Document:

EXHIBIT 10.1

 

 

TAX RECEIVABLE AGREEMENT

 

between

 

HireRight Holdings Corporation,

 

the TRA Parties

 

and

 

the TRA Party Representative

 

Dated as of October 28th, 2021

 

 

 

 

    	 		 

     

    

 

TABLE OF CONTENTS

 

	 	Page
	ARTICLE I DEFINITIONS	1
	   Section 1.1.	Definitions	1
	ARTICLE II DETERMINATION OF CERTAIN REALIZED TAX BENEFIT	8
	   Section 2.1.	Attribute Schedule	8
	   Section 2.2.	Tax Benefit Schedule	8
	   Section 2.3.	Procedures, Amendments	9
	ARTICLE III TAX BENEFIT PAYMENTS	10
	   Section 3.1.	Payments	10
	   Section 3.2.	No Duplicative Payments	10
	ARTICLE IV TERMINATION	11
	   Section 4.1.	Early Termination of Agreement; Breach of Agreement	11
	   Section 4.2.	Early Termination Notice	12
	   Section 4.3.	Payment upon Early Termination	12
	ARTICLE V SUBORDINATION AND LATE PAYMENTS	13
	   Section 5.1.	Subordination	13
	   Section 5.2.	Late Payments by the Corporation	13
	ARTICLE VI NO DISPUTES; CONSISTENCY; COOPERATION	14
	   Section 6.1.	Participation in the Company Group’s Tax Matters	14
	   Section 6.2.	Consistency	14
	   Section 6.3.	Cooperation; Non-Circumvention	14
	ARTICLE VII MISCELLANEOUS	15
	   Section 7.1.	Notices	15
	   Section 7.2.	Counterparts	16
	   Section 7.3.	Entire Agreement; No Third Party Beneficiaries	16
	   Section 7.4.	Governing Law	16
	   Section 7.5.	Severability	16
	   Section 7.6.	Successors; Assignment; Amendments; Waivers	16
	   Section 7.7.	Construction; Interpretation	17
	   Section 7.8.	Resolution of Disputes; Waiver of Jury Trial	17
	   Section 7.9.	Reconciliation	18
	   Section 7.10.	Withholding	19

 

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	   Section 7.11.	Admission of the Corporation into a Consolidated Group; Transfers of Corporate
Assets	20
	   Section 7.12.	Confidentiality	20
	   Section 7.13.	TRA Party Representative	21

 

 

 

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TAX RECEIVABLE AGREEMENT

This TAX RECEIVABLE AGREEMENT (as amended
from time to time, this “Agreement”), dated as of October 28th, 2021, is hereby entered into by and among
HireRight Holdings Corporation, a Delaware corporation (including any successor thereto, the “Corporation”), each of
the undersigned parties and each other Person subsequently becoming party hereto from time to time (each, excluding the Corporation, a
“TRA Party”, and together, the “TRA Parties”), and, solely for the specific purposes set forth herein,
the TRA Party Representative.

RECITALS

WHEREAS, as of the date hereof, the TRA
Parties directly or indirectly hold capital stock of the Corporation;

WHEREAS, the Corporation will become a
public company pursuant to the IPO (as defined below);

WHEREAS, following the IPO, the Corporation
and its Subsidiaries from time to time (as defined below, and collectively with the Corporation, the “Company Group”)
will be entitled to utilize Pre-IPO Tax Benefits (as defined below) generated in, or which otherwise relate to, periods (or portions thereof)
ending on or prior to the IPO;

WHEREAS, the income, gain, loss, expense,
deduction and other Tax items of the Company Group may be affected by the Pre-IPO Tax Benefits;

WHEREAS, the Pre-IPO Tax Benefits may reduce
the reported liability for Taxes that the Company Group might otherwise by required to pay; and

WHEREAS, the parties to the Agreement desire
to make certain arrangements with respect to the effect of the Pre-IPO Tax Benefits on the reported liability for Taxes of the Company
Group.

NOW, THEREFORE, in consideration of the
foregoing and the respective covenants and agreements set forth herein, and intending to be legally bound hereby, the parties hereto agree
as follows:

ARTICLE I

DEFINITIONS

Section 1.1.         
Definitions. As used in this Agreement, the terms set forth in this Article I shall have the following meanings (such meanings
to be equally applicable to both the singular and plural forms of the terms defined).

“Actual Tax Liability” means,
with respect to any Taxable Year, the sum of (i) the aggregate liability for U.S. federal income Taxes of the Company Group (a) applying
the same methods, elections, conventions and practices used on the IRS Form 1120 (or any successor

 

    	 		 

     

    

 

form) filed with respect to the Company
Group (or any member thereof) and (b) deducting the amount computed under prong (ii) of this definition (rather than any amount of state
and local Tax liabilities) for such Taxable Year to the extent state and local Taxes are deductible for the applicable entity and (ii)
the product of (A) the amount determined under clause (i) (calculated assuming that state and local Taxes are not deductible) and
(B) the Blended Rate.

“Affiliate” means, with respect
to any Person, any other Person that directly or indirectly, through one or more intermediaries, Controls, is Controlled by, or is under
common Control with, such first Person.

“Agreed Rate” means a per annum
rate of LIBOR plus 100 basis points.

“Agreement” has the meaning
set forth in the Preamble to this Agreement.

“Amended Schedule” has the
meaning set forth in Section 2.3(b) of this Agreement.

“Attribute Schedule” has the
meaning set forth in Section 2.1 of this Agreement.

“Bankruptcy Code” means Title
11 of the United States Code.

“Beneficial Owner” means, with
respect to any security, a Person who directly or indirectly, through any contract, arrangement, understanding, relationship or otherwise,
has or shares: (i) voting power, which includes the power to vote, or to direct the voting of, such security; and/or (ii) investment
power, which includes the power to dispose of, or to direct the disposition of, such security. The terms “Beneficially Own”
and “Beneficial Ownership” shall have correlative meanings.

“Blended Rate” means, with
respect to any Taxable Year, the sum of the apportionment-weighted effective rates of Tax imposed on the aggregate net income of the Company
Group in each state or local jurisdiction in which the Company Group files Tax Returns for such Taxable Year, with the maximum effective
rate in any state or local jurisdiction being equal to the product of (i) the apportionment factor actually used by the Company Group
in computing income or franchise Taxes payable by the Company Group (or any member thereof) in such jurisdiction for such Taxable Year
and (ii) the maximum applicable corporate income or franchise Tax rate in effect in such jurisdiction in such Taxable Year. Solely
for illustrative purposes, if the Company Group solely files Tax Returns in State 1 and State 2 in a Taxable Year, the maximum applicable
corporate Tax rates in effect in such states in such Taxable Year are 6.5% and 5.5%, respectively, and the apportionment factors for such
states in such Taxable Year are 55% and 45% respectively, then the Blended Rate for such Taxable Year is equal to 6.05% (i.e., 6.5% multiplied
by 55% plus 5.5% multiplied by 45%).

“Board” means the Board of
Directors of the Corporation.

“Business Day” means each day
that is not a Saturday, Sunday or other day on which banking institutions in New York, New York are authorized or required by law to close.

 

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“Change of Control” means the
occurrence of any of the following events:

(i)       any
Person or any group of Persons acting together that would constitute a “group” for purposes of Section 13(d) of the Securities
Exchange Act of 1934, as amended or any successor provisions thereto (excluding (a) a corporation or other entity owned, directly or indirectly,
by the stockholders of the Corporation in substantially the same proportions as their ownership of stock in the Corporation or (b) a Person
or group of Persons in which one or more Affiliates of the General Atlantic Funds, directly or indirectly hold Beneficial Ownership of
securities representing more than 50% of the total voting power in such Person or held by such group) is or becomes the Beneficial Owner,
directly or indirectly, of securities of the Corporation representing more than 50% of the combined voting power of the Corporation’s
then outstanding voting securities; or

(ii)       there
is consummated a merger or consolidation of the Corporation with any other corporation or other entity, and, immediately after the consummation
of such merger or consolidation, either (x) the Board immediately prior to the merger or consolidation does not constitute at least a
majority of the board of directors of the company surviving the merger or consolidation or, if the surviving company is a Subsidiary of
any such corporation or other entity, of the ultimate parent thereof, or (y) the voting securities of the Corporation immediately prior
to such merger or consolidation do not continue to represent or are not converted or exchanged into more than 50% of the combined voting
power of the then outstanding voting securities of the Person resulting from such merger or consolidation or, if the surviving company
is a Subsidiary, the ultimate parent thereof; or

(iii)       the
stockholders of the Corporation approve a plan of complete liquidation or dissolution of the Corporation or there is consummated an agreement
or series of related agreements for the sale, lease or other disposition, directly or indirectly, of all or substantially all of the Company
Group’s assets, other than such sale or other disposition, directly or indirectly, by the Corporation of all or substantially all
of the Company Group’s assets to an entity at least 50% of the combined voting power of the voting securities of which are owned
by stockholders of the Corporation in substantially the same proportions as their ownership of the Corporation immediately prior to such
sale.

Notwithstanding the foregoing, unless resulting in changes in board
composition described in clause (ii)(x) above, a “Change of Control” shall not be deemed to have occurred by virtue of the
consummation of any transaction or series of integrated transactions immediately following which the record holders of the shares of the
Corporation immediately prior to such transaction or series of transactions continue to have substantially the same proportionate ownership
in, and voting control over, and own substantially all of the shares of, an entity which owns, directly or indirectly, all or substantially
all of the assets of the Corporation immediately following such transaction or series of transactions.

“Code” means the U.S. Internal
Revenue Code of 1986.

 

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“Company Group” is defined
in the Recitals.

“Control” means the possession,
direct or indirect, of the power to direct or cause the direction of the management and policies of a Person, whether through ownership
of voting securities, by contract or otherwise.

“Corporation” is defined in
the Preamble.

“Covered Person” has the meaning
set forth in Section 7.13 of this Agreement.

“Cumulative Net Realized Tax Benefit”
for a Taxable Year means the cumulative amount of Realized Tax Benefits for all Taxable Years of the Company Group, up to and including
such Taxable Year, net of the cumulative amount of Realized Tax Detriment for the same period. The Realized Tax Benefit and Realized Tax
Detriment for each Taxable Year shall be determined based on the most recent Tax Benefit Schedules or Amended Schedules, if any, in existence
at the time of such determination; provided, that, for the avoidance of doubt, the computation of the Cumulative Net Realized
Tax Benefit shall be adjusted to reflect any applicable Determination with respect to any Realized Tax Benefits and/or Realized Tax Detriments.

“Default Rate” means a per
annum rate of LIBOR plus 500 basis points, compounded annually.

“Determination” shall have
the meaning ascribed to such term in Section 1313(a) of the Code or similar provision of state, foreign or local Tax law, as applicable,
or any other event (including the execution of IRS Form 870-AD) that finally and conclusively establishes the amount of any liability
for Tax.

“Dispute” has the meaning set
forth in Section 7.8(a) of this Agreement.

“Early Termination Date” means
the date of an Early Termination Notice for purposes of determining the Early Termination Payment.

“Early Termination Effective Date”
means the date on which an Early Termination Schedule becomes binding pursuant to Section 4.2.

“Early Termination Notice”
has the meaning set forth in Section 4.2 of this Agreement.

“Early Termination Payment”
has the meaning set forth in Section 4.3(b) of this Agreement.

“Early Termination Rate” means
a per annum rate equal to the lesser of (i) 650 basis points and (ii) LIBOR plus 100 basis points, in each case, compounded annually.

“Early Termination Schedule”
has the meaning set forth in Section 4.2 of this Agreement.

 

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“Expert” has the meaning set
forth in Section 7.9 of this Agreement.

“Future TRAs” has the meaning
set forth in Section 5.1 of this Agreement.

“General Atlantic Funds” means,
individually or collectively, any investment fund, co-investment vehicles and/or other similar vehicles or accounts, in each case managed,
directly or indirectly, by an Affiliate of General Atlantic Service Company, L.P., or any successor thereto.

“Hypothetical Tax Liability”
means, with respect to any Taxable Year, the sum of (i) the aggregate liability for U.S. federal income Taxes of the Company Group
(a) applying the same methods, elections, conventions and practices used on the IRS Form 1120 (or any successor form) filed with
respect to the Company Group (or any member thereof) and (b) deducting the amount computed under prong (ii) of this definition (rather
than any amount of state and local Tax liabilities) for such Taxable Year to the extent state and local Taxes are deductible for the applicable
entity and (ii) the product of (A) the amount determined under clause (i) (calculated assuming that state and local Taxes are not
deductible) and (B) the Blended Rate, but, in each case, without taking into account Pre-IPO Tax Benefits, if any (including the
carryover or carryback of any Tax item or attribute (or portions thereof) that is, is derived from, or is otherwise available for use
because of, any Pre-IPO Tax Benefit).

“Interest Amount” has the meaning
set forth in Section 3.1(b) of this Agreement.

“IPO” means the initial public
offering of common stock, par value $0.001 per share, of the Corporation pursuant to the Registration Statement.

“IPO Date” means the initial
closing date of the IPO.

“IRS” means the U.S. Internal
Revenue Service.

“LIBOR” means during any period,
(i) except as set forth in clause (ii), an interest rate per annum equal to the one-year LIBOR reported, on the date two days prior to
the first day of such period, on Reuters screen page “LIBOR01” (or by any other publicly available source of such market rate)
for London interbank offered rates for United States dollar deposits for such period or (ii) at any time a majority of the Company Group’s
then-outstanding loan and/or other agreements governing material secured, floating rate indebtedness discontinue the use of LIBOR in determining
pricing or interest rates and apply an alternative benchmark rate (such agreements that have discontinued the use of LIBOR, the “Discontinued
Agreements”), the sum of (1) the alternative benchmark rate applied in such period in the majority (as determined by the principal
amounts borrowed by the Company Group thereunder) of the Discontinued Agreements (the “Successor Benchmark”) and (2)
the weighted average mathematical spread adjustment (which may be zero, negative or positive and shall be determined based on the aggregate
principal amount of financing provided under each such Discontinued Agreement, whether utilized or unutilized at the time that Successor
Benchmark is adopted) applied to such Successor Benchmark in the Discontinued Agreements.

“Material Objection Notice”
has the meaning set forth in Section 4.2 of this Agreement.

 

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“Net Tax Benefit” has the meaning
set forth in Section 3.1(b) of this Agreement.

“NOLs” means, without duplication,
net operating losses, capital losses, excess Section 163(j) limitation carryforwards, research and development credits, foreign Tax credits
and any Tax attributes subject to carryforward under Section 381 of the Code the Company Group determined as of the IPO Date. For all
purposes under this Agreement, (i) in determining whether any Tax attribute gives rise to an NOL, the Taxable Year of the Corporation
(and each member of the Company Group) that includes the IPO Date shall be deemed to end as of the IPO Date, with NOLs accruing in respect
of the Taxable Year ending on the IPO Date determined on a closing of the books basis and (ii) NOLs shall include any Pre-IPO Tax Benefit
that becomes an NOL following the IPO Date as a result of such Pre-IPO Tax Benefit not being fully utilized in the Taxable Year in which
it would otherwise have been applied.

“Objection Notice” has the
meaning set forth in Section 2.3(a) of this Agreement.

“Ownership Percentage” means,
in the case of any TRA Party as of any time of determination, the percentage set forth opposite such TRA Party’s name on Schedule
A.

“Payment Date” means any date
on which a payment is required to be made pursuant to this Agreement.

“Person” means any individual,
corporation, firm, partnership, joint venture, limited liability company, estate, trust, business association, organization, governmental
entity or other entity.

“Pre-IPO Tax Benefits” means
(i) all depreciation and amortization deductions, and any offset to taxable income and gain or increase to taxable loss, resulting from
the tax basis in the intangible assets held by the Company Group as of the IPO Date and (ii) the utilization of the Company Group’s
NOLs, in each case of clauses (i) and (ii), arising under U.S. federal, state and local income tax law.

“Realized Tax Benefit” means,
for a Taxable Year, the excess, if any, of the Hypothetical Tax Liability over the Actual Tax Liability. If all or a portion of the Actual
Tax Liability for the Taxable Year arises as a result of an audit by a Taxing Authority of any Taxable Year, such liability shall not
be included in determining the Realized Tax Benefit unless and until there has been a Determination.

“Realized Tax Detriment” means,
for a Taxable Year, the excess, if any, of the Actual Tax Liability over the Hypothetical Tax Liability. If all or a portion of the Actual
Tax Liability for the Taxable Year arises as a result of an audit by a Taxing Authority of any Taxable Year, such liability shall not
be included in determining the Realized Tax Detriment unless and until there has been a Determination.

“Reconciliation Dispute” has
the meaning set forth in Section 7.9 of this Agreement.

“Reconciliation Procedures”
has the meaning set forth in Section 2.3(a) of this Agreement.

 

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“Registration Statement” means
the registration statement on Form S-1 of the Corporation.

“Schedule” means any Attribute
Schedule, any Tax Benefit Schedule, any Early Termination Schedule, and any such Schedule that becomes an Amended Schedule under Section
2.3(b).

“Senior Obligations” has the
meaning set forth in Section 5.1 of this Agreement.

“Subsidiaries” means, with
respect to any Person, as of any date of determination, any other Person as to which such Person, owns, directly or indirectly, or otherwise
controls more than 50% of the voting power or other similar interests or the sole general partner interest or managing member or similar
interest of such Person.

“Tax Benefit Payment” has the
meaning set forth in Section 3.1(b) of this Agreement.

“Tax Benefit Schedule” has
the meaning set forth in Section 2.2(a) of this Agreement.

“Tax Return” means any return,
declaration, report or similar statement filed or required to be filed with respect to Taxes (including any attached schedules), including,
without limitation, any information return, claim for refund, amended return and declaration of estimated Tax.

“Taxable Year” means a taxable
year of the Corporation as defined in Section 441(b) of the Code or comparable section of state or local Tax law, as applicable (and,
therefore, for the avoidance of doubt, may include a period of less than twelve (12) months for which a Tax Return is made), ending on
or after the IPO Date.

“Taxes” means any and all U.S.
federal, state, local and foreign taxes, assessments or similar charges that are based on or measured with respect to net income or profits,
and any interest related to such Tax.

“Taxing Authority” means any
domestic, federal, national, state, county or municipal or other local government, any subdivision, agency, commission or authority thereof,
or any quasi-governmental body exercising any taxing authority or any other authority exercising Tax regulatory authority.

“TRA Party” has the meaning
set forth in the Preamble to this Agreement.

“TRA Party Representative”
means General Atlantic (HRG) Collections, L.P., a Delaware limited partnership, acting in its capacity as the TRA Party Representative.

“Treasury Regulations” means
the final, temporary and proposed regulations under the Code promulgated from time to time (including corresponding provisions and succeeding
provisions) as in effect for the relevant taxable period.

 

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“Valuation Assumptions” shall
mean, as of an Early Termination Date, the assumptions that in each Taxable Year ending on or after such Early Termination Date, (1) the
Company Group will have taxable income sufficient to fully utilize all of the Pre-IPO Tax Benefits during such Taxable Year or future
Taxable Years in which such Pre-IPO Tax Benefits would become available (including any NOLs that would be generated by deductions arising
from the Pre-IPO Tax Benefits), (2) the U.S. federal income tax rates and state and local income and franchise tax rates for each
such Taxable Year will be those specified for each such Taxable Year by the Code and state and local tax law as in effect on the date
of the Early Termination Date, (3) the Blended Rate that will be in effect for each such Taxable Year will be the Blended Rate for the
last Taxable Year calculated under this Agreement prior to the Early Termination Date, (4) any non-amortizable assets will be disposed
of on the fifteenth (15th) anniversary of the IPO Date and any cash equivalents will be disposed of twelve (12) months following the Early
Termination Date; provided, that in the event of a Change of Control, such non-amortizable assets shall be deemed disposed
of at the time of sale (if applicable) of the relevant asset in the Change of Control (if earlier than such fifteenth (15th) anniversary),
and (5) any payment obligations pursuant to this Agreement will be satisfied on the date that any Tax Return to which such payment obligation
relates is required to be filed excluding any extensions.

ARTICLE II

DETERMINATION OF CERTAIN REALIZED TAX BENEFIT

Section 2.1.         
Attribute Schedule. Following the IPO Date, prior to the later of (i) sixty (60) calendar days prior to the filing of the
U.S. federal income Tax Return (IRS Form 1120, or any successor form) of the Company Group for the Taxable Year that includes the IPO
Date and (ii) ninety (90) calendar days after the IPO Date, the Corporation shall deliver to the TRA Party Representative a schedule (the
“Attribute Schedule”) that shows, in reasonable detail, the information necessary to perform the calculations required
by this Agreement, including estimates of (i) projections of the yearly deductions generated by the Pre-IPO Tax Benefits to be utilized
by the Company Group after the IPO Date and (ii) any applicable limitations on the use of the Pre-IPO Tax Benefits (including under Section
382 of the Code).

Section 2.2.         
Tax Benefit Schedule.

(a)              
Tax Benefit Schedule. Within ninety (90) calendar days after the earlier of (i) the filing of the U.S. federal income Tax
Return (IRS Form 1120, or any successor form) of the Corporation (or any applicable member of the Company Group) and (ii) the due date
(taking into account extensions) of such Tax Return, in each case, for any Taxable Year in which there is a Realized Tax Benefit or a
Realized Tax Detriment, the Corporation shall provide the TRA Party Representative a schedule showing, in reasonable detail, the calculation
of the Realized Tax Benefit and Tax Benefit Payment or the Realized Tax Detriment, as applicable, in respect of such Taxable Year (a “Tax
Benefit Schedule”). Each Tax Benefit Schedule will become final as provided in Section 2.3(a) and may be amended as provided
in Section 2.3(b) (subject to the procedures set forth in Section 2.3(b)).

(b)              
Applicable Principles. The Realized Tax Benefit (or the Realized Tax Detriment) for each Taxable Year is intended to measure
the decrease (or increase) in the actual

 

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liability for Taxes of the Corporation for such Taxable Year attributable to the Pre-IPO Tax
Benefits, determined using a “with and without” methodology. Carryovers or carrybacks of any Tax item attributable to, or
giving rise to, any Pre-IPO Tax Benefits shall be subject to the rules of the Code and the Treasury Regulations or the appropriate provisions
of U.S. state and local income and franchise Tax law, as applicable, governing the use, limitation and expiration of carryovers or carrybacks
of the relevant type. If a carryover or carryback of any Tax item includes a portion that is attributable to, or which gives rise to,
any Pre-IPO Tax Benefit and another portion that is not, such portions shall be considered to be used in accordance with the “with
and without” methodology described above.

Section 2.3.         
Procedures, Amendments.

(a)              
Procedure. Every time the Corporation delivers an applicable Schedule to the TRA Party Representative under this Agreement,
including any Amended Schedule pursuant to Section 2.3(b), the Corporation shall also (x) deliver to the TRA Party Representative supporting
schedules and work papers, as determined by the Corporation or reasonably requested by the TRA Party Representative, providing reasonable
detail regarding data and calculations that were relevant for purposes of preparing such Schedule and (y) allow the TRA Party Representative
reasonable access at no cost to the appropriate representatives at the Corporation, as determined by the Corporation or as reasonably
requested by the TRA Party Representative in connection with its review of such Schedule. Without limiting the application of the preceding
sentence, the Corporation shall ensure that any Tax Benefit Schedule that is delivered the TRA Party Representative, along with any supporting
schedules and work papers, provides a reasonably detailed presentation of the calculation of the Actual Tax Liability and the Hypothetical
Tax Liability and identifies any material assumptions or operating procedures or principles that were used for purposes of such calculations.
Each applicable Schedule or Amended Schedule shall become final and binding on all parties thirty (30) calendar days from the date on
which the TRA Party Representative actually receives the applicable Schedule or Amended Schedule unless the TRA Party Representative (i)
within thirty (30) calendar days from such date provides the Corporation with written notice of a material objection to such Schedule
(“Objection Notice”) made in good faith or (ii) provides a written waiver of such right of any Objection Notice within
the period described in clause (i) above, in which case such Schedule or amendment thereto becomes binding on the date the waiver is received
by the Corporation. If the Corporation and the TRA Party Representative, for any reason, are unable to successfully resolve the issues
raised in the Objection Notice within thirty (30) calendar days after receipt by the Corporation of an Objection Notice, the Corporation
and the TRA Party Representative shall employ the reconciliation procedures described in Section 7.9 of this Agreement (the “Reconciliation
Procedures”) in which case such Schedule becomes binding ten (10) calendar days after the conclusion of the Reconciliation
Procedures.

(b)              
Amended Schedule. The applicable Schedule for any Taxable Year and the Attribute Schedule may be amended from time to time
by the Corporation (i) in connection with a Determination affecting such Schedule, (ii) to correct inaccuracies in the Schedule identified
as a result of the receipt of additional factual information relating to a Taxable Year after the date the Schedule was provided to the
TRA Party Representative, (iii) to comply with an Expert’s determination under the Reconciliation Procedures, (iv) to reflect a
change in the Realized Tax Benefit, or the Realized Tax Detriment for such Taxable Year attributable to a

 

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carryback or carryforward of
a loss or other Tax item to such Taxable Year, or (v) to reflect a change in the Realized Tax Benefit or the Realized Tax Detriment for
such Taxable Year attributable to an amended Tax Return filed for such Taxable Year (any such Schedule, an “Amended Schedule”).
The Corporation shall provide each Amended Schedule to the TRA Party Representative within ninety (90) calendar days of the occurrence
of an event referenced in clauses (i) through (v) of the preceding sentence, and any such Amended Schedule shall be subject to the approval
procedures described in Section 2.3(a).

(c)              
The Schedules received by the TRA Party Representative may be shared by the TRA Party Representative with each TRA Party and each
assignee thereof, subject to the provisions of Section 7.12 of this Agreement.

 

ARTICLE III

TAX BENEFIT PAYMENTS

Section 3.1.         
Payments.

(a)              
Payments. Within five (5) calendar days after a Tax Benefit Schedule (or Amended Schedule) delivered to the TRA Party Representative
becomes final in accordance with Section 2.3 and Section 7.9, if applicable, the Corporation shall pay to each TRA Party for such Taxable
Year the Tax Benefit Payment payable to such TRA Party under Section 3.1(b). Each such Tax Benefit Payment shall be made by wire transfer
of immediately available funds to the bank account previously designated by such TRA Party to the Corporation or as otherwise agreed by
the Corporation and such TRA Party.

(b)              
A “Tax Benefit Payment” in respect of a TRA Party for a Taxable Year means an amount, not less than zero, equal
to the sum of (i) the product of (A) the Net Tax Benefit for such Taxable Year and (B) such TRA Party’s Ownership Percentage and
(ii) the Interest Amount with respect thereto. The “Net Tax Benefit” for a Taxable Year shall be an amount equal to
the excess, if any, of 85% of the Cumulative Net Realized Tax Benefit as of the end of such Taxable Year, over the total payments previously
made under the first sentence of Section 3.1(a) (excluding payments attributable to Interest Amounts); provided, for the avoidance
of doubt, that no recipient shall be required to return any portion of any previously made Tax Benefit Payment. The “Interest
Amount” shall equal the interest on the Net Tax Benefit calculated at the Agreed Rate from the due date (without extensions)
for filing IRS Form 1120 (or any successor form) of the Corporation with respect to Taxes for such Taxable Year until the date such
amounts are actually paid under Section 3.1(a).

Section 3.2.         
No Duplicative Payments. It is intended that the provisions of this Agreement will not result in duplicative payment of any amount
(including interest) required under this Agreement. The provisions of this Agreement shall be construed in the appropriate manner to ensure
such intentions are realized.

 

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ARTICLE IV

TERMINATION

Section 4.1.         
Early Termination of Agreement; Breach of Agreement.

(a)              
The Corporation may at any time terminate this Agreement with respect to all amounts payable to the TRA Parties by paying to each
TRA Party an amount equal to the product of (A) such TRA Party’s Ownership Percentage and (B) the Early Termination Payment; provided,
that the Corporation may withdraw any notice of intent to execute its termination rights under this Section 4.1(a) prior to the time at
which any Early Termination Payment has been paid. The Corporation shall have no further payment obligations under this Agreement upon
payment of the Early Termination Payment in respect of each TRA Party by the Corporation in full, other than for any (a) Tax Benefit Payments
due and payable and that remain unpaid as of the Early Termination Notice and (b) Tax Benefit Payment due for the Taxable Year ending
with or including the date of the Early Termination Notice (except to the extent that the amount described in clause (b) is included in
the Early Termination Payment).

(b)              
In the event that the Corporation (1) breaches any of its material obligations under this Agreement, whether as a result of failure
to make any payment when due, failure to honor any other material obligation required hereunder or by operation of law as a result of
the rejection of this Agreement in a case commenced under the Bankruptcy Code or otherwise or (2)(A) shall commence any case, proceeding
or other action (i) under any existing or future law of any jurisdiction, domestic or foreign, relating to bankruptcy, insolvency, reorganization
or relief of debtors, seeking to have an order for relief entered with respect to it, or seeking to adjudicate a bankruptcy or insolvency,
or seeking reorganization, arrangement, adjustment, winding-up, liquidation, dissolution, composition or other relief with respect to
it or its debts or (ii) seeking an appointment of a receiver, trustee, custodian, conservator or other similar official for it or for
all or any substantial part of its assets, or it shall make a general assignment for the benefit of creditors or (B) there shall be commenced
against the Corporation any case, proceeding or other action of the nature referred to in clause (A) above that remains undismissed or
undischarged for a period of sixty (60) calendar days, unless otherwise waived or directed in writing by the TRA Party Representative,
all obligations hereunder shall be automatically accelerated and shall be immediately due and payable, and such obligations shall be calculated
as if an Early Termination Notice had been delivered on the date of such breach and shall include, but not be limited to, (x) the Early
Termination Payments calculated as if an Early Termination Notice had been delivered on the date of a breach, (y) any Tax Benefit
Payment due and payable under Section 3.1(a) and that remains unpaid as of the date of a breach, and (z) any Tax Benefit Payment due for
the Taxable Year ending with or including the date of a breach, which shall be treated as due and payable as of the date of the breach;
provided, that procedures similar to the procedures of Section 4.2 shall apply with respect to the determination of the amount
payable by the Corporation pursuant to this sentence. Notwithstanding the foregoing, in the event that the Corporation breaches this Agreement,
to the fullest extent permitted by applicable law, each TRA Party shall be entitled to elect to receive the amounts set forth in clauses
(x), (y) and (z) above or to seek specific performance of the terms hereof. The parties agree that the failure to make any payment due
pursuant to this Agreement within three (3) months of the date such payment is due shall be deemed to be a breach of a material

 

    	 	11	 

     

    

 

obligation
under this Agreement for all purposes of this Agreement, and that it will not be considered to be a breach of a material obligation under
this Agreement to make a payment due pursuant to this Agreement within three (3) months of the date such payment is due. Notwithstanding
anything in this Agreement to the contrary, it shall not be a breach of a material obligation of this Agreement if the Corporation fails
to make any Tax Benefit Payment when due to the extent that the Company Group has insufficient funds to make such payment; provided,
that the interest provisions of Section 5.2 shall apply to such late payment.

(c)              
In the event of a Change of Control, unless otherwise waived in writing by the TRA Party Representative, all obligations hereunder
shall be accelerated and such obligations shall be calculated as if an Early Termination Notice had been delivered on the date of such
Change of Control and utilizing the Valuation Assumptions by substituting in each case the terms “the closing date of a Change of
Control” in each place where the phrase “Early Termination Date” appears. Such obligations shall include (1) the Early
Termination Payments calculated as if the Early Termination Date is the date of such Change of Control, (2) any Tax Benefit Payment due
and payable under Section 3.1(a) and that remains unpaid as of the date of such Change of Control, and (3) any Tax Benefit Payment due
for any Taxable Year ending prior to, with or including the date of such Change of Control (except to the extent any amounts described
in clause (2) or (3) are included in the Early Termination Payment). For the avoidance of doubt, Sections 4.2 and 4.3 shall apply to a
Change of Control, mutatis mutandis.

Section 4.2.         
Early Termination Notice. If the Corporation chooses to exercise its right of early termination under Section 4.1(a) above, the
Corporation shall deliver to the TRA Party Representative notice of such intention to exercise such right (“Early Termination
Notice”) and a schedule (the “Early Termination Schedule”) specifying the Corporation’s intention to
exercise such right under either clause (i) or (ii) thereof and showing in reasonable detail the calculation of the Early Termination
Payment due. An Early Termination Schedule shall become final and binding on all parties thirty (30) calendar days from the date on which
the TRA Party Representative receives such Schedule or any Amended Schedule unless the TRA Party Representative (i) within thirty (30)
calendar days after such date provides the Corporation with notice of a material objection to such Schedule made in good faith (“Material
Objection Notice”) or (ii) provides a written waiver of such right of a Material Objection Notice within the period described
in clause (i) above, in which case such Schedule becomes binding on the date the waiver is received by the Corporation. If the Corporation
and the TRA Party Representative, for any reason, are unable to successfully resolve the issues raised in such notice within thirty (30)
calendar days after receipt by the Corporation of the Material Objection Notice, the Corporation and the TRA Party Representative shall
employ the Reconciliation Procedures in which case such Schedule becomes binding ten (10) calendar days after the conclusion of the Reconciliation
Procedures.

Section 4.3.         
Payment upon Early Termination.

(a)              
Within three (3) calendar days after an Early Termination Effective Date, the Corporation shall pay to each TRA Party an amount
equal to the Early Termination Payment in respect of such TRA Party (computed on the basis of such TRA Party’s Ownership Percentage).
Such payment shall be made by wire transfer of immediately available funds to a bank account or accounts designated by such TRA Party
or as otherwise agreed by the

 

    	 	12	 

     

    

 

Corporation and such TRA Party or, in the absence of such designation or agreement, by check mailed to the
last mailing address provided by such TRA Party to the Corporation.

(b)              
The “Early Termination Payment” shall equal the present value, discounted at the Early Termination Rate as of
the applicable Early Termination Effective Date, of all Tax Benefit Payments that would be required to be paid by or with respect to the
Company Group beginning from the Early Termination Date, applying the Valuation Assumptions in making such computation.

 

ARTICLE V

SUBORDINATION AND LATE PAYMENTS

Section 5.1.         
Subordination.

(a)              
Notwithstanding any other provision of this Agreement to the contrary, any Tax Benefit Payment required to be made by the Corporation
to the TRA Parties under this Agreement shall rank subordinate and junior in right of payment to any principal, interest or other amounts
due and payable in respect of any obligations in respect of indebtedness for borrowed money of the Company Group (“Senior Obligations”)
and shall rank pari passu in right of payment with all current or future unsecured obligations of the Corporation that are not
Senior Obligations. To the extent that any payment under this Agreement is not permitted to be made at the time payment is due as a result
of this Section 5.1 and the terms of the Company Group’s Senior Obligations, (i) the Corporation shall provide prompt written notice
to the TRA Party Representative of such condition, (ii) such payment obligation nevertheless shall accrue for the benefit of TRA Parties
(and interest shall be payable thereon at the Agreed Rate and otherwise in accordance with Section 5.2), and (iii) the Corporation shall
make such payments at the first opportunity that such payments are permitted to be made in accordance with the terms of the Senior Obligations.

(b)              
Notwithstanding any other provision of this Agreement to the contrary,
(i) to the extent the Company Group incurs, creates, assumes or permits to exist any indebtedness after the date hereof, the
Corporation shall use commercially reasonable efforts to ensure that any amounts payable hereunder are reasonably expected to be paid
when and as such amounts become due and payable. To the extent that the Corporation
or any of its Affiliates enters into future Tax receivable or other similar agreements (“Future TRAs”), the Corporation
shall ensure that the terms of any such Future TRA shall provide that the Pre-IPO Tax Benefits subject to this Agreement are considered
senior in priority to any Tax attributes subject to any such Future TRA for purposes of calculating the amount and timing of payments
under any such Future TRA. The Corporation shall use commercially reasonable efforts not to enter into any agreement if a principal purpose
of such agreement is to restrict in any material respect the amounts payable hereunder.

Section 5.2.         
Late Payments by the Corporation. Subject to the parenthetical in Section 5.1(a)(ii), the amount of all or any portion of
any Tax Benefit Payment or Early Termination Payment not made to the TRA Parties when due under the terms of this Agreement,

 

    	 	13	 

     

    

 

whether as
a result of Section 5.1 or otherwise, shall be payable together with any interest thereon, computed at the Default Rate and commencing
from the date on which such Tax Benefit Payment or Early Termination Payment was first due and payable to the date of actual payment.

ARTICLE VI

NO DISPUTES; CONSISTENCY; COOPERATION

Section 6.1.         
Participation in the Company Group’s Tax Matters. Except as otherwise provided herein, the Corporation shall have full responsibility
for, and sole discretion over, all Tax matters concerning the Company Group, including without limitation the preparation, filing or amending
of any Tax Return and defending, contesting or settling any issue pertaining to Taxes, subject to a requirement that the Corporation act
in good faith in connection with its control of any matter which is reasonably expected to affect the TRA Parties’ rights under
this Agreement. Notwithstanding the foregoing, the Corporation shall notify the TRA Party Representative of, and keep the TRA Party Representative
reasonably informed with respect to, the portion of any audit of any member of the Company Group by a Taxing Authority the outcome of
which is reasonably expected to affect the rights and obligations of a TRA Party under this Agreement, and shall provide to the TRA Party
Representative reasonable opportunity to provide information and other input to the Corporation and its advisors concerning the conduct
of any such portion of such audit; provided, that the Corporation shall not settle or fail to contest any issue pertaining
to Taxes or Tax matters where such settlement or failure to contest would reasonably be expected to materially adversely affect the TRA
Parties’ rights under this Agreement without the written consent of the TRA Party Representative, such consent not to be unreasonably
withheld, conditioned, or delayed.

Section 6.2.         
Consistency. The Corporation agrees to report and cause to be reported for all purposes, including U.S. federal, state and local
Tax purposes and financial reporting purposes, all Tax-related items (including each Tax Benefit Payment) in a manner consistent with
that contemplated by this Agreement or specified by the Corporation in any Schedule required to be provided by or on behalf of the Corporation
under this Agreement unless otherwise required by law. Any potential deviation therefrom shall be promptly disclosed to the TRA Party
Representative and any dispute concerning such advice shall be subject to the terms of Section 7.9.

Section 6.3.         
Cooperation; Non-Circumvention. Each of the Corporation and the TRA Party Representative shall (a) furnish to the other party in
a timely manner such information, documents and other materials as the other party may reasonably request for purposes of making any determination
or computation necessary or appropriate under this Agreement, preparing any Tax Return or contesting or defending any audit, examination
or controversy with any Taxing Authority, (b) make itself available to the other party and its representatives to provide explanations
of documents and materials and such other information as the other party or its representatives may reasonably request in connection with
any of the matters described in clause (a) above, and (c) reasonably cooperate in connection with any such matter, and the Corporation
shall reimburse each the TRA Party Representative and each TRA Party for any reasonable and documented out-of-pocket costs and expenses
incurred pursuant to this Section 6.3. Upon the request of any TRA Party, the Corporation shall cooperate in taking any

 

    	 	14	 

     

    

 

action reasonably
requested by such TRA Party in connection with its tax or financial reporting and/or the consummation of any assignment or transfer of
any of its rights and/or obligations under this Agreement, including without limitation, providing any information or executing any documentation.
No member of the Company Group shall, without the prior written consent of the TRA Party Representative, take any action that has the
primary purpose of circumventing the achievement or attainment of any Tax Benefit Payment or Early Termination Payment under this Agreement.

ARTICLE VII

MISCELLANEOUS

Section 7.1.         
Notices. All notices, requests, claims, demands and other communications hereunder shall be in writing and shall be deemed duly
given and received (a) on the date of delivery if delivered personally, or by facsimile or email with confirmation of transmission by
the transmitting equipment or (b) on the first Business Day following the date of dispatch if delivered by a recognized next-day courier
service. All notices hereunder shall be delivered as set forth below, or pursuant to such other instructions as may be designated in writing
by the party to receive such notice:

If to the Corporation, to:

 

	 	HireRight Holdings Corporation
	 	100 Centerview Drive, Suite 300
	 	Nashville, Tennessee 37214
	 	Attention:	Brian Copple
	 	 	Jeff Perry
	 	Email:	brian.copple@hireright.com
	 	 	jeff.perry@hireright.com

 

If to the TRA Party Representative, to:

 

	 	c/o General Atlantic Service Company, L.P.
	 	55 East 52nd Street, 33rd Floor
	 	New York, NY 10055
	 	Attention:	Chris Lanning
	 	Email:	clanning@generalatlantic.com

 

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

 

	 	

Paul, Weiss, Rifkind, Wharton & Garrison

	 	1285 Avenue of the Americas
	 	New York, NY 10019
	 	Attention:	Matt Abbott
	 	 	Lindsay B. Parks
	 	Email:	mabbott@paulweiss.com
	 	 	lparks@paulweiss.com

 

    	 	15	 

     

    

 

If to the TRA Parties, to the respective addresses, fax numbers
and email addresses last provided by such TRA Party to the Corporation.

Any party may change its address, fax number or email by giving
the other party written notice of its new address, fax number or email in the manner set forth above.

Section 7.2.         
Counterparts. This Agreement may be executed in one or more counterparts (including counterparts transmitted electronically in
portable document format (pdf)), all of which shall be considered one and the same agreement and shall become effective when one or more
counterparts have been signed by each of the parties and delivered to the other parties, it being understood that all parties need not
sign the same counterpart. Delivery of an executed signature page to this Agreement by facsimile transmission shall be as effective as
delivery of a manually signed counterpart of this Agreement. Electronic signatures shall be a valid method of executing this Agreement.

Section 7.3.         
Entire Agreement; No Third Party Beneficiaries. This Agreement constitutes the entire agreement and supersedes all prior agreements
and understandings, both written and oral, among the parties with respect to the subject matter hereof. This Agreement shall be binding
upon and inure solely to the benefit of each party hereto and their respective successors and permitted assigns, and nothing in this Agreement,
express or implied, is intended to or shall confer upon any other Person any right, benefit or remedy of any nature whatsoever under or
by reason of this Agreement.

Section 7.4.         
Governing Law. The laws of the State of Delaware shall govern (a) all proceedings, claims or matters related to or arising from
this Agreement (including any tort or non-contractual claims) and (b) any questions concerning the construction, interpretation, validity
and enforceability of this Agreement, and the performance of the obligations imposed by this Agreement, in each case without giving effect
to any choice of law or conflict of law rules or provisions (whether of the State of Delaware or any other jurisdiction) that would cause
the application of the laws of any jurisdiction other than the State of Delaware.

Section 7.5.         
Severability. If any term or other provision of this Agreement is invalid, illegal or incapable of being enforced by any law or
public policy, all other terms and provisions of this Agreement shall nevertheless remain in full force and effect so long as the economic
or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any party. Upon such determination
that any term or other provision is invalid, illegal or incapable of being enforced, the parties hereto shall negotiate in good faith
to modify this Agreement so as to effect the original intent of the parties as closely as possible in an acceptable manner in order that
the transactions contemplated hereby are consummated as originally contemplated to the greatest extent possible.

Section 7.6.         
Successors; Assignment; Amendments; Waivers.

(a)              
Each TRA Party may assign all or any portion of its rights under this Agreement to any Person as long as such transferee has executed
and delivered, or, in connection

 

    	 	16	 

     

    

 

with such transfer, executes and delivers, a joinder to this Agreement, substantially in form of Exhibit
A hereto, agreeing to become a TRA Party for all purposes of this Agreement, except as otherwise provided in such joinder.

(b)              
No provision of this Agreement may be amended unless such amendment is approved in writing by each of the Corporation, the TRA
Party Representative and each of the the TRA Parties who would be entitled to receive at least two-thirds of the total amount of the Early
Termination Payments payable to all TRA Parties hereunder. No provision of this Agreement may be waived unless such waiver is in writing
and signed by the party against whom the waiver is to be effective.

(c)              
All of the terms and provisions of this Agreement shall be binding upon, shall inure to the benefit of and shall be enforceable
by the parties hereto and their respective successors, assigns, heirs, executors, administrators and legal representatives. The Corporation
shall require and cause any direct or indirect successor (whether by purchase, merger, consolidation or otherwise) to all or substantially
all of the business or assets of the Corporation, by written agreement, expressly to assume and agree to perform this Agreement in the
same manner and to the same extent that the Corporation would be required to perform if no such succession had taken place.

Section 7.7.         
Construction; Interpretation. The titles of the sections and subsections of this Agreement are for convenience of reference only
and are not to be considered in construing this Agreement. No party hereto, nor its respective counsel, shall be deemed the drafter of
this Agreement for purposes of construing or enforcing the provisions hereof, and all provisions of this Agreement shall be construed
according to their fair meaning and not strictly for or against any party, and no presumption or burden of proof will arise favoring or
disfavoring any Person by virtue of its authorship of any provision of this Agreement. As used in this Agreement, (i) the words “herein,”
“hereto,” “hereof” and words of similar import refer to this Agreement as a whole, and not to any particular section,
subsection, paragraph, subparagraph or clause contained in this Agreement; (ii) references herein to any gender shall include each other
gender; (iii) words importing the singular shall also include the plural, and vice versa; (iv) the word “include,” “includes”
or “including” shall be deemed to be followed by the words “without limitation”; (v) the word “extent”
in the phrase “to the extent” shall mean the degree to which a subject or other thing extends, and such phrase shall not mean
simply “if”; (vi) reference to “dollar,” “dollars” or “$” shall be to the lawful currency
of the United States; and (vii) references herein to any law or legislation shall be deemed to refer to such law or legislation as amended,
modified, codified, reenacted, supplemented or superseded in whole or in part, and any successor law or legislation, and also to all rules
and regulations promulgated thereunder in each case, as in effect from time to time.

Section 7.8.         
Resolution of Disputes; Waiver of Jury Trial.

(a)              
Any and all disputes which are not governed by Section 7.9 and cannot be settled amicably, including any ancillary claims of any
party, arising out of, relating to or in connection with the validity, negotiation, execution, interpretation, performance or non-performance
of this Agreement (including the validity, scope and enforceability of this arbitration provision) (each a “Dispute”)
shall be finally settled by arbitration conducted by a

 

    	 	17	 

     

    

 

single arbitrator in New York, New York in accordance with the then-existing Rules
of Arbitration of the International Chamber of Commerce. If the parties to the Dispute fail to agree on the selection of an arbitrator
within thirty (30) calendar days of the receipt of the request for arbitration, the International Chamber of Commerce shall make the appointment.
The arbitrator shall be a lawyer admitted to the practice of law in the State of New York and shall conduct the proceedings in the English
language. Performance under this Agreement shall continue if reasonably possible during any arbitration proceedings.

(b)              
Notwithstanding the provisions of Section 7.8(a), each of the parties hereto may bring an action or special proceeding in any court
of competent jurisdiction for the purpose of compelling a party to arbitrate, seeking temporary or preliminary relief in aid of an arbitration
hereunder, and/or enforcing an arbitration award and, for the purposes of this Section 7.8(b), each of the parties (i) expressly
consents to the application of Section 7.8(c) and Section 7.8(d) to any such action or proceeding, (ii) agrees that proof shall not be
required that monetary damages for breach of the provisions of this Agreement would be difficult to calculate and that remedies at law
would be inadequate, and (iii) each TRA Party irrevocably appoints the TRA Party Representative as agent of such TRA Party for service
of process in connection with any such action or proceeding and agrees that service of process upon such agent, who shall promptly advise
the TRA Party of any such service of process, shall be deemed in every respect effective service of process upon the TRA Party in any
such action or proceeding.

(c)              
EACH PARTY HEREBY IRREVOCABLY SUBMITS TO THE JURISDICTION OF THE STATE AND FEDERAL COURTS LOCATED IN THE STATE OF DELAWARE FOR
THE PURPOSE OF ANY JUDICIAL PROCEEDING BROUGHT IN ACCORDANCE WITH THE PROVISIONS OF THIS SECTION 7.8, OR ANY JUDICIAL PROCEEDING ANCILLARY
TO AN ARBITRATION OR CONTEMPLATED ARBITRATION ARISING OUT OF OR RELATING TO OR CONCERNING THIS AGREEMENT. Such ancillary judicial proceedings
include any suit, action or proceeding to compel arbitration, to obtain temporary or preliminary judicial relief in aid of arbitration,
or to confirm an arbitration award. The parties acknowledge that the fora designated by this Section 7.8(c) have a reasonable relation
to this Agreement, and to the parties’ relationship with one another. The parties hereby waive, to the fullest extent permitted
by applicable law, any objection which they now or hereafter may have to personal jurisdiction or to the laying of venue of any such ancillary
suit, action or proceeding brought in any court referred to in this Section 7.8(c) and such parties agree not to plead or claim the
same.

(d)              
The parties to this Agreement each hereby waive, to the fullest extent permitted by law, any right to trial by jury of any claim,
demand, action, or cause of action (i) arising under this Agreement or (ii) in any way connected with or related or incidental to
the dealings of the parties hereto in respect of this Agreement or any of the transactions related hereto, in each case whether now existing
or hereafter arising, and whether in contract, tort, equity or otherwise.

 

Section 7.9.         
Reconciliation. In the event that the Corporation and the TRA Party Representative are unable to resolve a disagreement with respect
to the matters governed by Sections 2.3, 4.2 and 6.2 within the relevant period designated in this Agreement (“Reconciliation
Dispute”), the Reconciliation Dispute shall be submitted for determination to a

 

    	 	18	 

     

    

 

nationally recognized expert (the “Expert”)
in the particular area of disagreement mutually acceptable to both parties. The Expert shall be a partner or principal in a nationally
recognized accounting or law firm, and unless the Corporation and the TRA Party Representative agree otherwise, the Expert shall not,
and the firm that employs the Expert shall not, have any material relationship with the Corporation or the TRA Party Representative or
other actual or potential conflict of interest. If the Corporation and the TRA Party Representative are unable to agree on an Expert within
fifteen (15) calendar days of receipt by the respondent(s) of written notice of a Reconciliation Dispute, then the Expert shall be appointed
by the International Chamber of Commerce Centre for Expertise. The Expert shall resolve any matter relating to the Early Termination Schedule
or an amendment thereto within thirty (30) calendar days and shall resolve any matter relating to a Tax Benefit Schedule or an amendment
thereto within fifteen (15) calendar days or as soon thereafter as is reasonably practicable, in each case after the matter has been submitted
to the Expert for resolution. The Expert shall resolve the matters submitted to it based solely on the written submissions of the parties
and not on the basis of an independent review, and shall look solely to items identified in the notice of the Reconciliation Dispute submitted
by the Corporation and the TRA Party Representative. Notwithstanding the foregoing, if the matter is not resolved before any payment that
is the subject of a disagreement would be due (in the absence of such disagreement) or any Tax Return reflecting the subject of a disagreement
is due, the undisputed amount shall be paid on the date prescribed by this Agreement and such Tax Return may be filed as prepared by the
Corporation, subject to adjustment or amendment upon resolution. The costs and expenses relating to the engagement of such Expert or amending
any Tax Return shall be borne by the Corporation. The Corporation and the TRA Party Representative shall otherwise bear their own costs
and expenses of such proceeding, unless (i) the Expert exclusively adopts the TRA Party Representative’s position, in which
case the Corporation shall reimburse the TRA Party Representative for any reasonable out-of-pocket costs and expenses in such proceeding,
or (ii) the Expert adopts the Corporation’s position, in which case the TRA Party Representative shall reimburse the Corporation
for any reasonable out-of-pocket costs and expenses in such proceeding. Any dispute as to whether a dispute is a Reconciliation Dispute
within the meaning of this Section 7.9 shall be decided by the Expert. The Expert shall finally determine any Reconciliation Dispute and
the determinations of the Expert pursuant to this Section 7.9 shall be binding on the Corporation and each of the TRA Parties and may
be entered and enforced in any court having jurisdiction.

Section 7.10.     
Withholding. The Corporation shall be entitled to deduct and withhold from any payment payable pursuant to this Agreement such
amounts as the Corporation is required to deduct and withhold with respect to the making of such payment under the Code or any provision
of state, local or foreign Tax law. To the extent that amounts are so withheld and paid over to the appropriate Taxing Authority by the
Corporation, such withheld amounts shall be treated for all purposes of this Agreement as having been paid to the Person in respect of
whom such withholding was made. To the extent that any payment pursuant to this Agreement is not reduced by such deductions or withholdings,
such recipient shall indemnify the applicable withholding agent for any amounts imposed by any Taxing Authority together with any costs
and expenses related thereto. Each TRA Party shall promptly provide the Corporation or other applicable withholding agent with any applicable
Tax forms and certifications (including IRS Form W-9 or the applicable version of IRS Form W-8) reasonably requested, in connection with
determining whether any such deductions and withholdings are required under the Code or any provision of U.S. state, local or foreign
Tax law.

 

    	 	19	 

     

    

 

Section 7.11.     
Admission of the Corporation into a Consolidated Group; Transfers of Corporate Assets.

(a)              
If the Corporation is or becomes a member of an affiliated or consolidated group of corporations that files a consolidated income
Tax Return pursuant to Sections 1501 et seq. of the Code or any corresponding provisions of state or local law, then: (i) the provisions
of this Agreement shall be applied with respect to the group as a whole; and (ii) Tax Benefit Payments, Early Termination Payments
and other applicable items hereunder shall be computed with reference to the consolidated taxable income of the group as a whole.

(b)              
If the Corporation or any of its Subsidiaries transfers one or more assets to a Person that is not a disregarded entity or a member
of an affiliated or consolidated group together with the Corporation in a non-taxable transaction or for less than fair market value,
for purposes of calculating the amount of any Tax Benefit Payment due hereunder, the Company Group shall be treated as having disposed
of such asset in a fully taxable transaction on the date of such transfer. The consideration deemed to be received by such entity shall
be equal to the gross fair market value of the transferred asset. For purposes of this Section 7.11(b), a transfer of a partnership interest
shall be treated as a transfer of the transferring partner’s applicable share of each of the assets and liabilities of that partnership.

(c)              
If the Corporation or any of its Subsidiaries transfers one or more assets to a Person that is not a disregarded entity or a member
of an affiliated or consolidated group together with the Corporation, the Company Group shall, within three (3) calendar days of the date
of such disposal, pay to each TRA Party its portion (computed on the basis of such TRA Party’s Ownership Percentage) of the aggregate
amount equal to the present value, discounted at the Early Termination Rate as of the date of the disposal, of all Tax Benefit Payments
that would be required to be paid by or with respect to the assets of the Company Group transferred in such disposition (taking into account
all Pre-IPO Tax Benefits outstanding at such time that are attributable to such assets) beginning from the date of such disposition, applying
the Valuation Assumptions in making such computation. For purposes of this Section 7.11(c), a transfer of a partnership interest shall
be treated as a transfer of the transferring partner’s applicable share of each of the assets and liabilities of that partnership.
Payments under this Section 7.11(c) shall be made in the same manner as payments made pursuant to Section 4.3(a).

Section 7.12.     
Confidentiality.

(a)              
Each TRA Party and each of their assignees acknowledge and agree that the information of the Corporation is confidential and, except
in the course of performing any duties as necessary for the Corporation and its Affiliates, as required by law or legal process or to
enforce the terms of this Agreement, such person shall keep and retain in the strictest confidence and not disclose to any Person any
confidential matters, acquired pursuant to this Agreement, of the Corporation and its Affiliates and successors, concerning the Corporation
and its Affiliates and successors or the members, learned by the TRA Party heretofore or hereafter. This Section 7.12 shall not apply
to (i) any information that has been made publicly available by the Corporation or any of its Affiliates, becomes public knowledge (except
as a result of an act of the TRA Party in violation of this Agreement) or is generally known to the business community and (ii) the disclosure
of information to the extent necessary for the TRA Party to prepare and file its

 

    	 	20	 

     

    

 

Tax Returns, to respond to any inquiries regarding the
same from any Taxing Authority or to prosecute or defend any action, proceeding or audit by any Taxing Authority with respect to such
returns. Notwithstanding anything to the contrary herein, each TRA Party and each of its assignees (and each employee, representative
or other agent of the TRA Party or its assignees, as applicable) may disclose to any and all Persons, without limitation of any kind,
the Tax treatment and Tax structure of the Corporation and its Affiliates, and any of their transactions, and all materials of any kind
(including opinions or other Tax analyses) that are provided to the TRA Party relating to such Tax treatment and Tax structure.

(b)              
If a TRA Party or an assignee commits a breach, or threatens to commit a breach, of any of the provisions of this Section 7.12,
the Corporation shall have the right and remedy to have the provisions of this Section 7.12 specifically enforced by injunctive relief
or otherwise by any court of competent jurisdiction without the need to post any bond or other security, it being acknowledged and agreed
that any such breach or threatened breach shall cause irreparable injury to the Corporation or any of its Subsidiaries or the TRA Parties
and that money damages alone shall not provide an adequate remedy to such Persons. Such rights and remedies shall be in addition to, and
not in lieu of, any other rights and remedies available at law or in equity.

Section 7.13.     
TRA Party RepresentativeSection 7.14..

(a)              
By executing this Agreement, each of the TRA Parties shall be deemed to have irrevocably constituted the TRA Party Representative
as his, her or its agent and attorney in fact with full power of substitution to act from and after the date hereof and to do any and
all things and execute any and all documents on behalf of such TRA Parties which may be necessary, convenient or appropriate to facilitate
any matters under this Agreement, including but not limited to: (i) execution of the documents and certificates required pursuant to this
Agreement; (ii) except to the extent specifically provided in this Agreement receipt and forwarding of notices and communications
pursuant to this Agreement; (iii) administration of the provisions of this Agreement; (iv) any and all consents, waivers, amendments
or modifications deemed by the TRA Party Representative, in its sole and absolute discretion, to be necessary or appropriate under this
Agreement and the execution or delivery of any documents that may be necessary or appropriate in connection therewith; (v) amending
this Agreement or any of the instruments to be delivered to the Corporation pursuant to this Agreement; (vi) taking actions the TRA
Party Representative is expressly authorized to take pursuant to the other provisions of this Agreement; (vii) negotiating and compromising,
on behalf of such TRA Parties, any dispute that may arise under, and exercising or refraining from exercising any remedies available under,
this Agreement or any other agreement contemplated hereby and executing, on behalf of such TRA Parties, any settlement agreement, release
or other document with respect to such dispute or remedy; and (viii) engaging attorneys, accountants, agents or consultants on behalf
of such TRA Parties in connection with this Agreement or any other agreement contemplated hereby and paying any fees related thereto.
All reasonable, documented out-of-pocket costs and expenses incurred by the TRA Party Representative in its capacity as such shall be
promptly reimbursed by the Corporation upon invoice and reasonable support therefor by the TRA Party Representative. The power of attorney
granted herein is coupled with an interest and is irrevocable and may be delegated by the TRA Party Representative. The TRA Party Representative
may resign upon thirty (30) days’ written notice to the Corporation, and, may, in

 

    	 	21	 

     

    

 

connection with such resignation, appoint a successor
TRA Party Representative in its sole discretion by identifying such Person in writing to the Corporation.

(b)              
To the fullest extent permitted by law, none of the TRA Party Representative, any of its Affiliates, or any of the TRA Party Representative’s
or Affiliate’s directors, officers, employees, representatives or other agents (each a “Covered Person”) shall
be liable, responsible or accountable in damages or otherwise to any TRA Party or the Corporation, and shall be indemnified by the TRA
Parties (on a several, but not joint, basis), for any liability, loss, damages, penalty or fine arising from any action taken or omitted
to be taken by the TRA Party Representative or any other Covered Person with respect to this Agreement, except in the case of any action
or omission which constitutes, with respect to such Person, willful misconduct or fraud. Each of the Covered Persons may consult with
legal counsel, accountants, and other experts selected by it, and any act or omission suffered or taken by it in good faith in reliance
upon and in accordance with the advice of such counsel, accountants, or other experts shall create a rebuttable presumption of the good
faith and due care of such Covered Person with respect to such act or omission; provided, that such counsel, accountants,
or other experts were selected with reasonable care. Each of the Covered Persons may rely in good faith upon, and shall have no liability
to the Corporation or the TRA Parties for acting or refraining from acting upon, any resolution, certificate, statement, instrument, opinion,
report, notice, request, consent, order, bond, debenture, or other paper or document reasonably believed by it to be genuine and to have
been signed or presented by the proper party or parties.

 

[The remainder of this page is intentionally
blank]

 

    	 	22	 

     

    

 

IN WITNESS WHEREOF, the Corporation and each TRA
Party have duly executed this Agreement as of the date first written above.

 

	 	Corporation:	 
	 	 	 
	 	HIRERIGHT HOLDINGS CORPORATION	 
	 	 	 	 	 
	 	 	 	 	 
	 	By:	/s/ Brian Copple	 
	 	 	Name:	Brian Copple	 
	 	 	Title:	General Counsel and Secretary	 

 

 

 

    	 		 

     

    

 

TRA Party Representative / TRA Party:

 

	 	GENERAL ATLANTIC (HRG) COLLECTIONS, L.P.	 
	 	 	 	 	 
	 	 	 	 	 
	 	By:	/s/ Michael Gosk	 
	 	 	Name:	Michael Gosk	 
	 	 	Title:	Managing Director	 

 

 

	 	TRA Parties:	 
	 	 	 	 
	 	 	 	 
	 	By:	/s/ Michael Gosk	 
	 	 	Name:	Michael Gosk	 

 

	 	By:	/s/ Michael Gosk	 
	 	 	Name:	Michael Gosk	 

 

	 	By:	/s/ Michael Gosk	 
	 	 	Name:	Michael Gosk	 

 

	 	By:	/s/ Stephen Levey	 
	 	 	Name:	Stephen Levey	 

 

	 	By:	/s/ Stephen Levey	 
	 	 	Name:	Stephen Levey	 

 

	 	By:	/s/ Stephen Levey	 
	 	 	Name:	Stephen Levey	 

 

	 	By:	/s/ Stephen Levey	 
	 	 	Name:	Stephen Levey	 

 

	 	By:	/s/ Raymond Conrad	 
	 	 	Name:	Raymond Conrad	 

 

 

 

    	 		 

     

    

 

Exhibit A

Form of Joinder

This JOINDER (this “Joinder”)
to the Tax Receivable Agreement (as defined below), is by and among HireRight Holdings Corporation, a Delaware corporation (including
any successor corporation, the “Corporation”), ______________________ (“Transferor”) and ______________________
(“Permitted Transferee”).

WHEREAS, on ______________________, Permitted
Transferee shall acquire ______________________ percent of the Transferor’s right to receive payments that may become due and payable
under the Tax Receivable Agreement (as defined below) (the “Acquired Interests”) from Transferor (the “Acquisition”);
and

WHEREAS, Transferor, in connection with the Acquisition,
has required Permitted Transferee to execute and deliver this Joinder pursuant to Section 7.6(a) of the Tax Receivable Agreement, dated
as of [                         ],
2021, between the Corporation and the TRA Parties (as defined therein) (the “Tax Receivable Agreement”).

NOW, THEREFORE, in consideration of the foregoing
and the respective covenants and agreements set forth herein, and intending to be legally bound hereby, the parties hereto agree as follows:

Section 1.2 Acquisition. For good and
valuable consideration, the sufficiency of which is hereby acknowledged by the Transferor and the Permitted Transferee, the Transferor
hereby transfers and assigns absolutely to the Permitted Transferee all of the Acquired Interests.

Section 1.3 Joinder. Permitted Transferee
hereby acknowledges and agrees (i) that it has received and read the Tax Receivable Agreement, (ii) that the Permitted Transferee is acquiring
the Acquired Interests in accordance with and subject to the terms and conditions of the Tax Receivable Agreement and (iii) to become
a “TRA Party” (as defined in the Tax Receivable Agreement) for all purposes of the Tax Receivable Agreement.

Section 1.4 Miscellaneous.

(a)              
The provisions of Article VII of the Tax Receivable Agreement (other than Sections 7.9 and 7.11 thereof) shall apply to this Joinder
as if fully set forth herein, mutatis mutandis, and, in accordance therewith, any notice, request, consent, claim, demand, approval,
waiver or other communication to Permitted Transferee shall be delivered or sent to Permitted Transferee at the address set forth on the
signature page hereto in accordance with Section 7.1 of the Tax Receivable Agreement

(b)              
To the extent capitalized words used in this Joinder are not defined in this Joinder, such words shall have the respective meanings
set forth in the Tax Receivable Agreement.

 

    	 		 

     

    

 

IN WITNESS WHEREOF, this Joinder has been duly
executed and delivered by Permitted Transferee as of the date first above written.

 

	 	HIRERIGHT HOLDINGS CORPORATION	 
	 	 	 	 	 
	 	 	 	 	 
	 	By:	 	 
	 	 	Name:	 	 
	 	 	Title:	 	 

 

	 	[TRANSFEROR]	 
	 	 	 	 	 
	 	 	 	 	 
	 	By:	 	 
	 	 	Name:	 	 
	 	 	Title:	 	 

 

	 	[PERMITTED TRANSFEREE]	 
	 	 	 	 	 
	 	 	 	 	 
	 	By:	 	 
	 	 	Name:	 	 
	 	 	Title:	 	 
	 	 	 	 	 
	 	 	 	 	 
	 	Address for notices:EXHIBIT 10.2

HireRight Holdings Corporation

2021 Omnibus Incentive Plan

1.          
Purpose. The HireRight Holdings Corporation 2021 Omnibus Incentive Plan (as amended from time to time, the “Plan”)
is intended to help HireRight Holdings Corporation, a Delaware corporation (including any successor thereto, the “Company”),
and its Affiliates (i) attract and retain key personnel by providing them the opportunity to acquire an equity interest in the Company
or other incentive compensation measured by reference to the value of Common Stock or a targeted dollar value if denominated in cash,
and (ii) align the interests of key personnel with those of the Company’s stockholders.

2.          
Effective Date; Duration. The effective date of the Plan (the “Effective Date”) is the date on which
the statutory conversion of HireRight GIS Group Holdings LLC, a Delaware limited liability company, into the Company is completed. The
expiration date of the Plan, on and after which date no Awards may be granted, shall be the tenth anniversary of the Effective Date; provided,
however, that such expiration shall not affect Awards then outstanding, and the terms and conditions of the Plan shall continue
to apply to such Awards.

3.          
Definitions. The following definitions shall apply throughout the Plan:

(a)          “Affiliate” means any person or entity that directly or indirectly controls, is controlled by or is under common
control with the Company. The term “control” (including, with correlative meaning, the terms “controlled by” and
“under common control with”), as applied to any person or entity, means the possession, directly or indirectly, of the power
to direct or cause the direction of the management and policies of such person or entity, whether through the ownership of voting or other
securities, by contract or otherwise.

(b)          “Award” means any Incentive Stock Option, Nonqualified Stock Option, Stock Appreciation Right, Restricted Stock,
Restricted Stock Unit, Other Stock-Based Award, or Other Cash-Based Award granted under the Plan.

(c)          “Award Document” means the agreement or other instrument, notice or other document (whether in written or electronic
form) evidencing any Award granted under the Plan. Any reference herein to an Award Document or other agreement or document will include
any agreement or document delivered electronically or posted on the Company’s intranet or other shared electronic medium controlled
by the Company to which the Participant has access.

(d)          “Beneficial Ownership” has the meaning set forth in Rule 13d-3 promulgated under Section 13 of the Exchange
Act.

(e)          “Board” means the Board of Directors of the Company.

(f)          “Cause” in the case of a particular Award, unless the applicable Award Document states otherwise, (i) shall
have the meaning given such term (or term of similar import) in any employment, consulting, change-in-control, severance or any other
agreement between the Participant and the Company or an Affiliate, or severance plan of the Company or an Affiliate in which the Participant
is eligible to participate, in either case in effect at the time of the Participant’s termination of employment or service with
the Company and its Affiliates, or (ii) if “cause” or term of similar import is not defined in, or in the absence of,
any such employment, consulting, change-in-control, severance or any other agreement between the Participant and the Company or an Affiliate,
or severance plan in which the Participant is eligible to participate, means: (A) embezzlement, theft, misappropriation or conversion,
or attempted embezzlement, theft, misappropriation or conversion, by the Participant of any material property, funds or business opportunity
of the Company or any of its Subsidiaries, or any other act by the Participant involving

     

     

    

material and intentional theft, fraud, dishonesty,
misrepresentation or moral turpitude; (B) willful failure or refusal by the Participant to perform any lawful directive of the Board or
the Chief Executive Officer (or his or her delegate), or the duties of his or her employment; (C) failure to comply with any legal or
compliance policies or code of ethics, code of business conduct, conflicts of interest policy or similar policies of the Company or its
Subsidiaries; (D) gross negligence or material willful misconduct on the part of the Participant in the performance of his or her duties
as an employee, officer or director of the Company or any of its Subsidiaries; (E) the Participant’s willful and material breach
of any contractual obligation, fiduciary duty, or duty of loyalty to the Company or any of its Subsidiaries; (F) any act or omission to
act of the Participant intended to materially harm or damage the business, property, operations, financial condition or reputation of
the Company or any of its Subsidiaries; (G) the Participant’s failure to cooperate, if requested by the Board, with any investigation
or inquiry into the business practices, whether internal or external, or the Company and its Subsidiaries or the Participant, including
the Participant’s refusal to be deposed or to provide testimony or evidence at any trial, proceeding or inquiry; or (H) the Participant’s
voluntary resignation or other termination of employment effected by the Participant at any time when the Company could effect such termination
with Cause, provided that any act or conduct by a Participant described in item (B), (C), (D), (E), or (G) will not constitute Cause if
(i) the Participant ceases such act or conduct and cures its effects in all material respects within a period of thirty (30) days following
notice thereof by the Board or the Chief Executive Officer (or his or her delegate) to the Participant; and (ii) the Participant has not
previously engaged in any act or conduct described in item (B), (C), (D), (E), or (G) that did not constitute Cause because the Participant
ceased such act or conduct and cured its effects in all material respects within 30 days after notice, as described above. The determination
as to whether a Participant’s service is being terminated for Cause will be made in good faith by the Company and will be final
and binding on the Participant. Any determination by the Company that the service of a Participant was terminated with or without Cause
for the purposes of outstanding Awards held by such Participant will have no effect upon any determination of the rights or obligations
of the Company, any Affiliate or such Participant for any other purpose.

(g)          
“Change in Control” means, in the case of a particular Award, unless the applicable Award Document (or any employment,
consulting, change-in-control, severance or other agreement between the Participant and the Company or an Affiliate) states otherwise,
the first to occur of any of the following events:

(i)          the acquisition by any Person or related “group” (as such term is used in Section 13(d) and Section 14(d) of the Exchange
Act) of Persons, or Persons acting jointly or in concert, of Beneficial Ownership (including control or direction) of 50% or more (on
a fully diluted basis) of either (A) the then-outstanding shares of Common Stock, including Common Stock issuable upon the exercise
of options or warrants, the conversion of convertible stock or debt, and the exercise of any similar right to acquire such Common Stock
(the “Outstanding Company Common Stock”), or (B) the combined voting power of the then-outstanding voting
securities of the Company entitled to vote in the election of directors (the “Outstanding Company Voting Securities”),
but excluding any acquisition by the Company or any of its Affiliates, or the General Atlantic Investor or the Stone Point Investor or
any of their respective Affiliates, or by any employee benefit plan sponsored or maintained by the Company or any of its Affiliates;

(ii)            a change in the composition of the Board such that members of the Board during any consecutive 12-month period (the “Incumbent
Directors”) cease to constitute a majority of the Board. Any person becoming a director through election or nomination for
election approved by a valid vote of at least two-thirds of the Incumbent Directors shall be deemed an Incumbent Director; provided,
however, that no individual becoming a director as a result of an actual or threatened election contest, as such terms are used
in Rule 14a-12 of Regulation 14A promulgated under the

    	 	 	2

     

    

Exchange Act, or as a result of any other
actual or threatened solicitation of proxies or consents by or on behalf of any person other than the Board, shall be deemed an Incumbent
Director;

(iii)           the approval by the stockholders of the Company of a plan of complete dissolution or liquidation of the Company; and

(iv)           the consummation of a reorganization, recapitalization, merger, amalgamation, consolidation, statutory share exchange or similar
form of corporate transaction involving the Company (a “Business Combination”), or sale, transfer or other disposition
of all or substantially all of the business or assets of the Company to an entity that is not an Affiliate of the Company (a “Sale”),
unless immediately following such Business Combination or Sale: (A) more than 50% of the total voting power of the entity resulting
from such Business Combination or the entity that acquired all or substantially all of the business or assets of the Company in such Sale
(in either case, the “Surviving Company”), or the ultimate parent entity that has Beneficial Ownership of sufficient
voting power to elect a majority of the board of directors (or analogous governing body) of the Surviving Company (the “Parent
Company”), is represented by the Outstanding Company Voting Securities that were outstanding immediately prior to such Business
Combination or Sale (or, if applicable, is represented by shares into which the Outstanding Company Voting Securities were converted pursuant
to such Business Combination or Sale), and such voting power among the holders thereof is in substantially the same proportion as the
voting power of the Outstanding Company Voting Securities among the holders thereof immediately prior to the Business Combination or Sale,
(B) no Person (other than any employee benefit plan sponsored or maintained by the Surviving Company or the Parent Company) is or
becomes the beneficial owner, directly or indirectly, of 50% or more of the total voting power of the outstanding voting securities eligible
to elect members of the board of directors (or the analogous governing body) of the Parent Company (or, if there is no Parent Company,
the Surviving Company), and (C) at least a majority of the members of the board of directors (or the analogous governing body) of
the Parent Company (or, if there is no Parent Company, the Surviving Company) immediately following the consummation of the Business Combination
or Sale were Board members at the time of the Board’s approval of the execution of the initial agreement providing for such Business
Combination or Sale.

(h)          
“Code” means the U.S. Internal Revenue Code of 1986, as amended, and any successor thereto. References to any
section of the Code shall be deemed to include any regulations or other interpretative guidance under such section, and any amendments
or successors thereto.

(i)          
“Committee” means the Compensation Committee of the Board (or subcommittee thereof if required with respect
to actions taken to comply with Rule 16b-3 promulgated under the Exchange Act in respect of Awards) or, if no such Compensation Committee
or subcommittee thereof exists, or if the Board otherwise takes action hereunder on behalf of the Committee, the Board.

(j)          
“Common Stock” means the common stock of the Company, par value $0.001 per share (and any stock or other securities
into which such common stock are converted or into which they are exchanged).

(k)          
“Date of Grant” or ”Grant Date” of an Award has the meaning set forth in Section 4(f) of
the Plan.

(l)          
“Disability” means cause for termination of the Participant’s employment or service due to a determination
that the Participant is disabled in accordance with a long-term disability insurance program maintained by the Company or a determination
by the U.S. Social Security Administration that the Participant is totally disabled.

    	 	 	3

     

    

(m)          
 “$” shall refer to the United States dollars.

(n)          
“Effective Date” has the meaning set forth in Section 2 of the Plan.

(o)          
“Eligible Director” means a director who satisfies the conditions set forth in Section 4(a) of the Plan.

(p)          
“Eligible Person” means any (i) individual employed by the Company or a Subsidiary, (ii) director
or officer of the Company or a Subsidiary, (iii) consultant or advisor to the Company or a Subsidiary who may be offered securities
registrable on Form S-8 under the Securities Act, or (iv) prospective employee, director, officer, consultant or advisor who has
accepted an offer of employment or service from the Company or its Subsidiaries (and would satisfy the provisions of clause (i), (ii)
or (iii) above once such individual begins employment with or providing services to the Company or a Subsidiary).

(q)          
“Exchange” means the New York Stock Exchange and/or any other securities exchange or inter-dealer quotation
service on which the Common Stock is listed or quoted, as applicable.

(r)          
“Exchange Act” means the U.S. Securities Exchange Act of 1934, as amended, and any successor thereto. References
to any section of (or rule promulgated under) the Exchange Act shall be deemed to include any rules, regulations or other interpretative
guidance under such section or rule, and any amendments or successors thereto.

(s)          
“Exercise Price” has the meaning set forth in Section 7(b) of the Plan.

(t)          
“Fair Market Value” means, (i) with respect to Common Stock on a given date, (x) if the Common Stock
is listed on a national securities exchange, the closing sales price of a share of Common Stock reported on such exchange on such date,
or if there is no such sale on that date, then on the last preceding date on which such a sale was reported, or (y) if the Common
Stock is not listed on any national securities exchange, the amount determined by the Committee in good faith to be the fair market value
of the Common Stock, or (ii) with respect to any other property on any given date, the amount determined by the Committee in good
faith to be the fair market value of such other property as of such date; provided, however, as to any Awards with a Date
of Grant that is the date of the pricing of the Company’s initial public offering, “Fair Market Value” shall be equal
to the per share price at which the Common Stock is offered to the public in connection with such initial public offering.

(u)          
“General Atlantic Investor” means, collectively, the investment funds managed, sponsored or advised by General
Atlantic Service Company, L.P. (including without limitation GA AIV-1 A Interholdco (GS), L.P.; GA AIV-1 B Interholdco (GS), L.P.; GAPCO
AIV Interholdco (GS), L.P.; and General Atlantic (HRG) Collections, L.P.). A reference to a member of General Atlantic Investor is a reference
to any such investment fund.

(v)          
“Immediate Family Members” has the meaning set forth in Section 14(b)(ii) of the Plan.

(w)          
“Incentive Stock Option” means an Option that is designated by the Committee as an incentive stock option as
described in Section 422 of the Code and otherwise meets the requirements set forth in the Plan.

(x)          
“Indemnifiable Person” has the meaning set forth in Section 4(i) of the Plan.

(y)          
“Intrinsic Value” with respect to an Option or SAR means (i) the excess, if any, of the price or implied price
per share of Common Stock in a Change in Control or other event over (ii) the exercise or

    	 	 	4

     

    

hurdle price of such Award multiplied by (iii)
the number of shares of Common Stock covered by such Award.

(z)           
“Nonqualified Stock Option” means an Option that is not designated by the Committee as an Incentive Stock Option.

(aa)          
“Option” means an Award granted under Section 7 of the Plan.

(bb)          
“Option Period” has the meaning set forth in Section 7(c) of the Plan.

(cc)          
“Other Cash-Based Award” has the meaning set forth in Section 10 of the Plan.

(dd)          
“Other Stock-Based Award” has the meaning set forth in Section 10 of the Plan.

(ee)          
“Participant” has the meaning set forth in Section 6 of the Plan.

(ff)          
“Performance Conditions” means specific levels of performance of the Company (and/or one or more Affiliates,
divisions or operational and/or business units, product lines, brands, business segments, administrative departments, units, or any combination
of the foregoing), which may be determined in accordance with GAAP or on a non-GAAP basis, and with or without adjustments, including
without limitation, on the following measures: (i) net earnings or net income (before or after taxes); (ii) basic or diluted
earnings per share (before or after taxes); (iii) net revenue or net revenue growth; (iv) gross revenue or gross revenue growth,
gross profit or gross profit growth; (v) net operating profit (before or after taxes); (vi) return measures (including, but
not limited to, return on investment, assets, net assets, capital, gross revenue or gross revenue growth, invested capital, equity or
sales); (vii) cash flow measures (including, but not limited to, operating cash flow, free cash flow and cash flow return on capital),
which may but are not required to be measured on a per-share basis; (viii) earnings before or after taxes, interest, depreciation,
and amortization (including EBIT and EBITDA) ; (ix) gross or net operating margins; (x) productivity ratios; (xi) share
price (including, but not limited to, growth measures and total shareholder return); (xii) expense targets or cost reduction goals,
general and administrative expense savings; (xiii) operating efficiency; (xiv)  customer satisfaction; (xv) working capital
targets; (xvi) measures of economic value added or other ‘‘value creation’’ metrics; (xvii) enterprise
value; (xviii) stockholder return; (xix) client or customer retention; (xx) competitive market metrics; (xxi) employee
retention; (xxii)  personal targets, goals or completion of projects (including but not limited to succession and hiring projects,
completion of specific acquisitions, reorganizations or other corporate transactions or capital-raising transactions, expansions of specific
business operations and meeting divisional or project budgets); (xxiii) system-wide sales; (xxiv) cost of capital, debt leverage
year-end cash position or book value; (xxv) strategic objectives, development of new product lines and related revenue, sales and
margin targets, or international operations; (xxvi) product or line of business growth or sales growth; or any combination of the foregoing.
Any one or more of the aforementioned performance criteria may be stated as a percentage of another performance criteria, or used on an
absolute or relative basis to measure the performance of the Company and/or one or more Affiliates as a whole or any divisions or operational
and/or business units, product lines, brands, business segments, administrative departments of the Company and/or one or more Affiliates
or any combination thereof, as the Committee may deem appropriate, or any of the above performance criteria may be compared to the performance
of a group of comparator companies, or a published or special index that the Committee deems appropriate, or as compared to various stock
market indices. The Performance Conditions may include a threshold level of performance below which no payment shall be made (or no vesting
shall occur), levels of performance at which specified payments shall be made (or specified vesting shall occur), and a maximum level
of performance above which no additional payment shall be made (or at which full vesting shall occur). The Committee shall have the authority
to

    	 	 	5

     

    

make equitable adjustments to the Performance
Conditions as may be determined by the Committee, in its sole discretion.

(gg)       
“Permitted Transferee” has the meaning set forth in Section 14(b)(ii) of the Plan.

(hh)       
“Person” has the meaning given in Section 3(a)(9) of the Exchange Act, as modified and used in Sections 13(d)
and 14(d) thereof, except that such term shall not include (i) the Company or any of its Subsidiaries, (ii) a trustee or other
fiduciary holding securities under an employee benefit plan of the Company or any of its Affiliates, (iii) an underwriter temporarily
holding securities pursuant to an offering of such securities, or (iv) a corporation owned, directly or indirectly, by the stockholders
of the Company in substantially the same proportions as their ownership of Common Stock of the Company.

(ii)          
“Released Unit” has the meaning set forth in Section 9(d)(ii) of the Plan.

(jj)          
“Restricted Period” has the meaning set forth in Section 9(a) of the Plan.

(kk)       
“Restricted Stock” means an Award of Common Stock, subject to certain specified restrictions, granted under
Section 9 of the Plan.

(ll)        
“Restricted Stock Unit” means an Award of an unfunded and unsecured promise to deliver shares of Common Stock,
cash, other securities or other property, subject to certain specified restrictions, granted under Section 9 of the Plan.

(mm)     
“SAR Period” has the meaning set forth in Section 8(c) of the Plan.

(nn)      
“Securities Act” means the U.S. Securities Act of 1933, as amended, and any successor thereto. Reference in
the Plan to any section of (or rule promulgated under) the Securities Act shall be deemed to include any rules, regulations or other interpretative
guidance under such section or rule, and any amendments or successor provisions to such section, rules, regulations or other interpretive
guidance.

(oo)      
“Stock Appreciation Right” or “SAR” means an Award granted under Section 8 of the Plan.

(pp)      
“Stone Point Investor” means, collectively, the investment funds managed, sponsored or advised by Stone Point
Capital LLC (including without limitation Trident VII DE Parallel Fund, L.P.; Trident VII, L.P.; Trident VII Parallel Fund, L.P.; and
Trident VII Professionals Fund, L.P.). A reference to a member of Stone Point Investor is a reference to any such investment fund.

(qq)       
“Strike Price” has the meaning set forth in Section 8(b) of the Plan.

(rr)         
“Subsidiary” means any corporation or other entity a majority of whose outstanding voting stock or voting power
is beneficially owned directly or indirectly by the Company.

(ss)        
“Substitute Awards” has the meaning set forth in Section 5(e) of the Plan.

4.          
Administration.

(a)          
The Committee shall administer the Plan, and shall have the sole and plenary authority to (i) designate the Participants,
(ii) determine the type, size, and terms and conditions of Awards to be granted and to grant such Awards, (iii) determine the
method by which an Award may be settled, exercised, canceled, forfeited, suspended, or repurchased by the Company, (iv) determine
the circumstances under

    	 	 	6

     

    

which the delivery of cash, property or other
amounts payable with respect to an Award may be deferred, either automatically or at the Participant’s or Committee’s election,
(v) interpret, administer, reconcile any inconsistency in, correct any defect in and supply any omission in the Plan and any Award
granted under the Plan, (vi) establish, amend, suspend, or waive any rules and regulations and appoint such agents as the Committee
shall deem appropriate for the proper administration of the Plan, (vii) accelerate the vesting, delivery or exercisability of, or
payment for or lapse of restrictions on, or waive any condition in respect of, Awards, (viii) make any other determination and take
any other action that the Committee deems necessary or desirable for the administration of the Plan or to comply with any applicable law,
and (ix) settle all controversies regarding the Plan and Awards. To the extent required to comply with the provisions of Rule 16b-3 promulgated
under the Exchange Act (if applicable and if the Board is not acting as the Committee under the Plan), or any exception or exemption under
applicable securities laws or the applicable rules of the Exchange, it is intended that each member of the Committee shall, at the time
such member takes any action with respect to an Award under the Plan, be (1) a “non-employee director” within the meaning
of Rule 16b-3 promulgated under the Exchange Act and/or (2) an “independent director” under the rules of the Exchange,
or a person meeting any similar requirement under any successor rule or regulation (“Eligible Director”). However,
the fact that a Committee member shall fail to qualify as an Eligible Director shall not invalidate any Award granted or action taken
by the Committee that is otherwise validly granted or taken under the Plan.

(b)          
The Committee may delegate all or any portion of its responsibilities and powers to any person(s) selected by it, except for grants
of Awards to persons who are non-employee members of the Board or are otherwise subject to Section 16 of the Exchange Act. Any such delegation
may be revoked by the Committee at any time.

(c)          
As further set forth in Section 14(f) of the Plan, the Committee shall have the authority to amend the Plan and Awards to the extent
necessary to permit participation in the Plan by Eligible Persons who are located outside of the United States on terms and conditions
comparable to those afforded to Eligible Persons located within the United States; provided, however, that no such action
shall be taken without stockholder approval if such approval is required by applicable securities laws or regulation or Exchange listing
guidelines.

(d)          
The Committee may in its discretion amend the terms of any one or more outstanding Awards, including, but not limited to, amendments
to provide terms more favorable to the Participant than previously provided in the Award Documents for such Awards, subject to any specified
limits in the Plan that are not subject to Board discretion. A Participant’s rights under any Award will not be impaired by any
such amendment unless the Company obtains the written consent of the affected Participant. A Participant’s rights will not be deemed
to have been impaired by any such amendment if the Committee, in its sole discretion, determines that the amendment, taken as a whole,
does not materially impair the Participant’s rights. In addition, subject to the limitations of applicable law, if any, the Committee
may amend the terms of any one or more Awards without the affected Participant’s consent (i) to maintain the qualified status of
the Award as an Incentive Stock Option under Section 422 of the Code, (ii) to clarify the manner of exemption from, or to bring the Award
into compliance with Section 409A of the Code, or (iii) to comply with other applicable laws or regulations or Exchange requirements.

(e)          
If after the Date of Grant of any Award to a Participant, the Participant’s regular level of time commitment in the performance
of his or her services for the Company and any Affiliates is reduced (for example, and without limitation, if the Participant is an employee
of the Company and has a change in status from a full-time employee to a part-time employee or takes an extended leave of absence), or
the Participant’s role or primary responsibilities are changed to a level that, in the good faith determination by the Committee
does not justify the Participant’s unvested Awards, the Committee has the right in its sole discretion to (i) make a corresponding
reduction in the number of shares or cash amount subject to any

    	 	 	7

     

    

portion of such Award that is scheduled to
vest or become payable after the date of such change in time commitment and (ii) in lieu of or in combination with such a reduction, extend
the vesting or payment schedule applicable to such Award.

(f)          
 The “Date of Grant” or “Grant Date” of an Award will, except as otherwise specified by Generally Accepted
Accounting Principles in the U.S. and/or U.S. Treasury Regulations, each as may be applicable to a particular Award, be the latest date
that all necessary corporate action constituting a grant by the Company of the Award to any Participant has been completed and all terms
of the Award (including, in the case of Options, the exercise price thereof) are fixed or determinable, unless a later date is specified
by the Committee. The date the documentation evidencing the Award is communicated to, or actually received or accepted by, the Participant
does not affect the Date of Grant, if not unreasonably delayed.

(g)          
In the event that the corporate records (e.g., Board consents, resolutions or minutes) documenting the corporate action constituting
the grant contain terms (e.g., exercise price, vesting schedule or number of shares) that are inconsistent with those in the Award Document
as a result of a clerical error in the papering of the Award Document, the corporate records will control and the Participant will have
no legally binding right to the incorrect term in the Award Document.

(h)          
Unless otherwise expressly provided in the Plan, all designations, determinations, interpretations, and other decisions regarding
the Plan or any Award or any documents evidencing Awards granted pursuant to the Plan shall be within the sole discretion of the Committee,
may be made at any time and shall be final, conclusive and binding upon all persons and entities, including, without limitation, the Company,
any Affiliate, any Participant, any holder or beneficiary of any Award, and any stockholder of the Company.

(i)          
No member of the Board or the Committee, nor any employee or agent of the Company (each such person, an “Indemnifiable
Person”), shall be liable for any action taken or omitted to be taken or any determination made with respect to the Plan
or any Award hereunder (unless constituting fraud or a willful criminal act or willful criminal omission). Each Indemnifiable Person shall
be indemnified and held harmless by the Company against and from any loss, cost, liability, or expense (including attorneys’ fees)
that may be imposed upon or incurred by such Indemnifiable Person in connection with or resulting from any action, suit or proceeding
to which such Indemnifiable Person may be involved as a party, witness or otherwise by reason of any action taken or omitted to be taken
or determination made under the Plan or any Award Document and against and from any and all amounts paid by such Indemnifiable Person
with the Company’s approval (not to be unreasonably withheld or delayed), in defense and settlement thereof, or paid by such Indemnifiable
Person in satisfaction of any judgment in any such action, suit or proceeding against such Indemnifiable Person, and the Company shall
advance to such Indemnifiable Person any such expenses promptly upon written request (which request shall include an undertaking by the
Indemnifiable Person to repay the amount of such advance if it shall ultimately be determined as provided below that the Indemnifiable
Person is not entitled to be indemnified); provided, that the Company shall have the right, at its own expense, to assume and defend
any such action, suit or proceeding, and once the Company gives notice of its intent to assume the defense, the Company shall have sole
control over such defense with counsel of recognized standing of the Company’s choice. The foregoing right of indemnification shall
not be available to an Indemnifiable Person to the extent that a final judgment or other final adjudication (in either case not subject
to further appeal) binding upon such Indemnifiable Person determines that the acts or omissions or determinations of such Indemnifiable
Person giving rise to the indemnification claim resulted from such Indemnifiable Person’s fraud or willful criminal act or willful
criminal omission or that such right of indemnification is otherwise prohibited by law or by the Company’s certificate of incorporation
or by-laws. The foregoing right of indemnification shall not be exclusive of or otherwise supersede any other rights of indemnification
to which such Indemnifiable Persons may be entitled under the Company’s certificate of incorporation, by-laws or policy, as a matter
of law, individual indemnification

    	 	 	8

     

    

agreement or contract or otherwise, or any
other power or obligation that the Company may have to indemnify or defend such Indemnifiable Persons or hold them harmless.

(j)          
The Board may at any time and from time to time grant Awards and administer the Plan with respect to such Awards. In any such case,
the Board shall have all the authority granted to the Committee under the Plan.

5.          
Grant of Awards; Shares Subject to the Plan; Limitations.

(a)          
Awards. The Committee may grant Awards to one or more Eligible Persons. All Awards granted under the Plan shall vest and
become exercisable in such manner and on such date or dates or upon such event or events as determined by the Committee, including, without
limitation, attainment of Performance Conditions.

(b)          
Share Pool and Limits. Subject to Section 11 of the Plan and subsection (e) below, the following limitations apply to the
grant of Awards: (i) no more than 7,939,051 shares of Common Stock may be reserved for issuance and delivered in the aggregate pursuant
to Awards granted under the Plan, subject to an annual increase on the first day of each calendar year beginning on January 1, 2022 and
ending on and including January 1, 2031, equal to the lesser of (A) 4% of the aggregate number of shares of Common Stock outstanding on
the final day of the immediately preceding calendar year and (B) such smaller number of shares as is determined by the Board (the “Share
Pool”); (ii) no more than 7,939,051 shares of Common Stock may be delivered pursuant to the exercise of Incentive Stock
Options granted under the Plan; and (iii) the maximum amount (based on the Fair Market Value of shares of Common Stock on the Date
of Grant as determined in accordance with applicable financial accounting rules) of Awards that may be granted in any single fiscal year
to any non-employee member of the Board, taken together with any cash fees paid to such non-employee member of the Board in respect of
service as a member of the Board during such fiscal year, shall be $700,000 provided, that the foregoing limitation shall not apply
in respect of any Awards issued to (x) a non-employee director in connection with the Company’s initial public offering of shares
of Common Stock, or in respect of any one-time equity grant upon his or her appointment to the Board or (y) a non-executive chairman of
the Board, provided, that the non-employee director receiving such additional compensation does not participate in the decision to award
such compensation.

(c)          
Share Counting. The Share Pool shall be reduced, on the Date of Grant, by the relevant number of shares of Common Stock
underlying each Award; provided that Awards that are valued by reference to shares of Common Stock but are required to be paid in cash
pursuant to their terms shall not reduce the Share Pool. If and to the extent that Awards originating from the Share Pool terminate, expire,
or are cash-settled, canceled, forfeited, exchanged, or surrendered without having been exercised, vested, or settled, the shares of Common
Stock subject to such Awards shall again be available for Awards under the Share Pool. In addition, the following shares of Common Stock
relating to Awards originating from the Share Pool shall become available for issuance under the Plan: (i) shares of Common Stock
tendered by the Participants, or withheld by the Company, as full or partial payment to the Company upon the exercise of Options granted
under the Plan; (ii) shares of Common Stock reserved for issuance upon the grant of Stock Appreciation Rights, to the extent that
the number of reserved shares of Common Stock exceeds the number of shares of Common Stock actually issued upon the exercise of the Stock
Appreciation Rights; (iii) shares of Common Stock withheld by, or otherwise remitted to, the Company to satisfy a Participant’s
tax withholding obligations upon the exercise, lapse of restrictions on, or settlement of, Awards granted under the Plan.

    	 	 	9

     

    

(d)          
 Source of Shares. Shares of Common Stock delivered by the Company in settlement of Awards may be authorized and unissued
shares, shares held in the treasury of the Company, shares purchased on the open market or by private purchase, or a combination of the
foregoing.

(e)          
Substitute Awards. The Committee may grant Awards in assumption of, or in substitution for, outstanding awards previously
granted by an entity directly or indirectly acquired by the Company or with which the Company combines (“Substitute Awards”),
and such Substitute Awards shall not be counted against the aggregate number of shares of Common Stock available for Awards (i.e., Substitute
Awards will not be counted against the Share Pool); provided, that Substitute Awards issued or intended as “incentive stock
options” within the meaning of Section 422 of the Code shall be counted against the aggregate number of Incentive Stock Options
available under the Plan.

6.          
Eligibility. Participation shall be limited to Eligible Persons who have (i) been selected by the Committee to receive an Award
under the Plan; (ii) entered into an Award Document in the form of an Agreement with the Company with respect to the Award, if required
to do so by the Committee; and (iii) satisfied such other conditions to receipt of the Award as the Committee may specify in its discretion
(each such Eligible Person, a “Participant”).

7.          
Options.

(a)          
Generally. Each Option shall entitle its recipient to purchase shares of Common Stock, on the terms and subject to the conditions
set forth in the Plan and in the applicable Award Document. All Options granted under the Plan shall be Nonqualified Stock Options unless
the Award Document expressly states otherwise. Incentive Stock Options shall be granted only subject to and in compliance with Section
422 of the Code, and only to Eligible Persons who are employees of the Company and its Subsidiaries and who are eligible to receive an
Incentive Stock Option under the Code. If for any reason an Option intended to be an Incentive Stock Option (or any portion thereof) shall
not qualify as an Incentive Stock Option, then, to the extent of such non-qualification, such Option or portion thereof shall be regarded
as a Nonqualified Stock Option properly granted under the Plan.

(b)          
Exercise Price. The exercise price (“Exercise Price”) per share of Common Stock for each Option
(that is not a Substitute Award) shall not be less than 100% of the Fair Market Value of such share, determined as of the Date of Grant.
Any modification to the Exercise Price of an outstanding Option shall be subject to the prohibition on repricing set forth in Section
13(b).

(c)          
Vesting, Exercise and Expiration. The Committee shall determine the manner and timing of vesting, exercise and expiration
of Options. The period between the Date of Grant and the scheduled expiration date of the Option (“Option Period”)
shall not exceed ten years, unless the Option Period (other than in the case of an Incentive Stock Option) would expire at a time when
trading in the shares of Common Stock is prohibited by the Company’s insider-trading policy or a Company-imposed “blackout
period,” in which case the Option Period shall be extended automatically (other than with respect to Options with an Exercise Price
as of the end of the Option Period (prior to any such extension) that is not less than the Fair Market Value of a share of Common Stock
at such time) until the 30th day following the expiration of such prohibition (so long as such extension shall not violate Section 409A
of the Code). The Company is not responsible for providing to Participants any notice or reminder of the impending expiration of their
Options, and doing so at any time or for any Participant does not obligate the Company to do so at any other time or for any other Participant.
The Committee may accelerate the vesting and/or exercisability of any Option, which acceleration shall not affect any other terms and
conditions of such Option, and without any obligation to accelerate the vesting and/or exercisability of any other Award.

    	 	 	10

     

    

(d)          
 Method of Exercise and Form of Payment. No shares of Common Stock shall be delivered pursuant to any exercise of an Option
until the Participant has paid the Exercise Price to the Company in full and satisfied all associated tax obligations in accordance with
Section 14(d). If and to the extent that all conditions to exercise are satisfied, Options may be exercised by delivery of written or
electronic notice of exercise to the Company or its designee (including a third-party administrator) in accordance with the terms of the
Option and the Award Document and any related procedures the Committee may establish from time to time, accompanied by payment of the
Exercise Price and such applicable tax obligations. The Exercise Price shall be payable (i) in cash or by check, cash equivalent
and/or shares of Common Stock valued at the Fair Market Value at the time the Option is exercised (including, pursuant to procedures approved
by the Committee, by means of attestation of ownership of a sufficient number of shares of Common Stock in lieu of actual delivery of
such shares to the Company) or any combination of the foregoing; provided, that such shares of Common Stock are not subject to
any pledge or other security interest; or (ii) by such other method as elected by the Participant and that the Committee may permit,
in its sole discretion, including without limitation: (A) in the form of other property having a Fair Market Value on the date of
exercise equal to the Exercise Price and all applicable tax obligations; (B) if there is a public market for the shares of Common
Stock at such time, by means of a broker-assisted “cashless exercise” pursuant to which the Company or its designee (including
third-party administrators) is delivered a copy of irrevocable instructions to a stockbroker to sell shares of Common Stock otherwise
deliverable upon the exercise of the Option and to deliver promptly to the Company an amount equal to the Exercise Price and all applicable
tax obligations against delivery of the shares of Common Stock to settle the applicable trade; or (C) by means of a “net exercise”
procedure effected by withholding the minimum number of shares of Common Stock otherwise deliverable in respect of an Option that, valued
at Fair Market Value on the date of exercise, are needed to pay the Exercise Price and all applicable tax obligations. No fractional shares
of Common Stock shall be issued or delivered pursuant to the Plan or any Award, and the Committee shall determine whether cash, other
securities or other property shall be paid or transferred in lieu of any fractional shares of Common Stock, or whether such fractional
shares of Common Stock or any rights thereto shall be canceled, terminated or otherwise eliminated.

(e)          
Notification upon Disqualifying Disposition of an Incentive Stock Option. Each Participant awarded an Incentive Stock Option
under the Plan shall notify the Company in writing immediately after the date on which the Participant makes a disqualifying disposition
of any Common Stock acquired pursuant to the exercise of such Incentive Stock Option. A disqualifying disposition is any disposition (including,
without limitation, any sale) of such Common Stock before the later of (i) two years after the Date of Grant of the Incentive Stock
Option and (ii) one year after the date of exercise of the Incentive Stock Option. The Company may, if determined by the Committee
and in accordance with procedures established by the Committee, retain possession, as agent for the applicable Participant, of any Common
Stock acquired pursuant to the exercise of an Incentive Stock Option until the end of the period described in the preceding sentence,
subject to complying with any instruction from such Participant as to the sale of such Common Stock.

(f)          
Compliance with Laws. Notwithstanding the foregoing, in no event shall the Participant be permitted to exercise an Option
in a manner that the Committee determines would violate the Sarbanes-Oxley Act of 2002, or any other applicable law or the applicable
rules and regulations of the Securities and Exchange Commission or the applicable rules and regulations of the Exchange.

(g)          
Incentive Stock Option Grants to 10% Stockholders. Notwithstanding anything to the contrary in this Section 7, if an Incentive
Stock Option is granted to a Participant who owns stock representing more than ten percent of the voting power of all classes of stock
of the Company or of a parent or subsidiary of the Company (within the meaning of Sections 424(e) and 424(f) of the Code), the Option
Period shall not exceed five years from the Date of Grant of such Option and the Exercise Price shall be at least 110% of the Fair Market
Value (on the Date of Grant) of the shares subject to the Option.

    	 	 	11

     

    

(h)          
 $100,000 Per Year Limitation for Incentive Stock Options. To the extent that the aggregate Fair Market Value (determined
as of the Date of Grant) of shares of Common Stock for which Incentive Stock Options are exercisable for the first time by any Participant
during any calendar year (under all plans of the Company) exceeds $100,000, such excess Incentive Stock Options shall be treated as Nonqualified
Stock Options.

8.          
Stock Appreciation Rights (SARs).

(a)          
Generally. Each SAR shall entitle its recipient to payment reflecting appreciation in the value of the number of shares
of Common Stock subject to the SAR, on the terms and subject to the conditions set forth in the Plan and the Award Document. Any Option
granted under the Plan may include a tandem SAR. The Committee also may award SARs independent of any Option.

(b)          
Strike Price. The strike price (“Strike Price”) per share of Common Stock for each SAR (that is
not a Substitute Award) shall not be less than 100% of the Fair Market Value of such share, determined as of the Date of Grant; provided,
however, that a SAR granted in tandem with (or in substitution for) an Option previously granted shall have a Strike Price equal
to the Exercise Price of the corresponding Option. Any modification to the Strike Price of an outstanding SAR shall be subject to the
prohibition on repricing set forth in Section 13(b).

(c)          
Vesting and Expiration. A SAR granted in tandem with an Option shall vest and become exercisable and shall expire according
to the same vesting schedule and expiration provisions as the corresponding Option. A SAR granted independently of an Option shall vest
and become exercisable and shall expire in such manner and on such date or dates determined by the Committee and shall expire after such
period, not to exceed ten years, as may be determined by the Committee (the “SAR Period”); provided,
however, that notwithstanding any vesting or exercisability dates set by the Committee, the Committee may accelerate the vesting
and/or exercisability of any SAR, which acceleration shall not affect the terms and conditions of such SAR other than with respect to
vesting and/or exercisability. If the SAR Period would expire at a time when trading in the shares of Common Stock is prohibited by the
Company’s insider trading policy or a Company-imposed “blackout period,” the SAR Period shall be automatically extended
(other than with respect to SARs with a Strike Price as of the end of the SAR Period (prior to any such extension) that is not less than
the Fair Market Value of a share of Common Stock at such time) until the 30th day following the expiration of such prohibition (so long
as such extension shall not violate Section 409A of the Code). The Company is not responsible for providing to Participants any notice
or reminder of the impending expiration of their SARs, and doing so at any time or for any Participant does not obligate the Company to
do so at any other time or for any other Participant. The Committee may accelerate the vesting and/or exercisability of any SAR, which
acceleration shall not affect any other terms and conditions of such SAR, and without any obligation to accelerate the vesting and/or
exercisability of any other Award.

(d)          
Method of Exercise. If and to the extent that all conditions to exercise are satisfied, SARs may be exercised by delivery
of written or electronic notice of exercise to the Company or its designee (including a third-party administrator) in accordance with
the terms of the Award, specifying the number of SARs to be exercised and the date on which such SARs were awarded.

(e)          
Payment. Upon the exercise of a SAR, the Company shall pay to the holder thereof an amount equal to the number of shares
subject to the SAR that are being exercised multiplied by the excess, if any, of the Fair Market Value of one share of Common Stock on
the exercise date over the Strike Price, less the amount required to satisfy all associated tax obligations in accordance with Section
14(d). The Company shall pay such amount in cash, in shares of Common Stock valued at Fair Market Value as determined on the date of exercise,
or any combination thereof, as determined by the Committee. Any fractional shares of Common Stock shall be settled in cash.

    	 	 	12

     

    

9.          
 Restricted Stock and Restricted Stock Units.

(a)          
Generally. Each Restricted Stock and Restricted Stock Unit Award shall be subject to the conditions set forth in the Plan
(including Section 14(c) as relates to dividends and dividend equivalents) and the applicable Award Document. The Committee shall establish
restrictions applicable to Restricted Stock and Restricted Stock Units, including the period over which the restrictions shall apply (the
“Restricted Period”), and the time or times at which Restricted Stock or Restricted Stock Units shall become
vested (which, for the avoidance of doubt, may include service- and/or performance-based vesting conditions). To the extent permitted
in the Committee’s sole discretion, and subject to such rules, approvals, and conditions as the Committee may impose from time to
time, an Eligible Person who is a non-employee director may elect to receive all or a portion of such Eligible Person’s cash director
fees and other cash director compensation payable for director services provided to the Company by such Eligible Person in any fiscal
year, in whole or in part, in the form of Restricted Stock Units (which may be fully vested from the date of receipt). The Committee may
accelerate the vesting and/or the lapse of any or all of the restrictions on Restricted Stock and Restricted Stock Units which acceleration
shall not affect any other terms and conditions of such Awards. No share of Common Stock shall be issued at the time an Award of Restricted
Stock Units is made, and the Company will not be required to set aside a fund for the payment of any such Award.

(b)          
Stock Certificates; Escrow or Similar Arrangement. Upon the grant of Restricted Stock, the Committee shall cause share(s)
of Common Stock to be registered in the name of the Participant and held in book-entry form subject to the Company’s directions.
The Committee may in its discretion also cause a stock certificate registered in the name of the Participant to be issued. In such event,
the Committee may provide that such certificates shall be held by the Company or in escrow rather than delivered to the Participant pending
vesting and release of restrictions, in which case the Committee may require the Participant to execute and deliver to the Company or
its designee (including third-party administrators) (i) an escrow agreement satisfactory to the Committee, if applicable, and (ii) the
appropriate stock power (endorsed in blank) with respect to the Restricted Stock. If the Participant shall fail to execute and deliver
the escrow agreement and blank stock power within the amount of time specified by the Committee, the Award shall be null and void. Subject
to the restrictions set forth in this Section 9 and the Award Document, the Participant shall have the rights and privileges of a stockholder
as to such Restricted Stock, including without limitation the right to vote and, subject to Section 14(c), receive dividends with respect
to such Restricted Stock.

(c)          
Restrictions; Forfeiture. Restricted Stock and Restricted Stock Units awarded to the Participant and any dividends and/or
dividend equivalents accrued on the Common Stock underlying such Awards shall be subject to forfeiture until the expiration of the Restricted
Period and the attainment of any other vesting criteria established by the Committee, and shall be subject to the restrictions on transferability
set forth in the Award Document. In the event of any forfeiture, all rights of the Participant to such Restricted Stock (or as a stockholder
with respect thereto), and to such Restricted Stock Units, as applicable, including to any dividends and/or dividend equivalents that
may have been accumulated and withheld during the Restricted Period in respect thereof, shall terminate without further action or obligation
on the part of the Company. The Committee shall have the authority to remove any or all of the restrictions on the Restricted Stock and
Restricted Stock Units whenever it may determine that, by reason of changes in applicable laws or other changes in circumstances arising
after the Date of Grant of the Restricted Stock Award or Restricted Stock Unit Award, such action is appropriate.

(d)          
Delivery of Restricted Stock and Settlement of Restricted Stock Units.

(i)          Upon the expiration of the Restricted Period with respect to any shares of Restricted Stock and the attainment of any other vesting
criteria, the restrictions set forth in the applicable Award

    	 	 	13

     

    

Document shall be of no further force
or effect, except as set forth in the Award Document. If an escrow arrangement is used, upon such expiration the Company shall deliver
to the Participant or such Participant’s beneficiary (via book-entry notation or, if applicable, in stock certificate form) the
shares of Restricted Stock with respect to which the Restricted Period has expired (rounded down to the nearest full share). Dividends,
if any, that may have been withheld by the Committee and attributable to the Restricted Stock shall be distributed to the Participant
in cash or in shares of Common Stock having a Fair Market Value (on the date of distribution) (or a combination of cash and shares of
Common Stock) equal to the amount of such dividends, upon the release of restrictions on the Restricted Stock.

(ii)          
Unless otherwise provided by the Committee in an Award Document, upon the expiration of the Restricted Period and the attainment
of any other vesting criteria established by the Committee, with respect to any outstanding Restricted Stock Units, the Company shall
deliver to the Participant, or such Participant’s beneficiary (via book-entry notation or, if applicable, in stock certificate form),
one share of Common Stock (or other securities or other property, as applicable) for each such outstanding Restricted Stock Unit that
has not then been forfeited and with respect to which the Restricted Period has expired and any other such vesting criteria are attained
(“Released Unit”); provided, however, that the Committee may elect to (A) pay cash or part
cash and part Common Stock in lieu of delivering only shares of Common Stock in respect of such Released Units or (B) defer the delivery
of Common Stock (or cash or part Common Stock and part cash, as the case may be) beyond the expiration of the Restricted Period if such
extension would not cause adverse tax consequences under Section 409A of the Code. If a cash payment is made in lieu of delivering shares
of Common Stock, the amount of such payment shall be equal to the Fair Market Value of the Common Stock as of the date on which the shares
of Common Stock would have otherwise been delivered to the Participant in respect of such Restricted Stock Units.

(iii)          
To the extent provided in an Award Document, the holder of outstanding Restricted Stock Units shall be entitled to be credited
with dividend equivalent payments (upon the payment by the Company of dividends on shares of Common Stock) either in cash or, if determined
by the Committee, in shares of Common Stock having a Fair Market Value equal to the amount of such dividends as of the date of payment
(or a combination of cash and shares of Common Stock) (and interest may, if determined by the Committee, be credited on the amount of
cash dividend equivalents at a rate and subject to such terms as determined by the Committee), which accumulated dividend equivalents
(and interest thereon, if applicable) shall be payable at the same time as the underlying Restricted Stock Units are settled following
the release of restrictions on such Restricted Stock Units, and if such Restricted Stock Units are forfeited, the holder thereof shall
have no right to such dividend equivalent payments.

(e)          
Legends on Restricted Stock. Each certificate representing Restricted Stock awarded under the Plan, if any, shall bear a
legend substantially in the form of the following in addition to any other information the Company deems appropriate until the lapse of
all restrictions with respect to such Common Stock:

TRANSFER OF THIS
CERTIFICATE AND THE SHARES REPRESENTED HEREBY IS RESTRICTED PURSUANT TO THE TERMS OF THE HireRight
Holdings corporation 2021 OMNIBUS INCENTIVE PLAN AND A RESTRICTED STOCK AWARD DOCUMENT, DATED AS OF __________. A COPY OF SUCH
PLAN AND AWARD DOCUMENT IS ON FILE AT THE PRINCIPAL EXECUTIVE OFFICES OF Hireright Holdings corporation.

    	 	 	14

     

    

10.          
 Other Stock-Based Awards and Other Cash-Based Awards. The Committee may issue to Eligible Persons, alone or in tandem with
other Awards, in such amounts and on such terms as the Committee shall from time to time determine (i) unrestricted Common Stock, rights
to receive future grants of Awards, or other Awards denominated in Common Stock or other capital stock of the Company (including performance
shares or performance units), or Awards that provide for cash payments based in whole or in part on the value or future value of shares
of Common Stock (“Other Stock-Based Awards”) and (ii) Awards denominated and/or payable in cash, including cash
awarded as a bonus or upon the attainment of specific performance criteria or as otherwise permitted by the Plan or as contemplated by
the Committee (“Other Cash-Based Awards”). Each Other Stock-Based Award shall be evidenced by an Award Document,
which may include such conditions as the Committee may determine, including, without limitation, the payment by the Participant of the
Fair Market Value of such shares of Common Stock on the Date of Grant.

11.          
Changes in Capital Structure and Similar Events. In the event of (a) any dividend (other than regular cash dividends)
or other distribution (whether in the form of cash, shares of Common Stock, other securities or other property), recapitalization, stock
split, reverse stock split, reorganization, merger, amalgamation, consolidation, split-up, split-off, spin-off, combination, repurchase
or exchange of shares of Common Stock or other securities of the Company, issuance of warrants or other rights to acquire shares of Common
Stock or other securities of the Company, or other similar corporate transaction or event (including, without limitation, a Change in
Control) that affects the shares of Common Stock, or (b) unusual or nonrecurring events (including, without limitation, a Change
in Control) affecting the Company, any Subsidiary or any Affiliate controlled by the Company, or the financial statements of the Company,
any Subsidiary or any Affiliate controlled by the Company, or changes in applicable rules, rulings, regulations or other requirements
of any governmental body, the Exchange, accounting principles or law, then the Committee shall (except as otherwise provided in any Award
Document or employment, change-in-control, severance or other agreement in effect with the Participant) make such equitable and proportionate
adjustments in such manner as it may deem appropriate in the reasonable exercise of its discretion and consistent with its fiduciary duties,
including without limitation any or all of the following:

(i)          
adjusting any or all of (A) the number of shares of Common Stock or other securities of the Company (or number and kind of
other securities or other property) that may be delivered in respect of Awards or with respect to which Awards may be granted under the
Plan (including, without limitation, adjusting any or all of the limitations under Section 5 of the Plan) and (B) the terms of any
outstanding Award, including, without limitation, (1) the number of shares of Common Stock or other securities of the Company (or
number and kind of other securities or other property) subject to outstanding Awards or to which outstanding Awards relate, (2) the
Exercise Price or Strike Price with respect to any Award and/or (3) any applicable performance measures (including, without limitation,
Performance Conditions and performance periods);

(ii)          
providing for a substitution or assumption of Awards (or awards of an acquiring company), accelerating the delivery, vesting and/or
exercisability of, lapse of restrictions and/or other conditions on, or termination of, Awards or providing for a period of time (which
shall not be required to be more than (10) days) for the Participants to exercise outstanding Awards prior to the occurrence of such event
(and any such Award not so exercised shall terminate or become no longer exercisable upon the occurrence of such event); and

(iii)          
cancelling any one or more outstanding Awards (or awards of an acquiring company) and causing to be paid to the holders thereof,
in cash, shares of Common Stock, other securities or other property, or any combination thereof, the value of such Awards, if any, as
determined by the Committee (which if applicable shall be based upon the price per share of Common Stock or value of other consideration
received or to be received by other stockholders of

    	 	 	15

     

    

the Company in such event), including
without limitation, in the case of an outstanding Option or SAR, a cash payment in an amount equal to the excess, if any, of the Fair
Market Value (as of a date specified by the Committee) of the shares of Common Stock subject to such Option or SAR over the aggregate
Exercise Price or Strike Price of such Option or SAR, respectively (it being understood that, in such event, any Option or SAR having
a per-share Exercise Price or Strike Price equal to, or in excess of, the Fair Market Value (as of the date specified by the Committee)
of a share of Common Stock subject thereto may be canceled and terminated without any payment or consideration therefor);

provided, however,
that the Committee shall make an equitable and proportionate adjustment to outstanding Awards to reflect any “equity restructuring”
(within the meaning of the Financial Accounting Standards Codification Topic 718 (or any successor pronouncement thereto)). Except as
otherwise determined by the Committee, any adjustment in Incentive Stock Options under this Section 11 (other than any cancellation of
Incentive Stock Options) shall be made only to the extent not constituting a “modification” within the meaning of Section
424(h)(3) of the Code, and any adjustments under this Section 11 shall be made in a manner that does not adversely affect the exemption
provided pursuant to Rule 16b-3 promulgated under the Exchange Act. The Company shall give each Participant notice of an adjustment hereunder
and, upon notice, such adjustment shall be conclusive and binding for all purposes. In anticipation of the occurrence of any event listed
in the first sentence of this Section 11, for reasons of administrative convenience, the Committee in its sole discretion may refuse to
permit the exercise of any Award during a period of up to 30 days prior to, and/or up to 30 days after, the anticipated occurrence of
any such event.

12.          
Effect of Termination of Service or a Change in Control on Awards. 

(a)          
Termination. To the extent permitted under Section 409A of the Code, the Committee may provide, by rule or regulation or
in any applicable Award Document or other agreement with a Participant, or may determine in any individual case, the circumstances in
which, and to the extent to which, an Award may be exercised, settled, vested, paid or forfeited in the event of the Participant’s
termination of service prior to the end of a performance period or vesting, exercise or settlement of such Award. Except as otherwise
provided in the applicable Award Document, or other agreement between the Participant and the Company, such portion of an Award that has
not vested or with respect to which other conditions have not been satisfied, will be forfeited upon termination of the Participant’s
service to the Company and its Subsidiaries.

(b)          
Change in Control. In the event of a Change in Control, notwithstanding any provision of the Plan to the contrary, the Committee
may provide for: (i) continuation or assumption of such outstanding Awards under the Plan by the Company (if it is the surviving corporation)
or by the surviving corporation or its parent; (ii) substitution by the surviving corporation or its parent of awards with substantially
the same terms and value for such outstanding Awards (in the case of an Option or SAR, the Intrinsic Value at grant of such Substitute
Award shall equal the Intrinsic Value of the Award based upon the value of the Common Stock in the Change in Control); (iii) acceleration
of the vesting (including the lapse of any restrictions, with any applicable Performance Conditions or other performance criteria deemed
met at target) or right to exercise such outstanding Awards immediately prior to or as of the date of the Change in Control, and the expiration
of such outstanding Awards to the extent not timely exercised by the date of the Change in Control or other date thereafter designated
by the Committee; or (iv) in the case of an Option or SAR, cancelation in consideration of a payment in cash or other consideration to
the Participant who holds such Award in an amount equal to the Intrinsic Value of such Award (which may be equal to but not less than
zero), which, if in excess of zero, shall be payable upon the effective date of such Change in Control. For the avoidance of doubt, in
the event of a Change in Control, the Committee may, in its sole discretion, terminate any Options and/or SARs for which the Exercise
Price or Strike Price is equal to or exceeds the

    	 	 	16

     

    

per share value of the consideration to be
paid in the Change in Control transaction without payment of consideration therefor.

13.          
Amendments and Termination.

(a)          
Amendment and Termination of the Plan. The Board may amend, alter, suspend, discontinue, or terminate the Plan or any portion
thereof at any time; provided, that no such amendment, alteration, suspension, discontinuation or termination shall be made without
stockholder approval if such approval is necessary to comply with any tax or regulatory requirement applicable to the Plan (including,
without limitation, as necessary to comply with any applicable rules or requirements of the Exchange, or GAAP accounting standards); provided,
further, that any such amendment, alteration, suspension, discontinuance or termination that would materially and adversely affect
the rights of any Participant or any holder or beneficiary of any Award theretofore granted shall not to that extent be effective without
the consent of the affected Participant, holder or beneficiary, unless the Committee determines that such amendment, alteration, suspension,
discontinuance or termination is either required or advisable in order for the Company, the Plan or the Award to satisfy any applicable
law or regulation. Notwithstanding the foregoing, no amendment shall be made to the last proviso of Section 13(b) without stockholder
approval.

(b)          
Amendment of Award Documents. The Committee may, to the extent not inconsistent with the terms of any applicable Award Document
or the Plan, waive any conditions or rights under, amend any terms of, or alter, suspend, discontinue, cancel or terminate, any Award
theretofore granted or the associated Award Document, prospectively or retroactively (including after the Participant’s termination
of employment or service with the Company); provided, that any such waiver, amendment, alteration, suspension, discontinuance,
cancellation or termination that would materially and adversely affect the rights of any Participant, holder or beneficiary with respect
to any Award theretofore granted shall not to that extent be effective without the consent of the affected Participant, holder or beneficiary
unless the Committee determines that such waiver, amendment, alteration, suspension, discontinuance, cancellation or termination is either
required or advisable in order for the Company, the Plan or the Award to satisfy any applicable law or regulation; provided, further,
that except as otherwise permitted under Section 11 of the Plan, if (i) the Committee reduces the Exercise Price of any Option or
the Strike Price of any SAR, (ii) the Committee cancels any outstanding Option or SAR and replaces it with a new Option or SAR (with
a lower Exercise Price or Strike Price, as the case may be) or other Award or cash in a manner that would either (A) be reportable
on the Company’s proxy statement or Form 10-K (if applicable) as Options that have been “repriced” (as such term is
used in Item 402 of Regulation S-K promulgated under the Exchange Act), or (B) result in any “repricing” for financial
statement reporting purposes (or otherwise cause the Award to fail to qualify for equity accounting treatment), (iii) the Committee
takes any other action that is considered a “repricing” for purposes of the stockholder approval rules of the Exchange, or
(iv) the Committee cancels any outstanding Option or SAR that has a per-share Exercise Price or Strike Price (as applicable) at or
above the Fair Market Value of a share of Common Stock on the date of cancellation, and pays any consideration to the holder thereof,
whether in cash, securities, or other property, or any combination thereof, then, in the case of the immediately preceding clauses (i)
through (iv), any such action shall not be effective without stockholder approval.

14.          
General.

(a)          
Award Documents; Other Agreements. Each Award under the Plan shall be evidenced by an Award Document, which shall be delivered
to the Participant and shall specify the terms and conditions of the Award and any rules applicable thereto. If an Award Document takes
the form of an agreement between the Company and the Participant receiving the Award, the Participant must execute and deliver such agreement
to the Company in the form specified and by the deadline specified by the Company or the Award will be void. In the event of any conflict
between the terms of the Plan and any Award Document

    	 	 	17

     

    

or employment, change-in-control, severance
or other agreement in effect with the Participant, the terms of the Plan shall control.

(b)          
Nontransferability.

(i)          
Each Award shall be exercisable only by the Participant during the Participant’s lifetime, or, if permissible under applicable
law, by the Participant’s legal guardian or representative. No Award may be assigned, alienated, pledged, attached, sold or otherwise
transferred or encumbered by the Participant other than by will or by the laws of descent and distribution, and any such purported assignment,
alienation, pledge, attachment, sale, transfer or encumbrance shall be void and unenforceable against the Company or an Affiliate; provided,
that the designation of a beneficiary shall not constitute an assignment, alienation, pledge, attachment, sale, transfer or encumbrance.

(ii)          Notwithstanding
the foregoing, the Committee may permit Awards (other than Incentive Stock Options) to be transferred by the Participant, without consideration,
subject to such rules as the Committee may adopt, to (A) any person who is a “family member” of the Participant, as
such term is used in the instructions to Form S-8 under the Securities Act or any successor form of registration statements promulgated
by the Securities and Exchange Commission (collectively, the “Immediate Family Members”); (B) a trust
solely for the benefit of the Participant or the Participant’s Immediate Family Members; (C) a partnership or limited liability
company whose only partners or stockholders are the Participant and the Participant’s Immediate Family Members; or (D) any
other transferee as may be approved either (1) by the Board or the Committee, or (2) as provided in the applicable Award Document
(each transferee described in clause (A), (B), (C) or (D) above is hereinafter referred to as a “Permitted Transferee”);
provided, that the Participant gives the Committee advance written notice describing the terms and conditions of the proposed transfer
and the Committee notifies the Participant in writing that such a transfer would comply with the requirements of the Plan.

(iii)         The
terms of any Award transferred in accordance with the immediately preceding paragraph shall apply to the Permitted Transferee, and any
reference in the Plan, or in any applicable Award Document, to the Participant shall be deemed to refer to the Permitted Transferee,
except that (A) Permitted Transferees shall not be entitled to transfer any Award, other than by will or the laws of descent and
distribution; (B) Permitted Transferees shall not be entitled to exercise any transferred Option unless there shall be in effect
a registration statement on an appropriate form covering the shares of Common Stock to be acquired pursuant to the exercise of such Option
if the Committee determines, consistent with any applicable Award Document, that such a registration statement is necessary or appropriate;
(C) the Committee or the Company shall not be required to provide any notice to a Permitted Transferee, whether or not such notice
is or would otherwise have been required to be given to the Participant under the Plan or otherwise; (D) the consequences of the
termination of the Participant’s employment by, or services to, the Company or an Affiliate under the terms of the Plan and the
applicable Award Document shall continue to be applied with respect to the transferred Award, including, without limitation, that an
Option shall be exercisable by the Permitted Transferee only to the extent, and for the periods, specified in the Plan and the applicable
Award Document; and (E) any non-competition, non-solicitation, non-disparagement, non-disclosure, or other restrictive covenants contained
in any Award Document or other agreement between the Participant and the Company or any Affiliate shall continue to apply to the Participant
and the consequences of the violation of such covenants shall continue to be applied with respect to the transferred Award, including
without limitation the clawback and forfeiture provisions of Section 14(t) of the Plan.

    	 	 	18

     

    

(c)          Dividends
and Dividend Equivalents. The Committee may provide the Participant with dividends or dividend equivalents as part of an Award, payable
in cash, shares of Common Stock, other securities, other Awards or other property, on such terms and conditions as may be determined
by the Committee, including, without limitation, payment directly to the Participant, withholding of such amounts by the Company subject
to vesting of the Award or reinvestment in additional shares of Common Stock, Restricted Stock or other Awards; provided, that
no dividends or dividend equivalents shall be payable (i) in respect of outstanding Options or SARs or (ii) in respect of any other
Award unless and until the Participant vests in such underlying Award; provided, further, that dividend equivalents may
be accumulated in respect of unearned Awards and paid as soon as administratively practicable, but no more than 60 days, after such Awards
are earned and become payable or distributable (and the right to any such accumulated dividends or dividend equivalents shall be forfeited
upon the forfeiture of the Award to which such dividends or dividend equivalents relate).

(d)          
Tax Obligations.

(i)          
As a condition to the exercise or payment of any Award, the Participant shall be required to pay in full, and to reimburse the
Company or any Affiliate in full for payment on behalf of the Participant of, any and all associated U.S. federal, state and local income
and employment taxes and non-U.S. income and employment taxes, social contributions and any other tax-related items required to be paid
and/or withheld. The Company or any Affiliate shall have the right (but not the obligation) and is hereby authorized to withhold, from
any cash, shares of Common Stock, other securities or other property deliverable under any Award or from any compensation or other amounts
owing to the Participant, any or all of the amount of any required withholding taxes and/or required tax deposits (up to the maximum permissible
withholding amounts) in respect of an Award, its exercise, or any payment or transfer under an Award or under the Plan and to take such
other action that the Committee or the Company deem necessary to satisfy all obligations for the payment of such tax obligations.

(ii)         
Without limiting the generality of paragraph (i) above, the Committee may (but is not obligated to) permit any Participant
to satisfy, in whole or in part, the foregoing reimbursement liability by (A) payment in cash, (B) the delivery of shares of
Common Stock (which shares are not subject to any pledge or other security interest) owned by the Participant having a Fair Market Value
on the date of delivery equal to such withholding liability or (C) having the Company withhold from the number of shares of Common
Stock otherwise issuable or deliverable pursuant to the exercise or settlement of the Award a number of shares with a Fair Market Value
on the date of exercise or settlement equal to such liability. In addition, subject to any requirements of applicable law, the Participant
may also satisfy the tax obligations by other methods, including selling shares of Common Stock that would otherwise be available for
delivery, provided that the Board or the Committee has specifically approved such payment method in advance.

(e)          
No Claim to Awards; No Rights to Continued Employment, Directorship or Engagement. No employee, director of the Company,
consultant providing service to the Company or an Affiliate, or other person, shall have any claim or right to be granted an Award under
the Plan or, having been selected for the grant of an Award, to be selected for a grant of any other Award. There is no obligation for
uniformity of treatment of different Participants or holders or beneficiaries of Awards, or of the same Participant or holder or beneficiary
under different circumstances or at different times. The terms and conditions of Awards and the Committee’s determinations and interpretations
with respect thereto need not be the same with respect to each Participant and may be made selectively among the Participants, whether
or not such Participants are similarly situated. Neither the Plan nor any action taken hereunder shall be construed as giving any Participant
any right to (i) be retained or continue in the employ or service

    	 	 	19

     

    

(including Board service) of the Company or
an Affiliate or (ii) acceleration or payment, as a result of cessation of employment or service, of Awards for which vesting or other
conditions have not been satisfied.

(f)          
International Participants. With respect to the Participants who reside or work outside of the United States, the Committee
may amend, adapt, or supplement the terms of the Plan, or outstanding Awards, with respect to such Participants, in order to conform such
terms with or accommodate the requirements of local laws, procedures or practices or to obtain more favorable tax or other treatment for
the Participant, the Company or its Affiliates. Without limiting the generality of this subsection, the Committee is specifically authorized
to adopt rules, procedures and sub-plans with provisions that limit or modify rights on death, disability, retirement or other terminations
of employment, available methods of exercise or settlement of an Award, payment of income, social insurance contributions or payroll taxes,
withholding procedures and handling of any stock certificates or other indicia of ownership that vary with local requirements. The Committee
may also adopt rules, procedures or sub-plans applicable to particular Affiliates or locations.

(g)          
Beneficiary Designation. The Participant’s beneficiary shall be the Participant’s spouse (or domestic partner
if such status is recognized by the Company and in such jurisdiction), or if the Participant is otherwise unmarried at the time of death,
the Participant’s estate, except to the extent that a different beneficiary is designated in accordance with procedures that may
be established by the Committee from time to time for such purpose. Notwithstanding the foregoing, in the absence of a beneficiary validly
designated under such Committee-established procedures and/or applicable law who is living (or in existence) at the time of death of a
Participant residing or working outside the United States, any required distribution under the Plan shall be made to the executor or administrator
of the estate of the Participant, or to such other individual as may be prescribed by applicable law.

(h)          
Termination of Employment or Service. The Committee, in its sole discretion, shall determine the effect of all matters and
questions related to the termination of employment of or service of a Participant. Except as otherwise provided in an Award Document,
or any employment, consulting, change-in-control, severance or other agreement between the Participant and the Company or an Affiliate,
unless determined otherwise by the Committee: (i) neither a temporary absence from employment or service due to illness, vacation
or leave of absence (including, without limitation, a call to active duty for military service through a Reserve or National Guard unit)
nor a transfer from employment or service with the Company to employment or service with an Affiliate (or vice versa) shall be considered
a termination of employment or service with the Company or an Affiliate; and (ii) if the Participant’s employment with the
Company or its Affiliates terminates, but such Participant continues to provide services with the Company or its Affiliates in a non-employee
capacity (including as a non-employee director) (or vice versa), such change in status shall not be considered a termination of employment
or service with the Company or an Affiliate for purposes of the Plan.

(i)          
No Rights as a Stockholder. Except as otherwise specifically provided in the Plan or any Award Document, no person shall
be entitled to the privileges of ownership in respect of shares of Common Stock that are subject to Awards hereunder until all requirements
and conditions applicable to the issuance of such shares have been satisfied and the issuance of such shares has been entered into the
books and records of the Company.

(j)          
Government and Other Regulations.

(i)          
Nothing in the Plan shall be deemed to authorize the Committee or Board or any members thereof to take any action contrary to applicable
law or regulation, or rules of the Exchange.

    	 	 	20

     

    

(ii)          
 The obligation of the Company to settle Awards in Common Stock or other consideration shall be subject to all applicable laws,
rules, and regulations, and to such approvals by governmental agencies as may be required. Notwithstanding any terms or conditions of
any Award to the contrary, the Company shall be under no obligation to offer to sell or to sell, and shall be prohibited from offering
to sell or selling, any shares of Common Stock pursuant to an Award unless such shares have been properly registered for sale pursuant
to the Securities Act with the Securities and Exchange Commission or unless such shares may be offered or sold without such registration
pursuant to and in compliance with the terms of an available exemption. The Company shall be under no obligation to register for sale
under the Securities Act any of the shares of Common Stock to be offered or sold under the Plan. The Committee shall have the authority
to provide that all shares of Common Stock or other securities of the Company or any Affiliate delivered under the Plan shall be subject
to such stop-transfer orders and other restrictions as the Committee may deem advisable under the Plan, the applicable Award Document,
U.S. federal securities laws, or the rules, regulations and other requirements of the U.S. Securities and Exchange Commission, the Exchange,
and any other applicable federal, state, local or non-U.S. laws, rules, regulations and other requirements, and, without limiting the
generality of Section 9 of the Plan, the Committee may cause a legend or legends to be put on any such certificates of Common Stock or
other securities of the Company or any Affiliate delivered under the Plan to make appropriate reference to such restrictions or may cause
such Common Stock or other securities of the Company or any Affiliate delivered under the Plan in book-entry form to be held subject to
the Company’s instructions or subject to appropriate stop-transfer orders. Notwithstanding any provision in the Plan to the contrary,
the Committee reserves the right to add any additional terms or provisions to any Award granted under the Plan that it in its sole discretion
deems necessary or advisable in order that such Award complies with the legal requirements of any governmental entity to whose jurisdiction
the Award is subject.

(iii)          
 The Company may require a Participant, as a condition of exercising or acquiring Common Stock under any Award, (A) to give written
assurances satisfactory to the Company as to the Participant’s knowledge and experience in financial and business matters and/or
to employ a purchaser representative reasonably satisfactory to the Company who is knowledgeable and experienced in financial and business
matters and that he or she is capable of evaluating, alone or together with the purchaser representative, the merits and risks of accepting
and exercising the Award and acquiring Common Stock pursuant to the Award and (B) to give written assurances satisfactory to the Company
stating that the Participant is acquiring Common Stock subject to the Award for the Participant’s own account and not with any present
intention of selling or otherwise distributing the Common Stock. The foregoing requirements, and any assurances given pursuant to such
requirements, will be inoperative if (x) the issuance of the shares upon the exercise of an Award or acquisition of Common Stock under
the Award has been registered under a then currently effective registration statement under the Securities Act, or (y) as to any particular
requirement, a determination is made by counsel for the Company that such requirement need not be met in the circumstances under the then
applicable securities laws. The Company may, upon advice of counsel to the Company, place legends on stock certificates or the Company’s
books as such counsel deems necessary or appropriate in order to comply with applicable securities laws, including, but not limited to,
legends restricting the transfer of the Common Stock.

(iv)          The
Committee may cancel an Award or any portion thereof if it determines that legal or contractual restrictions and/or block trading and/or
other market considerations would make the Company’s acquisition of shares of Common Stock from the public markets, the Company’s
issuance of Common Stock to the Participant, the Participant’s acquisition of Common Stock from the Company and/or the Participant’s
sale of Common Stock to the public markets illegal, impracticable or inadvisable. If the Committee determines to cancel all or any portion
of

    	 	 	21

     

    

an Award in accordance with the foregoing,
unless prevented by applicable laws, the Company shall pay to the Participant an amount equal to the excess (if any) of (A) the aggregate
Fair Market Value of the shares of Common Stock subject to such Award or portion thereof canceled (determined as of the applicable exercise
date, or the date that the shares would have been vested or delivered, as applicable), over (B) the aggregate Exercise Price or Strike
Price (in the case of an Option or SAR, respectively) or any amount payable as a condition of delivery of shares of Common Stock (in the
case of any other Award). Such amount shall be delivered to the Participant as soon as practicable following the cancellation of such
Award or portion thereof.

(k)          
Payments to Persons Other Than the Participants. If the Committee shall find that any person to whom any amount is payable
under the Plan is unable to care for such person’s affairs because of illness or accident, or is a minor, or has died, then any
payment due to such person or such person’s estate (unless a prior claim therefor has been made by a duly appointed legal representative
or a beneficiary designation form has been filed with the Company) may, if the Committee so directs the Company, be paid to such person’s
spouse, child, or relative, or an institution maintaining or having custody of such person, or any other person deemed by the Committee
to be a proper recipient on behalf of such person otherwise entitled to payment. Any such payment shall be a complete discharge of the
liability of the Committee and the Company therefor.

(l)          
Nonexclusivity of the Plan. Neither the adoption of the Plan by the Board nor the submission of the Plan to the stockholders
of the Company for approval shall be construed as creating any limitations on the power of the Board to adopt such other incentive arrangements
as it may deem desirable, including, without limitation, the granting of stock options or awards otherwise than under the Plan, and such
arrangements may be either applicable generally or only in specific cases.

(m)          
No Trust or Fund Created. Neither the Plan nor any Award shall create or be construed to create a trust or separate fund
of any kind or a fiduciary relationship between the Company or any Affiliate, on the one hand, and the Participant or other person or
entity, on the other hand. No provision of the Plan or any Award shall require the Company, for the purpose of satisfying any obligations
under the Plan, to purchase assets or place any assets in a trust or other entity to which contributions are made or to otherwise segregate
any assets, nor shall the Company maintain separate bank accounts, books, records or other evidence of the existence of a segregated or
separately maintained or administered fund for such purposes. The Participants shall have no rights under the Plan other than as unsecured
general creditors of the Company.

(n)          
Reliance on Reports. Each member of the Committee and each member of the Board (and each such member’s respective
designees) shall be fully justified in acting or failing to act, as the case may be, and shall not be liable for having so acted or failed
to act in good faith, in reliance upon advice of counsel or any report made by the independent registered public accounting firm of the
Company and its Affiliates and/or any other information furnished in connection with the Plan by any agent of the Company or the Committee
or the Board, other than such member or designee.

(o)          
Relationship to Other Benefits. No payment under the Plan shall be taken into account in determining any benefits under
any pension, retirement, profit sharing, group insurance or other benefit plan of the Company except as otherwise specifically provided
in such other plan.

(p)          
Governing Law. The Plan shall be governed by and construed in accordance with the laws of the State of Delaware, without
regard to principles of conflicts of laws thereof, or principles of conflicts of laws of any other jurisdiction that could cause the application
of the laws of any jurisdiction other than the State of Delaware.

    	 	 	22

     

    

(q)          
 Severability. If any provision of the Plan or any Award or Award Document is or becomes or is deemed to be invalid, illegal,
or unenforceable in any jurisdiction or as to any person or entity or Award, or would disqualify the Plan or any Award under any law deemed
applicable by the Committee, such provision shall be construed or deemed amended to conform to the applicable laws, or if it cannot be
construed or deemed amended without, in the determination of the Committee, materially altering the intent of the Plan or the Award, such
provision shall be construed or deemed stricken as to such jurisdiction, person or entity or Award, and the remainder of the Plan and
any such Award shall remain in full force and effect.

(r)          
Obligations Binding on Successors. The obligations of the Company under the Plan shall be binding upon any successor corporation
or organization resulting from the merger, consolidation or other reorganization of the Company, or upon any successor corporation or
organization succeeding to all or substantially all of the assets and business of the Company.

(s)          
Section 409A of the Code.

(i)          
It is intended that the Plan comply with Section 409A of the Code, and all provisions of the Plan shall be construed and interpreted
in a manner consistent with the requirements for avoiding taxes or penalties under Section 409A of the Code. Each Participant is solely
responsible and liable for the satisfaction of all taxes and penalties that may be imposed on or in respect of such Participant in connection
with the Plan or any other plan maintained by the Company, including any taxes and penalties under Section 409A of the Code, and neither
the Company nor any Affiliate shall have any obligation to indemnify or otherwise hold such Participant or any beneficiary harmless from
any or all of such taxes or penalties. With respect to any Award that is considered “deferred compensation” subject to Section
409A of the Code, references in the Plan to “termination of employment” (and substantially similar phrases) shall mean “separation
from service” within the meaning of Section 409A of the Code. For purposes of Section 409A of the Code, each of the payments that
may be made in respect of any Award granted under the Plan is designated as a separate payment.

(ii)          
Notwithstanding anything in the Plan to the contrary, if the Participant is a “specified employee” within the meaning
of Section 409A(a)(2)(B)(i) of the Code, no payments or deliveries in respect of any Awards that are “deferred compensation”
subject to Section 409A of the Code shall be made to such Participant prior to the date that is six months after the date of such Participant’s
“separation from service” within the meaning of Section 409A of the Code or, if earlier, the Participant’s date of death,
unless such delivery or payment may be made in a manner that complies with Section 409A of the Code. All such delayed payments or deliveries
will be paid or delivered (without interest) in a single lump sum on the earliest date permitted under Section 409A of the Code that is
also a business day.

(iii)          
In the event that the timing of payments in respect of any Award that would otherwise be considered “deferred compensation”
subject to Section 409A of the Code would be accelerated upon the occurrence of (A) a Change in Control, no such acceleration shall
be permitted unless the event giving rise to the Change in Control satisfies the definition of a change in the ownership or effective
control of a corporation, or a change in the ownership of a substantial portion of the assets of a corporation pursuant to Section 409A
of the Code and any Treasury Regulations promulgated thereunder or (B) a Disability, no such acceleration shall be permitted unless
the Disability also satisfies the definition of “disability” pursuant to Section 409A of the Code and any Treasury Regulations
promulgated thereunder.

    	 	 	23

     

    

(t)          
 Clawback/Forfeiture. Notwithstanding anything to the contrary contained herein, the Committee may cancel an Award if the
Participant, without the consent of the Company, (A) has engaged in or engages in activity that is in conflict with or adverse to
the interests of the Company or any Affiliate while employed by or providing services to the Company or any Affiliate, including fraud
or conduct intentionally contributing to any material financial restatements or irregularities or (B) violates in any material respect
a non-competition, non-solicitation, non-disparagement or non-disclosure covenant or agreement with the Company or any Affiliate, as determined
by the Committee, and fails to cure such violation in all material respects within 30 days of demand by the Company, or if the Participant’s
employment or service is terminated for Cause. The Committee may also provide in an Award Document that in any such event the Participant
will forfeit any compensation, gain or other value realized thereafter on the vesting, exercise or settlement of such Award, the sale
or other transfer of such Award, or the sale of shares of Common Stock acquired in respect of such Award, and must promptly repay such
amounts to the Company. Unless otherwise provided in an Award Document or otherwise determined by the Committee, if the Participant receives
any amount in excess of what the Participant should have received under the terms of the Award for any reason (including without limitation
by reason of a financial restatement, mistake in calculations or other administrative error), all as determined by the Committee, then
the Participant shall be required to promptly repay any such excess amount to the Company. In addition, the Company shall retain the right
to bring an action at equity or law to enjoin the Participant’s activity and recover damages resulting from such activity. Further,
to the extent required by applicable law (including, without limitation, Section 304 of the Sarbanes-Oxley Act and Section 954 of the
Dodd-Frank Wall Street Reform and Consumer Protection Act) and/or the rules and regulations of the Exchange, or if so required pursuant
to a written policy adopted by the Company, Awards shall be subject (including on a retroactive basis) to clawback, forfeiture or similar
requirements (and such requirements shall be deemed incorporated by reference into all outstanding Award Documents). In exercising its
discretion regarding clawbacks and forfeitures, the Committee shall not seek recovery to the extent it determines that to do so would
be unreasonable or not in the Company’s interests. In making such determination, and without limiting the scope of its discretion,
the Committee shall take into account such considerations as it deems appropriate, including, without limitation, (A) the likelihood of
success under governing law versus the cost and effort involved, (B) whether the assertion of a claim may prejudice the interests of the
Company, including in any related proceeding or investigation, (C) the passage of time since the occurrence of the act in respect of the
applicable fraud or intentional illegal conduct, and (D) any pending legal proceeding relating to the applicable fraud or misconduct.

(u)          
No Representations, Covenants, or Advice. Although the Company may endeavor to (i) qualify an Award for favorable U.S.
or non-U.S. tax treatment or (ii) avoid adverse tax treatment, the Company makes no representation to that effect and expressly disavows
any covenant to maintain favorable or avoid unfavorable tax treatment. The Company shall be unconstrained in its corporate activities
without regard to the potential negative tax impact on holders of Awards under the Plan. The Company will have no duty or obligation to
advise any Participant as to the time, manner, or legal or tax consequences of exercising any Award and/or dealing with any underlying
Common Stock. Internal and external counsel to the Company have no duty or obligation to provide, and do not provide, any legal advice
to any Participant. The Company and its personnel make no representations or promises to any Participant about the value of any Award
or underlying Common Stock.

(v)          
No Interference. The existence of the Plan, any Award Document, and the Awards granted hereunder shall not affect or restrict
in any way the right or power of the Company, the Board, the Committee, or the stockholders of the Company to make or authorize any adjustment,
recapitalization, reorganization, or other change in the Company’s capital structure or its business, any merger or consolidation
of the Company, any issue of stock or of options, warrants, or rights to purchase stock or of bonds, debentures, or preferred or prior
preference stocks whose rights are superior to or affect the Common Stock or the rights thereof or that are convertible into or exchangeable
for Common Stock, or the dissolution

    	 	 	24

     

    

or liquidation of the Company or any Affiliate,
or any sale or transfer of all or any part of their assets or business, or any other corporate act or proceeding, whether of a similar
character or otherwise.

(w)          
Expenses; Titles and Headings. The expenses of administering the Plan shall be borne by the Company and its Affiliates.
The titles and headings of the sections in the Plan are for convenience of reference only, and in the event of any conflict, the text
of the Plan, rather than such titles or headings shall control.

(x)          
Whistleblower Acknowledgments. Notwithstanding anything to the contrary herein, nothing in this Plan or any Award Document
will (i) prohibit a Participant from making reports of possible violations of federal law or regulation to any governmental agency or
entity in accordance with the provisions of and rules promulgated under Section 21F of the Exchange Act or Section 806 of the Sarbanes-Oxley
Act of 2002, or of any other whistleblower protection provisions of federal law or regulation, or (ii) require prior approval by the Company
or any of its Affiliates of any reporting described in clause (i).

* * *

As adopted by the Board of Directors of the Company on August 12,
2021.

As approved by the stockholders of the Company on
October 18, 2021.

 

 

 

    	 	 	25

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