit that is in the ordinary course of business or that is not seeking damages of more than $3,000,000; 

(xiv)     the hiring or termination by the Company or any of its Subsidiaries of the chief executive
office, chief financial officer or other executive officer (for this purpose meaning those officers that report directly to the chief executive officer) of the Company or any of its Subsidiaries; 

(xv)    approving the annual budget of the Company and its Subsidiaries and the long-range plan of the
Company and its Subsidiaries, and, in each case, any material amendments thereto; 
 (xvi)    entering
into a definitive agreement with respect to a Company Sale or consummating an Initial Public Offering, in each case except as set forth in Section 3.5; 

(xvii)    any material capital expenditures by the Company or its Subsidiaries that have not been included
in the annual budget of the Company and its Subsidiaries in excess of $3,000,000 individually or $15,000,000 in the aggregate; 

(xviii) the appointment of an external auditor for the Company and its Subsidiaries; 

(xix)    any material change in tax elections or filings of the Company or any of its Subsidiaries; 

(xx)    any amendment, modification, termination or alteration to the terms and conditions of any Shortfall
Funding proposed by the Board; and 
 (xxi)    any action by the Company or its Subsidiaries under the
ABDC Prime Vendor Agreement (or any replacement Affiliated Purchasing Arrangement under which WBA or its Affiliates are jointly and severally liable for the obligations of the Company or its Subsidiaries thereunder) if such action would result in a
breach by PharMerica or its Subsidiaries of its obligations to make any payments in accordance with the terms of the ABDC Prime Vendor Agreement or such replacement Affiliated Purchasing Arrangement (including the purchase of products pursuant to
the ABDC Prime Vendor Agreement (or such replacement Affiliated Purchasing Arrangement) by PharMerica or its Subsidiaries if such purchase would be reasonably likely to result in a breach of the ABDC Prime Vendor Agreement (or such replacement
Affiliated Purchasing Arrangement)). 

  
 Schedule III-2 

 ANNEX A 

JOINDER AGREEMENT 

The undersigned is executing and delivering this Joinder Agreement pursuant to the Amended and Restated Stockholders’ Agreement (the
“Stockholders’ Agreement”), dated as of March 5, 2019 and as it may be amended from time to time in accordance with its terms, by and among Phoenix Parent Holdings Inc., KKR Phoenix Aggregator L.P., KKR Americas XII Fund L.P.,
Walgreen Co. and Walgreens Boots Alliance, Inc., and any other Persons who become parties to the Stockholders Agreement’ pursuant to a Joinder Agreement. 

Capitalized terms used but not defined herein shall have the meaning ascribed to such terms in the Stockholders’ Agreement. 

By executing and delivering this Joinder Agreement to the Stockholders’ Agreement, the undersigned hereby adopts and approves the
Stockholders’ Agreement and agrees, effective commencing on the date hereof and as a condition to the undersigned’s becoming the transferee of Shares, (x) to be bound by and to comply with the provisions of the Stockholders’
Agreement that were applicable to the transferor of such Shares, in the same manner as if the undersigned were an original signatory to the Stockholders’ Agreement, and (y) that the Shares Transferred shall bear legends, substantially in
the forms required by Section 5.5 of the Stockholders’ Agreement. 
 Accordingly, the undersigned has executed and delivered this
Joinder as of the      day of         , 20     . 
  

			
	[NAME OF STOCKHOLDER]
		
	By:	 	
                    

		 	Name:
		 	Title:
	
	Address: [Address]
	Attention: [Name]
	Facsimile: [Facsimile Number]

  
 Annex A

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