Document:

Exhibit 10.6

      

       

      

      
        AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT

         

        THIS AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT (this “Agreement”), dated as of [-], is made and entered into by and among
          Packable Commerce, Inc., a Delaware corporation (the “Company”), Highland Transcend Partners I, LLC, a Delaware limited liability company (the “Sponsor”), and each of the undersigned parties listed on the signature page hereto under “Holders” (each, a “Holder” and collectively, the “Holders”).

         

        RECITALS

         

        WHEREAS, concurrently with the execution of this Agreement, in accordance with the Agreement and Plan of Merger, dated as of September 8, 2021 (the “Merger Agreement”),

            by and among (i) Highland Transcend Partners I Corp., (ii) Picasso Merger Sub I, Inc., (iii) Picasso Merger Sub II, LLC, (iv) Picasso Merger Sub III, LLC, (v) Carlyle Partners VII Pacer Holdings, L.P., (vi) CP VII Pacer Corp., (vii) CP VII
            Pacer EU L.P., (viii) Packable Holdings, LLC (“Packable Holdings”) and (ix) Shareholder Representative Services LLC, solely in its capacity as the representative, agent and
            attorney-in-fact of the Holders under the Merger Agreement, the parties to the Merger Agreement are consummating the business combination involving Packable Holdings contemplated thereunder (the “Business Combination”);

         

        WHEREAS, the Company and the Sponsor are parties to that certain Registration Rights Agreement dated as of December 2, 2020 (the “Original Agreement”),
            pursuant to which the Company granted the Sponsor certain registration rights with respect to certain securities of the Company; and

         

        WHEREAS, as a condition of, and as a material inducement for Packable Holdings to enter into and consummate the transactions contemplated by the Merger Agreement, the Company and the Sponsor have agreed to amend and restate the Original
            Agreement in order to provide certain registration rights relating to the registration of shares of Common Stock (as defined below) held by the equityholders of Packable Holdings as of and contingent upon the closing of the Business
            Combination.

         

        NOW, THEREFORE, in consideration of the representations, covenants and agreements contained herein, and certain other good and valuable consideration, the receipt and
            sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree that the Original Agreement is hereby amended and restated in its entirety, as of and contingent upon the closing of the Business
            Combination, as follows:

         

        ARTICLE I

         

        DEFINITIONS

         

        1.1          Definitions. The terms defined in this Article I shall, for all purposes of this Agreement, have the respective meanings set forth below:

         

        
          
            

        

        
        “Adverse Disclosure” shall mean any public disclosure of material non-public information, which disclosure, in the good faith judgment
          of the Chief Executive Officer or principal financial officer of the Company, after consultation with counsel to the Company, (i) would be required to be made in any Registration Statement or Prospectus in order for the applicable Registration
          Statement or Prospectus not to contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements contained therein (in the case of any prospectus and any preliminary prospectus, in the light of the
          circumstances under which they were made) not misleading, (ii) would not be required to be made at such time if the Registration Statement were not being filed, declared effective or used, as the case may be, and (iii) the Company has a bona fide
          business purpose for not making such information public.

         

        “Agreement” shall have the meaning given in the Preamble.

         

        “Board” shall mean the Board of Directors of the Company.

        

         

        “business day” means any day, other than a Saturday or a Sunday, that is neither a legal holiday nor a day on which banking
          institutions are generally authorized or required by law or regulation to close in the City of New York, New York.

         

        “Commission” shall mean the United States Securities and Exchange Commission.

         

        “Common Stock” shall mean the Class A shares of common stock, par value $0.0001 per share, of the Company outstanding immediately following the transactions
          contemplated by the Merger Agreement.

         

        “Common Stock Equivalents” shall mean any rights, warrants, options, convertible securities or indebtedness, exchangeable securities or indebtedness, or
          other rights, exercisable for or convertible or exchangeable into, directly or indirectly, Class A Common Stock and securities convertible or exchangeable into Class A Common Stock, whether at the time of issuance or upon the passage of time or
          the occurrence of such future event, including Units and the Class B Common Stock of the Company.

         

        “Company” shall have the meaning given in the Preamble.

         

        “Continuing Members” shall mean (i) the Members of Packable Holdings, LLC as of immediately prior to the Effective Time (as defined in the Merger Agreement) of the Company Merger and (ii) the Blocker Owners
            (as defined in the Merger Agreement); provided, that, for purposes of this definition, the parties acknowledge and agree that any Registrable Securities held by the Blocker Owners at the Effective Time were issued to the Blocker Owners as
            holders of Series B Preferred Units.

         

        “Demanding Holders” shall have the meaning given in subsection 2.1.1.

         

        “Demand Registration” shall have the meaning given in subsection 2.1.1.

         

        “Effective Time” shall have the meaning ascribed to such term in the Merger Agreement.

         

        “Exchange Act” shall mean the Securities Exchange Act of 1934, as it may be amended from time to time.

         

        
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        “Exchange Agreement” shall mean that certain exchange agreement, dated as of [●], 2021, by and among Packable Commerce, Inc., a Delaware corporation,
          Packable Holdings, LLC, a Delaware limited liability company, and the holders from time to time party thereto.

         

        “Form S-1” shall have the meaning given in subsection 2.1.1.

         

        “Form S-1 Shelf” shall have the meaning given in subsection 2.1.6.

         

        “Form S-3” shall have the meaning given in subsection 2.3.

         

        “Form S-3 Shelf” shall have the meaning given in subsection 2.1.6.

         

        “Founder Shares Lock-up Period” shall mean, with respect to the Common Stock held by the Sponsor from and after the closing of the
          Business Combination, the period ending on the earlier of (A) one year after the date hereof or (B) subsequent to the date hereof, (x) if the last reported sale price of the Common Stock equals or exceeds $12.00 per share (as adjusted for share
          splits, share dividends, rights issuances, subdivisions, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after the date of the closing of the Business
          Combination or (y) in any case, if, after the date hereof, the Company completes a liquidation, merger, amalgamation, share exchange, reorganization or other similar transaction that results in all of the Company’s public shareholders having the
          right to exchange their shares of common stock for cash, securities or other property.

         

        “Holders” shall have the meaning given in the Preamble.

         

        “Insider Letter” shall mean that certain letter agreement, dated as of December 2, 2020, by and among the Company, the Sponsor and each
          of the Company’s officers and directors.

         

        “LLC Agreement” shall mean that certain Amended and Restated Limited Liability Company Agreement of Packable Holdings, LLC, dated as of
          [-], 2021.

         

        “Maximum Number of Securities” shall have the meaning given in subsection 2.1.4.

         

        “Merger Agreement” shall have the meaning set forth in the Recitals hereto.

         

        “Minimum Demand Threshold” shall mean $25.0 million.

         

        “Misstatement” shall mean an untrue statement of a material fact or an omission to state a material fact required to be stated in a
          Registration Statement or Prospectus, or necessary to make the statements in a Registration Statement or Prospectus (in the light of the circumstances under which they were made) not misleading.

         

        “Original Agreement” shall have the meaning set forth in the Recitals hereto.

         

        “Permitted Transferees” shall mean any person or entity to whom a Holder of Registrable Securities is permitted to transfer such
          Registrable Securities prior to the expiration of the Founder Shares Lock-up Period, Private Placement Lock-up Period or any other applicable lock-up period, as the case may be, under the Insider Letter, the Private Placement Warrants Purchase
          Agreement, this Agreement and any other applicable agreement between the Sponsor and the Company, and to any transferee thereafter.

         

        
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        “Piggyback Registration” shall have the meaning given in subsection 2.2.1.

         

        “Private Placement Lock-up Period” shall mean, with respect to Private Placement Warrants, that are held by the initial purchasers of
          such Private Placement Warrants or their Permitted Transferees, and the shares of Common Stock issuable upon the exercise of the Private Placement Warrants, that are held by the initial purchasers of the Private Placement Warrants or their
          Permitted Transferees, the period ending 30 days after the completion of the Business Combination.

         

        “Private Placement Warrants” shall mean the 5,000,000 warrants purchased on a private placement occurring simultaneously with the
          closing of the Company’s initial public offering.

         

        “Private Placement Warrants Purchase Agreement” that certain Private Placement Warrants Purchase Agreement pursuant to which the
          Sponsor agreed to purchase the Private Placement Warrants.

         

        “Pro Rata” shall have the meaning given in subsection 2.1.4.

         

        “Prospectus” shall mean the prospectus included in any Registration Statement, as supplemented by any and all prospectus supplements
          and as amended by any and all post-effective amendments and including all material incorporated by reference in such prospectus.

         

        “Registrable Security” shall mean (a) the shares of Common Stock, (b) the Private Placement Warrants (including any shares of Common
          Stock issued or issuable upon the exercise of any such Private Placement Warrants), (c) any outstanding shares of Common Stock or any other equity security (including the shares of Common Stock issued or issuable upon the exercise of any other
          equity security or upon an Exchange (as defined in the Exchange Agreement) in accordance with the Exchange Agreement) of the Company held by a Holder as of the date of this Agreement, (d) any shares of the Company issued or to be issued to any
          Holders in connection with the Business Combination, including any Earnout Shares (as defined in the Merger Agreement) or other shares of the Company that may become issuable pursuant to the terms and conditions of the Merger Agreement, including
          upon settlement of any Surviving Pubco Class A RSRs (as defined in the Merger Agreement) or Surviving Pubco Class B RSRs (as defined in the Merger Agreement), (e) any shares of Common Stock issuable upon the exercise, conversion or exchange of
          Common Stock Equivalents, and (f) any other equity security of the Company issued or issuable with respect to any such shares of Common Stock or Common Stock Equivalents by way of a share dividend or share split or in connection with a
          combination of shares, recapitalization, merger, consolidation or reorganization; provided, however, that, as to any particular Registrable Security, such securities shall cease to be Registrable Securities when: (A) a
          Registration Statement with respect to the sale of such securities shall have become effective under the Securities Act and such securities shall have been sold, transferred, disposed of or exchanged in accordance with such Registration
          Statement; (B) such securities shall have been otherwise transferred, new certificates or book entries credits for such securities not bearing a legend restricting further transfer shall have been delivered by the Company and subsequent public
          distribution of such securities shall not require registration under the Securities Act; (C) such securities shall have ceased to be outstanding; (D) such securities may be sold without registration pursuant to Rule 144 promulgated under the
          Securities Act (or any successor rule promulgated thereafter by the Commission) (but with no volume, manner of sale or other restrictions or limitations); or (E) such securities have been sold to, or through, a broker, dealer or underwriter in a
          public distribution or other public securities transaction. Notwithstanding the foregoing, Registrable Securities shall not include any securities acquired by any Holder pursuant to the Convertible Notes or the PIPE Subscription Agreements (each
          as defined in the Merger Agreement).

         

        
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        “Registration” shall mean a registration effected by preparing and filing a registration statement or similar document in compliance
          with the requirements of the Securities Act, and the applicable rules and regulations promulgated thereunder, and such registration statement becoming effective.

         

        “Registration Expenses” shall mean the out-of-pocket expenses of a Registration, including, without limitation, the following:

         

        (A) all registration and filing fees (including fees with respect to filings required to be made with the Financial Industry Regulatory Authority, Inc.) and any securities exchange on which the
          Common Stock are then listed;

         

        (B) fees and expenses of compliance with securities or blue sky laws (including reasonable and documented fees and disbursements of counsel for the Underwriters in connection with blue sky
          qualifications of Registrable Securities);

         

        (C) reasonable and documented printing, messenger, telephone and delivery expenses;

         

        (D) reasonable and documented fees and disbursements of counsel for the Company;

         

        (E) reasonable and documented fees and disbursements of all independent registered public accountants of the Company incurred specifically in connection with such Registration; and

         

        (F) reasonable and documented fees and expenses of one (1) legal counsel selected by the majority-in-interest of the Demanding Holders initiating a Demand Registration to be registered for offer
          and sale in the applicable Registration.

         

        “Registration Statement” shall mean any registration statement that covers the Registrable Securities pursuant to the provisions of
          this Agreement, including the Prospectus included in such registration statement, amendments (including post-effective amendments) and supplements to such registration statement, and all exhibits to and all material incorporated by reference in
          such registration statement.

         

        “Requesting Holder” shall have the meaning given in subsection 2.1.1.

         

        “Restricted Securities” shall have the meaning given in subsection 3.6.1.

         

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

         

        
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        “Series B Preferred Units” shall have the meaning ascribed to such term in the LLC Agreement.

         

        “Sponsor” shall have the meaning given in the Recitals hereto.

         

        “Underwriter” shall mean a securities dealer who purchases any Registrable Securities as principal in an Underwritten Offering and not
          as part of such dealer’s market-making activities.

         

        “Underwritten Registration” or “Underwritten Offering” shall mean a
          Registration in which securities of the Company are sold to an Underwriter in a firm commitment underwriting for distribution to the public, including an offering and/or sale of Registrable Securities by any Holder in a block trade or on an
          underwritten basis (whether firm commitment or otherwise) without substantial marketing efforts prior to pricing, including, without limitation, a same day trade, overnight trade or similar transaction, but excluding a variable price reoffer.

         

        “Working Capital Warrants” means up to $1,500,000 of loans which pursuant to the Original Agreement may be convertible into private
          placement-equivalent warrants at a price of $1.50 per warrant at the option of the lender.

         

        “Units” shall mean Surviving Company Membership Units as defined in the Merger Agreement.

         

        ARTICLE II

         

        REGISTRATIONS

         

        2.1          Demand Registration.

         

        2.1.1          Request for Registration. Subject to the provisions of subsection 2.1.4, subsection

              2.1.6 and Section 2.4 hereof, at any time and from time to time on or after the date the Company consummates the Business Combination, (i) the
          majority-in-interest of the Holders of the then-outstanding number of Registrable Securities (the “Majority Demanding Holders”) or (ii)
          Continuing Members holding a majority of the Registrable Securities issued at the Effective Time to the holders of Series B Preferred Units (the “Continuing

            Demanding Holders” and, together with the Majority Demanding Holders, the “Demanding Holders”), in each case with a total offering
          price reasonably expected to exceed, in the aggregate, the Minimum Demand Threshold, may make a written demand for Registration of all or part of their Registrable Securities, which written demand shall describe the amount and type of securities
          to be included in such Registration and the intended method(s) of distribution thereof (such written demand, a “Demand Registration”). The
          Company shall, within ten (10) days of the Company’s receipt of the Demand Registration, notify, in writing, all other Holders of Registrable Securities of such demand, and each Holder of Registrable Securities who thereafter wishes to include
          all or a portion of such Holder’s Registrable Securities in a Registration pursuant to a Demand Registration (each such Holder that includes all or a portion of such Holder’s Registrable Securities in such Registration, a “Requesting Holder”) shall so notify the Company, in writing, within five (5) days after the receipt by the Holder of the notice from the Company.
          Upon receipt by the Company of any such written notification from a Requesting Holder(s) to the Company, such Requesting Holder(s) shall be entitled to have their Registrable Securities included in a Registration pursuant to a Demand Registration
          and the Company shall (a) file a Registration Statement in respect of all Registrable Securities requested by the Demanding Holders and Requesting Holder(s) pursuant such Demand Registration, not more than forty five (45) days immediately after
          the Company’s receipt of the Demand Registration, and (b) shall use its reasonable best efforts to cause effectiveness thereof as soon as practicable thereafter. Under no circumstances shall the Company be obligated to effect more than an
          aggregate of four (4) Registrations pursuant to a Demand Registration initiated by one or more Holders; provided, however,
          that a Registration shall not be counted for such purposes unless a Form S-1 or any similar long-form registration statement that may be available at such time (“Form S-1”) has become effective and all of the Registrable Securities requested by the Requesting Holders to be registered on behalf of the Requesting Holders in such Form S-1 Registration have been sold, in
          accordance with Section 3.1 of this Agreement.

         

        
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        2.1.2           Effective Registration. Notwithstanding the provisions of subsection 2.1.1 above or any other part of this Agreement, a Registration pursuant to a Demand Registration shall not count as a Registration unless and until (i) the
          Registration Statement filed with the Commission with respect to a Registration pursuant to a Demand Registration has been declared effective by the Commission and (ii) the Company has complied with all of its obligations under this Agreement
          with respect thereto; provided, further, that if, after such Registration Statement has been
          declared effective, an offering of Registrable Securities in a Registration pursuant to a Demand Registration is subsequently interfered with by any stop order or injunction of the Commission, federal or state court or any other governmental
          agency the Registration Statement with respect to such Registration shall be deemed not to have been declared effective, unless and until, (i) such stop order or injunction is removed, rescinded or otherwise terminated, and (ii) a
          majority-in-interest of the Demanding Holders initiating such Demand Registration thereafter affirmatively elect to continue with such Registration and accordingly notify the Company in writing, but in no event later than five (5) days, of such
          election; and provided, further, that the Company shall not be obligated or required to file another
          Registration Statement until the Registration Statement that has been previously filed with respect to a Registration pursuant to a Demand Registration becomes effective or is subsequently terminated.

         

        2.1.3          Underwritten Offering.
          Subject to the provisions of subsection 2.1.4, subsection 2.1.6 and Section 2.4 hereof, if a majority-in-interest of the Demanding Holders so elect and such Demanding Holders advise the Company as part of their Demand Registration that the offering of the
          Registrable Securities pursuant to such Demand Registration shall be in the form of an Underwritten Offering, then the right of such Demanding Holder or Requesting Holder (if any) to include its Registrable Securities in such Registration shall
          be conditioned upon such Holder’s participation in such Underwritten Offering and the inclusion of such Holder’s Registrable Securities in such Underwritten Offering to the extent provided herein; provided that, other than with respect to
          Underwritten Shelf Takedowns, such Demanding Holder(s) (a) reasonably expect aggregate gross proceeds in excess of the Minimum Demand Threshold from such Underwritten Offerings (it being understood that the Company shall not be required to
          conduct more than two Underwritten Offerings where the expected aggregate proceeds are below $50,000,000 but in excess of the Minimum Demand Threshold in any 12-month period) or (b) reasonably expects to sell all of the Registrable Securities
          held by such Holder in such Underwritten Offering but in no event less than $15,000,000 in aggregate gross proceeds. All such Holders proposing to distribute their Registrable Securities through an Underwritten Offering under this subsection 2.1.3 or subsection 2.1.6 shall enter into an underwriting agreement in customary form with
          the Underwriter(s) selected for such Underwritten Offering by the majority-in-interest of the Demanding Holders initiating the Demand Registration.  Notwithstanding the provisions of subsection

              2.1.1 above, no Requesting Holder shall be entitled to have any Registrable Securities included in an Underwritten Offering to the extent that such Registrable Securities must be exchanged for shares of Common Stock pursuant to the
          Exchange Agreement and such exchange is not timely permitted by the Exchange Agreement.

         

        
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        2.1.4          Reduction of Underwritten Offering. If the managing Underwriter or
          Underwriters in an Underwritten Registration pursuant to a Demand Registration, in good faith, advises the Company and the Demanding Holders in writing that the dollar amount or number of Registrable Securities that the Demanding Holders and the
          Requesting Holders (if any) desire to sell, taken together with all other shares of Common Stock or other equity securities that the Company desires to sell and the shares of Common Stock, if any, as to which a Registration has been requested
          pursuant to separate written contractual piggy-back registration rights held by any other shareholders who desire to sell, exceeds the maximum dollar amount or maximum number of equity securities that can be sold in the Underwritten Offering
          without adversely affecting the proposed offering price, the timing, the distribution method, or the probability of success of such offering (such maximum dollar amount or maximum number of such securities, as applicable, the “Maximum Number of Securities”), then the Company shall include in such Underwritten Offering, as follows: (A) in the case of a Demand Registration
          or an Underwritten Shelf Takedown, in each case requested by Holders other than the Continuing Demanding Holders, (i) first, the Registrable Securities of the Demanding Holders and the Requesting Holders (if any) (pro rata based on the respective
          number of Registrable Securities that each Demanding Holder and Requesting Holder (if any) has requested be included in such Underwritten Registration and the aggregate number of Registrable Securities that the Demanding Holders and Requesting
          Holders have requested be included in such Underwritten Registration (such proportion is referred to herein as “Pro Rata”)) that can be sold
          without exceeding the Maximum Number of Securities; (ii) second, to the extent that the Maximum Number of Securities has not been reached under the foregoing clause (i), the shares of Common Stock or other equity securities that the Company
          desires to sell, which can be sold without exceeding the Maximum Number of Securities; and (iii) third, to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses (i) and (ii), the shares of Common Stock
          or other equity securities of other persons or entities that the Company is obligated to register in a Registration pursuant to separate written contractual arrangements with such persons and that can be sold without exceeding the Maximum Number
          of Securities and (B) in the case of a Demand Registration or an Underwritten Shelf Takedown, in each case requested by the Continuing Demanding Holders, (i) first, the Registrable Securities of the Continuing Demanding Holders (Pro Rata based on
          the respective number of Registrable Securities that each Continuing Demanding Holder has so requested) that can be sold without exceeding the Maximum Number of Securities; (ii) second, to the extent that the Maximum Number of Securities has not
          been reached under the foregoing clause (i), the Registrable Securities of the Requesting Holders (if any) (Pro Rata based on the respective number of Registrable Securities that each Requesting Holder has so requested) that can be sold without
          exceeding the Maximum Number of Securities; (iii) third, to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses (i) and (ii), the shares of Common Stock or other equity securities that the Company
          desires to sell, which can be sold without exceeding the Maximum Number of Securities; and (iv) fourth, to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses (i), (ii) and (iii), the shares of Common
          Stock or other equity securities of other persons or entities that the Company is obligated to register in a Registration pursuant to separate written contractual arrangements with such persons and that can be sold without exceeding the Maximum
          Number of Securities.

         

        
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        2.1.5          Demand Registration Withdrawal. A majority-in-interest of the
          Demanding Holders initiating a Demand Registration pursuant to a Registration under subsection 2.1.1 or an Underwritten Shelf Takedown under subsection 2.1.6 shall have the right to withdraw from a Registration pursuant to such Demand Registration or Underwritten Shelf Takedown for any or no reason whatsoever upon written notification
          to the Company and the Underwriter or Underwriters (if any) of their intention to withdraw from such Registration or Underwritten Shelf Takedown prior to (x) in the case of a Demand Registration not involving an Underwritten Offering, the
          effectiveness of the Registration Statement filed with the Commission with respect to the Registration of their Registrable Securities pursuant to such Demand Registration or (y) in the case of a Demand Registration involving an Underwritten
          Offering or an Underwritten Shelf Takedown, the pricing of such Underwritten Offering; provided, however,
          that upon withdrawal by a majority-in-interest of the Demanding Holders initiating a Demand Registration or Underwritten Shelf Takedown, the Company shall cease all efforts to secure effectiveness of the applicable Registration Statement or
          complete the Underwritten Offering, as applicable. Notwithstanding anything to the contrary in this Agreement, the Company shall be responsible for the Registration Expenses incurred in connection with a Registration pursuant to a Demand
          Registration or an Underwritten Shelf Takedown prior to its withdrawal under this subsection 2.1.5.

         

        2.1.6           Shelf Registration. The Company shall file within 45 days of the Closing, and use commercially reasonable efforts to cause to be declared effective as soon as practicable thereafter, a Registration Statement for a Shelf Registration on Form
            S-1 (the “Form S-1 Shelf”) or, if the Company is eligible to use a
            Registration Statement on Form S-3, a Shelf Registration on Form S-3 (the “Form S-3 Shelf” and together with the Form S-1 Shelf, each a “Shelf”),

            in each case, covering the resale of all the Registrable Securities (determined as of two business days prior to such filing) on a delayed or continuous basis. Such Shelf shall provide for the resale of the Registrable Securities included
            therein pursuant to any method or combination of methods legally available to, and requested by, any Holder named therein. Notwithstanding anything to the contrary herein, to the extent there is an active Shelf under this subsection 2.1.6, covering a Holder’s or Holders’ Registrable Securities, such Holder shall not have rights to make a
            Demand Registration with respect to subsection 2.1.1 other than with respect to an Underwritten Offering
            from such Shelf. Notwithstanding anything to the contrary herein, to the extent there is an active Shelf (including pursuant to a Demand Registration or pursuant to Section
              2.3 hereof) (or, in the event that the Company is a WKSI and a Shelf would be automatically effective upon filing), the Demanding Holders may request an Underwritten
            Offering of such Holders’ Registrable Securities from such Shelf (or, in the event that the Company is a WKSI, the concurrent filing of a Shelf and Underwritten Offering from such Shelf) (each an “Underwritten Shelf Takedown”).  All requests for Underwritten Shelf Takedowns shall be made by giving written notice to
            the Company (the “Demand Shelf Takedown Notice”), which notice shall
            specify the approximate number of Registrable Securities proposed to be sold in the Underwritten Shelf Takedown. Upon receipt of the Demand Shelf Takedown Notice, the Company shall give written notice of such requested Underwritten Shelf
            Takedown to all other Holders of Registrable Securities included on such Shelf (the “Company Shelf Takedown Notice”) no later than two (2) business days after receipt of such Demand Shelf Takedown Notice and shall include in such Underwritten Shelf Takedown (i) all Registrable Securities requested by the
            Demanding Holders and (ii) all Registrable Securities with respect to which the Company has received written requests for inclusion therein (which requests shall be revocable only with the consent of the Demanding Holders) within two (2)
            business days (one (1) business day in the event the Demanding Holders requested a non-marketed block trade) after sending the Company Shelf Takedown Notice (or such earlier time at which all Holders that have Registrable Securities included on
            such Shelf Registration Statement have provided responses to the Company Shelf Takedown Notice), and effect such Underwritten Shelf Takedown as soon as practicable; provided, however, that no Requesting Holder shall be entitled
            to have any Registrable Securities included in such Underwritten Shelf Takedown to the extent that such Registrable Securities must be exchanged for shares of Common Stock pursuant to the Exchange Agreement.  Subject to the provisions of subsection 2.1.4, Holders shall be entitled to an unlimited number of Underwritten Shelf Takedowns. The Company shall
            not be obligated to effect, or to take any action to effect, any Underwritten Shelf Takedown pursuant to this subsection 2.1.6 (i) during the period that is thirty (30) days prior to the Company’s good faith
            estimate of the date of the filing of, and ending on a date ninety (90) days after the effective date of, a Company initiated Registration and provided that the Company is actively employing, in good faith, commercially reasonable efforts to
            cause such registration statement to become effective; (ii) if the Company has effected an Underwritten Shelf Takedown less than 90 days prior to the date of such requested Underwritten Shelf Takedown or the Company has effected three such
            Underwritten Shelf Takedowns in the preceding twelve (12) months; or (iii) if the anticipated aggregate offering price of the Registrable Securities to be included in the Underwritten Shelf Takedown is less than $5,000,000.

         

        
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        2.1.7         Holder Information Required for Participation in Underwritten Offering.
          At least five (5) business days prior to the first anticipated filing date of a Registration Statement pursuant to this Section 2, the Company shall use reasonable best efforts to notify each Holder in writing (which may be by email) of the
          information reasonably necessary about the Holder to include such Holder’s Registrable Securities in such Registration Statement. Notwithstanding anything else in this Agreement, the Company shall not be obligated to include such Holder’s
          Registrable Securities to the extent the Company has not received such information, and received any other reasonably requested agreements or certificates, on or prior to the second (2nd) business day prior to the first anticipated filing date of
          a Registration Statement pursuant to this Section 2.

         

        2.2          Piggyback Registration.

         

        2.2.1           Piggyback Rights. If, at any time on or after the date hereof, the Company proposes to file a Registration Statement under the Securities Act with respect to an offering of equity securities, or securities or
          other obligations exercisable or exchangeable for, or convertible into equity securities, for its own account or for the account of shareholders of the Company (or by the Company and by the shareholders of the Company), other than a Registration
          Statement (i) filed in connection with any employee share option or other benefit plan, (ii) for a rights offering or an exchange offer or offering of securities solely to the Company’s existing shareholders, (iii) for an offering of debt that is
          convertible into equity securities of the Company, (iv) for a dividend reinvestment plan or (v) filed in connection with a Demand Registration pursuant to Section 2.1 or Section 2.3 hereof (and, for the avoidance of doubt, other than in connection with an Underwritten Shelf Takedown), then the Company shall give written notice of such proposed
          filing to all of the Holders of Registrable Securities as soon as practicable but not less than ten (10) days before the anticipated filing date of such Registration Statement, which notice shall (A) describe the amount and type of securities to
          be included in such offering, the intended method(s) of distribution, and the name of the proposed managing Underwriter or Underwriters, if any, in such offering, and (B) offer to all of the Holders of Registrable Securities the opportunity to
          register the sale of such number of Registrable Securities as such Holders may request in writing within five (5) days after receipt of such written notice (such Registration a “Piggyback Registration”). The Company shall, in good faith, cause such Registrable Securities to be included in such Piggyback Registration and shall use its reasonable best efforts to cause the
          managing Underwriter or Underwriters of a proposed Underwritten Offering to permit the Registrable Securities requested by the Holders pursuant to this subsection 2.2.1 to
          be included in a Piggyback Registration on the same terms and conditions as any similar securities of the Company included in such Registration and to permit the sale or other disposition of such Registrable Securities in accordance with the
          intended method(s) of distribution thereof. All such Holders proposing to distribute their Registrable Securities through an Underwritten Offering under this subsection 2.2.1
          shall enter into an underwriting agreement in customary form with the Underwriter(s) selected for such Underwritten Offering by the Company.

         

        
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        2.2.2           Reduction of Piggyback Registration. If the managing Underwriter
          or Underwriters in an Underwritten Registration that is to be a Piggyback Registration, in good faith, advises the Company and the Holders of Registrable Securities participating in the Piggyback Registration in writing that the dollar amount or
          number of the shares of Common Stock that the Company desires to sell, taken together with (i) the shares of Common Stock, if any, as to which Registration has been demanded pursuant to separate written contractual arrangements with persons or
          entities other than the Holders of Registrable Securities hereunder (ii) the Registrable Securities as to which registration has been requested pursuant to Section 2.2
          hereof, and (iii) the shares of Common Stock, if any, as to which Registration has been requested pursuant to separate written contractual piggy-back registration rights of other shareholders of the Company, exceeds the Maximum Number of
          Securities, then:

         

        (a)          If the Registration is undertaken for the Company’s account, the Company shall include in any such Registration (A) first, the shares of
          Common Stock or other equity securities that the Company desires to sell, which can be sold without exceeding the Maximum Number of Securities; (B) second, to the extent that the Maximum Number of Securities has not been reached under the
          foregoing clause (A), the Registrable Securities of Holders exercising their rights to register their Registrable Securities pursuant to subsection 2.2.1 hereof (pro rata
          based on the respective number of Registrable Securities that such Holder has requested be included in such Registration), which can be sold without exceeding the Maximum Number of Securities; and (C) third, to the extent that the Maximum Number
          of Securities has not been reached under the foregoing clauses (A) and (B), the shares of Common Stock, if any, as to which Registration has been requested or pursuant to written contractual piggy-back registration rights of other shareholders of
          the Company, which can be sold without exceeding the Maximum Number of Securities;

         

        
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        (b)          If the Registration is pursuant to a request by persons or entities other than the Holders of Registrable Securities, then the Company shall
          include in any such Registration (A) first, the shares of Common Stock or other equity securities, if any, of such requesting persons or entities, other than the Holders of Registrable Securities, which can be sold without exceeding the Maximum
          Number of Securities; (B) second, to the extent that the Maximum Number of Securities has not been reached under the foregoing clause (A), the Registrable Securities of Holders exercising their rights to register their Registrable Securities
          pursuant to subsection 2.2.1, pro rata based on the respective number of Registrable Securities that each Holder has requested be included in such Underwritten Registration
          and the aggregate number of Registrable Securities that the Holders have requested to be included in such Underwritten Registration, which can be sold without exceeding the Maximum Number of Securities; (C) third, to the extent that the Maximum
          Number of Securities has not been reached under the foregoing clauses (A) and (B), the shares of Common Stock or other equity securities that the Company desires to sell, which can be sold without exceeding the Maximum Number of Securities; and
          (D) fourth, to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses (A), (B) and (C), the shares of Common Stock or other equity securities for the account of other persons or entities that the Company
          is obligated to register pursuant to separate written contractual arrangements with such persons or entities, which can be sold without exceeding the Maximum Number of Securities.

         

        2.2.3          Piggyback Registration
              Withdrawal. Any Holder of Registrable Securities shall have the right to withdraw from a Piggyback Registration for any or no reason whatsoever upon written notification to the Company and the Underwriter or Underwriters (if any)
          of his, her or its intention to withdraw from such Piggyback Registration at least two (2) business days prior to the effectiveness of the Registration Statement filed with the Commission with respect to such Piggyback Registration (or in the
          case of an Underwritten Registration pursuant to Rule 415, at least two (2) business days prior to the time of pricing of the applicable offering). The Company (whether on its own good faith determination or as the result of a request for
          withdrawal by persons pursuant to separate written contractual obligations) may withdraw a Registration Statement filed with the Commission in connection with a Piggyback Registration at any time prior to the effectiveness of such Registration
          Statement. Notwithstanding anything to the contrary in this Agreement, the Company shall be responsible for the Registration Expenses incurred in connection with the Piggyback Registration prior to its withdrawal under this subsection 2.2.3.

         

        2.2.4          Unlimited Piggyback Registration Rights. For purposes of clarity,
          any Registration effected pursuant to Section 2.2 hereof shall not be counted as a Registration pursuant to a Demand Registration effected under Section 2.1 hereof.

         

        
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        2.3         Registrations on Form S-3. The (i) majority-in-interest of the Holders
          of Registrable Securities or (ii) Continuing Members holding a majority of the Registrable Securities issued at the Effective Time to the holders of Series B Preferred Units (the “Form S-3 Demanding Holders”), may at any time, and from time to time, request in writing that the Company, pursuant to Rule 415 under the Securities Act (or any successor rule promulgated
          thereafter by the Commission), register the resale of any or all of their Registrable Securities on Form S-3 or any similar short form registration statement that may be available at such time (“Form S-3”); provided, however,
          that the Company shall not be obligated to effect such request through an Underwritten Offering (other than an Underwritten Shelf Takedown under Section 2.1.6 hereof).
          Within five (5) days of the Company’s receipt of a written request from a Holder or Holders of Registrable Securities for a Registration on Form S-3, the Company shall promptly give written notice of the proposed Registration on Form S-3 to all
          other Holders of Registrable Securities, and each Holder of Registrable Securities who thereafter wishes to include all or a portion of such Holder’s Registrable Securities in such Registration on Form S-3 shall so notify the Company, in writing,
          within ten (10) days after the receipt by the Holder of the notice from the Company. As soon as practicable thereafter, but not more than twelve (12) days after the Company’s initial receipt of such written request for a Registration on Form S-3,
          the Company shall register all or such portion of such Holder’s Registrable Securities as are specified in such written request, together with all or such portion of Registrable Securities of any other Holder or Holders joining in such request as
          are specified in the written notification given by such Holder or Holders; provided, however, that
          the Company shall not be obligated to effect any such Registration pursuant to Section 2.3 hereof if (a) a Form S-3 that includes the Registrable Securities of the Form S-3
          Demanding Holders is currently effective, (b) a Form S-3 is not available for such offering; or (c) the Holders of Registrable Securities, together with the Holders of any other equity securities of the Company entitled to inclusion in such
          Registration, propose to sell the Registrable Securities and such other equity securities (if any) at any aggregate price to the public of less than $25,000,000.

         

        2.4          Restrictions on Registration
              Rights. If (A) during the period starting with the date thirty (30) days prior to the Company’s good faith estimate of the date of the filing of, and ending on a date ninety (90) days after the effective date of, a Company
          initiated Registration and provided that the Company has delivered written notice to the Holders prior to receipt of a Demand Registration pursuant to subsection 2.1.1 and
          it continues to actively employ, in good faith, all reasonable efforts to cause the applicable Registration Statement to become effective; (B) the Holders have requested an Underwritten Registration and the Company and the Holders are unable to
          obtain the commitment of underwriters to firmly underwrite the offer; or (C) in the good faith judgment of the Board such Registration would be seriously detrimental to the Company and the Board concludes as a result that it is essential to defer
          the filing of such Registration Statement at such time, then in each case the Company shall furnish to such Holders a certificate signed by the Chairman of the Board stating that in the good faith judgment of the Board it would be seriously
          detrimental to the Company for such Registration Statement to be filed in the near future and that it is therefore essential to defer the filing of such Registration Statement. In such event, the Company shall have the right to defer such filing
          for a period of not more than thirty (30) days; provided, however, that the Company shall not defer
          its obligation in this manner more than once in any 12-month period.

         

        2.4.1          Lock-Up. Notwithstanding anything to the contrary in this
          Agreement, the Company shall not be obligated to effect any Demand Registration or Piggyback Registration of (i) any shares of Common Stock subject to the Founder Shares Lock-Up Period prior to the Founder Shares Lock-Up Period applicable to such
          shares of Common Stock or (ii) any Private Placement Warrants or Working Capital Warrants during the Private Placement Lock-Up Period. Nothing in this Section 2.4 shall
          limit the Company’s obligation to register all of the Registrable Securities, including such shares of Common Stock subject to the Founder Shares Lock-Up Period, Private Placement Warrants and Working Capital Warrants, on the Shelf Registration
          Statement pursuant to Section 2.4.

         

        
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        ARTICLE III

         

        COMPANY PROCEDURES

         

        3.1          General Procedures. If
          at any time on or after the date hereof the Company is required to effect the Registration of Registrable Securities, the Company shall use its reasonable best efforts to effect such Registration to permit the sale of such Registrable Securities
          in accordance with the intended plan of distribution thereof, and pursuant thereto the Company shall, as expeditiously as possible:

         

        3.1.1          prepare and file with the Commission within fifteen (15) business days a Registration Statement with respect to such Registrable Securities
          and use its reasonable best efforts to cause such Registration Statement to become effective and remain effective until all Registrable Securities covered by such Registration Statement have been sold;

         

        3.1.2         prepare and file with the Commission such amendments and post-effective amendments to the Registration Statement, and such supplements to the
          Prospectus, as may be reasonably requested by the majority-in-interest of the Holders with Registrable Securities registered on such Registration Statement or any Underwriter of Registrable Securities or as may be required by the rules,
          regulations or instructions applicable to the registration form used by the Company or by the Securities Act or rules and regulations thereunder to keep the Registration Statement effective until all Registrable Securities covered by such
          Registration Statement are sold in accordance with the intended plan of distribution set forth in such Registration Statement or supplement to the Prospectus;

         

        3.1.3           prior to filing a Registration Statement or the Prospectus, or any amendment or supplement thereto, furnish without charge to the
          Underwriters, if any, and the Holders of Registrable Securities included in such Registration, and such Holders’ legal counsel, copies of such Registration Statement as proposed to be filed, each amendment and supplement to such Registration
          Statement (in each case including all exhibits thereto and documents incorporated by reference therein), the Prospectus included in such Registration Statement (including each preliminary Prospectus), and such other documents as the Underwriters
          and the Holders of Registrable Securities included in such Registration or the legal counsel for any such Holders may request in order to facilitate the disposition of the Registrable Securities owned by such Holders;

         

        3.1.4          prior to any public offering of Registrable Securities, use its reasonable best efforts to (i) register or qualify the Registrable
          Securities covered by the Registration Statement under such securities or “blue sky” laws of such jurisdictions in the United States as the Holders of Registrable Securities included in such Registration Statement (in light of their intended plan
          of distribution) may request and (ii) take such action necessary to cause such Registrable Securities covered by the Registration Statement to be registered with or approved by such other governmental authorities as may be necessary by virtue of
          the business and operations of the Company and do any and all other acts and things that may be necessary or advisable to enable the Holders of Registrable Securities included in such Registration Statement to consummate the disposition of such
          Registrable Securities in such jurisdictions; provided, however, that the Company shall not be
          required to qualify generally to do business in any jurisdiction where it would not otherwise be required to qualify or take any action to which it would be subject to general service of process or taxation in any such jurisdiction where it is
          not then otherwise so subject;

         

        
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        3.1.5          use its reasonable best efforts to cause all such Registrable Securities to be listed on each securities exchange or automated quotation
          system on which similar securities issued by the Company are then listed;

         

        3.1.6           provide a transfer agent or warrant agent, as applicable, and registrar for all such Registrable Securities no later than the effective
          date of such Registration Statement;

         

        3.1.7          advise each seller of such Registrable Securities, promptly after it shall receive notice or obtain knowledge thereof, of the issuance of
          any stop order by the Commission suspending the effectiveness of such Registration Statement or the initiation or threatening of any proceeding for such purpose and promptly use its reasonable best efforts to prevent the issuance of any stop
          order or to obtain its withdrawal if such stop order should be issued;

         

        3.1.8          at least three (3) days prior to the filing of any Registration Statement or Prospectus or any amendment or supplement to such Registration
          Statement furnish a copy thereof to each seller of such Registrable Securities and its counsel, including, without limitation, providing copies promptly upon receipt of any comment letters received with respect to any such Registration Statement
          or Prospectus;

         

        3.1.9          notify the Holders at any time when a Prospectus relating to such Registration Statement is required to be delivered under the Securities
          Act, of the happening of any event as a result of which the Prospectus included in such Registration Statement, as then in effect, includes a Misstatement, and then to correct such Misstatement as set forth in Section 3.4 hereof;

         

        3.1.10         permit a representative of the Holders (such representative to be selected by a majority of the participating Holders), the Underwriters, if
          any, and any attorney or accountant retained by such Holders or Underwriter to participate, at each such person’s own expense, in the preparation of the Registration Statement, and cause the Company’s officers, directors and employees to supply
          all information reasonably requested by any such representative, Underwriter, attorney or accountant in connection with the Registration; provided, however, the Company may not include the name of any Holder or Underwriter or any information regarding any Holder or Underwriter in any Registration Statement or Prospectus, any
          amendment or supplement to such Registration Statement or Prospectus, any document that is to be incorporated by reference into such Registration Statement or Prospectus, or any response to any comment letter, without the prior written consent of
          such Holder or Underwriter and providing each such Holder or Underwriter a reasonable amount of time to review and comment on such applicable document, which comments the Company shall include unless contrary to applicable law;

         

        3.1.11       obtain a “cold comfort” and “bringdown” letters from the Company’s independent registered public accountants in the event of an Underwritten
          Registration that the Underwriters may rely on, in customary form and covering such matters of the type customarily covered by “cold comfort” letters as the managing Underwriter may reasonably request;

         

        
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        3.1.12          on the date the Registrable Securities are delivered for sale pursuant to such Registration, obtain an opinion and negative assurance
          letter, dated such date, of counsel representing the Company for the purposes of such Registration, addressed to the Holders, the placement agent or sales agent, if any, and the Underwriters, if any, covering such legal matters with respect to
          the Registration in respect of which such opinion is being given as the placement agent, sales agent, or Underwriter may reasonably request and as are customarily included in such opinions and negative assurance letters;

         

        3.1.13          in the event of any Underwritten Offering, enter into and perform its obligations under an underwriting agreement, in usual and customary
          form, with the managing Underwriter of such offering;

         

        3.1.14         make available to its security holders, as soon as reasonably practicable, an earnings statement covering the period of at least twelve (12)
          months beginning with the first day of the Company’s first full calendar quarter after the effective date of the Registration Statement which satisfies the provisions of Section 11(a)
          of the Securities Act and Rule 158 thereunder (or any successor rule promulgated thereafter by the Commission);

         

        3.1.15          if the Registration involves the Registration of Registrable Securities involving gross proceeds in excess of $25,000,000, use its
          reasonable best efforts to make available senior executives of the Company to participate in customary “road show” presentations that may be reasonably requested by the Underwriter in any Underwritten Offering; and

         

        3.1.16          in the case of an Underwritten Offering pursuant to Section 2.1.3,
          use its reasonable best efforts to cause each of its directors and senior executive officers to execute and deliver customary lockup agreements in such form and for such time period up to ninety (90) days as may be requested by any managing
          Underwriter(s);

         

        3.1.17          otherwise, in good faith, cooperate reasonably with, and take such customary actions as may reasonably be requested by the Holders, in
          connection with such Registration.

         

        3.2          Registration Expenses. Except as otherwise provided herein, the
          Registration Expenses of all Registrations shall be borne by the Company. It is acknowledged by the Holders that the Holders shall bear all incremental selling expenses relating to the sale of Registrable Securities, such as Underwriters’
          commissions and discounts, brokerage fees, Underwriter marketing costs and, other than as set forth in the definition of “Registration Expenses,” all reasonable and documented fees and expenses of any legal counsel representing any Holders.

         

        3.3         Requirements for Participation in Underwritten Offerings. No person or
          entity may participate in any Underwritten Offering for equity securities of the Company pursuant to a Registration initiated by the Company hereunder unless such person or entity (i) agrees to sell such person’s or entity’s securities on the
          basis provided in any underwriting arrangements approved by the Company and (ii) completes and executes all customary questionnaires, powers of attorney, indemnities, lock-up agreements, underwriting agreements and other customary documents as
          may be reasonably required under the terms of such underwriting arrangements.

         

        
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        3.4          Suspension of Sales; Adverse Disclosure. Upon receipt of written
          notice from the Company that a Registration Statement or Prospectus contains a Misstatement, each of the Holders shall forthwith discontinue disposition of Registrable Securities until he, she or it has received copies of a supplemented or
          amended Prospectus correcting the Misstatement (it being understood that the Company hereby covenants to prepare and file such supplement or amendment as soon as practicable after the time of such notice), or until he, she or it is advised in
          writing by the Company that the use of the Prospectus may be resumed. If the filing, initial effectiveness or continued use of a Registration Statement in respect of any Registration at any time would require the Company to make an Adverse
          Disclosure or would require the inclusion in such Registration Statement of financial statements that are unavailable to the Company for reasons beyond the Company’s control, the Company may, upon giving prompt written notice of such action to
          the Holders, delay the filing or initial effectiveness of, or suspend use of, such Registration Statement for the shortest period of time, but in no event more than forty five (45) days, determined in good faith by the Company to be necessary for
          such purpose. In the event the Company exercises its rights under the preceding sentence, the Holders agree to suspend, immediately upon their receipt of the notice referred to above, their use of the Prospectus relating to any Registration in
          connection with any sale or offer to sell Registrable Securities. The Company shall immediately notify the Holders of the expiration of any period during which it exercised its rights under this Section 3.4.

         

        3.5          Reporting Obligations.
          As long as any Holder shall own Registrable Securities, the Company, at all times while it shall be a reporting company under the Exchange Act, covenants to file timely (or obtain extensions in respect thereof and file within the applicable grace
          period) all reports required to be filed by the Company after the date hereof pursuant to Sections 13(a) or 15(d)
          of the Exchange Act. The Company further covenants that it shall take such further action as any Holder may reasonably request, all to the extent required from time to time to enable such Holder to sell shares of Common Stock held by such Holder
          without registration under the Securities Act within the limitation of the exemptions provided by Rule 144 promulgated under the Securities Act (or any successor rule promulgated thereafter by the Commission). Upon the request of any Holder, the
          Company shall deliver to such Holder a written certification of a duly authorized officer as to whether it has complied with such requirements.

         

        3.6          Lock-Up Restrictions.

         

        3.6.1          During the applicable Lock-Up Periods, none of the Holders shall offer, sell, contract to sell, pledge, grant any option to purchase, make
          any short sale or otherwise dispose of or distribute any shares of Common Stock that are subject to an applicable Lock-Up Period or any securities convertible into, exercisable for, exchangeable for or that represent the right to receive shares
          of Common Stock that are subject to an applicable Lock-Up Period, whether now owned or hereinafter acquired, that is owned directly by such Holder (including securities held as a custodian) or with respect to which such Holder has beneficial
          ownership within the rules and regulations of the Commission (such securities that are subject to an applicable Lock-Up Period, the “Restricted
            Securities”), other than any transfer to an affiliate of a Holder or to a Permitted Transferee, as applicable. The foregoing restriction is expressly agreed to preclude each Holder, as applicable, from engaging in any hedging or other
          transaction with respect to Restricted Securities which is designed to or which reasonably could be expected to lead to or result in a sale or disposition of the Restricted Securities even if such Restricted Securities would be disposed of by
          someone other than such Holder. Such prohibited hedging or other transactions include any short sale or any purchase, sale or grant of any right (including any put or call option) with respect to any of the Restricted Securities of the applicable
          Holder, or with respect to any security that includes, relates to, or derives any significant part of its value from such Restricted Securities.

         

        
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        ARTICLE IV

         

        INDEMNIFICATION AND CONTRIBUTION

         

        4.1          Indemnification.

         

        4.1.1          The Company agrees to indemnify, to the extent permitted by law, each Holder of Registrable
          Securities, its officers and directors and each person who controls such Holder (within the meaning of the Securities Act) against all losses, claims, damages, liabilities and expenses (including reasonable and documented attorneys’ fees) caused
          by any untrue or alleged untrue statement of material fact contained in any Registration Statement, Prospectus or preliminary Prospectus or any amendment thereof or supplement thereto or any omission or alleged omission of a material fact
          required to be stated therein or necessary to make the statements therein not misleading, except insofar as the same are caused by or contained in any information furnished in writing to the Company by such Holder expressly for use therein. The
          Company shall indemnify the Underwriters, their officers and directors and each person who controls such Underwriters (within the meaning of the Securities Act) to the same extent as provided in the foregoing with respect to the indemnification
          of the Holder.

         

        4.1.2          In connection with any Registration Statement in which a Holder of Registrable Securities is
          participating, such Holder shall furnish to the Company in writing such information and affidavits as the Company reasonably requests for use in connection with any such Registration Statement or Prospectus and, to the extent permitted by law,
          shall indemnify the Company, its directors and officers and agents and each person who controls the Company (within the meaning of the Securities Act) against any losses, claims, damages, liabilities and expenses (including without limitation
          reasonable and documented attorneys’ fees) resulting from any untrue statement of material fact contained in the Registration Statement, Prospectus or preliminary Prospectus or any amendment thereof or supplement thereto or any omission of a
          material fact required to be stated therein or necessary to make the statements therein not misleading, but only to the extent that such untrue statement or omission is contained in any information or affidavit so furnished in writing by such
          Holder expressly for use therein; provided, however, that the obligation to indemnify shall be
          several, not joint and several, among such Holders of Registrable Securities, and the total liability of each such Holder of Registrable Securities shall be in proportion to and limited to the net proceeds received by such Holder from the sale of
          Registrable Securities pursuant to such Registration Statement. The Holders of Registrable Securities shall indemnify the Underwriters, their officers, directors and each person who controls such Underwriters (within the meaning of the Securities
          Act) to the same extent as provided in the foregoing with respect to indemnification of the Company.

         

        
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        4.1.3          Any person entitled to indemnification herein shall (i) give prompt written notice to the indemnifying party of any claim with respect to
          which it seeks indemnification (provided that the failure to give prompt notice shall not impair any person’s right to indemnification hereunder to the extent such failure has not materially prejudiced the indemnifying party) and (ii) unless in
          such indemnified party’s reasonable judgment a conflict of interest between such indemnified and indemnifying parties may exist with respect to such claim, permit such indemnifying party to assume the defense of such claim with counsel reasonably
          satisfactory to the indemnified party. If such defense is assumed, the indemnifying party shall not be subject to any liability for any settlement made by the indemnified party without its consent (but such consent shall not be unreasonably
          withheld). An indemnifying party who is not entitled to, or elects not to, assume the defense of a claim shall not be obligated to pay the fees and expenses of more than one counsel (plus local counsel) for all parties indemnified by such
          indemnifying party with respect to such claim, unless in the reasonable judgment of any indemnified party a conflict of interest may exist between such indemnified party and any other of such indemnified parties with respect to such claim. No
          indemnifying party shall, without the consent of the indemnified party, consent to the entry of any judgment or enter into any settlement which cannot be settled in all respects by the payment of money (and such money is so paid by the
          indemnifying party pursuant to the terms of such settlement) or which settlement does not include as an unconditional term thereof the giving by the claimant or plaintiff to such indemnified party of a release from all liability in respect to
          such claim or litigation.

         

        4.1.4          The indemnification provided for under this Agreement shall remain in full force and effect regardless of any investigation made by or on
          behalf of the indemnified party or any officer, director or controlling person of such indemnified party and shall survive the transfer of securities. The Company and each Holder of Registrable Securities participating in an offering also agrees
          to make such provisions as are reasonably requested by any indemnified party for contribution to such party in the event the Company’s or such Holder’s indemnification is unavailable for any reason.

         

        4.1.5           If the indemnification provided under Section 4.1 hereof from the indemnifying party is unavailable or insufficient to hold harmless an indemnified party in respect of any losses, claims, damages, liabilities and expenses referred to herein, then
          the indemnifying party, in lieu of indemnifying the indemnified party, shall contribute to the amount paid or payable by the indemnified party as a result of such losses, claims, damages, liabilities and expenses in such proportion as is
          appropriate to reflect the relative fault of the indemnifying party and the indemnified party, as well as any other relevant equitable considerations. The relative fault of the indemnifying party and indemnified party shall be determined by
          reference to, among other things, whether any action in question, including any untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact, was made by, or relates to information supplied by,
          such indemnifying party or indemnified party, and the indemnifying party’s and indemnified party’s relative intent, knowledge, access to information and opportunity to correct or prevent such action; provided, however, that the liability of any Holder under this subsection
              4.1.5 shall be limited to the amount of the net proceeds received by such Holder in such offering giving rise to such liability. The amount paid or payable by a party as a result of the losses or other liabilities referred to above
          shall be deemed to include, subject to the limitations set forth in subsections 4.1.1, 4.1.2 and 4.1.3 above, any legal or other fees, charges or expenses reasonably incurred by such party in connection with any investigation or proceeding. The parties hereto agree that it
          would not be just and equitable if contribution pursuant to this subsection 4.1.5 were determined by pro rata allocation or by any other method of allocation, which does not
          take account of the equitable considerations referred to in this subsection 4.1.5. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution pursuant to this subsection 4.1.5
          from any person who was not guilty of such fraudulent misrepresentation.

         

        
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        ARTICLE V

         

        MISCELLANEOUS

         

        5.1         Notices. Any notice or
          communication under this Agreement must be in writing and given by (i) deposit in the United States mail, addressed to the party to be notified, postage prepaid and registered or certified with return receipt requested, (ii) delivery in person or
          by courier service providing evidence of delivery, or (iii) transmission by hand delivery, electronic mail, telecopy, telegram or facsimile. Each notice or communication that is mailed, delivered, or transmitted in the manner described above
          shall be deemed sufficiently given, served, sent, and received, in the case of mailed notices, on the third business day following the date on which it is mailed and, in the case of notices delivered by courier service, hand delivery, electronic
          mail, telecopy, telegram or facsimile, at such time as it is delivered to the addressee (with the delivery receipt or the affidavit of messenger) or at such time as delivery is refused by the addressee upon presentation. Any notice or
          communication under this Agreement must be addressed, if to the Company, to: [-] with copy to Cooley LLP, 55 Hudson Yards, New York, NY 10001, Attention: Sacha Ross and Nicolas H.R. Dumont, and, if to any Holder, at such Holder’s address or
          contact information as set forth in the Company’s books and records. Any party may change its address for notice at any time and from time to time by written notice to the other parties hereto, and such change of address shall become effective
          thirty (30) days after delivery of such notice as provided in this Section 5.1.

         

        5.2          Assignment; No Third Party
              Beneficiaries.

         

        5.2.1          This Agreement and the rights, duties and obligations of the Company hereunder may not be assigned or delegated by the Company in whole or
          in part.

         

        5.2.2          Prior to the expiration of the Founder Shares Lock-up Period or the Private Placement Lock-up Period, as the case may be, the Sponsor may
          not assign or delegate the Sponsor’s rights, duties or obligations under this Agreement, in whole or in part, except in connection with a transfer of Registrable Securities by the Sponsor to a Permitted Transferee but only if such Permitted
          Transferee agrees to become bound by the transfer restrictions set forth in this Agreement. Any other Holder may assign or delegate such Holder’s rights, duties or obligations under this Agreement, in whole or in part, if (i) the transferee
          receives Registrable Securities that constitute at least 1% of the Company’s Common Stock and/or Common Stock Equivalents, (ii) such transfer is not pursuant to Rule 144 under the Securities Act or a registration statement filed pursuant to this
          Agreement and (iii) the transferee agrees to become bound by the transfer restrictions set forth in this Agreement and other applicable agreements.

         

        5.2.3          This Agreement and the provisions hereof shall be binding upon and shall inure to the benefit of each of the parties and its successors and
          the permitted assigns of the Holders, which shall include Permitted Transferees.

         

        5.2.4          This Agreement shall not confer any rights or benefits on any persons that are not parties hereto, other than as expressly set forth in this
          Agreement and Section 5.2 hereof.

         

        
          20

          
            

        

        5.2.5          No assignment by any party hereto of such party’s rights, duties and obligations hereunder shall be binding upon or obligate the Company
          unless and until the Company shall have received (i) written notice of such assignment as provided in Section 5.1 hereof and (ii) the written agreement of the assignee, in a
          form reasonably satisfactory to the Company, to be bound by the terms and provisions of this Agreement (which may be accomplished by an addendum or certificate of joinder to this Agreement). Any transfer or assignment made other than as provided
          in this Section 5.2 shall be null and void.

         

        5.3          Counterparts. This Agreement may be executed in multiple counterparts
          (including facsimile or PDF counterparts), each of which shall be deemed an original, and all of which together shall constitute the same instrument, but only one of which need be produced. The words “execution,” “signed,” “signature,” and words
          of like import in this Agreement or in any other certificate, agreement or document related to this Agreement or the other Additional Agreements shall include images of manually executed signatures transmitted by facsimile or other electronic
          format (including, “pdf”, “tif” or “jpg”) and other electronic signatures (including DocuSign and AdobeSign). The use of electronic signatures and electronic records (including any contract or other record created, generated, sent, communicated,
          received, or stored by electronic means) shall be of the same legal effect, validity and enforceability as a manually executed signature or use of a paper-based record-keeping system to the fullest extent permitted by applicable law, including
          the Federal Electronic Signatures in Global and National Commerce Act, the Delaware Uniform Electronic Transactions Act and any other applicable law. Minor variations in the form of the signature page, including footers from earlier versions of
          this Agreement or any such other document, shall be disregarded in determining the party’s intent or the effectiveness of such signature.

         

        5.4          Governing Law; Venue. NOTWITHSTANDING THE PLACE WHERE THIS AGREEMENT
          MAY BE EXECUTED BY ANY OF THE PARTIES HERETO, THE PARTIES EXPRESSLY AGREE THAT THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED UNDER THE LAWS OF THE STATE OF NEW YORK AS APPLIED TO AGREEMENTS AMONG NEW YORK RESIDENTS ENTERED INTO AND TO BE
          PERFORMED ENTIRELY WITHIN NEW YORK, WITHOUT REGARD TO THE CONFLICT OF LAW PROVISIONS OF SUCH JURISDICTION. ANY LEGAL SUIT, ACTION OR PROCEEDING ARISING OUT OF OR BASED UPON THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY MAY BE INSTITUTED
          IN THE FEDERAL COURTS OF THE UNITED STATES OR THE COURTS OF THE STATE OF NEW YORK IN EACH CASE LOCATED IN THE CITY OF NEW YORK, AND EACH PARTY IRREVOCABLY SUBMITS TO THE EXCLUSIVE JURISDICTION OF SUCH COURTS IN ANY SUCH SUIT, ACTION OR
          PROCEEDING.

         

        5.5          Amendments and Modifications. Upon the written consent of the Company
          and the Holders of at least a majority in interest of the Registrable Securities at the time in question, compliance with any of the provisions, covenants and conditions set forth in this Agreement may be waived, or any of such provisions,
          covenants or conditions may be amended or modified; provided, however, that notwithstanding the
          foregoing, any amendment hereto or waiver hereof that adversely affects one Holder, solely in his, her or its capacity as a holder of the capital shares of the Company, in a manner that is materially different from the other Holders (in such
          capacity) shall require the consent of the Holder so affected. No course of dealing between any Holder or the Company and any other party hereto or any failure or delay on the part of a Holder or the Company in exercising any rights or remedies
          under this Agreement shall operate as a waiver of any rights or remedies of any Holder or the Company. No single or partial exercise of any rights or remedies under this Agreement by a party shall operate as a waiver or preclude the exercise of
          any other rights or remedies hereunder or thereunder by such party.

         

        
          21

          
            

        

        5.6          Other Registration Rights. The Company represents and warrants that no
          person, other than a Holder of Registrable Securities or holders of the securities acquired pursuant to the Convertible Notes or the PIPE Subscription Agreements, has any right to require the Company to register any securities of the Company for
          sale or to include such securities of the Company in any Registration filed by the Company for the sale of securities for its own account or for the account of any other person. Further, the Company represents and warrants that this Agreement
          supersedes any other registration rights agreement or agreement with similar terms and conditions and in the event of a conflict between any such agreement or agreements and this Agreement, the terms of this Agreement shall prevail.

         

        5.7          Term. This Agreement shall terminate upon the earlier of (i) the tenth
          anniversary of the date of this Agreement or (ii) the date as of which (A) all of the Registrable Securities have been sold pursuant to a Registration Statement (but in no event prior to the applicable period referred to in Section 4(a)(3) of the
          Securities Act and Rule 174 thereunder (or any successor rule promulgated thereafter by the Commission)) or (B) the Holders of all Registrable Securities are permitted to sell the Registrable Securities without registration pursuant to Rule 144
          (or any similar provision) under the Securities Act with no volume or other restrictions or limitations. The provisions of Section 3.5 and Article IV shall survive any termination.

         

        5.8        Severability. This Agreement shall be deemed severable, and the
          invalidity or unenforceability of any term or provision hereof shall not affect the validity or enforceability of this Agreement or of any other term or provision hereof. Furthermore, in lieu of any such invalid or unenforceable term or
          provision, the parties hereto intend that there shall be added as a part of this Agreement a provision as similar in terms to such invalid or unenforceable provision as may be possible and be valid and enforceable.

         

        5.9         Entire Agreement. This Agreement constitutes the entire understanding
          and agreement between the parties as to the matters covered herein and supersedes and replaces any prior understanding, agreement or statement of intent, in each case, written or oral, of any and every nature with respect thereto.

         

        [Signature Page Follows]

         

        
          22

          
            

        

        IN WITNESS WHEREOF, the undersigned have caused this Agreement to be executed as of the date first written above.

         

        	 	
                COMPANY:

              
	 	 
	 	
                [-], a
                    Delaware corporation]

              
	 	 
	 	
                By:

              	
                /s/

              
	 	 	
                Name:

              
	 	 	
                Title:

              

        

        

        	 	
                HOLDERS:

              
	 	 
	 	
                HIGHLAND TRANSCEND PARTNERS I, LLC, a Delaware limited liability company

              
	 	 
	 	
                By:

              	
                Highland Transcend Partners, LLC,

              
	 	 	
                its sole member

              
	 	 	 
	 	
                By:

              	
                /s/

              
	 	 	
                Name:

              
	 	 	
                Title: Member

              
	 	 	

              
	 	
                [-]

              	 
	 	 	 
	 	
                By:

              	
                [-]

              
	 	 	 
	 	
                By:

              	
                /s/

              
	 	 	
                Name:

              
	 	 	
                Title:

              

        

        

        
          [Signature Page to Registration Rights Agreement]

           

          

           

          

           23Exhibit 10.7

      

       

        

      FINAL FORM

    

    

    

    AMENDED AND RESTATED

    LIMITED LIABILITY COMPANY AGREEMENT

    OF

    PACKABLE HOLDINGS, LLC

     

    a Delaware limited liability company

     

    Dated as of [•], 2021

     

    THE LIMITED LIABILITY COMPANY UNITS OF PACKABLE HOLDINGS, LLC HAVE NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), THE SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION OR ANY OTHER APPLICABLE SECURITIES LAWS AND ARE BEING SOLD IN RELIANCE UPON EXEMPTIONS FROM THE REGISTRATION REQUIREMENTS
      OF THE SECURITIES ACT AND SUCH LAWS. SUCH UNITS MUST BE ACQUIRED FOR INVESTMENT ONLY AND MAY NOT BE OFFERED FOR SALE, PLEDGED, HYPOTHECATED, SOLD, ASSIGNED OR TRANSFERRED AT ANY TIME EXCEPT IN COMPLIANCE WITH (I) THE SECURITIES ACT, ANY APPLICABLE
      SECURITIES LAWS OF ANY STATE OR OTHER JURISDICTION, AND ANY OTHER APPLICABLE SECURITIES LAWS; (II) THE TERMS AND CONDITIONS OF THIS AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT; AND (III) ANY OTHER TERMS AND CONDITIONS AGREED TO IN
      WRITING BETWEEN THE MANAGING MEMBER AND THE APPLICABLE MEMBER. THE UNITS MAY NOT BE TRANSFERRED OF RECORD EXCEPT IN COMPLIANCE WITH SUCH LAWS, THIS AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT, AND ANY OTHER TERMS AND CONDITIONS AGREED TO
      IN WRITING BY THE MANAGING MEMBER AND THE APPLICABLE MEMBER. THEREFORE, PURCHASERS AND OTHER TRANSFEREES OF SUCH UNITS WILL BE REQUIRED TO BEAR THE RISK OF THEIR INVESTMENT OR ACQUISITION FOR AN INDEFINITE PERIOD OF TIME.

     

    

    
      
        

    

    
    
      TABLE OF CONTENTS

      (continued)

      

      

    

    	 	
            Page

          
	
            ARTICLE I DEFINITIONS

          	2

          
	 	 
	 	
            1.01

          	
            Definitions

          	
            2

          
	 	 
	
            ARTICLE II FORMATION, TERM, PURPOSE AND POWERS

          	12

          
	 	 
	 	
            2.01

          	
            Formation

          	
            12

          
	 	
            2.02

          	
            Name

          	
            12

          
	 	
            2.03

          	
            Term

          	
            13

          
	 	
            2.04

          	
            Offices

          	
            13

          
	 	
            2.05

          	
            Agent for Service of Process; Existence and Good Standing; Foreign Qualification.

          	
            13

          
	 	
            2.06

          	
            Business Purpose

          	
            13

          
	 	
            2.07

          	
            Powers of the Company

          	
            13

          
	 	
            2.08

          	
            Members; Reclassification; Admission of New Members

          	
            13

          
	 	
            2.09

          	
            Resignation

          	
            14

          
	 	
            2.10

          	
            Representations of Members

          	
            14

          
	 	
            2.11

          	
            Amendment and Restatement of Existing LLC Agreement

          	
            15

          
	 	 
	
            ARTICLE III MANAGEMENT

          	15

          
	 	 
	 	
            3.01

          	
            Managing Member.

          	
            15

          
	 	
            3.02

          	
            Compensation

          	
            17

          
	 	
            3.03

          	
            Expenses

          	
            17

          
	 	
            3.04

          	
            Officers

          	
            17

          
	 	
            3.05

          	
            Authority of Members

          	
            18

          
	 	
            3.06

          	
            Action by Written Consent or Ratification

          	
            18

          
	 	
            3.07

          	
            Investment Company Act Restrictions

          	
            18

          
	 	
            3.08

          	
            Transactions Between the Company and the Managing Member

          	
            18

          
	 	 
	
            ARTICLE IV DISTRIBUTIONS

          	18

          
	 	 
	 	
            4.01

          	
            Distributions

          	
            18

          
	 	
            4.02

          	
            Liquidation Distribution

          	
            21

          
	 	
            4.03

          	
            Limitations on Distribution

          	
            21

          
	 	
            4.04

          	
            Use of Distribution Funds

          	
            21

          
	 	
            4.05

          	
            Earnout Company Unit Distributions

          	
            21

          

    

    

    
      -i-

      
        

    

    
      TABLE OF CONTENTS

      (continued)

       

      

    

    	 	
            Page

          
	
            ARTICLE V CAPITAL CONTRIBUTIONS; CAPITAL ACCOUNTS; TAX ALLOCATIONS; TAX MATTERS

          	21

          
	 	 
	 	
            5.01

          	
            Initial Capital Contributions

          	
            21

          
	 	
            5.02

          	
            No Additional Capital Contributions

          	
            21

          
	 	
            5.03

          	
            Capital Accounts

          	
            21

          
	 	
            5.04

          	
            Allocations of Profits and Losses

          	
            22

          
	 	
            5.05

          	
            Special Allocations

          	
            22

          
	 	
            5.06

          	
            Tax Allocations

          	
            24

          
	 	
            5.07

          	
            Tax Advances

          	
            25

          
	 	
            5.08

          	
            Partnership Representative.

          	
            25

          
	 	
            5.09

          	
            Other Allocation Provisions

          	
            27

          
	 	
            5.10

          	
            Survival

          	
            27

          
	 	 
	
            ARTICLE VI BOOKS AND RECORDS; REPORTS

          	27

          
	 	 
	 	
            6.01

          	
            Books and Records.

          	
            27

          
	 	
            6.02

          	
            Confidentiality.

          	
            28

          
	 	 
	
            ARTICLE VII COMPANY UNITS

          	29

          
	 	 
	 	
            7.01

          	
            Units.

          	29

          
	 	
            7.02

          	
            Register

          	
            31

          
	 	
            7.03

          	
            Registered Members

          	
            31

          
	 	
            7.04

          	
            Issuances, Repurchases and Redemptions, Recapitalizations.

          	
            31

          
	 	
            7.05

          	
            Restricted Common Units.

          	
            33

          
	 	
            7.06

          	
            Forfeiture of Earnout Company Units

          	
            34

          
	 	 
	
            ARTICLE VIII TRANSFER RESTRICTIONS

          	34

          
	 	 
	 	
            8.01

          	
            Member Transfers.

          	
            35

          
	 	
            8.02

          	
            Mandatory Exchanges and Approved Qualified Transaction

          	
            37

          
	 	
            8.03

          	
            Encumbrances

          	
            38

          
	 	
            8.04

          	
            Further Restrictions.

          	
            38

          
	 	
            8.05

          	
            Rights of Assignees

          	
            40

          
	 	
            8.06

          	
            Admissions, Resignations and Removals.

          	
            40

          
	 	
            8.07

          	
            Admission of Assignees as Substitute Members

          	
            40

          
	 	
            8.08

          	
            Resignation and Removal of Members

          	
            41

          
	 	
            8.09

          	
            Withholding

          	
            41

          

    

    

    
      -ii-

      
        

    

    
      TABLE OF CONTENTS

      (continued)

       

      

    

    	 	 	 	
            Page

          
	 	
            8.10

          	
            Allocations in Respect of Transferred Units

          	
            41

          
	 	 
	
            ARTICLE IX DISSOLUTION, LIQUIDATION AND TERMINATION

          	42

          
	 	 
	 	
            9.01

          	
            No Dissolution

          	
            42

          
	 	
            9.02

          	
            Events Causing Dissolution

          	
            42

          
	 	
            9.03

          	
            Distribution upon Dissolution

          	
            43

          
	 	
            9.04

          	
            Time for Liquidation

          	
            43

          
	 	
            9.05

          	
            Termination

          	
            43

          
	 	
            9.06

          	
            Claims of the Members

          	
            43

          
	 	
            9.07

          	
            Survival of Certain Provisions

          	
            43

          
	 	 
	
            ARTICLE X LIABILITY AND INDEMNIFICATION

          	43

          
	 	 
	 	
            10.01

          	
            Liability of Members.

          	
            43

          
	 	
            10.02

          	
            Indemnification.

          	
            45

          
	 	 
	
            ARTICLE XI VALUATION

          	47

          
	 	 
	 	
            11.01

          	
            Fair Market Value

          	
            47

          
	 	
            11.02

          	
            Determination

          	
            48

          
	 	 
	
            ARTICLE XII MISCELLANEOUS

          	47

          
	 	 
	 	
            12.01

          	
            Severability

          	
            48

          
	 	
            12.02

          	
            Notices

          	
            48

          
	 	
            12.03

          	
            Cumulative Remedies

          	
            48

          
	 	
            12.04

          	
            Binding Effect

          	
            48

          
	 	
            12.05

          	
            Interpretation

          	
            48

          
	 	
            12.06

          	
            Counterparts

          	
            49

            

          
	 	
            12.07

          	
            Further Assurances

          	
            49

            

          
	 	
            12.08

          	
            Entire Agreement

          	
            49

            

          
	 	
            12.09

          	
            Governing Law

          	
            49

            

          
	 	
            12.10

          	
            Submission to Jurisdiction; Waiver of Jury Trial.

          	
            49

            

          
	 	
            12.11

          	
            Expenses

          	
            50

          
	 	
            12.12

          	
            Amendments and Waivers.

          	
            50

          
	 	
            12.13

          	
            No Third Party Beneficiaries

          	
            51

          
	 	
            12.14

          	
            Headings

          	
            51

          
	 	
            12.15

          	
            Power of Attorney

          	
            51

          
	 	
            12.16

          	
            Separate Agreements; Schedules

          	
            52

          

    

    

    
      -iii-

      
        

    

    
      TABLE OF CONTENTS

      (continued)

    

     

    

    	 	 	 	
            Page

          
	 	
            12.17

          	
            Partnership Status

          	
            52

          
	 	
            12.18

          	
            Delivery by Facsimile or Email

          	
            52

          
	 	
            12.19

          	
            Competitively Sensitive Information

          	
            52

          

    

    

    
      -iv-

      
        

    

    AMENDED AND RESTATED

    LIMITED LIABILITY COMPANY AGREEMENT OF

    PACKABLE HOLDINGS, LLC

     

    This Amended and Restated Limited Liability Company Agreement (this “Agreement”) of Packable Holdings, LLC, a Delaware limited liability company (the “Company”), is made
      as of [•], 2021 (the “Effective Date”) by and among Packable Commerce, Inc., a Delaware corporation (“PubCo”), as the Managing
      Member, and the Members set forth on Schedule I hereto and each other person who is or at any time becomes a Member in accordance with the terms of this Agreement and the Act (as defined below).

     

    RECITALS

     

    Whereas, on July 15, 2014, the Company was organized as a Delaware limited liability
      company by the filing of a certificate of formation in the office of the Secretary of State of the State of Delaware (the “Certificate”);

     

    Whereas, in connection with the contribution of certain equity interests by members of
      Pharmapacks, LLC and other certain commercial agreements, the Company and the Persons (as defined below) party thereto entered into that certain Amended and Restated Limited Liability Company Agreement, dated as of August 18, 2014 (the “Original LLC Agreement”) governing the organization and management of the Company;

     

    Whereas, on June 11, 2018, the Original LLC Agreement was amended and restated in its
      entirety by that certain Amended and Restated Limited Liability Company Agreement of the Company (the “First A&R LLC Agreement”);

     

    Whereas, on November 6, 2020, the First A&R LLC Agreement was amended and restated
      in its entirety by that certain Amended and Restated Limited Liability Company Agreement of the Company (the “Second A&R LLC Agreement”);

     

    Whereas, concurrently with the execution of the Merger Agreement (as defined below),
      the Second A&R LLC Agreement was amended and restated in its entirety by that certain Amended and Restated Limited Liability Company Agreement of the Company (the “Existing LLC Agreement”);

     

    Whereas, concurrently with the effectiveness of this Agreement, in accordance with the
      Agreement and Plan of Merger, dated as of [•], 2021 (the “Merger Agreement”), by and among Highland Transcend Partners I Corp. (“HTP”),

      Picasso Merger Sub I, Inc. (“Blocker Merger Sub I”), Picasso Merger Sub II, LLC, (“Blocker Merger Sub II”), Picasso Merger Sub
      III, LLC (“Company Merger Sub”), Carlyle Partners VII Pacer Holdings, L.P., CP VII Pacer Corp. (“Pacer Corp. Blocker”), CP VII
      Pacer EU L.P. (“Pacer L.P. Blocker”), the Company, and Shareholder Representative Services LLC, solely in its capacity as the representative, agent and attorney-in-fact of the Holders under
      the Merger Agreement: (i) Blocker Merger Sub I shall be merged with and into Pacer Corp. Blocker, whereupon the separate corporate existence of Blocker Merger Sub I shall cease and Pacer Corp. Blocker shall be the surviving company and wholly owned
      Subsidiary of PubCo (the “First Blocker Merger”); (ii) Blocker Merger Sub II will be merged with and into Pacer L.P. Blocker, whereupon the separate limited liability company existence of
      Blocker Merger Sub II shall cease and Pacer L.P. Blocker shall be the surviving company and a wholly owned Subsidiary of PubCo (the “Second Blocker Merger”, and together with the First
      Blocker Merger, the “Blocker Mergers”); (iii) and immediately thereafter, at the HTP Mergers Effective Time, simultaneously (x) Pacer Corp. Blocker shall be merged with and into PubCo,
      whereupon the separate corporate existence of Pacer Corp. Blocker shall cease and PubCo shall be the surviving company (the “First HTP Merger”), and (y) Pacer L.P. Blocker shall be merged
      with and into PubCo, whereupon the separate limited partnership existence of Pacer L.P. Blocker shall cease and PubCo shall be the surviving company (the “Second HTP Merger” and together
      with the First HTP Merger, the “HTP Mergers”); and (iv) following the HTP Mergers, Company Merger Sub shall be merged with and into the Company, whereupon the separate limited liability
      company existence of Company Merger Sub shall cease and the Company shall be the surviving company (the “Company Merger” and together with the Blocker Mergers and the HTP Mergers, the “Mergers”) and continue its existence under the Act;

     

    
      
        

    

    
    Whereas, pursuant to the Company Merger, each of the Company Units, Series A Preferred
      Units, Series B Preferred Units and Series B-1 Preferred Units (as each is defined in the Existing LLC Agreement) outstanding prior to the effectiveness of this Agreement were exchanged for the number of Units set forth opposite such Member’s name on
      Schedule I hereto; and

     

    Whereas, pursuant to the Merger Agreement, (i) the Members have agreed to amend and
      restate the Existing LLC Agreement in its entirety as set forth herein and (ii) PubCo, by its execution and delivery of this Agreement, is hereby admitted to the Company as a Member and is hereby substituted as Managing Member, and in such capacity
      shall have the rights and obligations as provided in this Agreement.

     

    Now, Therefore, in consideration of the premises and agreements of the parties set
      forth herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Members and the Managing Member hereby agree to amend and restate the Existing LLC Agreement to read in its entirety as
      follows:

     

    ARTICLE I

     

    DEFINITIONS

     

    1.01     Definitions. Capitalized terms used herein without definition have the following meanings (such meanings being equally applicable to both the singular and plural form of the terms
        defined):

     

    “Act” means, the Delaware Limited Liability Company Act, 6 Del. C. Section 18-101, et seq.,
      as it may be amended from time to time.

     

    “Adjusted Capital Account Balance” means, with respect to each Member, the balance in such
      Member’s Capital Account adjusted (i) by taking into account the adjustments, allocations and distributions described in Treasury Regulations Sections 1.704-1(b)(2)(ii)(d)(4), (5) and (6); and (ii) by adding to such balance such Member’s share of
      Company Minimum Gain and Member Nonrecourse Debt Minimum Gain, determined pursuant to Treasury Regulations Sections 1.704-2(g) and 1.704-2(i)(5), and any amounts such Member is obligated to restore pursuant to any provision of this Agreement or by
      applicable Law. The foregoing definition of Adjusted Capital Account Balance is intended to comply with the provisions of Treasury Regulations Section 1.704-1(b)(2)(ii)(d) and shall be interpreted consistently therewith.

     

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

     

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

     

    “Assignee” has the meaning set forth in Section 8.05.

     

    
      2

      
        

    

    “Assumed Tax Rate” means the highest effective marginal combined U.S. federal, state and
      local income tax rate (including the tax imposed under Section 1411 of the Code on net investment income) for a taxable year prescribed for an individual or corporate resident in New York, New York (whichever results in the application of the highest
      state and local tax rate for a given type of income), and taking into account (a) the limitations imposed on the deductibility of expenses and other items, (b) the character (e.g., long-term or short-term capital gain or ordinary or exempt income) of
      the applicable income, and (c) the deductibility of state and local income taxes, to the extent applicable (and with any dollar limitation on state and local income tax deductibility assumed to be exceeded), but not taking into account any deduction
      under Section 199A of the Code or any similar state or local Law, as determined in good faith by the Managing Member. For the avoidance of doubt, the Assumed Tax Rate shall be the same for all Members.

     

    “Available Cash” means, as of a particular date, the amount of cash on hand which the
      Managing Member, in its reasonable discretion, deems available for Distribution to the Members, taking into account all debts, liabilities and obligations of the Company then due and amounts that the Managing Member, in its reasonable discretion,
      deems necessary to expend or retain for working capital or to place into reserves for customary and usual claims with respect to the Company’s operations.

     

    “Board” means the Board of Directors of the Managing Member.

     

    “Capital Account” means the separate capital account maintained for each Member in accordance
      with Section 5.03 hereof.

     

    “Capital Contribution” means, with respect to any Member, the aggregate amount of money
      contributed to the Company and the initial Carrying Value of any property (other than money), net of any liabilities assumed by the Company upon contribution or to which such property is subject, contributed to the Company pursuant to Article V. 

      Any reference to the Capital Contribution of a Member will include any Capital Contributions made by a predecessor holder of such Member’s Units to the extent that such Capital Contribution was made in respect of Units Transferred to such Member.  As
      of the Effective Time, each Member shall be deemed to have made Capital Contributions equal to the Closing Date Capital Account Balance of such Continuing Member set forth next to such Member’s name on Schedule I hereto.

     

    “Carlyle” means Carlyle Partners VII Pacer Holdings, L.P., Pacer Corp. Blocker, Pacer L.P.
      Blocker, in each case, together with any affiliated investment funds and investment vehicles.

     

    
      3

      
        

    

    “Carrying Value” means, with respect to any Company asset, the asset’s adjusted basis for
      U.S. federal income tax purposes, except that the initial carrying value of assets contributed to the Company shall be their respective gross Fair Market Values on the date of contribution as determined by the Managing Member
      in its reasonable discretion, and the Carrying Values of all Company assets shall be adjusted to equal their respective Fair Market Values, in accordance with the rules set forth in Treasury Regulation Section 1.704-1(b)(2)(iv)(f), except as
      otherwise provided herein, as of: (a) the date of the acquisition of any additional limited liability company interest in the Company by any new or existing Member in exchange for more than a de minimis Capital Contribution; (b) the date of the
      Distribution of more than a de minimis amount of Company assets to a Member as consideration for an interest in the Company; (c) the liquidation of the Company within the meaning of Treasury Regulations
      Section 1.704-1(b)(2)(ii)(g); (d) in connection with the grant of an interest in the Company (other than a de minimis interest) as consideration for the provision of services to or for the benefit of the Company by an existing member acting in a
      partner capacity, or by a new Member acting in a partner capacity in anticipation of being a Member, (e) the acquisition of an interest in the Company upon the exercise of a noncompensatory option in accordance with Treasury Regulations Section
      1.704-1(b)(2)(iv)(s); (f) on the Effective Date in connection with the closing of the transactions contemplated by the Merger Agreement, (g) the conversion of any Restricted Common Units into Common Units upon the occurrence of a Vesting Event, if
      any, in accordance with principles similar to those set forth in Treasury Regulations Section 1.704-1(b)(2)(iv)(s); or (h) any other date specified in the Treasury Regulations; provided, however, that adjustments pursuant to clauses (a), (b), (d) and (g) above shall be made only if such adjustments are deemed necessary or appropriate by the Managing Member in its
      reasonable discretion to reflect the relative economic interests of the Members; and provided further, if any noncompensatory option or Restricted Common Unit is outstanding upon the occurrence of an event
      described in this sentence (other than, if applicable, the noncompensatory options being exercised or the Restricted Common Units being converted that give rise to the occurrence of such event), Carrying Values shall be adjusted in accordance with
      Treasury Regulations Sections 1.704-1(b)(2)(iv)(f)(1) and 1.704-1(b)(2)(iv)(h)(2) (or, in the case of outstanding Restricted Common Units, in accordance with principles similar to those set forth in such Sections). The Carrying Value of any Company
      asset distributed to any Member shall be adjusted immediately before such Distribution to equal its Fair Market Value. In the case of any asset that has a Carrying Value that differs from its adjusted tax basis, Carrying Value shall be adjusted by
      the amount of depreciation calculated for purposes of the definition of “Profits” and “Losses” rather than the amount of
      depreciation determined for U.S. federal income tax purposes, and depreciation shall be calculated by reference to Carrying Value rather than tax basis once Carrying Value differs from tax basis. The Carrying Value of Company assets shall be
      increased (or decreased) to reflect any adjustments to the adjusted basis of such assets pursuant to Code Section 734(b) or Section 743(b), but only to the extent that such adjustments are taken into account in determining Capital Accounts pursuant
      to Treasury Regulations Section 1.704-1(b)(2)(iv)(m); provided, however, that Carrying Values shall not be adjusted pursuant to this sentence to the extent that the Managing Member reasonably determines that
      an adjustment pursuant to clauses (a) through (g) of the first sentence of this definition is necessary or appropriate in connection with the transaction that would otherwise result in an adjustment pursuant to this sentence.

     

    “Change of Control” has the meaning given to such term in the Tax Receivable Agreement; provided that, for the avoidance of doubt, any event that constitutes both a Pubco Offer and a Change of Control of PubCo shall be considered a Pubco Offer for purposes of this Agreement.

     

    “Class” means the classes of Units into which the limited liability company interests in the
      Company may be classified or divided from time to time by the Managing Member pursuant to the provisions of this Agreement. As of the date of this Agreement the only Classes are Common Units, which includes the Earnout Company Units, and Restricted
      Common Units. Subclasses within a Class shall not be separate Classes for purposes of this Agreement. For all purposes hereunder and under the Act, only such Classes expressly established under this Agreement, including by the Managing Member in
      accordance with this Agreement, shall be deemed to be a class of limited liability company interests in the Company. For the avoidance of doubt, to the extent that the Managing Member holds limited liability company interests of any Class, the
      Managing Member shall not be deemed to hold a separate Class of such interests from any other Member because it is the Managing Member.

     

    “Class A Common Shares” means the shares of Class A Common Stock of PubCo, par value $0.[•]
      per share.

     

    “Class B Common Shares” means the shares of Class B Common Stock of PubCo, par value $0.[•]
      per share.

     

    “Closing” means the closing of the Mergers pursuant to the Merger Agreement.

     

    “Code” means the Internal Revenue Code of 1986, as amended from time to time.

     

    
      4

      
        

    

    “Common Percentage Interest” means, with respect to any Member, the quotient obtained by
      dividing the aggregate number of Common Units then owned by such Member by the aggregate number of Common Units then owned by all Members.

     

    “Common Stock” means the Common Stock of PubCo, par value $0.[•] per share.

     

    “Common Units” means the Units of limited liability company interest in the Company
      designated as the “Common Units” herein (which, for the avoidance of doubt, includes the Earnout Company Units) and having the rights pertaining thereto as are set forth in this Agreement,
      but shall exclude any Restricted Common Units prior to their conversion into Common Units upon the occurrence of a Vesting Event, if any.

     

    “Company” has the meaning set forth in the preamble of this Agreement.

     

    “Company Minimum Gain” has the meaning ascribed to the term “partnership minimum gain” set
      forth in Treasury Regulations Sections 1.704-2(b)(2) and 1.704-2(d).

     

    “Company Voting and Support Agreement” means that certain Voting and Support Agreement by and
      among the Company, PubCo and the Members party thereto, dated as of [•], 2021.

     

    “Competitively Sensitive Information” means, as it relates to any Member, (i) information
      that contains details regarding the activities of the Company and its Affiliates which are competitive with the business of, or present a conflict of interest with, such Member and/or its Affiliates, (ii) cost, pricing, vendor and supplier terms and
      information (including margin and profitability) regarding the products and services that the Company provides or may provide a Member and/or its Affiliates pursuant to the Company’s commercial relationship with such Member and/or its Affiliates or
      (iii) details, discussions or the existence of (or offers, proposals or inquiries for) any agreements with, business relationships with or work performed for, specific customers and other business partners who could be competitors of, or present a
      conflict of interest with, such Member and/or its Affiliates, in each case as determined by the Managing Member; provided, that this definition shall exclude any information filed with the U.S. Securities and
      Exchange Commission (the “Commission”) or otherwise made publicly available.

     

    “Contingencies” has the meaning set forth in Section 9.03(a).

     

    “Continuing Members” means the Members of the Company as of immediately prior to the
      Effective Time (as defined in the Merger Agreement) of the Company Merger.

     

    “Continuing Member Representative” means PubCo or such other Person as may be appointed from
      time to time by holders of a majority of Units held by Continuing Members who hold Units at the time of determination.

     

    “Control” (including the terms “Controlled by” and “under common Control with”) means the
      possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a Person, whether through the ownership of voting securities, as trustee or executor, by contract or otherwise, including the
      ownership, directly or indirectly, of securities having the power to elect a majority of the board of directors or similar body governing the affairs of such Person.

     

    
      5

      
        

    

    “Conversion Date” means, with respect to any Restricted Common Unit, the date on which a
      Vesting Event occurs for such Restricted Common Unit or such later date determined pursuant to Section 7.05(b).

     

    “Covered Transaction” means any liquidation, dissolution or
      winding up of the Company (whether occurring through one transaction or a series of related transactions, and whether voluntary or involuntary) and any other sale, redemption or Transfer of
      Units.

     

    “Designated Individual” has the meaning set forth in Section 5.08.

     

    “Disabling Event” means the Managing Member ceasing to be the Managing Member of the Company.

     

    “Distribution” means the transfer of any money or other property to a Member or its Assignee
      in respect of its Units or other Equity Interests in the Company.

     

    “Distribution Catch-Up Payment” has the meaning set forth in Section 4.01(c).

     

    “Distribution Catch-Up Period” means, with respect to any Restricted Common Unit, the period
      beginning at the Effective Time and ending on the Conversion Date with respect to such Restricted Common Unit.

     

    “Earnout Company Units” has the meaning set forth in the Sponsor Letter Agreement. The
      Earnout Company Units issued and outstanding as of the Closing Date (as defined in the Merger Agreement) are held by PubCo and are designated as such as set forth in Schedule I attached hereto.

     

    “Effective Date” has the meaning set forth in the preamble of this Agreement.

     

    “Encumbrance” means any mortgage, hypothecation, claim, lien, encumbrance, conditional sales
      or other title retention agreement, right of first refusal, preemptive right, pledge, option, charge, security interest or other similar interest, easement, judgment or imperfection of title of any nature whatsoever, other than encumbrances arising
      under applicable securities Laws.

     

     “Equity Interests” means (a) capital stock, membership interests, partnership interests,
      other equity interests, rights to profits or revenue and any other similar interest in any corporation, partnership, limited liability company or other business entity, (b) any security or other interest convertible into or exchangeable or
      exercisable for any of the foregoing, whether at the time of issuance or upon the passage of time or the occurrence of some future event and (c) any warrant, option or other right (contingent or otherwise) to acquire any of the foregoing.

     

    “ERISA” means The Employee Retirement Income Security Act of 1974, as amended.

     

    “Exchange Act” means the U.S. Securities Exchange Act of 1934, as amended, and the rules and
      regulations promulgated thereunder.

     

    “Exchange Agreement” means the Exchange Agreement dated as of or about the date hereof by and
      among the Company, Managing Member, the other Members of the Company from time to time party thereto, and the other parties thereto, as amended from time to time.

     

    
      6

      
        

    

    “Exchange Transaction” means an exchange of Common Units and Class B Common Shares for Class
      A Common Shares of PubCo pursuant to, and in accordance with, the Exchange Agreement (including pursuant to a Direct Exchange (as defined in the Exchange Agreement)).

     

    “Existing LLC Agreement” has the meaning set forth in the recitals of this Agreement.

     

    “Family Group” means, with respect to a Person who is an individual, (a) such Person’s spouse
      and direct descendants (whether natural or adopted) (collectively, for purposes of this definition, “relatives”), and (b) any trust, the trustee of which is such Person and which at all
      times is and remains solely for the benefit of such Person and/or such Person’s relatives.

     

    “First A&R LLC Agreement” has the meaning set forth in the recitals of this Agreement.

     

    “Fiscal Year” means, unless otherwise determined by the Managing Member in its sole
      discretion in accordance with Section 12.12, any twelve-month period commencing on January 1 and ending on December 31.

     

    “GAAP” means accounting principles generally accepted in the United States of America as in
      effect from time to time.

     

    “HTP” has the meaning set forth in the recitals of this Agreement.

     

    “Incapacity” means, with respect to any Person, the bankruptcy, dissolution, termination of
      such Person.

     

    “Income Amount” has the meaning set forth in Section 4.01(d)(i).

     

    “Indemnitee” means (a) the Managing Member, (b) any additional or substitute Managing Member,
      (c) any Person who is or was a Partnership Representative, officer or director of the Managing Member or any additional or substitute Managing Member, (d) any Person that is required to be indemnified by the Managing Member as an “indemnitee” in
      accordance with the certificate of incorporation and/or bylaws of the Managing Member as in effect from time to time, (e) any officer or director of the Managing Member or any additional or substitute Managing Member who is or was serving at the
      request of the Managing Member or any additional or substitute Managing Member as an officer, director, employee, member, Member, Partnership Representative, agent, fiduciary or trustee of another Person; provided, that a Person shall not be an
      Indemnitee by reason of providing, on a fee-for-services basis, trustee, fiduciary or custodial services, (f) any Officer, (g) any other Person the Managing Member in its sole discretion designates as an “Indemnitee” for purposes of this Agreement,
      (h) any former officer or manager of the Company pursuant to Section 10.02 of the Merger Agreement and (i) any heir, executor or administrator with respect to Persons named in clauses (a) through (h).

     

    “Law” means any statute, law, ordinance, regulation, rule, code, executive order, injunction,
      judgment, decree or other order issued or promulgated by any national, supranational, state, federal, provincial, local or municipal government or any administrative or regulatory body with authority therefrom with jurisdiction over the Company or
      any Member, as the case may be.

     

    “Liquidation Agent” has the meaning set forth in Section 9.03.

     

    “Liquidity Event” means, whether occurring through one transaction or a series of related
      transactions, any liquidation, dissolution or winding up, voluntary or involuntary, of the Company.

     

    
      7

      
        

    

    “Lock-Up Period” means the period from the date of the Closing
      and ending on the first to occur of (i) the date that is one-hundred and eighty (180) days following the date of the Closing and (ii) the date on which PubCo completes a liquidation, merger, capital stock exchange, reorganization or other similar
      transaction that results in all of PubCo’s stockholders having the right to exchange their Class A Common Shares for cash, securities or other property.

     

    “Managing Member” means PubCo, or any successor Managing Member admitted to the Company in
      accordance with the terms of this Agreement, in its capacity as the managing member of the Company.

     

    “Managing Member Charter” means the certificate of incorporation (or equivalent
      organizational document) as filed with the secretary of state (or equivalent governmental body or department) of the state in which the Managing Member is incorporated or formed, as applicable, as in effect and amended from time to time.

     

    “Mandatory Exchange” has the meaning set forth in Section 8.02(a).

     

    “Member” means, at any time, each person listed as a Member (including the Managing Member)
      on the books and records of the Company, in each case for so long as he, she or it remains a Member of the Company as provided hereunder.

     

    “Member Nonrecourse Debt Minimum Gain” means an amount with respect to each partner
      nonrecourse debt (as defined in Treasury Regulations Section 1.704-2(b)(4)) equal to the Company Minimum Gain that would result if such partner nonrecourse debt were treated as a nonrecourse liability (as defined in Treasury Regulations Section
      1.704-2(b)(3)) determined in accordance with Treasury Regulations Section 1.704-2(i)(3).

     

    “Member Nonrecourse Deductions” has the meaning ascribed to the term “partner nonrecourse
      deductions” set forth in Treasury Regulations Section 1.704-2(i)(2).

     

    “Member’s Required Tax Distribution” has the meaning set forth
      in Section 4.01(d)(i).

     

    “Mergers” has the meaning set forth in the recitals of this Agreement.

     

    “Merger Agreement” has the meaning set forth in the recitals of this Agreement.

     

    “MV” means McKesson Ventures LLC or its Affiliates.

     

    “Nonrecourse Deductions” has the meaning set forth in Treasury Regulations Section
      1.704-2(b)(1). The amount of Nonrecourse Deductions of the Company for a Fiscal Year equals the net increase, if any, in the amount of Company Minimum Gain of the Company during that fiscal year, determined according to the provisions of Treasury
      Regulations Section 1.704-2(c).

     

    “Officer” means each Person designated as an officer of the Company by the Managing Member
      pursuant to and in accordance with the provisions of Section 3.04, subject to any resolutions of the Managing Member appointing such Person as an officer of the Company or relating to such appointment.

     

    “Original LLC Agreement” has the meaning set forth in the recitals of this Agreement.

     

    
      8

      
        

    

    “Original Units” means the Units outstanding under the Existing LLC Agreement prior to the
      Effective Time.

     

    “Participating Unit” means, with respect to any Distribution (or other allocation of
      proceeds) pursuant to Section 4.01(a) or Section 4.02, any outstanding Unit (which includes, for the avoidance of doubt, the Earnout Company Units), but shall exclude any Restricted Common Units prior to their conversion into Common
      Units upon the occurrence of a Vesting Event, if any.

     

    “Partnership Representative” means any Person acting as “tax matters partner” or the
      “partnership representative” pursuant to Section 5.08.

     

    “Permitted Transferee” means any transferee in an Exempt Transfer.

     

    “Person” means any individual, estate, corporation, partnership, limited partnership, limited
      liability company, limited company, joint venture, trust, unincorporated or governmental organization or any agency or political subdivision thereof.

     

    “Primary Indemnification” has the meaning set forth in Section 10.02(a).

     

    “Proceeding” has the meaning set forth in Section 10.02(a).

     

    “Profits” and “Losses” means, for
      each Fiscal Year or other period, the taxable income or loss of the Company, or particular items thereof, determined in accordance with the accounting method used by the Company for U.S. federal income tax purposes with the following adjustments: (a)
      all items of income, gain, loss or deduction allocated pursuant to Section 5.05 shall not be taken into account in computing such taxable income or loss (but the amounts of items to be specially allocated pursuant to Section 5.05
      shall be determined by applying rules analogous to those set forth in the remainder of this definition of “Profits” and “Losses”); (b) any income of the Company that is exempt from U.S. federal income taxation and not otherwise taken into account in
      computing Profits and Losses shall be added to such taxable income or loss; (c) if the Carrying Value of any asset differs from its adjusted tax basis for U.S. federal income tax purposes, any gain or loss resulting from a disposition of such asset
      shall be calculated with reference to such Carrying Value; (d) upon an adjustment to the Carrying Value (other than an adjustment in respect of depreciation) of any asset, pursuant to the definition of Carrying Value, the amount of the adjustment
      shall be included as gain or loss in computing such taxable income or loss; (e) if the Carrying Value of any asset differs from its adjusted tax basis for U.S. federal income tax purposes, the amount of depreciation, amortization or cost recovery
      deductions with respect to such asset for purposes of determining Profits and Losses, if any, shall be an amount which bears the same ratio to such Carrying Value as the U.S. federal income tax depreciation, amortization or other cost recovery
      deductions bears to such adjusted tax basis (provided that, if the U.S. federal income tax depreciation, amortization or other cost recovery deduction is zero, the Managing Member may use any reasonable method
      for purposes of determining depreciation, amortization or other cost recovery deductions in calculating Profits and Losses); (f) to the extent that an adjustment to the adjusted tax basis of any Company asset pursuant to Code Section 734(b) is
      required pursuant to Treasury Regulation Section 1.704-1(b)(2)(iv)(m)(4) to be taken into account in determining Capital Accounts as a result of a Distribution other than in liquidation of a Member’s interest in the Company, the amount of such
      adjustment shall be treated as an item of gain (if the adjustment increases the basis of the asset) or loss (if the adjustment decreases the basis of the asset) from the disposition of the asset and shall be taken into account for purposes of
      computing such taxable income or loss and (g) except for items in (a) above, any expenditures of the Company not deductible in computing taxable income or loss, not properly capitalizable and not otherwise taken into account in computing Profits and
      Losses pursuant to this definition shall be treated as deductible items.

     

    
      9

      
        

    

    “Pubco Offer” has the meaning set forth in Section 8.02(a).

     

    “Quality King” means Quality King Distributors, Inc. and its Affiliates.

     

    “Qualified Transaction” shall mean a Change of Control.

     

    “RB” means RB Health (US) LLC or its Affiliates.

     

    “Requisite Members” means the Members that collectively hold a majority of the Units that are
      collectively held by the Continuing Members at the time of determination.

     

    “Restricted Common Unit” means the Units which are restricted and subject to vesting, with
      the rights and privileges as set forth in this Agreement, including the Series 1 RCUs, the Series 2 RCUs, the Series 3 RCUs and the Series 4 RCUs.

     

    “Revised Partnership Audit Provisions” means Code Sections 6221 through 6241, as in effect
      for taxable years of the Company beginning after 2017 together with any subsequent amendments thereto, Treasury Regulations promulgated thereunder, and published administrative interpretations thereof, and any comparable provisions of state or local
      tax Law.

     

    “SA” means Sealed Air Corporation (US) or its Affiliates.

     

    “Second A&R LLC Agreement” has the meaning set forth in the recitals of this Agreement.

     

    “Securities Act” means the U.S. Securities Act of 1933, as amended, and the rules and
      regulations promulgated thereunder.

     

    “Series 1 RCU” means a Restricted Common Unit which is restricted subject to vesting and will
      vest upon the occurrence of a Series 1 Vesting Event, with the rights and privileges as set forth in this Agreement.

     

    “Series 2 RCU” means a Restricted Common Unit which is restricted subject to vesting and will
      vest upon the occurrence of a Series 2 Vesting Event, with the rights and privileges as set forth in this Agreement.

     

    “Series 3 RCU” means a Restricted Common Unit which is restricted subject to vesting and will
      vest upon the occurrence of a Series 3 Vesting Event, with the rights and privileges as set forth in this Agreement.

     

    “Series 4 RCU” means a Restricted Common Unit which is restricted subject to vesting and will
      vest upon the occurrence of a Series 4 Vesting Event, with the rights and privileges as set forth in this Agreement.

     

    “Series 1 Vesting Event” means the occurrence of (a) the $12.00 Share Price Milestone (as
      defined in the Merger Agreement) or (b) an Earnout Strategic Transaction $12.00 Vesting Event (as defined in the Merger Agreement).

     

    “Series 2 Vesting Event” means the occurrence of (a) the $14.00 Share Price Milestone (as
      defined in the Merger Agreement) or (b) an Earnout Strategic Transaction $14.00 Vesting Event (as defined in the Merger Agreement).

     

    
      10

      
        

    

    “Series 3 Vesting Event” means the occurrence of (a) the $16.00 Share Price Milestone (as
      defined in the Merger Agreement) or (b) an Earnout Strategic Transaction $16.00 Vesting Event (as defined in the Merger Agreement).

     

    “Series 4 Vesting Event” means the occurrence of (a) the $18.00 Share Price Milestone (as
      defined in the Merger Agreement) or (b) an Earnout Strategic Transaction $18.00 Vesting Event (as defined in the Merger Agreement).

     

    “Similar Law” means any law or regulation that could cause the underlying assets of the
      Company to be treated as assets of the Member by virtue of its limited liability company interest in the Company and thereby subject the Company and the Managing Member (or other persons responsible for the investment and operation of the Company’s
      assets) to laws or regulations that are similar to the fiduciary responsibility or prohibited transaction provisions contained in Title I of ERISA or Section 4975 of the Code.

     

    “Sponsor Letter Agreement” means the Letter Agreement dated as of [•], 2021 by and between
      HTP and Highland Transcend Partners, LLC, a Cayman Islands limited liability company, as amended from time to time.

     

    “Subsidiary” means, with respect to any Person, any corporation, limited liability company,
      partnership, association or business entity of which (i) if a corporation, a majority of the total voting power of shares of stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors, managers or
      trustees thereof is at the time owned or controlled, directly or indirectly, by that Person or one or more of the other Subsidiaries of that Person or a combination thereof, or (ii) if a limited liability company, partnership, association or other
      business entity (other than a corporation), a majority of partnership or other similar ownership interest thereof is at the time owned or controlled, directly or indirectly, by any Person or one or more Subsidiaries of that Person or a combination
      thereof. For purposes hereof, a Person or Persons shall be deemed to have a majority ownership interest in a limited liability company, partnership, association or other business entity (other than a corporation) if such Person or Persons shall be
      allocated a majority of limited liability company, partnership, association or other business entity gains or losses or shall be or control any managing director or general partner of such limited liability company, partnership, association or other
      business entity. For purposes hereof, references to a “Subsidiary” of the Company shall be given effect only at such times that the Company has one or more Subsidiaries, and, unless otherwise indicated, the term “Subsidiary” refers to a Subsidiary of
      the Company.

     

    “Tax Advances” has the meaning set forth in Section 5.07.

     

    “Tax Distributions” has the meaning set forth in Section 4.01(d)(ii).

     

    “Tax Estimation Period” shall mean each period from January 1 through March 31, from April 1
      through May 31, from June 1 through August 31, and from September 1 through December 31 of each taxable year.

     

    “Tax Receivable Agreement” means the Tax Receivable Agreement dated as of or about the date
      hereof among the Company, Managing Member and the other parties from time to time party thereto, as amended from time to time.

     

    “Transfer” means, in respect of any Unit, property or other asset, any sale, assignment,
      transfer, distribution, exchange, mortgage, pledge, hypothecation or other disposition thereof, whether voluntarily or by operation of Law, directly or indirectly, in whole or in part, including the exchange of any Unit for any other security or the
      entry into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of any Unit, whether any such transaction is to be settled by delivery of such securities, in cash or otherwise.
      The term “Transferred” shall have a meaning correlative to the foregoing.

     

    
      11

      
        

    

    “Transferee” means any Person that is a permitted transferee of a Member’s interest in the
      Company, or part thereof.

     

    “Treasury Regulations” means the income tax regulations, including temporary and proposed
      regulations, promulgated under the Code, as such regulations may be amended from time to time (including corresponding provisions of succeeding regulations).

     

    “Units” means the Common Units, which includes the Earnout Company Units, the Restricted
      Common Units and any other Class of Units that is established in accordance with this Agreement, which shall constitute limited liability company interests in the Company as provided in this Agreement and under the Act, entitling the holders thereof
      to the relative rights, title and interests in the profits, losses, deductions and credits of the Company at any particular time as set forth in this Agreement, and any and all other benefits to which a holder thereof may be entitled as a Member as
      provided in this Agreement, together with the obligations of such Member to comply with all terms and provisions of this Agreement.

     

    “Vesting Event” means (a) with respect to each Series 1 RCU, a Series 1 Vesting Event,  (b)
      with respect to each Series 2 RCU, a Series 2 Vesting Event, (c) with respect to each Series 3 RCU, a Series 3 Vesting Event and (d) with respect to each Series 4 RCU, a Series 4 Vesting Event.

     

    ARTICLE II

     

    FORMATION, TERM, PURPOSE AND POWERS

     

    2.01      Formation. The Company was formed as a limited liability company under the provisions of the Act by the filing of the Certificate on July 15, 2014. If requested by the Managing Member,
        the Members shall promptly execute all certificates and other documents consistent with the terms of this Agreement necessary for the Managing Member to accomplish all filing, recording, publishing and other acts as may be appropriate to comply
        with all requirements for (a) the formation and operation of a limited liability company under the Laws of the State of Delaware, (b) if the Managing Member in its sole discretion deems it advisable, the operation of the Company as a limited
        liability company, or entity in which the Members have limited liability, in all jurisdictions where the Company proposes to operate and (c) all other filings required to be made by the Company. The rights, powers, duties, obligations and
        liabilities of the Members shall be determined pursuant to the Act and this Agreement. To the extent that the rights, powers, duties, obligations and liabilities of any Member are different by reason of any provision of this Agreement than they
        would be in the absence of such provision, this Agreement shall, to the extent permitted by the Act, control. The execution, delivery and filing of the Certificate and each amendment thereto is hereby ratified, approved and confirmed by the
        Members.

     

    2.02      Name. The name of the Company shall be, and the business of the Company shall be conducted under the name of “Packable Holdings, LLC” and all Company business shall be conducted in that
        name or in such other names that comply with applicable Law as the Managing Member in its sole discretion may select from time to time. Subject to the Act, the Managing Member in its sole discretion may change the name of the Company (and amend
        this Agreement to reflect such change) at any time and from time to time without the consent of any other Person. Prompt notification of any such change shall be given to all Members.

     

    
      12

      
        

    

    2.03      Term. The term of the Company commenced on the date of the filing of the Certificate, and the term shall continue until the dissolution of the Company in accordance with Article IX. The
        existence of the Company shall continue until cancellation of the Certificate in the manner required by the Act.

     

    2.04       Offices. The Company may have offices at such places either within or outside the State of Delaware as the Managing Member from time to time may select in its sole discretion. As of the
        date hereof, the principal place of business and office of the Company is located at 1985 Marcus Ave, Suite 207, Lake Success, NY 11042.

     

    2.05       Agent for Service of Process; Existence and Good Standing; Foreign Qualification.

     

    (a)          The registered office of the Company in
        the State of Delaware shall be located at c/o Corporation Service Company, 2711 Centerville Road, Suite 400, Wilmington, Delaware 19808. The name of the registered agent of the Company for service of process on the Company in the State of Delaware
        at such address shall be Corporation Service Company.

     

    (b)       The Managing Member in its sole discretion
        may take all action which may be necessary or appropriate (i) for the continuation of the Company’s valid existence as a limited liability company under the Laws of the State of Delaware (and of each other jurisdiction in which such existence is
        necessary to enable the Company to conduct the business in which it is engaged) and (ii) for the maintenance, preservation and operation of the business of the Company in accordance with the provisions of this Agreement and applicable Laws and
        regulations. The Managing Member in its sole discretion may file or cause to be filed for recordation in the proper office or offices in each other jurisdiction in which the Company is formed or qualified, such certificates (including certificates
        of formation and fictitious name certificates) and other documents as are required by the applicable statutes, rules or regulations of any such jurisdiction or as are required to reflect the identity of the Members. The Managing Member in its sole
        discretion may cause the Company to comply, to the extent procedures are available and those matters are reasonably within the control of the Officers, with all requirements necessary to qualify the Company to do business in any jurisdiction other
        than the State of Delaware.

     

    2.06      Business Purpose. The Company was formed for the object and purpose of, and the nature and character of the business to be conducted by the Company is,
        engaging in any lawful act or activity for which limited liability companies may be formed under the Act.

     

    2.07      Powers of the Company. Subject to the limitations set forth in this Agreement, the Company will possess and may exercise all of the powers and privileges granted to it by the Act
        including the ownership and operation of the assets and other property contributed to the Company by the Members, by any other Law or this Agreement, together with all powers incidental thereto, so far as such powers are necessary or convenient to
        the conduct, promotion or attainment of the purpose of the Company set forth in Section 2.06.

     

    2.08       Members; Reclassification; Admission of New Members. Each of the Persons listed on Schedule I hereto, as the same may be amended from time to time in accordance with this Agreement, by
        virtue of its execution of this Agreement, are admitted as Members of the Company. The rights, duties and liabilities of the Members shall be as provided in the Act, except as is otherwise expressly provided herein, and the Members consent to the
        variation of such rights, duties and liabilities as provided herein. Subject to Section 8.07 with respect to substitute Members, a Person may be admitted from time to time as a new Member with the written consent of the Managing Member in its sole
        discretion. Each new Member shall execute and deliver to the Managing Member an appropriate supplement to this Agreement pursuant to which the new Member agrees to be bound by the terms and conditions of this Agreement, as it may be amended from
        time to time. A new Managing Member or substitute Managing Member may be admitted to the Company solely in accordance with Section 8.06 or Section 9.02(e) hereof.

     

    
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    2.09       Resignation. No Member shall have the right to resign as a member of the Company other than following the Transfer of all Units owned by such Member in accordance with Article VIII.

     

    2.10       Representations of Members. Each Member severally (and not jointly) represents and warrants to the Company and each other Member as of the date of such Member’s admittance to the Company
        (or as of the date hereof for any Member as of the date hereof) and as of each subsequent date that such Member acquires any additional Units that:

     

    (a)          Organization;

          Authority.

     

    (i)          To the extent it is not a natural
        person, (x) it is duly formed, validly existing and in good standing (if applicable) under the Laws of the jurisdiction of its formation, and if required by Law is duly qualified to conduct business and is in good standing in the jurisdiction of
        its principal place of business (if not formed in such jurisdiction), and (y) has full corporate, limited liability company, partnership, trust or other applicable power and authority to execute and deliver this Agreement and to perform its
        obligations under this Agreement and all necessary actions by the board of directors, shareholders, managers, members, partners, trustees, beneficiaries or other Persons necessary for the due authorization, execution, delivery and performance of
        this Agreement by that Member have been duly taken.

     

    (ii)        It has duly executed and delivered this
        Agreement, and this Agreement is enforceable against such Member in accordance with its terms, subject to bankruptcy, moratorium, insolvency and other Laws generally affecting creditors’ rights and general principles of equity (whether applied in a
        proceeding in a court of law or equity).

     

    (b)        Non-Contravention. Its authorization, execution, delivery, and performance of this Agreement does not breach or conflict with or constitute a default under (x) such Member’s charter or other governing documents to the extent it is
        not a natural person, (y) any material obligation under any other material agreement to which that Member is a party or by which it is bound or (z) applicable Law.

     

    (c)        Due
          Inquiry. It has had, prior to the execution and delivery of this Agreement, the opportunity to ask questions of and receive answers from representatives of the Company concerning an investment in the
        Company, as well as the finances, operations, business and prospects of the Company, and the opportunity to obtain additional information to verify the accuracy of all information so obtained, and received all such information about the Company and
        the Units as it has requested.

     

    (d)         Purpose
          of Investment. It is acquiring and holding its Units solely for investment purposes, for its own account and not for the account or benefit of any other Person and not with a view towards the distribution or dissemination thereof, did not
        decide to enter into this Agreement as a result of any general solicitation or general advertising within the meaning of Rule 502 of Regulation D under the Securities Act, and acknowledges and understands that no United States federal or state
        agency has passed upon or made any recommendation or endorsement of the offering of any Units.

     

    
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    (e)        Transfer
          Restrictions. It understands that the Units and the Class B Common Shares are each being Transferred in a transaction not involving a public offering within the meaning of the Securities Act, and the Units and Class B Common Shares will
        comprise “restricted securities” within the meaning of Rule 144(a)(3) under the Securities Act which shall not be sold, pledged, hypothecated or otherwise transferred except in accordance
        with the terms of this Agreement, the Company Voting and Support Agreement and applicable Law. It understands and agrees that each of the Units and Class B Common Shares received or retained by it as consideration under the Merger Agreement,
        including any Units or Class B Common Shares issued or delivered to it after the Closing pursuant to the Merger Agreement, may not be Transferred during the Lock-Up Period except in accordance with the terms hereof. It agrees that, if in the future
        it decides to offer, resell, pledge or otherwise Transfer any portion of its Units or Class B Common Shares, such Units and/or Class B Common Shares may be offered, resold or otherwise Transferred only pursuant to an effective registration
        statement under the Securities Act or an applicable exemption from registration and/or qualification under the Securities Act and applicable state securities Laws, and as a condition precedent to any such Transfer, it may be required to deliver to
        the Company an opinion of counsel satisfactory to the Company, and agrees, absent registration or an exemption with respect to its Units, not to resell any such Units and/or Class B Common Shares.

     

    (f)          Investor

          Status. It (i) has adequate means of providing for its current needs and possible contingencies, is able to bear the economic risks of its investment for an indefinite period of time and has a sufficient net worth to sustain a loss of its
        entire investment in the Company in the event such loss should occur, (ii) is sophisticated in financial matters and has such knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of an
        investment in the Company, (iii) is, or is controlled by, an “accredited investor,” as that term is defined in Rule 501(a) of Regulation D, promulgated under the Securities Act, and acknowledges the issuance of Units under this Agreement is being
        made in reliance on a private placement exemption to “accredited investors” within the meaning of Section 501(a) of Regulation D under the Securities Act or similar exemptions under federal and state Law, and (iv) is treated as a single partner
        within the meaning of Treasury Regulations Section 1.7704-1(h) (determined taking into account the rules of Treasury Regulations Section 1.7704-1(h)(3)).

     

    2.11      Amendment and Restatement of Existing LLC Agreement. Each of the Members agrees and acknowledges that this Agreement amends and restates the Existing LLC Agreement, which is no longer in
        effect.

     

    ARTICLE III

     

    MANAGEMENT

     

    3.01       Managing Member.

     

    (a)         Except for situations in which the
        approval of one or more of the Members is specifically required by the express terms of this Agreement, and subject to the provisions of this Article III, the business, property and affairs of the Company shall be managed under the sole, absolute
        and exclusive direction of the Managing Member, which may from time to time delegate authority to Officers or to others to act on behalf of the Company, and the Managing Member shall have the sole power to bind or take any action on behalf of the
        Company, or to exercise any rights and powers (including the rights and powers to take certain actions, give or withhold certain consents or approvals, or make certain determinations, opinions, judgments or other decisions) granted to the Company
        under this Agreement or any other agreement, instrument or other document to which the Company is a party.

     

    (b)        Without limiting the generality of the
        foregoing, but subject to any situations in which the approval of the Members is specifically required by this Agreement, (x) the Managing Member shall have discretion in determining whether to issue Equity Interests of the Company, the number of
        Equity Interests of the Company to be issued at any particular time, the purchase price for any Equity Interests of the Company issued, and all other terms and conditions governing the issuance of Equity Interests of the Company and (y) the
        Managing Member may enter into, approve, and consummate any Liquidity Event or other extraordinary or business combination or divestiture transaction, and execute and deliver on behalf of the Company or the Members any agreement, document and
        instrument in connection therewith (including amendments, if any, to this Agreement or adoptions of new constituent documents) without the approval or consent of any Member. The Managing Member shall operate the Company and its Subsidiaries in
        accordance in all material respects with an annual budget, business plan and financial forecasts for the Company and its Subsidiaries for each fiscal year.

     

    
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    (c)         The Managing Member shall be the
        “manager” of the Company for the purposes of the Act. The Managing Member is hereby designated as an authorized person, within the meaning of the Act, to execute, deliver and file the certificate of formation of the Company and all other
        certificates (and any amendments and/or restatements thereof) required or permitted by the Act to be filed in the Office of the Secretary of State of the State of Delaware. The Managing Member is hereby authorized to execute, deliver and file any
        other certificates (and any amendments and/or restatements thereof) necessary for the Company to qualify to do business in a jurisdiction in which the Company may wish to conduct business. Notwithstanding any other provision of this Agreement to
        the contrary, without the consent of any Member or other Person being required, the Company is hereby authorized to execute, deliver and perform, and the Managing Member or any officer on behalf of the Company, is hereby authorized to execute and
        deliver (i) each Tax Receivable Agreement; and (ii) any amendment and any agreement, document or other instrument contemplated thereby or related thereto. The Managing Member or any officer is hereby authorized to enter into the documents described
        in the preceding sentence on behalf of the Company, but such authorization shall not be deemed a restriction on the power of the Managing Member or any officer to enter into other documents on behalf of the Company. Nothing set forth in this
        Agreement shall reduce or restrict the rights of any Person set forth in the Tax Receivable Agreement, subject to the terms and conditions thereof.

     

    (d)       Without limiting the foregoing provisions
        of this Section 3.01, the Managing Member shall have the general power to manage or cause the management of the Company (which may be delegated to Officers of the Company), including the following powers:

     

    (i)        to develop and prepare a business plan
        each year which will set forth the operating goals and plans for the Company;

     

    (ii)        to execute and deliver or to authorize
        the execution and delivery of contracts, deeds, leases, licenses, instruments of transfer and other documents on behalf of the Company;

     

    (iii)     to make any expenditures, to lend or
        borrow money, to assume or guarantee, or otherwise contract for, indebtedness and other liabilities, to issue evidences of indebtedness and to incur any other obligations;

     

    (iv)        to establish and enforce limits of
        authority and internal controls with respect to all personnel and functions;

     

    (v)         to engage attorneys, consultants and
        accountants for the Company;

     

    (vi)      to develop or cause to be developed
        accounting procedures for the maintenance of the Company’s books of account; and

     

    (vii)       to do all such other acts as shall be
        authorized in this Agreement or by the Members in writing from time to time.

     

    (e)         The Managing Member may resign at any
        time by giving written notice to the Members. Unless otherwise specified in the notice, the resignation shall take effect upon receipt thereof by the Members, and the acceptance of the resignation shall not be necessary to make it effective. For
        the avoidance of doubt, the Members have no right under this Agreement to remove or replace the Managing Member.

     

    
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    3.02      Compensation. The Managing Member shall not be entitled to any compensation for services rendered to the Company in its capacity as Managing Member.

     

    3.03      Expenses. The Company shall pay, or cause to be paid, all costs, fees, operating expenses and other expenses of the Company (including the costs, fees and
        expenses of attorneys, accountants or other professionals) incurred in pursuing and conducting, or otherwise related to, the activities of the Company. The Company shall also, in the sole discretion of the Managing Member, bear and/or reimburse the
        Managing Member for (i) any costs, fees or expenses incurred by the Managing Member in connection with serving as the Managing Member and (ii) all other expenses allocable to the Company or otherwise incurred by the Managing Member in connection
        with operating the Company’s business (including expenses allocated to the Managing Member by its Affiliates). To the extent that the Managing Member determines in its sole discretion that such expenses are related to the business and affairs of
        the Managing Member that are conducted through the Company and/or its subsidiaries (including expenses that relate to the business and affairs of the Company and/or its subsidiaries and that also relate to other activities of the Managing Member),
        the Managing Member may cause the Company to pay or bear all expenses of the Managing Member, including compensation and meeting costs of any board of directors or similar body of the Managing Member, any salary, bonus, incentive compensation and
        other amounts paid to any Person including Affiliates of the Managing Member to perform services for the Company, litigation costs and damages arising from litigation, accounting and legal costs and franchise taxes, provided that the Company shall not pay or bear any income tax obligations of the Managing Member or any obligations of the Managing Member under the Tax Receivable Agreement. Reimbursements pursuant to this Section 3.03 shall be
        in addition to any reimbursement to the Managing Member as a result of indemnification pursuant to Section 10.02.

     

    3.04      Officers. Subject to the direction and oversight of the Managing Member, the day-to-day administration of the business of the Company may be carried out by
        persons who may be designated as officers by the Managing Member, with titles including “assistant secretary,” “assistant treasurer,” “chairman,” “chief executive officer,” “chief financial officer,” “chief operating officer,” “director,” “general
        counsel,” “general manager,” “managing director,” “president,” “principal accounting officer,” “secretary,” “senior chairman,” “senior managing director,” “treasurer,” “vice chairman,” “executive vice president” or “vice president,” and as and to
        the extent authorized by the Managing Member in its sole discretion. The officers of the Company shall have such titles and powers and perform such duties as shall be determined from time to time by the Managing Member and otherwise as shall
        customarily pertain to such offices. Any number of offices may be held by the same person. In its sole discretion, the Managing Member may choose not to fill any office for any period as it may deem advisable. All officers and other persons
        providing services to or for the benefit of the Company shall be subject to the supervision and direction of the Managing Member and may be removed, with or without cause, from such office by the Managing Member and the authority, duties or
        responsibilities of any employee, agent or officer of the Company may be suspended by the Managing Member from time to time, in each case in the sole discretion of the Managing Member. The Managing Member shall not cease to be a Managing Member of
        the Company as a result of the delegation of any duties hereunder. No officer of the Company, in its capacity as such, shall be considered a Managing Member of the Company by agreement, as a result of the performance of its duties hereunder or
        otherwise.

     

    
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    3.05      Authority of Members. No Member (other than the Managing Member), in its capacity as such, shall participate in or have any control over the business of the
        Company. Except as expressly provided herein, the Units do not confer any rights upon the Members to participate in the affairs of the Company described in this Agreement. Except as expressly provided herein, no Member (other than the Managing
        Member) shall have any right to vote on any matter involving the Company, including with respect to any merger, consolidation, combination or conversion of the Company, or any other matter that a Member might otherwise have the ability to vote on
        or consent with respect to under the Act, at law, in equity or otherwise. The conduct, control and management of the Company shall be vested exclusively in the Managing Member. In all matters relating to or arising out of the conduct of the
        operation of the Company, the decision of the Managing Member shall be the decision of the Company. Except as required or permitted by Law, or expressly provided in the ultimate sentence of this Section 3.05 or by separate agreement with the
        Company, no Member who is not also the Managing Member (and acting in such capacity) shall take any part in the management or control of the operation or business of the Company in its capacity as a Member, nor shall any Member who is not also the
        Managing Member (and acting in such capacity) have any right, authority or power to act for or on behalf of or bind the Company in his or its capacity as a Member in any respect or assume any obligation or responsibility of the Company or of any
        other Member. Notwithstanding the foregoing, the Company may from time to time appoint one or more Members as officers or employ one or more Members as employees, and such Members, in their capacity as officers or employees of the Company (and not,
        for clarity, in their capacity as Members of the Company), may take part in the control and management of the business of the Company to the extent such authority and power to act for or on behalf of the Company has been delegated to them by the
        Managing Member.

     

    3.06     Action by Written Consent or Ratification. Any action required or permitted to be taken by the Members pursuant to this Agreement shall be taken if all Members whose consent or
        ratification is required consent thereto or provide a consent or ratification in writing. Any action required, required to be approved or permitted to be taken by the Managing Member pursuant to this Agreement may be taken or approved, as
        applicable, by the Managing Member acting pursuant to a writing which evidences its approval of or consent to such action.

     

    3.07       Investment Company Act Restrictions. The Managing Member shall use its best efforts to ensure that the Company shall not be subject to registration as an investment company pursuant to
        the Investment Company Act.

     

    3.08      Transactions Between the Company and the Managing Member. The Managing Member may cause the Company to contract and deal with the Managing Member, or any Affiliate of the Managing Member; provided, that such contracts and dealings (other than contracts and dealings between the Company and its Subsidiaries) are on terms comparable in all material respects to with those available to the Company
        from others dealing at arm’s length or are approved by the Requisite Members; provided that the foregoing shall in no way limit the Managing Member’s rights under Section 3.01, Section 3.02,
        Section 3.03 or Section 3.06. The Members hereby approve each of the contracts or agreements between or among the Managing Member, the Company and their respective Affiliates entered into on or prior to the date of this Agreement in
        accordance with the Existing LLC Agreement or that the board of managers of the Company or the Board has approved in connection with the transactions contemplated by the Merger Agreement.

     

    ARTICLE IV

     

    DISTRIBUTIONS

     

    4.01       Distributions

     

    (a)       Distributions Generally. The Managing Member may, subject to (i) any restrictions contained in the financing agreements to which the Company or any its Subsidiaries is a party, (ii) having Available Cash, and
        (iii) any other restrictions set forth in this Agreement, make Distributions at any time and from time to time. Notwithstanding any other provision of this Agreement to the contrary, no Distribution, Tax Distribution or other payment in respect of
        Units shall be required to be made to any Member if, and to the extent that, such Distribution, Tax Distribution or other payment in respect of Units would not be permitted under the Act or other applicable Law.

     

    
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    (b)       Operating Distributions. The Managing Member, in its sole discretion, may authorize Distributions (to the extent of Available Cash) by the Company to the Members at any time and from time to time. Subject to Section 4.01(d) with respect to Tax Distributions, all Distributions by the Company other than those made in connection with a Liquidity Event pursuant to Section 4.02, shall be made or
        allocated to holders of Participating Units pro rata based on the number of Participating Units held by each such holder.

     

    (c)       Restricted

          Common Unit Distributions. No Restricted Common Unit shall be entitled to receive any Distributions pursuant to Section 4.01(b) or Section 4.02 unless and until a Vesting Event has occurred with respect to such Restricted
        Common Unit.  No later than five (5) Business Days following the applicable Conversion Date with respect to a Restricted Common Unit, for each Restricted Common Unit for which the Vesting Event has occurred, the Company shall pay to the holder of
        such Restricted Common Unit an aggregate amount equal to the aggregate per Participating Unit amount of Distributions actually paid pursuant to Section 4.01(b) or Section 4.02 (but, for the avoidance of doubt, excluding any Tax Distributions that
        have not offset Distributions pursuant to Section 4.01(b) or Section 4.02) at the time of the payment pursuant to this Section 4.01(c) during the Distribution Catch-Up Period relevant to such Restricted Common Unit (and if any in-kind Distribution
        was made during the Distribution Catch-Up Period, (which, for the avoidance of doubt, for purposes of this Agreement, shall not include any Exchange Transaction) to the extent feasible (and not requiring any approval (including at PubCo) other than
        that of the Managing Member in its capacity as such) identical property, or if not feasible (or if requiring any such approval) an amount in cash equal to the Fair Market Value per Participating Unit of such in-kind Distribution at the time such
        Distribution was made (such Distribution, a “Distribution Catch-Up Payment”). If the full Distribution Catch-Up Payments cannot be timely made in accordance with the immediately preceding
        sentence, no Distribution will be made pursuant to Section 4.01(b) or Section 4.02 until all Distribution Catch-Up Payments are made. To the extent that the applicable Conversion Date in respect of a Restricted Common Unit occurs following the date
        that a Distribution is declared under Section 4.01(b) or Section 4.02, but on or before the date such Distribution is paid, the amount distributable on each Unit in such Distribution shall not be included in the Distribution Catch-Up Payment to the
        extent paid in accordance with the immediately following clause, and such holder of such Restricted Common Unit shall be entitled to receive such Distribution when paid to the holders of Participating Units, assuming such holder continues to hold a
        Participating Unit on the record date with respect to such Distribution and receives such Distribution.

     

    
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    (d)         Tax Distributions.

     

    (i)         With respect to each Member the Company
        shall calculate the excess of (x)(A) the Income Amount allocated or allocable to such Member for the Tax Estimation Period in question and for all preceding Tax Estimation Periods, if any, within the taxable year containing such Tax Estimation
        Period multiplied by (B) the Assumed Tax Rate over (y) the aggregate amount of all prior Tax Distributions in respect of such taxable year and any Distributions made to such Member pursuant to Section 4.01(b), 4.01(c) and Section 4.02, with respect
        to the Tax Estimation Period in question and any previous Tax Estimation Period falling in the taxable year containing the applicable Tax Estimation Period referred to in (x)(A) (the amount so calculated pursuant to this sentence is herein referred
        to as a “Member’s Required Tax Distribution”); provided, however, that the Managing Member may make adjustments in its reasonable discretion to
        reflect transactions occurring during the taxable year; provided, further, that if the amount of a Tax Distribution actually made with respect to a Tax Estimation Period is greater than or less than such
        Member’s Tax Distribution that would have been made under this Section 4.01(d)(i) for such period based on subsequent tax information and assuming no limitations based on prohibitions under applicable Law, Available Cash, or insolvency (such
        limitations, the “Liquidity Limitations”) (e.g., because the estimated Tax Distribution for a Tax Estimation Period was greater than or less than the amount calculated based on actual taxable income for such Tax Estimation Period or because such
        Tax Distribution would have rendered the Company insolvent), then, for  subsequent Tax Estimation Periods, the Managing Member shall, subject to the Liquidity Limitations, cause the Company to adjust the next Tax Distribution downward (but not
        below zero) or upward (but in any event pro rata in proportion to the Members’ respective number of Participating Units) to reflect such excess or shortfall. For purposes of this Agreement, the “Income

          Amount” for a Tax Estimation Period shall equal, with respect to any Member, the net taxable income (or, if applicable, gross taxable income, except to the extent offset by items of loss thereof) of the Company allocated or allocable to
        such Member for such Tax Estimation Period (excluding any compensation paid to a Member but taking into account any corrective allocations made pursuant to Section 5.05(i) or Section 5.05(k)). For purposes of computing the Income Amount, the
        taxable income shall be determined (i) without regard to any special adjustments of tax items required as a result of any election under Section 754 of the Code, including adjustments required by Sections 734 and 743 of the Code, and (ii) by
        including adjustments to taxable income in respect of Section 704(c) of the Code (including “reverse Section 704(c) allocations”).  For the avoidance of doubt, taxable income will include any amounts required to be included in taxable income by a
        Member as a result of ownership by the Company of an entity classified as a: (i) PFIC (including by reason of a QEF election or a mark-to-market election) or (ii) “controlled foreign corporation” within the meaning of Section 957 of the Code in
        which a Member (or any of its direct or indirect owners) could be a “United States shareholder” for U.S. federal income tax purposes.

     

    (ii)       At least five (5) days before the quarterly due date for payment of estimated tax payments by corporations or individuals (whichever is earlier) on a calendar year under the Code, the Company shall distribute (to the extent
        of Available Cash and unless prohibited by applicable Law or by any restrictions applicable to tax distributions contained in the Company’s or its Subsidiaries’ then applicable bank financing agreements by which the Company or its Subsidiaries are
        bound) to the Members pro rata in accordance with their Common Percentage Interest, an aggregate amount of cash sufficient to provide each such Member with a Distribution at least equal to such Member’s
        Required Tax Distribution (with amounts distributed pursuant to this Section 4.01(d), “Tax Distributions”). Notwithstanding anything to the contrary contained in this LLC Agreement, (a)
        the Managing Member shall make, in its reasonable discretion, equitable adjustments (downward (but not below zero) or upward) to the Members’ Tax Distributions (but in any event pro rata in proportion to the Members’ respective number of Common
        Units) to take into account increases or decreases in the number of Common Units held by each Member during the relevant period (including as a result of conversion of any Restricted Common Units into Common Units in connection with the occurrence
        of a Vesting Event); provided that no such adjustments shall be made that would have a material adverse effect on the Continuing Members without the Continuing Member Representative’s prior written consent (which consent shall not be unreasonably
        withheld, conditioned, or delayed), and (b) no Tax Distributions (or downward (but not below zero) or upward adjustment to any Tax Distributions) shall be made other than on a pro rata basis in proportion to the Members’ respective number of Common
        Units.  Any Tax Distributions shall be treated in all respects as advances against future Distributions pursuant to Section 4.01(b) and Section 4.02 and shall be treated for all purposes of this Agreement as having been paid
        pursuant to Section 4.01(b) or Section 4.02, as applicable.

     

    (iii)        Notwithstanding anything to the
        contrary herein, no Tax Distributions will be required to be made with respect to items arising with respect to any Covered Transaction, although any unpaid Tax Distributions with respect to any Tax Estimation Period, or portion thereof, ending
        before a Covered Transaction shall continue to be required to be paid prior to any Distributions being made under Section 4.01(b) and Section 4.02.

     

    
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    4.02       Liquidation Distribution. Subject to Section 4.01(d) with respect to Tax Distributions, all Distributions by the Company, and all proceeds (whether received
        by the Company or directly by the Members) in connection with dissolution of the Company shall be made or allocated among the holders of Participating Units pro rata based on the number of Participating
        Units held by each such holder.

     

    4.03       Limitations on Distribution. Notwithstanding any provision to the contrary contained in this Agreement, the Managing Member shall not make a Distribution to any Member if such
        Distribution would violate Section 18-607 of the Act or other applicable Law.

     

    4.04      Use of Distribution Funds. The Managing Member shall use Distributions received from the Company for payment of taxes, obligations under the Tax Receivable Agreement,
        liabilities or expenses, to loan funds to the Company in accordance with this Agreement, for the payment of dividends to its shareholders or for other general corporate purposes as determined in the sole discretion of the Managing Member; provided
        that the Managing Member may not use such Distributions to acquire any Units, except as otherwise provided in Section 7.04.

     

    4.05       Earnout Company Unit Distributions. Notwithstanding anything in this Article IV to the contrary, for all purposes of this Article IV, any
        distributions that would be made to PubCo pursuant to this Article IV in respect of the Common Units held by PubCo that are Earnout Company Units (other than pursuant to Section 4.01(d)) and that have not satisfied the earnout criteria
        applicable to the Deferred Founder Shares set forth in the Sponsor Letter Agreement at the time such distribution is made shall be held back, placed into escrow and recorded by the Company and such amounts shall either be (a) released to PubCo at
        such time (if any) as such Earnout Company Units satisfy the earnout criteria set forth in the Sponsor Letter Agreement or (b) released to the Company at such time as such Earnout Company Units are forfeited to the Company in accordance with the
        Sponsor Letter Agreement.  Notwithstanding anything to the contrary in this Agreement, prior to satisfaction of the earnout criteria applicable to the Deferred Founder Shares set forth in the Sponsor Letter Agreement with respect to an Earnout
        Company Unit, PubCo will not have the right to vote with respect to such Earnout Company Unit under this Agreement and shall not be entitled to distributions except to the extent otherwise set forth in this Section 4.05.

     

    ARTICLE V

     

    CAPITAL CONTRIBUTIONS; CAPITAL ACCOUNTS;

     

    TAX ALLOCATIONS; TAX MATTERS

     

    5.01       Initial Capital Contributions. The Members have made, on or prior to the date hereof, Capital Contributions and, in exchange, the Company has issued to the Members the number of Common
        Units as specified in the books and records of the Company.

     

    5.02       No Additional Capital Contributions. No Member shall be required to make additional Capital Contributions to the Company without the consent of such Member or permitted to make additional
        capital contributions to the Company without the consent of the Managing Member, which may be granted or withheld in its sole discretion.

     

    5.03      Capital Accounts. A separate capital account (a “Capital Account”) shall be established and
        maintained for each Member in accordance with the provisions of Treasury Regulations Section 1.704-1(b)(2)(iv) and this Section 5.03. The Company may adjust the Capital Accounts of its Members to reflect revaluations of the property of any
        Subsidiary of the Company that is treated as a partnership (or entity disregarded from a partnership) for U.S. federal income tax purposes. The Capital Account of each Member shall be credited with such Member’s Capital Contributions, if any, all
        Profits allocated to such Member pursuant to Section 5.04 and any items of income or gain which are specially allocated pursuant to Section 5.05; and shall be debited with all Losses allocated to such Member pursuant to Section 5.04, any items of
        loss or deduction of the Company specially allocated to such Member pursuant to Section 5.05, and all cash and the Carrying Value of any property (net of liabilities assumed by such Member and the liabilities to which such property is subject)
        distributed by the Company to such Member. Any references in any section of this Agreement to the Capital Account of a Member shall be deemed to refer to such Capital Account as the same may be credited or debited from time to time as set forth
        above. In the event of any Transfer of any interest in the Company in accordance with the terms of this Agreement, the Transferee shall succeed to the Capital Account of the transferor to the extent it relates to the transferred interest.

     

    
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    5.04     Allocations of Profits and Losses. Except as otherwise provided in this Agreement, Profits and Losses (and, to the extent necessary, individual items of
        income, gain or loss or deduction of the Company) shall be allocated in a manner such that the Capital Account of each Member after giving effect to the special allocations set forth in Section 5.05 is, as nearly as possible, equal
        (proportionately) to (i) the Distributions that would be made pursuant to Section 4.02 if the Company were dissolved, its affairs wound up and its assets sold for cash equal to their Carrying Value, all Company liabilities were satisfied in cash in
        accordance with their terms (limited with respect to each nonrecourse liability to the Carrying Value of the assets securing such liability) and all remaining or resulting cash was distributed to the Members, minus (ii) such Member’s share of
        Company Minimum Gain and Member Nonrecourse Debt Minimum Gain, computed immediately prior to the hypothetical sale of assets. Notwithstanding the foregoing, the Managing Member shall make such adjustments to Capital Accounts as it determines in its
        reasonable discretion to be appropriate to ensure allocations are made in accordance with a Member’s interest in the Company.

     

    5.05        Special Allocations. Notwithstanding any other provision in this Article V:

     

    (a)       Minimum Gain Chargeback. If there is a net decrease in Company Minimum Gain or Member Nonrecourse Debt Minimum Gain (determined in accordance with the principles of Treasury Regulations Sections 1.704-2(d) and
        1.704-2(i)) during any Company taxable year, the Members shall be specially allocated items of Company income and gain for such year (and, if necessary, subsequent years) in an amount equal to their respective shares of such net decrease during
        such year, determined pursuant to Treasury Regulations Section 1.704-2(i)(4). The items to be so allocated shall be determined in accordance with Treasury Regulations Sections 1.704-2(i)(4) and 1.704-2(j)(2). This Section 5.05(a) is intended to
        comply with the minimum gain chargeback requirements in such Treasury Regulations Sections and shall be interpreted consistently therewith, including that no chargeback shall be required to the extent of the exceptions provided in Treasury
        Regulations Sections 1.704-2(f) and 1.704-2(i)(4).

     

    (b)         Qualified Income Offset. If any Member unexpectedly receives any adjustments, allocations, or distributions described in Treasury Regulations Section 1.704-1(b)(2)(ii)(d)(4), (5) or (6), items of Company income
        and gain shall be specially allocated to such Member in an amount and manner sufficient to eliminate the deficit balance in such Member’s Adjusted Capital Account Balance created by such adjustments, allocations or distributions as promptly as
        possible; provided that an allocation pursuant to this Section 5.05(b) shall be made only to the extent that a Member would have a deficit Adjusted Capital Account Balance in excess of such sum after all other allocations provided for in this
        Article V have been tentatively made as if this Section 5.05(b) were not in this Agreement. This Section 5.05(b) is intended to comply with the “qualified income offset” requirement of the Code and shall be interpreted consistently therewith.

     

    (c)         Gross Income Allocation. If any Member has a deficit Capital Account at the end of any Fiscal Year which is in excess of the sum of (i) the amount such Member is obligated to restore, if any, pursuant to any
        provision of this Agreement, and (ii) the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentences of Treasury Regulations Section 1.704-2(g)(1) and 1.704-2(i)(5), each such Member shall be specially allocated
        items of Company income and gain in the amount of such excess as quickly as possible; provided that an allocation pursuant to this Section 5.05(c) shall be made only if and to the extent that a Member would have a deficit Capital Account in excess
        of such sum after all other allocations provided for in this Article V have been tentatively made as if Section 5.05(b) and this Section 5.05(c) were not in this Agreement.

     

    
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    (d)      Nonrecourse

          Deductions. Nonrecourse Deductions shall be allocated to the Members holding Common Units in accordance with their respective Common Percentage Interest.

     

    (e)       Member
          Nonrecourse Deductions. Member Nonrecourse Deductions for any taxable period shall be allocated to the Member who bears the economic risk of loss with respect to the liability to which such Member Nonrecourse Deductions are attributable in
        accordance with Treasury Regulations Section 1.704-2(i)(1).

     

    (f)          Section
          754 Adjustments. To the extent an adjustment to the adjusted tax basis of any Company asset, pursuant to Code Section 734(b) or Section 743(b) is required, pursuant to Treasury Regulations Section 1.704-1(b)(2)(iv)(m)(2) or Section
        1.704-1(b)(2)(iv)(m)(4), to be taken into account in determining Capital Accounts as the result of a Distribution to a Member in complete liquidation of such Member's interest in the Company, the amount of such adjustment to Capital Accounts shall
        be treated as an item of gain (if the adjustment increases the basis of the asset) or loss (if the adjustment decreases such basis) and such gain or loss shall be specially allocated to the Members in accordance with their interests in the Company
        in the event Treasury Regulations Section 1.704-1(b)(2)(iv)(m)(2) applies, or to the Member to whom such Distribution was made in the event Treasury Regulations Section 1.704-1(b)(2)(iv)(m)(4) applies.

     

    (g)       Ameliorative Allocations. Any special allocations of income or gain pursuant to Sections 5.05(a), 5.05(b) or 5.05(c) hereof shall be taken into account in computing subsequent
        allocations pursuant to Section 5.04 and this Section 5.05(g), so that the net amount of any items so allocated and all other items allocated to each Member shall, to the extent possible, be equal to the net amount that would have been allocated to
        each Member if such allocations pursuant to Sections 5.05(a), 5.05(b) or 5.05(c) had not occurred.

     

    (h)         Allocations Relating to Taxable Issuance of Company Units. Any income, gain, loss, or deduction realized as a direct or indirect result of the issuance of Units by the Company to a
        Member (the "Issuance Items") shall be allocated among the Members so that, to the extent possible, the net amount of such Issuance Items, together with all other allocations under this
        Agreement to each Member shall be equal to the net amount that would have been allocated to each such Member if the Issuance Items had not been realized. The forfeiture allocations described in Proposed Regulations Section 1.704-1(b)(4)(xii)(C)
        (2005), and the allocations to which they relate, shall be treated as Issuance Items.

     

    (i)         Restricted

          Common Units. Notwithstanding anything to the contrary contained in this Agreement, (1) no allocation (of Profits or Losses or otherwise) shall be made in respect of any Restricted Common Units in determining Capital Accounts unless and
        until such Restricted Common Units are converted into Common Units upon the occurrence of a Vesting Event and (2) in the event the Carrying Value is adjusted pursuant to clause (g) of the definition of Carrying Value, any Profits or Losses
        resulting from such adjustment shall, in the manner reasonably determined by the Managing Member, be allocated among the Members (including the Members who held the Restricted Common Units giving rise to such adjustment) such that the Capital
        Account balance relating to each Common Unit (including such Restricted Common Units that have been converted into Common Units) is equal in amount immediately after making such allocation, after taking into account the Distribution Catch-Up
        Payment, in accordance with principles similar to those set forth in Treasury Regulations Section 1.704-1(b)(2)(iv)(s); provided, that if the foregoing allocations pursuant to clause (2) are insufficient to cause the Capital Account balance
        relating to each Common Unit to be so equal in amount, then the Managing Member, in its reasonable discretion, shall cause a Capital Account reallocation in accordance with principles similar to those set forth in Treasury Regulations Section
        1.704-1(b)(2)(iv)(s)(3) to cause the Capital Account balance relating to each Common Unit to be so equal in amount.

     

    
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    (j)         Forfeiture Allocation. In the event that the Units of any Member are forfeited, then for the fiscal year of such forfeiture or other period (as determined
        by the Managing Member):

     

    (i)         items of income, gain, loss, and deduction shall be excluded from the calculation of Profits and Losses and shall be specially allocated to the Member whose Units have been forfeited so as to cause such Member’s Capital
        Account to equal such Member’s Distribution entitlements under Section 4.01 after giving effect to the adjustment in the Member’s Common Percentage Interest resulting from the applicable forfeiture;

     

    (ii)       the Managing Member may elect to apply
        another allocation or Capital Account adjustment method to a Unit forfeiture as it reasonably deems appropriate in lieu of the method set forth in this Section 5.05(i).

     

    (k)       Noncompensatory

          Options.  If, as a result of an exercise of a noncompensatory option to acquire an interest in the Company, a Capital Account reallocation is required under Treasury Regulations Section 1.704-1(b)(2)(iv)(s)(3), the Company shall make
        corrective allocations pursuant to Treasury Regulations Section 1.704-1(b)(4)(x).

     

    5.06      Tax Allocations. For income tax purposes, each item of income, gain, loss and deduction of the Company shall be allocated among the Members in the same manner as the corresponding items
        of Profits and Losses and specially allocated items are allocated for Capital Account purposes; provided that in the case of any asset the Carrying Value of which differs from its adjusted tax basis for
        U.S. federal income tax purposes, income, gain, loss and deduction with respect to such asset shall be allocated solely for income tax purposes in accordance with the principles of Sections 704(b) and (c) of the Code (in any manner determined by
        the Managing Member and permitted by the Code and Treasury Regulations; provided that, except as otherwise provided in this Section 5.06, the prior written consent of the Requisite Members shall be required for use of any method other than the
        traditional method (without curative allocations) described in Treasury Regulation Section 1.704-3(b)) so as to take account of the difference between Carrying Value and adjusted basis of such asset; provided
          further that with respect to the reverse Section 704(c) allocations resulting from the adjustment that occurred immediately prior to the investment by Carlyle in connection with the Existing Agreement and the subsequent purchase of
        interests in the Company by Carlyle pursuant to the Purchase Agreement (as defined in the Existing Agreement), the Company shall adopt the “remedial allocation method” described in Treasury Regulation Section 1.704-3(d) (unless otherwise consented
        to by Carlyle), for making such allocations. Notwithstanding the foregoing, the Managing Member shall make such allocations for tax purposes as it determines in its reasonable discretion, subject to, for so long as the Continuing Members
        collectively own at least 10% of the Units, the prior written consent, not to be unreasonably withheld, conditioned or delayed, of the Requisite Members, to be appropriate to ensure allocations are made in accordance with a Member’s interest in the
        Company.

     

    
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    5.07       Tax Advances. If the Company or any other Person in which the Company holds an interest is required by Law to withhold or to make tax payments on behalf of
        or with respect to any Member, or the Company is subjected to tax itself (including any amounts withheld from amounts directly or indirectly payable to the Company or to any other Person in which the Company holds an interest) by reason of the
        status of any Member as such or that is specifically attributable to a Member (including federal, state, local or foreign withholding, personal property, unincorporated business or other taxes, the amount of any taxes arising under the Revised
        Partnership Audit Provisions, the amount of any taxes imposed under Code Section 1446(f), and any interest, penalties, additions to tax, and expenses related to any such amounts) (“Tax Advances”),

        the Managing Member may cause the Company to withhold such amounts and cause the Company to make such tax payments as so required. All Tax Advances made on behalf of a Member shall be repaid by reducing the amount of the current or next succeeding
        Distribution or Distributions which would otherwise have been made to such Member or, if such Distributions are not sufficient for that purpose, by so reducing the proceeds of liquidation otherwise payable to such Member. For all purposes of this
        Agreement, such Member shall be treated as having received the amount of the Distribution that is equal to the Tax Advance. Each Member hereby agrees to indemnify and hold harmless the Company and the other Members from and against any liability
        (including any liability for taxes, penalties, additions to tax or interest other than any penalties, additions to tax or interest imposed as a result of the Company’s failure to withhold or make a tax payment on behalf of such Member which
        withholding or payment is required pursuant to applicable Law) with respect to income attributable to or Distributions or other payments to such Member. For the avoidance of doubt, any income taxes, penalties, additions to tax and interest payable
        by the Company or any fiscally transparent entity in which the Company owns an interest shall be treated as specifically attributable to the Members and shall be allocated among the Members such that the burden of (or any diminution in
        distributable proceeds resulting from) any such amounts is borne by those Members to whom such amounts are specifically attributable (whether as a result of their status, actions, inactions or otherwise, including pursuant to an allocation made
        under Section 5.08), in each case as reasonably determined by the Managing Member. For the avoidance of doubt, any taxes, penalties, and interest payable under the Revised Partnership Audit Provisions by the Company or any fiscally transparent
        entity in which the Company owns an interest shall be treated as specifically attributable to the Members of the Company, and the Managing Member shall use commercially reasonable efforts to allocate the burden of (or any diminution in
        distributable proceeds resulting from) any such taxes, penalties or interest to those Members to whom such amounts are specifically attributable (whether as a result of their status, actions, inactions or otherwise), as reasonably determined by the
        Managing Member.

     

    5.08       Partnership Representative.

     

    (a)      The Managing Member is hereby designated as
        the “partnership representative” as that term is defined in Revised Partnership Audit Provisions for taxable years of the Company beginning with the taxable year including the Effective Date. In addition, the Managing Member is hereby authorized to
        designate or remove any other Person selected by the Managing Member as the Partnership Representative. For each Fiscal Year in which the Partnership Representative is an entity, the Company shall appoint an individual identified by the Partnership
        Representative for such Fiscal Year to act on its behalf (the “Designated Individual”) in accordance with the applicable regulations or analogous provisions of state or local Law. Each
        Member hereby expressly consents to such designations and agrees to take, and that the Managing Member is authorized to take (or cause the Company to take), such other actions as may be necessary or advisable pursuant to Treasury Regulations or
        other Internal Revenue Service or Treasury guidance or state or local Law to cause such designations or evidence such Member’s consent to such designations.

     

    (b)         Subject to
        this Section 5.08, the Partnership Representative shall have the sole authority to act on behalf of the Company in connection with, make all relevant decisions regarding application of, and to exercise the rights and powers provided for in the
        Revised Partnership Audit Provisions, including making any elections under the Revised Partnership Audit Provisions or any decisions to settle, compromise, challenge, litigate or otherwise alter the defense of any action, audit or examination
        before the IRS or any other tax authority (each, an “Audit”), and to expend Company funds for professional services and other expenses reasonably incurred in connection therewith.

     

    
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    (c)         Without limiting the foregoing, the Partnership Representative shall give prompt written notice to the Continuing Member Representative of the commencement of any Audit of the Company or any of its Subsidiaries the resolution of
        which would reasonably be expected to have a disproportionate (compared to the Managing Member) and material adverse effect on the Continuing Members (a “Specified Audit”). The Partnership
        Representative shall (i) keep the Continuing Member Representative reasonably informed of the material developments and status of any such Specified Audit, (ii) permit the Continuing Member Representative (or its designee) to participate (including
        using separate counsel), in each case at the Continuing Members’ sole cost and expense, in any such Specified Audit, and (iii) promptly notify the Continuing Member Representative of receipt of a notice of a final partnership adjustment (or
        equivalent under applicable Laws) or a final decision of a court or IRS Independent Office of Appeals panel (or equivalent body under applicable Laws) with respect to such Specified Audit. The Partnership Representative or the Company shall
        promptly provide the Continuing Member Representative with copies of all material correspondence between the Partnership Representative or the Company (as applicable) and any governmental entity in connection with such Specified Audit and shall
        give the Continuing Member Representative a reasonable opportunity to review and comment on any material correspondence, submission (including settlement or compromise offers) or filing in connection with any such Specified Audit. Additionally, the
        Partnership Representative shall not (and the Company shall not (and shall not authorize the Partnership Representative to)) settle, compromise or abandon any Specified Audit in a manner that would reasonably be expected to have a disproportionate
        (compared to the Managing Member) and material adverse effect on the Continuing Members without the Requisite Members’ prior written consent (which consent shall not be unreasonably withheld, delayed or conditioned). The Partnership Representative
        shall obtain the prior written consent of the Requisite Members (which consent shall not be unreasonably withheld, delayed or conditioned) before (i) making an election under Section 6226(a) of the Code (or any analogous provision of state or local
        Law) or (ii) taking any material action under the Revised Partnership Audit Provisions that would reasonably be expected to have a disproportionate (compared to the Managing Member) and material adverse effect on the Continuing Members, in the case
        of clauses (i) and (ii); provided that no consent from the Requisite Members is required in order to make an election under Section 6226(a) of the Code with respect to taxable periods that began on or before the Effective Time.

     

    (d)      All expenses incurred by the Partnership Representative or Designated Individual in connection with its duties as partnership representative or designated individual, as applicable, shall be
        expenses of the Company (including, for the avoidance of doubt, any costs and expenses incurred in connection with any claims asserted against the Partnership Representative or Designated Individual, as applicable, except to the extent the
        Partnership Representative or Designated Individual is determined to have performed its duties in the manner described in the final sentence of this Section 5.08(d)), and the Company shall reimburse and indemnify the Partnership Representative or
        Designated Individual, as applicable, for all such expenses and costs. Nothing herein shall be construed to restrict the Partnership Representative or Designated Individual from engaging lawyers, accountants, tax advisers, or other professional
        advisers or experts to assist the Partnership Representative or Designated Individual in discharging its duties hereunder. Neither the Partnership Representative nor Designated Individual shall be liable to the Company, any Member or any Affiliate
        thereof for any costs or losses to any Persons, any diminution in value or any liability whatsoever arising as a result of the performance of its duties pursuant to this Section 5.08 absent (i) willful breach of any provision of this Section 5.08
        or (ii) bad faith, fraud, gross negligence or willful misconduct on the part of the Partnership Representative or Designated Individual, as applicable.

     

    (e)         The Company, the Partnership
        Representative, and the Members expressly agree to be bound by the terms of Section 10.03 of the Merger Agreement. Notwithstanding anything to the contrary contained in this Agreement, in the event of any conflict between Section 10.03 of the
        Merger Agreement and this Agreement, Section 10.03 of the Merger Agreement shall control.

     

    
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    5.09     Other Allocation Provisions. Certain of the foregoing provisions and the other provisions of this Agreement relating to the maintenance of Capital Accounts are intended to comply with
        Treasury Regulations Section 1.704-1(b) and shall be interpreted and applied in a manner consistent with such regulations. In addition to amendments effected in accordance with Section 12.12 or otherwise in accordance with this Agreement, Sections
        5.03, 5.04 and 5.05 may also, so long as any such amendment does not materially change the relative economic interests of the Members, be amended at any time by the Managing Member if necessary, in the opinion of tax counsel to the Company, to
        comply with such regulations or any applicable Law.

     

    5.10       Survival. Sections 5.07 and 5.08 shall be interpreted to apply to Members and former Members and shall
      survive the Transfer of a Member’s Units and the termination, dissolution, liquidation and winding up of the Company and, for this purpose to the extent not prohibited by applicable Law, the Company shall be treated as continuing in existence.

     

    ARTICLE VI

    

    

    BOOKS AND RECORDS; REPORTS

     

    6.01       Books and Records.

     

    (a)        At all times during the continuance of
        the Company, the Company shall prepare and maintain separate books of account for the Company in accordance with GAAP.

     

    (b)        Except as limited by Section 6.01(c),
        each Member shall have the right to receive, for a purpose reasonably related to such Member’s interest as a Member in the Company, upon reasonable written demand stating the purpose of such demand and at such Member’s own expense, a copy of the
        Certificate and this Agreement and all amendments thereto, together with a copy of the executed copies of all powers of attorney pursuant to which the Certificate and this Agreement and all amendments thereto have been executed.

     

    (c)        The
        Managing Member may keep confidential from the Members, for such period of time as the Managing Member determines in its sole discretion, (i) any information that the Managing Member reasonably believes to be in the nature of trade secrets or (ii)
        other information the disclosure of which the Managing Member believes is not in the best interests of the Company, could damage the Company or its business or that the Company is required by Law or by agreement with any third party to keep
        confidential, including information as to the Units held by any other Member. With respect to any schedules, annexes or exhibits to this Agreement, each Member (other than the Managing Member) shall only be entitled to receive and review any such
        schedules, annexes and exhibits relating to such Member and shall not be entitled to receive or review any schedules, annexes or exhibits relating to any other Member (other than the Managing Member).

     

    (d)       The Managing Member shall cause to be
        prepared and filed all necessary federal and state income tax returns for the Company, including making any tax elections. At the Company’s expense, the Managing Member, within 120 days of the close of the Fiscal Year, shall use commercially
        reasonable efforts to furnish to each Member that was a Member during such Fiscal Year a Schedule K-1 and such other tax information reasonably required for U.S. federal, state and local income tax reporting purposes. The Company shall use
        commercially reasonable efforts to provide to each Person that was a Member during the Fiscal Year (a) by May 15th, August 15th and November 15th of such Fiscal Year, with an estimate of the taxable income, gains, deductions, losses and other items
        for, respectively, the first, second and third fiscal quarters that such Person will be required to include in its taxable income and (b) by March 1st of such Fiscal Year, with an estimate of the taxable income, gains, deductions, losses and other
        items of such Person to be reflected on the Schedule K-1 of such Person for the prior Fiscal Year (it being understood such estimated information is subject to change based on the final Form K-1 made available by the Company). The Company also
        shall provide the Members with such other information as may be reasonably requested for purposes of allowing the Members to prepare and file their own tax returns, provided that any costs or expenses with
        respect to the foregoing shall be borne by the requesting Member.

     

    
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    (e)        The Managing Member shall make the
        following elections on the appropriate tax returns and shall not rescind them without the prior written consent of the Requisite Members (provided that the election described in clause (ii) below cannot be
        rescinded without the prior written consent of the all the Members):

     

    (i)         to adopt an appropriate federal income
        tax method of accounting and to keep the Company’s books and records on such income-tax method;

     

    (ii)        to have in effect (and to cause each
        direct or indirect Subsidiary that is treated as a partnership for U.S. federal income tax purposes and over 50% owned and controlled by the Company to have in effect, to the extent eligible to do so) an election, pursuant to Section 754 of the
        Code (and any similar election for state or local tax purposes), to adjust the tax basis of Company properties, for the taxable year of the Company that includes the Effective Date and each subsequent taxable year in which an Exchange Transaction
        occurs; and

     

    (iii)      any other available election that the
        Managing Member deems appropriate; provided that, for so long as the Continuing Members collectively own at least 10% of the Units, the Managing Member shall consult in good faith with the Continuing Member Representative with respect to any
        material tax election with respect to the Company that could reasonably be expected to have a disproportionate (as compared to the Managing Member) and adverse effect on the Continuing Members, and not make such election without the Requisite
        Members’ prior written consent (which consent shall not be unreasonably withheld, delayed or conditioned).

     

    No Member may make an election for the Company to be excluded from the application of the provisions of subchapter K of chapter 1 of subtitle A of the Code or any similar
      provisions of applicable state Law, and no provision of this Agreement shall be construed to sanction or approve such an election.

     

    6.02       Confidentiality.

     

    (a)         Each of the Members (other than PubCo)
        agrees to hold the Company’s Confidential Information in confidence and may not disclose or use such information except as otherwise authorized separately in writing by the Managing Member. “Confidential

          Information” as used herein includes all non-public information concerning the Company or its Subsidiaries including, but not limited to, ideas, financial product structuring, business strategies, innovations and materials, all aspects of
        the Company’s business plan, proposed operation and products, corporate structure, financial and organizational information, analyses, proposed partners, software code and system and product designs, employees and their identities, equity
        ownership, the methods and means by which the Company plans to conduct its business, all trade secrets, trademarks, tradenames and all intellectual property associated with the Company’s business. With respect to each Member, Confidential
        Information does not include information or material that: (i) is rightfully in the possession of such Member at the time of disclosure by the Company; (ii) before or after it has been disclosed to such Member by the Company, becomes part of public
        knowledge, not as a result of any action or inaction of such Member in violation of this Agreement; (iii) is approved for release by written authorization of the Chief Executive Officer, Chief Financial Officer or General Counsel of the Company or
        of PubCo, or any other officer designated by the Managing Member; (iv) is disclosed to such Member or their representatives by a third party not, to the knowledge of such Member, in violation of any obligation of confidentiality owed to the Company
        with respect to such information; or (v) is or becomes independently developed by such Member or their respective representatives without use of or reference to the Confidential Information.

     

    
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    (b)        Solely to the extent it is reasonably
        necessary or appropriate to fulfill its obligations or to exercise its rights under this Agreement, each of the Members may disclose Confidential Information to its Subsidiaries, Affiliates, partners, directors, officers, employees, counsel,
        advisers, consultants, outside contractors and other agents, on the condition that such Persons keep the Confidential Information confidential to the same extent as such Member is required to keep the Confidential Information confidential;
        provided, that such Member shall remain liable with respect to any breach of this Section 6.02 by any such Subsidiaries, Affiliates, partners, directors, officers, employees, counsel, advisers, consultants, outside contractors and other agents (as
        if such Persons were party to this Agreement for purposes of this Section 6.02).

     

    (c)        Notwithstanding anything herein to the
        contrary, each of the Members may disclose Confidential Information (i) to the extent that such Member is required by Law (by oral questions, interrogatories, request for information or documents, subpoena, civil investigative demand or similar
        process) to disclose any of the Confidential Information, (ii) for purposes of reporting to its stockholders and direct and indirect equity holders (each of whom are bound by customary confidentiality obligations) the performance of the Company and
        its Subsidiaries and for purposes of including applicable information in its financial statements to the extent required by applicable Law or applicable accounting standards; or (iii) to any bona fide prospective purchaser of the equity or assets
        of a Member, or the Common Units held by such Member (provided, in each case, that such Member determines in good faith that such prospective purchaser would be a Permitted Transferee), or a prospective merger partner of such Member (provided, that
        (i) such Persons will be informed by such Member of the confidential nature of such information and shall agree in writing to keep such information confidential in accordance with the contents of this Agreement and (ii) each Member will be liable
        for any breaches of this Section 6.02 by any such Persons (as if such Persons were party to this Agreement for purposes of this Section 6.02)).

     

    (d)        Notwithstanding any of the foregoing,
        nothing in this Section 6.02 will restrict in any manner the ability of PubCo to comply with its disclosure obligations under Law, and the extent to which any Confidential Information is necessary or desirable to disclose.

     

    ARTICLE VII

    

    

    COMPANY UNITS

     

    7.01       Units.

     

    (a)         Limited liability company interests in
        the Company shall be represented by Units. At the execution of this Agreement, the Units are comprised of only Common Units, which includes the Earnout Company Units, and Restricted Common Units, comprised of Series 1 RCUs, Series 2 RCUs, Series 3
        RCUs and Series 4 RCUs.

     

    (i)        In connection with the transactions
        contemplated by the Merger Agreement, each Member (including PubCo) shall be issued Series 1 RCUs, Series 2 RCUs, Series 3 RCUs and Series 4 RCUs, each of which are issued and outstanding as of the Effective Time. The Members agree that immediately
        following the Effective Time, no fractional Restricted Common Unit will remain outstanding and any fractional Restricted Common Unit held by a Member shall be rounded up to the nearest whole number.

     

    
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    (ii)        Immediately after giving effect to the
        transactions contemplated by the Merger Agreement, each Member holds the number of Common Units and the number of Series 1 RCUs, Series 2 RCUs, Series 3 RCUs and Series 4 RCUs, in each case of the foregoing series of Units, set forth opposite such
        Member’s name on Exhibit A attached hereto.

     

    (b)       Subject to Section 7.04, the Managing
        Member in its sole discretion may establish and issue, from time to time in accordance with such procedures as the Managing Member shall determine from time to time, additional Units, in one or more classes or series of Units, or other Company
        securities, at such price, and with such designations, preferences and relative, participating, optional or other special rights, powers and duties (which may be senior to existing Units, classes and series of Units or other Company securities), as
        shall be determined by the Managing Member without the approval of any Member or any other Person who may acquire an interest in any of the Units, including (i) the right of such Units to share in Profits and Losses or items thereof; (ii) the right
        of such Units to share in Company Distributions; (iii) the rights of such Units upon dissolution and winding up of the Company; (iv) whether, and the terms and conditions upon which, the Company may or shall be required to redeem such Units
        (including sinking fund provisions); (v) whether such Units are issued with the privilege of conversion or exchange and, if so, the terms and conditions of such conversion or exchange; (vi) the terms and conditions upon which such Units will be
        issued, evidenced by certificates and assigned or transferred; (vii) the method for determining the Common Percentage Interest as to such Units; (viii) the terms and conditions of the issuance of such Units (including the amount and form of
        consideration, if any, to be received by the Company in respect thereof, the Managing Member being expressly authorized, in its sole discretion, to cause the Company to issue such Units for less than Fair Market Value); and (ix) the right, if any,
        of the holder of such Units to vote on Company matters, including matters relating to the relative designations, preferences, rights, powers and duties of such Units. Notwithstanding any other provision of this Agreement, the Managing Member in its
        sole discretion, without the approval of any Member or any other Person, is authorized (i) to issue Units or other Company securities of any newly established class or any existing class to Members or other Persons who may acquire an interest in
        the Company; (ii) to amend this Agreement to reflect the creation of any such new class, the issuance of Units or other Company securities of such class, and the admission of any Person as a Member which has received Units or other Company
        securities; and (iii) to effect the combination, subdivision and/or reclassification of outstanding Units as may be necessary or appropriate to give economic effect to equity investments in the Company by the Managing Member that are not
        accompanied by the issuance by the Company to the Managing Member of additional Units and to update the books and records of the Company accordingly. Except as expressly provided in this Agreement to the contrary, any reference to “Units” shall
        include the Common Units and Units of any other class or series that may be established in accordance with this Agreement. All Units of a particular class shall have identical rights in all respects as all other Units of such class, except in each
        case as otherwise specified in this Agreement.

     

    (c)        Notwithstanding anything to the contrary
        in this Agreement, the Managing Member shall not cause or permit the Company to issue, or authorize the issuance of, any Units unless the Managing Member has a sufficient number of Class A Common Shares authorized, available and reserved for
        issuance upon an exchange of such newly issued Units for Class A Common Shares pursuant to an Exchange Transaction.

     

    (d)        If the Company has one hundred (100) or
        fewer “partners” immediately prior to an issuance of Units, notwithstanding anything to the contrary in this Agreement, the Company shall not, and the Managing Member shall not cause the Company to, issue any Units if such issuance would result in
        the Company having more than 100 partners, within the meaning of Treasury Regulations Section 1.7704-1(h) (determined taking into account the rules of Treasury Regulations Section 1.7704-1(h)(3)); provided that, for such purposes, the Company and
        the Managing Member shall be entitled to assume that each person who is a Member immediately before the Effective Time is treated as a single partner within the meaning of Treasury Regulations Section 1.7704-1(h) (determined taking into account the
        rules of Treasury Regulations Section 1.7704-1(h)(3)), unless otherwise required by applicable Law.

     

    
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    7.02     Register. The books and records of the Company shall be the definitive record of ownership of each Unit and all relevant information with respect to each Member. Unless the Managing
        Member in its sole discretion shall determine otherwise, Units shall be uncertificated and recorded in the books and records of the Company.

     

    7.03      Registered Members. The Company shall be entitled to recognize the exclusive right of a Person registered on its records as the owner of Units for all purposes and shall not be bound to
        recognize any equitable or other claim to or interest in Units on the part of any other Person, whether or not it shall have express or other notice thereof, except as otherwise provided by the Act or other applicable Law.

     

    7.04       Issuances, Repurchases and Redemptions, Recapitalizations.

     

    (a)          Issuances

          by PubCo.

     

    (i)         Subject to Section 7.04(a)(ii) and the
        Exchange Agreement, if, at any time after the Closing Date, PubCo sells or issues Class A Common Shares or any other Equity Interests of PubCo (other than Class B Common Shares), (x) the Company shall concurrently issue to PubCo an equal number of
        Common Units (if PubCo issues Class A Common Shares), or an equal number of such other Equity Interests of the Company corresponding to the Equity Interests issued by PubCo (if PubCo issues Equity Interests other than Class A Common Shares), and
        with substantially the same rights to dividends and Distributions (including Distributions upon liquidation) and other economic rights as those of such Equity Interests of PubCo so issued and (y) PubCo shall concurrently contribute to the Company,
        the net proceeds or other property received by PubCo, if any, for such Class A Common Share or other Equity Interest.

     

    (ii)       Notwithstanding anything to the contrary
        contained in Section 7.04(a)(i) or Section 7.04(a)(iii), this Section 7.04(a) shall not apply to (x) the issuance and distribution to holders of Class A Common Shares or other Equity Interests of PubCo of rights to purchase
        Equity Interests of PubCo under a “poison pill” or similar shareholder rights plan (and upon exchange of Common Units for Class A Common Shares, such Class A Common Shares will be issued together with a corresponding right under such plan) or (y)
        the issuance under PubCo’s employee benefit plans of any warrants, options, stock appreciation right, restricted stock, restricted stock units, performance based award or other rights to acquire Equity Interests of PubCo, but shall in each of the
        foregoing cases apply to the issuance of Equity Interests of PubCo in connection with the exercise or settlement of such warrants, options, stock appreciation right, restricted stock units, performance based awards or the vesting of restricted
        stock (including as set forth in clause (iii) below, as applicable).

     

    (iii)      In the event any outstanding Equity
        Interest of PubCo is exercised or otherwise converted and, as a result, any Class A Common Shares or other Equity Interests of PubCo are issued (including as a result of the exercise of warrants of PubCo), (x) the corresponding Equity Interest
        outstanding at the Company, if any, shall be similarly exercised or otherwise converted, if applicable, (y) an equivalent number of Common Units or equivalent Equity Interests of the Company shall be issued to PubCo as required by the first
        sentence of Section 7.04(a)(i), and (z) PubCo shall concurrently contribute to the Company the net proceeds received by PubCo from any such exercise or conversion.

     

    (iv)       If at any time PubCo or any of its
        Subsidiaries (other than the Company and its Subsidiaries) issues any securities in respect of indebtedness for borrowed money (“Debt Securities”), PubCo or such Subsidiary shall Transfer
        to the Company the net proceeds received by PubCo or such Subsidiary, as applicable, in exchange for such Debt Securities in a manner that directly or indirectly burdens the Company with the repayment of the Debt Securities.

     

    
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    (v)        For the avoidance of doubt, in the event
        any Class A Common Shares are issued pursuant to the conversion of Surviving Pubco Class A RSRs (as defined in the Merger Agreement), a corresponding number of Restricted Common Units held by PubCo shall automatically and without further action on
        the part of any Person convert to an equal number of Common Units pursuant to this Agreement.

     

    (b)       New Company
          Equity Interests. Except pursuant to the Exchange Agreement, (x) the Company may not issue any additional Common Units to PubCo or any of its Subsidiaries (other than the Company and its Subsidiaries) unless substantially simultaneously
        therewith PubCo or such Subsidiary issues or Transfers an equal number of newly-issued Class A Common Shares (or relevant Equity Interest of such Subsidiary) to another Person or Persons and contributes the net proceeds therefrom to the Company,
        and (y) the Company may not issue any other Equity Interests of the Company to PubCo or any of its Subsidiaries (other than the Company and its Subsidiaries) unless substantially simultaneously therewith PubCo or such Subsidiary issues or
        Transfers, to another Person, an equal number of newly-issued shares of Equity Interests of PubCo or such Subsidiary with substantially the same rights to dividends and Distributions (including Distributions upon liquidation) and other economic
        rights as those of such Equity Interests of the Company and contributes the net proceeds therefrom to the Company.

     

    (c)          Repurchases

          and Redemptions.

     

    (i)          Neither PubCo nor any of its
        Subsidiaries (other than the Company and its Subsidiaries) may redeem, repurchase or otherwise acquire (A) Class A Common Shares pursuant to a Board approved repurchase plan or program (or otherwise in connection with a transaction approved by the
        Board) unless substantially simultaneously therewith the Company redeems, repurchases or otherwise acquires from PubCo or such Subsidiary an equal number of Common Units for the same price per security, if any, or (B) any other Equity Interests of
        PubCo or any of its Subsidiaries (other than the Company and its Subsidiaries) pursuant to a Board approved repurchase plan or program (or otherwise in connection with a transaction approved by the Board) unless substantially simultaneously
        therewith the Company redeems, repurchases or otherwise acquires from PubCo or such Subsidiary an equal number of the corresponding class or series of Equity Interests of the Company with the same rights to dividends and Distributions (including
        Distributions upon liquidation) and other economic rights as those of such Equity Interests of PubCo or such Subsidiary for the same price per security, if any.

     

    (ii)        Subject to Section 7.05, the
        Company may not redeem, repurchase or otherwise acquire (x) any Common Units from PubCo or any of its Subsidiaries (other than the Company and its Subsidiaries) unless substantially simultaneously PubCo or such Subsidiary redeems, repurchases or
        otherwise acquires pursuant to a Board approved repurchase plan or program (or otherwise in connection with a transaction approved by the Board) an equal number of Class A Common Shares for the same price per security from holders thereof or (y)
        any other Equity Interests of the Company from PubCo or any of its Subsidiaries (other than the Company and its Subsidiaries) unless substantially simultaneously PubCo or such Subsidiary redeems, repurchases or otherwise acquires pursuant to a
        Board approved repurchase plan or program (or otherwise in connection with a transaction approved by the Board) for the same price per security an equal number of Equity Interests of PubCo (or such Subsidiary) of a corresponding class or series
        with substantially the same rights to dividends and Distributions (including Distributions upon liquidation) and other economic rights as those of such Equity Interests of PubCo or such Subsidiary.

     

    
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    (iii)       Notwithstanding the foregoing clauses
        (a) and (b) of this Section 7.04, to the extent that any consideration payable by PubCo in connection with the redemption, repurchase or acquisition of Class A Common Shares or other equity securities of PubCo or any of its Subsidiaries (other than
        the Company and its Subsidiaries) consists (in whole or in part) of Class A Common Shares or such other Equity Interests (including in connection with the cashless exercise of an option or warrant (or other convertible right or security)) other
        than under PubCo’s employee benefit plans for which there are no corresponding Common Units or other Equity Interests of the Company, the redemption, repurchase or acquisition of the corresponding Common Units or other Equity Interests of the
        Company shall be effectuated in a substantially similar manner.

     

    (d)         Equity
          Subdivisions and Combinations.

     

    (i)      The Company shall not in any manner effect
        any subdivision (by any equity split, equity distribution, reclassification, recapitalization or otherwise) or combination (by reverse equity split, reclassification, recapitalization or otherwise) of the outstanding Equity Interests of the Company
        unless accompanied by an identical subdivision or combination, as applicable, of the outstanding related class or series of Equity Interest of PubCo, with corresponding changes made with respect to any other exchangeable or convertible Equity
        Interests of the Company and PubCo.

     

    (ii)        PubCo shall not in any manner effect
        any subdivision (by any equity split, equity distribution, reclassification, recapitalization or otherwise) or combination (by reverse equity split, reclassification, recapitalization or otherwise) of any class or series of Equity Interest of
        PubCo, unless accompanied by an identical subdivision or combination, as applicable, of the outstanding related class or series of Equity Interest of the Company, with corresponding changes made with respect to any applicable exchangeable or
        convertible Equity Interests of the Company and PubCo.

     

    (e)          General Authority. For the avoidance
        of doubt, but subject to Section 7.01, Section 7.02, Section 7.04 and Section 7.05, the Company and the Managing Member shall be permitted to undertake all actions, including an issuance, redemption,
        reclassification, distribution, division or recapitalization, with respect to the Common Units or the Restricted Common Units as the Managing Member determines is necessary to maintain at all times a one-to-one ratio between (i) the number of
        Common Units owned by the Managing Member, directly or indirectly, and the number of outstanding Class A Common Shares, (ii) the number of Restricted Common Units owned by the Managing Member, and the number of outstanding Surviving Pubco Class A
        RSRs issued by the Managing Member; (iii) the number of Earnout Company Units held by the Managing Member and the number of Deferred Founder Shares (as defined in the Sponsor Letter Agreement); and (iv) the number of outstanding Class B Common
        Shares held, directly or indirectly, by any Member and the number of Common Units held, directly or indirectly, by such Member disregarding, for purposes of maintaining the one-to-one ratios in clause (i) and clause (ii), (A) options, rights or
        securities of PubCo issued under any plan involving the issuance of any Equity Interests that are convertible into or exercisable or exchangeable for Class A Common Shares, (B) treasury stock, or (C) preferred stock or other debt or equity
        securities (including warrants, options or rights) issued by PubCo that are convertible or into or exercisable or exchangeable for Class A Common Shares (but in each case prior to such conversion, exercise or exchange).

     

    7.05       Restricted Common Units.

     

    (a)        Each Restricted Common Unit will be held
        in accordance with this Agreement unless and until a Vesting Event occurs with respect to such Restricted Common Unit. Upon the occurrence of a Vesting Event, on the Conversion Date, each applicable Restricted Common Unit with respect to which a
        Vesting Event has occurred shall be converted immediately and automatically, without any further action on the part of the holder thereof or any other person (including the Company and the Managing Member) into a Common Unit, with all rights and
        privileges of a Common Unit under this Agreement from and after the Conversion Date as contemplated by Schedule A of the Merger Agreement. Notwithstanding anything to the contrary contained in this Agreement or the Exchange Agreement, no Member
        shall be permitted to effect an Exchange Transaction with respect to any Restricted Common Units, and in no event shall the Company or PubCo effect an Exchange Transaction with respect to any Restricted Common Unit unless and until a Vesting Event
        and Conversion Date has occurred with respect to such Restricted Common Unit and it has been converted to a Common Unit in accordance with the terms hereof.  For the avoidance of doubt and without limiting the immediately foregoing sentence, in the
        event that a Vesting Event, Conversion Date and conversion into Common Unit has occurred in respect of a Restricted Common Unit, the Company and PubCo may effect an Exchange of such then converted Common Unit in accordance with this Agreement and
        the Exchange Agreement.

     

    
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    (b)        Notwithstanding anything to the contrary
        contained in this Agreement, if, upon the occurrence of a Vesting Event, a filing is required under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, and the rules and regulations promulgated thereunder (“HSR Act”), for the immediate conversion of any Restricted Common Unit into a Common Unit, then the Conversion Date with respect to each such Restricted Common Unit shall be delayed until the earlier of (i) such time as
        the required filing under the HSR Act has been made and the waiting period applicable to such conversion under the HSR Act shall have expired or been terminated or (ii) such filing is no longer required, at which time such conversion shall
        automatically occur without any further action by the holders of any such Restricted Common Unit. Each of the Members and PubCo agree to promptly take all actions required to make such filing under the HSR Act and the filing fee for such filing
        shall be paid by the Company.

     

    (c)         On the Conversion Date, PubCo shall
        issue to each Continuing Member that holds a Surviving Pubco Class B RSR, one Class B Common Share.  PubCo hereby agrees to reserve for issuance at all times an adequate number of Class B Common Shares to permit the issuance of all Class B Common
        Shares assuming all of the Members’ Pubco Class B RSRs vest under the terms of the Merger Agreement.

     

    (d)         To the extent that, by the Earnout
        Expiration Date (as defined in the Merger Agreement), subject to extension as described in the Merger Agreement, a Vesting Event has not occurred with respect to a Restricted Common Unit, and a Restricted Common Unit has not vested and converted
        into a Common Unit, then immediately and without any further action under this Agreement, on such date, any such Restricted Common Units outstanding under this Agreement shall be canceled and extinguished for no consideration, unless a definitive
        agreement providing for an Earnout Strategic Transaction (as defined in the Merger Agreement) has been entered into prior to the Earnout Expiration Date, in which case, such cancellation shall not occur prior to the first to occur of the
        termination of such definitive agreement and the consummation of such Earnout Strategic Transaction.

     

    (e)         The parties hereto intend that, for U.S.
        federal income tax purposes, (i) the Restricted Common Units received by the Continuing Members and by PubCo in connection with the Merger Agreement not be treated as being received in connection with the performance of services and (ii) no such
        Member be treated as having taxable income or gain as a result of such receipt of such Restricted Common Units or as a result of holding any such Restricted Common Units at the time of any Vesting Event (other than as a result of corrective
        allocations made pursuant to Section 5.05(i)) and the Company shall prepare and file all tax returns consistent therewith unless otherwise required by a “determination” within the meaning of Section 1313 of the Code.

     

    7.06       Forfeiture of Earnout Company Units. The Earnout Company Units shall be subject to automatic forfeiture and transfer to the Company by PubCo in accordance with the Sponsor Letter.

     

    ARTICLE VIII

     

    TRANSFER RESTRICTIONS

     

    
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    8.01       Member Transfers.

     

    (a)         Except as otherwise agreed to in writing
        between the Managing Member and the applicable Member and reflected in the books and records of the Company or as otherwise provided in this Article VIII, no Member or Assignee thereof may Transfer all or any portion of its Units or other interest
        in the Company (or beneficial interest therein) without the prior consent of the Managing Member, which consent may be given or withheld, or made subject to such conditions (including the receipt of such legal opinions and other documents that the
        Managing Member may require) as are determined by the Managing Member, in each case in the Managing Member’s sole discretion, and which consent may be in the form of a plan or program entered into or approved by the Managing Member, in its sole
        discretion. Any such determination in the Managing Member’s sole discretion in respect of Units shall be final and binding. Such determinations need not be uniform and may be made selectively among Members, whether or not such Members are similarly
        situated, and shall not constitute the breach of any duty hereunder or otherwise existing at law, in equity or otherwise. Any purported Transfer of Units that is not in accordance with, or subsequently violates, this Agreement shall be, to the
        fullest extent permitted by law, null and void. If a Member Transfers all or a portion of its Common Units to a Transferee in compliance with this Agreement, the Member shall surrender a number of Class B Common Shares to the Managing Member equal
        to the number of transferred Common Units, such Class B Common Shares will be immediately cancelled, and the Managing Member shall issue the same number of Class B Common Shares to such Transferee upon its admittance to the Company as a Member.

     

    (b)         Except as otherwise agreed to in writing
        between the Managing Member and the applicable Member and reflected in the books and records of the Company, each Member hereby agrees and covenants that such Member will not, during the Lock-Up Period, Transfer any limited liability company
        interests of the Company or any equity interests of Pubco (including any Class A Common Shares) received or retained as consideration under the Merger Agreement, including any securities held in escrow or otherwise issued or delivered after the
        Closing pursuant to the Merger Agreement (collectively, the “Restricted Securities”) (a “Prohibited Transfer”). If any
        Prohibited Transfer is made or attempted contrary to the provisions of this Agreement, such purported Prohibited Transfer shall be null and void ab initio, and Pubco and the Company shall refuse to
        recognize any such purported transferee of the Restricted Securities as one of its equity holders for any purpose.  In order to enforce this Section 8.01(b), Pubco and the Company may impose stop-transfer instructions with respect to the Restricted
        Securities of each Member until the end of the Lock-Up Period, as well as include customary legends on any certificates for any of the Restricted Securities reflecting the restrictions under this Section 8.01.

     

    (c)         Notwithstanding anything otherwise to
        the contrary in this Agreement, following the conclusion of the Lock-Up Period, each Member that is a Member holding at least 2% of the Common Percentage Interest
        (excluding, for purposes of this calculation, Common Units then owned by the Managing Member or any Subsidiary of the Managing Member) may Transfer all or any portion of its Common Units in a Transfer that complies with Section 8.04, without the
        consent of the Managing Member or any other Person, so long as, to the extent the Company otherwise satisfies the requirements of Treasury Regulation Section 1.7704-1(h) (determined taking into account the rules of Treasury Regulations Section
        1.7704-1(h)(3)) in such taxable year, such transfer does not increase the number of Members of the Company as determined in the sole discretion of the Managing Member.

     

    (d)         Notwithstanding anything otherwise to
        the contrary in this Agreement, following the conclusion of the Lock-Up Period, each Member may Transfer Units in Exchange Transactions pursuant to, and in accordance with, the Exchange Agreement; provided
        that in the case of any Member other than a Member holding at least 2% of the Common Percentage Interest (excluding, for purposes of this calculation, Common Units then owned by the Managing Member or any Subsidiary of the Managing Member), that
        such Exchange Transactions shall be effected in compliance with reasonable policies that the Managing Member may adopt or promulgate from time to time and advise the Members of in writing (including policies requiring the use of designated
        administrators or brokers) in its reasonable discretion; provided, further, that if such policies conflict with the terms of the Exchange Agreement, the provisions of the Exchange Agreement shall apply in
        lieu thereof to any Exchange Transaction to the extent of such conflict.

     

    
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    (e)          Notwithstanding anything otherwise to
        the contrary in this Section 8.01, subject to the limitations set forth herein and the Company Voting and Support Agreement, an individual Member may Transfer all or any portion of his, her or its Restricted Securities without consideration to (i)
        any member of his or her Family Group or (ii) any Affiliate of such Member (including any partner, shareholder or member controlling or under common control with such Member and Affiliated investment fund or vehicle of such Member), but excluding
        any Affiliate under this clause (ii) who operates or engages in a business which competes with the business of Managing Member or the Company, in each case, in a Transfer that complies with Section 8.04 and (iii) to a trust solely
        for the benefit of such Member and such Member’s Family Group (or a re-Transfer of such Restricted Securities by such trust back to such Member upon the revocation of any such trust) or pursuant to the applicable Laws of descent or distribution
        among such Member’s Family Group, in each case, provided that, to the extent the Company otherwise satisfies the requirements of Treasury Regulation Section 1.7704-1(h) (determined taking into account the rules of Treasury Regulations Section
        1.7704-1(h)(3)) for such taxable year, such Transfer does not increase the number of Members of the Company as determined in the sole discretion of the Managing Member (each of clauses (i)-(iii), an “Exempt Transfer”); provided that (x) the restrictions contained in this Article VIII shall apply to an Exempt Transfer and (y) the restrictions contained in this Agreement will continue to apply to the Restricted
        Securities after any Exempt Transfer and each Transferee of Restricted Securities shall agree in writing, prior to and as a condition precedent to the effectiveness of such Exempt Transfer, to be bound by the provisions of this Agreement, without
        modification or condition, subject only to the consummation of such Exempt Transfer. Upon the Exempt Transfer of Restricted Securities, the transferor will deliver written notice to the Company, which notice will disclose in reasonable detail the
        identity of such Transferee(s) and shall include original counterparts of this Agreement in a form acceptable to the Managing Member. Notwithstanding the foregoing, no party hereto shall avoid the provisions of this Agreement by making one or more
        Exempt Transfers to one or more Transferees and then disposing of all or any portion of such party’s interest in such Transferee if such disposition would result in such Transferee ceasing to be a Permitted Transferee. The Managing Member may
        implement other policies and procedures to permit the Transfer of Restricted Securities by the other Members for personal planning purposes and any such Transfer effected in compliance with such policies and procedures shall not require the prior
        consent of the Managing Member.

     

    (f)          Any Transfer or attempted Transfer of
        any Units in violation of any provision of this Agreement shall, to the fullest extent permitted by law, be null and void ab initio, and the Company will not record such Transfer on its books or treat any
        purported Transferee of such Units as the owner of such securities for any purpose.

     

    
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    8.02       Mandatory Exchanges and Approved Qualified Transaction.

     

    (a)         The Managing Member may in its sole
        discretion at any time and from time to time, without the consent of any Member or other Person, cause to be Transferred to PubCo in an Exchange Transaction any and all Units, except for Units held by any Member holding at least 2% of the Common
        Percentage Interest, excluding, for purposes of this calculation, Common Units then owned by PubCo or any Subsidiary of PubCo (a “Mandatory Exchange”); provided, that, if at any time after
        the conclusion of the Lock-Up Period, (i) (x) the Company is not managed by PubCo or (y) for any other reason the Company’s nationally recognized tax advisors are unable to render an opinion to the Company at least at a “more likely than not” level
        of comfort that Pubco constitutes a “general partner” within the meaning of Treasury Regulations Section 1.7704-1(k)(1), (ii) the Company has more than 100 partners, within the meaning of Treasury Regulations Section 1.7704-1(h) (determined taking
        into account the rules of Treasury Regulations Section 1.7704-1(h)(3)), and (iii) there are not binding agreements by and among Members and the Company and/or its assignees to sell Units in a manner that will not cause the Company to be classifed
        as a “publicly traded partnership” within the meaning of Section 7704 of the Code pursuant to one or more closings that will occur no later than seventy-five (75) days of the conclusion of the Lock-Up Period and that would cause the Company to have
        100 or fewer  partners, within the meaning of Treasury Regulations Section 1.7704-1(h) (determined taking into account the rules of Treasury Regulations Section 1.7704-1(h)(3)), upon the consummation of the transactions contemplated by such
        agreements (including, agreements to tender Units to the Company or one or more purchasers approved by the Company), then the Company shall promptly, and in any event within seventy-five (75) days of the conclusion of the Lock-Up Period, cause a
        Mandatory Exchange to be effected with respect to a number of Members holding less than 2% of the Common Percentage Interest, excluding, for purposes of this calculation, Common Units then owned by PubCo or any Subsidiary of PubCo, sufficient to
        cause the Company to have no more than 100 partners, within the meaning of Treasury Regulations Section 1.7704-1(h) (determined taking into account the rules of Treasury Regulations Section 1.7704-1(h)(3)), upon the consummation of such Mandatory
        Exchange. Any Mandatory Exchange need not be uniform and may be made by the Company and Pubco selectively among Members, whether or not such Members are similarly situated; provided, that in the event that a tender offer, share exchange offer,
        issuer bid, take-over bid, recapitalization or similar transaction with respect to any Class A Common Shares (a “Pubco Offer”) is proposed by PubCo or is proposed to PubCo or its
        stockholders and approved by the PubCo Board or is otherwise effected or to be effected with the consent or approval of the PubCo Board that would result in PubCo undergoing a Change of Control, then the Managing Member shall require, and each
        Member shall be deemed to effect, an Exchange Transaction with respect to any and all Units held by all Members conditioned upon, and subject to, the consummation of such Pubco Offer or Change of Control, in each case, to the extent that such
        Member has not effected an Exchange Transaction with respect to all of its Units prior to the consummation of such transaction.

     

    (b)        In the event that the Board and the
        holders of a majority of the voting power of all outstanding capital stock of PubCo approve a Qualified Transaction (the “Approved Qualified Transaction”), the Managing Member and each
        other Member (each, a “Required Member”) agree to Transfer all of such Required Member’s Units in connection with such Approved Qualified Transaction (the “Drag-Along Right”) for an amount of consideration per Unit and corresponding Class B Common Share equal (before taking into account any rights such Required Member may have under the Tax Receivable Agreement) to the
        amount of consideration to be received per Class A Common Share by the holders thereof (the “Drag Price”), and otherwise with respect to such Units on the same terms and conditions as
        apply to the Class A Common Shares in such Approved Qualified Transaction, with such modifications as are appropriate, as determined in good faith by the Managing Member, to reflect the fact that Units and corresponding Class B Common Shares rather
        than Class A Common Shares will be Transferred in the first instance by such Member.  Such Transfer shall be structured in the sole discretion of the Managing Member and, without limitation to any other structure, the Managing Member will use its
        reasonable best efforts expeditiously and in good faith to take all such actions and do all such things as are necessary or desirable to enable and permit the Members to participate in such Approved Qualified Transaction to the same extent or on an
        economically equivalent basis as the holders of Class A Common Shares without discrimination; provided that, without limiting the generality of this sentence, the Managing Member will use its reasonable best efforts expeditiously and in good faith
        to ensure that such Members may participate in each such Approved Qualified Transaction without being required to have their Common Units and Class B Common Shares redeemed (or, if so required, to ensure that any such redemption shall be effective
        only upon, and shall be conditional upon, the closing of such Approved Qualified Transaction, or, as applicable, to the extent necessary to exchange the number of Common Units being repurchased).

     

    
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    (c)         PubCo shall send written notice (the “Drag-Along Notice”) to the Company and the Required Members at least thirty (30) days prior to the closing of the Approved Qualified Transaction notifying them that such Required Members will
        be required to sell all (but not less than all) of their Units in such sale, and setting forth (i) a copy of the written proposal or agreement pursuant to which the Approved Qualified Transaction will be effected, (ii) the Drag Price, (iii) the
        terms and conditions of Transfer and payment and (iv) the date and location of and procedures for selling the Units. In the event that the information set forth in the Drag-Along Notice changes from that set forth in the initial Drag-Along Notice,
        a subsequent Drag-Along Notice shall be delivered by PubCo no less than seven (7) days prior to the closing of the Approved Qualified Transaction. Notwithstanding the foregoing, to the extent that any of the foregoing information to be included in
        the Drag-Along Notice is publicly available, PubCo shall not be required to include such information in the Drag-Along Notice or deliver a subsequent Drag-Along Notice. Each Required Member shall thereafter be obligated to sell their Units and
        corresponding Class B Common Shares on the terms set forth in the Drag-Along Notice.

     

    (d)        Upon receipt of a Drag-Along Notice, each
        Required Member receiving such notice shall be obligated to sell all of its Units and corresponding Class B Common Shares in the Approved Qualified Transaction as contemplated by the Drag-Along Notice for the Drag Price, on the terms and conditions
        described in this Section 8.02, including by executing any document containing customary representations, warranties and agreements with respect to itself and its ownership of the Units or Class A Common Shares, as applicable, as requested by the
        Managing Member in connection with the Approved Qualified Transaction, which representations, warranties, indemnities and agreements shall be substantially the same as those contained in any letter of transmittal to be executed by the holders of
        Class A Common Stock with such modifications as are appropriate, as determined in good faith by the Managing Member, to reflect the fact that Units rather than Class A Common Shares will be transferred by such Required Member. The Company and each
        Member shall cooperate in good faith in connection with the consummation of the Approved Qualified Transaction.

     

    (e)        The parties hereto hereby agree that the
        foregoing Sections 8.02(b) through 8.02(d) shall not apply in the event of the occurrence of a  PubCo Offer set forth in Section 8.02(a),

     

    8.03     Encumbrances. No Member or Assignee may create an Encumbrance with respect to all or any portion of its Units (or any beneficial interest therein) other than Encumbrances that run in
        favor of the Member unless the Managing Member consents in writing thereto, which consent may be given or withheld, or made subject to such conditions as are determined by the Managing Member, in the Managing Member’s sole discretion. Consent of
        the Managing Member shall be withheld until the holder of the Encumbrance acknowledges the terms and conditions of this Agreement. Any purported Encumbrance that is not in accordance with this Agreement shall be, to the fullest extent permitted by
        law, null and void.

     

    8.04       Further Restrictions.

     

    (a)          Units issued from time to time after the
        date of this Agreement, including Units issued under equity incentive plans of the Company or the Managing Member (or upon settlement of awards granted under such plans), may be subject to such additional or other terms and conditions, including
        with regard to vesting, forfeiture, minimum retained ownership and Transfer, as may be agreed between the Managing Member and the applicable Member and reflected in the books and records of the Company. Such requirements, provisions and
        restrictions need not be uniform and may be waived or released by the Managing Member in its sole discretion with respect to all or a portion of the Units owned by any one or more Members at any time and from time to time, and shall not constitute
        the breach of any duty hereunder or otherwise existing at law, in equity or otherwise.

     

    
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    (b)        Notwithstanding

        any contrary provision in this Agreement, in no event may any Transfer of a Unit (other than, in each case, in accordance with the Exchange Agreement) be made by any Member or Assignee if the Managing Member determines that:

     

    (i)          such Transfer is made to any Person who
        lacks the legal right, power or capacity to own such Unit;

     

    (ii)        except pursuant to an Exchange
        Transaction, such Transfer would require the registration of such transferred Unit or of any Class of Unit pursuant to any applicable U.S. federal or state securities Laws (including, without limitation, the Securities Act or the Exchange Act) or
        other non-U.S. securities Laws or would constitute a non-exempt distribution pursuant to applicable provincial or state securities Laws;

     

    (iii)      such Transfer would cause (i) all or any
        portion of the assets of the Company to (A) constitute “plan assets” (under ERISA, the Code or any applicable Similar Law) of any existing or contemplated Member, or (B) be subject to the provisions of ERISA, Section 4975 of the Code or any
        applicable Similar Law, or (ii) the Managing Member to become a fiduciary with respect to any existing or contemplated Member, pursuant to ERISA, any applicable Similar Law, or otherwise;

     

    (iv)       to the extent requested by the Managing
        Member, the Company does not receive such legal and/or tax opinions and written instruments (including copies of any instruments of Transfer and such Assignee’s consent to be bound by this Agreement as an Assignee) that are in a form satisfactory
        to the Managing Member, as determined in the Managing Member’s sole discretion; provided that no such legal and/or tax opinions shall be required for a Transfer by a Member holding at least 2% of the Common Percentage Interest (excluding, for purposes of this calculation, Common Units then owned by the Managing Member or any Subsidiary of the Managing Member);
        or

     

    (v)       the Managing Member shall reasonably
        determine that such Transfer would pose a material risk that the Company would be treated as a “publicly traded partnership” within the meaning of Section 7704 of the Code and the
        regulations promulgated thereunder.

     

    All determinations with respect to this Section 8.04 shall be made by the Managing Member in its sole discretion; provided, however, that all such determinations with
      respect to a Member holding at least 2% of the Common Percentage Interest (excluding, for purposes of this calculation, Common Units then owned by the Managing Member or any Subsidiary of the Managing Member) shall be made by the Managing Member
      exercising its reasonable discretion.

     

    (c)       In addition, notwithstanding any contrary
        provision in this Agreement, to the extent the Managing Member shall reasonably determine that interests in the Company do not meet the requirements of Treasury Regulation Section 1.7704-1(h) (determined taking into account the rules of Treasury
        Regulations Section 1.7704-1(h)(3) in a taxable year, provided that, for such purpose, the Company and the Managing Member shall assume that each Continuing Member is treated as a single partner within the meaning of Treasury Regulations Section
        1.7704-1(h) (determined taking into account the rules of Regulations Section 1.7704-1(h)(3)) unless otherwise required by applicable Law), in no event may any Transfer or assignment of Units by any Member be made if such Transfer would (i) be
        considered to be effected on or through an “established securities market” or a “secondary market or the substantial equivalent thereof” as such terms are used in Treasury Regulations Section 1.7704-1, (ii) materially increase the possibility of
        the Company becoming a “publicly traded partnership” within the meaning of Section 7704 of the Code, or (iii) cause the Company to be treated as a “publicly traded partnership” within the meaning of Section 7704 of the Code or successor provision
        of the Code or to be treated as an association taxable as a corporation pursuant to the Code.  For the avoidance of doubt, any Transfer that constitutes a “block transfer” within the meaning of Treasury Regulation Section 1.7704-1(e)(2) shall not
        be considered to be (i) effected on or through an “established securities market” or a “secondary market or the substantial equivalent thereof” as such terms are used in Treasury Regulations Section 1.7704-1, (ii) materially increase the
        possibility of the Company becoming a “publicly traded partnership” within the meaning of Section 7704 of the Code, or (iii) cause the Company to be treated as a “publicly traded partnership.”

     

    
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    (d)         Transfers of Units (other than pursuant
        to an Exchange Transaction) that are otherwise permitted by this Article VIII may only be made on the first day of a fiscal quarter of the Company, unless the Managing Member otherwise agrees.

     

    (e)         To the fullest extent permitted by law,
        any Transfer in violation of this Article VIII shall be deemed null and void ab initio and of no effect.

     

    8.05       Rights of Assignees. Subject to Section 8.04(b), the Transferee of any permitted Transfer pursuant to this Article VIII will be an assignee only (“Assignee”), and only will receive, to the extent transferred, the Distributions and allocations of income, gain, loss, deduction,
        credit or similar item to which the Member which transferred its Units would be entitled, and such Assignee will not be entitled or enabled to exercise any other rights or powers of a Member, such other rights, and all obligations relating to, or
        in connection with, such interest remaining with the transferring Member. The transferring Member will remain a Member even if it has transferred all of its Units to one or more Assignees until such time as the Assignee(s) is admitted to the
        Company as a Member pursuant to Section 8.07.

     

    8.06       Admissions, Resignations and Removals.

     

    (a)         No Person may be admitted to the Company
        as an additional Managing Member or substitute Managing Member without the prior written consent of each incumbent Managing Member, which consent may be given or withheld, or made subject to such conditions as are determined by each incumbent
        Managing Member, in each case in the sole discretion of each incumbent Managing Member. A Managing Member will not be entitled to resign as a Managing Member of the Company unless another Managing Member shall have been admitted hereunder (and not
        have previously been removed or resigned).

     

    (b)        No Member will be removed or entitled to
        resign from being a Member of the Company except in accordance with Section 8.08 hereof. Any additional Managing Member or substitute Managing Member admitted as a Managing Member of the Company pursuant to this Section 8.06 is hereby authorized
        to, and shall, continue the Company without dissolution.

     

    (c)         Except as otherwise provided in Article
        IX or the Act, no admission, substitution, resignation or removal of a Member will cause the dissolution of the Company. To the fullest extent permitted by law, any purported admission, resignation or removal that is not in accordance with this
        Agreement shall be null and void.

     

    8.07       Admission of Assignees as Substitute Members.

     

    (a)          An Assignee will become a substitute
        Member only if and when each of the following conditions is satisfied:

     

    (i)         the Managing Member consents in writing
        to such admission, which consent may be given or withheld, or made subject to such conditions as are determined by the Managing Member, in each case in the Managing Member’s sole discretion;

     

    (ii)        if required by the Managing Member, the
        Managing Member receives written instruments (including copies of any instruments of Transfer and such Assignee’s consent to be bound by this Agreement as a substitute Member) that are in a form satisfactory to the Managing Member (as determined in
        its sole discretion);

     

    
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    (iii)       if required by the Managing Member, the
        Managing Member receives an opinion of counsel satisfactory to the Managing Member to the effect that such Transfer is in compliance with this Agreement and all applicable Law; and

     

    (iv)       if required by the Managing Member, the
        parties to the Transfer, or any one of them, pays all of the Company’s reasonable expenses connected with such Transfer (including the reasonable legal and accounting fees of the Company).

     

    (b)         Notwithstanding anything herein to the
        contrary, to the fullest extent permitted by law, any Person who acquires in any manner whatsoever any Units, irrespective of whether such Person has accepted and adopted in writing the terms and conditions of this Agreement, shall be deemed by the
        acceptance of the benefits of the acquisition thereof to have agreed to be subject to and bound by all of the terms and conditions of this Agreement to which any predecessor in such Units was subject or by which such predecessor was bound.

     

    8.08       Resignation and Removal of Members. Subject to Section 8.05, if a Member (other than the Managing Member) ceases to hold any Units, then such Member shall
        cease to be a Member and to have the power to exercise any rights or powers of a member of the Company, and shall be deemed to have resigned from the Company.

     

    8.09        Withholding.  In the event any Transfer is permitted pursuant to this Article VIII, the transferring parties shall demonstrate to the satisfaction of the Managing Member either that no withholding is required in
        connection with such transfer under applicable U.S. federal, state, local or non-U.S. law (including under Section 1445 or 1446 of the Code) or that any amounts required to be withheld in connection with such transfer under applicable U.S. federal,
        state, local or non-U.S. law (including under Section 1446 of the Code, other than by reason of Section 1446(f)(4)) have been so withheld.

     

    8.10          Allocations in Respect of Transferred Units.  With regard to the Managing Member’s acquisition of the Acquired Surviving Company Units (as defined in the Merger
        Agreement), Profits or Losses shall be allocated to the Members of the Company so as to take into account the varying interests of the Members in the Company using an “interim closing of the books” method in a manner that complies with the
        provisions of Section 706 of the Code and the Treasury Regulations thereunder. If during any taxable year there is any other change in any Member’s Units in the Company, the Managing Member shall consult in good faith with the Continuing Member
        Representative and the tax advisors to the Company and allocate the Profits or Losses to the Members of the Company so as to take into account the varying interests of the Members in the Company using an “interim closing of the books” method in a
        manner that complies with the provisions of Section 706 of the Code and the Treasury Regulations thereunder; provided, however, that such allocations may instead be made in another manner that complies with the provisions of Section 706 of the Code
        and the Treasury Regulations thereunder and that is selected by the Managing Member (with the prior written consent of the Requisite Members, not to be unreasonably withheld, conditioned or delayed); provided that, the Requisite Members shall not
        have the consent right described in this Section 8.10 in the event that the Continuing Members collectively own less than 10% of the Units.

     

    ARTICLE IX

     

    DISSOLUTION, LIQUIDATION AND TERMINATION

     

    
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    9.01      No Dissolution. Except as required by the Act, the Company shall not be dissolved by the admission of additional Members or resignation of Members in accordance with the terms of this
        Agreement. The Company may be dissolved, liquidated, wound up and terminated only pursuant to the provisions of this Article IX, and the Members hereby irrevocably waive any and all other rights they may have to cause a dissolution of the Company
        or a sale or partition of any or all of the Company assets.

     

    9.02       Events Causing Dissolution. The Company shall be dissolved and its affairs shall be wound up upon the occurrence of any of the following events:

     

    (a)         the entry of a decree of judicial
        dissolution of the Company under Section 18-802 of the Act upon the finding by a court of competent jurisdiction that it is not reasonably practicable to carry on the business of the Company in conformity with this Agreement;

     

    (b)         any event which makes it unlawful for
        the business of the Company to be carried on by the Members;

     

    (c)          the written consent of all Members;

     

    (d)          at any time there are no Members, unless
        the Company is continued in accordance with the Act;

     

    (e)          the
        Incapacity, withdrawal or resignation of the Managing Member or the occurrence of a Disabling Event with respect to the Managing Member; provided that the Company will not be dissolved or required to be
        wound up in connection with any of the events specified in this Section 9.02(e) if: (i) at the time of the occurrence of such event there is at least one other Managing Member of the Company who is hereby authorized to, and elects to, carry on the
        business of the Company; or (ii) all remaining Members consent to or ratify the continuation of the business of the Company and the appointment of another Managing Member of the Company, effective as of the event that caused the Managing Member to
        cease to be a Managing Member of the Company, within 120 days following the occurrence of any such event; or

     

    (f)         the determination of the Managing Member
        in its reasonable discretion; provided that in the event of a dissolution pursuant to this clause (f), the relative economic rights of each Class of Units immediately prior to such dissolution shall be
        preserved to the greatest extent practicable with respect to Distributions made to Members pursuant to Section 9.03 below in connection with the winding up of the Company, taking into consideration tax and other legal constraints that may adversely
        affect one or more parties hereto and subject to compliance with applicable Laws and regulations, unless, and to the extent that, with respect to any Class of Units, holders of not less than 90% of the Units of such Class consent in writing to a
        treatment other than as described above.

     

    9.03      Distribution upon Dissolution. Upon dissolution, the Company shall not be terminated and shall continue until the winding up of the affairs of the Company
        is completed. Upon the winding up of the Company, the Managing Member, or any other Person designated by the Managing Member (the “Liquidation Agent”), shall take full account of the
        assets and liabilities of the Company and shall, unless the Managing Member determines otherwise, liquidate the assets of the Company as promptly as is consistent with obtaining the fair value thereof. The proceeds of any liquidation shall be
        applied and distributed in the following order:

     

      

    
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    (a)        First,
        to the satisfaction of debts and liabilities of the Company (including satisfaction of all indebtedness to Members and/or their Affiliates to the extent otherwise permitted by law) including the expenses of liquidation, and including the
        establishment of any reserve which the Liquidation Agent shall deem reasonably necessary for any contingent, conditional or unmatured contractual liabilities or obligations of the Company (“Contingencies”).

        Any such reserve may be paid over by the Liquidation Agent to any attorney-at-law, or acceptable party, as escrow agent, to be held for disbursement in payment of any Contingencies and, at the expiration of such period as shall be deemed advisable
        by the Liquidation Agent for Distribution of the balance in the manner hereinafter provided in this Section 9.03; and

     

    (b)          The balance, if any, to the Members in
        accordance with Section 4.02.

     

    9.04      Time for Liquidation. A reasonable amount of time shall be allowed for the orderly liquidation of the assets of the Company and the discharge of liabilities to creditors so as to enable
        the Liquidation Agent to minimize the losses attendant upon such liquidation. Notwithstanding the provisions of Section 9.03, but subject to the order of priorities set forth therein, if upon dissolution of the Company the Liquidation Agent
        determines that an immediate sale of part or all of the Company’s assets would be impractical or would cause undue loss (or would otherwise not be beneficial) to the Members, the Liquidation Agent may, in its sole discretion, defer for a reasonable
        time the winding up of any assets except those necessary to satisfy Company liabilities (other than loans to the Company by Members) and reserves. Subject to the order of priorities set forth in Section 9.03, the Liquidation Agent may, in its sole
        discretion, distribute to the Members, in lieu of cash, either (i) all or any portion of such remaining Company assets in-kind in accordance with the provisions of Section 9.03, (ii) as tenants in common and in accordance with the provisions of
        Section 9.03, undivided interests in all or any portion of such Company assets or (iii) a combination of the foregoing. Any such Distributions in kind shall be subject to (x) such conditions relating to the disposition and management of such assets
        as the Liquidation Agent deem reasonable and equitable and (y) the terms and conditions of any agreements governing such assets (or the operation thereof or the holders thereof) at such time. Any Company assets distributed in kind will first be
        written up or down to their Fair Market Value, thus creating Profit or Loss (if any), which shall be allocated in accordance with Article V. The Liquidation Agent shall determine the Fair Market Value of any property distributed in accordance with
        the valuation procedures set forth in Article XIV.

     

    9.05      Termination. The Company shall terminate when all of the assets of the Company, after payment of or due provision for all debts, liabilities and obligations of the Company, shall have
        been distributed to the holders of Units in the manner provided for in this Article IX, and the Certificate shall have been cancelled in the manner required by the Act.

     

    9.06       Claims of the Members. The Members shall look solely to the Company’s assets for the return of their Capital Contributions, and if the assets of the Company remaining after payment of or
        due provision for all debts, liabilities and obligations of the Company are insufficient to return such Capital Contributions, the Members shall have no recourse against the Company or any other Member or any other Person. No Member with a negative
        balance in such Member’s Capital Account shall have any obligation to the Company or to the other Members or to any creditor or other Person to restore such negative balance during the existence of the Company, upon dissolution or termination of
        the Company or otherwise, except to the extent required by the Act.

     

    9.07      Survival of Certain Provisions. Notwithstanding anything to the contrary in this Agreement, the provisions of Sections 5.07, 10.01, 10.02, 12.09 and 12.10
        shall survive the termination of the Company.

     

    ARTICLE X

     

    LIABILITY AND INDEMNIFICATION

     

    10.01      Liability of Members.

     

    
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    (a)         No Member and no Affiliate, manager,
        member, employee or agent of a Member shall be liable for any debt, obligation or liability of the Company or of any other Member or have any obligation to restore any deficit balance in its Capital Account solely by reason of being a Member of the
        Company, except to the extent required by the Act.

     

    (b)         This Agreement is not intended to, and
        does not, create or impose any duty (including any fiduciary duty) on any of the Members (including the Managing Member), the Continuing Member Representative or on their respective Affiliates. Further, notwithstanding any other provision of this
        Agreement or any duty otherwise existing at law or in equity, the parties hereto agree that no Member, Managing Member or Continuing Member Representative shall, to the fullest extent permitted by law, have duties (including fiduciary duties) to
        any other Member or to the Company, and in doing so, recognize, acknowledge and agree that their duties and obligations to one another and to the Company are only as expressly set forth in this Agreement; provided,
        however, that each Member shall have the duty to act in accordance with the implied contractual covenant of good faith and fair dealing.

     

    (c)       To the extent that, at law or in equity,
        any Member (including the Managing Member) or the Continuing Member Representative has any duties (including fiduciary duties) and liabilities relating thereto to the Company, to another Member or to another Person who is a party to or is otherwise
        bound by this Agreement, none of the Members (including the Managing Member) or the Continuing Member Representative acting under this Agreement will be liable to the Company, to any such other Member or to any such other Person who is a party to
        or is otherwise bound by this Agreement, for their good faith reliance on the provisions of this Agreement. The provisions of this Agreement, to the extent that they restrict or eliminate the duties and liabilities relating thereto of any Member
        (including the Managing Member) or Continuing Member Representative otherwise existing at law or in equity, are agreed by the Members to replace to that extent such other duties and liabilities of the Members or Continuing Member Representative
        relating thereto (including the Managing Member).

     

    (d)         The Managing Member may consult with
        legal counsel, accountants and financial or other advisors selected by it, and any act or omission taken by the Managing Member on behalf of the Company or in furtherance of the interests of the Company in good faith in reliance upon and in
        accordance with the advice of such Person as to matters the Managing Member reasonably believes to be within such Person’s professional or expert competence shall be conclusively presumed to have been done or omitted in good faith and in accordance
        with such opinion or advice, and the Managing Member will be fully protected in so acting or omitting to act so long as such counsel or accountants or financial or other advisors were selected with reasonable care.

     

    (e)         Notwithstanding any other provision of
        this Agreement or otherwise applicable provision of law or equity, whenever in this Agreement the Managing Member is permitted or required to make a decision (i) in its “sole discretion” or under a grant of similar authority or latitude, such
        Managing Member shall be entitled to consider only such interests and factors as it desires, including its own interests, and shall, to the fullest extent permitted by applicable Law, have no duty or obligation to give any consideration to any
        interest of or factors affecting the Company or the Members, or (ii) in its “good faith” or under another expressed standard, such Managing Member shall act under such express standard and shall not be subject to any other or different standards.

     

    
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    (f)         To the
        fullest extent permitted by applicable Law, the doctrine of corporate opportunity, or any analogous doctrine, shall not apply to (a) any other Member that is not a director, managers, officer or employee of the Company, PubCo or any of their
        respective Subsidiaries, in which case solely acting in their capacity as such, (b) any of their respective Affiliates (other than the Company, the Managing Member or any of their respective Subsidiaries), (c) RB, McKesson Corporation, Sealed Air
        Corporation, SA, Carlyle, Quality King or any other Person that was a Member immediately before the Effective Time or any of its respective Affiliates (including its respective investors and equityholders and any associated Persons or investment
        funds or any of their respective portfolio companies or investments) or (d) any of the respective officers, managers, directors, agents, shareholders, members, and partners of any of the foregoing (each, a “Business Opportunities Exempt Party”). The Company and each of the Members, on its own behalf and on behalf of their respective Affiliates and equityholders, hereby renounces any interest or expectancy of the Company
        in, or in being offered an opportunity to participate in, business opportunities that are from time to time presented to any Business Opportunities Exempt Party and irrevocably waives any right to require any Business Opportunity Exempt Party to
        act in a manner inconsistent with the provisions of this Section 10.01(f). No Business Opportunities Exempt Party who acquires knowledge of a potential transaction, agreement, arrangement or other matter that may be an opportunity for PubCo, the
        Company or any of their respective Subsidiaries, Affiliates or equityholders shall have any duty to communicate or offer such opportunity to the Company and none of PubCo, the Company or any of their respective Subsidiaries, Affiliates or
        equityholders will acquire or be entitled to any interest or participation in any such transaction, agreement, arrangement or other matter or opportunity as a result of participation therein by a Business Opportunity Exempt Party. This 10.01(f)
        shall not apply to, and no interest or expectancy of the Company is renounced with respect to, any opportunity offered to any director of PubCo if such opportunity is expressly offered or presented to, or acquired or developed by, such Person
        solely in his or her capacity as a director or officer of the Company. No amendment or repeal of this 10.01(f) shall apply to or have any effect on the liability or alleged liability of any Business Opportunities Exempt Party for or with respect to
        any opportunities of which any such Business Opportunities Exempt Party becomes aware prior to such amendment or repeal. Any Person purchasing or otherwise acquiring any interest in any Units shall be deemed to have notice of and consented to the
        provisions of this 10.01(f). Neither the amendment or repeal of this 10.01(f), nor the adoption of any provision of this Agreement inconsistent with this 10.01(f), shall eliminate or reduce the effect of this 10.01(f) in respect of any business
        opportunity first identified or any other matter occurring, or any cause of action that, but for this 10.01(f), would accrue or arise, prior to such amendment, repeal or adoption. No action or inaction taken by any Business Opportunities Exempt
        Party in a manner consistent with this 10.01(f) shall be deemed to be a violation of any fiduciary or other duty owed to any Person.

     

    10.02     Indemnification.

     

    (a)         Exculpation and Indemnification. Notwithstanding any other provision of this Agreement, whether express or implied, to the fullest extent permitted by law, no Indemnitee shall be liable to the Company or any
        Member for any act or omission in relation to the Company or this Agreement or any transaction contemplated hereby taken or omitted by an Indemnitee unless such Indemnitee’s conduct constituted fraud, bad faith or willful misconduct. To the fullest
        extent permitted by law, as the same exists or hereafter be amended (but in the case of any such amendment, only to the extent that such amendment permits the Company to provide broader indemnification rights than such law permitted the Company to
        provide prior to such amendment), the Company shall indemnify any Indemnitee who was or is made or is threatened to be made a party to or is otherwise involved in any threatened, pending or completed action, suit or proceeding (brought in the right
        of the Company or otherwise), whether civil, criminal, administrative, arbitrative or investigative, and whether formal or informal (hereinafter a “Proceeding”), including appeals, by
        reason of his or her or its status as an Indemnitee or by reason of any action alleged to have been taken or omitted to be taken by Indemnitee in such capacity, for and against all loss and liability suffered and expenses (including attorneys’
        fees), judgments, fines and amounts paid in settlement reasonably incurred by such Indemnitee in connection with such action, suit or proceeding, including appeals; provided that such Indemnitee shall not
        be entitled to indemnification hereunder if, but only to the extent that, such Indemnitee’s conduct constituted fraud, bad faith or willful misconduct. Notwithstanding the preceding sentence, except as otherwise provided in Section 10.02(c), the
        Company shall be required to indemnify an Indemnitee in connection with any action, suit or proceeding (or part thereof) (i) commenced by such Indemnitee only if the commencement of such action, suit or proceeding (or part thereof) by such
        Indemnitee was authorized by the Managing Member, and (ii) by or in the right of the Company only if the Managing Member has provided its prior written consent. The indemnification of an Indemnitee of the type identified in clause (e) of the
        definition of Indemnitee shall be secondary to any and all indemnification to which such Indemnitee is entitled from the relevant other Person (including any payment made to such Indemnitee under any insurance policy issued to or for the benefit of
        such Person or Indemnitee) (the “Primary Indemnification”), and will only be paid to the extent the Primary Indemnification is not paid and/or does not provide coverage (e.g., a
        self-insured retention amount under an insurance policy). No such Person shall be entitled to contribution or indemnification from or subrogation against the Company. The indemnification of any other Indemnitee shall, to the extent not in conflict
        with such policy, be secondary to any and all payment to which such Indemnitee is entitled from any relevant insurance policy issued to or for the benefit of the Company or any Indemnitee.

     

    
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    (b)         Advancement

          of Expenses. To the fullest extent permitted by law, the Company shall promptly pay reasonable expenses (including attorneys’ fees) incurred by any Indemnitee in appearing at, participating in or defending any Proceeding in advance of the
        final disposition of such Proceeding, including appeals, upon presentation of an undertaking on behalf of such Indemnitee to repay such amount if it shall ultimately be determined that such Indemnitee is not entitled to be indemnified under this
        Section 10.02 or otherwise. Notwithstanding the preceding sentence, except as otherwise provided in Section 10.02(c), the Company shall be required to pay expenses of an Indemnitee in connection with any Proceeding (or part thereof) (i) commenced
        by such Indemnitee only if the commencement of such action, suit or proceeding (or part thereof) by such Indemnitee was authorized by the Managing Member and (ii) by or in the right of the Company only if the Managing Member has provided its prior
        written consent.

     

    (c)        Unpaid Claims. If a claim for indemnification (following the final disposition of such Proceeding) or advancement of expenses under this Section 10.02 is not paid in full within 30 days after a written claim
        therefor by any Indemnitee has been received by the Company, such Indemnitee may file proceedings to recover the unpaid amount of such claim and, if successful in whole or in part, shall be entitled to be paid the expense of prosecuting such claim.
        In any such action the Company shall have the burden of proving that such Indemnitee is not entitled to the requested indemnification or advancement of expenses under applicable Law.

     

    (d)         Insurance.
        (i) To the fullest extent permitted by law, the Company may purchase and maintain insurance on behalf of any person described in Section 10.02(a) against any liability asserted against such person, whether or
        not the Company would have the power to indemnify such person against such liability under the provisions of this Section 10.02 or otherwise.

     

    (ii)        In the event of any payment by the
        Company under this Section 10.02, the Company shall be subrogated to the extent of such payment to all of the rights of recovery of the Indemnitee from any relevant other Person or under any insurance policy issued to or for the benefit of the
        Company, such relevant other Person, or any Indemnitee. Each Indemnitee agrees to execute all papers required and take all action necessary to secure such rights, including the execution of such documents as are necessary to enable the Company to
        bring suit to enforce any such rights in accordance with the terms of such insurance policy or other relevant document. The Company shall pay or reimburse all expenses actually and reasonably incurred by the Indemnitee in connection with such
        subrogation.

     

    (iii)    The Company shall not be liable under this
        Section 10.02 to make any payment of amounts otherwise indemnifiable hereunder (including judgments, fines and amounts paid in settlement, and excise taxes with respect to an employee benefit plan or penalties) if and to the extent that the
        applicable Indemnitee has otherwise actually received such payment under this Section 10.02 or any insurance policy, contract, agreement or otherwise.

     

    
      46

      
        

    

    (e)       Non-Exclusivity

          of Rights. The provisions of this Section 10.02 shall be applicable to all actions, claims, suits or proceedings made or commenced after the date of this Agreement, whether arising from acts or omissions to act occurring before or after
        its adoption. The provisions of this Section 10.02 shall be deemed to be a contract between the Company and each person entitled to indemnification under this Section 10.02 (or legal representative thereof) who serves in such capacity at any time
        while this Section 10.02 and the relevant provisions of applicable Law, if any, are in effect, and any amendment, modification or repeal hereof shall not affect any rights or obligations then existing with respect to any state of facts or any
        action, suit or proceeding then or theretofore existing, or any action, suit or proceeding thereafter brought or threatened based in whole or in part on any such state of facts. If any provision of this Section 10.02 shall be found to be invalid or
        limited in application by reason of any Law or regulation, it shall not affect the validity of the remaining provisions hereof. The rights of indemnification provided in this Section 10.02 shall neither be exclusive of, nor be deemed in limitation
        of, any rights to which any person may otherwise be or become entitled or permitted by contract, this Agreement or as a matter of law, both as to actions in such person’s official capacity and actions in any other capacity, it being the policy of
        the Company that indemnification of any person whom the Company is obligated to indemnify pursuant to Section 10.02(a) shall be made to the fullest extent permitted by law.

     

    For purposes of this Section 10.02, references to “other enterprises” shall include employee benefit plans; references to “fines” shall include any
      excise taxes assessed on a person with respect to an employee benefit plan; and references to “serving at the request of the Company” shall include any service as a director, officer, employee or agent of the Company which imposes duties on, or
      involves services by, such director, officer, employee, or agent with respect to an employee benefit plan, its participants, or beneficiaries.

     

    This Section 10.02 shall not limit the right of the Company, to the extent and in the manner permitted by law, to indemnify and to advance expenses to,
      and purchase and maintain insurance on behalf of, persons other than persons described in Section 10.02(a).

     

    ARTICLE XI

     

    VALUATION

     

    11.01     Fair Market Value. For all purposes of this Agreement, “Fair Market Value” of any asset, property or equity interest means the
        amount which a seller of such asset, property or equity interest would receive in a sale of such asset, property or equity interest in an arms-length transaction with an unaffiliated third party consummated on a date determined by the Managing
        Member (which may be the date on which the event occurred which necessitated the determination of the Fair Market Value) (and after giving effect to any transfer taxes payable in connection with such sale).

     

    11.02     Determination. Fair Market Value shall be determined by the Managing Member (or, if pursuant to Section 9.03, the Liquidation Agent) in its good faith judgment in such manner as it deems
        reasonable and using all factors, information and data deemed to be pertinent; provided that no determination of Fair Market Value shall give effect or take into account any “minority discount” or “liquidity discount” (or any similar discount
        arising out of the fact that the Units are restricted or is not registered with the Commission, publicly traded or listed on a securities exchange), but shall value the Company and its Subsidiaries and their respective businesses in their entirety
        on an enterprise basis using any variety of industry recognized valuation techniques commonly used to value businesses.

     

    ARTICLE XII

     

    MISCELLANEOUS

    
      47

      
        

    

    12.01     Severability. If any term or other provision of this Agreement is held to be invalid, illegal or incapable of being enforced by any rule of Law, or public policy, all other conditions and
        provisions of this Agreement shall nevertheless remain in full force and effect so long as the economic or legal substance of the transactions is not affected in any manner materially adverse to any party. Upon a determination that any term or
        other provision is invalid, illegal or incapable of being enforced, the parties hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in a mutually acceptable manner
        in order that the transactions contemplated hereby be consummated as originally contemplated to the fullest extent possible.

     

    12.02     Notices. All notices, requests, claims, demands and other communications hereunder shall be in writing and shall be given (and shall be deemed to have been
        duly given upon receipt) by delivery in person, by courier service (delivery receipt requested), by electronic mail or by registered or certified mail (postage prepaid, return receipt requested) to the respective parties at the following addresses
        (or at such other address for a party as shall be specified in a notice given in accordance with this Section 12.02):

     

    	

          	(a)	
            If to the Company, to:

          

    

    

    Packable Holdings, LLC

    1985 Marcus Ave, Suite 207

    Lake Success NY 11042

    
      	
              Attention:

            	
              Ian R. Cohen, General Counsel

            
	
              Email:

            	
              ian@pharmapacks.com

            

    

    

    

    	

          	 (b)	
            If to any Member other than the Managing Member, to such Member at the address of such Member as set forth on Exhibit A.

          

     

    	

          	(c)	
            If to the Managing Member, to:

          

    

    

    Packable Commerce, Inc.

    [•]

    [•]

    Attention: [•]

    Email: [•]

    

    

    12.03    Cumulative Remedies. The rights and remedies provided by this Agreement are cumulative and the use of any one right or remedy by any party shall not preclude or waive its right to use any
        or all other remedies. Said rights and remedies are given in addition to any other rights the parties may have by Law.

     

    12.04     Binding Effect. This Agreement shall be binding upon and inure to the benefit of all of the parties and, to the extent permitted by this Agreement, their successors, executors,
        administrators, heirs, legal representatives and assigns.

     

    12.05     Interpretation. Throughout this Agreement, nouns, pronouns and verbs shall be construed as masculine, feminine, neuter, singular or plural, whichever shall be applicable. Unless otherwise
        specified, all references herein to “Articles,” “Sections” and paragraphs shall refer to corresponding provisions of this Agreement. The word “including” or any variation thereof means “including, without limitation” and shall not be construed to limit any general statement that it follows to the specific or similar items or matters immediately following it.

     

    
      48

      
        

    

    Each party hereto acknowledges and agrees that the parties hereto have participated collectively in the negotiation and drafting of this Agreement and
      that he or she or it has had the opportunity to draft, review and edit the language of this Agreement; accordingly, it is the intention of the parties that no presumption for or against any party arising out of drafting all or any part of this
      Agreement will be applied in any dispute relating to, in connection with or involving this Agreement. Accordingly, the parties hereby waive to the fullest extent permitted by law the benefit of any rule of law or any legal decision that would require
      that in cases of uncertainty, the language of a contract should be interpreted most strongly against the party who drafted such language.

     

    12.06    Counterparts. This Agreement may be executed and delivered (including by email or facsimile transmission) in one or more counterparts, and by the different
        parties hereto in separate counterparts, each of which when executed and delivered shall be deemed to be an original but all of which taken together shall constitute one and the same agreement. Copies of executed counterparts transmitted by
        telecopy or other electronic transmission service shall be considered original executed counterparts for purposes of this Section 12.06.

     

    12.07    Further Assurances. Each Member shall perform all other acts and execute and deliver all other documents as may be necessary or appropriate to carry out the purposes and intent of this
        Agreement.

     

    12.08    Entire Agreement. This Agreement constitutes the entire agreement among the parties hereto pertaining to the subject matter hereof and supersedes all prior agreements and understandings,
        whether oral or written, pertaining thereto (including the Existing LLC Agreement).

     

    12.09     Governing Law. This Agreement shall be governed by, and construed in accordance with, the Law of the State of Delaware.

     

    12.10     Submission to Jurisdiction; Waiver of Jury Trial.

     

    (a)         Any and all disputes which cannot be
        settled amicably with respect to this Agreement, including any action (at law or in equity), claim, litigation, suit, arbitration, hearing, audit, review, inquiry, proceeding or investigation or ancillary claims of any party, arising out of,
        relating to or in connection with the validity, negotiation, execution, interpretation, performance or non-performance of this Agreement or any matter arising out of or in connection with this Agreement and the rights and obligations arising
        hereunder or thereunder, or for recognition and enforcement of any judgment in respect of this Agreement and the rights and obligations arising hereunder or thereunder brought by a party hereto or its successors or assigns, shall be brought and
        determined exclusively in the Delaware Chancery Court, if such court shall not have jurisdiction, any federal court located in the State of Delaware, or, if neither of such courts shall have jurisdiction, any other Delaware state court. Each of the
        parties hereby irrevocably submits with regard to any such dispute for itself and in respect of its property, generally and unconditionally, to the sole and exclusive personal jurisdiction of the aforesaid courts and agrees that it will not bring
        any dispute relating to this Agreement or any of the transactions contemplated by this Agreement in any court other than the aforesaid courts. Each party irrevocably consents to service of process in any dispute in any of the aforesaid courts by
        the mailing of copies thereof by registered or certified mail, postage prepaid, or by recognized overnight delivery service, to such party at such party’s address referred to in Section 12.02. Each party hereby irrevocably and unconditionally
        waives, and agrees not to assert as a defense, counterclaim or otherwise, in any action brought by any party with respect to this Agreement (i) any claim that it is not personally subject to the jurisdiction of the aforesaid courts for any reason
        other than the failure to serve process in accordance with this Section 12.10; (ii) any claim that it or its property is exempt or immune from the jurisdiction of any such court or from any legal process commenced in such courts (whether through
        service of notice, attachment prior to judgment, attachment in aid of execution of judgment, execution of judgment or otherwise); or (iii) any objection which such party may now or hereafter have (A) to the laying of venue of any of the aforesaid
        actions arising out of or in connection with this Agreement brought in the courts referred to above; (B) that such action brought in any such court has been brought in an inconvenient forum and (C) that this Agreement, or the subject matter hereof
        or thereof, may not be enforced in or by such courts.

     

    
      49

      
        

    

    (b)        To the extent that any party has or
        hereafter may acquire any immunity from jurisdiction of any court or from any legal process (whether through service or notice, attachment prior to judgment, attachment in aid of execution, execution or otherwise) with respect to itself, or to such
        party’s property, each such party hereby irrevocably waives such immunity in respect of such party’s obligations with respect to this Agreement.

     

    (c)         EACH PARTY ACKNOWLEDGES THAT IT IS
        KNOWINGLY AND VOLUNTARILY AGREEING TO THE CHOICE OF DELAWARE LAW TO GOVERN THIS AGREEMENT AND TO THE JURISDICTION OF DELAWARE COURTS IN CONNECTION WITH PROCEEDINGS BROUGHT HEREUNDER. THE PARTIES INTEND THIS TO BE AN EFFECTIVE CHOICE OF DELAWARE LAW
        AND AN EFFECTIVE CONSENT TO JURISDICTION AND SERVICE OF PROCESS UNDER 6 DEL. C. § 2708.

     

    (d)      EACH PARTY, FOR ITSELF AND ITS AFFILIATES,
        HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW ALL RIGHT TO TRIAL BY JURY IN ANY ACTION OR COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATING TO THE ACTIONS OF THE
        PARTIES OR THEIR RESPECTIVE AFFILIATES PURSUANT TO THIS AGREEMENT OR THE OTHER TRANSACTION DOCUMENTS IN THE NEGOTIATION, ADMINISTRATION, PERFORMANCE OR ENFORCEMENT HEREOF OR THEREOF.

     

    12.11    Expenses. Except as otherwise specified in this Agreement, the Company shall be responsible for all costs and expenses, including fees and disbursements of counsel, financial advisors and
        accountants, incurred by the Members and the Company in connection with the preparation, negotiation, and operation of this Agreement.

     

    12.12      Amendments and Waivers.

     

    (a)        This Agreement (including the Annexes
        hereto) may be amended, supplemented, waived or modified by the Managing Member in its sole discretion without the approval of any other Member or other Person so long as such amendment is executed and delivered to the Company by the Requisite
        Members; provided that no amendment, including any amendment effected by way of merger, consolidation or Transfer of all or substantially all the assets of the Company, may materially and adversely affect
        the rights of a holder of Units, as such, other than on a pro rata basis with other holders of Units of the same Class without the consent of such holder (or, if there is more than one such holder that is so affected, without the consent of a
        majority in interest of such affected holders in accordance with their holdings of such Class of Units); provided further, that notwithstanding the foregoing, the Managing Member may, without the written
        consent of any Member or any other Person, amend, supplement, waive or modify any provision of this Agreement, including Schedule I, and execute, swear to, acknowledge, deliver, file and record whatever documents may be required in connection
        therewith, to reflect: (1) any amendment, supplement, waiver or modification that the Managing Member determines in its reasonable discretion to be necessary or appropriate in connection with the creation, authorization or issuance of Units or any
        Class or series of equity interest in the Company pursuant to Section 7.01 hereof; (2) the admission, substitution, or withdrawal of Members in accordance with this Agreement, pursuant to Section 8.07 hereof; (3) a change in the name of the
        Company, the location of the principal place of business of the Company, the registered agent of the Company or the registered office of the Company; (4) any amendment, supplement, waiver or modification that the Managing Member determines in its
        reasonable discretion to be necessary or appropriate to address changes in U.S. federal income tax regulations, legislation or interpretation; and/or (5) a change in the Fiscal Year or taxable year of the Company and any other changes that the
        Managing Member determines to be necessary or appropriate as a result of a change in the Fiscal Year or taxable year of the Company including a change in the dates on which Distributions are to be made by the Company. If an amendment has been
        approved in accordance with this agreement, such amendment shall be adopted and effective with respect to all Members. Upon obtaining such approvals as may be required by this Agreement, and without further action or execution on the part of any
        other Member or other Person, any amendment to this Agreement may be implemented and reflected in a writing executed solely by the Managing Member and the other Members shall be deemed a party to and bound by such amendment.

     

    
      50

      
        

    

    (b)         No failure or delay by any party in
        exercising any right, power or privilege hereunder (other than a failure or delay beyond a period of time specified herein) shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise
        thereof or the exercise of any other right, power or privilege. The rights and remedies herein provided shall be cumulative and not exclusive of any rights or remedies provided by Law.

     

    (c)        Except as may be otherwise required by
        law in connection with the winding-up, liquidation, or dissolution of the Company, each Member hereby irrevocably waives any and all rights that it may have to maintain an action for judicial accounting or for partition of any of the Company’s
        property.

     

    12.13     No Third Party Beneficiaries. This Agreement shall be binding upon and inure solely to the benefit of the parties hereto and their permitted assigns and successors and nothing herein,
        express or implied, is intended to or shall confer upon any other Person or entity, any legal or equitable right, benefit or remedy of any nature whatsoever under or by reason of this Agreement (other than pursuant to Section 10.02 hereof); provided, however, that each employee, officer, director, agent or indemnitee of any Person who is bound by this Agreement or its Affiliates is an intended third party
        beneficiary of Section 12.10 and shall be entitled to enforce its rights thereunder.

     

    12.14     Headings. The headings and subheadings in this Agreement are included for convenience and identification only and are in no way intended to describe, interpret, define or limit the scope,
        extent or intent of this Agreement or any provision hereof.

     

    12.15     Power of Attorney. Each Member, by its execution hereof, hereby makes, constitutes and appoints the Managing Member as its true and lawful agent and attorney in fact, with full power of
        substitution and full power and authority in its name, place and stead, to make, execute, sign, acknowledge, swear to, record and file (a) this Agreement and any amendment to this Agreement that has been consented to and adopted as herein provided;
        (b) all amendments to the Certificate required or permitted by law or the provisions of this Agreement; (c) all certificates and other instruments (including consents and ratifications which the Members have agreed to provide upon a matter
        receiving the agreed support of Members) deemed advisable by the Managing Member to carry out the provisions of this Agreement and Law or to permit the Company to become or to continue as a limited liability company or entity wherein the Members
        have limited liability in each jurisdiction where the Company may be doing business; (d) all instruments that the Managing Member deems appropriate to reflect a change or modification of this Agreement or the Company in accordance with this
        Agreement, including the admission of additional Members or substituted Members pursuant to the provisions of this Agreement; (e) all conveyances and other instruments or papers deemed advisable by the Managing Member to effect the liquidation and
        termination of the Company; and (f) all fictitious or assumed name certificates required or permitted (in light of the Company’s activities) to be filed on behalf of the Company.

     

    
      51

      
        

    

    12.16    Separate Agreements; Schedules. Notwithstanding any other provision of this Agreement, including Section 12.12, the Managing Member in its sole discretion
        may, or may cause the Company to, without the approval of any Member or other Person, enter into separate subscription, letter or other agreements with individual Members that have become or will become Members after the date hereof with respect to
        any matter, which have the effect of establishing rights under, or altering, supplementing or amending the terms of, this Agreement. The parties hereto agree that any terms contained in any such separate agreement shall govern with respect to such
        future Member(s) party thereto notwithstanding the provisions of this Agreement. The Managing Member in its sole discretion may from time to time execute and deliver to the Members schedules which set forth information contained in the books and
        records of the Company and any other matters deemed appropriate by the Managing Member. Such schedules shall be for information purposes only and shall not be deemed to be part of this Agreement for any purpose whatsoever. Notwithstanding anything
        to the contrary, solely for U.S. federal income tax purposes, this Agreement, the Tax Receivable Agreement, the Exchange Agreement and any other separate agreement described in this Section 12.16 shall constitute a “partnership agreement” within
        the meaning of Section 761 of the Code.

     

    12.17   Partnership Status. The Members intend to treat the Company as a partnership for U.S. federal income tax purposes and notwithstanding anything to the contrary herein, no election to the
        contrary shall be made.

     

    12.18    Delivery by Facsimile or Email. This Agreement, the agreements referred to herein, and each other agreement or instrument entered into in connection herewith or therewith or contemplated
        hereby or thereby, and any amendments hereto or thereto, to the extent signed and delivered by means of a facsimile machine or email with scan or facsimile attachment, shall be treated in all manner and respects as an original agreement or
        instrument and shall be considered to have the same binding legal effect as if it were the original signed version thereof delivered in person. No party hereto or to any such agreement or instrument shall raise the use of a facsimile machine or
        email to deliver a signature or the fact that any signature or agreement or instrument was transmitted or communicated through the use of a facsimile machine or email as a defense to the formation or enforceability of a contract, and each such
        party forever waives any such defense.

     

    12.19     Competitively Sensitive Information.  Notwithstanding anything in this Agreement to the contrary, no Member (other than the Managing Member and Carlyle) shall be entitled to receive any Competitively Sensitive
        Information.

     

    [Remainder of Page Intentionally Left Blank]

     

    
      52

      
        

    

    In Witness Whereof, the parties hereto have entered into this Agreement or have caused
      this Agreement to be duly executed by their respective authorized officers, in each case as of the date first above stated.

     

    	 	
            COMPANY:

          
	 	
            PACKABLE HOLDINGS, LLC

          

    	 	
            By:

          	 	 
	 	
            Name:

          
	 	
            Title:

          

     

    

    [Signature Page – Amended and Restated Operating Agreement of Packable Holdings, LLC]

    

    

    
      
        

    

    In Witness Whereof, the parties hereto have entered into this Agreement or have caused
      this Agreement to be duly executed by their respective authorized officers, in each case as of the date first above stated.

     

    	 	
            MANAGING MEMBER:

          
	 	
            PACKABLE COMMERCE, INC.

          

    	 	
            By:

          	 	 
	 	
            Name:

          
	 	
            Title:

          

     

    

    [Signature Page – Amended and Restated Operating Agreement of Packable Holdings, LLC]

    

    

    
      
        

    

    In Witness Whereof, the parties hereto have entered into this Agreement or have caused
      this Agreement to be duly executed by their respective authorized officers, in each case as of the date first above stated.

     

    	 	
            OTHER MEMBERS:

          
	 	
            [•]

          
	 	 	 
	 	
            (Signature)

          

     

    

    [Signature Page – Amended and Restated Operating Agreement of Packable Holdings, LLC]

    

    

    
      
        

    

    EXHIBIT A

     

    [To come.]

     

    [Signature Page – Amended and Restated Operating Agreement of Packable Holdings, LLC]

    

    

    
      
        

    

    SCHEDULE I

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