Document:

Common Stock Purchase Warrant of the Company, dated as of November 24, 2009

 Exhibit 4.1 
  
  
  
 COMMON STOCK PURCHASE WARRANT

 Dated as of November 24, 2009 
 for 4,156,863 Shares of Common Stock of 
 JohnsonDiversey Holdings, Inc.

  
  
  

 TABLE OF CONTENTS 
  

							
	 	 	 	  	Page
	 1.
	 	 Exercise of Warrant
	  	2
		 	 1.1.
	  	Exercise Period	  	2
		 	 1.2.
	  	Manner of Exercise	  	4
		 	 1.3.
	  	When Exercise Deemed Effected	  	5
		 	 1.4.
	  	Delivery of Stock Certificates, etc.	  	5
		 	 1.5.
	  	Payment of Taxes and Expenses	  	5
			
	 2.
	 	 Adjustment of Common Stock Issuable upon Exercise
	  	5
		 	 2.1.
	  	Number of Shares; Warrant Price	  	5
		 	 2.2.
	  	Stock Dividends, Subdivisions and Combinations	  	6
		 	 2.3.
	  	Dividends and Distributions	  	6
		 	 2.4.
	  	Consolidation, Merger, Sale of Assets, Reorganization, etc.	  	7
		 	 2.5.
	  	Other Provisions Applicable to Adjustments under this Section 2	  	7
			
	 3.
	 	 Notice of Adjustment
	  	9
			
	 4.
	 	 Notices of Corporate Action
	  	9
			
	 5.
	 	 Restrictions on Transfer
	  	10
		 	 5.1.
	  	Certain Restrictions	  	10
		 	 5.2.
	  	Drag-Along Rights	  	12
		 	 5.3.
	  	Registration; Restrictions on Sale upon Public Offering	  	13
		 	 5.4.
	  	Termination of Restrictions	  	14
			
	 6.
	 	 Call Option
	  	14
		 	 6.1.
	  	Exercise of Call Option	  	14
		 	 6.2.
	  	Determination of Call Price	  	14
		 	 6.3.
	  	Call Closing	  	15
		 	 6.4.
	  	Call Option Termination	  	16
			
	 7.
	 	 Preemptive Rights Warrant
	  	16
		 	 7.1.
	  	Preemptive Rights Warrant	  	16
		 	 7.2.
	  	Issuance Notice	  	16
		 	 7.3.
	  	Election	  	16
		 	 7.4.
	  	Issuance of New Securities	  	17
			
	 8.
	 	 Tag-Along Rights
	  	17
			
	 9.
	 	 Registration Rights Agreement
	  	18
		 	 9.1.
	  	Registration Rights Agreement	  	18
		 	 9.2.
	  	Public Offering	  	18
			
	 10.
	 	 Availability of Information
	  	18

  

 -i- 

 TABLE OF CONTENTS 
 (continued) 

							
	 	 	 	  	Page
	 11.
	 	 Reservation of Stock, etc.
	  	18
			
	 12.
	 	 Ownership, Transfer and Substitution of the Warrant
	  	19
		 	 12.1.
	  	Ownership of Warrant	  	19
		 	 12.2.
	  	Transfer and Exchange of the Warrant	  	19
		 	 12.3.
	  	Division and Combination of the Warrant	  	19
		 	 12.4.
	  	Replacement of the Warrant	  	19
			
	 13.
	 	 Definitions
	  	19
			
	 14.
	 	 Rights of Holders
	  	26
			
	 15.
	 	 Notices
	  	26
			
	 16.
	 	 Amendment
	  	28
			
	 17.
	 	 Successors and Assigns
	  	28
			
	 18.
	 	 Third Party Beneficiary
	  	29
			
	 19.
	 	 Remedies
	  	29
			
	 20.
	 	 Waiver of Jury Trial
	  	29
			
	 21.
	 	 Severability
	  	29
			
	 22.
	 	 Counterparts; Facsimile Signatures
	  	29
			
	 23.
	 	 Miscellaneous
	  	30

  

 -ii- 

 THIS WARRANT AND THE SHARES OF COMMON STOCK PURCHASABLE UPON EXERCISE HEREOF HAVE NOT BEEN REGISTERED UNDER
THE SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE AND ARE SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFERABILITY AS SET FORTH HEREIN AND IN A REGISTRATION RIGHTS AGREEMENT, DATED AS OF NOVEMBER 24, 2009, AS SUCH AGREEMENT MAY
BE AMENDED FROM TIME TO TIME, A COPY OF WHICH IS ON FILE AT THE OFFICES OF THE COMPANY. 
 NEITHER THIS WARRANT NOR THE SHARES OF COMMON STOCK
PURCHASABLE UPON EXERCISE HEREOF MAY BE SOLD OR OTHERWISE DISPOSED OF IN VIOLATION OF SUCH ACT, APPLICABLE STATE SECURITIES LAWS, THE PROVISIONS OF THIS WARRANT OR SUCH REGISTRATION RIGHTS AGREEMENT. 
 No. of Shares of Common Stock: 4,156,863 
 JohnsonDiversey Holdings, Inc. 
 Common Stock Purchase Warrant 
 New York, N.Y. 
 November 24, 2009 
 JohnsonDiversey Holdings, Inc., a Delaware corporation (the “Company”), for value received, hereby certifies that Marga,
B.V., a company organized under the laws of the Netherlands (the “Purchaser”), or its permitted assigns, is entitled to purchase from the Company four million one hundred fifty-six thousand eight hundred sixty-three
(4,156,863) duly authorized, validly issued, fully paid and nonassessable shares of Common Stock, par value $0.01 per share, of the Company at the purchase price per share determined pursuant to Sections 1.2 and 2 hereof, at any time
during the Exercise Period, all subject to the terms, conditions and adjustments set forth below in this Warrant. Certain capitalized terms used in the Warrant are defined in Section 13. 
 This Warrant is the Common Stock Purchase Warrant (the “Warrant” or “Warrants,” such terms to include any
other warrant issued upon transfer, division or combination hereof or in substitution or exchange therefor in accordance with the terms hereof), originally issued on November 24, 2009 (the “Closing Date”) in connection with the
redemption by the Company of 1,960 shares of its Class B Common Stock and as partial payment of the purchase price therefor under the Redemption Agreement between the Company, JohnsonDiversey, Inc. (“JDI”), Commercial Markets
Holdco, Inc. (“CMH”), Unilever, N.V. (“Unilever”), Purchaser and Conopco, Inc. (“Conopco”), dated as of October 7, 2009, as amended by Amendment No. 1 thereto, dated as of
November 20, 2009, by and among the Company, JDI, CMH, Unilever, Purchaser and Conopco (the “Redemption Agreement”). The Warrant evidences rights to purchase four million one hundred fifty-six thousand eight hundred sixty-three
(4,156,863) duly authorized, validly issued, fully paid and nonassessable shares of Common Stock (such number of shares of Common Stock referred to herein as the “Initial Exercise Shares”), subject to adjustment as provided
herein. 

 1. Exercise of Warrant. 
 1.1. Exercise Period. 
 (a) Subject to Section 1.1(b), the holder of the Warrant (the “Holder”) may exercise the Warrant, in whole or in part, at any time on or after the occurrence of a Liquidity Event
(the “Exercise Period”), solely in connection with a sale of the Warrant Shares by the Holder to a Third Party Buyer (a “Holder Sale Transaction”); provided, however, that if such Liquidity Event is
terminated or abandoned for any reason, the vesting of the Exercise Period and any purported exercise of the Warrant in connection therewith shall be deemed to have been void ab initio and the Company shall have no obligation or liability for any
failure to issue Warrant Shares in respect thereof except to refund any Exercise Price theretofore paid by the Holder and the Warrant shall continue in full force and effect. The Warrant will be deemed exercised, without regard to the Exercise
Period or delivery of a Subscription Notice (as provided in Section 1.2), under the circumstances set forth in Sections 5.2(c) and 8. 
 (b) If the Holder desires to engage in a Holder Sale Transaction at any time during the Exercise Period with respect to the Warrant or any Warrant Shares (other than in connection with a Public Offering,
Change of Control, Drag-Along Closing or Tag-Along Closing), the Holder shall deliver to CMH (with a copy to the Company and the CD&R Investor) written notice (a “Notice of Sale”), stating the Holder’s intention to effect
such a sale, and shall comply with the provisions of this Section 1.1(b). 
 (i) CMH may make an offer (the
“CMH Offer”) to the Holder to acquire the Warrant or any Warrant Shares upon terms and conditions set out in a written notice (the “Offer Notice”) to the Holder within 10 Business Days after receipt of the Notice of
Sale (the “Offer Period”). The Offer Notice shall state the number of Warrant Shares subject to such sale, the proposed cash purchase price therefor and any other material terms and conditions of the proposed sale. The CMH Offer
(A) shall be accompanied by evidence of CMH’s ability to fund the purchase price set forth therein, (B) shall be in form and substance so as to be immediately acceptable by the Holder, (C) shall provide that the proposed sale
shall be consummated within 30 days after the Holder’s acceptance of such CMH Offer and (D) will remain open, irrevocable and unconditional (except for a condition that the proposed sale does not violate any applicable laws) until the
expiration of the Holder Acceptance Period (and, to the extent such CMH Offer is accepted during such period, until the consummation of the sale contemplated thereby). 
 (ii) The Holder shall have the right and option, for a period of 10 Business Days after receipt of the Offer Notice (the
“Holder Acceptance Period”), to accept the sale of the Warrant or Warrant Shares at the purchase price and on the terms and conditions stated in the Offer Notice. Such acceptance shall be made by delivering a written notice of such
acceptance (an “Acceptance Notice”) to CMH prior to the end of the Holder Acceptance Period. 
  

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 (iii) If CMH shall not have delivered an Offer Notice prior to the
expiration of the Offer Period, then the Holder may consummate a Holder Sale Transaction at any time within 180 days after the expiration of the Offer Period (the “Restricted Open Sale Period”) and the rights and obligations of the
Holder and CMH under Sections 1.1(b)(iv) through (viii) shall not apply to such Holder Sale Transaction; provided, that any such sale shall be consummated in compliance with all applicable rules and regulations under the Securities Act.

 (iv) If the Holder shall not have accepted a CMH Offer prior to the expiration of the Holder Acceptance
Period, then the Holder may consummate a Holder Sale Transaction at any time within the Restricted Open Sale Period pursuant to an offer (an “Acceptable Offer”) providing for (A) a purchase price that is not less than 110% of
the value of the purchase price set forth in the Offer Notice and (B) other terms and conditions that are not materially less favorable to the Holder than the other terms and conditions set forth in the Offer Notice; provided, that any
such sale shall be consummated in compliance with all applicable rules and regulations under the Securities Act. 
 (v) If the Holder desires to effect a Holder Sale Transaction during the Restricted Open Sale Period pursuant to an offer that does not constitute an Acceptable Offer (an “Unacceptable Offer”), (A) at least five
Business Days prior to consummating such Holder Sale Transaction, the Holder shall deliver to CMH written notice of the terms and conditions of such Unacceptable Offer (an “Unacceptable Offer Notice”), and (B) at least five
Business Days prior to delivering such Unacceptable Offer Notice, the Holder shall deliver to CMH written notice (a “Notice of an Unacceptable Offer Negotiation”) that the Holder believes that it is negotiating an offer that is
likely to constitute an Unacceptable Offer. 
 (vi) Within three Business Days after its receipt of an
Unacceptable Offer Notice (the “Counter-Offer Period”), CMH may make a written offer to the Holder to acquire the Warrant or the Warrant Shares at a purchase price that is not less than the purchase price provided for in the
Unacceptable Offer and on other terms and conditions that are not materially less favorable to the Holder than the other terms and conditions provided for in the Unacceptable Offer (a “Counter-Offer”). Any Counter-Offer
(A) shall be accompanied by evidence of CMH’s ability to fund the purchase price set forth therein, (B) shall be in form and substance so as to be immediately acceptable by the Holder, (C) shall provide that the proposed sale
shall be consummated within 30 days after the Holder’s acceptance of such Counter-Offer and (D) will remain open, irrevocable and unconditional (except for a condition that the proposed sale does not violate any applicable laws) for 30
days after delivery of the Counter-Offer to the Holder (and, to the extent such Counter-Offer is accepted during such period, until the consummation of the sale contemplated thereby). If the Holder shall not have accepted such Counter-Offer within
30 days after delivery of such Counter-Offer to the Holder, then the Holder shall be deemed to have rejected such Counter-Offer and the Holder shall be prohibited from consummating the Unacceptable Offer giving rise to such Counter-Offer without
first complying anew with the provisions of this Section 1.1(b) with respect to any such proposed Holder Sale Transaction. 
  

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 (vii) If CMH shall not have elected to make a Counter-Offer for the Warrant
or the Warrant Shares prior to the expiration of the Counter-Offer Period, then the Holder may Transfer the Warrant or the Warrant Shares pursuant to the applicable Unacceptable Offer within two Business Days after the expiration of the
Counter-Offer Period; provided, that any such Transfer shall be consummated in compliance with all applicable rules and regulations under the Securities Act. 
 (viii) In connection with the consummation of any sale of the Warrant or Warrant Shares pursuant to a CMH Offer or a
Counter-Offer, the Holder shall make the deliveries and provide the representations and warranties set forth in Section 6.3(b) with respect to the Warrant and mutatis mutandi with respect to the sale of the Warrant Shares in connection
with the closing of the CMH Offer or Counter-Offer. 
 (ix) The Holder shall notify CMH (with a copy to the
Company and the CD&R Investor) of the consummation of any Holder Sale Transaction and shall furnish such evidence of the closing (including the time of closing) of such transaction and of the terms thereof as CMH, the Company or the CD&R
Investor may reasonably request. In the event that the Warrant or the Warrant Shares are not sold or otherwise transferred by the Holder during the Restricted Open Sale Period in accordance with the provisions of this Section 1.1(b), the right
of the Holder to transfer the Warrant or the Warrant Shares shall expire and the obligations set forth in this Section 1.1(b) shall be reinstated. 
 (x) Notwithstanding anything to the contrary herein, without the prior written consent of the Principal Stockholders, prior to the sixth anniversary of the Closing Date, the Holder shall not consummate
any Holder Sale Transaction with any purchaser other than a Financial Party who shall agree in writing to not transfer any Warrant Shares to any purchaser other than a Financial Party prior to the sixth anniversary of the Closing Date;
provided, however, that if the comparable transfer restrictions in the Stockholders Agreement are amended, modified or waived in any manner that is more favorable to, or less restrictive upon, the CD&R Investor, then this clause
(x) shall be deemed amended to conform to such more favorable or less restrictive provision. The Company shall promptly provide the Holder with the language of any such amendment (it being understood that no such communication shall be required
for any such amendment to become effective). 
 1.2. Manner of Exercise. Subject to Sections 1.1, 5.2(c), 8 and 9.2,
the Warrant may be exercised by the Holder, during normal business hours on any Business Day by surrender of the Warrant, with the form of subscription at the end hereof (or a reasonable facsimile thereof) (the “Subscription
Notice”) duly executed by such Holder, to the Company at its principal office, accompanied by payment, in cash or by certified or official bank check payable to the order of the Company or by any other

  

 4 

 
reasonably acceptable form of immediately available funds, in the amount (such amount referred to herein as the “Exercise Price”) obtained by multiplying (a) the number of
shares of Common Stock (after giving effect to any adjustment provided for in Section 2) designated in such Subscription Notice by (b) the greater of (i) the Warrant Price (after giving effect to any adjustment provided for in
Section 2) and (ii) $0.01. Such Holder shall thereupon be entitled to receive the number of duly authorized, validly issued, fully paid and nonassessable shares of Common Stock (or Other Securities) determined as provided in Section 2
hereof, which shares shall be delivered in accordance with Section 1.4. 
 1.3. When Exercise Deemed Effected.
Subject to Sections 1.1, 5.2(c), 8 and 9.2, the exercise of the Warrant with respect to any Holder Sale Transaction shall be deemed to have been effected immediately prior to the consummation of such Holder Sale Transaction and only to the
extent of the Warrant Shares being sold pursuant to such Holder Sale Transaction, subject to surrender of the Warrant to the Company with a duly executed Subscription Notice accompanied by payment of the Exercise Price as provided in
Section 1.2, and at such time the person or persons in whose name or names any certificate or certificates for shares of Common Stock (or Other Securities) shall be issuable upon such exercise as provided in Section 1.4 shall be deemed to
have become the holder or holders of record thereof. 
 1.4. Delivery of Stock Certificates, etc. As soon as practicable
after the exercise of the Warrant (but not later than two days after exercise), and in the event such exercise occurs in connection with a Liquidity Event, prior to the consummation of such Liquidity Event, the Company shall cause to be issued in
the name of the Holder or, subject to Section 5, as such Holder (upon payment by such Holder of any applicable transfer taxes) may direct, a certificate or certificates for the number of duly authorized, validly issued, fully paid and
nonassessable shares of Common Stock (or Other Securities) to which such Holder shall be entitled upon such exercise plus, in lieu of any fractional share to which such Holder would otherwise be entitled, cash in an amount equal to the same fraction
of the Fair Market Value of such share of such Common Stock, which Fair Market Value shall be determined in accordance with the procedures set forth in Section 2.5(b). 
 1.5. Payment of Taxes and Expenses. The Company shall pay all expenses in connection with, and all taxes and other governmental
charges that may be imposed with respect to, the issuance or delivery of the Warrant and the Warrant Shares. The Holder shall pay any withholding tax imposed in connection with any adjustment made under the terms of the Warrant. 
 2. Adjustment of Common Stock Issuable upon Exercise. 
 2.1. Number of Shares; Warrant Price. The number of shares of Common Stock which the Holder shall be entitled to receive upon the exercise hereof (the “Warrant Shares”) shall
initially be the Initial Exercise Shares and shall be adjusted and readjusted from time to time as provided in Section 2 and, as so adjusted or readjusted, shall remain in effect until a further adjustment or readjustment thereof is required by
Section 2. The “Warrant Price,” which shall initially be $0.01 per share, shall be adjusted and readjusted from time to time as provided in Section 2 and, as so adjusted or readjusted, shall remain in effect until a
further adjustment or readjustment thereof is required by Section 2. 
  

 5 

 2.2. Stock Dividends, Subdivisions and Combinations. If at any time the Company
shall: 
 (i) issue or deliver any shares of Common Stock as a result of the declaration or payment of a dividend
of Common Stock payable in, or other distribution to holders of Common Stock of, shares of Common Stock, 
 (ii)
subdivide its outstanding shares of Common Stock into a larger number of shares of Common Stock, or 
 (iii)
combine its outstanding shares of Common Stock into a smaller number of shares of Common Stock, 
 then (a) the Warrant Price then in
effect shall be adjusted to equal (1) the Warrant Price in effect immediately prior to such Common Stock issuance, delivery, subdivision or combination, multiplied by the number of shares of Common Stock for which the Warrant is exercisable
immediately prior to the adjustment divided by (2) the number of shares of Common Stock which a record holder of the same number of shares of Common Stock for which the Warrant is exercisable immediately prior to the happening of such event
would own after the happening of such event, and (b) the number of Warrant Shares issuable upon exercise of the Warrant shall be adjusted to equal the number obtained by dividing (1) the product of (A) the number of Warrant Shares
issuable upon the exercise of the Warrant immediately prior to the happening of such event and (B) the Warrant Price in effect immediately prior to the adjustment pursuant to the foregoing clause (a) upon the happening of such event, by
(2) the new Warrant Price after giving effect to the adjustment pursuant to the foregoing clause (a) upon the happening of such event. 
 2.3. Dividends and Distributions. If at any time the Company shall distribute to all holders of its outstanding Common Stock evidences of indebtedness of the Company, or assets or securities other
than the Common Stock (any such evidences of indebtedness, assets or securities, the “Assets”), then, in each case, (a) the Warrant Price then in effect shall be reduced to a price determined by multiplying such Warrant Price
by a fraction, 
 (i) the numerator of which shall be the Fair Market Value in effect immediately prior to such
distribution, less the value of such Assets applicable to one share of Common Stock, and 
 (ii) the denominator
of which shall be such Fair Market Value in effect immediately prior to such distribution, 
 and (b) the number of Warrant Shares issuable
upon exercise of the Warrant shall be increased to a number determined by multiplying the number of Warrant Shares immediately prior to such distribution by a fraction, 
 (i) the numerator of which shall be the Fair Market Value in effect immediately prior to such distribution, and 

 

 6 

 (ii) the denominator of which shall be the Fair Market Value in effect
immediately prior to such distribution, less the value of such Assets applicable to one share of Common Stock. 
 2.4.
Consolidation, Merger, Sale of Assets, Reorganization, etc. If at any time the Company shall be a party to any transaction (including without limitation a merger, consolidation, sale of all or substantially all of the Company’s assets or
recapitalization of the Common Stock) in which the Common Stock shall be changed into or exchanged for different securities of the Company or changed into or exchanged for common stock or other securities of another corporation or interests in a
noncorporate entity or other property (including cash) or any combination of any of the foregoing (other than any such transaction which constitutes a Liquidity Event) (each such transaction being hereinafter referred to as the
“Transaction”) and the Warrant has not been exercised prior to the consummation of the Transaction, lawful and adequate provisions shall be made so that, upon the basis and terms and in the manner provided in this Section 2.4,
(i) the Holder shall receive, in lieu of the Common Stock issuable upon exercise of the Warrant prior to such consummation, the stock and other securities, cash and property to which the Holder would have been entitled upon the consummation of
the Transaction if the Holder had exercised the Warrant pursuant to Section 1 immediately prior thereto, subject to adjustments as nearly equivalent as possible to the adjustments provided for in Section 2; and (ii) following the
consummation of the Transaction, the Warrant will represent only the right to receive any such stock, other securities, cash or property. 
 2.5. Other Provisions Applicable to Adjustments under this Section 2. The following provisions shall also be applicable to the making of adjustments to the number of Warrant Shares pursuant to
this Section 2: 
 (a) Computation of Asset Value. To the extent that any Assets shall be distributed to all holders
of the Company’s outstanding Common Stock, if such Assets are securities offered by the Company for subscription, the value of such Assets shall be the subscription price, or if such Assets are securities sold to underwriters or dealers for
public offering without a subscription offering, the initial public offering price (in any such case adding any accrued interest or dividends but without taking into account any compensation, discounts or expenses paid or incurred by the Company in
connection therewith). To the extent that the Company shall so distribute Assets, except as herein otherwise expressly provided, then the value of such Assets shall be deemed to be the value of such Assets as determined in accordance with this
Section 2.5(a) (the “Asset Value”). The Asset Value shall be determined by an investment banking or valuation firm of national reputation and mutually agreed upon by the Company and the Holder (the “Financial
Expert”). If the Company and the Holder are unable to agree upon a Financial Expert, each of the Company and the Holder shall select a Financial Expert and the two Financial Experts so selected shall select the Financial Expert. The
Financial Expert shall be requested to make its determination, if practicable, within a period of 30 days after its appointment. The Financial Expert shall determine (in its opinion and having requested such further information from the Company as
it shall require and the Company shall cooperate to provide the information so requested) a reasonable range of values for the Asset Value on the basis of objective, generally accepted financial and valuation procedures utilized in determining the
value of assets similar in kind and/or type to the Assets. The Company and the Holder shall mutually agree on the Asset Value within the range determined by the Financial Expert, provided that if the Company and the Holder are unable to agree
on the Asset Value within 30 days after the Financial Expert’s

  

 7 

 
determination, the Asset Value shall be determined by an independent public accounting firm of international reputation mutually selected by the Company and the Holder (the
“Auditors”) from within the range of values determined by the Financial Expert. The costs of the Financial Expert’s (and, if applicable, the Auditors’) determination shall be borne by the Company. 
 (b) Computation of Fair Market Value. Except as herein otherwise expressly provided, the fair market value of a share of Common Stock
shall be deemed to be the fair market value of such share of Common Stock as determined by the Financial Expert selected in accordance with Section 2.5(a) (the “Fair Market Value”). The Financial Expert shall be requested to
make its determination, if practicable, within a period of 30 days after its appointment. The Financial Expert shall determine (in its opinion and having requested such further information from the Company as it shall require and the Company shall
cooperate to provide the information so requested) a reasonable range of values for the Fair Market Value and in so doing shall give due consideration to such factors as the Financial Expert deems appropriate, including, without limitation, the
earnings and certain other financial and operating information of the Company and its Subsidiaries in recent periods, the potential value of the Company and its Subsidiaries as a whole, the future prospects of the Company and its Subsidiaries and
the industries in which they compete, the history and management of the Company and its Subsidiaries, the general condition of the securities markets, the fair market value of securities of companies engaged in businesses similar to those of the
Company and its Subsidiaries and the consideration paid for securities in similar transactions. The determination of Fair Market Value shall not take into account any restrictions on transfer of the shares of Common Stock. The Company and the Holder
shall mutually agree on the Fair Market Value within the range determined by the Financial Expert, provided that if the Company and the Holder are unable to agree on the Fair Market Value within 30 days after the Financial Expert’s
determination, the Fair Market Value shall be determined by the Auditors from within the range of values determined by the Financial Expert. The costs of the Financial Expert’s (and, if applicable, the Auditors’) determination shall be
borne by the Company. Notwithstanding the foregoing, if at any time the shares of Common Stock are traded on a national securities exchange, Fair Market Value shall mean the volume weighted average price per share of Common Stock for the 10 Business
Days immediately preceding the date as of which such Fair Market Value is determined. 
 (c) When Adjustment to Be Made.
The adjustments required by this Section 2 shall be made whenever and as often as any specified event requiring an adjustment shall occur, except that any adjustment of the number of shares of Common Stock for which the Warrant is exercisable
that would otherwise be required may be postponed (except in the case of a subdivision or combination of shares of the Common Stock, as provided for in Section 2.2) up to but not beyond the date of exercise if such adjustment either by itself
or with other adjustments not previously made adds or subtracts less than 1% of the shares of Common Stock for which the Warrant is exercisable immediately prior to the making of such adjustment. Any adjustment representing a change of less than
such minimum amount (except as aforesaid) which is postponed shall be carried forward and made as soon as such adjustment, together with other adjustments required by this Section 2 and not previously made, would result in at least a minimum
adjustment or, if earlier, immediately prior to the date of exercise of the Warrant. For the purpose of any adjustment, any specified event shall be deemed to have occurred at the close of business on the date of its occurrence. 
  

 8 

 (d) Fractional Interest; Rounding. In computing adjustments under this
Section 2, fractional interests in Common Stock shall be taken into account to the nearest 1/10th of a share, and adjustments in the Warrant Price shall be made to the nearest $.001. 
 (e) When Adjustment Not Required. If the Company shall take a record of the holders of its Common Stock for the purpose of entitling
them to receive any distribution and shall, thereafter and before the distribution to stockholders thereof, legally abandon its plan to deliver such distribution, then no adjustment shall be required by reason of the taking of such record and any
such adjustment previously made in respect thereof shall be rescinded and annulled. If at any time the Company shall distribute cash to all holders of its outstanding Common Stock, the Company shall make an equivalent cash distribution to the Holder
of the Warrant as it makes to holders of Common Stock pro rata based on the number of shares of Common Stock for which the Warrant is then exercisable (after taking into account all unmade adjustments prior to such date), and provided that
such cash distribution has been made in full to the Holder of the Warrant, the Company shall not be required to make an adjustment for such distribution. 
 (f) Timing of Adjustments. Any adjustment required by Section 2.2 or 2.3 shall be made whenever any such dividend, subdivision, combination or distribution (each, an “Adjustment
Event”) is made, and shall become effective on the effective date of the Adjustment Event (or, in the case of any adjustment pursuant to Section 2.3, the date on which the value of the Assets and the Fair Market Value have been finally
determined in accordance with Section 2.5) and retroactive to the record date for the determination of stockholders subject to the Adjustment Event, provided that the Company is not required to make an adjustment pursuant to Section 2.2 or
2.3 if at the time of any distribution in connection with an Adjustment Event the Company makes the same distribution to the Holder of the Warrant as it makes to holders of Common Stock pro rata based on the number of shares of Common Stock
for which the Warrant is then exercisable (after taking into account all unmade adjustments prior to such date). 
 3. Notice
of Adjustment. Whenever the number of Warrant Shares or the Warrant Price shall be adjusted pursuant to Section 2, the Company shall forthwith prepare a certificate to be executed by the chief financial officer of the Company setting forth,
in reasonable detail, the event requiring the adjustment and each other event being adjusted for if such detail has not previously been provided, the method by which the adjustment was calculated, the number of shares of Warrant Shares and the
Warrant Price after giving effect to such adjustment. The Company shall promptly cause a signed copy of such certificate to be delivered to the Holder. The Company shall keep at the office of the Company copies of all such certificates and cause the
same to be available for inspection during normal business hours by the Holder. 
 4. Notices of Corporate Action. In the
event of: 
 (a) any taking by the Company of a record of the holders of its Common Stock for the purpose of determining the
holders thereof who are entitled to receive any dividend payable in, or other distribution of, shares of Common Stock, or any other dividend or other distribution, or any right to subscribe for, purchase or otherwise acquire any shares of Common
Stock, or to receive any other right, 
  

 9 

 (b) any subdivision of outstanding shares of Common Stock into a larger number of shares of
Common Stock, or any combination of such shares into a smaller number of shares of Common Stock, 
 (c) any capital
reorganization of the Company or any reclassification or recapitalization of the capital stock of the Company, 
 (d) any other
event, change or other action that would trigger an adjustment under Section 2, or 
 (e) any Liquidity Event, 

the Company shall mail to the Holder a notice specifying (i) the date or expected date on which any such record is to be taken for the purpose of
such dividend, distribution or right, and the amount and character of such dividend, distribution or right, (ii) the date or expected date on which any such subdivision, combination or issuance is to take place, and the amount of Common Stock
that shall be the subject of such subdivision, combination or issuance and (iii) the date or expected date on which any such reorganization, reclassification, recapitalization, other event, change or action or Liquidity Event is to take place
and the time, if any such time is to be fixed, as of which the holders of record of Common Stock (or Other Securities) shall be entitled to exchange their shares of Common Stock (or Other Securities) for the securities or other property deliverable
upon such reorganization, reclassification, recapitalization, other event, change or action or Liquidity Event. Such notice shall be mailed at least 20 days prior to the date specified in subdivisions (i), (ii) and (iii) above.

 5. Restrictions on Transfer. 
 5.1. Certain Restrictions. Subject to Section 5.4, the Warrant and all shares of Common Stock (and Other Securities) issued upon the exercise of the Warrant shall not be Transferred, directly
or indirectly, other than (i) to a member of the Unilever Group, (ii) in connection with a Holder Sale Transaction as provided in Section 1.1, (iii) in connection with a Drag-Along Closing as provided in Section 5.2,
(iv) in connection with a Call Closing as provided in Section 6, (v) in connection with a Tag-Along Closing as provided in Section 8 or (vi) in connection with a Public Offering as provided in Section 9.2. Any attempted
Transfer of the Warrant or the Warrant Shares in contravention of this Section 5.1 shall be null and void. 
 (a)
Warrant Restrictive Legend. Except as otherwise permitted by this Section 5, the Warrant shall be stamped or otherwise imprinted with a legend in substantially the following form: 
 “THIS WARRANT AND THE SHARES OF COMMON STOCK PURCHASABLE UPON EXERCISE HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933,
AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE AND ARE SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFERABILITY AS SET FORTH HEREIN AND IN

  

 10 

 
A REGISTRATION RIGHTS AGREEMENT, DATED AS OF NOVEMBER 24, 2009, AS SUCH AGREEMENT MAY BE AMENDED FROM TIME TO TIME, A COPY OF WHICH IS ON FILE AT THE OFFICES OF THE SECRETARY OF JOHNSONDIVERSEY
HOLDINGS, INC. 
 NEITHER THIS WARRANT NOR THE SHARES OF COMMON STOCK PURCHASABLE UPON EXERCISE HEREOF MAY BE SOLD OR OTHERWISE
DISPOSED OF IN VIOLATION OF SUCH ACT, APPLICABLE STATE SECURITIES LAWS, THE PROVISIONS OF THIS WARRANT OR SUCH REGISTRATION RIGHTS AGREEMENT.” 
 (b) Warrant Shares Restrictive Legend. Except as otherwise provided in this Section 5, each certificate for Warrant Shares shall be stamped or otherwise imprinted with a legend in
substantially the following form: 
 “THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO THE TRANSFER
RESTRICTIONS SET FORTH IN A CERTAIN WARRANT, DATED NOVEMBER 24, 2009, ORIGINALLY ISSUED BY JOHNSONDIVERSEY HOLDINGS, INC., AS SUCH WARRANT MAY BE AMENDED FROM TIME TO TIME, A COPY OF WHICH IS ON FILE WITH THE SECRETARY OF JOHNSONDIVERSEY HOLDINGS,
INC. THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE ENTITLED TO CERTAIN OF THE BENEFITS OF AND ARE BOUND BY THE OBLIGATIONS SET FORTH IN A CERTAIN REGISTRATION RIGHTS AGREEMENT, DATED AS OF NOVEMBER 24, 2009, AS SUCH AGREEMENT MAY BE AMENDED
FROM TIME TO TIME, A COPY OF WHICH IS ON FILE AT THE OFFICE OF THE SECRETARY OF JOHNSONDIVERSEY HOLDINGS, INC. THE HOLDER OF THIS CERTIFICATE, BY ACCEPTANCE OF THIS CERTIFICATE, AGREES TO BE BOUND BY THE PROVISIONS OF SUCH WARRANT AND SUCH
REGISTRATION RIGHTS AGREEMENT. 
 THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
1933, AS AMENDED, OR UNDER ANY STATE OR FOREIGN SECURITIES LAWS AND MAY NOT BE TRANSFERRED, SOLD, PLEDGED, HYPOTHECATED OR OTHERWISE DISPOSED OF UNLESS (i) (A) SUCH DISPOSITION IS PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE
SECURITIES ACT OF 1933, AS AMENDED, OR (B) THE HOLDER HEREOF SHALL HAVE DELIVERED TO JOHNSONDIVERSEY HOLDINGS, INC. AN OPINION OF COUNSEL TO THE EFFECT THAT SUCH DISPOSITION IS EXEMPT FROM THE PROVISIONS OF SECTION 5 OF SUCH ACT AND
(ii) SUCH DISPOSITION IS PURSUANT TO REGISTRATION UNDER ANY APPLICABLE STATE SECURITIES LAWS OR AN EXEMPTION THEREFROM.” 
  

 11 

 (c) Notice of Proposed Transfer; Opinion of Counsel. Subject to compliance with the
first paragraph of this Section 5.1 and Section 5.3, prior to any Transfer of any Restricted Securities that are not registered under an effective registration statement under the Securities Act (other than a Transfer to the Company or
pursuant to Rule 144 under the Securities Act or any comparable rule under such Act or a Transfer at a Drag-Along Closing, Tag-Along Closing or Call Closing or the consummation of a Holder Sale Transaction), the holder of such Restricted Securities
shall give written notice (a “Transfer Notice”) to the Company of such holder’s intention to effect such Transfer and shall comply in all material respects with this Section 5.1(c). Each Transfer Notice shall describe the
manner and circumstances of the proposed Transfer in reasonable detail and be accompanied by an opinion of counsel (which requirement may be waived by the Company), who shall be independent of the holder proposing such Transfer (but who may be the
holder’s regular outside counsel), experienced in Securities Act matters, to the effect that the proposed Transfer may be effected without registration. If the Company determines such Transfer complies with the restrictions set forth in this
Section 5.1 and 5.3, such holder of Restricted Securities shall thereupon be entitled to Transfer the securities in question in accordance with the terms of the Transfer Notice, provided that the transferee of any such Restricted Securities
pursuant to a Transfer Notice shall remain subject to the restrictions on Transfer set forth in Sections 5.1(a), (b) and (c) and Section 5.3, subject to the termination provisions of Section 5.4(a). The Company shall
instruct the transfer agent for the Warrant and the Warrant Shares (the “Transfer Agent”), if any, to cooperate with the Holder to effect any Transfers permitted to be made pursuant to the terms of the Warrant, and the Transfer
Agent is hereby authorized to do so. Each Warrant or share certificate, if any, issued upon or in connection with such Transfer shall bear the appropriate restrictive legend set forth in Section 5.1(a) or Section 5.1(b), as the case may
be, unless, (i) in the opinion of such counsel, such legend is no longer required to ensure compliance with the Securities Act and (ii) any transfer restrictions set forth in the Registration Rights Agreement are no longer applicable.

 5.2. Drag-Along Rights. 
 (a) Drag-Along Notice. If CMH, on the one hand, or CDR Jaguar Investor Company, LLC (the “CD&R Investor”), on the other hand, together with its respective Permitted Transferees
and their respective Equity Purchase Assignees, intends to effect a sale of 90% or more of the shares of Common Stock held by it, its Permitted Transferees and their respective Equity Purchase Assignees (such a transferor or transferors of 90% or
more of its or their shares of Common Stock, a “Drag-Along Transferor”) to a Third Party Buyer and such Drag-Along Transferor concurrently elects to exercise its drag-along rights with respect to a Drag Transaction with such Third
Party Buyer under Section 3.5 of the Stockholders Agreement, the Drag-Along Transferor may exercise its rights under this Section 5.2 by delivering written notice (a “Drag-Along Notice”) to the Holder, which notice shall
(a) state (i) that the Drag-Along Transferor wishes to exercise its rights under this Section 5.2 with respect to such sale, (ii) the name and address of the Third Party Buyer, (iii) the per share amount and form of
consideration the Drag-Along Transferor proposes to receive for its shares of Common Stock (the “Drag-Along Price”) and (iv) the terms and conditions of payment of such consideration and all other material terms and conditions
of such sale, (b) contain an offer (the “Drag-Along Offer”) to the Holder by the Third Party Buyer to purchase the portion of the Warrant representing a percentage of Warrant Shares equal to the percentage (the
“Applicable Percentage”) of the shares of Common Stock owned by the Drag-Along Transferor that are to be sold to the Third Party Buyer (the “Applicable Portion”) at the same price (less, in the case of the Holder,
the Exercise Price) and on and subject to the same terms and conditions offered to the Drag-Along Transferor and subject to Sections 5.2(b) and (c), and (c) state the anticipated time and place of the closing of the purchase and sale of
the Applicable Portion of the Warrant (a “Drag-Along Closing”). 
  

 12 

 (b) Conditions to Drag-Along. Subject to the provisions of Applicable Law, upon
delivery of a Drag-Along Notice, the Holder shall have the obligation and the right to transfer and sell to the Third Party Buyer the Applicable Portion of the Warrant pursuant to the Drag-Along Offer, as the same may be modified from time to time,
provided that the Drag-Along Transferor sells and transfers the Applicable Percentage of its shares of Common Stock to the Third Party Buyer at the Drag-Along Closing at the same price (less, in the case of the Holder, the Exercise Price) and on the
same terms and conditions. In connection with the Drag-Along Transaction, the Holder will agree to make or agree to the same customary representations, covenants, indemnities and agreements in connection with the Holder’s ownership of the
Warrant and the Warrant Shares and authority to sell the Warrant Shares as the Drag-Along Transferor makes with respect to its shares of Common Stock so long as they are made severally and not jointly and the liabilities thereunder are borne only by
the party making or agreeing to make such representations, covenants, indemnities and agreements. Promptly following the Drag-Along Closing, the Holder shall (i) remit to the Company the Exercise Price for the Warrant Shares represented by the
Applicable Portion of the Warrant and (ii) receive from the Company (x) a written confirmation of such transfer (and the consequent cancellation of the Applicable Portion of the Warrant by the Company) and (y) a new Warrant for the
purchase of an aggregate number of Warrant Shares equal to the number of Warrant Shares underlying the Warrant immediately prior to the transfer of the Applicable Portion of the Warrant to the Third Party Buyer minus the number of Warrant Shares
represented by the Applicable Portion of the Warrant. 
 (c) Warrant Shares Drag Along. If, in any Drag-Along Offer, the
Third Party Buyer offers to purchase the Applicable Portion of the Warrant Shares (rather than the Warrant) and if so provided in the Drag-Along Notice, the Applicable Portion of the Warrant will be deemed exercised immediately prior to the
Drag-Along Closing, and the Warrant Shares resulting from such exercise shall be sold to the Third Party Buyer at the same price and subject to the same terms and conditions as offered to the Drag-Along Transferor. 
 (d) Remedies. If, following a breach or a threatened breach by the Holder of the provisions of this Section 5.2, the Drag-Along
Transferor, pursuant to the exercise of its remedies set forth in Section 19, does not obtain an injunction granting it specific performance of the Holder’s obligations under this Section 5.2 in connection with such proposed transfer,
sale, surrender or cancellation prior to the time the Drag-Along Transferor completes the sale of the Applicable Portion of its shares of Common Stock or, in its sole discretion, abandons such sale, then the Company shall have the option to purchase
all Restricted Securities from the Holder at a purchase price equal to the Exercise Price. 
 5.3. Registration; Restrictions
on Sale upon Public Offering. In addition to the restrictions on Transfer set forth in Section 5.1, each holder of Restricted Securities agrees that, in the event that the Company files a registration statement under the Securities Act with
respect to an underwritten public offering of any shares of its capital stock, such holder shall be subject to such restrictions on transfer and resale with respect to the shares issuable upon exercise of the Warrant as are set forth in the
Registration Rights Agreement. 
  

 13 

 5.4. Termination of Restrictions. 
 (a) Securities Law Restrictions. The legend requirements of Sections 5.1(a) and 5.1(b) and the restrictions imposed by
Section 5.1(c) shall terminate as to any Restricted Security (i) when and so long as the security in question shall have been effectively registered under the Securities Act and disposed of in accordance with the registration statement
covering such Restricted Securities, or (ii) when (x), in the opinion of counsel for the holder thereof, such restrictions are no longer required in order to insure compliance with the Securities Act and (y) any transfer restrictions set
forth in the Registration Rights Agreement are no longer applicable. Whenever any such restrictions shall terminate as to any Warrant Shares, as soon as practicable thereafter and in any event within five days, the holder thereof shall be entitled
to receive from the Company and the Company agrees to issue to such holder, without expense (other than transfer taxes, if any) and at the request of the holder thereof, new securities of like tenor not bearing the legend set forth in
Section 5.1(b) hereof. Legend requirements set forth in Sections 5.1(a) and 5.1(b) hereof shall continue in effect with respect to other transfer restrictions set forth herein and in the Registration Rights Agreement for so long as such
restrictions remain applicable and thereafter the Company agrees to reissue securities not bearing any legend. 
 (b) Other
Restrictions. Subject to Section 5.4(a), the restrictions set forth in Section 5.1 shall terminate on the Termination Date. The rights and obligations of the Drag-Along Transferor and the Holder pursuant to Section 5.2 shall
terminate on the earlier of (i) the Termination Date and (ii) the date on which the Company registers any class of equity securities pursuant to Section 12 of the Exchange Act such that Section 13(d) of the Exchange Act is
applicable to purchasers of such equity securities. The Tag-Along Rights of the Holder pursuant to Section 8 shall terminate on the earlier of (i) the Termination Date and (ii) the date on which the Company registers any class of
equity securities pursuant to Section 12 of the Exchange Act such that Section 13(d) of the Exchange Act is applicable to purchasers of such equity securities. The restrictions set forth in Section 5.3 shall terminate in accordance
with the provisions of the Registration Rights Agreement. 
 6. Call Option. 
 6.1. Exercise of Call Option. CMH (the “Calling Party”) may purchase the Warrant from the Holder, in whole and not
in part, at a price equal to the Call Price (the “Call Option”) upon written notice to the Holder (the “Call Notice”) given by the Calling Party (with a copy to the Company and the CD&R Investor). 
 6.2. Determination of Call Price. 
 (a) The Calling Party and the Holder shall use their respective best efforts during the 30-day period commencing 30 days after the Call Notice is given to mutually agree on the purchase price to be paid
for the Warrant (such agreed upon price, the “Call Price”). If the Calling Party and the Holder fail to reach an agreement on the Call Price within such 30-day period, then the Call Notice will be deemed to have been terminated on
such date and neither the Calling Party nor the Holder shall be liable for the failure to consummate the Call Closing. Subject to compliance with the procedures set forth in this Section 6, following the failure to consummate a Call Closing,
the Calling Party shall not be prohibited from exercising the Call Option at a later date. 
  

 14 

 (b) Following the exercise of the Call Option and until the determination of the Call Price
in accordance with this Section 6.2, the Company will provide the Calling Party and the Holder (and their respective professional advisers, subject to customary confidentiality undertakings) with such historic and prospective information
existing on the date on which the Call Option is exercised which is reasonably requested by the Calling Party and/or the Holder for the purposes of determining the Call Price, including, inter alia, historical and forecast financial information for
the Company and its Subsidiaries and information otherwise reasonably required to determine the Call Price. The information supplied by the Company under this Section 6.2(b) shall be prepared in good faith but otherwise without liability on the
part of the Company or any other party involved in the supply of information. The costs incurred by the Company in supplying any information to the Calling Party or the Holder pursuant to this Section 6.2(b) shall be borne by the Company.

 6.3. Call Closing. 
 (a) Subject to Sections 6.2(a) and 6.3(b), the closing, if any, of the purchase of the Warrant pursuant to the Call Option (the “Call Closing”) shall take place on such date and at such
time and place to be mutually agreed upon by the Calling Party and the Holder (such date, the “Call Closing Date”). 
 (b) At any Call Closing, (x) the Holder shall deliver to the Calling Party the Warrant (properly endorsed or accompanied by appropriate documentation of authority to transfer), in exchange for payment to the Holder of the Call Price by
wire transfer of immediately available funds, and (y) the Holder shall represent and warrant to the Calling Party that, as of the Call Closing Date: 
 (i) it is the sole legal and beneficial owner of the Warrant and has the requisite power and authority to sell the Warrant and do all other things it is required to do in connection with such purchase and
sale under this Section 6; 
 (ii) upon consummation of the Call Closing, it shall have validly and
effectively transferred (A) good and valid title to the Warrant to the Calling Party free and clear of all liens and (B) all rights of any nature attaching to the Warrant; 
 (iii) except for the Call Option and the restrictions contained in the Warrant and the Registration Rights Agreement, there
is no option, right to acquire, mortgage, charge, pledge, lien or other form of security or encumbrance or equity on, over or affecting the Warrant and there is no agreement or commitment to give or create any of the foregoing; 
 (iv) the instruments of transfer executed and delivered at the Call Closing constitute binding obligations of the Holder,
enforceable in accordance with their terms, except as the same may be limited by applicable bankruptcy, insolvency, moratorium, reorganization, fraudulent transfer or other similar laws of general applicability relating to or affecting
creditors’ rights from time to time in effect and general principles of equity, including, without limitation, concepts of materiality, reasonableness, good faith and fair dealing, regardless of whether in a proceeding in equity or at law; and

  

 15 

 (v) the performance of its obligations under this Section 6 will not:
(A) result in a breach of any provision of its constitutional documents, if any, (B) result in a breach of or constitute a default under any instrument to which it is a party or by which it is bound, (C) result in a breach of any
order, judgment or decree of any court or governmental agency to which it is a party or by which it is bound, or (D) require the consent of any Person, which consent has not been obtained. 
 6.4. Call Option Termination. The rights and obligations of the Calling Party and the Holder pursuant to this Section 6 shall
terminate on the earlier of (i) the Termination Date and (ii) the date on which the Company registers any class of equity securities pursuant to Section 12 of the Exchange Act such that Section 13(d) of the Exchange Act is
applicable to purchasers of such equity securities. 
 7. Preemptive Rights Warrant. 
 7.1. Preemptive Rights Warrant. The Holder and any member of the Unilever Group (for so long as the Holder or any such member of the
Unilever Group holds Warrant Shares) shall have the right, from time to time, to purchase a warrant of like tenor and with substantially the same terms and conditions as this Warrant (each, a “Preemptive Rights Warrant”) exercisable
for a number of New Securities equal to the Pro Rata Portion of all or any part of New Securities that the Company or any of its Subsidiaries may, from time to time, propose to sell or issue on the terms and subject to the conditions in this
Section 7. The number or amount of New Securities for which a Preemptive Rights Warrant is exercisable shall be referred to as the “Preemptive Rights Shares.” The rights provided in this Section 7.1 shall apply at the time
of issuance of any right, warrant or option or convertible or exchangeable security and not to the conversion, exchange or exercise thereof. 
 7.2. Issuance Notice. The Company shall give written notice of a proposed issuance or sale described in Section 7.1 to the Holder within five Business Days following any meeting of the Board
of Directors of the Company at which any such issuance or sale is approved and at least 15 days prior to the proposed issuance or sale. Such notice (the “Issuance Notice”) shall set forth the material terms and conditions of such
proposed transaction, including the name of any proposed purchaser(s), the proposed manner of disposition, the number or amount and description of the shares proposed to be issued, the proposed issuance date and the proposed purchase price per
share, including a description of any non-cash consideration sufficiently detailed to permit the determination of the fair market value thereof. Such notice shall also be accompanied by any written offer from the prospective purchaser to purchase
such New Securities. 
 7.3. Election. At any time during the 15-day period following the receipt of an Issuance Notice,
the Holder shall have the right to elect irrevocably to purchase a Preemptive Rights Warrant, exercisable for up to the number of the Preemptive Rights Shares at the purchase price set forth in the Issuance Notice (provided that, in the event
any portion of the purchase price per share to be paid

  

 16 

 
by the proposed purchaser is to be paid in non-cash consideration, the value of any such non-cash consideration per share shall be the fair market value thereof as determined in good faith by the
Board of Directors of the Company) and upon the other terms and conditions specified in the Issuance Notice by delivering a written notice to the Company. Except as provided in the following sentence, such purchase shall be consummated concurrently
with the consummation of the issuance or sale described in the Issuance Notice. The closing of any purchase of a Preemptive Rights Warrant by the Holder may be extended beyond the closing of the transaction described in the Issuance Notice to the
extent necessary to obtain required governmental approvals and other required approvals and the Company and the Holder shall use reasonable best efforts to obtain such approvals. 
 7.4. Issuance of New Securities. If the Holder fails to exercise fully the rights provided under this Section 7 within the
periods described above, the Company shall be free to complete the proposed issuance or sale of the New Securities described in the Issuance Notice with respect to which the Holder failed to exercise the option set forth in this Section 7 on
terms no less favorable to the Company than those set forth in the Issuance Notice (except that the amount of securities to be issued or sold by the Company may be reduced); provided that (x) such issuance or sale is closed within 90 days after
the expiration of the 15-day period described in Section 7.3 and (y) the price at which the New Securities are transferred must be equal to or higher than the purchase price described in the Issuance Notice. Such periods within which such
issuance or sale must be closed shall be extended to the extent necessary to obtain required governmental approvals and other required approvals and the Company shall use reasonable best efforts to obtain such approvals. In the event that the
Company has not sold such New Securities within said 90-day period, the Company shall not thereafter issue or sell any New Securities, without first again offering to the Holder the opportunity to purchase a Preemptive Rights Warrant with respect to
such securities in the manner provided in this Section 7. The rights of the Holder set forth in this Section 7 shall terminate upon the consummation of a Qualified IPO. 
 8. Tag-Along Rights. In the event of a qualifying Transfer of Common Stock by certain stockholders of the Company as specified in
Section 3.4 of the Stockholders Agreement, the Holder, pursuant to Section 9(b) of the Registration Rights Agreement, shall be entitled to certain tag-along sale rights with respect to the Warrant Shares pursuant to the terms and subject
to the conditions set forth in the Stockholders Agreement and the Registration Rights Agreement (the “Tag-Along Rights”); provided, however, that in connection with a Tag-Along Closing, the Holder shall be obligated to
make or agree to only such customary representations, covenants, indemnities and agreements in connection with the Holder’s ownership of the Warrant and the Warrant Shares and authority to sell the Warrant Shares as the Transferring Stockholder
makes with respect to its shares of Common Stock and only so long as they are made severally and not jointly and the liabilities thereunder are borne only by the party making or agreeing to make such representations, covenants, indemnities and
agreements. Upon any exercise by the Holder of its Tag-Along Rights in accordance with the Stockholders Agreement and the Registration Rights Agreement, (i) the Warrant shall be deemed exercised immediately prior to the consummation of the
closing of the sale of Common Stock pursuant to such Tag-Along Rights (the “Tag-Along Closing”) to the extent of the Warrant Shares to be sold at such Tag-Along Closing and (ii) the Warrant Shares resulting from such exercise
shall be sold by the Holder at the Tag-Along Closing. Promptly following the Tag-Along Closing, the Holder shall (i) remit to the

  

 17 

 
Company the Exercise Price for such Warrant Shares and (ii) receive from the Company a new Warrant for the purchase of an aggregate number of Warrant Shares equal to the number of Warrant
Shares underlying the Warrant immediately prior to the Tag-Along Closing, minus the number of Warrant Shares sold by the Holder at the Tag-Along Closing. 
 9. Registration Rights Agreement. 
 9.1. Registration Rights
Agreement. The Warrant Shares are, and the Preemptive Rights Shares, if any, shall be subject to the restrictions set forth in and entitled to the benefits of the Registration Rights Agreement, dated as of the date hereof, among the Company,
CMH, the CD&R Investor, CDR F&F Jaguar Investor, LLC (“CD&R F&F Investor”), SNW Co., Inc. and the Purchaser (the “Registration Rights Agreement”). 
 9.2. Public Offering. Subject to the terms and conditions of the Registration Rights Agreement, in connection with a Liquidity Event
that is a Public Offering, following the Holder’s delivery of a Subscription Notice with respect thereto in accordance with Section 1.2 (the “Offering Notice”) and immediately prior to the consummation of the Public
Offering (the “Offering Closing”), or at such earlier time following delivery of the Offering Notice as may be required to comply with any underwriting agreement applicable to the sale of Common Stock pursuant to the Public
Offering, the Warrant will be deemed exercised in full (subject to the further provisions of this Section 9.2) and the Warrant Shares resulting from such exercise shall be offered for sale pursuant to the Public Offering. The terms and
conditions of the Public Offering and the Holder’s participation therein shall be governed by the Registration Rights Agreement. If, notwithstanding delivery of the Offering Notice, either (a) the Offering Closing is not consummated other
than as a result of any act or failure to act by the Holder or (b) the Holder is permitted only to sell a portion, and not all, of the Warrant Shares as a result of the cutback provisions of the Registration Rights Agreement, then the Warrant
shall not be deemed exercised with respect to the Warrant Shares not sold pursuant to such Public Offering and shall remain in full force and effect, subject to the terms and conditions set forth in this Warrant, with respect to such Warrant Shares.

 10. Availability of Information. The Company shall supply each holder of Warrant Shares with such information as may
reasonably be necessary for such holder to complete and file any information reporting forms presently or hereafter required by the Commission as a condition to the availability of an exemption from the Securities Act for the sale of any Warrant
Shares. 
 11. Reservation of Stock, etc. The Company shall at all times reserve and keep available, solely for issuance
and delivery upon exercise of the Warrant, the number of shares of Common Stock (or Other Securities) from time to time issuable upon exercise of the Warrant at the time outstanding. All shares of Common Stock (or Other Securities) shall be duly
authorized and, when issued upon such exercise, shall be validly issued and, in the case of shares, fully paid and nonassessable. 
  

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 12. Ownership, Transfer and Substitution of the Warrant. 
 12.1. Ownership of Warrant. The Company may treat the Person in whose name the Warrant, or any Warrant or Warrants issued in
substitution therefor, is registered on the register kept at the principal office of the Company as the owner and the Holder thereof for all purposes, notwithstanding any notice to the contrary, except that, if and when any Warrant is properly
assigned in blank, the Company may (but shall not be obligated to) treat the bearer thereof as the owner of such Warrant for all purposes, notwithstanding any notice to the contrary. Subject to Section 5, a Warrant, if properly assigned, may be
exercised by a new Holder without first having a new Warrant issued. 
 12.2. Transfer and Exchange of the Warrant.
Subject to compliance with Section 5, upon the surrender of the Warrant, properly endorsed, for registration of Transfer or for exchange at the principal office of the Company, the Company at its expense shall execute and deliver to or upon the
order of the Holder thereof a new Warrant or Warrants of like tenor, in the name of such Holder or as such Holder (upon payment by such Holder of any applicable Transfer taxes) may direct, providing for the same number of underlying Warrant Shares
as provided for under the Warrant or Warrants so surrendered. 
 12.3. Division and Combination of the Warrant. Subject
to compliance with Section 5, the Warrant may be divided or combined with other Warrants upon presentation thereof at the principal office of the Company, together with a written notice specifying the name or names and denomination or
denominations in which a new Warrant or Warrants are to be issued, signed by the Holder or by the duly appointed legal representative thereof. Subject to compliance with Section 5, as to any transfer which may be involved in such division or
combination, the Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants to be divided or combined in accordance with such notice. 
 12.4. Replacement of the Warrant. Upon receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or
mutilation of any Warrant and, in the case of any such loss, theft or destruction of any Warrant, upon delivery of indemnity reasonably satisfactory to the Company in form and amount or, in the case of any such mutilation, upon surrender of such
Warrant for cancellation at the principal office of the Company, the Company at its expense shall execute and deliver, in lieu thereof, a new Warrant of like tenor. 
 13. Definitions. As used herein, unless the context otherwise requires, the following terms have the following respective meanings: 
 Acceptable Offer: the meaning specified in Section 1.1(b)(iv). 
 Acceptance Notice: the meaning specified in Section 1.1(b)(ii). 
 Adjustment Event: the meaning specified in Section 2.5(f). 
 Affiliate: with respect to any Person, any other Person directly or indirectly controlling, controlled by or under common control
with, such Person. For purposes of this Warrant, any Affiliate of a Johnson Family Member or SCJ shall be an Affiliate of CMH. 
  

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 Applicable Law: (a) all applicable and binding international, foreign, federal,
European Union, national, supranational, state, regional or local laws, statutes and subordinate legislation, directives, rules, regulations, ordinances, zoning, building or other similar restrictions, orders, decisions, judgments or decrees,
regulatory agreements or regulatory orders, (b) the common law and (c) the rules and regulations of any United States or foreign securities exchange. 
 Applicable Percentage: the meaning specified in Section 5.2(a). 
 Applicable Portion: the meaning specified in Section 5.2(a). 
 Asset Value: the meaning specified
in Section 2.5(a). 
 Assets: the meaning specified in Section 2.3. 
 Beneficially Own or Beneficial Ownership: with respect to any securities, “beneficial ownership” of such securities,
as determined pursuant to Rule 13d-3 under the Exchange Act, including pursuant to any agreement, arrangement or understanding, whether or not in writing. 
 Business Day: a day other than a Saturday or Sunday or other day on which commercial banking institutions in New York City are authorized by law to be closed. 
 Call Closing: the meaning specified in Section 6.4(a). 
 Call Closing Date: the meaning specified in Section 6.4(a). 
 Call Notice: the meaning specified in Section 6.1(a). 
 Call Option: the meaning specified in Section 6.1(a). 
 Call Price: the meaning specified in Section 6.2(a). 
 Calling Party: the meaning specified in Section 6.1(a). 
 Capital Stock: (a) in the case of a corporation, corporate stock; (b) in the case of an association or business entity, any
and all shares, interests, participations, rights or other equivalents (however designated) of corporate stock; (c) in the case of a partnership or limited liability company, partnership or membership interests (whether general or limited); and
(d) any other interest or participation that confers on a Person the right to receive a share of the profits and losses of, or distributions of assets of, the issuing Person. 
 CD&R F&F Investor: the meaning specified in Section 9.1. 
 CD&R Group: CD&R Investor, CD&R F&F Investor and their respective Affiliates and the respective Affiliates from time
to time of CD&R Associates VIII, Ltd., the general partner of Clayton, Dubilier & Rice Fund VIII, L.P. and CD&R Friends & Family Fund VIII, L.P., and Clayton, Dubilier & Rice, LLC or any successor to its investment
management business. 
  

 20 

 CD&R Investor: the meaning specified in Section 5.2(a). 
 Change of Control: the occurrence of any of the following: 
 (1) the sale, conveyance, transfer or other disposition (other than by way of merger, amalgamation or consolidation) of all or substantially
all of the properties or assets of the Company and its Subsidiaries, taken as a whole, to any “person” (as such term is used in Section 13(d)(3) of the Exchange Act), other than any member of the Johnson Family Group or the CD&R
Group, shall have occurred; 
 (2) the adoption of a plan relating to the liquidation or dissolution of either of the Company or
JDI; 
 (3) any “person” (as such term is used in Section 13(d)(3) of the Exchange Act), other than any member of
the Johnson Family Group or the CD&R Group, becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act) of more than 50% of the total voting power of all classes of the Voting Stock of the Company or JDI,
calculated on a fully diluted basis; or 
 (4) the merger, amalgamation or consolidation of the Company or JDI, as applicable,
with or into another Person or the merger of another Person with or into the Company or JDI, as applicable (each, a “Business Combination”), shall have occurred, and the securities of the Company or JDI, as applicable, that are
outstanding immediately prior to such transaction and which represent 100% of the aggregate voting power of the Voting Stock of the Company or JDI, as applicable, are changed into or exchanged for cash, securities or property, unless pursuant to
such transaction such securities (a) are changed into or exchanged for, in addition to any other consideration, securities of the corporation or entity resulting from such Business Combination (including an entity which as a result of the
Business Combination owns the Company or JDI, as applicable, either directly or through one or more Subsidiaries), and (b) represent immediately after giving effect to such transaction, greater than 50% of the outstanding Voting Stock of the
corporation or entity resulting from such Business Combination (including an entity which as a result of the Business Combination owns the Company or JDI, as applicable, either directly or through one or more Subsidiaries). 
 Closing Date: the meaning specified in the second paragraph of the Warrant. 
 CMH: the meaning specified in the second paragraph of the Warrant. 
 CMH Offer: the meaning specified in Section 1.1(b)(i). 
 Commission: the Securities and Exchange Commission or any other Federal agency at the time administering the Securities Act or the
Exchange Act, whichever is the relevant statute for the particular purpose. 
 Common Stock: the Class A common
stock of the Company, par value $0.01 per share, as constituted on the date hereof, any stock into which such Common Stock shall have been changed or any stock resulting from any reclassification of such Common Stock. 
  

 21 

 Company: the meaning specified in the first paragraph of the Warrant. 
 Conopco: the meaning specified in the second paragraph of the Warrant. 
 Counter-Offer: the meaning specified in Section 1.1(b)(vi). 
 Counter-Offer Period: the meaning specified in Section 1.1(b)(vi). 
 Drag-Along Closing: the meaning specified in Section 5.2(a). 
 Drag-Along Notice: the meaning specified in Section 5.2(a). 
 Drag-Along Offer: the meaning specified in Section 5.2(a). 
 Drag-Along Participants: the meaning specified in Section 5.2(b). 
 Drag-Along Price: the meaning specified in Section 5.2(a). 
 Drag-Along Transaction: a sale of Common Stock to a Third Party Buyer by the Drag-Along Transferor and, potentially, other
stockholders of the Company, as to which the Drag-Along Transferor has given a Drag-Along Notice to the Holder in accordance with Section 5.2(a). 
 Drag-Along Transferor: the meaning specified in Section 5.2(a). 
 Drag Transaction: the meaning specified in the Stockholders Agreement. 
 Equity Purchase Assignee: the
meaning specified in the Stockholders Agreement. 
 Equity Securities: any and all shares of Common Stock or other equity
securities of the Company, securities of the Company convertible into, or exchangeable or exercisable for, such shares, and options, warrants or other rights to acquire such shares of Common Stock or other equity securities. 
 Exchange Act: the Securities Exchange Act of 1934, as amended, or any successor Federal statute and the rules and regulations
thereunder, which shall be in effect at the time. Any reference to a particular section of the Securities Exchange Act of 1934 shall include a reference to the corresponding section, if any, of any such successor statute. 
 Exercise Period: the meaning specified in Section 1.1. 
 Exercise Price: the meaning specified in Section 1.2. 
 Fair Market Value: the meaning specified in Section 2.5(b). 
 Financial Expert: the meaning specified in Section 2.5(a). 
 Financial Party: the meaning specified in the Stockholders Agreement. 
  

 22 

 Holder: the meaning specified in Section 1.1. 
 Holder Acceptance Period: the meaning specified in Section 1.1(b)(ii). 
 Holder Sale Transaction: the meaning specified in Section 1.1. 
 Initial Exercise Shares: the meaning specified in the second paragraph of the Warrant. 
 Issuance Notice: the meaning specified in Section 7.2. 
 JDI: the meaning specified in the second paragraph of the Warrant. 
 Johnson Family Group: CMH, the Johnson Family Members and their respective Affiliates from time to time (other than the Company and
any of its Subsidiaries). 
 Johnson Family Member: (a) a lawful lineal descendant of Herbert F. Johnson, Jr. or
Henrietta Johnson Louis or the spouse of any such person; (b) an estate, trust (including a revocable trust, declaration of trust or a voting trust), guardianship or custodianship for the primary benefit of one or more individuals described in
clause (a) above; (c) a foundation established by one or more individuals described in clause (a) above; and (d) a Person controlled by one or more individuals or entities described in clauses (a), (b) or (c) above;
provided, however, that for purposes of this Agreement, neither the Company nor any of its Subsidiaries from time to time shall be regarded as a Johnson Family Member. For the avoidance of doubt, SCJ and its Subsidiaries are, as of the
date hereof, Johnson Family Members. 
 Liquidity Event: a Public Offering, a Principal Stockholder Transfer or a Change
of Control. 
 New Securities: the meaning specified in the Stockholders Agreement. 
 Notice of Sale: the meaning specified in Section 1.1(b). 
 Notice of an Unacceptable Offer Negotiation: the meaning specified in Section 1.1(b)(v). 
 Offer Notice: the meaning specified in Section 1.1(b)(i). 
 Offer Period: the meaning specified in Section 1.1(b)(i). 
 Offering Closing: the meaning specified in Section 9.2. 
 Offering Notice: the meaning specified in Section 9.2. 
 Other Securities: any stock (other than Common Stock) and other securities of the Company or any other Person (corporate or
otherwise) which the Holder at any time shall be entitled to receive, or shall have received, upon the exercise of the Warrant, in lieu of or in addition to Common Stock, or which at any time shall be issuable or shall have been issued in exchange
for or in replacement of Common Stock or other securities pursuant to Section 2.4 or otherwise. 
  

 23 

 Permitted Transferee: the meaning specified in the Stockholders Agreement.

 Person: an individual, a partnership, a limited liability company, an association, a joint venture, a corporation, a
business, a trust, an unincorporated organization or a government or any department, agency or subdivision thereof. 
 Preemptive Rights Shares: the meaning specified in Section 7.1. 
 Preemptive Rights Warrant: the
meaning specified in Section 7.1. 
 Principal Stockholder Transfer: any Transfer of shares of Common Stock by CMH
or the CD&R Investor in respect of which the tag-along or drag-along provisions of Sections 3.4 or 3.5 of the Stockholders Agreement would apply. 
 Principal Stockholders: the meaning specified in the Stockholders Agreement. 
 Pro Rata Portion: on any date on which an allocation is made by the Company, the number or amount of New Securities equal to the product of (i) the total number or amount of New Securities to be issued by the Company on the
issuance date and (ii) the fraction determined by dividing (x) the number of Warrant Shares underlying the Warrant on the date on which such allocation is made by the Company by (y) the total number of shares of Common Stock
(determined on an as-converted basis with respect to any Equity Securities convertible into Common Stock) beneficially owned by the Holder and the Stockholders among whom the applicable allocation is being made on the date on which such allocation
is made by the Company. 
 Public Offering: any underwritten public offering of Common Stock led by one or more
underwriters at least one of which is of nationally recognized standing pursuant to an effective registration statement under the Securities Act. 
 Purchaser: the meaning specified in the first paragraph of the Warrant. 
 Qualified IPO: the meaning specified in the Stockholders Agreement. 
 Redemption Agreement: the meaning
specified in the second paragraph of the Warrant. 
 Registration Rights Agreement: the meaning specified in
Section 9.1. 
 Restricted Open Sale Period: the meaning specified in Section 1.1(b)(iii). 
 Restricted Securities: (i) any Warrants bearing the applicable legend set forth in Section 5.1(a), (ii) any shares of
Common Stock (or Other Securities) which have been issued upon the exercise of Warrants and which are evidenced by a certificate or certificates bearing the applicable legend set forth in Section 5.1(b), and (iii) unless the context
otherwise requires, any shares of Common Stock (or Other Securities) which are at the time issuable upon the exercise of the Warrants and which, when so issued, shall be evidenced by a certificate or certificates bearing the applicable legend set
forth in Section 5.1(b). 
  

 24 

 SCJ: S.C. Johnson & Son, Inc., a Wisconsin corporation. 
 Securities Act: the Securities Act of 1933, as amended, or any successor Federal statute, and the rules and regulations thereunder,
which shall be in effect at the time. Any reference to a particular section of the Securities Act of 1933 shall include a reference to the corresponding section, if any, of any such successor statute. 
 Stockholders: the meaning specified in the Stockholders Agreement. 
 Stockholders Agreement: the Stockholders Agreement, dated as of the date hereof, among the Company, CMH, SNW Co., Inc., CD&R
Investor and CD&R F&F Investor, as in effect on the Closing Date. 
 Subscription Notice: the meaning specified
in Section 1.2. 
 Subsidiary: as to any Person, any corporation at least a majority of the shares of stock of which
having general voting power under ordinary circumstances to elect a majority of the Board of Directors of such corporation (irrespective of whether or not at the time stock of any other class or classes shall have or might have voting power by
reason of the happening of any contingency) is, at the time as of which the determination is being made, owned by such Person, or one or more of its Subsidiaries or by such Person and one or more of its Subsidiaries. 
 Tag-Along Closing: the meaning specified in Section 8. 
 Tag-Along Rights: the meaning specified in Section 8. 
 Termination Date: the date on which a Liquidity Event is consummated. 
 Third Party Buyer: any Person who is not (i) an Affiliate of the CD&R Investor or (ii) an Affiliate of CMH. 

Transaction: the meaning specified in Section 2.4. 
 Transfer: unless the context otherwise requires, any sale, assignment, pledge or other disposition of any security, or of any
interest therein, which could constitute a “sale” as that term is defined in Section 2(3) of the Securities Act. 
 Transfer Notice: the meaning specified in Section 5.1(c). 
 Transferring Stockholder: the meaning
specified in the Stockholders Agreement. 
 Unacceptable Offer: the meaning specified in Section 1.1(b)(v).

 Unacceptable Offer Notice: the meaning specified in Section 1.1(b)(v). 
  

 25 

 Unilever Group: any of Unilever NV, Unilever PLC, or any of their respective
Affiliates with respect to which Unilever NV and/or Unilever PLC has Unilever Required Control. 
 Unilever NV: means
Unilever N.V., a company organized under the laws of The Netherlands. 
 Unilever PLC: means Unilever PLC, a company
organized under the laws of England and Wales. 
 Unilever Required Control: means, with respect to a Person,
(a) (i) if a corporation, the aggregate Beneficial Ownership by Unilever NV and/or Unilever PLC of securities representing at least 80% of the Voting Stock of such Person and (ii) if a Person other than a corporation, the aggregate
Beneficial Ownership by Unilever NV and/or Unilever PLC of at least 80% of the partnership or other similar voting interest, and (b) the right to elect a majority of such Person’s board of directors or comparable governing body.

 Voting Stock: of any Person as of any date means the Capital Stock of that Person that is at the time entitled to vote
in the election of the Board of Directors of such Person. 
 Warrant or Warrants: the meaning specified in the
second paragraph of the Warrant. 
 Warrant Price: the meaning specified in Section 2.1. 
 Warrant Shares: the meaning specified in Section 2.1. 
 14. Rights of Holders. Except as otherwise specifically required herein, holders of unexercised Warrants are not entitled (i) to
receive dividends or other distributions, (ii) to receive notice of or vote at any meeting of the stockholders of the Company, (iii) to consent to any action of the stockholders of the Company, (iv) to receive notice of any other
proceedings of the Company or (v) to exercise any other rights as stockholders of the Company. 
 15. Notices. All
notices, requests, demands, waivers and other communications required or permitted to be given under the Warrant, except notices of the exercise of any Warrant (which shall be effected in the manner provided in Section 1), shall be deemed to
have been duly given if (a) delivered personally, (b) mailed by certified or registered mail with postage prepaid, (c) sent by next-day or overnight mail or delivery by a nationally recognized overnight courier service, or
(d) sent by facsimile (with confirmation of transmission), as follows: 
 (a) if to the Purchaser, to it at: 
 Marga B.V. 
 c/o
Unilever N.V. 
 Weena 455 
 3013 AL Rotterdam 
 The Netherlands 
 Attention: General Counsel 
 Fax: +44.20.7822.6536 
  

 26 

 with a copy (which shall not constitute notice) to: 
 Cravath, Swaine & Moore LLP 
 Worldwide Plaza 
 825 Eighth Avenue 
 New York, NY 10019 
 Attention: Mark I. Greene, Esq. 
 Fax: (212) 474-3700 
 (b) if to any other Holder or any holder of any Common Stock (or Other Securities), at the registered address of such Holder or holder as
set forth in the register kept at the principal office of the Company, 
 (c) if to the Company, to it at: 
 JohnsonDiversey Holdings, Inc. 
 8310 16th Street 
 Sturtevant, WI 53177 
 Attention: General Counsel 
 Fax: (262) 631-4021 
 with a copy (which shall not constitute notice) to:

 Jones Day 
 77 West Wacker Drive 
 Chicago, IL 60601 
 Attention: Elizabeth C. Kitslaar, Esq. 
 Fax: (312) 782-8585 
 and 
 Clayton, Dubilier & Rice, Inc. 
 375 Park Avenue, 18th Floor 
 New York, New York 10152 
 Attention: Richard J. Schnall 
                   George K. Jaquette 
 Fax: (212) 407-5252 
 and 
 Debevoise & Plimpton LLP 
 919 Third Avenue 
 New York, New York 10022 
 Attention: Franci J. Blassberg, Esq. 
                   Jonathan E. Levitsky, Esq. 
 Fax: (212) 909-6836 
  

 27 

 (d) if to the CD&R Investor, to it at: 
 CDR Jaguar Investor Company, LLC 
 c/o Clayton, Dubilier & Rice, LLC 
 375 Park Avenue, 18th Floor

 New York, New York 10152 
 Attention: Richard J. Schnall 
                   George K. Jaquette 
 Fax: (212) 407-5252 
 with a copy (which shall not constitute notice) to:

 Debevoise & Plimpton LLP 
 919 Third Avenue 
 New York, New York 10022 
 Attention: Franci J. Blassberg, Esq. 
                   Jonathan E. Levitsky, Esq. 
 Fax: (212) 909-6836 
 (e) if to CMH, to it at: 
 Commercial Markets Holdco, Inc. 
 c/o Johnson-Keland Management, Inc. 
 555 Main Street, Suite 500 
 Racine, Wisconsin 53403-4616 
 Attention: President 
 Fax: (262) 260-6165 
 with a copy (which shall not constitute notice) to: 
 McDermott Will & Emery LLP 
 227 W. Monroe Street 
 Chicago, Illinois 60606 
 Attention: William J. Butler, Esq. 
                   Helen R. Friedli, Esq. 
 Fax: (312) 984-7700 
 16. Amendment. The Warrant and any term hereof may be changed, waived, discharged or terminated only by an instrument in writing signed by the party against which enforcement of such change, waiver, discharge or termination is
sought. 
 17. Successors and Assigns. All agreements of the Company and the Holder in this Warrant shall bind each of
their respective successors and permitted assigns. 
  

 28 

 18. Third Party Beneficiary. It is expressly agreed that each of the CD&R
Investor and CMH is a third party beneficiary of Section 5, 6 and 19 and shall be entitled to enforce such Sections against the Holder, the Company and each other to the same extent as if they were parties hereto. 
 19. Remedies. The Holder acknowledges that the Company, CMH and the CD&R Investor, as the case may be, would be irreparably
damaged in the event of a breach or a threatened breach by the Holder of any of its obligations under this Warrant (including, without limitation, its obligations under Sections 5, 6 and 19, and the provisions of the Warrant relating to the
timely exercise of the Warrant and the expiration of the exercise rights hereunder) and the Holder agrees that, in the event of a breach or a threatened breach by the Holder of any such obligation, the Company, CMH and/or the CD&R Investor, as
the case may be, shall, in addition to any other rights and remedies available to it in respect of such breach, be entitled to an injunction from a court of competent jurisdiction (without any requirement to post bond) granting it specific
performance by the Holder of its obligations under this Warrant (including, without limitation, its obligations under Sections 5, 6 and 19, and the provisions of the Warrant relating to the timely exercise of the Warrant and the expiration of
the exercise rights hereunder). The Company acknowledges that the Holder would be irreparably damaged in the event of a breach or a threatened breach by the Company of any of its obligations under this Warrant (including, without limitation, its
obligations under Sections 1 and 7) and the Company agrees that, in the event of a breach or a threatened breach by the Company of any such obligation, the Holder shall, in addition to any other rights and remedies available to it in respect of such
breach, be entitled to an injunction from a court of competent jurisdiction (without any requirement to post bond) granting it specific performance by the Company of its obligations under this Warrant (including, without limitation, its obligations
under Sections 1 and 7). 
 20. Waiver of Jury Trial. Each party hereto hereby waives, to the fullest extent permitted by
Applicable Law, any right it may have to a trial by jury in respect of any suit, action or other proceeding arising out of or relating to this Warrant. Each party hereto (a) certifies that no representative, agent or attorney of any other party
has represented, expressly or otherwise, that such party would not, in the event of any action, suit or proceeding, seek to enforce the foregoing waiver and (b) acknowledges that it and the other parties hereto have been induced to enter into
this Warrant by, among other things, the mutual waiver and certifications in this Section 20. 
 21. Severability.
If any term, provision, covenant or restriction of this Warrant is held by a court of competent jurisdiction or other authority to be invalid, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions of this Warrant
shall remain in full force and effect and shall in no way be affected, impaired or invalidated so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any party hereto.
Upon such a determination, the parties shall negotiate in good faith to modify this Warrant so as to effect the original intent of the parties as closely as possible in a mutually acceptable manner in order that the transactions contemplated hereby
be consummated as originally contemplated to the fullest extent possible. 
 22. Counterparts; Facsimile Signatures. This
Warrant may be executed in counterparts, all of which together shall constitute one and the same instrument. Signatures provided by facsimile or electronic transmission in “pdf” or equivalent format will be deemed to be original
signatures. 
  

 29 

 23. Miscellaneous. The section headings in this Warrant are for purposes of
convenience only and shall not constitute a part hereof. All references herein to “Sections” shall be deemed to be references to Sections hereof unless otherwise indicated. The words “hereof”, “herein”, and
“herewith” and words of similar import shall, unless otherwise stated, be construed to refer to this Warrant as a whole and not to any particular provision of this Warrant. The use of the words “or”, “either”, and
“any” in this Warrant shall not be exclusive. THE WARRANT SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK (WITHOUT GIVING EFFECT TO ITS PRINCIPLES OR RULES OF CONFLICT OF LAWS TO THE
EXTENT SUCH PRINCIPLES OR RULES WOULD REQUIRE OR PERMIT THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION). 
 [Remainder of
page intentionally left blank] 
  

 30 

			
	JOHNSONDIVERSEY HOLDINGS, INC.
		
	By: 	 	/s/     Joseph F. Smorada
		 	Name: Joseph F. Smorada
		 	 Title:   Executive Vice President and
             Chief Financial Officer

  

			
	Accepted and agreed to as of the date first above written:
	
	MARGA B.V.
		
	By: 	 	/s/    Robert Leek
		 	Name: Robert Leek
		 	Title:   General Counsel, Europe

  

 31 

 FORM OF SUBSCRIPTION 
 (To be executed only upon exercise of Warrant) 
 To: JohnsonDiversey
Holdings, Inc. 
 The undersigned registered holder of the within Warrant hereby irrevocably exercises such Warrant for, and
purchases thereunder,             * shares of Common Stock of JohnsonDiversey Holdings, Inc., and herewith makes payment of
$[            ] and requests that the certificates for such shares be issued in the name of, and delivered to
            , whose address is:
                                         
                                         
                                         
                                         
                                        .

 Dated:
                                 
  

			
	[Holder] **
	[Address]
		
	By:	 	 
		 	Name:
		 	Title:

  
  

	*	Insert here the number of shares for which the Warrant is being exercised, after making adjustment for any stock or other securities or property or cash which, pursuant
to the adjustment provisions of the Warrant, may be delivered upon exercise. 

	**	Signature must conform in all respects to name of holder as specified on the face of the Warrant. 

  

 32Registration Rights Agreement, dated as of November 24, 2009

 Exhibit 4.2 
  
  
  
 REGISTRATION RIGHTS AGREEMENT

 of 
 JOHNSONDIVERSEY HOLDINGS, INC. 
 dated as of November 24, 2009 

  
  
  

 TABLE OF CONTENTS 
  

							
	 	 	 	  	 	  	Page
	1.	 	Definitions	  	1
			
	2.	 	Incidental Registrations	  	6
				
		 	(a)	  	Right to Include Registrable Securities	  	6
				
		 	(b)	  	Priority in Incidental Registrations	  	7
				
	3.	 		  	Registration on Request	  	7
				
		 	(a)	  	Request by the Demand Party	  	7
				
		 	(b)	  	Priority on Demand Registration	  	8
				
		 	(c)	  	Cancellation of a Demand Registration	  	9
				
		 	(d)	  	Limitations on Demand Registrations	  	9
				
		 	(e)	  	Postponements in Requested Registrations	  	9
				
		 	(f)	  	Short-Form Registrations	  	10
				
		 	(g)	  	Shelf-Take Downs	  	11
				
		 	(h)	  	Registration Statement Form	  	12
				
		 	(i)	  	Selection of Underwriters	  	12
			
	4.	 	Registration Procedures	  	13
			
	5.	 	Indemnification	  	19
				
		 	(a)	  	Indemnification by the Company	  	19
				
		 	(b)	  	Indemnification by Holder of Registrable Securities	  	19
				
		 	(c)	  	Conduct of Indemnification Proceedings	  	20
				
		 	(d)	  	Contribution	  	21
				
		 	(e)	  	Deemed Underwriter	  	21
				
		 	(f)	  	Other Indemnification	  	22
				
		 	(g)	  	Non-Exclusivity	  	22
			
	6.	 	Registration Expenses	  	22

  

 -i- 

 TABLE OF CONTENTS 
 (continued) 
  

							
	 	 	 	  	 	  	Page
	7.	 	Rule 144	  	23
			
	8.	 	Certain Additional Agreements	  	23
			
	9.	 	Unilever Warrant	  	24
				
		 	(a)	  	Registration Rights	  	24
				
		 	(b)	  	Tag-Along Rights	  	24
			
	10.	 	Miscellaneous	  	24
				
		 	(a)	  	Termination	  	24
				
		 	(b)	  	Holdback Agreement	  	24
				
		 	(c)	  	Amendments and Waivers	  	25
				
		 	(d)	  	Successors, Assigns and Transferees	  	25
				
		 	(e)	  	Notices	  	26
				
		 	(f)	  	Further Assurances	  	28
				
		 	(g)	  	No Inconsistent Agreements	  	28
				
		 	(h)	  	Entire Agreement; No Third Party Beneficiaries	  	28
				
		 	(i)	  	Governing Law; Jurisdiction and Forum; Waiver of Jury Trial	  	29
				
		 	(j)	  	Severability	  	29
				
		 	(k)	  	Enforcement	  	29
				
		 	(l)	  	Titles and Subtitles	  	30
				
		 	(m)	  	No Recourse	  	30
				
		 	(n)	  	Counterparts; Facsimile Signatures	  	30

  

 -ii- 

 This REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is entered into as of
November 24, 2009, by and among JohnsonDiversey Holdings, Inc., a Delaware corporation (the “Company”), each of the stockholders of the Company whose name appears on the signature pages hereof and any Person who becomes a party
hereto pursuant to Section 10(d) (such Persons each referred to individually as a “Stockholder” and collectively, the “Stockholders”). Capitalized terms used herein shall have the meaning assigned to such terms
in the text of this Agreement or in Section 1. 
 WHEREAS, the Company, CDR Jaguar Investor Company, LLC (“CD&R
Investor”), Commercial Markets Holdco, Inc. (“CMH”) and SNW Co., Inc. (“SNW”) have entered into the Investment and Recapitalization Agreement, dated as of October 7, 2009 (as such agreement may be
amended from time to time, the “Investment Agreement”), pursuant to which (i) CD&R Investor and CDR F&F Jaguar Investor, LLC (“CD&R F&F Investor”, and together with CD&R Investor, the
“CD&R Investor Parties”), purchased and acquired from the Company, and the Company issued and sold to the CD&R Investor Parties, an aggregate of 47,700,000 shares of New Class A Common Stock, representing 45.9% of all
of the issued and outstanding shares of the Company’s capital stock assuming the exercise of the Unilever Warrant, (ii) all the shares of the Company’s former Class A common stock owned by CMH were reclassified into newly
issued shares of New Class A Common Stock, representing 49.1474% of all of the issued and outstanding shares of the Company’s capital stock assuming the exercise of the Unilever Warrant and (iii) SNW purchased and acquired from
the Company, and the Company issued and sold to SNW, 990,000 shares of New Class A Common Stock, representing 0.9526% of all of the issued and outstanding shares of the Company’s capital stock assuming the exercise of the Unilever Warrant;

 WHEREAS, the Company, JohnsonDiversey, Inc. (“JDI”), CMH, Unilever N.V. (“Unilever”), Marga
B.V. (“Marga”) and Conopco, Inc. (“Conopco”) have entered into the Redemption Agreement, dated as of October 7, 2009 (as amended by Amendment No. 1 thereto, dated as of November 20, 2009, by and among
the Company, JDI, CMH, Unilever, Marga and Conopco, and as such agreement may be further amended from time to time, the “Redemption Agreement”), pursuant to which the Company has purchased from Marga the Old Class B Common
Stock, in consideration for which Marga received cash and the Unilever Warrant to purchase shares of New Class A Common Stock representing 4.0% of all of the issued and outstanding shares of the Company’s capital stock assuming the
exercise of the Unilever Warrant; and 
 WHEREAS, the Company desires to provide to the Stockholders rights to registration
under the Securities Act of Registrable Securities, on the terms and subject to the conditions set forth herein. 
 NOW,
THEREFORE, in consideration of the foregoing recitals and of the mutual promises hereinafter set forth, the parties hereto agree as follows: 
 AGREEMENT 
 1. Definitions. As used in this Agreement, the following
capitalized terms shall have the following respective meanings: 
 “Affiliate” has the meaning
given to such term in the Stockholders Agreement. 

 “Agreement” has the meaning given to such term in the
Preamble. 
 “Automatic Shelf Registration Statement” has the meaning given to such term in
Section 3(f)(iii). 
 “Board” means the Board of Directors of the Company. 
 “Business Day” means any day that is not a Saturday, a Sunday or other day on which banks are required or
authorized by law to be closed in New York City. 
 “CD&R F&F Investor” has the meaning
given to such term in the Recitals. 
 “CD&R Indemnification Agreement” has the meaning
given to such term in the Stockholders Agreement. 
 “CD&R Investor” has the meaning given
to such term in the Recitals. 
 “CD&R Investor Parties” has the meaning given to such term
in the Recitals. 
 “Charter” means the Amended and Restated Certificate of Incorporation of the
Company filed with the Secretary of State of the State of Delaware on or about the date hereof as contemplated by the Investment Agreement. 
 “Closing” has the meaning given to such term in the Stockholders Agreement. 
 “CMH” has the meaning given to such term in the Recitals. 
 “CMH Indemnification Agreement” has the meaning given to such term in the Stockholders Agreement. 
 “Common Stock” means the New Class A Common Stock and the New Class B Common Stock, including any shares of capital stock into which the New Class A Common Stock and the New
Class B Common Stock may be converted (as a result of recapitalization, share exchange or similar event) or are issued including, without limitation, with respect to any stock split or stock dividend, or a successor security. 
 “Company” has the meaning given to such term in the Preamble. 
 “Conopco” has the meaning given to such term in the Recitals. 
 “Consulting Agreement” has the meaning given to such term in the Stockholders Agreement. 
 “Covered Person” has the meaning given to such term in Section 5(a). 
 “Demand Follow-Up Notice” has the meaning given to such term in Section 3(a). 
  

 2 

 “Demand Notice” has the meaning given to such term in
Section 3(a). 
 “Demand Registration” has the meaning given to such term in
Section 3(a). 
 “Equity Securities” has the meaning given to such term in the Stockholders
Agreement. 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended, and any
successor statute thereto and the rules and regulations of the SEC promulgated thereunder. 
 “FINRA” means the Financial Industry Regulatory Authority. 
 “Free Writing
Prospectus” has the meaning given to such term in Section 4(a). 
 “Holdback
Period” means, with respect to an IPO and any other registered offering covered by this Agreement 90 days after and during the 10 days before, the effective date of the related Registration Statement or, in the case of a takedown from a
shelf registration statement, 90 days after the date of the Prospectus supplement filed with the SEC in connection with such takedown and during such prior period (not to exceed 10 days) as the Company has given reasonable written notice to the
Holder of Registrable Securities. 
 “Holder” means each of the Stockholders, any other Person
entitled to incidental or piggyback registration rights pursuant to an agreement with the Company and any direct or indirect transferee of a Stockholder who has acquired Registrable Securities from a Stockholder not in violation of the Stockholders
Agreement and who agrees in writing to be bound by the provisions of this Agreement. 
 “Indemnified
Party” has the meaning given to such term in Section 5(c). 
 “Indemnifying Party”
has the meaning given to such term in Section 5(c). 
 “Investment Agreement” has the
meaning given to such term in the Recitals. 
 “IPO” means the initial public offering of Common
Stock pursuant to an effective Registration Statement under the Securities Act. 
 “JDI” has the
meaning given to such terms in the Recitals. 
 “Losses” has the meaning given to such term in
Section 5(a). 
 “Marga” has the meaning given to such term in the Recitals. 
 “New Class A Common Stock” means the Class A common shares, par value $0.01 per share, of the
Company. 
 “New Class B Common Stock” means the Class B common shares, par value $0.01 per
share, of the Company. 
  

 3 

 “Offering Notice” has the meaning given to such term in the
Unilever Warrant. 
 “Old Class B Common Stock” means the 1,960 shares of Class B common
stock, par value $0.01 per share, of the Company, all of which was held by Marga prior to the consummation of the transactions contemplated by the Redemption Agreement. 
 “Permitted Transferee” has the meaning given to such term in the Stockholders Agreement. 
 “Person” means any individual, partnership, joint venture, corporation, limited liability company, trust,
unincorporated organization, government or any department or agency thereof or any other entity. 
 “Preemptive Rights Warrant” has the meaning given to such term in the Unilever Warrant. 
 “Principal Stockholder” has the meaning given to such term in the Stockholders Agreement; provided, that a Holder shall cease to be a Principal Stockholder for purposes of this Agreement if and for so long as such
Holder, together with its Permitted Transferees, fails to own, in the aggregate, at least 5% of the issued and outstanding shares of Common Stock. 
 “Prospectus” means the prospectus included in any Registration Statement (including, without limitation, a prospectus that discloses information previously omitted from a prospectus filed
as part of an effective Registration Statement in reliance upon Rule 430A promulgated under the Securities Act), as amended or supplemented by any prospectus supplement, relating to Registrable Securities, and all other amendments and supplements to
the Prospectus, including post-effective amendments, and all material incorporated by reference or deemed to be incorporated by reference in such prospectus. 
 “Qualified IPO” has the meaning given to such term in the Stockholders Agreement. 
 “Redemption Agreement” has the meaning given to such term in the Recitals. 
 “Registrable Securities” means (a) any Common Stock held by a Holder and (b) any
equity securities or other equity interests issued or issuable, directly or indirectly, with respect to the securities described in clause (a) by way of conversion or exchange thereof or stock dividends, stock splits or in connection with a
combination of shares, reclassification, recapitalization, merger, consolidation or other reorganization. As to any particular Registrable Securities, once issued such securities shall cease to be Registrable Securities when (i) they are
disposed of pursuant to an effective Registration Statement under the Securities Act, (ii) they are sold to the public pursuant to Rule 144 or Rule 145 (or other exemption from registration under the Securities Act),
(iii) they shall have ceased to be outstanding, or (iv) they have been sold in a private transaction in which the transferor’s rights under this Agreement are not assigned to the transferee of the securities. No
Registrable Securities may be registered under more than one Registration Statement at any one time. 
  

 4 

 “Registration Statement” means any registration statement
of the Company filed with the SEC under the Securities Act which covers any of the Registrable Securities pursuant to the provisions of this Agreement, including any Prospectus, Free Writing Prospectus, amendments and supplements to such
registration statement, including post-effective amendments, all exhibits and all material incorporated by reference or deemed to be incorporated by reference in such registration statement. 
 “Requisite Approval” has the meaning given to such term in Article SEVENTH of the Charter. 
 “Rule 144” means Rule 144 under the Securities Act, as such rule may be amended from time to time, or any
similar rule or regulation hereafter adopted by the SEC. 
 “Rule 145” means Rule 145 under the
Securities Act, as such rule may be amended from time to time, or any similar rule or regulation hereafter adopted by the SEC. 
 “Rule 405” means Rule 405 under the Securities Act, as such rule may be amended from time to time, or any similar rule or regulation hereafter adopted by the SEC. 
 “SEC” means the U.S. Securities and Exchange Commission or any other federal agency at the time
administering the Securities Act or the Exchange Act. 
 “Securities Act” means the Securities
Act of 1933, as amended, and any successor statute thereto and the rules and regulations of the SEC promulgated thereunder. 
 “Shelf Registration Statement” has the meaning given to such term in Section 3(f)(i). 
 “Shelf Underwritten Offering” has the meaning given to such term in Section 3(g). 
 “Short-Form Registration” has the meaning given to such term in Section 3(f)(i). 
 “SNW” has the meaning given to such term in the Recitals. 
 “Stockholder” and “Stockholders” have the meanings given to such terms in the Preamble. 
 “Stockholders Agreement” means the Stockholders Agreement, dated as of November 24, 2009 (as the same may be amended from time to time), among the Company, CD&R Investor,
CD&R F&F Investor, CMH, SNW and any other parties thereto from time to time in accordance with the terms thereof. 
 “Subsidiary” has the meaning given to such term in the Stockholders Agreement. 
  

 5 

 “Take-Down Notice” has the meaning given to such term in
Section 3(g). 
 “Transferring Stockholder” has the meaning given to such term in the
Stockholders Agreement. 
 “Unilever” has the meaning given to such term in the Recitals.

 “Unilever Warrant” the Class A Common Stock Purchase Warrant (as the same may be amended
from time to time) to be issued to Marga at the closing of the transactions contemplated by the Redemption Agreement. 
 “Warrant Shares” means the Warrant Shares and the Preemptive Rights Shares (if any), as each such term is defined in the Unilever Warrant. 
 “WKSI” has the meaning given to such term in Section 3(f)(iii). 
 2. Incidental Registrations. 
 (a) Right to Include Registrable Securities. If the Company determines to register its Common Stock under the Securities Act (other than pursuant to a Registration Statement filed by the Company on
Form S-4 or S-8, or any successor or other forms promulgated for similar purposes or filed in connection with an exchange offer or any employee benefit or dividend reinvestment plan), whether or not for sale for its own account, in a manner which
would permit registration of Registrable Securities for sale to the public under the Securities Act, it will, at each such time, give prompt written notice to all Holders of Registrable Securities of its intention to do so and of such Holders’
rights under this Section 2. Upon the written request of any such Holder made within 15 days after the receipt of any such notice (which request shall specify the Registrable Securities intended to be disposed of by such Holder and the intended
method or methods of disposition thereof), the Company will use its reasonable best efforts to effect the registration under the Securities Act of all Registrable Securities which the Company has been so requested to register by the Holders thereof,
to the extent required to permit the disposition of the Registrable Securities so to be registered; provided that (i) in the event that such registration shall be in connection with an IPO, unless such registration is pursuant to
Section 3, the Company may, at its election, not include Registrable Securities in such proposed registration if the Board shall have determined, after consultation with the managing underwriter(s) for such offering, that it is not in the best
interests of the Company to include any Registrable Securities in such registration, provided that, if the Board makes such a determination, the Company shall not include in such registration any securities not being sold for the account of
the Company, (ii) if, at any time after giving written notice of its intention to register any securities and prior to the effective date of the Registration Statement filed in connection with such registration, the Company shall
determine for any reason not to proceed with the proposed registration of the securities to be sold by it, the Company may, at its election, give written notice of such determination to each Holder of Registrable Securities and, thereupon, shall be
relieved of its obligation to register any Registrable Securities in connection with such registration (but not from its obligation to pay the expenses in connection therewith), and (iii) if such registration involves an underwritten
offering, all Holders of Registrable Securities requesting to be

  

 6 

 
included in the Company’s registration must sell their Registrable Securities to the underwriters selected by the Company on the same terms and conditions as apply to the Company, with such
differences, including any with respect to indemnification and liability insurance, as may be customary or appropriate in combined primary and secondary offerings. If a registration requested pursuant to this Section 2(a) involves an
underwritten public offering, any Holder of Registrable Securities requesting to be included in such registration may elect, in writing at least two Business Days prior to the effective date of the Registration Statement filed in connection with
such registration, to withdraw its request to register such securities in connection with such registration. The Company shall not be required to maintain the effectiveness of the Registration Statement for a registration requested pursuant to this
Section 2(a) beyond the earlier to occur of (i) 180 days after the effective date thereof and (ii) consummation of the distribution by the Holders of the Registrable Securities included in such Registration Statement.
Any Holder of Registrable Securities who has elected to sell Registrable Securities in an underwritten offering pursuant to this Section 2 shall be permitted to withdraw from such registration (other than a registration that involves an IPO) by
written notice to the Company if the price to the public at which the Registrable Securities are proposed to be sold will be less than 90% of the average closing price of the class of stock being sold in the offering during the 10 trading days
preceding the date on which the Demand Notice of such offering was given pursuant to this Section 2(a). 
 (b) Priority in Incidental Registrations. The Company shall use reasonable efforts to cause the managing underwriter(s) of a proposed underwritten offering to permit Holders of Registrable Securities who have requested to include
Registrable Securities in such offering to include in such offering all Registrable Securities so requested to be included on the same terms and conditions as any other shares of capital stock, if any, of the Company included in the offering.
Notwithstanding the foregoing, if the managing underwriter(s) of such underwritten offering have informed the Company that in its good faith opinion the total number or dollar amount of securities that such Holders and the Company intend to include
in such offering is such as to adversely affect the success of such offering (including, without limitation, adversely affect the per share offering price), then the amount of securities to be offered for the account of Holders of Registrable
Securities (other than the Company) shall be reduced to the extent necessary to reduce the total amount of securities to be included in such offering to the amount recommended in the good faith opinion of such managing underwriter(s) by first
reducing, or eliminating if necessary, all securities of the Company requested to be included by the Holders of Registrable Securities requesting such registration pro rata among such Holders on the basis of the percentage of the Registrable
Securities requested to be included in such registration by such Holders. 
 3. Registration on Request. 
 (a) Request by the Demand Party. Subject to Section 3(d), (i) following the fourth anniversary of the
Closing, each Principal Stockholder shall have the right to request that the Company conduct a Qualified IPO pursuant to and as provided in Section 3.7 of the Stockholders Agreement and (ii) following an IPO, each Principal
Stockholder shall have the right to require the Company to register, pursuant to the terms of this Agreement, under and in accordance with the provisions of the Securities Act, the number of Registrable Securities of such Principal Stockholder and
its Affiliates requested to be so registered pursuant to this Agreement, in each case by delivering written notice to the Company (any such written notice, a “Demand Notice” and

  

 7 

 
any such registration, a “Demand Registration”). Subject to Section 3(d), following receipt of a Demand Notice for a Demand Registration in accordance with this
Section 3(a), the Company shall use its reasonable best efforts to file a Registration Statement as promptly as practicable, but no later than 45 days in the case of a Demand Notice for an IPO and 30 days in the case of any other Demand Notice,
and to cause such Registration Statement to be declared effective under the Securities Act as promptly as practicable after the filing thereof. 
 No Demand Registration shall be deemed to have occurred for purposes of the first sentence of the preceding paragraph if (i) the Registration Statement relating thereto (x) does
not become effective, (y) is not maintained effective for the period required pursuant to this Section 3, or (z) the offering of the Registrable Securities pursuant to such Registration Statement is subject to a stop
order, injunction, or similar order or requirement of the SEC during such period, (ii) more than 80% of the Registrable Securities requested by the demanding Principal Stockholder to be included in such registration are not so included
pursuant to Section 3(b) or (iii) the conditions to closing specified in any underwriting agreement, purchase agreement or similar agreement entered into in connection with the registration relating to such request are not satisfied
(other than as a result of a material default or breach thereunder by such demanding Principal Stockholder or its Affiliates) or otherwise waived by such Principal Stockholder. 
 Within 10 days after receipt by the Company of a Demand Notice in accordance with this Section 3(a), the Company shall give written
notice (the “Demand Follow-Up Notice”) of such Demand Notice to all other Holders of Registrable Securities and shall, subject to the provisions of Section 3(b) hereof, include in such registration all Registrable Securities
with respect to which the Company received written requests for inclusion therein within 15 days after such Demand Follow-Up Notice is given by the Company to such Holders. 
 All requests made pursuant to this Section 3 will specify the number of Registrable Securities to be registered and/or, in the case of
a Qualified IPO, the number of shares of Common Stock (if any) to be issued, and the intended method or methods of disposition thereof. 
 The Company shall be required to maintain the effectiveness of the Registration Statement with respect to any Demand Registration for a period of at least 180 days after the effective date thereof or such
shorter period during which all Registrable Securities included in such Registration Statement have actually been sold; provided, however, that such period shall be extended for a period of time equal to the period the Holder of
Registrable Securities refrains from selling any securities included in such Registration Statement at the request of the Company or an underwriter of the Company pursuant to the provisions of this Agreement. 
 (b) Priority on Demand Registration. If any of the Registrable Securities registered pursuant to a Demand Registration
are to be sold in a firm commitment underwritten offering, and the managing underwriter(s) advise the Holders of such securities that in its good faith opinion the total number or dollar amount of Registrable Securities proposed to be sold in such
offering (including, without limitation, securities proposed to be included by other Holders of securities entitled to include securities in such Registration Statement pursuant to incidental or piggyback registration rights), is such as to
adversely affect the success of such offering, then there shall be included in such firm commitment underwritten offering the number or dollar amount of

  

 8 

 
Registrable Securities that in the good faith opinion of such managing underwriter(s) can be sold without adversely affecting such offering, and such number of Registrable Securities shall be
allocated as follows, unless the underwriters require a different allocation: 
 (i) first, among the Holders of
Registrable Securities requesting such registration (whether pursuant to a Demand Notice or pursuant to incidental or piggyback registration rights) pro rata on the basis of the percentage of Registrable Securities owned by each such Holder
relative to the number of Registrable Securities owned by all such Holders until, with respect to each Holder, all Registrable Securities requested for registration by such Holders have been included in such registration; and 
 (ii) second, the securities for which inclusion in such Demand Registration was requested by the Company. 
 (c) Cancellation of a Demand Registration. Holders of a majority of the Registrable Securities which are to be
registered in a particular offering pursuant to this Section 3 shall have the right, prior to the effectiveness of the Registration Statement, to notify the Company that they have determined that the Registration Statement be abandoned or
withdrawn, in which event the Company shall abandon or withdraw such Registration Statement. Any Holder of Registrable Securities who has elected to sell Registrable Securities in an underwritten offering (other than an IPO) pursuant to this
Section 3 (including the Holder who delivered the Demand Notice of such registration) shall be permitted to withdraw from such registration by written notice to the Company if the price to the public at which the Registrable Securities are
proposed to be sold will be less than 90% of the average closing price of the class of stock being sold in the offering during the 10 trading days preceding the date on which the Demand Notice of such offering was given pursuant to
Section 3(a). 
 (d) Limitations on Demand Registrations. Each Principal Stockholder shall be
entitled to initiate no more than 5 Demand Registrations (other than Short-Form Registrations); provided, however, that (i) in respect of 3 out of 5 such Demand Registrations as to which each Principal Stockholder is
entitled under this Agreement, the Company shall not be obligated to effect a Demand Registration unless the amount of Registrable Securities requested to be registered by the demanding Principal Stockholder is reasonably expected to result in
aggregate gross proceeds (prior to deducting underwriting discounts and commission and offering expenses) of at least $75 million or such lower amount as agreed to by the other Principal Stockholders and (ii) the Company shall not be
obligated to effect a Demand Registration (other than Short Form Registrations) during the four-month period following the effective date of a Registration Statement pursuant to any other Demand Registration. 
 (e) Postponements in Requested Registrations. If the filing, initial effectiveness or continued use of a Registration
Statement, including a Shelf Registration Statement, with respect to a Demand Registration would require the Company to make a public disclosure of material non-public information, which disclosure in the good faith judgment of the Board (after
consultation with external legal counsel) (i) would be required to be made in any Registration Statement so that such Registration Statement would not be materially misleading, (ii) would not be required to be made at such
time but for the filing, effectiveness or continued use of such Registration Statement or (iii) would reasonably be expected to have a material adverse

  

 9 

 
effect on the Company or its business or on the Company’s ability to effect a bona fide material proposed acquisition, disposition, financing, reorganization, recapitalization or similar
transaction, then the Company may, upon giving prompt written notice of such action to the Holders participating in such registration, delay the filing or initial effectiveness of, or suspend use of, such Registration Statement; provided,
that the Company shall not be permitted to do so (x) more than once in any 6-month period or (y) for any single period of time in excess of 60 days, or for periods exceeding, in the aggregate, 90 days during any 12-month
period. In the event that the Company exercises its rights under the preceding sentence, such Holders agree to suspend, promptly upon receipt of the notice referred to above, the use of any Prospectus relating to such registration in connection with
any sale or offer to sell Registrable Securities. If the Company so postpones the filing of a Prospectus or the effectiveness of a Registration Statement, the demanding Principal Stockholder shall be entitled to withdraw such request and, if such
request is withdrawn, such registration request shall not count for the purposes of the limitations set forth in Section 3(d). The Company shall promptly give the Holders requesting registration thereof pursuant to this Section 3 written
notice of any postponement made in accordance with the preceding sentence. 
 (f) Short-Form
Registrations. 
 (i) At all times following an IPO, the Company shall use its reasonable best efforts to
qualify for registration on Form S-3 or any comparable or successor form or forms or any similar short-form registration (a “Short-Form Registration”), and, if requested by a Principal Stockholder and available to the Company, such
Short-Form Registration shall be a “shelf” registration statement providing for the registration of, and the sale on a continuous or delayed basis of, the Registrable Securities, pursuant to Rule 415 or otherwise (a “Shelf
Registration Statement”). At any time and from time to time following an IPO, a Principal Stockholder shall be entitled to request an unlimited number of Short-Form Registrations, if available to the Company, with respect to the Registrable
Securities held by such Principal Stockholder and its Affiliates in addition to the other registration rights provided in Section 2 and this Section 3, provided, that the Company shall not be obligated to effect any registration
pursuant to this Section 3(f)(i), (A) within 90 days after the effective date of any Registration Statement of the Company hereunder and (B) unless the amount of Registrable Securities requested to be registered by such
Principal Stockholder and its Affiliates Holders is reasonably expected to result in aggregate gross proceeds (prior to deducting underwriting discounts and commissions and offering expenses) of at least $35 million or such lower amount as agreed to
by the other Principal Stockholder. In no event shall the Company be obligated to effect any shelf registration other than pursuant to a Short-Form Registration. If any Demand Registration is proposed by a Principal Stockholder to be a Short-Form
Registration and an underwritten offering, and if the managing underwriter(s) shall advise the Company and the Holders that, in its good faith opinion, it is of material importance to the success of such proposed offering to file a registration
statement on Form S-1 (or any successor or similar registration statement) or to include in such registration statement information not required to be included in a Short-Form Registration, then the Company shall file a registration statement on
Form S-1 or supplement the Short-Form Registration as reasonably requested by such managing underwriter(s). No such registration nor any other Short-Form Registration shall count as a “Demand Registration” for purposes of
calculating how many “Demand Registrations” a Principal Stockholder has initiated or the provisions of Section 3(d). 
  

 10 

 (ii) Upon filing any Short-Form Registration, the Company shall use its
reasonable best efforts to keep such Short-Form Registration effective with the SEC at all times and to re-file such Short-Form Registration upon its expiration, and to cooperate in any shelf take-down, whether or not underwritten, by amending or
supplementing the Prospectus related to such Short-Form Registration as may be reasonably requested by a Principal Stockholder or as otherwise required, until such time as all Registrable Securities that could be sold in such Short-Form Registration
have been sold or are no longer outstanding. 
 (iii) To the extent the Company is a well-known seasoned issuer
(as defined in Rule 405) (a “WKSI”) at the time any Demand Notice for a Short-Form Registration is submitted to the Company and such Demand Notice requests that the Company file a Shelf Registration Statement, the Company shall file
an automatic shelf registration statement (as defined in Rule 405) on Form S-3 (an “Automatic Shelf Registration Statement”) in accordance with the requirements of the Securities Act and the rules and regulations of the SEC
thereunder, which covers those Registrable Securities which are requested to be registered. The Company shall pay the registration fee for all Registrable Securities to be registered pursuant to an Automatic Shelf Registration Statement at the time
of filing of the Automatic Shelf Registration Statement and shall not elect to pay any portion of the registration fee on a deferred basis. The Company shall use its reasonable best efforts to remain a WKSI (and not to become an ineligible issuer
(as defined in Rule 405)) during the period during which any Automatic Shelf Registration Statement is effective. If at any time following the filing of an Automatic Shelf Registration Statement when the Company is required to re-evaluate its WKSI
status the Company determines that it is not a WKSI, the Company shall use its reasonable best efforts to post-effectively amend the Automatic Shelf Registration Statement to a Shelf Registration Statement on Form S-3 or file a new Shelf
Registration Statement on Form S-3 or, if such form is not available, Form S-1, have such Shelf Registration Statement declared effective by the SEC and keep such Registration Statement effective during the period during which such Short-Form
Registration is required to be kept effective in accordance with Section 3(f)(ii). 
 (g) Shelf-Take
Downs. At any time that a Shelf Registration Statement covering Registrable Securities is effective, if any Principal Stockholder delivers a notice to the Company (a “Take-Down Notice”) stating that it intends to effect an
underwritten offering of all or part of its Registrable Securities included by it on the shelf registration statement (a “Shelf Underwritten Offering”), then the Company shall amend or supplement the shelf registration statement as
may be necessary in order to enable such Registrable Securities to be distributed pursuant to the Shelf Underwritten Offering (taking into account the inclusion of Registrable Securities by any other Holders pursuant to Section 3(b)). In
connection with any Shelf Underwritten Offering: 
 (i) such proposing Principal Stockholder shall also deliver
the Take-Down Notice to all other Holders included on such shelf registration statement and permit each Holder to include its Registrable Securities included on the shelf registration statement in the Shelf Underwritten Offering if such Holder
notifies the proposing Principal Stockholder and the Company within five Business Days after delivery of the Take-Down Notice to such Holder; and 
  

 11 

 (ii) in the event that the underwriter advises such proposing Principal
Stockholder and the Company in its good faith opinion that the total number or dollar amount of Registrable Securities proposed to be sold in such offering is such as to adversely affect the success of such offering (including, without limitation,
adversely affect the per share offering price), then the underwriter may limit the number of shares which would otherwise be included in such take-down offering in the same manner as described in Section 3(b) with respect to a limitation of
shares to be included in a registration. 
 (h) Registration Statement Form. If any registration requested
pursuant to this Section 3 which is proposed by the Company to be effected by the filing of a Registration Statement on Form S-3 (or any successor or similar short-form registration statement) shall be in connection with an underwritten public
offering, and if the managing underwriter(s) shall advise the Company that, in its good faith opinion, the use of another form of Registration Statement is of material importance to the success of such proposed offering or is otherwise required by
applicable law, then such registration shall be effected on such other form. 
 (i) Selection of
Underwriters. If a Principal Stockholder intends that the Registrable Securities requested to be covered by a Demand Registration shall be distributed by means of an underwritten offering, such Principal Stockholder shall so advise the Company
as a part of the Demand Notice, and the Company shall include such information in the Notice sent by the Company to the other Holders with respect to such Demand Registration. In such event, the lead underwriter to administer the offering shall be
chosen by such Principal Stockholder, subject to the prior written consent, not to be unreasonably withheld or delayed, of the Company. If the offering is underwritten, the right of any Holder to registration pursuant to this Section 3 will be
conditioned upon such Holder’s participation in such underwriting and the inclusion of such Holder’s Registrable Securities in the underwriting (unless otherwise agreed by the demanding Principal Stockholder) and each such Holder will
(together with the Company and the other Holders distributing their securities through such underwriting) enter into an underwriting agreement in customary form with the underwriter(s) selected for such underwriting (including, without limitation,
pursuant to the terms of any over-allotment or “green shoe” option requested by the managing underwriter(s), provided that (A) no Holder shall be required to sell more than the number of Registrable Securities that such
Holder has requested the Company to include in any registration) and (B) if any Holder disapproves of the terms of the underwriting, such Holder may elect to withdraw therefrom by written notice to the Company, the managing
underwriter(s) and, in connection with an underwritten registration pursuant to this Section 3, the demanding Principal Stockholder, provided further that no such Person (other than the Company) shall be required to make any
representations or warranties other than those related to title and ownership of, and power and authority to transfer, shares and as to the accuracy and completeness of statements made in a Registration Statement, Prospectus or other document in
reliance upon, and in conformity with, written information prepared and furnished to the Company or the managing underwriter(s) by such Person pertaining exclusively to such Holder. Notwithstanding the foregoing, no Holder shall be required to agree
to any indemnification obligations on the part of such Holder that are greater than its obligations pursuant to Section 5. 
  

 12 

 4. Registration Procedures. If and whenever the Company is required to use its
reasonable best efforts to effect the registration of any Registrable Securities under the Securities Act as provided in Section 2 and Section 3, the Company shall effect such registration to permit the sale of such Registrable Securities
in accordance with the intended method or methods of disposition thereof, and pursuant thereto the Company shall cooperate in the sale of such Registrable Securities and shall, as expeditiously as possible: 
 (a) prepare and file, in each case as promptly as practicable, with the SEC a Registration Statement or Registration
Statements on such form as shall be available for the sale of the Registrable Securities by the Holders thereof or by the Company in accordance with the intended method or methods of distribution thereof, make all required filings with FINRA, and,
if such Registration Statement is not automatically effective upon filing, use its reasonable best efforts to cause such Registration Statement to be declared effective as soon as practicable and to remain effective as provided herein; provided,
however, that before filing a Registration Statement or Prospectus or any amendments or supplements thereto (including free writing prospectuses under Rule 433 (each a “Free Writing Prospectus”)) and, to the extent reasonably practicable,
documents that would be incorporated by reference or deemed to be incorporated by reference in a Registration Statement filed pursuant to a Demand Notice (other than a Shelf Registration Statement), the Company shall furnish or otherwise make
available to the Holders of the Registrable Securities covered by such Registration Statement, their counsel and the managing underwriter(s), if any, copies of all such documents proposed to be filed (including exhibits thereto), which documents
will be subject to the reasonable review and comment of such counsel, and such other documents reasonably requested by such counsel, including any comment letter from the SEC, and, if requested by such counsel, provide such counsel reasonable
opportunity to participate in the preparation of such Registration Statement and each Prospectus included therein and such other opportunities to conduct a reasonable investigation within the meaning of the Securities Act, including reasonable
access to the Company’s books and records, officers, accountants and other advisors. The Company shall not file any such Registration Statement or Prospectus, or any amendments or supplements thereto (including such documents that, upon filing,
would be incorporated or deemed incorporated by reference therein and including Free Writing Prospectuses) with respect to a Demand Registration to which the Holders of a majority of the Registrable Securities covered by such Registration Statement
(or their counsel) or the managing underwriter(s), if any, shall reasonably object, in writing, on a timely basis, unless, in the opinion of the Company, such filing is necessary to comply with applicable law; 
 (b) prepare and file with the SEC such amendments and supplements to such Registration Statement and the Prospectus used in
connection therewith and such Free Writing Prospectuses and Exchange Act reports as may be necessary to keep such Registration Statement continuously effective during the period provided herein and comply in all material respects with the provisions
of the Securities Act with respect to the disposition of all securities covered by such Registration Statement; and cause the related Prospectus to be supplemented by any Prospectus supplement as may be necessary to comply with the

  

 13 

 
provisions of the Securities Act with respect to the disposition of the securities covered by such Registration Statement, and as so supplemented to be filed pursuant to Rule 424 (or any similar
provisions then in force) under the Securities Act in each case, until such time as all of such securities have been disposed of in accordance with the intended method or methods of disposition by the seller or sellers thereof set forth in such
Registration Statement; 
 (c) notify each selling Holder of Registrable Securities, its counsel and the managing
underwriter(s), if any, (i) when a Prospectus or any Prospectus supplement or post-effective amendment or any Free Writing Prospectus has been filed, and, with respect to a Registration Statement or any post-effective amendment, when the
same has become effective, (ii) of any request by the SEC or any other federal or state governmental authority for amendments or supplements to a Registration Statement or related Prospectus or for additional information,
(iii) of the issuance by the SEC of any stop order suspending the effectiveness of such Registration Statement or the initiation or threatening of any proceedings for that purpose, (iv) if at any time the Company has reason
to believe that the representations and warranties of the Company contained in any agreement (including any underwriting agreement) contemplated by Section 1(n) below cease to be true and correct, (v) of the receipt by the Company
of any notification with respect to the suspension of the qualification or exemption from qualification of such Registrable Securities for sale in any jurisdiction, or the initiation of any proceeding for such purpose, and (vi) of the
happening of any event that makes any statement made in such Registration Statement or related Prospectus, Free Writing Prospectus, amendment or supplement thereto, or any document incorporated or deemed to be incorporated therein by reference, as
then in effect, untrue in any material respect or that requires the making of any changes in such Registration Statement, Prospectus or documents so that, in the case of the Registration Statement, it will not contain any untrue statement of a
material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein, not misleading, and that in the case of the Prospectus, it will not contain any untrue statement of a material fact or omit
to state any material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading (which notice shall notify the selling Holders only of the occurrence of such an event and
shall provide no additional information regarding such event to the extent such information would constitute material non-public information); 
 (d) use its reasonable best efforts to obtain the withdrawal of any order suspending the effectiveness of a Registration Statement, or the lifting of any suspension of the qualification (or exemption from
qualification) of any of the Registrable Securities for sale in any jurisdiction at the earliest date reasonably practical; 
 (e) if requested by the managing underwriter(s), if any, or the Holders of a majority of the then issued and outstanding Registrable Securities being sold in connection with an underwritten offering,
promptly include in a Prospectus supplement or post-effective amendment such information as the managing underwriter(s), if any, and such Holders may reasonably request in order to facilitate the disposition of the Registrable Securities in
accordance with intended method or methods of distribution of such securities set forth in the Registration Statement and make all required filings of such Prospectus supplement or such post-effective amendment as soon as practicable after the
Company has received such request; provided, however, that the Company shall not be required to take any actions under this Section 4(e) that are not, in the opinion of counsel for the Company, in compliance with applicable law;

  

 14 

 (f) deliver to each selling Holder of Registrable Securities, its counsel,
and the underwriters, if any, without charge, as many copies of the Prospectus or Prospectuses (including each form of Prospectus) and each amendment or supplement thereto (including any Free Writing Prospectus) as such Persons may reasonably
request from time to time in order to facilitate the disposition of the Registrable Securities in accordance with the intended method or methods of disposition thereof; and the Company, subject to the last paragraph of this Section 4, hereby
consents to the use of such Prospectus and each amendment or supplement thereto by each of the selling Holders of Registrable Securities and the underwriters, if any, in connection with the offering and sale of the Registrable Securities covered by
such Prospectus and any such amendment or supplement thereto; 
 (g) prior to any public offering of Registrable
Securities, use its reasonable best efforts to register or qualify or cooperate with the selling Holders of Registrable Securities, the underwriters, if any, and their respective counsel in connection with the registration or qualification (or
exemption from such registration or qualification) of such Registrable Securities for offer and sale under the securities or blue sky laws of such jurisdictions within the United States as any seller or underwriter reasonably requests in writing and
to keep each such registration or qualification (or exemption therefrom) effective during the period such Registration Statement is required to be kept effective and to take any other action that may be necessary or advisable to enable such Holders
of Registrable Securities to consummate the disposition of such Registrable Securities in such jurisdiction in accordance with the intended method or methods of disposition thereof; provided, however, that the Company will not be
required to (i) qualify generally to do business in any jurisdiction where it would not otherwise be required to qualify but for this Section 4(g), (ii) subject itself to taxation in any jurisdiction wherein it is not so
subject or (iii) take any action that would subject it to general service of process in any such jurisdiction where it is not then so subject; 
 (h) cooperate with the selling Holders of Registrable Securities and the managing underwriter(s), if any, to facilitate the timely preparation and delivery of certificates (not bearing any legends)
representing Registrable Securities to be sold after receiving written representations from each Holder of such Registrable Securities that the Registrable Securities represented by the certificates so delivered by such Holder will be transferred in
accordance with the Registration Statement, and enable such Registrable Securities to be in such denominations and registered in such names as the managing underwriter(s), if any, or Holders may request at least two Business Days prior to any sale
of Registrable Securities in a firm commitment public offering, but in any other such sale, within 10 Business Days prior to having to issue the securities; 
 (i) use its reasonable best efforts to cause the Registrable Securities covered by the Registration Statement to be
registered with or approved by such other governmental agencies or authorities within the United States as may be necessary in light of the business or operations of the Company to enable the seller or sellers thereof or the managing underwriter(s),
if any, to consummate the disposition of such Registrable Securities, in accordance with the intended method or methods thereof,

  

 15 

 
except as may be required solely as a consequence of the nature of such selling Holder’s business, in which case the Company will cooperate in all reasonable respects with the filing of such
Registration Statement and the granting of such approvals, as may be necessary to enable the seller or sellers thereof or the underwriters, if any, to consummate the disposition of such Registrable Securities in accordance with the intended method
or methods thereof; 
 (j) upon the occurrence of any event contemplated by Section 4(c)(v) above, prepare a
supplement or post-effective amendment to the Registration Statement or a supplement to the related Prospectus or any document incorporated or deemed to be incorporated therein by reference, or file any other required document so that, as thereafter
delivered to the purchasers of the Registrable Securities being sold thereunder, such Prospectus will not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the
statements therein, in the light of the circumstances under which they were made, not misleading; 
 (k) prior to
the effective date of the Registration Statement relating to the Registrable Securities, provide a CUSIP number for the Registrable Securities; 
 (l) provide and cause to be maintained a transfer agent and registrar for all such Registrable Securities from and after the effective date of such Registration Statement; 
 (m) use its reasonable best efforts to cause all shares of Registrable Securities covered by such Registration Statement to
be listed on a national securities exchange if shares of the particular class of Registrable Securities are at that time listed on such exchange, prior to the effectiveness of such Registration Statement (or, if such Registration is an IPO, use its
reasonable best efforts to cause such Registrable Securities to be so listed within 10 Business Days following the effectiveness of such Registration Statement); 
 (n) enter into such agreements (including an underwriting agreement in form, scope and substance as is customary in
underwritten offerings) and take all such other actions reasonably requested by the Holders of a majority of the Registrable Securities being sold in connection therewith (including those reasonably requested by the managing underwriter(s), if any)
to expedite or facilitate the disposition of such Registrable Securities, and in such connection, whether or not an underwriting agreement is entered into and whether or not the registration is an underwritten registration, (i) make such
representations and warranties to the Holders of such Registrable Securities and the underwriters, if any, with respect to the business of the Company and its material Subsidiaries, and the Registration Statement, Prospectus and documents, if any,
incorporated or deemed to be incorporated by reference therein, in each case, in form, substance and scope as are customarily made by issuers to underwriters in underwritten offerings, and, if true, confirm the same if and when requested,
(ii) use its reasonable best efforts to furnish to the selling Holders of such Registrable Securities opinions of outside counsel to the Company and updates thereof (which counsel and opinions (in form, scope and substance) shall be
reasonably satisfactory to the managing underwriter(s), if any, and counsels to the selling Holders of the Registrable Securities), addressed to each selling Holder of Registrable Securities and each of the underwriters, if any, covering the matters
customarily covered in opinions requested in underwritten offerings

  

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and such other matters as may be reasonably requested by such counsel and underwriters, (iii) use its reasonable best efforts to obtain “cold comfort” letters and updates
thereof from an independent registered public accounting firm with respect to the Company (and, if necessary, any other independent certified public accountants of any material Subsidiary of the Company or of any business acquired by the Company for
which financial statements and financial data are, or are required to be, included in the Registration Statement) who have certified the financial statements included in such Registration Statement, addressed to each selling Holder of Registrable
Securities (unless such accountants shall be prohibited from so addressing such letters by applicable standards of the accounting profession) and each of the underwriters, if any, such letters to be in customary form and covering matters of the type
customarily covered in “cold comfort” letters in connection with underwritten offerings, (iv) if an underwriting agreement is entered into, the same shall contain indemnification provisions and procedures that are customary for
underwriting agreements in connection with underwritten offerings except as otherwise agreed by the parties thereto and (v) deliver such documents and certificates as may be reasonably requested by the Holders of a majority of the
Registrable Securities being sold pursuant to such Registration Statement, their counsel and the managing underwriter(s), if any, to evidence the continued validity of the representations and warranties made pursuant to Section 4(n)(i) above
and to evidence compliance with any customary conditions contained in the underwriting agreement or other agreement entered into by the Company. The above shall be done at each closing under such underwriting or similar agreement, or as and to the
extent required thereunder; 
 (o) upon reasonable notice, make available for inspection by a representative of
the selling Holders of Registrable Securities, the underwriters participating in any such disposition of Registrable Securities, if any, and any attorneys or accountants retained by such selling Holders or underwriter at the offices where normally
kept, during reasonable business hours, all financial and other records, pertinent corporate documents and properties of the Company and its Subsidiaries, and cause the officers, directors and employees of the Company and its Subsidiaries to supply
all information in each case reasonably requested by any such representative, underwriter, attorney or accountant in connection with such Registration Statement; provided, however, that any information that is not generally publicly
available at the time of delivery of such information shall be kept confidential by such Persons unless (i) disclosure of such information is required by court or administrative order, (ii) disclosure of such information, in
the opinion of counsel to such Person, is required by law or applicable legal process, or (iii) such information becomes generally available to the public other than as a result of a disclosure or failure to safeguard by such Person. In
the case of a proposed disclosure pursuant to (i) or (ii) above, such Person shall be required to give the Company written notice of the proposed disclosure prior to such disclosure and, if requested by the Company, assist the Company in
seeking to prevent or limit the proposed disclosure. Without limiting the foregoing, no such information shall be used by such Person as the basis for any market transactions in securities of the Company or its Subsidiaries in violation of law;

 (p) cause its officers to use their reasonable best efforts to support the marketing of the Registrable
Securities covered by the Registration Statement (including, without limitation, participation in such number of “road shows” as the underwriter(s) reasonably request); 
  

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 (q) cooperate with each seller of Registrable Securities and each
underwriter or agent participating in the disposition of such Registrable Securities and their respective counsel in connection with any filings required to be made with the FINRA; and 
 (r) otherwise use its reasonable best efforts to comply with all applicable rules and regulations of the SEC, and make
available to its security holders, as soon as reasonably practicable, an earnings statement covering the period of at least twelve months beginning with the first day of the Company’s first full calendar quarter after the effective date of the
Registration Statement, which earnings statement will satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder. 
 The Company may require each Holder of Registrable Securities as to which any registration is being effected to furnish to the Company in writing such information required in connection with such
registration regarding such seller and the distribution of such Registrable Securities as the Company may, from time to time, reasonably request and the Company may exclude from such registration the Registrable Securities of any Holder who
unreasonably fails to furnish such information within a reasonable time after receiving such request. 
 The Company agrees not
to file or make any amendment to any Registration Statement with respect to any Registrable Securities, or any amendment of or supplement to the Prospectus or any Free Writing Prospectus used in connection therewith, that refers to any Holder
covered thereby by name, or otherwise identifies such Holder as the holder of any securities of the Company, without the consent of such Holder, such consent not to be unreasonably withheld or delayed, unless and to the extent such disclosure is
required by law, in which case the Company shall provide written notice to such Holders no less than five Business Days prior to the filing of such amendment to any Registration Statement or amendment of or supplement to the Prospectus or any Free
Writing Prospectus. 
 If the Company files any Shelf Registration Statement for the benefit of the holders of any of its
securities other than the Holders, the Company agrees that it shall use its reasonable best efforts to include in such registration statement such disclosures as may be required by Rule 430B under the Securities Act (referring to the unnamed selling
security holders in a generic manner by identifying the initial offering of the securities to the Holders) in order to ensure that the Holders may be added to such Shelf Registration Statement at a later time through the filing of a Prospectus
supplement rather than a post-effective amendment. 
 Each Holder of Registrable Securities agrees if such Holder has
Registrable Securities covered by such Registration Statement that, upon receipt of any notice from the Company of the happening of any event of the kind described in Section 4(c)(ii), 4(c)(iii), 4(c)(iv) and 4(c)(v) hereof, such Holder will
promptly discontinue disposition of such Registrable Securities covered by such Registration Statement or Prospectus until such Holder’s receipt of the copies of the supplemented or amended Prospectus contemplated by Section 4(j) hereof,
or until it is advised in writing by the Company that the use of the applicable Prospectus may be resumed, and has received copies of any additional or supplemental filings that are incorporated or deemed to be incorporated by reference in such
Prospectus; provided, however, that the time periods under Section 3 with respect to the length of time that the effectiveness of a Registration Statement must be maintained shall automatically be extended by the amount of time
the Holder is required to discontinue disposition of such securities. 
  

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 5. Indemnification. 
 (a) Indemnification by the Company. The Company shall, without limitation as to time, indemnify and hold harmless, to
the fullest extent permitted by law, each Holder of Registrable Securities whose Registrable Securities are covered by a Registration Statement or Prospectus, the officers, directors, partners, members, managers, shareholders, accountants,
attorneys, agents and employees of each of them, each Person who controls (within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act) each such Holder and the officers, directors, partners, members, managers,
shareholders, accountants, attorneys, agents and employees of each such controlling person, each underwriter, if any, and each Person who controls (within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act)
such underwriter (each such person being referred to herein as a “Covered Person”), from and against any and all losses, claims, damages, liabilities, costs (including, without limitation, costs of preparation and reasonable
attorneys’ fees and any legal or other fees or expenses incurred by such party in connection with any investigation or proceeding), expenses, judgments, fines, penalties, charges and amounts paid in settlement (collectively,
“Losses”), as incurred, arising out of or based upon any untrue or alleged untrue statement of a material fact contained in any Prospectus, offering circular, or other document (including any related Registration Statement,
notification, or the like or Free Writing Prospectus or any amendment thereof or supplement thereto or any document incorporated by reference therein) incident to any such registration, qualification, or compliance, or based on any omission or
alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, or any violation by the Company of the Securities Act, the Exchange Act, any state securities law, or any
rule or regulation thereunder applicable to the Company and relating to any action or inaction in connection with the related offering of Registrable Securities, and will reimburse each such Covered Person for any legal and any other expenses
reasonably incurred in connection with investigating and defending or settling any such Loss, provided that the Company will not be liable in any such case to the extent that any such Loss arises out of or is based on any untrue statement or
omission by such Covered Person relating to such Covered Person or its Affiliates (other than the Company or any of its Subsidiaries), but only to the extent, that such untrue statement (or alleged untrue statement) or omission (or alleged omission)
is made in such Registration Statement, Prospectus, offering circular, Free Writing Prospectus or any amendment thereof or supplement thereto, or any document incorporated by reference therein, or other document in reliance upon and in conformity
with written information furnished to the Company by such Covered Person with respect to such Covered Person for use therein. It is agreed that the indemnity agreement contained in this Section 5(a) shall not apply to amounts paid in settlement
of any such Loss or action if such settlement is effected without the consent of the Company (which consent shall not be unreasonably withheld). 
 (b) Indemnification by Holder of Registrable Securities. As a condition to including any Registrable Securities in any Registration Statement filed in accordance with Section 4 hereof, the
Company shall have received an undertaking reasonably satisfactory to it from the prospective seller of such Registrable Securities to indemnify, to the fullest extent permitted by law, severally and not jointly with any other Holders of Registrable
Securities, the Company, its directors and officers and

  

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each Person who controls (within the meaning of Section 15 of the Securities Act and Section 20 of the Exchange Act) the Company and all other prospective sellers, from and against all
Losses arising out of or based on any untrue or alleged untrue statement of a material fact contained in any such Registration Statement, Prospectus, Free Writing Prospectus, offering circular, or other document, or any omission or alleged omission
to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company, such directors, controlling persons and prospective sellers for any legal or any other
expenses reasonably incurred in connection with investigating or defending any such Loss, in each case to the extent, but only to the extent, that such untrue statement or omission is made in such Registration Statement, Prospectus, Free Writing
Prospectus, offering circular, or other document in reliance upon and in conformity with written information furnished to the Company by such Holder with respect to such Holder for inclusion in such Registration Statement, Prospectus, offering
circular or other document; provided, however, that the obligations of such Holder hereunder shall not apply to amounts paid in settlement of any such Losses (or actions in respect thereof) if such settlement is effected without the
consent of such Holder (which consent shall not be unreasonably withheld); and provided, further, that the liability of such Holder of Registrable Securities shall be limited to the net proceeds received by such selling Holder from the
sale of Registrable Securities covered by such Registration Statement. 
 (c) Conduct of Indemnification
Proceedings. If any Person shall be entitled to indemnity hereunder (an “Indemnified Party”), such Indemnified Party shall give prompt notice to the party from which such indemnity is sought (the “Indemnifying
Party”) of any claim or of the commencement of any proceeding with respect to which such Indemnified Party seeks indemnification or contribution pursuant hereto; provided, however, that the delay or failure to so notify the
Indemnifying Party shall not relieve the Indemnifying Party from any obligation or liability except to the extent that the Indemnifying Party has been materially prejudiced by such delay or failure. The Indemnifying Party shall have the right,
exercisable by giving written notice to an Indemnified Party promptly after the receipt of written notice from such Indemnified Party of such claim or proceeding, to, unless in the Indemnified Party’s reasonable judgment a conflict of interest
between such indemnified and indemnifying parties may exist in respect of such claim, assume, at the Indemnifying Party’s expense, the defense of any such claim or proceeding, with counsel reasonably satisfactory to such Indemnified Party;
provided, however, that an Indemnified Party shall have the right to employ separate counsel in any such claim or proceeding and to participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense
of such Indemnified Party unless: (i) the Indemnifying Party agrees to pay such fees and expenses; or (ii) the Indemnifying Party fails promptly to assume, or in the event of a conflict of interest cannot assume, the defense
of such claim or proceeding or fails to employ counsel reasonably satisfactory to such Indemnified Party; in which case the Indemnified Party shall have the right to employ counsel and to assume the defense of such claim or proceeding at the
Indemnifying Party’s expense; provided, further, however, that the Indemnifying Party shall not, in connection with any one such claim or proceeding or separate but substantially similar or related claims or proceedings in
the same jurisdiction, arising out of the same general allegations or circumstances, be liable for the fees and expenses of more than one firm of attorneys (together with appropriate local counsel) at any time for all of the Indemnified Parties, or
for fees and expenses that are not reasonable. Whether or not such defense is assumed by the Indemnifying Party, such Indemnifying Party will not be subject to

  

 20 

 
any liability for any settlement made without its consent (but such consent will not be unreasonably withheld). The Indemnifying Party shall not consent to entry of any judgment or enter into any
settlement that (x) does not include as an unconditional term thereof the giving by the claimant or plaintiff to such Indemnified Party of a release, in form and substance reasonably satisfactory to the Indemnified Party, from all
liability in respect of such claim or litigation for which such Indemnified Party would be entitled to indemnification hereunder or (y) involves the imposition of equitable remedies or the imposition of any obligations on the Indemnified
Party or adversely affects such Indemnified Party other than as a result of financial obligations for which such Indemnified Party would be entitled to indemnification hereunder. 
 (d) Contribution. If the indemnification provided for in this Section 5 is unavailable to an Indemnified Party in
respect of any Losses (other than in accordance with its terms), then each applicable Indemnifying Party, in lieu of indemnifying such Indemnified Party, shall contribute to the amount paid or payable by such Indemnified Party as a result of such
Losses, in such proportion as is appropriate to reflect the relative fault of the Indemnifying Party, on the one hand, and such Indemnified Party, on the other hand, in connection with the actions, statements or omissions that resulted in such
Losses as well as any other relevant equitable considerations. The relative fault of such Indemnifying Party, on the one hand, and Indemnified Party, on the other hand, shall be determined by reference to, among other things, whether any action in
question, including any untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact, has been made (or omitted) by, or relates to information supplied by, such Indemnifying Party or Indemnified
Party, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent any such action, statement or omission. 
 The parties hereto agree that it would not be just and equitable if contribution pursuant to this Section 5(d) were determined by pro rata allocation or by any other method of allocation that does
not take account of the equitable considerations referred to in the immediately preceding paragraph. Notwithstanding the provisions of this Section 5(d), an Indemnifying Party that is a selling Holder of Registrable Securities shall not be
required to contribute any amount in excess of the amount that such Indemnifying Party has otherwise been, or would otherwise be, required to pay pursuant to Section 5(b) by reason of such untrue or alleged untrue statement or omission or
alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation.

 Notwithstanding the foregoing, to the extent that the provisions on indemnification and contribution contained in the
underwriting agreement entered into in connection with the underwritten public offering are in conflict with the foregoing provisions, the provisions in the underwriting agreement shall control. 
 (e) Deemed Underwriter. To the extent that any of the Holders is, or would be expected to be, deemed to be an
underwriter of Registrable Securities pursuant to any SEC comments or policies or any court of law or otherwise, the Company agrees that (i) the indemnification and contribution provisions contained in this Section 5 shall be
applicable to the benefit of such Holder in its role as deemed underwriter in addition to its capacity as a Holder (so long as the amount for which any other Holder is or

  

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becomes responsible does not exceed the amount for which such Holder would be responsible if the Holder were not deemed to be an underwriter of Registrable Securities) and (ii) such
Holder and its representatives shall be entitled to conduct the due diligence which would normally be conducted in connection with an offering of securities registered under the Securities Act, including receipt of customary opinions and comfort
letters. 
 (f) Other Indemnification. Indemnification similar to that specified in the preceding
provisions of this Section 5 (with appropriate modifications) shall be given by the Company and each seller of Registrable Securities with respect to any required registration or other qualification of securities under any federal or state law
or regulation or governmental authority other than the Securities Act. 
 (g) Non-Exclusivity. The
obligations of the parties under this Section 5 shall be in addition to any liability which any party may otherwise have to any other party. 
 6. Registration Expenses. All reasonable fees and expenses incurred in the performance of or compliance with this Agreement by the Company including, without limitation, (i) all
registration and filing fees (including, without limitation, fees and expenses (A) with respect to filings required to be made with the SEC, all applicable securities exchanges and/or FINRA and (B) of compliance with
securities or blue sky laws, including, without limitation, any fees and disbursements of counsel for the underwriters in connection with blue sky qualifications of the Registrable Securities pursuant to Section 4(g)), (ii) printing
expenses (including, without limitation, expenses of printing certificates for Registrable Securities in a form eligible for deposit with The Depository Trust Company and of printing Prospectuses if the printing of Prospectuses is requested by the
managing underwriter(s), if any, or by the Holders of a majority of the Registrable Securities included in any Registration Statement), (iii) messenger, telephone and delivery expenses of the Company, (iv) fees and
disbursements of counsel for the Company, (v) expenses of the Company incurred in connection with any road show, (vi) fees and disbursements of all independent registered public accounting firms referred to in
Section 4(n) hereof (including, without limitation, the expenses of any “cold comfort” letters required by this Agreement) and any other persons, including special experts retained by the Company shall be borne by the Company whether
or not any Registration Statement is filed or becomes effective and (vii) fees and disbursements of separate counsel for each Principal Stockholder participating in the offering (which counsel shall be selected by such Principal
Stockholder) and, if no Principal Stockholder is participating in the offering, one counsel for the Holders of Registrable Securities whose shares are included in a Registration Statement (which counsel shall be selected by the Holders of a majority
of the Registrable Securities included in such Registration Statement) shall be borne by the Company whether or not any Registration Statement is filed or becomes effective. In addition, the Company shall pay its internal expenses (including,
without limitation, all salaries and expenses of its officers and employees performing legal or accounting duties), the expense of any annual audit, the fees and expenses incurred in connection with the listing of the securities to be registered on
any securities exchange on which similar securities issued by the Company are then listed and rating agency fees and the fees and expenses of any Person, including special experts, retained by the Company. 
  

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 The Company shall not be required to pay (i) fees and disbursements of any
counsel retained by any Holder of Registrable Securities or by any underwriter (except as set forth above in this Section 6), (ii) any underwriter’s fees (including discounts, commissions or fees of underwriters, selling
brokers, dealer managers or similar securities industry professionals) relating to the distribution of the Registrable Securities (other than with respect to Registrable Securities sold by the Company), (iii) expenses (other than the
Company’s internal expenses) in connection with any Demand Registration begun pursuant to Section 3, the request of which has been subsequently withdrawn by the demanding Principal Stockholder unless (x) the withdrawal is based
upon (A) any fact, circumstance, event, change, effect or occurrence that individually or in the aggregate with all other facts or circumstances, events, changes, effects or occurrences has a material adverse effect on the Company or
(y) material adverse information concerning the Company that the Company had not publicly disclosed at least forty-eight (48) hours prior to such registration request or that the Company had not otherwise notified, in writing, the
demanding Principal Stockholder of at the time of such request, (y) the demanding Principal Stockholder has not withdrawn two Demand Registrations of a type not covered by the foregoing clauses (iii)(x)(A) or (iii)(x)(B) or
(z) after the demanding Principal Stockholder’s withdrawal of two Demand Registrations where such withdrawal is not covered by clauses (iii)(x)(A) or (iii)(x)(B), such demanding Principal Stockholder agrees to forfeit its right to
one Demand Registration pursuant to Section 3 with respect to the limit set forth in Section 3(d) or (iv) any other expenses of the Holders of Registrable Securities not specifically required to be paid by the Company pursuant
to the first paragraph of this Section 6. 
 7. Rule 144. After an IPO, the Company covenants that it will file the
reports required to be filed by it under the Securities Act and the Exchange Act and the rules and regulations adopted by the SEC thereunder (or, if the Company is not required to file such reports, it will, upon the request of any Principal
Stockholder, make publicly available such information so long as necessary to permit sales of Registrable Securities pursuant to Rule 144), and it will take such further action as any Holder of Registrable Securities (or, if the Company is not
required to file reports as provided above, any Principal Stockholder) may reasonably request, all to the extent required from time to time to enable such Holder to sell shares of Registrable Securities without registration under the Securities Act
within the limitation of the exemptions provided by Rule 144. Upon the request of any Holder of Registrable Securities, the Company will deliver to such Holder a written statement as to whether it has complied with such requirements and, if not, the
specifics thereof. 
 8. Certain Additional Agreements. If any Registration Statement or comparable statement under state
blue sky laws refers to any Holder by name or otherwise as the Holder of any securities of the Company, then such Holder shall have the right to require (a) the insertion therein of language, in form and substance satisfactory to such
Holder and the Company, to the effect that the holding by such Holder of such securities is not to be construed as a recommendation by such Holder of the investment quality of the Company’s securities covered thereby and that such holding does
not imply that such Holder will assist in meeting any future financial requirements of the Company, or (b) in the event that such reference to such Holder by name or otherwise is not in the judgment of the Company required by the
Securities Act or any similar federal statute or any state blue sky or securities law then in force, the deletion of the reference to such Holder. 
  

 23 

 9. Unilever Warrant. 
 (a) Registration Rights. In connection with a public offering of Registrable Securities, following the valid delivery,
in accordance with the provisions of the Unilever Warrant (or any Preemptive Rights Warrant, as the case may be) of an Offering Notice by the holder of the Unilever Warrant (or such Preemptive Rights Warrant, as the case may be) to the Company and
its surrender of the Unilever Warrant (or such Preemptive Rights Warrant, as the case may be) to the Company, the holder of the Warrant Shares issued under the Unilever Warrant (or such Preemptive Rights Warrant, as the case may be) shall for all
purposes of this Agreement, be treated from and after such time as a Holder of Registrable Securities with the rights and obligations hereunder of a Holder of Registrable Securities with respect to such Warrant Shares (other than any rights and
obligations available specifically to the Principal Stockholders rather than Holders of Registrable Securities), subject to the limitations, if any, on such rights and obligations as may be contained in the Unilever Warrant (or such Preemptive
Rights Warrant, as the case may be), including Section 9.2 thereof, and this Agreement. 
 (b) Tag-Along
Rights. Each Holder that is a party to the Stockholders Agreement hereby acknowledges and agrees that the holder of the Unilever Warrant (and any Preemptive Rights Warrant) shall be entitled to tag-along sale rights pursuant to Section 3.4
of the Stockholders Agreement as though such holder of the Unilever Warrant (or such Preemptive Rights Warrant, as the case may be) were a party to the Stockholders Agreement with respect to the Warrant Shares issuable under the Unilever Warrant (or
such Preemptive Rights Warrant, as the case may be) and in a manner consistent with Section 8 of the Unilever Warrant (or such Preemptive Rights Warrant, as the case may be), and, except as set forth in the Unilever Warrant (or the Preemptive
Rights Warrant, as the case may be), such holder of the Unilever Warrant (or such Preemptive Rights Warrant, as the case may be) hereby agrees to be bound by the applicable provisions of Section 3.4 of the Stockholders Agreement in respect of
the exercise of such tag-along sale rights. 
 10. Miscellaneous. 
 (a) Termination. The provisions of this Agreement (other than Section 5) shall terminate upon the earliest to
occur of (i) its termination by the written agreement of all parties hereto or their respective successors in interest, (ii) with respect to a Stockholder, the date on which all shares of Common Stock held by such Stockholder
have ceased to be Registrable Securities, (iii) with respect to the Company, the date on which all shares of Common Stock have ceased to be Registrable Securities and (iv) the dissolution, liquidation or winding up of the
Company. Nothing herein shall relieve any party from any liability for the breach of any of the agreements set forth in this Agreement. 
 (b) Holdback Agreement. In consideration for the Company agreeing to its obligations under this Agreement, each Holder agrees in connection with any registration of the Company’s securities
(whether or not such Holder is participating in such registration) upon the request of the Company and the underwriter(s) managing any underwritten offering of the Company’s securities, not to effect (other than pursuant to such registration)
any public sale or distribution of Registrable Securities, including, but not limited to, any sale pursuant to Rule 144, or make any short sale of, loan, grant any option for the purchase of, or otherwise dispose of, or enter into any swap or other
arrangement that transfers to another Person any of the economic consequences of ownership of, any Registrable Securities, any other equity securities of the Company or any securities convertible into or exchangeable or exercisable for any equity
securities of the Company without the prior written consent of the Company or such underwriters, as the case may be, during the Holdback Period. 
  

 24 

 If any registration pursuant to Section 3 of this Agreement shall be in connection with
any underwritten public offering, the Company will not effect any public sale or distribution of any common equity (or securities convertible into or exchangeable or exercisable for common equity) (other than a registration statement
(i) on Form S-4, Form S-8 or any successor forms promulgated for similar purposes or (ii) filed in connection with an exchange offer or any employee benefit or dividend reinvestment plan) for its own account, during the
Holdback Period. 
 (c) Amendments and Waivers. This Agreement may be amended and the Company may take any
action herein prohibited, or omit to perform any act herein required to be performed by it, only if any such amendment, action or omission to act, has received the Requisite Approval; provided that this Agreement may not be amended in a
manner that would, by its terms, adversely affect the rights or obligations of any Principal Stockholder and its Permitted Transferees without the consent of such Principal Stockholder; provided further that this Agreement may not be
amended in a manner that would, by its terms, adversely affect the rights or obligations of any Stockholder which does not adversely affect the rights or obligations of all similarly situated Stockholders in the same manner without the consent of
such Stockholder and provided further that this Agreement may not be amended in a manner that would, by its terms, adversely affect the rights or obligations of the holder of the Unilever Warrant (or any Preemptive Rights Warrant) or
holders of Warrant Shares which does not adversely affect the rights or obligations of the Principal Stockholders in the same manner without the consent of Marga. The failure of any party to enforce any of the provisions of this Agreement shall in
no way be construed as a waiver of such provisions and shall not affect the right of such party thereafter to enforce each and every provision of this Agreement in accordance with its terms. Any Stockholder may waive (in writing) the benefit of any
provision of this Agreement with respect to itself for any purpose. Any such waiver shall constitute a waiver only with respect to the specific matter described in such writing and shall in no way impair the rights of the Stockholder granting such
waiver in any other respect or at any other time. 
 (d) Successors, Assigns and Transferees. This
Agreement shall be binding upon and inure to the benefit of and be enforceable by the parties hereto and their respective successors and assigns who become a party to this Agreement in accordance with the terms hereof and the Stockholders Agreement
or the Unilever Warrant, as applicable. In addition, and whether or not any express assignment shall have been made, the provisions of this Agreement which are for the benefit of Holders shall also be for the benefit of and enforceable by any
subsequent Holder of any Registrable Securities, subject to the provisions contained herein. 
  

 25 

 (e) Notices. All notices, requests and other communications to any
party hereunder shall be in writing (including facsimile transmission) and shall be given: 
 If to the Company, to: 

JohnsonDiversey Holdings, Inc. 
 8310 16th Street 
 Sturtevant, WI 53177 
 Attention: General Counsel 
 Fax: (262) 631-4021 
 with a copy (which shall not constitute notice) to:

 Jones Day 
 77 West Wacker Drive 
 Chicago, IL 60601 
 Attention: Elizabeth C. Kitslaar, Esq. 
 Fax: (312) 782-8585 
 and 
 Clayton, Dubilier & Rice, LLC 
 375 Park Avenue 
 18th Floor 
 New York, New York 10152 
 Attention: Richard J. Schnall 
                  George K. Jaquette 
 Fax: (212) 407-5252 
 and 
 Debevoise & Plimpton LLP 
 919 Third Avenue 
 New York, New York 10022 
 Attention: Franci J. Blassberg, Esq. 
                  Jonathan E. Levitsky, Esq. 
 Fax: (212) 909-6836 
 if to CMH, to: 
 Commercial Markets Holdco, Inc. 
 c/o Johnson Keland Management, Inc. 
 555 Main Street, Suite 500 
 Racine, WI 53403-4616 
 Attention: President 
 Fax: (262) 260-6165 
 with a copy (which shall not constitute notice) to: 
 McDermott Will & Emery LLP 
 227 W. Monroe Street 
 Chicago, Illinois 60606 
 Attention: William J. Butler, Esq. 
                  Helen R. Friedli, Esq. 
 Fax: (312) 984-7700 
  

 26 

 if to a CD&R Investor Party, to: 
 Clayton, Dubilier & Rice, LLC 
 375 Park Avenue 
 18th Floor 
 New York, New York 10152 
 Attention: Richard J. Schnall 
                  George K. Jaquette 
 Fax: (212) 407-5252 
 with a copy (which shall not constitute notice) to: 
 Debevoise & Plimpton LLP 
 919 Third Avenue 
 New York, New York 10022 
 Attention: Franci J. Blassberg, Esq. 
                  Jonathan E. Levitsky, Esq. 
 Fax: (212) 909-6836 
 if to SNW, to: 
 SNW Co., Inc. 
 c/o S.C. Johnson & Son, Inc. 
 1525 Howe Street 
 Racine, WI 53403-2236 
 Attention: Chief Executive Officer 
 Fax: (414) 260-3687 
 with a copy (which shall not constitute notice) to: 
 General Counsel 
 S.C. Johnson & Son, Inc. 
 1525 Howe Street 
 Racine, WI 53403-2236 
 Fax: (414) 260-4253 
 if to Marga, to: 
 Marga B.V. 
 c/o Unilever N.V. 
 Weena 455 
 3013 AL Rotterdam 
 The Netherlands 
 Attention: General Counsel 
 Facsimile: +44.20.7822.6536 
  

 27 

 with a copy (which shall not constitute notice) to: 
 Cravath, Swaine & Moore LLP 
 Worldwide Plaza 
 825 Eighth Avenue 
 New York, NY 10019 
 USA 
 Attention: Mark I. Greene, Esq. 
 Facsimile: 212.474.3700 
 or such other address or facsimile number as such party may hereafter
specify for the purpose by notice to the other parties hereto. 
 If to any other Holder of Registrable Securities, to the
address of such other Holder as shown in the stock record book of the Company. 
 All such notices, requests and other
communications shall be deemed received on the date of receipt by the recipient thereof if received prior to 5:00 p.m. on a Business Day in the place of receipt. Otherwise, any such notice, request or communication shall be deemed to have been
received on the next succeeding Business Day in the place of receipt. 
 (f) Further Assurances. At any
time or from time to time after the date hereof, the parties agree to cooperate with each other, and at the request of any other party, to execute and deliver any further instruments or documents and to take all such further action as the other
party may reasonably request in order to evidence or effectuate the consummation of the transactions contemplated hereby and to otherwise carry out the intent of the parties hereunder. 
 (g) No Inconsistent Agreements. The Company shall not hereafter enter into any agreement with respect to its
securities which is inconsistent with or violates the rights granted to the holders of Registrable Securities in this Agreement. 
 (h) Entire Agreement; No Third Party Beneficiaries. This Agreement, together with the Stockholders Agreement, Redemption Agreement, the Investment Agreement, the CD&R Indemnification Agreement,
the CMH Indemnification Agreement, the Consulting Agreement and the Unilever Warrant, (i) constitutes the entire agreement among the parties with respect to the subject matter of this Agreement and supersede any prior discussions,
correspondence, negotiation, proposed term sheet, agreement, understanding or agreement and there are no agreements, understandings, representations or warranties between the parties other than those set forth or referred to in this Agreement and
(ii) except as provided in Section 5 with respect to an Indemnified Party, is not intended to confer in or on behalf of any Person not a party to this Agreement (and their successors and assigns) any rights, benefits, causes of
action or remedies with respect to the subject matter or any provision hereof. 
  

 28 

 (i) Governing Law; Jurisdiction and Forum; Waiver of Jury Trial.

 (i) This Agreement shall be governed by and construed in accordance with the laws of the State of New York
applicable to contracts executed and to be performed wholly within such State and without reference to the choice-of-law principles that would result in the application of the laws of a different jurisdiction. 
 (ii) Each party to this Agreement irrevocably submits to the jurisdiction of the United States District Court for the
Southern District of New York or any court of the State of New York located in such district any suit, action or other proceeding arising out of or relating to this Agreement, and hereby irrevocably agrees that all claims in respect of such suit,
action or proceeding may be heard and determined in such court. Each party to this Agreement hereby irrevocably waives, to the fullest extent that it may effectively do so, the defense of an inconvenient forum to the maintenance of such suit, action
or other proceeding. The parties further agree, to the extent permitted by law, that final and unappealable judgment against any of them in any suit, action or other proceeding contemplated above shall be conclusive and may be enforced in any other
jurisdiction within or outside the United States by suit on the judgment, a certified copy of which shall be conclusive evidence of the fact and amount of such judgment. 
 (iii) EACH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF
ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. 
 (j) Severability. If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction or other authority to be invalid, void or unenforceable, the
remainder of the terms, provisions, covenants and restrictions of this Agreement shall remain in full force and effect and shall in no way be affected, impaired or invalidated so long as the economic or legal substance of the transactions
contemplated hereby is not affected in any manner materially adverse to any party hereto. Upon such a determination, the parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as
possible in a mutually acceptable manner in order that the transactions contemplated hereby be consummated as originally contemplated to the fullest extent possible. 
 (k) Enforcement. Each party hereto acknowledges that money damages would not be an adequate remedy in the event that
any of the covenants or agreements in this Agreement are not performed in accordance with its terms, and it is therefore agreed that in addition to and without limiting any other remedy or right it may have, the non-breaching party will have the
right to an injunction, temporary restraining order or other equitable relief in any court of competent jurisdiction enjoining any such breach and enforcing specifically the terms and provisions hereof. In any action or proceeding brought to enforce
any provision of this Agreement, the successful party shall be entitled to recover reasonable attorneys’ fees in addition to its costs and expenses and other available remedies. 
  

 29 

 (l) Titles and Subtitles. The titles of the sections and subsections
of this Agreement are for convenience of reference only and will not affect the meaning or interpretation of this Agreement. 
 (m) No Recourse. Notwithstanding anything that may be expressed or implied in this Agreement, the Company and each Stockholder covenant, agree and acknowledge that no recourse under this Agreement
or any documents or instruments delivered in connection with this Agreement shall be had against any current or future director, officer, employee, shareholder, general or limited partner or member of any Stockholder or of any Affiliate or assignee
thereof, whether by the enforcement of any assessment or by any legal or equitable proceeding, or by virtue of any statute, regulation or other applicable law, it being expressly agreed and acknowledged that no personal liability whatsoever shall
attach to, be imposed on or otherwise be incurred by any current or future director, officer, employee, shareholder, general or limited partner or member of any Stockholder or of any Affiliate or assignee thereof, as such for any obligation of any
Stockholder under this Agreement or any documents or instruments delivered in connection with this Agreement for any claim based on, in respect of or by reason of such obligations or their creation. 
 (n) Counterparts; Facsimile Signatures. This Agreement may be executed in any number of counterparts (including via
facsimile and electronic transmission), each of which shall be an original, but all of which together shall constitute one instrument. This Agreement may be executed by facsimile signature(s). 
 [Remainder of page left intentionally blank] 
  

 30 

 IN WITNESS WHEREOF, each of the undersigned has executed this Agreement or caused this
Agreement to be duly executed on its behalf as of the date first written above. 
  

					
	JOHNSONDIVERSEY HOLDINGS, INC.
		
	By: 	 	/s/    Joseph F. Smorada
		 	Name:	 	Joseph F. Smorada
		 	Title:	 	 Executive Vice President and
 Chief Financial Officer

	
	CDR JAGUAR INVESTOR COMPANY, LLC
		
	By:	 	/s/    Theresa A. Gore
		 	Name:	 	Theresa A. Gore
		 	Title:	 	Vice President & Treasurer
	
	CDR F&F JAGUAR INVESTOR, LLC
		
	By:	 	/s/    Theresa A. Gore
		 	Name:	 	Theresa A. Gore
		 	Title:	 	Vice President & Treasurer
	
	COMMERCIAL MARKETS HOLDCO, INC.
		
	By:	 	/s/    S. Curtis Johnson
		 	Name:	 	S. Curtis Johnson
		 	Title:	 	Chairman
	
	SNW CO., INC.
		
	By:	 	/s/    Gary R. Akavickas
		 	Name:	 	Gary R. Akavickas
		 	Title:	 	 Senior Vice President,
 General Counsel and Secretary

					
	MARGA B.V.
		
	By:	 	/s/    Robert Leek
		 	Name:	 	Robert Leek
		 	Title:	 	General Counsel, Europe

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