Document:

EX-10.8

 Exhibit 10.8 
  

 
  

AMENDED AND RESTATED STOCKHOLDERS AGREEMENT 

BY AND AMONG 

MISTER CAR WASH, INC. 

AND 

THE INITIAL STOCKHOLDERS 

[ 🌑 ], 2021

 
  

 
  

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
	SECTION I.	  	 DEFINITIONS
	  	 	1	 
	1.1	  	 Drafting Conventions; No Construction Against Drafter
	  	 	1	 
	1.2	  	 Defined Terms
	  	 	2	 
	SECTION II.	  	 REPRESENTATIONS AND WARRANTIES
	  	 	4	 
	2.1	  	 Representations and Warranties of the Initial Stockholder
	  	 	4	 
	2.2	  	 Representations and Warranties of the Company
	  	 	4	 
	SECTION III.	  	 REGISTRATION RIGHTS
	  	 	5	 
	3.1	  	 Demand and Piggyback Rights
	  	 	5	 
	3.2	  	 Notices, Cutbacks and Other Matters
	  	 	6	 
	3.3	  	 Facilitating Registrations and Offerings
	  	 	8	 
	3.4	  	 Indemnification
	  	 	12	 
	3.5	  	 Rule 144
	  	 	14	 
	SECTION
IV.	  	 CORPORATE GOVERNANCE
	  	 	14	 
	4.1	  	 Board of Directors
	  	 	14	 
	4.2	  	 Agreement of Company
	  	 	16	 
	SECTION V.	  	 MISCELLANEOUS PROVISIONS
	  	 	16	 
	5.1	  	 Access Rights
	  	 	16	 
	5.2	  	 Confidentiality
	  	 	16	 
	5.3	  	 Reliance
	  	 	17	 
	5.4	  	 Access to Agreement; Amendment and Waiver; Actions of the Board
	  	 	17	 
	5.5	  	 Notices
	  	 	17	 
	5.6	  	 Counterparts
	  	 	19	 
	5.7	  	 Remedies; Severability
	  	 	19	 
	5.8	  	 Entire Agreement
	  	 	19	 
	5.9	  	 Termination
	  	 	19	 
	5.10	  	 Governing Law
	  	 	19	 
	5.11	  	 Successors and Assigns; Beneficiaries
	  	 	19	 
	5.12	  	 Consent to Jurisdiction; Specific Performance; WAIVER OF JURY TRIAL
	  	 	19	 
	5.13	  	 Further Assurances; Company Logo
	  	 	20	 
	5.14	  	 Regulatory Matters
	  	 	20	 
	5.15	  	 No Third Party Liability
	  	 	20	 
	5.16	  	 Effectiveness of Agreement
	  	 	20	 
	5.17	  	 Removal of Legends
	  	 	21	 
	5.18	  	 Inconsistent Agreements
	  	 	21	 

 EXHIBIT 
 Exhibit
A: Form of Joinder Agreement 

  
 i 

 STOCKHOLDERS AGREEMENT 

This Amended and Restated Stockholders Agreement (this “Agreement”) is entered into as of
[ 🌑 ], 2021 by and among (a) Mister Car Wash, Inc., a Delaware corporation (the “Company”), (b) Green Equity Investors VI, L.P., Green Equity Investors Side VI, L.P., LGP
Associates VI-A LLC and LGP Associates VI-B LLC (collectively, “LGP”), (c) Crescent Mezzanine Partners VT L.P, Crescent Mezzanine Partners VIE Cayman
L.P., Crescent Mezzanine Partners VTC L.P., (collectively, “Crescent”), (d) Penfund Capital Fund IV Limited Partnership (“Penfund”) and (e) each of the individual stockholders who are set forth on the signature
pages hereto (each individually, a “Management Stockholder,” collectively, the “Management Stockholders”)1. 

RECITALS 
 A. The original
Stockholders Agreement of the Company, dated August 21, 2014 (the “Original Agreement”), was entered into in connection with the Reorganization (as defined in the Original Agreement); 

B. The Company is proposing to consummate an initial public offering (the “Initial Public Offering”) of its common stock, par
value $0.01 per share (the “Common Stock”), pursuant to an Underwriting Agreement, dated [ 🌑 ], 2021 (the “Underwriting Agreement”). 

C. The Initial Stockholders (as defined herein) and the Company desire to enter into this Agreement effective upon the Effective Time (as
defined herein). 
 D. The Board of Directors of the Company (the “Board of Directors”) has approved this Agreement. 

E. The parties to this Agreement desire to agree upon the respective rights and obligations after the Effective Time with respect to the
securities of the Company now or hereafter issued and outstanding and held by the parties to this Agreement and certain matters with respect to their investment in the Company. 

AGREEMENT 
 Now therefore,
in consideration of the foregoing, and the mutual agreements and covenants contained herein, the receipt and sufficiency of which are hereby acknowledged, the parties to this Agreement agree as follows: 

SECTION I. DEFINITIONS 
 1.1 Drafting
Conventions; No Construction Against Drafter. 
 (a) The headings in this Agreement are provided for convenience and do not affect its
meaning. The words “include,” “includes” and “including” are to be read as if they were followed by the phrase “without limitation.” Unless specified otherwise, any reference to an agreement means that
agreement as amended or supplemented, subject to any restrictions on amendment contained in such agreement. Unless specified otherwise, any reference to a statute or regulation means that statute or regulation as amended or supplemented from time to
time and any corresponding provisions of successor statutes or regulations. If any date specified in this Agreement as a date for taking action falls on a day that is not a business day, then that action may be taken on the next business day. Unless
specified otherwise, the words “party” and “parties” refer only to a party named in this Agreement or one who joins this Agreement as a party pursuant to the terms hereof. 

 

	1 	 Note to Company: to discuss who will be included as a “Management Stockholder.”

 (b) The language used in this Agreement shall be deemed to be the language chosen by the
parties to express their mutual intent. If an ambiguity or question of intent or interpretation arises, this Agreement is to be construed as if drafted jointly by the parties and there is to be no presumption or burden of proof or rule of strict
construction favoring or disfavoring any party because of the authorship of any provision of this Agreement. 
 1.2 Defined Terms.
The following capitalized terms, as used in this Agreement, have the meanings set forth below. 
 “Affiliate” means with
respect to any specified Person, any other Person which, directly or indirectly, controls, is controlled by or is under common control with the specified Person, including any partner, officer, director or member of the specified Person and, if the
specified Person is a private equity fund, any investment fund now or hereafter managed by, or which is controlled by or is under common control with, one or more general partners of the specified Person. For the purposes of this definition,
“control” (including, with its correlative meanings, the terms “controlled by” and “under common control with”), as used with respect to any Person, shall mean the possession, directly or indirectly, of the power to
direct, or cause the direction of the management and policies of such Person, whether through the ownership of securities, by contract or otherwise. 

“Board of Directors” has the meaning set forth in the recitals. 

“Closing” means the closing of the Initial Public Offering. 

“Common Stock” has the meaning set forth in the recitals. 

“Company” has the meaning set forth in the preamble and shall include any successor thereto. 

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

“Director” means a member of the Board of Directors. 

“Effective Time” has the meaning set forth in Section 5.16. 

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

“Initial Public Offering” has the meaning set forth in the recitals. 

“Initial Stockholders” means, collectively, LGP, Crescent, Penfund and the Management Stockholders. 

“Joinder Agreement” means the joinder agreement substantially in the form of Exhibit A.  

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

“LGP Director” has the meaning set forth in Section 4.1(a). 

  
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 “LGP Stockholders” means (i) LGP and any other investment funds
affiliated with or advised by Leonard Green & Partners, L.P. and (ii) any Permitted Transferee or Affiliate of LGP (x) which is issued Common Stock or becomes the beneficial owner of any Common Stock or is Transferred any Common
Stock by any other Person and (y) which becomes a party hereto by executing a Joinder Agreement. 
 “LGP Stockholders’
Designee” has the meaning set forth in Section 4.1(b). 
 “LGP Majority Interest” means, at any given time,
the LGP Stockholders holding a majority of the outstanding Shares held at that specified time by all LGP Stockholders. 

“Management Stockholders” has the meaning set forth in the preamble. 

“Necessary Action” means, with respect to a specified result, all commercially reasonable actions required to cause such
result that are within the power of a specified Person, including (i) voting or providing a written consent or proxy with respect to the Company Shares, (ii) causing the adoption of stockholders’ resolutions and amendments to the
organizational documents of the Company, (iii) executing agreements and instruments, (iv) making, or causing to be made, with governmental, administrative or regulatory authorities, all filings, registrations or similar actions that are
required to achieve such result and (v) causing members of the Board of Directors, subject to any fiduciary duties that such members may have as directors of the Company (including pursuant to Section 4.1(d)), to act in a certain manner,
including causing members of the Board of Directors or any nominating or similar committee of the Board of Directors to recommend the appointment of any LGP Stockholders’ Designees as provided by this Agreement. 

“Nominating Committee” has the meaning set forth in Section 4.1(c). 

“Original Agreement” has the meaning set forth in the recitals. 

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

“Permitted Transferee” means, with respect to any Stockholder, (i) any Affiliate of such Stockholder, (ii) any
director, officer or employee of any Affiliate of such Stockholder, (iii) any direct or indirect member or general or limited partner of such Stockholder that is the transferee of Shares pursuant to a pro rata distribution of Shares by such
Stockholder to its partners or members, as applicable (or any subsequent transfer of such Shares by the transferee to another Permitted Transferee), (iv) upon a Management Stockholder’s death, the Management Stockholder’s executors,
administrators, testamentary trustees, legatees and beneficiaries, or (v) any other Transferee designated as a Permitted Transferee by the LGP Majority Interest. 

“Person” means an individual, corporation, partnership, limited liability company, joint venture, association, trust,
unincorporated organization, government (or agency or political subdivision thereof) or any other entity or group (as defined in Section 13(d) of the Exchange Act). 

“SEC” means the Securities and Exchange Commission. 

“Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations thereunder. 

“Shares” means, at any time, (i) shares of Common Stock and (ii) any other equity securities now or hereafter
issued by the Company, together with any options thereon and any other shares of stock or other equity securities issued or issuable with respect thereto (whether by way of a stock dividend, stock split or in exchange for or in replacement or upon
conversion of such shares or otherwise in connection with a combination of shares, recapitalization, merger, consolidation or other corporate reorganization). 

  
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 “Stockholders” means the Initial Stockholders and any other stockholders
who from time to time become party to this Agreement by execution of a Joinder Agreement. 
 “Transfer” means any direct or
indirect transfer, donation, sale, assignment, pledge, hypothecation, grant of a security interest in or other disposal or attempted disposal of all or any portion of a security, any interest or rights in a security, or any rights under this
Agreement. 
 “Transferee” means the recipient of a Transfer. 

“Underwriting Agreement” has the meaning set forth in the recitals. 

“WKSI” means a well-known seasoned issuer, as defined in Rule 405 under the Securities Act. 

SECTION II. REPRESENTATIONS AND WARRANTIES 

2.1 Representations and Warranties of the Initial Stockholders. Each Initial Stockholder has the power and authority to enter
into this Agreement and carry out its obligations hereunder. Each of the Initial Stockholders hereby represents, warrants and covenants to the Company as follows: (a) if such Initial Stockholder is an entity, this Agreement has been duly
authorized, executed and delivered by such Stockholder; (b) this Agreement constitutes the valid and binding obligation of such Initial Stockholder enforceable against it in accordance with its terms; and (c) if such Initial Stockholder is
an entity, the execution, delivery and performance by such Initial Stockholder of this Agreement: (i) does not and will not violate any laws, rules or regulations of the United States or any state or other jurisdiction applicable to such
Initial Stockholder, or require such Initial Stockholder to obtain any approval, consent or waiver of, or to make any filing with, any Person that has not been obtained or made; and (ii) does not constitute a breach of or default under any
material agreement to which such Initial Stockholder is a party. If such Initial Stockholder is a natural person, such person has full capacity to contract. 

2.2 Representations and Warranties of the Company. The Company hereby represents, warrants and covenants to the Stockholders as
follows: (a) the Company has full corporate power and authority to enter into this Agreement and perform its obligations hereunder; (b) this Agreement constitutes the valid and binding obligation of the Company enforceable against it in
accordance with its terms; and (c) the execution, delivery and performance by the Company of this Agreement: (i) does not and will not violate any laws, rules or regulations of the United States or any state or other jurisdiction
applicable to the Company, or require the Company to obtain any approval, consent or waiver of, or to make any filing with, any Person that has not been obtained or made; and (ii) does not and will not result in a breach of, constitute a
default under, accelerate any obligation under or give rise to a right of termination of any indenture or loan or credit agreement or any other material agreement, contract, instrument, mortgage, lien, lease, permit, authorization, order, writ,
judgment, injunction, decree, determination or arbitration award to which the Company is a party or by which the property of the Company is bound or affected, or result in the creation or imposition of any mortgage, pledge, lien, security interest
or other charge or encumbrance on any of the assets or properties of the Company. 

  
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 SECTION III. REGISTRATION RIGHTS 

3.1 Demand and Piggyback Rights. 

(a) Right to Demand a Non-Shelf Registered Offering. Upon the demand of one or more LGP
Stockholders at any time and from time to time after the expiration or waiver of the underwriter lock-up period applicable to such LGP Stockholder in connection with the Initial Public Offering, the Company
will facilitate in the manner described in this Agreement a non-shelf registered offering of the Shares requested by the demanding LGP Stockholders to be included in such offering. A demand by LGP Stockholders
for a non-shelf registered offering that will result in the imposition of a lockup on the Company and the Stockholders may not be made unless the Shares requested to be sold by the demanding LGP Stockholders
in such offering have an aggregate market value (based on the most recent closing price of the Common Stock at the time of the demand) of at least $100 million or such lesser amount if all Shares held by the demanding LGP Stockholders are
requested to be sold. Subject to Section 3.2(e) below, any demanded non-shelf registered offering may, at the Company’s option, include Shares to be sold by the Company for its own account and will
also include Shares to be sold by other Stockholders or other holders of Shares with similar rights that exercise their related piggyback rights on a timely basis. 

(b) Right to Piggyback on a Non-Shelf Registered Offering. In connection with any registered
offering of Common Stock covered by a non-shelf registration statement (whether pursuant to the exercise of demand rights or at the initiative of the Company), the Stockholders may exercise piggyback rights to
have included in such offering Shares held by them. The Company will facilitate in the manner described in this Agreement any such non-shelf registered offering. 

(c) Right to Demand and be Included in a Shelf Registration. Upon the demand of one or more LGP Stockholders, made at any time and from
time to time when the Company is eligible to utilize Form S-3 or a successor form to sell Shares in a secondary offering on a delayed or continuous basis in accordance with Rule 415 under the Securities Act,
the Company will facilitate in the manner described in this Agreement a shelf registration of Shares held by them. Any shelf registration filed by the Company covering Shares (whether pursuant to a LGP Stockholder demand or at the initiative of the
Company) will cover Shares held by each of the Stockholders (regardless of whether they demanded the filing of such shelf or not) up to an equivalent percentage of their original respective holdings as may be agreed upon by the demanding LGP
Stockholders. If at the time of such request the Company is a WKSI, such shelf registration may, at the request of such LGP Stockholders, cover an unspecified number of Shares to be sold by the Company and the Stockholders. 

(d) Demand and Piggyback Rights for Shelf Takedowns. Upon the demand of one or more LGP Stockholders made at any time and from time to
time, the Company will facilitate in the manner described in this Agreement a “takedown” of Shares off of an effective shelf registration statement. In connection with any underwritten shelf takedown (whether pursuant to the exercise of
such demand rights or at the initiative of the Company), the Stockholders may exercise piggyback rights to have included in such takedown Shares held by them that are registered on such shelf. Notwithstanding the foregoing, LGP Stockholders may not
demand a shelf takedown for an offering that will result in the imposition of a lockup on the Company and the Stockholders unless the Shares requested to be sold by the demanding Stockholders in such takedown have an aggregate market value (based on
the most recent closing price of the Common Stock at the time of the demand) of at least $100 million or such lesser amount if all Shares held by the demanding LGP Stockholders are requested to be sold. 

(e) Right to Reload a Shelf. Upon the written request of an LGP Stockholder at such time when the Company is not a WKSI, the Company
will file and seek the effectiveness of a post-effective amendment to an existing shelf registration statement in order to register up to the number of Shares previously taken down off of such shelf and not yet “reloaded” onto such shelf
registration statement. 
 (f) Limitations on Demand and Piggyback Rights. 

(i) Any demand for the filing of a registration statement or for a registered offering or takedown will be subject to the
constraints of any applicable lockup arrangements, and such demand must be deferred until such lockup arrangements no longer apply. If a demand has been made for a non-shelf registered offering or for an
underwritten takedown, no further demands 

  
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may be made so long as the related offering is still being pursued. Notwithstanding anything in this Agreement to the contrary, the Stockholders will not have piggyback or other registration
rights with respect to registered primary offerings by the Company (i) in connection with registrations on Form S-4 or Form S-8 promulgated by the SEC or any
successor or similar forms, (ii) where the Shares are not being sold for cash or (iii) where the offering is a bona fide offering of securities other than Shares, even if such securities are convertible into or exchangeable or exercisable
for Shares. 
 (ii) The Stockholders shall not be permitted to sell any securities pursuant to Section 3.1 at any time
that the Board of Directors determines in good faith that it would be materially detrimental to the Company or its stockholders for sales of securities to be made; provided that all Stockholders shall be treated consistently in connection with each
such determination; and provided further, that the Company shall promptly notify each Stockholder in writing of any such action and provided further, that any such delay may not last more than sixty (60) days and such delays may not be in
effect more than one hundred and twenty (120) days during any three hundred and sixty-five (365) day period. 
 3.2 Notices,
Cutbacks and Other Matters. 
 (a) Notifications Regarding Registration Statements. In order for one or more LGP Stockholders to
exercise their right to demand that a registration statement be filed, they must so notify the Company in writing indicating the number of Shares sought to be registered and the proposed plan of distribution. The Company will use its best efforts to
keep the Stockholders reasonably apprised of all pertinent aspects of its pursuit of any registration, whether pursuant to a LGP Stockholder demand or otherwise, with respect to which a piggyback opportunity is available (and in any event, at least
five (5) days before a filing of a registration statement). Pending any required public disclosure and subject to applicable legal requirements, the parties will maintain the confidentiality of these discussions. 

(b) Notifications Regarding Registration Piggyback Rights. Any Stockholder wishing to exercise its piggyback rights with respect to a non-shelf registration statement must notify the Company and the other Stockholders of the number of Shares it seeks to have included in such registration statement. Such notice must be given as soon as practicable,
but in no event later than 5:00 pm, New York City time, on the second trading day prior to (i) if applicable, the date on which the preliminary prospectus intended to be used in connection with
pre-effective marketing efforts for the relevant offering is expected to be finalized, and (ii) in any case, the date on which the pricing of the relevant offering is expected to occur. No such notice is
required in connection with a shelf registration statement, as Shares held by all Stockholders will be included up to the applicable percentage. 

(c) Notifications Regarding Demanded Underwritten Takedowns. 

(i) The Company will use its best efforts to keep the Stockholders reasonably apprised of all pertinent aspects of any
underwritten shelf takedown in order that they may have a reasonable opportunity to exercise their related piggyback rights (and in any event, at least five (5) days before a filing of a prospectus supplement). Without limiting the
Company’s obligation as described in the preceding sentence, having a reasonable opportunity requires that the Stockholders be notified by the Company of an anticipated underwritten takedown (whether pursuant to a demand made by the LGP
Stockholders or made at the Company’s own initiative) no later than 5:00 pm, New York City time, on (i) if applicable, the second trading day prior to the date on which the preliminary prospectus or prospectus supplement intended to be
used in connection with pre-pricing marketing efforts for such takedown is finalized, and (ii) in all cases, the second trading day prior to the date on which the pricing of the relevant takedown occurs.

  
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 (ii) Any Stockholder wishing to exercise its piggyback rights with respect
to an underwritten shelf takedown must notify the Company and the other Stockholders of the number of Shares it seeks to have included in such takedown. Such notice must be given as soon as practicable, but in no event later than 5:00 pm, New York
City time, on (i) if applicable, the trading day prior to the date on which the preliminary prospectus or prospectus supplement intended to be used in connection with marketing efforts for the relevant offering is expected to be finalized, and
(ii) in all cases, the trading day prior to the date on which the pricing of the relevant takedown occurs. 
 (iii)
Pending any required public disclosure and subject to applicable legal requirements, the parties will maintain appropriate confidentiality of their discussions regarding a prospective underwritten takedown. 

(d) Plan of Distribution, Underwriters and Counsel. If (i) a majority of the Shares proposed to be sold in an underwritten offering
through a non-shelf registration statement or through a shelf takedown are being sold by the Company for its own account and (ii) such offering was initiated by the Company and not by any LGP Stockholder,
the Company will be entitled to determine the plan of distribution and select the managing underwriters for such offering. Otherwise, the Stockholders holding a majority of the Shares requested to be included in such offering will be entitled to
determine the plan of distribution and select the managing underwriters, and such majority will also be entitled to select counsel for the selling Stockholders (which may be the same as counsel for the Company). In the case of a shelf registration
statement, the plan of distribution will provide as much flexibility as is reasonably possible, including with respect to resales by transferee Stockholders. 

(e) Cutbacks. If the managing underwriters advise the Company and the selling Stockholders that, in their opinion, the number of Shares
requested to be included in an underwritten offering exceeds the amount that can be sold in such offering without adversely affecting the distribution of the Shares being offered, such offering will include only the number of Shares that the
underwriters advise can be sold in such offering. 
 (i) In the case of a registered offering upon the demand of one or more
LGP Stockholders, the selling Stockholders (including those Stockholders exercising piggyback rights pursuant to Section 3.1(b)) collectively will have first priority and will be subject to cutback pro rata based on the number of Shares
initially requested by them to be included in such offering. To the extent of any remaining capacity, all other stockholders having similar registration rights will have second priority and will be subject to cutback pro rata based on the number of
Shares initially requested by them to be included in such offering. To the extent of any remaining capacity, the Company will have third priority. Except as contemplated by the immediately preceding three sentences, other selling stockholders (other
than transferees to whom a Stockholder has assigned its rights under this Agreement) will be included in an underwritten offering only with the consent of Stockholders holding a majority of the Shares being sold in such offering. 

(ii) In the case of a registered offering upon the initiative of the Company, the Company will have first priority. To the
extent of any remaining capacity, the selling Stockholders as a group, on the one hand, and all other stockholders having similar registration rights as a group, on the other hand, will be subject to cutback pro rata based on the number of Shares
initially requested by such group to be included in such offering. The selling Stockholders will be subject to cutback pro rata, based on the number of Shares initially requested by them to be included in such offering. Except as contemplated by the
immediately preceding sentence, other stockholders (other than transferees to whom a Stockholder has assigned its rights under this Agreement) will be included in an underwritten offering only with the consent of a LGP Majority Interest. 

  
 7 

 (f) Withdrawals. Even if Shares held by a LGP Stockholder have been part of a
registered underwritten offering, such LGP Stockholder may, no later than the time at which the public offering price and underwriters’ discount are determined with the managing underwriter, decline to sell all or any portion of the Shares
being offered for its account. 
 (g) Lockups. In connection with any underwritten offering of Shares following the Initial Public
Offering, the Company and each participating Stockholder hereby agree to be bound by the underwriting agreement’s lockup restrictions (which must apply, and continue to apply, in like manner to all of them) that are agreed to (a) by the
Company, if a majority of the Shares being sold in such offering are being sold for its account or (b) by LGP Stockholders holding a majority of Shares being sold by all LGP Stockholders, if a majority of the Shares being sold in such offering
are being sold by LGP Stockholders, as applicable; provided, however, that in no event following the Initial Public Offering shall such lockup restrictions last more than 90 days. 

(h) Expenses. All expenses incurred in connection with any registration statement or registered offering covering Shares held by
Stockholders, including, without limitation, all registration and filing fees, printing expenses, fees and disbursements of counsel (provided that the Company shall only be responsible for the fees and disbursements of one outside counsel for all of
the Stockholders) and of the independent certified public accountants, and the expense of qualifying such Shares under state blue sky laws, will be borne by the Company. However, underwriters’, brokers’ and dealers’ discounts and
commissions applicable to Shares sold for the account of a Stockholder will be borne by such Stockholder. 
 (i) Coordination of
Sales of Common Stock. From the Initial Public Offering until the twelve month anniversary of the consummation of the Initial Public Offering, neither Crescent nor Penfund will Transfer (including pursuant to Rule 144 under the Securities
Act) any Shares other than (i) pursuant to the exercise of piggyback rights under Section 3.1 and (ii) to Permitted Transferees. If the LGP Stockholders Transfer any Shares prior to the twelve month anniversary of the consummation of
the Initial Public Offering other than (i) pursuant to Section 3.1, (ii) to Permitted Transferees and (iii) as a pledge or grant of a security interest in any or all of its Shares to a lender or lenders (or any collateral agent or
trustee acting therefor) to secure loans made to such Stockholder or any of its Affiliates or a Transfer of such Shares to any such lender or lenders (or any such agent or trustee), as pledgee, as a result of a foreclosure of such pledge or security
interest, the LGP Stockholders will offer Crescent and Penfund the opportunity to piggyback on such Transfer as if such Transfer was a “takedown” of Shares off of an effective shelf registration statement pursuant to Section 3.1(d).

 3.3 Facilitating Registrations and Offerings. 

(a) General. If the Company becomes obligated under this Agreement to facilitate a registration and offering of Shares on behalf of the
Stockholders, the Company will do so with the same degree of care and dispatch as would reasonably be expected in the case of a registration and offering by the Company of Shares for its own account. Without limiting this general obligation, the
Company will fulfill its specific obligations as described in this Section 3.3. 
 (b) Registration Statements. In connection
with each registration statement that is demanded by the LGP Stockholders or as to which piggyback rights otherwise apply, the Company will: 

(i) prepare and file (or confidentially submit) with the SEC a registration statement covering the applicable Shares,
(ii) prepare and file (or confidentially submit) such amendments or supplements to such registration statement and the prospectus used in connection therewith as may be necessary to keep such registration statement effective for a period ending
when all of the securities covered by such registration statement have been disposed of in 

  
 8 

 
accordance with the intended methods of distribution by the sellers thereof set forth in such registration statement (but not in any event before the expiration of any longer period required
under the Securities Act or, if such registration statement relates to an underwritten public offering, such longer period as in the opinion of counsel for the underwriters a prospectus is required by law to be delivered in connection with the sale
of Shares by an underwriter or dealer), (iii) seek the effectiveness thereof, and (iv) file with the SEC prospectuses and prospectus supplements as may be required, all in consultation with the LGP Stockholders and as reasonably necessary in
order to permit the offer and sale of the such Shares in accordance with the applicable plan of distribution; 
  

	 	(ii)	 (1) within a reasonable time prior to the filing of any registration statement, any prospectus, any amendment
to a registration statement, amendment or supplement to a prospectus or any free writing prospectus, provide copies of such documents to the selling Stockholders and to the underwriter or underwriters of an underwritten offering, if applicable, and
to their respective counsel; fairly consider such reasonable changes in any such documents prior to or after the filing thereof as the counsel to the Stockholders or the underwriter or the underwriters may request; and make such of the
representatives of the Company as shall be reasonably requested by the selling Stockholders or any underwriter available for discussion of such documents; 

(2) within a reasonable time prior to the filing of any document which is to be incorporated by reference into a registration statement or a
prospectus, provide copies of such document to counsel for the Stockholders and underwriters; fairly consider such reasonable changes in such document prior to or after the filing thereof as counsel for such Stockholders or such underwriter shall
request; and make such of the representatives of the Company as shall be reasonably requested by such counsel available for discussion of such document; 

(iii) cause each registration statement and the related prospectus and any amendment or supplement thereto, as of the effective
date of such registration statement, amendment or supplement and during the distribution of the registered Shares (x) to comply in all material respects with the requirements of the Securities Act and the rules and regulations of the SEC and
(y) not to contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading; 

(iv) notify each Stockholder promptly, and, if requested by such Stockholder, confirm such advice in writing, (i) when a
registration statement has become effective and when any post-effective amendments and supplements thereto become effective if such registration statement or post-effective amendment is not automatically effective upon filing pursuant to Rule 462
under the Securities Act, (ii) of the issuance by the SEC or any state securities authority of any stop order, injunction or other order or requirement suspending the effectiveness of a registration statement or the initiation or threatening of
any proceedings for that purpose, (iii) if, between the effective date of a registration statement and the closing of any sale of securities covered thereby pursuant to any agreement to which the Company is a party, the representations and
warranties of the Company contained in such agreement cease to be true and correct in all material respects or if the Company receives any notification with respect to the suspension of the qualification of the Shares for sale in any jurisdiction or
the initiation of any proceeding for such purpose, and (iv) of the happening of any event during the period a registration statement is effective as a result of which such registration statement or the related prospectus contains any untrue
statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading and, if required by applicable law, prepare and file a supplement or amendment to such
registration statement or prospectus so that, as thereafter delivered to the purchasers of Shares registered thereby, such registration statement or prospectus will not contain an untrue statement of a material fact or omit to state any fact
necessary to make the statements therein not misleading; 

  
 9 

 (v) furnish counsel for each underwriter, if any, and for the Stockholders
copies of any correspondence with the SEC or any state securities authority relating to the registration statement or prospectus; 

(vi) otherwise comply with all applicable rules and regulations of the SEC, including making available to its security holders
an earnings statement covering at least 12 months which shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder (or any similar provision then in force); 

(vii) use all reasonable efforts to obtain the withdrawal of any order suspending the effectiveness of a registration statement
at the earliest possible time; 
 (c) Non-Shelf Registered Offerings and Shelf Takedowns. In
connection with any non-shelf registered offering or shelf takedown that is demanded by the LGP Stockholders or as to which piggyback rights otherwise apply, the Company will: 

(i) cooperate with the selling Stockholders and the sole underwriter or managing underwriter of an underwritten offering of
Shares, if any, to facilitate the timely preparation and delivery of certificates representing the Shares to be sold and not bearing any restrictive legends; and enable such Shares to be in such denominations (consistent with the provisions of the
governing documents thereof) and registered in such names as the selling Stockholders or the sole underwriter or managing underwriter of an underwritten offering of Shares, if any, may reasonably request at least five days prior to any sale of such
Shares; 
 (ii) furnish to each Stockholder and to each underwriter, if any, participating in the relevant offering, without
charge, as many copies of the applicable prospectus, including each preliminary prospectus, and any amendment or supplement thereto and such other documents as such Stockholder or underwriter may reasonably request in order to facilitate the public
sale or other disposition of the Shares; the Company hereby consents to the use of the prospectus, including each preliminary prospectus, by each such Stockholder and underwriter in connection with the offering and sale of the Shares covered by the
prospectus or the preliminary prospectus; 
 (iii) (i) use all reasonable efforts to register or qualify the Shares
being offered and sold, no later than the time the applicable registration statement becomes effective, under all applicable state securities or “blue sky” laws of such jurisdictions as each underwriter, if any, or any Stockholder holding
Shares covered by a registration statement, shall reasonably request; (ii) use all reasonable efforts to keep each such registration or qualification effective during the period such registration statement is required to be kept effective;
(iii) comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement during such period in accordance with the intended methods of disposition by the sellers thereof set
forth in the registration statement and (iv) do any and all other acts and things which may be reasonably necessary or advisable to enable each such underwriter, if any, and Stockholder to consummate the disposition in each such jurisdiction of
such Shares owned by such Stockholder; provided, however, that the Company shall not be obligated to qualify as a foreign corporation or as a dealer in securities in any jurisdiction in which it is not so qualified or to consent to be
subject to general service of process (other than service of process in connection with such registration or qualification or any sale of Shares in connection therewith) in any such jurisdiction; 

  
 10 

 (iv) cause all Shares being sold to be qualified for inclusion in or listed
on the principal U.S. securities exchange on which the Common Stock is then so qualified or listed; 
 (v) cooperate and
assist in any filings required to be made with Financial Industry Regulatory Authority and in the performance of any due diligence investigation by any underwriter in an underwritten offering; 

(vi) use all reasonable efforts to facilitate the distribution and sale of any Shares to be offered pursuant to this Agreement,
including without limitation by making road show presentations, holding meetings with and making calls to potential investors and taking such other actions as shall be requested by the Stockholders or the lead managing underwriter of an underwritten
offering; and 
 (vii) enter into customary agreements (including, in the case of an underwritten offering, underwriting
agreements in customary form, and including provisions with respect to indemnification and contribution in customary form and consistent with the provisions relating to indemnification and contribution contained herein) and take all other customary
and appropriate actions in order to expedite or facilitate the disposition of such Shares and in connection therewith: 
 (1) make such
representations and warranties to the selling Stockholders and the underwriters, if any, in form, substance and scope as are customarily made by issuers to underwriters in similar underwritten offerings; 

(2) obtain opinions of counsel to the Company and updates thereof (which counsel and opinions (in form, scope and substance) shall be
reasonably satisfactory to the lead managing underwriter, if any) addressed to each selling Stockholder and the underwriters, if any, covering the matters customarily covered in opinions requested in sales of securities or underwritten offerings and
such other matters as may be reasonably requested by such Stockholders and underwriters; 
 (3) obtain “cold comfort” letters and
updates thereof from the Company’s independent certified public accountants addressed to the selling Stockholders, if permissible, and the underwriters, if any, which letters shall be customary in form and shall cover matters of the type
customarily covered in “cold comfort” letters to underwriters in connection with primary underwritten offerings; 
 (4) to the
extent requested by the LGP Shareholders, cause the Company’s directors and executive officers to enter into lock-up agreements in customary form; and 

(5) to the extent requested and customary for the relevant transaction, enter into a securities sales agreement with the Stockholders
providing for, among other things, the appointment of such representative as agent for the selling Stockholders for the purpose of soliciting purchases of Shares, which agreement shall be customary in form, substance and scope and shall contain
customary representations, warranties and covenants. 

  
 11 

 The above shall be done at such times as customarily occur in similar registered offerings
or shelf takedowns. 
 (d) Due Diligence. In connection with each registration and offering of Shares to be sold by Stockholders, the
Company will, in accordance with customary practice, make available for inspection by representatives of the Stockholders participating in such offering and underwriters and any counsel or accountant retained by such Stockholder or underwriters all
relevant financial and other records, pertinent corporate documents and properties of the Company and cause appropriate officers, managers and employees of the Company to supply all information reasonably requested by any such representative,
underwriter, counsel or accountant in connection with their due diligence exercise. 
 (e) Information from Stockholders. Each
Stockholder that holds Shares covered by any registration statement will furnish to the Company such information regarding itself as is required to be included in the registration statement, the ownership of Shares by such Stockholder and the
proposed distribution by such Stockholder of such Shares as the Company may from time to time reasonably request in writing. 
 3.4
Indemnification. 
 (a) Indemnification by the Company. In the event of any registration under the Securities Act by any
registration statement pursuant to rights granted in this Agreement of Shares held by the Stockholders, the Company will hold harmless the Stockholders and each underwriter of such securities and each other person, if any, who controls any
Stockholder or such underwriter within the meaning of the Securities Act, against any losses, claims, damages, or liabilities (including legal fees and costs of court), joint or several, to which the Stockholders or such underwriter or controlling
person may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages, or liabilities (or any actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any
material fact (i) contained, on its effective date, in any registration statement under which such securities were registered under the Securities Act or any amendment or supplement to any of the foregoing, or which arise out of or are based
upon the omission or alleged omission to state a material fact required to be stated therein or necessary to make the statements therein not misleading or (ii) contained in any preliminary prospectus, if used prior to the effective date of such
registration statement, or in the final prospectus (as amended or supplemented if the Company shall have filed with the SEC any amendment or supplement to the final prospectus), or which arise out of or are based upon the omission or alleged
omission (if so used) to state a material fact required to be stated in such prospectus or necessary to make the statements in such prospectus not misleading; and will reimburse the Stockholders and each such underwriter and each such controlling
person for any legal or any other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, or liability; provided, however, that the Company shall not be liable to any Stockholder or its
underwriters or controlling persons in any such case to the extent that any such loss, claim, damage, or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in such
registration statement or such amendment or supplement, in reliance upon and in conformity with information furnished to the Company through a written instrument duly executed by the Stockholders or such underwriter specifically for use in the
preparation thereof. 
 (b) Indemnification by the Stockholders. Each Stockholder will indemnify and hold harmless (in the same
manner and to the same extent as set forth in Section 3.4(a)) the Company, each director of the Company, each officer of the Company who shall sign the registration statement, and any person who controls the Company within the meaning of the
Securities Act, (i) with respect to any statement or omission from such registration statement, or any amendment or supplement to it, if such statement or omission was made in reliance upon and in conformity with information furnished to the
Company through a written instrument duly executed by such Stockholder specifically regarding such Stockholder for use in the preparation of such registration statement or amendment or supplement, and (ii) with respect to compliance by such
Stockholder with applicable laws in effecting the sale or other disposition of the securities covered by such registration statement. 

  
 12 

 (c) Indemnification Procedures. Promptly after receipt by an indemnified party of
notice of the commencement of any action involving a claim referred to in Section 3.4(a) and Section 3.4(b), the indemnified party will, if a resulting claim is to be made or may be made against and indemnifying party, give written notice
to the indemnifying party of the commencement of the action. The failure of any indemnified party to give notice shall not relieve the indemnifying party of its obligations in this Section 3.4, except to the extent that the indemnifying party
is actually prejudiced by the failure to give notice. If any such action is brought against an indemnified party, the indemnifying party will be entitled to participate in and to assume the defense of the action with counsel reasonably satisfactory
to the indemnified party, and after notice from the indemnifying party to such indemnified party of its election to assume defense of the action, the indemnifying party will not be liable to such indemnified party for any legal or other expenses
incurred by the latter in connection with the action’s defense. An indemnified party shall have the right to employ separate counsel in any action or proceeding and participate in the defense thereof, but the fees and expenses of such counsel
shall be at such indemnified party’s expense unless (a) the employment of such counsel has been specifically authorized in writing by the indemnifying party, which authorization shall not be unreasonably withheld, (ii) the
indemnifying party has not assumed the defense and employed counsel reasonably satisfactory to the indemnified party within 30 days after notice of any such action or proceeding, or (iii) the named parties to any such action or proceeding
(including any impleaded parties) include the indemnified party and the indemnifying party and the indemnified party shall have been advised by such counsel that there may be one or more legal defenses available to the indemnified party that are
different from or additional to those available to the indemnifying party (in which case the indemnifying party shall not have the right to assume the defense of such action or proceeding on behalf of the indemnified party), it being understood,
however, that the indemnifying party shall not, in connection with any one such action or separate but substantially similar or related actions in the same jurisdiction arising out of the same general allegations or circumstances, be liable for the
reasonable fees and expenses of more than one separate firm of attorneys (in addition to all local counsel which is necessary, in the good faith opinion of both counsel for the indemnifying party and counsel for the indemnified party in order to
adequately represent the indemnified parties) for the indemnified party and that all such fees and expenses shall be reimbursed as they are incurred upon written request and presentation of invoices. Whether or not a defense is assumed by the
indemnifying party, the indemnifying party will not be subject to any liability for any settlement made without its consent. No indemnifying party will consent to entry of any judgment or enter into any settlement which (i) does not include as
an unconditional term the giving by the claimant or plaintiff, to the indemnified party, of a release from all liability in respect of such claim or litigation or (ii) involves the imposition of equitable remedies or the imposition of any non-financial obligations on the indemnified party. 
 (d) Contribution. If the indemnification
required by this Section 3.4 from the indemnifying party is unavailable to or insufficient to hold harmless an indemnified party in respect of any indemnifiable losses, claims, damages, liabilities, or expenses, then the indemnifying party
shall contribute to the amount paid or payable by the indemnified party as a result of such losses, claims, damages, liabilities, or expenses in such proportion as is appropriate to reflect (i) the relative benefit of the indemnifying and
indemnified parties and (ii) if the allocation in clause (i) is not permitted by applicable law, in such proportion as is appropriate to reflect the relative benefit referred to in clause (i) and also the relative fault of the
indemnified and indemnifying parties, in connection with the actions which resulted in such losses, claims, damages, liabilities, or expenses, as well as any other relevant equitable considerations. The relative fault of the indemnifying party and
the indemnified party shall be determined by reference to, among other things, whether any action in question, including any untrue or alleged untrue statement of a material fact, 

  
 13 

 
has been made by, or relates to information supplied by, such indemnifying party or parties, and the parties’ relative intent, knowledge, access to information, and opportunity to correct or
prevent such action. The amount paid or payable by a party as a result of the losses, claims, damage, liabilities, and expenses referred to above shall be deemed to include any legal or other fees or expenses reasonably incurred by such party in
connection with any investigation or proceeding. The Company and the Stockholders agree that it would not be just and equitable if contribution pursuant to this Section 3.4(d) were determined by pro rata allocation or by any other method of
allocation which does not take account of the equitable considerations referred to in the prior provisions of this Section 3.4(d). Notwithstanding the provisions of this Section 3.4(d), no indemnifying party shall be required to contribute
any amount in excess of the amount by which the total price at which the securities were offered to the public by the indemnifying party exceeds the amount of any damages which the indemnifying party has otherwise been required to pay by reason of
an untrue statement or omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person who was not guilty of such a fraudulent
misrepresentation. 
 (e) Non-Exclusive Remedy. The indemnification and contribution provided
for under this Agreement will be in addition to any other rights to indemnification or contribution that any indemnified party may have pursuant to law or contract (and the Company and its subsidiaries shall be considered the indemnitors of first
resort in all such circumstances to which this Section 3 applies) and will remain in full force and effect regardless of any investigation made by or on behalf of the indemnified party or any officer, director or controlling Person of such
indemnified party and will survive the transfer of Shares and the termination or expiration of this Agreement. 
 3.5 Rule 144. If
the Company is subject to the requirements of Section 13, 14 or 15(d) of the Exchange Act, the Company covenants that it will file any reports required to be filed by it under the Securities Act and the Exchange Act (or, if the Company is
subject to the requirements of Section 13, 14 or 15(d) of the Exchange Act but is not required to file such reports, it will, upon the request of LGP Stockholder, make publicly available such information) and it will take such further action as
any Stockholder may reasonably request, so as to enable such Stockholder to sell Shares without registration under the Securities Act within the limitation of the exemptions provided by (a) Rule 144 under the Securities Act, as such Rule may be
amended from time to time, or (b) any similar rule or regulation hereafter adopted by the SEC. Upon the request of any Stockholder, the Company will deliver to such Stockholder a written statement as to whether it has complied with such
requirements. 
 SECTION IV. CORPORATE GOVERNANCE 

4.1 Board of Directors. 

(a) Composition of Initial Board. As of the Closing, the Board of Directors shall be comprised of seven (7) directors, the
following four (4) of whom shall be deemed to have been designated by the LGP Stockholders (each, a “LGP Director”): Jeffrey Suer, J. Kristofer Galashan, Jonathan Seiffer, and John Danhakl. The foregoing directors shall be
divided into three classes of directors, each of whose members shall serve for staggered three-year terms as follows: 
 (i)
the class I directors shall initially include John Lai, Jonathan Seiffer and John Danhakl; 
 (ii) the class II directors
shall initially include J. Kristofer Galashan and Jeffery Suer; and 

  
 14 

 (iii) the class III directors shall initially include Dorvin Lively and
Susan Docherty. 
 The initial term of the class I directors shall expire immediately following the Company’s 2022 annual meeting of
stockholders at which directors are elected. The initial term of the class II directors shall expire immediately following the Company’s 2023 annual meeting of stockholders at which directors are elected. The initial term of the class III
directors shall expire immediately following the Company’s 2024 annual meeting at which directors are elected. 
 (b) LGP
Stockholders’ Representation. For so long as the LGP Stockholders hold, in the aggregate, a number of shares of Common Stock representing at least the percentages shown below of shares of Common Stock held in the aggregate by the LGP
Stockholders following the consummation of all sales of Common Stock contemplated by the Underwriting Agreement, the Company shall take all Necessary Action to include in the slate of nominees recommended by the Board of Directors for election as
directors at each applicable annual or special meeting of stockholders at which directors are to be elected that number of individuals designated by the LGP Stockholders (each, a “LGP Stockholders’ Designee”) that, if elected,
will result in the number of LGP Directors serving on the Board of Directors that is shown below. 
  

					
	 Percentage
	  	Number
of
Directors	 
	 40% or greater
	  	 	4	 
	 Less than 40% but greater than or equal to 30%
	  	 	3	 
	 Less than 30% but greater than or equal to 20%
	  	 	2	 
	 Less than 20% but greater than or equal to 10%
	  	 	1	 
	 Less than 10%
	  	 	0	 

 Upon any decrease in the number of directors that the LGP Stockholders are entitled to designate for election
to the Board of Directors, the LGP Stockholders shall, upon request from the Company, use their reasonable best efforts to cause the appropriate number of LGP Stockholders’ Designees to offer to tender his or her resignation. If such
resignation is then accepted by the Board of Directors, the Company shall cause the size of the Board of Directors to be reduced accordingly unless the Company, with the approval of a majority of the remaining Directors, determines not to reduce the
authorized size of the Board of Directors, in which case the Board of Directors shall act in accordance with the bylaws of the Company then in effect to appoint or nominate a new director to the Board of Directors. 

(c) Additional Obligations. An individual designated by the LGP Stockholders for election (including pursuant to Section 4.1(b)) as
a director shall comply with any applicable requirements of the charter for, and related guidelines of, any committee of the Board of Directors responsible for nominating directors (such committee, a “Nominating Committee”).
Notwithstanding anything to the contrary in this Section 4, in the event that the Board of Directors determines in good faith, after consultation with outside legal counsel, that its nomination, appointment or election of a particular LGP
Stockholders’ Designee pursuant to this Section 4.1 would constitute a breach of its fiduciary duties to the Company’s stockholders or does not otherwise comply with any requirements of the charter for, or related

  
 15 

 
guidelines of, the Nominating Committee, then the Board of Directors shall inform the LGP Stockholders of such determination in writing and explain in reasonable detail the basis for such
determination and shall designate another individual designated for nomination, election or appointment to the Board of Directors by the LGP Stockholders (subject in each case to this Section 4.1(c)), and the Board of Directors and the Company
shall take all of the actions required by this Section 4 with respect to the election of such substitute LGP Stockholders’ Designee. It is hereby acknowledged and agreed that the fact that a particular LGP Stockholders’ Designee is an
Affiliate, director, professional, partner, member, manager, employee or agent of the LGP Stockholders or is not an independent director shall not in and of itself constitute an acceptable basis for such determination by the Board of Directors. 

(d) Vacancies. Except as provided in Section 4.1(b), with respect to decreases in ownership of the LGP Stockholders, (i) the
LGP Stockholders shall have the exclusive right to request the removal of LGP Stockholders’ Designees from the Board of Directors in accordance with the bylaws of the Company then in effect, and the Company shall take all Necessary Action to
cause the removal (whether for or without cause) of any such LGP Stockholders’ Designee at the request of the LGP Stockholders and (ii) the LGP Stockholders shall have the exclusive right to designate directors for election to the Board of
Directors to fill vacancies (for the remainder of the then current term) created by reason of death, disability, removal or resignation of LGP Stockholders’ Designees to the Board of Directors, and the Company shall take all Necessary Action to
cause any such vacancies to be filled by replacement directors designated by the LGP Stockholders as promptly as reasonably practicable. 

(e) Committees. In accordance with the Company’s certificate of incorporation and bylaws, (i) the Board shall establish and
maintain an audit committee of the Board, as well as all other committees of the Board required in accordance with applicable Laws and stock exchange regulations, and (ii) the Board may from time to time by resolution establish and maintain
other committees of the Board. Subject to applicable laws and stock exchange regulations, and subject to requisite independence requirements applicable to such committee, the LGP Stockholders shall have the right to have one (1) LGP Director
appointed to serve on each committee of the Board for so long as the LGP Stockholders has the right to designate at least one (1) director for nomination to the Board. In furtherance of the foregoing, the Company agrees to take all Necessary
Action to have at least one (1) LGP Director appointed to serve on each committee of the Board (to the extent not prohibited by applicable Law or applicable stock exchange regulations). 

4.2 Agreement of Company. The Company hereby agrees that it will take all Necessary Actions to cause the matters addressed by this
Section 4 to be carried out in accordance with the provisions thereof. Without limiting the foregoing, the Secretary of the Company or such other officer or employee of the Company who may be fulfilling the duties of the Secretary, shall not
record any vote or consent or other action contrary to the terms of this Section 4. 
 SECTION V. MISCELLANEOUS PROVISIONS 

5.1 Access Rights. The Company shall, and shall cause its subsidiaries, officers, directors, employees, auditors and other agents to
(a) afford the LGP Stockholders and their officers, employees, auditors and other agents, during normal business hours and upon reasonable notice, at all reasonable times access to the Company’s and its subsidiaries’ officers,
employees, auditors, legal counsel, properties, offices, plants and other facilities and to all books and records, and (b) afford the LGP Stockholders and their officers, employees, auditors and other agents the opportunity to discuss the
affairs, finances and accounts of the Company and its subsidiaries with their respective officers from time to time as each such LGP Stockholder may reasonably request, in each case, until such time as such LGP Stockholder shall cease to own any
Shares. 

  
 16 

 5.2 Confidentiality. Each Stockholder agrees that it will keep confidential and will
not disclose, divulge or use for any purpose, other than to monitor its investment in the Company and its subsidiaries, any confidential information obtained from the Company pursuant to Section 5.1, unless such confidential information
(a) is known or becomes known to the public in general (other than as a result of a breach of any confidentiality obligation by such Stockholder or its affiliates), (b) is or has been independently developed or conceived by such Stockholder
without use of or reliance on the Company’s confidential information or (c) is or has been made known or disclosed to such Stockholder by a third party (other than an Affiliate of such Stockholder) without a breach of any confidentiality
obligations such third party may have to the Company that is known to such Stockholder; provided, that, a Stockholder may disclose confidential information (i) to its attorneys, accountants, consultants and other professional
advisors to the extent necessary to obtain their services in connection with monitoring its investment in the Company, (ii) to any prospective purchaser of any Shares from such Stockholder as long as such prospective purchaser executes a
confidentiality agreement with the Company, in form and substance satisfactory to the Company, (iii) to any Affiliate, partner, member, limited partners, prospective partners or related investment fund of such Stockholder and their respective
directors, employees, consultants and representatives, in each case in the ordinary course of business (provided that the recipients of such confidential information are subject to a customary confidentiality and
non-disclosure obligation, and provided further that Stockholder will remain liable to the Company for any breaches of confidentiality and nondisclosure obligations by such persons), or (iv) as may
otherwise be required by law or legal, judicial or regulatory process. 
 5.3 Reliance. Each covenant and agreement made by a party
in this Agreement or in any certificate, instrument or other document delivered pursuant to this Agreement is material, shall be deemed to have been relied upon by the other parties and shall remain operative and in full force and effect after the
Effective Time regardless of any investigation. This Agreement shall not be construed so as to confer any right or benefit upon any Person other than the parties hereto and their respective successors and permitted assigns. 

5.4 Access to Agreement; Amendment and Waiver; Actions of the Board. For so long as this Agreement shall be in effect, this Agreement
shall be made available for inspection by any Stockholder at the principal executive offices of the Company. Any party may waive in writing any provision hereof intended for its benefit, provided, that, in the case of any waiver by the Company, such
waiver is consented to in writing by the LGP Majority Interest. No failure or delay on the part of any party in exercising any right, power or remedy hereunder shall operate as a waiver thereof. The remedies provided for herein are cumulative and
are not exclusive of any remedies that may be available to any party at law or in equity or otherwise. This Agreement may be amended only with the prior written consent of the LGP Majority Interest and the Company; provided that any amendment to
this Agreement that adversely affects any Stockholder (other than any LGP Stockholder) in a disproportionate manner shall not be effective against such Stockholder without the prior written consent of such Stockholder. Any consent given as provided
in the preceding sentence shall be binding on all parties (subject to the proviso in the preceding sentence). Further, with the prior written consent of the LGP Majority Interest and the Company, at any time hereafter Permitted Transferees may be
made parties hereto, with any such additional parties shall be treated as “Stockholders” for all purposes hereunder, by executing a counterpart signature page in the form attached as Exhibit A hereto, which signature page shall be attached
to this Agreement and become a part hereof without any further action of any other party hereto. 
 5.5 Notices. All notices,
requests, demands and other communications provided for hereunder shall be in writing and mailed (by first class registered or certified mail, electronic mail, facsimile or postage prepaid), sent by express overnight courier service, or delivered to
the applicable party at the respective address indicated below: 

  
 17 

 If to the Company: 

Mister Car Wash, Inc. 

222 E 5th Street 

Tucson, Arizona 85705 

Attn: General Counsel (lfunk@mistercarwash.com) 

Facsimile: (866) 728-7752 

With a copy (which shall not constitute notice): 

Latham & Watkins LLP 

885 Third Avenue 
 New York, New
York 10022 
 Attention: 

Howard Sobel (Howard.Sobel@lw.com) 

Greg Rodgers (Greg.Rodgers@lw.com) 

Ben Cohen (Benjamin.Cohen@lw.com) 

Drew Capurro (Drew.Capurro@lw.com) 

Facsimile: (212) 751-4864 

If to the LGP Stockholders: 

c/o Leonard Green & Partners, L.P. 

11111 Santa Monica Blvd., #2000 

Los Angeles, California 90025 

Attention: [ 🌑 ] ([ 🌑 ]) 

Facsimile: [ 🌑 ] 

With a copy (which shall not constitute notice): 

Latham & Watkins LLP 

885 Third Avenue 
 New York, New
York 10022 
 Attention: 

Howard Sobel (Howard.Sobel@lw.com) 

Greg Rodgers (Greg.Rodgers@lw.com) 

Ben Cohen (Benjamin.Cohen@lw.com) 

Drew Capurro (Drew.Capurro@lw.com) 

Facsimile: (212) 751-4864 

If to any other Stockholder: 

At such Person’s address for notice as set forth in the books and records of the Company, or, as to each of the foregoing, at such other
address as shall be designated by a party in a written notice to other parties complying as to delivery with the terms of this Section 5.5. All such notices, requests, demands and other communications shall, when mailed, telegraphed or sent,
respectively, be effective (i) two days after being deposited in the mail or (ii) one day after being deposited with the express overnight courier service, respectively, addressed as aforesaid. 

  
 18 

 5.6 Counterparts; Electronic Delivery. This Agreement may be executed in two
or more counterparts, and delivered via facsimile, .pdf or other electronic transmission, each of which shall be deemed an original, but all of which together shall constitute one and the same agreement. This Agreement, the agreements referred to
herein, and each other agreement or instrument entered into in connection herewith or therewith or contemplated hereby or thereby, and any amendments hereto or thereto, to the extent executed and delivered by means of a photographic, photostatic,
facsimile or similar reproduction of such signed writing using a facsimile machine or electronic mail shall be treated in all manner and respects as an original agreement or instrument and shall be considered to have the same binding legal effect as
if it were the original signed version thereof delivered in person. At the request of any party hereto or to any such agreement or instrument, each other party hereto or thereto shall re-execute original forms
thereof and deliver them to all other parties. No party hereto or to any such agreement or instrument shall raise the use of a facsimile machine or electronic mail to deliver a signature or the fact that any signature or agreement or instrument was
transmitted or communicated through the use of a facsimile machine or electronic mail as a defense to the formation or enforceability of a contract and each such party forever waives any such defense. 

5.7 Remedies; Severability. It is specifically understood and agreed that any breach of the provisions of this Agreement by any party
will result in irreparable injury to the other parties, that the remedy at law alone will be an inadequate remedy for such breach, and that, in addition to any other legal or equitable remedies which they may have, such other parties may enforce
their respective rights by actions for specific performance or injunctive relief (to the extent permitted at law or in equity). If any one or more of the provisions of this Agreement, or the application thereof in any circumstances, is held invalid,
illegal or unenforceable in any respect for any reason, the validity, legality and enforceability of any such provision in every other respect and of the remaining provisions contained herein are not to be in any way impaired thereby, it being
intended that all of the rights and privileges of the parties be enforceable to the fullest extent permitted by law. 
 5.8 Entire
Agreement. This Agreement constitutes the entire agreement of the Parties with respect to the subject matter hereof. 
 5.9
Termination. This Agreement shall terminate on the earlier of (i) the election of the LGP Majority Interest, (ii) with respect to each LGP Stockholder, such date as the LGP Stockholder ceases to hold any Shares or (iii) with
respect any Stockholder other than an LGP Stockholder, such date as the Stockholder may sell all of its Shares without regard to volume restrictions under Rule 144 under the Securities Act; provided, that, with respect to this clause (iii), in no
event shall this Agreement terminate with respect to Crescent or Penfund until the twelve month anniversary of the consummation of the Initial Public Offering, regardless of whether Crescent or Penfund, as applicable, may sell all of its Shares
without regard to volume restrictions under Rule 144 under the Securities Act prior to such twelve month anniversary. 
 5.10 Governing
Law. This Agreement is to be construed and enforced in accordance with the laws of the State of Delaware, without giving effect to its principles or rules of conflict of laws to the extent such principles or rules are not mandatorily applicable
by statute and would require or permit the application of the laws of another jurisdiction. 
 5.11 Successors and Assigns;
Beneficiaries. This Agreement shall be binding upon and inure to the benefit of the parties and the respective successors and assigns of the parties as contemplated herein. Any successor to the Company by way of merger or otherwise must
specifically agree to be bound by the terms hereof as a condition of such succession. 
 5.12 Consent to Jurisdiction; Specific
Performance; WAIVER OF JURY TRIAL. 

  
 19 

 (a) Each of the parties hereto irrevocably and unconditionally consents to the sole and
exclusive jurisdiction of the state and federal courts located in Wilmington, Delaware to resolve all disputes, claims or controversies arising out of or relating to this Agreement or any other agreement executed and delivered pursuant to or in
connection with this Agreement or the negotiation, breach, validity, termination or performance hereof and thereof or the transactions contemplated hereby and thereby and agrees that it will not bring any such action in any court other than the
federal or state courts located in Wilmington, Delaware. Each party further irrevocably waives any objection to proceeding in such courts based upon lack of personal jurisdiction or to the laying of venue in such courts and further irrevocably and
unconditionally waives and agrees not to make a claim that such courts are an inconvenient forum. Each of the parties hereto hereby consents to service of process by registered mail at the address to which notices are to be given as provided in
Section 5.5. Each of the parties hereto agrees that its or his submission to jurisdiction and its or his consent to service of process by mail is made for the express benefit of the other parties hereto. The choice of forum set forth in this
Section shall not be deemed to preclude the enforcement of any judgment of a Delaware federal or state court, or the taking of any action under this Agreement to enforce such a judgment, in any other appropriate jurisdiction. 

(b) The parties agree that irreparable damage would occur in the event that any of the provisions of this Agreement were not performed in
accordance with their specific terms or were otherwise breached. It is accordingly agreed that the parties shall be entitled to an injunction or injunctions to prevent breaches of this Agreement and to enforce specifically the terms and provisions
of this Agreement, this being in addition to any other remedy to which such party is entitled at law or in equity. 
 (c) EACH PARTY TO THIS
AGREEMENT WAIVES TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM BROUGHT BY ANY OF THEM AGAINST THE OTHER ARISING OUT OF OR IN ANY WAY CONNECTED WITH THIS AGREEMENT, OR ANY OTHER AGREEMENTS EXECUTED AND DELIVERED PURSUANT TO OR IN CONNECTION
HEREWITH OR THE NEGOTIATION, BREACH, VALIDITY, TERMINATION OR PERFORMANCE HEREOF AND THEREOF OR THE TRANSACTIONS CONTEMPLATED HEREBY AND THEREBY. FURTHER, (I) NO PARTY TO THIS AGREEMENT SHALL SEEK A JURY TRIAL IN ANY SUCH ACTION AND
(II) NO PARTY WILL SEEK TO CONSOLIDATE ANY SUCH ACTION IN WHICH A JURY TRIAL HAS BEEN WAIVED WITH ANY OTHER ACTION IN WHICH A JURY TRIAL CANNOT BE OR HAS NOT BEEN WAIVED. EACH PARTY TO THIS AGREEMENT CERTIFIES THAT IT HAS BEEN INDUCED TO ENTER
INTO THIS AGREEMENT OR INSTRUMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS SET FORTH ABOVE IN THIS SECTION 5.12. NO PARTY HAS IN ANY WAY AGREED WITH OR REPRESENTED TO ANY OTHER PARTY THAT THE PROVISIONS OF THIS SECTION WILL NOT
BE FULLY ENFORCED IN ALL INSTANCES. 
 5.13 Further Assurances; Company Logo. At any time or from time to time after the Effective
Time, the parties hereto agree to cooperate with each other, and at the request of any other party, to execute and deliver any further instruments or documents and to take all such further action as any other party may reasonably request in order to
evidence or effectuate the provisions of this Agreement and to otherwise carry out the intent of the parties hereunder. The Company hereby grants the LGP Stockholders and their respective Affiliates permission to use the Company’s and its
subsidiaries’ name and logo in marketing materials. 
 5.14 Regulatory Matters. The Company shall and shall cause its
subsidiaries to keep the LGP Stockholders informed, on a current basis, of any events, discussions, notices or changes with respect to any criminal or regulatory investigation or action involving the Company or any of its subsidiaries, so that the
LGP Stockholders and their respective Affiliates will have the opportunity to take appropriate steps to avoid or mitigate any regulatory consequences to them that might arise from such investigation or action. 

  
 20 

 5.15 No Third Party Liability. This Agreement may only be enforced against the
named parties hereto. All claims or causes of action (whether in contract or tort) that may be based upon, arise out of or relate to this Agreement, or the negotiation, execution or performance of this Agreement (including any representation or
warranty made in or in connection with this Agreement or as an inducement to enter into this Agreement), may be made only against the entities that are expressly identified as parties hereto. 

5.16 Effectiveness of Agreement. This Agreement shall become effective (such time, the “Effective Time”) immediately
prior to the effectiveness of the Company’s registration statement on Form S-1 related to the Initial Public Offering. However, to the extent the Closing does not occur, the provisions of this
Agreement shall be without any force or effect. 
 5.17 Removal of Legends. The Company shall remove any restrictive legends on any
Shares held by any Stockholder promptly upon request by such Stockholder if such legend is not, in the reasonable determination of the Company upon the advice of legal counsel, required to comply with applicable securities laws; provided that the
Company may require an opinion of legal counsel reasonably acceptable to the Company prior to any such removal other than in connection with a transfer made pursuant to an effective registration statement. 

5.18 Inconsistent Agreements. Neither the Company nor any Stockholder shall enter into any agreement or side letter with, or grant any
proxy to, any Stockholder, the Company or any other Person (whether or not such proxy, agreements or side letters are with other Stockholders, holders of Shares that are not parties to this Agreement or otherwise) that conflicts with the provisions
of this Agreement or which would obligate such Person to breach any provision of this Agreement. 
 [SIGNATURE PAGE FOLLOWS] 

  
 21 

 IN WITNESS WHEREOF, the parties are signing this Amended and Restated Stockholders Agreement
as of the date first set forth above. 
  

			
	MISTER CAR WASH 
		
	By:	 	  

		 	Name: Jed Gold
		 	Title: Chief Financial Officer

 [Signature Page to Amended and Restated Stockholders Agreement] 

 
			
	GREEN EQUITY INVESTORS VI, L.P. 
	
	By: [GEI Capital VI, LLC, its General Partner]
		
	By:	 	  

		 	Name:
		 	Title:
	
	GREEN EQUITY INVESTORS SIDE VI, L.P. 
	
	By: [GEI Capital VI, LLC, its General Partner]
		
	By:	 	  

		 	Name:
		 	Title:
	
	LGP ASSOCIATES VI-A LLC
	
	By: [GEI Capital VI, LLC, its General Partner]
		
	By:	 	  

		 	Name:
		 	Title:
	
	LGP ASSOCIATES VI-B LLC. 
	
	By: [GEI Capital VI, LLC, its General Partner]
		
	By:	 	  

		 	Name:
		 	Title:

 [Signature Page to Amended and Restated Stockholders Agreement] 

 
			
	CRESCENT MEZZANINE PARTNERS VI, L.P.
	CRESCENT MEZZANINE PARTNERS VIC, L.P. 
	
	By: [Crescent Capital Group LP, their investment advisor]
		
	By:	 	  

		 	Name:
		 	Title:
	
	CRESCENT MEZZANINE PARTNERS VIB (CAYMAN), L.P.
	
	By: [Crescent Mezzanine VI, LLC, its general partner]
		
	By:	 	  

		 	Name:
		 	Title:

 [Signature Page to Amended and Restated Stockholders Agreement] 

 
			
	PENFUND CAPTIAL FUND IV LIMITED PARTNERSHIP,
	
	By: [Penfund Capital Partners IV Inc., its general partner]
		
	By:	 	  

		 	Name:
		 	Title:    

 [Signature Page to Amended and Restated Stockholders Agreement] 

 
			
	MANAGEMENT STOCKHOLDER 
		
	By:	 	  

		 	Name:
		 	Title:

 [Signature Page to Amended and Restated Stockholders Agreement] 

 EXHIBIT A 

Joinder Agreement 
 By execution of this
signature page, [_______________] hereby agrees to become a Party to, and to be bound by the obligations of, and receive the benefits of, that certain Amended and Restated Stockholders Agreement, dated as of
[ 🌑 ], 2021, by and among Mister Car Wash, Inc., a Delaware Corporation, [ 🌑 ], and certain other Parties named therein, as amended from time
to time thereafter. 
  

			
	[NAME]
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	Notice Address:
	  

	  

 

			
	Accepted:
	
	MISTER CAR WASH, INC.
		
	By:	 	  

	Name:	 	
	Title:EX-10.9

 Exhibit 10.9 

CAR WASH PARTNERS, INC. 

EMPLOYMENT AGREEMENT 

JOHN L. LAI 
 THIS
EMPLOYMENT AGREEMENT (this “Agreement”) is entered into on [March 4th, 2014] (“Effective Date”) by and between CAR WASH PARTNERS, INC., a Delaware corporation (the
“Company”), and JOHN L. LAI, a resident of Arizona (“Employee”). 
 A. The Company engages in the business of operating
car washes and providing related services. 
 B. Employee has been employed as Chief Executive Officer of the Company. 

C. The Company desires to continue Employee as its employee and Employee desires to be employed by the Company, subject to the terms and
conditions set forth in this Agreement. 
 D. This Agreement replaces and supersedes all prior agreements with respect to the subject matter
herein. 
 E. The Company will provide Employee with confidential and proprietary information that is essential to the Company’s
success, that the Company obtained through significant investments, and that gives the Company a competitive advantage in the marketplace for its services. 

NOW, THEREFORE, in consideration of the foregoing premises and the respective agreements of the Company and Employee set forth below, the
Company and Employee, intending to be legally bound, agree as follows: 
 1. Employment. The Company shall employ Employee, and
Employee shall accept such employment and perform services for the Company, upon the terms and conditions set forth in this Agreement. Employment shall continue until terminated by either party as provided in Section 8. 

2. Position and Duties. 

(a) Employment with the Company. Employee shall be employed by the Company as its Chief Executive Officer performing such duties and
responsibilities as the Board of Directors or its designee (the “Board”), shall assign Employee from time to time. In such capacity, Employee shall perform such services and duties in connection with the business, affairs and operations of
the Company as may be assigned or delegated to the Employee. 
 (b) Performance of Duties and Responsibilities. Employee shall serve
the Company faithfully and to the best of his ability. Employee shall abide by the policies of the Company and devote his full working time, attention and efforts to the business of the Company during his employment with the Company as is necessary
to the satisfactory performance of his 

 
responsibilities hereunder. Employee hereby represents and confirms that he is under no contractual or legal commitments that would prevent him from fulfilling his duties and
responsibilities as set forth in this Agreement. During his employment with the Company, Employee may engage in other business activities and participate in charitable and community activities and personal investment activities to a reasonable
extent, provided that such business, charitable and personal investment activities do not conflict or interfere with the performance of his duties and responsibilities hereunder. 

(c) Litigation and Regulatory Cooperation. During and after the Employee’s employment, the Employee shall cooperate fully with the
Company in the defense or prosecution of any claims or actions now in existence or which may be brought in the future against or on behalf of the Company which relate to events or occurrences that transpired while the Employee was employed by the
Company. The Employee’s full cooperation in connection with such claims or actions shall include, but not be limited to, being available to meet with counsel to prepare for discovery or trial and to act as a witness on behalf of the Company at
mutually convenient times. During and after the Employee’s employment, the Employee also shall cooperate fully with the Company in connection with any investigation or review of any federal, state or local regulatory authority as any such
investigation or review relates to events or occurrences that transpired while the Employee was employed by the Company. The Company shall reimburse the Employee for any reasonable
out-of-pocket expenses incurred in connection with the Employee’s performance of obligations pursuant to this Section 2(c). 

3. Compensation. 
 (a)
Base Salary. The Company shall pay to Employee a base salary at the annual rate of Three Hundred Fifty Thousand Dollars ($350,000.00), less deductions and withholdings, which base salary shall be paid in accordance with the Company’s
normal payroll policies and procedures. Michael Lay, Managing Partner, ONCAP shall conduct an annual performance review of Employee, discuss each annual performance review of Employee with the Board, and in consultation with the Board, establish
Employee’s base salary in an amount not less than the base salary in effect for the prior two (2) years, unless Employee’s base salary is reduced by not more than ten percent (10%) as part of a general reduction in the base salaries
for all executive officers of the Company. 
 (b) Incentive Compensation. Employee shall be eligible to participate in an annual
incentive program established by the Board or its compensation committee with such terms as may be established in the sole discretion of the Board. Employee’s target incentive compensation shall be seventy-five percent (75%) of Employee’s
base salary for the bonus period if all performance objectives established by the Company are met. Michael Lay will consult with and discuss with the Board the Employee’s level of performance against objectives before payment of any incentive
compensation. Incentive compensation is currently paid quarterly and the Company has no present intention of changing such frequency. 

  
 - 2 - 

 (c) Paid Time Off. Employee shall be entitled to paid time off (“PTO”) in
accordance with the Company’s PTO policy for executives, but in no event shall Employee be entitled to less than four weeks of annual PTO, pro rated for any year in which Employee is not employed the entire calendar year. PTO in excess of 80
hours may not be carried over to a subsequent calendar year and will be lost. Employee will not be paid cash in lieu of PTO and may not “cash-out” PTO time, except that accrued and unused PTO,
subject to the above limitation on carryover, will be paid to Employee upon termination of employment. Any change to the PTO policy for executives may be changed only with the prior written approval of the Board. 

(d) Employee Benefits. While Employee is employed by the Company, Employee shall be entitled to participate in all employee benefit
plans and programs of the Company to the extent that Employee meets the eligibility requirements for each individual plan or program. The Company provides no assurance as to the adoption or continuance of any particular employee benefit plan or
program, and Employee’s participation in any such plan or program shall be subject to the provisions, rules and regulations applicable thereto. 

(e) Expenses. While Employee is employed by the Company, the Company shall reimburse Employee for reasonable and necessary out-of-pocket business, travel and entertainment expenses incurred by him in the performance of his duties and responsibilities hereunder as directed by the Board and subject
to the Company’s normal policies and procedures for expense verification and documentation and approval by the Board or a Board designee. 

4. Confidential Information. Except as permitted by the Board, during Employee’s employment with the Company and at all times
thereafter, Employee shall not divulge, furnish or make accessible to anyone or use in any way other than in the ordinary course of the business of the Company, any confidential, proprietary or secret knowledge or information of the Company that
Employee has acquired or shall acquire during his employment with the Company, whether developed by Employee or by others, concerning (i) any trade secrets, (ii) any confidential, proprietary or secret designs, processes, formulae, plans,
devices or material (whether or not patented or patentable) directly or indirectly useful in any aspect of the business of the Company, (iii) any customer or supplier lists of the Company, (iv) any confidential, proprietary or secret
development or research work of the Company, (v) any strategic or other business, marketing or sales plans of the Company, (vi) any financial data or plans respecting the Company, or (vii) any other confidential or proprietary
information or secret aspects of the business of the Company. Employee acknowledges that the above-described knowledge and information constitutes a unique and valuable asset of the Company and represents a substantial investment of time and expense
by the Company, and that any disclosure or other use of such knowledge or information other than for the sole benefit of the Company would be wrongful and would cause irreparable harm to the Company. During Employee’s employment with the
Company, Employee shall take all necessary steps to protect the confidentiality of such knowledge and information, and refrain from any acts or omissions that would reduce the value of such knowledge or information to the Company. The foregoing
obligations of confidentiality shall not apply to any knowledge or information that (i) is now or subsequently becomes generally publicly known in the form in which it was obtained from the Company, (ii) is independently made available to
Employee in good faith by a third party who has not violated a confidential relationship with the Company, or (iii) is required to be disclosed by legal process, other than as a direct or indirect result of the breach of this Agreement by
Employee. 

  
 - 3 - 

 5. Ventures. If during Employee’s employment with the Company, Employee is
engaged in or associated with the planning or implementing of any project, program or venture involving the Company (or any of its affiliates) and a third party or parties, all rights in such project, program or venture shall belong to the Company.
Except as approved in writing by the Board, Employee shall not be entitled to any interest in any such project, program or venture or to any commission, finder’s fee or other compensation in connection therewith, other than the compensation to
be paid to Employee by the Company as provided herein. Employee shall have no interest, direct or indirect, in any customer or supplier that conducts business with the Company (or any of its affiliates), unless such interest has been disclosed in
writing to and approved by the Board before such customer or supplier seeks to do business with the Company (or any of its affiliates). Ownership by Employee, as a passive investment, of less than 2.5% of the outstanding shares of capital stock of
any corporation listed on NASDAQ or traded on a national securities exchange or publicly traded in the over-the-counter market shall not constitute a breach of this
Section 5. 
 6. Noncompetition Covenant. In consideration for Employee’s employment hereunder, the compensation and
benefits to be provided hereunder and otherwise in connection with Employee’s employment with the Company and in recognition that Employee will be provided in the course of his employment with confidential, proprietary and secret information of
the Company that is critical to its success and that provides the Company a competitive advantage in the marketplace for its services, Employee agrees to the following restrictive covenants. 

(a) Agreement Not to Compete. During Employee’s employment with the Company and during the Time Period (as defined in
Section 6(d) below), whether Executive’s termination of employment is with or without Cause (as defined below), or whether such termination is initiated by Employee or the Company, Employee shall not, directly or indirectly, in any manner
whatsoever, including without limitation as a proprietor, principal, agent, partner, officer, director, stockholder, employee, member of an association, consultant or otherwise, be engaged in any business, have any financial interest in any business
(including an interest by way of royalty or other compensation arrangements), advise, lend money to or guarantee the debts or obligations of any person which carries on business activities, which are the same as or substantially similar to or which
compete in any material respect with the business carried on by the Company or any of its subsidiaries or which the Company or any of its subsidiaries is planning to carry on during the period of Employee’s employment with the Company, if the
business owns, operates or controls, in whole or in substantial part, a facility engaged in such business activities located within a five (5) mile radius of any Company facility existing or planned at the time Employee’s employment with
the Company terminates. Ownership by Employee, as a passive investment, of less than two and one-half percent (2.5%) of the outstanding shares of capital stock of any corporation listed on NASDAQ or traded on
a national securities exchange or publicly traded in the over-the-counter market shall not constitute a breach of this Section 6(a). 

  
 - 4 - 

 (b) Agreement Not to Solicit. 

(i) Employees, Consultants and Advisors. During Employee’s employment with the Company and during the Time Period (as defined in
Section 6(d) below), whether Executive’s termination of employment is with or without Cause (as defined below), or whether such termination is initiated by Employee or the Company, Employee shall not, directly or indirectly, in any manner
or capacity, including without limitation as a proprietor, principal, agent, partner, officer, director, stockholder, employee, member of any association, consultant or otherwise, hire, engage or solicit any employee, consultant or advisor of the
Company or any of its subsidiaries, or induce or attempt to induce any employee, consultant or advisor of the Company or its subsidiaries to leave his or her employment, or terminate his or her consulting or advisory arrangement with the Company, if
such person is then an employee, consultant or advisor of the Company or was an employee, consultant or advisor of the Company or any of its affiliates at the time of the termination of Employee’s employment with the Company. 

(ii) Suppliers. During Employee’s employment with the Company and during the Time Period (as defined in Section 6(d) below),
whether Executive’s termination of employment is with or without Cause (as defined below), or whether such termination is initiated by Employee or the Company, Employee shall not, directly or indirectly, in any manner or capacity, including
without limitation as a proprietor, principal, agent, partner, officer, director, stockholder, employee, member of any association, consultant or otherwise, contact, solicit or interfere with any supplier of the Company or any of its subsidiaries
who has actively done business with the Company or its subsidiaries within the previous two (2) years (a “Supplier”) for the purpose of persuading any Supplier to change its relationship with the Company or its subsidiaries or to
restrict, limit, change the terms of, or discontinue selling any products or services to the Company or any of its subsidiaries, to reduce the amount of business which any such Supplier has customarily done with the Company or any of its
subsidiaries, or to otherwise adversely change Supplier’s relationship with the Company or any of its subsidiaries. 
 (c)
Acknowledgment. Employee hereby acknowledges that the provisions of this Section 6 are reasonable and necessary to protect the legitimate interests of the Company and its subsidiaries, including without limitation trade secrets,
confidential information, customer and supplier relationships, goodwill and loyalty, and that any violation of this Section 6 by Employee shall cause substantial and irreparable harm to the Company and its subsidiaries to such an extent that
monetary damages alone would be an inadequate remedy therefor. Therefore, in the event that Employee violates any provision of this Section 6, the Company and its subsidiaries shall be entitled to an injunction, in addition to all the other
remedies it or they may have, restraining Employee from violating or continuing to violate such provision. 
 (d) Restriction Period.
“Time Period” means the period beginning on the date that Employee commenced employment with the Company and ending on the twelve (12) month anniversary of the date of Employee’s termination of employment with the Company
(whether under this Agreement or otherwise) for any reason; provided, however, that if a court of competent jurisdiction determines that such period is unenforceable, “Time Period” shall mean the period beginning on the date of this
Agreement and ending on the nine (9) month anniversary of the date of Employee’s termination of employment with the Company (whether under this Agreement or otherwise) for any reason; provided, however, that if a court of competent
jurisdiction determines that such period is unenforceable, “Time Period” shall mean the period beginning on the date of this Agreement and ending on the six (6) month anniversary of the date of Employee’s termination with the
Company (whether under this Agreement or otherwise) for any reason. 

  
 - 5 - 

 (e) Blue Pencil Doctrine. If the duration of, the scope of, or any business activity
covered by any provision of this Section 6 is in excess of what is valid and enforceable under applicable law, such provision shall be construed to cover only that duration, scope or activity that is valid and enforceable. Employee hereby
acknowledges that this Section 6 shall be given the construction which renders its provisions valid and enforceable to the maximum extent, not exceeding its express terms, possible under applicable law. 

7. Patents, Copyrights and Related Matters. 

(a) Disclosure and Assignment. Employee shall immediately disclose to the Company any and all improvements and inventions that Employee
may conceive and/or reduce to practice individually or jointly or commonly with others while he is employed with the Company with respect to (i) any methods, processes or apparatus concerned with the development, use or production of any type
of products, goods or services sold or used by the Company, and (ii) any type of products, goods or services sold or used by the Company. Employee also shall immediately assign, transfer and set over to the Company his entire right, title and
interest in and to any and all of such inventions as are specified in this Section 7(a), and in and to any and all applications for letters patent that may be filed on such inventions, and in and to any and all letters patent that may issue, or
be issued, upon such applications. In connection therewith and for no additional compensation therefor, but at no expense to Employee, Employee shall sign any and all instruments deemed necessary by the Company for: 

 

	 	(i)	 the filing and prosecution of any applications for letters patent of the United States or of any foreign
country that the Company may desire to file upon such inventions as are specified in this Section 7(a); 

  

	 	(ii)	 the filing and prosecution of any divisional, continuation, continuation-in-part or reissue applications that the Company may desire to file upon such applications for letters patent; and 

 

	 	(iii)	 the reviving, re-examining or renewing of any of such applications for
letters patent. 

 This Section 7(a) shall not apply to any invention for which no equipment, supplies, facilities, confidential,
proprietary or secret knowledge or information, or other trade secret information of the Company was used and that was developed entirely on Employee’s own time, and (i) that does not relate (A) directly to the business of the
Company, or (B) to the Company’s actual or demonstrably anticipated research or development, or (ii) that does not result from any work performed by Employee for the Company. 

  
 - 6 - 

 (b) Copyrightable Material. All right, title and interest in all copyrightable
material that Employee shall conceive or originate individually or jointly or commonly with others, and that arise during his employment with the Company and out of the performance of his duties and responsibilities under this Agreement, shall be
the property of the Company and are hereby assigned by Employee to the Company, along with ownership of any and all copyrights in the copyrightable material. Upon request and without further compensation therefor, but at no expense to Employee,
Employee shall execute any and all papers and perform all other acts necessary to assist the Company to obtain and register copyrights on such materials in any and all countries. Where applicable, works of authorship created by Employee for the
Company in performing his duties and responsibilities hereunder shall be considered “works made for hire,” as defined in the U.S. Copyright Act. 

(c) Know-How and Trade Secrets. All know-how and trade
secret information conceived or originated by Employee that arises during the term of his employment with the Company and out of the performance of his duties and responsibilities hereunder or any related material or information shall be the
property of the Company, and all rights therein are hereby assigned by Employee to the Company. 
 8. Termination of Employment. 

(a) The Employee’s employment with the Company hereunder shall terminate immediately upon the following circumstances: 

(i) Employee’s receipt of written notice from the Company of the termination of his employment; 

(ii) Employee’s resignation of his employment with at least ninety (90) days written notice to the Company; 

(iii) Employee’s Disability (as defined below); or 

(iv) Employee’s death. 
 (b)
The date upon which Employee’s termination of employment with the Company occurs shall be the “Termination Date.” Upon termination of Employee’s employment for any reason, Employee shall promptly tender his resignation effective
on the Termination Date from all officer and director positions (subject, however, to any rights that Employee retains under the Stockholders Agreement dated April 2, 2007 between the Company’s parent company and its stockholders
(“Stockholders Agreement”)) then held by Employee with the Company or any of its affiliates. 
 9. Payments upon Termination of
Employment. 
 (a) If Employee’s employment with the Company is terminated by the Company without Cause, the Company shall pay to
Employee as severance pay an amount equal to (i) his then current base monthly salary for a period of eighteen (18) consecutive months (“Base Severance Amount”), and (ii) the maximum target incentive compensation referred to
in Section 3(b) applied to the Base Severance Amount. 

  
 - 7 - 

 (b) Any amount payable to Employee as severance pay under Section 9(a) shall be subject
to deductions and withholdings and shall be paid to Employee by the Company in eighteen (18) equal monthly installments commencing on the first normal payroll date of the Company following the expiration of all applicable rescission periods
provided by law and continuing monthly thereafter. 
 (c) If Employee’s employment with the Company is terminated by reason of
Disability or death, the Company shall pay to Employee his base salary through the last day of the month in which the Termination Date occurs. 

(d) If Employee’s employment is terminated by the Company for Cause or if the Employee abandons or resigns from his employment, the
Company shall pay Employee through the Termination Date. 
 (e) “Cause” hereunder shall mean: 

 

	 	(i)	 commission of, conviction of, or entry of a plea by Employee of nolo contendere to a felony that is
materially detrimental to the Company, its reputation, or its shareholders; 

  

	 	(ii)	 malfeasance, willful or gross misconduct, or willful dishonesty by Employee that materially and adversely
affects the business or affairs of the Company, its reputation, or its stockholders; 

  

	 	(iii)	 conviction of or entry of a plea of nolo contendere to a crime involving fraud; 

 

	 	(iv)	 material violation by Employee of the Company’s ethics/policy code, including breach of duty of loyalty to
the Company; 

  

	 	(v)	 willful failure by Employee to perform his duties and responsibilities under this Agreement, which failure has
not been cured by Employee within fifteen (15) days after written notice thereof to Employee from the Company; 

  

	 	(vi)	 inappropriate use or disclosure by Employee of the confidential information and trade secrets of the Company in
violation of this Agreement that adversely affects the business or the affairs of the Company in a material way; and 

  

	 	(vii)	 material breach by Employee not caused by the Company of any terms and conditions of this Agreement, or the
Security Holder Agreement, which breach has not been cured by Employee within fifteen (15) days after written notice thereof to Employee from the Company. 

  
 - 8 - 

 (f) “Disability” hereunder shall mean the inability of Employee to perform on a
full-time basis the duties and responsibilities of his employment with the Company, or of any other position or occupation for which he is reasonably qualified considering Employee’s age, education and past work experience, by reason of his
illness or other severe physical or mental impairment or condition that has lasted or is expected to last in excess of twelve (12) months, if such inability continues for an uninterrupted period of one hundred eighty (180) days or more
during any three hundred sixty (360) day period. A period of inability shall be “uninterrupted” unless and until Employee returns to full-time work for a continuous period of at least thirty (30) days. 

(g) In the event of termination of Employee’s employment, the sole obligation of the Company shall be its obligation to make the payments
called for by Section 9(a), 9(c), 9(d) hereof, as the case may be, and the Company shall have no other obligation to Employee or to his beneficiary or his estate, except as otherwise provided by law, under the terms of any other applicable
agreement between Employee and the Company or under the terms of any employee benefit plans or programs then maintained by the Company in which Employee participates. 

(h) Notwithstanding the foregoing provisions of this Section 9, the Company shall not be obligated to make any payments to Employee under
Section 9(a) hereof unless Employee shall have signed a release of claims in favor of the Company in a form to be prescribed by the Company acting reasonably, all applicable consideration periods and rescission periods provided by law shall
have expired and Employee is in strict compliance with the terms of Sections 4, 6, 7 and 10 hereof as of the dates of the payments. 
 (i)
This Agreement is intended to satisfy the requirements of Section 409A(a)(2), (3) and (4) of the Internal Revenue Code of 1986, as amended (“Code”), including current and future guidance and regulations interpreting such
provisions. To the extent that any provision of this Agreement fails to satisfy those requirements, the provision shall automatically be modified in a manner that, in the good-faith opinion of the Company, brings the provisions into compliance with
those requirements while preserving as closely as possible the original intent of the provision and this Agreement. 
 10. Return of
Records and Property. Upon termination of his employment with the Company, or at such earlier time requested by the Company, Employee shall promptly deliver to the Company any and all Company records and any and all Company property in his
possession or under his control, including without limitation manuals, books, blank forms, documents, letters, memoranda, notes, notebooks, reports, printouts, computer disks, computer tapes, source codes, data, tables or calculations and all copies
thereof, documents that in whole or in part contain any trade secrets or confidential, proprietary or other secret information of the Company and all copies thereof, and keys, access cards, access codes, passwords, credit cards, personal computers,
telephones and other electronic equipment belonging to the Company. 

  
 - 9 - 

 11. Remedies. 

(a) Remedies. Employee acknowledges that it would be difficult to fully compensate the Company for monetary damages resulting from any
breach by him of the provisions of Sections 4, 6, 7 or 10 hereof. Accordingly, in the event of any actual or threatened breach of any such provisions, the Company shall, in addition to any other remedies it may have, be entitled to injunctive and
other equitable relief to enforce such provisions, and such relief may be granted without the necessity of proving actual monetary damages. 

(b) Arbitration. Except for disputes arising under Sections 4, 6, 7 or 10 hereof, all disputes involving the interpretation,
construction, application or alleged breach of this Agreement and all disputes relating to the termination of Employee’s employment with the Company shall be submitted to final and binding arbitration in Tucson, Arizona, The arbitrator shall be
selected and the arbitration shall be conducted pursuant to the then most recent Employment Dispute Resolution Rules of the American Arbitration Association. The decision of the arbitrator shall be final and binding, and any court of competent
jurisdiction may enter judgment upon the award. All fees and expenses of the arbitrator shall be paid by the Company. The arbitrator shall have jurisdiction and authority to interpret and apply the provisions of this Agreement and relevant federal,
state and local laws, rules and regulations insofar as necessary to the determination of the dispute and to remedy any breaches of the Agreement and/or violations of applicable laws, but shall not have jurisdiction or authority to alter in any way
the provisions of this Agreement. The arbitrator shall have the authority to award attorneys’ fees and costs to the prevailing party. The parties hereby agree that this arbitration provision shall be in lieu of any requirement that either party
exhaust such party’s administrative remedies under federal, state or local law. 
 12. Private Information and Non-Disparagement. 
 (a) General Standard. Employee and the Company intend that the
circumstances of the termination of Employee’s employment with the Company, when it occurs for any reason other than Employee’s retirement or death, and the terms and conditions of this Agreement, will be treated as Private Information.
Accordingly, Employee and the Company will not disclose this information to anyone at any time, except as provided in Section 12 (b) below. 

(b) Exceptions. If asked about the termination of his employment with the Company, Employee and the Company may state that “the
separation was amicable” without violating this Agreement. In addition, Employee may disclose Private Information: (1) to his spouse; (2) to his attorney; (3) to his accountants or tax planners; (4) to his physician or other
health care professional who is treating or consulting with Employee; (5) in response to a lawful subpoena or as otherwise required by law; or (6) in an arbitration or legal action to enforce this Agreement. If Employee discloses Private
Information to any person identified above, he must simultaneously inform the person to whom the disclosure is being made that he or she may not disclose such Private information to any other person without the advance written consent of Employee
and the Company. The Company may disclose Private Information (1) to its auditors; (2) to its attorneys; (3) to its employees, representatives, and agents who have a legitimate reason to obtain the Private Information in the course of
performing their duties or responsibilities for the Company; (4) to a prospective purchaser of the Company or of a majority of its assets; (5) in response to a lawful subpoena or as otherwise required by law; or (6) in an arbitration
or legal action to enforce this Agreement. 

  
 - 10 - 

 (c) Non-Disparagement. Employee will not
disparage, defame, or denigrate the reputation, character, image, products, or services of the Company, or of any of its parents or affiliates, or any of its or their directors, officers, shareholders, members, employees, or agents. The Company will
not disparage, defame, or denigrate the reputation, character, or image of Employee. 
 13. Miscellaneous. 

(a) Governing Law. All matters relating to the interpretation, construction, application, validity and enforcement of this Agreement
shall be governed by the laws of the State of Delaware without giving effect to any choice or conflict of law provision or rule, whether of the State of Delaware or any other jurisdiction, that would cause the application of laws of any jurisdiction
other than the State of Delaware. 
 (b) Entire Agreement. This Agreement contains the entire agreement of the parties relating to
Employee’s employment with the Company and supersedes all prior agreements and understandings with respect to such subject matter, and the parties hereto have made no agreements, representations or warranties relating to the subject matter of
this Agreement that are not set forth herein. This Agreement does not limit or affect in any way the rights and obligations of Employee as a holder of common shares in the Company. The parties acknowledge that Employee and the Company or its
affiliates are party to various other agreements relating to the sale of Employee’s shares in connection with a transaction on April 2, 2007 with the Company’s parent company, the provisions of which run concurrently with and are
cumulative to the provisions of this Agreement. The parties further acknowledge that the Stockholders Agreement and Registration Rights Agreement dated April 2, 2007 between the Company’s parent company and some or all of its stockholders,
including Employee, continue in full force and effect to the extent stated therein with respect to the shares that Employee owns in the Company’s parent company and the Employee’s rights with respect to Board participation Employee’s
ownership of shares of the Company does not affect the terms of his employment as set forth in this Agreement. 
 (c) Survival. The
obligations and rights of the parties hereunder that by their terms continue beyond the termination of Employee’s employment shall survive and continue in effect notwithstanding the termination of Employee’s employment. 

(d) Amendments. No amendment or modification of this Agreement shall be deemed effective unless made in writing and signed by the
parties hereto. 

  
 - 11 - 

 (e) No Waiver. No term or condition of this Agreement shall be deemed to have been
waived, except by a statement in writing signed by the party against whom enforcement of the waiver is sought. Any written waiver shall not be deemed a continuing waiver unless specifically stated, shall operate only as to the specific term or
condition waived and shall not constitute a waiver of such term or condition for the future or as to any act other than that specifically waived. 

(f) Assignment. This Agreement shall not be assignable, in whole or in part, by either party without the written consent of the other
party, except that the Company may, without the consent of Employee, assign its rights and obligations under this Agreement to any corporation or other business entity (i) with which the Company may merge or consolidate, (ii) to which the
Company may sell or transfer all or substantially all of its assets or capital stock, or (iii) of which fifty percent (50%) or more of the capital stock or the voting control is owned, directly or indirectly, by the Company. After any such
assignment by the Company, the Company shall be discharged from all further liability hereunder and such assignee shall thereafter be deemed to be the “Company” for purposes of all terms and conditions of this Agreement, including this
Section 13. 
 (g) Counterparts. This Agreement may be executed in any number of counterparts, and such counterparts executed and
delivered, each as an original, shall constitute but one and the same instrument. 
 (h) Severability. To the extent that any portion
of any provision of this Agreement shall be invalid or unenforceable, it shall be considered deleted herefrom and the remainder of such provision and this Agreement shall be unaffected and shall continue in full force and effect. 

(i) Captions and Headings. The captions and paragraph headings used in this Agreement are for convenience of reference only and shall
not affect the construction or interpretation of this Agreement or any of the provisions hereof. 

  
 - 12 - 

 IN WITNESS WHEREOF, the Company and Employee have executed this Agreement as of the date set
forth in the first paragraph. 
  

			
	CAR WASH PARTNERS, INC.
		
	By	 	 /s/ Authorized Signatory

		
	    Its	 	          

	
	EMPLOYEE
	
	 /s/ John Lai

	John Lai

 [Lai Employment Agreement] 

 EXECUTION VERSION 

Amendment No. 1 to Employment Agreement 

THIS AMENDMENT NO. 1 (“Amendment”) to that certain Employment Agreement dated March 4, 2014, by and between Car Wash
Partners, Inc., a Delaware corporation (the “Company”), and John L. Lai (“Employee”) (the “Employment Agreement”) is made and entered into effective as of October 10, 2014 (the
“Effective Date”), by and between the Company and Employee (each, a “Party,” and collectively, the “Parties”). 

WHEREAS, Employee is currently employed as the Company’s Chief Executive Officer pursuant to the Employment Agreement; 

WHEREAS, the Parties desire to clarify certain provisions of the Employment Agreement; and 

WHEREAS, Section 13(d) of the Employment Agreement permits amendment of the Employment Agreement by means of a writing signed by both
Parties. 
 NOW, THEREFORE, in consideration of the mutual promises and agreements set forth herein, the Parties agree as follows: 

1. Amendment to Employment Agreement. In accordance with Section 13(d) of the Employment Agreement, effective as of the Effective
Date: 
 a. Section 9(c) of the Employment Agreement is deleted in its entirety, and the following Section 9(c) is substituted in
its place: 
 (c) If Employee’s employment with the Company is terminated by reason of Disability or death, the Company shall pay to
Employee his base salary through the last day of the month in which the Termination Date occurs, in accordance with the Company’s customary payroll practices. 

b. Section 9(h) of the Employment Agreement is deleted in its entirety, and the following Section 9(h) is substituted in its place:

 (h) Notwithstanding the foregoing provisions of this Section 9, the Company shall not be obligated to make any payments to Employee
under Section 9(a) or Section 9(c) hereof (except in the case of Employee’s death) (“Severance”) unless Employee (A) shall have: (x) signed a release of claims in favor of the Company, in a form to be
prescribed by the Company acting reasonably and provided to Employee on the date Employee’s employment is terminated (the “Release”); (y) delivered such executed Release to the Company within 21 days following Employee’s
receipt thereof; and (z) not rescinded such executed Release during the seven-day period following its delivery to the Company, following which 

 seven-day period such executed Release shall become
effective; and (B) shall be in strict compliance with the terms of Sections 4, 6, 7, and 10 hereof during the period commencing on the date Employee’s employment is terminated and ending on the latest date on which any Severance is payable
hereunder. Notwithstanding the foregoing provisions of this Section 9, payment of Severance shall commence on the Company’s first regular payroll date following the 28th day after the date Employee’s employment is terminated (such
payroll date, the “Severance Commencement Date”). Any Severance that in the absence of the immediately preceding sentence would be payable prior to the Severance Commencement Date will instead be paid in a lump sum on the Severance
Commencement Date, and any Severance that in the absence of the immediately preceding sentence would be payable on or following the Severance Commencement Date will be paid on the normal payment schedule specified in Section 9(b) or
Section 9(c) hereof, as applicable. If Severance is paid in two or more installments, each such installment shall be treated as a separate payment for purposes of Section 409A of the Code (as defined below). 

2. Definitions. Capitalized terms used but not defined herein shall have the meanings ascribed to them in the Employment Agreement. 

3. References. All references in the Employment Agreement to “this Agreement” and any other references of similar effect shall
hereinafter refer to the Employment Agreement as amended by this Amendment. 
 4. Remaining Provisions. Except as expressly modified
by this Amendment, the Employment Agreement shall remain in full force and effect. This Amendment embodies the entire agreement and understanding of the Parties hereto with respect to the subject matter hereof and supersedes all prior and
contemporaneous agreements and understandings, whether oral or written, relating thereto. 
 5. Governing Law. This Amendment is to be
interpreted, construed and governed according to the laws of the State of Delaware without regard to its principles of conflicts of laws. 

6. Counterparts. The Parties hereto may execute this Amendment in counterparts, each of which shall be deemed to be an original and all
of which shall together constitute one and the same instrument. 
 [signature page follows] 

  
 2 

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

 

			
	Employee
	
	 /s/ John L. Lai

	John L. Lai
	
	Company
	
	 /s/ Darren Skarecky

	By:	 	Darren Skarecky
	Title:	 	CFO

 [Signature Page — Lai — Amendment No. 1 to Employment Agreement]

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