Document:

Management Stockholders' Agreement

 Exhibit 10.16 
 EXECUTION VERSION 
 MANAGEMENT STOCKHOLDERS’ AGREEMENT 

by and among 

Chinos Holdings, Inc., 
 Chinos Intermediate Holdings A, Inc., 
 Chinos Intermediate Holdings B, Inc.,

 Chinos Acquisition Corporation, 
 and 
 the Principal Investors, the MD Investors and Managers Named Herein

 Dated as of March 7, 2011 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	 	 	 Page

			
	1.	 	EFFECTIVENESS; DEFINITIONS.	 	2
		 	 1.1.
	  	Closing.	 	2
		 	 1.2.
	  	Definitions.	 	2
			
	 2.
	 	 VOTING AGREEMENT.
	 	2
		 	 2.1.
	  	Election of Directors.	 	2
		 	 2.2.
	  	Significant Transactions.	 	2
		 	 2.3.
	  	Consent to Amendment.	 	2
		 	 2.4.
	  	Grant of Proxy.	 	2
		 	 2.5.
	  	The Company.	 	3
		 	 2.6.
	  	Actions by Written Consent.	 	3
		 	 2.7.
	  	Termination of Governance Provisions.	 	3
			
	 3.
	 	 TRANSFER RESTRICTIONS.
	 	3
		 	 3.1.
	  	Limitations on Transfer.	 	3
		 	 3.2.
	  	Permitted Transferees.	 	4
		 	 3.3.
	  	Rights and Obligations of Transferees.	 	4
		 	 3.4.
	  	Transfers Pursuant to Section 5.	 	4
		 	 3.5.
	  	Transfers of Options.	 	5
		 	 3.6.
	  	Manager Lock-Up.	 	5
		 	 3.7.
	  	Period.	 	5
			
	 4.
	 	 “ROFO”, “TAG ALONG” AND “DRAG ALONG” RIGHTS.
	 	5
		 	 4.1.
	  	Right of First Offer.	 	5
		 	 4.2.
	  	Tag-Along.	 	7
		 	 4.3.
	  	Drag-Along.	 	8
		 	 4.4.
	  	Miscellaneous.	 	10
		 	 4.5.
	  	Period.	 	12
			
	 5.
	 	 OPTIONS TO PURCHASE AND SELL SHARES.
	 	12
		 	 5.1.
	  	Call Options.	 	12
		 	 5.2.
	  	Closing.	 	14

							
		 	5.3.	  	Majority Principal Investors Call Option.	 	16
		 	 5.4.
	  	Acknowledgment.	 	16
		 	 5.5.
	  	Call Period.	 	16
			
	 6.
	 	 PREEMPTIVE RIGHTS.
	 	17
		 	 6.1.
	  	Preemptive Rights.	 	17
		 	 6.2.
	  	Termination of Preemptive Rights.	 	19
			
	 7.
	 	 REMEDIES.
	 	19
		 	 7.1.
	  	Generally.	 	19
		 	 7.2.
	  	Deposit.	 	19
			
	 8.
	 	 LEGENDS.
	 	20
		 	 8.1.
	  	Restrictive Legend.	 	20
		 	 8.2.
	  	1933 Act Legends.	 	20
		 	 8.3.
	  	Stop Transfer Instruction.	 	20
		 	 8.4.
	  	Termination of 1933 Act Legend.	 	20
			
	 9.
	 	 AMENDMENT, TERMINATION, ETC.
	 	21
		 	 9.1.
	  	Oral Modifications, Waiver.	 	21
		 	 9.2.
	  	Written Modifications.	 	21
		 	 9.3.
	  	Effect of Termination.	 	21
			
	 10.
	 	 DEFINITIONS.
	 	21
		 	 10.1.
	  	Certain Matters of Construction.	 	21
		 	 10.2.
	  	Definitions.	 	22
			
	 11.
	 	 CONFIDENTIALITY; RESTRICTIVE COVENANT AGREEMENT.
	 	30
		 	 11.1.
	  	Nondisclosure; Return of Documents; Ownership of Work.	 	30
		 	 11.2.
	  	Non-Competition and Non-Solicitation.	 	30
			
	 12.
	 	 MISCELLANEOUS.
	 	31
		 	 12.1.
	  	Authority; Effect.	 	31
		 	 12.2.
	  	Notices.	 	31
		 	 12.3.
	  	Binding Effect, Etc.	 	33
		 	 12.4.
	  	Counterparts.	 	33
		 	 12.5.
	  	Severability.	 	33
		 	 12.6.
	  	No Recourse.	 	34

							
		 	12.7.	  	Merger with J. Crew.	 	34
		 	 12.8.
	  	Waiver by Stockholders.	 	34
		 	 12.9.
	  	J. Crew Liability.	 	35
			
	 13.
	 	 GOVERNING LAW.
	 	35
		 	 13.1.
	  	Governing Law.	 	35
		 	 13.2.
	  	Jurisdiction.	 	35
		 	 13.3.
	  	WAIVER OF JURY TRIAL.	 	35
		 	 13.4.
	  	Exercise of Rights and Remedies.	 	36

 MANAGEMENT STOCKHOLDERS’ AGREEMENT 

This Management Stockholders’ Agreement (this “Agreement”) is made as of March 7, 2011 by and among:

  

	 	(i)	Chinos Holdings, Inc., a Delaware corporation (the “Company”); 

 

	 	(ii)	Chinos Acquisition Corporation, a Delaware corporation (including its successor upon consummation of the Merger (as defined below) “J. Crew”);

  

	 	(iii)	Chinos Intermediate Holdings A, Inc. (“Intermediate A”); 

  

	 	(iv)	Chinos Intermediate Holdings B, Inc. (“Intermediate B”, and together with Intermediate A, “Intermediate Holdings”);

  

	 	(v)	TPG and LGP (each as defined below) (collectively, the “Principal Investors”); 

 

	 	(vi)	the MD Investors (as defined below); and 

  

	 	(vii)	such other Persons who from time to time become party hereto by executing a counterpart signature page hereof and are designated by the Board of Directors as
“Managers” (together with their Permitted Transferees, the “Managers”). 

 Recitals

 1. Chinos Acquisition Corporation, an indirect wholly-owned subsidiary of the Company, the Company and J. Crew Group,
Inc. have entered into an Agreement and Plan of Merger, dated as of November 23, 2010 and as amended by Amendment No. 1 to the Agreement and Plan of Merger dated January 18, 2011, (the “Merger Agreement”) pursuant to
which Chinos Acquisition Corporation will merge with and into J. Crew Group, Inc. (the “Merger”); 
 2. After
the Closing (as defined in the Merger Agreement), the Company will indirectly hold through Intermediate Holdings one hundred percent (100%) of the issued and outstanding common stock of J. Crew; 

3. Each Rollover Manager (as defined below) has, in connection with the Merger, (i) purchased or otherwise acquired shares of the
Company’s Common Stock, in exchange for cash or shares of J. Crew common stock that were outstanding prior to the Merger or (ii) acquired Options in exchange for options entitling the holder to acquire shares of common stock of J. Crew
that were outstanding prior to the Merger; 
 4. Each Manager has been and/or may hereafter be granted Options pursuant to the
Company’s equity incentive plan or may otherwise purchase or acquire shares of Common Stock; 
 5. As a condition to the
issuance of any shares of Common Stock and Options by the Company to any Person who is (or would be designated by the Board of Directors as) a Manager 

 
hereunder, to the extent that such Person is not already a party to this Agreement as a Manager hereunder, such Person shall execute this Agreement as a Manager hereunder; and 

6. The parties believe that it is in the best interests of the Company and the Managers to set forth their agreements on certain matters
and to have this Agreement apply to all Company Shares. 
 Agreement 

Therefore, the parties hereto hereby agree as follows: 
 1. EFFECTIVENESS; DEFINITIONS. 
 1.1. Closing. This
Agreement will become effective upon consummation of the Closing (as defined in the Merger Agreement). 
 1.2.
Definitions. Certain terms are used in this Agreement as specifically defined herein. These definitions are set forth or referred to in Section 10.1 hereof. 
 2. VOTING AGREEMENT. 
 2.1. Election of Directors. Each
Manager hereby agrees to cast all votes to which such Manager is entitled in respect of such Manager’s Company Shares, whether at any annual or special meeting, by written consent or otherwise, (a) to fix the number of members of the board
of directors of the Company (the “Board of Directors”) at such number as may be specified from time to time by TPG and (b) to elect as members of the Board of Directors such individuals as have been nominated from time to time
by the Majority Principal Investors. 
 2.2. Significant Transactions. Each Manager agrees to cast all
votes to which such Manager is entitled in respect of the Company Shares, whether at any annual or special meeting, by written consent or otherwise, in the same proportion as Investor Shares are voted by the Principal Investors to approve any sale,
recapitalization, merger, consolidation, reorganization or any other transaction or series of transactions involving the Company or its subsidiaries (or all or any portion of their respective assets) in connection with, or in furtherance of, the
exercise by the Majority Principal Investors of their rights under Section 4.3. 
 2.3. Consent to
Amendment. Each Manager agrees to cast all votes to which such Manager is entitled in respect of such Manager’s Company Shares, whether at any annual or special meeting, by written consent or otherwise, in the same proportion as Investor
Shares are voted by the Majority Principal Investors to increase the number of authorized shares of Common Stock to the extent necessary to permit the Company to comply with the provisions of its Certificate of Incorporation or any agreement to
which the Company is a party. 
 2.4. Grant of Proxy. Each Manager hereby grants to each Principal
Investor an irrevocable proxy coupled with an interest to vote his, her or its Company Shares in 

 
accordance with his, her or its agreements contained in this Section 2, which proxy will be valid and remain in effect until the termination of this Section 2 in accordance with its
terms. 
 2.5. The Company. The Company agrees not to give effect to any action by any Manager or any
other Person which is in contravention of this Section 2. 
 2.6. Actions by Written Consent. The
Certificate of Incorporation and the by-laws of the Company shall provide that any action required or permitted to be taken at any meeting of stockholders of the Company may be taken by written consent of the requisite stockholders of the Company
without a meeting and without prior notice. The by-laws of the Company shall provide that any action required or permitted to be taken at any meeting of the Board of Directors may be taken without a meeting if all the directors consent thereto in
writing. Any such written consents shall be filed with the minutes of proceedings of the Board of Directors. 

2.7. Termination of Governance Provisions. The provisions of this Section 2 shall terminate and be of no
further force (i) upon the unanimous written consent of the Principal Investors or (ii) other than Section 2.1 (solely with respect to the obligations to vote for director nominees) and Section 2.4, upon the consummation of an
Initial Public Offering of the Company. 
 3. TRANSFER RESTRICTIONS. 

3.1. Limitations on Transfer. 

3.1.1. No Manager may Transfer any or all of its Company Shares except (i) in accordance with Section 3.2
(Permitted Transferees), (ii) after complying with Sections 4.1 (Right of First Offer) and 4.2 (Tag-Along Rights) and, if such Transfer is prior to an Initial Public Offering, with TPG’s prior written consent, (iii) in a transaction
pursuant to Section 4.3 (Drag-Along Rights), (iv) as a Tagging Stockholder in a transaction pursuant to Section 4.2 (Tag-Along Rights) or (v) in a transaction pursuant to Section 5 (Options to Purchase and Sell Shares).

 3.1.2. Notwithstanding the foregoing, in no event shall any Manager or holders of Company Shares originally
issued to a Manager be entitled to Transfer its Company Shares without the prior written consent of the Majority Principal Investors, (i) to any Person (other than an Affiliate) that is actively engaged in the retail, mail order or internet
specialty apparel or accessories business and any other business the Company or its subsidiaries is then engaged, in each case, in any geographic area in which the Company or any of its direct or indirect subsidiaries are engaged in such business or
businesses or (ii) to any Person of which the stockholder is aware (directly or indirectly) (a) holds an ownership interest in any such competitor equal to five percent (5%) or more, (b) has invested $5,000,000 or more in such
competitor or (c) has designated, or has the right to designate, a member of the board of directors of any such competitor, except in each case, in or following the Initial Public Offering and the expiration of any applicable lock-up period, in
any bona fide underwritten public offering or in any Rule 144 Sale. In addition, and notwithstanding any provision of this Agreement to the contrary, no 

 
Stockholder shall be entitled to Transfer its Company Shares at any time if such Transfer would: 
 (a) violate the Securities Act, or any state (or other jurisdiction) securities or “Blue Sky” laws applicable to the Company or the Company Shares; 

(b) cause the Company to be required to register Common Stock under Section 12(g) of the Exchange Act; 

(c) cause the Company to become subject to the registration requirements of the U.S. Investment Company Act of 1940, as
amended from time to time; or 
 (d) be a “prohibited transaction” under ERISA or the Code or cause
all or any portion of the assets of the Company to constitute “plan assets” under ERISA or Section 4975 of the Code. 
 3.1.3. In the event of a purported Transfer by a Stockholder of any Company Shares in violation of the provisions of this Agreement, such purported Transfer will be void and of no effect, and the Company
will not give effect to such Transfer. 
 3.2. Permitted Transferees. Subject to the provisions of the
second sentence of Section 3.1.2, any Manager or Permitted Transferee of a Manager may Transfer any or all of its Company Shares to a Permitted Transferee of the Manager to whom such Company Shares were originally issued; provided that
if Company Shares are transferred to a Permitted Transferee that is not a natural person and such Permitted Transferee subsequently ceases to be an Affiliate of the Manager to whom such Company Shares were originally issued, then such Permitted
Transferee shall, and such Manager shall cause such Permitted Transferee to, Transfer back to such Manager (or to another Permitted Transferee of such Manager) any Company Shares it owns. 

3.3. Rights and Obligations of Transferees. Any Transfer of Company Shares held by a Manager, which Transfer is
otherwise in compliance herewith, shall be permitted hereunder only if the transferee of such Company Shares agrees in writing that it shall, upon such Transfer, assume with respect to such Company Shares the rights and obligations under this
Agreement relating to Company Shares held by Managers and that such Permitted Transferee shall be bound by, and shall be a party to, this Agreement as the holder of such Company Shares and as a “Manager” hereunder; provided,
however, that (x) any Manager that Transfers Company Shares to a Permitted Transferee shall use its reasonable best efforts to cause such Permitted Transferee to perform all of such Manager’s obligations hereunder with respect to
the Transferred Company Shares and (y) this Section 3.3 shall not apply to (i) Transfers of Company Shares to a Stockholder that is already a party to this Agreement, (ii) Transfers pursuant to a registered public offering or
(iii) Transfers pursuant to Section 4.2 or Section 4.3; provided, further that no Transferee (other than any Permitted Transferee of the applicable Manager) shall acquire any of the rights of the applicable transferor
provided in Section 4.2 or Section 6 hereof by reason of such Transfer. 
 3.4. Transfers Pursuant
to Section 5. Any Company Shares Transferred to the Company pursuant to this Agreement (in accordance with Section 5 or otherwise) will 

 
conclusively be deemed thereafter not to be Company Shares under this Agreement and not to be subject to any of the provisions hereof or entitled to the benefit of any of the provisions hereof;
provided, that Company Shares Transferred to any Principal Investor pursuant to Section 5.3 shall thereafter become Investor Shares hereunder. 
 3.5. Transfers of Options. Any Transfer of Options by a Manager or Permitted Transferee that has become a party hereto will be governed by and subject to the terms and conditions of the applicable
equity incentive plan and applicable award agreement. 
 3.6. Manager Lock-Up. In connection with each
underwritten Public Offering each Manager agrees to become bound by and to execute and deliver such lock-up agreement with the underwriter(s) of such Public Offering restricting such Manager’s right to (a) Transfer, directly or indirectly,
any Company Shares or any securities convertible into or exercisable or exchangeable for such Company Shares or (b) enter into any swap or other arrangement that transfers to another any of the economic consequences of ownership of Company
Shares, as is entered into by any participating Principal Investor with the underwriter(s) of such Public Offering; provided, however, that no Manager may be required by this Section 3.6 to be bound by a lock-up agreement covering
a period beginning more than seven (7) days prior to or ending (x) one hundred eighty (180) with respect to Common Stock issued in respect of Options, Warrants or Convertible Securities held by such Manager, or (y) ninety
(90) days (one hundred eighty (180) days in the case of an IPO) with respect to any other Company Shares held by such Manager, in each case following the effectiveness of the related registration statement plus such additional period of up
to 17 days as may be required by the underwriters to satisfy FINRA regulations and permit the managing underwriters’ analysts to publish research updates, which period shall in no event be longer than any such period included in any lock-up
agreement to which any other Manager is subject. Notwithstanding the foregoing, such lock-up agreement shall not apply to (i) transactions relating to shares of Company Shares or other securities acquired in open market transactions after the
completion of the Initial Public Offering (or other Public Offering, as applicable), (ii) Transfers to Permitted Transferees of such Manager in accordance with the terms of this Agreement and (iii) conversions of shares of Company Shares
into other classes of Company Shares without change of holder. 
 3.7. Period. The foregoing provisions of
this Section 3 (other than Sections 3.1.2, 3.3 and 3.6) will terminate and be of further force and effect upon an Initial Public Offering. 
 4. “ROFO”, “TAG ALONG” AND “DRAG ALONG” RIGHTS. 
 4.1. Right of First Offer. (a) If any Manager desires to Transfer all or any portion of its Company Shares in a transaction to which this Section 4.1 applies (any such Manager, a
“ROFO Stockholder”), then each Principal Investor and MD Investor (each, a “ROFO Offeree”) shall have a right of first offer over such Company Shares, which shall be exercised in the following manner: 

4.1.1. The ROFO Stockholder shall provide the ROFO Offerees with written notice (a “ROFO Notice”) of its
desire to Transfer such Company Shares. The ROFO Notice shall specify the number and class of Company Shares the ROFO Stockholder 

 
wishes to Transfer, the proposed purchase price per share (which purchase price shall be in cash or cash equivalents only) for each such class of Company Shares and any other terms and conditions
material to the sale proposed by the ROFO Stockholder. 
 4.1.2. The ROFO Offerees shall have a period of up to
ten (10) Business Days following receipt of the ROFO Notice (the “ROFO Election Period”), to elect to purchase (or to cause one or more of their Affiliates to purchase), in the aggregate, all, but not less than all, of such
Company Shares on the terms and conditions set forth in the ROFO Notice by delivering to the ROFO Stockholder written notice thereof (such electing ROFO Offeree, a “ROFO Purchaser”). In the event that the aggregate number of Company
Shares of an applicable class that the ROFO Purchasers have elected to purchase exceeds the aggregate number of Company Shares of such class subject to the ROFO Notice, the number of Company Shares shall be sold to the ROFO Purchasers as follows:

 (a) there shall be first allocated to each ROFO Purchaser a number of Company Shares of each applicable class
equal to the lesser of (A) the number of Company Shares of such class elected to be purchased by such ROFO Purchaser and (B) a number of Company Shares of such class equal to such ROFO Purchaser’s Pro Rata Portion; and 

(b) the balance, if any, of Company Shares of each applicable class not allocated pursuant to clause (1) above shall
be allocated to those ROFO Purchasers which offered to purchase a number of Company Shares of the applicable class in excess of such ROFO Purchasers’ respective Pro Rata Portions in proportion, as nearly as practicable, to the respective number
of Company Shares of the applicable class which each ROFO Purchaser offered to purchase. 
 (c) If the ROFO
Offerees elect to purchase (or to cause one or more of their Affiliates to purchase) all of the Company Shares which are the subject of the proposed Transfer within the ROFO Election Period, such purchase shall be consummated within thirty
(30) days after the date on which each such ROFO Offeree notifies the ROFO Stockholder of such election (subject to extension if necessary to permit the expiration or early termination of the HSR Waiting Period). Subject to Section 4.2, if
the ROFO Offerees do not elect to purchase all of the Company Shares within the ROFO Election Period, the ROFO Stockholder may Transfer all of the Company Shares of each class specified in the ROFO Notice at any time within one hundred and twenty
(120) days following such period at a price which is not less than the purchase price specified in the ROFO Notice and on terms and conditions no more favorable, in any material respect, to the purchaser than those specified in the ROFO Notice,
and thereafter the ROFO Stockholder may not Transfer any such Company Shares without first following the procedures set forth in this Section 4.1. 
 4.1.3. In connection with the Transfer of all or any portion of a ROFO Stockholder’s Company Shares pursuant to this Section 4.1 to one or more ROFO Offerees, the ROFO Stockholder shall only be
required to represent and warrant as to its 

 
authority to sell, the enforceability of agreements against the ROFO Stockholder, that the Company Shares to be transferred shall be free and clear of any liens, claims or encumbrances (other
than restrictions imposed by this Agreement and pursuant to applicable federal, state and foreign securities laws), that it is the record and beneficial owner of such Company Shares and that it has obtained or made all necessary consents, approvals,
filings and notices from governmental authorities or third parties to consummate the Transfer. 
 4.1.4. The
provisions of this Section 4.1 shall not apply to Transfers of Company Shares (i) to Permitted Transferees in accordance with Section 3.2 (Permitted Transferees); (ii) pursuant to, or consequent upon the exercise of the
drag-along rights set forth in Section 4.3 (Drag-Along Rights); (iii) consequent upon the exercise of the tag-along rights set forth in Section 4.2 (Tag-Along Rights); (iv) pursuant to Section 5 (Options to Purchase and Sell
Shares) or (v) pursuant to a registered public offering. 
 4.2. Tag-Along. Subject to the provisions
of Section 4.1, if and to the extent applicable, a Stockholder proposes to Transfer (a “Transferring Stockholder”) any or all of its Company Shares, other than (i) pursuant to Section 3.2, (ii) to a Stockholder
pursuant to a contractual right providing such Stockholder a right of first offer, (iii) Transfers pursuant to a registered public offering, (iv) pursuant to or consequent upon the exercise of the drag-along rights set forth in
Section 4.3 or drag-along rights or tag-along rights set forth in any other shareholders agreement entered into by the Principal Investors and MD Investors, (v) Transfers by a Principal Investor of less than 20% of any class of Investor
Shares then held by a Principal Investor or (vi) pursuant to Section 5 (a “Proposed Transfer”), each Manager that exercises its rights under this Section 4.2 (a “Tagging Stockholder”), shall have the
right to Transfer its Pro Rata Portion of the same class of Company Shares to the proposed Transferee (a “Proposed Transferee”) on the same terms and conditions as those proposed by the Transferring Stockholder. 

4.2.1. The Transferring Stockholder shall promptly give written notice (a “Tag-Along Notice”) to each
Manager of a Proposed Transfer, setting forth the number and class of Company Shares proposed to be Transferred, the name of the Transferring Stockholder, the name and address of the Proposed Transferee, the proposed per share purchase price (or
amount) and form of consideration for each such class of Company Shares and any other material terms and conditions of the Proposed Transfer. Each Manager shall have a period of fifteen (15) Business Days from the date of the Tag-Along Notice
within which to elect to sell up to its Pro Rata Portion of each class of Company Shares in connection with such Proposed Transfer. Any Manager may exercise such right by delivery of an irrevocable written notice to the Transferring Stockholder
specifying the number of Company Shares of each applicable class (which shall be not more than its Pro Rata Portion) it desires to include in the Proposed Transfer; provided that if the Proposed Transfer involves shares of multiple classes,
each Tagging Stockholder must include Company Shares in the same proportions as are being sold by the Transferring Stockholder. If the Proposed Transferee fails to purchase all Company Shares proposed to be Transferred by the Transferring
Stockholder, other Company stockholders who exercise tag-along rights and participate in such Proposed Transfer and the Tagging Stockholders, then the number of Company Shares the Transferring

 
Stockholder and each Tagging Stockholder is permitted to sell in such Transfer shall be allocated among the Tagging Stockholders and the other Company stockholders who have exercised their
tag-along rights with respect to the Proposed Transfer in proportion, as nearly as practicable, to the respective number of the applicable class of Company Shares which each Tagging Stockholder properly requested to be included in the Proposed
Transfer. The Transferring Stockholder shall have a period of ninety (90) days following the expiration of the fifteen (15) Business Day period, to sell such Company Shares to the Proposed Transferee, on the payment terms specified in the
Tag-Along Notice, and thereafter the Transferring Stockholder may not Transfer any such Company Shares without first following the procedures set forth in this Section 4.2. 

4.2.2. Each Tagging Stockholder shall agree (i) to make the same representations, warranties, covenants, indemnities
and agreements to the Proposed Transferee as made by the Transferring Stockholder in connection with the Proposed Transfer (other than any non-competition, non-solicitation or similar non-financial related agreements or covenants that would bind
such Tagging Stockholder or its Affiliates without such Tagging Stockholder’s prior written consent), and (ii) to the same terms and conditions to the Transfer as the Transferring Stockholder agrees. Notwithstanding the foregoing, however,
all such representations, warranties, covenants, indemnities and agreements shall be made by each Tagging Stockholder and the Transferring Stockholder severally and not jointly, and, except with respect to individual representations, warranties,
covenants, indemnities and other agreements of the Tagging Stockholder as to the unencumbered title to its Company Shares and the power, authority and legal right to Transfer such Company Shares, any liability for breach of any such representations
and warranties or under any indemnities shall be allocated among each Tagging Stockholder, other Company stockholders who have exercised their tag-along rights with respect to such Proposed Transfer and the Transferring Stockholder pro
rata based on the relative sale price of the shares of Common Stock to be Transferred by each of them, and the aggregate amount of liability for each such Tagging Stockholder and the Transferring Stockholder shall not in any event exceed the
U.S. dollar value of the net proceeds received by such Tagging Stockholder or the Transferring Stockholder, respectively, from the Transferee. Any Transfer of Company Shares by a Tagging Stockholder pursuant to the terms hereof shall be at a per
share purchase price (or amount) specified in the Tag-Along Notice, and subject to Section 4.4.1, all Stockholders shall receive the same relative proportion of cash and Marketable Securities. 

4.3. Drag-Along. If TPG agrees at any time to Transfer, in any single or series of related transactions, at least
eighty percent (80%) of the aggregate Purchase Price Value of the Investor Shares then held by TPG and its Affiliates to a non-affiliated third party (a “Drag-Along Transfer” and such purchaser, the “Drag-Along
Buyer”) for cash and/or Marketable Securities, TPG may exercise drag-along rights with respect to all Managers in accordance with the terms, conditions and procedures set forth herein. 

4.3.1. TPG shall promptly give notice (a “Drag-Along Notice”) to each Manager (the “Drag-Along
Stockholders”) of any election by TPG to exercise its drag-along rights under this Section 4.3, setting forth the name and address of the Transferee, the total number and class of Investor Shares proposed to be Transferred by TPG and
its 

 
Affiliates, the proposed amount per share and form of consideration for each such class of Investor Shares and all other material terms and conditions of the Drag-Along Transfer. Such notice
shall also specify the number and class of Company Shares such Drag-Along Stockholders shall be required to Transfer, up to such Drag-Along Stockholders’ Pro Rata Portion for each applicable class of Company Shares; provided that the
portion of Company Shares of a class with respect to each Drag-Along Stockholder is the same relative proportion for all Drag-Along Stockholders. Any Transfer of Company Shares by a Drag-Along Stockholder pursuant to the terms hereof shall be at the
same per share purchase price for each class of Company Shares sold by TPG and its Affiliates and specified in the Drag-Along Notice and each Drag-Along Stockholder shall receive the same relative proportion of cash and Marketable Securities.

 4.3.2. Each Drag-Along Stockholder agrees, severally and not jointly, to (i) make individual
representations, warranties, covenants, indemnities and other agreements solely as to the title to, and the absence of any Adverse Claims with respect to, its Company Shares and the power, authority and legal right to Transfer such Company Shares,
(ii) execute and deliver agreements, covenants and indemnities as made by TPG in connection with the Drag-Along Transfer (other than any non-competition, non-solicitation or other non-financial agreements or covenants that would bind such
Drag-Along Stockholder or its Affiliates without the prior written consent of such Drag-Along Stockholder), (iii) agree to, except as provided in the preceding subclause (ii), the same terms and conditions to the Transfer as TPG agrees,
(iv) not demand or exercise appraisal or dissenters rights under any applicable business corporation or other law with respect to a transaction subject to this Section 4.3 as to which such appraisal rights are available and (v) be
liable as to all representations, warranties, covenants, indemnities and other agreements being made, agreed to or delivered by the Company or any of its subsidiaries, or in respect of the Company or any of its subsidiaries or their respective
businesses, in connection with such transaction (other than the individual representations, warranties, covenants, indemnities and other agreements of the type set forth in subclause (i)), in each case to the same extent as TPG but pro
rata based on the relative proceeds to be received by each of them from the sale of the shares of Common Stock Transferred by each of them. Notwithstanding the foregoing, the aggregate amount of liability for TPG and such Drag-Along
Stockholders shall not in any event exceed the U.S. dollar value of the net proceeds received by TPG and such Drag-Along Stockholders, respectively. 
 4.3.3. In the event that any such Transfer is structured as a merger, consolidation, or similar business combination, each Drag-Along Stockholder agrees to (i) vote in favor of the transaction,
(ii) take such other action as may be required to effect such transaction. 
 4.3.4. Solely for purposes of
Section 4.3.3(i) and in order to secure the performance of each Manager’s obligations under Section 4.3.3(i), each Manager hereby irrevocably appoints TPG (or a designee thereof) the attorney-in-fact and proxy of such Manager (with
full power of substitution) to vote or provide a written consent with respect to its Company Shares as described in this paragraph if, and only in the event that, such Manager fails to vote or provide a written consent with respect to its Company
Shares in accordance with the terms of Section 4.3.3(i) (each such Manager, a “Breaching 

 
Drag-Along Stockholder”) within three (3) days of a request for such vote or written consent. Upon such failure, the TPG (or a designee thereof) shall have and is hereby
irrevocably granted a proxy to vote or provide a written consent with respect to each such Breaching Drag-Along Stockholder’s Company Shares for the purposes of taking the actions required by Section 4.3.3(i). Each Manager intends this
proxy to be, and it shall be, irrevocable and coupled with an interest, and each Manager will take such further action and execute such other instruments as may be necessary to effectuate the intent of this proxy and hereby revokes any proxy
previously granted by it with respect to the matters set forth in Section 4.3.3(i) with respect to the Company Shares owned by such Manager. Notwithstanding the foregoing, the conditional proxy granted by this Section 4.3.4 shall be deemed
to be revoked upon the termination of this Section 4.3 in accordance with its terms. 
 4.4.
Miscellaneous. The following provisions will apply to any proposed Transfer to which Sections 4.1, 4.2. and 4.3, unless otherwise stipulated, apply: 
 4.4.1. Certain Legal Requirements. In the event the consideration to be paid in exchange for Company Shares in a proposed Transfer pursuant to Section 4.2 or Section 4.3 hereof includes
any securities, and the receipt thereof by a Tagging Stockholder or Drag-Along Stockholder (each, a “Participating Seller”) would require under applicable law (a) the registration or qualification of such securities or of any
person as a broker or dealer or agent with respect to such securities or (b) the provision to any Tagging Stockholder or Drag-Along Stockholder of any information regarding the Company, such securities or the issuer thereof, such Participating
Seller will not have the right to sell Company Shares in such proposed Transfer. In such event, the Transferring Stockholder (in a Transfer pursuant to Section 4.2 hereof) or TPG (in a Transfer pursuant to Section 4.3 hereof) shall have
the right, but not the obligation, to cause to be paid to such Participating Seller in lieu thereof, against surrender of the Company Shares (in accordance with Section 4.4.6 hereof) which would have otherwise been sold by such Participating
Seller to the Proposed Transferee or Drag-Along Buyer, as applicable, in the proposed Transfer, an amount in cash equal to the Fair Market Value of such Company Shares as of the date such securities would have been issued in exchange for such
Company Shares. 
 4.4.2. Further Assurances. Each Participating Seller and each Manager Transferring any
Company Shares to a ROFO Purchaser pursuant to Section 4.1, whether in his, her or its capacity as a Participating Seller, stockholder, officer or director of the Company, or otherwise, shall take or cause to be taken all such actions as may be
necessary or reasonably desirable in order expeditiously to consummate each Transfer pursuant to Section 4.1, Section 4.2 or Section 4.3 hereof and any related transactions, including, without limitation, executing, acknowledging and
delivering consents, assignments, waivers and other documents or instruments; furnishing information and copies of documents; filing applications, reports, returns, filings and other documents or instruments with governmental authorities; and
otherwise using commercially reasonable efforts to cooperate with the ROFO Purchaser (in a Transfer pursuant to Section 4.1 hereof), Transferring Stockholder (in a Transfer pursuant to Section 4.2 hereof) or TPG

 
(in a Transfer pursuant to Section 4.3 hereof), as applicable, and the Proposed Transferee or Drag-Along Buyer, as applicable. 

4.4.3. Sale Process. The Transferring Stockholder (in a Transfer pursuant to Section 4.2 hereof) or TPG (in a
Transfer pursuant to Section 4.3 hereof), as applicable, may, in their sole discretion, decide whether or not to pursue, consummate, postpone or abandon any proposed Transfer and the terms and conditions thereof. No Principal Investor or any
Affiliate of any Principal Investor will have any liability to any Manager arising from, relating to or in connection with the pursuit, consummation, postponement, abandonment or terms and conditions of any proposed Transfer except to the extent
such Principal Investor has failed to comply with the provisions of this Section 4. 
 4.4.4. Treatment
of Options, Warrants and Convertible Securities. Each Participating Seller agrees that to the extent he, she or it desires to include vested and exercisable Options, Warrants or Convertible Securities in any Transfer of Company Shares pursuant
to this Section 4, he, she or it will be deemed to have exercised, converted or exchanged such vested and exercisable Options, Warrants or Convertible Securities immediately prior to the closing of such Transfer to the extent necessary to
Transfer shares of Common Stock to the Proposed Transferee, except to the extent permitted under the terms of any such Option, Warrant or Convertible Security and agreed to by the Board of Directors and the Proposed Transferee. In the event that
Options, Warrants or Convertible Securities are deemed exercised pursuant to the preceding sentence, payment of any purchase or exercise price, if applicable, and minimum statutory withholding tax amount, if any, shall be satisfied through payment
of shares of Common Stock otherwise deliverable upon such exercise, conversion, or exchange. If any Participating Seller Transfers Options, Warrants or Convertible Securities in any Transfer pursuant to this Section 4, such Participating Seller
shall receive in exchange for such Options, Warrants or Convertible Securities consideration equal to the amount (if greater than zero) determined by multiplying (a) the purchase price per share of the appropriate class of Common Stock received
by the Transferring Stockholder in such Transfer less the unpaid exercise or conversion price, if any, per share of such Option, Warrant or Convertible Security by (b) the number of shares of the appropriate class of Common Stock issuable upon
exercise, conversion or exchange of such Option, Warrant or Convertible Security (to the extent exercisable, convertible or exchangeable at the time of such Transfer), subject to reduction for any tax or other amounts required to be withheld under
applicable law. 
 4.4.5. Expenses. All reasonable costs and expenses, including all attorneys fees and
charges, all accounting fees and charges and all finders, brokerage or investment banking fees, charges or commissions, incurred in connection with any proposed Transfer, (a) pursuant to Section 4.2 hereof (whether or not consummated),
shall be allocated among the Transferring Stockholder, each Participating Seller and any other Stockholder who participates in such Transfer pro rata based on the relative proceeds to be received by each of them from the sale of the
shares of Common Stock to be Transferred by each of them, and (b) pursuant to Section 4.3 hereof (whether or not) consummated, shall be borne by the Company. 

 4.4.6. Closing. The closing of a Transfer to which Section 4.1,
4.2 or 4.3 hereof applies will take place at such time and place as the ROFO Stockholder specifies (in a Transfer pursuant to Section 4.1 hereof), Transferring Stockholder that is a Principal Investor specifies (in a Transfer pursuant to
Section 4.2 hereof) or TPG specifies (in a Transfer pursuant to Section 4.3 hereof) by notice to each ROFO Offeree or Participating Seller, as applicable, each subject to any restrictions as to timing set forth in Section 4.1, 4.2 or
4.3. At the closing of such Transfer, each ROFO Purchaser or Participating Seller, as applicable, shall deliver the certificates evidencing the Company Shares to be sold by such ROFO Purchaser or Participating Seller, as applicable, duly endorsed,
or with stock (or equivalent) powers duly endorsed, for transfer with signature guaranteed, free and clear of any Adverse Claim, with any stock (or equivalent) transfer tax stamps affixed, against delivery of the applicable consideration.

 4.5. Period. The provisions of this Section 4 shall terminate and be of no further force and
effect upon an Initial Public Offering. 
 5. OPTIONS TO PURCHASE AND SELL SHARES. 

5.1. Call Options. Except as the Company may otherwise agree in writing with any Manager with respect to Company
Shares held by such Manager (or any Person to whom any shares of Common Stock were originally issued at the request of such Manager) or originally issued to such Manager (or other Person at the request of such Manager) but held by one or more direct
or indirect Permitted Transferees (collectively, the “Management Call Group”), upon any termination of the employment by the Company and its subsidiaries of any Manager (whether such termination is by the Company, by such Manager or
otherwise), the Company will have the right to purchase for cash all or any portion of Purchased Management Shares held by the Management Call Group on the following terms (the “Management Call Option”): 

5.1.1. General. For all Purchased Management Shares, the following terms will apply: 

(a) Termination other than for Cause. If, prior to an Initial Public Offering, a Manager’s employment is
terminated for any reason other than for Cause (including as a result of death, Disability or Retirement), the Company (or its designated assignee) will have the right, on one or more occasions, at any time up to and including the date that is
ninety (90) days following the later to occur of (x) the termination of such Manager’s employment and (y) the date that is six (6) months plus one (1) day following the most recent acquisition of Purchased Management
Shares from the Company by any member of such Manager’s Management Call Group, to purchase from such Management Call Group, and upon the exercise of such call right each member of such Management Call Group shall sell to the Company (or its
designated assignee), all (or a portion, as designated by the Company, or its designated assignee) of the Purchased Management Shares (including Rollover Equity) held by such member of the Management Call Group as of the date as of which such call
right is exercised at a price equal to the Fair Market Value of the Purchased Management Shares being sold, determined as of the date such 

 
Management Call Notice (as defined below) is delivered, which date shall be no earlier than the date that is six (6) months plus one (1) day following the most recent acquisition from
the Company by any member of such Manager’s Management Call Group of any such Purchased Management Shares that are to be purchased by the Company pursuant to such exercised call right and shall be no later than the last date on which the
Company is permitted to issue a Management Call Notice in respect of such Purchased Management Shares under this Section 5.1.1(a). 
 (b) Termination for Cause. If a Manager’s employment is terminated for Cause (or it is determined that such Manager’s employment could have been terminated for Cause at the time such
Manager resigned or his or her employment was otherwise terminated), the Company (or its designated assignee) will have the right, on one or more occasions, at any time up to and including the date that is one hundred and eighty (180) days
following the later to occur of (x) the termination of such Manager’s employment and (y) the date that is six (6) months plus one (1) day following the most recent acquisition of Purchased Management Shares from the Company
by any member of such Manager’s Management Call Group, to purchase from such Manager’s Management Call Group, and upon the exercise of such call right each member of such Management Call Group shall sell to the Company (or its designated
assignee), all (or a portion, as designated by the Company or its designated assignee) of the Purchased Management Shares (including Rollover Equity) held by such member of the Management Call Group as of the date as of which such call right is
exercised at a price (the “Bad Leaver Price”) equal to the lesser of (i) the Fair Market Value of the Purchased Management Shares being sold, determined as of the date such Management Call Notice is delivered, which date shall
be no earlier than the date that is six (6) months plus one (1) day following the most recent acquisition from the Company by any member of such Manager’s Management Call Group of any such Purchased Management Shares that are to be
purchased by the Company pursuant to such exercised call right and shall be no later than the last date on which the Company is permitted to issue a Management Call Notice in respect of such Purchased Management Shares under this
Section 5.1.1(b), and (ii) the price paid, if any, by such Manager for such Purchased Management Shares (the “Original Purchase Price”); provided, that for purposes of the foregoing clause (ii), the price paid by a
Manager for a share acquired upon exercise of an Option, Warrant or Convertible Security will be deemed to be equal to the exercise price of such Option, Warrant or Convertible. 

(c) Violation of Non-Competition Obligations. If a Manager’s employment is terminated for any reason or if a
Manager resigns his or her employment for any reason and, within twelve (12) months of such termination or resignation, such Manager Competes, the Company (or its designated assignee) will have the right, on one or more occasions, at any time
up to and including the date that is ninety (90) days following the later to occur of (x) the first date on which the Company receives notice that such Manager Competed and (y) the date that is six (6) months plus one
(1) day following the most recent acquisition of Purchased Management Shares from the Company by any member of such Manager’s Management Call Group, to purchase from such Management Call Group, and upon the exercise of such call right

 
each member of such Management Call Group shall sell to the Company (or its designated assignee), all (or a portion, as designated by the Company or its designated assignee) of the Purchased
Management Shares (including Rollover Equity) held by such member of the Management Call Group as of the date as of which such call right is exercised at a price equal to the Bad Leaver Price. 

5.1.2. Notices, Etc. Any Management Call Option may be exercised by delivery of written notice thereof (the
“Management Call Notice”) to all members of the applicable Management Call Group from whom the Company has elected to purchase Purchased Management Shares no later than the end of the applicable 90 or 180 day period specified in
Section 5.1.1. The Management Call Notice shall state that the Company has elected to exercise the Management Call Option, the number of Purchased Management Shares with respect to which the Management Call Option is being exercised and the
price of such shares. 
 5.1.3. Vesting. The rights of the Company and the Majority Principal Investors to
purchase Company Shares under this Section 5 are in addition to, and do not modify, any vesting or exercisability requirements that may be included in the terms of any such Company Shares. 

5.2. Closing. 
 5.2.1. The closing of any purchase and sale of Company Shares pursuant to this Section 5 shall occur on such date as the Company shall specify, which date shall not be later than ninety
(90) days after the fiscal quarter-end immediately following the date of delivery of the Management Call Notice (provided, that such time may be extended as necessary to comply with requirements of the HSR Waiting Period or applicable
foreign antitrust laws or other applicable legal requirements) at the principal office of the Company, or at such other time and location as the parties to such purchase may mutually determine. 

5.2.2. At the closing of any purchase and sale of Company Shares following the exercise of any Management Call Option, the
holders of Company Shares to be sold shall deliver to the Company a certificate or certificates representing the Company Shares to be purchased by the Company, duly endorsed, or with stock (or equivalent) powers duly endorsed, for transfer with
signature guaranteed, free and clear of any lien or encumbrance, with any necessary stock (or equivalent) transfer tax stamps affixed, and the Company shall pay to such holder by certified or bank check or wire transfer of immediately available
federal funds the purchase price of the Company Shares being purchased by the Company. The delivery of a certificate or certificates for Company Shares by any Person selling Company Shares pursuant to any Management Call Option will be deemed a
representation and warranty by such Person that: (i) such Person has full right, title and interest in and to such Company Shares; (ii) such Person has all necessary power and authority and has taken all necessary action to sell such
Company Shares as contemplated; (iii) such Company Shares are free and clear of any and all liens or encumbrances; and (iv) there is no Adverse Claim with respect to such Company Shares. 

 5.2.3. If (i) any payment of cash is required upon the purchase of
Company Shares by the Company upon the exercise of any Management Call Option or (ii) any payment on a promissory note issued under this Section 5.2.3 comes due, and, in either case, such payment (or any dividend to fund such payment)
would (or with notice or the lapse of time or both would) constitute, result in or give rise to a breach or violation of the terms or provisions of, or result in a default, event of default or right or cause of action under, any guarantee, financing
or security agreement, indenture or document entered into by the Company or any of its subsidiaries and in effect on such date in respect of indebtedness for borrowed money or debt security, would be prohibited under Section 160
(“Section 160”) of the General Corporation Law of the State of Delaware (the “DGCL”), or would otherwise violate the DGCL (or if the Company or any such subsidiary reincorporates in another jurisdiction, the
applicable business corporation law of such jurisdiction), then, to the extent permitted by Section 160: 

(a) in the case of a cash payment due at a closing of any purchase of Company Shares by the Company upon the exercise of
any Management Call Option, the Company will issue a promissory note in the aggregate principal amount of such payment, the principal amount of which note will be due and payable (in four equal annual installments, the first such installment
becoming due and payable on the first anniversary of the issuance of such note (in each case subject to subsection 5.2.3(c) below) and interest will accrue thereon at a rate equal to the prime rate (as reported in the Wall Street Journal Eastern
Edition) plus three percent (3%)); 
 (b) in the case of a cash payment in respect of a promissory note issued
under this Section 5.2.3, notwithstanding any of the provisions of such note, including without limitation, the stated maturity of such note and the stated date on which interest payments are due, such payment will not become due and payable
until such time as such payment can be made without violating any such agreement; and 
 (c) notwithstanding the
terms of any promissory note issued pursuant to this Section 5.2.3, the Company must pay off the promissory note at the earliest of (i) a Change of Control, (ii) the Initial Public Offering (but only to the extent of the net proceeds
received by the Company in such Initial Public Offering), (iii) five (5) Business Days after the date on which a cash payment paying off such promissory note could be made (1) without (immediately or with notice or the lapse of time
or both) constituting, resulting in or giving rise to any breach or violation of the terms or provisions of, or result in a default, event of default or right or cause of action under, any guarantee, financing or security agreement, indenture or
document entered into by the Company or any of its subsidiaries and in effect on such date in respect of indebtedness for borrowed money or debt security, (2) that would not be prohibited under Section 160, and (3) that would not
otherwise violate the DGCL (or if the Company or any such subsidiary reincorporates in another jurisdiction, the applicable business corporation law of such jurisdiction) and (iv) the date on which any cash dividend or distribution is made in
respect of Company Shares. At any such time, the Company shall promptly notify the holder of such promissory note and make a payment on each such promissory note. If more than one such promissory note is

 
outstanding at the time of payment, payment shall be made to the holders of all such promissory notes on a pro rata basis. 

5.2.4. In the event that the Company has exercised its call right pursuant to Section 5.1 with respect to Company
Shares held by (i) a Manager who (A) Competes within twelve (12) months of such Manager’s termination of employment or resignation as described in Section 5.1.1(c) or (B) is determined to have been eligible for
termination for Cause, in each case following the Company’s exercise of such call right, and/or (ii) one or more members of such Manager’s Management Call Group that held Company Shares, such Manager and/or such members of such
Manager’s Management Call Group will be obligated to deliver to the Company, within five (5) days following notice from the Company that such amount is due, an amount equal to the product of (x) the number of Company Shares purchased
in connection with the exercise of the call right, multiplied by (y) the excess, if any, of the price paid for such Company Shares over the Bad Leaver Price for such Company Shares. 

5.3. Majority Principal Investors Call Option. If the Company elects not to purchase (pursuant to Section 5.1
hereof) any or all Purchased Management Shares held by a Manager or one or more members of such Manager’s Management Call Group, the Company shall notify the Majority Principal Investors and the Majority Principal Investors may purchase any or
all of the remaining Purchased Management Shares held by such Persons for the purchase price identified in Section 5.1.1 hereof; provided, that nothing in this Section 5.3 will operate to extend the time within which the Management
Call Notice may be delivered pursuant to Section 5.1.2 hereof. The right to purchase such Company Shares shall be allocated pro rata among the Majority Principal Investors based upon the Purchase Price Value of the shares of Common Stock then
held by such Majority Principal Investors (unless the Majority Principal Investors agree otherwise); provided, further that Purchased Management Shares Transferred to any Majority Principal Investor shall thereafter become Investor
Shares hereunder. 
 5.4. Acknowledgment. Each Manager and member of any Manager’s Management Call
Group acknowledges and agrees that neither the Company, nor any Person directly or indirectly affiliated with the Company (in each case whether as a director, officer, manager, partner employee, agent or otherwise), will have any duty or obligation
to affirmatively disclose to him, her or it, and he, she or it will not have any right to be advised of, any material information regarding the Company or otherwise at any time prior to, upon, or in connection with any termination of his, her or its
employment by the Company and its subsidiaries upon the exercise of any Management Call Option or any purchase of the Company Shares in accordance with the terms hereof. 

5.5. Call Period. The foregoing provisions of this Section 5 will expire with respect to any Company Share not
called, if not earlier expired in accordance with the provisions of this Section 5, upon the earlier to occur of (a) an Initial Public Offering or (b) a Change of Control. 

 6. PREEMPTIVE RIGHTS. 

6.1. Preemptive Rights. At any time following the Closing Date until an Initial Public Offering, if the Company,
Intermediate Holdings, J. Crew or any of their respective subsidiaries proposes to issue additional Company Shares or equity securities of the Company, Intermediate Holdings, J. Crew or any of their respective subsidiaries, including any warrants,
options or other rights to acquire Company Shares, equity securities of the Company, Intermediate Holdings, J. Crew or any of their respective subsidiaries or debt securities that are convertible into Company Shares or equity securities of the
Company, Intermediate Holdings, J. Crew or any of their respective subsidiaries to any Person (with the exception of any issuance (i) as consideration in any merger, acquisition or similar transaction, (ii) in an Initial Public Offering,
(iii) as consideration in a joint venture or any other strategic transaction, (iv) to a financial institution in connection with any borrowing, (v) to employees, advisors or consultants pursuant to an employee incentive plan approved
by the Board of Directors or to employees pursuant to a subscription agreement for the purchase of shares in connection with the Closing, (vi) by a direct or indirect subsidiary of the Company, Intermediate Holdings, J. Crew or any of their
respective subsidiaries to the Company, Intermediate Holdings, J. Crew or any of their respective subsidiaries, (vii) as a result of the conversion of convertible securities or the exercise of any warrants, options or other rights (in each
case, having been issued in accordance with this Section 6.1 and otherwise approved in accordance with the terms of this Agreement) and (viii) in connection with any stock split, stock combination, stock dividend, distribution or
recapitalization) (a “New Issuance” and any such Company Shares or equity securities of the Company, Intermediate Holdings, J. Crew or any of their respective subsidiaries, “Newly Issued Securities”), the Company
shall provide written notice to each Rollover Manager of such anticipated issuance no later than fifteen (15) Business Days prior to the anticipated issuance date (the “Preemptive Rights Notice”). The Preemptive Rights Notice
shall set forth the material terms and conditions of the New Issuance, including the proposed purchase price for the Newly Issued Securities, the anticipated issuance date, and the purpose of such New Issuance. Each Rollover Manager shall have the
right to purchase up to its Pro Rata Portion of such Newly Issued Securities at the price and on the terms and conditions specified in the Preemptive Rights Notice by delivering an irrevocable written notice to the Company no later than five
(5) Business Days before the anticipated issuance date, setting forth the number of such Newly Issued Securities for which such right is exercised. Such notice shall also include the maximum number of Newly Issued Securities such Rollover
Manager would be willing to purchase in the event any other Stockholder with preemptive rights and entitled to participate elects to purchase less than its Pro Rata Portion of such Newly Issued Securities. If any such stockholder elects not to
purchase its full Pro Rata Portion of such Newly Issued Securities, the Company shall allocate any remaining amount among those Rollover Managers (pro rata in accordance with the Over-Allocation Pro Rata Portion of each such
Stockholder up to, in the case of each such stockholder, the maximum number specified by such Stockholder pursuant to the immediately preceding sentence) who have indicated in their notice to the Company a desire to purchase Newly Issued Securities
in excess of their respective Pro Rata Portions. 
 6.1.1. In the event the stockholders with preemptive rights
and entitled to participate do not purchase all such Newly Issued Securities (including the Rollover 

 
Managers in accordance with the procedures set forth in Section 6.1), the Company, Intermediate Holdings, J. Crew or the other relevant subsidiary, as applicable, shall have sixty
(60) days after the expiration of the anticipated issuance date (subject to extension if necessary to permit the expiration or early termination of the HSR Waiting Period) to sell to other Persons (including any Stockholder) the remaining Newly
Issued Securities at the price and on the terms and conditions specified in the Preemptive Rights Notice. If the Company, Intermediate Holdings, J. Crew or the other relevant subsidiary, as applicable, fails to sell such Newly Issued Securities
within such period, the Company, Intermediate Holdings, J. Crew or the other relevant subsidiary, as applicable, shall not thereafter issue or sell such Newly Issued Securities without first offering the same to the Stockholders in the manner
provided in Section 6.1. 
 6.1.2. In the event that any Rollover Manager purchases any equity securities
from the Company, Intermediate Holdings, J. Crew or any subsidiary thereof, other than new Company Shares pursuant to Section 6.1, such Stockholder shall execute a shareholders’ agreement with respect to such securities with terms that are
substantially equivalent, mutatis mutandis, to this Agreement; provided that such shareholders’ agreement shall terminate upon the same terms and conditions as provided herein. 

6.1.3. Any Newly Issued Securities constituting shares of capital stock of the Company acquired by any holder of Company
Shares pursuant to this Section 6 shall be deemed for all purposes hereof to be Company Shares, hereunder of like kind with the Company Shares then held by the acquiring holder. 

6.1.4. The election by a Rollover Manager not to exercise its preemptive rights under Section 6.1 in any one instance
shall not affect its right (other than in respect of a reduction in its Ownership Interest, if applicable) to exercise its preemptive rights with respect to any future issuances under Section 6.1. Any attempted Transfer of such securities by
the Company, Intermediate Holdings, J. Crew or any other subsidiary without first giving the Stockholders the rights described in Section 6.1 shall be void and of no force and effect. 

6.1.5. Notwithstanding the notice requirements of Section 6.1 above, the Company may proceed with any New Issuance
prior to having complied with the provisions of Section 6.1; provided that the Company shall: 
 (a)
provide to each such holder of Company Shares who would have been a recipient of a Preemptive Rights Notice (i) notice within five (5) Business Days thereafter of such New Issuance and (ii) the Preemptive Rights Notice described in
Section 6.1 in which the actual purchase price of Newly Issued Securities shall be set forth; 
 (b) offer
to issue to each such holder of Company Shares such number of Newly Issued Securities as may be requested by such holder (not to exceed an amount equal to (i) the Pro Rata Portion that such holder would have been entitled to pursuant to
Section 6.1 multiplied by the number of Newly Issued Securities included in the New Issuance plus (ii) a number of additional securities sufficient to permit such 

 
holder to acquire, in total, the same percentage of the aggregate number of all securities included in the relevant New Issuances effected pursuant to this Section 6.1 as such holder would
have been entitled to acquire had the Company proceeded with the relevant New Issuances under Section 6.1 rather than pursuant to this Section 6.1.5 on the same economic terms and conditions with respect to such securities as the
subscribers in the New Issuance received); and 
 (c) keep such offer open for a period of at least five
(5) Business Days, during which period, each such holder may accept such offer by sending a written acceptance to the Company committing to purchase an amount of such securities (not in any event to exceed the Pro Rata Portion that such holder
would have been entitled to pursuant to Section 6.1 multiplied by the number of all such Newly Issued Securities included in all such relevant New Issuances). 

6.2. Termination of Preemptive Rights. The provisions of this Section 6 shall terminate and be of no further
force and effect upon an Initial Public Offering. 
 7. REMEDIES. 

7.1. Generally. It is hereby agreed and acknowledged that it will be impossible to measure in money the damages
that would be suffered if the parties fail to comply with any of the obligations herein imposed on them by this Agreement and that, in the event of any such failure, an aggrieved party will be irreparably damaged and will not have an adequate remedy
at law. Any such party shall, therefore, be entitled (in addition to any other remedy to which such party may be entitled at law or in equity) to injunctive relief, including specific performance, to enforce such obligations, without the posting of
any bond, and if any action should be brought in equity to enforce any of the provisions of this Agreement, none of the parties hereto shall raise the defense that there is an adequate remedy at law. 

7.2. Deposit. Without limiting the generality of Section 7.1 hereof, if any holder of Company Shares fails to
deliver to the purchaser thereof the certificate or certificates evidencing Company Shares to be Transferred pursuant to Section 4 or 5 hereof, such purchaser may, at its option, in addition to all other remedies it may have, deposit the
purchase price (including any promissory note constituting all or any portion thereof) for such Company Shares with any national bank or trust company having combined capital, surplus and undivided profits in excess of Five Hundred Million Dollars
($500,000,000) (the “Escrow Agent”) and the Company will cancel on its books the certificate or certificates representing such Company Shares and thereupon all of such holder’s rights in and to such Company Shares shall
terminate. Thereafter, upon delivery to the Escrow Agent by such holder of the certificate or certificates evidencing such Company Shares (duly endorsed, or with stock powers duly endorsed, for transfer, with signature guaranteed, free and clear of
any liens or encumbrances, and with any transfer tax stamps affixed), TPG shall instruct the Escrow Agent to deliver the purchase price (without any interest from the date of the closing to the date of such delivery, any such interest to accrue to
such purchaser) to such holder and the certificate or certificates to such purchaser. 

 8. LEGENDS. 

8.1. Restrictive Legend. Each certificate evidencing the Company Shares issued to a Manager shall bear the
following restrictive legend, either as an endorsement or on the face thereof: 
 THE SALE, ASSIGNMENT, TRANSFER
OR OTHER DISPOSITION OF THE SECURITIES EVIDENCED BY THIS CERTIFICATE IS RESTRICTED BY THE TERMS OF A MANAGEMENT STOCKHOLDERS’ AGREEMENT, DATED AS OF MARCH 7, 2011 TO WHICH THE ISSUER AND CERTAIN OF ITS STOCKHOLDERS ARE PARTY, COPIES OF WHICH
ARE ON FILE WITH THE ISSUER OF THIS CERTIFICATE. NO SALE, ASSIGNMENT, TRANSFER OR OTHER DISPOSITION SHALL BE EFFECTIVE UNLESS AND UNTIL THE TERMS AND CONDITIONS OF SUCH MANAGEMENT STOCKHOLDERS’ AGREEMENT HAVE BEEN COMPLIED WITH IN FULL.

 THE SHARES OF STOCK REPRESENTED BY THIS CERTIFICATE WERE ORIGINALLY ISSUED TO, OR ISSUED WITH RESPECT TO
SHARES ORIGINALLY ISSUED TO OR AT THE REQUEST OF, THE FOLLOWING MANAGER:             . 
 8.2. 1933 Act Legends. Each certificate representing Company Shares will have the following legend endorsed conspicuously thereupon: 

THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS
AMENDED, OR UNDER THE SECURITIES LAWS OF ANY OTHER JURISDICTION AND MAY NOT BE SOLD OR TRANSFERRED OTHER THAN IN ACCORDANCE WITH THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT OF 1933, AS AMENDED (OR OTHER APPLICABLE LAW), OR AN EXEMPTION
THEREFROM. 
 8.3. Stop Transfer Instruction. The Company will instruct any transfer agent not to register
the Transfer of any Company Shares until the conditions specified in the foregoing legends are satisfied. 
 8.4.
Termination of 1933 Act Legend. In the event that the restrictive legend set forth in Section 7.1 or Section 7.2 has ceased to be applicable, the Company shall provide any Stockholder, or their respective transferees, at their
request, without any expense to such Persons (other than applicable transfer taxes and similar governmental charges, if any), with new certificates for such securities of like tenor not bearing the legend with respect to which the restriction has
ceased and terminated (it being understood that the restriction referred to in the legend in Section 7.2 shall cease and terminate upon the termination of this Section 7). 

 9. AMENDMENT, TERMINATION, ETC. 

9.1. Oral Modifications, Waiver. This Agreement may not be orally amended, modified, extended or terminated, and no
oral waiver of any of its terms may be effective. No waiver of any breach of any of the terms of this Agreement shall be effective unless such waiver is expressly made in writing and executed and delivered by the party against whom such waiver is
claimed. The waiver by any party hereto of a breach of any provision of this Agreement shall not operate or be construed as a further or continuing waiver of such breach or as a waiver of any other or subsequent breach. Except as otherwise expressly
provided herein, no failure on the part of any party to exercise, and no delay in exercising, any right, power or remedy hereunder, or otherwise available in respect hereof at law or in equity, shall operate as a waiver thereof, nor shall any single
or partial exercise of such right, power or remedy by such party preclude any other or further exercise thereof or the exercise of any other right, power or remedy. 

9.2. Written Modifications. This Agreement may be amended, modified, extended or terminated, and the provisions
hereof may be waived, only by an agreement in writing signed by the Company, TPG, the Majority Principal Investors and the Majority Managers; provided, however, that (i) any amendment, modification, extension, termination or
waiver (an “Amendment”) will also require the consent of Managers holding a majority in interest of the Company Shares held by all Managers who would be disproportionately and adversely affected by the Amendment (other than solely
with respect to the number of Company Shares held by such Manager) relative to the other Managers and (ii) any Amendment will also require the consent of LGP or the MD Investors, as applicable, to the extent LGP or the MD Investors, as
applicable, would be disproportionately and adversely affected by the Amendment relative to TPG. Each Amendment will be binding upon each party hereto and each holder of Company Shares subject hereto. In addition, each party hereto and each holder
of Company Shares subject hereto may waive any right hereunder by an instrument in writing signed by that party or holder. 
 9.3. Effect of Termination. No termination under this Agreement will relieve any Person of liability for breach prior to termination. 

10. DEFINITIONS. For purposes of this Agreement: 
 10.1. Certain Matters of Construction. In addition to the definitions referred to or set forth below in this Section 10: 

10.1.1. The meanings of defined terms are equally applicable to the singular and plural forms of the defined terms.

 10.1.2. The words “hereof”, “herein”, “hereunder” and
similar words refer to this Agreement as a whole and not to any particular provision of this Agreement; and any subsection and section references are to this Agreement unless otherwise specified. 

10.1.3. The term “including” is not limiting and means “including without limitation.”

 10.1.4. The captions and headings of this Agreement are for convenience of
reference only and shall not affect the interpretation of this Agreement. 
 10.1.5. Whenever the context
requires, any pronouns used herein shall include the corresponding masculine, feminine or neuter forms. 
 10.2.
Definitions. The following terms have the following meanings: 
 “Adverse Claim” has the meaning set
forth in Section 8-302 of the applicable Uniform Commercial Code. 
 “Affiliate” means, with respect to
any specified Person, (a) any other Person which directly or indirectly through one or more intermediaries controls, or is controlled by, or is under common control with, such specified Person (for the purposes of this definition,
“control” (including, with correlative meanings, the terms “controlling,” “controlled by” and “under common control with”), as used with respect to any Person, means the possession, directly or indirectly, of
the power to direct or cause the direction of the management or policies of such Person, whether through the ownership of voting securities, by agreement or otherwise) and (b) with respect to any natural Person, any Member of the Immediate
Family of such natural Person; provided that, in any event, no Stockholder shall be deemed an Affiliate of the Company or any of its subsidiaries for purposes of this Agreement. 

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

“Amendment” has the meaning set forth in Section 9.2. 

“Bad Leaver Price” has the meaning set forth in Section 5.1.1. 

“Board of Directors” has the meaning set forth in Section 2.1. 

“Breaching Drag-Along Stockholder” has the meaning set forth in Section 4.3.4. 

“Business Day” means any day other than a Saturday, Sunday or day on which banking institutions in New York, New York
are authorized or obligated by law or executive order to close. 
 “Cause” with respect to Company Shares held
by Managers, means (a) in the case of any Manager who is party to an employment, severance-benefit, change in control or similar agreement that contains a definition of “Cause,” the definition set forth in such agreement shall apply
with respect to such Manager under this Agreement during the term of such agreement and (b) in the case of any other Manager, (i) a material breach by the Manager of his or her employment agreement with the Company or an Affiliate of the
Company, any equity grant agreement, or any material policy of the Company or its Affiliates generally applicable to similarly situated employees of the Company or its Affiliates; (ii) the failure by the Manager to reasonably and substantially
perform his or her duties to the Company or any of its Affiliates, which failure is materially damaging to the financial condition or reputation of the Company or its Affiliates; (iii) the Manager’s willful misconduct or gross negligence
which is injurious to the Company or an Affiliate of the Company; or (iv) the indictment of the Manager for a felony or 

 
other serious crime involving moral turpitude. In the case of clauses (i) and (ii) above, the Company shall permit the Manager no less than thirty (30) days to cure such breach or
failure if reasonably susceptible to cure. For the avoidance of doubt, if a Manager is party to an employment, severance-benefit, change in control or similar agreement that contains a definition of “Cause,” the determination as to whether
Cause exists, and any procedures (including any due process rights) that are required to be followed prior to a termination for Cause, shall be made in accordance with the terms of such agreement. 

“Change of Control” means (a) any change in the ownership of the capital stock of the Company if, immediately after
giving effect thereto, any Person (or group of Persons acting in concert) other than the Principal Investors and their Affiliates will have the direct or indirect power to elect a majority of the members of the Board of Directors; (b) any
change in the ownership of the capital stock of the Company if, immediately after giving effect thereto, the Principal Investors and their Affiliates own less than 25% of the Equivalent Shares; or (c) the sale of all or substantially all of the
assets of the Company and its subsidiaries. 
 “Class A Stock” means the Class A Common Stock, par value
$.001 per share of the Company. 
 “Class L Stock” means the Class L Common Stock, par value $.001 per share of
the Company. 
 “Closing Date” means March 7, 2011. 

“Code” means the U.S. Internal Revenue Code of 1986, as amended. Any reference to a section of the Code shall include a
reference to any successor provision thereto. 
 “Common Stock” means the common stock of the Company including
the Class A Stock and the Class L Stock (and any shares of capital stock of the Company issued or issuable with respect to such common stock by way of a stock dividend or distribution payable thereon or stock split, reverse stock split,
recapitalization, reclassification, reorganization, exchange, subdivision or combination thereof). 
 “Company”
has the meaning set forth in the preamble. 
 “Company Shares” means (a) all shares of Common Stock
originally issued to, or issued with respect to shares originally issued to, or held by, a Principal Investor, MD Investor or Manager, whenever issued, including all shares of Common Stock issued upon the exercise, conversion or exchange of any
Options, Warrants or Convertible Securities and (b) all Options, Warrants and Convertible Securities originally granted or issued to a Principal Investor, MD Investor or Manager (treating such Options, Warrants and Convertible Securities as a
number of Company Shares equal to the number of Equivalent Shares represented by such Options, Warrants and Convertible Securities for all purposes of this Agreement except (i) solely with respect to the Managers, for purposes of
Section 4.2 and Section 6 and (ii) as otherwise specifically set forth herein). 
 “Compete”
means, with respect to a Manager, the breach by such Manager of any non-competition or non-solicitation covenant or a material breach of any confidentiality, non-disclosure 

 
or other similar covenant made by such Manager in favor of the Company or any subsidiary of the Company, and “Competes”, “Competed” and
“Competition” will each have a correlative meaning. 
 “Convertible Securities” means any
evidence of indebtedness, shares of stock (other than Class L Stock) or other securities (other than Options and Warrants) which are directly or indirectly convertible into or exchangeable or exercisable for Company Shares. 

“DGCL” has the meaning set forth in Section 5.2.3 hereof. 

“Disability” means, with respect to any Manager holding Company Shares, (a) in the case of any Manager who is a
party to an employment or severance-benefit agreement that contains a definition of “Disability,” the definition set forth in such agreement will apply with respect to such Manager under this Agreement during the term of such agreement and
(b) in the case of any other Manager, a disability that would entitle a Manager to long-term disability benefits under the Company’s long-term disability plan in which the Manager participates. Notwithstanding the foregoing, in any case in
which a benefit that constitutes or includes “nonqualified deferred compensation” subject to Section 409A would be payable by reason of Disability, the term “Disability” will mean a disability described in Treas. Regs.
Section 1.409A-3(i)(4)(i)(A). 
 “Drag-Along Buyer” has the meaning set forth in Section 4.3 hereof.

 “Drag-Along Notice” has the meaning set forth in Section 4.3.1 hereof. 

“Drag-Along Stockholders” has the meaning set forth in Section 4.3.1 hereof. 

“Drag-Along Transfer” has the meaning set forth in Section 4.3 hereof. 

“Equivalent Shares” means, at any date of determination, (a) as to any outstanding shares of Common Stock, such
number of shares of Common Stock and (b) as to any outstanding Options, Warrants or Convertible Securities which constitute Company Shares, the maximum number of shares of Common Stock for which or into which such Options, Warrants or
Convertible Securities may at the time be exercised, converted or exchanged (or which will become exercisable, convertible or exchangeable on or prior to, or by reason of, the transaction or circumstance in connection with which the number of
Equivalent Shares is to be determined). 
 “ERISA” means the Employee Retirement Income Security Act of 1974,
as amended, and any successor statute of similar import, in each case as in effect from time to time. 
 “Escrow
Agent” has the meaning set forth in Section 7.2 hereof. 
 “Exchange Act” means the Securities
Exchange Act of 1934, as amended, and any successor thereto, and any rules and regulations promulgated thereunder, all as the same shall be in effect from time to time. 
 “Fair Market Value” means, as of any date, as to any share of Common Stock, the Board of Directors’ good faith determination of the fair value of such share as of the applicable
reference date. 

 “FINRA” means the Financial Industry Regulatory Authority. 

“HSR Waiting Period” means the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.

 “Initial Public Offering” means the first Underwritten Offering of equity securities of the Company or any
of its subsidiaries pursuant to an effective registration (other than on Form S-4, S-8 or a comparable form) under the Securities Act. 
 “Intermediate A” has the meaning set forth in the preamble. 

“Intermediate B” has the meaning set forth in the preamble. 

“Intermediate Holdings” has the meaning set forth in the preamble. 

“Investor Shares” means (a) all shares of Common Stock originally issued to, or issued with respect to shares
originally issued to, or held by, a Principal Investor, whenever issued, including all shares of Common Stock issued upon the exercise, conversion or exchange of any Options, Warrants or Convertible Securities and (b) all Options, Warrants and
Convertible Securities originally granted or issued to a Principal Investor (treating such Options, Warrants and Convertible Securities as a number of Company Shares equal to the number of Equivalent Shares represented by such Options, Warrants and
Convertible Securities for all purposes of this Agreement except as otherwise specifically set forth herein). 

“J.Crew” has the meaning set forth in the preamble. 

“LGP” means, collectively, Green Equity Investors V, L.P., Green Equity Investors Side V, L.P. and LGP Chino Coinvest
LLC and each of their respective Affiliates that is or becomes a holder of Company Shares under the Principal Investors Stockholders’ Agreement. 
 “Majority in Interest” means, (a) with respect to calculations with regard to Company Shares of a single class, a majority of such Company Shares and (b) with respect
calculations with regard to Company Shares of more than one class, a majority in aggregate Purchase Price Value of such Company Shares. 
 “Majority Principal Investors” means, as of any date, (a) holders of a Majority in Interest of the Company Shares held by the Principal Investors and (b) solely for the purposes
of Section 5.3 hereof, LGP and TPG. The Managers shall be entitled to rely upon written notice from TPG specifying that the Principal Investors constituting the “Majority Principal Investors” for purposes of the action, approval,
consent or other provision in question have approved or consented to such matter or authorized such action. 
 “Majority
Managers” means, as of any date, the holders of a Majority in Interest of the Company Shares held by the Managers. 

“Management Call Group” has the meaning set forth in Section 5.1 hereof. 

“Management Call Notice” has the meaning set forth in Section 5.1.2 hereof. 

 “Management Call Option” has the meaning set forth in Section 5.1
hereof. 
 “Managers” has the meaning set forth in the preamble. 

“Marketable Securities” means securities that are (i) traded on a national securities exchange in the United States
or on an established stock exchange in Europe or Asia, (ii) reported through an established automated inter-dealer quotation system in the United States, Europe or Asia and, in each case, are not subject to any restrictions on transfer as a
result of applicable contract provisions, the provisions of the Securities Act (or regulations thereunder other than the volume and method of sale restrictions applicable to affiliates of an issuer pursuant to Rule 144 promulgated thereunder or any
successor thereto), or other applicable law. 
 “MD” means Millard S. Drexler. 

“MD Investors” means MD, The Drexler Family Revocable Trust, The Millard S. Drexler 2009 Grantor Retained Annuity Trust
#1 and The Millard S. Drexler 2009 Grantor Retained Annuity Trust #2 and each of their respective Affiliates that is or becomes a holder of Company Shares. 
 “Members of the Immediate Family” means, with respect to any individual, each spouse or child or other descendants of such individual, each trust created solely for the benefit of one or
more of the aforementioned Persons and their spouses, each custodian or guardian of any property of one or more of the aforementioned Persons in his capacity as such custodian or guardian and any partnership or limited liability company of which the
aforementioned Persons or their spouses are the only partners or members, as applicable. 
 “Merger” has the
meaning set forth in the Recitals. 
 “Merger Agreement” has the meaning set forth in the Recitals. 

“New Issuance” has the meaning set forth in Section 6.1 hereof. 

“Newly Issued Securities” has the meaning set forth in Section 6.1 hereof. 

“Options” means any options (other than pursuant to Section 5 hereof) to subscribe for, purchase or otherwise
directly acquire shares of Common Stock. 
 “Original Purchase Price” has the meaning set forth in
Section 5.1.1(b) hereof. 
 “Over-Allocation Pro-Rata Portion” means, a number of Newly Issued Securities
not purchased by the Rollover Managers in accordance with Section 6.1 or the Principal Investors or the MD Investors in accordance with Section 5.1 of the Principal Investors Stockholders’ Agreement determined by multiplying
(i) the number of such Newly Issued Securities not purchased by the Rollover Managers in accordance with Section 6.1 or the Principal Investors or MD Investors in accordance with Section 5.1 of the Principal Investors
Stockholders’ Agreement by (ii) the percentage of the total Purchase Price Value of the Company Shares outstanding immediately prior to giving effect to such New Issuance held by all of the Rollover Managers, Principal Investors and MD
Investors that have elected to purchase more than their Pro Rata 

 
Portion (as defined herein, with respect to such Rollover Managers and as defined in the Principal Investors’ Stockholders’ Agreement with respect to such Principal Investors and MD
Investors) which the Purchase Price Value of the Company Shares held by the relevant Rollover Manager, Principal Investor or MD Investor desiring to purchase more than their Pro Rata Portion (as defined herein, with respect to such Rollover Managers
and as defined in the Principal Investors’ Stockholders’ Agreement with respect to such Principal Investors and MD Investors) pursuant to Section 6.1 hereof, or, in the case of the Principal Investors or the MD Investors, pursuant to
Section 5.1 of the Principal Investors Stockholders’ Agreement, constitutes. 
 “Participating
Seller” has the meaning set forth in Sections 4.4.1 hereof. 
 “Permitted Transferee” means,
(a) with respect to a Manager or a Permitted Transferee of a Manager that is a natural person, (i) a Member of the Immediate Family of such Manager and (ii) on such Manager’s or such Permitted Transferee’s death, such
Manager’s or Permitted Transferee’s executors, administrators, testamentary trustees, legatees or beneficiaries whether or not such recipients are Members of the Immediate Family of such holder and (b) with respect to a Manager’s
Permitted Transferee that is not a natural person, an Affiliate of such Manager, and the Manager. 
 “Person”
means an individual, partnership, limited liability company, corporation, trust, association, estate, unincorporated organization or a government or any agency or political subdivision thereof. 

“Preemptive Rights Notice” has the meaning set forth in Section 6.1 hereof. 

“Principal Investors” has the meaning set forth in the preamble. 

“Principal Investors Stockholders’ Agreement” means the Principal Investors Stockholders’ Agreement, dated
March 7, 2011, by and among the Company, Intermediate Holdings, the Principal Investors, the MD Investors, J. Crew and such other Persons who from time to time become party thereto in accordance with the terms thereof, as the same may be
amended from time to time. 
 “Pro Rata Portion” means: 

(a) for purposes of Section 4.1 (with respect to the right of first offer), with respect to each class of Company Shares, a number
of Company Shares of such class determined by multiplying (i) the number of Company Shares of such class subject to the right of first offer by (ii) a fraction, the numerator of which is the number of shares of Common Stock of such class
held by the relevant ROFO Offeree and the denominator of which is the aggregate number of shares of Common Stock of such class held by the ROFO Offerees who have elected to purchase Company Shares of such class covered by the relevant ROFO Notice;

 (b) for purposes of Section 4.2 (with respect to tag-along rights), with respect to each class of Company Shares, a
number of Company Shares of such class determined by multiplying (i) the number of Company Shares of such class held by the Tagging Stockholder by (ii) a fraction, the numerator of which is the number of Company Shares of such class
proposed to be 

 
Transferred by the Transferring Stockholder in connection with the Proposed Transfer and the denominator of which is the aggregate number of Company Shares of such class held by such Transferring
Stockholder; 
 (c) for purposes of Section 4.3 (with respect to drag-along rights), with respect to each class of Company
Shares, a number of Company Shares of such class determined by multiplying (i) the number of Company Shares of such class held by a Drag-Along Stockholder by (ii) a fraction, the numerator of which is the number of Company Shares of such
class proposed to be Transferred by TPG to the Drag-Along Buyer and the denominator of which is the aggregate number of Company Shares of such class held by TPG; and 
 (d) for purposes of Section 6.1 (with respect to preemptive rights), a number of Newly Issued Securities determined by multiplying (i) the number of Newly Issued Securities that the Company,
Intermediate Holdings, J. Crew or other relevant subsidiary, as applicable, proposes to issue on the relevant issuance date by (ii) the percentage of the total Purchase Price Value of Company Shares held by all Company Stockholders entitled to
preemptive rights hereunder or under the Principal Investors Stockholders’ Agreement immediately prior to giving effect to such New Issuance which the Purchase Price Value of the Company Shares held by the relevant Rollover Manager constitutes

 “Proposed Transfer” has the meaning set forth in Section 4.2 hereof. 

“Proposed Transferee” has the meaning set forth in Sections 4.2 hereof 

“Public Offering” means a public offering and sale of Common Stock for cash pursuant to an effective registration
statement under the Securities Act. 
 “Purchased Management Shares” means, with respect to a Manager (or a
Person to whom any Company Shares were originally issued at the request of such Manager) or direct or indirect Permitted Transferee of a Manager (or any such Person to whom any Company Shares were originally issued at the request of such Manager),
all of the Company Shares which are not Options, Warrants or Convertible Securities held by such Manager, person or Permitted Transferee, if applicable. 
 Purchase Price Value” means: (a) $1.00, in the case of a share of Class A Stock and (b) $4.50, in the case of a share of Class L Stock, in each case appropriately adjusted for
any stock split, stock dividend, combination, recapitalization or the like involving such class. 

“Retirement” means retirement from active employment with the Company or an Affiliate after age 65, or after age 55 and
completion of at least 5 years of employment with the Company or an Affiliate, as applicable. 
 “ROFO Election
Period” has the meaning set forth in Section 4.1.2. 
 “ROFO Notice” has the meaning set for in
Section 4.1.1. 
 “ROFO Offeree” has the meaning set forth in Section 4.1. 

 “ROFO Purchaser” has the meaning set forth in Section 4.1.2.

 “ROFO Stockholder” has the meaning set forth in Section 4.1. 

“Rollover Equity” means Rollover Shares and Company Shares acquired upon the exercise of Rollover Options. 

“Rollover Manager” means each Manager that purchased or otherwise acquired Company Shares in exchange for shares of
common stock or options of J. Crew held by such Manager immediately prior to the Merger or shares purchased for cash in connection with the Merger. 
 “Rollover Options” means those options granted to the Rollover Managers in substitution for options of J. Crew granted to such Rollover Managers by J. Crew prior to the Merger and
outstanding immediately prior to the Merger. 
 “Rollover Shares” means those shares purchased or otherwise
acquired by the Rollover Managers in exchange for shares of J. Crew held by such Rollover Managers immediately prior to the Merger or shares purchased for cash in connection with the Merger. 

“Rule 144” means Rule 144 under the Securities Act (or any successor Rule). 

“Section 160” has the meaning set forth in Section 5.2.3 hereof. 

“Securities Act” means the United States Securities Act of 1933, as amended, and any successor thereto, and any rules
and regulations promulgated thereunder, all as the same shall be in effect from time to time. 
 “Stockholder”
means any holder of shares of Common Stock. 
 “Tag-Along Notice” has the meaning set forth in
Section 4.2.1 hereof. 
 “Tagging Stockholder” has the meaning set forth in Section 4.2 hereof.

 “TPG” means, collectively, TPG Chinos, L.P. and TPG Chinos Co-Invest, L.P., and each of their respective
Affiliates that is or becomes a holder of Company Shares under the Principal Investors Stockholders’ Agreement. 
 “Transfer” means, with respect to any Company Shares, a direct or indirect transfer, sale, exchange, assignment, pledge, hypothecation or other encumbrance or other disposition of such
Company Shares, including the grant of an option or other right, whether directly or indirectly, whether voluntarily, involuntarily or by operation of law; and “Transferred”, “Transferee” and
“Transferability” shall each have a correlative meaning. For the avoidance of doubt, from the date of this Agreement until (i) with respect to the Principal Investors or the MD Investors, the earlier of (A) the 5th anniversary of the Closing Date and (B) an Initial Public
Offering and (ii) with respect to the other Stockholders, an Initial Public Offering, it shall constitute a “Transfer” subject to the restrictions on Transfer contained or referenced in Section 3.1 if a transferee is not an
individual, a trust or an estate, and the transferor or an Affiliate thereof ceases to control such transferee (in which case, the applicable Stockholder shall cause such former Affiliate to 

 
promptly Transfer all Company Shares held by such former Affiliate to a Permitted Transferee of such Stockholder). 
 “Transferring Stockholder” has the meaning set forth in Section 4.2 hereof. 
 “Warrants” means any warrants to subscribe for, purchase or otherwise directly acquire Company Shares. 
 11. CONFIDENTIALITY; RESTRICTIVE COVENANT AGREEMENT. To protect the interests of the Company and its direct and indirect subsidiaries (collectively, the “J.Crew Companies”), including the
confidential information of the J.Crew Companies and the confidential information of their respective customers, data suppliers, prospective customers and other companies with which the J.Crew Companies have a business relationship, and in
consideration of the covenants and promises and other valuable consideration described in this Agreement, the Company and Manager agree as follows: 
 11.1. Nondisclosure; Return of Documents; Ownership of Work. Each Manager acknowledges and agrees that he or she remains bound by the confidentiality and other covenants contained in the
restrictive covenant and confidentiality agreements that he or she has executed with the Company or its subsidiaries, and that any covenants in such agreements shall remain in full force and effect in accordance with their terms. Each Manager also
acknowledges and agrees that the Company shall be an affiliate for purposes of such restrictive covenant and confidentiality agreements. Additionally, each Manager shall keep confidential this Agreement, the transactions contemplated hereby and any
non-public information received pursuant to this Agreement and shall not disclose, issue any press release or otherwise make any public statement in connection therewith without the prior written consent of the Majority Principal Investors and the
Company; provided that such Manager may disclose any such information (i) as has become generally available to the public, (ii) to the extent necessary in order to comply with any law, order, regulation, ruling or stock exchange rules
applicable to such Manager and (iii) as may be required in response to any summons or subpoena or in connection with any litigation, it being agreed that, unless such information has been generally available to the public, if such information
is being requested pursuant to a summons or subpoena or a discovery request in connection with a litigation, (x) such Manager shall, to the extent permitted by applicable law, give the Company notice of such request and shall cooperate with the
Company at the Company’s request so that the Company may, in its discretion, seek a protective order or other appropriate remedy, if available, and (y) in the event that such protective order is not obtained (or sought by the Company after
notice), such Manager (a) shall furnish only that portion of the information which, in accordance with the advice of counsel, is legally required to be furnished and (b) will exercise its reasonable efforts to obtain assurances that
confidential treatment will be accorded such information. 
 11.2. Non-Competition and Non-Solicitation.
Each Manager acknowledges the opportunity to participate in the Company’s Option or Common Stock investment programs, as the case may be, and the financial benefits that may accrue from such participation, is good, valuable and sufficient
consideration for each Manager’s acknowledgement and agreement that he or she remains bound by the non-competition and non-solicitation 

 
covenants contained in the restrictive covenant agreement(s) that he or she has executed with any of the J.Crew Companies, if applicable. 

12. MISCELLANEOUS. 
 12.1. Authority; Effect. Each party hereto represents and warrants to and agrees with each other party that the execution and delivery of this Agreement and the consummation of the transactions
contemplated hereby have been duly authorized on behalf of such party and do not violate any agreement or other instrument applicable to such party or by which its assets are bound. This Agreement does not, and may not be construed to, give rise to
the creation of a partnership among any of the parties hereto, or to constitute any of such parties members of a joint venture or other association. The Company shall cause its subsidiaries to be jointly and severally liable for any payment
obligation of the Company pursuant to this Agreement. 
 12.2. Notices. Unless otherwise specified herein,
all notices, consents, approvals, reports, designations, requests, waivers, elections and other communications authorized or required to be given pursuant to this Agreement shall be in writing and shall be given, made or delivered by personal
hand-delivery, by facsimile transmission, by electronic mail, by mailing the same in a sealed envelope, registered first-class mail, postage prepaid, return receipt requested, or by air courier guaranteeing overnight delivery (and such notice shall
be deemed to have been duly given, made or delivered (a) on the date received, if delivered by personal hand delivery, (b) on the date received, if delivered by facsimile transmission, by electronic mail or by registered first-class mail
prior to 5:00 p.m. prevailing local time on a Business Day, or if delivered after 5:00 p.m. prevailing local time on a Business Day or on other than a Business Day, on the first Business Day thereafter and (c) two (2) Business Days after
being sent by air courier guaranteeing overnight delivery), addressed to the Stockholder at the following addresses (or at such other address for a Stockholder as shall be specified by like notice): 

if to the Company to: 
 TPG Capital, L.P. 
 345 California Street, Suite 3300 

San Francisco, CA 94104 
 Attention: General Counsel 
 Facsimile: 415-743-1501 

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

 Ropes & Gray LLP 

The Prudential Tower 
 800 Boylston Street 
 Boston, Massachusetts 02119 

			
	Attention:	  	Alfred O. Rose, Esq.
		  	Julie H. Jones, Esq.

 Facsimile:
617-951-7050 
 If to J.Crew: 
 J. Crew Group Inc. 
 770 Broadway 12th Floor 

New York, NY 10003 
 Attention: General Counsel 
 Facsimile: 203-845-5302 

with a copy (which shall not constitute notice) to: 
 Ropes & Gray LLP 
 The Prudential Tower 

800 Boylston Street 
 Boston, Massachusetts 02119 

			
	Attention:	  	Alfred O. Rose, Esq.
		  	Julie H. Jones, Esq.

 Facsimile:
617-951-7050 
 If to the Principal Investors: 

TPG Capital, L.P. 
 345 California Street, Suite 3300 
 San Francisco, CA 94104 

Attention: General Counsel 
 Facsimile: 415-743-1501 
 with a copy (which shall not constitute notice) to:

 Ropes & Gray LLP 
 The Prudential Tower 
 800 Boylston Street 

Boston, Massachusetts 02119 

			
	Attention:	  	Alfred O. Rose, Esq.
		  	Julie H. Jones, Esq.

 Facsimile:
617-951-7050 
 and 

 Leonard Green & Partners 

11111 Santa Monica Boulevard Suite 2000 
 Los Angeles, CA 90025 

			
	Attention:	  	James D. Halper
		  	Todd M. Purdy

 Facsimile: 310-954-0404

 with a copy (which shall not constitute notice) to: 
 Latham & Watkins LLP 
 885 Third Avenue 

New York, NY 10022 

			
	Attention:	  	Howard A. Sobel, Esq.
		  	Jason Silvera, Esq.

 Facsimile:
212-751-4864 
 If to a Manager, to the most recent address of such Manager shown on the records of the Company. 

Notice to the holder of record of any shares of capital stock will be deemed to be notice to the holder of such shares for all purposes
hereof. 
 12.3. Binding Effect, Etc. Except for restrictions on Transfer of Company Shares set forth in
other agreements, plans or other documents and except for such other agreements entered into by and among the Company, Chinos Acquisition Corporation, the Principal Investors and MD Investors, this Agreement constitutes the entire agreement of the
parties with respect to its subject matter, supersedes all prior or contemporaneous oral or written agreements or discussions with respect to such subject matter, and will be binding upon and inure to the benefit of the parties hereto and their
respective heirs, representatives, successors and assigns and there shall be no third-party beneficiaries to this Agreement. Notwithstanding the foregoing, in the event of any conflict between the provisions of this Agreement and the provisions of
the Principal Investors Stockholders’ Agreement, the provisions of the Principal Investors Stockholders’ Agreement shall govern. Except as otherwise expressly provided herein or in connection with a Transfer of Company Shares by a
Principal Investor or MD Investor, no Principal Investor, Manager or other party hereto may assign any of its respective rights or delegate any of its respective obligations under this Agreement without the prior written consent of the other parties
hereto, and any attempted assignment or delegation in violation of the foregoing will be null and void. This Agreement reflects the mutual intent of the parties and no rule of construction against the drafting party will apply. 

12.4. Counterparts. This Agreement may be executed in any number of separate counterparts each of which when so
executed shall be deemed to be an original and all of which together shall constitute one and the same agreement. 
 12.5. Severability. In the event that any provision of this Agreement shall be invalid, illegal or unenforceable such provision shall be construed by limiting it so as to be valid,

 
legal and enforceable to the maximum extent provided by law and the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.

 12.6. No Recourse. Notwithstanding anything that may be expressed or implied in this Agreement, the
Company, Merger Sub, Intermediate Holdings, J.Crew and each holder of Company Shares hereunder covenant, agree and acknowledge that no recourse under this Agreement or any documents or instruments delivered in connection with this Agreement may be
had against any current or future director, officer, employee, general or limited partner, manager, member or stockholder of any Company stockholder or of any Affiliate or assignee thereof, as such, whether by the enforcement of any assessment or by
any legal or equitable proceeding, or by virtue of any statute, regulation or other applicable law, it being expressly agreed and acknowledged that no personal liability whatsoever will attach to, be imposed on or otherwise be incurred by any
current or future director, officer, employee, general or limited partner, manager, member or stockholder of any Company stockholder or of any Affiliate or assignee thereof, as such, for any obligation of any Company stockholder under this Agreement
or any documents or instruments delivered in connection with this Agreement for any claim based on, in respect of or by reason of such obligations or their creation; provided that, for the avoidance of doubt, the foregoing shall not apply with
respect to the obligations set forth in Section 5 and any breach by any Manager or his, her or its Permitted Transferees of any obligations under this Agreement. Each Manager acknowledges that it is not relying upon any person, firm or
corporation (including without limitation any other Manager or any Principal Investor), other than the Company and its officers, directors and other representatives (acting solely in their capacity as representatives of the Company), in deciding to
invest and in making its investment in the Company. Each Manager agrees that no other Manager or Principal Investor nor the respective controlling persons, officers, directors, partners, members, agents or employees of any other Manager or Principal
Investor shall be liable to such Manager for any losses incurred by such Manager in connection with its investment in the Company. 
 12.7. Merger with J. Crew . In the event of any merger, statutory share exchange or other business combination of the Company with Intermediate Holdings, J. Crew or any of J. Crew’s
subsidiaries, (i) each of the Stockholders and Intermediate Holdings or J. Crew (or, if different, the surviving entity of the merger) shall execute a shareholders’ agreement with terms that are equivalent to this Agreement;
provided that such shareholders’ agreement shall terminate upon the same terms and conditions as provided herein and (ii) the Company shall cause any registration rights held by the Company in respect of any securities of
Intermediate Holdings or J. Crew (or, if different, the surviving entity of the merger) distributed by the Company to be assigned to the Stockholders pro rata in accordance with the Purchase Price Value of the aggregate Company Shares
held by such Stockholder. 
 12.8. Waiver by Stockholders. The rights and obligations contained in this
Agreement are in addition to the relevant provisions of the Certificate of Incorporation and by-laws of the Company in force from time to time and shall be construed to comply with such provisions. To the extent that this Agreement is determined to
be in contravention of the Certificate of Incorporation or by-laws of the Company, this Agreement shall constitute a waiver by each Stockholder, to the fullest extent permissible under applicable laws, of any

 
right such Stockholder may have pursuant to the Certificate of Incorporation or by-laws of the Company that is inconsistent with this Agreement and the Stockholders and the Company shall take all
necessary action to effect an amendment of the Certificate of Incorporation and by-laws of the Company, to the extent permissible under applicable law, in order to resolve such contravention. 

12.9. J. Crew Liability. J. Crew and Intermediate Holdings agree that each shall be jointly and severally
liable with the Company with respect to all of the Company’s payment and other obligations hereunder, including any payments for any breach by the Company of the provisions hereof and any indemnification obligations hereunder. 

13. GOVERNING LAW. 
 13.1. Governing Law. This Agreement and any related dispute shall be governed by and construed in accordance with the laws of the State of Delaware. 

13.2. Jurisdiction. ANY ACTION OR PROCEEDING AGAINST THE PARTIES RELATING IN ANY WAY TO THIS AGREEMENT MAY BE
BROUGHT EXCLUSIVELY IN THE COURTS OF THE STATE OF DELAWARE OR (TO THE EXTENT SUBJECT MATTER JURISDICTION EXISTS THEREFORE) THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF DELAWARE, AND THE PARTIES IRREVOCABLY SUBMIT TO THE JURISDICTION OF BOTH
SUCH COURTS IN RESPECT OF ANY SUCH ACTION OR PROCEEDING. ANY ACTIONS OR PROCEEDINGS TO ENFORCE A JUDGMENT ISSUED BY ONE OF THE FOREGOING COURTS MAY BE ENFORCED IN ANY JURISDICTION. 

13.3. WAIVER OF JURY TRIAL. TO THE EXTENT NOT PROHIBITED BY APPLICABLE LAW THAT CANNOT BE WAIVED, EACH SHAREHOLDER
WAIVES, AND COVENANTS THAT SUCH PARTY WILL NOT ASSERT (WHETHER AS PLAINTIFF, DEFENDANT OR OTHERWISE), ANY RIGHT TO TRIAL BY JURY IN ANY FORUM IN RESPECT OF ANY ISSUE, CLAIM OR PROCEEDING ARISING OUT OF THIS AGREEMENT OR THE SUBJECT MATTER HEREOF OR
IN ANY WAY CONNECTED WITH THE DEALINGS OF ANY SHAREHOLDER OR THE COMPANY IN CONNECTION WITH ANY OF THE ABOVE, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING AND WHETHER IN CONTRACT, TORT OR OTHERWISE. THE COMPANY OR ANY STOCKHOLDER MAY FILE
AN ORIGINAL COUNTERPART OR A COPY OF THIS SECTION 13.3 WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE STOCKHOLDERS TO THE WAIVER OF THEIR RIGHTS TO TRIAL BY JURY. EACH PARTY HERETO ACKNOWLEDGES THAT IT HAS BEEN INFORMED BY THE OTHER
PARTIES HERETO THAT THIS SECTION 13.3 CONSTITUTES A MATERIAL INDUCEMENT UPON WHICH THEY ARE RELYING AND WILL RELY IN ENTERING INTO THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY. ANY PARTY HERETO MAY FILE AN ORIGINAL COUNTERPART OR A COPY
OF THIS SECTION 13.3 WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF EACH SUCH PARTY TO THE WAIVER OF ITS RIGHT TO TRIAL BY JURY. 

 13.4. Exercise of Rights and Remedies. No delay of or omission in the
exercise of any right, power or remedy accruing to any party as a result of any breach or default by any other party under this Agreement will impair any such right, power or remedy, nor will it be construed as a waiver of or acquiescence in any
such breach or default, or of any similar breach or default occurring later; nor will any such delay, omission nor waiver of any single breach or default be deemed a waiver of any other breach or default occurring before or after that waiver.

 [The remainder of this page is intentionally left blank] 

 EXECUTION VERSION 
 IN WITNESS WHEREOF, each of the undersigned has duly executed this Agreement (or caused this Agreement to be executed on its behalf by its officer or representative thereunto duly authorized) as of the
date and year first above written. 
  

					
	CHINOS HOLDINGS, INC.
		
	By:	 	 /s/ Ronald Cami

		 		 	Name: Ronald Cami
		 		 	Title: Vice President and Secretary
	
	CHINOS ACQUISITION CORPORATION
		
	By:	 	 /s/ Ronald Cami

		 		 	Name: Ronald Cami
		 		 	Title: Vice President and Secretary
	
	CHINOS INTERMEDIATE HOLDINGS A, INC.
		
	By:	 	 /s/ Ronald Cami

		 		 	Name: Ronald Cami
		 		 	Title: Vice President and Secretary
	
	CHINOS INTERMEDIATE HOLDINGS B, INC.
		
	By:	 	 /s/ Ronald Cami

		 		 	Name: Ronald Cami
		 		 	Title: Vice President and Secretary

[Stockholders Agreement] 

 
					
	TPG CHINOS, L.P.
		
	By:	 	TPG Advisors VI, Inc., its General Partner
		
	By:	 	 /s/ Ronald Cami

		 		 	Name: Ronald Cami
		 		 	Title: Vice President
	
	TPG CHINOS CO-INVEST, L.P.
		
	By:	 	TPG Advisors VI, Inc., its General Partner
		
	By:	 	 /s/ Ronald Cami

		 		 	Name: Ronald Cami
		 		 	Title: Vice President

 
			
	GREEN EQUITY INVESTORS V, L.P.
		
	By:	 	GEI CAPITAL V, LLC, its General Partner
		
	By:	 	 /s/ Jamie Halper

	Name: Jamie Halper
	Title:
	
	GREEN EQUITY INVESTORS SIDE V, L.P.
		
	By:	 	GEI CAPITAL V, LLC, its General Partner
		
	By:	 	 /s/ Jamie Halper

	Name: Jamie Halper
	Title:

 MANAGER: 

 

	
	 /s/ Jenna Lyons

	 Name: Jenna Lyons

 MANAGER: 

 

	
	 /s/ Laura Willensky

	 Name: Laura Willensky

 MANAGER: 

 

	
	 /s/ Ashley Sargent

	 Name: Ashley Sargent

 MANAGER: 

 

	
	 /s/ James Scully

	 Name: James Scully

 MANAGER: 

 

	
	 /s/ Libby Potter

	 Name: Libby Potter

 MANAGER: 

 

	
	 /s/ Lynda Markoe Anticev

	 Name: Lynda Markoe Anticev

 MANAGER: 

 

	
	 /s/ Charles Phillips

	 Name: Charles Phillips

 MANAGER: 

 

	
	 /s/ Valerie Van Ogtrop

	 Name: Valerie Van Ogtrop

 MANAGER: 

 

	
	 /s/ Jennifer O’Connor

	 Name: Jennifer O’Connor

 MANAGER: 

 

	
	 /s/ Patricia Donnelly Davidson

	 Name: Patricia Donnelly Davidson

 MANAGER: 

 

	
	 /s/ Marc Saffer

	 Name: Marc Saffer

 MANAGER: 

 

	
	 /s/ Anthony Brown

	 Name: Anthony Brown

 MANAGER: 

 

	
	 /s/ Scott Hyatt

	 Name: Scott Hyatt

 MANAGER: 

 

	
	 /s/ Michael R. Salmon

	 Name: Michael R. Salmon

 MANAGER: 

 

	
	 /s/ Jill Hennessey Brown

	 Name: Jill Hennessey Brown

 MANAGER: 

 

	
	 /s/ Stuart Haselden

	 Name: Stuart Haselden

 MANAGER: 

 

	
	 /s/ Daphne Smith

	 Name: Daphne Smith

 Schedule A-1 

MANAGEMENT STOCKHOLDER OMNIBUS SIGNATURE PAGE 
 IN WITNESS WHEREOF, I hereby agree to be a party to each of the following agreements as a “Manager”, “Investor” or “Optionee”, as applicable, as of the date of such
agreements, and to execute original signature pages to such agreements at the time such agreements are presented to me for execution: 
  

	 	1.	Manager Subscription Agreement for Cash Investment with Chinos Holdings, Inc. (Class A and Class L Subscription Agreement) (*); 

 

	 	2.	Manager Subscription Agreement for Cash Investment with Chinos Holdings, Inc. (Class L Subscription Agreement) (**) 

 

	 	3.	Manager Stock Rollover Subscription Agreement with Chinos Holdings, Inc. (***); 

 

	 	4.	Manager Non-Statutory Rollover Option Agreement with Chinos Holdings, Inc. (****); 

 

	 	5.	Management Stockholders Agreement with Chinos Holdings, Inc. and the other security holders party thereto. 

Signature: /s/ Holly Cohen 
 Print Name:
Holly Cohen 
  

	(*)	Only applicable if I am making a cash investment for shares of common stock of Chinos Holdings, Inc. (other than in connection with my option rollover).

	(**)	Only applicable if I am making a cash investment for shares of Class L common stock of Chinos Holdings, Inc. in connection with my option rollover.

	(***)	Only applicable if I am rolling shares of common stock of J. Crew Group, Inc. into shares of common stock of Chinos Holdings, Inc. 

	(****)	Only applicable if I am rolling options to purchase common stock of J. Crew Group, Inc. into options to purchase shares of common stock of Chinos Holdings, Inc.

 Schedule A-1 

MANAGEMENT STOCKHOLDER OMNIBUS SIGNATURE PAGE 
 IN WITNESS WHEREOF, I hereby agree to be a party to each of the following agreements as a “Manager”, “Investor” or “Optionee”, as applicable, as of the date of such
agreements, and to execute original signature pages to such agreements at the time such agreements are presented to me for execution: 
  

	 	1.	Manager Subscription Agreement for Cash Investment with Chinos Holdings, Inc. (Class A and Class L Subscription Agreement) (*); 

 

	 	2.	Manager Subscription Agreement for Cash Investment with Chinos Holdings, Inc. (Class L Subscription Agreement) (**) 

 

	 	3.	Manager Stock Rollover Subscription Agreement with Chinos Holdings, Inc. (***); 

 

	 	4.	Manager Non-Statutory Rollover Option Agreement with Chinos Holdings, Inc. (****); 

 

	 	5.	Management Stockholders Agreement with Chinos Holdings, Inc. and the other security holders party thereto. 

Signature: /s/ Margot Fooshee 
 Print
Name: Margot Fooshee 
  

	(*)	Only applicable if I am making a cash investment for shares of common stock of Chinos Holdings, Inc. (other than in connection with my option rollover).

	(**)	Only applicable if I am making a cash investment for shares of Class L common stock of Chinos Holdings, Inc. in connection with my option rollover.

	(***)	Only applicable if I am rolling shares of common stock of J. Crew Group, Inc. into shares of common stock of Chinos Holdings, Inc. 

	(****)	Only applicable if I am rolling options to purchase common stock of J. Crew Group, Inc. into options to purchase shares of common stock of Chinos Holdings, Inc.2011 Equity Incentive Plan

 EXHIBIT 10.2 
 NEXX SYSTEMS, INC. 
 2011 EQUITY INCENTIVE PLAN 

1. PURPOSE. The purpose of this Plan is to provide incentives to attract, retain and motivate eligible persons whose
present and potential contributions are important to the success of the Company, and any Parents and Subsidiaries that exist now or in the future, by offering them an opportunity to participate in the Company’s future performance through the
grant of Awards. Capitalized terms not defined elsewhere in the text are defined in Section 27. 
 2. SHARES SUBJECT
TO THE PLAN. 
 2.1 Number of Shares Available. Subject to Sections 2.6 and 21 and any other
applicable provisions hereof, the total number of Shares reserved and available for grant and issuance pursuant to this Plan as of the date of adoption of the Plan by the Board, is [15% of the proposed total capitalization of the Company following
the closing of the IPO (including all outstanding warrants, options and restricted stock units) less all outstanding options and restricted stock units granted, options exercised and restricted stock issued pursuant to the Prior Plan through such
date] Shares plus (i) shares that are subject to stock options and restricted stock units under the Company’s 2003 Employee, Director and Consultant Stock Option Plan (the “Prior Plan”) on the Effective Date that
cease to be subject to such stock options or restricted stock units, as the case may be, after the Effective Date, (iii) shares issued under the Prior Plan before or after the Effective Date pursuant to the exercise of stock options that are,
after the Effective Date, forfeited, and (iv) shares issued under the Prior Plan that are repurchased by the Company at the original issue price. 
 2.2 Lapsed, Returned Awards. Shares subject to Awards, and Shares issued under the Plan under any Award, will again be available for grant and issuance in connection with subsequent Awards under
this Plan to the extent such Shares: (a) are subject to issuance upon exercise of an Option or SAR granted under this Plan but which cease to be subject to the Option or SAR for any reason other than exercise of the Option or SAR; (b) are
subject to Awards granted under this Plan that are forfeited or are repurchased by the Company at the original issue price; (c) are subject to Awards granted under this Plan that otherwise terminate without such Shares being issued; or
(d) are surrendered pursuant to an Exchange Program. To the extent an Award under the Plan is paid out in cash rather than Shares, such cash payment will not result in reducing the number of Shares available for issuance under the Plan. Shares
used to pay the exercise price of an Award or to satisfy the tax withholding obligations related to an Award will become available for future grant or sale under the Plan. 

2.3 Minimum Share Reserve. At all times the Company shall reserve and keep available a sufficient number of Shares
as shall be required to satisfy the requirements of all outstanding Awards granted under this Plan. 
 2.4
Automatic Share Reserve Increase. The number of Shares available for grant and issuance under the Plan shall be increased on January 1 of each of 2012 through 2015 by the lesser of (i) three percent (3%) of the number of Shares
issued and outstanding on each December 31 immediately prior to the date of increase, or (ii) such number of Shares determined by the Board. 
 2.5 Limitations. Subject to adjustment under Section 2.6, the maximum number of shares of Common Stock with respect to which Awards may be granted to any Participant under the Plan shall be
600,000 per calendar year. For purposes of the foregoing limit, the combination of an Option in tandem with an SAR shall be treated as a single Award. The per Participant limit described in this Section 2.5 shall be construed and applied
consistently with Section 162(m) of the Code or any successor provision thereto, and the regulations thereunder (“Section 162(m)”). Subject to adjustment under Section 2.6, no more than 3,500,000 Shares shall be issued
pursuant to the exercise of ISOs. 
 2.6 Adjustment of Shares. If the number of outstanding Shares is
changed by a stock dividend, recapitalization, stock split, reverse stock split, subdivision, combination, reclassification or similar change in the capital structure of the Company, without consideration, then (a) the number of Shares reserved
for issuance and future grant under the Plan set forth in Section 2.1, (b) the Exercise Prices of and number of Shares subject to outstanding Options and SARs, (c) the number of Shares subject to other outstanding Awards, (d) the
maximum number of shares that may be issued as ISOs set forth in Section 2.5, (e) the maximum number of Shares that may be issued to an individual or to a new Employee in any one calendar year set forth in Section 3, and (f) the
number of Shares that are granted as Awards to Non-Employee Directors as set forth in Section 12, shall be proportionately adjusted, subject to any required action by the Board or the stockholders of the Company and in compliance with
applicable securities laws; provided that fractions of a Share will not be issued. 

 2.7 Share Counting. For purposes of counting the number of shares available
for the grant of Awards under the Plan: 
 (A) all shares of Common Stock covered by SARs shall be counted
against the number of shares available for the grant of Awards under the Plan; provided, however, that (i) SARs that may be settled only in cash shall not be so counted and (ii) if the Company grants an SAR in tandem with an Option
for the same number of shares of Common Stock and provides that only one such Award may be exercised (a “Tandem SAR”), only the shares covered by the Option, and not the shares covered by the Tandem SAR, shall be so counted,
and the expiration of one in connection with the other’s exercise will not restore shares to the Plan; 

(B) if any Award (i) expires or is terminated, surrendered or canceled without having been fully exercised or is
forfeited in whole or in part (including as the result of shares of Common Stock subject to such Award being repurchased by the Company at the original issuance price pursuant to a contractual repurchase right) or (ii) results in any Common
Stock not being issued (including as a result of an SAR that was settleable either in cash or in stock actually being settled in cash), the unused Common Stock covered by such Award shall again be available for the grant of Awards; provided,
however, that (1) in the case of ISOs, the foregoing shall be subject to any limitations under the Code, (2) in the case of the exercise of an SAR, the number of shares counted against the shares available under the Plan and against
the sublimits listed in the first clause of this Section 2.7 shall be the full number of shares subject to the SAR multiplied by the percentage of the SAR actually exercised, regardless of the number of shares actually used to settle such SAR
upon exercise and (3) the shares covered by a Tandem SAR shall not again become available for grant upon the expiration or termination of such Tandem SAR; and 

(C) shares of Common Stock delivered (either by actual delivery, attestation, or net exercise) to the Company by a
Participant to (i) purchase shares of Common Stock upon the exercise of an Award or (ii) satisfy tax withholding obligations (including shares retained from the Award creating the tax obligation) shall not be added back to the number of
shares available for the future grant of Awards. 
 3. ELIGIBILITY. ISOs may be granted only to Employees. All
other Awards may be granted to Employees, Consultants, Directors and Non-Employee Directors of the Company or any Parent or Subsidiary of the Company; provided such Consultants, Directors and Non-Employee Directors render bona fide services
not in connection with the offer and sale of securities in a capital-raising transaction. No Participant will be eligible to receive more than 1,000,000 Shares in any calendar year under this Plan pursuant to the grant of Awards except that new
Employees of the Company or of a Parent or Subsidiary of the Company (including new Employees who are also officers and directors of the Company or any Parent or Subsidiary of the Company) are eligible to receive up to a maximum of 2,000,000 Shares
in the calendar year in which they commence their employment. 
 4. ADMINISTRATION. 

4.1 Committee Composition; Authority. This Plan will be administered by the Committee or by the Board acting as the
Committee. Subject to the general purposes, terms and conditions of this Plan, and to the direction of the Board, the Committee will have full power to implement and carry out this Plan, except, however, the Board shall establish the terms for the
grant of an Award to Non-Employee Directors. The Committee will have the authority to: 
 (a) construe and
interpret this Plan, any Award Agreement and any other agreement or document executed pursuant to this Plan; 

(b) prescribe, amend and rescind rules and regulations relating to this Plan or any Award, or adopt sub-plans or
supplements to, or alternative versions of, the Plan or any Award Agreement, including as the Board deems necessary or desirable to comply with the laws of, or to accommodate the tax policies, accounting principles or customs of, foreign
jurisdictions whose citizens may be granted Awards; 
 (c) select persons to receive Awards; 

(d) determine the form and terms and conditions, not inconsistent with the terms of the Plan, of any Award granted
hereunder. Such terms and conditions include, but are not limited to, the exercise price, the time or times when Awards may be exercised (which may be based on performance criteria), any vesting acceleration or waiver of forfeiture restrictions, and
any restriction or limitation regarding any Award or the Shares relating thereto, based in each case on such factors as the Committee will determine; 
 (e) determine the number of Shares or other consideration subject to Awards; 
 (f) determine the Fair Market Value in good faith, if necessary; 

(g) determine whether Awards will be granted singly, in combination with, in tandem with, in replacement of, or as
alternatives to, other Awards under this Plan or any other incentive or compensation plan of the Company or any Parent or Subsidiary of the Company; 

  
 2 

 (h) grant waivers of Plan or Award conditions; 

(i) determine the vesting, exercisability and payment of Awards; 

(j) correct any defect, supply any omission or reconcile any inconsistency in this Plan, any Award or any Award Agreement;

 (k) determine whether an Award has been earned; 

(l) determine the terms and conditions of any, and to institute any Exchange Program; 

(m) reduce or waive any criteria with respect to Performance Factors; 

(n) adjust Performance Factors to take into account changes in law and accounting or tax rules as the Committee deems
necessary or appropriate to reflect the impact of extraordinary or unusual items, events or circumstances to avoid windfalls or hardships provided that such adjustments are consistent with the regulations promulgated under Section 162(m) of the
Code with respect to persons whose compensation is subject to Section 162(m) of the Code; and 
 (o) make
all other determinations necessary or advisable for the administration of this Plan. 
 4.2
Committee Interpretation and Discretion. Any determination made by the Committee with respect to any Award shall be made in its sole discretion at the time of grant of the Award or, unless in contravention of any express term of the Plan
or Award, at any later time, and such determination shall be final and binding on the Company and all persons having an interest in any Award under the Plan. Any dispute regarding the interpretation of the Plan or any Award Agreement shall be
submitted by the Participant or Company to the Committee for review. The resolution of such a dispute by the Committee shall be final and binding on the Company and the Participant. The Committee may delegate to one or more executive officers the
authority to review and resolve disputes with respect to Awards held by Participants who are not Insiders, and such resolution shall be final and binding on the Company and the Participant. 

4.3 Section 162(m) of the Code and Section 16 of the Exchange Act. When necessary or desirable for an
Award to qualify as “performance-based compensation” under Section 162(m) of the Code the Committee shall include at least two persons who are “outside directors” (as defined under Section 162(m) of the Code) and at
least two (or a majority if more than two then serve on the Committee) such “outside directors” shall approve the grant of such Award and timely determine (as applicable) the Performance Period and any Performance Factors upon which
vesting or settlement of any portion of such Award is to be subject. When required by Section 162(m) of the Code, prior to settlement of any such Award at least two (or a majority if more than two then serve on the Committee) such “outside
directors” then serving on the Committee shall determine and certify in writing the extent to which such Performance Factors have been timely achieved and the extent to which the Shares subject to such Award have thereby been earned. Awards
granted to Participants who are subject to Section 16 of the Exchange Act must be approved by two or more “non-employee directors” (as defined in the regulations promulgated under Section 16 of the Exchange Act). With respect to
Participants whose compensation is subject to Section 162(m) of the Code, and provided that such adjustments are consistent with the regulations promulgated under Section 162(m) of the Code, the Committee may adjust the performance goals
to account for changes in law and accounting and to make such adjustments as the Committee deems necessary or appropriate to reflect the impact of extraordinary or unusual items, events or circumstances to avoid windfalls or hardships, including
without limitation (i) restructurings, discontinued operations, extraordinary items, and other unusual or non-recurring charges, (ii) an event either not directly related to the operations of the Company or not within the reasonable
control of the Company’s management, or (iii) a change in accounting standards required by generally accepted accounting principles. 
 4.4 Documentation. The Award Agreement for a given Award, the Plan and any other documents may be delivered to, and accepted by, a Participant or any other person in any manner (including
electronic distribution or posting) that meets applicable legal requirements. 
 5. OPTIONS. The Committee may
grant Options to Participants and will determine whether such Options will be Incentive Stock Options within the meaning of the Code (“ISOs”) or Nonqualified Stock Options (“NQSOs”), the number of
Shares subject to the Option, the Exercise Price of the Option, the period during which the Option may be exercised, and all other terms and conditions of the Option, subject to the following: 

5.1 Option Grant. Each Option granted under this Plan will identify the Option as an ISO or an NQSO. An Option may
be, but need not be, awarded upon satisfaction of such Performance Factors during any Performance Period as are set out in advance in the Participant’s individual Award Agreement. If the Option is being earned upon the satisfaction of
Performance Factors, then the Committee will: (x) determine the nature, length and starting date of any Performance Period for each Option; and (y) select from among the Performance Factors to be used to measure the performance, if any.
Performance Periods may overlap and Participants may participate simultaneously with respect to Options that are subject to different performance goals and other criteria. 

  
 3 

 5.2 Date of Grant. The date of grant of an Option will be the date on
which the Committee makes the determination to grant such Option, or a specified future date. The Award Agreement and a copy of this Plan will be delivered to the Participant within a reasonable time after the granting of the Option. 

5.3 Exercise Period. Options may be exercisable within the times or upon the conditions as set forth in the Award
Agreement governing such Option; provided, however, that no Option will be exercisable after the expiration of ten (10) years from the date the Option is granted; and provided further that no ISO granted to a person who, at
the time the ISO is granted, directly or by attribution owns more than ten percent (10%) of the total combined voting power of all classes of stock of the Company or of any Parent or Subsidiary of the Company (“Ten Percent
Stockholder”) will be exercisable after the expiration of five (5) years from the date the ISO is granted. The Committee also may provide for Options to become exercisable at one time or from time to time, periodically or
otherwise, in such number of Shares or percentage of Shares as the Committee determines. 
 5.4 Exercise
Price. The Exercise Price of an Option will be determined by the Committee when the Option is granted; provided that: (i) the Exercise Price of an ISO will be not less than one hundred percent (100%) of the Fair Market Value of the
Shares on the date of grant and (ii) the Exercise Price of any ISO granted to a Ten Percent Stockholder will not be less than one hundred ten percent (110%) of the Fair Market Value of the Shares on the date of grant. Payment for the
Shares purchased must be made in accordance with Section 11 and the Award Agreement and in accordance with any procedures established by the Company. The Exercise Price of a NQSO may not be less than one hundred percent (100%) of the Fair
Market Value per Share on the date of grant. 
 5.5 Method of Exercise. Any Option granted hereunder will
be exercisable according to the terms of the Plan and at such times and under such conditions as determined by the Committee and set forth in the Award Agreement. An Option may not be exercised for a fraction of a Share. An Option will be deemed
exercised when the Company receives: (i) notice of exercise (in such form as the Committee may specify from time to time) from the person entitled to exercise the Option, and (ii) full payment for the Shares with respect to which the
Option is exercised (together with applicable withholding taxes). Full payment may consist of any consideration and method of payment authorized by the Committee and permitted by the Award Agreement and the Plan. Shares issued upon exercise of an
Option will be issued in the name of the Participant. Until the Shares are issued (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the Company), no right to vote or receive dividends or any
other rights as a stockholder will exist with respect to the Shares, notwithstanding the exercise of the Option. The Company will issue (or cause to be issued) such Shares promptly after the Option is exercised. No adjustment will be made for a
dividend or other right for which the record date is prior to the date the Shares are issued, except as provided in Section 2.6 of the Plan. Exercising an Option in any manner will decrease the number of Shares thereafter available, both for
purposes of the Plan and for sale under the Option, by the number of Shares as to which the Option is exercised. 

5.6 Termination. The exercise of an Option will be subject to the following (except as may be otherwise provided in
an Award Agreement): 
 (a) If the Participant is Terminated for any reason except for the Participant’s
death or Disability, then the Participant may exercise such Participant’s Options only to the extent that such Options would have been exercisable by the Participant on the Termination Date no later than three (3) months after the
Termination Date (or such shorter time period or longer time period not exceeding five (5) years as may be determined by the Committee, with any exercise beyond three (3) months after the Termination Date deemed to be the exercise of an
NQSO), but in any event no later than the expiration date of the Options. 
 (b) If the Participant is Terminated
because of the Participant’s death (or the Participant dies within three (3) months after a Termination other than because of the Participant’s Disability), then the Participant’s Options may be exercised only to the extent that
such Options would have been exercisable by the Participant on the Termination Date and must be exercised by the Participant’s legal representative, or authorized assignee, no later than twelve (12) months after the Termination Date (or
such shorter time period not less than six (6) months or longer time period not exceeding five (5) years as may be determined by the Committee), but in any event no later than the expiration date of the Options. 

(c) If the Participant is Terminated because of the Participant’s Disability, then the Participant’s Options may
be exercised only to the extent that such Options would have been exercisable by the Participant on the Termination Date and must be exercised by the Participant (or the Participant’s legal representative or authorized assignee) no later than
twelve (12) months after the Termination Date (with any exercise beyond (a) three (3) months after the Termination Date when the Termination is for a Disability that is not a “permanent and total disability” as
defined in Section 22(e)(3) of the Code, or (b) twelve (12) months after the Termination Date when the Termination is for a Disability that is a “permanent and total disability” as defined in Section 22(e)(3) of
the Code, deemed to be exercise of an NQSO), but in any event no later than the expiration date of the Options. 

  
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 5.7 Limitations on Exercise. The Committee may specify a minimum
number of Shares that may be purchased on any exercise of an Option, provided that such minimum number will not prevent any Participant from exercising the Option for the full number of Shares for which it is then exercisable. 

5.8 Limitations on ISOs. With respect to Awards granted as ISOs, to the extent that the aggregate Fair Market Value
of the Shares with respect to which such ISOs are exercisable for the first time by the Participant during any calendar year (under all plans of the Company and any Parent or Subsidiary) exceeds one hundred thousand dollars ($100,000), such Options
will be treated as NQSOs. For purposes of this Section 5.8, ISOs will be taken into account in the order in which they were granted. The Fair Market Value of the Shares will be determined as of the time the Option with respect to such Shares is
granted. In the event that the Code or the regulations promulgated thereunder are amended after the Effective Date to provide for a different limit on the Fair Market Value of Shares permitted to be subject to ISOs, such different limit will be
automatically incorporated herein and will apply to any Options granted after the effective date of such amendment. 
 5.9 Modification, Extension or Renewal. The Committee may modify, extend or renew outstanding Options and authorize the grant of new Options in substitution therefor, provided that any such action
may not, without the written consent of a Participant, impair any of such Participant’s rights under any Option previously granted. Any outstanding ISO that is modified, extended, renewed or otherwise altered will be treated in accordance with
Section 424(h) of the Code. Subject to Section 18 of this Plan, by written notice to affected Participants, the Committee may reduce the Exercise Price of outstanding Options without the consent of such Participants; provided,
however, that the Exercise Price may not be reduced below the Fair Market Value on the date the action is taken to reduce the Exercise Price. 
 5.10 No Disqualification. Notwithstanding any other provision in this Plan, no term of this Plan relating to ISOs will be interpreted, amended or altered, nor will any discretion or authority
granted under this Plan be exercised, so as to disqualify this Plan under Section 422 of the Code or, without the consent of the Participant affected, to disqualify any ISO under Section 422 of the Code. 

6. RESTRICTED STOCK AWARDS. 
 6.1 Awards of Restricted Stock. A Restricted Stock Award is an offer by the Company to sell to a Participant Shares that are subject to restrictions (“Restricted Stock”).
The Committee will determine to whom an offer will be made, the number of Shares the Participant may purchase, the Purchase Price, the restrictions under which the Shares will be subject and all other terms and conditions of the Restricted
Stock Award, subject to the Plan. 
 6.2 Restricted Stock Purchase Agreement. All purchases
under a Restricted Stock Award will be evidenced by an Award Agreement. Except as may otherwise be provided in an Award Agreement, a Participant accepts a Restricted Stock Award by signing and delivering to the Company an Award Agreement with full
payment of the Purchase Price, within thirty (30) days from the date the Award Agreement was delivered to the Participant. If the Participant does not accept such Award within thirty (30) days, then the offer of such Restricted Stock Award
will terminate, unless the Committee determines otherwise. 
 6.3 Purchase Price. The Purchase Price
for a Restricted Stock Award will be determined by the Committee and may be less than Fair Market Value on the date the Restricted Stock Award is granted. Payment of the Purchase Price must be made in accordance with Section 11 of the Plan, and
the Award Agreement and in accordance with any procedures established by the Company. 
 6.4 Terms of
Restricted Stock Awards. Restricted Stock Awards will be subject to such restrictions as the Committee may impose or are required by law. These restrictions may be based on completion of a specified number of years of service with the Company or
upon completion of Performance Factors, if any, during any Performance Period as set out in advance in the Participant’s Award Agreement. Prior to the grant of a Restricted Stock Award, the Committee shall: (a) determine the nature, length
and starting date of any Performance Period for the Restricted Stock Award; (b) select from among the Performance Factors to be used to measure performance goals, if any; and (c) determine the number of Shares that may be awarded to the
Participant. Performance Periods may overlap and a Participant may participate simultaneously with respect to Restricted Stock Awards that are subject to different Performance Periods and having different performance goals and other criteria.

 6.5 Termination of Participant. Except as may be set forth in the Participant’s Award Agreement,
vesting ceases on such Participant’s Termination Date (unless determined otherwise by the Committee). 

  
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 7. STOCK BONUS AWARDS. 

7.1 Awards of Stock Bonuses. A Stock Bonus Award is an award to an eligible person of Shares for services to be
rendered or for past services already rendered to the Company or any Parent or Subsidiary. All Stock Bonus Awards shall be made pursuant to an Award Agreement. No payment from the Participant will be required for Shares awarded pursuant to a Stock
Bonus Award. 
 7.2 Terms of Stock Bonus Awards. The Committee will determine the number of Shares to be
awarded to the Participant under a Stock Bonus Award and any restrictions thereon. These restrictions may be based upon completion of a specified number of years of service with the Company or upon satisfaction of performance goals based on
Performance Factors during any Performance Period as set out in advance in the Participant’s Stock Bonus Agreement. Prior to the grant of any Stock Bonus Award the Committee shall: (a) determine the nature, length and starting date of any
Performance Period for the Stock Bonus Award; (b) select from among the Performance Factors to be used to measure performance goals; and (c) determine the number of Shares that may be awarded to the Participant. Performance Periods may
overlap and a Participant may participate simultaneously with respect to Stock Bonus Awards that are subject to different Performance Periods and different performance goals and other criteria. 

7.3 Form of Payment to Participant. Payment may be made in the form of cash, whole Shares, or a combination
thereof, based on the Fair Market Value of the Shares earned under a Stock Bonus Award on the date of payment, as determined in the sole discretion of the Committee. 

7.4 Termination of Participation. Except as may be set forth in the Participant’s Award Agreement, vesting
ceases on such Participant’s Termination Date (unless determined otherwise by the Committee). 
 8. STOCK
APPRECIATION RIGHTS. 
 8.1 Awards of SARs. A Stock Appreciation Right
(“SAR”) is an award to a Participant that may be settled in cash, or Shares (which may consist of Restricted Stock), having a value equal to (a) the difference between the Fair Market Value on the date of exercise over
the Exercise Price multiplied by (b) the number of Shares with respect to which the SAR is being settled (subject to any maximum number of Shares that may be issuable as specified in an Award Agreement). All SARs shall be made pursuant to an
Award Agreement. 
 8.2 Terms of SARs. The Committee will determine the terms of each SAR including,
without limitation: (a) the number of Shares subject to the SAR; (b) the Exercise Price and the time or times during which the SAR may be settled; (c) the consideration to be distributed on settlement of the SAR; and (d) the
effect of the Participant’s Termination on each SAR. The Exercise Price of the SAR will be determined by the Committee when the SAR is granted, and may not be less than Fair Market Value. A SAR may be awarded upon satisfaction of Performance
Factors, if any, during any Performance Period as are set out in advance in the Participant’s individual Award Agreement. If the SAR is being earned upon the satisfaction of Performance Factors, then the Committee will: (x) determine the
nature, length and starting date of any Performance Period for each SAR; and (y) select from among the Performance Factors to be used to measure the performance, if any. Performance Periods may overlap and Participants may participate
simultaneously with respect to SARs that are subject to different Performance Factors and other criteria. 
 8.3
Exercise Period and Expiration Date. A SAR will be exercisable within the times or upon the occurrence of events determined by the Committee and set forth in the Award Agreement governing such SAR. The SAR Agreement shall set forth the
expiration date; provided that no SAR will be exercisable after the expiration of ten (10) years from the date the SAR is granted. The Committee may also provide for SARs to become exercisable at one time or from time to time, periodically or
otherwise (including, without limitation, upon the attainment during a Performance Period of performance goals based on Performance Factors), in such number of Shares or percentage of the Shares subject to the SAR as the Committee determines. Except
as may be set forth in the Participant’s Award Agreement, vesting ceases on such Participant’s Termination Date (unless determined otherwise by the Committee). Notwithstanding the foregoing, the rules of Section 5.6 also will apply to
SARs. 
 8.4 Form of Settlement. Upon exercise of a SAR, a Participant will be entitled to receive payment
from the Company in an amount determined by multiplying (i) the difference between the Fair Market Value of a Share on the date of exercise over the Exercise Price; times (ii) the number of Shares with respect to which the SAR is
exercised. At the discretion of the Committee, the payment from the Company for the SAR exercise may be in cash, in Shares of equivalent value, or in some combination thereof. The portion of a SAR being settled may be paid currently or on a deferred
basis with such interest or dividend equivalent, if any, as the Committee determines, provided that the terms of the SAR and any deferral satisfy the requirements of Section 409A of the Code. 

8.5 Termination of Participation. Except as may be set forth in the Participant’s Award Agreement, vesting
ceases on such Participant’s Termination Date (unless determined otherwise by the Committee). 

  
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 9. RESTRICTED STOCK UNITS. 

9.1 Awards of Restricted Stock Units. A Restricted Stock Unit (“RSU”) is an award to a
Participant covering a number of Shares that may be settled in cash, or by issuance of those Shares (which may consist of Restricted Stock). All RSUs shall be made pursuant to an Award Agreement. 

9.2 Terms of RSUs. The Committee will determine the terms of an RSU including, without limitation: (a) the
number of Shares subject to the RSU; (b) the time or times during which the RSU may be settled; and (c) the consideration to be distributed on settlement, and the effect of the Participant’s Termination on each RSU. An RSU may be
awarded upon satisfaction of such performance goals based on Performance Factors during any Performance Period as are set out in advance in the Participant’s Award Agreement. If the RSU is being earned upon satisfaction of Performance Factors,
then the Committee will: (x) determine the nature, length and starting date of any Performance Period for the RSU; (y) select from among the Performance Factors to be used to measure the performance, if any; and (z) determine the
number of Shares deemed subject to the RSU. Performance Periods may overlap and participants may participate simultaneously with respect to RSUs that are subject to different Performance Periods and different performance goals and other criteria.

 9.3 Form and Timing of Settlement. Payment of earned RSUs shall be made as soon as practicable after
the date(s) determined by the Committee and set forth in the Award Agreement. The Committee, in its sole discretion, may settle earned RSUs in cash, Shares, or a combination of both. The Committee may also permit a Participant to defer payment under
a RSU to a date or dates after the RSU is earned provided that the terms of the RSU and any deferral satisfy the requirements of Section 409A of the Code. 
 9.4 Termination of Participant. Except as may be set forth in the Participant’s Award Agreement, vesting ceases on such Participant’s Termination Date (unless determined otherwise by the
Committee). 
 10. PERFORMANCE SHARES. 

10.1 Awards of Performance Shares. A Performance Share Award is an award to a Participant denominated in Shares
that may be settled in cash, or by issuance of those Shares (which may consist of Restricted Stock). Grants of Performance Shares shall be made pursuant to an Award Agreement. 

10.2 Terms of Performance Shares. The Committee will determine, and each Award Agreement shall set forth, the terms
of each award of Performance Shares including, without limitation: (a) the number of Shares deemed subject to such Award; (b) the Performance Factors and Performance Period that shall determine the time and extent to which each award of
Performance Shares shall be settled; (c) the consideration to be distributed on settlement; and (d) the effect of the Participant’s Termination on each award of Performance Shares. In establishing Performance Factors and the
Performance Period the Committee will: (x) determine the nature, length and starting date of any Performance Period; (y) select from among the Performance Factors to be used; and (z) determine the number of Shares deemed subject to
the award of Performance Shares. Prior to settlement the Committee shall determine the extent to which Performance Shares have been earned. Performance Periods may overlap and Participants may participate simultaneously with respect to Performance
Shares that are subject to different Performance Periods and different performance goals and other criteria. 

10.3 Value, Earning and Timing of Performance Shares. Each Performance Share will have an initial value equal to
the Fair Market Value of a Share on the date of grant. After the applicable Performance Period has ended, the holder of Performance Shares will be entitled to receive a payout of the number of Performance Shares earned by the Participant over the
Performance Period, to be determined as a function of the extent to which the corresponding Performance Factors or other vesting provisions have been achieved. The Committee, in its sole discretion, may pay earned Performance Shares in the form of
cash, in Shares (which have an aggregate Fair Market Value equal to the value of the earned Performance Shares at the close of the applicable Performance Period) or in a combination thereof. 

10.4 Termination of Participant. Except as may be set forth in the Participant’s Award Agreement, vesting
ceases on such Participant’s Termination Date (unless determined otherwise by the Committee). 
 11. PAYMENT FOR
SHARE PURCHASES. 
 Payment from a Participant for Shares purchased pursuant to this Plan may be made in
cash or by check or, where expressly approved for the Participant by the Committee and where permitted by law (and to the extent not otherwise set forth in the applicable Award Agreement): 

(a) by cancellation of indebtedness of the Company to the Participant; 

(b) by surrender of shares of the Company held by the Participant that have a Fair Market Value on the date of surrender
equal to the aggregate exercise price of the Shares as to which said Award will be exercised or settled; 

  
 7 

 (c) by waiver of compensation due or accrued to the Participant for services
rendered or to be rendered to the Company or a Parent or Subsidiary of the Company; 
 (d) by consideration
received by the Company pursuant to a broker-assisted or other form of cashless exercise program implemented by the Company in connection with the Plan; 
 (e) by any combination of the foregoing; or 
 (f) by any other
method of payment as is permitted by applicable law. 
 Notwithstanding the foregoing, the Company reserves the
right to restrict the methods of payment of the exercise price if necessary to comply with applicable local law, as determined by the Company in its sole discretion. 
 12. GRANTS TO NON-EMPLOYEE DIRECTORS.  
 12.1
Types of Awards. Non-Employee Directors are eligible to receive any type of Award offered under this Plan except ISOs. Awards pursuant to this Section 12 may be automatically made pursuant to policy adopted by the Board, or made from
time to time as determined in the discretion of the Board. 
 12.2 Eligibility. Awards pursuant to this
Section 12 shall be granted only to Non-Employee Directors. A Non-Employee Director who is elected or re-elected as a member of the Board will be eligible to receive an Award under this Section 12. 

12.3 Vesting, Exercisability and Settlement. Except as set forth in Section 21, Awards shall vest, become
exercisable and be settled as determined by the Board. With respect to Options and SARs, the exercise price granted to Non-Employee Directors shall not be less than the Fair Market Value of the Shares at the time that such Option or SAR is granted.

 13. WITHHOLDING TAXES. 
 13.1 Withholding Generally. Whenever Shares are to be issued in satisfaction of Awards granted under this Plan, the Company may at its discretion require the Participant to remit to the Company an
amount sufficient to satisfy applicable federal, state, local and international withholding tax (including social insurance) requirements or may, consistent with applicable legal requirements, make appropriate payroll withholdings prior to the
delivery of Shares pursuant to exercise or settlement of any Award. The Company shall have no obligation to deliver Shares until all tax withholding obligations have been satisfied by the Participant. Whenever payments in satisfaction of Awards
granted under this Plan are to be made in cash, such payment will be net of an amount sufficient to satisfy applicable federal, state, local and international withholding tax requirements. 

13.2 Stock Withholding. The Committee, in its sole discretion and pursuant to such procedures as it may specify
from time to time, may require or permit a Participant to satisfy such tax withholding obligation, in whole or in part by, without limitation: (i) paying cash, (ii) electing to have the Company withhold otherwise deliverable cash or Shares
having a Fair Market Value equal to the minimum statutory amount required to be withheld, or (iii) delivering to the Company already-owned Shares having a Fair Market Value equal to the minimum amount required to be withheld. The Fair Market
Value of the Shares to be withheld or delivered will be determined as of the date that the taxes are required to be withheld. 

14. TRANSFERABILITY. Unless determined otherwise by the Committee, an Award may not be sold, pledged, assigned,
hypothecated, transferred, or disposed of in any manner other than by will or by the laws of descent or distribution. If the Committee makes an Award transferable, such Award will contain such additional terms and conditions as the Committee deems
appropriate. All Awards shall be exercisable: (i) during the Participant’s lifetime only by (A) the Participant, or (B) the Participant’s guardian or legal representative; and (ii) after the Participant’s death, by
the legal representative of the Participant’s heirs or legatees. 
 15. PRIVILEGES OF STOCK OWNERSHIP; RESTRICTIONS
ON SHARES. 
 15.1 Voting and Dividends. No Participant will have any of the rights of a
stockholder with respect to any Shares until the Shares are issued to the Participant. After Shares are issued to the Participant, the Participant will be a stockholder and have all the rights of a stockholder with respect to such Shares, including
the right to vote and receive all dividends or other distributions made or paid with respect to such Shares; provided, that if such Shares are Restricted Stock, then any new, additional or different securities the Participant may become
entitled to receive with respect to such Shares by virtue of a stock dividend, stock split or any other change in the corporate or 

  
 8 

 
capital structure of the Company will be subject to the same restrictions as the Restricted Stock; provided, further, that the Participant will have no right to retain such stock
dividends or stock distributions with respect to Shares that are repurchased at the Participant’s Purchase Price or Exercise Price, as the case may be, pursuant to Section 15.2. 

15.2 Restrictions on Shares. At the discretion of the Committee, the Company may reserve to itself and/or its
assignee(s) a right to repurchase (a “Right of Repurchase”) a portion of any or all Unvested Shares held by a Participant following such Participant’s Termination at any time within ninety (90) days after the later
of the Participant’s Termination Date and the date the Participant purchases Shares under this Plan, for cash and/or cancellation of purchase money indebtedness, at the Participant’s Purchase Price or Exercise Price, as the case may be.

 16. CERTIFICATES. All certificates for Shares or other securities delivered under this Plan will be subject to
such stock transfer orders, legends and other restrictions as the Committee may deem necessary or advisable, including restrictions under any applicable federal, state or foreign securities law, or any rules, regulations and other requirements of
the SEC or any stock exchange or automated quotation system upon which the Shares may be listed or quoted. 
 17. ESCROW;
PLEDGE OF SHARES. To enforce any restrictions on a Participant’s Shares, the Committee may require the Participant to deposit all certificates representing Shares, together with stock powers or other instruments of transfer approved by
the Committee, appropriately endorsed in blank, with the Company or an agent designated by the Company to hold in escrow until such restrictions have lapsed or terminated, and the Committee may cause a legend or legends referencing such restrictions
to be placed on the certificates. Any Participant who is permitted to execute a promissory note as partial or full consideration for the purchase of Shares under this Plan will be required to pledge and deposit with the Company all or part of the
Shares so purchased as collateral to secure the payment of the Participant’s obligation to the Company under the promissory note; provided, however, that the Committee may require or accept other or additional forms of collateral
to secure the payment of such obligation and, in any event, the Company will have full recourse against the Participant under the promissory note notwithstanding any pledge of the Participant’s Shares or other collateral. In connection with any
pledge of the Shares, the Participant will be required to execute and deliver a written pledge agreement in such form as the Committee will from time to time approve. The Shares purchased with the promissory note may be released from the pledge on a
pro rata basis as the promissory note is paid. 
 18. REPRICING; EXCHANGE AND BUYOUT OF AWARDS. Without prior
stockholder approval the Committee may (i) reprice Options or SARS (and where such repricing is a reduction in the Exercise Price of outstanding Options or SARS, the consent of the affected Participants is not required provided written notice
is provided to them), and (ii) with the consent of the respective Participants (unless not required pursuant to Section 5.9 of the Plan), pay cash or issue new Awards in exchange for the surrender and cancellation of any, or all,
outstanding Awards. 
 19. SECURITIES LAW AND OTHER REGULATORY COMPLIANCE. An Award will not be effective unless
such Award is in compliance with all applicable federal, state and foreign securities laws, rules and regulations of any governmental body, and the requirements of any stock exchange or automated quotation system upon which the Shares may then be
listed or quoted, as they are in effect on the date of grant of the Award and also on the date of exercise or other issuance. Notwithstanding any other provision in this Plan, the Company will have no obligation to issue or deliver certificates for
Shares under this Plan prior to: (a) obtaining any approvals from governmental agencies that the Company determines are necessary or advisable; and/or (b) completion of any registration or other qualification of such Shares under any
state, federal or foreign law or ruling of any governmental body that the Company determines to be necessary or advisable. The Company will be under no obligation to register the Shares with the SEC or to effect compliance with the registration,
qualification or listing requirements of any state securities laws, stock exchange or automated quotation system, and the Company will have no liability for any inability or failure to do so. As a condition to the grant of any Award, the Company may
require the Participant to satisfy any qualifications that may be necessary or appropriate to evidence compliance with any applicable law or regulation and to make any representation or warranty with respect thereto as may be requested by the
Company. 
 20. NO OBLIGATION TO EMPLOY. Nothing in this Plan or any Award granted under this Plan will confer or
be deemed to confer on any Participant any right to continue in the employ of, or to continue any other relationship with, the Company or any Parent or Subsidiary of the Company, provide any employment-related rights, or limit in any way the right
of the Company or any Parent or Subsidiary of the Company to terminate Participant’s employment or other relationship at any time, subject to applicable legal requirements. 

  
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 21. CORPORATE TRANSACTIONS. 

21.1 Assumption or Replacement of Awards by Successor. In the event of a Corporate
Transaction any or all outstanding Awards may be assumed or replaced by the successor corporation, which assumption or replacement shall be binding on all Participants. In the alternative, the successor corporation may substitute equivalent Awards
or provide substantially similar consideration to Participants as was provided to stockholders (after taking into account the existing provisions of the Awards). The successor corporation may also issue, in place of outstanding Shares of the Company
held by the Participant, substantially similar shares or other property subject to repurchase restrictions no less favorable to the Participant. In the event such successor or acquiring corporation (if any) refuses to assume, convert, replace or
substitute Awards, as provided above, pursuant to a Corporate Transaction, then notwithstanding any other provision in this Plan to the contrary, the Board (or, the Committee, if so designated by the Board) may, in its sole discretion, accelerate
the vesting of such Awards in connection with a Corporate Transaction. In addition, in the event such successor or acquiring corporation (if any) refuses to assume, convert, replace or substitute Awards, as provided above, pursuant to a Corporate
Transaction, the Committee will notify the Participant in writing or electronically that such Award will be exercisable for a period of time determined by the Committee in its sole discretion, and such Award will terminate upon the expiration of
such period. Awards need not be treated similarly in a Corporate Transaction. 
 21.2 Assumption of Awards by
the Company. The Company, from time to time, also may substitute or assume outstanding awards granted by another company, whether in connection with an acquisition of such other company or otherwise, by either; (a) granting an Award under
this Plan in substitution of such other company’s award; or (b) assuming such award as if it had been granted under this Plan if the terms of such assumed award could be applied to an Award granted under this Plan. Such substitution or
assumption will be permissible if the holder of the substituted or assumed award would have been eligible to be granted an Award under this Plan if the other company had applied the rules of this Plan to such grant. In the event the Company assumes
an award granted by another company, the terms and conditions of such award will remain unchanged (except that the Purchase Price or the Exercise Price, as the case may be, and the number and nature of Shares issuable upon exercise or
settlement of any such Award will be adjusted appropriately pursuant to Section 424(a) of the Code). In the event the Company elects to grant a new Option in substitution rather than assuming an existing option, such new Option may be granted
with a similarly adjusted Exercise Price. 
 21.3 Non-Employee Directors’ Awards. Notwithstanding any provision to
the contrary herein, in the event of a Corporate Transaction, the vesting of all Awards granted to Non-Employee Directors shall accelerate and such Awards shall become exercisable (as applicable) in full prior to the consummation of such event at
such times and on such conditions as the Committee determines. 
 22. ADOPTION AND STOCKHOLDER APPROVAL. This Plan
shall be submitted for the approval of the Company’s stockholders, consistent with applicable laws, within twelve (12) months before or after the date this Plan is adopted by the Board. 

23. TERM OF PLAN/GOVERNING LAW. Unless earlier terminated as provided herein, this Plan will become effective on the
Effective Date and will terminate ten (10) years from the date this Plan is adopted by the Board. This Plan and all Awards granted hereunder shall be governed by and construed in accordance with the laws of the State of Delaware. 

24. AMENDMENT OR TERMINATION OF PLAN. The Board may at any time terminate or amend this Plan in any respect, including,
without limitation, amendment of any form of Award Agreement or instrument to be executed pursuant to this Plan; provided, however, that the Board will not, without the approval of the stockholders of the Company, amend this Plan in any manner that
requires such stockholder approval; provided further, that a Participant’s Award shall be governed by the version of this Plan then in effect at the time such Award was granted. No termination or amendment of the Plan may adversely affect any
then outstanding Award without the consent of the Participant, unless such termination or amendment is required to enable an Option designated as an ISO to qualify as an ISO or is necessary to comply with any applicable law, regulation or rule. The
Board may amend, suspend or terminate the Plan or any portion thereof at any time provided that (i) to the extent required by Section 162(m), no Award granted to a Participant that is intended to comply with Section 162(m) after the
date of such amendment shall become exercisable, realizable or vested, as applicable to such Award, unless and until the Company’s stockholders approve such amendment in the manner required by Section 162(m); and (ii) no amendment
that would require stockholder approval under the rules of the NASDAQ Stock Market may be made effective unless and until the Company’s stockholders approve such amendment. 

  
 10 

 25. NON-EXCLUSIVITY OF THE PLAN. Neither the adoption of this Plan by the
Board, the submission of this Plan to the stockholders of the Company for approval, nor any provision of this Plan will be construed as creating any limitations on the power of the Board to adopt such additional compensation arrangements as it may
deem desirable, including, without limitation, the granting of stock awards and bonuses otherwise than under this Plan, and such arrangements may be either generally applicable or applicable only in specific cases. 

26. INSIDER TRADING POLICY. Each Participant who receives an Award shall comply with any policy adopted by the Company from
time to time covering transactions in the Company’s securities by Employees, officers and/or directors of the Company. 

27. DEFINITIONS. As used in this Plan, and except as elsewhere defined herein, the following terms will have the following
meanings: 
 “Award” means any award under the Plan, including any Option, Restricted Stock, Stock
Bonus, Stock Appreciation Right, Restricted Stock Unit or award of Performance Shares. 
 “Award
Agreement” means, with respect to each Award, the written or electronic agreement between the Company and the Participant setting forth the terms and conditions of the Award, which shall be in substantially a form (which need not be the
same for each Participant) that the Committee has from time to time approved, and will comply with and be subject to the terms and conditions of this Plan. 
 “Board” means the Board of Directors of the Company. 

“Code” means the United States Internal Revenue Code of 1986, as amended, and the regulations promulgated
thereunder. 
 “Common Stock” means the common stock of the Company. 

“Committee” means the Compensation Committee of the Board or those persons to whom administration of the Plan, or
part of the Plan, has been delegated as permitted by law. 
 “Company” means NEXX Systems, Inc., or any
successor corporation. 
 “Consultant” means any person, including an advisor or independent contractor,
engaged by the Company or a Parent or Subsidiary to render services to such entity. 
 “Corporate
Transaction” means the occurrence of any of the following events: (i) any “person” (as such term is used in Sections 13(d) and 14(d) of the Exchange Act) becomes the “beneficial owner” (as defined in Rule 13d-3
of the Exchange Act), directly or indirectly, of securities of the Company representing fifty percent (50%) or more of the total voting power represented by the Company’s then-outstanding voting securities; (ii) the consummation of
the sale or disposition by the Company of all or substantially all of the Company’s assets; (iii) the consummation of a merger or consolidation of the Company with any other corporation, other than a merger or consolidation which would
result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity or its parent) at least fifty percent
(50%) of the total voting power represented by the voting securities of the Company or such surviving entity or its parent outstanding immediately after such merger or consolidation or (iv) any other transaction which qualifies as a
“corporate transaction” under Section 424(a) of the Code wherein the stockholders of the Company give up all of their equity interest in the Company (except for the acquisition, sale or transfer of all or substantially all of the
outstanding shares of the Company). 
 “Director” means a member of the Board. 

“Disability” means total and permanent disability as defined in Section 22(e)(3) of the Code, provided,
however, that except with respect to Awards granted as ISOs, the Committee in its discretion may determine whether a total and permanent disability exists in accordance with non-discriminatory and uniform standards adopted by the Committee from time
to time, whether temporary or permanent, partial or total, as determined by the Committee. 
 “Effective
Date” means the date of the underwritten initial public offering of the Company’s Common Stock pursuant to a registration statement that is declared effective by the SEC. 

  
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 “Employee” means any person, including Officers and Directors,
employed by the Company or any Parent or Subsidiary of the Company. Neither service as a Director nor payment of a director’s fee by the Company will be sufficient to constitute “employment” by the Company. 

“Exchange Act” means the United States Securities Exchange Act of 1934, as amended. 

“Exchange Program” means a program pursuant to which outstanding Awards are surrendered, cancelled or exchanged
for cash, the same type of Award or a different Award (or combination thereof). 
 “Exercise Price”
means, with respect to an Option, the price at which a holder may purchase the Shares issuable upon exercise of an Option and with respect to a SAR, the price at which the SAR is granted to the holder thereof. 

“Fair Market Value” means, as of any date, the value of a share of the Company’s Common Stock determined as
follows: 
 (a) if such Common Stock is publicly traded and is then listed on a national securities exchange, its
closing price on the date of determination on the principal national securities exchange on which the Common Stock is listed or admitted to trading as reported in The Wall Street Journal; 

(b) if such Common Stock is publicly traded but is neither listed nor admitted to trading on a national securities
exchange, the average of the closing bid and asked prices on the date of determination as reported in The Wall Street Journal; 
 (c) in the case of an Option or SAR grant made on the Effective Date, the price per share at which shares of the Company’s Common Stock are initially offered for sale to the public by the
Company’s underwriters in the initial public offering of the Company’s Common Stock pursuant to a registration statement filed with the SEC under the Securities Act; or 

(d) if none of the foregoing is applicable, by the Board or the Committee in good faith. 

“Insider” means an officer or director of the Company or any other person whose transactions in the
Company’s Common Stock are subject to Section 16 of the Exchange Act. 
 “Non-Employee
Director” means a Director who is not an Employee of the Company or any Parent or Subsidiary. 

“Option” means an award of an option to purchase Shares pursuant to Section 5. 

“Parent” means any corporation (other than the Company) in an unbroken chain of corporations ending with the
Company if each of such corporations other than the Company owns stock possessing fifty percent (50%) or more of the total combined voting power of all classes of stock in one of the other corporations in such chain. 

“Participant” means a person who holds an Award under this Plan. 

“Performance Factors” means the factors selected by the Committee, which may include, but are not limited to, the
following measures (whether or not in comparison to other peer companies) to determine whether the performance goals established by the Committee and applicable to Awards have been satisfied: 

 

	 	•	 	 Net revenue and/or net revenue growth; 

  

	 	•	 	 Earnings per share and/or earnings per share growth; 

  

	 	•	 	 Earnings before income taxes and amortization and/or earnings before income taxes and amortization growth; 

 

	 	•	 	 Operating income and/or operating income growth; 

  

	 	•	 	 Net income and/or net income growth; 

  

	 	•	 	 Total stockholder return and/or total stockholder return growth; 

 

	 	•	 	 Return on equity; 

  

	 	•	 	 Operating cash flow return on income; 

  

	 	•	 	 Adjusted operating cash flow return on income; 

  

	 	•	 	 Economic value added; 

  

	 	•	 	 Control of expenses; 

  
 12 

	 	•	 	 Cost of goods sold; 

  

	 	•	 	 Profit margin; 

  

	 	•	 	 Stock price; 

  

	 	•	 	 Debt or debt-to-equity; 

  

	 	•	 	 Liquidity; 

  

	 	•	 	 Intellectual property (e.g., patents) or product development; 

 

	 	•	 	 Mergers and acquisitions or divestitures; 

  

	 	•	 	 Individual business objectives; 

  

	 	•	 	 Company specific operational metrics; and 

  

	 	•	 	 Any other factor (such as individual business objectives or unit-specific operational metrics) the Committee so designates.

 “Performance Period” means the period of service determined by the Committee, not
to exceed five (5) years, during which years of service or performance is to be measured for the Award. 

“Performance Share” means an Award granted pursuant to Section 10 or Section 12 of the Plan.

 “Plan” means this NEXX Systems, Inc. 2011 Equity Incentive Plan. 

“Purchase Price” means the price to be paid for Shares acquired under the Plan, other than Shares acquired upon
exercise of an Option or SAR. 
 “Restricted Stock Award” means an award of Shares pursuant to
Section 6 or Section 12 of the Plan, or issued pursuant to the early exercise of an Option. 
 “Restricted
Stock Unit” means an Award granted pursuant to Section 9 or Section 12 of the Plan. 

“SEC” means the United States Securities and Exchange Commission. 

“Securities Act” means the United States Securities Act of 1933, as amended. 

“Shares” means shares of the Company’s Common Stock and any successor security. 

“Stock Appreciation Right” means an Award granted pursuant to Section 8 or Section 12 of the Plan.

 “Stock Bonus” means an Award granted pursuant to Section 7 or Section 12 of the Plan.

 “Subsidiary” means any corporation (other than the Company) in an unbroken chain of corporations
beginning with the Company if each of the corporations other than the last corporation in the unbroken chain owns stock possessing fifty percent (50%) or more of the total combined voting power of all classes of stock in one of the other
corporations in such chain. 
 “Termination” or “Terminated” means, for purposes
of this Plan with respect to a Participant, that the Participant has for any reason ceased to provide services as an employee, officer, director, consultant, independent contractor or advisor to the Company or a Parent or Subsidiary of the Company.
An employee will not be deemed to have ceased to provide services in the case of (i) sick leave, (ii) military leave, or (iii) any other leave of absence approved by the Committee; provided, that such leave is for a period of
not more than 90 days, unless reemployment upon the expiration of such leave is guaranteed by contract or statute or unless provided otherwise pursuant to formal policy adopted from time to time by the Company and issued and promulgated to employees
in writing. In the case of any employee on an approved leave of absence, the Committee may make such provisions respecting suspension of vesting of the Award while on leave from the employ of the Company or a Parent or Subsidiary of the Company as
it may deem appropriate, except that in no event may an Award be exercised after the expiration of the term set forth in the applicable Award Agreement. The Committee will have sole discretion to determine whether a Participant has ceased to provide
services and the effective date on which the Participant ceased to provide services (the “Termination Date”). 
 “Unvested Shares” means Shares that have not yet vested or are subject to a right of repurchase in favor of the Company (or any successor thereto). 

  
 13

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