Document:

EX-10.1

 Exhibit 10.1 

WAYFAIR INC. 
 WAYFAIR
LLC 
 2.50% ACCRETING CONVERTIBLE SENIOR NOTES DUE 2025 

AMENDED AND RESTATED PURCHASE AGREEMENT 

dated as of 

April 7, 2020 
  

 TABLE OF CONTENTS 

 

									
	 	 	 	  	 	  	Page	 
		
	ARTICLE 1 DEFINITIONS AND INTERPRETATION	  	 	1	 
			
	 1.1
	 	Defined Terms	  	 	1	 
			
	 1.2
	 	Interpretation	  	 	3	 
		
	 ARTICLE 2 SUMMARY OF TRANSACTIONS
	  	 	4	 
			
	 2.1
	 	Sale and Purchase of Securities	  	 	4	 
			
	 2.2
	 	Purchase Price	  	 	4	 
			
	 2.3
	 	Underlying Securities	  	 	4	 
		
	ARTICLE 3 CLOSING AND CLOSING CONDITIONS	  	 	4	 
			
	 3.1
	 	Time and Place of the Closing	  	 	4	 
			
	 3.2
	 	Actions at the Closing	  	 	4	 
				
		 	3.2.1	  	Delivery of Securities	  	 	5	 
				
		 	3.2.2	  	Payment of Purchase Price	  	 	5	 
				
		 	3.2.3	  	Additional Actions	  	 	5	 
			
	 3.3
	 	Conditions Precedent to Obligations of each Purchaser	  	 	5	 
				
		 	3.3.1	  	Opinions	  	 	5	 
				
		 	3.3.2	  	NYSE Supplemental Listing of Underlying Securities	  	 	5	 
				
		 	3.3.3	  	Indenture	  	 	5	 
				
		 	3.3.4	  	Registration Rights Agreement	  	 	5	 
				
		 	3.3.5	  	Good Standing Certificate	  	 	5	 
				
		 	3.3.6	  	Secretary’s Certificate	  	 	5	 
				
		 	3.3.7	  	Performance of Closing Actions	  	 	5	 
				
		 	3.3.8	  	No Adverse Order	  	 	6	 
			
	 3.4
	 	Conditions Precedent to Obligations of the Company	  	 	6	 
				
		 	3.4.1	  	Registration Rights Agreement	  	 	6	 
				
		 	3.4.2	  	Performance of Closing Actions	  	 	6	 
				
		 	3.4.3	  	Withholding Certificates	  	 	6	 
				
		 	3.4.4	  	No Adverse Order	  	 	6	 
		
	ARTICLE 4 REPRESENTATIONS AND WARRANTIES OF THE COMPANY	  	 	6	 
			
	 4.1
	 	No Registration Required; Rule 144A Eligibility	  	 	6	 
			
	 4.2
	 	No Integration of Offerings or General Solicitation	  	 	6	 
			
	 4.3
	 	Accurate Disclosure; Public Filings	  	 	7	 
			
	 4.4
	 	The Purchase Agreement	  	 	7	 
			
	 4.5
	 	Use of Proceeds	  	 	7	 
			
	 4.6
	 	The Securities	  	 	7	 

  
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	 4.7
	 	The Indenture	  	 	7	 
			
	 4.8
	 	Registration Rights Agreement; Registration Rights	  	 	8	 
			
	 4.9
	 	The Underlying Securities	  	 	8	 
			
	 4.10
	 	The Shares	  	 	8	 
			
	 4.11
	 	No Material Changes	  	 	8	 
			
	 4.12
	 	Title to Properties	  	 	9	 
			
	 4.13
	 	Incorporation and Good Standing of the Company and the Guarantor	  	 	9	 
			
	 4.14
	 	No Manipulation	  	 	9	 
			
	 4.15
	 	Non-Contravention of Existing Instruments; No Further Authorizations or Approvals Required	  	 	9	 
			
	 4.16
	 	No Violation	  	 	10	 
			
	 4.17
	 	No Material Actions or Proceedings	  	 	10	 
			
	 4.18
	 	Company and Guarantor are Not an “Investment Company”	  	 	10	 
			
	 4.19
	 	Independent Accountants	  	 	10	 
			
	 4.20
	 	Internal Controls	  	 	10	 
			
	 4.21
	 	Preparation of Financial Statements	  	 	10	 
			
	 4.22
	 	Disclosure Controls and Procedures	  	 	11	 
			
	 4.23
	 	XBRL	  	 	11	 
			
	 4.24
	 	Intellectual Property Rights	  	 	11	 
			
	 4.25
	 	Insurance	  	 	11	 
			
	 4.26
	 	All Necessary Permits	  	 	11	 
			
	 4.27
	 	Third-Party Data	  	 	12	 
			
	 4.28
	 	Compliance with Applicable Laws	  	 	12	 
			
	 4.29
	 	Anti-Bribery Laws	  	 	12	 
			
	 4.30
	 	OFAC	  	 	12	 
			
	 4.31
	 	Money Laundering Laws	  	 	12	 
			
	 4.32
	 	Privacy Laws	  	 	13	 
			
	 4.33
	 	Absence of Labor Dispute	  	 	13	 
			
	 4.34
	 	Compliance with Environmental Laws	  	 	13	 
			
	 4.35
	 	Tax Compliance	  	 	13	 
			
	 4.36
	 	ERISA Compliance	  	 	13	 
			
	 4.37
	 	IT Systems	  	 	14	 
			
	 4.38
	 	Brokers	  	 	15	 
			
	 4.39
	 	Solvency	  	 	15	 
		
	ARTICLE 5 REPRESENTATIONS AND WARRANTIES OF THE PURCHASERS	  	 	15	 
			
	 5.1
	 	Representations and Warranties of Purchaser	  	 	15	 
				
		 	5.1.1	  	Organization, Authority and Power	  	 	15	 

  
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		 	5.1.2	  	Valid and Binding Obligations	  	 	15	 
				
		 	5.1.3	  	Securities Law Matters	  	 	15	 
				
		 	5.1.4	  	Reliance Upon Purchaser’s Representations	  	 	16	 
				
		 	5.1.5	  	Exculpation	  	 	16	 
				
		 	5.1.6	  	Placement Agent	  	 	16	 
		
	ARTICLE 6 ADDITIONAL COVENANTS	  	 	17	 
			
	 6.1
	 	No Integration	  	 	17	 
			
	 6.2
	 	Transfer Agent	  	 	17	 
			
	 6.3
	 	Available Securities of Class A Common Stock	  	 	17	 
			
	 6.4
	 	No Restricted Resales	  	 	17	 
			
	 6.5
	 	Regulatory Filings	  	 	17	 
			
	 6.6
	 	Board Rights	  	 	18	 
			
	 6.7
	 	DTC	  	 	19	 
			
	 6.8
	 	Debt Incurrence	  	 	19	 
			
	 6.9
	 	Indemnification	  	 	20	 
			
	 6.10
	 	Compliance with NYSE Rule 312.03(b)	  	 	21	 
			
	 6.11
	 	Section 16 Matters	  	 	23	 
			
	 6.12
	 	Efforts	  	 	23	 
		
	ARTICLE 7 TERMINATION	  	 	23	 
			
	 7.1
	 	Termination	  	 	23	 
			
	 7.2
	 	Effect of Termination	  	 	24	 
		
	ARTICLE 8 MISCELLANEOUS	  	 	24	 
			
	 8.1
	 	Notices	  	 	24	 
			
	 8.2
	 	Survival	  	 	26	 
			
	 8.3
	 	Entire Agreement; Amendments	  	 	26	 
			
	 8.4
	 	Successors and Assigns	  	 	26	 
			
	 8.5
	 	Governing Law	  	 	26	 
			
	 8.6
	 	Jury Trial	  	 	26	 
			
	 8.7
	 	Expenses, Etc	  	 	26	 
			
	 8.8
	 	Captions	  	 	27	 
			
	 8.9
	 	Severability	  	 	27	 
			
	 8.10
	 	Counterparts	  	 	27	 
			
	 8.11
	 	No Waiver	  	 	27	 
			
	 8.12
	 	Damages Waiver; Specific Performance	  	 	27	 
			
	 8.13
	 	Reliance by Goldman Sachs	  	 	27	 

  
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 2.50% ACCRETING CONVERTIBLE SENIOR NOTES DUE 2025 AMENDED AND RESTATED PURCHASE AGREEMENT

 This 2.50% Accreting Convertible Senior Notes due 2025 Amended and Restated Purchase Agreement (this “Agreement”),
dated as of April 7, 2020, is entered into by and among Wayfair Inc., a Delaware corporation (the “Company”), Wayfair LLC, a Delaware limited liability company, and the parties listed on Schedule I hereto (each a
“Purchaser” and, collectively, the “Purchasers”) (the Company and the Purchasers being sometimes hereinafter referred to individually as a “Party” and collectively as the
“Parties”), with reference to the following: 
 RECITALS 

Each of the Parties is party to that certain 2.50% Accreting Convertible Senior Notes due 2025 Purchase Agreement (the “Original
Agreement”), dated as of April 6, 2020, and the Parties desire to amend and restate the Original Agreement in the form of this Agreement to, among other things, revise the closing mechanics in order to reflect a direct funding of the
Applicable Purchase Price by each Purchaser to the Company in lieu of using a third party escrow mechanic. 
 The Company desires to sell,
and each Purchaser desires to purchase, the number of the Company’s 2.50% Accreting Convertible Senior Notes due 2025 (the “Securities”) specified opposite such Purchaser’s name in Schedule I hereto upon the terms
and subject to the conditions set forth in this Agreement. The Securities will be issued pursuant to an Indenture to be dated the Closing Date (as defined below) substantially in the form set forth as Exhibit A to this Agreement (the
“Indenture”), among the Company, as Issuer, Wayfair LLC, as Guarantor (the “Guarantor”), and U.S. Bank National Association, as trustee (the “Trustee”). 

NOW, THEREFORE, in consideration of the mutual covenants and agreements in this Agreement and for other good and valuable consideration, the
receipt and sufficiency of which is hereby acknowledged, the Parties, intending to be legally bound, agree as follows: 
 ARTICLE 1

 DEFINITIONS AND INTERPRETATION 

1.1    Defined Terms. Capitalized terms used in this Agreement (including in the Preamble and the Recitals hereto)
without other definition shall have the following meanings, unless the context clearly requires otherwise: 
 “Affiliate”
has the meaning ascribed to such term in Rule 501 under the Securities Act. 
 “Agreement” means this 2.50% Accreting
Convertible Senior Notes due 2025 Purchase Agreement, including all Exhibits and other attachments hereto. 
 “Applicable Purchase
Price” has the meaning ascribed to such term in Section 2.2. 
 “Business Day” means any day other than a
Saturday, Sunday or other day on which commercial banks in New York, New York are required or authorized by law to close. 

“Class A Common Stock” means the Class A common stock of the Company, par value $0.001 per share.

 “Closing” has the meaning ascribed to such term in Section 3.1 hereof. 

“Closing Actions” has the meaning ascribed to such term in Section 3.2 hereof. 

“Closing Date” has the meaning ascribed to such term in Section 3.1 hereof. 

“Code” means the Internal Revenue Code of 1986, as amended, and the regulations and published interpretations thereunder.

  
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 “Company” has the meaning ascribed to such term in the Preamble to this
Agreement. 
 “Control” means, for any person, the power to direct the management and policies of that person, directly or
indirectly, whether through the ownership of voting securities or beneficial interests, by contract or otherwise. The terms “Controlling” and “Controlled” have meanings correlative to the foregoing. 

“Equity-Linked Securities” has the meaning ascribed to such term in Section 6.8 hereof. 

“ERISA” means the Employee Retirement Income Security Act of 1974 and the regulations and published interpretations
thereunder. 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations of the
SEC promulgated thereunder. 
 “FINRA” means the United States Financial Industry Regulatory Authority. 

“Governmental Entity” means any court, administrative agency or commission or other governmental authority or
instrumentality, whether federal, state, local or foreign, and any applicable industry self-regulatory organization. 

“Guarantor” has the meaning ascribed to such term in the Preamble to this Agreement. 

“HSR Act” means the Hart-Scott-Rodino
Antitrust Improvements Act of 1976, as amended. 
 “Losses” means all losses, claims, damage, liabilities, costs, expenses
(including reasonable expenses of investigation and reasonable attorney’s fees and expense), judgments, fines, penalties, charges and amounts paid in settlement. 

“Material Adverse Effect” has the meaning ascribed to such term in Section 4.12 hereof. 

“NYSE” means the New York Stock Exchange. 

“Original Principal Amount” means the original principal amount per Note of $1,000. 

“Party” or “Parties” has the meaning ascribed to such term in the Preamble to this Agreement. 

“Public Filings” means, collectively, (i) the Company’s annual report on
Form 10-K for the year ended December 31, 2019 (including any information incorporated by reference therein), (ii) the definitive proxy on Schedule 14A filed by the Company March 31, 2020 and
(iii) the current report on Form 8-K filed by the Company on March 13, 2020. 

“Purchaser” has the meaning ascribed to such term in the Preamble to this Agreement. 

“Registration Rights Agreement” means the registration rights agreement substantially in the form set forth as
Exhibit B to this Agreement. 

  
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 “Revolving Credit Facility” means the revolving credit facility under the
Amended and Restated Credit Agreement dated February 21, 2019 among Wayfair LLC, Wayfair Inc., each other loan party from time to time party thereto, each lender from time to time party thereto and Citibank, N.A., as Administrative Agent. 

“SEC” means the U.S. Securities and Exchange Commission, or any other U.S. federal agency at the time administering the
Securities Act. 
 “Securities” or “Security” has the meaning ascribed to such term in the Recitals to
this Agreement. 
 “Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations of the SEC
thereunder. 
 “Solvent” has the meaning ascribed to such term in Section 4.39 hereof. 

“subsidiary” means with respect to the Company and at any time, any entity at such time directly or indirectly
(i) wholly or majority owned by any of the Company or any other subsidiary of the Company or (ii) Controlled by any of the Company or any other subsidiary of the Company. 

“Transactions” has the meaning ascribed to such term in Section 2.1 hereof. 

“Underlying Securities” has the meaning ascribed to such term in Section 2.3. 

1.2    Interpretation. Except where otherwise expressly provided or unless the context otherwise necessarily
requires, in this Agreement (including in the Recitals hereto): 
 (a)    Reference to a given Article,
Section, Subsection, clause, or Exhibit is a reference to an Article, Section, Subsection, clause, or Exhibit of this Agreement. 

(b)    The terms “hereof”, “herein”, “hereto”, “hereunder” and
“herewith” refer to this Agreement as a whole. 
 (c)    Reference to a given agreement,
instrument, document or law is a reference to that agreement, instrument, document or law as modified, amended, supplemented and restated through the date as of which such reference is made, and, as to any law, any successor law. 

(d)    Reference to a person includes its predecessors, successors and permitted assigns. 

(e)    The singular includes the plural and the masculine includes the feminine, and vice versa. 

(f)     “Includes” or “including” means “including, for example and without
limitation.” 
 (g)    References to “days” means calendar days. 

(h)    Any item disclosed by a Party on any schedule to this Agreement shall be deemed to be disclosed and
incorporated by reference into each other schedule or representation or warranty delivered or made by such Party in this Agreement, as though fully set forth therein. 

  
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 ARTICLE 2 

SUMMARY OF TRANSACTIONS 

2.1    Sale and Purchase of Securities. Subject to the terms and conditions hereof, at the Closing
(i) the Company agrees to issue and sell to each Purchaser, and each Purchaser agrees to purchase and acquire, the number of Securities specified opposite such Purchaser’s name in Schedule I hereto, at a purchase price of $1,000 per $1,000
Original Principal Amount of the Securities, and (ii) the Parties shall take or cause to be taken the other actions described in Section 3.2 (collectively, the “Transactions”). Each Purchaser shall, severally and not
jointly, be liable for only the purchase of the Securities that appear on Schedule I hereto that relate to such Purchaser. The Company’s agreement with each Purchaser is a separate agreement, and the sale of the Securities to be purchased by
each Purchaser is a separate sale. The obligations of each Purchaser hereunder are expressly not conditioned on the purchase by the other Purchaser of the Securities such other Purchaser has agreed to purchase. The Company shall notify each
Purchaser in writing of the account to which payment of the applicable purchase price shall be made at the Closing. Each Purchaser shall pay the applicable purchase price in immediately available funds at the Closing in accordance with
Section 3.2.2, subject to the satisfaction or waiver of the conditions to closing contained herein. 

2.2    Purchase Price. The amount payable by each Purchaser for all of the Securities to be purchased by such
Purchaser hereunder is set forth opposite such Purchaser’s name on Schedule I hereto (such amount, as applicable to a Purchaser, the “Applicable Purchase Price”). 

2.3    Underlying Securities. The Securities will be convertible into shares of Class A Common Stock on
the terms, and subject to the conditions, set forth in the Indenture (as defined below). The shares of Class A Common Stock into which the Securities are convertible are referred to herein as the “Underlying Securities.” 

ARTICLE 3 
 CLOSING AND
CLOSING CONDITIONS 
 3.1    Time and Place of the Closing. Subject to the terms and conditions hereof, the
closing of the transactions contemplated by Section 2.1 (the “Closing”) shall take place at the offices of Goodwin Procter LLP, 100 Northern Avenue, Boston, Massachusetts 02210, at 10:00 A.M., Boston time, on the second
Business Day after fulfillment or waiver of the closing conditions, or at such other time on the same or such other date as the Company and the Purchasers mutually agree (the actual date of the Closing is referred to herein as the “Closing
Date”). 
 3.2    Actions at the Closing. At the Closing, the Company and the Purchasers (as applicable)
shall take or cause to be taken the following actions (the “Closing Actions”): 

3.2.1    Delivery of Securities. In exchange for the payment referenced in Section 3.2.2 below, the
Company shall deliver to each Purchaser, through the facilities of the Depository Trust Company (“DTC”), the Securities to be purchased by such Purchaser hereunder. 

3.2.2    Payment of Purchase Price. Each Purchaser shall pay the Applicable Purchase Price to the
Company by wire transfer in immediately available funds to the account provided to each Purchaser in writing prior to the Closing. 

3.2.3    Additional Actions. The Parties shall execute and deliver, or cause to be executed and
delivered, all other documents, and take such other actions, in each case as shall be necessary or appropriate, to consummate the transactions contemplated hereby, all in accordance with the provisions of this Agreement. 

  
 4 

 3.3    Conditions Precedent to Obligations of each Purchaser. The
obligation of each Purchaser to consummate the purchase of the Securities to be purchased by such Purchaser at Closing shall be subject to each of the following conditions, any of which conditions may be waived by such Purchaser in its sole
discretion: 
 3.3.1    Opinions. The Company shall cause to be delivered to the Purchasers the
opinion of Goodwin Procter LLP, special counsel for the Company, dated as of the Closing Date, substantially in the form set forth as Exhibit C to this Agreement. 

3.3.2    NYSE Supplemental Listing of Underlying Securities. The sale by the Company of the
Securities to all Purchasers and the purchase of the Securities by all Purchasers shall comply with Section 312.03(b) of the NYSE Listed Company Manual (“Rule 312.03(b)”), as a result of either the effectiveness of the waiver
of application of Rule 312.03(b) described in the first sentence of Section 6.10.1 hereof or receipt of stockholders’ approval in accordance with Rule 312.03(b) as described in Section 6.10.1 through 6.10.3. 

3.3.3    Indenture. The Purchasers shall have received an executed original copy of the Indenture.

 3.3.4    Registration Rights Agreement. The Purchasers shall have received an executed original
copy of the Registration Rights Agreement duly executed by the Company. 
 3.3.5    Good Standing
Certificate. The Company shall cause to be delivered to the Purchasers certificates of the Secretary of State of the State of Delaware, dated not more than three business days prior to the Closing Date, to the effect that each of the Company and
Wayfair LLC is validly existing and in good standing. 
 3.3.6    Secretary’s
Certificate. The Company shall cause to be delivered to the Purchasers a certificate of the Secretary or Assistant Secretary of the Company, certifying as to (1) the Company’s charter documents and
by-laws, (2) board resolutions authorizing the issuance of the Securities, and (3) the incumbency of the officer authorized to execute this Agreement, the Indenture, the Registration Rights Agreement
and the certificates evidencing the Securities, setting forth the name and title and bearing the signatures of such officer. The Guarantor shall have delivered to the Purchasers a certificate of the Secretary or Assistant Secretary of the Guarantor,
certifying as to (1) the Guarantor’s certificate of formation and operating agreement, (2) member resolutions authorizing the issuance of the guarantee, and (3) the incumbency of the officer authorized to execute this Agreement
and the Indenture, setting forth the name and title and bearing the signatures of such officer. 

3.3.7    Performance of Closing Actions. The Company shall have performed in all material respects
all the covenants and agreements required to be performed by it at or before Closing, including its Closing Actions. 

3.3.8    No Adverse Order. There shall be no injunction of any nature of any governmental authority
of competent jurisdiction or any law that is in effect that restrains, prohibits or prevents the consummation of the transactions contemplated hereby, that directs that the transactions contemplated hereby not be consummated, or which has the effect
of rendering it unlawful to consummate the transactions contemplated hereby. 

  
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 3.4    Conditions Precedent to Obligations of the Company. The
obligation of the Company to issue the applicable number of Securities to each Purchaser, as applicable, at the Closing shall be subject to each of the following conditions any of which conditions may be waived by the Company in its sole discretion:

 3.4.1    Registration Rights Agreement. The Company shall have received an executed original
copy of the Registration Rights Agreement duly executed by such Purchaser. 
 3.4.2    Performance of
Closing Actions. Such Purchaser shall have performed in all material respects all the covenants and agreements required to be performed by it at or before Closing, including its Closing Actions. 

3.4.3    Withholding Certificates. Such Purchaser shall at the Closing, and subsequently as
requested by the Company, provide to the Company a duly completed and valid IRS Form W-9 or W-8 (of the type applicable to such Purchaser), as applicable, executed in
its name or, if the Purchaser is a single-member entity that is disregarded for U.S. federal income tax purposes, the name of its single owner. 

3.4.4    No Adverse Order. There shall be no injunction of any nature of any governmental authority
of competent jurisdiction or any law that is in effect that explicitly restrains, prohibits or prevents the consummation of the transactions contemplated hereby, that directs that the transactions contemplated hereby not be consummated, or which has
the effect of rendering it unlawful to consummate the transactions contemplated hereby. 
 ARTICLE 4 

REPRESENTATIONS AND WARRANTIES OF THE COMPANY 

Except as disclosed in the Public Filings (excluding in each case any disclosures set forth in the risk factors or “forward-looking
statements” sections of such filings, and any other disclosures included therein to the extent they are predictive or forward-looking in nature, except for such statements that relate to the impact of the ongoing coronavirus pandemic), the
Company hereby represents and warrants to the Purchasers as to itself and as to the Guarantor, and the Guarantor hereby represents and warrants to the Purchasers, as to itself, in each case, as of the date hereof that: 

4.1    No Registration Required; Rule 144A Eligibility. Subject to compliance by the Purchasers with the
representations and warranties set forth in Article 5 hereof, it is not necessary in connection with the offer, sale, issuance and delivery of the Securities to the Purchasers in the manner contemplated by this Agreement to register the Securities
under the Securities Act. The Securities are not of the same class as securities listed on a national securities exchange registered under Section 6 of the Exchange Act, or quoted in a U.S. automated interdealer quotation system. The Company is
subject to the reporting requirements of Section 13 of the Exchange Act. 
 4.2    No Integration of Offerings
or General Solicitation. None of the Company, its Affiliates or, to the knowledge of the Company, any person acting on its or any of their behalf has, directly or indirectly, sold, solicited any offer to buy or offered to sell, or will, directly
or indirectly, sell, solicit any offer to buy or offer to sell, in the United States or to any United States citizen or resident, any security (as defined in the Securities Act) which is or would be integrated with the offering and sale of the

  
 6 

 
Securities in a manner that would require the Securities to be registered under the Securities Act. None of the Company, its Affiliates, or any person acting on its or any of their behalf has
engaged or will engage, in connection with the offering of the Securities, in any form of general solicitation or general advertising within the meaning of Rule 502 under the Securities Act. 

4.3    Accurate Disclosure; Public Filings. (a) Each Public Filing did not, when filed, and the Public
Filings, as amended or supplemented through the date hereof, taken as a whole, do not contain any untrue statement of a material fact or omit to state any material fact necessary to make the statements therein, in light of the circumstances under
which they were made, not misleading. The Public Filings, at the time they were filed with the SEC complied in all material respects with the requirements of the Exchange Act. 

(b)    There are no contracts or other documents of a character that are required by the Act to be
described in, or filed as an exhibit to, the Public Filings which are not described or filed as required. Each description of a contract, document or other agreement in the Public Filings accurately reflects in all material respects the terms of the
contract, document or other agreement. 
 (c)    No relationship, direct or indirect, exists between or
among the Company, on the one hand, and the directors, officers, stockholders, customers or suppliers of the Company, on the other hand, that is required to be described in Public Filings which is not so described. 

4.4    The Purchase Agreement. This Agreement has been duly authorized, executed and delivered by each of the
Company and the Guarantor, and is a valid and binding agreement of the Company and the Guarantor, enforceable against each of the Company and the Guarantor in accordance with its terms, except as the enforcement thereof may be limited by bankruptcy,
insolvency, reorganization, moratorium or other similar laws relating to or affecting the rights and remedies of creditors or by general equitable principles. 

4.5    Use of Proceeds. The Company shall use the proceeds from the offer and sale of the Securities pursuant to
the terms this agreement to pay fees and expenses associated with the offering of the Securities and for general corporate purposes, which may include the repayment of borrowings outstanding under the Company’s Revolving Credit Facility. 

4.6    The Securities. The Securities have been duly authorized, and, at the Closing Date, will have been duly
executed and delivered by the Company, and will be a valid and binding agreement of the Company, enforceable against the Company in accordance with their terms, except as the enforcement thereof may be limited by bankruptcy, insolvency,
reorganization, moratorium or other similar laws relating to or affecting the rights and remedies of creditors or by general equitable principles. 

4.7    The Indenture.    The Indenture (including the guarantee by the Guarantor) has been duly
authorized and, at the Closing Date, will have been duly executed and delivered by each of the Company and the Guarantor, and will be a valid and binding agreement of each of the Company and the Guarantor, enforceable against each of the Company and
the Guarantor in accordance with its terms, except as the enforcement thereof may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws relating to or affecting the rights and remedies of creditors or by general
equitable principles. 
 4.8    Registration Rights Agreement; Registration Rights. The Registration Rights
Agreement has been duly authorized and, at the Closing Date, will have been duly executed and delivered by the Company, and will be a valid and binding agreement of the Company, enforceable against the

  
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Company in accordance with its terms, except as the enforcement thereof may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws relating to or affecting the
rights and remedies of creditors or by general equitable principles and except as rights to indemnification under the Registration Rights Agreement may be limited by applicable law. There are no persons with registration rights or other similar
rights to have any securities registered for sale or sold by the Company under the Securities Act, other than those rights provided for in the Registration Rights Agreement. 

4.9    The Underlying Securities. The number of shares of Class A Common Stock issuable upon conversion of the
Securities (after giving effect to the maximum possible Accreted Principal Amount and including the number of additional shares of Class A Common Stock by which the Conversion Rate (as such term is defined in the Indenture) may be increased
upon conversion in connection with a Make-Whole Fundamental Change (as defined in the Indenture) or after the Company has provided a Notice of Redemption (in each case, as such term is defined in the Indenture) have been duly and validly authorized
and reserved for issuance and, when issued and delivered in accordance with the provisions of the Securities and the Indenture, will be duly and validly issued and fully paid and non-assessable, and the
issuance of such shares of Class A Common Stock will not be subject to any preemptive rights. 
 4.10    The
Shares. All of the outstanding shares of capital stock of the Company have been duly authorized and validly issued and are fully paid and non-assessable; and all of the outstanding shares of capital
stock, or membership interests, as applicable of each subsidiary of the Company have been duly authorized and validly issued, are fully paid and non-assessable and are owned directly or indirectly by the
Company, free and clear of all liens, encumbrances, equities or claims, except for any such shares or membership interests pledged as collateral pursuant to the Amended and Restated Credit Agreement dated February 21, 2019 and as may be further
amended, restated, amended and restated, supplemented or otherwise modified from time to time) among Wayfair LLC, Wayfair Inc., each lender from time to time party thereto and Citibank, N.A., as Administrative Agent, Swing Line Lender and L/C
Issuer. 
 4.11    No Material Changes. Neither the Company or any of its subsidiaries nor the Guarantor
or any of its subsidiaries has sustained, since the date of the latest audited financial statements included in the Public Filings, any material loss or interference with the business of the Company and its subsidiaries, taken as a whole, or the
Guarantor and its subsidiaries taken as a whole from fire, explosion, flood or other calamity, whether or not covered by insurance, or from any labor dispute or court or governmental action, order or decree otherwise than as set forth or
contemplated in the Public Filings; and there has not been any material change in the capital stock of the Company or the Guarantor (other than as a result of (A) the issuance by the Company of shares of Class A Common Stock or
Class B Common Stock, par value $0.001 per share) upon the exercise of an option or warrant, the settlement of deferred units or restricted stock units or the conversion or exchange of convertible or exchangeable securities outstanding as of
the date of this Agreement and described in the Public Filings, or (B) the grant or issuance of any shares of Class A Common Stock or securities convertible into, exchangeable for or that represent the right to receive shares of
Class A Common Stock, in each case in the ordinary course of business pursuant to the Company’s equity incentive plans that are described in the Public Filings or material change in the long-term
debt of the Company or any of its subsidiaries or any material adverse change, or any development involving a prospective material adverse change, in or affecting the general affairs, management, financial position, stockholders’ equity or
results of operations of the Company and its subsidiaries, taken as a whole, or of the Guarantor and its subsidiaries taken as a whole, otherwise than as set forth or contemplated in the Public Filings. 

4.12    Title to Properties. The Company and its subsidiaries have good and marketable title in fee simple
to all real property and good and marketable title to all personal property owned by them, in each case free and clear of all liens, encumbrances and defects except such as are described in the Public

  
 8 

 
Filings, or such as do not, individually or in the aggregate, have a material adverse effect on the general affairs, management, or the current or future financial position, stockholders’
equity or results of operations of the Company and its subsidiaries, taken as a whole or of the Guarantor and its subsidiaries taken as a whole (a “Material Adverse Effect”) and do not materially interfere with the use made and
proposed to be made of such property by the Company and its subsidiaries; and any real property and buildings held under lease by the Company and its subsidiaries are held by them under valid, subsisting and enforceable leases (subject to the
effects of (A) bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance, or other laws of general application relating to or affecting the enforcement of creditors’ rights generally or (B) laws relating to the
availability of specific performance, injunctive relief, or other equitable remedies), with such exceptions as are not material and do not materially interfere with the use made and proposed to be made of such property and buildings by the Company
and its subsidiaries, taken as a whole. 
 4.13    Incorporation and Good Standing of the Company and the
Guarantor. Each of the Company and the Guarantor (i) has been duly incorporated or formed and is validly existing as a corporation or limited liability company in good standing under the laws of the State of Delaware, with power and
authority (corporate and other) to own its properties and conduct its business as described in the Public Filings, and (ii) has been duly qualified as a foreign corporation for the transaction of business and is in good standing under the laws
of each other jurisdiction in which it owns or leases properties or conducts any business so as to require such qualification, or is subject to no material liability or disability by reason of the failure to be so qualified or be in good standing in
any such jurisdiction; and each subsidiary of the Company has been duly organized and is validly existing as a business entity in good standing under the laws of its jurisdiction of incorporation or formation, except, in the case of this clause
(ii), to the extent that failure to be in good standing would not result in a Material Adverse Effect. 
 4.14    No
Manipulation. Prior to the date hereof, neither the Company nor any of its affiliates has taken any action which is designed to or which has constituted or which would reasonably be expected to cause or result in stabilization or
manipulation of the price of any security of the Company in connection with the offering of the Securities. 

4.15    Non-Contravention of Existing Instruments; No Further Authorizations or
Approvals Required. The issue and sale of the Securities (including the issuance of the Underlying Securities upon conversion thereof), the execution, delivery and compliance by the Company and the Guarantor with all of the provisions of the
Securities, the Indenture, and this Agreement and the consummation of the transactions herein and therein contemplated (a) will not conflict with or result in a breach or violation of any of the terms or provisions of, or constitute a default
under, any indenture, mortgage, deed of trust, loan agreement, lease or other agreement or instrument to which the Company or any of its subsidiaries is a party or by which the Company or any of its subsidiaries is bound or to which any of the
property or assets of the Company or any of its subsidiaries is subject, (b) will not violate (1) the provisions of the Certificate of Incorporation or By-laws of the Company or similar
organizational documents of any of its subsidiaries or (2) any statute or any order, rule or regulation of any court or governmental agency or body having jurisdiction over the Company or any of its subsidiaries or any of their properties,
except, in the case of (a) or (b)(2) above, for conflicts, breaches or violations that would not, individually or in the aggregate, have a Material Adverse Effect; and no consent, approval, authorization, order, registration or qualification of
or with any such court or governmental agency or body is required for the issue and sale of the Securities (including the related guarantee by the Guarantor or the issuance of the Underlying Securities upon conversion thereof) or the consummation by
the Company and the Guarantor of the transactions contemplated by this Agreement, the Indenture or the Securities (including the related guarantee by the Guarantor), except such consents, approvals, authorizations, orders, registrations or
qualifications as would not, individually or in the aggregate, have a Material Adverse Effect or as may be required under state securities or Blue Sky laws in connection with the purchase and distribution of the Securities by the Purchasers. 

  
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 4.16    No Violation. Neither the Company nor any of its
subsidiaries is in violation of (A) its Certificate of Incorporation or By-laws or similar organizational documents or (B) in default in the performance or observance of any material obligation,
agreement, covenant or condition contained in any indenture, mortgage, deed of trust, loan agreement, lease or other agreement or instrument to which it is a party or by which it or any of its properties may be bound, except, in the case of (B), for
such defaults as would not, individually or in the aggregate, have a Material Adverse Effect. 
 4.17     No Material
Actions or Proceedings. Other than as set forth in the Public Filings, there are no legal or governmental proceedings pending to which the Company or any of its subsidiaries or, to the Company’s knowledge, any officer or director of
the Company, is a party or of which any property of the Company or any of its subsidiaries or, to the Company’s knowledge, any officer or director of the Company, is the subject which, if determined adversely to the Company or any of its
subsidiaries, would individually or in the aggregate have a Material Adverse Effect; and, to the best of the Company’s knowledge, no such proceedings are threatened or contemplated by governmental authorities or threatened by others. 

4.18    Company and Guarantor are Not an “Investment Company”. The Company and the Guarantor are
not and, after giving effect to the transactions contemplated by the offering and sale of the Securities and the application of the proceeds thereof, will not be, an “investment company”, as such term is defined in the Investment Company
Act of 1940, as amended (the “Investment Company Act”). 
 4.19    Independent Accountants.
Ernst & Young LLP, who has certified certain financial statements of the Company and its subsidiaries, is an independent public accountant as required by the Act and the rules and regulations of the SEC thereunder. 

4.20    Internal Controls. (a) The Company maintains a system of internal control over financial
reporting (as such term is defined in Rule 13a-15(f) under the Exchange Act) that complies in all material respects with the requirements of the Exchange Act and has been designed by the Company’s
principal executive officer and principal financial officer, or under their supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance
with generally accepted accounting principles in the United States (“GAAP”). The Company’s internal control over financial reporting is effective and the Company is not aware of any material weaknesses in its internal control
over financial reporting. 
 (b)    Since the date of the latest audited financial statements prior to
this Agreement, there has been no change in the Company’s internal control over financial reporting that has had a Material Adverse Effect, or is reasonably likely to have a Material Adverse Effect, the Company’s internal control over
financial reporting. 
 4.21    Preparation of Financial Statements. The historical financial statements
of the Company in the Public Filings present fairly in all material respects the financial condition, results of operations and cash flows of the Company as of the dates and for the periods indicated, comply as to form in all material respects with
the applicable accounting requirements of the Act and have been prepared in conformity with GAAP applied on a consistent basis throughout the periods involved (except as otherwise noted therein). 

 

  
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 4.22    Disclosure Controls and Procedures. The Company
maintains disclosure controls and procedures (as such term is defined in Rule 13a-15(e) under the Exchange Act) that comply in all material respects with the requirements of the Exchange Act; such disclosure
controls and procedures have been designed to ensure that material information relating to the Company and its subsidiaries is made known to the Company’s principal executive officer and principal financial officer by others within those
entities; and such disclosure controls and procedures are effective. 
 4.23    XBRL. The interactive data in
eXtensible Business Reporting Language included in Public Filings fairly presents the information called for in all material respects and has been prepared in accordance with the rules and guidelines of the SEC applicable thereto. 

4.24    Intellectual Property Rights. Except as described in the Public Filings and where the failure of any of the
following representations to be true would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect: (i) the Company and its subsidiaries own or possess, or can acquire on commercially reasonable terms,
all rights to patents, patent rights and patent applications, copyrights, trademarks, trademark registrations, service marks, trade names, Internet domain names, technology, confidential information, software and source code, social media
identifiers or accounts, know-how (including trade secrets and other unpatented or unpatentable proprietary or confidential information, systems or procedures) and other intellectual property and proprietary
rights necessary to, or used in connection with, the conduct of their business as currently conducted and in the manner set forth in the Public Filings (collectively, the “Company Intellectual Property”); (ii) to the Company’s
knowledge, none of the Company Intellectual Property owned by the Company or its subsidiaries is invalid or unenforceable and neither the Company nor any of its subsidiaries has received any challenge (including without limitation, notices of
expiration) to the validity or enforceability thereof from any third party or governmental authority and the Company and its subsidiaries have made all filings and paid all fees necessary to maintain any Company Intellectual Property owned by any of
them for the conduct of their business as currently conducted and in the manner set forth in the Public Filings; (iii) the Company and its subsidiaries have taken reasonable measures necessary to secure their interests in Company Intellectual
Property, including the confidentiality of all trade secrets and confidential information which constitutes Company Intellectual Property, and to secure assignment of Company Intellectual Property from its employees and contractors; (iv) the
Company is not aware of any Company Intellectual Property required to be described in the Public Filings which is not so described; and (iv) neither the Company nor any of its subsidiaries has received any notice of a claim of infringement or
misappropriation of (and the Company does not know of any infringement or misappropriation of) intellectual property rights of others by the Company or any of its subsidiaries. 

4.25    Insurance.    The Company and each of its subsidiaries are insured by
insurers of recognized financial responsibility against such losses and risks and in such amounts as are prudent and customary in the businesses in which they are engaged; neither the Company nor any of its subsidiaries has been refused any
insurance coverage sought or applied for; and neither the Company nor any of its subsidiaries has any reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage expires or to obtain similar coverage
from similar insurers as may be necessary to continue its business at a cost that would not have a Material Adverse Effect, except as described in the Public Filings. 

4.26    All Necessary Permits. The Company and its subsidiaries possess all certificates, authorizations and
permits issued by the appropriate federal, state or foreign regulatory authorities necessary to conduct their respective businesses, and neither the Company nor any of its subsidiaries has received any written notice of proceedings relating to the
revocation or modification of any such certificate, authorization or permit which, singly or in the aggregate, if the subject of an unfavorable decision, ruling or finding, would have, individually or in the aggregate, a Material Adverse Effect,
except as described in the Public Filings. 

  
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 4.27    Third-Party Data. The statistical and market-related data
contained in the Public Filings are based on or derived from sources which the Company reasonably and in good faith believes are reliable and accurate, and such data agree with the sources from which they were derived. 

4.28    Compliance with Applicable Laws. (a) Except as described in Public Filings, the Company and its
subsidiaries are in compliance with, and conduct their respective businesses in conformity with, all applicable federal, state and local laws and regulations, except where the failure to so comply or conform would not, individually or in the
aggregate, reasonably be expected to have a Material Adverse Effect. 
 (b)    None of the transactions
contemplated by this Agreement will violate or result in a violation of Section 7 of the Exchange Act, or any regulation promulgated thereunder, including, without limitation, Regulations T, U, and X of the Board of Governors of the Federal
Reserve System. 
 4.29    Anti-Bribery Laws. Neither the Company nor any of its subsidiaries, nor, to the
Company’s knowledge, any other person associated with or acting on behalf of the Company or any of its subsidiaries, including, without limitation, any director, officer, agent or employee of the Company or any of its subsidiaries, has, while
acting on behalf of the Company or any of its subsidiaries, (i) used any corporate funds for unlawful contributions, gifts, entertainment or other unlawful expenses relating to political activity; (ii) made any direct or indirect unlawful
payment to foreign or domestic government officials or employees from corporate funds; (iii) made any bribe, rebate, payoff, influence payment, kickback or other unlawful payment; or (iv) taken any action that would result in a violation
by such persons of any provision of the Foreign Corrupt Practices Act of 1977, as amended, and the rules and regulations thereunder or the Bribery Act of 2010 of the United Kingdom; and the Company has instituted and maintains policies and
procedures reasonably designed to ensure compliance therewith in all material respects. 
 4.30    OFAC. None of
the Company, any of its subsidiaries or, to the Company’s knowledge, any director, officer, agent, affiliate or employee of the Company or any of its subsidiaries, is currently subject to or the target of any sanctions administered or enforced
by the U.S. government including, without limitation, the Office of Foreign Assets Control of the U.S. Treasury Department (“OFAC”) or other relevant sanctions authority (collectively “Sanctions”), nor is the
Company or any of its subsidiaries organized in or a resident of a country or territory that is the subject of Sanctions; and the Company will not directly or indirectly use the proceeds from the sale of the Securities by the Company, or lend,
contribute or otherwise make available such proceeds to any subsidiary, affiliate, joint venture partner or other person or entity for the purpose of (i) financing or facilitating the financing of the activities of or business with any person,
or in any country or territory, that, at the time of such financing, is the subject of Sanctions or (ii) in any other manner that will result in a violation by any person (including any person participating in the transaction, whether as an
underwriter, advisor, investor or otherwise) of Sanctions. 
 4.31    Money Laundering Laws. The
operations of the Company and its subsidiaries are and have been conducted at all times in compliance with applicable financial recordkeeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970, as amended, the
money laundering statutes of all jurisdictions where the Company and its subsidiaries conduct business, the rules and regulations thereunder and any related or similar rules, regulations or guidelines, issued, administered or enforced by any
governmental agency (collectively, the “Money Laundering Laws”) and no action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving the Company or any of its subsidiaries
with respect to the Money Laundering Laws is pending or, to the knowledge of the Company, threatened. 

  
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 4.32    Privacy Laws. The Company and its subsidiaries
have complied, and are presently in compliance, with their privacy policies, their other third-party obligations and all applicable laws and regulations regarding the collection, use, transfer, storage, protection, disposal and disclosure by the
Company and its subsidiaries of personally identifiable information except where the failure to so comply would not individually or in the aggregate have a Material Adverse Effect. 

4.33    Absence of Labor Dispute. No material labor dispute with the employees of the Company exists, or to
the knowledge of the Company, is imminent. 
 4.34    Compliance with Environmental Laws. The Company and
each of its subsidiaries (i) is in compliance with all, and has not violated any, laws, regulations, ordinances, rules, orders, judgments, decrees, permits or other legal requirements of any governmental authority, including without limitation
any international, national, state, provincial, regional or local authority, relating to the protection of human health or safety, the environment, or natural resources, or to hazardous or toxic substances or wastes, pollutants or contaminants
(“Environmental Laws”) applicable to such entity, which compliance includes, without limitation, obtaining, maintaining and complying with all permits and authorizations and approvals required by Environmental Laws to conduct their
respective businesses and (ii) has not received notice of any actual or alleged violation of Environmental Laws or of any potential liability for or other obligation under or relating to any Environmental Law, including concerning the presence,
disposal or release of hazardous or toxic substances or wastes, pollutants or contaminants, and have no knowledge of any event or condition that would reasonably be expected to result in such notice, except where the failure to comply with such
Environmental Laws would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. There are no proceedings that are pending, or known to be contemplated, against the Company or any of its subsidiaries under
Environmental Laws in which a governmental authority is also a party; the Company and its subsidiaries are not aware of any issues regarding compliance with Environmental Laws, or liabilities or other obligations under Environmental Laws or
concerning hazardous or toxic substances or wastes, pollutants or contaminants, that could, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect; and neither the Company nor any of its subsidiaries anticipates
incurring material capital expenditures relating to Environmental Laws. 
 4.35    Tax Compliance. Except
as described in the Public Filings, the Company and each of its subsidiaries have filed all federal, state, local and foreign tax returns required to be filed through the date of this Agreement or have requested extensions thereof (except where the
failure to file would not, individually or in the aggregate, have a Material Adverse Effect) and have paid all taxes required to be paid thereon (except for cases in which the failure to file or pay would not have a Material Adverse Effect, or
except as currently being contested in good faith and for which reserves, if required by GAAP, have been created in the financial statements of the Company) and no tax deficiency has been determined adversely to the Company or any of its
subsidiaries which remains unpaid and has had (nor does the Company or any of its subsidiaries have any notice or knowledge of any tax deficiency which remains unpaid and could reasonably be expected to be determined adversely to the Company or its
subsidiaries and which could reasonably be expected to have), individually or in the aggregate, a Material Adverse Effect. 

4.36    ERISA Compliance. (A) Each employee benefit plan, within the meaning of Section 3(3) of ERISA,
for which the Company or any member of its “Controlled Group” (defined as any organization which is a member of a controlled group of corporations within the meaning of Section 414 of the Code would have any liability) (each, a
“Plan”) has been maintained in compliance with its terms and the requirements of any applicable statutes, orders, rules and regulations, including but not limited to, ERISA and the Code, except for noncompliance that could not
reasonably be expected to have a Material Adverse Effect; (B) no prohibited transaction, within the meaning of Section 406 of ERISA or 

  
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Section 4975 of the Code, has occurred with respect to any Plan excluding transactions effected pursuant to a statutory or administrative exemption that could reasonably be expected to have a
Material Adverse Effect; (iii) for each Plan that is subject to the funding rules of Section 412 of the Code or Section 302 of ERISA, the minimum funding standard of Section 412 of the Code or Section 302 of ERISA, as
applicable, has been satisfied (without taking into account any waiver thereof or extension of any amortization period) and is reasonably expected to be satisfied in the future (without taking into account any waiver thereof or extension of any
amortization period); (iv) for each Plan that is an employee pension benefit plan within the meaning of Section 3(2) of ERISA, the fair market value of the assets of each such Plan exceeds the present value of all benefits accrued under such
Plan (determined based on those assumptions used to fund such Plan); (v) no “reportable event” (within the meaning of Section 4043(c) of ERISA) has occurred or is reasonably expected to occur that either has, or could reasonably be
expected to have, a Material Adverse Effect; (vi) neither the Company nor any member of the Controlled Group has incurred, nor reasonably expects to incur, any liability under Title IV of ERISA (other than contributions to the Plan in the
ordinary course without default) in respect of a Plan (including a “multiemployer plan,” within the meaning of Section 4001(a)(3) of ERISA); and (vii) there is no pending audit or investigation by the Internal Revenue Service,
the U.S. Department of Labor, the Pension Benefit Guaranty Corporation or any other governmental agency or any foreign regulatory agency with respect to any Plan that could reasonably be expected to have a Material Adverse Effect. None of the
following events has occurred or is reasonably likely to occur: (x) a material increase in the aggregate amount of contributions required to be made to all Plans by the Company or its subsidiaries in the current fiscal year of the Company and
its subsidiaries compared to the amount of such contributions made in the Company and its subsidiaries’ most recently completed fiscal year or (y) a material increase in the Company and its subsidiaries’ “accumulated
post-retirement benefit obligations” (within the meaning of Statement of Financial Accounting Standards 106) compared to the amount of such obligations in the Company and its subsidiaries’ most recently completed fiscal year. 

4.37     IT Systems. The Company and its subsidiaries’ information technology assets and
equipment, computers, systems, networks, hardware, software, websites, applications, and databases (collectively, “IT Systems”) are adequate for, and operate and perform in all material respects as required in connection with the
operation of the business of the Company and its subsidiaries as currently conducted, free and clear of all material bugs, errors, defects, Trojan horses, time bombs, malware and other corruptants, to the best of the Company’s knowledge. The
Company and its subsidiaries have implemented and maintained commercially reasonable controls, policies, procedures, and safeguards to maintain and protect their material confidential information and the integrity, continuous operation, redundancy
and security of all IT Systems and data (including all personal, personally identifiable, sensitive, confidential or regulated data and including the data of their respective customers, employees, suppliers, vendors and any third party data
maintained by or on behalf of them) (“Personal Data”) used in connection with their businesses. Except as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect, to the best of the
Company’s knowledge there have been no breaches, violations, compromises, outages or unauthorized uses of or accesses to the IT Systems or Personal Data, except for those that have been remedied without material cost or liability or the duty to
notify any other person (including governmental or regulatory authorities), and the Company and its subsidiaries have not been notified of, and have no knowledge of any event or condition that would reasonably be expected to result in, any security
breach or other compromise to their IT Systems or Personal Data. 
 4.38    Brokers. Except for Goldman
Sachs & Co. LLC (“Goldman Sachs”), there is no broker, finder or other party that is entitled to receive from the Company any brokerage or finder’s fee or other fee or commission as a result of any transactions
contemplated by this Agreement. 

  
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 4.39    Solvency. Each of the Company and the Guarantor are, and
immediately after the Closing Date will be, Solvent. As used herein, the term “Solvent” means, with respect to any person on a particular date, that on such date (i) the fair market value of the assets of such person is greater than
the total amount of liabilities (including contingent liabilities) of such person, (ii) the present fair salable value of the assets of such person is greater than the amount that will be required to pay the probable liabilities of such person
on its debts as they become absolute and matured, (iii) such person is able to realize upon its assets and pay its debts and other liabilities, including contingent obligations, as they mature and (iv) such person does not have
unreasonably small capital. 
 ARTICLE 5 

REPRESENTATIONS AND WARRANTIES OF THE PURCHASERS 

5.1    Representations and Warranties of Purchaser. Each Purchaser hereby represents and warrants to the Company,
severally and not jointly, that: 
 5.1.1    Organization, Authority and Power. Such Purchaser is
duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization and has the requisite power and authority to enter into this Agreement, to consummate each of the transactions and undertakings contemplated
hereby, and to perform all the terms and conditions hereof to be performed by it. The execution, delivery and performance of this Agreement and the Registration Rights Agreement and consummation of each of the transactions and undertakings
contemplated hereby and thereby have been duly authorized by all requisite action on its part under such Purchaser’s constituent or governing documents and applicable law. 

5.1.2     Valid and Binding Obligations. This Agreement has been duly and validly executed
and delivered, and is enforceable against such Purchaser in accordance with the terms thereof except as the enforcement thereof may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws relating to or affecting the
rights and remedies of creditors or by general equitable principles. 
 5.1.3    Securities Law
Matters. Such Purchaser hereby acknowledges that the offer and sale of the Securities and the Underlying Securities to such Purchaser are being made as a private placement pursuant to Section 4(a)(2) of the Securities Act and are not being
registered under the Securities Act. Such Purchaser hereby acknowledges that neither the offer and sale of the Securities nor the offer and sale of the Underlying Securities have been registered under the Securities Act, or registered or qualified
under any state securities laws, and the Securities and the Underlying Securities cannot be resold without registration thereunder or exemption therefrom. Such Purchaser is an “accredited investor,” as such term is defined in Rule
501(a)(1), (2), (3) or (7) of Regulation D under the Securities Act, and will acquire the Securities and Underlying Securities for its own account, not as a nominee or agent, and not with a view to a sale or distribution thereof in violation of
the Securities Act, any applicable state “blue sky” laws or any other applicable securities laws, and such Purchaser has no present intention of selling, granting any participation in, or otherwise distributing the Securities or the
Underlying Securities. Such Purchaser is an Institutional Account as defined in FINRA Rule 4512(c). Such Purchaser has sufficient knowledge and experience in financial and business matters to enable it to evaluate the risks of investment in the
Securities and Underlying Securities, is purchasing the Securities with a full understanding of all of the terms, conditions and risks thereof, and at the Closing will bear and have the ability to bear the economic risk of this investment for an
indefinite period of time, 

  
 15 

 
including, but not limited to, loss of such Purchaser’s entire investment therein. Such Purchaser has carefully reviewed any disclosure documents used in the offering of the Securities and
has been furnished with all other materials that it considers relevant to an investment in the Securities, has had a full opportunity to ask questions of and receive answers from the Company or any person or persons acting on behalf of the Company
concerning the terms and conditions of an investment in the Securities, and no statement or printed material which is contrary to the disclosure documents has been made or given to the Purchaser by or on behalf of the Company. Such Purchaser
understands and agrees to the terms and conditions under which the Securities and the Underlying Securities are being offered. 

5.1.4    Reliance Upon Purchaser’s Representations. Such Purchaser understands
and acknowledges that: (a) neither the Securities nor the Underlying Securities have been registered under the Securities Act; and (b) its representations and warranties contained herein are being relied upon by the Company as a basis for
exemption of the sale of the Securities under the Securities Act. If any of the representations made by the Purchaser in connection with its purchase of Securities are no longer accurate, such Purchaser will promptly notify the Company. 

5.1.5    Exculpation. Such Purchaser acknowledges that it is not relying upon, and has not relied
upon, any statement, representation or warranty made by Goldman Sachs, any of its affiliates or any it’s or their control persons, officers, directors or employees, in making its investment or decision to invest in the Company. 

5.1.6    Placement Agent. Such Purchaser hereby acknowledges and agrees that (a) Goldman Sachs
is acting solely as placement agent in connection with the Transactions and is not acting as an underwriter or in any other capacity and is not and shall not be construed as a fiduciary for such Purchaser, the Company or any other person or entity
in connection with the Transactions, (b) Goldman Sachs has not made and will not make any representation or warranty, whether express or implied, of any kind or character and has not provided any advice or recommendation in connection with the
Transactions, (c) Goldman Sachs will have no responsibility with respect to (i) any representations, warranties or agreements made by any person or entity under or in connection with the Transactions or any of the documents furnished
pursuant thereto or in connection therewith, or the execution, legality, validity or enforceability (with respect to any person) or any thereof, or (ii) the business, affairs, financial condition, operations, properties or prospects of, or any
other matter concerning the Company or Transactions, and (d) Goldman Sachs shall have no liability or obligation (including without limitation, for or with respect to any losses, claims, damages, obligations, penalties, judgments, awards,
liabilities, costs, expenses or disbursements incurred by such Purchaser, the Company or any other person or entity), whether in contract, tort or otherwise, to such Purchaser, or to any person claiming through such Purchaser, in respect of the
Transactions. 
 ARTICLE 6 

ADDITIONAL COVENANTS 

6.1    No Integration. The Company agrees that it will not and will cause its Affiliates not to sell, offer for
sale or solicit offers to buy any security of the Company of any class if, as a result of the doctrine of “integration” referred to in Rule 502 under the Securities Act, such sale, offer for sale or solicitation of an offer to buy
would render invalid (for the purpose of the sale of the Securities by the Company to the Purchasers) the exemption from the registration requirements of the Securities Act provided by Section 4(a)(2) thereof or otherwise. 

  
 16 

 6.2    Transfer Agent. The Company shall engage and maintain, at
its expense, a registrar and transfer agent for the Securities and the Class A Common Stock. 
 6.3    Available
Securities of Class A Common Stock. The Company will reserve and keep available at all times, free of preemptive or other similar rights or contractual encumbrances (except for any preemptive rights held by the Purchasers),
the full number of Underlying Securities. 
 6.4    No Restricted Resales. During the period from the Closing
Date until one year after the Closing Date, the Company will not, and will not permit any of its affiliates (as defined in Rule 144 under the Securities Act) that it controls at such time, to resell any of the Securities which constitute
“restricted securities” under Rule 144 that have been reacquired by any of them, except for Securities purchased by the Company or any such affiliates and resold in a transaction registered under the Securities Act. 

6.5    Regulatory Filings. The Company and the Purchasers shall, as promptly as reasonably practicable after a good
faith request from the Purchasers (which, for the avoidance of doubt, shall include an explanation by any Purchaser of its determination that a filing subject to this Section 6.5 is required), (i) make or cause their Affiliates to make any
required filings with the U.S. Federal Trade Commission (“FTC”), Department of Justice (“DOJ”) and any other governmental entity required under the HSR Act with respect to the potential issuance of the
Underlying Securities in a conversion and any sale of such Underlying Securities following a conversion (each, a “HSR Event”), (ii) make or cause their Affiliates to make any filing or notice required under any other antitrust
or competition law or other law or regulation agreed by the parties to be applicable to a HSR Event, (iii) provide any supplemental information requested in connection with the HSR Act or such other antitrust, competition or other laws or
regulations as promptly as practicable after such request is made; provided the Purchasers shall not be obligated to make any disclosures in violation of their obligations to their investors; and (iv) use their reasonable best efforts to
obtain, or cause to be obtained, all consents, authorizations, orders and approvals from all governmental entities that may be or become necessary in connection with a HSR Event; provided that nothing in this Section 6.5 shall
require, or be construed to require, the Purchasers or any of their Affiliates to agree to (x) sell, hold, divest, discontinue or limit, before or after the Closing Date, any assets, businesses or interests of the Purchasers or any of their
Affiliates; (y) any material conditions relating to, or changes or restrictions in, the operations of any such assets, businesses or interests; or (z) any material modification or waiver of the terms and conditions of this Agreement;
provided, further, that the Company and the Purchasers shall take the foregoing actions to cause the clearance under the HSR Act or such other applicable law to be re-obtained or extended, as
applicable, without restriction until all of the Securities have been converted into the Underlying Securities. The Company and each Purchaser shall, and shall cause its Affiliates to, furnish to the other such information and assistance as the
other may reasonably request in connection with its preparation of any filing or submission which is necessary under the HSR Act or such other applicable law or which is otherwise requested by the FTC or DOJ or other governmental entity and shall
keep each other apprised of the status of any communications with, and inquiries or requests for additional information from, the FTC and DOJ or other governmental entity. Each Purchaser shall pay for all filing fees of filings for the benefit of
such Purchaser incurred pursuant to this Section 6.5. 
 6.6     Board Rights. 

6.6.1 Each of GHEP VII Aggregator, L.P. (“GHP”) and CBEP Investments, LLC (“CB”),
individually and not jointly, agrees with the Company (and only with the Company), and the Company agrees with each of the GHP and CB, individually and not jointly, that, for so long as (a) GHP, together with its Affiliates, continues to own at
least fifty percent (50%) of the Securities (or after a conversion, the applicable Underlying Securities) issued pursuant to this Agreement to GHP, then GHP shall 

  
 17 

 
have the right to designate one person for election to the Company’s Board of Directors (a “GHP Board Designee”), and (b) CB, together with its Affiliates, continues to own
at least fifty percent (50%) of the Securities (or after a conversion, the applicable Underlying Securities) issued pursuant to this Agreement to CB, then CB shall have the right to designate one person for election to the Company’s Board of
Directors (a “CB Board Designee” and each of the GHP Board Designee and the CB Board Designee, a “Board Designee”); provided, however, that in each case such Board Designee shall (x) be qualified and
suitable to serve as a member of the Board of Directors under applicable legal and regulatory requirements, and (y) unless waived by the Board of Directors, meet the independence requirements of the NYSE or the applicable requirements of any other
stock exchange, with respect to the Company; provided that in each case such board seat, covenants and agreements contemplated by this Agreement (and payments made pursuant hereto) and ownership of any Securities by the CB, GHP or any of
their Affiliates shall not be considered for the purpose of the application of such independence requirements; and provided, further, that in each case any proposed Board Designee shall make himself or herself reasonably available for
interviews, consent to such reference and background checks or other investigations and provide such information (including information necessary to determine the nominee’s independence status under various requirements and institutional
investor guidelines as well as information necessary to determine any disclosure obligations of the Company) as the Board of Directors or its Nominating and Governance Committee may reasonably request. At least one of the two Board Designees shall
be entitled to sit on each committee of the Board of Directors, to the extent such appointment would not cause the Company to be in non-compliance with any applicable listing standards of the NYSE or other applicable exchange. For the avoidance of
doubt, (a) the GHP and CB ownership thresholds set forth above in this Section 6.6.1 shall only include the Securities (or after a conversion, the applicable Underlying Securities) and in no event shall include any other securities currently owned
or subsequently acquired by GHP, CB or their respective Affiliates and (b) if at any time either GHP and its Affiliates or CB and its Affiliates do not satisfy the ownership thresholds set forth above in this Section 6.6.1, the rights set forth in
this Section 6.6.1 with respect to GHP or CB, as applicable, shall cease and the acquisition of additional securities of the Company shall not impact or otherwise reinstate any such rights. If CB or GHP designates a Board Designee in accordance with
Section 6.6.1, then the Company shall nominate such Board Designee for election as a director or for re-election as a director. In the event that the CB Board Designee ceases to be a member of the Board of Directors, CB may select another
person as a nominee for Board Designee to fill the vacancy created thereby and, subject to the requirements in Section 6.6.1, such nominee shall become the CB Board Designee and shall be appointed to fill such vacancy. In the event that any GHP
Board Designee ceases to be a member of the Board of Directors, GHP may select another person as a nominee for GHP Board Designee to fill the vacancy created thereby and, subject to the requirements in Section 6.6.1, such nominee shall become such
GHP Board Designee and shall be appointed to fill such vacancy. 
 6.6.2    At any time that a CB Board
Designee or GHP Board Designee, as applicable has been elected as a member of the Board of Directors in accordance with this Section 6.6, the Company agrees to have in effect, at the expense of the Company, a director and officer liability
insurance policy for the benefit of the Company and such representative to the same extent as the Company provides such insurance covering the other members of the Board of Directors. Promptly upon the receipt of an invoice therefor, the Company
shall reimburse the applicable Board Designee (or the employer of such Board Designee, if applicable) for the reasonable, documented out-of-pocket costs and expenses of
such Board Designee in attending meetings of the Board of Directors and/or any committee thereof; provided that any such reimbursement pursuant to this Section 6.6.2 shall be subject to the Company’s travel and expense policies and in
conformity with the documented out-of-pocket costs and expense of other members of the Board of Directors. 

  
 18 

 6.6.3    Each of CB and GHP shall cause its Board
Designee to comply with all Company policies, procedures, processes, codes, rules, standards and guidelines applicable to members of the Board of Directors, including the Company’s standards of conduct, securities trading policies, director
confidentiality policies and corporate governance guidelines, and preserve the confidentiality of Company business and information, including discussions or matters considered in meetings of the Board of Directors or its committees. 

6.7     DTC. If the Securities are not eligible to be delivered through DTC, the Company shall use its best efforts
to make the Securities eligible to trade through DTC as soon as practicable following the date hereof. 
 6.8    Debt
Incurrence. 
 6.8.1    The Company agrees that, for so long as GHP and CB, together with their
respective Affiliates, collectively own at least fifty percent (50%) of the Securities issued pursuant to this Agreement to GHP and CB, the Company and its subsidiaries shall not issue any Equity-Linked Securities unless such Equity-Linked Security
(i) does not rank senior to the Securities with respect to rights to repayment of principal or payment of interest or premium, including as a result of upstream guarantees (it being understood that a guarantee by the Guarantor of such
Equity-Linked Security that ranks pari passu with the guarantee by the Guarantor of the Securities will be permissible), pledges of securities or intangibles as collateral, or security interests on assets or properties, unless such
securities, intangibles, assets or properties also secure the Securities or the Guarantor’s guarantee of the Securities, and (ii) does not have a stated maturity prior to, and has no scheduled amortization or principal payments or require
any mandatory redemptions or payments of principal (other than customary payments upon a change of control or fundamental change) prior to, the date that is at least 180 days after the Maturity Date (as such term is defined in the Indenture) of the
Securities; provided that in the event that GHP and CB, together with their respective Affiliates, collectively cease to own fifty percent (50%) or more of the Securities issued pursuant to this Agreement to GHP and CB, the provisions of this
Section 6.8 shall cease to apply. “Equity-Linked Securities” means (a) a debt security issued by the Company which is convertible into equity interests of the Company or its subsidiaries (and cash in lieu of fractional shares)
and/or cash (in an amount determined by reference to the price of such equity interests) or (b) a debt security that is issued in specific conjunction with (e.g., as a collective unit or stapled, irrespective of whether such instruments are
separable by the holders thereof) call options, warrants or rights to purchase (or substantially equivalent derivative transactions) that are exercisable for equity interests of the Company or its subsidiaries and/or cash (in an amount determined by
reference to the price of such equity interests), in each case including, without limitation, any negative pledges, guarantees, debts, liens or leases entered into in connection therewith. For the avoidance of doubt, (a) the GHP and CB
ownership thresholds set forth above in this Section 6.8 shall only include the Securities (or after a conversion, the applicable Underlying Securities) and in no event shall include any other securities currently owned or subsequently acquired
by GHP, CB or their Affiliates and (b) if at any time GHP, CB and their Affiliates do not satisfy the ownership thresholds set forth above in this Section 6.8, the rights set forth in this Section 6.8 with respect to GHP and CB shall
cease and the acquisition of additional securities of the Company shall not impact or otherwise reinstate any such rights. 

  
 19 

 6.8.2    Each of GHP or CB, as applicable, shall
promptly notify the Company in writing if it ceases to own 50% of the Securities (and Underlying Securities, if any) issued pursuant to this Agreement; provided that the obligation to notify the Company shall terminate once notice is delivered to
the Company that the ownership level no longer is applicable. 
 6.8.3    Upon request, each of GHP and
CB shall promptly provide the Company in writing with details of its ownership of Securities (and Underlying Securities, if any), as well as any other information as may be reasonably requested by the Company in order to confirm the each of
GHP’s and CB’s rights pursuant to this Agreement. 
 6.9    Indemnification. 

6.9.1    Each Purchaser, its Affiliates and their respective officers, directors, members, employees,
managers, general partners and agents (each, an “Indemnitee”) shall be indemnified to the fullest extent permitted by law by the Company for any and all Losses to which such Indemnitees may become subject as a result of, arising in
connection with, or relating to any actual or threatened claim, suit, action, arbitration, cause of action, complaint, allegation, criminal prosecution, investigation, inquiry, demand letter, or proceeding, whether at law or at equity, direct or
derivative and whether public or private, before or by any Governmental Entity, any arbitrator or other tribunal (each, an “Action”) by any third party (including, without limitation, any stockholder of the Company or any regulator
and regardless of whether such Action is against an Indemnitee) related to any act or omission by any member of the Board of Directors or the management of the Company related to (x) approving the entry into this Agreement or the Indenture or
the issuance of the Securities, or (y) entering into this Agreement or the Indenture or issuing the Securities; provided, that the Company will not be liable to indemnify any Indemnitee for any such Losses to the extent that such Losses
(i) have resulted from a Purchaser’s breach of this Agreement or (iii) have resulted from an Indemnitee’s willful misconduct or fraud in connection with the Transactions. The Parties agree, for the avoidance of doubt, that this
Section 6.9 shall not apply to any matter for which indemnification is otherwise provided for in the Registration Rights Agreement. 

6.9.2    Each Indemnitee shall give the Company prompt written notice (an “Indemnification
Notice”) of any Action it has actual knowledge of that might give rise to losses for which an Indemnitee would reasonably be likely to be entitled to indemnification under this Section 6.9, which notice shall set forth a description of
those elements of such Action of which such Indemnitee has knowledge and promptly deliver to the Company any complaints such Action or other documents provided to such Indemnitee in connection with; provided, that any delay or failure to give such
Indemnification Notice shall not affect the indemnification obligations of the Company hereunder except to the extent the Company is materially prejudiced by such delay or failure. 

6.9.3    The Company shall have the right, exercisable by written notice to the applicable Indemnitee(s)
within thirty (30) days of receipt of the applicable Indemnification Notice, to select counsel to defend and control the defense of any third party claim set forth in such Indemnification Notice and the Company shall pay all fees and expenses
of such counsel; provided, that the Company shall not be entitled to so select counsel or control the defense of any claim to the extent that (i) such claim seeks primarily non-monetary or injunctive
relief against the Indemnitee or alleges any violation of criminal law, (ii) the Company does not, subsequent to its assumption of such defense in accordance with this clause (c), conduct the defense of such claim in good faith, (iii) any
of the Indemnitees reasonably determines upon the advice of counsel that representation of all such Indemnitees by the same counsel would be prohibited by applicable 

  
 20 

 
codes of professional conduct, or (iv) in the event that, based on the reasonable advice of counsel for the applicable Indemnitee(s), there are one or more material defenses available to the
applicable Indemnitee(s) that are not available to other defendants. If the Company does not assume the defense of any third party claim in accordance with this clause (c), the applicable Indemnitee(s) may continue to defend such claim at the sole
cost of the Company and the Company may still participate in, but not control, the defense of such third party claim at the Company’s sole cost and expense. In no event shall the Company, in connection with any Action or separate but
substantially similar Actions arising out of the same general allegations, be liable for the fees and expenses of more than one separate firm of attorneys at any time for all Indemnitees chosen by the Purchasers, and one separate firm of local
counsel, in addition to regular counsel, to the extent required in order to effectively defend the Action. 

6.9.4    No Indemnitee shall consent to a settlement of, or the entry of any judgment arising from, any
claim for which such Indemnitee is entitled to indemnification pursuant to this Section 6.9, without the prior written consent of the Company (such consent not to be unreasonably withheld, conditioned or delayed). Except with the prior written
consent of the applicable Indemnitee(s), the Company, in the defense of any claim for which such Indemnitee is entitled to indemnification pursuant to this Section 6.9, shall not consent to the entry of any judgment or enter into any settlement
that (i) provides for injunctive or other nonmonetary relief affecting any Indemnitee, (ii) does not include as an unconditional term thereof the giving by each claimant or plaintiff to each such Indemnitee(s) of an unconditional release
of such Indemnitee(s) from all liability with respect to such Action or (iii) imposes any material burden on Indemnitee not fully indemnified hereunder. In any such third party claim where the Company has assumed control of the defense thereof
pursuant to clause (c), the Company shall keep the applicable Indemnitee(s) reasonably informed as to the status of such claim at all stages thereof (including all settlement negotiations and offers), promptly submit to such Indemnitee
(s) copies of all pleadings, responsive pleadings, motions and other similar legal documents and paper received or filed in connection therewith, permit such Indemnitee(s) and their respective counsels to confer with the Company and its counsel
with respect to the conduct of the defense thereof, and permit such Indemnitee(s) and their respective counsel(s) a reasonable opportunity to review all legal papers to be submitted prior to their submission; provided that the Company shall not be
obligated to provide materials, documents or information the disclosure of which would reasonably be likely to jeopardize the attorney-client privilege between the Company and its counsel or violate applicable law. Nothing in this Section 6.9.4
shall in any way limit, affect or otherwise modify an Indemnitee’s rights to indemnification under the Company’s certificate of incorporation, by-laws, any applicable policies of the Company or its
subsidiaries or any other agreement between the Indemnitee and the Company or its subsidiaries. 
 6.10    Compliance
with NYSE Rule 312.03(b). 
 6.10.1    If by 12:00 AM EDT on April 10, 2020, the request
by the NYSE under Section 19(b)(1) of the Exchange Act for an immediately effective waiver through June 20, 2020 of the shareholder approval requirements set forth in Section 312.03(b) of the NYSE Listed Company Manual (“Rule
312.03(b)”), as published by the NYSE on Friday, April 3, 2020 (the “Waiver Request”), has not been approved by the SEC and the requested waiver is not effective, the Company shall, to the extent that Rule 312.03(b)
requires stockholder approval of the sale of the Securities to the Purchasers, file as soon as reasonably practicable with the SEC a written information statement of the type contemplated by Rule 14c-2 of the
Exchange Act containing the information specified in Schedule 14C under the Exchange Act concerning the transactions 

  
 21 

 
contemplated by this agreement (as amended or supplemented from time to time, the “Information Statement”) and shall use commercially reasonable efforts to have the Information
Statement cleared by the SEC promptly. Each of the Company and the Purchasers shall furnish all information concerning such party to the other as may be reasonably requested in connection with the preparation, filing and distribution of the
Information Statement. The Company shall promptly notify the Purchasers upon the receipt of any comments from the SEC or any request from the SEC for amendments or supplements to the Information Statement and shall provide the Purchasers with copies
of all correspondence between it and its representatives, on the one hand, and the SEC, on the other hand. The Company shall use commercially reasonable best efforts to respond as promptly as practicable to any comments of the SEC with respect to
the Information Statement. Notwithstanding the foregoing, prior to filing or mailing the Information Statement (or any amendment or supplement thereto) or responding to any comments of the SEC with respect thereto, the Company (i) shall provide
the Purchasers and their respective counsel a reasonable opportunity to review and comment on such document or response and (ii) shall include in the Information Statement all changes reasonably requested by the Purchasers and their respective
counsel. 
 6.10.2    The Company agrees that the Information Statement will comply as to form in all
material respects with the requirements of the Exchange Act and use commercially reasonable best efforts to ensure that none of the information included or incorporated by reference in the Information Statement will, at the date the Information
Statement is filed with the SEC or mailed to the stockholders of the Company, or at the time of any amendment or supplement thereof, contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or
necessary in order to make the statements therein, in light of the circumstances under which they are made, not misleading, except that no covenant is made by the Company with respect to statements made in the Information Statement based on
information supplied in writing by or on behalf of the Purchasers specifically for inclusion or incorporation by reference therein. If, at any time prior to the date that is twenty (20) days after the Information Statement is first mailed to
the Company’s stockholders, any information relating to the Company, the Purchasers or any of their respective Affiliates, officers or directors should be discovered by the Company or the Purchasers which is required to be set forth in an
amendment or supplement to the Information Statement, so that the Information Statement shall not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary in order to make the
statements therein, in light of the circumstances under which they are made, not misleading, the party that discovers such information shall promptly notify the other parties hereto, and an appropriate amendment or supplement describing such
information shall be filed by the Company as soon as practicable with the SEC and, to the extent required by applicable law, disseminated by the Company as soon as practicable to the stockholders of the Company. 

6.10.3    The Company shall use commercially reasonable best efforts to cause the Information Statement to
be (i) filed with the SEC in definitive form as contemplated by Rule 14c-2 under the Exchange Act and (ii) mailed to the stockholders of the Company, in each case as promptly as practicable after,
and in any event within two (2) days after, the latest of (A) confirmation from the SEC that it has no further comments on the Information Statement, (ii) confirmation from the SEC that the Information Statement is otherwise not to be
reviewed or (iii) expiration of the ten (10) day period after filing in the event the SEC does not review the Information Statement. 

  
 22 

6.11    Section 16 Matters. If the Company becomes a party to a
consolidation, merger or other similar transaction that may result in a Purchaser, or its Affiliates and/or its Board Designee being deemed to have made a disposition of equity securities of the Company or derivatives thereof for purposes of
Section 16 of the Exchange Act, and if a Board Designee is serving on the Board of Directors at such time or has served on the Board of Directors during the preceding six months (i) the Board of Directors
will pre-approve such disposition of equity securities of the Company or derivatives thereof for the express purpose of exempting such Purchaser’s, its Affiliates’ and its Board
Designee’s interests (to the extent the Purchaser or its Affiliates may be deemed to be “directors by deputization”) in such transaction from Section 16(b) of the Exchange Act pursuant to
Rule 16b-3 thereunder and (ii) if the transaction involves (A) a merger or consolidation to which the Company is a party and the Company Class A Common Stock is, in whole or in part,
converted into or exchanged for equity securities of a different issuer, (B) a potential acquisition by a Purchaser, such Purchaser’s Affiliates, and/or such Purchaser’s Board Designee of equity securities of such other issuer or
derivatives thereof and (C) an Affiliate or other designee of the Purchaser or its Affiliates will serve on the board of directors (or its equivalent) of such other issuer, then if the Company requires that the other issuer pre-approve any acquisition of equity securities or derivatives thereof for the express purpose of exempting the interests of any director or officer of the Company or any of its subsidiaries in
such transactions from Section 16(b) of the Exchange Act pursuant to Rule 16b-3 thereunder, the Company shall require that such other
issuer pre-approve any such acquisitions of equity securities or derivatives thereof for the express purpose of exempting the interests of such Purchaser’s, its Affiliates’ and its Board
Designee’s (for the Purchaser and/or its Affiliates, to the extent such persons may be deemed to be “directors by deputization” of such other issuer) in such transactions from Section 16(b) of the Exchange Act pursuant to Rule 16b-3 thereunder. 
 6.12    Efforts. Subject to the terms and
conditions of this Agreement and applicable law, each of the Parties hereto shall use its reasonable best efforts to take, or cause to be taken, all actions, and to do, or cause to be done, all things reasonably necessary, proper or advisable under
applicable laws and regulations or otherwise to consummate and make effective the transactions contemplated by this Agreement, as soon as practicable, including such actions or things as any other Party hereto may reasonably request in order to
cause any of the conditions to such other Party’s obligation to consummate the Transactions. 
 ARTICLE 7 

TERMINATION 

7.1    Termination. This Agreement may be terminated at any time prior to the Closing, only in the following
manner: 
 (a)    By mutual written agreement of the Company and the Purchasers; or 

(b)    By the Company upon written notice to the Purchasers or, solely, with respect to the sale of the
Securities to be purchased by it, by any Purchaser upon written notice to the Company if the Closing shall not have occurred sixty (60) days after the signing of this agreement; provided, that such date may be extended by written
notice by the Company or (solely with respect to the sale of the Securities to be purchased by it) any Purchaser, as the case may be, for a period not to exceed an additional thirty 

  
 23 

 
(30) days, if the reason for such extension is the failure to satisfy one or more conditions to the applicable Closing and such Purchaser or the Company, as the case may be, reasonably
believes that condition(s) to such Closing can be satisfied by the new termination deadline. Notwithstanding the foregoing, termination under this provision shall not be available to the requesting Party if the applicable Closing has not
occurred solely by reason of any breach by such requesting Party under this Agreement. 
 7.2    Effect of
Termination. In the event of any termination of this Agreement pursuant to Section 7.1, upon the effectiveness of such termination, this Agreement shall become null and void and have no further effect, with no liability on the part of the
Company or the Purchasers (or the applicable Purchaser, as the case may be), or their respective Affiliates, with respect to this Agreement, except (a) for the terms of this Section 7.2 and Article 8 , which shall survive the termination
of this Agreement, and (b) that nothing in this Section 7.2 shall relieve any party hereto from liability or damages incurred or suffered by any other party resulting from any intentional (x) breach of any representation or warranty
of such first party or (y) failure of such first party to perform a covenant thereof. As used in the foregoing sentence, “intentional” shall mean an act or omission by such party which such party actually knew, or reasonably should
have known, would constitute a breach of this Agreement by such party. 
 ARTICLE 8 

MISCELLANEOUS 

8.1    Notices. Any notice, statement, demand, claim, offer or other written instrument required or permitted to be
given pursuant to this Agreement shall be in writing signed by the Party giving such notice and shall be sent by electronic mail, facsimile, hand messenger delivery, overnight courier service, or certified mail (receipt requested) to the other Party
at the address set forth below: 
  

	 	(a)	 If to the Company, to it at: 

Wayfair Inc. 
 4 Copley Place,
7th Floor 
 Boston, Massachusetts 02116 

with a copy to: 
 Goodwin
Procter LLP 
 100 Northern Avenue, Boston, Massachusetts 02210 

Attention: Michael Minahan 
 If
to the Guarantor, to it at: 
 Wayfair LLC 

4 Copley Place, 7th Floor 

Boston, Massachusetts 02116with a copy to: 

  
 24 

 Goodwin Procter LLP 

100 Northern Avenue, Boston, Massachusetts 02210 

Attention: Michael Minahan 
  

	 	(b)	 If to the Purchasers: 

To GHEP VII Aggregator, L.P., at: 

c/o Great Hill Partners 
 200
Clarendon St, 29th floor 
 Boston, MA 02116 

Attention: Michael Kumin and Peter Garran 

Email: mkumin@greathillpartners.com and 

            pgarran@greathillpartners.com 

To CBEP Investments, LLC, at: 

CBEP Investments, LLC 
 200
Clarendon Street 
 54th Floor 

Boston, MA 02116 

Attention: Michael W. Choe, Joshua N. Beer 

Email: mchoe@charlesbank.com;jbeer@charlesbank.com 

To The Spruce House Partnership LLC, at: 

c/o Spruce House Management LLC 

435 Hudson St #802 
 New York,
NY 10014 
 Attention: Thomas Walker, Chief Financial Officer 

Email: tom@sprucehousecapital.com 

in each case, with a copy to: 

Sidley Austin LLP 
 60 State
Street 
 Boston, MA 02109 

Attention: Robert Mandell, Michael Schiavone & Alexander Temel. 

Email: rmandell@sidley.com; mschiavone@sidley.com; and atemel@sidley.com 

and 
 Ropes & Gray LLP

 Prudential Tower 
 800
Boylston Street 
 Boston, MA 02199 

Attention: Thomas Danielski 

Email: thomas.danielski@ropesgray.com 

  
 25 

 Each Party shall have the right to change the place to which notices shall be sent or
delivered or to specify one additional address to which copies of notices may be sent, in either case by similar notice sent or delivered in like manner to the other Party. Any notice delivered electronically shall only be deemed to be duly given
pursuant to this Agreement if such notice is also be sent not later than the following Business Day via overnight courier service or next day certified mail (receipt requested) to the applicable address specified in the preceding sentence. 

8.2    Survival. All covenants and agreements contained herein, other than those which by their terms apply
in whole or in part at or after the Closing (which shall survive the Closing), shall terminate as of the Closing (or the earlier termination of this Agreement), provided nothing herein shall relieve any party of liability for any breach of such
covenant or agreement before such termination. Except for the representations and warranties contained in Sections 4.2, 4.4, 4.6, 4.7, 4.9, 4.10 and 4.13 and the representations and warranties contained in Article 5, which shall survive the Closing
indefinitely, the representations and warranties made herein shall survive for six (6) months following the Closing Date and shall then expire; provided that nothing herein shall relieve any party of liability for any inaccuracy or breach of
such representation or warranty to the extent that any good faith allegation of such inaccuracy or breach is made in writing prior to such expiration. 

8.3    Entire Agreement; Amendments. This Agreement and any ancillary agreements among the Parties delivered in
connection herewith constitutes the entire agreement and supersedes all prior agreements and understandings, both written and oral, of the Parties with respect to the subject matter hereof. Any oral representations or modifications concerning this
instrument shall be of no force or effect unless contained in a subsequent written modification signed by the party to be charged. This Agreement may be amended, waived or modified only by a written instrument executed by the Parties. 

8.4    Successors and Assigns. This Agreement shall be binding upon, and shall inure to the benefit of, and shall
be enforceable by, the Parties and their respective successors and permitted assigns. Neither this Agreement, nor any right hereunder, may be assigned by any Party without the prior written consent of the other Party; except that consent shall not
be required for an assignment by Purchaser to any Affiliate of Purchaser, provided that Purchaser shall provide written notice to the Company of any such assignment. 

8.5    Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE
STATE OF NEW YORK APPLICABLE TO AGREEMENTS MADE AND TO BE PERFORMED IN SUCH STATE WITHOUT REGARD TO CONFLICTS OF LAW PRINCIPLES THEREOF THAT WOULD REQUIRE THE APPLICATION OF THE LAWS OF ANOTHER JURISDICTION. The Company agrees that any suit or
proceeding arising in respect of this Agreement engagement will be tried exclusively in the U.S. District Court for the Southern District of New York or, if that court does not have subject matter jurisdiction, in any state court located in The City
and County of New York and the Company agrees to submit to the jurisdiction of, and to venue in, such courts. 

8.6    Jury Trial. The Company and each of the Purchasers hereby irrevocably waives, to the fullest extent
permitted by applicable law, any and all right to trial by jury in any legal proceeding arising out of or relating to this Agreement or the transactions contemplated hereby. 

8.7    Expenses, Etc. The Purchasers shall not bear any of the expenses incurred by the Company in connection with
this Agreement and the transactions contemplated hereby. The Company shall bear all of the Purchaser’s expenses incurred in connection with this Agreement and the transactions contemplated hereby. 

  
 26 

 8.8    Captions. The captions contained in this Agreement are for
convenience and reference only and in no way define, describe, extend or limit the scope or intent of this Agreement or the intent of any provision contained herein. 

8.9    Severability. The invalidity or unenforceability of any section, paragraph or provision of this Agreement
shall not affect the validity or enforceability of any other section, paragraph or provision hereof. If any section, paragraph or provision of this Agreement is for any reason determined to be invalid or unenforceable, there shall be deemed to be
made such minor changes (and only such minor changes) as are necessary to make it valid and enforceable. 

8.10    Counterparts. This Agreement may be executed in one or more counterparts, including by facsimile,
electronic or PDF signature, each of which shall constitute an original but all of which, taken together, shall constitute but one agreement. 

8.11    No Waiver. Any failure of a Party to enforce any of the provisions of this Agreement or to require
compliance with any of its terms at any time during the pendency of this Agreement shall in no way affect the validity of this Agreement, or any part hereof, and shall not be deemed a waiver of the right of such Party thereafter to enforce any and
each such provision. 
 8.12    Damages Waiver; Specific Performance. No Party shall be liable for any
special, punitive, exemplary, indirect or incidental damages or any other damages that were not reasonably foreseeable. The parties agree that irreparable damage would occur in the event that any of the provisions of this Agreement were not
performed in accordance with their specific terms or were otherwise breached. Accordingly, each party agrees that in the event of any breach or threatened breach by any other party of any covenant or obligation contained in this Agreement, the non-breaching party shall be entitled (in addition to any other remedy that may be available to it, whether in law or equity) to obtain (i) a decree or order of specific performance to enforce the observance
and performance of such covenant or obligation, and (ii) an injunction restraining such breach or threatened breach. Each of the parties agrees that it will not oppose the granting of an injunction, specific performance and other equitable
relief on the basis that any other party has an adequate remedy at law or that any award of specific performance is not an appropriate remedy for any reason at law or in equity. Any party seeking an injunction or injunctions to prevent breaches of
this Agreement and to enforce specifically the terms and provisions of this Agreement shall not be required to provide any bond or other security in connection with any such order or injunction 

8.13    Reliance by Goldman Sachs. Goldman Sachs, acting as financial advisor to the Company may rely on
each representation and warranty of the Company in this Agreement and on each representation and warranty of the Purchasers made under Sections 5.1.3, 5.1.5 and 5.1.6 hereof, in each case with the same force and effect as if such representation or
warranty were made directly to Goldman Sachs. Goldman Sachs will be a third-party beneficiary of this Agreement to the extent provided in this Section 8.13. 

  
 27 

 IN WITNESS WHEREOF, the Purchasers, the Company and the Guarantor have caused this Agreement
to be duly executed and delivered. 
  

			
	WAYFAIR INC.
		
	By:	 	 /s/ Michael Fleisher

	Name:	 	Michael Fleisher
	Title:	 	Chief Financial Officer
	
	WAYFAIR LLC
		
	By:	 	 /s/ Michael Fleisher

	Name:	 	Michael Fleisher
	Title:	 	Chief Financial Officer

  
 [Purchase Agreement] 

 IN WITNESS WHEREOF, the Purchasers, the Company and the Guarantor have caused this Agreement
to be duly executed and delivered. 
  

			
	PURCHASERS:
	
	GHEP VII AGGREGATOR, L.P.
		
	By:	 	 /s/ Michael Kumin

	Name:	 	Michael Kumin
	Title:	 	Authorized Signatory

  
 [Purchase Agreement] 

 IN WITNESS WHEREOF, the Purchasers, the Company and the Guarantor have caused this Agreement
to be duly executed and delivered. 
  

			
	CBEP INVESTMENTS, LLC
		
	By:	 	 /s/ Michael Choe

	Name:	 	Michael Choe
	Title:	 	Managing Director and Chief Executive Officer

  
 [Purchase Agreement] 

 IN WITNESS WHEREOF, the Purchasers, the Company and the Guarantor have caused this Agreement
to be duly executed and delivered. 
  

			
	THE SPRUCE HOUSE PARTNERSHIP LLC
		
	By:	 	 /s/ Benjamin Stein

	Name:	 	Benjamin Stein
	Title:	 	Managing Partner

  
 [Purchase Agreement] 

 SCHEDULE I 

PURCHASERS 
  

									
	 Name of Purchaser
	  	Aggregate Principal
Amount of Securities
to be Purchased	 	  	Applicable
Purchase Price	 
	 GHEP VII Aggregator, L.P., a Delaware limited partnership
	  	$	250,000,000.00	 	  	$	250,000,000.00	 
	 CBEP Investments, LLC, a Delaware limited liability company
	  	$	250,000,000.00	 	  	$	250,000,000.00	 
	 The Spruce House Partnership LLC, a Delaware limited liability company
	  	$	35,000,000.00	 	  	$	35,000,000.00	 

 EXHIBIT A 

FORM OF INDENTURE 

 EXHIBIT B 

FORM OF REGISTRATION RIGHTS AGREEMENT 

 EXHIBIT C 

FORM OF OPINION OF GOODWIN PROCTER LLPEX-10.2

 Exhibit 10.2 

REGISTRATION RIGHTS AGREEMENT 

This Registration Rights Agreement (this “Agreement”) is made and entered into this     th day of April,
2020, by and among Wayfair Inc., a Delaware corporation (the “Company”), and GHEP VII Aggregator, L.P. (“GHP”), CBEP Investments, LLC (“CB”) and The Spruce House Partnership LLC
(“Spruce”, and together with GHP and CB, the “Purchasers”). 
 This Agreement is made pursuant to the
Securities Purchase Agreement (the “Purchase Agreement”), dated April 6, 2020, among the Company, Wayfair LLC and the Purchasers, which provides for the sale by the Company to the Purchasers of up to $535,000,000 original
aggregate principal amount of the Company’s 2.5% Accreting Convertible Senior Notes due 2025 (the “Notes”). In order to induce the Purchasers to enter into the Purchase Agreement, the Company has agreed to provide to the
Purchasers and their direct and indirect transferees the registration rights set forth in this Agreement. The execution of this Agreement is a condition to the closing under the Purchase Agreement. 

In consideration of the foregoing, the parties hereto agree as follows: 

1.    Definitions. 

As used in this Agreement, the following capitalized defined terms shall have the following meanings: 

“1933 Act” shall mean the Securities Act of 1933, as amended. 

“1934 Act” shall mean the Securities Exchange Act of l934, as amended. 

“1939 Act” shall mean the Trust Indenture Act of 1939, as amended. 

“Closing Date” shall mean the Closing Date as defined in the Purchase Agreement. 

“Common Stock” shall mean any shares of Class A common stock, par value $0.001 per share, of the Company and any other
shares of common stock as may constitute “Common Stock” for purposes of the Indenture. 
 “Company” shall have
the meaning set forth in the preamble and shall also include the Company’s successors. 
 “Depositary” shall mean The
Depository Trust Company, or any other depositary appointed by the Company, provided, however, that such depositary must have an address in the Borough of Manhattan, in The City of New York. 

“Holder” shall mean the Purchasers, for so long as they own any Registrable Securities, and their successors, assigns and
direct and indirect transferees who become owners, beneficial or otherwise, of Registrable Securities under the Indenture. 

“Indenture” means the Indenture pursuant to which the Notes will be issued. 

“Other Registration” shall mean a registration effected pursuant to Section 2.2. 

“Other Registration Statement” shall mean a registration statement related to a registration pursuant to Section 2.2.

 “Person” shall mean an individual, partnership (general or limited), corporation, limited liability company, trust,
unincorporated organization or other entity, or a government or agency or political subdivision thereof. 
 “Pro Rata Share”
shall mean number of Registrable Shares eligible for inclusion in an Other Registration Statement pursuant to Section 2.2. 

 “Prospectus” shall mean the prospectus relating to the shares of Common
Stock included in a Registration Statement, including any preliminary prospectus, and any such prospectus as amended or supplemented by any prospectus supplement, including any such prospectus supplement with respect to the terms of the offering of
any portion of the Registrable Securities covered by a Registration Statement, and by all other amendments and supplements to a prospectus, including post-effective amendments, and in each case including all materials incorporated by reference
therein. 
 “Registrable Securities” shall mean all or any shares of Common Stock into which the Notes are convertible;
provided, however, that any such shares of Common Stock shall cease to be (and shall never again become under this Agreement) Registrable Securities when (i) a Registration Statement with respect to such shares shall have become
effective under the 1933 Act and such shares shall have been sold or otherwise transferred or disposed of pursuant to such Registration Statement, (ii) such shares have been sold to the public pursuant to Rule 144 or such shares (including
if the Notes were converted into shares on such date) may be sold or transferred without any restriction or limitation pursuant to Rule l44(b) (or any similar provision then in force, but not Rule 144A) under the 1933 Act, or (iii) such
shares shall have ceased to be outstanding. 
 “Registration Expenses” shall mean any and all expenses incident to
performance of or compliance by the Company with this Agreement, whether or not a Registration Statement becomes effective, including without limitation:(i) all SEC, stock exchange or Financial Industry Regulatory Authority (“FINRA”)
registration and filing fees, including, if applicable, the fees and expenses of any “qualified independent underwriter” (and its counsel) that is required to be retained by any holder of Registrable Securities in accordance with the rules
and regulations of FINRA, (ii) all fees and expenses incurred by the Company in connection with compliance with state securities or blue sky laws and compliance with the rules of FINRA (including reasonable fees and disbursements of counsel for
any underwriters or Holders in connection with blue sky qualification of any of the Registrable Securities and any filings with FINRA), (iii) all expenses of the Company in preparing or assisting in preparing, word processing, printing and
distributing any Registration Statement, any Prospectus, any amendments or supplements thereto, any securities sales agreements and other documents relating to the performance of and compliance with this Agreement, (iv) all fees and expenses
incurred by the Company in connection with the listing, if any, of any of the Registrable Securities on any securities exchange or exchanges, (v) all rating agency fees incurred by the Company, if any, (vi) the fees and disbursements of
counsel for the Company and of the independent public accountants of the Company, including the expenses of any special audits or “comfort” letters required by or incident to such performance and compliance, (vii) the reasonable fees
and expenses of the Trustee, and any escrow agent or custodian, (viii) if requested by the Holders, the reasonable fees and expenses of a single counsel to the Holders in connection with any Registration Statement, which counsel shall be a
nationally recognized law firm experienced in securities law matters selected by the Holders, and (ix) any fees and expenses of any special experts retained by the Company in connection with any Registration Statement, but excluding any
underwriting discounts and commissions and transfer taxes, if any, relating to the sale or disposition of Registrable Securities by a Holder. 

“Registration Statement” shall mean a Shelf Registration Statement or an Other Registration Statement. 

“Required Percentage” means at least 60 percent; provided that if at any time either (i) GHP, together with
its Affiliates, or (ii) CB, together with its Affiliates, own less than $200 million aggregate principal amount of the Notes issued and outstanding, the Required Percentage means at least 50% of the Registrable Securities (including any
issued and outstanding Notes on as converted to Registrable Securities basis). 
 “SEC” shall mean the Securities and
Exchange Commission or any successor agency or government body performing the functions currently performed by the United States Securities and Exchange Commission. 

“Shelf Registration” shall mean a registration effected pursuant to Section 2.1. 

“Shelf Registration Statement” shall mean a “shelf” registration statement of the Company pursuant to the
provisions of Section 2.1 which covers all of the Registrable Securities on Form S-3 (including an automatic shelf registration statement filed pursuant to General Instruction I.D. of Form S-3) or, if not then available to the Company, on another appropriate form under Rule 415 under the 1933 Act, or any similar rule that may be adopted by the SEC, and all amendments and supplements to
such registration statement, including post-effective amendments, in each case including the Prospectus contained therein, all exhibits thereto and all materials incorporated by reference therein. 

  
 2 

 “Take-Down Notice” means a notice from a Holder given pursuant to
Section 2.3. 
 “Underwritten Offering” shall mean a distribution of Registrable Securities effected pursuant
to Section 2.3. 
 2.    Registration Under the 1933 Act. 

2.1    Shelf Registration. 

(a)    The Company shall, at its cost, no later than five months after the Closing Date, file with the SEC, and
thereafter shall use its commercially reasonable efforts to cause to become effective as promptly as practicable but no later than six months after the Closing Date, a Shelf Registration Statement relating to the offer and sale of the Registrable
Securities by the Holders that have provided the information pursuant to Section 2.1(d). 
 (b)    The Company
shall, at its cost, use its commercially reasonable efforts , subject to Section 2.5, to keep the Shelf Registration Statement continuously effective in order to permit the Prospectus forming part thereof to be usable by Holders until the
earlier to occur of (A) all Registrable Securities covered by the Shelf Registration Statement have been sold pursuant to the Shelf Registration Statement, (B) when the Holders are able to sell or transfer to the public all Registrable
Securities immediately without any restriction or limitation pursuant to Rule 144(b) (or any similar provision then in force, but not Rule 144A) under the 1933 Act or (C) when all Registrable Securities cease to be outstanding or
otherwise cease to be Registrable Securities (the “Effectiveness Period”). 
 (c)    Notwithstanding
any other provisions hereof, the Company shall use its commercially reasonable efforts to provide that (i) any Shelf Registration Statement and any amendment thereto and any Prospectus forming part thereof and any supplement thereto complies in
all material respects with the 1933 Act and the rules and regulations thereunder, (ii) any Shelf Registration Statement and any amendment thereto does not, when it becomes effective, contain an untrue statement of a material fact or omit to
state a material fact required to be stated therein or necessary to make the statements therein not misleading and (iii) any Prospectus forming part of any Shelf Registration Statement, and any supplement to such Prospectus (as amended or
supplemented from time to time), does not include an untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading.

 (d)    Notwithstanding any other provision hereof, no Holder of Registrable Securities may include any of its
Registrable Securities in a Shelf Registration Statement pursuant to this Agreement unless such Holder furnishes to the Company in writing such information regarding the Holder and the proposed distribution by such Holder of such Registrable
Securities as the Company may reasonably request in writing for use in connection with such Shelf Registration Statement or Prospectus included therein and in any application to be filed with or under state securities laws. As soon as practicable
prior to the filing of a Shelf Registration Statement, the Company will provide notice to the Holders pursuant to Section 6.4 of its intention to file such Shelf Registration Statement. In order to be named as a selling securityholder in the
Prospectus at the time of effectiveness of a Shelf Registration Statement, each Holder must, before the filing of such Shelf Registration Statement and promptly after receiving notice from the Company of its intention to file, furnish such
information that the Company may reasonably request in writing, if any, to the Company in writing and the Company shall include the information in such Shelf Registration Statement and the Prospectus as it deems necessary or advisable so that upon
effectiveness of such Shelf Registration Statement the Holder will be permitted to deliver the Prospectus to purchasers of the Holder’s Registrable Securities. From and after the date that the Shelf Registration Statement becomes effective,
upon the written request of a Holder and receipt by the Company of such information that the Company may reasonably request in writing, the Company will use its commercially reasonable efforts to file within 20 business days any amendments or
supplements to the Shelf Registration Statement necessary for such Holder to be named as a selling securityholder in the Prospectus contained therein to permit such Holder to deliver the Prospectus to purchasers of the Holder’s securities
(subject to the Company’s right to suspend any Shelf Registration Statement as described in Section 2.5 below); provided, however, that the Company shall not be required to file more than one post-effective amendment within a six-month period for all such Holders. If a post-

  
 3 

 
effective amendment is required to be filed, the Company shall use its commercially reasonable efforts to have such post-effective amendment declared effective by the SEC, if necessary, as
promptly as practicable after filing thereof. Each Holder named as a selling securityholder in the Prospectus agrees to promptly furnish to the Company all information required to be disclosed in order to make information previously furnished to the
Company by the Holder not materially misleading and any other information regarding such Holder and the distribution of such Holder’s Registrable Securities as the Company may from time to time reasonably request in writing. 

(e)    Each Holder agrees not to sell any Registrable Securities pursuant to a Shelf Registration Statement without
delivering, or causing to be delivered, a Prospectus to the purchaser thereof to the extent required by law and, following termination of the Effectiveness Period, to notify the Company, within ten days of a written request by the Company, of the
amount of Registrable Securities sold pursuant to such Shelf Registration Statement and, in the absence of a response, the Company may assume that all of such Holder’s Registrable Securities have been so sold; provided that the Company shall
use reasonable best efforts to confirm that all of such Holder’s Registrable Securities have been so sold prior to making such assumption. 

(f)    The Company represents and agrees that, unless it obtains the prior consent of the Holders of the Registrable
Securities that are registered under the Shelf Registration Statement at such time or the approval of the counsel for the Holders of such Registrable Securities or the consent of the managing underwriter in connection with any underwritten offering
of Registrable Securities, and each Holder represents and agrees that, unless it obtains the prior consent of the Company and any such underwriter, it will not make any offer relating to the securities that would constitute an “issuer free
writing prospectus,” as defined in Rule 433 under the 1933 Act (an “Issuer Free Writing Prospectus”), or that would otherwise constitute a “free writing prospectus,” as defined in Rule 405 under the 1933
Act, required to be filed with the SEC. The Company represents that any Issuer Free Writing Prospectus will not include any information that conflicts with the information contained in a Shelf Registration Statement or Prospectus and that any Issuer
Free Writing Prospectus, when taken together with the information in the Shelf Registration Statement and the Prospectus, will not include any untrue statement of a material fact or omit to state any material fact necessary in order to make the
statements therein, in light of the circumstances under which they were made, not misleading. 
 The Company agrees to supplement or amend a
Shelf Registration Statement if required by the rules, regulations or instructions applicable to the registration form used by the Company if required by the 1933 Act, or to the extent the Company does not reasonably object, as reasonably requested
in writing by the Purchasers with respect to information relating to the Purchasers or by the Trustee on behalf of the Holders with respect to information relating to the Holders, and to furnish to the Holders of Registrable Securities that are
covered under such Shelf Registration Statement copies of any such supplement or amendment promptly after its being used or filed with the SEC in such amounts as they may reasonably request. 

2.2    Piggyback Registration. Notwithstanding Section 2.1, if during the Effectiveness Period (a) the
Company proposes to file a registration statement under the 1933 Act covering the sale to the public of shares of Common Stock for the Company’s own account (except with respect to registration statements on Forms
S-4, S-8 or another form not available for registering the Registrable Securities for sale to the public or a Shelf Registration pursuant to Section 2.1) (such
registration statement an “Other Registration Statement”), and (b) a Shelf Registration Statement relating to the offer and sale of the Registrable Securities by the Holders is not effective in accordance with Section 2.1
or not available to the Holders for the resale of Registrable Securities held by them, then each such time the Company will give written notice pursuant to Section 6.4 to each Holder of Registrable Securities of its intention to do so. Upon the
written request of any of such Holders of the Registrable Securities, given within ten (10) days after receipt by such Holder of such notice, the Company will, subject to the limits contained in this Section 2.2, use its commercially
reasonable efforts to cause up to a number of shares of Common Stock of such requesting Holder that are Registrable Securities equal to such Holder’s Pro Rata Share (as defined below) to be registered under the Other Registration Statement and
qualified for sale under any state blue sky law, all to the extent required to permit such sale or other disposition of said Registrable Securities under such Other Registration Statement. The term “Pro Rata Share” shall mean a
Holder’s number of Registrable Securities equal to the percentage that such Holder’s total number of Registrable Securities represents of the Company’s fully diluted number of shares of Common Stock at the time. Notwithstanding the
foregoing, if the Company is advised in writing in good faith by any managing underwriter with respect to an offering covered by an Other Registration 

  
 4 

 
Statement that the number of shares to be sold by Holders of Registrable Securities is greater than the number which can be offered without adversely affecting the offering, the Company may
reduce the number of Registrable Securities offered for the accounts of Holders to a number deemed satisfactory by such managing underwriter on a pro rata basis based upon the number of shares of Common Stock that are sought to be included in such
Other Registration Statement by all Holders. The Company shall use commercially reasonable efforts to cause such Registrable Securities to be included in such Other Registration Statement and the managing underwriter or underwriters of a proposed
underwritten offering to permit such Registrable Securities to be sold in accordance with the intended method(s) of distribution thereof on the same terms and conditions as any shares of Common Stock to be sold by the Company. All Holders of
Registrable Securities proposing to distribute their securities through an Other Registration Statement that involves an underwriter or underwriters shall enter into an underwriting agreement in customary form with the underwriter or underwriters
selected by the Company. For the avoidance of doubt, this Section 2.2 does not apply to (i) registration statements covering the resale of shares of Common Stock by any Persons other than the Holders who may have initiated a request for an
Other Registration Statement, whether or not pursuant to any contractual, incidental registration rights, and (ii) if there is an effective Shelf Registration Statement available for the resale of Registrable Securities pursuant to
Section 2.2. 
 2.3    Underwritten Offerings. If a Holder proposes to offer and sell Registrable Securities
in an offering to the public that involves an underwriter or underwriters, including in a block trade (an “Underwritten Offering”) the following conditions shall apply: (a) so long as the Shelf Registration Statement is
effective, a Holder of Registrable Securities may deliver a notice to the Company (a “Take-Down Notice”) stating that it, together with any other Holders, intend to sell at least $100,000,000 in aggregate value of Registrable
Securities held by such Holder and such other Holders in the aggregate (provided that, if the Holder and its Affiliates do not collectively own at least $100,000,000 of Registrable Securities, they shall be permitted to deliver a Take-Down Notice to
sell all of the Registrable Securities held by them (but such amount may not in any case be less than $25,000,000 collectively of Registrable Securities), in each case, pursuant to the Shelf Registration Statement; (b) the Company will give
written notice pursuant to Section 6.4 to each Holder of Registrable Securities of receipt of a Take-Down Notice; (c) based on the Take-Down Notice and any written request of any other Holder of Registrable Securities, given within ten
(10) days after receipt by such Holder of such notice, the Company will, subject to the limits contained in this Section 2.3, use its commercially reasonable efforts to amend or supplement the Shelf Registration Statement as may be
necessary, and to the extent required by law, so that the Shelf Registration Statement remains available in order to enable all Registrable Securities covered by the Take-Down Notice and such other requests to be distributed in an Underwritten
Offering so long as such Underwritten Offering of Registrable Securities satisfies the dollar thresholds set forth in clause (a) above; (d) where the Take-Down Notice contemplates marketing efforts not to exceed twenty-four (24) hours by
the Company and the underwriters, the Company will use reasonable efforts to cooperate and make its senior officers available for participation in such marketing efforts (which marketing efforts will not, for the avoidance of doubt, include a
“road show” requiring such officers to travel outside of the city in which they are primarily located); (e) the Holder of Registrable Securities that delivered the applicable Take-Down Notice shall select the underwriter(s) for each
Underwritten Offering, provided that the managing underwriter(s) (if there is only one underwriter, such underwriter shall be deemed to be the managing underwriter) shall be reasonably acceptable to the Company; (f) the Company shall
select the counsel for the managing underwriter(s), provided that such counsel shall be reasonably acceptable to the underwriter(s) and the Holder of Registrable Securities that delivered the applicable Take-Down Notice; and (g) the
Holder of Registrable Securities that delivered the applicable Take-Down Notice shall determine the timing and pricing of the Registrable Securities offered, including the underwriting discount and fees payable to the underwriters in such
Underwritten Offering and the Holders whose Registrable Securities are included in the Underwritten Offering shall be solely responsible for all discounts and fees payable to such underwriters pro rata to the number of their shares so included. No
Holder may deliver more than one Take-Down Notice in any period of twelve (12) consecutive months. Without the consent of the Holder of Registrable Securities that delivered the applicable Take-Down Notice, no Underwritten Offering pursuant to
this Section 2.3 shall include any securities other than Registrable Securities. Notwithstanding anything herein to the contrary, if Holders of Registrable Securities engage or propose to engage in a “distribution” (as defined in
Regulation M under the Exchange Act) of Registrable Securities, such Holders shall discuss the timing of such distribution with the Company reasonably prior to commencing such distribution. Notwithstanding anything herein to the
contrary, nothing in this Section 2.3 shall amend, impact or otherwise affect the terms, provisions or obligations of any party pursuant to Section 2.1 above, including without limitation, (i) altering the Company’s
obligations to file and maintain the Shelf Registration Statement in accordance with the provisions of 

  
 5 

 
Section 2.1 or (ii) limiting the ability of a Holder to offer and sell Registrable Securities in a transaction involving an underwriter (including a block trade) pursuant to the Shelf
Registration Statement in accordance with the provisions of Section 2.1. 
 2.4    Expenses. The Company
shall pay all Registration Expenses in connection with the registration pursuant to Section 2.1. Each Holder shall pay all underwriting discounts and commissions and transfer taxes, if any, relating to the sale or disposition of such
Holder’s Registrable Securities pursuant to a Registration Statement. 
 2.5    Suspension. Notwithstanding
any other provision hereof, the Company may suspend the use of any Prospectus, without being deemed in violation of any other provision hereof, for a period not to exceed 30 calendar days in any three-month period, or an aggregate of 90 calendar
days in any twelve-month period, (each, a “Suspension Period”) if the Board of Directors of the Company shall have determined in good faith that because of valid business reasons (not including avoidance of the Company’s
obligations hereunder), including without limitation proposed or pending corporate developments and similar events or because of filings with the SEC, it is in the best interests of the Company to suspend such use, and prior to suspending such use
the Company provides the Holders with written notice of such suspension, which notice need not specify the nature of the event giving rise to such suspension. Each Holder shall keep confidential any communications received by it from the Company
regarding the suspension of the use of the Prospectus, except as required by applicable law. 
 3.    Registration
Procedures. 
 In connection with the obligations of the Company with respect to the Shelf Registration, the Company shall, subject to
the rights of the Company to invoke and maintain a Suspension Period with respect to a Shelf Registration in accordance with Section 2.5 without being in violation of any of the provisions hereunder: 

(a)    prepare and file with the SEC a Registration Statement, within the relevant time period specified in
Section 2, on the appropriate form under the 1933 Act, which form (i) shall be selected by the Company, (ii) shall be available for the sale of the Registrable Securities by the selling Holders thereof, (iii) shall comply as to
form in all material respects with the requirements of the applicable form and include or incorporate by reference all financial statements required by the SEC to be filed therewith or incorporated by reference therein, and (iv) shall comply in
all respects with the applicable requirements of Regulation S-T under the 1933 Act, if any, and use commercially reasonable efforts to cause such Registration Statement to become effective and remain effective
in accordance with Section 2; 
 (b)    prepare and file with the SEC such amendments and post-effective
amendments to a Registration Statement as may be necessary under applicable law to keep such Registration Statement effective for the Effectiveness Period, subject to Section 2.5; and cause each Prospectus to be supplemented by any required
prospectus supplement, and as so supplemented to be filed pursuant to Rule 424 (or any similar provision then in force) under the 1933 Act and comply during the Effectiveness Period with the provisions of the 1933 Act, the 1934 Act and the
rules and regulations thereunder required to enable the disposition of all Registrable Securities covered by a Registration Statement in accordance with the intended method or methods of distribution by the selling Holders thereof; provided,
that in no event will such method(s) of distribution take the form of an underwritten offering of the Registrable Securities without the prior agreement of the Company, which agreement shall not be unreasonably withheld; 

(c)    (i) notify each Holder of Registrable Securities of the filing of a Registration Statement with respect to
the Registrable Securities; (ii) furnish to each Holder of Registrable Securities, as many copies of each Prospectus, including each preliminary Prospectus, and any amendment or supplement thereto and such other documents as such Holder or
underwriter may reasonably request in writing, including financial statements and schedules and, if the Holder so requests, all exhibits in order to facilitate the unrestricted sale or other disposition of the Registrable Securities; and
(iii) subject to Section 2.5 and to any notice by the Company in accordance with Section 3(e) hereof of the existence of any fact of the kind described in Sections 3(e)(ii), (iii), (iv), (v) and (vi), hereby consent to the use of
the Prospectus or any amendment or supplement thereto by each of the selling Holders of Registrable Securities that has provided the information required by Section 2.1(d) in connection with the offering and sale of the Registrable Securities;

  
 6 

 (d)    use commercially reasonable efforts to register or qualify the
Registrable Securities under all applicable state securities or “blue sky” laws of such jurisdictions as any Holder of Registrable Securities covered by a Registration Statement and each underwriter of an underwritten offering of
Registrable Securities shall reasonably request, and do any and all other acts and things which may be reasonably necessary or advisable to enable each such Holder and underwriter to consummate the disposition in each such jurisdiction of such
Registrable Securities owned by such Holder; provided, however, that the Company shall not be required to (i) qualify as a foreign corporation or as a dealer in securities in any jurisdiction where it would not otherwise be required to
qualify but for this Section 3(d), or (ii) take any action which would subject it to general service of process or taxation in any such jurisdiction where it is not then so subject; 

(e)    notify promptly each Holder of Registrable Securities under a Registration Statement and, if requested by such
Holder, confirm such advice in writing promptly (i) when a Registration Statement has become effective and when any post-effective amendments thereto have become effective, (ii) of any request by the
SEC or any state securities authority for post-effective amendments and supplements to a Registration Statement and Prospectus or for additional information relating thereto after a Registration Statement has become effective, (iii) of the
issuance by the SEC or any state securities authority of any stop order suspending the effectiveness of a Registration Statement or the initiation of any proceedings for that purpose, (iv) of the happening of any event or the discovery of any
facts during the period a Registration Statement is effective or a Prospectus is required to be delivered which makes any statement made in a Registration Statement or a related Prospectus untrue in any material respect or which requires the making
of any changes in such Registration Statement or Prospectus in order to make the statements therein (in the case of the Prospectus in light of the circumstances under which they were made) not misleading, (v) of the receipt by the Company of
any notification with respect to the suspension of the qualification of the Registrable Securities for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose and (vi) of any determination by the Company
that a post-effective amendment to a Registration Statement would be appropriate, other than a post-effective amendment solely to add selling Holders; 

(f)    furnish to each Holder of Registrable Securities (i) copies of any material comment letters received from the
SEC with respect to a Registration Statement or any documents incorporated therein and (ii) any other request by the SEC or any state securities authority for amendments or supplements to a Registration Statement and Prospectus or for
additional information with respect to a Registration Statement and Prospectus; 
 (g)    use commercially reasonable
efforts to promptly obtain the withdrawal of any order suspending the effectiveness of a Registration Statement and provide prompt notice to each Holder of the withdrawal of such notice, or the lifting of any suspension of the qualification (or
exemption from qualification) of any of the Registrable Securities for sale in any jurisdiction at the earliest reasonable practicable date, except that the Company shall not for any such purpose be required to (A) qualify generally to do
business as a foreign corporation or as a dealer in securities in any jurisdiction wherein it would not but for the requirements of this clause (g) be obligated to be so qualified, (B) subject itself to taxation in any such jurisdiction or
(C) file a general consent to service of process in any such jurisdiction; 
 (h)    furnish, upon written
request, to each Holder of Registrable Securities and each underwriter, if any, without charge, at least one conformed copy of each Registration Statement and any post-effective amendment thereto, including financial statements and schedules
(without documents incorporated therein by reference and all exhibits thereto, unless requested); 
 (i)    if
electronic global certificates for the Registrable Securities are not then available, cooperate with the selling Holders of Registrable Securities to facilitate the timely preparation and delivery of certificates representing Registrable Securities
to be sold and not bearing any restrictive legends (other than as required by applicable law); and enable such Registrable Securities to be in such denominations (consistent with the provisions of the Indenture), if applicable, and registered in
such names as the selling Holders or the underwriters, if any, may reasonably request at least three business days prior to the closing of any sale of Registrable Securities; 

  
 7 

 (j)    upon the occurrence of any event or the discovery of any facts,
each as contemplated by Sections 3(e)(ii), (iii), (iv), (v) and (vi) hereof, as promptly as practicable after the occurrence of such an event, use commercially reasonable efforts to prepare a supplement or post-effective amendment to a
Registration Statement or the related Prospectus or any document incorporated therein by reference or file any other required document so that, as thereafter delivered to the purchasers of the Registrable Securities, such Prospectus will not contain
at the time of such delivery any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in light of the circumstances under which they were made, not misleading or will remain so qualified. At
such time as such public disclosure is otherwise made or the Company determines that such disclosure is not necessary, in each case to correct any misstatement of a material fact or to include any omitted material fact, the Company agrees promptly
to notify each Holder of Registrable Securities covered by such Registration Statement of such determination and to furnish each Holder such number of copies of the Prospectus as amended or supplemented, as such Holder may reasonably request; 

(k)    promptly prior to the filing of any Registration Statement, any Prospectus, any amendment to the foregoing (other
than amendments and supplements that do nothing more than name Holders and provide information with respect thereto and other than filings by the Company of 1934 Act reports), provide copies of such document to each Holder, and make representatives
of the Company, as shall be reasonably requested by special counsel to the Holders of Registrable Securities, available for discussion of such document; 

(l)    enter into such customary agreements (including, if requested, an underwriting agreement in customary form) and
take all other customary and appropriate actions, if any, in order to expedite or facilitate the disposition of such Registrable Securities, including, but not limited to: 

(i)    obtain opinions of counsel to the Company and updates thereof addressed to the underwriters, if any, covering the
matters customarily covered in opinions and negative assurance letters delivered to underwriters in similar offerings; 

(ii)    obtain “comfort” letters and updates thereof from the Company’s independent certified public
accountants (and, if necessary, any other independent certified public accountants of any subsidiary of the Company or of any business acquired by the Company for which financial statements are, or are required to be, included in a Registration
Statement) addressed to the underwriters, such letters to be in form and substance consistent with “comfort” letters customarily provided to underwriters in similar offerings; 

(iii)    if an underwriting agreement is entered into, cause the same to set forth indemnification provisions and
procedures in customary form with respect to underwriters; and 
 (iv)    deliver such documents and certificates as
may be reasonably requested and as are customarily delivered in similar offerings to the Holders of the Registrable Securities being sold and the managing underwriters, if any. 

The above shall be done only in connection with any underwritten offering of Registrable Securities using such Registration Statement pursuant
to an underwriting or similar agreement as and to the extent required thereunder, and as reasonably requested by any of the parties thereto; 

(m)    at a reasonable time prior to filing a Registration Statement, any Prospectus forming a part thereof, any
amendment to the foregoing (other than amendments and supplements that do nothing more than name Holders and provide information with respect thereto and other than filings by the Company under the 1934 Act), (i) provide copies of such document
to the Purchasers, to the Holders of Registrable Securities or to the underwriters of an underwritten offering of Registrable Securities, if any, (ii) consider such changes in any such document prior to the filing thereof as the Purchasers, the
Holders or the underwriters reasonably request for inclusion therein and provide to the Company in writing for inclusion therein within three business days of delivery of such copies, and (iii) make the representatives of the Company available
for discussion of such document as shall 

  
 8 

 
be reasonably requested in writing by the Purchasers, the Holders of Registrable Securities, special counsel for the Holders of Registrable Securities or any underwriter; provided,
however, that the foregoing discussion shall be coordinated on behalf of the parties entitled thereto by the special counsel to the Holders; 

(n)    subject to Section 2.1(d), if requested by any Holder of Registrable Securities that has provided the
information required by Section 2.1(d) or the underwriters, if any, incorporate in a Registration Statement or Prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such selling Holder or
underwriter, if any, may reasonable request in writing to have included therein with respect to the name or names of such selling Holder, the number of Registrable Securities owned by such Holder, the plan of distribution of the Registrable
Securities (as required by Item 508 of Regulation S-K), the number of Registrable Securities being sold, the purchase price being paid therefor, and any other terms of the offering of the Registrable
Securities to be sold in such offering; 
 (o)    use commercially reasonable efforts to cause all Registrable
Securities to be listed on any securities exchange or inter-dealer quotation system on which similar securities issued by the Company are then listed if requested by the Holders, or if requested by the underwriter or underwriters of an underwritten
offering of Registrable Securities, if any; 
 (p)    otherwise comply with all applicable rules and regulations of the
SEC and make available to its security holders, as soon as reasonably practicable, an earnings statement covering at least 12 months which shall satisfy the provisions of Section 11(a) of the 1933 Act and Rule 158 thereunder; and 

(q)    cooperate and assist in any filings required to be made with FINRA and in the performance of any due diligence
investigation by any underwriter and its counsel (including any “qualified independent underwriter” that is required to be retained in accordance with the rules and regulations of FINRA). 

Without limiting the provisions of Section 2.1(d), the Company may (as a condition to such Holder’s participation in the Shelf
Registration) require each Holder of Registrable Securities to furnish to the Company such information regarding the Holder and the proposed distribution by such Holder of such Registrable Securities as the Company may from time to time reasonably
request in writing. 
 Each Holder agrees that, upon receipt of any notice from the Company of the happening of any event or the discovery
of any facts, each of the kind described in Section 3(e)(ii), (iii), (iv), (v) or (vi) hereof, such Holder will forthwith discontinue disposition of Registrable Securities pursuant to the Prospectus included in the Registration Statement
until such Holder’s receipt of the copies of the supplemented or amended Prospectus contemplated by Section 3(j) or written notice from the Company that such Registration Statement is again effective and no amendment or supplement is
needed, and, if so directed by the Company, such Holder will deliver to the Company (at Holder’s expense) all copies in such Holder’s possession, other than permanent file copies then in such Holder’s possession, of the Prospectus
covering such Registrable Securities current at the time of receipt of such notice. 
 If any of the Registrable Securities covered by any
Registration Statement are to be sold in an underwritten offering, the underwriter or underwriters and manager or managers that will manage such offering will be selected by the Required Percentage of such Registrable Securities included in such
offering and shall be acceptable to the Company. No Holder of Registrable Securities may participate in any underwritten registration hereunder unless such Holder (a) agrees to sell such Holder’s Registrable Securities on the basis
provided in any underwriting arrangements approved by the persons entitled hereunder to approve such arrangements and (b) completes and executes all questionnaires, powers of attorney, indemnities, underwriting agreements and other documents
required under the terms of such underwriting arrangements. 

  
 9 

 4.    Indemnification; Contribution. 

(a)    The Company agrees to indemnify and hold harmless each Holder, each Person who participates as an underwriter, if
any (any such Person being an “Underwriter”), each of their respective directors and officers, and each Person, if any, who controls any such Holder or Underwriter within the meaning of Section 15 of the 1933 Act or
Section 20 of the 1934 Act as follows: 
 (i)    against any and all loss, liability, claim, damage and expense
whatsoever, as incurred, arising out of any untrue statement or alleged untrue statement of a material fact contained in any Registration Statement (or any amendment or supplement thereto) pursuant to which Registrable Securities were registered
under the 1933 Act, including all documents incorporated therein by reference, or the omission or alleged omission therefrom of a material fact required to be stated therein or necessary to make the statements therein not misleading, or arising out
of any untrue statement or alleged untrue statement of a material fact contained in any Prospectus (or any amendment or supplement thereto) or any Issuer Free Writing Prospectus (or any amendment or supplement thereto) or the omission or alleged
omission therefrom of a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading; 

(ii)    against any and all loss, liability, claim, damage and expense whatsoever, as incurred, to the extent of the
aggregate amount paid in settlement of any litigation, or any investigation or proceeding by any governmental agency or body, commenced or threatened, or of any claim whatsoever based upon any such untrue statement or omission, or any such alleged
untrue statement or omission; provided, that (subject to Section 4(d) below) any such settlement is effected with the written consent of the Company; and 

(iii)    against any and all expense whatsoever, as incurred (including the reasonable fees and disbursements of counsel
chosen by any indemnified party), reasonably incurred in investigating, preparing or defending against any litigation, or any investigation or proceeding by any governmental agency or body, commenced or threatened, or any claim whatsoever based upon
any such untrue statement or omission, or any such alleged untrue statement or omission, to the extent that any such expense is not paid under subparagraph (i) or (ii) above; provided, however, that this indemnity agreement shall
not apply to any loss, liability, claim, damage or expense to the extent arising out of any untrue statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with written information furnished to the
Company by or on behalf of any Holder or Underwriter, if any, expressly for use in a Registration Statement (or any amendment thereto), any Prospectus (or any amendment or supplement thereto) or any Issuer Free Writing Prospectus (or any amendment
or supplement thereto) or the gross negligence, willful misconduct or bad faith of any party seeking indemnification. 

(b)    Each Holder, severally, but not jointly, agrees to indemnify and hold harmless the Company, each Underwriter, if
any, and the other selling Holders, and each of their respective directors and officers, and each Person, if any, who controls the Company, any Underwriter or any other selling Holder within the meaning of Section 15 of the 1933 Act or
Section 20 of the 1934 Act, against any and all loss, liability, claim, damage and expense described in the indemnity contained in Section 4(a), as incurred, but only with respect to untrue statements or omissions, or alleged untrue
statements or omissions, made in any Registration Statement (or any amendment thereto) or any Prospectus included therein (or any amendment or supplement thereto) in reliance upon and in conformity with written information with respect to such
Holder furnished to the Company by or on behalf of such Holder expressly for use in such Registration Statement (or any amendment thereto) or such Prospectus (or any amendment or supplement thereto); provided, however, that no such Holder
shall be liable for any claims hereunder in excess of the amount of net proceeds received by such Holder from the sale of Registrable Securities pursuant to such Registration Statement. 

(c)    Each indemnified party shall give notice as promptly as reasonably practicable to each indemnifying party of any
action or proceeding commenced against it in respect of which indemnity may be sought hereunder, but failure to so notify an indemnifying party shall not relieve such indemnifying party from any liability hereunder to the extent it is not materially
prejudiced as a result thereof and in any event shall not relieve it from any liability which it may have otherwise than on account of this indemnity agreement. An indemnifying party may participate at its own expense in the defense of such action;
provided, however, that counsel to the indemnifying party shall not (except with the consent of the indemnified party) also be counsel to the indemnified party. In no event shall the indemnifying party or parties be liable for the fees and
expenses of more than one counsel (in addition to any local counsel) separate from their own counsel for all indemnified parties in connection with any one action or separate but similar or related actions in the same jurisdiction arising out of the
same general allegations or circumstances. No indemnifying party shall (i) without the prior written consent of the indemnified parties (which consent shall not be unreasonably withheld), settle or compromise or consent to the entry of any

  
 10 

 
judgment with respect to any litigation, or any investigation or proceeding by any governmental agency or body, commenced or threatened, or any claim whatsoever in respect of which
indemnification or contribution could be sought under this Section 4 (whether or not the indemnified parties are actual or potential parties thereto), unless such settlement, compromise or consent (A) includes an unconditional release of
each indemnified party from all liability arising out of such litigation, investigation, proceeding or claim and (B) does not include a statement as to or an admission of fault, culpability or a failure to act by or on behalf of any indemnified
party or (ii) be liable for any settlement of any such action effected without its prior written consent (which consent shall not be unreasonably withheld). 

(d)    If at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party
for fees and expenses of counsel, such indemnifying party agrees that it shall be liable for any settlement of the nature contemplated by Section 4(a)(ii) effected without its written consent if (i) such settlement is entered into more
than 60 days after receipt by such indemnifying party of the aforesaid request, (ii) such indemnifying party shall have received notice of the terms of such settlement at least 30 days prior to such settlement being entered into and
(iii) such indemnifying party shall not have reimbursed such indemnified party in accordance with such request prior to the date of such settlement. 

(e)    If the indemnification provided for in this Section 4 is for any reason unavailable to or insufficient to
hold harmless an indemnified party in respect of any losses, liabilities, claims, damages or expenses referred to therein, then each indemnifying party shall contribute to the aggregate amount of such losses, liabilities, claims, damages and
expenses incurred by such indemnified party, as incurred, in such proportion as is appropriate to reflect the relative fault of the Company on the one hand and the Holders on the other hand in connection with the statements or omissions which
resulted in such losses, liabilities, claims, damages or expenses, as well as any other relevant equitable considerations. 
 The relative
fault of the Company on the one hand and the Holders on the other hand shall be determined by reference to, among other things, whether any such untrue or alleged untrue statement of a material fact or omission or alleged omission to state a
material fact relates to information supplied by the Company, or by the Holders and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. 

The Company and the Holders agree that it would not be just and equitable if contribution pursuant to this Section 4 were determined by
pro rata allocation or by any other method of allocation (even if the Holders were treated as one entity for such purposes) which does not take account of the equitable considerations referred to above in this Section 4. The aggregate
amount of losses, liabilities, claims, damages and expenses incurred by an indemnified party and referred to above in this Section 4 shall be deemed to include any legal or other expenses reasonably incurred by such indemnified party in
investigating, preparing or defending against any litigation, or any investigation or proceeding by any governmental agency or body, commenced or threatened, or any claim whatsoever based upon any such untrue or alleged untrue statement or omission
or alleged omission. 
 Notwithstanding the provisions of this Section 4, no Holder shall be required to contribute any amount in
excess of the amount by which the total price at which the Securities sold by it exceeds the amount of any damages which such Holder have otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged
omission. 
 No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the 1933 Act) shall be entitled
to contribution from any Person who was not guilty of such fraudulent misrepresentation. 
 For purposes of this Section 4, each
director and officer of any Holder and each Person, if any, who controls any Holder within the meaning of Section 15 of the 1933 Act or Section 20 of the 1934 Act shall have the same rights to contribution as the Holder, and each director
and officer of the Company, and each Person, if any, who controls the Company within the meaning of Section 15 of the 1933 Act or Section 20 of the 1934 Act shall have the same rights to contribution as the Company. The obligations of the
Company and the Holders pursuant to this Section 4 shall be in addition to any liability that such party may otherwise have. 

  
 11 

 5.    Voting Rights. 

5.1    Obligation to Vote. For as long as GHP or CB have a right to designate any members of the Company’s
Board of Directors pursuant to the Purchase Agreement, each of Niraj Shah and Steven Conine (together the “Founder Stockholders”), GHP and CB, individually and not jointly, agrees with the Company (and only with the Company), and
the Company agrees with each of the Founder Stockholders, GHP and CB, individually and not jointly, that: 
 (a)    the
Company shall take all necessary actions within its control to cause the individuals designated for election to the Company’s Board of Directors by each of GHP and CB in accordance with Section 6.6 of the Purchase Agreement (each a
“Company Designee”) to be nominated for election to the Board of Directors, shall solicit proxies or written consents in favor thereof (but only to the extent that stockholders of the Company have not previously acted by written
consent to elect the Company Designees in lieu of a meeting), and in connection with any such solicitation of the stockholders of the Company at which Directors are to be elected, shall recommend that the stockholders of the Company elect to the
Board of Directors each such Company Designee at such meeting; 
 (b)    each of the Founder Stockholders, GHP and CB,
shall take all necessary actions within his or its control to vote (in person, by proxy or by action by written consent, as applicable) all of the shares of voting capital stock of the Company that he or it or his or its affiliates own, of record or
beneficially, in favor of the election of each Company Designee; and 
 (c)    each of the Founder Stockholders shall
not vote to remove a Company Designee from the Board of Directors unless (i) with respect to the GHP Board Designee, GHP shall have requested that the Company effect the removal of the GHP Board Designee, or, with respect to the CB Board
Designee, CB shall have requested that the Company effect the removal of the CB Board Designee, or (ii) GHP or CB, as applicable, is no longer entitled to designate a Board Designee in accordance with Section 6.6 of the Purchase Agreement. 

5.2     Several Nature of Rights and Obligations. For The rights and obligations of each Founder Stockholder and
each of GHP and CB (each such person, a “Specified Holder”) under this Agreement are several and not joint with the respective rights or obligations of any other Specified Holder, and no Specified Holder shall be responsible in any
way for the performance of the obligations of any other Specified Holder under this Agreement. Nothing contained in this Agreement, and no action taken by any Specified Holder pursuant to this Agreement, shall be deemed to constitute the Specified
Holders as, and the Company and each Specified Holder acknowledges that the Specified Holders do not so constitute, a partnership, an association, a joint venture or any other kind of entity, or create a presumption that the Specified Holders are in
any way acting in concert or as a “group” for purposes of Rule 13d-5 of the Exchange Act. In addition, the Company and each Specified Holder acknowledges that the Specified Holders are not acting in
concert or as a “group” with respect to such rights and obligations under this Agreement and the transactions contemplated hereunder or the exercise or enforcement of their rights hereunder, and neither the Company nor any Specified Holder
will assert any such claim with respect to such rights and obligations or the transactions contemplated by this Agreement or the Purchase Agreement. The Company acknowledges, and each Specified Holder confirms, that each Specified Holder has
independently participated in the negotiation of this Agreement and the Purchase Agreement with the advice of its own counsel and advisors. Each Specified Holder shall be entitled to independently protect and enforce its rights, including, without
limitation, the rights arising out of this Agreement and it shall not be necessary for any other Specified Holder to be joined as an additional party in any proceeding for such purpose. 

  
 12 

 6.    Miscellaneous. 

6.1    Rule 144 and Rule 144A. For so long as the Company is subject to the
reporting requirements of Section 13 or 15(d) of the 1934 Act, the Company shall use commercially reasonable efforts to timely file the reports required to be filed by it under Section 13 of 15(d) of the 1934 Act and the rules and
regulations adopted by the SEC thereunder. If the Company ceases to be so required to file such reports, the Company shall use commercially reasonable efforts to, upon the request of any Holder of Registrable Securities, (a) make publicly
available such information as is necessary to permit sales pursuant to Rule 144 under the 1933 Act, (b) deliver such information to a prospective purchaser as is necessary to permit sales of the Notes pursuant to Rule 144A under the
1933 Act and it will take such further action as any Holder of Registrable Securities may reasonably request for such purpose, and (c) take such further action that is reasonable in the circumstances, in each case, to the extent required from
time to time to enable such Holder to sell (i) its Registrable Securities without registration under the 1933 Act within the limitation of the exemption provided by Rule 144 under the 1933 Act, as such Rule may be amended from time to
time, (ii) its Notes without registration under the 1933 Act within the limitation of the exemption provided by Rule 144A under the 1933 Act, as such Rule may be amended from time to time, or (iii) any similar rules or regulations
hereafter adopted by the SEC. Upon the request of any Holder of Registrable Securities, the Company will deliver to such Holder a written statement as to whether it has complied with such requirements. 

6.2    No Inconsistent Agreements. The Company has not entered into and the Company shall not, after the date of
this Agreement, enter into any agreement which materially and adversely interfere with the rights granted to the Holders of Registrable Securities in this Agreement or otherwise conflicts with the provisions hereof. The rights granted to the Holders
hereunder do not and will not for the term of this Agreement in any way conflict with the rights granted to the holders of any of the Company’s other issued and outstanding securities under any such agreements. 

6.3    Amendments and Waivers. The provisions of this Agreement, including the provisions of this sentence, may not
be amended, modified or supplemented, and waivers or consents to departures from the provisions hereof may not be given unless the Company has obtained the written consent of the Required Percentage of the Registrable Securities (includes any issued
and outstanding Notes on as converted to Registrable Securities basis) affected by such amendment, modification, supplement, waiver or departure. Notwithstanding the foregoing, this Agreement may be amended by a written agreement between the Company
and the Purchasers, without the consent of the Holders of the Registrable Securities, in order to cure any ambiguity or to correct or supplement any provision contained herein, provided that no such amendment shall adversely affect the interest of
the Holders of Registrable Securities. Each Holder of Registrable Securities outstanding at the time of any amendment, modification, waiver or consent pursuant to this Section 6.3, shall be bound by such amendment, modification, waiver or
consent, whether or not any notice or writing indicating such amendment, modification, waiver or consent is delivered to such Holder. 

6.4    Notices. All notices and other communications provided for or permitted hereunder shall be made in writing
by electronic mail, hand delivery, registered first-class mail, facsimile, or any courier guaranteeing overnight delivery (a) if to a Holder, at the most current address given by such Holder to the Company by means of a notice given in
accordance with the provisions of this Section 6.4, which address initially is the address set forth in the Purchase Agreement with respect to the Purchasers; and (b) if to the Company, initially at the Company’s address set forth in
the Purchase Agreement, and thereafter at such other address of which notice is given in accordance with the provisions of this Section 6.4. 

All such notices and communications shall be deemed to have been duly given: at the time delivered by hand, if personally delivered; two
business days after being deposited in the mail, postage prepaid, if mailed; when receipt is acknowledged, if sent by facsimile; and on the next business day if timely delivered to an overnight courier. 

Copies of all such notices, demands, or other communications shall be concurrently delivered by the person giving the same to the Trustee
under the Indenture, as required, at the address specified in the Indenture. 

  
 13 

 6.5    Successors and Assigns. This Agreement shall inure to the
benefit of and be binding upon the successors, assigns and transferees of each of the parties, including, without limitation and without the need for an express assignment, subsequent Holders; provided, that nothing herein shall be deemed to
permit any assignment, transfer or other disposition of Registrable Securities in violation of the terms of the Purchase Agreement or the Indenture. If any transferee of any Holder shall acquire Registrable Securities, in any manner, whether by
operation of law or otherwise, such Registrable Securities shall be held subject to all of the terms of this Agreement, and by taking and holding such Registrable Securities such person shall be conclusively deemed to have agreed to be bound by and
to perform all of the terms and provisions of this Agreement, including the restrictions on resale set forth in this Agreement and, if applicable, the Purchase Agreement, and such person shall be entitled to receive the benefits hereof. The
Purchasers (in their capacity as Purchasers) shall have no liability or obligation to the Company with respect to any failure by a Holder, other than the Purchasers, to comply with, or breach by any Holder, other than the Purchasers, of, any of the
obligations of such Holder under this Agreement. 
 6.6    Third Party Beneficiaries. The Purchasers (even if the
Purchasers are not Holders of Registrable Securities) shall be a third party beneficiary to the agreements made hereunder between the Company, on the one hand, and the Holders, on the other hand, and shall have the right to enforce such agreements
directly to the extent it deems such enforcement necessary or advisable to protect its rights or the rights of Holders hereunder. Each Holder of Registrable Securities shall be a third party beneficiary to the agreements made hereunder between the
Company, on the one hand, and the Purchasers, on the other hand, and shall have the right to enforce such agreements directly to the extent it deems such enforcement necessary or advisable to protect its rights hereunder. 

6.7    Specific Enforcement. Without limiting the remedies available to the Purchasers and the Holders, the Company
acknowledges that any failure by the Company to comply with its obligations under Sections 2.1 may result in material irreparable injury to the Purchasers or the Holders for which there is no adequate remedy at law, that it may not be possible
to measure damages for such injuries precisely and that, in the event of any such failure, the Purchasers or any Holder may seek such relief as may be required to specifically enforce the Company’s obligations under Sections 2.1 hereof.

 6.8    Counterparts. This Agreement may be executed in any number of counterparts and by the parties hereto in
separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. 

6.9    Headings. The headings in this Agreement are for convenience of reference only and shall not limit or
otherwise affect the meaning hereof. 
 6.10    GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK. 
 6.11    Severability. In the event that
any one or more of the provisions contained herein, or the application thereof in any circumstance, is held invalid, illegal or unenforceable, the validity, legality and enforceability of any such provision in every other respect and of the
remaining provisions contained herein shall not be affected or impaired thereby. 
 6.12    Entire Agreement.
This Agreement is intended by the parties as a final expression of their agreement and intended to be a complete and exclusive statement of the agreement and understanding of the parties hereto in respect of the subject matter contained herein.
There are no restrictions, promises, warranties or undertakings, other than those set forth or referred to herein with respect to the registration rights granted by the Company with respect to the Registrable Securities. This Agreement supersedes
all prior agreements and understandings between the parties with respect to such subject matter. 

  
 14 

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

 

			
	WAYFAIR INC.

 
			
		
	By:	 	  

	Name:	 	
	Title:	 	

  

			
	CONFIRMED AND ACCEPTED,
	as of the date first above written:
	
	GHEP VII AGGREGATOR, L.P.
		
	By:	 	  

		 	Authorized Signatory
	
	CBEP INVESTMENTS, LLC
		
	By:	 	  

		 	Authorized Signatory
	
	THE SPRUCE HOUSE PARTNERSHIP LLC
		
	By:	 	  

		 	Authorized Signatory
	
	NIRAJ SHAH
	
	  

	
	STEVEN CONINE
	
	  

 [Signature Page to Registration Rights Agreement]

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