Document:

EX-10.7

 Exhibit 10.7 

Certain identified information has been excluded from the exhibit because it is both not material and would likely cause competitive harm to the
registrant if publicly disclosed. 
 NOBLE FINANCE COMPANY 

REGISTRATION RIGHTS AGREEMENT 

This REGISTRATION RIGHTS AGREEMENT (including all exhibits hereto and as may be amended, supplemented or amended and restated from time to
time in accordance with the terms hereof, this “Agreement”) is made and entered into as of February 5, 2021 by and among Noble Finance Company, an exempted company incorporated in the Cayman Islands with limited liability (the
“Company”), and the Holders (as defined below) of the Company’s Second Lien Notes (as defined below) listed on Schedule I hereto. The Company and the Holders are referred to herein collectively as the
“Parties” and each, individually, a “Party.” Capitalized terms used herein have the meanings set forth in Section 1. 

WITNESSETH: 
 WHEREAS, the
Company and certain of its affiliates (collectively, the “Debtors”) filed chapter 11 cases on July 31, 2020, and September 24, 2020 (collectively, the “Chapter 11 Cases”), under title 11 of the United
States Code, 11 U.S.C. §§ 101-1532 (the “Bankruptcy Code”) in the United States Bankruptcy Court for the Southern District of Texas (the “Bankruptcy Court”);

 WHEREAS, on October 12, 2020, the Debtors and the Backstop Parties (as defined below) entered into that certain Backstop Commitment
Agreement (as may be amended, the “Backstop Commitment Agreement”), pursuant to which the Company agreed, subject to the terms and conditions therein and in the Plan (as defined below), to, among other things, (i) issue and
sell Second Lien Notes to the Backstop Parties on the Effective Date (as defined below) and (ii) register the resale of such Second Lien Notes under the Securities Act (as defined below); 

WHEREAS, in connection with the Chapter 11 Cases, the Debtors filed the Modified Second Amended Joint Plan of Reorganization of Noble
Corporation plc (n/k/a Noble Holding Corporation plc) and Its Debtor Affiliates on November 18, 2020 (the “Plan”), which was confirmed by the Bankruptcy Court on November 20, 2020; 

WHEREAS, on the date hereof, the Company, certain of its subsidiaries (as guarantors thereunder) and U.S. Bank National Association, a
national banking association (as trustee and collateral agent thereunder), will enter into that certain indenture, dated as of the date hereof (the “Indenture”), pursuant to which the Company will issue the Second Lien Notes; and

 WHEREAS, the Holders and the Company desire to enter into this Agreement to provide the Holders with certain rights relating to the
registration of the resale of certain Second Lien Notes. 
 NOW, THEREFORE, in consideration of the premises and the mutual covenants and
agreements set forth herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged by each Party, and intending to be legally bound, the Parties agree as follows: 

 

 1. Definitions. As used in this Agreement, the following terms shall have the respective
meanings set forth in this Section 1: 
 “10-K Reference Date” means the
date that is the earlier of (i) fifteen (15) days after the Company files an Annual Report on Form 10-K for the year ended December 31, 2020 with the Securities and Exchange Commission and
(ii) April 15, 2021. 
 “Affiliate” means, with respect to any Person, any other Person directly or indirectly
controlling, controlled by, or under common control with, such Person as of the date on which, or at any time during the period for which, the determination of affiliation is being made (including any Affiliated Funds of such Person);
provided, that for purposes of this Agreement, no Backstop Party shall be deemed an Affiliate of the Company or any of the other Debtors. For purposes of this definition, the term “control” (including the correlative meanings of the
terms “controlled by” and “under common control with”), as used with respect to any Person, means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such
Person, whether through the ownership of voting securities, by contract, or otherwise. 
 “Affiliated Fund” means, with
respect to any Person, (a) any investment funds, managed accounts or other entities who are advised by such Person or the same investment advisor or manager or by investment advisors which are Affiliates of such Person or (b) any
investment advisor with respect to an investment fund, managed account or entity it advises. 
 “Agreement” has the meaning
set forth in the preamble. 
 “Automatic Shelf Registration Statement” means an “automatic shelf registration
statement” as defined in Rule 405. 
 “Backstop Commitment Agreement” has the meaning set forth in the Recitals. 

“Backstop Parties” has the meaning set forth in the Backstop Commitment Agreement. 

“Backstop Premium Notes” means the Second Lien Notes issued as Backstop Premiums (as defined in the Backstop Commitment
Agreement). 
 “Bankruptcy Court” has the meaning set forth in the Recitals. 

“beneficially owned”, “beneficial ownership” and similar phrases have the same meanings as such terms have
under Rule 13d-3 (or any successor rule then in effect) promulgated under the Exchange Act, except that in calculating the beneficial ownership of any Holder, such Holder shall be deemed to have beneficial
ownership of all securities that such Holder has the right to acquire, whether such right is currently exercisable or is exercisable upon the occurrence of a subsequent event or passage of time. 

“Board of Directors” means the board of directors or any committee thereof (or any comparable successor governing body) of
the Company; provided that, at the Company’s election, the board of directors shall be deemed to include the board of directors (or any successor governing body) of any direct or indirect parent of the Company. 

  
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 “Bought Deal” has the meaning set forth in
Section 2(a)(v). 
 “Business Day” means any day that is not a Saturday, a Sunday or other day on
which banks are required or authorized by law to be closed in New York, New York. 
 “Chapter 11 Cases” has the meaning set
forth in the Recitals. 
 “Commission” means the Securities and Exchange Commission or any other federal agency then
administering the Securities Act or Exchange Act. 
 “Company” has the meaning set forth in the Preamble. 

“Covered Notice” has the meaning set forth in Section 3(x). 

“Debtors” has the meaning set forth in the Recitals. 

“Demand Notice” has the meaning set forth in Section 2(b)(i). 

“Demand Registration” has the meaning set forth in Section 2(b)(i). 

“Demand Registration Statement” has the meaning set forth in Section 2(b)(i). 

“Demand Request” has the meaning set forth in Section 2(b)(i). 

“Due Diligence Information” has the meaning set forth in Section 3(p). 

“Effective Date” has the meaning set forth in the Backstop Commitment Agreement. 

“Effectiveness Period” has the meaning set forth in Section 2(b)(iii). 

“End of Suspension Notice” has the meaning set forth in Section 2(e). 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 “FINRA” means the Financial Industry Regulatory Authority or any successor regulatory authority agency. 

“Form S-1 Shelf” has the meaning set forth in
Section 2(a)(i). 
 “Form S-3 Shelf” has the meaning set
forth in Section 2(a)(i). 
 “Free Writing Prospectus” means any “free writing
prospectus” as defined in Rule 405. 
 “Holdback Notes” has the meaning set forth in the Backstop Commitment
Agreement. 
 “Holdback Period” has the meaning set forth in Section 5(b). 

  
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 “Holder” and “Holder of Registrable Securities” means each
Person that is party to this Agreement on the date hereof and any Person who hereafter becomes a party to this Agreement pursuant to Section 7(g) of this Agreement. A Person shall cease to be a Holder hereunder at such time
as it ceases to beneficially own any Registrable Securities. 
 “Holder Indemnified Persons” has the meaning set forth in
Section 6(a). 
 “Holders of a Majority of Included Registrable Securities” means Holders of a
majority of the Registrable Securities included in a Demand Registration or an Underwritten Shelf Takedown, as applicable. For the avoidance of doubt, only Registrable Securities held by Persons who are party to this Agreement as of the date hereof
or who thereafter execute a joinder in accordance with Section 7(g) shall be considered in calculating a majority of the Registrable Securities. 

“Holders of a Majority of Registrable Securities” means Holders of a majority of the Registrable Securities. For the
avoidance of doubt, only Registrable Securities held by Persons who are party to this Agreement as of the date hereof or who thereafter execute a joinder in accordance with Section 7(g) shall be considered in calculating a
majority of the Registrable Securities. 
 “Included Registrable Securities” means the Registrable Securities included in a
Demand Registration or an Underwritten Shelf Takedown, as applicable. 
 “Indemnified Persons” has the meaning set forth in
Section 6(b). 
 “indemnifying party” has the meaning set forth in
Section 6(c). 
 “Indenture” has the meaning set forth in the Recitals. 

“Issuer Free Writing Prospectus” means an “issuer free writing prospectus”, as defined in Rule 433, relating to an
offer of the Registrable Securities. 
 “Lock-Up Agreement” has the meaning set
forth in Section 5(a). 
 “Losses” has the meaning set forth in
Section 6(a). 
 “Maximum Offering Size” has the meaning set forth in
Section 2(a)(vi). 
 “Opt-Out Election” has the meaning
set forth in Section 3(x). 
 “Parties” and “Party” have the meanings set forth
in the Preamble. 
 “PDF” means portable document format (.pdf). 

“Person” means any individual, partnership, corporation, company, association, trust, joint venture, limited liability
company, unincorporated organization, any government or governmental department or agency (or political subdivision thereof), or other entity of any kind, and shall include any successor (by merger or otherwise) of any such entity. 

“Piggyback Eligible Holders” has the meaning set forth in Section 2(c)(i). 

  
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 “Piggyback Notice” has the meaning set forth in
Section 2(c)(i). 
 “Piggyback Offering” has the meaning set forth in
Section 2(c)(i). 
 “Piggyback Registration” has the meaning set forth in
Section 2(c)(i). 
 “Piggyback Request” has the meaning set forth in
Section 2(c)(i). 
 “Plan” has the meaning set forth in the Recitals. 

“Proceeding” means any action, claim, suit, proceeding or investigation (including a preliminary investigation or partial
proceeding, such as a deposition) pending or known to the Company to be threatened. 
 “Prospectus” means the prospectus or
prospectuses included in any Registration Statement (including, without limitation, a prospectus that includes any information previously omitted from a prospectus filed as part of an effective Registration Statement in reliance upon Rule 430A
promulgated under the Securities Act), all amendments and supplements to the prospectus, including post-effective amendments and all material incorporated by reference or deemed to be incorporated by reference in such prospectus or prospectuses.

 “Public Offering” means any sale or distribution to the public of Second Lien Notes pursuant to an offering registered
under the Securities Act, whether by the Company, by Holders and/or by any other holders of the Company’s Second Lien Notes. 

“Qualified Holder” means, on any date, one or more Backstop Parties who, together with their Affiliates, beneficially own in
the aggregate at least 10% of the aggregate principal amount of those Second Lien Notes constituting Registrable Securities issued on the date hereof. 

“Questionnaire” has the meaning set forth in Section 2(a)(ii). 

“Registrable Securities” means (a) Second Lien Notes issued or issuable to the Holders pursuant to the Backstop
Commitment Agreement, including the Holdback Notes, Unsubscribed Notes and Backstop Premium Notes, (b) Second Lien Notes received by Holders pursuant to the Plan or the Rights Offering or otherwise acquired by Holders, in each case that are on
the date hereof (or subsequently become) Affiliates of the Company as well as Second Lien Notes held by Affiliates of such Holders, (c) additional Second Lien Notes acquired or held by (or deemed to be held by) any Holder or its Affiliates in
open market or other purchases or otherwise and (d) additional Second Lien Notes issued or paid by way of payment-in-kind interest, in each case, that are
beneficially owned on or after the date hereof by the Holders and their Affiliates or any transferee or assignee of any Holder or its Affiliates after giving effect to a transfer made in compliance with Section 7(g), all of
which securities are subject to the rights provided herein until such rights terminate pursuant to the provisions of this Agreement; provided that any securities issued pursuant to Section 1145 of the Bankruptcy Code shall not be considered
“Registrable Securities” for the purposes of this Agreement, unless such securities are held by (or deemed to be held by) Affiliates of the Company, as reasonably determined by a Holder under applicable securities laws, in which case they
shall be considered “Registrable Securities” for the purposes of this Agreement. As to any particular Registrable Securities, such securities shall cease to be 

  
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Registrable Securities when (i) a Registration Statement registering such Registrable Securities under the Securities Act has been declared effective and such Registrable Securities have
been sold, transferred or otherwise disposed of by the Holder thereof pursuant to such effective Registration Statement, (ii) such Registrable Securities are sold, transferred or otherwise disposed of pursuant to Rule 144 and such Registrable
Securities are thereafter freely transferable by such recipient (without limitations on volume) without registration under the Securities Act, (iii) such Registrable Securities cease to be outstanding, or (iv) such Registrable Securities
are eligible for sale pursuant to Rule 144 without volume or manner-of-sale restrictions and without the requirement for the Company to be in compliance with the current
public information requirement under Rule 144(c)(1). 
 “Registration Expenses” has the meaning set forth in
Section 4. 
 “Registration Statement” means any registration statement of the Company filed with
or to be filed with the Commission under the Securities Act and other applicable law, including an Automatic Shelf Registration Statement, and including any Prospectus, amendments and supplements to each such registration statement or Prospectus,
including pre- and post-effective amendments, all exhibits thereto, and all material incorporated by reference or deemed to be incorporated by reference in such registration statement. 

“Related Party” has the meaning set forth in Section 7(q). 

“Representatives” means, with respect to any Person, such Person’s directors, officers, members, partners, limited
partners, general partners, shareholders, subsidiaries, managed accounts or funds, managers, management company, investment manager, affiliates, principals, employees, agents, investment bankers, attorneys, accountants, advisors, consultants, fund
advisors, financial advisor and other professionals of such Person, in each case, in such capacity, serving on or after the date of this Agreement. 

“Rights Offering” has the meaning set forth in the Backstop Commitment Agreement. 

“road show” has the meaning set forth in Section 6(a). 

“Rule 144” means Rule 144 promulgated by the Commission pursuant to the Securities Act, or any similar rule or regulation
hereafter adopted by the Commission having substantially the same effect as such Rule. 
 “Rule 158” means Rule 158
promulgated by the Commission pursuant to the Securities Act, or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule. 

“Rule 405” means Rule 405 promulgated by the Commission pursuant to the Securities Act, or any similar rule or regulation
hereafter adopted by the Commission having substantially the same effect as such Rule. 
 “Rule 415” means Rule 415
promulgated by the Commission pursuant to the Securities Act, or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule. 

  
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 “Rule 424” means Rule 424 promulgated by the Commission pursuant to the
Securities Act, or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule. 

“Rule 433” means Rule 433 promulgated by the Commission pursuant to the Securities Act, or any similar rule or regulation
hereafter adopted by the Commission having substantially the same effect as such Rule. 
 “Second Lien Notes” means the
senior secured second lien notes of the Company, issued pursuant to the Indenture. 
 “Securities Act” means the Securities
Act of 1933, as amended, and the rules and regulations promulgated thereunder. 
 “Selling Expenses” means all underwriting
fees, discounts, brokerage fees, selling commissions and stock transfer taxes applicable to the sale of Registrable Securities and related legal and other fees (including, without limitation, fees and disbursements of counsel) of a Holder, other
than those listed in the definition of Registration Expenses. 
 “Shelf Period” has the meaning set forth in
Section 2(a)(i). 
 “Shelf Registrable Securities” has the meaning set forth in
Section 2(a)(v). 
 “Shelf Registration” means the registration of an offering of Registrable
Securities on a Form S-1 Shelf or a Form S-3 Shelf (or the then appropriate form), as applicable, on a delayed or continuous basis under Rule 415, pursuant to
Section 2(a)(i). 
 “Shelf Registration Statement” has the meaning set forth in
Section 2(a)(i). 
 “Shelf Takedown Notice” has the meaning set forth in
Section 2(a)(v). 
 “Shelf Takedown Request” has the meaning set forth in
Section 2(a)(v). 
 “Subsidiary” means, when used with respect to any Person, any corporation or
other entity, whether incorporated or unincorporated, (a) of which such Person or any other Subsidiary of such Person is a general partner (excluding partnerships, the general partnership interests of which held by such Person or any Subsidiary
of such Person do not have a majority of the voting interests in such partnership) or (b) at least a majority of the securities or other interests of which having by their terms ordinary voting power to elect a majority of the board of
directors or other governing body performing similar functions with respect to such corporation or other entity is directly or indirectly owned or controlled by such Person or by any one or more of its Subsidiaries, or by such Person and one or more
of its Subsidiaries. 
 “Suspension Event” has the meaning set forth in Section 2(e). 

“Suspension Notice” has the meaning set forth in Section 2(e). 

“Suspension Period” has the meaning set forth in Section 2(e). 

  
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 “Trading Market” means the principal national securities exchange in the
United States on which Registrable Securities are (or are to be) listed. 
 “Underwritten Demand” means a Demand
Registration conducted as an underwritten Public Offering. 
 “Underwritten Shelf Takedown” has the meaning set forth in
Section 2(a)(iv). 
 “Unsubscribed Notes” means the Second Lien Notes that are Unsubscribed
Securities (as defined in the Backstop Commitment Agreement). 
 “WKSI” means a “well known seasoned issuer” as
defined under Rule 405. 
 2. Registration. 

(a) Shelf Registration. 
 (i)
Filing of Shelf Registration Statement. As promptly as practicable after the Effective Date, and in any event within thirty (30) days following the Effective Date if the Company is then eligible to use Form S-3 or sixty
(60) days following the Effective Date if the Company is not then eligible to use Form S-3, the Company shall file a Registration Statement for a Shelf Registration on Form S-3 (the “Form S-3 Shelf”) or Form S-1 (the
“Form S-1 Shelf” and, together with the Form S-3 Shelf, the “Shelf Registration Statement”), as applicable, covering the resale of all Registrable Securities beneficially owned as of the date of filing such Shelf
Registration Statement by the Holders on a delayed or continuous basis. If the Company files a Form S-1 Shelf, then as soon as reasonably practicable after the Company becomes eligible to use Form S-3 with respect to the registration of the
Registrable Securities, the Company shall convert the Form S-1 Shelf to a Form S-3 Shelf (or other appropriate short form registration statement then permitted by the Commission’s rules and regulations) covering the resale of all Registrable
Securities beneficially owned as of the date of filing such Shelf Registration Statement by the Holders (which shall be an Automatic Shelf Registration Statement if the Company is a WKSI and otherwise eligible to use such Automatic Shelf
Registration Statement). Subject to the terms of this Agreement, including any applicable Suspension Period, the Company shall use commercially reasonable efforts to cause the Shelf Registration Statement to be declared effective under the
Securities Act as promptly as practicable following the filing of the Shelf Registration Statement. The Company shall use commercially reasonable efforts to keep such Shelf Registration Statement continuously effective under the Securities Act until
the date that all Registrable Securities covered by such Registration Statement cease to be Registrable Securities, including, to the extent a Form S-1 Shelf is converted to a Form S-3 Shelf and the Company thereafter becomes ineligible to use Form
S-3, by using commercially reasonable efforts to file a Form S-1 Shelf or other appropriate form specified by the Commission’s rules and regulations as promptly as reasonably practicable after the date of such ineligibility and using its
commercially reasonable efforts to have such Shelf Registration Statement declared effective as promptly as reasonably practicable after the filing thereof (the period during which the Company is required to keep the Shelf Registration Statement
continuously effective under the Securities Act in accordance with this clause (i), the “Shelf Period”). For so long as any Registrable Securities covered by any Form S-1 Shelf remain unsold, the Company will file any supplements to
the Prospectus or post-effective amendments required 

  
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to be filed by applicable law in order to incorporate or include into such Prospectus any Current Reports on Form 8-K necessary or required to be filed by
applicable law, any Quarterly Reports on Form 10-Q or any Annual Reports on Form 10-K filed by the Company with the Commission, or any other information necessary so
that (x) such Form S-1 Shelf shall not include any untrue statement of material fact or omit to state any material fact necessary in order to make the statements therein not misleading, and (y) the
Company complies with its obligations under Item 512(a)(1) of Regulation S-K. The Company shall promptly notify the Holders named in the Shelf Registration Statement via
e-mail to the addresses set forth on Schedule I hereof of the effectiveness of a Shelf Registration Statement. The Company shall file a final Prospectus in respect of such Shelf Registration Statement with the
Commission to the extent required by Rule 424. The “Plan of Distribution” section of such Shelf Registration Statement shall include a plan of distribution in a reasonable and customary form provided by counsel for the Holders of a
Majority of the Registrable Securities being registered in the applicable Shelf Registration Statement and reasonably acceptable to the Company. Notwithstanding the foregoing, in no event shall the Company be required to file a Shelf Registration
Statement pursuant to this Section 2(a) earlier than the 10-K Reference Date. 
 (ii) Holder
Information. Notwithstanding any other provision hereof, no Holder of Registrable Securities shall be entitled to include any of its Registrable Securities in any Shelf Registration Statement pursuant to this Agreement unless and until such
Holder agrees in writing to be bound by all of the provisions of this Agreement applicable to such Holder, and the Holder furnishes to the Company a fully completed notice and questionnaire in a reasonable and customary form provided by counsel to
the Company (the “Questionnaire”) and such other information in writing as the Company may reasonably request in writing for use in connection with the Shelf Registration Statement or Prospectus included therein and in any
application to be filed with or under state securities laws. In order to be named as a selling securityholder in the Shelf Registration Statement at the time it is first made available for use, a Holder must furnish the completed Questionnaire and
such other information that the Company may reasonably request in writing, if any, to the Company in writing no later than the fifth (5th) Business Day prior to the targeted initial filing date;
provided that any holder providing a completed Questionnaire within that time period may provide updated information regarding such Holder’s beneficial ownership and the aggregate principal amount of Registrable Securities requested to
be included up to the fifth (5th) Business Day prior to the effective date of the Shelf Registration Statement. Each Holder as to which any Shelf Registration is being effected agrees to furnish
to the Company as promptly as practicable all information with respect to such Holder necessary to make the information previously furnished to the Company by such Holder not materially misleading. 

(iii) Supplements. From and after the effective date of the Shelf Registration Statement, upon receipt of a completed Questionnaire and
such other information that the Company may reasonably request in writing, if any, the Company will use its commercially reasonable efforts to file as promptly as reasonably practicable, but in any event on or prior to the tenth (10th) Business Day after receipt of such information (or, if a Suspension Period is then in effect or initiated within five (5) Business Days following the date of receipt of such information, the
tenth (10th) Business Day following the end of such Suspension Period) either (i) if then permitted by the Securities Act or the rules and regulations thereunder (or then-current Commission
interpretations thereof), a supplement to the Prospectus contained in the Shelf Registration Statement naming such Holder as a selling securityholder and containing such other 

  
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information as necessary to permit such Holder to deliver the Prospectus to purchasers of the Holder’s Registrable Securities, or (ii) if it is not then permitted under the Securities
Act or the rules and regulations thereunder (or then-current Commission interpretations thereof) to name such Holder as a selling securityholder in a supplement to the Prospectus, a post-effective amendment to the Shelf Registration Statement or an
additional Shelf Registration Statement as necessary for such Holder to be named as a selling securityholder in the Prospectus contained therein to permit such Holder to deliver the Prospectus to purchasers of the Holder’s Registrable
Securities (subject, in the case of either clause (i) or clause (ii), to the Company’s right to delay filing or suspend the use of the Shelf Registration Statement as described in Section 2(e) hereof). If the
Company is not eligible to add additional selling securityholders by means of a prospectus supplement, notwithstanding the foregoing, the Company shall not be required to file more than one (1) post-effective amendment or additional Shelf
Registration Statements in any fiscal quarter for all Holders pursuant to this Section 2(a)(iii); provided that the foregoing limitation shall not apply if the Registrable Securities to be added represent beneficial
ownership of more than $10 million in aggregate principal amount of Second Lien Notes. If the Company is eligible to add additional selling securityholders by means of a prospectus supplement, notwithstanding the foregoing, the Company shall
not be required to file more than two (2) prospectus supplements for all Holders pursuant to this Section 2(a)(iii) in any fiscal quarter; provided that the foregoing limitation shall not apply if the
Registrable Securities to be added represent beneficial ownership of more than $10 million in aggregate principal amount of Second Lien Notes. 

(iv) Underwritten Shelf Takedown. At any time during the Shelf Period (subject to any Suspension Period), any one or more Holders of
Registrable Securities may request to sell all or any portion of their Registrable Securities in an underwritten Public Offering that is registered pursuant to the Shelf Registration Statement (each, an “Underwritten Shelf
Takedown”); provided, that, and subject to Section 2(a)(vii) below, the Company shall not be obligated to effect (x) an Underwritten Shelf Takedown for any Registrable Securities other than Second Lien
Notes; (y) more than three (3) Underwritten Shelf Takedowns (together with any Demand Registrations) in aggregate; or (z) any Underwritten Shelf Takedown if the aggregate proceeds expected to be received from the sale of the
Registrable Securities requested to be sold in such Underwritten Shelf Takedown, in the good faith judgment of the managing underwriter(s) therefor, is less than $20,000,000 as of the date the Company receives a Shelf Takedown Request. 

(v) Notice of Underwritten Shelf Takedown. All requests for Underwritten Shelf Takedowns shall be made by giving written notice to the
Company (the “Shelf Takedown Request”). In addition to providing the information required pursuant to Section 2(d) of this Agreement, each Shelf Takedown Request shall specify the approximate aggregate
principal amount of Second Lien Notes to be sold in the Underwritten Shelf Takedown and the expected price range (net of underwriting discounts and commissions) of such Underwritten Shelf Takedown. Subject to Section 2(e)
below, after receipt of any Shelf Takedown Request, the Company shall give written notice (the “Shelf Takedown Notice”) of such requested Underwritten Shelf Takedown (which notice shall state the material terms of such proposed
Underwritten Shelf Takedown, to the extent known) to all other Holders of Registrable Securities that have Registrable Securities registered for sale under a Shelf Registration Statement (“Shelf Registrable Securities”). Such notice
shall be given not more than ten (10) Business Days and not less than five (5) Business Days, in each case prior to the expected date of commencement of marketing efforts for such Underwritten Shelf Takedown. Subject to
Section 2(a)(vi), the Company shall include in such 

  
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Underwritten Shelf Takedown all Shelf Registrable Securities that are Second Lien Notes with respect to which the Company has received written requests for inclusion therein within (x) in
the case of a “bought deal” or “overnight transaction” (a “Bought Deal”), two (2) Business Days; (y) in the case any other Underwritten Shelf Takedown, five (5) Business Days, in each case after
the giving of the Shelf Takedown Notice. For the avoidance of doubt, the Company shall not be required to provide a Shelf Takedown Notice with respect to a Public Offering utilizing a Shelf Registration Statement other than an Underwritten Shelf
Takedown, and Holders shall not have rights to participate therein under this Section 2(a)(v).  
 (vi)
Priority of Registrable Securities. If the managing underwriters for such Underwritten Shelf Takedown advise the Company and the Holders of Shelf Registrable Securities proposed to be included in such Underwritten Shelf Takedown that in their
reasonable view the aggregate principal amount of Shelf Registrable Securities proposed to be included in such Underwritten Shelf Takedown exceeds the aggregate principal amount of Shelf Registrable Securities which can be sold in an orderly manner
in such offering within a price range acceptable to the Holders of a Majority of Included Registrable Securities requested to be included in the Underwritten Shelf Takedown (the “Maximum Offering Size”), then the Company shall
promptly give written notice to all Holders of Shelf Registrable Securities proposed to be included in such Underwritten Shelf Takedown of such Maximum Offering Size, and shall include in such Underwritten Shelf Takedown the aggregate principal
amount of Shelf Registrable Securities which can be so sold in the following order of priority, up to the Maximum Offering Size: (A) first, the aggregate principal amount of Shelf Registrable Securities requested to be included in such
Underwritten Shelf Takedown by the Holders of such Shelf Registrable Securities, allocated, if necessary for the offering not to exceed the Maximum Offering Size, pro rata among such Holders on the basis of the aggregate principal amount of Shelf
Registrable Securities requested to be included therein by each such Holder and (B) second, any securities proposed to be offered by the Company and any other holders of Second Lien Notes in priority as may be determined by the Company and such
holders. 
 (vii) Restrictions on Timing of Underwritten Shelf Takedowns. The Company shall not be obligated to effect an Underwritten
Shelf Takedown (A) within ninety (90) days (or such longer period specified in any applicable lock-up agreement entered into with underwriters) after the “pricing” of a previous
Underwritten Shelf Takedown or Demand Registration or “pricing” of a Company-initiated Public Offering or (B) within sixty (60) days prior to the Company’s good faith estimate of the date of filing of a Company-initiated
registration statement. 
 (viii) Selection of Bankers and Counsel. The Holders of a Majority of Included Registrable Securities
requested to be included in an Underwritten Shelf Takedown shall have the right to: (A) select the investment banker(s) and manager(s) to administer the offering (which shall consist of one (1) or more reputable nationally recognized
investment banks, subject to the Company’s approval (which shall not be unreasonably withheld, conditioned or delayed)) and one (1) firm of legal counsel to represent all of the Holders (along with one (1) local counsel, to the extent
reasonably necessary, for any applicable jurisdiction), in connection with such Underwritten Shelf Takedown, and (B) determine the price at which the Registrable Securities are to be sold and the underwriting commissions, discounts and fees for
the Registrable Securities included in such Underwritten Shelf Takedown; provided that the Company shall select such investment banker(s), manager(s) and counsel (including local counsel) if such Holders of a Majority of Included Registrable
Securities cannot so agree on the same within a reasonable time period. 

  
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 (ix) Withdrawal from Registration. Any Holder whose Registrable Securities were to be
included in any such registration pursuant to Section 2(a) may elect to withdraw any or all of its Registrable Securities therefrom, without liability to any of the other Holders and without prejudice to the rights of any
such Holder or Holders to include Registrable Securities in any future registration (or registrations), by written notice to the Company delivered prior to the “pricing” date of the relevant Underwritten Shelf Takedown; provided,
however, that upon withdrawal by a majority-in-interest of the Holders whose Registrable Securities were to be included in any registration pursuant to
Section 2(a), the Company shall be permitted to terminate such Underwritten Shelf Takedown and the request for such registration shall constitute a request for an Underwritten Shelf Takedown for purposes of
Section 2(a)(iv), unless the withdrawing Holder or Holders reimburse the Company for all Registration Expenses with respect to such Underwritten Shelf Takedown (if there is more than one withdrawing Holder, the
reimbursement amount shall be allocated among such Holders on a pro rata basis based on the respective number of Registrable Securities that each withdrawing Holder had requested be included in such Underwritten Shelf Takedown relative to the other
withdrawing Holders). 
 (x) WKSI Filing. Upon the Company first becoming a WKSI and otherwise being eligible to use an Automatic
Shelf Registration Statement for such purposes, if requested by a Qualified Holder with securities registered on an existing Shelf Registration Statement, the Company will convert such existing Shelf Registration Statement to an Automatic Shelf
Registration Statement. 
 (b) Demand Registration. 

(i) If the Company (i) is in violation of its obligation to file a Shelf Registration Statement pursuant to Section 2(a) or
(ii) following the effectiveness of the Shelf Registration Statement contemplated by Section 2(a), thereafter ceases to have an effective Shelf Registration Statement during the Shelf Period (other than during any Suspension
Period), subject to the terms and conditions of this Agreement (including Section 2(b)(iii)), upon written notice to the Company (a “Demand Request”) delivered by a Qualified Holder requesting that the Company effect the
registration (a “Demand Registration”) under the Securities Act of any or all of the Registrable Securities beneficially owned by such Qualified Holder, the Company shall give a notice of the receipt of such Demand Request (a
“Demand Notice”) to all other Holders of Registrable Securities (which notice shall state the material terms of such proposed Demand Registration, to the extent known). Such Demand Notice shall be given not more than ten
(10) Business Days and not less than five (5) Business Days, in each case prior to the expected date of the public filing of the registration statement (the “Demand Registration Statement”) for such Demand
Registration. Subject to the provisions of Section 2(a)(iv)-(vii) and Section 2(e) below, the Company shall include in such Demand Registration all Registrable Securities that are Second Lien Notes with respect to which the
Company has received written requests for inclusion therein within five (5) Business Days after the later of the Company (i) the giving the Demand Notice and (ii) five (5) Business Days prior to the actual public
filing of the Demand Registration Statement. Nothing in this Section 2(b) shall relieve the Company of its obligations under Section 2(a). 

  
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 (ii) Demand Registration Using Form S-3. The
Company shall effect any requested Demand Registration using a Registration Statement on Form S-3 whenever the Company is a WKSI, and is otherwise eligible to use an Automatic Shelf Registration Statement.

 (iii) Limitations on Demand Registration. The Company shall not be required to effect more than three (3) Underwritten Demands
(together with any Underwritten Shelf Takedowns) in the aggregate. The Company shall not be required to effect an Underwritten Demand if the aggregate proceeds expected to be received from the sale of the Registrable Securities requested to be
registered in such Underwritten Demand, in the good faith judgment of the managing underwriter(s) therefor, is less than the lesser of (i) $20,000,000 and (ii) such amount as would enable all remaining Registrable Securities to be included in
such Underwritten Demand, in each case as of the date the Company receives a written request for an Underwritten Demand. The Company shall not be obligated to effect a Demand Registration (x) within ninety (90) days (or such longer period
specified in any applicable lock-up agreement entered into with underwriters) after the “pricing” of a previous Demand Registration or Underwritten Shelf Takedown or Company-initiated Public Offering
or (y) within sixty (60) days prior to the Company’s good faith estimate of the date of filing of a Company-initiated registration statement. 

(iv) Effectiveness of Demand Registration Statement. The Company shall use its commercially reasonable efforts to have the Demand
Registration Statement declared effective by the Commission as promptly as practicable after filing and keep the Demand Registration Statement continuously effective under the Securities Act for the period of time necessary for the underwriters or
Holders to sell all the Registrable Securities covered by such Demand Registration Statement or such shorter period which will terminate when all Registrable Securities covered by such Demand Registration Statement have been sold pursuant thereto
(including, if necessary, by filing with the Commission a post-effective amendment or a supplement to the Demand Registration Statement or the related Prospectus or any document incorporated therein by reference or by filing any other required
document or otherwise supplementing or amending the Demand Registration Statement, if required by the rules, regulations or instructions applicable to the registration form used by the Company for such Demand Registration Statement or by the
Securities Act, any state securities or “blue sky” laws, or any other rules and regulations thereunder) (the “Effectiveness Period”). A Demand Registration shall not be deemed to have occurred (A) if the Registration
Statement is withdrawn without becoming effective, (B) if the Registration Statement does not remain effective in compliance with the provisions of the Securities Act and the laws of any state or other jurisdiction applicable to the disposition
of the Registrable Securities covered by such Registration Statement for the Effectiveness Period, (C) if, after it has become effective, such Registration Statement is subject to any stop order, injunction or other order or requirement of the
Commission or other governmental or regulatory agency or court for any reason other than a violation of applicable law solely by any selling Holder and has not thereafter become effective, (D) in the event of an Underwritten Demand, if the
conditions to closing specified in the underwriting agreement entered into in connection with such registration are not satisfied or waived other than by reason of some act or omission by a Qualified Holder, or (E) if the aggregate principal
amount of Registrable Securities included on the applicable Registration Statement is reduced in accordance with Section 2(b)(v) such that less than 66 2/3% in aggregate principal amount of the Registrable Securities of the
Holders of Registrable Securities who sought to be included in such registration are so included in such Registration Statement. 

  
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 (v) Priority of Registration. Notwithstanding any other provision of this Section
2(b), if (A) a Demand Registration is an Underwritten Demand and (B) the managing underwriters advise the Company that in their reasonable view, the aggregate principal amount of Registrable Securities proposed to be
included in such offering (including Registrable Securities requested by Holders to be included in such Public Offering) exceeds the Maximum Offering Size, then the Company shall so advise the Holders with Registrable Securities proposed to be
included in such Underwritten Demand, and shall include in such offering the aggregate principal amount of securities which can be so sold in the following order of priority, up to the Maximum Offering Size: (A) first, the Registrable
Securities requested to be included in such Underwritten Demand by the Holders, allocated, if necessary for the offering not to exceed the Maximum Offering Size, pro rata among the Holders on the basis of the aggregate principal amount of
Registrable Securities requested to be included therein by each such Holder and (B) second, any securities proposed to be offered by the Company and any other holders of Second Lien Notes in priority as may be determined by the Company
and such holders. For purposes of Section 2(b)(v), the pro rata portion of Registrable Securities of each participating Holder shall be the product of (i) the aggregate principal amount of Registrable Securities which the
managing underwriter agrees to include in the public offering and (ii) the ratio which such participating Holder’s total Registrable Securities bears to the aggregate principal amount of Registrable Securities of all participating
Holders to be included in such Registration Statement. 
 (vi) Underwritten Demand. The determination of whether any Public Offering
of Registrable Securities pursuant to a Demand Registration will be an Underwritten Demand shall be made in the sole discretion of the Holders of a Majority of Included Registrable Securities included in such Demand Registration, and such Holders of
a Majority of Included Registrable Securities included in such Underwritten Demand shall have the right to (A) determine the plan of distribution, the price at which the Registrable Securities are to be sold and the underwriting commissions,
discounts and fees and other financial terms, and (B) select the investment banker(s) and manager(s) to administer the offering (which shall consist of one (1) or more reputable nationally recognized investment banks, subject to the
Company’s approval (which shall not be unreasonably withheld, conditioned or delayed)) and one (1) firm of legal counsel to represent all of the Holders (along with one (1) local counsel, to the extent reasonably necessary, for any
applicable jurisdiction), in connection with such Demand Registration; provided that the Company shall select such investment banker(s), manager(s) and counsel (including local counsel) if the Holders of a Majority of Included Registrable
Securities cannot so agree on the same within a reasonable time period. 
 (vii) Withdrawal of Registrable Securities. Any Holder
whose Registrable Securities were to be included in any such registration pursuant to Section 2(b) may elect to withdraw any or all of its Registrable Securities therefrom, without liability to any of the other Holders and
without prejudice to the rights of any such Holder to include Registrable Securities in any future registration (or registrations), by written notice to the Company delivered on or prior to the effective date of the relevant Demand Registration
Statement; provided, however, that upon withdrawal by a majority-in-interest of the Holders whose Registrable Securities were to be included in any
registration pursuant to Section 2(b), the Company shall be permitted to terminate such Underwritten Demand and the request for such registration shall constitute a Demand Request for purposes of
Section 2(b)(iii), unless the withdrawing Holder or Holders reimburse the Company for all Registration Expenses with respect to such Underwritten Demand (if there is 

  
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more than one withdrawing Holder, the reimbursement amount shall be allocated among such Holders on a pro rata basis based on the respective number of Registrable Securities that each withdrawing
Holder had requested be included in such Underwritten Demand relative to the other withdrawing Holders). 
 (c) Piggyback
Registration. 
 (i) Registration Statement on behalf of the Company. Subject to the terms and conditions set forth in this
Agreement, if at any time the Company proposes to file a Registration Statement or conduct an Underwritten Shelf Takedown (other than a Shelf Registration pursuant to Section 2(a), a Demand Registration pursuant to
Section 2(b)) in connection with an underwritten Public Offering of Second Lien Notes (other than registrations on Form S-4) (a “Piggyback Offering”), and the registration form to be used may be used for the registration
of Registrable Securities, the Company shall give prompt written notice (the “Piggyback Notice”) to all Holders (collectively, the “Piggyback Eligible Holders”) of the Company’s intention to conduct such
underwritten Public Offering; provided that, in the case of an Underwritten Shelf Takedown from an existing effective shelf registration statement, the Company shall not be required to provide a Piggyback Notice or include any Registrable
Securities in such Public Offering unless either (i) such registration statement with respect to which the Company is conducting an Underwritten Shelf Takedown may be used for the registration and offering of Registrable Securities
without the need to file a post-effective amendment thereto, (ii) the Company is eligible to file an automatically effective registration statement or automatically effective post-effective amendment or (iii) if the Company
is not eligible to file an automatically effective registration statement or automatically effective post-effective amendment, the need to file any such post-effective amendment or new registration statement would not reasonably be expected to have
a material adverse effect on the timing of the Company’s primary offering, in the good faith determination of the Company’s Board of Directors. The Piggyback Notice shall be given, (i) in the case of a Piggyback Offering that
is an Underwritten Shelf Takedown, not earlier than ten (10) Business Days and not less than five (5) Business Days, in each case under this clause (i), prior to the expected date of commencement of marketing efforts for such
Underwritten Shelf Takedown; or (ii) in the case of any other Piggyback Registration, not less than five (5) Business Days after the public filing of such Registration Statement. The Piggyback Notice shall offer the Piggyback
Eligible Holders the opportunity to include for registration in such Piggyback Offering the aggregate principal amount of Registrable Securities of the same class and series as those proposed to be registered as they may request, subject to
Section 2(c)(ii) (a “Piggyback Registration”). Subject to Section 2(c)(ii), the Company shall include in each such Piggyback Offering such Registrable Securities constituting Second Lien Notes for which the
Company has received written requests (each, a “Piggyback Request”) for inclusion therein from Piggyback Eligible Holders within (x) in the case of a Bought Deal, two (2) Business Days; (y) in the
case any other Underwritten Shelf Takedown, three (3) Business Days; or (z) otherwise, five (5) Business Days, in each case after the date of the Company’s notice; provided that the Company may not
commence marketing efforts for such Public Offering until such periods have elapsed and the inclusion of all such securities so requested, subject to Section 2(c)(ii). If a Piggyback Eligible Holder decides not to include all of its
Registrable Securities in any Piggyback Offering thereafter filed by the Company, such Piggyback Eligible Holder shall nevertheless continue to have the right to include any Registrable Securities in any subsequent Piggyback Offerings or
Registration Statements as may be filed by the Company with respect to offerings of Registrable Securities, all 

  
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upon the terms and conditions set forth herein. The Company shall use its commercially reasonable efforts to effect the registration under the Securities Act of all Registrable Securities which
the Company has been so requested to register pursuant to the Piggyback Requests, to the extent required to permit the disposition of the Registrable Securities so requested to be registered. 

(ii) Priority of Registration. If the managing underwriter or managing underwriters of such Piggyback Offering (as selected pursuant to
Section 2(c)(iv)) advise the Company and the Piggyback Eligible Holders that, in their reasonable view the amount of securities requested to be included in such registration (including Registrable Securities requested by
the Piggyback Eligible Holders to be included in such offering and any securities that the Company or any other Person proposes to be included that are not Registrable Securities) exceeds the Maximum Offering Size (which, for the purposes of a
Piggyback Registration relating to a primary offering of the Second Lien Notes, shall be within a price range acceptable to the Company), then the Company shall so advise all Piggyback Eligible Holders with Registrable Securities proposed to be
included in such Piggyback Registration, and shall include in such offering the aggregate principal amount which can be so sold in the following order of priority, up to the Maximum Offering Size: (A) first, (x) if the Piggyback Registration
includes a primary offering of the Second Lien Notes, the aggregate principal amount of such securities that the Company proposes to sell up to the Maximum Offering Size, or (y) if the Piggyback Registration is an offering at the demand of the
holders of additional Registrable Securities, the aggregate principal amount of securities that such holders propose to sell and thereafter the aggregate principal amount of securities proposed to be offered by the Company, in each case up to the
Maximum Offering Size and (B) second, the Second Lien Notes constituting Registrable Securities requested to be included in such Piggyback Registration by each Piggyback Eligible Holder, allocated, if necessary for the offering not to exceed
the Maximum Offering Size, pro rata on the basis of the aggregate principal amount of Second Lien Notes requested in aggregate to be included therein. For purposes of Section 2(c)(ii)(B), the pro rata portion of Registrable
Securities of each participating Holder shall be the product of (i) the aggregate principal amount of Registrable Securities which the managing underwriter agrees to include in the Public Offering and (ii) the ratio which such
participating Holder’s total Registrable Securities bears to the aggregate principal amount of Registrable Securities of all participating Holders to be included in such Registration Statement. All Piggyback Eligible Holders requesting to be
included in the Piggyback Registration must sell their Registrable Securities to the underwriters selected as provided in Section 2(c)(iv) on the same terms and conditions as apply to the Company. 

(iii) Withdrawal from Registration. The Company shall have the right to terminate, withdraw or postpone any registration initiated by it
under this Section 2(c), whether or not any Piggyback Eligible Holder has elected to include Registrable Securities in such Registration Statement, in its sole discretion; provided, however, that any such
termination, withdrawal or postponement shall not prejudice the right of the Holders to request that such registration be effected as a registration under Section 2(b) to the extent permitted thereunder and subject to the
terms set forth therein. The Registration Expenses of such terminated, withdrawn or postponed registration shall be borne by the Company in accordance with Section 4 hereof. Any Holder that has elected to include
Registrable Securities in a Piggyback Offering may elect to withdraw such Holder’s Registrable Securities at any time prior to the Business Day prior to the execution of the underwriting agreement entered into in connection therewith.  

  
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 (iv) Selection of Bankers and Counsel. If a Piggyback Registration pursuant to this
Section 2(c) involves an underwritten Public Offering, the Company shall have the right to (A) determine the plan of distribution, including the price at which the Registrable Securities are to be sold and the
underwriting commissions, discounts and fees and (B) select the investment banker or bankers and managers to administer the Public Offering, including the lead managing underwriter or underwriters, each of which shall be a nationally recognized
investment bank. Holders of a Majority of Included Registrable Securities included in such underwritten Public Offering shall have the right to select one (1) firm of legal counsel to represent all of the Holders (along with one (1) local
counsel, to the extent reasonably necessary, for any applicable jurisdiction), in connection with such Piggyback Registration; provided, that the Company shall select such counsel (including local counsel) if the Holders of a Majority of
Included Registrable Securities cannot so agree on the same within a reasonable time period. 
 (v) Effect of Piggyback Registration.
No registration effected under this Section 2(c) shall relieve the Company of its obligations to effect any registration of the offer and sale of Registrable Securities upon request under
Section 2(a) or Section 2(b) hereof, and no registration effected pursuant to this Section 2(c) shall be deemed to have been effected pursuant to
Section 2(a) or Section 2(b) hereof. 
 (d) Notice Requirements. Any Demand
Request, Piggyback Request or Shelf Takedown Request shall (i) specify the maximum aggregate principal amount or class or series of Registrable Securities intended to be offered and sold by the Holder making the request, (ii) express such
Holder’s bona fide intent to offer up to such maximum aggregate principal amount of Registrable Securities for distribution, (iii) describe the nature or method of the proposed offer and sale of Registrable Securities (to the extent
applicable), and (iv) contain the undertaking of such Holder to provide all such information and materials and take all action as may reasonably be required in order to permit the Company to comply with all applicable requirements in
connection with the registration of such Registrable Securities. 
 (e) Suspension Period. Notwithstanding any other provision of this
Section 2, the Company shall have the right but not the obligation to defer the filing of (but not the reasonable preparation of), or suspend the use by the Holders of, any Demand Registration or Shelf Registration (whether
prior to or after receipt by the Company of a Shelf Takedown Request or Demand Request) if the Company determines in good faith, after consultation with its external legal counsel expert in such matters, that: (i) such registration or offering
would require the disclosure, under applicable securities laws and other laws, of material nonpublic information that would not otherwise be required to be disclosed at that time and the Company believes in good faith that such disclosures at that
time would materially affect the Company in an adverse manner; provided that the exception in clause (i) shall continue to apply only during the time in which such material nonpublic information has not been disclosed and remains
material; (ii) such registration or offering would reasonably be expected to have a material adverse effect on any proposal or plan by the Company, any direct or indirect parent of the Company or any of the Company’s subsidiaries to engage
in any material acquisition of assets or stock (other than in the ordinary course of business) or any material plan or proposal of a significant financing, acquisition, disposition, merger, corporate reorganization, securities offering, segment
reclassification or discontinuation of operations or other material transaction or any negotiations or discussions with respect thereto involving the Company, any direct or indirect parent of the Company or any of the

  
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Company’s subsidiaries; (iii) such registration or offering would render the Company unable to comply with requirements under the Securities Act or the Exchange Act; or (iv) the
Company has a bona fide business purpose for deferring or suspending such registration or offering; provided that, the period of any delay or suspension under exceptions (i), (ii), (iii) and (iv) shall not exceed a period of seventy-five
(75) days and any such delays or extensions shall not in aggregate exceed one hundred-five (105) days in any twelve (12) month period (any such period, a “Suspension Period”, and any event triggering any such delay or
suspension, a “Suspension Event”); provided, however, that in such event, a Qualified Holder will be entitled to withdraw any request for a Demand Registration or an Underwritten Shelf Takedown and, if such request is
withdrawn, such Demand Registration or Underwritten Shelf Takedown will not count as a Demand Registration or an Underwritten Shelf Takedown and the Company will pay all Registration Expenses in connection with such registration, regardless of
whether such registration is effected. The Company shall promptly give written notice to the Holders of Registrable Securities registered under or pursuant to any Shelf Registration Statement or any Demand Registration with respect to its
declaration of a Suspension Period and of the expiration of the relevant Suspension Period (a “Suspension Notice”). If the filing of any Demand Registration is suspended or an Underwritten Shelf Takedown is delayed pursuant to this
Section 2(e), once the Suspension Period ends, a Qualified Holder may request a new Demand Registration or a new Underwritten Shelf Takedown (and such request shall not be counted as an additional Underwritten Shelf
Takedown or Demand Registration for purposes of either Section 2(a)(iv) or Section 2(b)(i)). The Company shall not include any material
non-public information in the Suspension Notice and or otherwise provide such information to a Holder unless specifically requested by a Holder in writing. A Holder shall not effect any sales of the
Registrable Securities pursuant to a Registration Statement at any time after it has received a Suspension Notice and prior to receipt of an End of Suspension Notice. Holders may recommence effecting sales of the Registrable Securities pursuant to a
Registration Statement following further written notice from the Company to such effect (an “End of Suspension Notice”), which End of Suspension Notice shall be given by the Company to the Holders with Registrable Securities
included on any suspended Registration Statement and counsel to the Holders, if any, promptly (but in no event later than two (2) Business Days) following the conclusion of any Suspension Event. Notwithstanding any provision herein to the
contrary, if the Company gives a Suspension Notice with respect to any Registration Statement pursuant to this Section 2(e), the Company agrees that it shall (i) extend the period which such Registration Statement
shall be maintained effective pursuant to this Agreement by the number of days during the period from the date of receipt by the Holders of the Suspension Notice to and including the date of receipt by the Holders of the End of Suspension Notice;
and (ii) provide copies of any supplemented or amended prospectus necessary to resume sales, if requested by any Holder; provided that such period of time shall not be extended beyond the date that there are no longer Registrable
Securities covered by such Registration Statement. 
 (f) Required Information. In addition to any other information required pursuant
to Section 2(a)(ii), and notwithstanding anything to the contrary contained herein, the Company may require each Holder of Registrable Securities as to which any Registration Statement is being filed or sale is being
effected to furnish to the Company such information regarding the distribution of such securities and such other information relating to such Holder and its ownership of Registrable Securities as the Company may from time to time reasonably request
in writing (provided that such information shall be subject to Section 3(v)), and the Company may exclude from such registration or sale the Registrable Securities of any such Holder who fails to furnish such

  
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information within a reasonable time after receiving such request or who does not consent to the inclusion in a Registration Statement or Prospectus related to such registration or sale of such
information related to such Holder that is required by the rules and regulations of the Commission. Each Holder agrees to furnish such information to the Company and to cooperate with the Company as reasonably necessary to enable the Company to
comply with the provisions of this Agreement, the Securities Act, the Exchange Act and any state securities or “blue sky” laws. 

(g) Other Registration Rights Agreements. The Company represents and warrants to each Holder that, as of the date of this Agreement, it
has not entered into any agreement with respect to any of its securities granting any registration rights to any Person with respect to the Registrable Securities, other than as contemplated by the Plan. The Company will not enter into on or after
the date of this Agreement, unless this Agreement is modified or waived as provided in Section 7(c), any agreement that is inconsistent with the rights granted to the Holders with respect to Registrable Securities in this
Agreement or otherwise conflicts with the provisions hereof, in each case, in any material respect. Other than as set forth in this Agreement, if the Company enters into any agreement that would allow any holder of Second Lien Notes or other
securities of the Company, to include such Second Lien Notes or other securities of the Company in any Registration Statement of the Company, in each case on a basis more favorable than the rights of the Holders under this Agreement (as determined
in good faith by the Company), this Agreement shall be automatically amended to provide for such more favorable terms and, to the extent the Company enters into any agreement that would allow any holder of Second Lien Notes or other securities of
the Company to include such Second Lien Notes or other securities of the Company in any Registration Statement or Underwritten Shelf Takedown under Section 2(a) or 2(b) of this Agreement, such other agreement shall
similarly provide for the Holders to have reciprocal rights with respect to any demand registrations or underwritten offerings thereunder. 

(h) Cessation of Registration Rights. All registration rights granted under this Section 2 shall continue to
be applicable with respect to any Holder until such time as such Holder no longer holds any Registrable Securities. 
 (i)
Confidentiality. Each Holder agrees that such Holder shall treat as confidential the receipt of a Demand Notice, Shelf Takedown Notice, Piggyback Notice or Suspension Notice and shall not disclose or use the information contained in any such
notice, or the existence of such notice, without the prior written consent of the Company until such time as the information contained therein is or becomes available to the public generally, other than as a result of disclosure by the Holder in
breach of the terms of this Agreement. 
 3. Registration Procedures. If and whenever registration of Registrable Securities is required
pursuant to this Agreement, subject to the express terms and conditions set forth in this Agreement, the procedures to be followed by the Company and each participating Holder to register the sale of Registrable Securities pursuant to a Registration
Statement, and the respective rights and obligations of the Company and such Holders with respect to the preparation, filing and effectiveness of such Registration Statement, are as follows: 

(a) The Company will (i) prepare and file a Registration Statement or a prospectus supplement, as applicable, with the Commission (within
the time period specified in Section 2(a) or Section 2(b), as applicable, in the case of a Shelf Registration, an Underwritten 

  
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Shelf Takedown or a Demand Registration) which Registration Statement (A) shall be on a form selected by the Company for which the Company qualifies, (B) shall be available for
the sale of the Registrable Securities in accordance with the intended method or methods of distribution, and (C) shall comply as to form in all material respects with the requirements of the applicable form and include and/or
incorporate by reference all financial statements required by the Commission to be filed therewith, and (ii) use its commercially reasonable efforts to cause such Registration Statement to become effective and remain effective for the
periods provided under Section 2(a) or Section 2(b), as applicable, in the case of a Shelf Registration Statement or a Demand Registration Statement. The Company will furnish to any Qualified Holder named as a selling
securityholder (or selling securityholders) therein, any counsel designated by such Qualified Holder, counsel for the Holders of a Majority of Included Registrable Securities (selected as provided herein) and the managing underwriter or underwriters
(selected as provided herein) of an underwritten Public Offering of Registrable Securities, if applicable, copies of all substantive correspondence from the Commission received in connection with such Public Offering, subject in each case to such
foregoing Persons entering into a customary confidentiality agreement with respect thereto if requested by the Company. The Company will (I) at least two (2) Business Days (or such shorter period as shall be reasonably
practicable under the circumstances) prior to the anticipated filing of the Shelf Registration Statement, a Demand Registration Statement or any related Prospectus or any amendment or supplement thereto, or before using any Issuer Free Writing
Prospectus, furnish to any Qualified Holder named as a selling securityholder (or selling securityholders) therein, any counsel designated by such Qualified Holder and counsel for the Holders of a Majority of Included Registrable Securities
(selected as provided herein) and the managing underwriter or underwriters (selected as provided herein) of an underwritten Public Offering of Registrable Securities, if applicable, copies of all such documents proposed to be filed (subject in each
case to such foregoing Persons entering into a customary confidentiality agreement with respect thereto if requested by the Company), (II) use its commercially reasonable efforts to address in each such document prior to being so filed with the
Commission such comments as any of the foregoing Persons reasonably shall propose and (III) without limiting the Company’s rights under Section 2(f), not include in any Registration Statement or any related Prospectus or any
amendment or supplement thereto information regarding a participating Holder to which a participating Holder reasonably objects; provided, however, the Company shall not be required to provide copies of any amendment or supplement
filed solely to incorporate in any Form S-1 (or other form not providing for incorporation by reference) any filing by the Company under the Exchange Act or any amendment or supplement filed for the purpose of adding additional selling
securityholders thereunder. 
 (b) The Company will as promptly as reasonably practicable (i) prepare and file with the Commission such
amendments, including post-effective amendments, and supplements to each Registration Statement and the Prospectus used in connection therewith as (A) may be reasonably requested by any Holder of Registrable Securities covered by such
Registration Statement necessary to permit such Holder to sell in accordance with its intended method of distribution, to the extent such intended method of distribution is consistent with the applicable plan of distribution, or (B) may be
necessary under applicable law to keep such Registration Statement continuously effective with respect to the disposition of all Registrable Securities covered thereby for the periods provided under Section 2(a) or
Section 2(b), as applicable, in accordance with the intended method of distribution. 

  
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 (c) The Company will make all required filing fee payments in respect of any Registration
Statement or Prospectus used under this Agreement (and any Public Offering covered thereby) within the deadlines specified by the Securities Act. 

(d) The Company will notify each Holder of Registrable Securities named as a selling securityholder in any Registration Statement and the
managing underwriter or underwriters of an underwritten Public Offering of Registrable Securities, if applicable, (i) as promptly as reasonably practicable when any Registration Statement or post-effective amendment thereto has been declared
effective; (ii) of the issuance or threatened issuance by the Commission or any other governmental or regulatory authority of any stop order, injunction or other order or requirement suspending the effectiveness of a Registration Statement
covering any or all of the Registrable Securities or the initiation or threatening of any Proceedings for that purpose; (iii) of the receipt by the Company of any notification with respect to the suspension of the qualification or exemption
from qualification of any of the Registrable Securities for sale in any jurisdiction, or the initiation or threatening of any Proceeding for such purpose; or (iv) of the discovery that, or upon the happening of any event the result of which,
such Registration Statement or Prospectus or Issuer Free Writing Prospectus relating thereto or any document incorporated or deemed to be incorporated therein by reference contains an untrue statement in any material respect or omits any material
fact necessary to make the statements in the Registration Statement or the Prospectus or Issuer Free Writing Prospectus relating thereto (in the case of a Prospectus or an Issuer Free Writing Prospectus, in light of the circumstances under which
they were made) not misleading, or when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the Registration Statement or Prospectus, or if, for any other reason, it shall be necessary during
such time period to amend or supplement such Registration Statement or Prospectus in order to comply with the Securities Act, correct such misstatement or omission or effect such compliance. 

(e) Upon the occurrence of any event contemplated by Section 3(d)(iv), as promptly as reasonably practicable, the
Company will (x) prepare a supplement or amendment, including a post-effective amendment, if required by applicable law, to the affected Registration Statement or a supplement to the related Prospectus or any document incorporated or deemed to
be incorporated therein by reference or to the applicable Issuer Free Writing Prospectus, (y) furnish, if requested, a reasonable number of copies of such supplement or amendment to the selling Holders, their counsel and the managing
underwriter or underwriters of an underwritten Public Offering of Registrable Securities, if applicable, and (z) file such supplement, amendment and any other required document with the Commission so that, as thereafter delivered to the
purchasers of any Registrable Securities, such Registration Statement, such Prospectus or such Issuer Free Writing Prospectus shall not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or
necessary to make the statements therein (in the case of a Prospectus or an Issuer Free Writing Prospectus, in light of the circumstances under which they were made) not misleading, and such Issuer Free Writing Prospectus shall not include
information that conflicts with information contained in the Registration Statement or Prospectus, in each case such that each selling Holder can resume disposition of such Registrable Securities covered by such Registration Statement or Prospectus.
Following receipt of notice of any event contemplated by clauses 3(d)(ii)-(iv), a Holder shall suspend sales of the Registrable Securities pursuant to such Registration Statement and shall not resume sales until such time as it has received written
notice from the Company to such effect. The Company shall provide any supplemented or amended prospectus necessary to resume sales, if requested by any Holder. 

  
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 (f) The Company will use its commercially reasonable efforts to avoid the issuance of, or,
if issued, obtain the withdrawal of (i) any stop order or other order suspending the effectiveness of a Registration Statement or the use of any Prospectus filed pursuant to this Agreement, or (ii) any suspension of the qualification (or
exemption from qualification) of any of the Registrable Securities for sale in any jurisdiction, as promptly as practicable, or if any such order or suspension is made effective during any Suspension Period, as promptly as practicable after the
Suspension Period is over. 
 (g) During the Effectiveness Period or the Shelf Period, as applicable, the Company will furnish to each
selling Holder, its counsel and the managing underwriter or underwriters of an underwritten Public Offering of Registrable Securities, if applicable, upon their request, without charge, at least one conformed copy of each Registration Statement and
each amendment thereto and all exhibits to the extent requested by such selling Holder or underwriter (including those incorporated by reference) promptly after the filing of such documents with the Commission. 

(h) The Company will promptly deliver to each selling Holder and the managing underwriter or underwriters of an underwritten Public Offering of
Registrable Securities, if applicable, without charge, as many copies of the applicable Registration Statement, each amendment and supplement thereto, the Prospectus included in such Registration Statement (including each preliminary Prospectus,
final Prospectus, and any other Prospectus (including any Prospectus filed under Rule 424, Rule 430A or Rule 430B promulgated under the Securities Act and any Issuer Free Writing Prospectus)), all exhibits and other documents filed therewith and
such other documents as such selling Holder or underwriter may reasonably request in order to facilitate the disposition of the Registrable Securities by such selling Holder or underwriter, and upon request, subject to any confidentiality
undertaking as the Company shall reasonably request, a copy of any and all transmittal letters or other correspondence to or received from the Commission or any other governmental authority relating to such offer. Subject to
Section 2(e) hereof, the Company consents to the use of such Prospectus and each amendment or supplement thereto by each of the selling Holders and any applicable underwriter in connection with the offering and sale of the
Registrable Securities covered by such Prospectus and any amendment or supplement thereto. 
 (i) [Reserved.] 

(j) The Company will cooperate with the Holders and the underwriter or managing underwriter of an underwritten Public Offering of Registrable
Securities, if any, to facilitate the timely preparation and delivery of certificates or book-entry statements representing Registrable Securities to be delivered to a transferee pursuant to a Registration Statement, which certificates or book-entry
statements shall be free of all restrictive legends, indicating that the Registrable Securities are unregistered or unqualified for resale under the Securities Act, Exchange Act or other applicable securities laws, and to enable such Registrable
Securities to be in such denominations and registered in such names as any such Holders or the underwriter or managing underwriter of an underwritten Public Offering, as applicable, may reasonably request and instruct

  
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any transfer agent and registrar or trustee of Registrable Securities, if any, may request. In connection therewith, if required by the Company’s transfer agent, the Company will promptly,
after the effective date of the Registration Statement, cause an opinion of counsel as to the effectiveness of the Registration Statement to be delivered to and maintained with such transfer agent, together with any other authorizations,
certificates and directions required by the transfer agent which authorize and direct the transfer agent to issue such Registrable Securities without any such legend upon the sale by any Holder or the underwriter or managing underwriter of an
underwritten Public Offering of Registrable Securities, if any, of such Registrable Securities under the Registration Statement and to release any stop transfer orders in respect thereof. At the request of any Holder or the managing underwriter, if
any, the Company will promptly deliver or cause to be delivered an opinion or instructions to the transfer agent in order to allow the Registrable Securities to be sold from time to time free of all restrictive legends. 

(k) Notwithstanding anything to the contrary contained herein, the right of any Holder to include such Holder’s Registrable Securities in
an underwritten offering shall be conditioned upon (x) such Holder’s participation in such underwriting and the inclusion of such Holder’s Registrable Securities in the underwriting to the extent provided herein, (y) such Holder
entering into customary agreements, including an underwriting agreement in customary form and sell such Holder’s Registrable Securities on the basis provided in any underwriting arrangements approved by the Holders entitled to select the
managing underwriter or managing underwriters hereunder (provided that (I) any such Holder shall not be required to make any representations or warranties to the Company or the underwriters (other than (A) representations and
warranties regarding (1) such Holder’s ownership of its Registrable Securities to be sold or transferred, (2) such Holder’s power and authority to effect such transfer, (3) such matters pertaining to compliance with
securities laws as may be reasonably requested by the Company or the underwriters, (4) the accuracy of information concerning such Holder as provided by or on behalf of such Holder, and (5) any other representations required to be made by
the Holder under applicable law, and (B) such other representations, warranties and other provisions relating to such Holder’s participation in such Public Offering as may be reasonably requested by the underwriters) or to undertake any
indemnification obligations to the Company with respect thereto, except as otherwise provided in Section 6(b) hereof, or to the underwriters with respect thereto, except to the extent of the indemnification being given to
the underwriters and their controlling Persons in Section 6(b) hereof) and (II) and the aggregate amount of the liability of such Holder in connection with such offering shall not exceed such Holder’s net proceeds
from the disposition of such Holder’s Registrable Securities in such offering) and (z) such Holder completing and executing all questionnaires, powers of attorney, custody agreements and other documents reasonably required under the terms
of such underwriting arrangements or by the Company in connection with such underwritten Public Offering. 
 (l) The Company agrees with each
Holder that, in connection with any underwritten Public Offering (including an Underwritten Shelf Takedown), the Company shall: (i) enter into and perform under such customary agreements (including underwriting agreements in customary form,
including customary representations and warranties and provisions with respect to indemnification and contribution) and take all such other actions as the Holders of a Majority of Included Registrable Securities being sold or the underwriters, if
any, reasonably request in order to expedite or facilitate the disposition of such Registrable Securities and provide reasonable cooperation, including causing appropriate officers to attend and participate in “road shows” and

  
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analyst or investor presentations and such other selling or other informational meetings organized by the underwriters, if any (taking into account the needs of the Company’s businesses and
the responsibilities of the Company’s officers with respect thereto). The Company and its management shall not be required to participate in any marketing effort that lasts longer than five (5) Business Days. 

(m) The Company will use commercially reasonable efforts to obtain for delivery to the underwriter or underwriters of an underwritten Public
Offering of Registrable Securities (i) a signed counterpart of one or more comfort letters from independent public accountants of the Company in customary form and covering such matters of the type customarily covered by comfort letters and
(ii) an opinion or opinions from counsel for the Company (including any local counsel reasonably requested by the underwriters) dated the date of the closing under the underwriting agreement, in customary form, scope and substance, covering the
matters customarily covered in opinions requested in sales of securities in an underwritten Public Offering, which opinions shall be reasonably satisfactory to such underwriters and their counsel. 

(n) The Company will (i) provide and cause to be maintained a trustee, transfer agent and registrar for all Registrable Securities covered
by the applicable Registration Statement from and after a date not later than the effective date of such Registration Statement and provide and enter into any reasonable agreements with a custodian for the Registrable Securities and (ii) no
later than the effective date of the applicable Registration Statement, provide a CUSIP number for all Registrable Securities. 
 (o) The
Company will cooperate with each Holder of Registrable Securities and each underwriter or agent, if any, participating in the disposition of Registrable Securities and their respective counsel in connection with any filings required to be made with
FINRA. 
 (p) The Company will, upon reasonable notice and at reasonable times during normal business hours, make available for inspection by
a representative appointed by the Holders of a Majority of Included Registrable Securities, counsel selected by such Holders in accordance with this Agreement, any underwriter participating in any disposition pursuant to such registration, as
applicable, and any other attorney or accountant retained by such underwriter, all financial and other records and pertinent corporate documents of the Company, and cause the Company’s officers, directors, employees and independent accountants
to supply all information reasonably requested by any such Holder, underwriter, attorney or accountant in connection with such Registration Statement or Underwritten Shelf Takedown, as applicable, and make themselves available at mutually convenient
times to discuss the business of the Company and other matters reasonably requested by any such Holders, sellers, underwriter or agent thereof in connection with such Registration Statement as shall be necessary to enable them to exercise their due
diligence responsibility with respect to such Registration Statement or offering, as applicable (any information provided under this Section 3(p), “Due Diligence Information”), subject in each case to the foregoing
persons entering into customary confidentiality and non-use agreements with respect to any confidential information of the Company. The Company shall not provide any Due Diligence Information to a Holder unless such Holder explicitly requests such
Due Diligence Information in writing. 

  
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 (q) The Company will comply with all applicable rules and regulations of the Commission, the
Trading Market, FINRA and any state securities authority, and make available to each Holder, as soon as reasonably practicable after the effective date of the Registration Statement, an earnings statement covering at least twelve (12) months
but not more than eighteen (18) months beginning with the first (1st) full calendar month after the effective date of such Registration Statement, which earnings statement shall satisfy the provisions of Section 11(a) of the
Securities Act and Rule 158 promulgated thereunder (or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such rule). 

(r) The Company will ensure that any Issuer Free Writing Prospectus utilized in connection with any Prospectus complies in all material
respects with the Securities Act, is filed in accordance with the Securities Act to the extent required thereby, and is retained in accordance with the Securities Act to the extent required thereby. 

(s) Each Holder represents that it has not prepared or had prepared on its behalf or used or referred to, and agrees that it will not prepare
or have prepared on its behalf or used or refer to, any Free Writing Prospectus without the prior written consent of the Company and, in connection with any underwritten Public Offering, the underwriters. 

(t) Following the listing of the Second Lien Notes, if any, the Company will use commercially reasonable efforts to cause the Registrable
Securities of the same class, to the extent any further action is required, to be similarly listed and to maintain such listing until such time as the securities cease to constitute Registrable Securities. 

(u) The Company shall, if such registration for an underwritten Public Offering is pursuant to a Registration Statement on Form S-3 or any similar short-form registration, include in such Registration Statement such additional information for marketing purposes as the managing underwriter(s) reasonably request(s). 

(v) The Company shall hold in confidence and not use or make any disclosure of information concerning a Holder provided to the Company without
such Holder’s consent, unless the Company reasonably determines (i) disclosure of such information is necessary to comply with federal or state securities laws, (ii) the disclosure of such information is necessary to avoid or correct
a misstatement or omission in any Registration Statement, (iii) the release of such information is ordered pursuant to a subpoena or other final, non-appealable order from a court or governmental body of
competent jurisdiction, or (iv) such information has been made generally available to the public other than by disclosure in violation of this Agreement or any other agreement known to the Company. The Company agrees that it shall, upon
learning that disclosure of such information concerning a Holder is sought in or by a court or governmental body of competent jurisdiction or through other means or otherwise determining that any such disclosure is required under the foregoing
clauses (i) through (iii), to the extent permitted by applicable law, give prompt written notice to such Holder and allow such Holder, at the Holder’s expense, to undertake appropriate action to prevent disclosure of, or to obtain a
protective order for, such information. 
 (w) The Company agrees that nothing in this Agreement shall prohibit the Holders, at any time and
from time to time, from selling or otherwise transferring Registrable Securities pursuant to a private placement or other transaction which is not registered pursuant to the Securities Act. 

  
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 (x) Notwithstanding anything to the contrary in this Agreement, any Holder may make a
written election (an “Opt-Out Election”) to no longer receive from the Company any Demand Notice, Shelf Takedown Notice, Piggyback Notice or Suspension Notice (other than a Suspension Notice
with respect to a Registration Statement as to which such Holder’s Registrable Securities are, or have been requested to be, included in) (each, a “Covered Notice”), and, following receipt of such
Opt-Out Election, the Company shall not be required to, and shall not, deliver any such Covered Notice to such Holder from the date of receipt of such Opt-Out Election
and such Holder shall have no right to participate in any Registration Statement or Public Offering as to which such Covered Notices pertain. An Opt-Out Election shall remain in effect until it has been
revoked in writing and received by the Company. A Holder who previously has given the Company an Opt-Out Election may revoke such election at any time in writing, and there shall be no limit on the ability of
a Holder to issue and revoke subsequent Opt-Out Elections. 
 (y) For so long as the Company is
subject to the requirements of Section 13, 14 or 15(d) of the Exchange Act, the Company covenants that it will file, in a timely manner, all reports required to be filed by it under the Securities Act and the Exchange Act (or, if the Company is
subject to the requirements of Section 13, 14 or 15(d) of the Exchange Act but is not required to file such reports, it will, upon the request of any Holder, make publicly available such information), make and keep public information available,
as those terms are understood and defined in Rule 144 and take such further action as any Holder may reasonably request so as to enable such Holder to sell Registrable Securities without registration under the Securities Act within the limitation of
the exemptions provided by (a) Rule 144 under the Securities Act, as such Rule may be amended from time to time, or (b) any similar rule or regulation hereafter adopted by the SEC. Upon the reasonable request of a Holder, the Company
will deliver to such Holder a written statement that it has complied with the reporting requirements of Rule 144, the Securities Act and the Exchange Act. 

4. Registration Expenses. Except as otherwise contained herein, the Company shall bear all reasonable Registration Expenses incident to the
Parties’ performance of or compliance with their respective obligations under this Agreement or otherwise in connection with any Demand Registration, Shelf Registration, Shelf Takedown Request or Piggyback Registration (excluding any Selling
Expenses), whether or not any Registrable Securities are sold pursuant to a Registration Statement. In addition, notwithstanding anything to the contrary herein, but without duplication of the immediately preceding sentence or the terms of any other
agreements, the Company shall pay the reasonable fees and disbursements of Kramer Levin Naftalis & Frankel LLP and Milbank LLP (along with one local counsel, to the extent reasonably necessary, for any applicable jurisdiction) incurred on behalf
of the Holders of Registrable Securities that were party to the Restructuring Support Agreement (as defined in the Backstop Commitment Agreement) on the date of its execution in connection with the matters contemplated by this Agreement. 

“Registration Expenses” shall include, without limitation, (i) all registration, qualification and filing fees and
expenses (including fees and expenses (A) of the Commission or FINRA and (B) incurred in connection with the listing of the Registrable Securities on the Trading Market, and (C) in compliance with applicable state securities or
“Blue Sky” laws (including reasonable 

  
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fees and disbursements of counsel for the underwriters in connection with blue sky qualifications of the Registrable Securities as may be set forth in any underwriting agreement)); (ii) expenses
in connection with the preparation, printing, mailing and delivery of any registration statements, prospectuses and other documents in connection therewith and any amendments or supplements thereto (including expenses of printing certificates for
the Company’s Second Lien Notes and printing prospectuses); (iii) analyst or investor presentation or road show expenses of the Company; (iv) messenger, telephone and delivery expenses; (v) reasonable fees and disbursements of counsel
(including any local counsel), auditors and accountants for the Company (including the expenses incurred in connection with “comfort letters” required by or incident to such performance and compliance); (vi) the reasonable fees and
disbursements of underwriters to the extent customarily paid by issuers or sellers of securities (including, if applicable, the fees and expenses of any “qualified independent underwriter” (and its counsel) that is required to be retained
in accordance with the rules and regulations of FINRA and the other reasonable fees and disbursements of underwriters (including reasonable fees and disbursements of counsel for the underwriters) in connection with any FINRA qualification;
(vii) fees and expenses of any special experts retained by the Company; (viii) Securities Act liability insurance, if the Company so desires such insurance; (ix) fees and expenses payable in connection with any ratings of the
Registrable Securities, including expenses relating to any presentations to rating agencies; (x) internal expenses of the Company (including all salaries and expenses of its officers and employees performing legal or accounting duties); (xi)
trustees’, transfer agents’ and registrars’ fees and expenses and the fees and expenses of any other agent appointed in connection with such offering. In addition, the Company shall be responsible for all of its expenses incurred in
connection with the consummation of the transactions contemplated by this Agreement (including expenses payable to third parties and including all salaries and expenses of the Company’s officers and employees performing legal or accounting
duties), the expense of any annual audit and any underwriting fees, discounts, selling commissions and stock transfer taxes and related legal and other fees applicable to securities sold by the Company and in respect of which proceeds are received
by the Company. Each Holder shall pay any Selling Expenses applicable to the sale or disposition of such Holder’s Registrable Securities pursuant to any Demand Registration Statement or Piggyback Offering, or pursuant to any Shelf Registration
Statement under which such selling Holder’s Registrable Securities were sold, and in any other fees and expenses not constituting Registration Expenses in proportion to the amount of such selling Holder’s shares of Registrable Securities
sold in any offering under such Demand Registration Statement, Piggyback Offering or Shelf Registration Statement. 
 5.
Lock-Up Agreements. 
 (a) Holder Lock-Up. In connection with any underwritten
Public Offering of Second Lien Notes expected to result in gross proceeds of at least $75,000,000, if requested by (i) the managing underwriters of such Public Offering and (ii) the Company, in the case of a Company-initiated Public
Offering, or the Holders of a Majority of Included Registrable Securities, in the case of any Underwritten Shelf Takedown or Underwritten Demand pursuant to Section 2(a) or Section 2(b), each Holder of Registrable Securities
participating in such Public Offering shall enter into a customary lock-up agreement with the managing underwriters of such Public Offering to not make any sale or other disposition of any of the Second Lien Notes owned by such Holder (a
“Lock-Up Agreement”); provided that all executive officers and directors of the Company and the Holders requesting such Lock-Up Agreements are bound by and have entered into substantially

  
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similar Lock-Up Agreements; provided, further, that nothing herein shall prevent any Holder from making a distribution of Registrable Securities to any of its partners, members or
stockholders thereof or a transfer of Registrable Securities to an Affiliate that is otherwise in compliance with the applicable securities laws, so long as such distributees or transferees, as applicable, agree to be bound by the restrictions set
forth in this Section 5(a); provided, further, that the foregoing provisions shall only be applicable to the Holders if all securityholders, officers and directors are treated similarly with respect to any release prior to
the termination of the lock-up period such that if any such persons are released, then all Holders shall also be released to the same extent on a pro rata basis. The Company may impose stop-transfer instructions with respect to the Second Lien Notes
(or other securities) subject to the restrictions set forth in this Section 5(a) until the end of the applicable period of the Lock-Up Agreement. The provisions of this Section 5(a) shall cease to apply to such Holder once
such Holder no longer beneficially owns any Registrable Securities. 
 (b) Lock-Up Agreements. The Lock-Up Agreement shall provide
that, unless the underwriters managing such underwritten Public Offering otherwise agree in writing, such Holder shall not (A) offer, sell, contract to sell, pledge or otherwise dispose of (including sales pursuant to Rule 144 or to
Section 1145 of the Bankruptcy Code), directly or indirectly, any Second Lien Notes of the Company (including Second Lien Notes of the Company that may be deemed to be owned beneficially by such Holder in accordance with the rules and
regulations of the Commission) or (B) enter into a transaction which would have the same effect as described in clause (A) above, in each case commencing on the date requested by the managing underwriters (which shall be no
earlier than seven (7) days prior to the anticipated “pricing” date for such Public Offering) and continuing to the date that is ninety (90) days following the date of the final prospectus for such Public Offering
(a “Holdback Period”). 
 (c) Company Lock-Up. In connection with any underwritten Public Offering, and upon the
reasonable request of the managing underwriters, the Company shall: (i) agree to a customary lock-up provision applicable to the Company in an underwriting agreement as reasonably requested by the managing underwriters during any Holdback
Period; and (ii) cause each of its executive officers and directors to enter into Lock-Up Agreements, in each case, in customary form and substance, and with exceptions that are customary, for an underwritten Public Offering of such type
and size. 
 6. Indemnification. 

(a) The Company shall indemnify, defend and hold harmless each Holder, its partners, stockholders, securityholders, equityholders, general
partners, limited partners, managers, members, and Affiliates and each of their respective officers and directors and any Person who controls any such Holder (within the meaning of Section 15 of the Securities Act or Section 20 of
the Exchange Act) and any agent or employee of any of the foregoing (collectively, “Holder Indemnified Persons”), and any underwriter that facilitates the sale of the Registrable Securities and any Person who controls such
underwriter (within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act), to the fullest extent permitted by applicable law, from and against any and all losses, claims, damages, liabilities,
joint or several, costs (including reasonable costs of preparation and investigation and reasonable attorneys’, accountants’ and experts’ fees, whether or not the Indemnified Person is a party to any Proceeding) and expenses,
judgments, fines, penalties, interest, settlements or other amounts arising from any and all Proceedings, 

  
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whether civil, criminal, administrative or investigative, in which any Indemnified Person may be involved, or is threatened to be involved, as a party or otherwise, under the Securities Act or
otherwise (collectively, “Losses”), as incurred, arising out of, based upon, resulting from or relating to (i) any untrue or alleged untrue statement of a material fact contained in any Registration Statement under which any
Registrable Securities were registered, Prospectus, preliminary prospectus, road show, as defined in Rule 433(h)(4) under the Securities Act (a “road show”), or in any summary or final prospectus or Issuer Free Writing Prospectus or
in any amendment or supplement thereto or in any documents incorporated by reference in any of the foregoing or (ii) any omission or alleged omission to state therein a material fact required to be stated therein or necessary, in the
case of any Prospectus, preliminary prospectus, road show or Issuer Free Writing Prospectus, in light of the circumstances under which they were made, to make the statements therein not misleading, or (iii) any violation or alleged
violation by the Company or any of its Subsidiaries of any federal, state or common law rule or regulation relating to action or inaction in connection with any Company-provided information in such registration, disclosure document or related
document or report, and the Company will reimburse such Indemnified Person for any legal or other documented expenses reasonably incurred by it in connection with investigating or defending any such Proceeding; provided,
however, that the Company shall not be liable to any Indemnified Person to the extent that any such Losses arise out of, are based upon or results from an untrue or alleged untrue statement or omission or alleged omission made in such
Registration Statement, such preliminary, summary or final prospectus or Issuer Free Writing Prospectus or such amendment or supplement, in reliance upon and in conformity with written information furnished to the Company by or on behalf of such
Indemnified Person specifically for use in the preparation thereof. 
 (b) In connection with any Registration Statement filed by the Company
pursuant to Section 2 hereof in which a Holder has registered for sale its Registrable Securities, each such selling Holder agrees (severally and not jointly) to indemnify, defend and hold harmless, to the fullest extent permitted by
law, the Company, its directors and officers, Affiliates, employees, members, managers, agents and each Person who controls the Company (within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange
Act) and any agent or employee of any of the foregoing (together with Holder Indemnified Persons, collectively, “Indemnified Persons”), from and against any Losses resulting from (i) any untrue statement of a material
fact contained in any Registration Statement under which such Registrable Securities were registered, Prospectus, preliminary prospectus, road show, Issuer Free Writing Prospectus, or any amendment thereof or supplement thereto or any documents
incorporated by reference therein, or (ii) any omission to state therein a material fact required to be stated therein or necessary, in the case of any Prospectus, preliminary prospectus, road show, Issuer Free Writing Prospectus, in
light of the circumstances under which they were made, to make the statements therein not misleading, in each case to the extent, but only to the extent, that such untrue statement or omission is contained in any information furnished in writing by
or on behalf of such selling Holder to the Company specifically for inclusion therein and has not been corrected in a subsequent writing prior to the sale of the Registrable Securities. In no event shall the liability of any selling Holder hereunder
be greater in amount than the dollar amount of the net proceeds (after deducting underwriters’ discounts, fees and commissions) received by such Holder under the sale of Registrable Securities giving rise to such indemnification obligation less
any amounts paid (including such Holder’s share of any other Selling Expenses) by such Holder in connection with such sale and any amounts paid by such Holder as a result of liabilities incurred under the underwriting agreement, if any, related
to such sale. 

  
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 (c) Any Indemnified Person shall give prompt written notice to the indemnifying party of any
claim with respect to which it seeks indemnification under this Section 6 (provided that any delay or failure to so notify the Person obligated to indemnify the Indemnified Person with respect to such claim (the
“indemnifying party”) shall not relieve the indemnifying party of its obligations hereunder except to the extent, if at all, that it is actually and materially prejudiced by reason of such delay or failure). The indemnifying party
shall be entitled to assume the defense of such claim with counsel reasonably satisfactory to the Indemnified Person; provided, however, that any Indemnified Person shall have the right to select and employ its own counsel (and one
local counsel in each relevant jurisdiction), and the indemnifying party shall bear the reasonable documented fees, costs and expenses of such separate counsel if (A) the Indemnified Person has reasonably concluded (based upon advice of its
counsel) that there may be legal defenses available to it or other Indemnified Persons that are different from or in addition to those available to the indemnifying party, or (B) in the reasonable judgment of any such Indemnified Person (based
upon advice of its counsel) a conflict of interest may exist between such Indemnified Person and the indemnifying party with respect to such claims; (C) the indemnifying party shall not have employed counsel satisfactory to the Indemnified
Person to represent the Indemnified Person within a reasonable time after notice of the institution of such action; (D) the indemnifying party shall authorize the Indemnified Person to employ separate counsel at the expense of the indemnifying
party; or (E) the indemnifying party shall have failed to assume the defense of such claim within a reasonable time after receipt of notice of such claim from the Indemnified Person and employ counsel reasonably satisfactory to such Indemnified
Person. An indemnifying party shall not be liable under this Section 6(c) to any Indemnified Person regarding any settlement or compromise or consent to the entry of any judgment with respect to any pending or threatened
claim, action, suit or proceeding in respect of which indemnification or contribution may be sought hereunder (whether or not the Indemnified Person is an actual or potential party to such claim or action) unless such settlement, compromise or
consent is consented to by such indemnifying party, which consent shall not be unreasonably withheld, conditioned or delayed. No action may be settled without the written consent of the Indemnified Person, which consent shall not be unreasonably
withheld, conditioned or delayed, provided that the consent of the Indemnified Person shall not be required if (A) such settlement includes an unconditional release of such Indemnified Person in form and substance satisfactory to such
Indemnified Person from all liability on the claims that are the subject matter of such settlement, (B) such settlement provides for the payment by the indemnifying party of money as the sole relief for such action, and (C) such settlement
does not include any statement as to or any admission of fault, culpability or a failure to act by or on behalf of any Indemnified Person. It is understood that the indemnifying party or parties shall not, except as specifically set forth in this
Section 6(c), in connection with any Proceeding or related Proceedings in the same jurisdiction, be liable for the reasonable fees, disbursements or other charges of more than one separate firm admitted to practice in such
jurisdiction at any one time. 
 (d) In the event that the indemnity provided in Section 6(a) or
Section 6(b) above is unavailable to or insufficient to hold harmless an Indemnified Person for any reason, then each applicable indemnifying party agrees to contribute to the aggregate Losses (including reasonable costs of
preparation and investigation and reasonable attorneys’, accountants’ and experts’ fees, 

  
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whether or not the Indemnified Person is a party to any Proceeding) to which such indemnifying party may be subject in such proportion as is appropriate to reflect the relative benefits received
by the indemnifying party on the one hand and by the Indemnified Person on the other from the Public Offering of Second Lien Notes; provided, however, that the maximum amount of liability in respect of such contribution shall be
limited in the case of any Holder to the net proceeds (after deducting underwriters’ discounts, fees and commissions and other Selling Expenses) received by such Holder in connection with such registration. If, however, the allocation provided
by the immediately preceding sentence is not permitted by applicable law, then each indemnifying party shall contribute to such amount paid or payable by such Indemnified Person in such proportion as is appropriate to reflect not only such relative
benefits but also the relative fault of the indemnifying party on the one hand and the Indemnified Person on the other in connection with the statements or omissions which resulted in such Losses, as well as any other relevant equitable
considerations. The relative fault shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information
supplied by the indemnifying party on the one hand or the Indemnified Person on the other and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. 

(e) The Parties agree that it would not be just and equitable if contribution pursuant to Section 6(d) were
determined by pro rata allocation (even if the Holders of Registrable Securities or any agents or underwriters or all of them were treated as one entity for such purpose) or by any other method of allocation which does not take account of the
equitable considerations referred to above in Section 6(d). The amount paid or payable by an Indemnified Person as a result of the Losses referred to above in Section 6(d) shall be deemed to
include any reasonable legal or other reasonable documented out-of-pocket expenses incurred by such Indemnified Person in connection with investigating or defending any
such action or claim. 
 (f) Notwithstanding the provisions of Section 6(d), no Person guilty of fraudulent
misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. 

(g) For purposes of Section 6(d), each Person who controls any Holder, agent or underwriter (within the meaning of
Section 15 of the Securities Act or Section 20 of the Exchange Act), and each director, officer, employee and agent of any such Holder, agent or underwriter, shall have the same rights to contribution as such Holder, agent or underwriter,
and each Person who controls the Company (within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act) and each officer and director of the Company shall have the same rights to contribution as the Company
subject in each case to the applicable terms and conditions of this Section 6(g). 
 (h) The provisions of this
Section 6 will remain in full force and effect, regardless of any investigation made by or on behalf of any Holder or the Company or any of the officers, directors or controlling Persons referred to in this
Section 6 hereof, and will survive the transfer of Registrable Securities. 
 (i) The remedies provided for in this
Section 6 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any Indemnified Person at law or in equity. 

  
 - 31 - 

 7. Miscellaneous. 

(a) Specific Performance; Remedies. Each Party acknowledges and agrees that the other Parties would be damaged irreparably if any
provision of this Agreement were not performed in accordance with its specific terms or were otherwise breached and each Party further agrees that it shall not oppose any such demand for specific performance on the basis that monetary damages are
available. Accordingly, the Parties will be entitled to an injunction or injunctions to prevent breaches of the provisions of this Agreement and to enforce specifically this Agreement and its provisions in any action or proceeding instituted in any
court of the United States or any state thereof having jurisdiction over the parties and the matter, in addition to any other remedy to which they may be entitled, at law or in equity. Except as expressly provided herein, the rights, obligations and
remedies created by this Agreement are cumulative and in addition to any other rights, obligations or remedies otherwise available at law or in equity. Except as expressly provided herein, nothing herein will be considered an election of remedies.
The Parties agree that monetary damages would not provide adequate compensation for any losses incurred by reason of a breach by it of any of the provisions of this Agreement and further agree that, in the event of any action for specific
performance in respect of such breach, it shall waive the defense that a remedy at law would be adequate and shall waive any requirement for the posting of a bond or other security. 

(b) Discontinued Disposition. Each Holder agrees by its acquisition of Registrable Securities that, upon receipt of a notice from the
Company of the occurrence of any event of the kind described in clauses (ii) through (iv) of Section 3(d) or the occurrence of a Suspension Period, such Holder will forthwith discontinue disposition of such Registrable
Securities under the Registration Statement until such Holder’s receipt of the copies of the supplemental Prospectus or amended Registration Statement or until it is advised in writing by the Company that the use of the applicable Prospectus
may be resumed, and, in either case, has received copies of any additional or supplemental filings that are incorporated or deemed to be incorporated by reference in such Prospectus or Registration Statement. The Company may provide appropriate stop
orders to enforce the provisions of this Section 7(b). In the event the Company shall give any such notice, the period during which the applicable Registration Statement is required to be maintained effective shall be
extended by the number of days during the period from and including the date of the giving of such notice to and including the date when each seller of Registrable Securities covered by such Registration Statement either receives the copies of the
supplemented or amended Prospectus or is advised in writing by the Company that the use of the Prospectus may be resumed. 
 (c)
Amendments. This Agreement may be amended, modified, extended or terminated, and the provisions hereof may be waived, only with (i) the prior written consent of the Company and (ii) the affirmative vote of Holders of a Majority of
Registrable Securities; provided that in no event shall the obligations of any Holder of Registrable Securities be increased or the rights of any Holder be materially adversely affected (without similarly increasing or adversely affecting the
rights of all Holders), except with the written consent of such Holder; provided further, that Section 3(y) shall not be amended except with the affirmative vote of Holders of 75% of Registrable Securities.
Notwithstanding the foregoing, a waiver or consent to depart from the provisions hereof with respect to a matter that relates exclusively to the rights of Holders of Registrable Securities whose securities are being sold pursuant to a Registration
Statement and that does not directly or indirectly affect the rights of other Holders of Registrable Securities may be given by Holders of at least a majority of the Registrable Securities being sold by such Holders pursuant to such Registration
Statement. 

  
 - 32 - 

 (d) Waivers. No waiver by any Party of any default, misrepresentation or breach of
warranty or covenant hereunder, whether intentional or not, may be deemed to extend to any prior or subsequent default, misrepresentation or breach of warranty or covenant hereunder or affect in any way any rights arising because of any such prior
or subsequent occurrence. Neither the failure nor any delay on the part of any Party to exercise any right or remedy under this Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of any right or remedy preclude any
other or further exercise of the same or of any other right or remedy. 
 (e) Termination and Effect of Termination. This Agreement
shall terminate with respect to each Holder when such Holder no longer holds any Registrable Securities and will terminate in full when no Holder holds any Registrable Securities, except for the provisions of Section 6,
which shall survive any such termination. No termination under this Agreement shall relieve any Person of liability for breach or Registration Expenses incurred prior to termination. In the event this Agreement is terminated, each Person entitled to
indemnification rights pursuant to Section 6 shall retain such indemnification rights with respect to any matter that (i) may be an indemnified liability thereunder and (ii) occurred prior to such termination.

 (f) Notices. Any and all notices or other communications or deliveries required or permitted to be provided hereunder shall be in
writing and shall be deemed given and effective on the earliest of (i) the date of transmission, if such notice or communication is delivered via facsimile (with confirmation of delivery) or electronic mail in PDF or similar electronic or
digital format (with confirmation of receipt) at or prior to 5:00 p.m. (New York time) on a Business Day in the place of receipt, (ii) the Business Day after the date of transmission, if such notice or communication is delivered via facsimile
(with confirmation of delivery) or electronic mail in PDF or similar electronic or digital format (with confirmation of receipt) later than 5:00 p.m. (New York time) on any date and at or prior to 11:59 p.m. (New York time) on such date,
(iii) the Business Day following the date of mailing, if sent by nationally recognized overnight courier service and (iv) upon actual receipt by the Party to whom such notice is required to be given. The address for such notices and
communications shall be as follows (or at such other address as shall be given in writing by any Party to the other Parties): 
 If to the
Company: 
 Noble Finance Company 

13135 Dairy Ashford Rd. Ste. 800 

Sugar Land, TX 77478 

Attention:         William Turcotte 

E-Mail:
            wturcotte@noblecorp.com 
 If to any other Person who is then a Holder, to the
address of such Holder as it appears on the signature pages hereto or such other address as may be designated in writing hereafter by such Person. 

  
 - 33 - 

 (g) Successors and Assigns; Transfers; New Issuances. This Agreement shall be binding
upon and inure to the benefit of the Parties hereto and their respective heirs, executors, administrators, successors and legal representatives. The rights of a Holder hereunder may be transferred, assigned, or otherwise conveyed on a pro rata basis
in connection with any transfer, assignment, or other conveyance of Registrable Securities to any transferee or assignee; provided that all of the following additional conditions are satisfied with respect to any transfer, assignment or
conveyance of rights hereunder: (i) such transfer or assignment is made in compliance with the Securities Act, any other applicable securities or “blue sky” laws, or rules or regulations promulgated by FINRA, and the terms and
conditions of the organizational documents of the Company; (ii) such transferee or assignee shall have delivered to the Company a joinder agreement in substantially the form attached hereto as Exhibit A agreeing to become subject
to and bound by the terms of this Agreement; and (iii) the Company is given written notice by such Holder of such transfer or assignment, stating the name and address of the transferee or assignee, identifying the Registrable Securities
with respect to which such rights are being transferred or assigned and the aggregate principal amount of Registrable Securities beneficially owned by such transferee or assignee. Notwithstanding any other provision of this Agreement to the
contrary, the Company shall not transfer or assign its rights or obligations hereunder without the prior written consent of each Holder. 

(h) Governing Law. This Agreement, and any claim, controversy or dispute arising under or related to this Agreement, shall be governed
by, and construed in accordance with, the laws of the State of New York. 
 (i) Submission to Jurisdiction. Each of the Parties, by
its execution of this Agreement, (i) hereby irrevocably submits to the exclusive jurisdiction of the United States District Court for the Southern District of New York and the state courts sitting in the State of New York, County of New York
for the purpose of any Proceeding arising out of or based upon this Agreement or relating to the subject matter hereof, (ii) hereby waives to the extent not prohibited by applicable law, and agrees not to assert, and agrees not to allow any of
its Subsidiaries to assert, by way of motion, as a defense or otherwise, in any such action, any claim that it is not subject personally to the jurisdiction of the above-named courts, that its property is exempt or immune from attachment or
execution, that any such Proceeding brought in one of the above-named courts is improper, or that this Agreement or the subject matter hereof or thereof may not be enforced in or by such court and (iii) hereby agrees not to commence or maintain
any Proceeding arising out of or based upon this Agreement or relating to the subject matter hereof or thereof other than before one of the above-named courts nor to make any motion or take any other action seeking or intending to cause the transfer
or removal of any such Proceeding to any court other than one of the above-named courts whether on the grounds of inconvenient forum or otherwise. Notwithstanding the foregoing, to the extent that any party hereto is or becomes a party in any
litigation in connection with which it may assert indemnification rights set forth in this Agreement, the court in which such litigation is being heard shall be deemed to be included in clause (i) above. Notwithstanding the foregoing, any party
to this Agreement may commence and maintain an action to enforce a judgment of any of the above-named courts in any court of competent jurisdiction. Each party hereto hereby consents to service of process in any such Proceeding in any manner
permitted by New York law, and agrees that service of process by registered or certified mail, return receipt requested, at its address specified pursuant to Section 7(f) hereof is reasonably calculated to give actual
notice. 

  
 - 34 - 

 (j) Waiver of Venue. The Parties irrevocably and unconditionally waive, to the
fullest extent permitted by applicable law, (i) any objection that they may now or hereafter have to the laying of venue of any Proceeding arising out of or relating to this Agreement in any court referred to in
Section 7(i) and (ii) the defense of an inconvenient forum to the maintenance of such Proceeding in any such court. 

(k) WAIVER OF JURY TRIAL. EACH PARTY ACKNOWLEDGES THAT ANY DISPUTE THAT MAY ARISE OUT OF OR RELATING TO THIS AGREEMENT IS LIKELY TO
INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE SUCH PARTY HEREBY EXPRESSLY WAIVES ITS RIGHT TO JURY TRIAL OF ANY DISPUTE BASED UPON OR ARISING OUT OF THIS AGREEMENT OR ANY OTHER AGREEMENTS RELATING HERETO OR ANY DEALINGS AMONG THEM RELATING
TO THE TRANSACTIONS CONTEMPLATED HEREBY. THE SCOPE OF THIS WAIVER IS INTENDED TO ENCOMPASS ANY AND ALL ACTIONS, SUITS AND PROCEEDINGS THAT RELATE TO THE SUBJECT MATTER OF THE TRANSACTIONS CONTEMPLATED HEREBY, INCLUDING CONTRACT CLAIMS, TORT CLAIMS,
BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW AND STATUTORY CLAIMS. EACH PARTY REPRESENTS THAT (i) NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT IN THE EVENT OF ANY
ACTION, SUIT OR PROCEEDING, SEEK TO ENFORCE THE FOREGOING WAIVER, (ii) SUCH PARTY UNDERSTANDS AND WITH THE ADVICE OF COUNSEL HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER, (iii) SUCH PARTY MAKES THIS WAIVER VOLUNTARILY AND (iv) SUCH PARTY HAS
BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND REPRESENTATIONS IN THIS SECTION 7(k). 
 (l)
Severability. If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction to be invalid, illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set
forth herein shall remain in full force and effect and shall in no way be affected, impaired or invalidated, and the Parties shall use their commercially reasonable efforts to find and employ an alternative means to achieve the same or substantially
the same result as that contemplated by such term, provision, covenant or restriction. It is hereby stipulated and declared to be the intention of the Parties that they would have executed the remaining terms, provisions, covenants and restrictions
without including any of such that may be hereafter declared invalid, illegal, void or unenforceable. 
 (m) Entire Agreement.
This Agreement constitutes the entire agreement among the Parties with respect to the subject matter hereof and supersedes all prior contracts or agreements with respect to the subject matter hereof and supersedes any and all prior or
contemporaneous discussions, agreements and understandings, whether oral or written, that may have been made or entered into by or among any of the Parties or any of their respective Affiliates relating to the transactions contemplated hereby. 

(n) Execution of Agreement. This Agreement may be executed and delivered (by facsimile, by electronic mail PDF or otherwise) in any
number of counterparts, each of which, when executed and delivered, shall be deemed an original, and all of which together shall constitute the same agreement. 

  
 - 35 - 

 (o) Determination of Ownership. In determining ownership of Second Lien Notes
hereunder for any purpose, the Company may rely solely on the records of the registrar or Indenture trustee for the Second Lien Notes from time to time, or, if no such registrar or Indenture trustee exists, the Company’s ledger. 

(p) Headings; Section References. The headings in this Agreement are for convenience of reference only and shall not limit or otherwise
affect the meaning hereof. 
 (q) No Recourse. Notwithstanding anything that may be expressed or implied in this Agreement, and
notwithstanding the fact that certain of the Holders may be partnerships or limited liability companies, each of the Holders and the Company agrees and acknowledges that no recourse under this Agreement or any documents or instruments delivered in
connection with this Agreement shall be had against any of the Company’s or the Holder’s former, current or future direct or indirect equity holders, controlling persons, stockholders, directors, officers, employees, agents,
Representatives, Affiliates, members, financing sources, managers, general or limited partners or assignees (each, a “Related Party” and collectively, the “Related Parties”), in each case other than the Company, the
current or former Holders or any of their respective assignees under this Agreement, whether by the enforcement of any assessment or by any legal or equitable Proceeding, or by virtue of any applicable law, it being expressly agreed and acknowledged
that no personal liability whatsoever shall attach to, be imposed on or otherwise be incurred by any of the Related Parties, as such, for any obligation or liability of the Company or the Holders under this Agreement or any documents or instruments
delivered in connection herewith for any claim based on, in respect of or by reason of such obligations or liabilities or their creation; provided, however, nothing in this Section 7(q) shall relieve or
otherwise limit the liability of the Company or any current or former Holder, as such, for any breach or violation of its obligations under this Agreement or such agreements, documents or instruments. 

(r) Descriptive Headings; Interpretation; No Strict Construction. Unless the context requires otherwise: (i) any pronoun used in
this Agreement shall include the corresponding masculine, feminine or neuter forms; (ii) references to Sections, paragraphs and clauses refer to Sections, paragraphs and clauses of this Agreement; (iii) the terms
“include,” “includes,” “including” or words of like import shall be deemed to be followed by the words “without limitation”; (iv) the terms “hereof,”
“herein” or “hereunder” refer to this Agreement as a whole and not to any particular provision of this Agreement; (v) unless the context otherwise requires, the term “or” is not exclusive and shall
have the inclusive meaning of “and/or”; (vi) defined terms herein will apply equally to both the singular and plural forms and derivative forms of defined terms will have correlative meanings; (vii) references to any law or statute
shall be deemed to refer to such law or statute as amended or supplemented from time to time and shall include all rules and regulations and forms promulgated thereunder, and references to any law, rule, form or statute shall be construed as
including any legal and statutory provisions, rules or forms consolidating, amending, succeeding or replacing the applicable law, rule, form or statute; (viii) references to any agreement or contract are to that agreement or contract as
amended, modified or supplemented from time to time in accordance with the terms hereof and thereof; (ix) references to any Person include such Person’s successors and permitted assigns; (x) references to “days” are to
calendar 

  
 - 36 - 

 
days unless otherwise indicated; and (xi) references to “writing”, “written” and comparable terms refer to printing, typing and other means of reproducing words
(including electronic media) in a visible form. Each of the parties hereto acknowledges that each party was actively involved in the negotiation and drafting of this Agreement and agrees that no law or rule of construction shall be raised or used in
which the provisions of this Agreement shall be construed in favor or against any party hereto because one is deemed to be the author thereof. All references to laws, rules, regulations and forms in this Agreement shall be deemed to be references to
such laws, rules, regulations and forms, as amended from time to time or, to the extent replaced, the comparable successor thereto in effect at the time. All references to agencies, self-regulatory organizations or governmental entities in this
Agreement shall be deemed to be references to the comparable successors thereto from time to time. 
 (s) Exchanges, etc. The Company
shall cause any successor or assign (whether by merger, consolidation, sale of assets or otherwise) to assume the obligations of the Company under this Agreement or enter into a new registration rights agreement with the Holders on terms
substantially the same as this Agreement as a condition of any such transaction. 
 (t) Aggregation. All Registrable Securities owned
or acquired by any Holder or its Affiliated entities or Persons (assuming full conversion, exchange and exercise of all convertible, exchangeable and exercisable securities into Registrable Securities) shall be aggregated together for the purpose of
determining the availability of any right under this Agreement, and for purposes concerning any underwriting cutback provision, any such Holder and its Affiliates shall be deemed to be a single participating Holder, and any proportionate reduction
with respect to such participating Holder shall be based upon the aggregate principal amount of Registrable Securities owned by all Persons included in such participating Holder. 

(u) Further Assurances. Each of the Parties to this Agreement shall, and shall cause their Affiliates to, execute and deliver such
additional documents, instruments, conveyances and assurances and take such further actions as may be reasonably required to carry out the provisions hereof and to give effect to the transactions contemplated hereby. 

(v) No Third-Party Beneficiaries. This Agreement is for the sole benefit of the Parties hereto (including any future parties pursuant to
Section 7(g)) and their respective successors and permitted assigns and nothing herein, express or implied, is intended to or shall confer upon any other Person any legal or equitable right, benefit or remedy of any nature whatsoever,
under or by reason of this Agreement. 
 [Signature Pages Follow] 

  
 - 37 - 

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

			
	NOBLE FINANCE COMPANY
		
	By:	 	 /s/ Richard B. Barker

	Name:	 	Richard B. Barker
	Title:	 	 Senior Vice President, Chief

Financial Officer, and Director

  
 [Signature Page to
Registration Rights Agreement – Notes] 

 IN WITNESS WHEREOF, the Parties hereto have executed this Registration Rights
Agreement on the date first written above. 
  

			
	AVENUE ENERGY OPPORTUNITIES FUND II, L.P.
	
	By: Avenue Energy Opportunities Partners II, LLC, its General Partner
	
	By: GL Energy Opportunities Partners II, LLC, its Managing Member
		
	By:	 	 /s/ Sonia Gardner

	Name:	 	 Sonia Gardner

	Title:	 	 Authorized Signatory

  

	
	 Address:

	 11 West 42nd Street, 9th Floor

	 New York, NY 10036

	 Attn: Matthew Kimble

	 Email: mkimble@avenuecapital.com

  
 [Signature Page to
Registration Rights Agreement – Notes] 

 IN WITNESS WHEREOF, the Parties hereto have executed this Registration Rights
Agreement on the date first written above. 
  

			
	AVENUE ENERGY OPPORTUNITIES FUND II AIV, L.P.
	
	By: Avenue Energy Opportunities Partners II, LLC, its General Partner
	
	By: GL Energy Opportunities Partners II, LLC, its Managing Member
		
	By:	 	 /s/ Sonia Gardner

	Name:	 	 Sonia Gardner

	Title:	 	 Authorized Signatory

  

	
	 Address:

	 11 West 42nd Street, 9th Floor

	 New York, NY 10036

	 Attn: Matthew Kimble

	 Email: mkimble@avenuecapital.com

  
 [Signature Page to
Registration Rights Agreement – Notes] 

 IN WITNESS WHEREOF, the Parties hereto have executed this Registration Rights
Agreement on the date first written above. 
  

			
	PACIFIC INVESTMENT MANAGEMENT COMPANY LLC, on behalf of each Holder identified in Annex A attached hereto1, for which it serves as investment manager, adviser
or sub-adviser
		
	By:	 	 /s/ Jonathan Horne

	Name:	 	Jonathan Horne
	Title:	 	Managing Director

  

	
	Address:
	 Pacific Investment Management Company LLC
 650
Newport Center Drive

	Newport Beach, CA 92660
	Attn: The Control Group
	Email: controlgroupNB@pimco.com

  

	1 	 The obligations arising out of this instrument are several and not joint with respect to each participating
Backstop Party, in accordance with its Registrable Securities, and the parties agree not to proceed against any Backstop Party for the obligations of another. To the extent a Backstop Party is a registered investment company (“Trust”) or a
series thereof, a copy of the Declaration of Trust of such Trust is on file with the Secretary of State of The Commonwealth of Massachusetts or Secretary of State of the State of Delaware. The obligations of or arising out of this instrument are not
binding upon any of such Trust’s trustees, officers, employees, agents or shareholders individually, but are binding solely upon the assets and property of the Trust in accordance with its Registrable Securities. If this instrument is executed
by or on behalf of a Trust on behalf of one or more series of the Trust, the assets and liabilities of each series of the Trust are separate and distinct and the obligations of or arising out of this instrument are binding solely upon the assets or
property of the series on whose behalf this instrument is executed. If this agreement is being executed on behalf of more than one series of a Trust, the obligations of each series hereunder shall be several and not joint, in accordance with its
Registrable Securities, and the parties agree not to proceed against any series for the obligations of another. 

 The
obligations of or arising out of this instrument are not binding upon the PIMCO Bermuda Trust II’s (the “Bermuda Trust”) trustee, or any officer, director, employee, agent or servant or any other person appointed by the trustee, or
unitholders individually, but are binding solely upon the assets and property of the Bermuda Trust in accordance with its Registrable Securities. If this instrument is executed by or on behalf of the Bermuda Trust on behalf of one or more series of
the Bermuda Trust, the assets and liabilities of each series of the Bermuda Trust are separate and distinct and the obligations of or arising out of this instrument are binding solely upon the assets or property of the series on whose behalf this
instrument is executed. 
 PIMCO Funds: Global Investors Series plc is an Irish umbrella company with segregated liability between
sub-funds. As a result, as a matter of Irish law, any liability attributable to a particular sub-fund may only be discharged out of the assets of that sub-fund and the assets of other sub-funds may not be used to satisfy the limited liability of
that sub-fund. 
 To the extent a Backstop Party is a trust established under the laws of a province or territory of Canada (a
“Canadian Trust”), the obligations of or arising out of this instrument are not binding upon (i) the Canadian Trust’s trustee or investment fund manager, (ii) any officer, director, employee or agent of the Canadian Trust’s
trustee or investment fund manager, or (iii) any unitholder of the Canadian Trust, but are binding solely upon the property of the Canadian Trust in accordance with its Registrable Securities. 

  
 [Signature Page to
Registration Rights Agreement – Notes] 

 Annex A 

Holder 
 Bakery and Confectionery Union and
Industry International Pension Fund 
 Bridge Builder Trust: Bridge Builder Core Plus Bond Fund 

Lehigh Valley Hospital, Inc. 
 Obligations à Haut Rendement
a sub-fund of RP – Fonds institutionnel 
 PIMCO Bermuda Trust II: PIMCO Bermuda Income Fund (M) 

PIMCO Bermuda Trust II: PIMCO Bermuda Low Duration Income Fund 

BMO Global Strategic Bond Fund 
 Northwestern Mutual Series Fund
Inc. Multi-Sector Bond Portfolio 
 Public Service Company of New Mexico 

State Universities Retirement System 
 Texas Children’s
Hospital Foundation 
 The Curators of the University of Missouri 

PIMCO Variable Insurance Trust: PIMCO Income Portfolio 
 PIMCO
Strategic Income Fund, Inc. 
 PIMCO Funds: PIMCO High Yield Fund 

PCM Fund, Inc. 
 PIMCO Corporate & Income Strategy Fund

 PIMCO Corporate & Income Opportunity Fund 
 PIMCO
High Income Fund 
 PIMCO Income Strategy Fund II 
 PIMCO Income
Strategy Fund 
 PIMCO Funds: PIMCO High Yield Spectrum Fund 

PIMCO Flexible Credit Income Fund 
 PIMCO Equity Series: PIMCO
Dividend and Income Fund 
 PIMCO Funds: PIMCO Low Duration Income Fund 

PIMCO Funds: PIMCO Diversified Income Fund 
 PIMCO Funds: PIMCO
Income Fund 
 PIMCO Dynamic Credit and Mortgage Income Fund 

PIMCO Global StocksPLUS & Income Fund 
 PIMCO Income
Opportunity Fund 
 PIMCO Dynamic Income Fund 
 PIMCO Monthly
Income Fund (Canada) 
 PIMCO Low Duration Monthly Income Fund (Canada) 

PIMCO Global Income Opportunities Fund 
 PIMCO Funds: Global
Investors Series plc, US High Yield Bond Fund 
 PIMCO Funds: Global Investors Series plc, Income Fund 

PIMCO Funds: Global Investors Series plc, Global High Yield Bond Fund 

PIMCO Funds: Global Investors Series plc, Diversified Income Fund 

PIMCO Funds: Global Investors Series plc, Diversified Income Duration Hedged Fund 

PIMCO Funds: Global Investors Series plc, Strategic Income Fund 

PIMCO Funds: Global Investors Series plc, Low Duration Income Fund 

EP Tactical Portfolios, L.P. 
 PIMCO Horseshoe Fund, LP 

PIMCO Tactical Opportunities Master Fund Ltd. 
 OC II LVS I LP

 PIMCO Global Credit Opportunity Master Fund LDC 

  
 [Signature Page to
Registration Rights Agreement – Notes] 

 IN WITNESS WHEREOF, the Parties hereto have executed this Registration Rights
Agreement on the date first written above. 
  

			
	GTAM 110 Designated Activity Company
		
	By:	 	 /s/ John DeMartino

	Name:	 	 John DeMartino

	Title:	 	 Authorized Signatory

	
	Address: 300 Park Ave, 21st floor
		 	   New York, NY 10022
	Attn:	 	John DeMartino
	Email:	 	Corporateactions@goldentree.com;
		 	JDemartino@goldentree.com;
		 	TFaisal@goldentree.com;
		 	LRiehl@goldentree.com;

  
 [Signature Page to
Registration Rights Agreement – Notes] 

 IN WITNESS WHEREOF, the Parties hereto have executed this Registration Rights
Agreement on the date first written above. 
  

			
	GT NM, LP
		
	By:	 	 /s/ John DeMartino

	Name:	 	 John DeMartino

	Title:	 	 Authorized Signatory

	
	Address: 300 Park Ave, 21st floor
		 	   New York, NY 10022
	Attn:	 	John DeMartino
	Email:	 	Corporateactions@goldentree.com;
		 	JDemartino@goldentree.com;
		 	TFaisal@goldentree.com;
		 	LRiehl@goldentree.com;

  
 [Signature Page to
Registration Rights Agreement – Notes] 

 IN WITNESS WHEREOF, the Parties hereto have executed this Registration Rights
Agreement on the date first written above. 
  

			
	 San Bernardino County Employees

Retirement Association

		
	By:	 	 /s/ John DeMartino

	Name:	 	 John DeMartino

	Title:	 	 Authorized Signatory

	
	Address: 300 Park Ave, 21st floor
		 	   New York, NY 10022
	Attn:	 	John DeMartino
	Email:	 	Corporateactions@goldentree.com;
		 	JDemartino@goldentree.com;
		 	TFaisal@goldentree.com;
		 	LRiehl@goldentree.com;

  
 [Signature Page to
Registration Rights Agreement – Notes] 

 IN WITNESS WHEREOF, the Parties hereto have executed this Registration Rights
Agreement on the date first written above. 
  

			
	DIETMAR KIRSTEIN
		
	By:	 	 /s/ Dietmar Kirstein

	Name:	 	 Dietmar Kirstein

	
	Address:
	[REDACTED PERSONALLY IDENTIFIABLE INFORMATION]

  
 [Signature Page to
Registration Rights Agreement – Notes] 

 IN WITNESS WHEREOF, the Parties hereto have executed this Registration Rights
Agreement on the date first written above. 
  

			
	LMR MASTER FUND LIMITED
		
	By:	 	 /s/ Alex Mitchell

	Name:	 	Alex Mitchell
	Title:	 	 General Counsel, LMR Partners LLC,
 acting in
its capacity as investment manager of LMR Master Fund Limited

	
	Address:
	c/o LMR Partners LLC
	363 Lafayette Street, 10th Floor
	New York, NY 10012
	Attn: Legal, Operations
	Email: legal@lmrpartners.com
	Email: ops@lmrpartners.com

  
 [Signature Page to
Registration Rights Agreement – Notes] 

 IN WITNESS WHEREOF, the Parties hereto have executed this Registration Rights
Agreement on the date first written above. 
  

			
	GOLDMAN SACHS ASSET MANAGEMENT, L.P., solely in its capacity as manager or advisor to the following funds and accounts and not as principal:
	
	• GLOBAL HIGH YIELD PORTFOLIO II
	• HURRICANE MILLENNIUM HOLDINGS LTD.
	• GOLDMAN SACHS HIGH YIELD FUND
	• GOLDMAN SACHS GLOBAL HIGH YIELD PORTFOLIO
	• CORPORATE CREDIT INVESTMENT STRATEGIES LLC
	• CORPORATE CREDIT INVESTMENT FUND
	• GOLDMAN SACHS LONG SHORT CREDIT STRATEGIES FUND
	• GOLDMAN SACHS SHORT DURATION OPPORTUNISTIC CORPORATE BOND PORTFOLIO
	• SALI MULTI-SERIES FD VIII, L.P. – YIELD OPP (INSR DEDI) FD SERS
	• GOLDMAN SACHS INCOME BUILDER FUND
	• NATIONAL BANK INVESTMENTS INC.
	• UBS FUND MANAGEMENT (LUXEMBOURG) S.A.
	• SIDERA FUNDS SICAV – GLOBAL HIGH YIELD
	• FACTORY MUTUAL INSURANCE COMPANY
	• GOLDMAN SACHS GLOBAL MULTI-ASSET INCOME PORTFOLIO
		
	By:	 	 /s/ Katelyn Seager

	Name:	 	Katelyn Seager
	Title:	 	Managing Director
	
	Address:
	 Goldman Sachs Asset Management, L.P.

200 West Street, 3rd Floor

	New York, NY 10282
	Attn: Jeffrey Olinsky
	Email: Jeffrey.Olinsky@gs.com
	
	 Goldman Sachs Asset Management, L.P.

222 Main Street, 11th Floor

	Salt Lake City, UT 84101
	Attn: James Sachs
	Email: gsam-as-fi@gs.com

  
 [Signature Page to
Registration Rights Agreement – Notes] 

 IN WITNESS WHEREOF, the Parties hereto have executed this Registration Rights
Agreement on the date first written above. 
  

			
		  	NOMURA CORPORATE RESEARCH
		  	AND ASSET MANAGEMENT, INC., solely
		  	in its capacity as investment advisor to the
		  	following funds and accounts:
		
	• NOMURA FUNDS IRELAND PLC - US HIGH YIELD BOND FUND	  	• MONTGOMERY COUNTY EMPLOYEES’ RETIREMENT SYSTEM
	• CALIFORNIA PUBLIC EMPLOYEES’ RETIREMENT	  	• PENSIONSKASSE SBB
	SYSTEM	  	• NEW YORK CITY POLICE PENSION FUND
	• STATE STREET TRUST & BANKING CO LTD AS	  	• INVESTERINGSFORENINGEN LAGERNES INVEST
	TRUSTEE FOR FUND 2381045/AHS8	  	• L3HARRIS PENSION MASTER TRUST
	• STICHTING PGGM DEPOSITARY	  	• NATIONAL RAILROAD RETIREMENT INVESTMENT
	• AMERICAN CENTURY INVESTMENT TRUST – NT HIGH INCOME FUND	  	TRUST
		  	• OHIO PUBLIC EMPLOYEES RETIREMENT SYSTEM
	• THE REGENTS OF THE UNIVERSITY OF CALIFORNIA	  	• PACE HIGH YIELD INVESTMENTS
	• GENERAL DYNAMICS CORPORATION GROUP TRUST	  	• STICHTING PENSIOENFONDS HOOGOVENS
	• AMERICAN CENTURY INVESTMENT TRUST – HIGH INCOME FUND	  	• DELTA MASTER TRUST
		  	• STRUCTURA – US HIGH YIELD BOND – BRL
	• TEACHERS’ RETIREMENT SYSTEM OF THE CITY OF	  	• COMMONWEALTH OF MASSACHUSETTS EMPLOYEES DEFERRED COMPENSATION PLAN
	NEW YORK	  	
	• NEW YORK CITY EMPLOYEES’ RETIREMENT SYSTEM	  	• LOUISIANA STATE EMPLOYEES’ RETIREMENT SYSTEM
	• KAPITALFORENINGEN MP INVEST HIGH YIELD OBLIGATIONER V	  	• PINNACOL ASSURANCE
		  	• SUZUKA INKA
	• MARS ASSOCIATES RETIREMENT PLAN	  	• NEW YORK CITY FIRE DEPARTMENT PENSION FUND
	• PENSIONDANMARK PENSIONFORSIKRINGSAKTIESELSKAB	  	• NOMURA US HIGH YIELD BOND INCOME
		  	• NORTHERN MULTI-MANAGER HIGH YIELD OPPORTUNITY FUND
	• THE STATE OF CONNECTICUT ACTING THROUGH ITS	  	
	TREASURER	  	• STICHTING MARS PENSIOENFONDS
	• KAPITALFORENINGEN INDUSTRIENS PENSION	  	• NOMURA MULTI MANAGERS FUND II - US HIGH YIELD BOND
	PORTFOLIO, HIGH YIELD OBLIGATIONER III	  	
	• STITCHING BEWAARDER SYNTRUS ACHMEA GLOBAL HIGH YIELD POOL	  	• STRUCTURA – US HIGH YIELD BOND
		  	• BLUE CROSS AND BLUE SHIELD ASSOCIATION NATIONAL RETIREMENT TRUST
	• NEW YORK CITY BOARD OF EDUCATION RETIREMENT SYSTEM	  	
		  	• GOVERNMENT OF GUAM RETIREMENT FUND
	• BARCLAYS MULTI-MANAGER FUND PLC	  	• MONTGOMERY COUNTY CONSOLIDATED RETIREE HEALTH BENEFITS TRUST
	• BEST INVESTMENT CORPORATION	  	
	• AEGON CUSTODY B.V.	  	

  

							
		 		 	By:	 	 /s/ Stephen S. Kotse

		 		 	Name:	 	Stephen Kotse
		 		 	Title:	 	Managing Director of Nomura Corporate
		 		 		 	Research and Asset Management, Inc., as
		 		 		 	investment advisor
			
		 		 	Address:
		 		 	309 West 49th Street
		 		 	New York, NY 10019
		 		 	Attn: James Yoon
		 		 	Email: james.yoon1@nomura.com

  
 [Signature Page to
Registration Rights Agreement – Notes] 

 IN WITNESS WHEREOF, the Parties hereto have executed this Registration Rights
Agreement on the date first written above. 
  

			
	PFM MULTI MANAGER FIXED INCOME FUND, A SERIES OF PFM MULTI-MANAGER SERIES TRUST
		
	By:	 	 /s/ Tyler Braun

	Name:	 	Tyler Braun
	Title:	 	Director
	
	Address:
	1735 Market Street
	 Philadelphia, PA

19103

  
 [Signature Page to
Registration Rights Agreement – Notes] 

 IN WITNESS WHEREOF, the Parties hereto have executed this Registration Rights
Agreement on the date first written above. 
  

			
	SEFTON PLACE FUND
		
	By:	 	 /s/ Nick Linnane

	Name:	 	Nick Linnane
	Title:	 	Portfolio Manager
	
	Address:
	25 Green Street
	W1K7AX, London, UK
	Attn: Nick Linnane
	Email: nick@seftonpl.com
	Email: chrysis@seftonpl.com

  
 [Signature Page to
Registration Rights Agreement – Notes] 

 IN WITNESS WHEREOF, the Parties hereto have executed this Registration Rights
Agreement on the date first written above. 
  

			
	STICHTING BLUE SKY ACTIVE HIGH YIELD FIXED INCOME USA FUND
		
	By:	 	 /s/ T.G.A. Keijzers /s/ R. Brand

	Name:	 	T.G.A. Keijzers - R. Brand
	Title:	 	 Director BSG Fund Management

	B.V. - head of portfolio management authorized representatives
	
	Address:
	 Prof. E.M. Meijerslaan 1
 1183 AV
Amstelveen

	The Netherlands

  
 [Signature Page to
Registration Rights Agreement – Notes] 

 
			
	Citadel Advisors LLC, as portfolio manager of certain funds and accounts
		
	By:	 	 /s/ Shellane Mulcahy

	Name:	 	 Shellane Mulcahy

	Title:	 	 Authorized Signatory

  
 [Signature Page to
Registration Rights Agreement – Notes] 

 
			
	By: Brigade Capital Management, LP, as Investment Manager on Behalf of its Various Funds and Accounts
		
	By:	 	 /s/ Patrick Criscillo

	Name:	 	 Patrick Criscillo

	Title:	 	 Chief Financial Officer

  
 [Signature Page to
Registration Rights Agreement – Notes] 

 
			
	CANYON CZR HOLDINGS LLC
	
	By: Canyon Capital Advisors LLC, its Manager
		
	By:	 	 /s/ Jonathan M. Kaplan

	Name:	 	 Jonathan M. Kaplan

	Title:	 	 Authorized Signatory

	
	Address for Notices:
	
	c/o Canyon Capital Advisors LLC
	Attention: Legal Department
	2000 Avenue of the Stars, 11th FL
	Los Angeles, CA 90067
	
	legal@canyonpartners.com

  
 [Signature Page to
Registration Rights Agreement – Notes] 

 
			
	 KING STREET CAPITAL MANAGEMENT, L.P., 

on behalf of certain funds and accounts for which it serves as investment advisor

		
	By:	 	 /s/ Howard Baum

	Name:	 	 Howard Baum

	Title:	 	 Authorized Signatory

  
 [Signature Page to
Registration Rights Agreement – Notes] 

 Schedule I 

Holders 

[Redacted] 

 EXHIBIT A 

Form of Joinder Agreement 

The undersigned hereby agrees, effective as of the date set forth below, to become a party to that certain Registration Rights Agreement (as
amended, restated and modified from time to time, the “Agreement”) dated as of February 5, 2021, by and among Noble Finance Company, an exempted company incorporated in the Cayman Islands with limited liability (the
“Company”), and the holders of Second Lien Notes named therein, and for all purposes of the Agreement the undersigned will be included within the term “Holder” (as defined in the Agreement). The address, facsimile number
and email address to which notices may be sent to the undersigned are as follows: 
  

							
	 Address:
	  	  
	  		  	
		  	  
	  		  	
		  	  
	  		  	
	 Facsimile No.:
	  	  
	  		  	
	 Email:
	  	  
	  		  	
	 Date:
	  	  
	  		  	

  

			
	[If entity]
	
	[ENTITY NAME]

 
			
		
	By:	 	          

		 	Name:
		 	Title:

 
			
	
	[If individual]
	
	  

	Individual Name:	 	

  
 A-1EX-10.8

 Exhibit 10.8 

EMPLOYMENT AGREEMENT 

This EXECUTIVE EMPLOYMENT AGREEMENT (this “Agreement”), is made and effective as of February 5, 2021 (the
“Effective Date”), by and between Noble Services Company LLC, a Delaware limited liability company (the “Company”), and Robert Eifler (the “Executive”). 

WITNESSETH: 
 WHEREAS, the
Company desires to continue to employ the Executive and to enter into this Agreement embodying the terms of such employment, and the Executive desires to enter into this Agreement and to accept such employment, subject to the terms and provisions of
this Agreement; 
 NOW, THEREFORE, in consideration of the premises and the mutual covenants and agreements herein contained, and intending
to be legally bound hereby, the Company and the Executive hereby agree as follows: 
 1. Employment. The Company agrees that the Company or an
affiliated company will employ the Executive, and the Executive agrees to be employed by the Company or an affiliated company, for the period set forth in Paragraph 2(a), in the positions and with the duties and responsibilities set forth in
Paragraph 3, and upon the other terms and conditions herein provided. As used in this Agreement, the term “affiliated company” shall mean any incorporated or unincorporated trade or business or other entity or person, other than the
Company, that along with the Company is considered a single employer under Section 414(b) or 414(c) of the U.S. Internal Revenue Code of 1986, as amended (the “Code”); provided, however, that (i) in applying
Section 1563(a)(1), (2), and (3) of the Code for the purposes of determining a controlled group of corporations under Section 414(b) of the Code, the phrase “at least 50 percent” shall be used instead of the phrase “at
least 80 percent” in each place the phrase “at least 80 percent” appears in Section 1563(a)(1), (2), and (3) of the Code, and (ii) in applying Treas. Reg. section 1.414(c)-2 for
the purposes of determining trades or businesses (whether or not incorporated) that are under common control for the purposes of Section 414(c) of the Code, the phrase “at least 50 percent” shall be used instead of the phrase “at
least 80 percent” in each place the phrase “at least 80 percent” appears in Treas. Reg. section 1.414(c)-2. 

2. Employment Term. 
 (a) Term. The
employment of the Executive by the Company or an affiliated company as provided in Paragraph 1 shall be for the period commencing on the Effective Date and ending on the third anniversary of such date unless earlier terminated in accordance with
Paragraph 5 (the “Initial Employment Term”); provided, however, that on such third anniversary and on each annual anniversary thereafter (the third anniversary of the Effective Date and each annual anniversary thereof herein
referred to as the “Renewal Date”), the Employment Term shall be automatically extended for an additional one year, unless at least ninety (90) days prior to the Renewal Date the Company or Executive shall give notice to the
Executive that the Employment Term shall not be so extended (the Initial Employment Term plus any extended Terms, collectively, the “Employment Term”). 

 (b) Employment Relationship. The Executive and the Company acknowledge that, except
as may otherwise be provided under any written agreement between the Executive and the Company other than this Agreement, the employment of the Executive by the Company is “at will” and may be terminated by either the Executive or the
Company at any time. 
 3. Positions and Duties. 

(a) During the Employment Term, the Executive shall serve in the position provided on Exhibit A and report to the board of directors of
Company and the Noble-Cayman Board (defined below) and shall have the duties, functions, responsibilities and authority attendant with such position and such other duties, functions, responsibilities and authority that may be assigned by the Board
and the Noble-Cayman Board from time to time commensurate with the Executive’s position with the Company. 
 (b) During the Employment
Term, the Executive shall devote the Executive’s full time, skill and attention, and the Executive’s reasonable best efforts, during normal business hours to the business and affairs of the Company, and in furtherance of the business and
affairs of its affiliated companies, to the extent necessary to discharge faithfully and efficiently the duties and responsibilities delegated and assigned to the Executive herein or pursuant hereto, except for usual, ordinary and customary periods
of vacation and absence due to illness or other disability; provided, however, that the Executive may (i) serve on industry-related, civic or charitable boards or committees, (ii) with the approval (not to be unreasonably withheld)
of the Board of Directors of Noble-Cayman (the “Noble-Cayman Board”), serve on corporate boards or committees, (iii) deliver lectures, fulfill speaking engagements or teach at educational institutions, and (iv) manage the
Executive’s personal investments, so long as such activities do not significantly interfere with the performance and fulfillment of the Executive’s duties and responsibilities as an employee of the Company or an affiliated company in
accordance with this Agreement and, in the case of the activities described in clause (ii) of this proviso, will not, in the good faith judgment of the Noble-Cayman Board, constitute an actual or potential conflict of interest with the business
of the Company or an affiliated company and will not breach any of the Executive’s obligations hereunder. It is expressly understood and agreed that, to the extent that any such activities have been conducted by the Executive during the term of
the Executive’s employment by the Company or its affiliated companies prior to the Effective Date consistent with the provisions of this Paragraph 3(b), the continued conduct of such activities (or of activities similar in nature and scope
thereto) subsequent to the Effective Date shall not thereafter be deemed to interfere with the performance and fulfillment of the Executive’s duties and responsibilities to the Company and its affiliated companies and will not require prior
approval, provided the Executive has made the Company aware of such activities prior to the Effective Date. 
 (c) In connection with the
Executive’s employment hereunder, the Executive shall be based at the location where the Executive was regularly employed immediately prior to the Effective Date or any office which is the headquarters of the Company or Noble-Cayman and is less
than fifty (50) miles from such location, subject, however, to required travel on the business of the Company and its affiliated companies to an extent substantially consistent with the Executive’s business travel obligations during the
three-year period immediately preceding the Effective Date (excluding any reduction in travel on account of the COVID-19 pandemic) and further subject to any limitations or restrictions as a result of the COVID-19 pandemic on travel to Executive’s principal place of performance or other business travel. 

  
 2 

 (d) All services that the Executive may render to the Company or any of its affiliated
companies in any capacity during the Employment Term shall be deemed to be services required by this Agreement and consideration for the compensation provided for herein. 

4. Compensation and Related Matters. 
 (a)
Base Salary. During the Employment Term, the Executive shall receive an annual base salary at the rate set forth on Exhibit A (“Base Salary”). The Base Salary shall be payable in installments in accordance with the
general payroll practices of the Company in effect at the time such payment is made, but in no event less frequently than monthly, or as otherwise mutually agreed upon. During the Employment Term, the Executive’s Base Salary shall be subject to
such increases (but not decreases) as may be determined from time to time by the Noble-Cayman Board in its sole discretion; provided, however, that the Executive’s Base Salary shall be reviewed by the Noble-Cayman Board within four
(4) months after the Effective Date and thereafter at least annually, with a view to making such upward adjustment (but no downward adjustments), if any, as the Noble-Cayman Board deems appropriate in its discretion. Base Salary shall not be
reduced after any such increase. The term “Base Salary” as used in this Agreement shall refer to the Base Salary as so increased. Payments of Base Salary to the Executive shall not be deemed exclusive and shall not prevent the Executive
from participating in any employee benefit plans, programs or arrangements of the Company and its affiliated companies in which the Executive is entitled to participate. Payments of Base Salary to the Executive shall not in any way limit or reduce
any other obligation of the Company hereunder, and no other compensation, benefit or payment to the Executive hereunder shall in any way limit or reduce the obligation of the Company regarding the Executive’s Base Salary hereunder. 

(b) Annual Bonus Opportunity. In addition to Base Salary, the Executive shall be eligible to earn, in respect of each
fiscal year of the Company ending during the Employment Term, an annual bonus pursuant to the Company’s Short-Term Incentive Plan or any successor plan (the “Annual Bonus”) with (i) a target bonus percentage set forth on
Exhibit A hereto (the “Target Percentage”) and (ii) annual performance targets set by the Board (or compensation committee thereof) after consultation with the Chief Executive Officer of the Company. Each such Annual
Bonus shall be paid in the fiscal year following the fiscal year to which such Annual Bonus relates and no later than the month following the date that the audited financials are finalized for the fiscal year to which such Annual Bonus relates,
unless the Company maintains an elective nonqualified deferred compensation and the Executive elects to defer the receipt of such Annual Bonus under and in accordance with the terms of such nonqualified deferred compensation plan then in effect.
Except as otherwise provided herein, to receive an Annual Bonus, the Executive must remain continuously employed by the Company through the date the Annual Bonus is paid and be in “active working status” at the time of such bonus
payment. For purposes of this Agreement, “active working status” shall mean that the Executive has not resigned (or given notice of intention to resign) and has not been terminated (or given notice of termination) for any reason, with or
without Cause (as defined below). 

  
 3 

 (d) Employee Benefits. During the Employment Term, the Executive shall be eligible to
participate in all employee benefit plans and programs (including, without limitation, retirement, medical, prescription, dental, disability, employee life, group life, accidental death and travel accident insurance) and equity incentive plans that
are established and made available by the Company from time to time to its employees generally, subject, however, to satisfying the applicable eligibility requirements and other terms and conditions of such plans and programs. For avoidance of
doubt, the reorganization of the Company pursuant to the Chapter 11 plan shall not result in a disruption of the Executive’s health care coverage. Notwithstanding the foregoing, the Company may modify or terminate any employee benefit or other
plan and program at any time. 
 (e) Expenses. During the Employment Term, the Executive shall be entitled to receive reimbursement
for all reasonable business expenses incurred by the Executive in performing the Executive’s duties and responsibilities hereunder in accordance with the policies, procedures and limits of the Company and its affiliated companies from time to
time for senior executives. 
 (f) Fringe Benefits. During the Employment Term, the Executive shall be entitled to the fringe
benefits, if applicable, including, without limitation, tax and financial planning services, payment of club dues, and use of an automobile and payment of related expenses, in accordance with the policies, practices and procedures of the Company and
its affiliated companies as in effect from time to time for senior executives. 
 (g) Vacation. During the Employment Term, the
Executive shall be entitled to paid vacation and such other paid absences, whether for holidays, illness, personal time or any similar purposes, as provided to other senior executives of the Company generally, including, if and to the extent
provided under any Company policy, rollover of unused vacation in accordance with Company policy in effect from time to time. 
 5. Termination of
Employment. 
 (a) Death. The Executive’s employment shall terminate automatically upon the Executive’s death during the
Employment Term. 
 (b) Disability. If the Company determines in good faith that the Disability (as defined below) of the Executive
has occurred during the Employment Term, the Company may give the Executive notice of its intention to terminate the Executive’s employment. In such event, the Executive’s employment hereunder shall terminate effective on the thirtieth (30th) day after receipt of such notice by the Executive (the “Disability Effective Date”); provided, that within the thirty (30)-day period
after such receipt, the Executive shall not have returned to full-time performance of the Executive’s duties. For purposes of this Agreement, “Disability” shall mean the absence of the Executive from the Executive’s duties
hereunder on a full-time basis for an aggregate of 180 days within any given period of 365 consecutive days (in addition to any statutorily required leave of absence and any leave of absence approved by the Company) as a result of incapacity of the
Executive, despite any reasonable accommodation required by law, due to bodily injury or disease or any other mental or physical illness, which will, in the opinion of a physician selected by the Company or its insurers and acceptable to the
Executive or the Executive’s legal representative, be permanent and continuous during the remainder of the Executive’s life. 

  
 4 

 (c) Termination by Company. The Company may terminate the Executive’s employment
hereunder with or without Cause (as defined below). For purposes of this Agreement, “Cause” shall mean: 
 (i) the willful
and continued failure of the Executive to perform substantially the Executive’s duties hereunder (other than any such failure resulting from bodily injury or disease or any other incapacity due to mental or physical illness) after a written
demand for substantial performance is delivered to the Executive by the Board or the Noble-Cayman Board, or the Chief Executive Officer of the Company or of Noble-Cayman, which specifically identifies the manner in which the Board or the
Noble-Cayman Board, or the Chief Executive Officer of the Company or of Noble-Cayman, believes the Executive has not substantially performed the Executive’s duties; 

(ii) the willful refusal to comply with the lawful instructions of the Board or Reporting Officer that are consistent with the Executive’s
position, which failure, to the extent curable, is not cured within fifteen (15) days following receipt of written notice from the Company or such other later time as may be reasonably required for such compliance in the Board’s sole
discretion; 
 (iii) the Executive engages in illegal conduct or gross misconduct that is materially and demonstrably detrimental to the
Company and/or its affiliated companies, monetarily or otherwise; 
 (iv) the Executive commits a material breach of the terms of this
Agreement, any material policy of the Company and/or its affiliated companies applicable to the Executive, or any other agreement with the Company and/or affiliated companies, including any agreement containing restrictive covenants to which the
Executive is a party, which breach, to the extent curable, is not cured within fifteen (15) days following receipt of written notice from the Company; or 

(v) the Executive is indicted on charges of, is convicted of, or enters a plea of guilty or nolo contendere to (A) a felony; or (B) a
crime involving fraud, material dishonesty involving the Company or its assets or moral turpitude. 
 For purposes of this provision, no act, or failure to
act, on the part of the Executive shall be considered “willful” unless done, or omitted to be done, by the Executive in bad faith or without reasonable belief that the Executive’s action or omission was in the best interests of the
Company or Noble-Cayman. Any act, or failure to act, based upon authority given pursuant to a resolution duly adopted by the Board or the Noble-Cayman Board or upon the instructions of the Chief Executive Officer of the Company or Noble-Cayman or
based upon the written advice of counsel for the Company shall be conclusively presumed to be done, or omitted to be done, by the Executive in good faith and in the best interests of the Company and its affiliated companies. The cessation of
employment of the Executive shall not be deemed to be for Cause unless and until there shall have been delivered to the Executive a copy of a resolution duly adopted by the affirmative vote of not less than
two-thirds of the entire membership of the Noble-Cayman Board then in office at a meeting of the Noble-Cayman Board called and held for such purpose (after reasonable notice is provided to the Executive and
the Executive is given an opportunity, together 

  
 5 

 
with counsel, to be heard within ten (10) days of such notices before the Noble-Cayman Board) finding that the Executive is guilty of the conduct described above, and specifying the
particulars thereof in detail; provided, however, in the event the Executive is indicted, convicted or enters a plea as provided under subclause (v) above, the Executive may be terminated for Cause immediately without any such advance
notice or meeting. 
 (d) Termination by Executive. The Executive may terminate the Executive’s employment hereunder at any time
during the Employment Term with or without Good Reason (as defined below). For purposes of this Agreement, “Good Reason” shall mean any of the following (without the Executive’s express written consent): 

(i) a material diminution in the Executive’s position (including titles and reporting requirements), duties, functions, responsibilities
or authority as contemplated by Paragraph 3(a) of this Agreement; 
 (ii) (x) a reduction in the Executive’s Base Salary (other than as
part of an across the board reduction in base salary to substantially all senior executives of the Company in substantially the same proportion but in no event more than a 10% reduction in the aggregate; provided if any make-up compensation is provided to senior executives generally, the Executive receives any make-up compensation in the same manner as provided to such other senior
executives), (y) a reduction in the Executive’s Target Percentage (other than as part of an across the board reduction in target bonus percentages to substantially all senior executives of the Company in substantially the same proportion but in
no event more than a 10% reduction in the aggregate; provided if any make-up compensation is provided to senior executives generally, the Executive receives any
make-up compensation in the same manner as provided to such other senior executives) or (z) a material failure to comply with any other provision of Paragraph 4 of this Agreement; 

(iii) the Company’s requiring the Executive to be based at any office or location other than as provided in Paragraph 3(c) of this
Agreement; 
 (iv) any failure by the Company to comply with and satisfy Paragraph 17(c) of this Agreement; 

(v) the failure of the Company or its affiliated companies to implement an equity plan within 120 days of the Effective Date; or 

(vi) any other action or inaction that constitutes a material breach by the Company of the provisions of this Agreement or any other material
compensation agreement between the Executive and the Company. 
 Notwithstanding the foregoing, the Executive shall not have the right to terminate the
Executive’s employment hereunder for Good Reason unless (i) within ninety (90) days of the initial existence of the condition or conditions giving rise to such right the Executive provides written notice to the Company detailing the
specific circumstances of the existence of such condition or conditions that the Executive claims give rise to Good Reason, (ii) the Company fails to remedy such condition or conditions within thirty (30) days following the receipt of such
written notice and (iii) the Executive terminates employment (in accordance with the provisions of Paragraph 5(e)) within thirty (30) days following the end of such cure period. 

  
 6 

 (e) Notice of Termination. Any termination of the Executive’s employment
hereunder by the Company or by the Executive (other than a termination pursuant to Paragraph 5(a)) shall be communicated by a Notice of Termination (as defined below) to the other party hereto. For purposes of this Agreement, a “Notice of
Termination” shall mean a notice which (i) indicates the specific termination provision in this Agreement relied upon, (ii) in the case of a termination for Disability, Cause or Good Reason, sets forth in reasonable detail the
facts and circumstances claimed to provide a basis for termination of the Executive’s employment under the provision so indicated, and (iii) specifies the Date of Termination (as defined in Paragraph 5(f) below); provided, however,
that notwithstanding any provision in this Agreement to the contrary, a Notice of Termination given in connection with a termination for Good Reason shall be given by the Executive within a reasonable period of time, not to exceed ninety
(90) days, following the initial existence of one or more of the conditions giving rise to such right of termination. The failure by the Company or the Executive to set forth in the Notice of Termination any fact or circumstance which
contributes to a showing of Disability, Cause or Good Reason shall not waive any right of the Company or the Executive hereunder or preclude the Company or the Executive from asserting such fact or circumstance in enforcing the Company’s or the
Executive’s rights hereunder. 
 (f) Date of Termination. For purposes of this Agreement, the “Date of
Termination” shall mean the effective date of the termination of the Executive’s employment hereunder, which date shall be (i) if the Executive’s employment is terminated by the Executive’s death, the date of the
Executive’s death, (ii) if the Executive’s employment is terminated because of the Executive’s Disability, the Disability Effective Date, (iii) if the Executive’s employment is terminated by the Company (or applicable
affiliated company) for Cause, the date on which the Notice of Termination is given,(iv) if the Executive’s employment is terminated for Good Reason, the date provided in Paragraph 5(d) and (v) if the Executive’s employment is
terminated for any other reason, the date specified in the Notice of Termination, which date shall in no event be earlier than the date such notice is given. 

(g) Return of Documents and Property; Other Obligations. Upon termination of the Executive’s employment with the Company and/or its
affiliated companies for any reason or at any other time upon request of the Company, the Executive (or his heirs or personal representatives if applicable) : (a) shall deliver, or cause to be delivered, to the Company, and shall not retain for
the Executive’s or anyone else’s use, all memoranda, disks, files, notes, records, documents or other materials obtained in connection with the Executive’s employment with the Company or which otherwise relate to the business of the
Company or its affiliated companies (whether or not containing Confidential Information) and shall not retain any copies thereof in any format or storage medium (including, without limitation, computer disk or memory); (b) purge from any
computer system in his possession, other than those owned by and returned to the Company or its affiliated companies, all computer files which contain or are based upon any Confidential Information and confirm such purging in writing to the Company;
and (c) return any other property that rightfully belongs to the Company or its affiliated companies, including, without limitation, computers and cellular phones, in accordance with their policies in effect from time to time. Upon any
termination of the Executive’s employment with the Company and its affiliated companies, the Executive shall be deemed to have resigned from any position as an officer, director or 

  
 7 

 
fiduciary of any Company-related entity and shall executed any documentation as reasonably requested by the Company to effectuate the foregoing, unless otherwise agreed to by the Company and the
Executive. Notwithstanding the foregoing, the Executive may make an electronic copy and retain his contacts list, calendar and any emails or other documentation needed to file his personal income tax returns. At the request of Executive, the Company
shall take all reasonable action with the applicable mobile carrier to transfer the Executive’s mobile number to his personal account upon termination of employment with the Company. 

6. Obligations of the Company upon Separation from Service. 

(a) Good Reason; Other Than for Cause, Death or Disability. Subject to the provisions of Paragraph 6(f) of this Agreement, if prior to
the end of the Employment Term the Executive’s Separation from Service (as defined in Paragraph 10 below) shall occur (i) by reason of the Company’s termination of the Executive’s employment hereunder other than for Cause or
other than for Disability, or (ii) by reason of the Executive’s termination of the Executive’s employment hereunder for Good Reason, the Company shall pay to the Executive when due under the Company’s normal payroll practices the
Executive’s Base Salary through the Date of Termination, and any accrued vacation pay to the extent not theretofore paid (such amounts, the “Accrued Obligations”), and, subject to Paragraph 6(e) and the Executive’s
continued compliance with his obligations under Paragraphs 5(g) and 9: 
 (i) any Annual Bonus earned for the prior fiscal year but not then
paid, payable at the time such bonuses are paid generally to senior executives but no later than March 15th following the year in which the Executive’s Separation Date occurs; 

(ii) the Company shall pay to the Executive a pro rata bonus for the year in which the Separation Date occurs, calculated as the product of
(x) the actual bonus that would otherwise be paid for the year (provided, however, in calculating such bonus, to the extent that any of the performance metrics are subjective, such subjective performance metrics shall be deemed to have
been met at target); and (y) a fraction, the numerator of which is the number of days in the current fiscal year through the Date of Termination and the denominator of which is 365 (the “Pro Rata Bonus”); payable at the time
such bonuses are paid generally to senior executives but no later than March 15th following the year in which the Executive’s Separation Date occurs; 

(iii) on the sixtieth (60th) day after the Executive’s Separation Date a lump sum
payment in cash equal to the sum of the following amounts: 
 (A) an amount equal to eighteen (18) multiplied by the amount of the
monthly premium for Executive’s (and his covered dependents, if applicable) COBRA continuation coverage (within the meaning of Section 4980B of the Code) under the group health plan of the Company and its affiliated companies as in effect
at the time of Executive’s termination of employment (the “Additional Amount”); and 
 (B) an amount (such amount is
hereinafter referred to as the “Severance Amount”) equal to the product of (1) either (x) 3.0, if the Separation Date occurs during the Window Period (as defined in Paragraph 10), or (y) 2.0 if the Separation Date occurs
outside of the Window Period (as defined in Paragraph 10), and (2) the sum of (x) the Executive’s Base Salary and (y) the Annual Bonus based on multiplying the Target Percentage by the Executive’s Base Salary; and 

  
 8 

 (iv) for six months following the Executive’s Separation Date, the Company shall, at
its sole expense as incurred, provide the Executive with outplacement services the scope and provider of which shall be selected by the Executive in the Executive’s sole discretion; provided, however, that (A) an expense for such
outplacement services shall be paid by the Company or reimbursed by the Company to the Executive as soon as practicable after such expense is incurred (but in no event later than thirty (30) days after such expense is incurred, provided, the
Executive has provided reasonable documentation of such expense), and (B) the total amount of the expenses paid or reimbursed by the Company pursuant to this Paragraph 6(a)(iii) shall not exceed $50,000; and 

(v) no later than ninety (90) days after Executive’s Separation Date, all club memberships and other memberships that the Company was
providing for the Executive’s use at the earlier of the Executive’s Separation Date or the time Notice of Termination is given shall, to the extent possible, be transferred and assigned to the Executive at no cost to the Executive (other
than income taxes owed), the cost of transfer, if any, to be borne by the Company; and 
 (vi) to the extent not theretofore paid or
provided, the Company shall timely pay or provide to the Executive when otherwise due any other vested amounts or benefits required to be paid or provided or which the Executive is eligible to receive under any plan, program, policy, practice or
arrangement or contract or agreement of the Company and its affiliated companies, subject to and in accordance with such plan, program, policy, practice or arrangement or contract or agreement (such other amounts and benefits hereinafter referred to
as the “Other Benefits”). 
 (b) Death. Subject to the provisions of Paragraph 6(e) of this Agreement, if the
Executive’s Separation from Service occurs by reason of the Executive’s death, this Agreement shall terminate without further obligations to the Executive’s legal representatives under this Agreement, other than for (i) payment
of the Accrued Obligations (which shall be paid to the Executive’s estate or beneficiary, as applicable, in a lump sum in cash within thirty (30) days after the Executive’s Separation Date), (ii) the timely payment or provision of the
Other Benefits, (iii) any Annual Bonus earned for the prior fiscal year but not then paid to be paid on the sixtieth (60th) day following the date of death), and (iv) payment to the
Executive’s estate or beneficiaries, as applicable, the Pro Rata Bonus (which shall be based on Annual Bonus at target and be paid on the sixtieth (60th) day following the date of death). 

(c) Disability. Subject to the provisions of Paragraph 6(e) and Paragraph 6(f) of this Agreement, if the Executive’s Separation
from Service occurs by reason of the Executive’s Disability, this Agreement shall terminate without further obligations to the Executive, other than for (i) payment of the Accrued Obligations (which shall be paid in a lump sum in cash
within thirty (30) days after the Executive’s Separation Date), (ii) the timely payment or provision of the Other Benefits, (iii) any Annual Bonus earned for the prior fiscal year but not then paid (which shall be paid at the time
such bonuses are paid generally to senior executives of the Company), and (iv) Pro Rata Bonus (which shall be paid at the same time such bonuses are generally paid to senior executives of the Company and its affiliated companies but no later
than March 15th following the year when such Separation Date occurs). 

  
 9 

 (d) Cause; Other than for Good Reason. If the Executive’s Separation from
Service occurs by reason of the Company’s termination of Executive’s employment hereunder for Cause or by reason of the Executive’s voluntary termination of the Executive’s employment hereunder other than for Good Reason, this
Agreement shall terminate without further obligations to the Executive hereunder other than the obligation to pay the Accrued Obligations (which shall be paid in a lump sum in cash within thirty (30) days after the Executive’s Separation
Date) and the Other Benefits, if applicable. 
 (e) Equity Awards. For the avoidance of doubt, any equity awards that are outstanding
as of the Executive’s termination of employment shall be subject to the terms of the applicable equity incentive plan and agreements under which such awards were granted. 

(f) Release. Any and all amounts payable and benefits or additional rights provided pursuant to Paragraphs 6(a) and (c) (other than the
Accrued Obligations) shall only be payable, and are expressly conditioned, upon the Executive delivering an executed release agreement, in the form provided by the Company (which shall include such customary carve-outs for amounts due under this
Agreement, vested accrued benefits and indemnification rights and shall not contain restrictive covenants beyond those contained in this Agreement or such other agreement between the Executive and the Company or its affiliated companies) (the
“Release Agreement”) and not revoking such Release Agreement, and such Release Agreement shall be executed and the revocation period shall have expired without revocation prior to the sixtieth (60th) date following the Date of Termination. 
 (g) Payment Delay for Specified
Employee. Any provision of this Agreement to the contrary notwithstanding, if the Executive is a Specified Employee (as defined in Paragraph 10 below) on the Executive’s Separation Date, then any payment or benefit to be paid, transferred
or provided to the Executive pursuant to the provisions of this Agreement that would be subject to the tax imposed by Section 409A of the Code if paid, transferred or provided at the time otherwise specified in this Agreement shall be delayed
and thereafter paid, transferred or provided on the first business day that is six (6) months after the Executive’s Separation Date (or if earlier, within thirty (30) days after the date of the Executive’s death following the
Executive’s Separation from Service) to the extent necessary for such payment or benefit to avoid being subject to the tax imposed by Section 409A of the Code. 

7. Certain Excise Taxes. Notwithstanding anything to the contrary in this Agreement, if the Executive is a “disqualified individual” (as
defined in Section 280G(c) of the Code), and the payments and benefits provided for under this Agreement, together with any other payments and benefits which the Executive has the right to receive from the Company or any of its affiliated
companies, would constitute a “parachute payment” (as defined in Section 280G(b)(2) of the Code), then the payments and benefits provided for under this Agreement shall be either (a) reduced (but not below zero) so that the
present value of such total amounts and benefits received by the Executive from the Company and its affiliated companies will be one dollar ($1.00) less than three times the Executive’s “base amount”(as defined in
Section 280G(b)(3) of the Code) and so that no portion of such amounts and benefits received by the Executive shall be subject to the excise tax imposed by Section 4999 of the Code or (b) paid in full, whichever produces the better
net after-tax position to the Executive (taking into account any applicable excise tax under Section 4999 of the Code and any other applicable taxes). The reduction of payments and benefits

  
 10 

 
hereunder, if applicable, shall be made by reducing, first, payments or benefits to be paid in cash hereunder in the order in which such payment or benefit would be paid or provided (beginning
with such payment or benefit that would be made last in time and continuing, to the extent necessary, through to such payment or benefit that would be made first in time) and, then, reducing any benefit to be provided in kind hereunder in a similar
order. The determination as to whether any such reduction in the amount of the payments and benefits provided hereunder is necessary shall be made by the Company in good faith. If a reduced payment or benefit is made or provided and through error or
otherwise that payment or benefit, when aggregated with other payments and benefits from the Company (or its affiliated companies) used in determining if a parachute payment exists, exceeds one dollar ($1.00) less than three times the
Executive’s base amount, then the Executive shall immediately repay such excess to the Company upon notification that an overpayment has been made. Nothing in this Paragraph 7 shall require the Company (or any of its affiliated companies) to be
responsible for, or have any liability or obligation with respect to, the Executive’s excise tax liabilities under Section 4999 of the Code. 
 8.
Representations and Warranties. 
 (a) The Company represents and warrants to the Executive that the execution, delivery and
performance by the Company of this Agreement have been duly authorized by all necessary corporate action of the Company and do not and will not conflict with or result in a violation of any provision of, or constitute a default under, any contract,
agreement, instrument or obligation to which the Company is a party or by which it is bound. 
 (b) The Executive represents and warrants to
the Company that the execution, delivery and performance by the Executive of this Agreement do not and will not conflict with or result in a violation of any provision of, or constitute a default under, any contract, agreement, instrument or
obligation to which the Executive is a party or by which the Executive is bound. 
 9. Restrictive Covenants. 

(a) Confidential Information. 

(i) The Executive recognizes and acknowledges that the Company’s and its affiliated companies’ trade secrets and other confidential
or proprietary information, as they may exist from time to time, are valuable, special and unique assets of the Company’s and/or such affiliated companies’ business, access to and knowledge of which are essential to the performance of the
Executive’s duties hereunder. The Executive confirms that all such trade secrets and other information constitute the exclusive property of the Company and/or such affiliated companies. During the Employment Term and thereafter without
limitation of time, the Executive shall hold in strict confidence and shall not, directly or indirectly, disclose or reveal to any person, or use for the Executive’s own personal benefit or for the benefit of anyone else, any trade secrets,
confidential dealings or other confidential or proprietary information of any kind, nature or description (whether or not acquired, learned, obtained or developed by the Executive alone or in conjunction with others) belonging to or concerning the
Company or any of its affiliated companies, except (i) with the prior written consent of the Company duly authorized by its Board, (ii) in the course of the proper performance of the Executive’s duties hereunder, (iii) for
information (x) that becomes generally available to the public or is generally known within the 

  
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industry other than as a result of unauthorized disclosure by the Executive or the Executive’s affiliates or (y) that becomes available to the Executive on a nonconfidential basis from
a source other than the Company or its affiliated companies who is not bound by a duty of confidentiality, or other contractual, legal or fiduciary obligation, to the Company and other than in connection with the Executive’s employment by the
Company or its affiliates companies, (iv) as required by applicable law or regulation or legal process; or (v) to the minimum extent reasonably necessary to pursue or defend against any claim under this Agreement (and shall take all action
reasonably possible to restrict such information to be disclosed only under court seal). The provisions of this Paragraph 9 shall continue in effect notwithstanding termination of the Executive’s employment hereunder for any reason. 

(ii) Notwithstanding any other provision of this Agreement, the Executive is hereby notified in accordance with the Defend Trade Secrets Act of
2016 (the “DTSA”) that the Executive will not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that is made (i) in confidence to a federal, state or local
government official, either directly or indirectly, or to an attorney, in each case solely for the purpose of reporting or investigating a suspected violation of law; or (ii) in a complaint or other document filed in a lawsuit or other
proceeding, if such filing is made under seal. The Executive is further notified that if the Executive files a lawsuit for retaliation by the Company or its affiliated companies for reporting a suspected violation of law, the Executive may disclose
the trade secrets of the Company or its affiliated companies to the Executive’s attorney and use the trade secret information in the court proceeding if the Executive files any document containing the trade secret under seal and does not
disclose the trade secret except pursuant to court order. 
 (iii) Nothing in this Agreement or in any policy of the Company or its
affiliated companies prohibits the Executive from reporting possible violations of federal, state or local law or regulation to, or discussing any such possible violations with, any governmental agency or entity or self-regulatory organization,
including, without limitation, by initiating communications directly with, responding to any inquiry from, or providing testimony before any federal, state or local regulatory authority or agency or self-regulatory organization, including without
limitation the Securities and Exchange Commission and the Occupational Safety and Health Administration, or making any other disclosures that are protected by the whistleblower provisions of any federal, state, or local law or regulation. Similarly,
nothing in this Agreement or in any policy of the Company or its affiliated companies is intended to limit in any way the Executive’s right or ability to file a charge or claim of discrimination with the United States Equal Employment
Opportunity Commission (“EEOC”), the National Labor Relations Board, or comparable state or local agencies. These agencies have the authority to carry out their statutory duties by investigating the charge, issuing a determination,
or taking any other action authorized under the statutes such agencies enforce. The Executive retains the right to communicate with the EEOC and comparable state or local agencies, and such communication can be initiated by the Executive or in
response to a communication from any such agency, and is not limited by any obligation contained in this Agreement. The Executive also may make confidential disclosures to an attorney retained by the Executive. 

  
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 (b) Nonsolicitation of Customers, Vendors, Etc. The Executive agrees that, during the
Term and for a period of twelve (12) months thereafter (the “Restricted Period”), the Executive shall not, directly or indirectly, on the Executive’s own behalf or on behalf of any other person or entity (except as
otherwise necessary or advisable in the performance of the Executive’s duties hereunder), encourage, solicit or induce any customer, client, independent contractor, distributor, network partner,
co-sourcing partner, supplier, licensee, landlord, lessor, lender, investor, vendor or other person or entity having business relations with any member of the Company Group (“Protected
Relationship”) to (i) cease doing business with or reduce the amount of business commitments (which on termination, shall be determined as of the Separation Date) conducted with or through the Company or any of its affiliated
companies, or (ii) in any way otherwise interfere with the business relationship between any such customer, client, independent contractor, distributor, network partner, co-sourcing partner, supplier,
licensee, landlord, lessor, lender, investor, vendor or other person or entity having business relations with the Company or any of its affiliated companies. For avoidance of doubt, following the Separation Date, the solicitation of business for
which there is not an existing business commitment between the Company (and its affiliated companies), on the one hand, and a Protected Relationship, on the other, shall not be deemed a breach of this Section 9(b). 

(c) Nonsolicitation or Hire of Employees and Contractors. The Executive agrees that, during the twenty-four (24) month period
following the Term, the Executive shall not, directly or indirectly, on the Executive’s own behalf or on behalf of any other person or entity (except as otherwise necessary or advisable in the performance of the Executive’s duties
hereunder), (i) encourage, solicit or induce, or in any manner attempt to encourage, solicit or induce, any individual employed by, or person or entity providing consulting services to, the Company or any of its affiliated companies to terminate
such employment or consulting services or (ii) hire any individual who is employed by or, if primarily rendering services to the Company, engaged as a consultant by the Company or any of its affiliated companies or was employed by the Company
or any of its affiliated companies or engaged as a consultant by the Company or any of its affiliated companies within the six (6) month period prior to the date of such hiring; provided, however, that this Paragraph 9(c) shall not be
violated by (x) general advertising not targeted at employees or consultants of the Company or any of its affiliated companies or, (y) following termination of employment, by providing a personal reference if requested by a Company (or
affiliated company) employee or contractor, or, (z) to any employee of the Company (or affiliated company) who is terminated by the Company (or affiliated company) without Cause after the Executive’s Separation Date. 

(d) Cooperation. The Executive agrees, without receiving additional compensation and upon reasonable notice taking into consideration
the Executive’s then current personal and business commitments, to cooperate with the Company, its affiliated companies and its and their legal counsel on any matters directly relating to the Executive’s employment with the Company in
which the Company reasonably determines that the Executive’s cooperation is necessary or appropriate. The Company shall reimburse the Executive for (i) reasonable and pre-approved travel, lodging and
other similar out-of-pocket expenses incurred as a result of any such cooperation and (ii) legal fees and expenses incurred by the Executive if the Executive and
the Company agree, acting in in good faith, that the Company’s counsel would have a conflict of interest in also representing the Executive. 

  
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 (e) Enforceability of Restrictive Covenants. 

(i) The Executive hereby acknowledges and agrees that (A) the restrictions on his activities contained in this Paragraph 9 are necessary
for the reasonable protection of the Company Group and its goodwill and are a material inducement to the Company entering into this Agreement and (B) a breach or threatened breach of any such provisions shall cause irreparable harm to the
Company and its affiliated companies for which there is no adequate remedy at law. 
 (ii) The Executive agrees that in the event of any
breach or threatened breach of any provision contained in this Paragraph 9, the Company and its affiliated companies shall be entitled, in addition to any other rights or remedies available to them at law, in equity or otherwise, to a temporary,
preliminary or permanent injunction or injunctions and temporary restraining order or orders to prevent breaches of such provisions and to specifically enforce the terms and provisions thereof without having to prove special damages or the
inadequacy of the available remedies at law, in equity or otherwise and without the requirement of posting of a bond. 
 (iii) The parties
hereto acknowledge that the time, scope and other provisions contained in this Paragraph 9 are reasonable and necessary to protect the goodwill and business of the Company and its affiliated companies. 

(iv) If any covenant contained in this Paragraph 9 is held to be unenforceable by reason of the time or scope, such covenant shall be
interpreted to extend to the maximum time or scope for which it may be enforced as determined by a court making such determination, and such covenant shall only apply in its reduced form to the operation of such covenant in the particular
jurisdiction in which such adjudication is made. 
 (v) The existence of any claim or cause of action by the Executive against the Company or
its affiliated companies, whether predicated on this Agreement or otherwise, shall not constitute a defense to the enforcement by the Company or its affiliated companies of any provision of this Paragraph 9. 

(vi) In the event of any breach by the Executive of any of the restrictive covenants contained in this Paragraph 9, the running of the period
of the applicable restriction shall be automatically tolled and suspended for the duration of such breach (unless the Company is aware of the breach and either does not send the Executive a notice to cease and desist such activities or otherwise
take steps to enforce such restrictive covenants), and shall automatically recommence when such breach is remedied in order that the Company and its affiliated companies shall receive the full benefit of the Executive’s compliance with each
such covenant. 
 (vii) The provisions of this Paragraph 9 are in addition to and supplement any other agreements, covenants or obligations
to which the Executive is or may be bound from time to time. To the extent a covenant set forth in this Paragraph 9 conflicts with a covenant or obligation set forth in any other such agreement, the provision that is more favorable to the Company
and its affiliated companies will control. 

  
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 10. Certain Definitions. 

(a) Window Period. For purposes of this Agreement, “Window Period” shall mean the period commencing on the first date
during the Employment Term on which occurs a Change of Control. Notwithstanding anything in this Agreement to the contrary, if a Change of Control occurs and if the Executive’s Separation from Service occurs within the period commencing sixty
(60) days prior to the execution of a merger agreement or other definitive documentation evidencing the anticipated Change of Control, and if it is reasonably demonstrated by the Executive that such Separation from Service was at the request of
a third party who has taken steps reasonably calculated to effect a Change of Control or otherwise in contemplation of the Change of Control, then for all purposes of this Agreement the “Window Period” shall mean the period
commencing on the date immediately prior to the date of such Separation from Service and ending on the third anniversary of such date. 
 (b)
Change of Control. For purposes of this Agreement, a “Change of Control” shall mean: 
 (i) the acquisition by any
individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act) (a “Person”) of beneficial ownership (within the meaning of Rule 13d-3 promulgated
under the Exchange Act) of more than 50% of either (A) the then outstanding registered shares of Noble-Cayman, excluding any treasury shares (the “Outstanding Parent Shares”), or (B) the combined voting power of the then
outstanding voting securities of Noble-Cayman entitled to vote generally in the election of directors (the “Outstanding Parent Voting Securities”); provided, however, that for purposes of this subparagraph (b)(i) the
following acquisitions shall not constitute a Change of Control: (v) any acquisition by any Excluded Entity, (w) any acquisition directly from Noble-Cayman (excluding an acquisition by virtue of the exercise of a conversion privilege), (x)
any acquisition by Noble-Cayman, (y) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by Noble-Cayman or any company controlled by Noble-Cayman, or (z) any acquisition by any corporation pursuant to a
reorganization, merger, amalgamation or consolidation, if, following such reorganization, merger, amalgamation or consolidation, the conditions described in clauses (A), (B) and (C) of subparagraph (iii) of this Paragraph 10(b) are
satisfied; or 
 (ii) individuals who, as of the Effective Date, constitute the Noble-Cayman Board (the “Incumbent Board”)
cease for any reason to constitute a majority of such Board of Directors; provided, however, that any individual becoming a director of Noble-Cayman subsequent to the date hereof whose election, or nomination for election by
Noble-Cayman’s shareholders, was approved by a vote of a majority of the directors of Noble-Cayman then comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board, but excluding, for this
purpose, any such individual whose initial assumption of office occurs as a result of either an actual or threatened election contest or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the
Noble-Cayman Board; or 
 (iii) consummation of a reorganization, merger, amalgamation or consolidation of Noble-Cayman, with or without
approval by the shareholders of Noble-Cayman, in each case, unless, following such reorganization, merger, amalgamation or consolidation, 50% of, respectively, the then outstanding shares of common stock (or equivalent security) of the company
resulting from such reorganization, merger, amalgamation or consolidation (or, if such resulting 

  
 15 

 
company is a subsidiary of another company immediately following such reorganization, merger, amalgamation or consolidation, the ultimate parent company of such resulting company) and the
combined voting power of the then outstanding voting securities of such company entitled to vote generally in the election of directors is then beneficially owned, directly or indirectly, by all or substantially all of the individuals and entities
who were the beneficial owners, respectively, of the Outstanding Parent Shares and Outstanding Parent Voting Securities immediately prior to such reorganization, merger, amalgamation or consolidation in substantially the same proportions as their
ownership, immediately prior to such reorganization, merger, amalgamation or consolidation, of the Outstanding Parent Shares and Outstanding Parent Voting Securities, as the case may be; or 

(iv) consummation of a sale or other disposition of all or substantially all the assets of Noble-Cayman, with or without approval by the
shareholders of Noble-Cayman, other than to a corporation, with respect to which following such sale or other disposition, 50% of, respectively, the then outstanding shares of common stock (or equivalent security) of such corporation and the
combined voting power of the then outstanding voting securities of such corporation entitled to vote generally in the election of directors is then beneficially owned, directly or indirectly, by all or substantially all the individuals and entities
who were the beneficial owners, respectively, of the Outstanding Parent Shares and Outstanding Parent Voting Securities immediately prior to such sale or other disposition in substantially the same proportion as their ownership, immediately prior to
such sale or other disposition, of the Outstanding Parent Shares and Outstanding Parent Voting Securities, as the case may be. 
 Notwithstanding the
foregoing, or anything to the contrary set forth herein, (x) neither the consummation of the transactions contemplated by the Joint Plan of Reorganization of Noble Corporation plc and its Debtor Affiliates filed September 4, 2020, as
amended (the “Plan of Reorganization”), the Effective Date as defined in the Plan of Reorganization nor any subsequent in or out of court reorganization, whether through Chapter 11 or otherwise, shall be considered to be a Change of
Control, (y) a transaction or series of related transactions will not be considered to be a Change of Control if (i) Noble-Cayman becomes a direct or indirect wholly owned subsidiary of a holding company and (ii) (A) immediately
following such transaction(s), the then outstanding shares of common stock (or equivalent security) of such holding company and the combined voting power of the then outstanding voting securities of such holding company entitled to vote generally in
the election of directors is then beneficially owned, directly or indirectly, by all or substantially all the individuals and entities who were the beneficial owners, respectively, of the Outstanding Parent Shares and Outstanding Parent Voting
Securities immediately prior to such transaction(s) in substantially the same proportion as their ownership immediately prior to such transaction(s) of the Outstanding Parent Shares and Outstanding Parent Voting Securities, as the case may be, or
(B) the shares of Outstanding Parent Voting Securities outstanding immediately prior to such transaction(s) constitute, or are converted into or exchanged for, a majority of the outstanding voting securities of such holding company immediately
after giving effect to such transaction(s) and (z) for any payments or benefits that are considered nonqualified deferred compensation within the meaning of Section 409A of the Code and where Change of Control is a payment event or impacts
the time and form of payment, a transaction or series of related transactions will not be considered to be a Change of Control unless such transaction or series of transactions would also be a “change in control” (whether by change in
ownership, effective control or change in the ownership of a substantial portion of the assets) under Section 409A of the Code. 

  
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 (c) Excluded Entity. For purposes of this Agreement, “Excluded
Entity” shall mean Pacific Investment Management Company, its affiliates and/or funds and accounts controlled or managed by Pacific Investment Management Company or any of its affiliates, other than portfolio companies of Pacific Investment
Management Company and its affiliates. 
 (d) Separation from Service. For purposes of this Agreement, “Separation from
Service” shall mean the Executive’s separation from service (within the meaning of Section 409A of the Code and the regulations and other guidance promulgated thereunder) with the group of employers that includes the Company and
each affiliated company. For this purpose, with respect to services as an employee, an employee’s Separation from Service shall occur on the date as of which the employee and his or her employer reasonably anticipate that no further services
will be performed after such date or that the level of bona fide services the employee will perform after such date (whether as an employee or an independent contractor) will permanently decrease to no more than 20% of the average level of bona fide
services performed (whether as an employee or an independent contractor) over the immediately preceding 36-month period (or the full period of services to the employer if the employee has been providing
services to the employer less than 36 months). 
 (e) Specified Employee. For purposes of this Agreement, “Specified
Employee” shall mean a specified employee within the meaning of Section 409A(a)(2) of the Code and the regulations and other guidance promulgated thereunder. Each Specified Employee will be identified by the Chief Executive Officer of
Noble-Cayman on each December 31, using such definition of compensation permissible under Treas. Reg. section 1.409A-1(i)(2) as said Chief Executive Officer shall determine in his or her discretion, and
each Specified Employee so identified shall be treated as a Specified Employee for the purposes of this Agreement for the entire 12-month period beginning on the April 1 following a December 31
Specified Employee identification date. 
 (f) Separation Date. For purposes of this Agreement, “Separation Date”
shall mean the date on which the Executive’s Separation from Service occurs. 
 11. No Mitigation. In no event shall the Executive be obligated
to seek other employment or take any other action by way of mitigation of the amounts payable to the Executive under any of the provisions of this Agreement, and such amounts shall not be reduced whether or not the Executive obtains other
employment. 
 12. Indemnification; Directors and Officers Insurance. The Company shall (a) during the Employment Term and thereafter, indemnify
(and advance expenses to) Executive to the fullest extent permitted by the laws of the State of Delaware from time to time in effect against and in respect of any claims, actions, suits, proceedings, demands, judgments, costs, expenses (including
reasonable attorneys’ fees), losses and damages resulting from the Executive’s good faith performance of the Executive’s duties and obligations with the Company and shall provide related advancement of expenses to the greatest extent
permitted under applicable law and (b) ensure that during the Employment Term, Noble-Cayman acquires and maintains directors and officers liability insurance covering the Executive (and to the extent Noble-Cayman desires, other directors and
officers of Noble-Cayman and/or the Company and its affiliated companies) to the extent it is available at commercially reasonable rates as determined by the Noble-Cayman 

  
 17 

 
Board; provided, however, that in no event shall the Executive be entitled to indemnification or advancement of expenses under this Paragraph 12 with respect to any proceeding or matter
therein brought or made by the Executive against the Company or Noble-Cayman. The rights of indemnification and to receive advancement of expenses as provided in this Paragraph 12 shall not be deemed exclusive of any other rights to which the
Executive may at any time be entitled under applicable law, the Certificate of Incorporation or Bylaws of the Company, the Articles of Association of Noble-Cayman, any agreement, a vote of shareholders, a resolution of the Board or the Noble-Cayman
Board, or otherwise. The provisions of this Paragraph 12 shall continue in effect notwithstanding termination of the Executive’s employment hereunder for any reason. 

13. Injunctive Relief. In recognition of the fact that a breach by the Executive of any of the provisions of Paragraph 9 shall cause irreparable damage
to the Company and/or its affiliated companies for which monetary damages alone may not constitute an adequate remedy, the Company shall be entitled as a matter of right (without being required to prove damages or furnish any bond or other security)
to obtain a restraining order, an injunction, an order of specific performance, or other equitable or extraordinary relief from any court of competent jurisdiction restraining any further violation of such provisions by the Executive or requiring
the Executive to perform the Executive’s obligations hereunder. Such right to equitable or extraordinary relief shall not be exclusive but shall be in addition to all other rights and remedies to which the Company or any of its affiliated
companies may be entitled at law or in equity, including without limitation the right to recover monetary damages for the breach by the Executive of any of the provisions of this Agreement. 

14. Governing Law. This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of Texas, without regard to
the principles of conflicts of laws thereof. 
 15. Notices. All notices, requests, demands and other communications required or permitted to be given
or made hereunder by either party hereto shall be in writing and shall be deemed to have been duly given or made (i) when delivered personally, (ii) when sent by electronic mail or (iii) five days after being deposited in the United
States mail, first class registered or certified mail, postage prepaid, return receipt requested, to the party for which intended at the following addresses (or at such other addresses as shall be specified by the parties by like notice, except that
notices of change of address shall be effective only upon receipt): 
 If to the Company: 

Noble Services Company LLC 

13135 Dairy Ashford Rd. #800 

Sugar Land, TX 77478 
 Attn:
General Counsel 
 Email: Legal@noblecorp.com 

If to the Executive: 
 To the
most recent email address or mailing address of Executive set forth in the personnel records of the Company. 

  
 18 

 16. Binding Effect; Assignment; No Third Party Benefit. 

(a) This Agreement is personal to the Executive and without the prior written consent of the Company shall not be assignable by the Executive
otherwise than by will or the laws of descent and distribution. This Agreement shall inure to the benefit of and shall be enforceable by the Executive’s legal representatives. 

(b) This Agreement shall inure to the benefit of and be binding upon the Company and its successors and assigns. 

(c) The Company shall require any successor or assign (whether direct or indirect, by purchase, merger, consolidation, amalgamation or
otherwise) to all or substantially all the business and/or assets of the Company, by agreement in writing in form and substance reasonably satisfactory to the Executive, expressly, absolutely and unconditionally to assume and agree to perform this
Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession or assignment had taken place. As used in this Agreement, the “Company” shall mean the Company as
hereinbefore defined and any successor or assign to the business and/or assets of the Company as aforesaid which executes and delivers the agreement provided for in this Paragraph 16(c) or which otherwise becomes bound by all the terms and
provisions of this Agreement by operation of law. The Company shall require that the guaranty of Noble-Cayman of the obligations of the Company under this Agreement shall contain a similar provision regarding any successor or assign of Noble-Cayman.

 (d) Nothing in this Agreement, express or implied, is intended to or shall confer upon any person other than the parties hereto and
Noble-Cayman, and their respective heirs, legal representatives, successors and permitted assigns, any rights, benefits or remedies of any nature whatsoever under or by reason of this Agreement; provided, however, that the Company and its
affiliated companies are express third party beneficiaries of the provisions of Paragraph 6 and Paragraph 9. 
 17. Miscellaneous. 

(a) Amendment. This Agreement may not be modified or amended in any respect except by an instrument in writing signed by the party
against whom such modification or amendment is sought to be enforced. No person, other than pursuant to a resolution of the Board or a committee thereof, which resolution is approved by the Noble-Cayman Board or a committee thereof, shall have
authority on behalf of the Company to agree to modify, amend or waive any provision of this Agreement or anything in reference thereto. 

(b) Waiver. Any term or condition of this Agreement may be waived at any time by the party hereto which is entitled to have the benefit
thereof, but such waiver shall only be effective if evidenced by a writing signed by such party, and a waiver on one occasion shall not be deemed to be a waiver of the same or any other type of breach on a future occasion. No failure or delay by a
party hereto in exercising any right or power hereunder shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right or power. 

  
 19 

 (c) Taxes. The Company and/or its affiliated companies may withhold from any amounts
payable under this Agreement such federal, state, local or foreign taxes as it determines shall be required to be withheld pursuant to any applicable law or regulation. To the extent applicable, it is intended that the compensation arrangements and
benefits under this Agreement shall be made and provided in a manner that is either exempt from or otherwise intended to avoid taxation under Section 409A and Section 457A of the Code and the rules and regulations thereunder. Any ambiguity
in this Agreement shall be interpreted in accordance with the foregoing. The Executive acknowledges that neither the Company nor any of its affiliated companies have made any representations as to the treatment of the compensation and benefits
provided hereunder and the Executive has been advised to obtain his own tax advice. Each amount or benefit payable pursuant to this Agreement shall be deemed a separate payment for purposes of Section 409A. To the extent that the reimbursement
of any expenses or the provision of any in-kin benefit pursuant to this Agreement is subject to Section 409A, (i) the amount of such expenses eligible for reimbursement or in-kind benefits to be provided hereunder during any one calendar year shall not affect the amount of such expenses eligible for reimbursement or ink-kind benefits to be
provided in any other calendar year (provided, however, that the foregoing shall not apply to any limit on the amount of any expenses incurred by the Executive that may be reimbursed or paid under the terms of the Company’s medical plan
if such limit is imposed on all similarly situated participants in such plan); (ii) all such expenses eligible for reimbursement hereunder shall be paid to the Executive no later than the December
31st of the calendar year following the calendar year in which such expenses were incurred (or such earlier date as provided under the Company’s policies) and (iii) the Executive’s
right to receive any such reimbursements or in-kind benefits shall not be subject to liquidation or exchange for any other benefit. If the parties hereto determine that any provision of this Agreement is not
in compliance with Section 409A, they will negotiate in good faith to modify such provision to make it compliant, preserving, to the maximum extent possible, the original economic intent of the provision. 

(d) Nonalienation of Benefits. The Executive shall not have any right to pledge, hypothecate, anticipate or in any way create a lien
upon any payments or other benefits provided under this Agreement; and no benefits payable hereunder shall be assignable in anticipation of payment either by voluntary or involuntary acts, or by operation of law, except by will or pursuant to the
laws of descent and distribution. 
 (e) Clawback. Notwithstanding any other provision of this Agreement to the contrary, any
incentive compensation (whether cash or equity) received by the Executive which is subject to recovery under any law, government regulation, order or stock exchange listing requirement, will be subject to such deductions and clawback (recovery) as
may be required to be made pursuant to law, government regulation, order or stock exchange listing requirement (“Policy”). The Executive agrees and consents to the Company’s application, implementation and enforcement of any
Policy and any provision of applicable law relating to cancellation, recession, payback or recoupment of incentive compensation and expressly agrees that the Company may take such actions as are necessary to effectuate any Policy. 

(f) Severability. If any provision of this Agreement is held to be invalid or unenforceable, (a) this Agreement shall be considered
divisible, (b) such provision shall be deemed inoperative to the extent it is deemed invalid or unenforceable, and (c) in all other respects this Agreement shall remain in full force and effect; provided, however, that if any such
provision may be made valid or enforceable by limitation thereof, then such provision shall be deemed to be so limited and shall be valid and/or enforceable to the maximum extent permitted by applicable law. 

  
 20 

 (g) Entire Agreement. This Agreement constitutes the entire agreement between the
parties hereto concerning the subject matter hereof, and from and after the date of this Agreement, this Agreement shall supersede any other prior agreement or understanding, both written and oral, including, but not limited to the Employment
Agreement dated April 26, 2019, between the parties with respect to such subject matter, including, without limitation, any employment agreement or change of control agreement. 

(h) Captions. The captions herein are inserted for convenience of reference only, do not constitute a part of this Agreement, and shall
not affect in any manner the meaning or interpretation of this Agreement. 
 (i) References. All references in this Agreement to
Paragraphs, subparagraphs and other subdivisions refer to the Paragraphs, subparagraphs and other subdivisions of this Agreement unless expressly provided otherwise. The words “this Agreement”, “herein”, “hereof’,
“hereby”, “hereunder” and words of similar import refer to this Agreement as a whole and not to any particular subdivision unless expressly so limited. Whenever the words “include”, “includes” and
“including” are used in this Agreement, such words shall be deemed to be followed by the words “without limitation”. Words in the singular form shall be construed to include the plural and vice versa, unless the context otherwise
requires. 
 [Execution page follows] 

  
 21 

 IN WITNESS WHEREOF, the Company has caused this Agreement to be executed on its behalf by
its duly authorized officer, and the Executive has executed this Agreement. 
  

			
	COMPANY
	
	Noble Services Company LLC
		
	By:	 	 /s/ Richard B. Barker

	Name: Richard B. Barker
	Title: Senior Vice President, Chief Financial Officer
	
	EXECUTIVE
	
	 /s/ Robert Eifler

	Name: Robert Eifler

  
 22 

 EXHIBIT A 
  

					
	Position:	  	 	President, Chief Executive Officer	 
	 Base Salary:
	  	$	675,000.00	 
	 Target Percentage (% of Base Salary):
	  	 	110	% 

  
 23 

 GUARANTY 

This DEED OF GUARANTY is made and effective as of February 5, 2021 by Noble Corporation, an exempted company incorporated in the Cayman
Islands with limited liability (the “Parent Company”), for the benefit of Robert Eifler (the “Executive”); 

WITNESSETH: 
 WHEREAS, Noble
Services Company LLC, a Delaware limited liability company and an indirect, wholly owned subsidiary of the Parent Company (“Noble”), has entered into an Executive Employment Agreement with the Executive of even date herewith (the
“Employment Agreement”); 
 WHEREAS, the Parent Company desires to guarantee the payment by Noble of certain obligations
under the Employment Agreement and the Board of Directors of the Parent Company has determined that it is reasonable and prudent for the Parent Company to deliver this Guaranty and necessary to promote and ensure the best interests of the Parent
Company and its shareholders; 
 NOW, THEREFORE, in consideration of the premises, the Parent Company hereby irrevocably and unconditionally
guarantees, as primary obligor, the due and punctual payment by Noble of its obligations, all and singular, under the Employment Agreement. This Guaranty shall survive any liquidation of Noble or any of its subsidiaries. This Guaranty shall be
governed by and construed in accordance with the laws of the State of Texas. 
 The obligations of the Parent Company hereunder shall be
absolute and unconditional and shall remain in full force and effect until the termination of the Employment Agreement or the complete performance by Noble of its payment obligations thereunder. 

The Parent Company shall require any successor or assign (whether direct or indirect, by purchase, merger, reorganization, consolidation,
amalgamation or otherwise) to all or substantially all the business and/or assets of the Parent Company, by agreement in writing in form and substance reasonably satisfactory to the Executive, expressly, absolutely and unconditionally to assume and
agree to perform this Guaranty in the same manner and to the same extent that the Parent Company would be required to perform it if no such succession or assignment had taken place. As used in this Guaranty, the “Parent Company”
shall mean the Parent Company as hereinbefore defined and any successor or assign to the business and/or assets of the Parent Company as aforesaid which executes and delivers the agreement provided for in this paragraph or which otherwise becomes
bound by all the terms and provisions of this Guaranty by operation of law. 

  
 24 

 IN WITNESS WHEREOF, the Parent Company has caused this Deed of Guaranty to be executed as a
deed on its behalf, and duly delivered, as of the date first above set forth. 
 EXECUTED as a DEED by 

NOBLE CORPORATION 
  

			
	 Acting by: /s/ Richard B.
Barker                            

 

	 Name: Richard B. Barker
  

	 Title: Senior Vice President, Chief Financial Officer

 

	 In the presence of: Priscilla
Heistad                        
  

	 Witness signature:
/s/ Priscilla Heistad                    
  

	 Witness Name: Priscilla
Heistad                            

 

	 Address: 13135 Dairy Ashford
Rd.                        
  

	 Sugar
Land,                                       
                     
  

	 TX
77478                                       
                         
  

	Occupation: Sr. Director Global HR                      

  
 25

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