Document:

EX-4.1

 Exhibit 4.1 

REGISTRATION RIGHTS AND LOCK-UP AGREEMENT 

This REGISTRATION RIGHTS AND LOCK-UP AGREEMENT (this “Agreement”) is made as of
[●], 2020, by and among (i) ARKO Corp., a Delaware corporation (“Pubco”), (ii) each of the Persons listed on Schedule A attached hereto (the “Schedule of Holders”) as of the date hereof, and
(iii) each of the other Persons set forth from time to time on the Schedule of Holders who, at any time, own securities of Pubco and enter into a joinder to this Agreement agreeing to be bound by the terms hereof (each Person identified in the
foregoing (ii) and (iii), a “Holder” and, collectively, the “Holders”). Unless otherwise provided in this Agreement, capitalized terms used herein shall have the meanings set forth in
Section 12 hereof. 
 WHEREAS, Haymaker Acquisition Corp. II (“Haymaker”) and certain of the
Holders (the “Original Holders”) are parties to that certain Registration Rights Agreement, dated as of June 6, 2019 (the “Original Haymaker RRA”); 

WHEREAS, the Original Holders currently hold an aggregate of 5,000,000 shares of Common Stock and the right to receive 4,000,000 Deferred
Shares (as defined in the BCA (as defined below)) (collectively, the “Founder Shares”); 
 WHEREAS, Haymaker, the officers
and directors of Haymaker (such officers and directors, collectively, the “Insiders”), and Haymaker Sponsor II, LLC (the “Sponsor”) entered into that certain letter agreement, dated as of June 6, 2019 (the
“Original Lock-Up Agreement”), pursuant to which, the Insiders and the Sponsor agreed to, among other things, certain restrictions on their ability to transfer securities of Haymaker; 

WHEREAS, certain of the Holders currently hold an aggregate of 4,000,000 warrants (the “Private Placement Warrants”) to
purchase, at an exercise price of $11.50 per share (subject to adjustment), shares of Common Stock; 
 WHEREAS, GPM Investments, LLC
(“GPM”), Arko Convenience Stores, LLC, and the other parties thereto entered into that certain Second Amended and Restated Registration Rights Agreement, dated as of February 28, 2020 (the “Original GPM RRA,”
and together with the Original Haymaker RRA and the Original Lock-Up Agreement, the “Original Agreements”), pursuant to which GPM granted certain registration rights to certain of its members;

 WHEREAS, Haymaker, Pubco, Punch US Sub, Inc., a Delaware corporation (“Merger Sub I”), Punch Sub Ltd., a company
organized under laws of the State of Israel (“Merger Sub II”), and ARKO Holdings Ltd. (“ARKO”) have entered into that certain Business Combination Agreement, dated as of [●], 2020 (as amended or supplemented
from time to time, the “BCA”), pursuant to which, among other things, Merger Sub I shall merge with and into Haymaker (the “Haymaker Merger”), with Haymaker surviving the Haymaker Merger as a wholly-owned subsidiary
of Pubco, and Merger Sub II shall merge with and into ARKO (the “ARKO Merger”), with ARKO surviving the ARKO Merger as a wholly-owned subsidiary of Pubco; and 

WHEREAS, each of the parties to the Original Agreements desire to terminate the Original Agreements and to provide for the terms and
conditions included herein and to include the recipients of the other Registrable Securities identified herein. 
 NOW, THEREFORE, in
consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties to this Agreement hereby agree as follows: 

1.    Resale Shelf Registration Rights. 

(a)    Registration Statement Covering Resale of Registrable Securities. Pubco shall prepare and file or cause to
be prepared and filed with the Commission, no later than thirty (30) days following the date of this 

  
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Agreement (the “Filing Deadline”), a Registration Statement for an offering to be made on a continuous basis pursuant to Rule 415 of the Securities Act registering the resale
from time to time by the Holders of all of the Registrable Securities held by the Holders (the “Resale Shelf Registration Statement”). The Resale Shelf Registration Statement shall be on Form
S-3 (“Form S-3”) or, if Form S-3 is not then available to Pubco, on Form
S-1 or such other appropriate form permitting Registration of such Registrable Securities for resale by such Holders. Pubco shall use reasonable best efforts to cause the Resale Shelf Registration Statement to
be declared effective as soon as possible after filing, but in no event later than the earlier of (i) sixty (60) days following the Filing Deadline or (ii) ten (10) Business Days after the Commission notifies Pubco that it will not review
the Resale Shelf Registration Statement, if applicable (the “Effectiveness Deadline”); provided, that the Effectiveness Deadline shall be extended by no more than ninety (90) days after the Filing Deadline if the Registration
Statement is reviewed by, and receives comments from, the Commission. Once effective, Pubco shall use reasonable best efforts to keep the Resale Shelf Registration Statement continuously effective and shall cause the Resale Shelf Registration
Statement to be supplemented and amended to the extent necessary to ensure that such Registration Statement is available or, if not available, to ensure that another Registration Statement is available, under the Securities Act at all times until
such date as all Registrable Securities covered by the Resale Shelf Registration Statement have been disposed of in accordance with the intended method(s) of distribution set forth in such Registration Statement or such securities have been
withdrawn (the “Effectiveness Period”). The Resale Shelf Registration Statement shall contain a Prospectus in such form as to permit any Holder to sell such Registrable Securities pursuant to Rule 415 under the Securities Act (or
any successor or similar provision adopted by the Commission then in effect) at any time beginning on the effective date for such Registration Statement (subject to lock-up restrictions provided in this
Agreement), and shall provide that such Registrable Securities may be sold pursuant to any method or combination of methods legally available to, and requested by, the Holders. 

(b)    Notification and Distribution of Materials. Pubco shall notify the Holders in writing of the effectiveness
of the Resale Shelf Registration Statement as soon as practicable, and in any event within one (1) Business Day after the Resale Shelf Registration Statement becomes effective, and shall furnish to them, without charge, such number of copies of
the Resale Shelf Registration Statement (including any amendments, supplements and exhibits), the Prospectus contained therein (including each preliminary prospectus and all related amendments and supplements) and any documents incorporated by
reference in the Resale Shelf Registration Statement or such other documents as the Holders may reasonably request in order to facilitate the sale of the Registrable Securities in the manner described in the Resale Shelf Registration Statement. 

(c)    Amendments and Supplements. Subject to the provisions of Section 1(a) above, Pubco
shall promptly prepare and file with the Commission from time to time such amendments and supplements to the Resale Shelf Registration Statement and Prospectus used in connection therewith as may be necessary to keep the Resale Shelf Registration
Statement effective and to comply with the provisions of the Securities Act with respect to the disposition of all the Registrable Securities during the Effectiveness Period. If any Resale Shelf Registration Statement filed pursuant to
Section 1(a) is filed on Form S-3 and thereafter Pubco becomes ineligible to use Form S-3 for secondary sales, Pubco shall promptly notify the
Holders of such ineligibility and shall file a shelf registration on Form S-1 or other appropriate form as promptly as practicable to replace the shelf registration statement on Form S-3 and use its reasonable best efforts to have such replacement Resale Shelf Registration Statement declared effective as promptly as practicable and to cause such replacement Resale Shelf Registration Statement to
remain effective, and shall cause the Resale Shelf Registration Statement to be supplemented and amended to the extent necessary to ensure that such Resale Shelf Registration Statement is available or, if not available, that another Resale Shelf
Registration Statement is available, for the resale of all the Registrable Securities held by the Holders until all such Registrable Securities have ceased to be Registrable Securities; provided, however, that at any time Pubco once again becomes
eligible to use Form S-3, Pubco shall cause such replacement Resale Shelf Registration Statement to be amended, or shall file a new replacement Resale Shelf Registration Statement, such that the Resale Shelf
Registration Statement is once again on Form S-3. 

  
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 (d)    Notwithstanding the registration obligations set forth in this
Section 1, in the event the Commission informs Pubco that all of the Registrable Securities cannot, as a result of the application of Rule 415, be registered for resale as a secondary offering on a single registration
statement, Pubco agrees to promptly (i) inform each of the holders thereof and shall file amendments to the Resale Shelf Registration Statement as required by the Commission and/or (ii) withdraw the Resale Shelf Registration Statement and
file a new registration statement (a “New Registration Statement”), on Form S-3, or if Form S-3 is not then available to Pubco for such registration
statement, on such other form available to register for resale the Registrable Securities as a secondary offering; provided, however, that prior to filing such amendment or New Registration Statement, Pubco shall advocate with the Commission for the
registration of all of the Registrable Securities in accordance with any publicly-available written or oral guidance, comments, requirements or requests of the Commission staff (the “SEC Guidance”), including without limitation, the
Manual of Publicly Available Telephone Interpretations D.29. Notwithstanding any other provision of this Agreement, if any SEC Guidance sets forth a limitation of the number of Registrable Securities permitted to be registered on a particular
Registration Statement as a secondary offering (and notwithstanding that Pubco used diligent efforts to advocate with the Commission for the registration of all or a greater number of Registrable Securities), unless otherwise directed in writing by
a holder as to its Registrable Securities, the number of Registrable Securities to be registered on such Registration Statement will be reduced on a pro rata basis based on the total number of Registrable Securities held by the Holders, subject to a
determination by the Commission that certain Holders must be reduced first based on the number of Registrable Securities held by such Holders. In the event Pubco amends the Resale Shelf Registration Statement or files a New Registration Statement,
as the case may be, under clauses (i) or (ii) above, Pubco shall file with the Commission, as promptly as allowed by Commission or SEC Guidance provided to Pubco or to registrants of securities in general, one or more registration statements on
Form S-3 or such other form available to register for resale those Registrable Securities that were not registered for resale on the Resale Shelf Registration Statement, as amended, or the New Registration
Statement. 
 (e)    Registrations effected pursuant to this Section 1 shall not be counted as
Demand Registrations effected pursuant to Section 2. 
 2.    Demand Registrations.

 (a)    Requests for Registration. Subject to the terms and conditions of this Agreement, at any time or from
time to time, the holders of Registrable Securities may request registration under the Securities Act of all or any portion of their Registrable Securities on Form S-1 or any similar long-form registration
statement (“Long-Form Registrations”) or, if available, on Form S-3 (including a shelf registration pursuant to Rule 415 under the Securities Act) or any similar short-form registration
statement, including an automatic shelf registration statement (as defined in Rule 405) (an “Automatic Shelf Registration Statement”), if available to Pubco (“Short-Form Registrations”) in accordance with
Section 2(b) and Section 2(c) below (such holders being referred to herein as the “Initiating Holders” and all registrations requested by the Initiating Holders being referred to
herein as “Demand Registrations”). Each request for a Demand Registration shall specify the approximate number of Registrable Securities requested to be registered and the intended method of distribution. Within five
(5) Business Days after receipt of any such request, Pubco shall give written notice of such requested registration to all other holders of Registrable Securities and, subject to the terms and conditions set forth herein, shall include in such
registration (and in all related registrations and qualifications under state blue sky laws or in compliance with other registration requirements and in any related underwriting) all such Registrable Securities with respect to which Pubco has
received written requests for inclusion therein within five (5) Business Days after the receipt of Pubco’s notice. Each holder of Registrable Securities agrees that such holder shall treat as confidential the receipt of the notice of
Demand Registration and shall not disclose or use the information contained in such notice of Demand Registration without the prior written consent of Pubco 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. 

(b)    Long-Form Registrations. (i) The Holders holding a majority of the Registrable Securities may request
two (2) Long-Form Registrations, (ii) GPM HP SCF Investor, LLC, GPM Owner LLC, and the Ares 

  
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Entities holding in the aggregate at least two-thirds of the Registrable Securities held by such Holders may request one (1) Long-Form Registration,
(iii) Arie Kotler (including Holders affiliated with Mr. Kotler) and Morris Willner (including Holders affiliated with Mr. Willner) holding in the aggregate at least two-thirds of the
Registrable Securities held by such Holders may request one (1) Long-Form Registration, and (iv) [MSD Entities] holding in the aggregate at least two-thirds of the Registrable Securities held by such
Holders may request one (1) Long-Form Registration, in each case of the foregoing subclauses (i) – (iv), in which Pubco shall pay all Registration Expenses whether or not any such Long-Form Registration has become effective; provided that,
Pubco shall not be obligated to effect, or to take any action to effect, any Long-Form Registration unless the aggregate market price of the Registrable Securities requested to be registered in such Long-Form Registration exceeds $25,000,000 at the
time of request. A registration shall not count as the sole permitted Long-Form Registration until it has become effective and unless the holders of Registrable Securities are able to register and sell at least 90% of the Registrable Securities
requested to be included in such registration; provided that in any event Pubco shall pay all Registration Expenses in connection with any registration initiated as a Long-Form Registration whether or not it has become effective and whether or not
such registration has counted as one of the permitted Long-Form Registrations hereunder. 
 (c)    Short-Form
Registrations. In addition to the Long-Form Registrations provided pursuant to Section 2(b), (i) (A) each of the Holders holding a majority of the Registrable Securities (other than the Holders holding the Founder
Shares) and (B) the Holders holding a majority of the Founder Shares shall be entitled to request an unlimited number of Short-Form Registrations, and (ii) each of (A) GPM HP SCF Investor, LLC, (B) Arie Kotler (including Holders
affiliated with Mr. Kotler), (C) Morris Willner (including Holders affiliated with Mr. Willner), (D) GPM Owner LLC, and (E) [MSD Entities] shall be entitled to one (1) Short-Form Registration per year, in each case of the foregoing
clauses (i) and (ii), in which Pubco shall pay all Registration Expenses whether or not any such Short-Form Registration has become effective; provided, however, that Pubco shall not be obligated to effect any such Short-Form Registration:
(i) if the holders of Registrable Securities, together with the holders of any other securities of Pubco entitled to inclusion in such Short-Form Registration, propose to sell Registrable Securities with an aggregate market price at the time of
request of less than $5,000,000, or (ii) if Pubco has, within the twelve (12) month period preceding the date of such request, already effected two (2) Short-Form Registrations for the holders of Registrable Securities requesting a
Short-Form Registration pursuant to this Section 2(c). Demand Registrations shall be Short-Form Registrations whenever Pubco is permitted to use any applicable short form registration and if the managing underwriters (if
any) agree to the use of a Short-Form Registration. For so long as Pubco is subject to the reporting requirements of the Exchange Act, Pubco shall use its reasonable best efforts to make Short-Form Registrations available for the offer and sale of
Registrable Securities. If Pubco is qualified to and, pursuant to the request of the holders of a majority of the Registrable Securities or the Initiating Holder(s), as applicable, has filed with the Commission a registration statement under the
Securities Act on Form S-3 pursuant to Rule 415 (a “Shelf Registration”), then Pubco shall use its reasonable best efforts to cause the Shelf Registration to be declared effective under the
Securities Act as soon as practicable after filing, and, if Pubco is a WKSI at the time of any such request, to cause such Shelf Registration to be an Automatic Shelf Registration Statement, and once effective, Pubco shall cause such Shelf
Registration to remain effective (including by filing a new Shelf Registration, if necessary) for a period ending on the earlier of (i) the date on which all Registrable Securities included in such registration have been sold or distributed
pursuant to the Shelf Registration or (ii) the date as of which all of the Registrable Securities included in such registration are able to be sold within a 90-day period in compliance with Rule 144 under
the Securities Act. If for any reason Pubco ceases to be a WKSI or becomes ineligible to utilize Form S-3, Pubco shall prepare and file with the Commission a registration statement or registration statements
on such form that is available for the sale of Registrable Securities. 
 (d)    Shelf Takedowns. At any time
when the Resale Shelf Registration Statement or a Shelf Registration for the sale or distribution by holders of Registrable Securities on a delayed or continuous basis pursuant to Rule 415, including by way of an underwritten offering, block sale or
other distribution plan (each, a “Resale Shelf Registration”) is effective and its use has not been otherwise suspended by Pubco in accordance with the terms of Section 2(f) below, upon a written demand (a
“Takedown Demand”) by any Holder that is, in 

  
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either case, a Shelf Participant holding Registrable Securities at such time (the “Initiating Holder”), Pubco will facilitate in the manner described in this Agreement a
“takedown” of Registrable Securities off of such Resale Shelf Registration (a “takedown offering”) and Pubco shall pay all Registration Expenses in connection therewith; provided that Pubco will provide in connection with
any marketed underwritten takedown offering, at least five (5) Business Days’ notice of such Takedown Demand to each holder of Registrable Securities (other than the Initiating Holder) that is a Shelf Participant. In connection with any
marketed underwritten takedown offering, if any Shelf Participants entitled to receive a notice pursuant to the preceding sentence request inclusion of their Registrable Securities (by notice to Pubco, which notice must be received by Pubco no later
than three (3) Business Days following the date notice is given to such participant), the Initiating Holder and the other Shelf Participants that request inclusion of their Registrable Securities shall be entitled to sell their Registrable
Securities in such offering. Each holder of Registrable Securities that is a Shelf Participant agrees that such holder shall treat as confidential the receipt of the notice of a Takedown Demand and shall not disclose or use the information contained
in such notice without the prior written consent of Pubco 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. 
 (e)    Priority on Demand Registrations and Takedown Offerings. Pubco shall not include in
any Demand Registration that is an underwritten offering any securities that are not Registrable Securities without the prior written consent of the managing underwriters and the holders of a majority of the Registrable Securities then outstanding.
If a Demand Registration or a takedown offering is an underwritten offering and the managing underwriters advise Pubco in writing that in their opinion the number of Registrable Securities and, if permitted hereunder, other securities requested to
be included in such offering exceeds the number of Registrable Securities and other securities, if any, which can be sold in an orderly manner in such offering within a price range acceptable to the holders of a majority of the Registrable
Securities held by Initiating Holders, Pubco shall include in such offering prior to the inclusion of any securities which are not Registrable Securities the maximum number of Registrable Securities requested to be included in such registration (if
necessary, allocated pro rata among the holders of such Registrable Securities on the basis of the number of Registrable Securities owned by each such holder). 

(f)    Restrictions on Demand Registrations and Takedown Offerings. Any demand for the filing of a registration
statement or for a registered offering (including a takedown offering) hereunder will be subject to the constraints of any applicable lock-up arrangements, and any such demand must be deferred until such lock-up arrangements no longer apply. 
 (i)    Pubco shall not be
obligated to effect any Demand Registration within 30 days prior to Pubco’s good faith estimate of the date of filing of an underwritten public offering of Pubco’s securities and for such a period of time after such a filing as the
managing underwriters request, provided that such period shall not exceed 90 days from the effective date of any such underwritten public offering. Pubco may postpone, for up to 60 days from the date of the request (the “Suspension
Period”), the filing or the effectiveness of a registration statement for a Demand Registration or suspend the use of a prospectus that is part of any Resale Shelf Registration (and therefore suspend sales of the Registrable Securities
included therein) by providing written notice to the holders of Registrable Securities if the board of directors of Pubco reasonably determines in good faith that the offer or sale of Registrable Securities would be expected to have a material
adverse effect on any proposal or plan by Pubco or any subsidiary thereof to engage in any material acquisition or disposition of assets or stock (other than in the ordinary course of business) or any material merger, consolidation, tender offer,
recapitalization, reorganization or similar transaction or would require Pubco to disclose any material nonpublic information which would reasonably be likely to be detrimental to Pubco and its subsidiaries; provided that in such event, the holders
of Registrable Securities initially requesting such Demand Registration or Takedown Demand shall be entitled to withdraw such request. Pubco may delay or suspend the effectiveness of a Demand Registration or takedown offering pursuant to this
Section 2(f)(i) only twice in any consecutive twelve-month period; provided that, for the avoidance of 

  
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doubt, Pubco may in any event delay or suspend the effectiveness of any Demand Registration or takedown offering in the case of an event described under Section 5(g) to
enable it to comply with its obligations set forth in Section 5(g). Pubco may extend the Suspension Period for an additional consecutive 30 days with the consent of the Applicable Approving Party; provided further that
under no circumstances shall the aggregate Suspension Periods during any consecutive twelve-month period exceed 90 days. 

(ii)    In the case of an event that causes Pubco to suspend the use of any Resale Shelf Registration as
set forth in Section 2(f)(i) or pursuant to Section 5(g) (a “Suspension Event”), Pubco shall give a notice to the holders of Registrable Securities registered pursuant to such
Shelf Registration (a “Suspension Notice”) to suspend sales of the Registrable Securities and such notice shall state generally the basis for the notice and that such suspension shall continue only for so long as the Suspension
Event or its effect is continuing. A holder of Registrable Securities shall not effect any sales of the Registrable Securities pursuant to such Resale Shelf Registration (or such filings) at any time after it has received a Suspension Notice from
Pubco and prior to receipt of an End of Suspension Notice (as defined below). Each holder of Registrable Securities agrees that such holder shall treat as confidential the receipt of the Suspension Notice and shall not disclose or use the
information contained in such Suspension Notice without the prior written consent of Pubco until such time as the information contained therein is or becomes available to the public generally, other than as a result of disclosure by such holder in
breach of the terms of this Agreement. The holders of Registrable Securities may recommence effecting sales of the Registrable Securities pursuant to the Resale Shelf Registration (or such filings) following further written notice to such effect (an
“End of Suspension Notice”) from Pubco, which End of Suspension Notice shall be given by Pubco to the holders of Registrable Securities and to such holders’ counsel, if any, promptly following the conclusion of any Suspension
Event (it being understood that, in the case of a Suspension Event pursuant to Section 2(f)(i), such Suspension Event shall automatically end, with or without delivery of an End of Suspension Notice, if the Suspension Period thereof pursuant to
such Section 2(f)(i) shall have expired). 
 (iii)    Notwithstanding any provision herein to the
contrary, if Pubco shall give a Suspension Notice with respect to any Resale Shelf Registration pursuant to this Section 2(f), Pubco agrees that it shall extend the period of time during which such Resale Shelf Registration
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
provide copies of the supplemented or amended prospectus necessary to resume sales, with respect to each Suspension Event; provided that such period of time shall not be extended beyond the date that Common Stock covered by such Resale Shelf
Registration are no longer Registrable Securities. 
 (g)    Selection of Underwriters. In connection with any
Demand Registration, the Applicable Approving Party shall have the right to select the investment banker(s) and manager(s) to administer the offering; provided that such selection shall be subject to the written consent of Pubco, which consent will
not be unreasonably withheld, conditioned or delayed. If any takedown offering is an underwritten offering, the Applicable Approving Party shall have the right to select the investment banker(s) and manager(s) to administer such takedown offering.
In each case, the Applicable Approving Party shall have the right to approve the underwriting arrangements with such investment banker(s) and manager(s) on behalf of all holders of Registrable Securities participating in such offering. All Holders
proposing to distribute their securities through underwriting shall (together with Pubco) enter into an underwriting agreement in customary form with the underwriter or underwriters selected for such underwriting. 

(h)    Other Registration Rights. Pubco represents and warrants to each holder of Registrable Securities that the
registration rights granted in this Agreement do not conflict with any other registration rights granted by Pubco. Except as provided in this Agreement, Pubco shall not grant to any Persons the right to request Pubco to

  
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register any equity securities of Pubco, or any securities, options or rights convertible or exchangeable into or exercisable for such securities, without the prior written consent of the holders
of a majority of the Registrable Securities then outstanding. 
 (i)    Revocation of Demand Notice or Takedown
Notice. At any time prior to the effective date of the registration statement relating to a Demand Registration or the “pricing” of any offering relating to a Takedown Demand, the holders of a majority of the Registrable Securities or
the Initiating Holder(s), as applicable, that requested such Demand Registration or takedown offering may revoke such request for a Demand Registration or takedown offering on behalf of all holders of Registrable Securities participating in such
Demand Registration or takedown offering without liability to such holders of Registrable Securities, in each case by providing written notice to Pubco. 

3.    Piggyback Registrations. 

(a)    Right to Piggyback. Whenever Pubco proposes to register any of its securities under the Securities Act
(other than (i) pursuant to the Resale Shelf Registration Statement, (ii) pursuant to a Demand Registration, (iii) pursuant to a Takedown Demand, (iv) in connection with registrations on Form
S-4 or S-8 promulgated by the Commission or any successor forms, (v) a registration relating solely to employment benefit plans, (vi) in connection with a
registration the primary purpose of which is to register debt securities, or (vii) a registration on any form that does not include substantially the same information as would be required to be included in a registration statement covering the
sale of Registrable Securities) and the registration form to be used may be used for the registration of Registrable Securities (a “Piggyback Registration”), Pubco shall give prompt written notice to all holders of Registrable
Securities of its intention to effect such a Piggyback Registration and, subject to the terms of Sections 3(c) and 3(d) hereof, shall include in such Piggyback Registration (and in all related registrations or qualifications under blue
sky laws or in compliance with other registration requirements and in any related underwriting) all Registrable Securities with respect to which Pubco has received written requests for inclusion therein within 10 business days after the delivery of
Pubco’s notice; provided that any such other holder may withdraw its request for inclusion at any time prior to executing the underwriting agreement or, if none, prior to the applicable registration statement becoming effective. 

(b)    Piggyback Expenses. The Registration Expenses of the holders of Registrable Securities shall be paid by
Pubco in all Piggyback Registrations, whether or not any such registration became effective. 
 (c)    Priority on
Primary Registrations. If a Piggyback Registration is an underwritten primary registration on behalf of Pubco, and the managing underwriters advise Pubco in writing that in their opinion the number of securities requested to be included in such
registration exceeds the number of securities which can be sold in such offering without adversely affecting the marketability, proposed offering price, timing or method of distribution of the offering, Pubco shall include in such registration
(i) first, the securities Pubco proposes to sell, (ii) second, the Registrable Securities requested to be included in such registration by the Holders which, in the opinion of such underwriters, can be sold, without any such adverse effect
(pro rata among the holders of such Registrable Securities on the basis of the number of Registrable Securities owned by each such holder), and (iii) third, other securities requested to be included in such registration which, in the opinion of
such underwriters, can be sold, without any such adverse effect. 
 (d)    Priority on Secondary Registrations.
If a Piggyback Registration is an underwritten secondary registration on behalf of holders of Pubco’s securities other than holders of Registrable Securities, and the managing underwriters advise Pubco in writing that in their opinion the
number of securities requested to be included in such registration exceeds the number of securities which can be sold in such offering without adversely affecting the marketability, proposed offering price, timing or method of distribution of the
offering, Pubco shall include in such registration (i) first, the securities requested to be included therein by the holders initially requesting such registration, (ii) second, the Registrable Securities requested to be included in such
registration by the Holders which, in the opinion of such underwriters, can be sold, without any such adverse 

  
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effect (pro rata among the holders of such Registrable Securities on the basis of the number of Registrable Securities owned by each such holder), and (iii) third, other securities requested
to be included in such registration which, in the opinion of such underwriters, can be sold, without any such adverse effect. 

(e)    Other Registrations. If Pubco has previously filed a registration statement with respect to Registrable
Securities pursuant to Section 2 or pursuant to this Section 3, and if such previous registration has not been withdrawn or abandoned, then Pubco shall not be required to file or cause to be
effected any other registration of any of its equity securities or securities convertible or exchangeable into or exercisable for its equity securities under the Securities Act (except on Form S-8 or any
successor form) at the request of any holder or holders of such securities until a period of at least 90 days has elapsed from the effective date of such previous registration. 

(f)    Right to Terminate Registration. Pubco shall have the right to terminate or withdraw any registration
initiated by it under this Section 3 whether or not any holder of Registrable Securities has elected to include securities in such registration. The Registration Expenses of such withdrawn registration shall be borne by
Pubco in accordance with Section 7. 
 4.    Agreements of Holders. 

(a)    Reserved. 

(b)    The holders of Registrable Securities shall use reasonable best efforts to provide such information as may
reasonably be requested by Pubco, or the managing underwriter, if any, in connection with the preparation of any Registration Statement, including amendments and supplements thereto, in order to effect the Registration Statement, including
amendments and supplements thereto, in order to effect the Registration of any Registrable Securities under the Securities Act pursuant to Section 3 and in connection with Pubco’s obligation to comply with federal and
applicable state securities laws. 
 5.    Registration Procedures. In connection with the Registration to be
effected pursuant to the Resale Shelf Registration Statement, and whenever the holders of Registrable Securities have requested that any Registrable Securities be registered pursuant to this Agreement or have initiated a takedown offering, Pubco
shall use its reasonable best efforts to effect the registration and the sale of such Registrable Securities in accordance with the intended method of disposition thereof, and pursuant thereto Pubco shall as expeditiously as reasonably possible:

 (a)    prepare in accordance with the Securities Act and all applicable rules and regulations promulgated thereunder
and file with the Commission a registration statement, and all amendments and supplements thereto and related prospectuses as may be necessary to comply with applicable securities laws, with respect to such Registrable Securities and use its
reasonable best efforts to cause such registration statement to become effective (provided that at least five (5) Business Days before filing a registration statement or prospectus or any amendments or supplements thereto, Pubco shall furnish
to counsel selected by the Applicable Approving Party copies of all such documents proposed to be filed, which documents shall be subject to the review and comment of such counsel); 

(b)    notify each holder of Registrable Securities of (A) the issuance by the Commission of any stop order
suspending the effectiveness of any registration statement or the initiation of any proceedings for that purpose, (B) the receipt by Pubco or its counsel of any notification with respect to the suspension of the qualification of the Registrable
Securities for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose, and (C) the effectiveness of each registration statement filed hereunder; 

(c)    prepare and file with the Commission such amendments and supplements to such registration statement and the
prospectus used in connection therewith as may be necessary to keep such registration statement effective for a period ending when all of the securities covered by such registration statement have 

  
 8 

 
been disposed of in accordance with the intended methods of distribution by the sellers thereof set forth in such registration statement (but not in any event before the expiration of any longer
period required under the Securities Act or, if such registration statement relates to an underwritten Public Offering, such longer period as in the opinion of counsel for the underwriters a prospectus is required by law to be delivered in
connection with sale of Registrable Securities by an underwriter or dealer) and comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement during such period in
accordance with the intended methods of disposition by the sellers thereof set forth in such registration statement; 

(d)    furnish to each seller of Registrable Securities thereunder such number of copies of such registration statement,
each amendment and supplement thereto, the prospectus included in such registration statement (including each preliminary prospectus), each Free-Writing Prospectus and such other documents as such seller may reasonably request in order to facilitate
the disposition of the Registrable Securities owned by such seller; 
 (e)    during any period in which a prospectus is
required to be delivered under the Securities Act, promptly file all documents required to be filed with the Commission, including pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Securities Act; 

(f)    use its reasonable best efforts to register or qualify such Registrable Securities under such other securities or
blue sky laws of such jurisdictions as the lead underwriter or the Applicable Approving Party reasonably requests and do any and all other acts and things which may be reasonably necessary or advisable to enable such seller to consummate the
disposition in such jurisdictions of the Registrable Securities owned by such seller (provided that Pubco shall not be required to (i) qualify generally to do business in any jurisdiction where it would not otherwise be required to qualify but
for this Section 4(f), (ii) consent to general service of process in any such jurisdiction or (iii) subject itself to taxation in any such jurisdiction); 

(g)    promptly notify in writing each seller of such Registrable Securities (i) after it receives notice thereof, of
the date and time when such registration statement and each post-effective amendment thereto has become effective or a prospectus or supplement to any prospectus relating to a registration statement has been filed and when any registration or
qualification has become effective under a state securities or blue sky law or any exemption thereunder has been obtained, (ii) after receipt thereof, of any request by the Commission for the amendment or supplementing of such registration
statement or prospectus or for additional information, and (iii) at any time when a prospectus relating thereto is required to be delivered under the Securities Act, of the happening of any event as a result of which the prospectus included in
such registration statement contains an untrue statement of a material fact or omits any fact necessary to make the statements therein not misleading, and, at the request of any such seller, Pubco promptly shall prepare, file with the Commission and
furnish to each such seller a reasonable number of copies of a supplement or amendment to such prospectus so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not contain an untrue statement of a
material fact or omit to state any fact necessary to make the statements therein not misleading; 
 (h)    cause all
such Registrable Securities to be listed on each securities exchange on which similar securities issued by Pubco are then listed and, if not so listed, to be listed on a securities exchange and, without limiting the generality of the foregoing, to
arrange for at least two market makers to register as such with respect to such Registrable Securities with FINRA; 

(i)    provide a transfer agent and registrar for all such Registrable Securities not later than the effective date of
such registration statement; 
 (j)    enter into and perform such customary agreements (including underwriting
agreements in customary form) and take all such other actions as the Applicable Approving Party or the underwriters, if any, reasonably request in order to expedite or facilitate the disposition of such Registrable Securities (including, without
limitation, effecting a stock split or a combination of shares and preparing for and participating in such 

  
 9 

 
number of “road shows”, investor presentations and marketing events as the underwriters managing such offering may reasonably request); 

(k)    make available for inspection by any seller of Registrable Securities, any underwriter participating in any
disposition pursuant to such registration statement and any attorney, accountant or other agent retained by any such seller or underwriter, all financial and other records, pertinent corporate and business documents and properties of Pubco as shall
be necessary to enable them to exercise their due diligence responsibility, and cause Pubco’s officers, managers, directors, employees, agents, representatives and independent accountants to supply all information reasonably requested by any
such seller, underwriter, attorney, accountant or agent in connection with such registration statement; 
 (l)    take
all reasonable actions to ensure that any Free-Writing Prospectus utilized in connection with any Demand Registration (including any Shelf Registration) or Piggyback Registration hereunder complies in all material respects with the Securities Act,
is filed in accordance with the Securities Act to the extent required thereby, is retained in accordance with the Securities Act to the extent required thereby and, when taken together with the related prospectus, shall not contain any untrue
statement of a material fact or omit to state a material fact necessary to make the statements therein, in light of the circumstances under which they were made, not misleading; 

(m)    otherwise use its reasonable best efforts to comply with all applicable rules and regulations of the Commission;

 (n)    permit any holder of Registrable Securities who, in its good faith judgment (based on the advice of counsel),
could reasonably be expected to be deemed to be an underwriter or a controlling Person of Pubco to participate in the preparation of such registration or comparable statement and to require the insertion therein of material furnished to Pubco in
writing, which in the reasonable judgment of such holder and its counsel should be included; 
 (o)    in the event of
the issuance of any stop order suspending the effectiveness of a registration statement, or of any order suspending or preventing the use of any related prospectus or suspending the qualification of any Common Stock included in such registration
statement for sale in any jurisdiction, Pubco shall use its reasonable best efforts promptly to obtain the withdrawal of such order; 

(p)    use its reasonable best efforts to cause such Registrable Securities covered by such registration statement to be
registered with or approved by such other governmental agencies or authorities as may be necessary to enable the sellers thereof to consummate the disposition of such Registrable Securities; 

(q)    cooperate with the holders of Registrable Securities covered by the registration statement and the managing
underwriter or agent, if any, to facilitate the timely preparation and delivery of certificates (not bearing any restrictive legends) representing securities to be sold under the registration statement and enable such securities to be in such
denominations and registered in such names as the managing underwriter, or agent, if any, or such holders may request; 

(r)    cooperate with each holder of Registrable Securities covered by the registration statement and each underwriter or
agent participating in the disposition of such Registrable Securities and their respective counsel in connection with any filings required to be made with FINRA; 

(s)    if such registration includes an underwritten public offering, use its reasonable best efforts to obtain a cold
comfort letter from Pubco’s independent public accountants and addressed to the underwriters, in customary form and covering such matters of the type customarily covered by cold comfort letters as the underwriters in such registration
reasonably request; 

  
 10 

 (t)    provide a legal opinion of Pubco’s outside counsel, dated
the effective date of such registration statement (and, if such registration includes an underwritten Public Offering, dated the date of the closing under the underwriting agreement), with respect to the registration statement, each amendment and
supplement thereto, the prospectus included therein (including the preliminary prospectus) and such other documents relating thereto in customary form and covering such matters of the type customarily covered by legal opinions of such nature, which
opinion shall be addressed to the underwriters; 
 (u)    if Pubco files an Automatic Shelf Registration Statement
covering any Registrable Securities, use its reasonable best efforts to remain a WKSI (and not become an ineligible issuer (as defined in Rule 405)) during the period during which such Automatic Shelf Registration Statement is required to remain
effective; 
 (v)    if Pubco does not pay the filing fee covering the Registrable Securities at the time an Automatic
Shelf Registration Statement is filed, pay such fee at such time or times as the Registrable Securities are to be sold; and 

(w)    subject to the terms of Section 2(c) and Section 2(d), if an
Automatic Shelf Registration Statement has been outstanding for at least three (3) years, at the end of the third year, refile a new Automatic Shelf Registration Statement covering the Registrable Securities, and, if at any time when Pubco is
required to re-evaluate its WKSI status Pubco determines that it is not a WKSI, use its reasonable best efforts to refile the registration statement on Form S-3 and keep
such registration statement effective (including by filing a new Resale Shelf Registration or Shelf Registration, if necessary) during the period throughout which such registration statement is required to be kept effective. 

6.    Termination of Rights. Notwithstanding anything contained herein to the contrary, the right of any Holder to
include Registrable Securities in any Demand Registration or any Piggyback Registration shall terminate on such date that such Holder may sell all of the Registrable Securities owned by such Holder pursuant to Rule 144 of the Securities Act without
any restrictions as to volume or the manner of sale or otherwise; provided, however, that with respect to any Holder whose rights have terminated pursuant to this Section 6, if following such a termination, such Holder
loses the ability to sell all of its Registrable Securities pursuant to Rule 144 of the Securities Act without any restrictions as to volume or the manner of sale or otherwise due to a change in interpretive guidance by the Commission, then such
Holder’s right to include Registrable Securities in any Demand Registration or any Piggyback Registration shall be reinstated until such time as the Holder is once again able to sell all of its Registrable Securities pursuant to Rule 144 of the
Securities Act without any restrictions as to volume or the manner of sale or otherwise; provided, further, that if after such termination, a Holder is issued Deferred Shares in accordance with the terms of the BCA, such Deferred Shares shall be
treated as Registrable Securities under this Agreement and such Holder shall be entitled to all of the rights under this Agreement with respect to such Deferred Shares. 

7.    Registration Expenses. 

(a)    All expenses incident to Pubco’s performance of or compliance with this Agreement, including, without
limitation, all registration, qualification and filing fees, listing fees, fees and expenses of compliance with securities or blue sky laws, stock exchange rules and filings, printing expenses, messenger and delivery expenses, fees and disbursements
of custodians, and fees and disbursements of counsel for Pubco and all independent certified public accountants, underwriters (excluding underwriting discounts and commissions) and other Persons retained by Pubco (all such expenses being herein
called “Registration Expenses”), shall be borne by Pubco as provided in this Agreement and, for the avoidance of doubt, Pubco also shall pay all of its internal expenses (including, without limitation, all salaries and expenses of
its officers and employees performing legal or accounting duties), the expense of any annual audit or quarterly review, and the expenses and fees for listing the securities to be registered on each securities exchange on which similar securities
issued by Pubco are then listed. Each Person that sells securities pursuant to a Demand Registration, a Takedown Demand or Piggyback Registration hereunder shall bear and pay all underwriting discounts and commissions and transfer taxes applicable
to the securities sold for such Person’s account. 

  
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 (b)    Pubco shall reimburse the holders of Registrable Securities
included in such registration for the reasonable fees and disbursements of one counsel and one local counsel (if necessary) chosen by the Applicable Approving Party for the purpose of rendering a legal opinion on behalf of such holders in connection
with any underwritten Demand Registration, takedown offering or Piggyback Registration. 
 (c)    To the extent
Registration Expenses are not required to be paid by Pubco, each holder of securities included in any registration hereunder shall pay those Registration Expenses allocable to the registration of such holder’s securities so included, and any
Registration Expenses not so allocable shall be borne by all sellers of securities included in such registration in proportion to the aggregate selling price of the securities to be so registered. 

8.    Indemnification. 

(a)    Pubco agrees to (i) indemnify and hold harmless, to the fullest extent permitted by law, each Holder and their
respective officers, directors, members, partners, agents, affiliates and employees and each Person who controls such Holder (within the meaning of the Securities Act or the Exchange Act) against all losses, claims, actions, damages, liabilities and
expenses caused by (A) any untrue or alleged untrue statement of material fact contained in any registration statement, prospectus or preliminary prospectus or any amendment thereof or supplement thereto or any omission or alleged omission of a
material fact required to be stated therein or necessary to make the statements therein not misleading, or (B) any violation or alleged violation by Pubco of the Securities Act or any other similar federal or state securities laws or any rule
or regulation promulgated thereunder applicable to Pubco and relating to action or inaction required of Pubco in connection with any such registration, qualification or compliance, and (ii) pay to each Holder and their respective officers,
directors, members, partners, agents, affiliates and employees and each Person who controls such Holder (within the meaning of the Securities Act or the Exchange Act), as incurred, any legal and any other expenses reasonably incurred in connection
with investigating, preparing or defending any such claim, loss, damage, liability or action, except insofar as the same are caused by or contained in any information furnished in writing to Pubco or any managing underwriter by such Holder expressly
for use therein; provided, however, that the indemnity agreement contained in this Section 9 shall not apply to amounts paid in settlement of any such claim, loss, damage, liability or action if such settlement is effected
without the consent of Pubco (which consent shall not be unreasonably withheld, conditioned or delayed), nor shall Pubco be liable in any such case for any such claim, loss, damage, liability or action to the extent that it solely arises out of or
is based upon an untrue statement of any material fact contained in the registration statement or omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, in each case to the
extent that such untrue statement or alleged untrue statement or omission or alleged omission was made in the registration statement, in reliance upon and in conformity with written information furnished by such Holder expressly for use in
connection with such registration statement. In connection with an underwritten offering, Pubco shall indemnify any underwriters or deemed underwriters, their officers and directors and each Person who controls such underwriters (within the meaning
of the Securities Act or the Exchange Act) to the same extent as provided above with respect to the indemnification of the holders of Registrable Securities. 

(b)    In connection with any registration statement in which a holder of Registrable Securities is participating, each
such holder shall furnish to Pubco in writing such information as Pubco reasonably requests for use in connection with any such registration statement or prospectus and, to the extent permitted by law, shall indemnify Pubco, its officers, directors,
employees, agents and representatives and each Person who controls Pubco (within the meaning of the Securities Act) against any losses, claims, damages, liabilities and expenses resulting from any untrue or alleged untrue statement of material fact
contained in the registration statement, prospectus or preliminary prospectus or any amendment thereof or supplement thereto or any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements
therein not misleading, but only to the extent that such untrue statement or omission is contained in any information so furnished in writing by such holder; provided that the obligation to indemnify shall be individual, not joint and several, for
each holder and shall be limited to the net amount of proceeds actually received by such holder from the sale of Registrable Securities pursuant to such registration statement. 

  
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 (c)    Any Person entitled to indemnification hereunder shall
(i) give prompt written notice to the indemnifying party of any claim with respect to which it seeks indemnification (provided that the failure to give prompt notice shall not impair any Person’s right to indemnification hereunder to the
extent such failure has not materially prejudiced the indemnifying party) and (ii) unless in such indemnified party’s reasonable judgment a conflict of interest between such indemnified and indemnifying parties may exist with respect to
such claim, permit such indemnifying party to assume the defense of such claim with counsel reasonably satisfactory to the indemnified party. If such defense is assumed, the indemnifying party shall not be subject to any liability for any settlement
made by the indemnified party without its consent (but such consent shall not be unreasonably withheld, conditioned or delayed). An indemnifying party who is not entitled to, or elects not to, assume the defense of a claim shall not be obligated to
pay the fees and expenses of more than one counsel (as well as one local counsel) for all parties indemnified by such indemnifying party with respect to such claim, unless in the reasonable judgment of any indemnified party a conflict of interest
may exist between such indemnified party and any other of such indemnified parties with respect to such claim. In such instance, the conflicted indemnified parties shall have a right to retain one separate counsel, chosen by the holders of a
majority of the Registrable Securities included in the registration, at the expense of the indemnifying party. No indemnifying party, in the defense of such claim or litigation, shall, except with the consent of each indemnified party, consent to
the entry of any judgment or enter into any settlement which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such indemnified party of a release from all liability in respect to such claim or litigation.

 (d)    Each party hereto agrees that, if for any reason the indemnification provisions contemplated by Sections
8(a) or 8(b) are unavailable to or insufficient to hold harmless an indemnified party in respect of any losses, claims, damages, liabilities or expenses (or actions in respect thereof) referred to therein, then each indemnifying party, in
lieu of indemnifying such indemnified party, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages, liabilities or expenses (or actions in respect thereof) in such proportion as is
appropriate to reflect the relative fault of the indemnifying party and the indemnified party in connection with the actions which resulted in such losses, claims, damages, liabilities or expenses, as well as any other relevant equitable
considerations. The relative fault of such indemnifying party and indemnified party shall be determined by reference to, among other things, whether any action in question, including any untrue or alleged untrue statement of a material fact or
omission or alleged omission to state a material fact, relates to information supplied by such indemnifying party or indemnified party, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent
such statement or omission. The parties hereto agree that it would not be just or equitable if contribution pursuant to this Section 8(d) were determined by pro rata allocation (even if the holders or any 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 in this Section 8(d). The amount paid or payable by an
indemnified party as a result of the losses, claims, damages, liabilities or expenses (or actions in respect thereof) referred to above shall be deemed to include any legal or other fees or expenses reasonably incurred by such indemnified party in
connection with investigating or, except as provided in Section 8(c), defending any such action or claim. 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. The sellers’ obligations in this Section 8(d) to contribute shall be several in proportion to the amount of
securities registered by them and not joint and shall be limited to an amount equal to the net proceeds actually received by such seller from the sale of Registrable Securities effected pursuant to such registration. 

(e)    The indemnification and contribution provided for under this Agreement shall remain in full force and effect
regardless of any investigation made by or on behalf of the indemnified party or any officer, director or controlling Person of such indemnified party and shall survive the transfer of Registrable Securities and the termination or expiration of this
Agreement. 
 9.    Participation in Underwritten Registrations. No Person may participate in any registration
hereunder which is underwritten unless such Person (a) agrees to sell such Person’s securities on the basis provided in any 

  
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underwriting arrangements approved by the Person or Persons entitled hereunder to approve such arrangements (including, without limitation, pursuant to any over-allotment or “green
shoe” option requested by the underwriters; provided that no holder of Registrable Securities shall be required to sell more than the number of Registrable Securities such holder has requested to include) and (b) completes and executes all
questionnaires, powers of attorney, custody agreements, stock powers, indemnities, underwriting agreements and other documents required under the terms of such underwriting arrangements; provided that no holder of Registrable Securities included in
any underwritten registration shall be required to make any representations or warranties to Pubco or the underwriters (other than representations and warranties regarding such holder, such holder’s title to the securities, such Person’s
authority to sell such securities and such holder’s intended method of distribution) or to undertake any indemnification obligations to Pubco or the underwriters with respect thereto that are materially more burdensome than those provided in
Section 8. Each holder of Registrable Securities shall execute and deliver such other agreements as may be reasonably requested by Pubco and the lead managing underwriter(s) that are consistent with such holder’s
obligations under Section 4, Section 5 and this Section 9 or that are necessary to give further effect thereto. To the extent that any such agreement is entered into
pursuant to, and consistent with, Section 4 and this Section 9, the respective rights and obligations created under such agreement shall supersede the respective rights and obligations of the
holders, Pubco and the underwriters created pursuant to this Section 9. 
 10.    Other
Agreements; Certain Limitations on Registration Rights. 
 (a)    Pubco shall file all reports required to be filed
by it under the Securities Act and the Exchange Act and the rules and regulations adopted by the Commission thereunder and shall take such further action as the Holders may reasonably request, all to the extent required to enable such Persons to
sell securities pursuant to (a) Rule 144 adopted by the Commission under the Securities Act (as such rule may be amended from time to time) or any similar rule or regulation hereafter adopted by the Commission or (b) a registration
statement on Form S-3 or any similar registration form hereafter adopted by the Commission. Upon request, Pubco shall deliver to the Holders a written statement as to whether it has complied with such
requirements. Pubco shall at all times use its reasonable best efforts to cause the securities so registered to continue to be listed on one or more of the New York Stock Exchange, the New York Stock Exchange American and the Nasdaq Stock Market.
Pubco shall use its best efforts to facilitate and expedite transfers of Registrable Securities pursuant to Rule 144, which efforts shall include timely notice to its transfer agent to expedite such transfers of Registrable Securities and delivery
of any opinions requested by the transfer agent. 
 (b)    Notwithstanding anything herein to the contrary, Cantor and
Stifel may not exercise their rights under Section 3 hereunder after five (5) and seven (7) years, respectively, after the effective date of the registration statement relating to Haymaker’s initial public
offering. 
 11.    Lock-Up Provisions. 

(a)    Each Holder hereby agrees not to, during the period commencing on the Closing Date (as defined in the BCA) and
through the earlier of (x) the one hundred and eightieth (180th) day anniversary of the Closing Date and (y) the date after the Closing Date on which Pubco consummates a liquidation, merger, share exchange or other similar transaction with
an unaffiliated third party that results in all of the Pubco’s stockholders having the right to exchange their equity holdings in Pubco for cash, securities or other property (“Change in Control Transaction”) (the “Lock-Up Period”): (i) lend, offer, pledge, hypothecate, encumber, donate, assign, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option,
right or warrant to purchase, or otherwise transfer or dispose of any Common Stock (other than (x) any securities convertible or exercisable into Common Stock or (y) any Common Stock issuable upon the conversion or exercise of the
securities described in clause (x)) (the “Restricted Securities”), (ii) enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of the Restricted
Securities, or (iii) publicly disclose the intention to do any of the foregoing (other than the filing of a registration statement with the Commission which contemplates such a transaction), whether any such

  
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transaction described in clauses (i), (ii) or (iii) above is to be settled by delivery of Restricted Securities or other securities, in cash or otherwise (any of the foregoing described in
clauses (i), (ii) or (iii), a “Prohibited Transfer”). The foregoing sentence shall not apply: (a) to the transfer of any or all of the Restricted Securities owned by a Holder by a bona fide gift or charitable contribution;
(b) to the transfer of any or all of the Restricted Securities owned by a Holder by will or intestate succession upon the death of such Holder; (c) to the transfer of any or all of the Restricted Securities owned by a Holder to any
Permitted Transferee; (d) to the transfer of any or all of the Restricted Securities owned by a Holder pursuant to a court order or settlement agreement related to the distribution of assets in connection with the dissolution of marriage or
civil union; (e) to the pledge of the Restricted Securities owned by a Holder to a nationally recognized financial institution to secure a bona fide debt financing and any foreclosure by such financial institution or transfer to such financial
institution in lieu of foreclosure; (f) to the transfer of any or all of the Restricted Securities owned by a Holder to Pubco in connection with the repurchase by Pubco from the undersigned of any Restricted Securities pursuant to a repurchase
right arising upon the termination of the undersigned’s employment or service with Pubco; provided, that such repurchase right is pursuant to contractual agreements with Pubco; (g) to the establishment of a trading plan pursuant to Rule 10b5-1 under the Exchange Act for the transfer of Common Stock; provided, that such plan does not provide for the transfer of Common Stock during the Lock-Up Period; or
(h) with respect to voting rights pursuant to the execution and delivery of a support, voting or similar agreement in connection with a Change in Control Transaction that is approved by Pubco’s board of directors; provided, however, that
in any of cases (a), (b), (c), (d) or (e), it shall be a condition to such transfer that the transferee executes and delivers to Pubco an agreement stating that the transferee is receiving and holding the Restricted Securities subject to the
provisions of this Section 11 applicable to such Holder, and there shall be no further transfer of such Restricted Securities except in accordance with this Section 11; and provided further, that
in any of the of cases (a), (b) or (c) such transfer or distribution shall not involve a disposition for value. Each Holder further agrees to execute such agreements as may be reasonably requested by Pubco that are consistent with the foregoing
or that are necessary to give further effect thereto. For the avoidance of doubt, (i) the provisions of this Section 11(a) shall not apply to shares of Common Stock held by a Holder resulting from purchases in open market transactions
prior to and after the date of this Agreement, (ii) with respect to the GPM Minority Investors (as defined in the BCA) and their Permitted Transferees, the provisions of this Section 11(a) shall only apply to Restricted Securities issued
to such GPM Minority Investor as consideration for the consummation of the transactions contemplated by the GPM EPA (as defined in the BCA), and (iii) with respect to the [MSD Entities] and their Permitted Transferees, the provisions of this
Section 11(a) shall only apply to Common Stock issued to such [MSD Entities] upon conversion of the Company’s Series A convertible preferred stock, par value $0.0001 per share. 

(b)    If any Prohibited Transfer is made or attempted contrary to the provisions of this Agreement, such purported
Prohibited Transfer shall be null and void ab initio, and Pubco shall refuse to recognize any such purported transferee of the Restricted Securities as one of its equity holders for any purpose. In order to enforce this
Section 11(b), Pubco may impose stop-transfer instructions with respect to the Restricted Securities of a Holder (and Permitted Transferees and assigns thereof) until the end of the
Lock-Up Period. 
 (c)    During the
Lock-Up Period, each certificate or book-entry position evidencing any Restricted Securities shall be marked with a legend in substantially the following form, in addition to any other applicable legends: 

“THE SECURITIES REPRESENTED HEREBY ARE SUBJECT TO RESTRICTIONS ON TRANSFER SET FORTH IN A REGISTRATION RIGHTS AND LOCK-UP AGREEMENT, DATED AS OF [●], 2020, BY AND AMONG THE ISSUER OF SUCH SECURITIES AND THE REGISTERED HOLDER OF THE SHARES. A COPY OF SUCH AGREEMENT WILL BE FURNISHED WITHOUT CHARGE BY THE ISSUER TO THE
HOLDER HEREOF UPON WRITTEN REQUEST.” 
 (d)    For the avoidance of doubt, each Holder shall retain all of its
rights as a shareholder of Pubco with respect to the Restricted Securities during the Lock-Up Period, including the right to vote any Restricted 

  
 15 

 
Securities that are entitled to vote. Pubco agrees to (i) instruct its transfer agent to remove the legends in Section 11(c) upon the expiration of the Lock-Up Period and (ii) cause its legal counsel, at Pubco’s expense, to deliver the necessary legal opinions, if any, to the transfer agent in connection with the instruction under subclause (i). 

(e)    The Private Placement Warrants shall be subject to the restrictions on transfer set forth in Section 2.6 of
the Warrant Agreement, dated June 6, 2019, by and between Haymaker and Continental Stock Transfer & Trust Company, as warrant agent (the “Warrant Agreement”). 

12.    Definitions. 

(a)    “Applicable Approving Party” means the holders of a majority of the Registrable Securities
participating in the applicable offering or, if applicable, in the case of a Long-Form Registration or Short-Form Registration effected pursuant to Section 2.3(b) or Section 2.3(c), respectively,
the holders of a majority of the type of Registrable Securities that initiated such Short-Form Registration. 

(b)    “Ares Entities” means the collective reference to the entities listed on Schedule I hereto.

 (c)    “Block Trade” means any non-marketed underwritten
takedown offering taking the form of a bought deal or block sale to a financial institution. 
 (d)    “Business
Day” means any day that is not a Saturday or Sunday or a legal holiday in the state in which Pubco’s chief executive office is located or in New York, NY. 

(e)    “Cantor” means Cantor Fitzgerald & Co. 

(f)    “Commission” means the U.S. Securities and Exchange Commission. 

(g)    “Common Stock” means the Common Stock of Pubco, par value $0.0001 per share. 

(h)     “Exchange Act” means the Securities Exchange Act of 1934, as amended from time to time, or any
successor federal law then in force, together with all rules and regulations promulgated thereunder. 

(i)    “FINRA” means the Financial Industry Regulatory Authority. 

(j)    “Free-Writing Prospectus” means a free-writing prospectus, as defined in Rule 405 of the
Securities Act. 
 (k)    “Permitted Transferee” means: (a) the members of a Holder’s
immediate family (for purposes of this Agreement, “immediate family” shall mean with respect to any natural person, any of the following: such person’s spouse, the siblings of such person and his or her spouse, and the direct
descendants and ascendants (including adopted and step children and parents) of such person and his or her spouses and siblings); (b) any trust for the direct or indirect benefit of a Holder or the immediate family of a Holder; (c) if a Holder
is a trust, to the trustor or beneficiary of such trust or to the estate of a beneficiary of such trust; (d) as a distribution to the direct or indirect: general partners, limited partners, shareholders, members of, or owners of similar equity
interests in a Holder; or (e) to any affiliate of a Holder or any fund, investment vehicle or other entity controlled, managed or advised by a Holder or an affiliate of a Holder. 

(l)     “Person” means an individual, a partnership, a corporation, a limited liability company, an
association, a joint stock company, a trust, a joint venture, an unincorporated organization and a governmental entity or any department, agency or political subdivision thereof. 

  
 16 

 (m)     “Prospectus” means the prospectus included in
any Registration Statement, as supplemented by any and all prospectus supplements and as amended by any and all post-effective amendments and including all material incorporated by reference in such prospectus. 

(n)    “Public Offering” means any sale or distribution by Pubco and/or holders of Registrable Securities
to the public of Common Stock pursuant to an offering registered under the Securities Act. 

(o)    “Register,” “Registered” and “Registration” mean a registration
effected by preparing and filing a Registration Statement or similar document in compliance with the requirements of the Securities Act, and the applicable rules and regulations promulgated thereunder, and such Registration Statement becoming
effective. 
 (p)    “Registrable Securities” means (i) any shares of Common Stock held by the
Holders, (ii) any Founder Shares held by the Holders, (iii) any Private Placement Warrants (or underlying securities) held by the Holders, or (iv) any Common Stock issued or issuable with respect to the securities referred to in the
preceding clauses (i) through (iii) by way of a stock dividend or stock split or in connection with a combination of shares, recapitalization, merger, consolidation or other reorganization. As to any particular Registrable Securities, such
securities shall cease to be Registrable Securities when they have been sold or distributed to the public pursuant to an offering registered under the Securities Act or sold to the public through a broker, dealer or market maker in compliance with
Rule 144 following the Closing Date or repurchased by Pubco or any of its subsidiaries. For purposes of this Agreement, a Person shall be deemed to be a holder of Registrable Securities, and the Registrable Securities shall be deemed to be in
existence, whenever such Person has the right to acquire directly or indirectly such Registrable Securities (upon conversion or exercise in connection with a transfer of securities or otherwise, but disregarding any restrictions or limitations upon
the exercise of such right), whether or not such acquisition has actually been effected, and such Person shall be entitled to exercise the rights of a holder of Registrable Securities hereunder; provided a holder of Registrable Securities may only
request that Registrable Securities in the form of Common Stock and Private Placement Warrants be registered pursuant to this Agreement. 

(q)    “Registration Statement” means any registration statement filed by Pubco with the Commission in
compliance with the Securities Act and the rules and regulations promulgated thereunder for a public offering and sale of Common Stock or Registrable Securities, including the Prospectus included in such registration statement, amendments (including
post-effective amendments) and supplements to such registration statement, and all exhibits to and all material incorporated by reference in such registration statement (other than a registration statement on Form
S-4 or Form S-8, or their successors). 

(r)    “Rule 144”, “Rule 405”, and “Rule 415” mean, in each case, such
rule promulgated under the Securities Act (or any successor provision) by the Commission, as the same shall be amended from time to time, or any successor rule then in force. 

(s)     “Securities Act” means the Securities Act of 1933, as amended from time to time, or any successor
federal law then in force, together with all rules and regulations promulgated thereunder. 
 (t)    “Shelf
Participant” means any holder of Registrable Securities listed as a potential selling stockholder in connection with the Resale Shelf Registration Statement or the Shelf Registration or any such holder that could be added to such Resale
Shelf Registration Statement or Shelf Registration without the need for a post-effective amendment thereto or added by means of an automatic post-effective amendment thereto. 

(u)    “Stifel” means Stifel, Nicolaus & Company Incorporated. 

(v)    “WKSI” means a “well-known seasoned issuer” as defined under Rule 405. 

  
 17 

 13.    Miscellaneous. 

(a)    No Inconsistent Agreements. Pubco shall not hereafter enter into any agreement with respect to its
securities which is inconsistent with or violates or in any way impairs the rights granted to the Holders in this Agreement. 

(b)    Entire Agreement. This Agreement, the Warrant Agreement (to the extent applicable to holders of Private
Placement Warrants), and, with respect to the [MSD Entities], Section 5 of that certain Subscription Agreement, dated as of November [    ], 2020, by and between the Company and the [MSD Entities] listed on the signature
pages attached thereto, constitute the entire agreement of the parties hereto with respect to the subject matter hereof and supersedes all prior agreements, understandings, negotiations and discussions among the parties hereto, written or oral, with
respect to the subject matter hereof, including without limitation the Original Agreements. 
 (c)    Remedies.
Any Person having rights under any provision of this Agreement shall be entitled to enforce such rights specifically (without posting a bond or other security), to recover damages caused by reason of any breach of any provision of this Agreement and
to exercise all other rights granted by law. The parties hereto agree and acknowledge that money damages would not be an adequate remedy for any breach of the provisions of this Agreement and that, in addition to any other rights and remedies
existing in its favor, any party shall be entitled to specific performance and/or other injunctive relief from any court of law or equity of competent jurisdiction (without posting any bond or other security) in order to enforce or prevent violation
of the provisions of this Agreement. 
 (d)    Other Registration Rights. Pubco represents and warrants that no
person, other than a Holder of Registrable Securities pursuant to this Agreement, has any right to require Pubco to register any securities of Pubco for sale or to include such securities of Pubco in any Registration Statement filed by Pubco for the
sale of securities for its own account or for the account of any other person. Further, Pubco represents and warrants that this Agreement supersedes any other registration rights agreement or agreement with similar terms and conditions and in the
event of a conflict between any such agreement or agreements and this Agreement, the terms of this Agreement shall prevail. 

(e)    Termination of Other Agreements. Upon the closing of the transactions contemplated by the BCA, the Original
Agreements shall terminate and no longer have any force or effect. 
 (f)    Amendments and Waivers. Except as
otherwise provided herein, the provisions of this Agreement may be amended or waived only with the prior written consent of Pubco and each holder that holds at least 3% of the Registrable Securities at such date as any such amendment or waiver is
requested; provided, however, that notwithstanding the foregoing, any amendment hereto or waiver hereof that adversely affects one Holder, solely in its capacity as a holder of the shares of capital stock of Pubco, in a manner that is materially
different from the other Holders (in such capacity) shall require the consent of the Holder so affected. Any amendment or waiver effected in accordance with this Section 13(f) shall be binding upon each Holder and Pubco.
The failure of any party to enforce any of the provisions of this Agreement shall in no way be construed as a waiver of such provisions and shall not affect the right of such party thereafter to enforce each and every provision of this Agreement in
accordance with its terms. 
 (g)    Successors and Assigns; No Third-Party Beneficiaries. This Agreement and the
rights, duties and obligations of Pubco hereunder may not be assigned or delegated by Pubco in whole or in part. A Holder may assign or delegate such Holder’s rights, duties or obligations under this Agreement, in whole or in part, to
(a) a Permitted Transferee of such Holder, (b) direct and/or indirect equity holders of the Sponsor or (c) any person with the prior written consent of Pubco. This Agreement and the provisions hereof shall be binding upon and shall
inure to the benefit of each of the parties and its successors and the permitted assigns of the Holders. This Agreement shall not confer any rights or benefits on any persons that are not parties hereto, other than as

  
 18 

 
expressly set forth in this Agreement. No assignment by any party hereto of such party’s rights, duties and obligations hereunder shall be binding upon or obligate Pubco unless and until
Pubco shall have received (i) written notice of such assignment as provided in this Section 13(g) and (ii) the written agreement of the assignee, in the form attached hereto as Exhibit A, to be bound by the
terms and provisions of this Agreement. Any transfer or assignment made other than as provided in this Section 13(g) shall be null and void. 

(h)    All covenants and agreements in this Agreement by or on behalf of any of the parties hereto shall bind and inure to
the benefit of the respective successors and assigns of the parties hereto whether so expressed or not. In addition, whether or not any express assignment has been made, the provisions of this Agreement which are for the benefit of purchasers or
holders of Registrable Securities are also for the benefit of, and enforceable by, any subsequent holder of Registrable Securities. 

(i)    Severability. Whenever possible, each provision of this Agreement shall be interpreted in such manner as to
be effective and valid under applicable law, but if any provision of this Agreement is held to be prohibited by or invalid, illegal or unenforceable in any respect under any applicable law, such provision shall be ineffective only to the extent of
such prohibition, invalidity, illegality or unenforceability, without invalidating the remainder of this Agreement. 

(j)    Counterparts. This Agreement may be executed simultaneously in counterparts, any one of which need not
contain the signatures of more than one party, but all such counterparts taken together shall constitute one and the same Agreement. Counterparts may be delivered via facsimile, electronic mail (including any electronic signature covered by the U.S.
federal ESIGN Act of 2000, Uniform Electronic Transactions Act, the Electronic Signatures and Records Act or other applicable law, e.g., www.docusign.com) or other transmission method and any counterpart so delivered shall be deemed to have been
duly and validly delivered and be valid and effective for all purposes. 
 (k)    Descriptive Headings;
Interpretation. The descriptive headings of this Agreement are inserted for convenience only and do not constitute a part of this Agreement. The use of the word “including” herein shall mean “including without limitation.”

 (l)    Governing Law; Jurisdiction. All issues and questions concerning the construction, validity,
enforcement and interpretation of this Agreement and the exhibits and schedules hereto shall be governed by, and construed in accordance with, the laws of the State of Delaware, without giving effect to any choice of law or conflict of law rules or
provisions (whether of the State of Delaware or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of Delaware. The parties hereto agree that any suit, action or proceeding seeking to
enforce any provision of, or based on any matter arising out of or in connection with, this Agreement or the transactions contemplated hereby shall be brought in any Delaware Chancery Court, or if such court does not have subject matter
jurisdiction, any court of the United States located in the State of Delaware. Each of the parties hereby irrevocably consents to the jurisdiction of such courts (and of the appropriate appellate courts therefrom) in any such suit, action or
proceeding and irrevocably waives, to the fullest extent permitted by law, any objection that it may now or hereafter have to the laying of the venue of any such suit, action or proceeding in any such court or that any such suit, action or
proceeding brought in any such court has been brought in an inconvenient forum. Process in any such suit, action or proceeding may be served on any party anywhere in the world, whether within or without the jurisdiction of any such court. 

  
 19 

 (m)    Notices. All notices, demands or other communications to
be given or delivered under or by reason of the provisions of this Agreement shall be in writing and shall be given (and shall be deemed to have been duly given upon receipt) by delivery in person, by telecopy or email or by registered or certified
mail (postage prepaid, return receipt requested) to each Holder at the address indicated on the Schedule of Holders attached hereto and to Pubco at the address indicated below (or at such other address for a party as shall be specified in a notice
given in accordance with this Section 13(m)): 
 if to Pubco: 

ARKO Corp. 
 8565 Magellan Pkwy
Suite 400 
 Richmond, VA 23227 

Attention: Maury Bricks, Esq. 

Email: mbricks@gpminvestments.com 

with a copy to: 
 ARKO Holdings
Ltd. 
 3 Hanechushet Street, Building B, 3rd Floor 

Tel Aviv 6971068, Israel 

Attention: Irit Aviram, Adv. 

Email: irita@arko-holdings.com 

with a copy to: 
 Greenberg
Traurig, P.A. 
 333 SE 2nd Ave., Suite 4400 

Miami, FL 33131 
 Attention: Alan
I. Annex, Esq. 
 Email: annexa@gtlaw.com 

(n)    Mutual Waiver of Jury Trial. As a specifically bargained inducement for each of the parties to enter into
this Agreement (with each party having had opportunity to consult counsel), each party hereto expressly and irrevocably waives the right to trial by jury in any lawsuit or legal proceeding relating to or arising in any way from this Agreement or the
transactions contemplated herein, and any lawsuit or legal proceeding relating to or arising in any way to this Agreement or the transactions contemplated herein shall be tried in a court of competent jurisdiction by a judge sitting without a jury.

 (o)    No Strict Construction. The parties hereto have participated jointly in the negotiation and drafting of
this Agreement. In the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the parties hereto, and no presumption or burden of proof shall arise favoring or disfavoring any
party by virtue of the authorship of any of the provisions of this Agreement. 
 * * * * * 

[Signature pages follow] 

  
 20 

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

			
	 ARKO Corp.

		
	 By:
	 	  

		 	 Name:

		 	 Title:

 

			
	 HAYMAKER SPONSOR II LLC

		
	 By:
	 	  

		 	 Name:

		 	 Title:

 

	
	 ANDREW R. HEYER

	  

	
	 STEVEN J. HEYER

	
	  

	
	 CHRISTOPHER BRADLEY

	
	  

	
	 JOSEPH M. TONNOS 

	
	  

	
	 WALTER F. MCLALLEN 

	
	  

	
	 MICHAEL J. DOLAN 

	
	  

	
	 STEPHEN W. POWELL 

	
	  

 

			
	 CANTOR FITZGERALD & CO.

		
	 By:
	 	  

		 	 Name:

		 	 Title:

  
 21 

 
			
	STIFEL, NICOLAUS & COMPANY, INCORPORATED
		
	 By:
	 	  

		 	 Name:

		 	 Title:

 

	
	 ARIE KOTLER

	
	  

 

			
	 VILNA HOLDINGS

		
	 By:
	 	  

		 	 Name:

		 	 Title:

 

	
	 MORRIS WILLNER

	
	  

 

			
	 GPM INVESTMENTS, LLC

		
	 By:
	 	  

		 	 Name:

		 	 Title:

		
	 By:
	 	  

		 	 Name:

		 	 Title:

  

			
	 [GPM OWNER LLC]

		
	 By:
	 	  

		 	 Name:

		 	 Title:

 

	
	 [GPM HP SCF INVESTOR, LLC

 
 By:  GPM HP SCF MEMBER, LLC

Its Sole Member
  

By:  Harvest Partners Structured Capital Fund, L.P.

Its Managing Member
  

By:  Harvest Associates SCF, L.P.,
 Its
General Partner

  

			
	 By:
	 	  

		 	 Name:

		 	 Title:

  
 22 

 
			
	 [ARCC BLOCKER II LLC]

		
	 By:
	 	  

		 	 Name:

		 	 Title:

 

			
	 CADC Blocker Corp.

		
	 By:
	 	  

		 	 Name:

		 	 Title:

 

			
	 ARES CENTRE STREET PARTNERSHIP, L.P.

 
 By: Ares Centre Street GP, Inc., as general
partner

		
	 By:
	 	  

		 	 Name:

		 	 Title:

  

			
	ARES PRIVATE CREDIT SOLUTIONS, L.P.
	
	By: Ares Capital Management LLC, its investment manager
		
	By:	 	  

		 	Name:
		 	Title:

  

			
	ARES PCS HOLDINGS INC.
	
	By: Ares Capital Management LLC, its investment manager
		
	By:	 	  

		 	Name:
		 	Title:

  

			
	ARES ND CREDIT STRATEGIES FUND LLC
	
	By: Ares Capital Management LLC, its account manager
		
	By:	 	  

		 	Name:
		 	Title:

  
 23 

 
			
	ARES CREDIT STRATEGIES INSURANCE DEDICATED FUND SERIES INTERESTS OF SALI MULTI-SERIES FUND, L.P.
	
	By: Ares Management LLC, its investment subadvisor
	
	By: Ares Capital Management LLC, as subadvisor
		
	By:	 	  

		 	Name:
		 	Title:

  

			
	ARES SDL BLOCKER HOLDINGS LLC
		
	By:	 	  

		 	Name:
		 	Title:

  

			
	ARES SFERS CREDIT STRATEGIES FUND LLC
	
	By: Ares Capital Management LLC, its investment manager
		
	By:	 	  

		 	Name:
		 	Title:

  

			
	ARES DIRECT FINANCE I LP
	
	By: Ares Capital Management LLC, its investment manager
		
	By:	 	  

		 	Name:
		 	Title:

  

			
	ARES CAPITAL CORPORATION
		
	By:	 	  

		 	Name:
		 	Title:

  

			
	[MSD ENTITIES]
		
	By:	 	  

		 	Name:
		 	Title:

  
 24 

 SCHEDULE A 

SCHEDULE OF HOLDERS 
  

	
	 Name and Address

	
	 HAYMAKER SPONSOR II LLC
 [Address]

	
	 ANDREW R. HEYER
 [Address]

	
	 STEVEN J. HEYER
 [Address]

	
	 CHRISTOPHER BRADLEY
 [Address]

	
	 JOSEPH M. TONNOS 
 [Address]

	
	 WALTER F. MCLALLEN 
 [Address]

	
	 MICHAEL J. DOLAN 
 [Address]

	
	 STEPHEN W. POWELL 
 [Address]

	
	 CANTOR FITZGERALD & CO.

[Address]

	
	 STIFEL, NICOLAUS & COMPANY, INCORPORATED

[Address]

	
	 ARIE KOTLER 
 [Address]

	
	 VILNA HOLDINGS 
 [Address]

	
	 MORRIS WILLNER 
 [Address]

	
	 GPM INVESTMENTS, LLC
 [Address]

	
	 [GPM OWNER LLC]
 [Address]

	
	 [GPM HP SCF INVESTOR, LLC]

[Address]

	
	 [ARCC BLOCKER II LLC]
 [Address]

	
	 CADC Blocker Corp.
 [Address]

	
	 ARES CENTRE STREET PARTNERSHIP, L.P.

[Address]

  
 25 

	
	 Name and Address

	
	 ARES PRIVATE CREDIT SOLUTIONS, L.P.

[Address]

	
	 ARES PCS HOLDINGS INC.
 [Address]

	
	 ARES ND CREDIT STRATEGIES FUND LLC

[Address]

	
	 ARES CREDIT STRATEGIES INSURANCE DEDICATED FUND SERIES INTERESTS OF SALI MULTI-SERIES FUND, L.P.

[Address]

	
	 ARES SDL BLOCKER HOLDINGS LLC

[Address]

	
	 ARES SFERS CREDIT STRATEGIES FUND LLC

[Address]

	
	 ARES DIRECT FINANCE I LP

[Address]

	
	 ARES CAPITAL CORPORATION

[Address]

	
	 [MSD ENTITIES]
 [Address]

  
 26 

 EXHIBIT A 

REGISTRATION RIGHTS AND LOCK-UP AGREEMENT JOINDER 

The undersigned is executing and delivering this Registration Rights and Lock-Up Agreement Joinder
(this “Joinder”) pursuant to the Registration Rights and Lock-Up Agreement dated as of (as the same may hereafter be amended, the “Registration Rights and
Lock-Up Agreement”), among [[●], a Delaware corporation], and the other persons named as parties therein. 

By executing and delivering this Joinder, the undersigned hereby agrees to become a party to, to be bound by, and to comply with the
provisions of the Registration Rights and Lock-Up Agreement as a holder of Registrable Securities in the same manner as if the undersigned were an original signatory to the Registration Rights and Lock-Up Agreement. 
 Accordingly, the undersigned has executed and delivered this Joinder as of the
         day of                 , 20    . 

 

			
	HOLDER:
	
	[●]
		
	By:	 	  

	Its:

  

			
	Address for Notices:
		
	[●]	 	
	[●]	 	
	[●]	 	
	[●]	 	
	
	Agreed and Accepted as of

  

			
	[●]
		
	By:	 	  

	Its:

  
 27 

 Schedule I 

Ares Entities 
  

	1.	 Ares Capital Corporation 

 

	2.	 ARCC Blocker II LLC 

  

	3.	 CADC Blocker Corp. 

  

	4.	 Ares Centre Street Partnership, L.P. 

 

	5.	 Ares Private Credit Solutions, L.P. 

 

	6.	 Ares PCS Holdings Inc. 

 

	7.	 Ares ND Credit Strategies Fund LLC 

 

	8.	 Ares Credit Strategies Insurance Dedicated Fund Series Interests of SALI Multi-Series Fund, L.P.

  

	9.	 Ares SDL Blocker Holdings LLC 

 

	10.	 Ares SFERS Credit Strategies Fund LLC 

 

	11.	 Ares Direct Finance I LP 

  
 28EX-10.1

 Exhibit 10.1 

ARKO CORP. 

SUBSCRIPTION AGREEMENT 

This SUBSCRIPTION AGREEMENT (this “Subscription Agreement”) is entered into November 18, 2020, by and between ARKO
Corp., a Delaware corporation (the “Company”), and the undersigned (each a “Subscriber” and together the “Subscribers”). 

WHEREAS, the Company entered into that certain business combination agreement, dated as of September 8, 2020 (as it may be amended,
supplemented or otherwise modified from time to time in accordance with the terms thereof and of this Subscription Agreement, the “Transaction Agreement”), pursuant to which, among other things, the Company, Haymaker Acquisition
Corp. II, a Delaware corporation (“Haymaker”), ARKO Holdings Ltd., a company organized under the laws of the State of Israel (“Arko Holdings”), and certain other parties thereto will enter into a business
combination (the “Transaction”); and 
 WHEREAS, in connection with the Transaction, the Subscribers desire to subscribe
for and purchase from the Company, and the Company desires to issue and sell to the Subscribers (i) an aggregate of 700,000 shares (the “Firm Shares”) of the Company’s Series A convertible preferred stock, par value
$0.0001 per share (“Preferred Shares”), with the terms set forth in the form of amended and restated certificate of incorporation of the Company attached as Exhibit A hereto (as amended, restated, and/or otherwise modified in
accordance with its terms, the “Charter”), and (ii) up to an aggregate of an additional 300,000 Preferred Shares if and to the extent that the Company exercises the right granted to it in Section 1 of
this Subscription Agreement (the “Additional Shares” and together with the Firm Shares, the “Acquired Securities”), in each case for a purchase price of $100 per share (the “Purchase Price”). 

NOW, THEREFORE, in consideration of the foregoing and the mutual representations, warranties and covenants, and subject to the conditions,
herein contained, and intending to be legally bound hereby, the parties hereto hereby agree as follows: 

1.    Subscription. Pursuant to the terms and subject to the conditions set forth herein, each Subscriber hereby
agrees to irrevocably subscribe for and purchase, and the Company hereby agrees to irrevocably issue and sell to such Subscriber, upon the payment of the Purchase Price, the Firm Shares set forth opposite such Subscriber’s name on Schedule
A attached hereto. The time and date of such payment are hereinafter referred to as the “Closing Date.” 
 Moreover,
each Subscriber hereby agrees to irrevocably subscribe for and purchase up to the total number of Additional Shares at the Purchase Price, set forth opposite such Subscriber’s name on Schedule A attached hereto, and the Company shall
have the right (but not the obligation) to sell up to the total number of Additional Shares at the Purchase Price. The Company may exercise this right once, in whole or in part, by giving an irrevocable written notice (the “Option Exercise
Notice”) to each Subscriber; provided, that such Option Exercise Notice shall be delivered no later than 20 days following the Closing Date. The Option Exercise Notice shall specify the aggregate number of Additional Shares to be
purchased (at a price per share equal to the Purchase Price), which number shall not exceed an aggregate of 300,000 Preferred Shares. If the number of Additional Shares to be purchased on the Option Closing Date (as defined below) as set forth in
the Option Exercise Notice is less than 300,000 Preferred Shares, the Subscribers, in their sole and absolute discretion, shall be entitled to allocate the Additional Shares to be purchased among the Subscribers; provided, that if such
alternate allocations are not delivered to the Company at least one business day prior to the Option Closing Date, such allocations shall be made pro rata based on the aggregate Purchase Price set forth opposite each Subscriber’s name on
Schedule A attached hereto. Each Subscriber and the Company shall have up to ten calendar days from the date of such notice to complete such purchase and sale and such purchase and sale date may not be earlier than the Closing Date. Such day,
if any, that Additional Shares are to be purchased is referred to herein as the “Option Closing Date.” 

  
 1 

 2.    Closing. 

a.    The closing of the subscription for the Firm Shares and the Additional Shares, to the extent that the closing of the
subscription for any Additional Shares occurs concurrently with the Firm Shares, contemplated hereby (the “Initial Closing”) is contingent upon the substantially concurrent consummation of the Transaction and shall occur immediately
prior thereto, but in any event on the same date. Not less than five (5) business days prior to the scheduled closing date of the Transaction (the “Scheduled Closing Date”), the Company shall provide written notice to each
Subscriber (the “Closing Notice”) specifying (i) that the Company reasonably expects all conditions to the closing of the Transaction to be satisfied on a date that is not less than five (5) business days from the date of
the Closing Notice and (ii) instructions for wiring the Purchase Price for the Acquired Securities to be issued and sold on such date. At the Initial Closing, each Subscriber shall deliver to the Company its Purchase Price for the Acquired
Securities to be issued and sold on the Closing Date, by wire transfer of United States dollars in immediately available funds to the account specified in writing by the Company in the Closing Notice and the Company shall deliver the Acquired
Securities to be issued and sold on such date to each Subscriber in book entry form. The failure of the Initial Closing to occur on the Scheduled Closing Date shall not terminate this Subscription Agreement or otherwise relieve any party of any of
its obligations hereunder and such obligations shall remain in full force and effect until such time as the Initial Closing can occur; provided however, that for the avoidance of doubt, the failure of the Initial Closing to occur for
the reasons set forth in Section 6(c) of this Subscription Agreement shall terminate this Subscription Agreement in accordance with Section 6. At the closing of the subscription for any Additional
Shares, to the extent that such closing occurs after the Closing Date (such closing and the Initial Closing are each referred to as a “Closing”), each Subscriber shall deliver to the Company their respective Purchase Price for the
Acquired Securities to be issued and sold on the Option Closing Date, and the Company shall deliver the Acquired Securities to be issued and sold in connection with such Closing to each Subscriber in book entry form. 

b.    Each Closing shall be subject to the following conditions: 

(i)    all representations and warranties of the Company and each Subscriber contained in this Subscription Agreement
shall be true and correct in all material respects or, to the extent representations or warranties are qualified by materiality or Material Adverse Effect (as defined herein), in all respects as of the Closing, and consummation of the Closing shall
constitute a reaffirmation by each of the Company and each Subscriber of each of the representations, warranties and agreements of each such party contained in this Subscription Agreement as of the Closing; and all obligations, covenants and
agreements of the Company required to be performed by it under this Subscription Agreement at or prior to the Closing Date shall have been performed in all material respects. The Company shall have delivered to the Subscribers, a certificate of the
Chief Executive Officer of the Company, dated as of the applicable Closing Date, certifying to the fulfillment of the conditions specified in this Section 2(b)(i); 

(ii)    the Company’s shall not have issued, or contracted to issue, any (i) shares of common stock of the
Company, par value $0.0001 per share (the “Common Stock”), at a price per share less than $10.00 to the Company or (ii) other equity security that ranks pari passu with, or senior to, the Preferred Shares, other than the
shares of Common Stock issued under this Subscription Agreement and the Transaction Agreement; 
 (iii)    with respect
to the Initial Closing only, the Total Leverage Ratio (as defined in that certain Credit Agreement, dated as of February 28, 2020, by and among GPM Investments, LLC, the lenders party thereto, the guarantors party thereto, and Ares Capital
Corporation (as amended as of the date hereof)) as of the Initial Closing shall not be greater than 7.00:1.00; 

(iv)    the Underlying Common (as defined herein) shall have been approved for listing on the Nasdaq Capital Market
(“Nasdaq”), subject only to official notice of issuance thereof; 
 (v)    the shares of Common Stock
(I) shall be designated for quotation or listed on Nasdaq and (II) shall not have been suspended, as of the applicable Closing Date, by the United States Securities and 

  
 2 

 
Exchange Commission (the “SEC”) or Nasdaq from trading on Nasdaq nor shall suspension by the SEC or Nasdaq have been threatened, as of the Closing Date, either (A) in
writing by the SEC or Nasdaq or (B) by falling below the minimum listing maintenance requirements of Nasdaq; 

(vi)    the Charter shall have been filed with the Secretary of State of the State of Delaware and shall be in full force
and effect, enforceable against the Company in accordance with its terms and shall not have been amended except as permitted therein; 

(vii)    the Company shall have duly executed and delivered to such Subscriber the Registration Rights Agreement (as
defined herein); 
 (viii)    no governmental authority shall have enacted, issued, promulgated, enforced or entered
any judgment, order, law, rule or regulation (whether temporary, preliminary or permanent) which is then in effect and has the effect of making consummation of the transactions contemplated hereby illegal or otherwise restricting, prohibiting or
enjoining consummation of the transactions contemplated hereby; 
 (ix)    with respect to the Initial Closing only,
the applicable conditions to closing under ARTICLE VII of the Transaction Agreement shall have been satisfied (as determined by the parties to the Transaction Agreement) or waived by the applicable parties to the Transaction Agreement (provided that
the condition set forth in Section 7.03(h) of the Transaction Agreement shall be satisfied, without giving effect to any amendment, modification or waiver thereto or to any related definition, from and after the date hereof, unless such waiver,
modification or amendment has been consented to in advance in writing by Subscribers investing at least a majority of the aggregate Purchase Price under this Subscription Agreement), in each case prior to the Closing Date (other than those
conditions that by their nature are to be satisfied at the closing under the Transaction Agreement; provided that such conditions are capable of being satisfied at such closing or are waived at or prior to such closing and the closing of the
Transaction shall occur, in accordance with the terms of the Transaction Agreement, on the Closing Date, substantially concurrently with the Initial Closing); 

(x)    the Transaction Agreement and any provisions therein shall not have been further waived, modified or amended after
the date hereof in any respect that is materially adverse to the Subscribers unless such further waiver, modification or amendment has been consented to by the prior written consent of Subscribers investing at least a majority of the aggregate
Purchase Price under this Subscription Agreement; and 
 (xi)    the aggregate Merger Consideration (as defined in the
Transaction Agreement) payable by the Company in cash to holders of ordinary shares, par value 0.01 New Israeli Shekel per share, of Arko Holdings shall not exceed $100,045,000. 

c.    At each Closing, the Company shall pay to each Subscriber a fee equal to 3% of the Purchase Price for the Acquired
Securities to be issued and sold to such Subscriber at such Closing. Such Subscriber may deduct such fee from the amount payable by it at such Closing, and the Company will treat such amount as a payment for the Acquired Securities at such Closing.

 d.    At the Closing, the parties hereto shall execute and deliver such additional documents and take such additional
actions as the parties reasonably may deem to be reasonably necessary in order to consummate the transactions as contemplated by this Subscription Agreement; provided, that no Subscriber shall be required to (i) execute any document
requiring it to guarantee or otherwise make any payment, (ii) execute any document containing any restrictive covenants or other on-going obligation or (iii) become licensed for any reason in any
jurisdiction in connection with its ownership of the Acquired Securities or the Underlying Common. 
 e.    For purposes
of this Subscription Agreement, “business day” shall mean any day other than (i) any Saturday or Sunday or (ii) any other day on which banks located in New York, New York are required or authorized by applicable law to be
closed for business. 

  
 3 

 3.    Company Representations and Warranties. The Company
represents and warrants to each Subscriber that, as of the date hereof and as of the Closing and on the Option Closing Date, if any: 

a.    The Company has been duly incorporated and is validly existing as a corporation in good standing under the laws of
the State of Delaware, with corporate power and authority to own, lease and operate its properties and conduct its business as presently conducted and to enter into, deliver and perform its obligations under this Subscription Agreement. 

b.    The Acquired Securities and the shares of Common Stock, into which the Acquired Securities may be converted (the
“Underlying Common”) will be, prior to the issuance and delivery to each Subscriber against full payment thereof in accordance with the terms of this Subscription Agreement or upon conversion of the Acquired Securities pursuant to
the Charter, respectively, duly authorized and, when issued and delivered to each Subscriber against full payment therefor in accordance with the terms of this Subscription Agreement or upon conversion of the Acquired Securities pursuant to the
Charter, the Acquired Securities and the Underlying Common, respectively, will be validly issued, fully paid and non-assessable, free of any liens and will not have been issued in violation of or subject to
any preemptive or similar rights created under the Charter or the Company’s bylaws or under the Delaware General Corporation Law. 

c.    This Subscription Agreement has been duly authorized, executed and delivered by the Company, constitutes the valid
and binding agreements of the Company and is enforceable against it in accordance with its terms, except as may be limited or otherwise affected by (i) bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium or other laws
relating to or affecting the rights of creditors generally, and (ii) principles of equity, whether considered at law or equity. The Underlying Common have been duly reserved for such issuance. 

d.    The execution, delivery and performance of this Subscription Agreement and the Charter (including the issuance and
sale of the Acquired Securities contemplated hereby, the issuance of the Underlying Common upon conversion of the Acquired Securities pursuant to the Charter, and the compliance by the Company with all of the provisions of this Subscription
Agreement applicable to it and the consummation of the transactions contemplated hereby) will not (i) conflict with or result in a breach or violation of any of the terms or provisions of, or constitute a default under, or result in the
creation or imposition of any lien, charge or encumbrance upon any of the property or assets of the Company or any of its subsidiaries pursuant to the terms of any indenture, mortgage, deed of trust, loan agreement, lease, license or other agreement
or instrument to which the Company or any of its subsidiaries is a party or by which the Company or any of its subsidiaries is bound or to which any of the property or assets of the Company or any of its subsidiaries is subject, which would
reasonably be expected to have a material adverse effect on the business, properties, financial condition, stockholders’ equity or results of operations of the Company and its subsidiaries, individually and taken as a whole or materially affect
the validity of the Acquired Securities, the Underlying Common or the legal authority of the Company to comply in all material respects with the terms of this Subscription Agreement or the Charter and consummate the transaction contemplated hereby
and thereby (a “Material Adverse Effect”), (ii) result in any violation of the provisions of the organizational documents of the Company or any of its subsidiaries, or (iii) result in any violation of any statute or any
judgment, order, rule or regulation of any court or governmental agency or body, domestic or foreign, having jurisdiction over the Company or any of its subsidiaries or any of their respective properties that would reasonably be expected to have a
Material Adverse Effect. 
 e.    The Company is not required to obtain any consent, waiver, authorization or order of,
give any notice to, or make any filing or registration with, any court or other federal, state, local or other governmental authority, self-regulatory organization or other person in connection with the execution, delivery and performance of this
Subscription Agreement and the Charter (including, without limitation, the issuance of the Acquired Securities), other than (i) filings with the SEC, (ii) filings required by applicable state securities laws, (iii) filings required by
Nasdaq, (iv) consents, waivers, authorizations or filings that have been obtained or made on or prior to the Closing, and (v) where the failure of which to obtain would not be reasonably likely to have a Material Adverse Effect. 

  
 4 

 f.    The Company has not received any written communication from a
governmental entity that alleges that the Company is not in compliance with or is in default or violation of any applicable law, except where such non-compliance, default or violation would not be reasonably
likely to have, individually or in the aggregate, a Material Adverse Effect. 
 g.    Assuming the accuracy of each
Subscriber’s representations and warranties set forth in Section 4 of this Subscription Agreement, no registration under the Securities Act of 1933, as amended (the “Securities Act”) is required for
the offer and sale of the Acquired Securities and the issuance and delivery of the Underlying Common in accordance with the Charter by the Company to each Subscriber. 

h.    There are no pending or, to the knowledge of the Company, threatened, actions, which, if determined adversely,
would, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. There is no unsatisfied judgment or any open injunction binding upon the Company which would, individually or in the aggregate, reasonably be expected
to have a Material Adverse Effect. 
 i.    Neither the Company nor any person acting on its behalf has engaged or will
engage in any form of general solicitation or general advertising (within the meaning of Regulation D of the Securities Act) in connection with any offer or sale of the Acquired Securities and the Underlying Common. 

j.    As of their respective dates, all filings (the “SEC Documents”) filed by the Company with the SEC
complied in all material respects with the applicable requirements of the Securities Act and the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and the rules and regulations of the SEC promulgated thereunder, and
none of the SEC Documents, when filed (or, if amended, as of the date of such amendment), contained any untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary in order to make the
statements therein, in the light of the circumstances under which they were made, not misleading. The financial statements of the Company included in the SEC Documents comply in all material respects with applicable accounting requirements and the
rules and regulations of the SEC with respect thereto as in effect at the time of filing and fairly present in all material respects the financial position of the Company as of and for the dates thereof and the results of operations and cash flows
for the periods then ended, subject, in the case of unaudited financial statements, to normal, year-end audit adjustments. A copy of each SEC Document is available to each Subscriber via the SEC’s EDGAR
system. To the knowledge of the Company, there are no material outstanding or unresolved comments in comment letters from the staff of the Division of Corporation Finance of the SEC with respect to any of the SEC Documents as of the date hereof.

 k.    Except for Raymond James & Associates, Inc., Stifel, Nicolaus & Company, Incorporated and
Nomura Securities International, Inc. (in their individual and representative capacities as placement agents with respect to the issuance and sale of the Acquired Securities pursuant to this Subscription Agreement, the “Placement
Agents”), the fees and expenses of which will be paid by the Company, neither the Company nor its subsidiaries or any of their respective officers, directors, employees or agents has employed any broker or finder or incurred any liability
for any financial advisory fees, brokerage fees, commissions or finder’s fees, and no broker or finder has acted directly or indirectly for the Company in connection with this Subscription Agreement or the subscriptions contemplated hereby.

 l.    As of the date of this Subscription Agreement, other than the Transaction Agreement and any other agreement
expressly contemplated by the Transaction Agreement or described in the SEC Documents, the Company has not entered into any side letter or similar agreement with any investor in connection with such investor’s direct or indirect investment in
the Company or with any other investor. 
 m.    As of the date of this Subscription Agreement, the authorized capital
stock of the Company consists of 1,000 shares of Common Stock and (ii) no shares of preferred stock. As of the date of this Subscription Agreement, (A) 1 share of Common Stock is issued and outstanding, (B) no warrants to purchase shares
of Common Stock are issued and outstanding, and (C) no shares of preferred stock are issued and 

  
 5 

 
outstanding. All (1) issued and outstanding shares of Common Stock have been duly authorized and validly issued, are fully paid and
are non-assessable and (2) outstanding warrants, if any, have been duly authorized and validly issued. Except as set forth above and pursuant to the Transaction Agreement and the other
agreements and arrangements referred to therein or in the SEC Documents, as of the date hereof, there are no outstanding options, warrants or other rights to subscribe for, purchase or acquire from the Company any shares of Common Stock or other
equity interests in the Company, or securities convertible into or exchangeable or exercisable for such equity interests. As of the date hereof, the Company has no subsidiaries and does not own, directly or indirectly, interests or investments
(whether equity or debt) in any person, whether incorporated or unincorporated. There are no shareholder agreements, voting trusts or other agreements or understandings to which the Company is a party or by which it is bound relating to the voting
of any securities of the Company, other than (1) as set forth in the SEC Documents and (2) as contemplated by the Transaction Agreement. 

n.    Upon the closing of the Transaction, the issued and outstanding Common Stock of the Company will be registered
pursuant to Section 12(b) of the Exchange Act, and will be listed for trading on Nasdaq. There is no suit, action, proceeding or investigation pending or, to the knowledge of the Company, threatened against the Company by Nasdaq or the SEC with
respect to any intention by such entity to deregister the Common Stock or prohibit or terminate the listing of the Common Stock on Nasdaq. The Company has taken no action that is designed to prevent the registration of the Common Stock under the
Exchange Act. 
 o.    The Company and its Board of Directors have taken all necessary action, if any, in order to
render inapplicable any control share acquisition, interested shareholder, business combination, poison pill (including, without limitation, any distribution under a rights agreement) or other similar anti-takeover provision under the Charter,
bylaws or other organizational documents or the laws of the jurisdiction of its formation which is or could become applicable to any Subscriber as a result of the transactions contemplated by this Subscription Agreement, including, without
limitation, the Company’s issuance of the Acquired Securities and/or Underlying Common and any Subscriber’s ownership of the Acquired Securities and/or Underlying Common. The Company and its Board of Directors have taken all necessary
action, if any, in order to render inapplicable any shareholder rights plan or similar arrangement relating to accumulations of beneficial ownership of Common Stock or a change in control of the Company or any of its subsidiaries. 

p.    As of the applicable Closing, none of the information provided to Subscriber by the Company, Haymaker, Arko
Holdings, any of their respective subsidiaries or any of their respective officers, directors, or employees in connection with the transactions contemplated hereunder will constitute material nonpublic information of the Company. 

4.    Subscriber Representations and Warranties. Each Subscriber represents and warrants to the Company and the
Placement Agents that, as of the date hereof and as of the Closing and on the Option Closing Date, if any: 
 a.    Such
Subscriber is (i) a “qualified institutional buyer” (as defined in Rule 144A under the Securities Act) or (ii) an institutional “accredited investor” (within the meaning of Rule 501(a) under the Securities Act), in each
case, satisfying the requirements set forth on Schedule B hereto, and is acquiring the Acquired Securities (including the Underlying Common) only for its own account and not for the account of others, and not on behalf of any other account or
person or with a view to, or for offer or sale in connection with, any distribution thereof in violation of the Securities Act (and has accurately completed Schedule B hereto). Accordingly, such Subscriber understands that the offering of the
Acquired Securities meets the exemptions from filing under FINRA Rule 5123(b)(1)(C) or (J). Such Subscriber is not an entity formed for the specific purpose of acquiring the Acquired Securities or the Underlying Common. 

b.    Such Subscriber (i) is an institutional account as defined in FINRA Rule 4512(c), (ii) is a sophisticated
investor, experienced in investing in private equity transactions and capable of evaluating investment risks independently, both in general and with regard to all transactions and investment strategies involving a security or securities and
(iii) has exercised independent judgment in evaluating its participation in 

  
 6 

 
the purchase of the Acquired Securities (including the Underlying Common). Accordingly, such Subscriber understands that the offering meets (x) the exemptions from filing under FINRA Rule
5123(b)(1)(A) and (y) the institutional customer exemption under FINRA Rule 2111(b). 
 c.    Such Subscriber has
been duly formed or incorporated and is validly existing in good standing under the laws of its jurisdiction of incorporation or formation, with power and authority to enter into, deliver and perform its obligations under this Subscription
Agreement. 
 d.    This Subscription Agreement has been duly authorized, executed and delivered by such Subscriber.
This Subscription Agreement is enforceable against such Subscriber in accordance with its terms, except as may be limited or otherwise affected by (i) bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium or other laws
relating to or affecting the rights of creditors generally, and (ii) principles of equity, whether considered at law or equity. 

e.    The execution, delivery and performance of this Subscription Agreement (including the compliance by such Subscriber
with all of the provisions of this Subscription Agreement applicable to it and the consummation of the transactions contemplated hereby) will not (i) conflict with or result in a breach or violation of any of the terms or provisions of, or
constitute a default under, or result in the creation or imposition of any lien, charge or encumbrance upon any of the property or assets of such Subscriber or any of its subsidiaries pursuant to the terms of any indenture, mortgage, deed of trust,
loan agreement, lease, license or other agreement or instrument to which such Subscriber or any of its subsidiaries is a party or by which such Subscriber or any of its subsidiaries is bound or to which any of the property or assets of such
Subscriber or any of its subsidiaries is subject, which would materially affect the legal authority of such Subscriber to comply in all material respects with the terms of this Subscription Agreement (a “Subscriber Material Adverse
Effect”); (ii) result in any violation of the provisions of the organizational documents of such Subscriber or any of its subsidiaries; or (iii) result in any violation of any statute or any judgment, order, rule or regulation of any
court or governmental agency or body, domestic or foreign, having jurisdiction over such Subscriber or any of its subsidiaries or any of their respective properties that would reasonably be expected to have a such Subscriber Material Adverse Effect.

 f.    Such Subscriber understands that the Acquired Securities and the Underlying Common are being offered in a
transaction not involving any public offering within the meaning of the Securities Act and that neither the Acquired Securities nor the Underlying Common have been registered under the Securities Act. Such Subscriber understands that neither the
Acquired Securities nor the Underlying Common may be resold, transferred, pledged or otherwise disposed of by such Subscriber absent an effective registration statement under the Securities Act, except (i) to the Company or a subsidiary
thereof, (ii) in an “offshore transaction” within the meaning of Regulation S under the Securities Act or (iii) pursuant to another applicable exemption from the registration requirements of the Securities Act, and that any
book-entry position or certificates representing the Acquired Securities and the Underlying Common shall contain the following legend: 

[NEITHER THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE
CONVERTIBLE HAVE BEEN] [THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN] REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED,
PLEDGED OR OTHERWISE DISPOSED OF EXCEPT (I) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER SUCH ACT OR SUCH LAWS OR (II) AN EXEMPTION FROM REGISTRATION UNDER SUCH ACT AND SUCH LAWS WHICH, IN THE OPINION OF COUNSEL, IS AVAILABLE.
NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES. 

  
 7 

 Upon the request of such Subscriber (or any transferee of the Acquired Securities and/or the Underlying
Common), in connection with a sale of the Acquired Securities and/or the Underlying Common pursuant to an effective registration statement or exemption under the Securities Act and any state securities laws, the Company shall promptly (and in any
event within two (2) business days after such Subscriber (or any transferee of the Acquired Securities and/or the Underlying Common) has provided any supporting documentation reasonably requested by Company counsel) cause its counsel to deliver
a legal opinion to the Company’s transfer agent to remove the above legend from the Acquired Securities and/or the Underlying Common subject to such sale; provided, that such Subscriber (or any transferee of the Acquired Securities
and/or the Underlying Common) shall not be required to deliver a legal opinion in connection with any sale; provided, further, that the Company may request a customary representation letter from such Subscriber (or any transferee of
the Acquired Securities and/or the Underlying Common) in connection with a sale of the Acquired Securities and/or the Underlying Common pursuant to an exemption under the Securities Act to cause the aforementioned legend to be removed from any
certificate or book-entry position to be transferred in accordance with the terms hereof. Notwithstanding the foregoing, the Acquired Securities and the Underlying Common may be pledged in connection with a bona fide margin account or other loan or
financing arrangement secured by the Acquired Securities and the Underlying Common and such pledge of Acquired Securities and the Underlying Common shall not be deemed to be a transfer, sale or assignment hereunder, and such Subscriber effecting a
pledge of the Acquired Securities and/or the Underlying Common shall not be required to provide the Company with any notice thereof or otherwise make any delivery to the Company pursuant to this Subscription Agreement or otherwise. 

Such Subscriber acknowledges that the Underlying Common will not be eligible for resale pursuant to Rule 144A promulgated under the Securities Act. Such
Subscriber understands and agrees that the Acquired Securities and the Underlying Common will be subject to transfer restrictions and, as a result of these transfer restrictions, such Subscriber may not be able to readily resell the Acquired
Securities or the Underlying Common and may be required to bear the financial risk of an investment in the Acquired Securities or the Underlying Common for an indefinite period of time. Such Subscriber understands that it has been advised to consult
legal counsel prior to making any offer, resale, pledge or transfer of any of the Acquired Securities or the Underlying Common. 

g.    Such Subscriber acknowledges that certain of the financial information provided to such Subscriber with respect to
Arko Holdings and GPM Investments, LLC (“GPM”), which was prepared by, or on behalf of, Arko Holdings and GPM, respectively, has not been audited in accordance with the standards of the Public Company Accounting Oversight Board
(United States) and such financial information may differ after being subject to such an audit, in which form it is expected to be presented in a proxy statement and/or other filings with the SEC. 

h.    Such Subscriber represents and warrants that its acquisition and holding of neither the Acquired Securities nor the
Underlying Common will constitute or result in a non-exempt prohibited transaction under Section 406 of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”),
Section 4975 of the Internal Revenue Code of 1986, as amended (the “Code”), or any applicable similar law. 

i.    In making its decision to purchase the Acquired Securities (including the Underlying Common), such Subscriber
represents that it has relied solely upon independent investigation made by such Subscriber, and it is fully capable of conducting its own due diligence, examination and analysis of the Company, Arko Holdings, GPM, and the Transaction. Such
Subscriber acknowledges and agrees that such Subscriber has received such information as such Subscriber deems necessary in order to make an investment decision with respect to the Acquired Securities (including the Underlying Common), including
with respect to the Company, Arko Holdings, GPM and the Transaction. Such Subscriber represents and agrees that such Subscriber and such Subscriber’s professional advisor(s), if any, have had the opportunity to ask such questions, receive such
answers and obtain such information as such Subscriber and such Subscriber’s professional advisor(s), if any, have deemed necessary to make an investment decision with respect to the Acquired Securities (including the Underlying Common). Such
Subscriber further acknowledges that the information provided to such Subscriber is preliminary and subject to change. 

  
 8 

 j.    Such Subscriber became aware of this offering of the Acquired
Securities solely by means of direct contact between such Subscriber, on the one hand, and the Company, Haymaker, Arko Holdings, GPM, the Placement Agents and/or their respective advisors (including without limitation, attorneys, accountants,
bankers, consultants, financial advisors), agents, control persons, representatives, affiliates, directors, officers, managers, members, and/or employees, and/or the representatives of such persons (such parties, collectively
“Representatives”), on the other hand. The Acquired Securities were offered to such Subscriber solely by direct contact between such Subscriber and the Company, Haymaker, Arko Holdings, GPM, the Placement Agents and/or their
respective Representatives. Such Subscriber acknowledges that it is not relying upon, and has not relied upon, any statement, representation or warranty made by any person or entity (including, without limitation, the Company, Haymaker, Arko
Holdings, GPM, the Placement Agents or their respective Representatives), other than the representations and warranties contained in Article 3 of this Subscription Agreement and the statements in the SEC Documents, in making its investment or
decision to invest in the Company. Such Subscriber did not become aware of this offering of the Acquired Securities, nor were the Acquired Securities offered to such Subscriber, by any other means, and none of the Company, Haymaker, Arko Holdings,
GPM, the Placement Agents or their respective Representatives acted as investment adviser, broker or dealer to such Subscriber. Such Subscriber acknowledges that the Acquired Securities were not offered by any form of general advertising or, to its
knowledge, general solicitation. 
 k.    Such Subscriber acknowledges that it is aware that there are substantial risks
incident to the purchase and ownership of the Acquired Securities and the Underlying Common. Such Subscriber has such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of an investment in
the Acquired Securities and the Underlying Common, and such Subscriber has sought such accounting, legal and tax advice as such Subscriber has considered necessary to make an informed investment decision. 

l.    Alone, or together with any professional advisor(s), such Subscriber represents and acknowledges that such
Subscriber has adequately analyzed and fully considered the risks of an investment in the Acquired Securities and the Underlying Common and determined that the Acquired Securities and the Underlying Common are a suitable investment for such
Subscriber and that such Subscriber is able at this time and in the foreseeable future to bear the economic risk of a total loss of such Subscriber’s investment in the Company. Such Subscriber acknowledges specifically that a possibility of
total loss exists. 
 m.    Such Subscriber understands and agrees that no federal or state agency has passed upon or
endorsed the merits of the offering of the Acquired Securities or the Underlying Common or made any findings or determination as to the fairness of this investment. 

n.    Such Subscriber represents and warrants that such Subscriber is not (i) a person or entity named on the List of
Specially Designated Nationals and Blocked Persons administered by Office of Foreign Assets Control of the U.S. Treasury Department (“OFAC”), the OFAC Consolidated Sanctions List or in any Executive Order issued by the President of
the United States and administered by OFAC (“OFAC Lists”), or a person or entity prohibited by any OFAC sanctions program or a person or entity whose property and interests in property subject to U.S. jurisdiction are otherwise
blocked under any U.S. laws, Executive orders or regulations, (ii) an entity owned, directly or indirectly, individually or in the aggregate, 50 percent or more by one or more persons described in subsection (i), (iii) a person or entity
listed on the Sectoral Sanctions Identifications List (“SSI List”) maintained by OFAC or otherwise determined by OFAC to be subject to one or more of the Directives issued under Executive Order 13662 of March 20, 2014, or an
entity owned, directly or indirectly, individually or in the aggregate, 50 percent or more by one or more persons or entities that are subject to the SSI List restrictions, (iv) a person or entity named on the U.S. Department of Commerce,
Bureau of Industry and Security Denied Persons List, Entity List, or Unverified List (“BIS Lists”), (v) a Designated National as defined in the Cuban Assets Control Regulations, 31 C.F.R. Part 515, or (vi) a non-U.S. shell bank or providing banking services indirectly to a non-U.S. shell bank. Such Subscriber agrees to provide law enforcement agencies, if requested thereby, such
records as required by applicable law, provided that such Subscriber is permitted to do so under applicable law. 

  
 9 

 
Such Subscriber represents that if it is a financial institution subject to the Bank Secrecy Act (31 U.S.C. Section 5311 et seq.) (the “BSA”), as amended by the USA PATRIOT
Act of 2001 (the “PATRIOT Act”), and its implementing regulations (collectively, the “BSA/PATRIOT Act”), that such Subscriber maintains policies and procedures reasonably designed to comply with applicable
obligations under the BSA/PATRIOT Act. Such Subscriber also represents that, to the extent required, it maintains policies and procedures reasonably designed for the screening of its investors against the OFAC and BIS sanctions programs, including
the OFAC Lists and BIS Lists, and otherwise to ensure compliance with all applicable sanctions and embargo laws, statutes, and regulations. Such Subscriber further represents and warrants that, to the extent required, it maintains policies and
procedures reasonably designed to ensure that the funds held by such Subscriber and used to purchase the Acquired Securities were legally derived. 

o.    Such Subscriber represents and warrants that neither such Subscriber nor any of its subsidiaries, nor any director,
officer, or employee of any of such Subscriber or any of its subsidiaries nor, to the knowledge of any of such Subscriber, any agent, affiliate that is controlled by such Subscriber or any of its subsidiaries, or other person associated with or
acting on behalf of any of such Subscriber or any of its subsidiaries, has: (A) used any funds for any unlawful contribution, gift, entertainment or other unlawful expense relating to political activity; (B) made or taken an act in
furtherance of an offer, promise or authorization of any direct or indirect unlawful payment or benefit to any foreign or domestic government or regulatory official or employee, including of any government-owned or controlled entity or of a public
international organization, or any person acting in an official capacity for or on behalf of any of the foregoing, or any political party or party official or candidate for political office; (C) violated or is in violation of any provision of
the Foreign Corrupt Practices Act of 1977, as amended, or any applicable law or regulation implementing the OECD Convention on Combating Bribery of Foreign Public Officials in International Business Transactions, or committed an offense under the
Bribery Act 2010 of the United Kingdom, or any other applicable anti-bribery or anti-corruption laws; or (D) made, offered, agreed, requested or taken an act in furtherance of any unlawful bribe or other unlawful benefit, including, without
limitation, any rebate, payoff, influence payment, kickback or other unlawful or improper payment or benefit. 

p.    Such Subscriber has or has commitments to have, and at least two (2) business days prior to the Scheduled
Closing Date will have, sufficient funds to pay the Purchase Price for the Acquired Securities to be issued and sold on the Closing Date pursuant to Section 2(a) of this Subscription Agreement and consummate the Closing(s)
when required pursuant to this Subscription Agreement. 
 q.    Such Subscriber hereby acknowledges and agrees that it
has received and reviewed the disclosure set forth on Schedule C hereto. 
 r.    Such Subscriber has not
employed any broker or finder or incurred any liability for any financial advisory fees, brokerage fees, commissions or finder’s fees, and no broker or finder has acted directly or indirectly for the Subscriber in connection with this
Subscription Agreement or the subscriptions contemplated hereby. 
 5.    Registration Rights. 

a.    At the Initial Closing, the Company, each Subscriber and certain other persons shall execute and deliver the
registration rights and lock-up agreement in the form attached hereto as Exhibit B (the “Registration Rights Agreement”), pursuant to which, among other things, the Company shall agree
under certain circumstances to register the resale of the Underlying Common, under the Securities Act, and the rules and regulations promulgated thereunder. 

b.    Notwithstanding the foregoing, the Company understands and agrees that the Subscribers do not wish to receive any
notice to be provided information or any notice to request for information pursuant to Sections 2(a), 2(d), 2(f)(i) and 3(a), as the case may be, under the Registration Rights Agreement and, therefore,

  
 10 

 
the Company shall not provide any Subscriber any such notice until such time as such Subscribers notify the Company in writing that they would be willing to receive notices pursuant to the
Registration Rights Agreement. The Company shall use its reasonable best efforts to ensure that that no other party to the Registration Rights Agreement provides the Subscribers with any information or notices pursuant thereto, except in compliance
with the provisions of this Section 5(b). 
 6.    Termination. This Subscription
Agreement shall terminate and be void and of no further force and effect, and all rights and obligations of the parties hereunder shall terminate without any further liability on the part of any party in respect thereof, upon the earlier to occur of
(a) such date and time as the Transaction Agreement is terminated in accordance with its terms, (b) upon the mutual written agreement of each of the parties hereto to terminate this Subscription Agreement, (c) if any of the conditions
to Closing set forth in Section 2 of this Subscription Agreement are not satisfied or waived on or prior to the Initial Closing and, as a result thereof, the transactions contemplated by this Subscription Agreement are not
and will not be consummated at the Initial Closing, (d) the Outside Date (as defined in the Transaction Agreement (including the extension provisions provided for in the Transaction Agreement and any extensions resulting from any amendments to
the Transaction Agreement)), or (e) March 31, 2021; provided, further that nothing herein will relieve any party hereto from liability for any willful breach hereof (including for the avoidance of doubt such Subscriber’s
willful breach of Section 2(b)(i) of this Subscription Agreement with respect to its representations and warranties as of the Closing Date) prior to the time of termination, and each party hereto will be entitled to any
remedies at law or in equity to recover losses, liabilities or damages arising from such breach. The Company shall promptly notify each Subscriber in writing of the termination of the Transaction Agreement promptly after the termination of the
Transaction Agreement. 
 7.    Trust Account Waiver. Reference is made to the final prospectus of Haymaker,
filed with the SEC (File No. 333-231617) on June 10, 2019, and dated as of June 6, 2019 (the “Prospectus”). Each Subscriber hereby represents and warrants that it has had the
opportunity to read the Prospectus and understands that Haymaker has established a trust account (the “Trust Account”) containing the proceeds from its initial public offering (the “IPO”), the overallotment shares
acquired by its underwriters and certain private placements occurring simultaneously with the IPO (including interest accrued from time to time thereon) for the benefit of Haymaker’s public stockholders (including overallotment shares acquired
by Haymaker’s underwriters, the “Public Stockholders”), and that, except as otherwise described in the Prospectus, Haymaker may disburse monies from the Trust Account only: (a) to the Public Stockholders in the event they
elect to redeem their Company shares in connection with the consummation of Haymaker’s initial business combination (as such term is used in the Prospectus) (a “Business Combination”) or in connection with an extension of its
deadline to consummate a Business Combination, (b) to the Public Stockholders if Haymaker fails to consummate a Business Combination within twenty four (24) months after the closing of the IPO, (c) with respect to any interest earned
on the amounts held in the Trust Account, as necessary to pay any taxes and dissolution expenses, or (d) to Haymaker after or concurrently with the consummation of a Business Combination. For other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, each Subscriber hereby agrees on behalf of itself and its controlling persons acting on its behalf that, notwithstanding anything to the contrary in this Subscription Agreement and except with
respect to any Subscriber’s right, title, interest or claim to the Trust Account by virtue of such Subscriber’s record or beneficial ownership of securities of Haymaker acquired by any means other than pursuant to this Subscription
Agreement, including but not limited to any redemption right with respect to any previously-held securities of Haymaker or securities hereafter acquired other than pursuant to this Subscription Agreement (the “Exceptions”), neither
such Subscriber nor any of its controlling persons acting on its behalf does now nor shall at any time hereafter have any right, title, interest or claim of any kind in or to any monies in the Trust Account or distributions therefrom, or make any
claim against the Trust Account (including any distributions therefrom), to the extent such claim arises as a result of, in connection with or relating in any way to, this Subscription Agreement, the transactions contemplated hereby, the Acquired
Securities or the Underlying Common, or any other matter (other than the Exceptions), and regardless of whether such claim arises based on contract, tort, equity or any other theory of legal liability. Each Subscriber acknowledges and agrees that it
shall not have any redemption rights with respect to the Acquired Securities or the Underlying 

  
 11 

 
Common pursuant to Haymaker’s organizational documents in connection with the Transaction or any other business combination, any subsequent liquidation of the Trust Account, Haymaker or
otherwise. Each Subscriber agrees and acknowledges that such agreement is material to this Subscription Agreement, and such Subscriber further intends and understands such agreement to be valid, binding and enforceable against such Subscriber and
each of its controlling persons acting on its behalf under applicable law. To the extent a Subscriber or any of its controlling persons acting on its behalf commences any action or proceeding based upon, in connection with, relating to or arising
out of this Subscription Agreement, the transactions contemplated hereby, the Acquired Securities or the Underlying Common, which proceeding seeks, in whole or in part, monetary relief against Haymaker or its Representatives, such Subscriber hereby
acknowledges and agrees that the sole remedy of such Subscriber and its controlling persons acting on its behalf shall be against funds held outside of the Trust Account and that such claim shall not permit such Subscriber or any of its controlling
persons acting on its behalf (or any person claiming on behalf of, or in lieu of, any of the foregoing) to have any such claim against the Trust Account (including any distributions therefrom) or any amounts contained therein. In the event
Subscriber or any of its controlling persons acting on its behalf commences any action or proceeding based upon, in connection with, relating to or arising out of any matter (other than the Exceptions) relating to Haymaker or its Representatives,
which proceeding seeks, in whole or in part, relief against the Trust Account (including any distributions therefrom) or the Public Stockholders, whether in the form of money damages or injunctive relief, Haymaker and its Representatives, as
applicable, shall be entitled to recover from Subscriber or any of its controlling persons acting on its behalf the associated legal fees and costs in connection with any such action, in the event Haymaker or its Representatives, as applicable,
prevails in such action or proceeding. In the event Subscriber has any claim against Haymaker as a result of, or arising out of, this Subscription Agreement, the transactions contemplated hereby, the Acquired Securities or the Underlying Common, it
shall pursue such claim solely against Haymaker and its assets outside the Trust Account and not against the Trust Account or any monies or other assets in the Trust Account. 

8.    Miscellaneous. 

a.    Each Subscriber acknowledges that the Company, Haymaker, Arko Holdings, GPM and others will rely on the
acknowledgments, understandings, agreements, representations and warranties contained in this Subscription Agreement. Prior to the applicable Closing, each party agrees to promptly notify the other parties hereto in writing if any of the
acknowledgments, understandings, agreements, representations and warranties set forth herein are no longer accurate in all material respects. 

b.    The Company is entitled to rely upon this Subscription Agreement and is irrevocably authorized to produce this
Subscription Agreement or a copy hereof to any interested party in any administrative or legal proceeding or official inquiry with respect to the matters covered hereby. 

c.    Neither this Subscription Agreement nor any rights that may accrue to a Subscriber hereunder may be transferred or
assigned; provided, however, that each Subscriber may assign this Subscription Agreement to an affiliate subject to the assignee executing a joinder in a form acceptable to the Company; provided, further, that any such
assignment shall not relieve such Subscriber of any of its obligations hereunder unless and until the assignee satisfies such obligations in their entirety; provided, further, that such Subscriber may assign its registration rights to a
transferee of the Acquired Securities and/or Underlying Common in accordance with the terms of the Registration Rights Agreement. 

d.    Other than (i) the agreements, representations and warranties set forth in
Section 4(f) and Section 5(b) of this Subscription Agreement, which shall survive any Closing, and (ii) the agreements, representations and warranties set forth in
Section 3 (other than clause (f), (h), (i), (j) and (n) thereof) and Section 4 (other than clause (f) thereof) of this Subscription Agreement, which shall expire and terminate with
respect to the Acquired Securities acquired at a particular Closing on the date that is the second anniversary of such Closing, all the agreements, representations and warranties made by each party hereto in this Subscription Agreement shall expire
and terminate with respect to the Acquired Securities acquired at a particular Closing at such Closing. 

  
 12 

 e.    The Company may request from each Subscriber such additional
information as the Company may reasonably deem necessary to evaluate the eligibility of such Subscriber to acquire the Acquired Securities or the Underlying Common, and each Subscriber shall provide such information as may be reasonably requested,
to the extent readily available and to the extent consistent with its internal policies and procedures. 
 f.    This
Subscription Agreement may not be modified, waived or terminated except by an instrument in writing, signed by the party against whom enforcement of such modification, waiver, or termination is sought; provided, that Sections 4 and
8(h) of this Subscription Agreement may not be amended, terminated or waived in a manner that is material and adverse to any Placement Agent without the written consent of such Placement Agent. For the avoidance of doubt, this Subscription
Agreement may not be modified, waived or terminated, in each case by the Company, without the written consent of Arko Holdings. 

g.    This Subscription Agreement constitutes the entire agreement, and supersedes all other prior agreements,
understandings, representations and warranties, both written and oral, among the parties, with respect to the subject matter hereof. Subscriber acknowledges that it is subject to the terms of a nondisclosure agreement, dated as of October 12,
2020, between MSD Partners, L.P. and GPM (the “NDA”), and that the NDA shall remain in full force and effect in accordance with the terms set forth therein. Notwithstanding the foregoing, the Company hereby acknowledges and agrees
that, following the Closing, nothing in the NDA will prohibit any Subscriber nor any of its affiliates from purchasing or selling, or otherwise transacting in, any securities of the Company as a result of their receipt of information regarding the
Company from Company, Haymaker, Arko Holdings, any of their respective subsidiaries or any of their respective officers, directors, affiliates, or employees pursuant to the NDA. 

h.    Except as otherwise provided herein, this Subscription Agreement shall be binding upon, and inure to the benefit of
the parties hereto and their heirs, executors, administrators, successors, legal representatives, and permitted assigns, and the agreements, representations, warranties, covenants and acknowledgments contained herein shall be deemed to be made by,
and be binding upon, such heirs, executors, administrators, successors, legal representatives and permitted assigns. The parties hereto agree that (i) Haymaker is an express third-party beneficiary of this Subscription Agreement and
(ii) the Placement Agents are express third-party beneficiary of the representations and warranties of the Company in Section 3, the representations and warranties of each Subscriber in
Section 4, and the Placement Agents’ express rights in Section 8(f) and this Section 8(h) of this Subscription Agreement. The parties hereto agree that irreparable
damage would occur in the event that any of the provisions of this Subscription Agreement were not performed in accordance with their specific terms or were otherwise breached. The parties hereto acknowledge and agree that the Placement Agents shall
be entitled to equitable relief, without proof of actual damages, including an injunction or injunctions or order for specific performance to prevent breaches of their rights referenced in the immediately preceding sentence, this being in addition
to any other remedy to which such party is entitled at law, in equity, in contract, in tort or otherwise. Each of the parties hereto and Haymaker shall be entitled to equitable relief, without proof of actual damages, including an injunction or
injunctions or order for specific performance to prevent breaches of this Subscription Agreement and to enforce specifically the terms and provisions of this Subscription Agreement to cause each Subscriber to fund their respective aggregate Purchase
Price and cause the Closing(s) to occur if the conditions in Section 2(b) have been satisfied or, to the extent permitted by applicable law, waived by such party that benefits from such closing condition(s), this being in
addition to any other remedy to which such party is entitled at law, in equity, in contract, in tort or otherwise. Each party hereto further agrees that the none of the parties hereto or the parties listed in the second sentence of this
Section 8(g) shall be required to obtain, furnish or post any bond or similar instrument in connection with or as a condition to obtaining any remedy referred to in this Section 8(g), and each
party hereto irrevocably waives any right it may have to require the obtaining, furnishing or posting of any such bond or similar instrument. 

i.    If any provision of this Subscription Agreement shall be invalid, illegal or unenforceable, the validity, legality
or enforceability of the remaining provisions of this Subscription Agreement shall not in any way be affected or impaired thereby and shall continue in full force and effect. 

  
 13 

 j.    This Subscription Agreement may be executed in one or more
counterparts (including by facsimile or electronic mail or in .pdf) and by different parties in separate counterparts, with the same effect as if all parties hereto had signed the same document. All counterparts so executed and delivered shall be
construed together and shall constitute one and the same agreement. 
 k.    Intentionally omitted. 

l.    THE PARTIES HERETO IRREVOCABLY SUBMIT TO THE EXCLUSIVE JURISDICTION OF THE DELAWARE COURT OF CHANCERY (OR, SOLELY
IN THE EVENT THE DELAWARE COURT OF CHANCERY DECLINES TO EXERCISE SUCH JURISDICTION, THE EXCLUSIVE JURISDICTION OF ANY STATE OR FEDERAL COURT LOCATED IN THE STATE OF DELAWARE) SOLELY IN RESPECT OF THE INTERPRETATION AND ENFORCEMENT OF THE PROVISIONS
OF THIS SUBSCRIPTION AGREEMENT AND THE DOCUMENTS REFERRED TO IN THIS SUBSCRIPTION AGREEMENT AND IN RESPECT OF THE TRANSACTIONS CONTEMPLATED HEREBY, AND HEREBY WAIVE, AND AGREE NOT TO ASSERT, AS A DEFENSE IN ANY ACTION, SUIT OR PROCEEDING FOR
INTERPRETATION OR ENFORCEMENT HEREOF OR ANY SUCH DOCUMENT THAT IS NOT SUBJECT THERETO OR THAT SUCH ACTION, SUIT OR PROCEEDING MAY NOT BE BROUGHT OR IS NOT MAINTAINABLE IN SAID COURTS OR THAT VENUE THEREOF MAY NOT BE APPROPRIATE OR THAT THIS
SUBSCRIPTION AGREEMENT OR ANY SUCH DOCUMENT MAY NOT BE ENFORCED IN OR BY SUCH COURTS, AND THE PARTIES HERETO IRREVOCABLY AGREE THAT ALL CLAIMS WITH RESPECT TO SUCH ACTION, SUIT OR PROCEEDING SHALL BE HEARD AND DETERMINED BY THE DELAWARE COURT OF
CHANCERY (OR, SOLELY IN THE EVENT THE DELAWARE COURT OF CHANCERY DECLINES TO EXERCISE SUCH JURISDICTION, THE EXCLUSIVE JURISDICTION OF ANY STATE OR FEDERAL COURT LOCATED IN THE STATE OF DELAWARE). THE PARTIES HEREBY CONSENT TO AND GRANT ANY SUCH
COURT JURISDICTION OVER THE PERSON OF SUCH PARTIES AND OVER THE SUBJECT MATTER OF SUCH DISPUTE AND AGREE THAT MAILING OF PROCESS OR OTHER PAPERS IN CONNECTION WITH SUCH ACTION, SUIT OR PROCEEDING IN THE MANNER PROVIDED IN SECTION
8(q) OF THIS SUBSCRIPTION AGREEMENT OR IN SUCH OTHER MANNER AS MAY BE PERMITTED BY LAW SHALL BE VALID AND SUFFICIENT SERVICE THEREOF. 

EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS SUBSCRIPTION AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY IS LIKELY
TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH SUCH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING
TO THIS SUBSCRIPTION AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS SUBSCRIPTION AGREEMENT. EACH PARTY CERTIFIES AND ACKNOWLEDGES 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 LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER; (II) SUCH PARTY UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THE FOREGOING WAIVER; (III) SUCH PARTY MAKES THE FOREGOING WAIVER VOLUNTARILY
AND (IV) SUCH PARTY HAS BEEN INDUCED TO ENTER INTO THIS SUBSCRIPTION AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVER AND CERTIFICATIONS IN THIS SECTION 8(l). 

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

  
 14 

 n.    The Company grants each Subscriber permission to use the
Company’s name and logo in such Subscriber’s or its respective affiliates’ materials listing such Subscriber’s investments. Subject to consent by the Company, such Subscriber may also use the names and logos of the subsidiaries
of the Company in such materials. Each Subscriber or its respective affiliate, as applicable, shall include a trademark attribution notice giving notice of the Company’s or its subsidiaries’ ownership of its trademarks in the marketing
materials in which the Company’s or its subsidiaries’ names and logos appear and such names and logos shall be displayed only in accordance with GPM’s then current branding standards, including, without limitation, those related to
colors and placement and all TM and ® marks. To the extent permission to use GPM’s and its subsidiaries’ name and/or logo is
granted, each Subscriber agrees to promptly remove such references upon receipt of GPM’s written request to do so. 

o.    On the date of the Initial Closing, the Company shall reimburse the Subscribers for the reasonable out-of-pocket legal fees incurred by the Subscribers in connection with the negotiation, execution and consummation of the transaction contemplated hereby, up to $200,000 in
the aggregate; provided, however, that if such reasonable out-of-pocket legal fees incurred by the Subscribers as of the Initial Closing is less than
$200,000, the Company shall reimburse the Subscribers on the Option Closing Date, if any, for additional legal fees incurred for such Closing, up to $200,000 in the aggregate with the fees reimbursed at the Initial Closing. The Subscribers may
deduct such fees from the amount payable by it at such Closing, and the Company will treat such amount as a payment for the Acquired Securities at such Closing. 

p.    Any notice or communication required or permitted hereunder shall be in writing and either delivered personally,
emailed or sent by overnight mail via a reputable overnight carrier and shall be deemed to be given and received (i) when so delivered personally, (ii) when sent, with no mail undeliverable or other rejection notice, if sent by email, or
(iii) one (1) business day after the date of overnight mailing to the address below or to such other address or addresses as such person may hereafter designate by notice given hereunder: 

(i)    if to Subscribers, to such address(es) or email address(es) set forth on Schedule A attached hereto; 

with a copy to: 

Raymond James & Associates, Inc. 

880 Carillon Parkway 

St. Petersburg, FL 33716 

Attention: Bonnie Bishop, Managing Director, Equity Capital Markets 

Email: Bonnie.Bishop@RaymondJames.com 

Stifel, Nicolaus & Company, Incorporated 

787 7th Avenue, 11th
Floor 
 New York, New York 10019 

Attention: Craig M. DeDomenico, Managing Director, Head of Equity-Linked Capital Markets 

Email: dedomenicoc@stifel.com 

Nomura Securities International, Inc. 

309 West 49th Street 

New York, New York 10019 Attention: Bryan Finkel, Managing Director, Equity Capital Markets 

Email: Bryan.Finkel@nomura.com 

and 

Mayer Brown LLP 

1221 Avenue of the Americas 

New York, New York 10020 

Attention: Anna T. Pinedo, Esq. 

Email: APinedo@mayerbrown.com 

  
 15 

 (ii)    if to the Company (prior to the Transaction
closing), to: 
 ARKO Corp. 

650 Fifth Avenue 

Floor 10 

New York, New York 10019 

	 	Attention:	 Steven J. Heyer 

	 	  	 Andrew R. Heyer 

	 	  	 Christopher Bradley 

	 	E-mail:	 sjheyer13@gmail.com 

	 	  	 AHeyer@mistralequity.com 

	 	  	 CBradley@mistralequity.com 

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

DLA Piper LLP (US) 

1251 Avenue of the Americas 

New York, New York 10020 

	 	Attention:	 Sidney Burke 

	 	  	 Stephen P. Alicanti 

	 	Email:	 sidney.burke@dlapiper.com 

	 	  	 stephen.alicanti@dlapiper.com 

(iii)     if to the Company (following the Transaction closing), to: 

c/o ARKO Holdings Ltd. 

Hanechushet Street, Building B, 3rd Floor 

Tel Aviv 6971068, Israel 

	 	Attention:	 Irit Aviram, Adv. 

	 	Email:	 irita@arko-holdings.com 

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

GPM Investments, LLC 

8565 Magellan Pkwy Suite 400 

Attention: Maury Bricks 

Email: mbricks@gpminvestments.com 

and 

Greenberg Traurig, P.A. 

333 SE 2nd Ave., Suite 4400 

Miami, FL 33131 

Attention: Alan I. Annex, Esq. 

Email: annexa@gtlaw.com 

[Signature pages follow] 

  
 16 

 IN WITNESS WHEREOF, each of the Company and the Subscribers have executed or caused this Subscription
Agreement to be executed by its duly authorized representative as of the date first set forth above. 
  

			
	 ARKO CORP.
  

	By:	 	 /s/ Christopher Bradley

		 	Name:   Christopher Bradley
		 	Title:     Chief Financial Officer

  
 SIGNATURE
PAGE TO SUBSCRIPTION AGREEMENT 

			
	 SUBSCRIBER:
  

	Signature of Subscriber:

			
		
	By:	 	  /s/ Marcello Liguori

			
	Name: Marcello Liguori

			
	Title: Managing Director

			
		
	Date:	 	  November 18, 2020

	
	  
 Name of Subscriber:

MSD Special Investments Fund, L.P.

(Please print. Please indicate name and
 capacity of person
signing above)
  

	 Name in which shares are to be registered
 (if
different):

			
		
	Email Address:	 	  [***]

			
		
	Subscriber’s EIN:	 	  [***]

	
	  
 Business Address-Street:

[***]

[***]
 City, State, Zip:

 

	Attn: [***]

			
		
	Telephone No.:	 	  [***]

			
		
	Facsimile No.:	 	  [***]

			
		
	Jurisdiction of residency:	 	  [***]

 You must pay the Purchase Price for the Acquired Securities to be issued and sold at each Closing by wire transfer of United
States dollars in immediately available funds to the account specified by the Company in the Closing Notice. 

  
 SIGNATURE
PAGE TO SUBSCRIPTION AGREEMENT 

			
	 SUBSCRIBER:
  

	Signature of Subscriber:

			
		
	By:	 	  /s/ Marcello Liguori

			
	Name: Marcello Liguori

			
	Title: Managing Director

			
		
	Date:	 	  November 18, 2020

	
	  
 Name of Subscriber:

MSD SIF Holdings, L.P.
 (Please
print. Please indicate name and
 capacity of person signing above)

 

	 Name in which shares are to be registered
 (if
different):

			
		
	Email Address:	 	  [***]

			
		
	Subscriber’s EIN:	 	  [***]

	
	  
 Business Address-Street:

[***]

[***]
 City, State, Zip:

 

	Attn: [***]

			
		
	Telephone No.:	 	  [***]

			
		
	Facsimile No.:	 	  [***]

			
		
	Jurisdiction of residency:	 	  [***]

 You must pay the Purchase Price for the Acquired Securities to be issued and sold at each Closing by wire transfer of United
States dollars in immediately available funds to the account specified by the Company in the Closing Notice. 

  
 SIGNATURE
PAGE TO SUBSCRIPTION AGREEMENT 

			
	 SUBSCRIBER:
  

	Signature of Subscriber:

			
		
	By:	 	  /s/ Marcello Liguori

			
	Name: Marcello Liguori

			
	Title: Managing Director

			
		
	Date:	 	  November 18, 2020

	
	  
 Name of Subscriber:

MSD Credit Opportunity Master Fund, L.P.

(Please print. Please indicate name and
 capacity of person
signing above)
  

	 Name in which shares are to be registered
 (if
different):

			
		
	Email Address:	 	  [***]

			
		
	Subscriber’s EIN:	 	  [***]

	
	  
 Business Address-Street:

[***]

[***]
 City, State, Zip:

 

	Attn: [***]

			
		
	Telephone No.:	 	  [***]

			
		
	Facsimile No.:	 	  [***]

			
		
	Jurisdiction of residency:	 	  [***]

 You must pay the Purchase Price for the Acquired Securities to be issued and sold at each Closing by wire transfer of United
States dollars in immediately available funds to the account specified by the Company in the Closing Notice. 

  
 SIGNATURE
PAGE TO SUBSCRIPTION AGREEMENT 

			
	 SUBSCRIBER:
  

	Signature of Subscriber:

			
		
	By:	 	  /s/ Marcello Liguori

			
	Name: Marcello Liguori

			
	Title: Managing Director

			
		
	Date:	 	  November 18, 2020

	
	  
 Name of Subscriber:

MSD Private Credit Opportunity Master Fund 2, L.P.

(Please print. Please indicate name and
 capacity of person
signing above)
  

	 Name in which shares are to be registered
 (if
different):

			
		
	Email Address:	 	  [***]

			
		
	Subscriber’s EIN:	 	  [***]

	
	  
 Business Address-Street:

[***]

[***]
 City, State, Zip:

 

	Attn: [***]

			
		
	Telephone No.:	 	  [***]

			
		
	Facsimile No.:	 	  [***]

			
		
	Jurisdiction of residency:	 	  [***]

 You must pay the Purchase Price for the Acquired Securities to be issued and sold at each Closing by wire transfer of United
States dollars in immediately available funds to the account specified by the Company in the Closing Notice. 

  
 SIGNATURE
PAGE TO SUBSCRIPTION AGREEMENT 

			
	 SUBSCRIBER:
  

	Signature of Subscriber:

			
		
	By:	 	  /s/ Marcello Liguori

			
	Name: Marcello Liguori

			
	Title: Managing Director

			
		
	Date:	 	  November 18, 2020

	
	  
 Name of Subscriber:

Lombard International Life Ltd., on behalf of its Segregated Account BIGVA005

(Please print. Please indicate name and
 capacity of person
signing above)
  

	 Name in which shares are to be registered
 (if
different):

			
		
	Email Address:	 	  [***]

			
		
	Subscriber’s EIN:	 	  [***]

	
	  
 Business Address-Street:

[***]

[***]
 City, State, Zip:

 

	Attn: [***]

			
		
	Telephone No.:	 	  [***]

			
		
	Facsimile No.:	 	  [***]

			
		
	Jurisdiction of residency:	 	  [***]

 You must pay the Purchase Price for the Acquired Securities to be issued and sold at each Closing by wire transfer of United
States dollars in immediately available funds to the account specified by the Company in the Closing Notice. 

  
 SIGNATURE
PAGE TO SUBSCRIPTION AGREEMENT 

			
	 SUBSCRIBER:
  

	Signature of Subscriber:

			
		
	By:	 	  /s/ Marcello Liguori

			
	Name: Marcello Liguori

			
	Title: Managing Director

			
		
	Date:	 	  November 18, 2020

	
	  
 Name of Subscriber:

MSD SBAFLA Fund, L.P.
 (Please
print. Please indicate name and
 capacity of person signing above)

 

	 Name in which shares are to be registered
 (if
different):

			
		
	Email Address:	 	  [***]

			
		
	Subscriber’s EIN:	 	  [***]

	
	  
 Business Address-Street:

[***]

[***]
 City, State, Zip:

 

	Attn: [***]

			
		
	Telephone No.:	 	  [***]

			
		
	Facsimile No.:	 	  [***]

			
		
	Jurisdiction of residency:	 	  [***]

 You must pay the Purchase Price for the Acquired Securities to be issued and sold at each Closing by wire transfer of United
States dollars in immediately available funds to the account specified by the Company in the Closing Notice. 

  
 SIGNATURE
PAGE TO SUBSCRIPTION AGREEMENT 

 SCHEDULE A 
  

																							
	Subscriber	 	Address, Facsimile
Number
and E-mail	 	 	Number of Firm
Shares	 	 	Purchase Price
of Firm Shares	 	 	Number of
Additional
Shares, if full
amount
exercised	 	 	Purchase Price
of Additional
Shares, if full
amount
exercised	 	 	 Legal Representative’s Address,
Facsimile Number
and E-mail

	MSD SPECIAL
INVESTMENTS
FUND, L.P.	 	 
 
 

 

	c/o MSD Partners, L.P.
 [***]

[***]
 Attn: Marcello Liguori

F [***]
 E [***]
	 
  
  

 
  

 
	 	 	120,355	 	 	 	$12,035,455.37	 	 	 	51,580	 	 	 	$5,158,052.30	 	 	 Schulte Roth & Zabel LLP 919 Third Avenue New York, New York 10022
Attention: Eleazer Klein, Esq.

Facsimile: (212) 593-5955
Telephone: (212) 756-2376
E-mail: eleazer.klein@srz.com

							
	MSD SIF
HOLDINGS,
L.P. 	 	 
 
 

 

	c/o MSD Partners, L.P.
 [***]

[***]
 Attn: Marcello Liguori

F [***]
 E [***]
	 
  
  

 
  

 
	 	 	54,645	 	 	 	$5,464,544.63	 	 	 	23,419	 	 	 	$2,341,947.70	 	 	Schulte Roth & Zabel LLP 919 Third Avenue New York, New York 10022
Attention: Eleazer Klein, Esq.
Facsimile: (212) 593-5955
Telephone: (212) 756-2376
E-mail: eleazer.klein@srz.com
							
	MSD CREDIT
OPPORTUNITY
MASTER
FUND, L.P.	 	 
 
 

 

	c/o MSD Partners, L.P.
 [***]

[***]
 Attn: Marcello Liguori

F [***]
 E [***]
	 
  
  

 
  

 
	 	 	140,000	 	 	$	14,000,000.00	 	 	 	60,000	 	 	$	6,000,000.00	 	 	Schulte Roth & Zabel LLP 919 Third Avenue New York, New York 10022
Attention: Eleazer Klein, Esq.
Facsimile: (212) 593-5955
Telephone: (212) 756-2376
E-mail: eleazer.klein@srz.com
							
	MSD PRIVATE
CREDIT
OPPORTUNITY
MASTER FUND
2, L.P.	 	 
 
 

 

	c/o MSD Partners, L.P.
 [***]

[***]
 Attn: Marcello Liguori

F [***]
 E [***] 
	 
  
  

 
  

 
	 	 	269,455	 	 	$	26,945,515.78	 	 	 	115,481	 	 	$	11,548,078.19	 	 	Schulte Roth & Zabel LLP 919 Third Avenue New York, New York 10022
Attention: Eleazer Klein, Esq.
Facsimile: (212) 593-5955
Telephone: (212) 756-2376
E-mail: eleazer.klein@srz.com
							
	Lombard
International
Life Ltd., on
behalf of its
Segregated
Account
BIGVA005	 	 
 
 

 

	c/o MSD Partners, L.P.
 [***]

[***]
 Attn: Marcello Liguori

F [***]
 E [***]
	 
  
  

 
  

 
	 	 	38,539	 	 	$	3,853,878.56	 	 	 	16,517	 	 	$	1,651,662.24	 	 	Schulte Roth & Zabel LLP 919 Third Avenue New York, New York 10022
Attention: Eleazer Klein, Esq.
Facsimile: (212) 593-5955
Telephone: (212) 756-2376
E-mail: eleazer.klein@srz.com
							
	MSD SBAFLA
FUND, L.P.	 	 
 
 

 

	c/o MSD Partners, L.P.
 [***]

[***]
 Attn: Marcello Liguori

F [***]
 E [***]
	 
  
  

 
  

 
	 	 	77,006	 	 	$	7,700,605.66	 	 	 	33,003	 	 	$	3,300,259.57	 	 	Schulte Roth & Zabel LLP 919 Third Avenue New York, New York 10022
Attention: Eleazer Klein, Esq.
Facsimile: (212) 593-5955
Telephone: (212) 756-2376
E-mail: eleazer.klein@srz.com
							
	TOTAL	 				 	 	700,000	 	 	$	70,000,000	 	 	 	300,000	 	 	$	30,000,000	 	 	

  
 Schedule A-1 

 SCHEDULE B 

ELIGIBILITY REPRESENTATIONS OF U.S. SUBSCRIBERS 
  

	A.	 QUALIFIED INSTITUTIONAL BUYER STATUS 

(Please check the applicable subparagraphs): 

	 	1.	 ☒      We are a “qualified institutional buyer” (as defined in
Rule 144A under the Securities Act, a “QIB”). 

	 	2.	 ☐      We are subscribing for the Acquired Securities as a fiduciary or
agent for one or more investor accounts, and each owner of such account is a QIB. 

 ***OR*** 

 

	B.	 ACCREDITED INVESTOR STATUS 

(Please check the applicable subparagraphs): 

	 	1.	 ☐      We are an “accredited investor” (within the meaning of
Rule 501(a)(1), (2), (3) or (7) under the Securities Act or an entity in which all of the equity holders are accredited investors within the meaning of Rule 501(a)(1), (2), (3) or (7) under the Securities Act), and have marked and
initialed the appropriate boxes on the following page indicating all provisions under which we qualify as an “accredited investor.” 

	 	2.	 ☐      We are not a natural person. 

***AND*** 
  

	C.	 AFFILIATE STATUS 

(Please check the applicable box) 

SUBSCRIBER: 

	 	☐	 is: 

	 	☒	 is not: 

an “affiliate” (as defined in Rule 144) of the Company or acting on behalf of an affiliate of the Company. 

***AND*** 
  

	D.	 INSTITUTIONAL ACCOUNT STATUS 

(Please check the applicable box) 
  

	 	☒	 is: 

	 	☐	 is not: 

an “Institutional Account” (as defined in FINRA 4512(c)). 

This page should be completed by U.S. Subscribers 

and constitutes a part of the Subscription Agreement. 

  
 Schedule B-1 

 Rule 501(a), in relevant part, states that an “accredited investor” shall mean any person who
comes within any of the below listed categories, or who the issuer reasonably believes comes within any of the below listed categories, at the time of the sale of the securities to that person. Subscriber has indicated, by marking and initialing the
appropriate box below, the provision(s) below which apply to Subscriber and under which Subscriber accordingly qualifies as an “accredited investor.” 

☐ Any bank as defined in Section 3(a)(2) of the Securities Act, or any savings and loan association or other institution as defined in
Section 3(a)(5)(A) of the Securities Act whether acting in its individual or fiduciary capacity; 
 ☐ Any broker or dealer registered pursuant to
Section 15 of the Securities Exchange Act of 1934, as amended; 
 ☐ Any insurance company as defined in Section 2(a)(13) of the Securities
Act; 
 ☐ Any investment company registered under the Investment Company Act of 1940 or a business development company as defined in
Section 2(a)(48) of that Act; 
 ☐ Any Small Business Investment Company licensed by the U.S. Small Business Administration under
Section 301(c) or (d) of the Small Business Investment Act of 1958; 
 ☐ Any plan established and maintained by a state, its political
subdivisions, or any agency or instrumentality of a state or its political subdivisions for the benefit of its employees, if such plan has total assets in excess of $5,000,000; 

☐ Any employee benefit plan, within the meaning of ERISA, if a bank, insurance company, or registered investment adviser makes the investment decisions,
or if the plan has total assets in excess of $5,000,000; 
 ☐ Any private business development company as defined in Section 202(a)(22) of the
Investment Advisers Act of 1940; 
 ☒ Any organization described in Section 501(c)(3) of the Code, corporation, Massachusetts or similar business
trust, or partnership, not formed for the specific purpose of acquiring the securities offered, with total assets in excess of $5,000,000; or 
 ☐ Any
trust with assets in excess of $5,000,000, not formed to acquire the securities offered, whose purchase is directed by a sophisticated person. 

  
 Schedule B-2 

 SCHEDULE C 

DISCLOSURE OF REPORTABLE EVENTS 

Stifel, Nicolaus & Company, Incorporated 

On December 6, 2016, a final judgment (the “Judgment”) was entered against Stifel, Nicolaus & Company, Incorporated
(“Stifel”) by the United States District Court for the Eastern District of Wisconsin (Civil Action No. 2:11-cv-00755) resolving a civil lawsuit filed by
the SEC in 2011 involving violations of several antifraud provisions of the federal securities laws in connection with the sale of synthetic collateralized debt obligations to five Wisconsin school districts in 2006. 

As a result of the Judgment, (i) Stifel is required to cease and desist from committing or causing any violations and any future violations of
Section 17(a)(2) and 17(a)(3) of the Securities Act; and (ii) Stifel and a former employee were jointly liable to pay disgorgement and prejudgment interest of $2.5 million. Stifel was also required to pay a civil penalty of
$22.0 million, of which disgorgement and civil penalty Stifel was required to pay $12.5 million to the school districts involved in this matter. 

Simultaneously with the entry of the Judgment, the SEC issued an Order granting Stifel a waiver from, among other things, the application of the
disqualification provisions of Rule 506(d)(1)(iv) of Regulation D under the Securities Act. 
 Copies of the Judgment and Waivers are available on the
SEC’s website at: 
  

	 	•	 	 Judgment: https://www.sec.gov/litigation/litreleases/2016/lr23700-final-judgment.pdf. 

 

	 	•	 	 1933 Act Waivers: https://www.sec.gov/rules/other/2016/33-10263.pdf

  

	 	•	 	 1933 Act Waiver Request:
https://www.sec.gov/divisions/corpfin/cf-noaction/2016/stifel-nicolaus-120616-506d.pdf 

  
 Schedule C-1

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