Document:

EX-10.37

 Exhibit 10.37 
  

 
  

ADT INC. 
 AMENDED AND
RESTATED MANAGEMENT INVESTOR RIGHTS AGREEMENT 
 Dated as of December [●], 2017 

 
  

 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
			
	 Section 1.
	 	Definitions	  	 	1	 
	 Section 2.
	 	General Rule	  	 	8	 
	 Section 3.
	 	Procedures; Price	  	 	12	 
	 Section 4.
	 	Certain Dispositions	  	 	13	 
	 Section 5.
	 	Permitted Dispositions; Pledges; Voting Trusts	  	 	14	 
	 Section 6.
	 	Conditions; Additional Parties	  	 	16	 
	 Section 7.
	 	Restriction on Transfer	  	 	16	 
	 Section 8.
	 	Notices	  	 	18	 
	 Section 9.
	 	Repurchase Rights	  	 	19	 
	 Section 10.
	 	Piggy-Back Registration Rights	  	 	21	 
	 Section 11.
	 	Reserved	  	 	27	 
	 Section 12.
	 	Confidentiality	  	 	27	 
	 Section 13.
	 	Distributions in Connection with Merger or Qualified Public Offering; Cooperation with Qualified Public Offering Reorganization and SEC Filings	  	 	28	 
	 Section 14.
	 	Representations and Warranties	  	 	29	 
	 Section 15.
	 	Miscellaneous Provisions	  	 	29	 

  
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 This MANAGEMENT INVESTOR RIGHTS AGREEMENT is made as of December [●], 2017 (this
“Agreement”) among ADT Inc. (f/k/a Prime Security Services Parent, Inc.), a Delaware corporation (the “Company”), PRIME SECURITY SERVICES TOPCO PARENT, L.P., a Delaware limited partnership
(“TopCo Parent”) and the HOLDERS that are parties hereto. 
 WHEREAS, the Company and TopCo Parent
entered into the original Management Investor Rights Agreement of the Company on November 7, 2016 (such agreement, the “Original Agreement”); 

WHEREAS, on September 27, 2017, the Company filed with the Secretary of State of the State of Delaware a Certificate of Amendment
to the Amended and Restated Certificate of Incorporation of the Company, pursuant to which Certificate of Amendment the Company changed its name to “ADT Inc.”; 

WHEREAS, the Company and TopCo Parent deem it advisable and in the best interests of the Company and the Holders to amend and restate
the Original Agreement in its entirety as set forth herein; 
 WHEREAS, TopCo Parent and each Holder deem it to be in the best
interest of the Company, TopCo Parent and the Holders that provision be made for the continuity and stability of the business and policies of the Company, and, to that end, the Company, TopCo Parent and the Holders hereby set forth herein their
agreement with respect to the Common Stock owned by them. 
 NOW, THEREFORE, in consideration of the premises and of the mutual
consents and obligations hereinafter set forth, the parties hereto hereby agree as follows: 

Section 1.        Definitions. 

As used in this Agreement: 

“Adoption Agreement” has the meaning ascribed to such term in Section 6.1. 

“Affiliate” of any Person that is not a Holder means a Person that directly, or indirectly through one or more
intermediaries, controls, or is controlled by, or is under common control with, such Person. As used in this definition, the term “control,” including the correlative terms “controlling,” “controlled by” and “under
common control with,” means possession, directly or indirectly, of the power to direct or cause the direction of management or policies (whether through ownership of securities or any partnership or other ownership interest, by
contract or otherwise) of a Person. Notwithstanding the foregoing, except with respect to Sections 3.2, 4.1(a), 5.1(d), 5.1(e), 6.1, 6.2(b), 9.5, 12, 13.4, 15.19,
15.20, 15.22, the proviso to 5.1, the definitions of “Control Disposition”, “Subject Party”, and the phrase “any other Person that is affiliated with Apollo”, (a) the Company, its Subsidiaries and
their respective joint ventures shall not be considered Affiliates of TopCo Parent, AP VIII Prime Security, the Koch Equityholder or the Apollo Funds, (b) none of the Apollo Funds or TopCo Parent shall be considered an Affiliate of (i) any
portfolio company in which any Apollo Fund or any of its investment fund affiliates or TopCo Parent or the Koch Equityholder or their respective affiliates has made a debt or equity investment (and vice versa), (ii) any limited partners, non-managing members of, or other similar direct or indirect investors in any of the Apollo Funds, AP VIII 

  
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Prime Security, TopCo Parent, the Koch Equityholder or any of their respective affiliates (and vice versa) or (iii) any portfolio company in which any limited partner, non-managing member of, or other similar direct or indirect investor in the Apollo Funds, AP VIII Prime Security, TopCo Parent, the Koch Equityholder or any of their respective affiliates have made a debt or equity
investment (and vice versa), and none of the Persons described in clauses (i) through (iii) of this definition shall be considered an Affiliate of each other and (c) without giving effect to the exception set forth in the beginning of this
sentence, no Holder shall be considered an Affiliate of any Person described in clauses (a) and/or (b) of this definition (and vice versa). Notwithstanding anything to the contrary herein, to the extent that AGS would be considered an
“Affiliate” of the Apollo Funds, TopCo Parent, the Koch Equityholder or any of their respective Affiliates, AGS shall not be considered such an “Affiliate” of the Apollo Funds, TopCo Parent, the Koch Equityholder or any of their
respective Affiliates when AGS acts as a broker-dealer, underwriter, placement agent, initial purchaser, arranger or lender or in any similar role in the ordinary course of its business. 

“Affiliate” of a Holder means: (a) the spouse (not including a former spouse or a spouse from whom such Holder is
legally separated) and lineal descendants (including children by adoption and step children) of the Subject Party for an individual Holder, and in any such case, any trust formed in connection with the bona fide estate planning activities of the
Subject Party for such Holder: (i) the beneficiaries of which may only include the Subject Party for such Holder, and the spouse (not including a former spouse or spouse from whom such Holder is legally separated) and lineal descendants
(including children by adoption and step children) of the Subject Party and (ii) with respect to which such Subject Party is the sole trustee or custodian, and (b) any limited liability company or partnership: (i) with respect to
which at least eighty percent (80%) of the outstanding equity interests are beneficially solely owned by the Subject Party for such Holder, and/or the spouse (not including a former spouse or a spouse from whom such Holder is legally separated) and
lineal descendants (including children by adoption and step children) of the Subject Party, (ii) with respect to which the Subject Party, and/or the spouse (not including a former spouse or a spouse from whom such Holder is legally separated)
and lineal descendants (including children by adoption and step children) of the Subject Party, is the sole manager or managing member or general partner, as the case may be, and otherwise has the sole power to direct or cause the direction of
management and policies of such limited liability company or partnership, whether through the ownership of voting securities, by contract or otherwise and (iii) which is not formed for the purpose of circumventing the requirements of the
transfer restrictions set forth in this Agreement. 
 “Agreement” has the meaning ascribed to such term in the preamble.

 “AGS” means Apollo Global Securities, LLC, a Delaware limited liability company. 

“AP VIII Prime Security” means (i) AP VIII Prime Security Services Holdings, L.P., a Delaware limited partnership and/or
(ii) any Person organized or formed by any member of the Apollo Funds, AP VIII Prime Security Services Holdings, L.P. or one or more of their respective Affiliates for the purpose of holding securities or debt of TopCo Parent or any of its
Subsidiaries. 
 “Apollo Funds” mean, collectively, the investment funds managed, sponsored or advised by Apollo Management
VIII, L.P. or any of its Affiliates, including Apollo Investment Fund VIII, L.P., Apollo Overseas Partners VIII, L.P., Apollo Overseas Partners (Delaware) VIII, L.P. and Apollo Overseas Partners (Delaware 892) VIII, L.P. 

  
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 “Award” means an award of Options, restricted stock or restricted stock units
granted pursuant to the Company’s 2016 Equity Incentive Plan, or any other equity plan approved by the Company in respect of which the recipient is required to be joined to this Agreement as a Holder. 

“Award Shares” has the meaning ascribed to such term in Section 9.2. 

“Bad Leaver” means a Subject Party who experiences a Termination of Relationship as a result of the Subject Party’s
termination of employment or other service relationship by the Company or its Subsidiaries that is either (a) for Cause or (b) due to a material breach of any restrictive covenant applicable to such Subject Party. 

“Board” means the Board of Directors of the Company and any duly authorized committee thereof. All determinations by the
Board required pursuant to the terms of this Agreement to be made by the Board shall be binding and conclusive. 
 “Business
Day” shall mean any day that is not a Saturday, Sunday, legal holiday or other day on which commercial banks in New York, New York are authorized or required by applicable law to close. 

“Bylaws” means the Amended and Restated Bylaws of the Company (as the same may be amended and/or restated from time to time).

 “Cause” means, with respect to the Termination of Relationship of a Subject Party by the Company or any of its
Subsidiaries, (a) if such Subject Party is at the time of the Termination of Relationship a party to an employment, consultancy, directorship or similar services agreement with the Company or any of its Subsidiaries that defines such term (or a
similar term), the meaning ascribed to such term therein and (b) in all other cases, the Termination of Relationship of a Subject Party by the Company or any of its Affiliates based on (i) such Subject Party’s conviction of, or entry
of a plea of no contest to (x) a felony or (y) a misdemeanor involving moral turpitude (or the equivalent of a misdemeanor involving moral turpitude or a felony in a jurisdiction other than the United States), (ii) the Subject Party’s
gross negligence or willful misconduct, or a willful failure to attempt in good faith to substantially perform his or her duties (other than due to physical illness or incapacity), (iii) any finding by the Securities and Exchange Commission
pertaining to the Subject Party which, in the opinion of independent counsel selected by the Company, could reasonably be expected to impair or impede the Company’s ability to register, list, or otherwise offer its stock to the public, or
following any initial public offering, to maintain itself as a publicly traded company, (iv) the Subject Party’s material breach of a material provision of any employment or services agreement or any
non-competition, non-disclosure or non-solicitation agreement with the Company or any of its Subsidiaries, (v) the Subject
Party’s material violation of any written policies adopted by the Company governing the conduct of persons performing services on behalf of the Company, (vi) the obtaining by the Subject Party of any material improper personal benefit as a
result of a breach by the Subject Party of any covenant or agreement (including a breach by the Subject Party of the Company’s code of ethics or a material breach by the Subject Party of other written policies furnished to the Subject Party
relating to personal investment transactions) of which the Subject Party was or should have been aware, (vii) the Subject Party’s fraud or misappropriation, embezzlement or material misuse of funds or property belonging to the Company or
any of its Affiliates, (viii) the Subject Party’s use of alcohol or drugs that materially interferes with the performance of his or her duties, or (ix) willful or reckless misconduct in respect of the Subject Party’s obligations
to the Company or its Affiliates or other acts of misconduct by the Subject 

  
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Party occurring during the course of the Subject Party’s employment, which in either case results in or could reasonably be expected to result in material damage to the property, business or
reputation of the Company or its Affiliates. 
 “Certificate of Incorporation” means the Company’s Amended and
Restated Certificate of Incorporation (as the same may be amended and/or restated from time to time, including by virtue of any certificate of designation). 

“Common Stock” means: (a) all shares of the voting or non-voting common stock of
the Company and (b) all securities of the Company or any other Person which any Person acquires in respect of its Common Stock in connection with any exchange, merger, conversion, reclassification, recapitalization, consolidation,
reorganization or other transaction involving the Company or its securities. All references herein to Common Stock owned by a Holder include the community interest or similar marital property interest, if any, of the spouse of such Holder in such
Common Stock. The term “common stock” means any stock of any class of the Company which has no preference over any other class of equity securities of the Company in respect of dividends or of amounts payable in the event of any voluntary
or involuntary liquidation, dissolution or winding up of the Company and which is not subject by the terms of the Company’s Certificate of Incorporation to redemption by the Company (whether or not shares of such class have voting rights). 

“Company” has the meaning ascribed to such term in the preamble. 

“Competitor” has the meaning ascribed to such term in Section 4.1(b). 

“Control Disposition” means a Disposition (other than a Permitted Disposition) which would have the effect of transferring to
a Person or Group that is not an Affiliate of the Apollo Funds (a) a number of shares of Common Stock such that, following the consummation of such Disposition, such Person or Group possesses fifty percent (50%) or more of the outstanding
voting stock or equity securities of the Company or the voting power to elect a majority of the Board (whether by merger, consolidation or sale or transfer or otherwise) or (b) all or substantially all of the assets of the Company and its
Subsidiaries (on a consolidated basis). 
 “Disposition” means any transaction or series of related transactions resulting
in a direct or indirect transfer, assignment, sale, gift, pledge, hypothecation or other encumbrance, or any other disposition, whether by merger, consolidation or otherwise, of Common Stock (or any interest therein or right thereto) or of all or
part of the voting power (other than the granting of a revocable proxy) associated with the Common Stock (or any interest therein, including any right, option, profit participation, or other interest) whatsoever, or any other transfer of legal,
economic or beneficial ownership of Common Stock or any interest therein, whether voluntary or involuntary, including (a) as a part of any liquidation of a Holder’s assets or (b) as a part of any reorganization of a Holder pursuant to
the United States or other bankruptcy law or other similar debtor relief laws. The terms “Dispose”, “Disposing” or “Disposal” shall have correlative meanings. 

“Divorced Holder” has the meaning ascribed to such term in Section 2(b). 

“Divorced Spouse” has the meaning ascribed to such term in Section 2(b). 

“Eligible Offerees” means the Company and TopCo Parent. 

  
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 “Exchange Act” means the Securities Exchange Act of 1934. 

“Fair Market Value of the Common Stock” means the fair market value of a share of Common Stock as determined by the Board.

 “Good Leaver” means a Subject Party who experiences a Termination of Relationship as a result of (a) the Subject
Party’s death or disability or (b) for any reason not provided for in the definition of “Bad Leaver”. 

“Group” has the meaning ascribed thereto in Section 13(d)(3) of the Exchange Act. 

“Holder” means a holder of Common Stock who is or becomes, party to this Agreement, other than the Company, TopCo Parent and
the Koch Equityholder. For the avoidance of doubt, a holder of Common Stock shall be a Holder hereunder solely with respect to those shares of Common Stock acquired by such Holder in respect of which such Holder is required to be joined to this
Agreement. 
 “Koch Equityholder” means, collectively, Koch SV Investments, LLC, a Delaware limited liability company, in
its capacity as a holder of Preferred Stock, and any of its transferees, successors and/or assigns, insofar as they become holders of Preferred Stock, in the same capacity. 

“Management Shares” means all Common Stock that may be purchased by, transferred to, or are otherwise held by, any Holder
(whether pursuant to an Award, upon the exercise of an Option or otherwise), in respect of which the holder is required to be joined to this Agreement as a Holder. 

“Material Agreement” has the meaning ascribed to such term in Section 4.1. 

“New Equity Securities” has the meaning ascribed to such term in Section 13.2. 

“New Holdco” has the meaning ascribed to such term in Section 13.2. 

“Notice” has the meaning ascribed to such term in Section 4.1. 

“Offer” has the meaning ascribed to such term in Section 2(b), 2.2, 2.3, 2.4,
2.5 or 2.6, as applicable. 
 “Offeror” has the meaning ascribed to such term in
Section 2.5. 
 “Option” means an option to purchase or acquire Common Stock issued to Subject
Parties pursuant to the Prime Security Services Parent, Inc. 2016 Equity Incentive Plan, or any other equity plan implemented by the Company from time to time, that requires the recipient of such option to be joined to this Agreement as a Holder
upon the exercise thereof. 
 “Permitted Disposition” has the meaning described to such term in
Section 5.1. 
 “Person” means any legal person, including any individual, corporation,
investment fund, partnership, limited partnership, limited liability company, joint venture, joint stock company, association, trust, unincorporated entity or any domestic or foreign government 

  
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or political subdivision thereof, whether on a federal, state or local level and whether executive, legislative or judicial in nature, including any agency, authority, board, bureau, commission,
court, department or other instrumentality thereof. 
 “Piggy-Back Notice” has the meaning ascribed to such term in
Section 10.1. 
 “Piggy-Back Registration Right” has the meaning ascribed to such term in
Section 10.1. 
 “Preferred Stock” means (a) all shares of the voting or non-voting preferred stock of the Company and (b) all securities of the Company or any other Person which any Person acquires in respect of its Preferred Stock in connection with any exchange, merger,
conversion, reclassification, recapitalization, consolidation, reorganization or other transaction involving the Company or its securities. The term “preferred stock” means any stock of any class or series of the Company which has a
preference over any other class or series of equity securities of the Company in respect of dividends or of amounts payable in the event of any voluntary or involuntary equity distributions, dissolution or winding up of the Company and which is
subject by the terms of the Certificate of Incorporation to redemption by the Company. 
 “Public Sale” means any sale,
occurring simultaneously with or after an initial public offering, of Common Stock to the public pursuant to an offering registered under the Securities Act or to the public in the manner described by the provisions of Rule 144(f) under
the Securities Act. 
 “Purchase Price” means, for purposes of the purchase of Securities Subject to the Offer under
Sections 2(b), 2.2, 2.3, 2.4, or 2.5, and Common Stock purchased by a Divorced Holder or a Surviving Holder under Sections 2(b) or 2.2, an amount equal to the
Fair Market Value of the Common Stock as of the date of such purchase. 
 “Qualified Public Offering” means an underwritten
public offering of Common Stock by the Company (or any of its direct or indirect parent entities, any of its Subsidiaries or any successor thereof) pursuant to an effective Registration Statement filed by the Company with the Securities and Exchange
Commission (other than on Forms S-4 or S-8 or successors to such forms) under the Securities Act, pursuant to which the aggregate offering price of the Common Stock sold
in such offering is at least $100,000,000 and pursuant to which the Common Stock shall be listed on a U.S. nationally-recognized exchange or an internationally-recognized securities exchange (or on NASDAQ or a similar quotation system). 

“Receipt Notice” has the meaning ascribed to such term in Section 3.3. 

“Redeemed Holder” has the meaning ascribed to such term in Section 9.2. 

“Redeemed Securities” has the meaning ascribed to such term in Section 9.2. 

“Registrable Securities” has the meaning ascribed to such term in Section 10.10(a). 

“Registration Statement” means any registration statement of the Company filed with, or to be filed with, the Securities and
Exchange Commission under the rules and regulations promulgated under the Securities Act, including the related prospectus, amendments and supplements to such registration statement, including pre- and
post-effective amendments, and all exhibits and material incorporated by reference in such registration statement. 

  
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 “Related Parties” has the meaning ascribed to such term in
Section 15.20. 
 “Reorganization” has the meaning ascribed to such term in
Section 13.2. 
 “Repurchase Notice” has the meaning ascribed to such term in
Section 9.2. 
 “Repurchase Right” has the meaning ascribed to such term in
Section 9.2. 
 “Repurchase Termination Date” has the meaning ascribed to such term in
Section 9.5. 
 “securities” shall mean, with respect to any Person, all equity interests of such
Person, all securities convertible into, exercisable or exchangeable for equity interests of such Person, and all options, warrants, and other rights to purchase or otherwise acquire from such Person equity interests, including any equity
appreciation or similar rights, contractual or otherwise. 
 “Securities Act” means the Securities Act of 1933. 

“Securities Subject to the Offer” means: (a) with respect to an Offer required under
Section 2(b), all Common Stock transferred to or retained by or vested in the Divorced Spouse (defined therein) and not elected to be purchased by the Divorced Holder (as defined therein) within the time limits specified in
that section, and no others, (b) with respect to an Offer required under Section 2.2, all Common Stock vesting in or transferable to any heir or legatee of the deceased spouse other than the Surviving Holder (as
defined in that Section) and not elected to be purchased by the Surviving Holder within the time limits specified in that Section, and no others and (c) all Common Stock held by a Holder (other than Common Stock owned by the Apollo Funds, AP
VIII Prime Security or any other Person that is affiliated with Apollo) required to make an Offer under Sections 2.3, 2.4, 2.5 and 2.6, as applicable. 

“Subject Party” means (a) with respect to any Holder that is or was an employee, officer, consultant or director of the
Company or its Subsidiaries, such employee, officer, consultant or director and (b) with respect to any Holder that is not and was not an employee, officer, consultant or director of the Company or any of its Subsidiaries, the current or former
employee, officer, consultant or director of the Company or its Subsidiaries with respect to whom such Holder received Common Stock in accordance with and subject to the terms and conditions of this Agreement. Notwithstanding the foregoing, in no
event shall the Apollo Funds, the Koch Equityholder, AP VIII Prime Security, any TopCo Parent Director or any of their respective Affiliates be deemed a Subject Party for purposes of this Agreement. 

“Subsidiary” means each Person in which another Person owns or controls, directly or indirectly, capital stock or other
equity interests representing more than fifty percent (50%) in voting power of the outstanding capital stock or other equity interests. 

“Surviving Holder” has the meaning ascribed to such term in Section 2.2. 

  
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 “Termination of Relationship” means (a) if the Subject Party is an employee
of the Company or any Subsidiary, the termination of the Subject Party’s employment relationship with the Company or such Subsidiary for any reason, (b) if the Subject Party is a consultant or other independent contractor to the Company or
any Subsidiary, the termination of the Subject Party’s consulting or independent contractor relationship with the Company or such Subsidiary for any reason, and (c) if the Subject Party serves as a member of the board of directors (or
equivalent governing body) or as a director of any Subsidiary or Affiliate of the Company and is not an employee thereof, the termination of such service for any reason; provided, that there shall be no “Termination of Relationship”
in situations where the Subject Party, in agreement with the Company or its Subsidiaries, around the same time enters into a new employment or service agreement with the Company or any of its Subsidiaries or takes up a director mandate in the
Company or any of its Subsidiaries or continues another existing employment or service agreement or director mandate with/in the Company or any of its Subsidiaries. 

“TopCo Parent” means has the meaning ascribed to such term in the preamble. 

“TopCo Parent Agreement” means the Fourth Amended and Restated Limited Partnership Agreement of TopCo Parent, dated as of the
date hereof, by and among TopCo Parent, Prime Security Services TopCo Parent GP, LLC, as general partner, the limited partners as listed from time to time in the ledge maintained by TopCo Parent, and the warrantholders as listed from time to time in
the ledger maintained by TopCo Parent, as the same may be amended, restated and/or modified from time to time. 
 “TopCo Parent
Director” means any director of the Company or its Subsidiaries who is also a general partner, partner, managing director, manager, officer, director or principal of TopCo Parent or any Affiliate of TopCo Parent (including TopCo Parent GP).

 “TopCo Parent GP” means Prime Security Services TopCo Parent GP, LLC, a Delaware limited liability company. 

“Underwriters Lock-Up Period” has the meaning ascribed to such term in
Section 15.17. 
 “Underwritten Offering” has the meaning ascribed to such term in
Section 10.10(f). 
 Section 2.        General Rule. 

(a)        Without limiting Section 7, except as expressly
permitted by the terms and subject to the conditions of Sections 2, 3, 5, 9 and 10, no Holder shall make any Disposition, directly or indirectly, whether by merger, consolidation or otherwise,
through an Affiliate or otherwise, except for (i) Permitted Dispositions made in accordance with Section 5.1, and (ii) Dispositions approved by the Board (it being agreed that, for the avoidance of doubt, the
Board shall have no duty or obligation whatsoever to approve any Disposition). The preceding sentence shall apply with respect to all Common Stock held directly or indirectly at any time by a Holder (including to all Common Stock acquired upon the
exercise of any Award), regardless of the manner in which such Holder initially acquired Common Stock. Any attempt to effect a Disposition, directly or indirectly, not in compliance with this Agreement shall be null and void ab initio and neither
the Company nor any transfer agent shall register or otherwise give any effect in the Company’s stock records to such attempted Disposition. In the case of a Disposition or attempted Disposition

  
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contrary to the provisions of this Agreement, the parties engaged or attempting to engage in such Disposition shall indemnify and hold harmless the Company and each of the other Holders from all
losses that such indemnified person may incur (including any legal fees and expenses) in enforcing the provisions of this Agreement. In the event of a conflict between any provision of this Section 2 and
Section 9, the terms of Section 9 shall control. For the avoidance of doubt, offers pursuant to Sections 2(b), 2.2, 2.3, 2.4, 2.5 and 2.6 are subject in
all respects to the provisions of Section 3. 

(b)        In furtherance, and not in limitation, of
Section 2(a), no Disposition by a Holder shall become effective (i) unless prior written notice thereof has been delivered to the Board and the Board has consented to such Disposition (which, solely in the case of
Permitted Dispositions made in accordance with Section 5.1), shall not be unreasonably withheld, delayed or conditioned, (ii) unless such Disposition complies in all respects with this Agreement, and (iii) until
the transferee complies with the provisions of Section 6.1. 

(c)        Notwithstanding anything to the contrary set forth herein, no Disposition by
TopCo Parent is or shall be restricted pursuant to this Agreement. 
 2.1        Divorce of
Holder. 
 If the marital relationship of a Holder is terminated by divorce, and pursuant to such divorce, or any property settlement in
connection with such divorce, Common Stock, previously registered in the name of such Holder (the “Divorced Holder”) are transferred to, or a community property interest or similar marital property interest is retained by or vested
in, the spouse of the Divorced Holder (the “Divorced Spouse”), the Divorced Holder shall promptly notify the Company of such event. The Divorced Holder shall have the option to purchase all or any portion of the Divorced
Holder’s shares of Common Stock, that have been transferred to or which are retained by or vested in the Divorced Spouse by virtue of the divorce decree, property settlement, or by operation of the community property or similar marital property
laws for an amount equal to the Purchase Price, and the Divorced Spouse shall be obligated to sell such Common Stock, to the Divorced Holder for such Purchase Price. Such option must be exercised, and the purchase consummated, within sixty
(60) days after the Common Stock is transferred to or otherwise vested in or allowed to be retained by the Divorced Spouse. The option shall be exercised by the giving of written notice of exercise to the Divorced Spouse. The Divorced Holder
shall, within five (5) Business Days after the expiration of such sixty (60) day period, deliver written notice to the Company as to whether the Divorced Holder has purchased all or a portion of the Common Stock so transferred to or
otherwise vested in or retained by the Divorced Spouse. In the event such written notice states that the Divorced Holder has not purchased all such Common Stock, or no such notice is delivered to the Company within the time required, the Divorced
Spouse shall be deemed to have made an irrevocable offer (the “Offer”) of all such remaining Common Stock to the Eligible Offerees for an amount per share equal to the Purchase Price, and the Company shall (and is hereby authorized
by the Holders and their respective spouses to), within five (5) Business Days after (a) the receipt of such notice, if delivered within the time required or (b) if such notice is not delivered within the time required, the receipt by
the Company of evidence, satisfactory to it that the Divorced Holder did not exercise its option to purchase all or a portion of such Common Stock within such sixty (60) day period, deliver written notice of the Offer to the Eligible Offerees
stating all such Common Stock are Securities Subject to the Offer pursuant to this Section 2(b), and the date of such Offer shall be deemed to be the date such written notice of the Offer is so delivered by the Company.

  
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 2.2        Death of Spouse. 

If the spouse of a Holder dies, and all or any portion of the Common Stock registered in the name of such Holder (the “Surviving
Holder”) vests in or is transferable to any heir or legatee other than the Surviving Holder, the Surviving Holder shall promptly notify the Company of such event. The Surviving Holder shall have the option to purchase all of the Common
Stock vesting in or transferable to such heir or legatee for an amount equal to the Purchase Price, and such heir or legatee and the estate of the deceased spouse shall be obligated to sell such Common Stock to the Surviving Holder for such Purchase
Price. Such option must be exercised, and the purchase consummated, within one hundred fifty (150) days after the last to occur of (a) the entry of an order of a probate, notary public or similar court (having jurisdiction over the estate
of the deceased spouse) (i) admitting to probate the will of the deceased spouse or (ii) determining the heirs of the deceased spouse if the deceased spouse is determined to have died intestate or (b) the appointment of the executor,
administrator or legal representative of the estate of the deceased spouse. The option shall be exercised by the giving of written notice of exercise to the executor, administrator or legal representative of the deceased spouse’s estate. The
Surviving Holder shall, within five (5) days after the expiration of such one hundred fifty (150) day period, deliver written notice to the Company as to whether the Surviving Holder has purchased all of the Common Stock vesting in or
transferable to any such heir or legatee. In the event such written notice states that the Surviving Holder has not purchased all such Common Stock, or no such notice is delivered to the Company within the time required, all such heirs and legatees
shall be deemed to have made an irrevocable Offer (the “Offer”) of such remaining Common Stock to the Eligible Offerees for an amount per share equal to the Purchase Price, and the Company shall (and is hereby authorized by the
Holders and their respective spouses, heirs and legatees to), within five (5) Business Days after (x) the receipt of such notice, if delivered within the time required or (y) if such notice is not given within the time required, the
receipt by the Company of evidence satisfactory to it that the Surviving Holder did not exercise its option to repurchase such remaining Common Stock within such one hundred fifty (150) day period, deliver written notice of the Offer to the
Eligible Offerees stating that all such Common Stock are Securities Subject to the Offer pursuant to this Section 2.2, and the date of such Offer shall be deemed to be the date such written notice of the Offer is so
delivered by the Company. 
 2.3    Bankruptcy. 

If any of the following events occurs: 

(a)        Any Holder shall (i) voluntarily be adjudicated as bankrupt or
insolvent, (ii) consent to or not contest the appointment of a receiver or trustee for himself, herself or itself for all or any part of his, her or its property, (iii) file a petition seeking relief under the bankruptcy, rearrangement,
reorganization or other debtor relief laws of the United States or any state or any other competent jurisdiction or (iv) make a general assignment for the benefit of his, her or its creditors; or 

(b)        If (i) a petition is filed against a Holder seeking relief under the
bankruptcy, rearrangement, reorganization or other debtor relief laws of the United States or any state or other competent jurisdiction or (ii) a court of competent jurisdiction enters an order, judgment or decree appointing a receiver

  
 10 

 
or trustee for a Holder, or for any part of his, her or its property, and such petition, order, judgment or decree shall not be and remain discharged or stayed within a period of sixty
(60) days after its entry; 
 then any such event shall be deemed an irrevocable “Offer” to sell such Common Stock to the Eligible
Offerees for an amount per share equal to the Purchase Price, and such Holder shall within five (5) Business Days from such event notify the Company in writing of such event, and the Company shall, within five (5) Business Days from
receipt thereof (or, if no such notice is delivered to the Company by the Holder, within five (5) Business Days from the Company’s receipt of evidence, satisfactory to it, of any of the foregoing events), deliver written notice of the
Offer to the Eligible Offerees stating that all of the Common Stock registered in the name of such Holder are Securities Subject to the Offer pursuant to this Section 2.3. The date of such Offer shall be deemed to be the
date such written notice of the Offer is so delivered by the Company. 
 2.4        Death of
Holder. 
 If a Holder dies and the Common Stock previously registered under the name of such Holder vests in or is transferable to any
of the Holder’s heirs or legatees, then such heir or legatee (or its representative) shall within five (5) Business Days from such event notify the Company in writing thereof, and shall have the option of becoming a Holder under this
Agreement by notifying the Company of its intention to retain all or a portion of such Common Stock and completing and executing an Adoption Agreement as referred to in Section 6.1, executing any required joinder and
otherwise complying with the requirements set forth herein. In the event such written notice states that the heir or legatee does not intend to retain all of the Common Stock, or no such notice is delivered to the Company within the time required,
all such heirs and legatees shall be deemed to have made an irrevocable “Offer” of such Common Stock to the Eligible Offerees for an amount per share equal to the Purchase Price, and the Company shall, within five (5) Business
Days from receipt of such notice (or if no such notice is delivered to the Company, within five (5) Business Days from the Company’s receipt of evidence satisfactory to it, of any of the foregoing events) of such Offer deliver a written
notice of the Offer to the Eligible Offerees stating that all such Common Stock are Securities Subject to the Offer pursuant to this Section 2.4. The date of such Offer shall be deemed to be the date on which such written
notice is so delivered by the Company. 
 2.5        Indirect Transaction. 

In the event of a transaction involving a change of ownership interest or voting power of a Holder which avoids or has the effect of avoiding
the restrictions on Dispositions provided in this Section 2, such transaction shall be deemed a Disposition by such Holder and an irrevocable “Offer,” and such Holder (“Offeror”) shall
promptly notify the Company of such event and Offer, by written notice to the Company, to sell all Securities Subject to the Offer to the Eligible Offerees for an amount per share equal to the Purchase Price. Offers under this
Section 2.5 shall (a) be in writing, (b) be irrevocable for so long as any Eligible Offeree has the right to purchase any Securities Subject to the Offer, (c) be sent by the Offeror to the Company and
(d) contain a description of the proposed transaction and change of ownership interest or voting power. The Company shall, within five (5) Business Days from receipt thereof (or, if no such written notice is delivered to the Company by the
Holder, within five (5) Business Days from the Company’s receipt of evidence, satisfactory to it, of such a Disposition by the Offeror), deliver written notice of the Offer to the Eligible Offerees stating that all Common Stock registered
in the name of such Holder are Securities Subject to the Offer Pursuant to this Section 2.5. The date of such Offer shall be deemed to be the date such written notice of the Offer is so delivered by the Company. 

  
 11 

 2.6    Right of First Refusal. 

In the event that a Holder shall have received a bona fide offer or offers from a third-party or parties to purchase any portion of the Common
Stock held by such Holder, and the Disposition shall have received the prior written consent of TopCo Parent and the Company in accordance with this Section 2, prior to selling any Common Stock to the third-party or
parties, such Holder shall promptly deliver to the Company in writing a notice of the proposed transaction (the “Offer”) setting forth in reasonable detail (a) a description of the proposed transaction and proposed purchaser,
(b) the number of Securities Subject to the Offer and the form and amount of consideration therefor and (c) any and all other material terms and conditions of the Offer. The Company shall, within five (5) Business Days from receipt
thereof, deliver written notice of the Offer to the Eligible Offerees stating the terms and conditions of such Offer, including the number of shares of Common Stock that are Securities Subject to the Offer pursuant to this
Section 2.6, and the date of such Offer shall be deemed to be the date such written notice of the Offer is so delivered by the Company. Upon receipt of such Offer, the Eligible Offerees shall have the right to elect to
purchase the Securities Subject to the Offer in accordance with the provisions of Section 3. 

Section 3.        Procedures; Price. 

3.1        Eligible Offerees. 

The Eligible Offerees shall have the right, for sixty (60) days following the date of an Offer, to accept the Offer as to all or any
Securities Subject to the Offer. The Eligible Offerees that accept the Offer shall agree in advance on the allocation of the Securities Subject to the Offer among the accepting Eligible Offerees. If the Company shall not have sufficient funds
available to permit it lawfully to purchase Securities Subject to the Offer which the Company has accepted in whole or in part, the Holders shall, promptly upon the request of the Company, take such action to vote their respective shares to reduce
the stated capital of the Company to the extent permitted by law or to authorize such other steps as may be appropriate or necessary in order to enable the Company, if possible, lawfully to purchase such Securities Subject to the Offer. 

3.2        Certain Effects of Offers. 

Subject to the terms and conditions of Section 6.2, unless otherwise waived by the Board in its sole discretion, all
Common Stock transferred by a Holder in accordance with the terms and subject to the conditions of this Agreement and any other agreement imposing restrictions on transfer and ownership to which such Holder is a party from time to time to any third
party or to any Eligible Offeree (other than (x) a transferee described in Section 5.1(a), (c), (d) and/or (e) or (y) the Company, TopCo Parent or any of their respective Affiliates), and all
Securities Subject to the Offer under Sections 2(b) through 2.6 (unless acquired by the Company, TopCo Parent or any of their respective Affiliates), shall remain subject to the terms and conditions of this
Agreement. 

  
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 3.3        Acceptance; Closing. 

If an Eligible Offeree (other than the Company) accepts an Offer as to all or any portion of the Securities Subject to the Offer, it shall
evidence its acceptance by delivering to the Company a written notice of intent to purchase such Securities Subject to the Offer. The Company shall, in turn, promptly notify in writing any Holder or any other party required to sell Securities
Subject to the Offer of the receipt of such notices (“Receipt Notice”). The Company shall accept an Offer as to the Securities Subject to the Offer by promptly notifying the Holder or any other party required to sell Securities
Subject to the Offer of such acceptance, and such notice by the Company shall be deemed a Receipt Notice. The closing of the acquisitions of Securities Subject to the Offer by Eligible Offerees shall be consummated within ninety (90) days
following the delivery of the Receipt Notice. In the case of all acquisitions of Securities Subject to the Offer by Eligible Offerees such acquisitions shall be consummated at a closing held at the principal offices of the Company (unless otherwise
mutually agreed), at which time the Purchase Price shall be delivered to the transferor of the Common Stock or the transferor’s representative, and the transferor or the transferor’s representative shall deliver to the Eligible Offerees
purchasing such shares the certificates representing the Securities Subject to the Offer so purchased, duly endorsed for transfer or accompanied by duly executed stock powers or assignment forms, or in the event any such certificates are alleged to
have been lost, stolen or destroyed, an affidavit of lost, stolen or destroyed certificates to be delivered to the Company in a form reasonably satisfactory to the Company (including, if so requested, a bond in customary amount), and evidence of
good title to the Securities Subject to the Offer so purchased and the absence of liens, encumbrances and adverse claims with respect thereto and such other matters as are deemed necessary by the Company for the proper transfer of the Securities
Subject to the Offer so purchased to the acquiring Eligible Offerees on the books of the Company. 

3.4        Form of Payment. 

The Purchase Price for all Securities Subject to the Offer pursuant to an Offer made under Sections 2(b) through
2.6, as applicable, shall be paid in cash in immediately available funds. Notwithstanding anything to the contrary, for the avoidance of doubt, Common Stock purchased by Eligible Offerees shall be purchased for an amount equal to the Purchase
Price. 
 Section 4.        Certain Dispositions. 

4.1        Loan and Other Agreements; Certain Restrictions. 

(a)        Notwithstanding anything in this Agreement to the contrary, without
limitation and in furtherance of the general restriction on Dispositions in Section 2, no Holder shall make any Disposition (including a Disposition pursuant to Section 2, 4 or 5 (other than
pursuant to Section 5.1(a)) that, in the Company’s sole judgement, would cause a breach or default or acceleration of payments under any loan agreement, note, indenture or other agreement or instrument to which the
Company and/or its Affiliates are a party and under which the indebtedness or liability of the Company and/or its Affiliates exceeds $2,000,000 (“Material Agreement”), unless the Board approves the transfer in writing in advance of
such Disposition. Therefore, each Holder desiring or required to make a Disposition shall, prior to attempting to effect any such Disposition, (i) give written notice (“Notice”) to the Board and the Company describing the
proposed Disposition and the proposed transferee in sufficient 

  
 13 

 
detail, setting forth the number of shares of Common Stock as to which such Holder desires to make a Disposition; and (ii) provide such other information concerning the proposed Disposition
as the Board or the Company requests. If, in the Board’s judgment, the proposed Disposition would cause a breach or default or acceleration of payments under any Material Agreement, then such Disposition may not be made, and any attempted
Disposition shall be null and void ab initio and of no force and effect. If the Board approves such Disposition and any shares of Common Stock with respect to which approval has been given are not actually transferred within the
relevant time period provided in the applicable provisions of this Agreement, then all of the provisions of this Agreement shall apply to any subsequent transaction affecting such Common Stock (except as expressly excluded by the other terms of this
Agreement). Additionally, all Common Stock transferred (whether to a third-party or any Holder) pursuant to a Disposition complying with the terms of this Section 4 (other than a Disposition to (x) a transferee
described in Section 5.1(a), (c), (d) and/or (e) or (y) the Company, TopCo Parent or their respective Affiliates) shall remain subject to the terms and conditions of this Agreement, and no
Disposition may be effected unless and until the transferee has in accordance with the terms and conditions of this Agreement, agreed to be bound by the terms and conditions of this Agreement, including by executing any required joinder and an
Adoption Agreement. 
 (b)        Notwithstanding anything in this Agreement to the
contrary, without the Board’s prior written consent, no Holder shall make any Disposition (including a Disposition pursuant to Section 2, 4 or 5 (other than pursuant to Section 5.1(a))
to any Person that, in the judgement of the Board, (i) is an actual or known potential competitor of the Company or any of its Affiliates, (ii) is known to be adverse, or to have interests adverse, to the interests of the Company or any of
its Affiliates as a result of a current or former litigation, arbitration, dispute or claim (each of clauses (i) and (ii), a “Competitor”) or (iii) is known to hold (directly or indirectly) more than a five percent (5%)
ownership interest in any Competitor. 
 Section 5.        Permitted Dispositions; Pledges;
Voting Trusts. 
 5.1        Permitted Dispositions. 

The following Dispositions shall be permitted without compliance with the provisions of Section 2 through 4
(each a “Permitted Disposition”): 
 (a)        by any Holder, in
the case of Common Stock, with respect to a Public Sale in connection with the exercise of Piggy-Back Registration Rights in accordance with Section 10; 

(b)        by any Holder who is an individual or a trust, a Disposition (i) to a
trust or estate planning-related entity for estate planning purposes, (ii) to an Affiliate of such Holder controlled by such Holder (or by such Holder’s grantor) or (iii) in the case of such Holder’s (or in the case of a trust,
the grantor’s) death, by will, the laws of intestate succession or in accordance with the applicable trust instrument to executors, administrators, testamentary trustees, legatees or beneficiaries of such Holder; 

  
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 (c)        any Disposition to the
Company; 
 (d)        (i) any Disposition by TopCo Parent to (x) one or more of
its Affiliates or (y) any one, certain of or all current or prospective members, partners or other direct or indirect equity holders (as applicable) of AP VIII Prime Security (or one or more Affiliates of any such member(s), partner(s) or other
direct or indirect equity holders(s) (as applicable)) or other direct or indirect holders of securities of TopCo Parent, (ii) any direct or indirect issuance of securities of TopCo Parent, (iii) any direct or indirect issuance of Common
Stock to TopCo Parent, or (iv) any “Permitted Transfer” (as defined in the TopCo Parent Agreement); and 

(e)        by any Holder during such Holder’s lifetime to such Holder’s
Affiliates; provided that the Board has first provided its written consent to such Disposition; 
 provided, however, that, unless
otherwise waived by the Board in its sole discretion, as a condition to any such Permitted Disposition, any Person (including such Person’s spouse, if any), other than (x) the Company, TopCo Parent, AP VIII Prime Security or their
respective Affiliates, (y) any Person to whom TopCo Parent, AP VIII Prime Security or their respective Affiliates has Disposed of Common Stock or (z) any other transferee or recipient of securities described in clauses (a), (c), (d) and/or
(e) of this Section 5.1, so acquiring such Common Stock from a Holder shall be required to become a party to and be bound by this Agreement, shall be required to subject the Common Stock acquired by such Person to the
provisions of this Agreement, and thereafter any such Person shall be deemed a “Holder” for the purposes of this Agreement. 

5.2        Pledges, etc. 

(a)        Unless approved by the Board, no Holder shall pledge or grant any lien or
encumbrance over, any Common Stock held by it, unless such pledge, lien or encumbrance is made by such Holder to the Company. 

(b)        A breach by any Holder of the covenants contained in this
Section 5.2 shall not relieve or waive the obligations of all other Holders to comply with such covenants. 

5.3        Voting Trusts, etc. 

No Holder shall grant any proxy or enter into or agree to be bound by any voting trust, voting agreement or other obligation with respect to
any Common Stock or enter into any agreements or arrangements of any kind with any Person with respect to any Common Stock that are inconsistent with or that could reasonably be expected to be inconsistent with the provisions of this Agreement,
including agreements or arrangements with respect to the acquisition, Disposition, ownership or voting (if applicable) of any Common Stock, nor shall any Holder act, for any reason, as a member of a group or in concert with any other Persons in
connection with the acquisition, Disposition or voting (if applicable) of any Common Stock in any manner which is inconsistent with or that could reasonably be expected to be inconsistent with the provisions of this Agreement. 

  
 15 

 Section 6.        Conditions; Additional
Parties. 
 6.1        Conditions to Permitted Transfers. 

Unless otherwise waived by the Board in its sole discretion, as a condition to the Company’s obligation to effect a Disposition permitted
by this Agreement on the books and records of the Company, any transferee of Common Stock (other than (x) a transferee described in Section 5.1(a), (c), (d) and/or (e) or (y) the Company, TopCo Parent or their
respective Affiliates) shall be required to (a) become a party to this Agreement by executing an Adoption Agreement in substantially the form of Exhibit A (or in such other form that is satisfactory to the Board) (an “Adoption
Agreement”), (b) if such transferee is a natural person, cause his or her spouse (and any subsequent spouse), to execute and deliver a Spousal Consent or, if unmarried, to personally execute and deliver a Spousal Consent, in each case
substantially in the form of Exhibit C attached hereto or in a form otherwise satisfactory to the Board and (c) execute such further documents as may be necessary, in the sole judgement of the Board. 

6.2        Additional Parties. 

(a)        Unless otherwise waived by the Board in its sole discretion, any Person
which acquires any Common Stock subsequent to the execution of this Agreement (other than (x) a transferee described in Section 5.1(a), (c), (d) and/or (e) or (y) the Company, TopCo Parent or their respective
Affiliates) shall become a party to this Agreement upon executing (together with such Person’s spouse, if any) an Adoption Agreement in substantially the form of Exhibit A (or in such other form that is satisfactory to the Board) and
such further documents as may be necessary, in the sole judgement of the Board. 

(b)        Unless otherwise waived by the Board in its sole discretion, in the event
that any Person acquires Common Stock from (i) a Holder or any of its Affiliates or a member of such Holder’s Group or (ii) any direct or indirect transferee of a Holder, including pursuant to any Disposition contemplated by
Section 5.1 of this Agreement (other than Section 5.1(a)), such Person shall be subject to any and all obligations and restrictions of the Holder (for whom the shares of Common Stock were
purchased) hereunder, as if such Person was such Holder named herein, including the obligation to make an Offer to Eligible Offerees pursuant to Section 2.4 upon the death of the Holder (from whom the shares of Common Stock
were purchased). Additionally, whenever a Holder makes a transfer of Common Stock, including pursuant to any Disposition contemplated by Section 5.1 of this Agreement (other than Section 5.1(a)),
unless otherwise waived by the Board in its sole discretion, such shares shall contain a legend so as to inform any transferee that such shares were held originally by a Holder and are subject to repurchase upon the death of such Holder. Such legend
shall not be placed on any shares of Common Stock acquired from a Holder by the Company, TopCo Parent, AP VIII Prime Security, the Apollo Funds or any of their respective Affiliates. 

Section 7.        Restriction on Transfer. 

7.1        Each Holder acknowledges that its Common Stock has not been registered under the Securities
Act and as such its Common Stock may not be transferred except pursuant to an effective Registration Statement under the Securities Act or pursuant to an 

  
 16 

 
exemption from registration under the Securities Act. Each Holder agrees that it will not make any Disposition at any time if such action would or would be likely to (a) constitute a
violation of any securities laws of any applicable jurisdiction or a breach of the conditions to any exemption from registration of Common Stock under any such laws or a breach of any undertaking or agreement of such Holder entered into pursuant to
such laws or in connection with obtaining an exemption thereunder, (b) cause the Company to become subject to the registration requirements of the U.S. Investment Company Act of 1940 or (c) be a
non-exempt “prohibited transaction” under ERISA or Section 4975 of the Code or cause all or any portion of the assets of the Company to constitute “plan assets” for purposes of
fiduciary responsibility or prohibited transaction provisions of Title I of ERISA or Section 4975 of the Code. 

7.2        To the extent certificated, each certificate representing Common Stock (if any) or other
instrument (including a statement issued by the registrar in connection with a book-entry system) representing Common Stock shall (unless otherwise permitted by the provisions of Section 7.4 below) be stamped or otherwise
imprinted with a legend in substantially the following form: 
 “THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE BEEN ACQUIRED
FOR INVESTMENT AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR UNDER THE SECURITIES LAWS OF ANY STATE OR JURISDICTION. THE SECURITIES REPRESENTED BY THIS CERTIFICATE MAY
NOT BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR AN EXEMPTION THEREFROM UNDER THE ACT AND APPLICABLE STATE SECURITIES LAWS. ANY OFFER, SALE, ASSIGNMENT, TRANSFER OR
OTHER DISPOSITION OF THESE SECURITIES IN A TRANSACTION THAT IS NOT REGISTERED UNDER THE ACT IS SUBJECT TO THE COMPANY’S RIGHT TO REQUIRE DELIVERY OF AN OPINION OF COUNSEL TO THE EFFECT THAT ANY PROPOSED TRANSFER OR RESALE IS IN
COMPLIANCE WITH THE ACT AND ANY APPLICABLE STATE SECURITIES LAWS. 
 THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE ALSO SUBJECT
TO AN AMENDED AND RESTATED MANAGEMENT INVESTOR RIGHTS AGREEMENT, DATED AS OF DECEMBER [●], 2017, AMONG THE ISSUER OF SUCH SECURITIES (THE “COMPANY”), AND THE OTHER PARTIES NAMED THEREIN, AS
THE SAME MAY BE AMENDED, RESTATED, MODIFIED OR SUPPLEMENTED FROM TIME  

  
 17 

 
TO TIME. THE TERMS OF SUCH AMENDED AND RESTATED MANAGEMENT INVESTOR RIGHTS AGREEMENT INCLUDE, AMONG OTHER THINGS, RESTRICTIONS ON TRANSFER AND OWNERSHIP OF THE SECURITIES REPRESENTED HEREBY. A
COPY OF SUCH AGREEMENT WILL BE FURNISHED WITHOUT CHARGE BY THE COMPANY TO THE HOLDER HEREOF UPON WRITTEN REQUEST.” 

7.3        Each Holder by acceptance thereof agrees, prior to any Disposition, to give written notice
to the Company of such Holder’s intention to effect such Disposition and to comply in all other respects with the terms and conditions of this Agreement. Each such notice shall describe the manner and circumstances of the proposed Disposition.
Upon request by the Company, the Holder delivering such notice shall deliver a written opinion, addressed to the Company, of counsel for such Holder, stating that in the opinion of such counsel (which opinion and counsel shall be satisfactory to the
Company) such proposed Disposition of shares by such Holder does not involve a transaction requiring registration or qualification of such shares under the Securities Act. Such Holder shall be entitled to transfer such shares in accordance with the
terms of the notice delivered to the Company only and to the extent that the Board consents in writing in advance of such transfer, except as permitted pursuant to Section 5.1. Each certificate or other instrument
evidencing the securities issued upon the transfer of any Common Stock shall bear the legend set forth in Section 7.2 above unless (a) in such opinion of counsel to the Holder of such shares (which opinion and counsel
shall be acceptable to the Company) registration of any future transfer is not required by the applicable provisions of the Securities Act or (b) the Company shall have waived the requirement of such legends. 

7.4        Notwithstanding the foregoing provisions of this Section 7, the
restrictions imposed by this Section upon the transfer and ownership of any Common Stock shall cease and terminate when (a) any such shares are sold or otherwise disposed of (i) pursuant to an effective Registration Statement under the
Securities Act or (ii) in a transaction contemplated by Section 7.3 above which does not require that the shares so transferred bear the legend set forth in Section 7.2 hereof or (b) the
holder of such shares has met the requirements for transfer of such shares under Rule 144 under the Securities Act (subject to the delivery of opinions as set forth above). 

Section 8.        Notices. 

In the event a notice or other document is required to be sent hereunder to the Company, TopCo Parent or to any Holder or the spouse or legal
representative of a Holder, such notice or other document, if sent by mail, shall be sent by registered mail, return receipt requested (and by air mail in the event the addressee is not in the continental United States), to the party entitled to
receive such notice or other document at the address set forth on Annex I hereto. Any such notice shall be effective and deemed received three (3) days after proper deposit in the mails, but actual notice shall be effective however and
whenever received. The Company, TopCo Parent or any Holder or spouse or their respective legal representatives may effect a change of address for purposes of this Agreement by giving notice of such change to the Company, and the Company shall, upon
the request of any party hereto, notify such party of such change in the manner provided herein. Until such notice of change of address is properly given, the addresses set forth herein shall be effective for all purposes. Notwithstanding the
foregoing, each Holder 

  
 18 

 
acknowledges and agrees that any notice required or permitted by this Agreement or under the Certificate of Incorporation, the Bylaws, the Delaware General Corporation Law or other applicable law
may be given to such Holder at the electronic mail address set forth on Annex I hereto. Each Holder further agrees to notify the Company of any change to such Holder’s electronic mail address and that the provision of such notice to the
Company shall constitute the consent of such Holder to receive notice at such electronic mail address. In the event that the Company is unable to deliver notice to such Holder at the electronic mail address so provided by such Holder, such Holder
shall, within two (2) Business Days after a request by the Company, provide the Company with a valid electronic mail address to which such Holder consents to receive notice at such electronic mail address. 

Section 9.        Repurchase Rights. 

9.1        Except as otherwise agreed by the Company in writing, including pursuant to an applicable
award agreement or an employment agreement, following a Subject Party’s Termination of Relationship for any reason, each Award held by such Subject Party that remains unvested pursuant to the terms of the award agreement on the date of notice
of such Termination of Relationship shall be automatically forfeited without the need for any further action by any Person, together with the right to receive any payments that would have been payable thereon. 

9.2        Following a Subject Party’s Termination of Relationship for any reason, the Company
or its designee (including TopCo Parent) shall have the right (the “Repurchase Right”), but not the obligation, upon delivery of a written notice (a “Repurchase Notice”) to such Subject Party and any transferee of
such Subject Party to whom such Subject Party has transferred Common Stock hereunder (collectively, the “Redeemed Holder”), within one (1) year after the later of (i) such Subject Party’s date of Termination of
Relationship and (ii) the date such Subject Party exercises any Award that is vested (but unexercised) on or becomes vested after such Subject Party’s date of Termination of Relationship (the “Repurchase Termination
Date”), to repurchase all or any portion of the Redeemed Holder’s shares of Common Stock issued pursuant to an Award (“Award Shares”) that have not been forfeited pursuant to Section 9.1 as of
such date of Termination of Relationship (the “Redeemed Securities”). 

9.3        Except as otherwise agreed to by TopCo Parent in writing, if the Company or its designee
elects to exercise its Repurchase Right, the repurchase price for Redeemed Securities shall be determined as set forth below: 

(a)        If the Subject Party was deemed a Good Leaver, all of the Redeemed
Securities may be repurchased for an amount equal to the Fair Market Value of the Common Stock determined as of the date of delivery of the Repurchase Notice; and 

(b)        If the Subject Party was deemed a Bad Leaver, then (i) no consideration
shall be paid by the Company or its designee to repurchase Redeemed Securities that are unvested Award Shares and (ii) all other Redeemed Securities can be repurchased for the lesser of (x) the price paid by the Subject Party for such
Redeemed Securities and (y) an amount equal to the Fair Market Value of the Common Stock as of the date of delivery of the Repurchase Notice. 

  
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 9.4        The aggregate repurchase price for Redeemed
Securities repurchased pursuant to this Section 9 shall be paid in cash in a single lump sum payment at the closing of such repurchase. 

9.5        At least two (2) Business Days before the Repurchase Termination Date, the Company or
its applicable Subsidiary shall give written notice to TopCo Parent stating whether it will exercise the Repurchase Right. If such notice states that the Company and its Subsidiaries will not exercise the Repurchase Right, TopCo Parent or any of its
Affiliates shall have the right to purchase the Redeemed Securities on the same terms and conditions as the Company and its Subsidiaries until the later of (i) the 30th day following the
receipt of such notice or (ii) the Repurchase Termination Date. For the avoidance of doubt, in the event that any Redeemed Securities are involuntarily transferred in accordance with Section 2 of this Agreement prior
to the exercise of the Repurchase Right pursuant to this Section 9.5, such Redeemed Securities shall be subject to the repurchase provisions of Section 2 of this Agreement. 

9.6        The closing of the purchase of the Redeemed Securities pursuant to this
Section 9 shall take place on a date designated by the Company or TopCo Parent, as applicable; provided, that the Company or TopCo Parent may, to the fullest extent permitted by law, defer the closing of the
repurchase beyond such date. Notwithstanding anything herein to the contrary, including any deferral of the closing of any repurchase pursuant to this Section 9, the repurchase of the Redeemed Securities shall, to the
fullest extent permitted by law, be deemed effective, and the Subject Party shall cease to have any rights with respect thereto (other than the right to receive the repurchase price determined pursuant to Section 9.3)
immediately upon delivery of the Repurchase Notice. 
 9.7        In the event that Redeemed
Securities are purchased pursuant to this Section 9, the Redeemed Holder, and such Person’s successors, assigns or representatives, will take all steps necessary and desirable to obtain all required third-party,
governmental and regulatory consents and approvals and take all other actions necessary and desirable to facilitate consummation of such repurchase in a timely manner. 

9.8        The Company or its designee purchasing the Redeemed Securities will pay for the Redeemed
Securities purchased pursuant to this Section 9 by delivery of a check or wire transfer of funds, in exchange for the delivery by the Redeemed Holder of the certificates representing such Common Stock duly endorsed for
transfer to the Company or its designee, as applicable, accompanied by duly executed stock powers or assignment forms, or in the event any such certificates are alleged to have been lost, stolen or destroyed, an affidavit of lost, stolen or
destroyed certificates to be delivered to the Company in a form reasonably satisfactory to the Company (including, if so requested, a bond in customary amount), and evidence of good title to the Redeemed Securities so purchased and the absence of
liens, encumbrances and adverse claims with respect thereto. The Company shall have the right to record such transfer on its books and records without the consent of the Redeemed Holder. Upon the exercise of the Redemption Right, the Redeemed Holder
shall transfer such Redeemed Securities free and clear of all liens and other encumbrances by delivering such instruments of transfer to the Company or its designee, as requested by the Company. 

9.9        The Company or its designee purchasing the Redeemed Securities will be entitled to require
the Redeemed Holder to provide representations and warranties regarding (w) its power, authority and legal capacity to enter into such repurchase, (x) valid right, title and interest in, and ownership of, the Redeemed Securities,
(y) the absence of any liens on the Redeemed Securities, and (z) the absence of any violation, in any material respect, or 

  
 20 

 
default under, or acceleration of any material agreement or instrument pursuant to which the Redeemed Holder or the assets of the Redeemed Holder are bound as a result of such repurchase. Should
the Company or any of its designees elect to exercise any Repurchase Rights pursuant to this Section 9 regardless of whether the Redeemed Holder delivers any Redeemed Securities in accordance with the terms hereof, the
Company may, at its option, upon delivery of the Repurchase Notice, in addition to all other remedies it may have, (1) cancel on its books such Redeemed Securities registered in the name of the Redeemed Holder and (2) issue to the
purchaser, in lieu thereof, the same class of securities of the Company registered in the purchaser’s name (or if the Company is the purchaser, cancel such Common Stock), and all of the Redeemed Holder’s right, title and interest in and to
the Redeemed Securities shall terminate in all respects. 
 9.10        Notwithstanding anything to
the contrary contained in this Agreement, all purchases of Redeemed Securities by the Company shall be subject to applicable restrictions contained in federal law and the Delaware General Corporation Law and in the Company’s and its respective
Subsidiaries’ debt and equity financing agreements. Notwithstanding anything to the contrary contained in this Agreement, if any such restrictions prohibit or otherwise delay the purchase by the Company of Redeemed Securities hereunder which
the Company is otherwise entitled or required to make, then the Company shall make such purchases within thirty (30) days of the date that it is permitted to do so under such restrictions. 

9.11        Upon receipt of a Redemption Notice, the Redeemed Holder shall be obligated to promptly
take all action or actions requested by the Company or TopCo Parent, as applicable, that are necessary or appropriate to complete the actions required by this Section 9. 

Section 10.        Piggy-Back Registration Rights. 

10.1        In the event that the Company proposes to register any Registrable Securities under the
Securities Act (other than a Registration Statement on Form S-4 or Form S-8, or any successor forms thereto, promulgated under the Securities Act), for the account of
TopCo Parent (or the Apollo Funds if such Apollo Funds are direct holders of Common Stock) the Company shall give the Holders written notice (the “Piggy-Back Notice”) of its intention to effect such a registration at least ten
(10) days before the anticipated filing date. Subject to Section 10.2, such Holders shall have the right (the “Piggy-Back Registration Right”) to request that the Company use its reasonable best
efforts to cause all the Registrable Securities specified in a written request by the Holders and delivered to the Company within ten (10) days after the giving of such Piggy-Back Notice by the Company to be included in such registration on the
same terms and conditions as the Registrable Securities otherwise being sold in such registration. The Holders shall be entitled to request to include in such Registration Statement a number of Registrable Securities equal to the product of
(x) the aggregate number of shares of Common Stock owned by such Holder as of the date of the Piggy-Back Notice (or at the Company’s option, as of the date such Registration Statement is filed) and (y) the ratio of (i) the number
of shares of Common Stock proposed to be included in such Registration Statement that are owned, directly or indirectly, by the Apollo Funds to (ii) the aggregate number of shares of Common Stock owned, directly or indirectly, by the Apollo
Funds that are outstanding as of the date of the Piggy-Back Notice (or at the Company’s option, as of the date such Registration Statement is filed). If at any time after giving written notice of its intention to register any Registrable
Securities and prior to the effective date of the Registration Statement filed in connection with such registration, the Company determines for any reason not to proceed with the proposed registration, the Company may at its election give written
notice of such determination 

  
 21 

 
to the Holders and thereupon shall be relieved of its obligation to register any Registrable Securities in connection with such registration. A Holder shall be permitted to withdraw all or part
of its Registrable Securities from a registration pursuant to this Section 10.1 at any time prior to the effectiveness of such Registration Statement except in an underwritten offering where such Holder has previously
committed to the underwriters that it would participate in such offering.
 10.2        If the
registration of which the Company gives notice is for a registered public underwritten offering, the Company shall so advise each of the Holders as a part of the written notice given pursuant to Section 10. In such event,
the right of each of the Holders to registration pursuant to this Section 10 shall be conditioned upon such Holder’s participation in such underwritten offering and the inclusion of such Holder’s Registrable
Securities in the underwritten offering to the extent provided herein. The Holders whose Registrable Securities are to be included in such registration shall (together with the Company) enter into an underwriting agreement in customary form with the
managing underwriter or underwriters selected for the underwritten offering by the Company; provided that such Holder will not be required to make any representations or warranties to the Company or to the underwriters (other than customary
representations and warranties regarding such Holder, such Holder’s ownership of Registrable Securities to be sold in such underwritten offering, and such Holder’s intended method of distribution) or to undertake any indemnification
obligations to the Company or to the underwriters with respect thereto (other than as provided in Section 10.7). Notwithstanding any other provision of this Section 10, if the managing underwriter
or underwriters determine that the inclusion of some or all of the Registrable Securities proposed to be included in the registration and the underwritten offering would adversely affect the successful marketing (including pricing) of the offering,
then the Company shall include in such Registration Statement only such number of Registrable Securities as the Company has been advised can be sold in such offering without such adverse effect, to be allocated in the following manner:
(i) first, one hundred percent (100%) of the Registrable Securities the Company proposes to sell, (ii) second, the number of Registrable Securities which the Apollo Funds, TopCo Parent and each Holder holding Registrable Securities
requested to be included in such offering, pro rata amongst the Apollo Funds, TopCo Parent and each Holder holding Registrable Securities based on the number of Registrable Securities that each of them shall have so requested to be included in such
offering, and (iii) third, the number of Registrable Securities requested to be included in such offering by any other Persons, pro rata among such Persons based upon the number of Registrable Securities which all such Persons requested to be
included in such offering; provided, that in the event such offering is a Qualified Public Offering and the managing underwriter or underwriters determine that the inclusion of some or all of the Registrable Securities proposed to be included
in the registration and the underwritten offering would adversely affect the successful marketing (including pricing) of the offering, then the managing underwriter or underwriters shall include in such Registration Statement only such number of
Registrable Securities as the Company has been advised can be sold in such offering without such adverse effect, to be allocated in the discretion of the managing underwriter or underwriters. If any Holder disapproves of the terms of any such
underwritten offering, it may elect to withdraw therefrom by written notice to the Company and the managing underwriter or underwriters prior to the commencement of such underwritten offering. Any Registrable Securities excluded or withdrawn from
any such underwritten offering also shall be excluded or withdrawn from the related registration. 

10.3        In the event that any Holder requests inclusion in a registration pursuant to this
Section 10 in connection with a distribution of Registrable Securities to its partners, members or other equity holders, the registration shall provide for a resale by such partners, members or other equity holders, as
applicable, if requested by such Holder; provided, that, in each case, such Holder shall cause its partners, members or other equity holders, as 

  
 22 

 
applicable, to be bound by and comply with this Section 10. Each of the Holders holding Registrable Securities included in any registration shall furnish to the Company
such information regarding such Holder and the distribution proposed by such Holder as the Company may reasonably request in writing and as shall be reasonably required in connection with any registration, qualification or compliance referred to in
this Section 10. The Company shall afford any Holder holding Registrable Securities included in any registration that, in the judgment of such Holder, might be deemed to be an underwriter or a “controlling person”
(within the meaning of Section 15 of the Securities Act or Section 20 of the 1934 Act) of the Company to participate in the Registration Statement with respect to such registration and to include language in such Registration Statement
that, in the reasonable judgment of such Holder and its legal counsel, should be included therein. 

10.4        Notwithstanding anything contained herein to the contrary, the Company shall have the
right to require the Holders to suspend offers and sales of Registrable Securities included on any Registration Statement filed whenever, and for so long as, in the judgment of the Company either (A) an event has occurred which makes any
statement made in such Registration Statement or related prospectus or document incorporated therein or deemed to be incorporated therein by reference untrue in any material respect or which requires the making of any changes in such Registration
Statement or prospectus so that it will not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein not misleading; or (B) it is advisable to
suspend use of the Registration Statement and prospectus due to pending corporate developments or public filings with the Securities and Exchange Commission or similar events; provided, however, that the aggregate number of days
included in any such suspension period shall not exceed one hundred and eighty (180) days in any twelve (12) month period. 

10.5        In connection with any registration of Registrable Securities under the Securities Act
(including any registration pursuant to this Section 10) for sale to the public, each Holder agrees (i) not to sell, make any short sale of, grant any option for the purchase of, or otherwise make a Disposition of, any
Registrable Securities (in each case, other than as part of such offering) without the prior written consent of the Company during a period designated in writing by the Company to each Holder that shall begin no more than ten (10) days prior to
the effectiveness of the Registration Statement under which such public offering shall be made and continuing for no more than ninety (90) days (or one hundred eighty (180) days in the case of the initial public offering) after the
effective date of such Registration Statement and (ii) to enter into a “lock-up” agreement on customary terms if requested by the underwriter(s) of such offering; provided, that such
agreement shall not restrict the selling of any Registrable Security for more than ninety (90) days (or one hundred eighty (180) days in the case of the initial public offering) after the effective date of such Registration Statement. 

10.6        The Company shall pay all expenses in connection with each registration of Registrable
Securities requested pursuant to this Section 10 and other expenses incidental to the Company’s performance of, or compliance with, this Section 10; provided, (A) the Company only
shall pay reasonable fees and expenses of one firm of counsel for the Holders whose Registrable Securities are to be included in a registration (which shall be selected by the Holders holding a majority of the Registrable Securities being included
in any particular Registration Statement) and (B) that each Holder shall pay its portion of all applicable underwriting fees, discounts and similar charges, if any, relating to the sale of its Registrable Securities included in any Registration
Statement pursuant to this Section 10. 

  
 23 

 10.7        Indemnification. 

(a)        To the fullest extent permitted by applicable law, the Company shall indemnify each of the
Holders and each of their respective Affiliates, as applicable, each of the foregoing’s respective officers, directors (or Persons in similar positions), members and partners, and each Person controlling each of the Holders and their respective
Affiliates within the meaning of the Securities Act or the 1934 Act, with respect to each registration which has been effected pursuant to this Section 10, and each underwriter, if any, and each Person who controls any
underwriter within the meaning of the Securities Act or the 1934 Act, against all claims, losses, damages and liabilities (or actions in respect thereof) arising out of or based on: (i) any untrue statement (or alleged untrue statement) of a
material fact contained in any Registration Statement, including any preliminary or final prospectus contained therein and any amendments or supplements thereto, incident to any such registration; (ii) any omission (or alleged omission) to
state therein a material fact required to be stated therein or necessary to make the statements therein not misleading; or (iii) any violation by the Company of the Securities Act, the 1934 Act, any state securities or blue sky laws or any rule
or regulation thereunder in connection with any such registration, and will reimburse each of the Holders and each of their respective Affiliates, as applicable, each of the foregoing’s respective officers, directors (or Persons in similar
positions), members and partners, and each Person controlling each of the Holders and their respective Affiliates, each such underwriter and each Person who controls any such underwriter, for any legal and any other expenses reasonably incurred in
connection with investigating and defending any such claim, loss, damage, liability or action; provided, that the Company will not be liable in any such case to the extent that any such claim, loss, damage, liability or expense arises out of
or is based on (y) any untrue statement or omission based upon written information furnished to the Company by any Holder or underwriter and stated to be specifically for use therein or (z) the failure of any Holder or any agent acting on
behalf of such Holder to timely deliver a prospectus, except those cases where such failure was a result of the act(s) or failure to act by the Company. The indemnity agreement contained in this Section 10.7(a) shall not
apply to amounts paid in settlement of any such loss, claim, damage, liability or action if such settlement is effected without the consent of the Company, which consent shall not be unreasonably withheld. 

(b)        To the fullest extent permitted by applicable law, each of the Holders will, if Registrable
Securities held by it are included in the securities as to which such registration, qualification or compliance is being effected will, indemnify the Company, each of its directors and officers and each underwriter, if any, of the Company’s
securities covered by a Registration Statement and each Person who controls the Company or such underwriter within the meaning of the Securities Act or the 1934 Act, against all claims, losses, damages and liabilities (or actions in respect thereof)
arising out of or based on: (i) any untrue statement (or alleged untrue statement) of a material fact contained in any such Registration Statement, including any preliminary or final prospectus contained therein and any amendments or
supplements thereto, made by such Holder; or (ii) any omission (or alleged omission) to state therein a material fact required to be stated therein or necessary to make the statements by such Holder therein not misleading, and will reimburse
the Company and such directors, officers, underwriters or control persons for any legal or any other expenses reasonably incurred in connection with investigating or defending any such claim, loss, damage, liability or action, in each case to the
extent, but only to the extent, that such untrue statement (or alleged untrue statement) or omission (or alleged omission) is made in such Registration Statement, including any preliminary or final prospectus contained therein and any amendments or
supplements thereto, in reliance upon and in conformity with written information furnished to the Company by such Holder and stated to be specifically for use therein; provided, however, that the obligations of each of the Holders
hereunder shall be limited to an amount equal to the net proceeds such Holder received by sale of securities as contemplated herein, except in the case of willful fraud by 

  
 24 

 
such Holder, and that the indemnity agreement contained in this Section 10.7(b) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability
or action if such settlement is effected without the consent of the Holder, which consent shall not be unreasonably withheld. 

(c)        Each Person entitled to indemnification under this Section 10
(each, a “Securities Indemnified Party”) shall give notice to the Person required to provide indemnification (the “Securities Indemnifying Party”) promptly after such Securities Indemnified Party has actual
knowledge of any claim as to which indemnity may be sought, and shall permit the Securities Indemnifying Party to assume the defense of any such claim or any litigation resulting therefrom; provided, that counsel for the Securities
Indemnifying Party, who shall conduct the defense of such claim or any litigation resulting therefrom, shall be approved by the Securities Indemnified Party (whose approval shall not unreasonably be withheld) and the Securities Indemnified Party may
participate in such defense at such Person’s expense (unless the Securities Indemnified Party shall have reasonably concluded that there may be a conflict of interest between the Securities Indemnifying Party and the Securities Indemnified
Party in such action, in which case the fees and expenses of counsel shall be at the expense of the Securities Indemnifying Party); provided, further, that the failure of any Securities Indemnified Party to give notice as provided
herein shall not relieve the Securities Indemnifying Party of its obligations under this Section 10 unless the Securities Indemnifying Party is materially prejudiced thereby in its ability to defend such action. No
Securities Indemnifying Party, in the defense of any such claim or litigation shall, except with the written consent of each Securities Indemnified Party, consent to 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 Securities Indemnified Party of a release from all liability in respect to such claim or litigation. Each Securities Indemnified Party shall furnish such information
regarding itself or the claim in question as a Securities Indemnifying Party may reasonably request in writing and as shall be reasonably required in connection with the defense of such claim and litigation resulting therefrom. 

(d)        If the indemnification provided for in this Section 10 is held by
a court of competent jurisdiction to be unavailable to a Securities Indemnified Party with respect to any loss, liability, claim, damage or expense referred to herein, then the Securities Indemnifying Party, in lieu of indemnifying such Securities
Indemnified Party hereunder, shall contribute to the amount paid or payable by such Securities Indemnified Party as a result of such loss, liability, claim, damage or expense in such proportion as is appropriate to reflect the relative fault of the
Securities Indemnifying Party on the one hand, and of the Securities Indemnified Party on the other, in connection with the statements or omissions which resulted in such loss, liability, claim, damage or expense, as well as any other relevant
equitable considerations. The relative fault of the Securities Indemnifying Party and of the Securities Indemnified Party shall be determined by reference to, among other things, whether the untrue (or alleged untrue) statement of a material fact or
the omission (or alleged omission) to state a material fact relates to information supplied by the Securities Indemnifying Party or by the Securities Indemnified Party and the Persons’ relative intent, knowledge, access to information and
opportunity to correct or prevent such statement or omission. 
 (e)        Notwithstanding the
foregoing, to the extent that the provisions on indemnification and contribution contained in the underwriting agreement entered into in connection with any Underwritten Offering contemplated by this Agreement are in conflict with the foregoing
provisions, the provisions in such underwriting agreement shall be controlling. 

  
 25 

 (f)        The foregoing indemnity obligations of the
Company and Holders are subject to the condition that, insofar as they relate to any loss, claim, liability or damage arising out of a statement made in or omitted from a preliminary prospectus but eliminated or remedied in the amended prospectus on
file with the Securities and Exchange Commission at the time the Registration Statement in question becomes effective or the amended prospectus filed with the Securities and Exchange Commission pursuant to Commission Rule 424(b) (the “Final
Prospectus”), such indemnity or contribution agreement shall not inure to the benefit of any underwriter or Holder if a copy of the Final Prospectus was furnished to the underwriter or Holder and was not furnished to the Person asserting
the loss, liability, claim or damage at or prior to the time such action is required by the Securities Act. 

10.8        TopCo Parent shall cause or shall have caused any of its Subsidiaries engaged in an
initial public offering to grant registration rights to the Holders substantially similar to the registration rights granted in this Section 10. This Section 10 will also apply, mutatis
mutandis, with respect to any successor to the Company, and TopCo Parent shall cause such entity to afford registration rights (and be subject to such obligations) as are analogous to those set forth in this Section 10.

 10.9        The Company shall (a) make and keep public information available, as those
terms are understood and defined in Rule 144, at all times after the date on which the Company becomes subject to Section 13(a) or Section 15(d) of the 1934 Act; (b) use reasonable efforts to file with the Securities and Exchange
Commission in a timely manner all reports and other documents required of the Company under the Securities Act and the 1934 Act, at any time after it has become subject to such reporting requirements; and (c) furnish to any Holder, so long as
the Holder owns Registrable Securities, promptly upon request, a written statement by the Company as to the Company’s compliance with the reporting requirements of Rule 144 (at any time after ninety (90) days after the effective date
of the first Registration Statement filed by the Company for an offering of its securities to the general public) and of the Securities Act and the 1934 Act (after it has become subject to such reporting requirements) and such other reports and
documents so filed or furnished by the Company as such holder may reasonably request in connection with the sale of Registrable Securities without registration. 

10.10        Certain Definitions. For purposes of this Section 10:

 (a)        “1934 Act” shall mean the Securities Exchange Act of
1934, as amended, and the rules and regulations promulgated thereunder. 

(b)        “Final Prospectus” has the meaning ascribed to such term in
Section 10.7(f). 
 (c)        “Registrable
Securities” shall mean (i) Management Shares, (ii) any securities owned by or to be acquired by a Holder in respect of Management Shares in connection with a recapitalization, merger, consolidation, exchange or other
reorganization of the Company, (iii) any of the securities described in the preceding clause (ii) acquired pursuant to open market purchases by or that are otherwise held by any Holder; provided, however, that Management
Shares shall be deemed to be Registrable Securities only following the date that TopCo Parent has sold Common Stock in registered offerings in exchange for net proceeds at least equal to the amount of the aggregate amount paid by TopCo Parent for
all Common Stock purchased by TopCo Parent during the period beginning on the date of the Original Agreement and ending on the date of any such registered offering; and provided, further, that any Registrable

  
 26 

 
Securities shall cease to be Registrable Securities when (A) a Registration Statement with respect to the sale of such Registrable Securities has been declared effective under the Securities
Act and such Registrable Securities have been disposed of in accordance with the plan of distribution set forth in such Registration Statement, (B) such Registrable Securities are distributed pursuant to Rule 144 (or any similar provision
then in force) under the Securities Act, (C) such Registrable Securities shall have been otherwise transferred and new certificates for them not bearing a legend restricting further transfer under the Securities Act shall have been delivered by
the Company and subsequent disposition of such securities does not require registration or qualification of such securities under the Securities Act or any state securities or blue sky law then in force, (D) such Registrable Securities are
eligible to be sold pursuant to Rule 144 (or any similar provision then in force) under the Securities Act without volume limitations or (E) such Registrable Securities have ceased to be outstanding; and provided, further, that
any securities that have ceased to be Registrable Securities shall not thereafter become Registrable Securities and any security that is issued or distributed in respect of securities that have ceased to be Registrable Securities is not a
Registrable Security. Notwithstanding any other provision of this Section 10.10(a), with respect to any Registration Statement that registers Common Stock, “Registrable Securities” shall only include Common Stock.

 (d)        “Securities Indemnified Party” has the meaning
ascribed to such term in Section 10.7(c). 

(e)        “Securities Indemnifying Party” has the meaning ascribed to
such term in Section 10.7(c). 

(f)        “Underwritten Offering” means a sale of Common Stock to an
underwriter for reoffering to the public. 
 Section 11.        Reserved. 

Section 12.        Confidentiality. 

The terms and conditions of this Agreement shall be held confidential by the Holders and no Holder shall disclose to any Person not a party to
this Agreement any of the terms or conditions of this Agreement. Each Holder agrees that it will not, directly or indirectly, at any time during or after such time as such Holder is a holder of securities of the Company, use, take commercial or
proprietary advantage of or profit from or disclose in any manner whatsoever, in whole or in part, any information (whether or not in written form and whether or not expressly designated as confidential), documents or materials of or concerning
TopCo Parent, AP VIII Prime Security, the Koch Equityholder, the Apollo Funds, the Company or any of their respective Affiliates or any of its or their respective former, current or future, direct or indirect, equity holders, controlling persons,
general or limited partners, stockholders, members, managers, directors, officers, employees, agents, consultants, affiliates, attorneys, advisors or other representatives received on a confidential basis from the Company or any other Person under
or pursuant to this Agreement or any other agreement with the TopCo Parent, AP VIII Prime Security, the Koch Equityholder, the Apollo Funds, the Company or any of their respective Affiliates including financial terms and financial and organizational
information contained in any documents, statements, certificates, materials or information furnished, or to be furnished, by or on behalf of TopCo Parent, AP VIII Prime Security, the Koch Equityholder, the Apollo Funds, the Company or any of their
respective Affiliates or any other Person in connection with the 

  
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purchase or ownership of any Common Stock or Awards, except as is required to be disclosed under applicable law or order of any Governmental Entity (provided, that the party required to
make such disclosure shall provide the Company with prompt notice of any such disclosure and shall, to the fullest extent permitted by applicable law, limit the extent of such disclosure). 

Section 13.        Distributions in Connection with Merger or Qualified Public Offering;
Cooperation with Qualified Public Offering Reorganization and SEC Filings. 
 13.1        In
the event of any merger, consolidation, statutory share exchange or other business combination or reorganization of the Company, on the one hand, with any of its Subsidiaries, on the other hand, each Holder shall, to the extent necessary, as
determined by TopCo Parent, execute a management investor rights agreement with terms that are substantially equivalent (to the extent practicable) to, mutatis mutandis, the terms of this Agreement. 

13.2        Upon the election of TopCo Parent, each Holder shall enter into a capital reorganization
transaction (a “Reorganization”) in which each such Holder will become a member, partner or stock holder and/or option holder of a newly formed holding company (“New Holdco”), which may be a limited liability
company, corporation, or limited partnership or similar entity and shall cease to be holders of their Common Stock. The Reorganization may be structured as determined by TopCo Parent, in its sole discretion, as a contribution, merger, consolidation,
recapitalization or substantially similar transaction in which each Holder exchanges the Common Stock for substantially similar equity securities of New HoldCo (collectively, the “New Equity Securities”). The New Equity Securities
shall provide each Holder with substantially similar economic and other rights, privileges and restrictions as such Holder had prior to such Reorganization. Upon the occurrence of a Reorganization, either (i) New Holdco shall assume all
obligations of the Company under this Agreement and any Awards and all references herein to the Company, its Common Stock and its Awards (or terms of similar import) would be deemed changed mutatis mutandis to reflect the issuance of the New
Equity Securities by New HoldCo and their attendant rights, privileges and restrictions and the assumption of this Agreement and any Awards by New HoldCo or (ii) upon the election of TopCo Parent, each Holder and New HoldCo shall enter into a
new agreement based on terms that are substantially similar to this Agreement and otherwise that do not affect a Holder in a manner materially adverse and substantially different relative to the other Holders, as determined by TopCo Parent. Each
Holder and the Company agree to execute any agreements or other documents in connection with the Reorganization that TopCo Parent deems necessary and proper to consummate the Reorganization. 

13.3        In connection with any proposed transaction contemplated by
Section 13.1 or Section 13.2, each Holder shall take such actions as may be required and otherwise cooperate in good faith with the Company and TopCo Parent, including taking all actions requested
by the Company or TopCo Parent and executing and delivering all agreements, instruments and documents as may be required or desirable to consummate any such proposed transaction. 

13.4        Each Holder agrees, following the consummation of an initial public offering of
securities of the Company (or any of its direct or indirect parent entities, any of its Subsidiaries or any successor thereof), to take or avoid taking (as applicable) actions that would potentially cause liability to the Company, TopCo Parent, AP
VIII Prime Security, the Koch Equityholder, the Apollo Funds or any Affiliate of the foregoing or any Holder under Section 13 or Section 16 of the Exchange Act or the rules and regulations promulgated

  
 28 

 
thereunder. To the extent that the Company, TopCo Parent, the Apollo Funds, the Koch Equityholder or any Affiliate of the foregoing or any Holder determines that it is obligated to make filings
under Section 13 or Section 16 of the Exchange Act or the rules and regulations promulgated thereunder, each Holder agrees to cooperate with the Person that determines that it has such a filing obligation, including by promptly providing
information required by such Person for any such filing. 

Section 14.        Representations and Warranties. 

Each Holder hereby makes the representations and warranties set forth on Exhibit B to each of the other parties to this Agreement as of
the date such Holder executes this Agreement or an Adoption Agreement, as the case may be, and on any subsequent date on which such Holder may acquire Common Stock. 

Section 15.        Miscellaneous Provisions. 

15.1        Interpretation of Certain Words. Whenever the context requires, the gender of all
words used herein shall include the masculine, feminine and neuter, and the number of all words shall include the singular and plural. 

15.2        Binding Effect. This Agreement shall be binding upon the Company, the Holders, any
spouses of the Holders, and their respective heirs, executors, administrators and permitted successors and assigns. 

15.3        Governing Law; Jurisdiction, Waiver of Jury Trial. 

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

 (b)        Each of the parties hereto irrevocably (i) consents to submit itself to the
personal jurisdiction of the Delaware Court of Chancery, or in the event (but only in the event) that the Delaware Court of Chancery does not have subject matter jurisdiction over such legal action or proceeding, the United States District Court for
the District of Delaware, or in the event (but only in the event) that such United States District Court for the District of Delaware also does not have subject matter jurisdiction over such legal action or proceeding, any Delaware state court
sitting in New Castle County, in connection with any matter based upon or arising out of this Agreement or the actions of the parties hereof, (ii) agrees that it will not attempt to deny or defeat such personal jurisdiction by motion or other
request for leave from any such court and (iii) agrees that it will not bring any action relating to this Agreement in any court other than the courts of the State of Delaware, as described above. Each of the parties hereto hereby agrees that
service of any process, summons, notice or document by U.S. registered mail to the addresses set forth in Annex I and Annex II shall be effective service of process for any suit or proceeding in connection with this Agreement. Each
party to this Agreement hereby irrevocably waives, and agrees not to assert, by way of motion, as a defense, counterclaim or otherwise, in any action or proceeding with respect to this Agreement, any claim that it is not personally subject to the
jurisdiction of the above-named courts for any reason other than the failure to serve process in accordance with this Section 15.3(b), that it or its property is exempt or immune from jurisdiction of any such court or from
any legal process commenced in such courts (whether through service of notice, attachment prior to judgment, attachment in aid of execution of judgment, execution of 

  
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judgment or otherwise), and to the fullest extent permitted by applicable law, that the suit, action or proceeding in any such court is brought in an inconvenient forum, that the venue of such
suit, action or proceeding is improper, or that this Agreement, or the subject matter hereof, may not be enforced in or by such courts and further irrevocably waives, to the fullest extent permitted by applicable law, the benefit of any defense
that would hinder, fetter or delay the levy, execution or collection of any amount to which a party hereto is entitled pursuant to the final judgment of any court having jurisdiction. Each party hereto expressly acknowledges that the foregoing
waiver is intended to be irrevocable under the laws of the State of Delaware and of the United States of America; provided, that each such party’s consent to jurisdiction and service contained in this
Section 15.3(b) is solely for the purpose referred to in this Section 15.3(b) and shall not be deemed to be a general submission to said courts or in the State of Delaware other than for such
purpose. 
 (c)        EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY
JURY IN ANY ACTION, PROCEEDING, CLAIM OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. 

15.4        Amendment. 

(a)        Except as otherwise expressly set forth herein, this Agreement may only be modified or
amended, and provisions hereof may be waived, by an instrument in writing duly executed and delivered by TopCo Parent; provided, however, that, any amendment, modification or waiver that, by its terms, would adversely and uniquely
affect a Holder relative to other Holders without similarly affecting all of the Holders shall require the prior written consent of such adversely and uniquely affected Holder. Any waiver of any provision of this Agreement requested by any party
hereto must be in writing by the party granting such waiver. Upon obtaining such approvals required by this Agreement and without any further action or execution by any other Person, including any Holder, (x) any amendment, restatement,
modification or waiver of this Agreement may be implemented and reflected in a writing executed solely by TopCo Parent, and (y) each of the Holders and any other party to this Agreement shall be deemed a party to and bound by such amendment,
restatement, modification or waiver of this Agreement. 
 (b)        For the avoidance of doubt, in
addition to other amendments authorized herein, amendments may be made to this Agreement from time to time by TopCo Parent, without the consent of any of the Holders or any other party to this Agreement: (i) to delete or add any provision of
this Agreement required to be so deleted or added by any federal or state official, which addition or deletion is deemed by such official to be for the benefit or protection of the Holders or any other party to this Agreement and (ii) to
reflect changes in ownership of Common Stock and/or other securities of the Company, including changes pursuant to Permitted Dispositions. 

(c)        If this Agreement is amended solely to reflect the addition or substitution of a Holder or
increasing the ownership of a Holder, in accordance with the terms hereof, such amendment to this Agreement shall be sufficient when it is signed by TopCo Parent and by the Person to be substituted or added or who is increasing his, her or its
investment in the Company, and, if a Holder is to be substituted, by the assigning Holder, as applicable. 

15.5        Termination. This Agreement shall terminate automatically upon: (a) the
dissolution of the Company or (b) the consummation of a Control Disposition. 

  
 30 

 15.6        Dispositions of Common Stock. Any
Holder who disposes of all of his, her or its Common Stock and all securities exercisable, or exchangeable for or convertible into, Common Stock in conformity with the terms and conditions of this Agreement shall cease to be a party to this
Agreement and shall have no further rights and obligations hereunder. 
 15.7        Spousal
Consent. The spouses of the individual Holders are fully aware of, understand and fully consent and agree to the provisions of this Agreement and its binding effect upon any community property interests or similar marital property interests in
the Common Stock they may now or hereafter own, and agree that the termination of their marital relationship with any Holder for any reason shall not have the effect of removing any Common Stock otherwise subject to this Agreement from the coverage
of this Agreement and that their awareness, understanding, consent and agreement are evidenced by their signing this Agreement. Furthermore, unless otherwise determined by the Company or TopCo Parent, each individual Holder agrees to cause his or
her spouse (and any subsequent spouse) to execute and deliver a Spousal Consent or, if unmarried, to personally execute and deliver a Spousal Consent, in each case substantially in the form of Exhibit C attached hereto or
in a form otherwise satisfactory to the Company. 
 15.8        Treatment of Certain
Dispositions. Any Disposition or attempted Disposition in breach of this Agreement shall be void ab initio and of no effect. Notwithstanding anything to the contrary set forth herein, the Company may determine to treat any
attempted Disposition in breach of this Agreement as an Offer pursuant to Section 2.6. Additionally, Section 3 shall apply to such attempted Disposition; provided, however, that the
time periods set forth in that Section shall begin to run as of the date the Company receives evidence satisfactory to it of such attempted Disposition. In connection with any attempted Disposition in breach of this Agreement, the Company may hold
and refuse to transfer any Common Stock or any certificate therefor, in addition to and without prejudice to any and all other rights or remedies which may be available to it, TopCo Parent and/or the Holders. Each party to this Agreement
acknowledges that a remedy at law for any breach or attempted breach of this Agreement will be inadequate, agrees that each other party to this Agreement shall be entitled to specific performance and injunctive and other equitable relief in case of
any such breach or attempted breach and further agrees to waive (to the extent legally permissible) any legal conditions required to be met for the obtaining of any such injunctive or other equitable relief (including posting any bond in order to
obtain equitable relief). 
 15.9        Counterparts. This Agreement may be executed
simultaneously in two or more counterparts, any one of which need not contain the signatures of more than one party, but all such counterparts taken together will constitute one and the same agreement. It shall not be necessary in making proof of
this Agreement to produce or account for more than one such counterpart. The failure of any Holder to execute this Agreement does not make it invalid as against any other Holder. 

15.10        Severability. Whenever possible, each provision of this Agreement will be
interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement is held to be invalid, illegal or unenforceable in any respect under any applicable law or rule in any jurisdiction, such
invalidity, illegality or unenforceability will not affect any other provision or any other jurisdiction, and such invalid, void or otherwise unenforceable provisions shall be null and void. It is the intent of the parties, however, that any
invalid, void or otherwise unenforceable provisions be automatically replaced by other provisions which are as similar as possible in terms to such invalid, void or otherwise unenforceable provisions but are valid and enforceable to the fullest
extent permitted by law. 

  
 31 

 15.11        Further Efforts. Each Holder shall
do and perform or cause to be done and performed, without further consideration, all such further acts and things and shall execute and deliver all such other agreements, certificates, instruments, and documents as the Company may request in order
to carry out the provisions of this Agreement and to consummate of the transactions contemplated hereby. 

15.12        Waivers. No course of dealing between the Company, or its Subsidiaries, and the
Holders (or any of them) or any delay in exercising any rights hereunder will operate as a waiver of any rights of any party to this Agreement. The failure of any party to enforce any of the provisions of this Agreement will in no way be construed
as a waiver of such provisions and will not affect the right of such party thereafter to enforce each and every provision of this Agreement in accordance with its terms. 

15.13        Entire Agreement. This Agreement sets forth the entire agreement of the parties
hereto as to the subject matter hereof and supersedes and cancels all previous and contemporaneous agreements among all or some of the parties hereto, whether written, oral or otherwise. Unless otherwise provided herein, any consent, approval,
decision or action of the Company or TopCo Parent, as the case may be, may be given, withheld, taken or omitted by the Company or TopCo Parent, as the case may be, in its sole discretion. 

15.14        Third-Party Beneficiaries. Except as otherwise expressly provided for in this
Agreement, none of the provisions in this Agreement shall be for the benefit of or enforceable by any Person other than the parties to this Agreement, their respective heirs, executors, administrators, successors and assigns except that
(a) each Related Party shall be a third-party beneficiary of Section 15.20 (and any other provision or definition of this Agreement to the extent an amendment, supplement, waiver or other modification of such provision
or definition would modify the substance of such Section and definition) and (b) each of the Apollo Funds and AP VIII Prime Security shall be a third-party beneficiary of this Agreement. The covenants and agreements contained herein shall be
binding upon and inure to the benefit of the heirs, executors, administrators, successors and assigns of the respective parties hereto. 

15.15        Recapitalizations, Splits and Adjustments to Common Stock. If, and as often as,
there are any changes in the Common Stock by way of stock split, stock dividend, combination or reclassification, or through merger, consolidation, reorganization or recapitalization, or by any other means, appropriate adjustment shall be made in
the provisions of this Agreement, as may be required, so that the rights, privileges, duties and obligations hereunder shall continue with respect to the Common Stock as so changed. 

15.16        Personal Liability. To the fullest extent permitted by law, no director of the
Company or its Subsidiaries shall be personally liable to the Company or any Holder as a result of any acts or omissions taken under this Agreement in good faith. 

15.17        Efforts in Support of Registration. Notwithstanding anything to the contrary
herein, and except for Dispositions allowed under Section 9, if the Company proposes for any reason to register Common Stock under the Securities Act (including any registration pursuant to
Section 10) for sale to the public, each Holder agrees (i) not to sell, make any short sale of, grant any option for the purchase of, or otherwise Transfer, any Registrable Securities (in each case, other than as part
of such registration) without the prior written consent of the Company during a period designated in writing by the Company to each Holder that shall begin no more than ten (10) days prior to the effectiveness of the Registration Statement
under which such public offering shall be made and continuing for no more than ninety (90) days (or 

  
 32 

 
one hundred eighty (180) days in the case of an initial public offering), in each case, subject to any customary “booster shot” extensions, following the effective date of such
Registration Statement and (ii) to enter into a “lock-up” agreement on customary terms if requested by the underwriter(s) of such offering; provided, that such agreement shall not
restrict the selling of any Registrable Security for more than ninety (90) days (or one hundred eighty (180) days in the case of an initial public offering), in each case, subject to any customary “booster shot” extensions, after
the effective date of such Registration Statement (the “Underwriters Lock-Up Period”). 

15.18        Additional Common Stock. In the event additional shares of Common Stock are
issued by the Company to a Holder at any time during the term of this Agreement, either directly or upon the exercise, conversion or exchange of securities of the Company exercisable for or convertible or exchangeable into shares of Common Stock,
such additional shares of Common Stock shall, as a condition to such issuance, become subject to the terms and provisions of this Agreement. 

15.19        Assignment. 

(a)        Notwithstanding anything to the contrary contained herein, TopCo Parent may assign its
rights or obligations, in whole or in part, under this Agreement to one or more of its Affiliates. 

(b)        Notwithstanding anything in this Agreement to the contrary, TopCo Parent shall have the
right, at its election and without the consent of any other Person, to assign any or all of its rights or obligations under this Agreement to any Person or Persons to whom TopCo Parent sells or transfers Common Stock. No Holder may, directly or
indirectly, assign or transfer (whether in connection with the transfer of Common Stock or otherwise) all or any part of its rights or obligations under this Agreement without the prior written consent of TopCo Parent (which consent may be withheld
by TopCo Parent at its sole discretion). 

15.20        Non-Recourse. Notwithstanding anything
that may be expressed or implied in this Agreement, and notwithstanding the fact that certain of the parties hereto may be partnerships, limited liability companies, corporations or other entities, each Holder covenants, agrees and acknowledges that
no recourse or any claims or causes of action (whether in contract, tort or otherwise) under or that may be based upon, arise out of or relate to this Agreement or any documents or instruments delivered by any Person pursuant hereto or the
negotiation, execution or performance hereof or thereof (including any representation or warranty made in or in connection with, or as an inducement to enter into this Agreement or such documents and instruments), shall be had against any of the
Company’s, TopCo Parent’s, the Apollo Funds’, AP VIII Prime Security’s, the Koch Equityholder’s or any Holder’s or any of the foregoing’s respective Affiliates’ former, current or future direct or indirect
equity holders, controlling Persons, stockholders, directors, officers, employees, agents, Affiliates, members, financing sources, managers, general or limited partners or assignees, consultants, attorneys, advisors, portfolio companies in which any
such party or any of their investment fund Affiliates have made a debt or equity investment (and vice versa) or any other representative of the Apollo Funds (including any Person negotiating or executing this Agreement on behalf of a party hereto)
(each, a “Related Party” and collectively, the “Related Parties”), in each case other than (subject, for the avoidance of doubt, to the provisions of this Agreement, the Certificate of Incorporation and the Bylaws)
the Company, TopCo Parent, the Holders or any of their respective assignees under this Agreement, whether by the enforcement of any assessment or by any legal or equitable proceeding, or by virtue of any applicable law, it being expressly agreed

  
 33 

 
and acknowledged that no personal liability whatsoever shall attach to, be imposed on or otherwise be incurred by any of the Related Parties, as such, for any obligation or liability of the
Company, TopCo Parent, the Apollo Funds, AP VIII Prime Security, the Koch Equityholder or any Holder under this Agreement or any documents or instruments delivered by any Person pursuant hereto for any claim based on, in respect of or by reason of
such obligations or liabilities or their creation; provided, however, that nothing in this Section 15.20 shall relieve or otherwise limit the liability of the Company or any Holder, as such, for any breach or
violation of its obligations under such agreements, documents or instruments. 
 15.21        No
Partnership Status. Nothing in this Agreement and no actions taken by the parties under this Agreement shall constitute a partnership, association or other co-operative entity between any of the parties or
constitute any party the agent of any other party for any purpose. 
 15.22        Further
Acknowledgements. Each Holder acknowledges and agrees that the restrictions on transfer set forth in this Agreement are reasonable and have been imposed to accomplish legitimate corporate objectives and may adversely affect the proceeds received
by such Holder in any sale, transfer or liquidation of any Common Stock, and as a result of such restrictions on transfer and ownership, it may not be possible for the such Holder to liquidate all or any part of such Holder’s interest in Common
Stock at the time of such Holder’s choosing, in exigent circumstances or otherwise. Each Holder further acknowledges and agrees that each of the Company, TopCo Parent, AP VIII Prime Security, the Apollo Funds and their respective Affiliates
shall have no liability whatsoever to such Holder arising from, relating to or in connection with the restrictions on transfer of Common Stock or any interest therein as set forth in this Agreement, except to the extent the Company fails to comply
in any material respect with its obligations to such Holder pursuant to this Agreement. 

15.23        Observance of Securities Law. Notwithstanding anything to the contrary contained
herein, no Holder shall exercise any of the rights conferred hereunder in contravention of any securities laws of any applicable jurisdiction. 

15.24        Interpretation. The division into sections and other subdivisions and the
insertion of headings are for convenience of reference only and shall not affect or be utilized in construing or interpreting this Agreement and all references in this Agreement to any “article,” “section,” “schedule”
or “exhibit” are to the corresponding article, section, schedule or exhibit of or to this Agreement. Unless otherwise specified, terms such as “herein,” “hereinafter,” “hereof,” “hereto” and
“hereunder” refer to this Agreement as a whole and not merely to any particular provision of this Agreement. For purposes of this Agreement, the words “include,” “includes,” and “including,” and any variation
thereof means “including without limitation” when used within and shall not be construed to limit any general statement that it follows to the specific or similar items or matters immediately following it. The word “or” shall not
be exclusive. The word “will” shall be construed to have the same meaning as the word “shall”. The words “to the extent” shall mean the degree to which a subject or other things extends, and such phrase shall not mean
simply “if”. All references to currency, monetary values and dollars set forth herein shall, unless otherwise indicated, mean U.S. dollars and all payments hereunder shall be made in U.S. dollars. All references to any period of days are
to the relevant number of calendar days unless Business Days are specified. Any deadline or time period set forth in this Agreement that by its terms ends on a day that is not a Business Day shall be automatically extended to the next succeeding
Business Day. With respect to the determination of any period of time, “from” means “from and including”. Each party hereto has participated in the drafting of this Agreement, which each such party acknowledges is the result

  
 34 

 
of negotiations among such parties (as sophisticated Persons), and consequently, this Agreement shall be interpreted without reference to any laws to the effect that any ambiguity in a document
be construed against the drafter. If an ambiguity or question of intent or interpretation arises, this Agreement will be construed as if drafted jointly by the parties and no presumption or burden of proof will arise favoring or disfavoring any
party because of the authorship of any provision of this Agreement. References to agreements and other documents shall be deemed to include all amendments, modifications and supplements thereto. References to acts and statutes shall include the
rules and regulations promulgated thereunder, and any reference to any acts, statutes, rules and regulations shall refer to the same as amended from time to time. The use herein of the masculine, feminine or neuter forms shall also denote the other
forms, as in each case the context may require. Except when the context requires otherwise, any reference in this Agreement to a singular number shall include the plural. 

[Remainder of page intentionally left blank.] 

  
 35 

 This Agreement is executed by the Company, TopCo Parent and by each Holder and spouse of a Holder
to be effective as of the date first above written. 
  

					
	COMPANY
	
	ADT INC.
		
	By:	 	  

		 	Name:	 	Timothy J. Whall
		 	Title	 	President

  
  

 
  

Signature Page to ADT Inc. A&R Management Investor Rights Agreement 

 
					
	TOPCO PARENT
	
	PRIME SECURITY SERVICES TOPCO PARENT, L.P.
		
	By:	 	Prime Security Services TopCo Parent GP, LLC, its general partner
		
	 By:
	 	  

		 	Name:	 	Timothy J. Whall
		 	Title:	 	President

  
  
  

Signature Page to ADT Inc. A&R Management Investor Rights Agreement 

 HOLDERS 

See Annex II 

 EXHIBIT A 

Adoption Agreement 
 This
Adoption Agreement (this “Adoption”) is executed pursuant to the terms of the Amended and Restated Management Investor Rights Agreement dated as of December [●], 2017, a copy of which is attached hereto (as the same may be
amended, restated and/or modified from time to time, the “Management Investor Rights Agreement”), by the transferee (“Transferee”) executing this Adoption. By the execution of this Adoption, the Transferee agrees as
follows: 
  

	 	(1)	Acknowledgement. Transferee acknowledges that Transferee is acquiring certain Common Stock of ADT Inc., a Delaware corporation (the “Company”), subject to the terms and conditions of the
Management Investor Rights Agreement among the Company and the Holders party thereto. Capitalized terms used herein without definition are defined in the Management Investor Rights Agreement and are used herein with the same meanings set forth
therein. 

  

	 	(2)	Agreement. Transferee (i) agrees that the Common Stock acquired by Transferee, and certain other Common Stock and other securities that may be acquired by Transferee in the future, shall be bound by and
subject to the terms and conditions of the Management Investor Rights Agreement, pursuant to the terms and conditions thereof and (ii) hereby adopts the Management Investor Rights Agreement with the same force and effect as if he or she were
originally a party thereto. 

  

	 	(3)	Notice. Any notice required or permitted by the Management Investor Rights Agreement or under the Certificate of Incorporation, the Bylaws, the Delaware General Corporation Law or other applicable law may be
given to Transferee at the address or by means of electronic transmission set forth beside Transferee’s signature below. Transferee further agrees to notify the Company of any change to Transferee’s electronic mail address, and further
agrees that the provision of such notice to the Company shall constitute the consent of Transferee to receive notice at such electronic mail address. In the event that the Company is unable to deliver notice to Transferee at the electronic mail
address so provided by Transferee, Transferee shall, within two (2) Business Days after a request by the Company, provide the Company with a valid electronic mail address to which Transferee consents to receive notice at such electronic mail
address. 

  

	 	(4)	Joinder. Transferee agrees that, unless otherwise determined by the Company or TopCo Parent, the spouse of Transferee (and any subsequent spouse) shall execute and deliver a Spousal Consent or, if unmarried,
personally execute and deliver a Spousal Consent, in each case substantially in the form of Exhibit C attached to the Management Investor Rights Agreement or in a form otherwise satisfactory to the Company. 

 

	
	   

	[Name of Transferee]

 Annex I 
  

	 	(i)	If to the Company: 

 ADT Inc. 

c/o Apollo Global Management, LLC 

9 West 57th Street 

New York, NY 10019 

Attention: Marc Becker 

Facsimile: 646-607-0546 

Email: becker@apollolp.com 

with a copy to: 
 ADT
Corporation 
 1501 Yamato Rd. 

Boca Raton, FL 33431 

Attention: General Counsel 
 E-mail: gfinney@adt.com 
 with a copy to: 

Paul, Weiss, Rifkind, Wharton & Garrison LLP 

1285 Avenue of the Americas 

New York, N.Y. 10019-6064 

Attention: Taurie M. Zeitzer, Esq. 

E-mail: tzeitzer@paulweiss.com 

 

	 	(ii)	If to TopCo Parent: 

 Prime Security Services TopCo Parent, L.P. 

c/o Apollo Global Management, LLC 

9 West 57th Street 

New York, NY 10019 

Attention: Marc Becker 

Facsimile: 646-607-0546 

Email: becker@apollolp.com 

with a copy to: 
 ADT
Corporation 
 1501 Yamato Rd. 

Boca Raton, FL 33431 

Attention: General Counsel 
 E-mail: gfinney@adt.com 

 with a copy to: 

Paul, Weiss, Rifkind, Wharton & Garrison LLP 

1285 Avenue of the Americas 

New York, N.Y. 10019-6064 

Attention: Taurie M. Zeitzer, Esq. 

E-mail: tzeitzer@paulweiss.com 

(iii)    If to any Holder, to the address or electronic mail address or other contact information set forth with respect
to such Holder in the Company’s records. 
 *  *  *  *  * 

 Annex II 

 

	
	HOLDER
	
	  

	 Name:

	 Address:

	 E-mail:

 EXHIBIT B 

Representations and Warranties 
  

	 	1.	Holder has the requisite power and authority, is of legal age and has the requisite legal capacity to execute and deliver the Management Investor Rights Agreement or, as applicable, an Adoption Agreement (each, a
“Transaction Document”), to carry out his, her or its obligations hereunder and thereunder and to consummate the transactions contemplated hereby and thereby. The execution and delivery by Holder of a Transaction Document, the
performance by Holder of his, her or its obligations thereunder and the consummation by Holder of the transactions contemplated thereby have been duly authorized by Holder. The Transaction Document has been duly and validly executed and delivered by
Holder and is a legal, valid and binding obligation of Holder, enforceable against Holder in accordance with its terms, except as the enforceability may be limited by (a) applicable bankruptcy, insolvency, moratorium, reorganization, fraudulent
conveyance or similar laws in effect which affect the enforcement of creditors’ rights generally or (b) general principles of equity. 

  

	 	2.	The execution and delivery of a Transaction Document by Holder, the performance by Holder of his, her or its obligations thereunder and the consummation by Holder of the transactions contemplated thereby do not and will
not (a) materially violate or materially conflict with any law or governmental order applicable to Holder or any of Holder’s assets or properties or (b) violate or conflict with in any material respect, result in any material breach
of, or constitute a material default (or event which with the giving of notice or lapse of time, or both, would become a default) under, any agreement to which Holder is a party or by which any of its assets or properties is bound.

  

	 	3.	Holder is an “accredited investor” as defined in Rule 501 under the Act. 

  

	 	4.	Holder has such knowledge and experience in financial and business matters that it is capable of utilizing the information made available to Holder to evaluate the merits and risks of an investment in the Company and to
make an informed investment decision with respect thereto. Holder is aware that his, her or its purchase of Common Stock is highly speculative and he, she or it is able, without impairing his, her or its financial condition, to hold the Common Stock
for an indefinite period of time and to suffer a complete loss of its investment. 

  

	 	5.	The Common Stock is being purchased by Holder for his, her or its own account only for investment and is not being purchased with a view towards their resale or further distribution. 

 

	 	6.	Holder acknowledges that he, she or it is not subscribing for Common Stock as a result of or subsequent to (a) any advertisement, article, notice or other communication published in any newspaper, magazine or
similar media or broadcast over television, radio or the interest or (b) any seminar or meeting whose attendees have been invited by any general solicitation or general advertising. 

 

	 	7.	No consent, approval, order or authorization of, or registration, declaration or filing with, any court, administrative agency or commission or other governmental authority or instrumentality, domestic or foreign (each,
a “Governmental Entity”), with respect to Holder is required in connection with the execution, delivery or performance by Holder of a Transaction Document or the consummation by Holder of the transactions contemplated by such
Transaction Document. 

	 	8.	There are no suits, actions, claims, proceedings or investigations pending or, to the knowledge of Holder, threatened against, relating to or involving Holder before any Governmental Entity. Holder is not subject to any
judgment, decree, injunction, rule or order of any court. 

  

	 	9.	Holder acknowledges that neither the Company, any of its Affiliates nor any of their respective representatives has rendered any investment advice or securities valuation advice to Holder, and that Holder is neither
subscribing for nor acquiring any interest in the Company in reliance upon or with the expectation of, any such advice. 

  

	 	10.	Holder has been given the opportunity to ask questions of, and receive answers from, the Company concerning the terms and conditions of, and other matters pertaining to, this investment, and has had or been given an
opportunity to access such financial and other information concerning the Company as it has considered necessary to make a decision to invest in the Company and has availed itself of this opportunity to the full extent desired. 

 

	 	11.	Holder is acquiring the Common Stock in compliance with all applicable laws, rules, regulations and other legal requirements including without limitation the legal requirements of jurisdictions in which such Holder is
resident and in which such acquisition is being consummated. 

  

	 	12.	If Holder is a Non-U.S. Person, Holder has not been solicited to purchase and has not and shall not acquire his, her or its Common Stock, directly or indirectly, while present in
the United States. 

  

	 	13.	If Holder is a Non-U.S. Person, the Holder shall notify the Company promptly after it ceases to be a Non-U.S. Person. 

 

	 	14.	Holder agrees to deliver to the Company such information as to certain matters under the Act as the Company may request in order to ensure compliance with the Act and the availability of any exemptions thereunder.

  

	 	15.	All information provided by Holder in connection with the Common Stock is true and correct in all material respects. 

  

	 	16.	Holder acknowledges and agrees that the Company has relied and will rely on the representations and warranties of Holder set forth in this Exhibit B and that all such representations and warranties shall survive
the date hereof. Without limiting the foregoing, each Holder agrees to give the Company prompt written notice in the event that any representations of such Holder contained herein ceases to be true at any time following the date hereof.

  

	 	17.	If any answer provided or background documentation required in connection herewith is found to be false, forged or misleading, Holder understands that the Company may require Holder to fully redeem its shares.

  

	 	18.	Holder is the sole record and beneficial owner of the Common Stock. 

 EXHIBIT C 

Form of Spousal Consent 
 Date:
[●] 
 Reference is made to that certain: 
  

	 	(i)	ADT Inc. Amended and Restated Management Investor Rights Agreement, dated and effective as of December [●], 2017 (as amended from time to time, the “Agreement”); and 

 

	 	(ii)	[Title of applicable award agreement] by and between the Company and [full name of Options recipient] (the “Participant”), dated and effective as of [●],
201[●] (the “Award Agreement”). 

 

For Married Participants: 

The undersigned, [full name of Holder’s spouse], married to the Participant, both with domicile at [home address], hereby states the
following: 
  

	 	1.	that I have full knowledge of the terms and conditions of the Agreement; 

  

	 	2.	that I confirm, acknowledge, approve of and hereby give my irrevocable and unconditional consent to the Participant and the Company in respect of the transfer of all securities of the Company held by the Participant at
any time, as well as the exercise of all rights and obligations attached thereto (including pursuant to Sections 2(b), 2.2, 2.3, 2.4 and 15.7) and, under the terms and conditions of the Agreement and/or any other
related agreements or documents; 

  

	 	3.	that this Spousal Consent shall be valid and effective upon the signing hereof and I, whether now or in the future, shall accept, agree and ratify all actions taken by the Participant in connection with the above
matter; 

  

	 	4.	that this Spousal Consent shall be valid and effective for the transfer of the abovementioned securities of the Company in one or more times; and 

 

	 	5.	that I grant to the Participant all power and authority to, in my behalf and representation, perform all acts and execute, in the terms that my spouse deems appropriate, all agreements, instruments, minutes,
communications, endorsements and other documents related to the implementation of the above. 

 This Spousal Consent is governed by the laws
of the State of Delaware. 
  

	
	   

	[Spouse of Participant]

 
For Unmarried Participants: 

I am unmarried, and I therefore have full capacity to agree to the investment and the other obligations or determinations undertaken under the Agreement and
the Award Agreement. If I marry at a time that I hold securities of the Company or retain any rights in respect of such securities, I hereby undertake to notify the Company of such change in status and to arrange for my spouse to execute and return
a Spousal Consent within sixty (60) days after the marriage. 
  

	
	  

	[Participant]Exhibit 10.1

FORM OF INDEMNIFICATION AGREEMENT

This Indemnification Agreement (“Agreement”), dated as of [DATE], is by and between Asure Software, Inc., a Delaware corporation (the “Company”) and [NAME OF DIRECTOR/OFFICER] (the “Indemnitee”).

WHEREAS, Indemnitee is [a director/an officer] of the Company;

WHEREAS, both the Company and Indemnitee recognize the increased risk of litigation and other claims being asserted against directors and officers of public companies;

WHEREAS, the board of directors of the Company (the “Board”) has determined that enhancing the ability of the Company to retain and attract as directors and officers the most capable persons is in the best interests of the Company and that the Company therefore should seek to assure such persons that indemnification and insurance coverage is available; and

WHEREAS, in recognition of the need to provide Indemnitee with substantial protection against personal liability, in order to procure Indemnitee’s service, or continued service, as a director and/or officer of the Company and to enhance Indemnitee’s ability to serve the Company in an effective manner, and in order to provide such protection pursuant to express contract rights (intended to be enforceable irrespective of, among other things, any amendment to the Company’s certificate of incorporation or bylaws (collectively, the “Constituent Documents”), any change in the composition of the Board or any change in control or business combination transaction relating to the Company), the Company wishes to provide in this Agreement for the indemnification of, and the advancement of Expenses (as defined in Section 1(f) below) to, Indemnitee as set forth in this Agreement and  for the coverage of Indemnitee under the Company’s directors’ and officers’ liability insurance policies.

NOW, THEREFORE, in consideration of the foregoing and the Indemnitee’s agreement to provide, or continue to provide, services to the Company, the parties agree as follows:

1.          Definitions. For purposes of this Agreement, the following terms shall have the following meanings:

(a)           “Beneficial Owner” has the meaning given to the term “beneficial owner” in Rule 13d-3 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”).

 

(b)           “Change in Control” means the occurrence after the date of this Agreement of any of the following events:

 

(i)           any Person is or becomes the Beneficial Owner, directly or indirectly, of securities of the Company representing 50% or more of the Company’s then outstanding Voting Securities;

 

(ii)           the consummation of a reorganization, merger or consolidation, unless immediately following such reorganization, merger or consolidation, all of

1

the Beneficial Owners of the Voting Securities of the Company immediately prior to such transaction beneficially own, directly or indirectly, more than 50% of the combined voting power of the outstanding Voting Securities of the entity resulting from such transaction; 

 

(iii)           during any period of two consecutive years, not including any period prior to the execution of this Agreement, individuals who at the beginning of such period constituted the Board (including for this purpose any new directors whose election by the Board or nomination for election by the Company’s stockholders was approved by a vote of at least two-thirds (2/3) of the directors then still in office who either were directors at the beginning of the period or whose election or nomination for election was previously so approved) cease for any reason to constitute at least a majority of the Board; or

 

(iv)           the stockholders of the Company approve a plan of complete liquidation or dissolution of the Company or an agreement for the sale or disposition by the Company of all or substantially all of the Company’s assets.

 

(c)           “Claim” means:

 

(i)           any threatened, pending or completed action, suit, proceeding or alternative dispute resolution mechanism, whether civil, criminal, administrative, arbitrative, investigative or other, and whether made pursuant to federal, state or other law; or

 

(ii)           any inquiry, hearing or investigation that the Indemnitee determines might lead to the institution of any such action, suit, proceeding or alternative dispute resolution mechanism.

 

(d)           “Delaware Court” shall have the meaning ascribed to it in Section 8(e) below.

 

(e)           “Disinterested Director” means a director of the Company who is not and was not a party to the Claim in respect of which indemnification is sought by Indemnitee.

 

(f)           “Expenses” means any and all expenses, including attorneys’ and experts’ fees, court costs, transcript costs, travel expenses, duplicating, printing and binding costs, telephone charges, and all other costs and expenses incurred in connection with investigating, defending, being a witness in or participating in (including on appeal), or preparing to defend, be a witness or participate in, any Claim. Expenses also shall include (i) Expenses incurred in connection with any appeal resulting from any Claim, including without limitation the premium, security for, and other costs relating to any cost bond, supersedeas bond, or other appeal bond or its equivalent, and (ii) for purposes of Section 4 only, Expenses incurred by Indemnitee in connection with the interpretation, enforcement or defense of Indemnitee’s rights under this Agreement, by litigation or otherwise. Expenses, however, shall not include amounts paid in settlement by Indemnitee or the amount of judgments or fines against Indemnitee.

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(g)           “Expense Advance” means any payment of Expenses advanced to Indemnitee by the Company pursuant to Section 2 or Section 3 hereof.

 

(h)           “Indemnifiable Event” means any event or occurrence, whether occurring before, on or after the date of this Agreement, related to the fact that Indemnitee is or was a director, officer, employee or agent of the Company or any subsidiary of the Company, or is or was serving at the request of the Company as a director, officer, employee, member, manager, trustee or agent of any other corporation, limited liability company, partnership, joint venture, trust or other entity or enterprise (collectively with the Company, “Enterprise”) or by reason of an action or inaction by Indemnitee in any such capacity (whether or not serving in such capacity at the time any Loss is incurred for which indemnification can be provided under this Agreement).

 

(i)           “Independent Counsel” means a law firm, or a member of a law firm, that is experienced in matters of corporation law and neither presently performs, nor in the past five years has performed, services for either: (i) the Company or Indemnitee (other than in connection with matters concerning Indemnitee under this Agreement or of other indemnitees under similar agreements) or (ii) any other party to the Claim giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing, the term “Independent Counsel” shall not include any person who, under the applicable standards of professional conduct then prevailing, would have a conflict of interest in representing either the Company or Indemnitee in an action to determine Indemnitee’s rights under this Agreement.

 

(j)           “Losses” means any and all Expenses, damages, losses, liabilities, judgments, fines, penalties (whether civil, criminal or other), ERISA excise taxes, amounts paid or payable in settlement, including any interest, assessments, and all other charges paid or payable in connection with investigating, defending, being a witness in or participating in (including on appeal), or preparing to defend, be a witness or participate in, any Claim.

 

(k)           “Person” means any individual, corporation, firm, partnership, joint venture, limited liability company, estate, trust, business association, organization, governmental entity or other entity and includes the meaning set forth in Sections 13(d) and 14(d) of the Exchange Act.

 

(l)           “Standard of Conduct Determination” shall have the meaning ascribed to it in Section 8(b) below.

 

(m)           “Voting Securities” means any securities of the Company that vote generally in the election of directors.

 

2.          Indemnification. Subject to Section 8 and Section 9 of this Agreement, the Company shall indemnify Indemnitee, to the fullest extent permitted by the laws of the State of Delaware in effect on the date hereof, or as such laws may from time to time hereafter be amended to increase the scope of such permitted indemnification, against any and all Losses if Indemnitee was or is or becomes a party to or participant in, or is threatened to be made a party

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to or participant in, any Claim by reason of or arising in part out of an Indemnifiable Event, including, without limitation, Claims brought by or in the right of the Company, Claims brought by third parties, and Claims in which the Indemnitee is solely a witness.

3.          Advancement of Expenses. Indemnitee shall have the right to advancement by the Company, prior to the final disposition of any Claim by final adjudication to which there are no further rights of appeal, of any and all Expenses actually and reasonably paid or incurred by Indemnitee in connection with any Claim arising out of an Indemnifiable Event. Indemnitee’s right to such advancement is not subject to the satisfaction of any standard of conduct. Without limiting the generality or effect of the foregoing, within thirty (30) days after any request by Indemnitee, the Company shall, in accordance with such request, (a) pay such Expenses on behalf of Indemnitee, (b) advance to Indemnitee funds in an amount sufficient to pay such Expenses, or (c) reimburse Indemnitee for such Expenses. In connection with any request for Expense Advances, Indemnitee shall not be required to provide any documentation or information to the extent that the provision thereof would undermine or otherwise jeopardize attorney-client privilege. Indemnitee hereby undertakes to repay any amounts paid, advanced, or reimbursed by the Company for such Expenses to the extent that it is ultimately determined, following the final disposition of such Claim, that Indemnitee is not entitled to indemnification hereunder. Indemnitee’s obligation to reimburse the Company for Expense Advances shall be unsecured and shall not be subject to the accrual or payment of any interest thereon and shall not be conditioned upon Indemnitee’s ability to repay such advances.

4.          Indemnification for Expenses in Enforcing Rights. To the fullest extent allowable under applicable law, the Company shall also indemnify against, and, if requested by Indemnitee, shall advance to Indemnitee subject to and in accordance with Section 3, any Expenses actually and reasonably paid or incurred by Indemnitee in connection with any action or proceeding by Indemnitee for (a) indemnification or reimbursement or advance payment of Expenses by the Company under any provision of this Agreement, or under any other agreement or provision of the Constituent Documents now or hereafter in effect relating to Claims relating to Indemnifiable Events, and/or (b) recovery under any directors’ and officers’ liability insurance policies maintained by the Company. However, in the event that Indemnitee is ultimately determined not to be entitled to such indemnification or insurance recovery, as the case may be, then all amounts advanced under this Section 4 shall be repaid. Indemnitee shall be required to reimburse the Company in the event that a final judicial determination is made that such action brought by Indemnitee was frivolous or not made in good faith.

5.          Partial Indemnity. If Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for a portion of any Losses in respect of a Claim related to an Indemnifiable Event but not for the total amount thereof, the Company shall nevertheless indemnify Indemnitee for the portion thereof to which Indemnitee is entitled.

6.          Notification and Defense of Claims.

(a)           Notification of Claims. Indemnitee shall notify the Company in writing as soon as practicable of any Claim which could relate to an Indemnifiable Event or for which Indemnitee could seek Expense Advances, including a brief description (based upon information then available to Indemnitee) of the nature of, and the facts underlying,

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such Claim. The failure by Indemnitee to timely notify the Company hereunder shall not relieve the Company from any liability hereunder unless the Company’s ability to participate in the defense of such claim was materially and adversely affected by such failure. If at the time of the receipt of such notice, the Company has directors’ and officers’ liability insurance in effect under which coverage for Claims related to Indemnifiable Events is potentially available, the Company shall give prompt written notice to the applicable insurers in accordance with the procedures set forth in the applicable policies.

(b)           Defense of Claims. The Company shall be entitled to participate in the defense of any Claim relating to an Indemnifiable Event at its own expense and, except as otherwise provided below, to the extent the Company so wishes, it may assume the defense thereof with counsel reasonably satisfactory to Indemnitee. After notice from the Company to Indemnitee of its election to assume the defense of any such Claim, the Company shall not be liable to Indemnitee under this Agreement or otherwise for any Expenses subsequently directly incurred by Indemnitee in connection with Indemnitee’s defense of such Claim other than reasonable costs of investigation or as otherwise provided below. Indemnitee shall have the right to employ its own legal counsel in such Claim, but all Expenses related to such counsel incurred after notice from the Company of its assumption of the defense shall be at Indemnitee’s own expense; provided, however, that if (i) Indemnitee’s employment of its own legal counsel has been authorized by the Company, (ii) Indemnitee has reasonably determined that there may be a conflict of interest between Indemnitee and the Company in the defense of such Claim, (iii) after a Change in Control, Indemnitee’s employment of its own counsel has been approved by the Independent Counsel or (iv) the Company shall not in fact have employed counsel to assume the defense of such Claim, then Indemnitee shall be entitled to retain its own separate counsel (but not more than one law firm plus, if applicable, local counsel in respect of any such Claim) and all Expenses related to such separate counsel shall be borne by the Company.

7.          Procedure upon Application for Indemnification. In order to obtain indemnification pursuant to this Agreement, Indemnitee shall submit to the Company a written request therefor, including in such request such documentation and information as is reasonably available to Indemnitee and is reasonably necessary to determine whether and to what extent Indemnitee is entitled to indemnification following the final disposition of the Claim. Indemnification shall be made insofar as the Company determines Indemnitee is entitled to indemnification in accordance with Section 8 below.

8.          Determination of Right to Indemnification.

(a)           Mandatory Indemnification; Indemnification as a Witness.

 

(i)           To the extent that Indemnitee shall have been successful on the merits or otherwise in defense of any Claim relating to an Indemnifiable Event or any portion thereof or in defense of any issue or matter therein, including without limitation dismissal without prejudice, Indemnitee shall be indemnified against all Losses relating to such Claim in accordance with Section 2 to the fullest extent

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allowable by law, and no Standard of Conduct Determination (as defined in Section 8(b)) shall be required.

 

(ii)           To the extent that Indemnitee’s involvement in a Claim relating to an Indemnifiable Event is to prepare to serve and serve as a witness, and not as a party, the Indemnitee shall be indemnified against all Losses incurred in connection therewith to the fullest extent allowable by law, and no Standard of Conduct Determination (as defined in Section 8(b)) shall be required.

 

(b)           Standard of Conduct. To the extent that the provisions of Section 8(a) are inapplicable to a Claim related to an Indemnifiable Event that shall have been finally disposed of, any determination of whether Indemnitee has satisfied any applicable standard of conduct under Delaware law that is a legally required condition to indemnification of Indemnitee hereunder against Losses relating to such Claim and any determination that Expense Advances must be repaid to the Company (a “Standard of Conduct Determination”) shall be made as follows:

 

(i)           if no Change in Control has occurred, (A) by a majority vote of the Disinterested Directors, even if less than a quorum of the Board, (B) by a committee of Disinterested Directors designated by a majority vote of the Disinterested Directors, even though less than a quorum or (C) if there are no such Disinterested Directors, by Independent Counsel in a written opinion addressed to the Board, a copy of which shall be delivered to Indemnitee; and

 

(ii)           if a Change in Control shall have occurred, (A) if the Indemnitee so requests in writing, by a majority vote of the Disinterested Directors, even if less than a quorum of the Board or (B) otherwise, by Independent Counsel in a written opinion addressed to the Board, a copy of which shall be delivered to Indemnitee.

 

The Company shall indemnify and hold harmless Indemnitee against and, if requested by Indemnitee, shall reimburse Indemnitee for, or advance to Indemnitee, within 30 days of such request, any and all Expenses incurred by Indemnitee in cooperating with the person or persons making such Standard of Conduct Determination.

(c)           Making the Standard of Conduct Determination. The Company shall use its reasonable best efforts to cause any Standard of Conduct Determination required under Section 8(b) to be made as promptly as practicable. If the person or persons designated to make the Standard of Conduct Determination under Section 8(b) shall not have made a determination within 30 days after the later of (A) receipt by the Company of a written request from Indemnitee for indemnification pursuant to Section 7 (the date of such receipt being the “Notification Date”) and (B) the selection of an Independent Counsel, if such determination is to be made by Independent Counsel, then Indemnitee shall be deemed to have satisfied the applicable standard of conduct; provided that such 30-day period may be extended for a reasonable time, not to exceed an additional 30 days, if the person or persons making such determination in good faith requires such additional time to obtain or evaluate information relating thereto. Notwithstanding

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anything in this Agreement to the contrary, no determination as to entitlement of Indemnitee to indemnification under this Agreement shall be required to be made prior to the final disposition of any Claim.

(d)           Payment of Indemnification. If, in regard to any Losses:

 

(i)           Indemnitee shall be entitled to indemnification pursuant to Section 8(a);

 

(ii)           no Standard Conduct Determination is legally required as a condition to indemnification of Indemnitee hereunder; or

 

(iii)           Indemnitee has been determined or deemed pursuant to Section 8(b) or Section 8(c) to have satisfied the Standard of Conduct Determination,

 

then the Company shall pay to Indemnitee, within five days after the later of (A) the Notification Date or (B) the earliest date on which the applicable criterion specified in clause (i), (ii) or (iii) is satisfied, an amount equal to such Losses.

(e)           Selection of Independent Counsel for Standard of Conduct Determination. If a Standard of Conduct Determination is to be made by Independent Counsel pursuant to Section 8.1(b)(i), the Independent Counsel shall be selected by the Board of Directors, and the Company shall give written notice to Indemnitee of the identity of the Independent Counsel so selected. If a Standard of Conduct Determination is to be made by Independent Counsel pursuant to Section 8.1(b)(ii), the Independent Counsel shall be selected by Indemnitee, and Indemnitee shall give written notice to the Company advising it of the identity of the Independent Counsel so selected. In either case, Indemnitee or the Company, as applicable, may, within five days after receiving written notice of selection from the other, deliver to the other a written objection to such selection; provided, however, that such objection may be asserted only on the ground that the Independent Counsel so selected does not satisfy the criteria set forth in the definition of “Independent Counsel” in Section 1(i), and the objection shall set forth with particularity the factual basis of such assertion. Absent a proper and timely objection, the person or firm so selected shall act as Independent Counsel. If such written objection is properly and timely made and substantiated, (i) the Independent Counsel so selected may not serve as Independent Counsel unless and until such objection is withdrawn or a court has determined that such objection is without merit; and (ii) the non-objecting party may, at its option, select an alternative Independent Counsel and give written notice to the other party advising such other party of the identity of the alternative Independent Counsel so selected, in which case the provisions of the two immediately preceding sentences, the introductory clause of this sentence and numbered clause (i) of this sentence shall apply to such subsequent selection and notice. If applicable, the provisions of clause (ii) of the immediately preceding sentence shall apply to successive alternative selections. If no Independent Counsel that is permitted under the foregoing provisions of this Section 8(e) to make the Standard of Conduct Determination shall have been selected within 20 days after the Company gives its initial notice pursuant to the first sentence of this Section 8(e) or Indemnitee gives its initial notice pursuant to the second sentence of

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this Section 8(e), as the case may be, either the Company or Indemnitee may petition the Court of Chancery of the State of Delaware (“Delaware Court”) to resolve any objection which shall have been made by the Company or Indemnitee to the other’s selection of Independent Counsel and/or to appoint as Independent Counsel a person to be selected by the Court or such other person as the Court shall designate, and the person or firm with respect to whom all objections are so resolved or the person or firm so appointed will act as Independent Counsel. In all events, the Company shall pay all of the reasonable fees and expenses of the Independent Counsel incurred in connection with the Independent Counsel’s determination pursuant to Section 8(b).

(f)           Presumptions and Defenses.

(i)           Indemnitee’s Entitlement to Indemnification. In making any Standard of Conduct Determination, the person or persons making such determination shall presume that Indemnitee has satisfied the applicable standard of conduct and is entitled to indemnification, and the Company shall have the burden of proof to overcome that presumption and establish that Indemnitee is not so entitled. Any Standard of Conduct Determination that is adverse to Indemnitee may be challenged by the Indemnitee in the Delaware Court. No determination by the Company (including by its directors or any Independent Counsel) that Indemnitee has not satisfied any applicable standard of conduct may be used as a defense to any legal proceedings brought by Indemnitee to secure indemnification or reimbursement or advance payment of Expenses by the Company hereunder or create a presumption that Indemnitee has not met any applicable standard of conduct.

 

(ii)           Reliance as a Safe Harbor. For purposes of this Agreement, and without creating any presumption as to a lack of good faith if the following circumstances do not exist, Indemnitee shall be deemed to have acted in good faith and in a manner he or she reasonably believed to be in or not opposed to the best interests of the Company if Indemnitee’s actions or omissions to act are taken in good faith reliance upon the records of the Company, including its financial statements, or upon information, opinions, reports or statements furnished to Indemnitee by the officers or employees of the Company or any of its subsidiaries in the course of their duties, or by committees of the Board or by any other Person (including legal counsel, accountants and financial advisors) as to matters Indemnitee reasonably believes are within such other Person’s professional or expert competence and who has been selected with reasonable care by or on behalf of the Company. In addition, the knowledge and/or actions, or failures to act, of any director, officer, agent or employee of the Company shall not be imputed to Indemnitee for purposes of determining the right to indemnity hereunder.

 

(iii)           No Other Presumptions. For purposes of this Agreement, the termination of any Claim by judgment, order, settlement (whether with or without court approval) or conviction, or upon a plea of nolo contendere or its equivalent, will not create a presumption that Indemnitee did not meet any applicable

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standard of conduct or have any particular belief, or that indemnification hereunder is otherwise not permitted.

(iv)           Defense to Indemnification and Burden of Proof. It shall be a defense to any action brought by Indemnitee against the Company to enforce this Agreement (other than an action brought to enforce a claim for Losses incurred in defending against a Claim related to an Indemnifiable Event in advance of its final disposition) that it is not permissible under applicable law for the Company to indemnify Indemnitee for the amount claimed. In connection with any such action or any related Standard of Conduct Determination, the burden of proving such a defense or that the Indemnitee did not satisfy the applicable standard of conduct shall be on the Company.

 

(v)           Resolution of Claims. The Company acknowledges that a settlement or other disposition short of final judgment may be successful on the merits or otherwise for purposes of Section 8.1(a)(i) if it permits a party to avoid expense, delay, distraction, disruption and uncertainty. In the event that any Claim relating to an Indemnifiable Event to which Indemnitee is a party is resolved in any manner other than by adverse judgment against Indemnitee (including, without limitation, settlement of such action, claim or proceeding with our without payment of money or other consideration) it shall be presumed that Indemnitee has been successful on the merits or otherwise for purposes of Section 8.1(a)(i). The Company shall have the burden of proof to overcome this presumption.

 

9.          Exclusions from Indemnification. Notwithstanding anything in this Agreement to the contrary, the Company shall not be obligated to:

(a)           indemnify or advance funds to Indemnitee for Expenses or Losses with respect to proceedings initiated by Indemnitee, including any proceedings against the Company or its directors, officers, employees or other indemnitees and not by way of defense, except:

 

(i)           proceedings referenced in Section 4 above (unless a court of competent jurisdiction determines that each of the material assertions made by Indemnitee in such proceeding was not made in good faith or was frivolous); or

 

(ii)           where the Company has joined in or the Board has consented to the initiation of such proceedings.

 

(b)           indemnify Indemnitee if a final decision by a court of competent jurisdiction determines that such indemnification is prohibited by applicable law.

 

(c)           indemnify Indemnitee for the disgorgement of profits arising from the purchase or sale by Indemnitee of securities of the Company in violation of Section 16(b) of the Exchange Act, or any similar successor statute.

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(d)           indemnify or advance funds to Indemnitee for Indemnitee’s reimbursement to the Company of any bonus or other incentive-based or equity-based compensation previously received by Indemnitee or payment of any profits realized by Indemnitee from the sale of securities of the Company, as required in each case under the Exchange Act (including any such reimbursements under Section 304 of the Sarbanes-Oxley Act of 2002 in connection with an accounting restatement of the Company or the payment to the Company of profits arising from the purchase or sale by Indemnitee of securities in violation of Section 306 of the Sarbanes-Oxley Act).

 

10.          Settlement of Claims. The Company shall not be liable to Indemnitee under this Agreement for any amounts paid in settlement of any threatened or pending Claim related to an Indemnifiable Event effected without the Company’s prior written consent, which shall not be unreasonably withheld. The Company shall not settle any Claim related to an Indemnifiable Event in any manner that would impose any Losses on the Indemnitee without the Indemnitee’s prior written consent.

11.          Duration. All agreements and obligations of the Company contained herein shall continue during the period that Indemnitee is a director or officer of the Company (or is serving at the request of the Company as a director, officer, employee, member, trustee or agent of another Enterprise) and shall continue thereafter (i) so long as Indemnitee may be subject to any possible Claim relating to an Indemnifiable Event (including any rights of appeal thereto) and (ii) throughout the pendency of any proceeding (including any rights of appeal thereto) commenced by Indemnitee to enforce or interpret his or her rights under this Agreement, even if, in either case, he or she may have ceased to serve in such capacity at the time of any such Claim or proceeding.

12.          Non-Exclusivity. The rights of Indemnitee hereunder will be in addition to any other rights Indemnitee may have under the Constituent Documents, the General Corporation Law of the State of Delaware, any other contract or otherwise (collectively, “Other Indemnity Provisions”); provided, however, that (a) to the extent that Indemnitee otherwise would have any greater right to indemnification under any Other Indemnity Provision, Indemnitee will be deemed to have such greater right hereunder and (b) to the extent that any change is made to any Other Indemnity Provision which permits any greater right to indemnification than that provided under this Agreement as of the date hereof, Indemnitee will be deemed to have such greater right hereunder.

13.          Liability Insurance. For the duration of Indemnitee’s service as a director and/or officer of the Company, and thereafter for so long as Indemnitee shall be subject to any pending Claim relating to an Indemnifiable Event, the Company shall use commercially reasonable efforts (taking into account the scope and amount of coverage available relative to the cost thereof) to continue to maintain in effect policies of directors’ and officers’ liability insurance providing coverage that is at least substantially comparable in scope and amount to that provided by the Company’s current policies of directors’ and officers’ liability insurance. In all policies of directors’ and officers’ liability insurance maintained by the Company, Indemnitee shall be named as an insured in such a manner as to provide Indemnitee the same rights and benefits as are provided to the most favorably insured of the Company’s directors, if Indemnitee is a director, or of the Company’s officers, if Indemnitee is an officer (and not a director) by such

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policy. Upon request, the Company will provide to Indemnitee copies of all directors’ and officers’ liability insurance applications, binders, policies, declarations, endorsements and other related materials.

14.          No Duplication of Payments. The Company shall not be liable under this Agreement to make any payment to Indemnitee in respect of any Losses to the extent Indemnitee has otherwise received payment under any insurance policy, the Constituent Documents, Other Indemnity Provisions or otherwise of the amounts otherwise indemnifiable by the Company hereunder.

15.          Subrogation. In the event of payment to Indemnitee under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee. Indemnitee shall execute all papers required and shall do everything that may be necessary to secure such rights, including the execution of such documents necessary to enable the Company effectively to bring suit to enforce such rights.

16.          Amendments. No supplement, modification or amendment of this Agreement shall be binding unless executed in writing by both of the parties hereto. No waiver of any of the provisions of this Agreement shall be binding unless in the form of a writing signed by the party against whom enforcement of the waiver is sought, and no such waiver shall operate as a waiver of any other provisions hereof (whether or not similar), nor shall such waiver constitute a continuing waiver. Except as specifically provided herein, no failure to exercise or any delay in exercising any right or remedy hereunder shall constitute a waiver thereof.

17.          Binding Effect. This Agreement shall be binding upon and inure to the benefit of and be enforceable by the parties hereto and their respective successors (including any direct or indirect successor by purchase, merger, consolidation or otherwise to all or substantially all of the business and/or assets of the Company), assigns, spouses, heirs and personal and legal representatives. The Company shall require and cause any successor (whether direct or indirect by purchase, merger, consolidation or otherwise) to all, substantially all or a substantial part of the business and/or assets of the Company, by written agreement in form and substances satisfactory to Indemnitee, expressly to assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform if no such succession had taken place.

18.          Severability. The provisions of this Agreement shall be severable in the event that any of the provisions hereof (including any portion thereof) are held by a court of competent jurisdiction to be invalid, illegal, void or otherwise unenforceable, and the remaining provisions shall remain enforceable to the fullest extent permitted by law. Furthermore, to the fullest extent possible, the provisions of this Agreement (including each portion of this Agreement containing any provision held to be invalid, void or otherwise unenforceable that is not itself invalid, void or unenforceable) shall be construed so as to give effect to the intent manifested by the provision held invalid, illegal or unenforceable.

19.          Notices. All notices, requests, demands and other communications hereunder shall be in writing and shall be deemed to have been duly given if delivered by hand, against receipt, or mailed, by postage prepaid, certified or registered mail:

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(a)           if to Indemnitee, to the address set forth on the signature page hereto.

(b) if to the Company, to the address of its principal corporate offices (Attention: Secretary).

Notice of change of address shall be effective only when given in accordance with this Section. All notices complying with this Section shall be deemed to have been received on the date of hand delivery or on the third business day after mailing.

20.          Governing Law and Forum. This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of Delaware applicable to contracts made and to be performed in such state without giving effect to its principles of conflicts of laws. The Company and Indemnitee hereby irrevocably and unconditionally: (a) agree that any action or proceeding arising out of or in connection with this Agreement shall be brought only in the Delaware Court and not in any other state or federal court in the United States, and (b) consent to submit to the exclusive jurisdiction of the Delaware Court for purposes of any action or proceeding arising out of or in connection with this Agreement. THE COMPANY AND INDEMNITEE HEREBY IRREVOCABLY WAIVE ANY AND ALL RIGHTS TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT.

21.          Headings. The headings of the sections and paragraphs of this Agreement are inserted for convenience only and shall not be deemed to constitute part of this Agreement or to affect the construction or interpretation thereof.

22.          Counterparts. This Agreement may be executed in one or more counterparts, each of which shall for all purposes be deemed to be an original, but all of which together shall constitute one and the same Agreement.

[SIGNATURE PAGE FOLLOWS]

 

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

ASURE SOFTWARE, INC.

By:                                                                             

Name:                                                                        

Title:                                                                          

INDEMNITEE:

                                                                                   

Name:                                                                        

Address:                                                                   

                                                                                   

                                                                                   

 

 

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