Document:

Amendment No. 7 to Fifth Amended and Restated Receivables Purchase Agreement

 Exhibit 10.1 
 EXECUTION VERSION 
 AMENDMENT NO. 7 TO FIFTH AMENDED AND RESTATED 
 RECEIVABLES PURCHASE AGREEMENT 
 AND

 REAFFIRMATION OF PERFORMANCE UNDERTAKING 
 This Amendment No. 7 to Fifth Amended and Restated Receivables Purchase Agreement (this “Amendment”) is entered into as of March 30, 2009, among Dairy Group Receivables, L.P., a Delaware
limited partnership (“Dairy Group”), Dairy Group Receivables II, L.P., a Delaware limited partnership (“Dairy Group II”), WhiteWave Receivables, L.P., a Delaware limited partnership (“WhiteWave”
and, together with Dairy Group and Dairy Group II, the “Sellers” and each, a “Seller”), each of the parties listed on the signature pages hereof as a Servicer (each, a “Servicer” and collectively,
the “Servicers”), each of the parties listed on the signature pages hereof as a Financial Institution (each, a “Financial Institution” and collectively, the “Financial Institutions”), each of the
parties listed on the signature pages hereof as a Company (each, a “Company” and collectively, the “Companies”), JPMorgan Chase Bank, N.A. (successor by merger to Bank One, NA (Main Office Chicago)), as Agent (the
“Agent”), and Dean Foods Company, as Provider (“Provider”). Capitalized terms used herein and not otherwise defined shall have the respective meanings set forth in the Fifth Amended and Restated Receivables Purchase
Agreement, dated as of April 2, 2007, among the Sellers, the Servicers party thereto, the Financial Institutions, the Companies and the Agent as amended to the date hereof (the “Receivables Purchase Agreement”). 
 R E C I T A L S: 
 WHEREAS, in connection with the Receivables Purchase Agreement, Provider entered into each of (i) that certain Third Amended and Restated Performance Undertaking, dated as of March 30, 2004, in favor of
Dairy Group, (ii) that certain Second Amended and Restated Performance Undertaking, dated as of March 30, 2004, in favor of Dairy Group II and (iii) that certain National Brand Group Performance Undertaking, dated as of March 30,
2004, in favor of WhiteWave (successor to National Brand Group, L.P.) (collectively, the “Performance Undertakings”); 
 WHEREAS, SunTrust Bank (“SunTrust”) and Three Pillars Funding (“SunTrust Company”) have entered into an Assignment Agreement with JPMorgan Chase, Bank, N.A. (“JPM”), JS Siloed Trust
(“JPM Company”), Cooperatieve Centrale Raiffeisen – Boerenleenbank B.A. “Rabobank International”, New York Branch (“Rabobank”) and Nieuw Amsterdam Receivables Corporation (“Rabobank
Company”), dated the date hereof (the “Assignment Agreement”), pursuant to which (i) JPM has transferred and assigned to SunTrust, and SunTrust has taken and assumed, interest in a portion of JPM’s rights and
obligations under the Receivables Purchase Agreement and the other Transaction Documents, (ii) JPM Company has transferred and assigned to SunTrust Company, and SunTrust Company has taken and assumed, interest in a portion of the JPM
Company’s rights and obligations under the Receivables Purchase Agreement and the other Transaction Documents, (iii) Rabobank has transferred and assigned to SunTrust, and SunTrust has taken and assumed, interest in a portion of
Rabobank’s rights and obligations under the Receivables Purchase Agreement and the other Transaction 

 AMENDMENT NO. 7 TO FIFTH
AMENDED AND RESTATED 
 RECEIVABLES PURCHASE AGREEMENT

 AND REAFFIRMATION OF PERFORMANCE UNDERTAKING 
  

 
Documents, and (iv) Rabobank Company has transferred and assigned to SunTrust Company, and SunTrust Company has taken and assumed, interest in a portion
of the Rabobank Company’s rights and obligations under the Receivables Purchase Agreement and the other Transaction Documents; 
 WHEREAS, the Sellers, the Servicers, the Companies, the Financial Institutions and the Agent desire to amend the Receivables Purchase Agreement and Provider desires to reaffirm its obligations under the Performance Undertakings, all as more
fully described herein. 
 NOW, THEREFORE, in consideration of the premises, and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 
 Section 1. Amendment to Receivables
Purchase Agreement. Subject to the terms and conditions set forth herein and upon satisfaction of the conditions precedent set forth in Section 3 hereof, the Receivables Purchase Agreement is hereby amended as follows: 
 (a) Section 1.1(b) of the Receivables Purchase Agreement is hereby amended by deleting such section in its entirety. 
 (b) Section 1.1 of the Receivables Purchase Agreement is hereby further amended by redesignating Section 1.1(c) thereof as
Section 1.1(b). 
 (c) Section 1.2 of the Receivables Purchase Agreement is hereby amended by deleting in its entirety the phrase
“the CL Company or by” where such phrase appears in clause (iv) of such section. 
 (d) Section 1.5 of the Receivables
Purchase Agreement is hereby amended by deleting such section in its entirety. 
 (e) Section 2.2 of the Receivables Purchase Agreement
is hereby amended by amending and restating such section in its entirety to read as follows: 
 Section 2.2
Collections Prior to Amortization. Prior to the Amortization Date, any Collections and/or Deemed Collections received by each Servicer shall be set aside and held in trust by such Servicer for the benefit of the Agent and the Purchasers for
the payment of any accrued and unpaid Aggregate Unpaids or for a Reinvestment as provided in this Section 2.2. If at any time any Collections and/or Deemed Collections are received by any Servicer prior to the Amortization Date,
(i) such Servicer shall set aside the Termination Percentage (hereinafter defined) of Collections and/or Deemed Collections evidenced by the Purchaser Interests of each Terminating Financial Institution and of each Company in a Terminating
Financial Institution’s Purchaser Group, shall set aside Collections to be used to effect any Aggregate Reduction in accordance with Section 1.3 and shall set aside amounts necessary to pay Obligations due on the next succeeding
Settlement Date and (ii) each Seller hereby requests and the Purchasers (other than any Terminating Financial Institutions and, to the extent 

  

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 AMENDMENT NO. 7 TO FIFTH
AMENDED AND RESTATED 
 RECEIVABLES PURCHASE AGREEMENT

 AND REAFFIRMATION OF PERFORMANCE UNDERTAKING 
  

 
applicable, any Company in a Terminating Financial Institution’s Purchaser Group) hereby agree to make, simultaneously with such receipt, a reinvestment
(each a “Reinvestment”) with that portion of the balance of each and every Collection and Deemed Collection received by any Servicer that is part of any Purchaser Interest (other than any Purchaser Interests of Terminating Financial
Institutions and, to the extent applicable, of any Company in a Terminating Financial Institution’s Purchaser Group), such that after giving effect to such Reinvestment, the amount of Capital of such Purchaser Interest immediately after such
receipt and corresponding Reinvestment shall be equal to the amount of Capital immediately prior to such receipt (but giving effect to any ratable reduction thereof pursuant to application of an Aggregate Reduction). On each Settlement Date prior to
the occurrence of the Amortization Date, the Servicers shall remit to the Agent’s or applicable Purchaser’s account the amounts set aside during the preceding Settlement Period that have not been subject to a Reinvestment and apply such
amounts (if not previously paid in accordance with Section 2.1) first, to reduce unpaid CP Costs, Yield and other Obligations and second, to reduce the Capital of all Purchaser Interests of Terminating Financial
Institutions and, to the extent applicable, of each Company in a Terminating Financial Institution’s Purchaser Group, applied ratably to such Terminating Financial Institution and each such Company according to its respective Termination
Percentage. If such Capital, CP Costs, Yield and other Obligations shall be reduced to zero, any additional Collections received by any Servicer (i) if applicable, shall be remitted to the Agent’s or applicable Purchaser’s account to
the extent required to fund any Aggregate Reduction on such Settlement Date and (ii) any balance remaining thereafter shall be remitted from such Servicer to the Sellers on such Settlement Date. Such Servicer shall use its reasonable best
efforts to remit all deposit amounts to the Agent’s or applicable Purchaser’s account no later than 12:00 noon (Chicago time) on such Settlement Date. Any such amounts not received by Agent or the applicable Purchaser by 1:00 pm (Chicago
time) shall be deemed to be received on the next succeeding Business Day. Each Terminating Financial Institution and each Company in such Terminating Financial Institution’s Purchaser Group shall be allocated a ratable portion of Collections
from its Termination Date until, with respect to a Terminating Financial Institution, such Terminating Financial Institution’s Capital, if any, shall be paid in full and, with respect to a related Company (i) if any Related Financial
Institution with respect to such Company continues to exist, the Capital of such Company is equal to the Company Purchase Limit (as reduced pursuant to Section 4.6(a)) of such Company or (ii) if there are no Related Financial
Institutions with respect to such Company, the Capital of such Company shall be paid in full. The applicable ratable portion shall be calculated, with respect to any Terminating Financial Institution or applicable Company, on the Termination Date of
each Terminating Financial Institution or applicable Company as a percentage equal to (i) the Capital of such Terminating Financial Institution or applicable Company outstanding on its Termination Date, divided by (ii) the Aggregate
Capital outstanding on such Termination Date (the “Termination Percentage”). Each Terminating Financial Institution’s and 
  

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 AMENDMENT NO. 7 TO FIFTH
AMENDED AND RESTATED 
 RECEIVABLES PURCHASE AGREEMENT

 AND REAFFIRMATION OF PERFORMANCE UNDERTAKING 
  

 
applicable Company’s Termination Percentage shall remain constant prior to the Amortization Date. On and after the Amortization Date, each Termination
Percentage shall be disregarded, and each Terminating Financial Institution’s and each applicable Company’s Capital shall be reduced ratably with all Financial Institutions and Companies in accordance with Section 2.3.

 (f) Section 2.4 of the Receivables Purchase Agreement is hereby amended by deleting in its entirety the phrase “and the
Term-out Period Advances” where such phrase appears at the end of the fourth paragraph of such section. 
 (g) Section 2.8 of the
Receivables Purchase Agreement is hereby amended by deleting such section in its entirety. 
 (h) Section 3.1 of the Receivables
Purchase Agreement is hereby amended by deleting in its entirety the phrase “the CL Company and each Purchaser Interest of” where such phrase appears in the third sentence of such section. 
 (i) Section 3.2 of the Receivables Purchase Agreement is hereby amended by amending and restating such section in its entirety to read as follows:

 Section 3.2 CP Costs Payments. On each Settlement Date, the Sellers shall pay to the applicable Company an
aggregate amount equal to all accrued and unpaid CP Costs in respect of the Capital associated with all Purchaser Interests of such Company due and payable on such Settlement Date. 
 (j) Section 3.4(a) of the Receivables Purchase Agreement is hereby amended by deleting in its entirety the last sentence of such section that
states: “In the case of Purchaser Interests of the CL Company, the Administrative Seller shall, with consultation from, and approval by, the CL Company (such approval not to be unreasonably withheld), from time to time request CP (Tranche)
Accrual Periods for the Purchaser Interests of the CL Company.” 
 (k) Section 4.1 of the Receivables Purchase Agreement is hereby
amended by deleting in its entirety the second sentence of such section that states: “Each Term-out Period Advance shall accrue Yield for each day during its Tranche Period at either the Term-out Period Advance Rate or the Alternate Base Rate
in accordance with the terms hereof.” 
 (l) Section 4.2 of the Receivables Purchase Agreement is hereby amended by
(i) deleting in its entirety the phrase “and each Term-out Period Advance of the Nonrenewing Financial Institutions” where such phrase appears therein and (ii) deleting its entirety the phrase “and Term-out Period
Advance” where such phrase appears therein. 
 (m) Section 4.3 is hereby amended by amending and restating such section in its
entirety to read as follows: 
 Section 4.3 Selection and Continuation of Tranche Periods. 
 (a) In the case of Purchaser Interests of any Financial Institution in the Purchaser Group of the JPMorgan Company, the Administrative
Seller shall (and 

  

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 AMENDMENT NO. 7 TO FIFTH
AMENDED AND RESTATED 
 RECEIVABLES PURCHASE AGREEMENT

 AND REAFFIRMATION OF PERFORMANCE UNDERTAKING 
  

 
following the occurrence and during the continuance of a Potential Amortization Event or an Amortization Event, shall with consultation from, and approval
by, the applicable Financial Institution), from time to time request Tranche Periods for the Purchaser Interests of such Financial Institutions. In the case of Purchaser Interests of any Financial Institution in the Purchaser Group of any Company
other than the JPMorgan Company, the Administrative Seller shall, with consultation from, and approval by, the applicable Financial Institution (such approval not to be unreasonably withheld), from time to time request Tranche Periods for the
Purchaser Interests of such Financial Institution. Notwithstanding the foregoing provisions of this subsection (a), if at any time the Financial Institutions shall have a Purchaser Interest, the Administrative Seller shall always request Tranche
Periods such that at least one Tranche Period shall end on the date specified in clause (A) of the definition of Settlement Date. 
 (b) The Administrative Seller or the applicable Financial Institution, upon notice to and consent by the other received at least three (3) Business Days prior to the end of a Tranche Period (the
“Terminating Tranche”) for any Purchaser Interest, may, effective on the last day of the Terminating Tranche: (i) divide any such Purchaser Interest into multiple Purchaser Interests, (ii) combine any such Purchaser
Interest with one or more other Purchaser Interests that have a Terminating Tranche ending on the same day as such Terminating Tranche or (iii) combine any such Purchaser Interest with a new Purchaser Interest to be purchased on the day such
Terminating Tranche ends, provided, that in no event may a Purchaser Interest of any Purchasers be combined with a Purchaser Interest of any other Purchaser. 
 (n) Section 4.4 is hereby amended by amending and restating such section in its entirety to read as follows: 
 Section 4.4 Financial Institution Discount Rates. The Administrative Seller may select the LIBO Rate or the Alternate Base Rate for each Purchaser Interest of the Financial Institutions. The Administrative
Seller shall: (i) at least three (3) Business Days prior to the expiration of any Terminating Tranche with respect to which the LIBO Rate is being requested as a new Discount Rate and (ii) at least one (1) Business Day prior to
the expiration of any Terminating Tranche with respect to which the Alternate Base Rate is being requested as a new Discount Rate, give the applicable Financial Institution irrevocable notice of the new Discount Rate for the Purchaser Interest
associated with such Terminating Tranche. The Administrative Seller shall use its reasonable best efforts to give such notice such that the applicable Financial Institution receives it no later than 12:00 noon (Chicago time) on the day such request
is being made. Any such request not received by the applicable Financial Institution by 1:00 pm (Chicago time) shall be deemed to be received on the next succeeding Business Day. Until the Administrative Seller gives notice to the applicable
Financial Institution of another Discount Rate, the initial Discount Rate for any Purchaser Interest transferred to the Financial Institutions pursuant to the terms and conditions 

  

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 AMENDMENT NO. 7 TO FIFTH
AMENDED AND RESTATED 
 RECEIVABLES PURCHASE AGREEMENT

 AND REAFFIRMATION OF PERFORMANCE UNDERTAKING 
  

 
hereof (or transferred to, or funded by, any Funding Source pursuant to any Funding Agreement or to or by any other Person) shall be the Alternate Base Rate.

 (o) Section 4.5 is hereby amended by amending and restating such section in its entirety to read as follows: 
 Section 4.5 Suspension of the LIBO Rate. 
 (a) If any Financial Institution notifies the Agent that it has determined that funding its Pro Rata Share of the Purchaser Interests of
the Financial Institutions in such Financial Institution’s Purchaser Group at the LIBO Rate would violate any applicable law, rule, regulation or directive of any governmental or regulatory authority, whether or not having the force of law, or
that (i) deposits of a type and maturity appropriate to match fund its Purchaser Interests at the LIBO Rate are not available or (ii) the LIBO Rate does not accurately reflect the cost of acquiring or maintaining a Purchaser Interest at
the LIBO Rate, then the Agent shall suspend the availability of the LIBO Rate for the Financial Institutions in such Financial Institution’s Purchaser Group and require Seller to select the Alternate Base Rate for any Purchaser Interest funded
by the Financial Institutions in such Financial Institution’s Purchaser Group accruing Yield at the LIBO Rate. 
 (b) If
less than all of the Financial Institutions in such Financial Institution’s Purchaser Group give a notice to the Agent pursuant to Section 4.5(a), each Financial Institution which gave such a notice shall be obliged, at the request
of the Administrative Seller, the Company in such Financial Institution’s Purchaser Group or the Agent, to assign all of its rights and obligations hereunder to (i) another Financial Institution in such Financial Institution’s
Purchaser Group or (ii) another funding entity nominated by the Administrative Seller or the Agent that is acceptable to the Company in such Financial Institution’s Purchaser Group and willing to participate in this Agreement through the
Liquidity Termination Date in the place of such notifying Financial Institution; provided that (i) the notifying Financial Institution receives payment in full, pursuant to an Assignment Agreement, of an amount equal to such notifying
Financial Institution’s Pro Rata Share of the Capital and Yield owing to all of the Financial Institutions in such Financial Institution’s Purchaser Group and all accrued but unpaid fees and other costs and expenses payable in respect of
its Pro Rata Share of the Purchaser Interests of the Financial Institutions in such Financial Institution’s Purchaser Group, and (ii) the replacement Financial Institution otherwise satisfies the requirements of
Section 12.1(b). 
  

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AMENDED AND RESTATED 
 RECEIVABLES PURCHASE AGREEMENT

 AND REAFFIRMATION OF PERFORMANCE UNDERTAKING 
  

 (p) Section 4.6 of the Receivables Purchase Agreement is hereby amended by amending and
restating such section in its entirety to read as follows: 
 Section 4.6 Extension of Liquidity Termination Date.

 (a) The Administrative Seller may request one or more 364-day extensions of the Liquidity Termination Date then in effect
by giving written notice of such request to the Agent (each such notice an “Extension Notice”) at least 90 days prior to the Liquidity Termination Date then in effect. After the Agent’s receipt of any Extension Notice, the
Agent shall promptly advise each Financial Institution of such Extension Notice. Each Financial Institution may, in its sole discretion, by a written irrevocable notice (a “Consent Notice”) given to the Agent on or prior to the 30th
day prior to the Liquidity Termination Date then in effect (such period from the date of the Extension Notice to such 30th day being referred to herein as the “Consent Period”), consent to such extension of such Liquidity
Termination Date; provided, however, that such extension shall not be effective with respect to a Financial Institution if such Financial Institution: (i) notifies the Agent during the Consent Period that such Financial
Institution does not wish to consent to such extension or (ii) fails to respond to the Agent within the Consent Period (each Financial Institution that does not wish to consent to such extension or fails to respond to the Agent within the
Consent Period is herein referred to as a “Nonrenewing Financial Institution”). If at the end of the Consent Period, there is no Nonrenewing Financial Institution then, the Liquidity Termination Date shall be irrevocably extended
until the date that is 364 days after the Liquidity Termination Date then in effect. If at the end of the Consent Period there is a Nonrenewing Financial Institution, then unless such Nonrenewing Financial Institution assigns its rights and
obligations hereunder pursuant to Section 4.6(b) (each such Nonrenewing Financial Institution whose rights and obligations under this Agreement and the other applicable Transaction Documents are not so assigned is herein referred to as a
“Terminating Financial Institution”), the then existing Liquidity Termination Date shall be extended for an additional 364 days with respect to all Financial Institutions other than the Terminating Financial Institution;
provided, however, that (i) the Purchase Limit shall be reduced on the Termination Date applicable to each Terminating Financial Institution by an aggregate amount equal to the Terminating Commitment Availability of each
Terminating Financial Institution and shall thereafter continue to be reduced by amounts equal to any reduction in the Capital of any Terminating Financial Institution (after application of Collections pursuant to Sections 2.2 and
2.3), (ii) the Company Purchase Limit of each Company shall be reduced by the aggregate amount of the Terminating Commitment Amount of each Terminating Financial Institution in such Company’s Purchaser Group and (iii) the
Commitment of each Terminating Financial Institution shall be reduced to zero on the Termination Date applicable to such Terminating Financial Institution. Upon reduction to zero of the Capital of all of the Purchaser Interests of a Terminating
Financial Institution (after application of Collections thereto pursuant to Sections 2.2 and 2.3) all rights and obligations of such Terminating Financial Institution hereunder shall be terminated and such Terminating Financial
Institution shall no longer be a “Financial Institution”; provided, however, that the provisions of Article X shall continue in effect for its benefit with respect to Purchaser Interests held by such Terminating
Financial Institution prior to its termination as a Financial Institution. 
  

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AMENDED AND RESTATED 
 RECEIVABLES PURCHASE AGREEMENT

 AND REAFFIRMATION OF PERFORMANCE UNDERTAKING 
  

 (b) Upon receipt of notice from the Agent pursuant to Section 4.6(a) of
any Nonrenewing Financial Institution, one or more of the Financial Institutions (including any Nonrenewing Financial Institution) may proffer to the Agent and the Company in such Nonrenewing Financial Institution’s Purchaser Group the names of
one or more institutions meeting the criteria set forth in Section 12.1(b)(i) that are willing to accept assignments of and assume the rights and obligations under this Agreement and the other applicable Transaction Documents of the
Nonrenewing Financial Institution. Provided the proffered name(s) are acceptable to the Agent and the Company in such Nonrenewing Financial Institution’s Purchaser Group, the Agent shall notify the remaining Financial Institutions of such fact,
and the then existing Liquidity Termination Date shall be extended for an additional 364 days upon satisfaction of the conditions for an assignment in accordance with Section 12.1, and the Commitment of each Nonrenewing Financial
Institution shall be reduced to zero. 
 (c) Any requested extension may be approved or disapproved by a Financial Institution
in its sole discretion. In the event that the Commitments are not extended in accordance with the provisions of this Section 4.6, the Commitment of each Financial Institution shall be reduced to zero on the Liquidity Termination Date.
Upon reduction to zero of the Commitment of a Financial Institution and upon reduction to zero of the Capital of all of the Purchaser Interests of such Financial Institution all rights and obligations of such Financial Institution hereunder shall be
terminated and such Financial Institution shall no longer be a “Financial Institution”; provided, however, that the provisions of Article X shall continue in effect for its benefit with respect to Purchaser Interests held by
such Financial Institution prior to its termination as a Financial Institution. 
 (q) Section 7.2(d) of the Receivables Purchase
Agreement is hereby amended by deleting in its entirety the phrase “upon or with respect to any Term-out Period Advance Account or any amounts from time to time on deposit therein or credited thereto,” where it appears in the first
sentence therein. 
 (r) Section 9.1(c) of the Receivables Purchase Agreement is hereby amended by amending and restating such section
in its entirety to read as follows: 
 (c) Failure of any Seller to pay any Indebtedness when due or the failure of any other
Seller Party or Provider to pay Indebtedness when due in excess of $50,000,000 or the default by any Seller Party or Provider in the performance of any term, provision or condition contained in any agreement under which any such Indebtedness was
created or is governed, the effect of which is to cause, or to permit the holder or holders of such Indebtedness to cause, such Indebtedness to become due prior to its stated maturity or any such Indebtedness of any Seller Party or Provider shall be
declared to be due and payable or required to be prepaid (other than by a regularly scheduled payment) prior to the date of maturity thereof. 
  

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AMENDED AND RESTATED 
 RECEIVABLES PURCHASE AGREEMENT

 AND REAFFIRMATION OF PERFORMANCE UNDERTAKING 
  

 (s) Section 9.2(a) of the Receivables Purchase Agreement is hereby amended by (i) deleting
in its entirety the text “(a)” where it appears at the beginning of such section and (ii) inserting the phrase “whereupon such Financial Institution shall be deemed to be a “Terminating Financial Institution” for all
purposes hereof,” after the phrase “may terminate its Commitment hereunder,” where such phrase appears in clause (B) therein. 
 (t) Section 9.2(b) of the Receivables Purchase Agreement is hereby amended by deleting such section in its entirety. 
 (u)
Section 10.2 of the Receivables Purchase Agreement is hereby amended by inserting the phrase “, after March 30, 2009 with respect to any Funding Source relating to the SunTrust Company,” immediately after the phrase “after
November 20, 2003 with respect to any Funding Source relating to the Rabo Company.” 
 (v) Section 12.1(c) of the Receivables
Purchase Agreement is hereby amended by (i) deleting in its entirety the phrase “, Term-out Period Advances” where such phrase appears therein, (ii) deleting in its entirety the phrase “or the Term-out Period Advances”
where such phrase appears therein and (iii) deleting in its entirety the phrase “Facility Termination Date” and replacing it with the phrase “Liquidity Termination Date.” 
 (w) Section 14.1 of the Receivables Purchase Agreement is hereby amended by (i) inserting the phrase “, the SunTrust Company”
immediately after the phrase “the commercial paper notes of the Rabo Company” every time such phrase appears therein and (ii) amending and restating clause (b)(i) of such section in its entirety to read as follows: 
 (i) without the consent of each affected Purchaser, (A) extend the Liquidity Termination Date or the date of any payment or deposit
of Collections by any Seller or any Servicer, (B) reduce the rate or extend the time of payment of Yield or any CP Costs (or any component of Yield or CP Costs), (C) reduce any fee payable to the Agent for the benefit of the Purchasers,
(D) except pursuant to Article XII hereof, change the amount of the Capital of any Purchaser, any Financial Institution’s Pro Rata Share, any Company’s Pro Rata Share, any Financial Institution’s Commitment or any
Company’s Company Purchase Limit (other than, to the extent applicable, pursuant to Section 4.6), (E) amend, modify or waive any provision of the definition of Required Purchasers or this Section 14.1(b),
(F) consent to or permit the assignment or transfer by any Seller of any of its rights and obligations under this Agreement, (G) change the definition of “Eligible Receivable,” “Loss Reserve,”
“Yield and Servicer Reserve,” “Default Ratio,” “Delinquency Ratio,” “Dilution Reserve,” or “Dilution Ratio” or amend or modify Section 9.1(f) or
(H) amend or modify any defined term (or any defined term used directly or indirectly in such defined term) used in clauses (A) through (G) above in a manner that would circumvent the intention of the restrictions set forth in such
clauses; or 
 (x) Section 14.5(b) of the Receivables Purchase Agreement is hereby amended by (i) inserting the phrase “, the
SunTrust Company Agent” immediately after the phrase “financial assets for which JPMorgan, Rabobank” where such phrase appears in clause (iii) of such section and (ii) inserting the following sentence at the end of such
section: 
 Notwithstanding any other express or implied agreement to the contrary, the parties agree and acknowledge that each of them and
each of their employees, representatives, and other agents may disclose to any and all persons, without limitation of any kind, the tax treatment and tax structure of the transaction and all materials of any kind (including opinions or other tax
analyses) that are provided to any of them relating to such tax treatment and tax structure, except to the extent that confidentiality is reasonably necessary to comply with U.S. federal or state securities laws. For purposes of this paragraph, the
terms “tax treatment” and “tax structure” have the meanings specified in Treasury Regulation Section 1.6011-4(c). 
  

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 AMENDMENT NO. 7 TO FIFTH
AMENDED AND RESTATED 
 RECEIVABLES PURCHASE AGREEMENT

 AND REAFFIRMATION OF PERFORMANCE UNDERTAKING 
  

 (y) Exhibit I to the Receivables Purchase Agreement is hereby amended as follows: 
 (i) by deleting in their entirety the definitions of “Applicable Percentage,” “Applicable Term-out Period Advance
Margin,” “Eligible Investments,” “Nonrenewing Amount,” “Nonrenewing Financial Institution Reduction,” “Nonrenewing Financial Institution Reduction Notice,” “Nonrenewing Financial Institution
Termination Date,” “Scheduled Liquidity Termination Date,” “Term-out Period Account,” “Term-out Period Account Funded Incremental Purchase,” “Term-out Period Advance,” “Term-out Period Advance
Rate,” and “Term-out Period”; 
 (ii) by amending the definition of “Aggregate Unpaids” by deleting
in its entirety the phrase “, any outstanding Term-out Period Advances” where it appears therein; 
 (iii) by
amending the definition of “Alternate Base Rate” by deleting in its entirety the phrase “plus the Applicable Term-out Period Advance Margin” and replacing it with the phrase “plus the Drawn Liquidity Spread”;

 (iv) by amending the definition of “Broken Funding Costs” by deleting in its entirety the phrase “any
Purchaser Interest of the CL Company or “ where such phrase appears in clause (B) of such definition; 
 (v) by
amending the definition of “Business Day” by inserting the phrase “, Atlanta, Georgia” after the phrase “New York, New York.”; 
 (vi) by amending the definition of “Capital” by deleting the last sentence of such definition that states: “For the
avoidance of doubt, Term-out Period Advances shall not constitute “Capital” hereunder but Term-out Period Account Funded Incremental Purchases shall constitute “Capital” hereunder”; 
  

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 AMENDMENT NO. 7 TO FIFTH
AMENDED AND RESTATED 
 RECEIVABLES PURCHASE AGREEMENT

 AND REAFFIRMATION OF PERFORMANCE UNDERTAKING 
  

 (vii) by amending the definition of “Commitment” by inserting the phrase
“(including, without limitation, any termination of Commitments pursuant to Section 4.6 hereof)” after the phrase “may be modified in accordance with the terms hereof”; 
 (viii) by amending the definition of “Company Costs” by amending and restating clause (iii) of such definition in its
entirety to read as follows: 
 (iii) for any Purchaser Interest purchased by the CL Company and funded substantially with
Pooled Commercial Paper, for any day, the sum of (i) discount or yield accrued on Pooled Commercial Paper on such day, plus (ii) any and all accrued commissions in respect of placement agents and Commercial Paper dealers, and issuing and
paying agent fees incurred, in respect of such Pooled Commercial Paper for such day, plus (iii) other costs associated with funding small or odd-lot amounts with respect to all receivable purchase facilities which are funded by Pooled
Commercial Paper for such day, minus (iv) any accrual of income net of expenses received on such day from investment of collections received under all receivable purchase facilities funded substantially with Pooled Commercial Paper, minus
(v) any payment received on such day net of expenses in respect of broken funding costs related to the prepayment of any purchaser interest of the CL Company pursuant to the terms of any receivable purchase facilities funded substantially with
Pooled Commercial Paper. In addition to the foregoing costs, if the Administrative Seller shall request any Incremental Purchase during any period of time determined by the CL Company (or by the CL Company’s agent on its behalf) in its sole
discretion to result in incrementally higher Company Costs with respect to the CL Company applicable to such Incremental Purchase by the CL Company, the Capital associated with any such Incremental Purchase shall, during such period, be deemed to be
funded by the CL Company in a special pool (which may include capital associated with other receivable purchase facilities) for purposes of determining such additional Company Costs applicable only to such special pool and charged each day during
such period against such Capital. Each Purchaser Interest funded substantially with Pooled Commercial Paper will accrue Company Costs with respect to the CL Company each day on a pro rata basis, based upon the percentage share the Capital in respect
of such Purchaser Interest represents in relation to all assets held by the CL Company and funded substantially with Pooled Commercial Paper. For each Settlement Period, the CL Company shall calculate its aggregate Company Costs for such Settlement
Period and report such Company Costs to the Administrative Seller pursuant to Section 3.3 of this Agreement; 
 (ix) by further amending the definition of “Company Costs” by (i) deleting the “.” at the end of clause (iv) and replacing it with the text “; and” and (ii) inserting the following clause
(v) at the end of such definition: 
 (v) for any Purchaser Interest purchased by the SunTrust Company, for any day, the
Capital of such Purchaser Interest multiplied by the per annum rate 

  

 11 

 AMENDMENT NO. 7 TO FIFTH
AMENDED AND RESTATED 
 RECEIVABLES PURCHASE AGREEMENT

 AND REAFFIRMATION OF PERFORMANCE UNDERTAKING 
  

 
equivalent to the weighted average of the per annum rates paid or payable by the SunTrust Company from time to time as interest on or otherwise (by means of
interest rate hedges or otherwise taking into consideration any incremental carrying costs associated with short-term promissory notes issued by SunTrust Company maturing on dates other than those certain dates on which SunTrust Company is to
receive funds) in respect of the promissory notes issued by SunTrust Company that are allocated, in whole or in part, by the SunTrust Company Agent (on behalf of SunTrust Company) to fund or maintain the SunTrust Company’s Capital of such
Purchaser Interest, as determined by SunTrust Company Agent (on behalf of SunTrust Company) and reported to Administrative Seller, which rates shall reflect and give effect to (1) the commissions of placement agents and dealers in respect of
such promissory notes, to the extent such commissions are allocated, in whole or in part, to such promissory notes by SunTrust Company Agent (on behalf of SunTrust Company) and (2) other borrowings by SunTrust Company, including, without
limitation, borrowings to fund small or odd dollar amounts that are not easily accommodated in the commercial paper market; provided, however, that if any component of such rate is a discount rate, in calculating the Company Costs, the
SunTrust Company Agent shall for such component use the rate resulting from converting such discount rate to an interest bearing equivalent rate per annum. Notwithstanding the foregoing, until such time as the SunTrust Company shall determine that
its Company Costs shall be allocated as set forth in (v) hereinabove, the SunTrust Company may, in its sole and absolute discretion, allocate Company Costs on a daily basis based upon its funding costs for overnight borrowings in the commercial
paper market, as determined by the SunTrust Company Agent on a reasonable basis (such determination to be conclusive, absent manifest error). For each Settlement Period, the SunTrust Company shall calculate its aggregate Company Costs for
such Settlement Period and report such Company Costs to the Administrative Seller pursuant to Section 3.3 of this Agreement. 
 (x) by amending the definition of “Company Purchase Limit” by inserting the phrase “(including Section 4.6(a))” after the phrase “may be modified in accordance with the terms
hereof”; 
 (xi) by amending the definition of “CP (Tranche) Accrual Period” by (i) deleting the
“(i)” at the beginning of such definition and (ii) deleting in its entirety the phrase “and (ii) with respect to any Purchaser Interest held by the CL Company, a period commencing on, and including, the date selected by CLNY
(as agent for the CL Company), or the last day of the immediately preceding CP (Tranche) Accrual Period for such Purchaser Interest (whichever is latest) and ending on, but excluding, the date that falls such number of days (of at least one day and
not to exceed 90 days) thereafter as CLNY (as agent for the CL Company) shall select (provided that not more than 10 CP (Tranche) Accrual Periods with respect to Purchaser Interests of the CL Company shall be in effect at any one time);”;

  

 12 

 AMENDMENT NO. 7 TO FIFTH
AMENDED AND RESTATED 
 RECEIVABLES PURCHASE AGREEMENT

 AND REAFFIRMATION OF PERFORMANCE UNDERTAKING 
  

 (xii) by amending the definition of “Default Fee” by deleting in its
entirety the phrase “2% above the Alternate Base Rate” at the end of the first sentence therein and replacing it with the phrase “3% above the Alternate Base Rate”; 
 (xiii) by amending the definition of “Dilution Reserve” by deleting in its entirety the formula “((2 X ED + ((DS-ED) X
(DS/ED))) X DHR) + MRA” and replacing it with the following formula: 
 ((Stress Factor X ED + ((DS-ED) X (DS/ED))) X
DHR) + MRA 
 (xiv) by amending the definition of “Incremental Purchase” by deleting in its entirety the phrase
“(including, without duplication, any Term-out Period Account Funded Incremental Purchase)” where it appears at the end of the first sentence therein; 
 (xv) by amending the definition of “LIBO Rate” by deleting in its entirety the phrase “the Applicable Percentage”
where it appears therein and replacing it with the phrase “Drawn Liquidity Spread”; 
 (xvi) by amending the
definition of “Loss Reserve Percentage” by deleting in its entirety the phrase “2 times the Loss Ratio” in the first sentence therein and replacing it with the phrase “the Stress Factor multiplied by the Loss Ratio”;

 (xvii) by amending the definition of “Pro Rata Share” by inserting the phrase “adjusted as necessary to
give effect to the application of the terms of Section 4.6” after the phrase “such Financial Institution’s Purchaser Group,”; 
 (xviii) by amending the definition of “Purchaser Interest” by deleting the last sentence of such definition that states:
“For the avoidance of doubt, “Capital” as used in this definition shall not include Term-out Period Advances but “Capital” as used in this definition shall include Term-out Period Account Funded Incremental Purchases.”;

 (xix) by amending the definition of “Settlement Date” by deleting in its entirety the phrase “and in
respect of each Purchaser Interest held by the CL Company” where such phrase appears therein; 
 (xx) by amending the
definition of “Settlement Period” by deleting in its entirety the phrase “and each Purchaser Interest of the CL Company” where such phrase appears therein; 
 (xxi) by amending the definition of “Tranche Period” by deleting in its entirety the phrase “or Term-out Period
Advance” every time such phrase appears therein; 
  

 13 

 AMENDMENT NO. 7 TO FIFTH
AMENDED AND RESTATED 
 RECEIVABLES PURCHASE AGREEMENT

 AND REAFFIRMATION OF PERFORMANCE UNDERTAKING 
  

 (xxii) by amending and restating the definitions of “Concentration Limit,”
“Discount Rate,” “Facility Termination Date,” “Federal Funds Effective Rate,” “Fee Letter,” “Liquidity Termination Date,” “Nonrenewing Financial Institution,” “Pool Company,”
“Purchase Limit,” “Yield” and “Yield and Servicer Reserve” in their entirety to read as follows: 
 “Concentration Limit” means, at any time, (a) for any Obligor other than an Obligor for which a Special Concentration Limit has been designated, 1.8% of the aggregate Outstanding Balance of all Eligible Receivables,
(b) for Wal-Mart Stores, Inc., 20%, or (c) for Sysco Corporation, 7%, and for any other Obligor designated by Agent, such other percentage as Agent may designate (each of the foregoing, a “Special Concentration Limit”);
provided, that in the case of an Obligor and any Affiliate of such Obligor, the Concentration Limit shall be calculated as if such Obligor and such Affiliate are one Obligor; and provided, further, that the Required Purchasers may, upon not less
than five Business Days’ notice to Seller, cancel any Special Concentration Limit. 
 “Discount Rate”
means the LIBO Rate or the Alternate Base Rate, as applicable, with respect to each Purchaser Interest of the Financial Institutions. 
 “Facility Termination Date” means the earlier of (i) the Liquidity Termination Date and (ii) the Amortization Date. 
 “Federal Funds Effective Rate” means for any day, the weighted
average (rounded upwards, if necessary, to the next  1/100 of 1%) of the rates on overnight Federal funds transactions with
members of the Federal Reserve System arranged by Federal funds brokers, as published on the next succeeding Business Day by the Federal Reserve Bank of New York, or, if such rate is not so published for any day that is a Business Day, the average
(rounded upwards, if necessary, to the next  1/100 of 1%) of the quotations for such day for such transactions received by the
Agent from three Federal funds brokers of recognized standing selected by it. Notwithstanding the foregoing, if any Financial Institution is borrowing overnight funds on any day from a Federal Reserve Bank to make or maintain such Financial
Institution’s funding of all or any portion of a Purchaser Interest hereunder, the Federal Funds Effective Rate, at the option of such Financial Institution, for such Financial Institution shall be the average rate per annum at which such
overnight borrowings are made on any such day. Each determination of the Federal Funds Rate shall be conclusive and binding on the Administrative Seller and the Seller Parties, except in the case of manifest error. 
 “Fee Letter” means each of (i) that certain letter agreement dated as of March 30, 2009 among each Seller, the
JPMorgan Company and JPMorgan, as it may be amended, restated, supplemented or otherwise modified and in effect from time to time, (ii) that certain letter agreement dated as of March 30, 2009 among each Seller, the CL Company and CLNY, as
it may be amended, restated, supplemented or otherwise modified and in effect from time to time, (iii) that certain letter agreement dated as of March 30, 2009 among each Seller, the Rabo 

  

 14 

 AMENDMENT NO. 7 TO FIFTH
AMENDED AND RESTATED 
 RECEIVABLES PURCHASE AGREEMENT

 AND REAFFIRMATION OF PERFORMANCE UNDERTAKING 
  

 
Company and Rabobank, as it may be amended, restated, supplemented or otherwise modified and in effect from time to time, and (iv) that certain letter
agreement dated as of March 30, 2009 among each Seller and SunTrust, as it may be amended, restated, supplemented or otherwise modified and in effect from time to time. 
 “Liquidity Termination Date” means March 29, 2010. 
 “Nonrenewing Financial Institution” has the meaning set forth in Section 4.6(a). 
 “Pool Company” means the JPMorgan Company, the Rabo Company, the CL Company and the SunTrust Company. 
 “Purchase Limit” means $600,000,000, as such amount may be modified in accordance with the terms of
Section 4.6(a). 
 “Yield” means for each respective Tranche Period relating to Purchaser
Interests of the Financial Institutions, an amount equal to the product of the applicable Discount Rate for each Purchaser Interest multiplied by the Capital of such Purchaser Interest for each day elapsed during such Tranche Period, annualized on a
360 day basis. 
 “Yield and Servicer Reserve” means, on any date an amount equal to, the greater of
(i) 2% of Net Receivables Balance as of the close of business on such date, or (ii) the sum of (x) ((LIBO plus Drawn Liquidity Spread) multiplied by ADSO Reserve) divided by 360, and (y) (Servicing Fee
multiplied by ADSO Reserve) divided by 360. 
 where: 
  

					
	 ADSO
	  	=	    	As of the last day of each calendar month, the highest three consecutive month average Days Sales Outstanding during the most recent twelve months preceding the last day of such calendar month.

			
	 ADSO Reserve
	  	=	    	ADSO multiplied by the Stress Factor

 (xxiii) by adding thereto the following new defined terms in proper alphabetical
order: 
 “Consent Notice” has the meaning set forth in Section 4.6(a). 
 “Consent Period” has the meaning set forth in Section 4.6(a). 
 “Days Sales Outstanding” means for each month an amount equal to the product of (a) the quotient of
(i) the Outstanding Balance of all Receivables calculated on the first day of such month as the beginning balance for such month divided by (ii) the aggregate amount of Collections of all Receivables received during such month,
multiplied by (b) 30. 
  

 15 

 AMENDMENT NO. 7 TO FIFTH
AMENDED AND RESTATED 
 RECEIVABLES PURCHASE AGREEMENT

 AND REAFFIRMATION OF PERFORMANCE UNDERTAKING 
  

 “Drawn Liquidity Spread” means 3%. 
 “Extension Notice” has the meaning set forth in Section 4.6(a). 
 “SunTrust” means SunTrust Bank, a Georgia banking corporation. 
 “SunTrust Company” means Three Pillars Funding LLC, a Delaware limited liability company, together with its successors
and assigns. 
 “SunTrust Company Agent” means SunTrust Robinson Humphrey, Inc., a Tennessee corporation,
together with its successors and assigns. 
 “Stress Factor” means a factor of 2.5 times. 
 “Terminating Commitment Amount” means, with respect to any Terminating Financial Institution, an amount equal to the
Commitment (without giving effect to clause (iii) of the proviso to the penultimate sentence of Section 4.6(a)) of such Terminating Financial Institution, minus, an amount equal to 2% of such Commitment. 
 “Terminating Commitment Availability” means, with respect to any Terminating Financial Institution, the positive
difference (if any) between (a) an amount equal to the Commitment (without giving effect to clause (iii) of the proviso to the penultimate sentence of Section 4.6(a)) of such Terminating Financial Institution, minus, an
amount equal to 2% of such Commitment minus (b) the Capital of the Purchaser Interests funded by such Terminating Financial Institution. 
 “Terminating Financial Institution” has the meaning set forth in Section 4.6(a). 
 “Termination Date” means, with respect to a Terminating Financial Institution and, if applicable, each Company in such Terminating Financial Institution’s Purchaser Group, the date on which such
Terminating Financial Institution became a Non-Renewing Financial Institution or, in the case of Section 9.2, the date such Financial Institution terminates its Commitment in accordance therewith. 
 “Termination Percentage” has the meaning set forth in Section 2.2. 
 (z) Exhibit II to the Receivables Purchase Agreement is hereby amended and restated in its entirety to read as set forth on Annex A hereto.

 (aa) Exhibit IV to the Receivables Purchase Agreement is hereby amended and restated in its entirety to read as set forth on Annex
B hereto. 
  

 16 

 AMENDMENT NO. 7 TO FIFTH
AMENDED AND RESTATED 
 RECEIVABLES PURCHASE AGREEMENT

 AND REAFFIRMATION OF PERFORMANCE UNDERTAKING 
  

 (bb) Schedule A to the Receivables Purchase Agreement is hereby amended and restated in its entirety
to read as set forth on Annex C hereto. 
 (cc) Schedule E to the Receivables Purchase Agreement is hereby amended and restated in
its entirety to read as set forth on Annex D hereto. 
 Section 2. Reaffirmation of Performance Guaranty. Provider
acknowledges the amendments to the Receivables Purchase Agreement effected hereby and reaffirms that its obligations under each of the Performance Undertakings and each other Transaction Document to which it is a party continue in full force and
effect with respect to the Receivables Purchase Agreement. 
 Section 3. Conditions to Effectiveness of Amendment. This Amendment
shall become effective as of the date hereof upon the satisfaction of the following conditions precedent: 
 (a) Amendment. The Agent
shall have received, on or before the date hereof, executed counterparts of this Amendment, duly executed by each of the parties hereto. 
 (b) Representations and Warranties. As of the date hereof, both before and after giving effect to this Amendment, all of the representations and warranties contained in the Receivables Purchase Agreement and in each other Transaction
Document shall be true and correct as though made on and as of the date hereof (and by its execution hereof, each Seller shall be deemed to have represented and warranted such). 
 (c) No Amortization Event or Potential Amortization Event. As of the date hereof, both before and after giving effect to this Amendment, no
Amortization Event or Potential Amortization Event shall have occurred and be continuing (and by its execution hereof, each Seller shall be deemed to have represented and warranted such). 
 (d) Reliance Letters. The Agent shall have received reliance letters addressed to SunTrust and SunTrust Company in respect of all opinions
previously delivered on behalf of Provider, Servicers and Sellers. 
 Section 4. Miscellaneous. 
 (a) Effect; Ratification. The amendments set forth herein are effective solely for the purposes set forth herein and shall be limited precisely
as written, and shall not be deemed to (i) be a consent to any amendment, waiver or modification of any other term or condition of the Receivables Purchase Agreement or of any other instrument or agreement referred to therein; or
(ii) prejudice any right or remedy which the Companies, the Financial Institutions or the Agent may now have or may have in the future under or in connection with the Receivables Purchase Agreement or any other instrument or agreement referred
to therein. Each reference in the Receivables Purchase Agreement to “this Agreement,” “herein,” “hereof” and words of like import and each reference in the other Transaction Documents to the “Receivables Purchase
Agreement” or to the “Purchase Agreement” or to the Receivables Purchase Agreement shall mean the Receivables Purchase Agreement, as amended hereby. This Amendment shall be 

  

 17 

 AMENDMENT NO. 7 TO FIFTH
AMENDED AND RESTATED 
 RECEIVABLES PURCHASE AGREEMENT

 AND REAFFIRMATION OF PERFORMANCE UNDERTAKING 
  

 
construed in connection with and as part of the Receivables Purchase Agreement and all terms, conditions, representations, warranties, covenants and
agreements set forth in the Receivables Purchase Agreement and each other instrument or agreement referred to therein, except as herein amended, are hereby ratified and confirmed and shall remain in full force and effect. 
 (b) Transaction Documents. This Amendment is a Transaction Document executed pursuant to the Receivables Purchase Agreement and shall be
construed, administered and applied in accordance with the terms and provisions thereof. 
 (c) Costs, Fees and Expenses. Each Seller
agrees to reimburse the Agent and the Purchasers upon demand for all costs, fees and expenses (including the reasonable fees and expenses of counsels to the Agent and the Purchasers and the cost of rating the Commercial Paper by independent
financial rating agencies) incurred in connection with the preparation, execution and delivery of this Amendment. 
 (d)
Counterparts. This Amendment may be executed in any number of counterparts, each such counterpart constituting an original and all of which when taken together shall constitute one and the same instrument. 
 (e) Severability. Any provision contained in this Amendment which is held to be inoperative, unenforceable or invalid in any jurisdiction shall,
as to that jurisdiction, be inoperative, unenforceable or invalid without affecting the remaining provisions of this Amendment in that jurisdiction or the operation, enforceability or validity of such provision in any other jurisdiction. 

(f) GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF ILLINOIS.

 (Signature Pages Follow) 
  

 18 

 AMENDMENT NO. 7 TO FIFTH
AMENDED AND RESTATED 
 RECEIVABLES PURCHASE AGREEMENT

 AND REAFFIRMATION OF PERFORMANCE UNDERTAKING 
  

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

			
	DAIRY GROUP RECEIVABLES, L.P., as a Seller
		
	By:	 	Dairy Group Receivables GP, LLC
	Its:	 	General Partner
	
	DAIRY GROUP II RECEIVABLES II, L.P., as a Seller
		
	By:	 	Dairy Group Receivables GP II, LLC
	Its:	 	General Partner
	
	WHITEWAVE RECEIVABLES, L.P., as a Seller
		
	By:	 	WhiteWave Receivables GP, LLC
	Its:	 	General Partner
		
	By:	 	 /s/ Timothy A. Smith

	Name:	 	Tim Smith
	Title:	 	President and Treasurer

  

 S-1 

 AMENDMENT NO. 7 TO FIFTH
AMENDED AND RESTATED 
 RECEIVABLES PURCHASE AGREEMENT

 AND REAFFIRMATION OF PERFORMANCE UNDERTAKING 
  

			
	 JS SILOED TRUST, as a Company

		
	By:	 	JPMorgan Chase Bank, N.A. (successor by merger to Bank One, NA (Main Office Chicago)),
	Its:	 	Attorney-In-Fact
		
	By:	 	 /s/ Joel C. Gedroic

	Name:	 	Joel C. Gedroic
	Title:	 	Executive Director
	
	JPMORGAN CHASE BANK, N.A. (successor by merger to Bank One, NA (Main Office Chicago)), as a Financial Institution and as Agent
		
	By:	 	 /s/ Joel C. Gedroic

	Name:	 	Joel C. Gedroic
	Title:	 	Executive Director

  

 S-2 

 AMENDMENT NO. 7 TO FIFTH
AMENDED AND RESTATED 
 RECEIVABLES PURCHASE AGREEMENT

 AND REAFFIRMATION OF PERFORMANCE UNDERTAKING 
  

			
	ATLANTIC ASSET SECURITIZATION LLC (formerly Atlantic Asset Securitization Corp.), as a Company
		
	By:	 	Calyon New York Branch (successor to
		 	Credit Lyonnais New York Branch)
	Its:	 	Attorney-In-Fact
		
	By:	 	 /s/ Kostantina Kourmpetis

	Name:	 	Kostantina Kourmpetis
	Title:	 	Managing Director
		
	By:	 	 /s/ Sam Pilcer

	Name:	 	Sam Pilcer
	Title:	 	Managing Director
	
	CALYON NEW YORK BRANCH (successor to Credit Lyonnais New York Branch), as a Financial Institution
		
	By:	 	 /s/ Kostantina Kourmpetis

	Name:	 	Kostantina Kourmpetis
	Title:	 	Managing Director
		
	By:	 	 /s/ Sam Pilcer

	Name:	 	Sam Pilcer
	Title:	 	Managing Director

  

 S-3 

 AMENDMENT NO. 7 TO FIFTH
AMENDED AND RESTATED 
 RECEIVABLES PURCHASE AGREEMENT

 AND REAFFIRMATION OF PERFORMANCE UNDERTAKING 
  

			
	NIEUW AMSTERDAM RECEIVABLES CORPORATION, as a Company
		
	By:	 	 /s/ Damian A. Perez

	Name:	 	Damian A. Perez
	Title:	 	Vice President
	
	COOPERATIEVE CENTRALE RAIFFEISEN - BOERENLEENBANK B.A. “Rabobank International”, New York Branch, as a Financial Institution
		
	By:	 	 /s/ Christopher Lew

	Name:	 	Christopher Lew
	Title:	 	Vice President
		
	By:	 	 /s/ Brett Delfino

	Name:	 	Brett Delfino
	Title:	 	Executive Director

  

 S-4 

 AMENDMENT NO. 7 TO FIFTH
AMENDED AND RESTATED 
 RECEIVABLES PURCHASE AGREEMENT

 AND REAFFIRMATION OF PERFORMANCE UNDERTAKING 
  

			
	 THREE PILLARS FUNDING LLC, as a Company

		
	By:	 	 /s/ Doris J. Hearn

	Name:	 	Doris J. Hearn
	Title:	 	Vice President
	
	SUNTRUST BANK, as a Financial Institution
		
	By:	 	 /s/ M. Gabe Bonfield

	Name:	 	M. Gabe Bonfield
	Title:	 	Vice President
	
	SUNTRUST ROBINSON HUMPHREY, INC., as SunTrust Company Agent
		
	By:	 	 /s/ Kecia P. Howson

	Name:	 	Kecia P. Howson
	Title:	 	Director

  

 S-5 

 AMENDMENT NO. 7 TO FIFTH
AMENDED AND RESTATED 
 RECEIVABLES PURCHASE AGREEMENT

 AND REAFFIRMATION OF PERFORMANCE UNDERTAKING 
  

			
	 DEAN FOODS COMPANY, as Provider

		
	By:	 	 /s/ Timothy A. Smith

	Name:	 	Tim Smith
	Title:	 	Vice President and Treasurer
	
	DEAN DAIRY HOLDINGS, LLC, as an Additional Servicer
	SUIZA DAIRY GROUP, LLC, as an Additional Servicer
		
	By:	 	 /s/ Timothy A. Smith

	Name:	 	Tim Smith
	Title:	 	Vice President and Treasurer
	
	31 LOGISTICS, LLC, as a Servicer
	ALTA-DENA CERTIFIED DAIRY, LLC, as a Servicer
	BARBER ICE CREAM, LLC, as a Servicer
	BARBER MILK, LLC, as a Servicer
	BERKELEY FARMS, LLC, as a Servicer
	COUNTRY FRESH, LLC, as a Servicer
	CREAMLAND DAIRIES, LLC, as a Servicer
	DEAN EAST, LLC, as a Servicer
	DEAN EAST II, LLC, as a Servicer
	DEAN FOODS COMPANY OF CALIFORNIA, LLC, as a Servicer
	DEAN FOODS NORTH CENTRAL, LLC, as a Servicer
	DEAN MILK COMPANY, LLC, as a Servicer
	DEAN SOCAL, LLC, as a Servicer
	DEAN WEST, LLC, as a Servicer
	DEAN WEST II, LLC, as a Servicer
	FAIRMONT DAIRY, LLC, as a Servicer
	FRIENDSHIP DAIRIES, LLC, as a Servicer
	GANDY’S DAIRIES, LLC, as a Servicer
	GARELICK FARMS, LLC (f/k/a SUIZA GTL, LLC), as a Servicer
	KOHLER MIX SPECIALTIES OF MINNESOTA, LLC, as a Servicer
	KOHLER MIX SPECIALTIES, LLC, as a Servicer
		
	By:	 	 /s/ Timothy A. Smith

	Name:	 	Tim Smith
	Title:	 	Vice President and Treasurer

  

 S-6 

 AMENDMENT NO. 7 TO FIFTH
AMENDED AND RESTATED 
 RECEIVABLES PURCHASE AGREEMENT

 AND REAFFIRMATION OF PERFORMANCE UNDERTAKING 
  

			
	LAND-O-SUN DAIRIES, LLC, as a Servicer
	LIBERTY DAIRY COMPANY, as a Servicer
	MAYFIELD DAIRY FARMS, LLC, as a Servicer
	MCARTHUR DAIRY, LLC, as a Servicer
	MEADOW BROOK DAIRY COMPANY, as a Servicer
	MIDWEST ICE CREAM COMPANY, LLC, as a Servicer
	MODEL DAIRY, LLC, as a Servicer
	MORNINGSTAR FOODS, LLC, as a Servicer
	NEW ENGLAND DAIRIES, LLC, as a Servicer
	PURITY DAIRIES, LLC, as a Servicer
	REITER DAIRY, LLC, as a Servicer
	ROBINSON DAIRY, LLC, as a Servicer
	SHENANDOAH’S PRIDE, LLC, as a Servicer
	SOUTHERN FOODS GROUP, LLC, as a Servicer
	SWISS II, LLC, as a Servicer
	T.G. LEE FOODS, LLC, as a Servicer
	TERRACE DAIRY, LLC, as a Servicer
	TUSCAN/LEHIGH DAIRIES, INC., as a Servicer
	VERIFINE DAIRY PRODUCTS OF SHEBOYGAN, LLC, as a Servicer
	WHITEWAVE FOODS COMPANY, as a Servicer
		
	By:	 	 /s/ Timothy A. Smith

	Name:	 	Tim Smith
	Title:	 	Vice President and Treasurer

  

 S-7 

 Annex A 
 EXHIBIT II 
 FORM OF PURCHASE NOTICE 
 [Date] 
  

							
	 JPMorgan Chase Bank, N.A. (successor by
 merger to Bank One, NA (Main Office Chicago)),
 as Agent
 10 S. Dearborn, 19th Floor
 Mail Code IL1-0079
 Asset-Backed Finance
 Chicago, Illinois 60603-0079
	    	 JS Siloed Trust
 c/o JPMorgan Chase Bank,
N.A. (successor
 by merger to Bank One, NA (Main Office Chicago)),
 as Agent
 10 S. Dearborn
 Mail Code IL10594

Chicago, Illinois 60603-0594

	Attention:	 	Transaction Management	    	Attention:	  	Funding Manager
		
	 Calyon New York Branch (formerly Credit
 Lyonnais New York Branch)
 1301 Avenue of the Americas
 17th Floor
 New York, New York 10019
	    	 Atlantic Asset Securitization LLC
 (formerly
Atlantic Asset Securitization Corp.)
 c/o Calyon New York Branch
 1301 Avenue of the Americas
 17th Floor

	Attention:	 	Tina Kourmpetis	    	New York, New York 10019
		 		    	Attention:	  	Tina Kourmpetis
		
	 Cooperatieve Centrale Raiffeisen—
 Boerenleenbank B.A. “Rabobank International”,
 New York Branch
 245 Park Avenue, 37th Floor
 New York, NY 10167
	    	 Nieuw Amsterdam Receivables
 Corporation
 c/o Global Securitization Services
 68
South Service Road, Suite 120
 Melville, NY 11747

	Attention:	 	Transaction Management	    	Attention:	  	Tony Wong
	Email:	 	naconduit@rabobank.com	    	Email:	  	twong@gssnyc.com
	Fascimile:	 	(914) 287-2254	    	Fascimile:	  	(212) 302-8767
		
	 SunTrust Bank
 303 Peachtree Street
NE
 3rd Floor, Mail Code 1922
 Atlanta, GA 30308
	    	 Three Pillars Funding LLC
 c/o STRH
Controller’s Group
 303 Peachtree Street
 25th Floor, Mail
Code 3906

	Attention:	 	Gabe Bonfield	    	Atlanta, GA 30308
	Phone:	 	404-588-8711	    	Phone:	  	404-813-0809
	Fax:	 	404-575-2693	    	Fax:	  	404-658-4052

 Re:     PURCHASE NOTICE 
 Ladies and Gentlemen: 
 Reference is hereby made to the Fifth Amended and Restated Receivables Purchase
Agreement, dated as of April 2, 2007, by and among Dairy Group Receivables, 

  

 Annex A-1 

 AMENDMENT NO. 7 TO FIFTH
AMENDED AND RESTATED 
 RECEIVABLES PURCHASE AGREEMENT

 AND REAFFIRMATION OF PERFORMANCE UNDERTAKING 
  

 
L.P., Dairy Group Receivables II, L.P. and WhiteWave Receivables, L.P., as Sellers, the Servicers party thereto, the Financial Institutions party thereto,
the Companies party thereto, and JPMorgan Chase Bank, N.A. (successor by merger to Bank One, NA (Main Office Chicago)), as Agent (as amended, restated, supplemented or otherwise modified from time to time, the “Receivables Purchase
Agreement”). Capitalized terms used herein shall have the meanings assigned to such terms in the Receivables Purchase Agreement. 
 The
Agent and the Purchasers are hereby notified of the following Incremental Purchase: 
  

			
	 Purchase Price:
	 	$
	 Date of Purchase:
	 	
	 Requested Discount Rate:
	 	[LIBO Rate] [Alternate Base Rate] [Commercial Paper rate]

 Please credit the Purchase Price in immediately available funds to our Facility Account on the
above-specified date of purchase as set forth below: 
 [Account Name] 
 [Account No.] 
 [Bank Name & Address] 
 [ABA #]

 Reference: 
 Telephone advice to: [Name] @ tel. No. ( )

 Please advise [Name] at telephone no ( )
                     if any Company will not be making this purchase. 
 In connection with the Incremental Purchase to be made on the above listed “Date of Purchase” (the “Purchase Date”), the Administrative Seller hereby certifies that the following statements are
true on the date hereof, and will be true on the Purchase Date (before and after giving effect to the proposed Incremental Purchase): 
 (i)
the representations and warranties of each Seller set forth in Section 5.1 of the Receivables Purchase Agreement are true and correct on and as of the Purchase Date as though made on and as of such date; 
 (ii) no event has occurred and is continuing, or would result from the proposed Incremental Purchase, that will constitute an Amortization Event or a
Potential Amortization Event; 
 (iii) the Facility Termination Date has not occurred, the Aggregate Capital does not exceed the Purchase
Limit and the aggregate Purchaser Interests do not exceed 100%; and 
 (iv) the amount of Aggregate Capital is
$                 after giving effect to the Incremental Purchase to be made on the Purchase Date. 
  

 Annex A-2 

 AMENDMENT NO. 7 TO FIFTH
AMENDED AND RESTATED 
 RECEIVABLES PURCHASE AGREEMENT

 AND REAFFIRMATION OF PERFORMANCE UNDERTAKING 
  

			
	 Very truly yours,

	
	DAIRY GROUP RECEIVABLES, L.P., as Administrative Seller
		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	

  

 Annex A-3 

 AMENDMENT NO. 7 TO FIFTH
AMENDED AND RESTATED 
 RECEIVABLES PURCHASE AGREEMENT

 AND REAFFIRMATION OF PERFORMANCE UNDERTAKING 
  

 Annex C 
 SCHEDULE A 
 COMMITMENTS, COMPANY PURCHASE LIMITS, 
 PAYMENT ADDRESSES AND RELATED FINANCIAL INSTITUTIONS 
 Commitments and Payment Addresses
of Financial Institutions 
  

						
	 Financial Institution
	  	Commitment	  	 Payment Address

	JPMorgan Chase Bank, National Association (successor by merger to Bank One, NA (Main Office Chicago))	  	$	193,800,000	  	 JPMorgan Chase Bank,
 National Association Asset Backed
Finance
 Mail Code IL1-0594
 10 S. Dearborn
 Chicago, Illinois 60603-0594
 Fax: (312) 732-1844

	Calyon New York Branch (successor to Credit Lyonnais New York Branch)	  	$	122,400,000	  	 1301 Avenue of the Americas
 17th Floor
 New York, New York 10019

	Cooperatieve Centrale Raiffeisen—Boerenleenbank B.A. “Rabobank International”, New York Branch	  	$	193,800,000	  	 245 Park Avenue
 New York, NY 10167

	SunTrust Bank	  	$	102,000,000	  	 303 Peachtree Street NE
 3rd Floor, Mail Code
1922
 Atlanta, GA 30308
 Attention: Gabe Bonfield
 Phone: 404-588-8711
 Fax: 404-575-2693

  

 Annex C-1 

 AMENDMENT NO. 7 TO FIFTH
AMENDED AND RESTATED 
 RECEIVABLES PURCHASE AGREEMENT

 AND REAFFIRMATION OF PERFORMANCE UNDERTAKING 
  

 SCHEDULE A (CONT’D) 
 Company Purchase Limits, Payment Addresses and 
 Related Financial Institutions of Companies 
  

								
	 Company
	  	Company
Purchase Limit	  	 Payment Address
	  	 Related Financial Institution(s)

	JS Siloed Trust	  	$	190,000,000	  	 c/o JPMorgan Chase Bank,
 National Association, as Agent

 Asset Backed Finance
 Mail Code IL1-0594
 10 S. Dearborn
 Chicago, Illinois 60603-0594
 Fax: (312) 732-1844
	  	JPMorgan Chase Bank, National Association (successor by merger to Bank One, NA (Main Office Chicago))
	Atlantic Asset Securitization LLC (formerly Atlantic Asset Securitization Corp.)	  	$	120,000,000	  	 c/o Calyon New York Branch
 1301 Avenue of the Americas

 17th Floor
 New York, New York 10019
	  	Calyon New York Branch (successor to Credit Lyonnais New York Branch)
	Nieuw Amsterdam Receivables Corporation	  	$	190,000,000	  	 c/o Global Securitization Services
 68 South Service Road
Suite 120
 Melville, NY 11747
	  	Cooperatieve Centrale Raiffeisen - Boerenleenbank B.A. “Rabobank International”, New York Branch
	Three Pillars Funding LLC	  	$	100,000,000	  	 c/o STRH Controller’s Group
 303 Peachtree Street

 25th Floor, Mail Code 3906
 Atlanta, GA 30308
 Phone: 404-813-0809
 Fax: 404-658-4052
	  	SunTrust Bank

  

 Annex C-2 

 AMENDMENT NO. 7 TO FIFTH
AMENDED AND RESTATED 
 RECEIVABLES PURCHASE AGREEMENT

 AND REAFFIRMATION OF PERFORMANCE UNDERTAKING 
  

 Annex D 
 SCHEDULE E 
 NOTICE ADDRESSES 
  

			
	 The Agent:
  
 JPMorgan Chase Bank, N.A., as Agent
 10 S. Dearborn
 Mail Code IL1-0079
 Chicago, Illinois 60603-0079
 Attention: Transaction Management
 Facsimile: (312) 732-2245
	  	 JPMorgan Company:
  
 JS Siloed Trust
 c/o JPMorgan Chase Bank, N.A., as Agent
 10 S. Dearborn
 Mail Code IL1-0594
 Chicago, Illinois 60603-0594
 Attention: Funding Manager
 Facsimile: (312) 732-1844

		
	 CLNY:
  
 Calyon New York Branch (formerly Credit Lyonnais
 New York Branch)
 1301 Avenue of the Americas
 17th Floor
 New York, New York 10019
 Attention: Tina Kourmpetis
 Facsimile:
	  	 CL Company:
  
 Atlantic Asset Securitization LLC (formerly Atlantic Asset Securitization Corp.)
 c/o Calyon New York Branch
 1301 Avenue of the Americas
 17th Floor
 New York, New York 10019
 Attention: Tina Kourmpetis
 Facsimile:

		
	 Rabobank:
  
 Cooperatieve Centrale Raiffeisen—Boerenleenbank B.A. “Rabobank International”, New York Branch
 245 Park
Avenue, 37th Floor
 New York, NY 10167
 Attention: Transaction Management
 Email: naconduit@rabobank.com
 Facsimile: (914) 287-2254
	  	 Rabo Company:
  
 Nieuw Amsterdam Receivables Corporation
 c/o Global Securitization Services
 68 South Service Road, Suite 120
 Melville, NY 11747
 Attention: Tony Wong
 Email: twong@gssnyc.com
 Facsimile: (212) 302-8767

  

 Annex D-1 

 AMENDMENT NO. 7 TO FIFTH
AMENDED AND RESTATED 
 RECEIVABLES PURCHASE AGREEMENT

 AND REAFFIRMATION OF PERFORMANCE UNDERTAKING 
  

			
	 SunTrust:
  
 SunTrust Bank
 303 Peachtree Street NE
 3rd Floor, Mail Code 1922
 Atlanta, GA 30308
 Attention:
Gabe Bonfield
 Phone: 404-588-8711
 Fax:
404-575-2693
	  	 SunTrust Company:
  
 Three Pillars Funding LLC
 c/o STRH Controller’s Group
 303 Peachtree Street
 25th Floor, Mail Code 3906
 Atlanta, GA 30308
 Phone: 404-813-0809
 Fax: 404-658-4052

		
		  	 SunTrust Company Agent:
  
 SunTrust Robinson Humphrey, Inc.
 303 Peachtree Street NE
 23rd Floor, Mail Code 3950
 Atlanta, GA 30308
 Attention: Kecia Howson
 Phone: 404-813-5207
 Fax: 404-813-0000

		
	 Seller and each Seller Party:
  
 See Exhibit III under the heading “Principal Place of Business”
	  	

  

 Annex D-2Amended and Restated Registration Rights Agreement

 EXECUTION COPY 
 Exhibit 10.28 
 PALM, INC. 
 AMENDED AND RESTATED 
 REGISTRATION RIGHTS AGREEMENT 
 Dated as of January 9, 2009 

 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page
	 ARTICLE I DEFINITIONS
	  	2
			
	 SECTION 1.1.
	  	Certain Defined Terms	  	2
	 SECTION 1.2.
	  	Other Capitalized Terms	  	2
	 SECTION 1.3.
	  	Effectiveness of this Agreement	  	2
		
	 ARTICLE II REGISTRATION RIGHTS
	  	2
			
	 SECTION 2.1.
	  	Piggyback Registrations	  	2
	 SECTION 2.2.
	  	Demand Registration	  	4
	 SECTION 2.3.
	  	Exceptions to the Company’s Obligations	  	7
	 SECTION 2.4.
	  	Registration Procedures	  	9
	 SECTION 2.5.
	  	Information Supplied	  	13
	 SECTION 2.6.
	  	Expenses	  	13
	 SECTION 2.7.
	  	Restrictions on Disposition	  	13
	 SECTION 2.8.
	  	Indemnification	  	13
	 SECTION 2.9.
	  	Required Reports	  	16
	 SECTION 2.10.
	  	Selection of Counsel	  	17
	 SECTION 2.11.
	  	Market Standoff Agreement	  	17
	 SECTION 2.12.
	  	No Inconsistent Agreements; No Free Writing Prospectuses	  	17
	 SECTION 2.13.
	  	Termination of Registration Rights	  	17
		
	 ARTICLE III MISCELLANEOUS
	  	18
			
	 SECTION 3.1.
	  	Expenses	  	18
	 SECTION 3.2.
	  	Successors and Assigns; Assignment	  	18
	 SECTION 3.3.
	  	No Third Party Beneficiaries	  	18
	 SECTION 3.4.
	  	Entire Agreement	  	18
	 SECTION 3.5.
	  	Severability	  	18
	 SECTION 3.6.
	  	Amendment and Waiver	  	18
	 SECTION 3.7.
	  	Delays or Omissions	  	19
	 SECTION 3.8.
	  	Notices	  	19
	 SECTION 3.9.
	  	Interpretation	  	19
	 SECTION 3.10.
	  	Governing Law; Jurisdiction; Waiver of Jury Trial	  	20
	 SECTION 3.11.
	  	No Special Damages	  	20
	 SECTION 3.12.
	  	Counterparts	  	21

  

 -i- 

 AMENDED AND RESTATED 
 REGISTRATION RIGHTS AGREEMENT 
 THIS AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT (this
“Agreement”) is entered as of January 9, 2009, among Palm, Inc. a Delaware corporation (together with any other issuer of Registrable Securities, the “Company”), Elevation Partners, L.P., a Delaware limited
partnership (“Elevation”), and Elevation Employee Side Fund, LLC, a Delaware limited liability company (together with Elevation and their respective Permitted Transferees, the “Investor Stockholders”). 

RECITALS 
 WHEREAS, the Company and
Elevation entered into a Preferred Stock Purchase Agreement and Agreement and Plan of Merger, dated as of June 1, 2007, pursuant to which the Investor Stockholders purchased an aggregate of 325,000 shares (the “Series B Purchased
Shares”) of the Company’s Series B Preferred Stock (as defined below) for an aggregate purchase price of $325 million on October 24, 2007; 
 WHEREAS, in connection with the sale and issuance of the Series B Preferred Stock, the Company and the Investor Stockholders entered into a Registration Rights Agreement (the “Original Agreement”)
dated as of October 24, 2007, whereby the Company granted Investor Stockholders certain registration rights with respect to the Series B Conversion Shares (as defined below); 
 WHEREAS, the Company and Elevation have entered into a Securities Purchase Agreement, dated as of December 22, 2008 (as amended from time to time in
accordance with the provisions thereof, the “Securities Purchase Agreement”), pursuant to which the Investor Stockholders have agreed, on the terms and subject to the conditions set forth in such Securities Purchase Agreement, to
purchase an aggregate of 100,000 shares (the “Series C Purchased Shares,” and together with the Series B Purchased Shares, the “Purchased Shares”) of the Company’s Series C Preferred Stock (as defined below)
and Warrants (as defined below) exercisable for 7,000,000 Warrant Shares (as defined below) for an aggregate purchase price of $100 million in accordance with the terms of the Securities Purchase Agreement; and 
 WHEREAS, the parties hereto desire to enter into this Agreement in order to (i) amend and restate the Original Agreement in its entirety as set
forth herein and (ii) enter into certain arrangements relating to the Company, the Purchased Shares, the Conversion Shares (as defined below) and the Warrants. 

 NOW, THEREFORE, in consideration of the foregoing recitals and of the mutual promises hereinafter set
forth, the parties hereto agree as follows: 
 ARTICLE I 
 DEFINITIONS 
 SECTION 1.1. Certain Defined Terms. Certain terms used herein shall
have the meanings given to them in Exhibit A. 
 SECTION 1.2. Other Capitalized Terms. Capitalized terms used but not
defined herein or in Exhibit A shall have the meanings given to them in the Securities Purchase Agreement. 
 SECTION 1.3.
Effectiveness of this Agreement. This Agreement amends and restates certain provisions of the Original Agreement and restates the terms of the Original Agreement in their entirety. All amendments to the Original Agreement effected by this
Agreement, and all other covenants, agreements, terms and provisions of this Agreement shall have effect as of the Closing unless expressly stated otherwise. Notwithstanding any other provision to the contrary in this Agreement, this Agreement shall
not take effect until the Closing, and in the event the Securities Purchase Agreement is terminated, this Agreement shall be void ab initio and the Original Agreement shall remain in full force and effect. 
 ARTICLE II 
 REGISTRATION RIGHTS

 SECTION 2.1. Piggyback Registrations. If the Company proposes to register Equity Securities under the Securities Act
(other than a registration on Form S-4 or Form S-8, or any successor or other forms promulgated for similar purposes, and other than demand registrations pursuant to Section 2.2) involving the offering of such Equity Securities at any time
on or after the last day of the Restricted Period (the “Restricted Period Termination Date”), whether or not for sale for its own account, in a manner which would permit registration of Registrable Securities of the same class of
such Equity Securities for sale to the public under the Securities Act, it will, at each such time, give prompt written or telephonic notice (a “Piggyback Offering Notice”) to the Holders of: its intention to do so, the form on
which the Company expects to effect such registration (e.g. Form S-1, Form S-3, Form S-3ASR), the anticipated filing date with the SEC of such registration statement, the anticipated date that the registration statement will be declared or
otherwise become effective, whether the offering is to be underwritten, in the case of Form S-3 or Form S-3ASR, the anticipated date and time that the offering will be made. The registration rights provided for in this Section 2.1 are in
addition to, and not in lieu of, registrations made upon the demand of any Holder in accordance with Section 2.2. 
 (a) Form
S-1. If the Company indicates in the Piggyback Offering Notice that it intends to effect a registration pursuant to Form S-1, upon the written request of any Holder (which request shall specify the Registrable Securities intended to be
registered by such Holder), made within ten (10) days after the receipt of any such notice but in no event later than two (2) Business Days prior to the date the Form S-1 is filed with the SEC, the Company will, subject to the conditions
set forth in Section 2.3 and the provision of the information specified in Section 2.5, use 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. 
  

 -2- 

 (b) Form S-3. If the Company indicates in the Piggyback Offering Notice that it intends to effect
a registration pursuant to Form S-3, upon the written request of any Holder (which request shall specify the Registrable Securities intended to be registered by such Holder), made within ten (10) days after the receipt of any such notice but in
no event later than two (2) Business Days prior to the effectiveness of the registration statement as indicated in such notice, notifying the Company whether any Holders intend to include within the Form S-3 or any Prospectus included therein
Registrable Securities, the Company will, subject to the conditions set forth in Section 2.3 and the provision of the information specified in Section 2.5, use 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. 
 (c) Form S-3ASR. If the
Company indicates in the Piggyback Offering Notice that it intends to effect a registration pursuant to Form S-3ASR, upon the written request of any Holder (which request shall specify the Registrable Securities intended to be registered by such
Holder), made within ten (10) days after the receipt of any such notice but in no event later than two (2) Business Days (six (6) business hours in the case that the Company’s notice specifies that the offering is expected to
occur within one (1) Business Day following the date of the notice, or one (1) Business Day in the case that the Company’s notice specifies that the offering is expected to occur within two (2) Business Days) prior the date and
time of the offering as specified in the Company’s notice, notifying the Company whether any Holders intend to include within such Form S-3ASR or any Prospectus included therein Registrable Securities, the Company will, subject to the
conditions set forth in Section 2.3 and the provision of the information specified in Section 2.5, use 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. 
 (d) Right to Withdraw. If a registration pursuant to this Section 2.1 involves
an underwritten offering, any Holder requesting to be included in such registration may elect, in writing prior to the effective date of the registration statement filed in connection with such registration, not to register all or any part of such
Holder’s Registrable Securities in connection with such registration. 
 (e) Conversion into Registrable Securities. Nothing in
this Section 2.1 shall limit the right of any Holder to request the registration of the Registrable Securities issuable upon (i) conversion of the Series B Preferred Stock or the Series C Preferred Stock by such Holder (subject to such
conversion occurring prior to the completion of the sale of the underlying Registrable Securities prior to such registration) or (ii) exercise of the Warrants by such Holder (subject to such exercise occurring prior to the completion of the
sale of the underlying Registrable Securities prior to such registration), notwithstanding the fact that at the time of the request such Holder holds Series B Preferred Stock, Series C Preferred Stock or Warrants, as the case may be, and not
Registrable Securities. 
  

 -3- 

 SECTION 2.2. Demand Registration. 
 (a) General. 
 (i) Subject to the
provisions of this Section 2.2(a), upon the written request (a “Demand Notice”) of holders holding at least 40% of the aggregate Registrable Securities then held by the Holders (collectively the “Demand Party”)
(assuming conversion of all outstanding shares of Series B Preferred Stock and Series C Preferred Stock into Conversion Shares and exercise of all outstanding Warrants into Warrant Shares (as defined below)) requesting that the Company effect the
registration under the Securities Act of all or part of such Demand Party’s Registrable Securities, which Registrable Securities will be offered for sale on or after the Restricted Period Termination Date, and specifying the amount and intended
method of disposition thereof, including pursuant to a shelf registration statement utilizing Rule 415 of the Securities Act (or its successor provision) (a “Shelf Registration”), thereupon the Company will promptly give
written notice of such requested registration to each of the other Holders and thereupon will, as expeditiously as reasonably practicable (and in any event no later than 45 days after the date of the Demand Notice in the case of a Demand Notice
dated on or after the Restricted Period Termination Date), file and use its reasonable best efforts to cause to be declared effective under the Securities Act a registration statement to effect the registration under the Securities Act of the
following, provided that, notwithstanding the foregoing: (x) to the extent a Demand Notice is delivered not less than 45 days prior to the Restricted Period Termination Date requesting a Shelf Registration, the Company shall use its
reasonable best efforts to cause such registration statement to become effective no later than the Restricted Period Termination Date, and (y) under no circumstances under this Section 2.2(a) (including the foregoing clause (x)) shall the
Company be required to file any registration statement prior to the date that is 45 days prior to the Restricted Period Termination Date: 
 (1) such Registrable Securities which the Company has been so requested to register by the Demand Party under the Demand Notice; and 
 (2) the Registrable Securities of Holders which the Company has been requested to register by written request to the Company by the
Holders within ten (10) days after the giving of such written notice by the Company to the Holders (which request shall specify the amount and intended method of disposition of such securities). 
 all to the extent necessary to permit the disposition (in accordance with the intended method thereof as aforesaid) of the Registrable Securities and such other
securities so to be registered. 
 (ii) Nothing in this Section 2.2 shall limit the right of any Holder to request the registration of
the Registrable Securities issuable upon (i) conversion of the Series B Preferred Stock or the Series C Preferred Stock by such Holder (subject to such conversion occurring prior to the completion of the sale of the underlying Registrable
Securities prior to such registration) or (ii) exercise of the Warrants by such Holder (subject to such exercise occurring prior to the completion of the sale of the underlying Registrable Securities prior to such registration), notwithstanding
the fact that at the time of the request such Holder holds Series B Preferred Stock, Series C Preferred Stock or Warrants, as the case may be, and not Registrable Securities. 
  

 -4- 

 (b) Shelf Take-Downs. Any of the Holders whose Registrable Securities have been registered
pursuant to a Shelf Registration may initiate an offering or sale of Registrable Securities pursuant to such Shelf Registration (each, a “Shelf Take-Down”) and, except as set forth in this Section 2.2(b) with respect to
Marketed Underwritten Offerings (as defined below in Section 2.4(q)), such Holder shall not be required to permit the offer and sale of Registrable Securities by other Holders in connection with such Shelf Take-Down. If the initiating Holders
so elect by written request to the Company, a Shelf Take-Down may be in the form of an underwritten offering (an “Underwritten Shelf Take-Down”), and the Company shall, if so requested, file and effect an amendment or supplement of
the Shelf Registration for such purpose as soon as practicable. Only the Demand Party shall have the right to initiate an Underwritten Shelf Take-Down that is a Marketed Underwritten Offering, and any such Underwritten Shelf Take-Down that is a
Marketed Underwritten Offering shall be deemed to be a registration pursuant to Section 2.2(a), and the Company shall provide notice to the other Holders of such registration in accordance with the provisions of Section 2.2(a). 

(c) Effective Registration Statement. A registration requested pursuant to this Section 2.2 will not be deemed to have been effected
unless: (i) it has been declared effective by the SEC or has otherwise become effective under the Securities Act, or (ii) it has been filed with the SEC but abandoned or withdrawn at the request of the Demand Party prior to effectiveness,
other than an abandonment or withdrawal requested because of: (A) the stock price of the Company’s Common Stock falling 15% or more since the delivery of a request for registration pursuant to this Section 2.2 (provided that
such registration shall be deemed to have been effected, unless (x) the Holders participating in the registration reimburse the Company for Registration Expenses incurred or payable by the Company up until the receipt of notice of an
abandonment or withdrawal pursuant to this clause (A) and for the withdrawal of the registration statement, and (y) a Demand Party has not previously requested abandonment or withdrawal of a registration pursuant to this clause (A)
(it being understood that an abandonment or withdrawal pursuant to this clause (A) may be made only once)), (B) the delivery of a postponement notice pursuant to Section 2.3(b)(iv), (C) a material adverse change in the
Company’s and its Subsidiaries’ prospects, business, operations, properties, assets, liabilities, financial condition or results of operations, taken as a whole, which became known to the Holders or the public after the delivery of a
request for registration pursuant to this Section 2.2, or (D) the discovery of materially adverse, non-public information concerning the Company and its Subsidiaries, taken as a whole. 
 (d) Selection of Underwriters. If a requested registration pursuant to this Section 2.2 involves an underwritten offering, the investment
bankers, underwriters and managers for such registration shall be selected by the Holders of a majority of the Registrable Securities which the Company has been requested to register; provided, however, that such selection of
investment bankers, underwriters and managers shall be subject to the reasonable approval by the Company. 
 (e) Priority in Demand
Registrations; Right to Abandon or Withdraw. If a requested registration pursuant to this Section 2.2 involves an underwritten offering and the managing underwriter advises the Company in writing that, in its opinion, the number of Equity
Securities (including Registrable Securities) to be included in such registration as contemplated by 

  

 -5- 

 
the Holders and the Company would be likely to exceed the largest number of Equity Securities that can be sold without having an adverse effect on the
success of such offering, including any impact on the selling price or the number of Equity Securities that can be sold (the “Maximum Offering Size”), then the Company shall include in such registration (i) first, 100%
of the Registrable Securities requested to be included in such registration by the Demand Party and other Holders of Registrable Securities who have requested that their Registrable Securities be included up to the Maximum Offering Size (such
Registrable Securities allocated, if necessary for the offering not to exceed the Maximum Offering Size, pro rata among the Demand Party and the other Holders of Registrable Securities so requested to be included in such registration by each) and
(ii) second, to the extent the managing underwriter believes additional securities can be sold in the offering without exceeding the Maximum Offering Size, the securities the Company proposes to sell up to the number of securities that,
in the opinion of such managing underwriter, can be sold without exceeding the Maximum Offering Size. Notwithstanding the foregoing, if the managing underwriter of any underwritten offering shall advise the Holders participating in a registration
pursuant to this Section 2.2 that the Registrable Securities covered by the registration statement cannot be sold in such offering within a price range acceptable to the Demand Party or that all of the Registrable Securities requested to be
included in a registration by a Demand Party pursuant to this Section 2.2 cannot be sold in the manner requested, then the Demand Party shall have the right to notify the Company that it has determined that the registration statement be
abandoned or withdrawn, in which event the Company shall abandon or withdraw such registration statement; it being understood that in the event the Demand Party exercises its right set forth in this sentence, the Company shall
remain liable for any Registration Expenses pursuant to Section 2.6 and that the abandonment or withdrawal of the registration statement shall nevertheless constitute a registration for purposes of Section 2.3(b)(i) unless the Demand Party
elects to pay (or reimburse the Company for) such Registration Expenses, in which case such registration statement shall not constitute a registration for purposes of Section 2.3(b)(i). 
 (f) Notification of Sales. Prior to the sale of any Registrable Securities pursuant to a Shelf Registration, the Holders shall give reasonable
prior written notice of such sale to the Company under the particular circumstances, but in any event at least two (2) Business Days prior notice, which notice may contemplate possible sales by the Holder over a period of time not to exceed one
(1) week but need not specify the number of Registrable Securities to be sold, the method of distribution or proposed purchaser or underwriter. Delivery of such notice shall not obligate the Holders to consummate such sale. Any underwritten
sale pursuant to a Shelf Registration pursuant to this Section 2.2 must be for a number of Registrable Securities which, based on the good faith determination of the Holders, will result in gross proceeds of at least $50 million in the case of
any Marketed Underwritten Offering or $20 million in the case of any other underwritten offering. 
  

 -6- 

 SECTION 2.3. Exceptions to the Company’s Obligations. 
 (a) Notwithstanding anything in Section 2.1 to the contrary: 
 (i) if, at any time after giving a Piggyback Offering Notice, 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 the Holders 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 Registration
Expenses in connection therewith); and 
 (ii) if a registration pursuant to Section 2.1 involves an underwritten offering and the
managing underwriter advises the Company in writing that, in its opinion, the number of Equity Securities (including Registrable Securities requested to be included in such registration) to be included in such registration as contemplated by the
Company and the Holders would be likely to exceed the Maximum Offering Size, then the Company shall include in such registration (a) first, 100% of the securities the Company proposes to sell, and (b) second, to the extent of
the amount of Registrable Securities requested to be included in such registration which, in the opinion of such managing underwriter can be sold without exceeding the Maximum Offering Size, the amount of Registrable Securities which the Holders
have requested to be included in such registration, such amount to be allocated pro rata among all requesting Holders and all other Persons entitled to registration rights, on the basis of the relative amount of Registrable Securities then held by
each such Person (provided that any such amount thereby allocated to any such Person that exceeds such Person’s request shall be reallocated among the remaining requesting Persons in a like manner to the extent practicable). 

(b) Notwithstanding anything in Section 2.2 to the contrary: 
 (i) in no event shall the Company be required to effect more than (x) four (4) registrations pursuant to Section 2.2(a) or (y) four (4) Marketed Underwritten Offerings; 
 (ii) in no event shall the Company be obligated to prepare and file (x) any such registration statement or (y) any prospectus supplement
thereto relating to a Marketed Underwritten Offering, in each case with respect to Registrable Securities with a market value (based on then current trading prices) of less than $50 million; 
 (iii) the Company shall not be obligated to (x) file a registration statement under Section 2.2(a) within a period of 270 days after the
effective date of any other registration statement, (1) for which the Holders exercised their rights pursuant Section 2.1 to include Registrable Securities, provided that the Company and the underwriters did not limit in its
entirety the number of Registrable Securities that such Holder was permitted to include in such registration statement or (2) which the Company filed or effected pursuant to Section 2.2(a) or (y) effect more than one
Marketed Underwritten Offering pursuant to Section 2.2 in any 180-day period; 
 (iv) if the Company receives a request for
registration pursuant to Section 2.2, at a time when (A) the Company has commenced, or has a bona fide intention to commence, a public or Rule 144A securities offering transaction, (B) registration of the Registrable Securities would,
in the good faith judgment of the executive officers of the Company (after consultation with counsel), impede, delay or otherwise interfere with any pending or contemplated material 

  

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acquisition, corporate reorganization or similar material transaction, or (C) non-public material information not otherwise then required by Law to be
publicly disclosed regarding the Company exists, the immediate disclosure of which would in the good faith judgment of the Chief Executive Officer, Chief Financial Officer or General Counsel of the Company be disadvantageous in any material respect
to the Company (clauses (A), B) and (C), a “Material Pending Event”), then the Company may postpone the filing (but not the preparation) of a registration statement requested pursuant to Section 2.2 for a period not to exceed
90 consecutive calendar days from the date of a Demand Notice upon providing the Demand Party with written notice of such postponement (which notice need not include a statement of the reason for such postponement); provided that the Company
shall at all times in good faith use reasonable best efforts to cause any registration statement required by Section 2.2 to be filed as soon as reasonably practicable thereafter; provided, further, that the Company shall postpone
the filing of a registration statement pursuant to this Section 2.3(b)(iv) for no more than 180 days in the aggregate in any twelve-month period in respect of all requested registrations; and provided further that the Company
shall make prompt and adequate disclosure of any material information required to be disclosed from time to time in accordance with Law and Nasdaq rules. Each Holder shall keep confidential any communications received by it from the Company
regarding the postponement pursuant to this Section 2.3(b)(iv) (including the fact of the postponement), except as required by Law. In the event that the Company gives the Holders the notice specified in this Section 2.3(b)(i), the Demand
Party shall have the right, within 15 days after receipt thereof, to withdraw its request under Section 2.2, in which case such request shall not be counted as a demand for purposes of Section 2.2 or for purposes of the limitations set
forth in Section 2.3(b)(i); 
 (v) if the Company receives a request for registration pursuant to Section 2.2, at a time when
there is a Material Pending Event, then the Company may suspend sales under a shelf registration statement, or a registration statement pursuant to which Registrable Securities are not immediately sold after the effectiveness thereof, for a period
not to exceed 60 days in any 90-day period upon providing the Holders with written notice of such suspension (which notice shall include a statement of the reason for such suspension); provided, that the Company shall suspend the filing of a
registration statement pursuant to this Section 2.3(b)(v) for no more than 180 days in the aggregate in any twelve-month period and three (3) times in any twelve-month period respect of all requested registrations; and provided
further that the Company shall make prompt and adequate disclosure of any material information required to be disclosed from time to time in accordance with Law and Nasdaq rules. Upon receipt of a notice from the Company in accordance with
the terms of this Section 2.3(b)(v), each Holder agrees not to sell or offer to sell any Registrable Securities pursuant to such shelf registration statement until the Company notifies such Holder that the shelf registration statement may be
used (which notice the Company shall promptly provide following the termination of the event or circumstance giving rise to such suspension). Each Holder shall keep confidential any communications received by it from the Company regarding the
suspension of sales pursuant to this Section 2.3(b)(v) (including the fact of the suspension), except as required by Law; and 
 (vi)
in no event shall the Company be obligated to prepare and file in connection with any Shelf Take-Down any post-effective amendment to a Shelf Registration or any 

  

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prospectus supplement with respect to such Shelf Take-Down unless the Holders requesting such filing expect in good faith to sell Registrable Securities in
connection therewith for an aggregate gross sales price of at least $17.5 million ($20 million with respect to an Underwritten Shelf Take-Down). 
 (c) Notwithstanding anything in Section 2.1 or Section 2.2 to the contrary: 
 (i) if all of the Registrable Securities
held by a Holder (together with those of its Affiliates) constitute less than 5% of the outstanding Common Stock and can be sold without restriction under Rule 144(k) under the Securities Act, the Company shall not be required to effect any
registrations, Shelf Take-Downs or Underwritten Shelf Take-Downs of any kind for such Holder pursuant to Section 2.1 or Section 2.2 (but the Company shall be required to maintain the effectiveness of any shelf registration statement as
required by Section 2.4(b)); 
 (ii) if all of the Registrable Securities held by a Holder (together with those of its Affiliates)
constitute less than 5% of the outstanding Common Stock and can be sold within any three (3) month period without restriction under Rule 144 because the number of Registrable Securities held by such Holder does not exceed the volume
limitations imposed by Rule 144(e) of the Securities Act, the Company shall not be required to effect any registrations, Shelf Take-Downs or Underwritten Shelf Take-Downs of any kind for such Holder pursuant to Section 2.1 or Section 2.2;
and 
 (iii) if any registration involves an underwritten offering, all Holders requesting to participate in any registration in connection
with an underwritten offering hereunder must sell its Registrable Securities on the basis provided in any underwriting arrangements approved by the Persons entitled to approve such arrangements (with such differences, including any with respect to
indemnification and liability insurance, as may be customary or appropriate in combined primary and secondary offerings) and completes and executes all reasonable questionnaires, powers of attorney, underwriting agreements, hold-back agreement
letters and other documents customarily required under the terms of such underwriting arrangements; provided, however, that to the extent such Holder is obligated under the terms of the underwriting arrangements to (i) make
representations and warranties other than generally as to his, her or its respective (A) execution, delivery and performance of such underwriting agreement and the agreements contemplated thereby, (B) individual ownership of the
Registrable Securities being sold pursuant to such underwriting agreement and (C) information provided by such Holder in writing specifically for inclusion in the Prospectus and (ii) agree to provide indemnification for any liability
arising out of a breach of any such representations or warranties of such Holder that would exceed the total proceeds received by such Holder for the sale of such Registrable Securities pursuant to such underwriting agreement, then such Holder, to
the extent he, she or it determined not to enter into such underwriting agreement, shall not be obligated to enter into a lock-up agreement contemplated by Section 2.11. 
 SECTION 2.4. Registration Procedures. If and whenever the Company is required to effect a registration of any Registrable Securities as
provided in this Agreement, subject to the limitations set forth in Section 2.3, the Company will: 
 (a) promptly prepare and file with
the SEC a registration statement with respect to such Registrable Securities and use reasonable best efforts to cause a registration statement with respect to a demand registration pursuant to Section 2.2 to be filed (in the case of a
registration pursuant to Form S-3ASR), or become effective (in the case of any registration other than pursuant to Form S-3ASR) as promptly as practicable; 
  

 -9- 

 (b) prepare and file with the SEC such amendments and supplements to such registration statement
(including Exchange Act documents incorporated by reference into the registration statement) and the Prospectus used in connection therewith as may be necessary to keep such registration statement effective for a period not in excess of 90 days (or
such longer period as may be requested by the Holders in the event of a shelf registration statement) and to comply with the provisions of the Securities Act and the Exchange Act with respect to the disposition of all securities covered by such
registration statement during such period in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement; provided that before filing a registration statement or prospectus or
any amendments or supplements thereto in accordance with Section 2.4(a) or this Section 2.4(b) to the extent that doing so will not materially interfere with the timing of the offering: (i) the Company will furnish to counsel selected
pursuant to Section 2.10 copies of all documents proposed to be filed, and (ii) such documents will be subject to the review of such counsel reasonably in advance of any filing to permit a reasonable opportunity to review and comment in
light of the circumstances; 
 (c) use reasonable best efforts to comply with all applicable securities laws in the United States and
register or qualify such Registrable Securities covered by such registration in such jurisdictions in the United States as each seller shall reasonably request, and do any and all other acts and things which may be reasonably necessary to enable
such seller to consummate the disposition in such jurisdictions of the Registrable Securities owned by such seller, except that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in
any jurisdiction where, but for the requirements of this Section 2.4(c), it would not be obligated to, subject itself to taxation in any such jurisdiction or to consent to general service of process in any such jurisdiction; 
 (d) promptly furnish to each seller of such Registrable Securities such number of copies of such registration statement and of each amendment and
supplement thereto (in each case including all exhibits filed therewith, including any documents incorporated by reference), such number of copies of the Prospectus included in such registration statement (including each preliminary prospectus and
summary prospectus), in conformity with the requirements of the Securities Act, and such other similar documents as such seller may reasonably request necessary to facilitate the disposition of the Registrable Securities by such seller; 

(e) notify each seller of any such Registrable Securities covered by such registration statement promptly if the Company becomes aware that the
Prospectus included in such registration statement, as then in effect, or the registration statement includes an untrue statement of a material fact or omits to state a material fact required to be stated therein or necessary to make the statements
therein not misleading in the light of the circumstances then existing and, prepare and 

  

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furnish to such seller a reasonable number of copies of an amended or supplemental prospectus as may be necessary so that, as thereafter delivered to the
purchasers of such Registrable Securities, such Prospectus shall not include 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 not misleading in the
light of the circumstances then existing; 
 (f) otherwise use 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 (but not more than 18 months) after the effective date of the registration statement, an earnings statement which shall satisfy the provisions of
Section 11(a) of the Securities Act; 
 (g)(i) use reasonable best efforts to list such Registrable Securities on the Exchange on
which the Common Stock is then listed (if such Registrable Securities are not already so listed and if such listing is then permitted under the rules of such Exchange) to the extent required; and (ii) use reasonable best efforts to provide for
a transfer agent and registrar for such Registrable Securities covered by such registration statement not later than the effective date of such registration statement; 
 (h) in connection with an underwritten offering pursuant to a demand registration pursuant to Section 2.2, promptly enter into an underwriting agreement in customary form, which may include indemnification
provisions in favor of underwriters and other Persons in addition to, or in substitution for, the provisions of Section 2.8, and take such other actions as the managing underwriters reasonably request in order to expedite or facilitate the
disposition of such Registrable Securities; 
 (i) in connection with an underwritten offering pursuant to a demand registration pursuant to
Section 2.2, promptly obtain a “cold comfort” letter or letters from the Company’s independent public accounts in customary form and covering matters of the type customarily covered by “cold comfort” letters provided to
sellers of securities as the seller or sellers of a majority of shares of such Registrable Securities shall reasonably request; 
 (j)
promptly make available for inspection by any seller of such Registrable Securities covered by such registration statement, by any underwriter participating in any disposition to be effected pursuant to such registration statement and by any
attorney, accountant or other agent retained by any such seller or any such underwriter, all pertinent financial and other records, pertinent corporate documents and properties of the Company, and cause all of the Company’s officers, directors
and employees to supply all information reasonably requested by any such seller, underwriter, attorney, accountant or agent in connection with the “due diligence” of such seller or such underwriter with respect to such registration
statement, subject to the execution of a mutually acceptable confidentiality agreement; 
 (k) promptly notify counsel (selected pursuant to
Section 2.10) for the Holders of Registrable Securities included in such registration statement and the managing underwriter or agent and confirm such notice in writing (i) when the registration statement, or any post-effective amendment
to the registration statement, shall have become effective, or any supplement to the 

  

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Prospectus and any amendments to the Prospectus shall have been filed (other than in the case of a registration pursuant to Form S-3ASR), (ii) of the
receipt of any comments from the SEC, (iii) of any request by the SEC to amend the registration statement or amend or supplement the Prospectus or for additional information, and (iv) of the issuance by the SEC of any stop order suspending
the effectiveness of the registration statement or of any order preventing or suspending the use of any Prospectus, or of the suspension of the qualification of the registration statement for offering or sale in any jurisdiction, or of the
institution or threatening of any proceedings for any of such purposes; 
 (l) use reasonable best efforts to prevent the issuance of any
stop order suspending the effectiveness of the registration statement or of any order preventing or suspending the use of any Prospectus and, if any such order is issued, to obtain the withdrawal of any such order as soon as practicable; 

(m)(i) if requested by the managing underwriter or agent or any Holder of Registrable Securities covered by the registration statement, promptly
incorporate in a prospectus supplement or post-effective amendment such information as the managing underwriter or agent or such Holder reasonably requests to be included therein, including, with respect to the number of Registrable Securities being
sold by such Holder to such underwriter or agent, the purchase price being paid therefor by such underwriter or agent; and (ii) make all required filings of such prospectus supplement or post-effective amendment as soon as practicable after
being notified of the matters incorporated in such prospectus supplement or post-effective amendment; 
 (n) cooperate with the Holders of
Registrable Securities covered by the registration statement and the managing underwriter or agent, if any, to facilitate the timely preparation and delivery of certificates (not bearing any restrictive legends) representing securities to be sold
under the registration statement, and enable such securities to be in such denominations and registered in such names as the managing underwriter or agent, if any, or such Holders may reasonably request; 
 (o) in connection with an underwritten offering pursuant to a demand registration pursuant to Section 2.2, promptly obtain for delivery to the
Holders of Registrable Securities being registered and to the underwriter or agent an opinion or opinions from counsel for the Company in customary form and scope for sellers of securities; 
 (p) 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 NASD; 
 (q) use reasonable best efforts to make
available certain of the executive officers of the Company (which in any event shall include the Company’s chief executive officer) for a five (5) Business Day period to participate and to cooperate with the Holders of Registrable
Securities and any underwriters in any “road shows” or other selling efforts, in each case in the United States, that may be reasonably be requested upon reasonable notice thereof by the Holders in connection with a firm commitment
underwritten offering for the Registrable Securities with a minimum sales price of $50 million with respect to a registration statement effected pursuant to Section 2.2 (an 

  

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underwritten offering contemplated by this Section 2.4(q), a “Marketed Underwritten Offering”); provided that to the extent the initial
such Marketed Underwritten Offering is for Registrable Securities having a minimum sales price of not less than $100 million, such five (5) Business Day period may be extended to eight (8) Business Days, solely in the case of such an
initial Marketed Underwritten Offering, upon reasonable request of the Holders of such Registrable Securities. 
 SECTION 2.5.
Information Supplied. It shall be a condition precedent to the obligations of the Company to take any action to register the Registrable Securities held by any Holder as to which any registration is being effected that such Holder shall
furnish the Company with such information regarding such Holder that is pertinent to the disclosure requirements relating to the registration and the distribution of such securities as the Company may from time to time reasonably request. Each
Holder agrees to promptly furnish to the Company all information required to be disclosed in order to make the information previously furnished to the Company by such Holder not misleading. 
 SECTION 2.6. Expenses. Except as provided herein, the Company will pay all Registration Expenses in connection with registrations of
Registrable Securities requested pursuant to Section 2.1 or Section 2.2; provided, however, that the Company shall not be obligated to pay the Registration Expenses in more than seven (7) Underwritten Offerings (which
shall in no event include more than four (4) Marketed Underwritten Offerings). To the extent the Holders engage in more than seven (7) Underwritten Offerings, the Holders shall pay all Registration Expenses with respect to such
Underwritten Offerings and the Company will have no obligation to pay any such Registration Expenses. Each Holder shall pay all underwriting discounts and commissions, broker fees and commissions, and transfer taxes, if any, relating to the sale or
disposition of such Holder’s Registrable Securities pursuant to any registration statement. 
 SECTION 2.7. Restrictions on
Disposition. Each Holder agrees that, upon receipt of any notice from the Company of the happening of any event of the kind described in Section 2.4(e), Section 2.4(k)(iii) or Section 2.4(k)(iv), such Holder will forthwith
discontinue disposition of Registrable Securities pursuant to the registration statement covering such Registrable Securities until such Holder’s receipt of the copies of the supplemented or amended Prospectus contemplated by
Section 2.4(e) or written notice from the Company that the registration statement is again effective and no amendment or supplement is needed. In the event that the Company shall give any such notice, the period referred to in
Section 2.4(b) shall be extended by the number of days during the period from and including the date of the giving of such notice pursuant to Section 2.4(e) and to and including the date when each seller of Registrable Securities covered
by such registration statement shall have receive the copies of the supplemented and amended Prospectus contemplated by Section 2.4(e). 
 SECTION 2.8. Indemnification. 
 (a) Indemnification by the Company. In the event of any registration of any
securities of the Company under the Securities Act pursuant to Section 2.1 or Section 2.2, to the fullest extent permitted by law, the Company will indemnify and hold harmless each Holder, each Affiliate of such Holder and their respective
directors and officers, members or general and limited 

  

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partners (and the directors, officers, employees, affiliates and each Person who controls such Holder (within the meaning of Section 15 of the
Securities Act or Section 20 of the Exchange Act) (hereinafter referred to as a “Controlling Person”) of any of the foregoing), and each underwriter, if any, and each person who controls within the meaning of Section 15 of
the Securities Act any underwriter (collectively, the “Seller Indemnified Parties”), against all claims, losses, damages and liabilities, joint or several, actions or proceedings (whether commenced or threatened in writing) in
respect thereof (“Claims”) and expenses arising out of or based on: (i) any untrue statement or alleged untrue statement of a material fact contained in a registration statement (or any amendment or supplement thereto),
including all documents incorporated therein by reference, or any omission or alleged omission therefrom of a material fact, in each case, necessary in order to make the statements therein not misleading, in light of the circumstances under which
they were made, (ii) any untrue statement or alleged untrue statement of a material fact contained in a Prospectus (or any amendment or supplement thereto), including all documents incorporated therein by reference, or any omission or alleged
omission therefrom of a material fact, in each case, necessary in order to make the statements therein not misleading, in light of the circumstances under which they were made, or (iii) any untrue statement or alleged untrue statement of a
material fact contained in any Issuer Free Writing Prospectus prepared by it or authorized by it in writing for use by such Holder (or any amendment or supplement thereto), including all documents incorporated therein by reference, or any omission
or alleged omission therefrom of a material fact, in each case, necessary in order to make the statements therein not misleading, in light of the circumstances under which they were made, and the Company will reimburse each such Seller Indemnified
Party for any reasonable fees and disbursements of counsel and any other reasonable out-of-pocket expenses incurred in connection with investigating and defending or settling any such Claim; provided that the Company will not be liable in any
such case to the extent that any such claim, loss, damage, liability, or action arises out of or is based on any untrue statement or alleged untrue statement or omission or alleged omission by such Holder or underwriter 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, or Issuer Free Writing Prospectus in reliance upon and in conformity with written information furnished to the
Company by or on behalf of such Holder and stated to be specifically for use therein; and provided, further that, the indemnity agreement contained in this Section 2.8(a) shall not apply to amounts paid in settlement of any such
Claim if such settlement is effected without the consent of the Company (which consent shall not be unreasonably withheld or delayed); and provided, further that the Company will not be liable to any Seller Indemnified Parties pursuant
to this Section 2.8(a) to the extent that any Claims for which such Seller Indemnified Party seeking indemnification relates to a sale of Registrable Securities in violation of Section 2.3(b)(v). 
 (b) Indemnification by the Holders. To the fullest extent permitted by law, each Holder will, if Registrable Securities held by such Holder are
included in the registration statement or Prospectus, indemnify and hold harmless the Company, all other Holders or any prospective underwriter, as the case may be, and any of their respective Affiliates, directors, officers and Controlling Persons
(collectively, the “Company Indemnified Parties”), against all Claims and expenses arising out of or based on: (i) any untrue statement or alleged untrue statement of a material fact contained in a registration statement (or
any amendment or supplement thereto), including all documents incorporated therein by reference, or any omission or alleged omission 

  

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therefrom of a material fact, in each case, necessary in order to make the statements therein not misleading, in light of the circumstances under which they
were made, (ii) any untrue statement or alleged untrue statement of a material fact contained in a Prospectus (or any amendment or supplement thereto), including all documents incorporated therein by reference, or any omission or alleged
omission therefrom of a material fact, in each case, necessary in order to make the statements therein not misleading, in light of the circumstances under which they were made, or (iii) any untrue statement or alleged untrue statement of a
material fact contained in any Issuer Free Writing Prospectus (or any amendment or supplement thereto), including all documents incorporated therein by reference, or any omission or alleged omission therefrom of a material fact, in each case,
necessary in order to make the statements therein not misleading, in light of the circumstances under which they were made, and the Holder will reimburse each such Company Indemnified Party for any reasonable fees and disbursements of counsel and
any other reasonable expenses incurred in connection with investigating and defending or settling any such Claim, in each case to the extent, but only to the extent that such untrue statement (or alleged untrue statement) or omission (or alleged
omission) is made in such registration statement, Prospectus, or Issuer Free Writing Prospectus in reliance upon and in conformity with written information furnished to the Company by or on behalf of such Holder and stated to be specifically for use
therein; and provided that the indemnity agreement contained in this Section 2.8(b) shall not apply to amounts paid in settlement of any such Claim if such settlement is effected without the consent of the Company (which consent shall
not be unreasonably withheld or delayed); and provided, further, that in the absence of fraud by such Holder, the liability of each selling Holder of Registrable Securities hereunder shall be limited to the net proceeds received by
such selling Holder from the sale of Registrable Securities covered by such registration statement. 
 (c) Notification of Claims.
Promptly after receipt by a Person entitled to indemnification pursuant to Section 2.8 (an “Indemnified Party”) hereunder of written notice of the commencement of any action or proceeding with respect to which a claim for
indemnification may be made pursuant to this Section 2.8, such Indemnified Party will, if a claim in respect thereof is to be made against an indemnifying party, give written notice to the latter of the commencement of such action or
proceeding; provided that the failure of the Indemnified Party to give notice as provided herein shall not relieve the indemnifying party of its obligations under this Section 2.8, except to the extent that the indemnifying party is
prejudiced in any material respect by such failure to give notice. In case any such action or proceeding is brought against an Indemnified Party, unless in such Indemnified Party’s reasonable judgment, based upon advice of counsel, a conflict
of interest between such indemnified and indemnifying parties may exist in respect of such action or proceeding (in which case the Indemnified Party shall have the right to assume or continue its own defense and the indemnifying party shall be
liable for any reasonable expenses therefor (but in no event will bear the expenses for more than one firm of counsel for all Indemnified Parties in each jurisdiction who shall, with respect to Seller Indemnified Parties, be approved by the majority
of the participating Holders in the registration in respect of which such indemnification is sought), the indemnifying party will be entitled to participate in and to assume the defense thereof (at its expense), jointly with any other indemnifying
party similarly notified to the extent that it may wish, with counsel reasonably satisfactory to such Indemnified Party, and after notice from the indemnifying party to such Indemnified Party of its election so to assume the defense thereof, the

  

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indemnifying party will not be liable to such Indemnified Party for any legal or other expenses subsequently incurred by the latter in connection with the
defense thereof other than reasonable costs of investigation and shall have no liability for any settlement made by the Indemnified Party without the consent of the indemnifying party, such consent not to be unreasonably withheld. No indemnifying
party will settle any action or proceeding or consent to the entry of any judgment without the prior written consent of the Indemnified Party, unless such settlement or judgment (i) includes as an unconditional term thereof the giving by the
claimant or plaintiff of a release to such Indemnified Party from all liability in respect of such action or proceeding and (ii) does not involve the imposition of equitable remedies or the imposition of any obligations on such Indemnified
Party and does not otherwise adversely affect such Indemnified Party, other than as a result of the imposition of financial obligations for which such Indemnified Party will be indemnified hereunder. An Indemnified Party may not settle any action or
proceeding or the entry of any judgment without the prior written consent of the indemnifying party. 
 (d) Contribution. (i) If
the indemnification provided for in this Section 2.8 from the indemnifying party is unavailable to an Indemnified Party hereunder in respect of any Claim or expenses referred to herein, then the 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 Claim or expenses in such proportion as is appropriate to reflect the relative fault of the indemnifying party and Indemnified Party in
connection with the actions which resulted in such Claim or expenses, as well as any other relevant equitable considerations. The relative fault of such indemnifying party and Indemnified Party shall be determined by reference to, among other
things, whether any action in question, including any untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact, has been made 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 such action. The amount paid or payable by a party under this Section 2.8(d) as a result of the Claim and expenses
referred to above shall be deemed to include any legal or other fees or expenses reasonably incurred by such party in connection with any action or proceeding; and (ii) the parties hereto agree that it would not be just and equitable if
contribution pursuant to this Section 2.8(d) were determined by pro rata allocation or by any other method of allocation which does not take account of the equitable considerations referred to in Section 2.8(d)(i). 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. 
 (e) Non-Exclusive Remedy. The obligations of the parties under this Section 2.8 shall be in addition to any liability which any party may
otherwise have to any other party. 
 SECTION 2.9. Required Reports. The Company covenants that it will use reasonable best
efforts to file the reports required to be filed by it under the Securities Act and the Exchange Act, and it will take such further action as any Holder 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 (i) Rule 144, or (ii) any similar rule or regulation hereafter adopted by the SEC. Upon the
request of any Holder, the Company will deliver to such Holder a written statement as to whether it has complied with such requirements. 
  

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 SECTION 2.10. Selection of Counsel. In connection with any registration of Registrable
Securities pursuant to Section 2.1 and Section 2.2, the Holders of a majority of the Registrable Securities covered by any such registration may select one counsel to represent all Holders of Registrable Securities covered by such
registration; provided, however, that in the event that the counsel selected as provided above is also acting as counsel to the Company in connection with such registration, a majority of the remaining Holders shall be entitled to
select one additional counsel to represent all such remaining Holders. 
 SECTION 2.11. Market Standoff Agreement. Subject to the
proviso in Section 2.3(c)(iii), in connection with any underwritten public offering, each Holder who was offered the opportunity to include Registrable Securities in such offering pursuant to Section 2.1 or Section 2.2 will agree upon
the request of the managing underwriter with respect to such offering not to effect any public sale or distribution, including any sale pursuant to Rule 144 under the Securities Act, of any Equity Security of the Company during the 14-day
period prior to, and for the 90 days after (plus any Booster Period), the effective date of the registration statement for such offering (or such lesser period as the managing underwriters may require or permit), except for such Equity Securities to
be included in such offering; provided that all of the Company’s executive officers and all of the members of the Company’s Board (other than the Series B Directors, Series C Directors or Investor Directors, as each term is defined
in the Amended and Restated Stockholders’ Agreement) are restricted in the same manner and for the same duration; and provided further that the obligations set forth in this Section 2.11 shall not apply to any Holder who was
substantially limited in the number of Registrable Securities that such Holder could sell in the offering pursuant to Section 2.2(e) or Section 2.3(a)(ii) and did not otherwise sell Registrable Securities in such offering. 
 SECTION 2.12. No Inconsistent Agreements; No Free Writing Prospectuses. The Company represents and warrants that it is not a party to a
Contract which conflicts with or limits or prohibits the exercise of the rights granted to the Holders of Registrable Securities in this ARTICLE II. Each Holder agrees that, unless it obtains the prior consent of the Company and any such
underwriter, it will not make any offer relating to the Securities that would constitute an Issuer Free Writing Prospectus, or that would otherwise constitute a “free writing prospectus,” as defined in Rule 405, required to be filed
with the SEC. 
 SECTION 2.13. Termination of Registration Rights. The rights of any Holder under this ARTICLE II shall terminate
(other than Section 2.6, Section 2.8 and Section 2.13) at such time as (a) such Holder ceases to hold any Registrable Securities or (b) either (i) the Company is no longer required to file reports pursuant to
Section 13(a) or 15(d) of the Exchange Act and has ceased to file reports under the Exchange Act, or (ii) a Form 15 (or any successor form) has been filed under the Exchange Act with respect to the Common Stock, unless, in the case of
clause (b), such situation or filing is due to the occurrence of any merger, consolidation or other transaction upon consummation of which the issuer of the Common Stock is an entity other than the Company, in which event such rights of the Holders
shall not terminate at such time pursuant to such clause (b) and this Agreement shall be assumed by the Survivor as provided in Section 3.2. 
  

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 ARTICLE III 
 MISCELLANEOUS 
 SECTION 3.1. Expenses. Except as otherwise provided herein (and
except as provided in the Securities Purchase Agreement), all expenses incurred in connection with this Agreement and the transactions contemplated hereby shall be paid by the party incurring such expenses. 
 SECTION 3.2. Successors and Assigns; Assignment. Except as otherwise expressly provided herein, the provisions hereof shall inure to the
benefit of, and be binding upon, the successors, permitted assigns, heirs, executors and administrators of the parties hereto. This Agreement may not be assigned without the prior written consent of the other parties, except that this Agreement
(i) may be assigned by a Holder so long as the Person to whom it is being assigned agrees to be bound under this Agreement as a Holder hereunder and delivers a counterpart signature page to this Agreement to the Company and (ii) shall be
assigned by the Company in the event of any merger, consolidation or other transaction upon consummation of which the issuer of the Common Stock is an entity other than the Company (such entity, the “Survivor”) to such Survivor, and
the Company shall not enter into any such transaction unless and until the Survivor assumes all rights and obligations of the Company hereunder pursuant to a written agreement for the benefit of the Holders (it being understood that if the Survivor
is the issuer of the Common Stock and such assumption of the rights and obligations of the Company hereunder occurs by operation of law, that such Survivor shall not be required to execute a written agreement for the benefit of the Holders).

 SECTION 3.3. No Third Party Beneficiaries. Except as specifically provided in Section 2.8 (with respect to which the
Indemnified Parties named therein shall be express, intended third party beneficiaries of such provision), this Agreement is not intended, and shall not be deemed, to confer any rights or remedies upon any Person other than the parties hereto or
otherwise create any third-party beneficiary hereto. 
 SECTION 3.4. Entire Agreement. This Agreement and the other agreements or
documents referred to herein, constitute the full and entire understanding and agreement among the parties with respect to the subject matter hereof and supersede any prior understandings, agreements or representations by or among the parties,
written or oral, that may have related to the subject matter hereof in any way. 
 SECTION 3.5. Severability. In case any
provision of this Agreement shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 
 SECTION 3.6. Amendment and Waiver. No amendment, waiver or other modification of, or consent under, any provision of this Agreement shall be
effective against the Company, unless it is approved in writing by the Company, and no amendment, waiver or other modification of, or 

  

 -18- 

 
consent under, any provision of this Agreement shall be effective against any Holder, unless it is approved in writing by Holders holding a majority of the
Registrable Securities. No waiver of any breach of any agreement or provision herein contained shall be deemed a waiver of any preceding or succeeding breach thereof nor of any other agreement or provision herein contained. 
 SECTION 3.7. Delays or Omissions. It is agreed that no delay or omission to exercise any right, power or remedy accruing to any party, upon
any breach, default or noncompliance by another party under this Agreement, shall impair any such right, power or remedy, nor shall it be construed to be a waiver of any such breach, default or noncompliance, or any acquiescence therein, or of or in
any similar breach, default or noncompliance thereafter occurring. It is further agreed that any waiver, permit, consent or approval of any kind or character on an Holder’s part of any breach, default or noncompliance under this Agreement or
any waiver on such party’s part of any provisions or conditions of this Agreement, must be in writing and shall be effective only to the extent specifically set forth in such writing. All remedies, either under this Agreement, by law, or
otherwise afforded to any party, shall be cumulative and not alternative. 
 SECTION 3.8. Notices. Except as otherwise provided
herein, all notices required or permitted hereunder shall be in writing and shall be deemed effectively given and received: (a) upon personal delivery to the party to be notified; (b) when sent by confirmed facsimile or e-mail if sent
during normal business hours of the recipient, if not, then on the next business day; or (c) one (1) business day after deposit with a nationally recognized overnight courier, specifying next day delivery, with written verification of
receipt. All notices to a Holder shall be delivered to the address of such Holder set forth on the signature page of such Holder hereto (or such other address as such Holder may designate by like notice to the Company hereunder). All notices to the
Company shall be delivered to: 
 Palm, Inc. 
 950 West Maude Avenue 
 Sunnyvale, California 94085 
 Attention: General Counsel 
 Facsimile:
(408) 617-0139 
 with a copy to (which shall not constitute notice): 
 Davis Polk & Wardwell 
 1600 El
Camino Real 
 Menlo Park, California 94025 
 Attn: William M. Kelly, Esq. 
 Facsimile: (650) 752-3603 
 SECTION 3.9. Interpretation. The words “hereof”, “herein” and “hereunder” and words of like import used in this
Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement. When reference is made in this Agreement to an Article or a Section, such reference shall be to an Article or Section of this Agreement, unless
otherwise 

  

 -19- 

 
indicated. The table of contents, table of defined terms and headings contained in this Agreement are for convenience of reference only and shall not affect
in any way the meaning or interpretation of this Agreement. The language used in this Agreement shall be deemed to be the language chosen by the parties hereto to express their mutual intent, and no rule of strict construction shall be applied
against any party. Whenever the context may require, any pronouns used in this Agreement shall include the corresponding masculine, feminine or neuter forms, and the singular form of nouns and pronouns shall include the plural, and vice versa. Any
reference to any federal, state, local or foreign statute or law shall be deemed also to refer to all rules and regulations promulgated thereunder, unless the context requires otherwise, and shall include all amendments of the same and any successor
or replacement statutes and regulations as of the Closing Date. All references to agreements shall mean such agreement as may be amended or otherwise modified from time to time. Whenever the words “include,” “includes” or
“including” are used in this Agreement, they shall be deemed to be followed by the words “without limitation.” 
 SECTION 3.10. Governing Law; Jurisdiction; Waiver of Jury Trial. 
 (a) This Agreement shall be governed in all respects
by the Laws of the State of New York. Any disagreement, issue, dispute, claim, demand or controversy arising out of or relating to this Agreement (each, a “Dispute”) shall be brought in the United States District Court for the
Southern District of New York in New York, New York or any New York State court sitting in New York, New York, so long as one of such courts shall have subject matter jurisdiction over such Dispute. Each of the parties hereby irrevocably consents to
the jurisdiction of such courts (and of the appropriate appellate courts therefrom) in any such Dispute and irrevocably waives, to the fullest extent permitted by Law, any objection that it may now or hereafter have to the laying of the venue of any
such Dispute in any such court and that any such Dispute which is brought in any such court has been brought in an inconvenient forum. Process in any such Dispute may be served on any party anywhere in the world, whether within or without the
jurisdiction of any such court. Without limiting the foregoing, each party agrees that service of process on such party as provided in Section 3.8 shall be deemed effective service of process on such party. 
 (b) EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS
AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. 
 SECTION 3.11. No Special Damages. The parties hereto agree that the
obligations imposed on them in this Agreement are special, unique and of an extraordinary character, and that, in the event of breach by any party, damages would not be an adequate remedy and each of the other parties shall be entitled to specific
performance and injunctive and other equitable relief in addition to any other remedy to which it may be entitled, at law or in equity; and the parties hereto further agree to waive any requirement for the securing or posting of any bond in
connection with the obtaining of any such injunctive or other equitable relief; provided, however, that no Holder shall be entitled to specific performance, injunctive or other equitable relief unless such Holder together with other Holders that
collectively hold at least 40% of the aggregate Registrable Securities then held by 

  

 -20- 

 
the Holders join in the action seeking similar such specific performance, injunctive or other equitable relief, as the case may be, on their own behalf. Each
party agrees that there shall be no special, exemplary, punitive or multiple damages connected with or resulting from any breach of this Agreement, or actions undertaken in connection with or related hereto, including any such damages which are
based upon breach of contract, tort, breach of warranty, strict liability, statute, operation of law or any other theory of recovery, except to the extent such damages are actually paid by a party hereunder to a third party, and hereby waives any
rights to claim such damages. For purposes of clarity, the foregoing does not exclude consequential, indirect or incidental damages. 
 SECTION 3.12. Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be an original, but all of which together shall constitute one instrument. 
 [Remainder of Page Intentionally Left Blank.] 
  

 -21- 

 IN WITNESS WHEREOF, the parties hereto have executed this Registration Rights Agreement as of the date
first set forth above. 
  

			
	PALM, INC.
		
	By:	 	 /s/    Edward T. Colligan

	Name:	 	Edward T. Colligan
	Title:	 	President and CEO
	
	ELEVATION PARTNERS, L.P.
		
	By:	 	Elevation Associates, L.P.,
		 	As General Partner
		
	By:	 	Elevation Associates, LLC,
		 	As General Partner
		
	By:	 	 /s/    Bret Pearlman

	Name:	 	Bret Pearlman
	Title:	 	Member
	
	ELEVATION EMPLOYEE SIDE FUND, LLC
		
	By:	 	Elevation Management, LLC,
		 	its manager
		
	By:	 	 /s/    Bret Pearlman

	Name:	 	Bret Pearlman
	Title:	 	Member

 [Registration Rights Agreement] 

 By executing this Registration Rights Agreement, the undersigned is agreeing to the rights and
obligations of a “Holder” hereunder. 
  

			
	HOLDER
		
	Name of Holder:	 	  

			
	  

		
	By:	 	  

	Name:	 	  

	Title:	 	  

		
	Date:	 	  

		
	Address:	 	  

		 	  

		 	  

 [Registration Rights Agreement] 

 EXHIBIT A 
 “Affiliate” means, with respect to any Person, any other Person that directly, or indirectly through one or more intermediaries, controls, is controlled by or is under common control with, such
specified Person, for so long as such Person remains so associated to the specified Person. 
 “Amended and Restated
Stockholders’ Agreement” means the Amended and Restated Stockholders’ Agreement, dated as of January 9, 2009 among the Company and the Investor Stockholders, as may be amended, supplemented or otherwise modified from time to
time in accordance with the terms thereof. 
 “Booster Period” means such additional period as may be requested by the
Company or an underwriter to accommodate regulatory restrictions on (i) the publication or other distribution of research reports and (ii) analyst recommendations and opinions, including the restrictions contained in NASD
Rule 2711(f)(4) or NYSE Rule 472(f)(4), or any successor provisions or amendments thereto. 
 “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. 
 “Capital Stock” means any and all shares of capital stock of the Company, including without limitation, any and all shares of Common Stock and Preferred Stock. 
 “Common Stock” means the Common Stock, par value $0.001 per share, of the Company and any securities issued in respect thereof, or in
substitution therefor, in connection with any stock split, dividend or combination, or any reclassification, recapitalization, merger, consolidation, exchange or other similar reorganization. 
 “control” or “controlled by” have the meaning set forth in Rule 12b-2 of the Exchange Act. 
 “Conversion Shares” means the Series B Conversion Shares and the Series C Conversion Shares. 
 “Equity Securities” means any and all shares of Capital Stock 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 (including the shares of Series B Preferred Stock, Series C Preferred Stock, the Conversion Shares, Warrants and the Warrant Shares).

 “Exchange” means Nasdaq or the New York Stock Exchange, as the case may be. 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder. 

“Form S-1” means a registration statement on Form S-1 under the Securities Act, or any successor form thereto. 

 “Form S-3” means a registration statement on Form S-3 (other than on Form S-3ASR) under
the Securities Act, or any successor form thereto. 
 “Form S-3ASR” means an “automatic shelf” registration
statement on Form S-3 filed by a Well-Known Seasoned Issuer. 
 “Form S-4” means a registration statement on Form S-4 under
the Securities Act, or any successor form thereto. 
 “Form S-8” means a registration statement on Form S-8 under the
Securities Act, or any successor form thereto. 
 “Holder” means any Investor Stockholder that beneficially owns any
Registrable Securities and any of their respective assignees pursuant to the terms hereof. 
 “incur” means, directly or
indirectly, to incur, refinance, create, assume, guarantee or otherwise become liable. 
 “Issuer Free Writing Prospectus”
shall have the meaning set forth in Rule 433 of the Securities Act. 
 “Nasdaq” means The NASDAQ Stock Market, or any
successor thereto. 
 “NASD” means the National Association of Securities Dealers, Inc. 
 “Person” means any natural person, corporation, limited liability company, trust, joint venture, association, company, partnership,
governmental authority or other entity. 
 “Preferred Stock” means the shares of preferred stock, par value $0.001 per
share, of the Company and any securities issued in respect thereof, or in substitution therefor, in connection with any stock split, dividend or combination, or any reclassification, recapitalization, merger, consolidation, exchange or other similar
reorganization. 
 “Prospectus” means the prospectus included in any registration statement, including any preliminary
prospectus, any final prospectus and any such prospectus as amended or supplemented by any prospectus supplement, including any such prospectus supplement with respect to the terms of the offering of any portion of the Registrable Securities covered
by a registration statement, and by all other amendments and supplements to a prospectus, including post-effective amendments, and in each case including all materials incorporated by reference therein. 
 “Registrable Securities” means (i) the Conversion Shares held by any Holder or issuable upon the conversion of Series B Preferred
Stock or Series C Preferred Stock held by the Holders, (ii) the Warrant Shares held by any Holder or issuable upon the exercise of Warrants held by the Holders, and (iii) any Common Stock or other securities which may be issued, converted,
exchanged or distributed in respect thereof, or in substitution therefor, in connection with any stock split, 

 
dividend or combination, or any recapitalization, reclassification, merger, consolidation, exchange or other similar reorganization with respect to the
Conversion Shares or the Warrant Shares, as the case may be. As to any particular Registrable Securities, once issued, such Registrable Securities shall cease to be Registrable Securities when (i) a registration statement with respect to the
sale by the Holder of such securities shall have become effective under the Securities Act and such securities shall have been disposed of in accordance with such registration statement, (ii) such securities shall have been distributed to the
public pursuant to Rule 144, or (iii) such securities shall have ceased to be outstanding. For purposes of this Agreement, any required calculation of the amount of, or percentage of, Registrable Securities shall be based on the number of
shares of Common Stock which are Registrable Securities, including shares issuable upon the conversion, exchange or exercise of any security convertible, exchangeable or exercisable into Common Stock (including the Series B Preferred Stock, the
Series C Preferred Stock and the Warrants). 
 “Registration Expenses” means any and all expenses incident to performance of
or compliance with ARTICLE II, including (i) all SEC and securities exchange or NASD registration and filing fees (including, if applicable, the fees and expenses of any “qualified independent underwriter,” as such term is defined in
Section 2720 of the bylaws of the NASD, and of its counsel), (ii) all fees and expenses of complying with securities or blue sky laws (including fees and disbursements of counsel for the underwriters in connection with blue sky
qualifications of the Registrable Securities and any escrow fees), (iii) all printing, messenger and delivery expenses, (iv) all fees and expenses incurred in connection with the listing of the Registrable Securities on any securities
exchange, (v) the fees and disbursements of counsel for the Company and of its independent public accountants, including the expenses of any special audits and/or “cold comfort” letters required by or incident to such performance and
compliance, (vi) the reasonable fees and disbursements of counsel selected pursuant to Section 2.10 not to exceed $50,000 in connection with any registration statement, (vii) any fees and disbursements of underwriters customarily paid
by the issuers, including liability insurance if the Company so desires, and (viii) the reasonable expenses incurred by the Company or any underwriters in connection with any “road show” undertaken pursuant to Section 2.1 or
Section 2.4(q). 
 “Restricted Period” shall mean the period of time from the Closing Date to the earlier of
(i) the Restricted Period Termination Date (as defined in the Amended and Restated Stockholders’ Agreement) and (ii) the consummation of a Fundamental Event (as defined in the Amended and Restated Stockholders’ Agreement).

 “Rule 144” means Rule 144 under the Securities Act (or any successor rule). 
 “SEC” means the U.S. Securities and Exchange Commission or any other federal agency then administering the Securities Act or the
Exchange Act and other federal securities laws. 
 “Securities Act” means the Securities Act of 1933, as amended, and the
rules and regulations promulgated thereunder. 

 “Series B Certificate of Designation” means the Certificate of Designation with respect
to the Series B Preferred Stock, as the same may be amended, supplemented or otherwise modified from time to time in accordance with the terms thereof. 
 “Series B Conversion Shares” means the shares of Common Stock that may be issued upon the conversion of the Series B Preferred Stock as provided for in the Series B Certificate of Designation.

 “Series B Preferred Stock” means the Preferred Stock of the Company that is designated as Series B Convertible Preferred
Stock and any securities issued in respect thereof, or in substitution therefor, in connection with any stock split, dividend or combination, or any reclassification, recapitalization, merger, consolidation, exchange or other similar reorganization
(other than the Series B Conversion Shares upon conversion thereof as contemplated by the Series B Certificate of Designation). 
 “Series C Certificate of Designation” means the Certificate of Designation with respect to the Series C Preferred Stock, as the same may be amended, supplemented or otherwise modified from time to time in accordance with
the terms thereof. 
 “Series C Conversion Shares” means the shares of Common Stock that may be issued upon the conversion
of the Series C Preferred Stock as provided for in the Series C Certificate of Designation. 
 “Series C Preferred Stock”
means the Preferred Stock of the Company that is designated as Series C Convertible Preferred Stock and any securities issued in respect thereof, or in substitution therefor, in connection with any stock split, dividend or combination, or any
reclassification, recapitalization, merger, consolidation, exchange or other similar reorganization (other than the Series C Conversion Shares upon conversion thereof as contemplated by the Series C Certificate of Designation). 
 “Transfer” means, directly or indirectly, to sell, transfer, assign, pledge, encumber, hypothecate or similarly dispose of, either
voluntarily or involuntarily, or to enter into any contract, option or other arrangement or understanding with respect to the sale, transfer, assignment, pledge, encumbrance, hypothecation or similar disposition of, any shares of Equity Securities
beneficially owned by a Person or any interest in any shares of Equity Securities Beneficially Owned by a Person. For purposes of clarity, a conversion of the shares of Series B Preferred Stock or Series C Preferred Stock into Conversion Shares is
not a Transfer. 
 “Underwritten Offering” means any Marketed Underwritten Offering, Underwritten Shelf Take-Down or other
underwritten offering pursuant to Section 2.2. 
 “Warrants” means the warrants issued by the Company pursuant to the
Securities Purchase Agreement and any securities issued in respect thereof, or in substitution therefor, in connection with any stock split, dividend or combination, or any reclassification, recapitalization, merger, consolidation, exchange or other
similar reorganization (other than the Warrant Shares upon exercise thereof). 

 “Warrant Shares” means the shares of Common Stock that may be issued upon the exercise
of the Warrants. 
 “Well-Known Seasoned Issuer” has the meaning set forth in Rule 405 under the Securities Act.

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