Document:

EX-4.3

 Exhibit 4.3 
  

 
  

POOLING AGREEMENT 

BETWEEN 
 ALLY AUTO
ASSETS LLC 
 AND 

ALLY BANK 
 DATED AS OF
APRIL 30, 2018 
  
  

 
  

 Table of Contents 
  

							
	 	    	 	  	Page	 
		
	ARTICLE I DEFINITIONS	  	 	1	 
			
	 SECTION 1.01
	    	 Definitions
	  	 	1	 
			
	 SECTION 1.02
	    	 Owner of a Receivable
	  	 	1	 
		
	 ARTICLE II PURCHASE AND SALE OF RECEIVABLES
	  	 	1	 
			
	 SECTION 2.01
	    	 Purchase and Sale of Receivables
	  	 	1	 
			
	 SECTION 2.02
	    	 Receivables Purchase Price
	  	 	3	 
			
	 SECTION 2.03
	    	 The Closing
	  	 	3	 
		
	 ARTICLE III REPRESENTATIONS AND WARRANTIES
	  	 	3	 
			
	 SECTION 3.01
	    	 Representations and Warranties as to the Receivables
	  	 	3	 
			
	 SECTION 3.02
	    	 Representations and Warranties as to the Pool of Receivables
	  	 	5	 
			
	 SECTION 3.03
	    	 Additional Representations and Warranties of the Seller
	  	 	6	 
			
	 SECTION 3.04
	    	 Representations and Warranties of Ally Auto
	  	 	7	 
		
	 ARTICLE IV ADDITIONAL AGREEMENTS
	  	 	8	 
			
	 SECTION 4.01
	    	 Conflicts With Further Transfer Agreements
	  	 	8	 
			
	 SECTION 4.02
	    	 Protection of Title
	  	 	8	 
			
	 SECTION 4.03
	    	 Other Liens or Interests
	  	 	9	 
			
	 SECTION 4.04
	    	 Repurchase or Substitution of Receivables
	  	 	9	 
			
	 SECTION 4.05
	    	 Indemnification
	  	 	11	 
			
	 SECTION 4.06
	    	 Further Assignments
	  	 	11	 
			
	 SECTION 4.07
	    	 Pre-Closing Collections
	  	 	11	 
			
	 SECTION 4.08
	    	 Compliance with the FDIC Rule
	  	 	11	 
			
	 SECTION 4.09
	    	 Asset Representations Review
	  	 	11	 
		
	 ARTICLE V CONDITIONS
	  	 	12	 
			
	 SECTION 5.01
	    	 Conditions to Obligation of Ally Auto
	  	 	12	 
			
	 SECTION 5.02
	    	 Conditions to Obligation of the Seller
	  	 	13	 
		
	 ARTICLE VI MISCELLANEOUS PROVISIONS
	  	 	13	 
			
	 SECTION 6.01
	    	 Amendment
	  	 	13	 
			
	 SECTION 6.02
	    	 Survival
	  	 	13	 
			
	 SECTION 6.03
	    	 Notices
	  	 	13	 

  
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 Table of Contents 

(continued) 
  

							
	 	    	 	  	Page	 
			
	 SECTION 6.04
	    	 Governing Law
	  	 	13	 
			
	 SECTION 6.05
	    	 Waivers
	  	 	13	 
			
	 SECTION 6.06
	    	 Costs and Expenses
	  	 	13	 
			
	 SECTION 6.07
	    	 Confidential Information
	  	 	14	 
			
	 SECTION 6.08
	    	 Headings
	  	 	14	 
			
	 SECTION 6.09
	    	 Counterparts
	  	 	14	 
			
	 SECTION 6.10
	    	 No Petition Covenant
	  	 	14	 
			
	 SECTION 6.11
	    	 Limitations on Rights of Others
	  	 	14	 
			
	 SECTION 6.12
	    	 Merger and Consolidation of the Seller or Ally Auto
	  	 	14	 
			
	 SECTION 6.13
	    	 Assignment
	  	 	14	 
			
	 SECTION 6.14
	    	 Official Record
	  	 	15	 

  
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	EXHIBIT A	  	–	  	Form of First Step Receivables Assignment
			
	SCHEDULE A	  	–	  	Schedule of Receivables
			
	APPENDIX A	  	 –
	  	Definitions, Rules of Construction and Notices
			
	APPENDIX B	  	 –
	  	Additional Representations and Warranties

  

 THIS POOLING AGREEMENT, dated as of April 30, 2018, is between ALLY AUTO ASSETS LLC, a Delaware
limited liability company (“Ally Auto”), and ALLY BANK, a Utah chartered bank (the “Seller”). 
 WHEREAS,
Ally Auto desires to purchase on the date hereof a portfolio of automobile and light truck retail instalment sale contracts, direct purchase money loans and related rights owned by the Seller; 

WHEREAS, the Seller is willing to sell on the date hereof such contracts and related rights to Ally Auto; 

WHEREAS, Ally Auto may wish to sell or otherwise transfer on the date hereof such contracts and related rights, or interests therein, to a
trust, corporation, partnership or other entity (any such entity being the “Issuing Entity”); and 
 WHEREAS, the Issuing
Entity may issue debentures, notes, participations, certificates of beneficial interest, partnership interests or other interests or securities (collectively, any such issued interests or securities being “Securities”) to fund its
acquisition of such contracts and related rights. 
 NOW, THEREFORE, in consideration of the premises and the mutual covenants herein
contained, the parties hereto agree as follows: 
 ARTICLE I DEFINITIONS 

SECTION 1.01    Definitions. Certain capitalized terms used in this Agreement are defined in and shall have the
respective meanings assigned to them in Part I of Appendix A to this Agreement. All references herein to “the Agreement” or “this Agreement” are to this Pooling Agreement as it may be amended, supplemented or
modified from time to time, and all references herein to Articles and Sections are to Articles or Sections of this Agreement unless otherwise specified. The rules of construction set forth in Part II of such Appendix A shall be applicable to
this Agreement. 
 SECTION 1.02    Owner of a Receivable. For purposes of this Agreement, the
“Owner” of a Receivable shall mean Ally Auto until the sale, transfer, assignment or other conveyance of such Receivable by Ally Auto pursuant to the terms of the applicable Further Transfer Agreements, and thereafter shall mean the
Issuing Entity; provided that the Seller, the Servicer or Ally Auto, as applicable, shall be the “Owner” of any Receivable from and after the time that such Person shall acquire such Receivable, whether pursuant to
Section 4.04 of this Agreement, any provision of the Further Transfer Agreements, Section 2.07 of the Servicing Agreement or otherwise. 

ARTICLE II PURCHASE AND SALE OF RECEIVABLES 

SECTION 2.01    Purchase and Sale of Receivables. 

(a)    Purchase. On the Closing Date, subject to satisfaction of the conditions specified in Article V and
the First Step Receivables Assignment (and, in any event, immediately 

  
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prior to consummation of the related transactions contemplated by the Further Transfer Agreements, if any), the Seller shall sell, transfer, assign and otherwise convey to Ally Auto, without
recourse: 
 (i)    all right, title and interest of the Seller in, to and under the Receivables listed on the Schedule
of Receivables and all monies received thereon on and after the Cutoff Date or, with respect to a Substitute Receivable, the related Substitute Cutoff Date, exclusive of any amounts allocable to the premium for physical damage collateral protection
insurance required by the Seller or the Servicer covering any related Financed Vehicle; 
 (ii)    the interest of the
Seller in the security interests in the Financed Vehicles granted by Obligors pursuant to the Receivables and, to the extent permitted by law, any accessions thereto; 

(iii)    the interest of the Seller in any proceeds from claims on any physical damage, credit life, credit disability or
other insurance policies covering the related Financed Vehicles or Obligors; 
 (iv)    the interest of the Seller in
any proceeds from recourse against Dealers on the Receivables; 
 (v)    all right, title and interest of the Seller
in, to and under the First Step Receivables Assignment; and 
 (vi)    all present and future claims, demands, causes
and choses in action in respect of any or all the foregoing described in clauses (i) through (v) above and all payments on or under and all proceeds of every kind and nature whatsoever in respect of any or all the foregoing,
including all proceeds of the conversion of any or all of the foregoing, voluntary or involuntary, into cash or other liquid property, all cash proceeds, accounts, accounts receivable, notes, drafts, acceptances, chattel paper, checks, deposit
accounts, insurance proceeds, investment property, payment intangibles, general intangibles, condemnation awards, rights to payment of any and every kind and other forms of obligations and receivables, instruments and other property which at any
time constitute all or part of or are included in the proceeds of any of the foregoing. 
 The property described in clauses
(i) through (vi) above is referred to herein collectively as the “Purchased Property.” 

(b)    It is the intention of the Seller and Ally Auto that the sale, transfer, assignment and other conveyances of the
Receivables contemplated by this Agreement and the First Step Receivables Assignment shall constitute a sale of the Receivables from the Seller to Ally Auto and the beneficial interest in and title to the Receivables shall not be part of the
Seller’s estate in the event of the filing of a petition for insolvency, receivership or conservatorship by or against the Seller or placement into receivership or conservatorship of the Seller under any relevant bankruptcy, insolvency,
receivership or conservatorship law. 
 (c)    The sale, transfer, assignment and other conveyances of Receivables
contemplated by this Agreement and the First Step Receivables Assignment do not constitute 

  
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and are not intended to result in the creation of or an assumption by Ally Auto of any obligation of the Seller, the Servicer or any other Person to the Obligors, Dealers, insurers or any other
Person in connection with the Receivables, any Dealer Agreements, any insurance policies or any other agreement or instrument relating to any of them. 

SECTION 2.02    Receivables Purchase Price. In consideration for the Purchased Property, Ally Auto shall, on the
Closing Date, pay to the Seller an amount equal to the Initial Aggregate Receivables Principal Balance in respect of the Receivables and the Seller shall execute and deliver to Ally Auto an assignment in the form attached hereto as Exhibit A
(the “First Step Receivables Assignment”). The Initial Aggregate Receivables Principal Balance is equal to $1,118,470,195.45. A portion of the Initial Aggregate Receivables Principal Balance, equal to $998,302,473.00, shall be paid
to the Seller in immediately available funds and the balance of such purchase price shall be paid through an increase in Seller’s capital account in Ally Auto (as a result of a deemed capital contribution from Seller to Ally Auto), equal to
$120,167,722.45. The amount of the deemed capital contribution shall be duly recorded by the Seller and Ally Auto. 
 SECTION
2.03    The Closing. The sale and purchase of the Receivables shall take place at the offices of Mayer Brown LLP, 71 South Wacker Drive, Chicago, Illinois 60606, on the Closing Date at a time mutually
agreeable to the Seller and Ally Auto, and will occur simultaneously with the closing of transactions contemplated by the Further Transfer Agreements. 

ARTICLE III REPRESENTATIONS AND WARRANTIES 

SECTION 3.01    Representations and Warranties as to the Receivables. The Seller makes the following
representations and warranties as to each Receivable, on which Ally Auto relies in accepting the Receivables. Such representations and warranties speak as of the Closing Date, and shall survive the sale, transfer and assignment of the Receivables to
Ally Auto and the subsequent assignment and transfer pursuant to the Further Transfer Agreements: 

(a)    Characteristics of Receivables. 

(i)    General. Each Receivable: 

(1)    is secured by a Financed Vehicle, was originated in the United States by the Seller or one of its subsidiaries or
a Dealer for the retail sale of a Financed Vehicle in the ordinary course of business, was fully and properly executed by the parties thereto, if not originated by the Seller, was purchased by the Seller from one of its subsidiaries or from such
Dealer under an existing Dealer Agreement, and was validly assigned by such subsidiary or such Dealer to the Seller in accordance with its terms; 

(2)    has created or shall create a valid, binding and enforceable first priority security interest in favor of the
Seller in the Financed Vehicle, which security interest is assignable by the Seller to Ally Auto; 

  
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 (3)    contains customary and enforceable provisions such as to render the
rights and remedies of the holder thereof adequate for realization against the collateral of the benefits of the security; 

(4)    is a Simple Interest Receivable; 

(5)    provides for level monthly payments which may vary from one another by no more than $5, which shall amortize the
Amount Financed by maturity and shall yield interest at the Annual Percentage Rate; 
 (6)    has an original term of
not less than nine (9) monthly payments and not greater than seventy-five (75) monthly payments and a remaining term of not less than three (3) monthly payments; and 

(7)    with respect to which at least one monthly payment has been made. 

(ii)    Receivables. In addition to the characteristics set forth in Section 3.01(a)(i)
above, each Receivable (1) has a first scheduled payment due date on or after December 26, 2011, (2) was originated on or after November 26, 2011, (3) as of the Cutoff Date, was not considered past due (that is, no
payments due on that Receivable in excess of $25 were more than thirty (30) days delinquent) and was not a Liquidating Receivable and (4) has an Annual Percentage Rate not greater than 19.00%. 

(b)    Schedule of Receivables. The information set forth in the Schedule of Receivables is true and correct in all
material respects relating to such Receivable. 
 (c)    Compliance With Law. All requirements of applicable
federal, State and local laws, and regulations thereunder, including usury laws, Utah banking laws, the Federal Truth-in-Lending Act, the Equal Credit Opportunity Act,
the Fair Credit Billing Act, the Fair Credit Reporting Act, the Fair Debt Collection Practices Act, the Federal Trade Commission Act, the Magnuson-Moss Warranty Act, the Consumer Financial Protection Bureau’s Regulations “B” and
“Z,” the Servicemembers Civil Relief Act of 2003, the Texas Consumer Credit Code, and state adaptations of the National Consumer Act and the Uniform Consumer Credit Code and other consumer credit laws and equal credit opportunity and
disclosure laws, in respect of each such Receivable and other Purchased Property, have been complied with in all material respects, and each such Receivable and the sale of the Financed Vehicle evidenced thereby complied at the time it was
originated or made and now complies in all material respects with all legal requirements of the jurisdiction in which it was originated or made. 

(d)    Binding Obligation. Each such Receivable represents the genuine, legal, valid and binding payment obligation
in writing of the Obligor thereon, enforceable in all material respects by the holder thereof in accordance with its terms, except as enforceability may be limited by bankruptcy, insolvency, reorganization or similar laws affecting the enforcement
of creditors’ rights in general and by equity, regardless of whether such enforceability is considered in a proceeding in equity or at law. 

  
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 (e)    Security Interest in Financed Vehicle. Immediately prior to the
sale, transfer and assignment thereof pursuant hereto and the First Step Receivables Assignment, each Receivable was secured by a validly perfected first priority security interest in the Financed Vehicle in favor of the Seller as secured party or
all necessary and appropriate action had been commenced that would result in the valid perfection of a first priority security interest in the Financed Vehicle in favor of the Seller as secured party. 

(f)    Receivables In Force. Each such Receivable has not been satisfied, subordinated or rescinded, and the
Financed Vehicle securing each such Receivable has not been released from the lien of the related Receivable in whole or in part. 

(g)    No Waiver. Since the Cutoff Date no provision of any such Receivable has been waived, altered or modified in
any respect, except to the extent set forth in the related Receivable File; provided that no such modification has increased the number of originally scheduled due dates or the Amount Financed of the related Receivable. 

(h)    No Defenses. No right of rescission, setoff, counterclaim or defense has been asserted or threatened as
indicated in the Receivable File with respect to any such Receivable. 
 (i)    Insurance. The Obligor under each
such Receivable is required to maintain a physical damage insurance policy of the type that the Seller requires in accordance with its customary underwriting standards for the purchase of motor vehicle related receivables. 

(j)    Good Title. Each such Receivable has not been sold, transferred, assigned or pledged by the Seller to
any Person other than Ally Auto; immediately prior to the conveyance of each such Receivable pursuant to this Agreement and the First Step Receivables Assignment, the Seller had good and marketable title thereto, free of any Lien; and, upon
execution and delivery of this Agreement by the Seller, Ally Auto shall have all of the right, title and interest of the Seller in and to each such Receivable, the unpaid indebtedness evidenced thereby and the collateral security therefor,
free of any Lien. 
 (k)    One Original. There is only one original executed copy (or with respect to
“electronic chattel paper,” one authoritative copy) of each such Receivable. 
 (l)    No Documents or
Instruments. No such Receivable, or constituent part thereof, constitutes a “negotiable instrument” or “negotiable document of title” (as such terms are used in the UCC). 

SECTION 3.02    Representations and Warranties as to the Pool of Receivables. The Seller makes the following
representations and warranties as to the pool of Receivables, on which Ally Auto relies in accepting the Receivables. Such representations and warranties speak as of the Closing Date, and shall survive the sale, transfer and assignment of the
Receivables to Ally Auto and the subsequent assignment and transfer pursuant to the Further Transfer Agreements: 

(a)    Creation, Perfection and Priority of Security Interests. The representations and warranties regarding
creation, perfection and priority of security interests in the Purchased 

  
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Property, which are attached to this Agreement as Appendix B, are true and correct to the extent that they are applicable. 

(b)    No Adverse Selection. No selection procedures believed to be adverse to Ally Auto or to holders of the
Securities issued under the Further Transfer Agreements were utilized in selecting the Receivables from those receivables of the Seller that meet the selection criteria set forth in this Agreement. 

(c)    No Liens. To the best of the Seller’s knowledge: (1) there are no liens or claims that have been
filed for work, labor or materials affecting any Financed Vehicle securing any Receivable that are or may be liens prior to, or equal or coordinate with, the security interest in the Financed Vehicle granted by such Receivable; (2) no
contribution failure has occurred with respect to any Benefit Plan which is sufficient to give rise to a lien under Section 303 (k) of ERISA with respect to any Receivable; and (3) no tax lien has been filed and no claim related
thereto is being asserted with respect to any Receivable. 
 (d)    Lawful Assignment. Each such Receivable was
not originated in, or is not subject to the laws of, any jurisdiction the laws of which would make unlawful the sale, transfer and assignment of each such Receivable under this Agreement, the Trust Sale Agreement or the Indenture, as applicable.

 (e)    All Filings Made. All filings (including UCC filings) necessary in any jurisdiction to give Ally Auto a
first priority perfected ownership interest in each such Receivable shall have been made. 
 SECTION
3.03    Additional Representations and Warranties of the Seller. The Seller hereby represents and warrants to Ally Auto as of the Closing Date that: 

(a)    Organization and Good Standing; FDIC. The Seller has been duly organized and is validly existing as a Utah
chartered bank, with power and authority to own its properties and to conduct its business as such properties are presently owned and such business is presently conducted; and as of the date hereof, the Seller is insured by the Federal Deposit
Insurance Corporation and is subject to the Federal Deposit Insurance Act; 
 (b)    Due Qualification. The
Seller is duly qualified to do business as a foreign entity in good standing, and has obtained all necessary licenses and approvals, in all jurisdictions in which the ownership or lease of property or the conduct of its business requires or shall
require such qualification; 
 (c)    Power and Authority. The Seller has the power and authority to execute and
deliver this Agreement and the First Step Receivables Assignment and to carry out its terms; the Seller has full power and authority to sell and assign the property to be sold and assigned to Ally Auto, and has duly authorized such sale and
assignment to Ally Auto by all necessary corporate action; and the execution, delivery and performance of this Agreement and the First Step Receivables Assignment have been duly authorized by the Seller by all necessary corporate action; 

  
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 (d)    Valid Sale; Binding Obligation. This Agreement and the First
Step Receivables Assignment, when duly executed and delivered, shall constitute a valid sale, transfer and assignment of the Receivables, in each case, enforceable against creditors of and purchasers from the Seller; and this Agreement together with
the First Step Receivables Assignment, when duly executed and delivered, shall constitute a legal, valid and binding obligation of the Seller enforceable in accordance with its terms, except as enforceability may be limited by bankruptcy,
receivership, conservatorship, insolvency, reorganization or other similar laws affecting the enforcement of creditors’ rights in general and by general principles of equity, regardless of whether such enforceability is considered in a
proceeding in equity or at law; 
 (e)    No Violation. The consummation of the transactions contemplated by this
Agreement and the First Step Receivables Assignment and the fulfillment of the terms of this Agreement and the First Step Receivables Assignment shall not conflict with, result in any breach of any of the terms and provisions of, or constitute (with
or without notice or lapse of time) a default under, the articles of incorporation or bylaws (or similar organizational documents) of the Seller, or any indenture, agreement, mortgage, deed of trust or other instrument to which the Seller is a party
or by which it is bound, or result in the creation or imposition of any Lien upon any of its properties pursuant to the terms of any such indenture, agreement, mortgage, deed of trust or other instrument, other than this Agreement and the First Step
Receivables Assignment or violate any law or, to the best of the Seller’s knowledge, any order, rule or regulation applicable to the Seller of any court or of any federal or State regulatory body, administrative agency or other governmental
instrumentality having jurisdiction over the Seller or any of its properties; and 
 (f)    No Proceedings. To
the Seller’s knowledge, there are no proceedings or investigations pending, or threatened, before any court, regulatory body, administrative agency or other tribunal or governmental instrumentality having jurisdiction over the Seller or its
properties (A) asserting the invalidity of this Agreement or the First Step Receivables Assignment, (B) seeking to prevent the consummation of any of the transactions contemplated by this Agreement or the First Step Receivables Assignment,
or (C) seeking any determination or ruling that might materially and adversely affect the performance by the Seller of its obligations under, or the validity or enforceability of, this Agreement and the First Step Receivables Assignment. 

SECTION 3.04    Representations and Warranties of Ally Auto. Ally Auto hereby represents and warrants to the Seller
as of the Closing Date: 
 (a)    Organization and Good Standing. Ally Auto has been duly formed and is validly
existing as an entity in good standing under the laws of the State of Delaware, with power and authority to own its properties and to conduct its business as such properties are presently owned and such business is presently conducted; 

(b)    Due Qualification. Ally Auto is duly qualified to do business as a foreign entity in good standing, and has
obtained all necessary licenses and approvals in all jurisdictions in which the ownership or lease of property or the conduct of its business requires such qualification; 

  
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 (c)    Power and Authority. Ally Auto has the power and authority to
execute and deliver this Agreement and the First Step Receivables Assignment and to carry out its terms; Ally Auto had at all relevant times, and now has, power, authority and legal right to acquire and own the Receivables and the execution,
delivery and performance of this Agreement and the First Step Receivables Assignment have been duly authorized by Ally Auto by all necessary limited liability company action; 

(d)    No Violation. The consummation of the transactions contemplated by this Agreement and the First Step
Receivables Assignment and the fulfillment of the terms of this Agreement and the First Step Receivables Assignment shall not conflict with, result in any breach of any of the terms and provisions of or constitute (with or without notice or lapse of
time) a default under, the certificate of formation or limited liability company agreement of Ally Auto, or any indenture, agreement, mortgage, deed of trust or other instrument to which Ally Auto is a party or by which it is bound, or result in the
creation or imposition of any Lien upon any of its properties pursuant to the terms of any such indenture, agreement or other instrument, other than any Further Transfer Agreement or violate any law or, to the best of Ally Auto’s knowledge, any
order, rule or regulation applicable to Ally Auto of any court or of any federal or State regulatory body, administrative agency or other governmental instrumentality having jurisdiction over Ally Auto or any of its properties; and 

(e)    No Proceedings. To Ally Auto’s knowledge, there are no proceedings or investigations pending, or
threatened, before any court, regulatory body, administrative agency or other tribunal or governmental instrumentality having jurisdiction over Ally Auto or its properties (i) asserting the invalidity of this Agreement and the First Step
Receivables Assignment, or (ii) seeking any determination or ruling that might materially and adversely affect the performance by Ally Auto of its obligations under, or the validity or enforceability of, this Agreement and the First Step
Receivables Assignment. 
 ARTICLE IV ADDITIONAL AGREEMENTS 

SECTION 4.01    Conflicts With Further Transfer Agreements. To the extent that any provision of
Sections 4.02 through 4.04 of this Agreement conflicts with any provision of the Further Transfer Agreements, the Further Transfer Agreements shall govern. 

SECTION 4.02    Protection of Title. 

(a)    Filings. The Seller shall prepare or authorize, as applicable, and file such financing statements or
amendments to financing statements and cause to be authorized or prepared, as applicable, and filed such continuation and other statements, all in such manner and in such places as may be required by law fully to preserve, maintain and protect the
interest of Ally Auto under this Agreement and the First Step Receivables Assignment in the Receivables and the other Purchased Property and in the proceeds thereof. The Seller shall deliver (or cause to be delivered) to Ally Auto file-stamped
copies of, or filing receipts for, any document filed as provided above, as soon as available following such filing, and the Seller hereby authorizes Ally Auto and its assigns to file all such financing statements without its signature. 

  
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 (b)    Name Change. The Seller shall not change its State of
organization or its name, identity or entity structure in any manner that would, could or might make any financing statement or continuation statement filed by the Seller, Ally Auto or Ally Auto’s assigns in accordance with
Section 4.02(a) seriously misleading within the meaning of the UCC, unless it shall give Ally Auto written notice thereof within ten (10) days of such change. 

(c)    Executive Office; Maintenance of Offices. The Seller shall give Ally Auto written notice within ten
(10) days of any relocation of its principal executive office if, as a result of such relocation, the applicable provisions of the UCC would require the filing of any amendment of any previously filed financing or continuation statement or of
any new financing statement. The Seller shall at all times maintain each office from which it originates Receivables and its principal executive office within the United States of America. 

(d)    New Debtor. In the event that the Seller shall change the jurisdiction in which it is formed or otherwise
enter into any transaction which would result in a “new debtor” (as defined in the UCC) succeeding to the obligations of the Seller hereunder, the Seller shall comply fully with the obligations of Section 4.02(a).

 SECTION 4.03    Other Liens or Interests. Except for the conveyances hereunder and under the First Step
Receivables Assignment and as contemplated by the Further Transfer Agreements, the Seller shall not sell, pledge, assign or transfer the Receivables or other Purchased Property to any other Person, or grant, create, incur, assume or suffer to exist
any Lien on any interest therein, and the Seller shall defend the right, title and interest of Ally Auto in, to and under such Receivables or other Purchased Property against all claims of third parties claiming through or under the Seller. 

SECTION 4.04    Repurchase or Substitution of Receivables. 

(a)    Repurchase or Substitution Events. By its execution of the Further Transfer Agreements to which it is a
party, the Seller shall acknowledge the assignment by Ally Auto of such of its right, title and interest in, to and under this Agreement and the First Step Receivables Assignment to the Issuing Entity as shall be provided in the Further Transfer
Agreements. The Seller hereby covenants and agrees with Ally Auto for the benefit of Ally Auto and the Interested Parties that in the event of a breach of any of the Seller’s representations and warranties contained in
Section 3.01 or Section 3.02 hereof with respect to any Receivable (a “Repurchase or Substitution Event”), the Seller shall (a) if such breach is discovered on or prior to the
second anniversary of the Closing Date and if the aggregate Principal Balance of the Substitute Receivables substituted since the Closing Date is less than or equal to 10% of the Initial Aggregate Receivables Principal Balance, the Seller shall
substitute a Substitute Receivable in exchange for such Warranty Receivable by delivering a First Step Receivables Assignment with respect to such Substitute Receivable on the related Substitution Date or (b) if such breach is discovered after
the second anniversary of the Closing Date or if the Seller has previously sold Substitute Receivables to Ally Auto in an amount greater than 10% of the Initial Aggregate Receivables Principal Balance, the Seller shall, if required by the Further
Transfer Agreements, repurchase such Warranty Receivable from the Issuing Entity (if the Issuing Entity is then the Owner of such Warranty Receivable) on the date and for the amount specified in the Further Transfer Agreements, in each case, without
further notice from Ally Auto hereunder. 

  
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Upon the occurrence of a Repurchase or Substitution Event with respect to a Warranty Receivable for which Ally Auto is the Owner, the Seller agrees to repurchase or substitute such Warranty
Receivable from Ally Auto for an amount and upon the same terms as the Seller would be obligated to repurchase or substitute such Warranty Receivable from the Issuing Entity if the Issuing Entity was then the Owner thereof, and upon payment of the
Warranty Payment, the Seller shall have such rights with respect to such Warranty Receivable as if the Seller had purchased or substituted such Warranty Receivable from the Issuing Entity as the Owner thereof. It is understood and agreed that the
obligation of the Seller to repurchase or substitute any Warranty Receivable as to which a breach has occurred and is continuing shall, if such obligation is fulfilled, constitute the sole remedy against the Seller for such breach available to Ally
Auto or any Interested Party. 
 (b)    Identification of Substitute Receivables. The Seller shall select the
Substitute Receivable within the portfolio of receivables owned by the Seller by identifying all of the receivables that meet the criteria set forth in each of the following criteria and then removing receivables that do not satisfy the criteria
specified in each successive clause in the order of priority set forth below until only one receivable is available: 

(i)    first, the Substitute Receivable must satisfy each of the criteria set forth in the definition of “Substitute
Receivable”; 
 (ii)    second, the Substitute Receivable must be the receivable owned by the Seller that has a
Principal Balance closest to the Principal Balance of the related Warranty Receivable; 
 (iii)    third, the
Substitute Receivable must be the receivable owned by the Seller that has an Annual Percentage Rate closest to the Annual Percentage Rate of the related Warranty Receivable; 

(iv)    fourth, the Substitute Receivable must be the receivable owned by the Seller that has a remaining term closest to
the remaining term of the Warranty Receivable; 
 (v)    fifth, the Substitute Receivable must be the receivable owned
by the Seller that has an accompanying FICO score closest to the FICO score of the Obligor related to the Warranty Receivable; and 

(vi)    sixth, the Substitute Receivable must be the receivable owned by the Seller that is secured by the related
Financed Vehicle that is closest to the Financed Vehicle that secures the related Warranty Receivable, with the characteristics determined in the following order of priority: 

(1)    the make of the related Financed Vehicle; 

(2)    the model year of the related Financed Vehicle; 

(3)    whether the related Financed Vehicle was used or new at the time that the Substitute Receivable was acquired by
the Seller; and 

  
 10 

 (4)    the mileage of the related Financed Vehicle to the nearest 10th of a mile. 
 (c)    Repurchase Dispute Resolution. The Seller
hereby agrees to cooperate with the Interested Parties in any ADR Proceeding commenced pursuant to the provisions set forth in the Further Transfer Agreements. Ally Auto hereby agrees to provide the Seller with the opportunity to exercise any rights
of Ally Auto pursuant to the Further Transfer Agreements with respect to an ADR Proceeding to the extent a dispute relates to the representations and warranties of the Seller contained in Section 3.01 or
Section 3.02. 
 SECTION 4.05    Indemnification. The Seller shall indemnify Ally Auto
for any liability as a result of the failure of a Receivable to be originated in compliance with all requirements of law. This indemnity obligation shall be in addition to any obligation that the Seller may otherwise have. 

SECTION 4.06    Further Assignments. The Seller acknowledges that Ally Auto may, pursuant to the Further Transfer
Agreements, sell the Receivables to the Issuing Entity and assign its rights hereunder and under the First Step Receivables Assignment to the Issuing Entity, subject to the terms and conditions of the Further Transfer Agreements, and that the
Issuing Entity may in turn further pledge, assign or transfer its rights in the Receivables and this Agreement and the First Step Receivables Assignment. The Seller further acknowledges that Ally Auto may assign its rights under the Custodian
Agreement to the Issuing Entity. 
 SECTION 4.07    Pre-Closing
Collections. Within two (2) Business Days after the Closing Date the Seller shall transfer to the account or accounts designated by Ally Auto (or by the Issuing Entity under the Further Transfer Agreements) all collections on the
Receivables held by the Seller on the Closing Date, and conveyed to Ally Auto pursuant to Section 2.01. 
 SECTION
4.08    Compliance with the FDIC Rule. The Seller agrees to (i) perform the covenants set forth in Article XII of the Indenture applicable to it and (ii) facilitate compliance with Article XII of the Indenture by
the Ally Parties. 
 SECTION 4.09    Asset Representations Review. 

(a)    The Seller shall (i) at all times while any Public Notes remain Outstanding, ensure that an Asset
Representations Reviewer is appointed, (ii) cooperate with the Asset Representations Reviewer in creating procedures for a review of the representations and warranties set forth in Section 3.01, (iii) provide the Asset
Representations Reviewer with the Asset Representations Review Notice and (iv) provide the Asset Representations Reviewer with reasonable access to the Seller’s offices and information databases upon the initiation of an Asset
Representations Review as set forth in Section 5.17(d) of the Indenture. 
 (b)    Upon receipt of a final report
from the Asset Representations Reviewer, the Seller shall review the findings of the Asset Representations Reviewer and determine whether a breach of a representation or warranty set forth in Section 3.01 has occurred with
respect to any Receivable tested by the Asset Representations Reviewer and whether a repurchase or substitution of such Receivable is required pursuant to Section 4.04(a). Upon the

  
 11 

 
written request of a Noteholder or Note Owner, the Seller shall forward the final report from the Asset Representations Reviewer to such Noteholder or Note Owner. 

ARTICLE V CONDITIONS 

SECTION 5.01    Conditions to Obligation of Ally Auto. The obligation of Ally Auto to purchase the Receivables
hereunder and pursuant to the First Step Receivables Assignment is subject to the satisfaction of the following conditions: 

(a)    Representations and Warranties True. The representations and warranties of the Seller hereunder shall be
true and correct at the time of the Closing Date, and the Seller shall have performed all obligations to be performed by it hereunder on or prior to the Closing Date. 

(b)    No Repurchase or Substitution Event. No Repurchase or Substitution Event shall have occurred on or prior to
the Closing Date. 
 (c)    Computer Files Marked. The Seller shall have or shall have caused to have, at its own
expense, on or prior to the Closing Date, indicated in its computer files created in connection with the Receivables that the Receivables have been sold to Ally Auto pursuant to this Agreement and the First Step Receivables Assignment and deliver to
Ally Auto the Schedule of Receivables, certified by an officer of the Seller to be true, correct and complete. 

(d)    Documents to be Delivered By the Seller. 

(i)    The Assignment. On the Closing Date, the Seller shall execute and deliver the First Step Receivables
Assignment. 
 (ii)    Evidence of UCC Filing. On or prior to the Closing Date, the Seller shall record and
file, at its own expense, a UCC-1 financing statement in each jurisdiction in which required by applicable law, authorized by and naming the Seller as seller or debtor, naming Ally Auto as purchaser or secured
party, naming the Receivables and the other Purchased Property as collateral, meeting the requirements of the laws of each such jurisdiction and in such manner as is necessary to perfect the sale, transfer, assignment and conveyance of such
Receivables to Ally Auto. The Seller shall deliver a file-stamped copy, or other evidence satisfactory to Ally Auto of such filing, to Ally Auto on or prior to the Closing Date. 

(iii)    Other Documents. On the Closing Date, the Seller shall provide such other documents as Ally Auto may
reasonably request. 
 (e)    Other Transactions. The transactions contemplated by the Further Transfer
Agreements shall be consummated to the extent that such transactions are intended to be substantially contemporaneous with the transactions hereunder. 

(f)    Asset Representations Reviewer. The Asset Representations Reviewer shall have been appointed and shall have
entered into the Asset Representations Review Agreement. 

  
 12 

 SECTION 5.02    Conditions to Obligation of the Seller. The obligation
of the Seller to sell the Receivables to Ally Auto hereunder or pursuant to the First Step Receivables Assignment is subject to the satisfaction of the following conditions: 

(a)    Representations and Warranties True. The representations and warranties of Ally Auto hereunder shall be true
and correct as of the Closing Date with respect to the Receivables, and Ally Auto shall have performed all obligations to be performed by it hereunder or pursuant to the First Step Receivables Assignment on or prior to the closing hereunder. 

(b)    Receivables Purchase Price. On the Closing Date, Ally Auto shall pay to the Seller that portion of the
Initial Aggregate Receivables Principal Balance as provided in Section 2.02. 
 ARTICLE VI MISCELLANEOUS
PROVISIONS 
 SECTION 6.01    Amendment. This Agreement may be amended from time to time (subject to any
expressly applicable amendment provision of the Further Transfer Agreements or the Servicing Agreement) by a written amendment duly executed and delivered by the Seller and Ally Auto. 

SECTION 6.02    Survival. The representations and warranties of the Seller set forth in Articles III and
IV of this Agreement shall remain in full force and effect and shall survive the Closing Date under Section 2.03 hereof and the closing under the Further Transfer Agreements. 

SECTION 6.03    Notices. All demands, notices and communications upon or to the Seller or Ally Auto under this
Agreement shall be delivered as specified in Part III of Appendix A to this Agreement. 
 SECTION
6.04    Governing Law. THIS AGREEMENT AND THE FIRST STEP RECEIVABLES ASSIGNMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO THE PRINCIPLES OF
CONFLICTS OF LAWS THEREOF OR OF ANY OTHER JURISDICTION OTHER THAN SECTION 5-1401 AND SECTION 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW, AND THE OBLIGATIONS, RIGHTS
AND REMEDIES OF THE PARTIES UNDER THIS AGREEMENT SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 
 SECTION
6.05    Waivers. No failure or delay on the part of Ally Auto in exercising any power, right or remedy under this Agreement or the First Step Receivables Assignment shall operate as a waiver thereof, nor shall any single
or partial exercise of any such power, right or remedy preclude any other or further exercise thereof or the exercise of any other power, right or remedy. 

SECTION 6.06    Costs and Expenses. The Seller agrees to pay all reasonable out-of-pocket costs and expenses of Ally Auto, including fees and expenses of counsel, in connection with the perfection as against third parties of Ally Auto’s right, title and interest in, to and under
the Receivables and the enforcement of any obligation of the Seller hereunder. 

  
 13 

 SECTION 6.07    Confidential Information. Ally Auto agrees that it
shall neither use nor disclose to any person the names and addresses of the Obligors, except in connection with the enforcement of Ally Auto’s rights hereunder, under the Receivables, under the Further Transfer Agreements or as required by law.

 SECTION 6.08    Headings. The headings of the various Articles and Sections herein are for convenience of
reference only and shall not define or limit any of the terms or provisions hereof. 
 SECTION
6.09    Counterparts. This Agreement may be executed in two or more counterparts and by different parties on separate counterparts, each of which shall be an original, but all of which together shall constitute one and the
same instrument. 
 SECTION 6.10    No Petition Covenant. Notwithstanding any prior termination of this
Agreement, the Seller shall not, prior to the date which is one year and one day after the final distribution with respect to the Notes to the Note Distribution Account or, with respect to the Certificates, to the Certificateholder or the
Certificate Distribution Account, acquiesce, petition or otherwise invoke or cause Ally Auto or the Issuing Entity to invoke the process of any court or government authority for the purpose of commencing or sustaining a case against Ally Auto or the
Issuing Entity under any federal or State bankruptcy, insolvency or similar law or appointing a receiver, liquidator, assignee, trustee, custodian, sequestrator or other similar official of Ally Auto or the Issuing Entity or any substantial part of
the property of either of them, or ordering the winding up or liquidation of the affairs of Ally Auto or the Issuing Entity under any federal or State bankruptcy or insolvency proceeding. 

SECTION 6.11    Limitations on Rights of Others. The provisions of this Agreement and the First Step Receivables
Assignment are solely for the benefit of the Seller and Ally Auto and, to the extent expressly provided herein, the Interested Parties, and nothing in this Agreement, whether express or implied, shall be construed to give to any other Person any
legal or equitable right, remedy or claim in, under or in respect of this Agreement or any covenants, conditions or provisions contained herein. 

SECTION 6.12    Merger and Consolidation of the Seller or Ally Auto. Any corporation, limited liability
company or other entity (i) into which either of the Seller or Ally Auto may be merged or consolidated, (ii) resulting from any merger or consolidation to which either of the Seller or Ally Auto shall be a party, (iii) succeeding to
the business of either of the Seller or Ally Auto or (iv) 25% or more of the voting stock (or, if not a corporation, other voting interests) of which is owned, directly or indirectly, by General Motors or Ally Financial, which corporation, limited
liability company or other entity in any of the foregoing cases executes an agreement of assumption to perform every obligation of the Seller or Ally Auto (as applicable) under this Agreement and the other Basic Documents shall be the successor to
the Seller or Ally Auto (as applicable) under this Agreement and the other Basic Documents without the execution or filing of any document or any further act on the part of any of the parties to this Agreement. 

SECTION 6.13    Assignment. Notwithstanding anything to the contrary contained in this Agreement, this Agreement
may be assigned by the Seller or Ally Auto without the consent of any other Person to a corporation, limited liability company or other entity that is a 

  
 14 

 
successor (by merger, consolidation or purchase of assets) to the Seller or Ally Auto (as applicable), or 25% or more of the voting interests of which is owned, directly or indirectly, by General
Motors or by Ally Financial, provided that the assignee of Ally Auto executes an agreement of assumption, as provided in Section 3.03(a) of the Trust Sale Agreement. 

SECTION 6.14    Official Record. This Agreement is, and the Seller agrees to maintain this Agreement from
and after the date hereof as, an official record (within the meaning of Section 13(e) of the Federal Deposit Insurance Act) of the Seller. 

*    *    *    *    * 

  
 15 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed by their
respective officers as of the day and year first above written. 
  

			
	ALLY BANK
		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	
	
	ALLY AUTO ASSETS LLC
		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	

  

 EXHIBIT A 

FORM OF 
 FIRST STEP RECEIVABLES
ASSIGNMENT 
 PURSUANT TO THE POOLING AGREEMENT 

For value received, in accordance with the Pooling Agreement, dated as of April 30, 2018 (the “Pooling Agreement”), between
Ally Bank, a Utah chartered bank (the “Seller”), and Ally Auto Assets LLC, a Delaware limited liability company (“Ally Auto”), the Seller does hereby sell, assign, transfer and otherwise convey unto Ally Auto,
without recourse, as of April 30, 2018, (i) all right, title and interest of the Seller in, to and under the Receivables listed on the Schedule of Receivables attached as Schedule A hereto and all monies received thereon on and after the
[Substitute] Cutoff Date, exclusive of any amounts allocable to the premium for physical damage collateral protection insurance required by the Seller or the Servicer covering any related Financed Vehicle; (ii) the interest of the Seller in the
security interests in the Financed Vehicles granted by Obligors pursuant to the Receivables and, to the extent permitted by law, any accessions thereto; (iii) the interest of the Seller in any proceeds from claims on any physical damage, credit
life, credit disability or other insurance policies covering the related Financed Vehicles or Obligors; (iv) the interest of the Seller in any proceeds from recourse against Dealers on the Receivables; (v) all right, title and interest of
the Seller in, to and under the First Step Receivables Assignment; and (vi) all present and future claims, demands, causes and choses in action in respect of any or all the foregoing described in clauses (i), (ii), (iii), (iv) and
(v) above and all payments on or under and all proceeds of every kind and nature whatsoever in respect of any or all the foregoing, including all proceeds of the conversion of any or all of the foregoing, voluntary or involuntary, into cash or
other liquid property, all cash proceeds, accounts, accounts receivable, notes, drafts, acceptances, chattel paper, checks, deposit accounts, insurance proceeds, investment property, payment intangibles, general intangibles, condemnation awards,
rights to payment of any and every kind and other forms of obligations and receivables, instruments and other property which at any time constitute all or part of or are included in the proceeds of any of the foregoing. 

It is the intention of the Seller and Ally Auto that the sale, transfer, assignment and other conveyances of the Receivables contemplated by
the Pooling Agreement and this First Step Receivables Assignment shall constitute a sale of the Receivables from the Seller to Ally Auto and the beneficial interest in and title to the Receivables shall not be part of the Seller’s estate in the
event of the filing of a petition for insolvency, receivership or conservatorship by or against the Seller or placement into receivership or conservatorship of the Seller under any relevant bankruptcy, insolvency, receivership or conservatorship
law. 
 The foregoing sale, transfer, assignment and other conveyances of the Receivables contemplated by the Pooling Agreement and this
First Step Receivables Assignment do not constitute and are not intended to result in the creation of or an assumption by Ally Auto of any obligation of the undersigned to the Obligors, Dealers, insurers or any other Person in connection with the
Receivables, any Dealer Agreements, any insurance policies or any other agreement or instrument relating to any of them. 

  
 A-1 

 [For purposes of this First Step Receivables Assignment, the Substitute Cutoff Date shall be
[            ], 20[    ].] 
 This First Step Receivables
Assignment is made pursuant to and upon the representations, warranties and agreements on the part of the undersigned contained in the Pooling Agreement and is to be governed by the Pooling Agreement. 

Capitalized terms used herein and not otherwise defined herein shall have the meaning assigned to them in the Pooling Agreement. 

*    *    *    *    * 

  
 A-2 

 IN WITNESS WHEREOF, the undersigned has caused this First Step Receivables Assignment to be duly executed as of
the day and year first above written. 
  

			
	ALLY BANK
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 A-3 

 SCHEDULE A 

SCHEDULE OF RECEIVABLES 

The Schedule of Receivables is 

on file at the offices of: 
  

	 	1.	The Indenture Trustee 

  

	 	2.	The Owner Trustee 

  

	 	3.	The Servicer 

  

	 	4.	The Seller 

  

	 	5.	Ally Auto Assets LLC 

  
 Schedule A 

 APPENDIX A 

Part I 
 For ease of reference,
capitalized terms defined herein have been consolidated with and are contained in Part I of Appendix A to the Servicing Agreement of even date herewith among Ally Bank, Ally Auto Assets LLC and Ally Auto Receivables Trust 2018-2, as amended and supplemented from time to time. 
 Part II 

For ease of reference, the rules of construction have been consolidated with and are contained in Part II of Appendix A to the Servicing
Agreement of even date herewith among Ally Bank, Ally Auto Assets LLC and Ally Auto Receivables Trust 2018-2, as amended and supplemented from time to time. 

Part III 
 For ease of reference,
the notice addresses and procedures have been consolidated with and are contained in Appendix B to the Servicing Agreement of even date herewith among Ally Bank, Ally Auto Assets LLC and Ally Auto Receivables Trust 2018-2, as amended and supplemented from time to time. 

  
 Appendix A 

 APPENDIX B 

Additional Representations and Warranties 
  

	1.	While it is the intention of the Seller and Ally Auto that the transfer and assignment contemplated by this Agreement and the First Step Receivables Assignment shall constitute sales of the Purchased Property from the
Seller to Ally Auto, this Agreement, the Trust Sale Agreement and the Indenture create a valid and continuing security interest (as defined in the applicable UCC) in the Purchased Property in favor of Ally Auto, the Trust and the Indenture Trustee,
as applicable, which security interest is prior to all other Liens, and is enforceable as such as against creditors of and purchasers from the Seller, Ally Auto and the Issuing Entity, respectively. 

 

	2.	All steps necessary to perfect the Seller’s security interest against each Obligor in the property securing the Purchased Property have been taken. 

 

	3.	Prior to the sale of the Purchased Property to Ally Auto under this Agreement, the Receivables constitute “tangible chattel paper” or “electronic chattel paper” within the meaning of the applicable
UCC. 

  

	4.	The Seller owns and has good and marketable title to the Purchased Property free and clear of any Lien, claim or encumbrance of any Person. 

 

	5.	The Seller has caused or will have caused, within ten (10) days, the filing of all appropriate financing statements in the proper filing office in the appropriate jurisdictions under applicable law in order to
perfect the security interest in the Purchased Property granted to Ally Auto hereunder, the Issuing Entity under the Trust Sale Agreement and the Indenture Trustee under the Indenture. 

 

	6.	Other than the security interest granted to Ally Auto pursuant to the Basic Documents, the Issuing Entity under the Trust Sale Agreement and the Indenture Trustee under the Indenture none of the Seller, Ally Auto or the
Issuing Entity has pledged, assigned, sold, granted a security interest in, or otherwise conveyed any of the Purchased Property. None of the Seller, Ally Auto or the Issuing Entity has authorized the filing of, nor is the Seller aware of, any
financing statements against the Seller, Ally Auto or the Issuing Entity that include a description of collateral covering the Purchased Property other than the financing statements relating to the security interests granted to Ally Auto, the
Issuing Entity and the Indenture Trustee under the Basic Documents or any financing statement that has been terminated. The Seller is not aware of any judgment or tax lien filings against the Seller, Ally Auto or the Issuing Entity.

  

	7.	 The Custodian has in its possession or with third party vendors all original copies (or, with respect to
Receivables that are “electronic chattel paper,” authoritative copies) of the Receivables Files and other documents that constitute or evidence the Receivables and the Purchased Property. The Receivables Files and other documents that
constitute or evidence the Receivables that are “tangible chattel paper” do not have any marks or notations indicating that they have been pledged, assigned or otherwise conveyed to any Person other than Ally Auto. All financing statements
filed or to be filed against the 

  
 Appendix B-1 

	 	
Seller in favor of Ally Auto in connection herewith describing the Receivables contain a statement to the following effect: “A purchase of or security interest in any collateral described in
this financing statement will violate the rights of Ally Auto.” 

  
 Appendix B-2EX-4.1

 Exhibit 4.1 

CERIDIAN HCM HOLDING INC. 

FORM OF 2018 EQUITY INCENTIVE PLAN 

1. Purpose. 
 The purpose
of the Ceridian HCM Holding Inc. 2018 Equity Incentive Plan is to further align the interests of eligible participants with those of the Company’s stockholders by providing incentive compensation opportunities tied to the performance of the
Company and its Common Stock. The Plan is intended to advance the interests of the Company and increase stockholder value by attracting, retaining and motivating key personnel upon whose judgment, initiative and effort the successful conduct of the
Company’s business is largely dependent. 
 2. Definitions. Capitalized terms used and not otherwise defined herein shall have
the meanings set forth below: 
 “Award” means an award of a Stock Option, Stock Appreciation Right, Restricted Stock Award,
Restricted Stock Unit, Cash Incentive Award or Stock Award granted under the Plan. 
 “Award Agreement” means a notice or
an agreement entered into between the Company and a Participant setting forth the terms and conditions of an Award granted to a Participant as provided in Section 15.2 hereof. 

“Beneficial Owner” shall have the meaning ascribed to such term in Rule 13d-3 under
the Exchange Act. 
 “Board” means the Board of Directors of the Company. 

“Cash Incentive Award” means an Award that is denominated by a cash amount to an Eligible Person under Section 10 hereof
and payable based on or conditioned upon the attainment of business and/or individual performance goals over a specified performance period. 

“Cause” shall have the meaning set forth in Section 13.2 hereof. 

“Change of Control” shall have the meaning set forth in Section 12.2 hereof. 

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

“Committee” means (i) the Compensation Committee of the Board, (ii) such other committee of the Board appointed by
the Board to administer the Plan or (iii) the Board, as determined by the Board. 
 “Common Stock” means the
Company’s common stock, par value $0.01 per share. 
 “Company” means Ceridian HCM Holding Inc., a Delaware
corporation or any successor thereto. 
 “Date of Grant” means the date on which an Award under the Plan is granted by the
Committee or such later date as the Committee may specify to be the effective date of an Award. 

 “Disability” means, unless otherwise provided by the Committee and set forth in
an Award Agreement, the failure or inability of the Participant to perform duties with the Company or any of its Subsidiaries or affiliates for a period of at least 180 consecutive days (or 180 days during any twelve (12) month period) by
reason of any physical or mental condition, as determined in good faith by the Committee in its sole discretion. Notwithstanding the foregoing, in any case in which a benefit that constitutes or includes “nonqualified deferred
compensation” subject to Section 409A would be payable by reason of Disability, the term “Disability” will mean a disability described in Treasury Regulations
Section 1.409A-3(i)(4)(i)(A). 
 “Effective Date” shall have the
meaning set forth in Section 16.1 hereof. 
 “Eligible Person” means any person who is an officer, employee, Non-Employee Director, or any natural person who is a consultant or advisor of the Company or any of its Subsidiaries. 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder,
as the same may be amended from time to time. 
 “Fair Market Value” means, as applied to a specific date, the price of a
share of Common Stock that is based on the opening, closing, actual, high, low or average selling prices of a share of Common Stock reported on any established stock exchange or national market system including without limitation the New York Stock
Exchange and the National Market System of the National Association of Securities Dealers, Inc. Automated Quotation System on the applicable date, the preceding trading day, the next succeeding trading day, or an average of trading days, as
determined by the Committee in its discretion. Unless the Committee determines otherwise or unless otherwise specified in an Award Agreement, Fair Market Value shall be deemed to be equal to the closing price of a share of Common Stock on the most
recent date on which shares of Common Stock were publicly traded. Notwithstanding the foregoing, if the Common Stock is not traded on any established stock exchange or national market system, the Fair Market Value means the price of a share of
Common Stock as established by the Committee acting in good faith based on a reasonable valuation method that is consistent with the requirements of Section 409A of the Code and the regulations thereunder. 

“Incentive Stock Option” means a Stock Option granted under Section 6 hereof that is intended to meet the requirements
of Section 422 of the Code and the regulations thereunder. 
 “Non-Employee
Director” means a member of the Board who is not an employee of the Company or any of its Subsidiaries. 
 “Nonqualified
Stock Option” means a Stock Option granted under Section 6 hereof that is not an Incentive Stock Option. 

“Participant” means any Eligible Person who holds an outstanding Award under the Plan. 

“Plan” means the Ceridian HCM Holding Inc. 2018 Equity Incentive Plan as set forth herein, effective as of the Effective Date
and as may be amended from time to time, as provided herein, and includes any sub-plan or appendix that may be created and approved by the Board to allow Eligible Persons of Subsidiaries to participate in the
Plan. 

  
 2 

 “Restricted Stock Award” means a grant of shares of Common Stock to an Eligible
Person under Section 8 hereof that are issued subject to such vesting and transfer restrictions as the Committee shall determine, and such other conditions, as are set forth in the Plan and the applicable Award Agreement. 

“Restricted Stock Unit” means a contractual right granted to an Eligible Person under Section 9 hereof representing
notional unit interests equal in value to a share of Common Stock to be paid or distributed at such times, and subject to such conditions, as set forth in the Plan and the applicable Award Agreement. 

“Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder, as the
same may be amended from time to time. 
 “Service” means a Participant’s employment with the Company or any
Subsidiary or a Participant’s service as a Non-Employee Director, consultant or other service provider with the Company or any Subsidiary, as applicable. 

“Stock Appreciation Right” means a contractual right granted to an Eligible Person under Section 7 hereof entitling such
Eligible Person to receive a payment, representing the excess of the Fair Market Value of a share of Common Stock over the base price per share of the right, at such time, and subject to such conditions, as are set forth in the Plan and the
applicable Award Agreement. 
 “Stock Awards” means a grant of shares of Common Stock to an Eligible Person under
Section 11 hereof. 
 “Stock Option” means a contractual right granted to an Eligible Person under Section 6
hereof to purchase shares of Common Stock at such time and price, and subject to such conditions, as are set forth in the Plan and the applicable Award Agreement. 

“Subsidiary” means an entity (whether or not a corporation) that is wholly or majority owned or controlled, directly
or indirectly, by the Company or any other affiliate of the Company that is so designated, from time to time, by the Committee, during the period of such affiliated status; provided, however, that with respect to Incentive Stock
Options, the term “Subsidiary” shall include only an entity that qualifies under Section 424(f) of the Code as a “subsidiary corporation” with respect to the Company. 

“Treasury Regulations” means regulations promulgated by the United States Treasury Department. 

3. Administration. 
 3.1
Committee Members. The Plan shall be administered by a Committee comprised of no fewer than two members of the Board who are appointed by the Board to administer the Plan. To the extent deemed necessary by the Board, each Committee member
shall satisfy the requirements for (i) an “independent director” under rules adopted by the New York Stock Exchange or other principal exchange on which the Common Stock is then listed and (ii) a “nonemployee director”
within the meaning of Rule 16b-3 under the Exchange Act. 

  
 3 

 
Notwithstanding the foregoing, the mere fact that a Committee member shall fail to qualify under any of the foregoing requirements shall not invalidate any Award made by the Committee which Award
is otherwise validly made under the Plan. Neither the Company nor any member of the Committee shall be liable for any action or determination made in good faith by the Committee with respect to the Plan or any Award thereunder. 

3.2 Committee Authority. The Committee shall have all powers and discretion necessary or appropriate to administer the Plan and to
control its operation, including, but not limited to, the power to (i) determine the Eligible Persons to whom Awards shall be granted under the Plan, (ii) prescribe the restrictions, terms and conditions of all Awards, (iii) interpret
the Plan and terms of the Awards, (iv) adopt rules for the administration, interpretation and application of the Plan as are consistent therewith, and interpret, amend or revoke any such rules, (v) make all determinations with respect to a
Participant’s Service and the termination of such Service for purposes of any Award, (vi) correct any defect(s) or omission(s) or reconcile any ambiguity(ies) or inconsistency(ies) in the Plan or any Award thereunder, (vii) make all
determinations it deems advisable for the administration of the Plan, (viii) decide all disputes arising in connection with the Plan and to otherwise supervise the administration of the Plan, (ix) subject to the terms of the Plan, amend
the terms of an Award in any manner that is not inconsistent with the Plan, (x) accelerate the vesting or, to the extent applicable, exercisability of any Award at any time (including, but not limited to, upon a Change of Control or upon
termination of Service under certain circumstances, as set forth in the Award Agreement or otherwise), and (xi) adopt such procedures, modifications or subplans as are necessary or appropriate to permit participation in the Plan by Eligible
Persons who are foreign nationals or employed outside of the United States. The Committee’s determinations under the Plan need not be uniform and may be made by the Committee selectively among Participants and Eligible Persons, whether or not
such persons are similarly situated. The Committee shall, in its discretion, consider such factors as it deems relevant in making its interpretations, determinations and actions under the Plan including, without limitation, the recommendations or
advice of any officer or employee of the Company or board of directors of a Subsidiary or such attorneys, consultants, accountants or other advisors as it may select. All interpretations, determinations, and actions by the Committee shall be final,
conclusive, and binding upon all parties. 
 3.3 Delegation of Authority. The Committee shall have the right, from time to time, to
delegate in writing to one or more officers of the Company the authority of the Committee to grant and determine the terms and conditions of Awards granted under the Plan, subject to the requirements of Section 157(c) of the Delaware General
Corporation Law (or any successor provision) or such other limitations as the Committee shall determine. In no event shall any such delegation of authority be permitted with respect to Awards granted to any member of the Board or to any Eligible
Person who is subject to Rule 16b-3 under the Exchange Act. The Committee shall also be permitted to delegate, to any appropriate officer or employee of the Company, responsibility for performing certain
ministerial functions under the Plan. In the event that the Committee’s authority is delegated to officers or employees in accordance with the foregoing, all provisions of the Plan relating to the Committee shall be interpreted in a manner
consistent with the foregoing by treating any such reference as a reference to such officer or employee for such purpose. Any action undertaken in accordance with the Committee’s delegation of authority hereunder shall have the same force and
effect as if such action was undertaken directly by the Committee and shall be deemed for all purposes of the Plan to have been taken by the Committee. 

  
 4 

 4. Shares Subject to the Plan. 

4.1 Number of Shares Reserved. Subject to adjustment as provided in Section 4.5 hereof, the total number of shares of Common
Stock that are reserved for issuance under the Plan (the “Share Reserve”) shall equal 13,500,000 and the total number of shares of Common Stock available for issuance as Incentive Stock Options shall be 13,500,000. Each share of
Common Stock subject to an Award shall reduce the Share Reserve by one share; provided, however, that Awards that are required to be paid in cash pursuant to their terms shall not reduce the Share Reserve. Any shares of Common Stock
delivered under the Plan shall consist of authorized and unissued shares or treasury shares. 
 4.2 Share Replenishment. To the extent
that an Award granted under this Plan is canceled, expired, forfeited, surrendered, settled by delivery of fewer shares of Common Stock than the number underlying the Award, as applicable, or otherwise terminated without delivery of the shares of
Common Stock or payment of consideration to the Participant under the Plan, the shares of Common Stock retained by or returned to the Company will (i) not be deemed to have been delivered under the Plan, as applicable, (ii) be available
for future Awards under the Plan, and (iii) increase the Share Reserve by one share for each share that is retained by or returned to the Company. Notwithstanding the foregoing, shares of Common Stock that are (a) withheld from an Award in
payment of the exercise, base or purchase price or taxes relating to such an Award or (b) not issued or delivered as a result of the net settlement of an outstanding Stock Option or Stock Appreciation Right under the Plan, as applicable, will
be deemed to have been delivered under the Plan and will not be available for future Awards under the Plan. 
 4.3 Automatic Share Reserve
Increase. The Share Reserve shall be increased on March 31 of each of the ten (10) calendar years during the term of the Plan, by the lesser of (i) three percent (3%) of the number of shares of Common Stock outstanding on each
January 31 immediately prior to the date of increase or (ii) such number of shares of Common Stock determined by the Board or Committee. 

4.4 Awards Granted to Non-Employee Directors. No
Non-Employee Director may be granted, during any calendar year, Awards having a fair value (determined on the date of grant) that, when added to all cash compensation paid to the
Non-Employee Director during the same calendar year, exceeds $600,000, or for the Non-Executive Chairman of the Board, $750,000. 

4.5 Adjustments. If there shall occur any change with respect to the outstanding shares of Common Stock by reason of any
recapitalization, reclassification, stock dividend, extraordinary dividend, stock split, reverse stock split or other distribution with respect to the shares of Common Stock or any merger, reorganization, consolidation, combination, spin-off or other similar corporate change or any other change affecting the Common Stock (other than regular cash dividends to stockholders of the Company), the Committee shall, in the manner and to the extent it
considers appropriate and equitable to the Participants and consistent with the terms of the Plan, cause an adjustment to be made to (i) the maximum number and kind of shares 

  
 5 

 
of Common Stock provided in Sections 4.1 and 4.3 hereof, (ii) the number and kind of shares of Common Stock, units or other rights subject to then outstanding Awards, (iii) the
exercise, base or purchase price for each share or unit or other right subject to then outstanding Awards, (iv) other value determinations applicable to the Plan and/or outstanding Awards, and/or (v) any other terms of an Award that are
affected by the event. Notwithstanding the foregoing, (a) any such adjustments shall, to the extent necessary, be made in a manner consistent with the requirements of Section 409A of the Code and (b) in the case of Incentive Stock
Options, any such adjustments shall, to the extent practicable, be made in a manner consistent with the requirements of Section 424(a) of the Code, unless otherwise determined by the Committee. 

5. Eligibility and Awards. 

5.1 Designation of Participants. Any Eligible Person may be selected by the Committee to receive an Award and become a Participant. The
Committee has the authority, in its discretion, to determine and designate from time to time those Eligible Persons who are to be granted Awards, the types of Awards to be granted, the number of shares of Common Stock or units subject to Awards to
be granted and the terms and conditions of such Awards consistent with the terms of the Plan. In selecting Eligible Persons to be Participants, and in determining the type and amount of Awards to be granted under the Plan, the Committee shall
consider any and all factors that it deems relevant or appropriate. Designation of a Participant in any year shall not require the Committee to designate such person to receive an Award in any other year or, once designated, to receive the same type
or amount of Award as granted to such Participant in any other year. 
 5.2 Determination of Awards. The Committee shall determine the
terms and conditions of all Awards granted to Participants in accordance with its authority under Section 3.2 hereof. An Award may consist of one type of right or benefit hereunder or of two or more such rights or benefits granted in tandem.

 5.3 Award Agreements. Each Award granted to an Eligible Person shall be represented by an Award Agreement. The terms of all Awards
under the Plan, as determined by the Committee, will be set forth in each individual Award Agreements as described in Section 15.2 hereof. 

6. Stock Options. 
 6.1
Grant of Stock Options. A Stock Option may be granted to any Eligible Person selected by the Committee, except that an Incentive Stock Option may only be granted to an Eligible Person satisfying the conditions of Section 6.7(a) hereof.
Each Stock Option shall be designated on the Date of Grant, in the discretion of the Committee, as an Incentive Stock Option or as a Nonqualified Stock Option. All Stock Options granted under the Plan are intended to comply with or be exempt from
the requirements of Section 409A of the Code, to the extent applicable. 

  
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 6.2 Exercise Price. The exercise price per share of a Stock Option shall not be less than
one hundred percent (100%) of the Fair Market Value of a share of Common Stock on the Date of Grant. The Committee may in its discretion specify an exercise price per share that is higher than the Fair Market Value of a share of Common Stock on the
Date of Grant. 
 6.3 Vesting of Stock Options. The Committee shall, in its discretion, prescribe in an award agreement the time or
times at which or the conditions upon which, a Stock Option or portion thereof shall become vested and/or exercisable. The requirements for vesting and exercisability of a Stock Option may be based on the continued Service of the Participant with
the Company or a Subsidiary for a specified time period (or periods), on the attainment of a specified performance goal(s) and/or on such other terms and conditions as approved by the Committee in its discretion. If the vesting requirements of a
Stock Option are not satisfied, the Award shall be forfeited. 
 6.4 Term of Stock Options. The Committee shall in its discretion
prescribe in an Award Agreement the period during which a vested Stock Option may be exercised; provided, however, that the maximum term of a Stock Option shall be ten (10) years from the Date of Grant. The Committee may provide
that a Stock Option will cease to be exercisable upon or at the end of a specified time period following a termination of Service for any reason as set forth in the Award Agreement or otherwise. A Stock Option may be earlier terminated as specified
by the Committee and set forth in an Award Agreement upon or following the termination of a Participant’s Service with the Company or any Subsidiary, including by reason of voluntary resignation, death, Disability, termination for Cause or any
other reason. Subject to Section 409A of the Code and the provisions of this Section 6, the Committee may extend at any time the period in which a Stock Option may be exercised. 

6.5 Stock Option Exercise; Tax Withholding. Stock Options may be granted on a basis that allows for the exercise of the right by the
Participant, or that requires the Stock Options to be exercised or surrendered for payment of the right upon a specified date or event. Subject to such terms and conditions as specified in an Award Agreement (including applicable vesting
requirements), a Stock Option may be exercised in whole or in part at any time during the term thereof by notice in the form required by the Company, together with payment of the aggregate exercise price and applicable withholding tax. Payment of
the exercise price may be made: (i) in cash or by cash equivalent acceptable to the Committee, or, (ii) to the extent permitted by the Committee in its sole discretion in an Award Agreement or otherwise (A) in shares of Common Stock
valued at the Fair Market Value of such shares on the date of exercise, (B) through an open-market, broker-assisted sales transaction pursuant to which the Company is promptly delivered the amount of proceeds necessary to satisfy the exercise
price, (C) by reducing the number of shares of Common Stock otherwise deliverable upon the exercise of the Stock Option by the number of shares of Common Stock having a Fair Market Value on the date of exercise equal to the exercise price,
(D) by a combination of the methods described above or (E) by such other method as may be approved by the Committee and set forth in the Award Agreement. In accordance with Section 15.11 hereof, and in addition to and at the time of
payment of the exercise price, the Participant shall pay to the Company the full amount of any and all applicable income tax, employment tax and other amounts required to be withheld in connection with such exercise, payable under such of the
methods described above for the payment of the exercise price as may be approved by the Committee and set forth in the Award Agreement. 

  
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 6.6 Limited Transferability of Nonqualified Stock Options. All Stock Options shall be
nontransferable except (i) upon the Participant’s death, in accordance with Section 15.3 hereof or (ii) in the case of Nonqualified Stock Options only, for the transfer of all or part of the Stock Option to a Participant’s
“family member” (as defined for purposes of the Form S-8 registration statement under the Securities Act), or as otherwise permitted by the Committee, in each case as may be approved by the Committee
in its discretion at the time of proposed transfer. The transfer of a Nonqualified Stock Option may be subject to such terms and conditions as the Committee may in its discretion impose from time to time. Subsequent transfers of a Nonqualified Stock
Option shall be prohibited other than in accordance with Section 15.3 hereof. 
 6.7 Additional Rules for Incentive Stock
Options. 
 (a) Eligibility. An Incentive Stock Option may only be granted to an Eligible Person who is considered an employee for
purposes of Treasury Regulation Section 1.421-1(h) with respect to the Company or any Subsidiary that qualifies as a “subsidiary corporation” with respect to the Company for purposes of
Section 424(f) of the Code. 
 (b) Annual Limits. No Incentive Stock Option shall be granted to a Participant as a result of
which the aggregate Fair Market Value (determined as of the Date of Grant) of the Common Stock with respect to which incentive stock options under Section 422 of the Code are exercisable for the first time in any calendar year under the Plan
and any other stock option plans of the Company or any Subsidiary or parent corporation, would exceed $100,000, determined in accordance with Section 422(d) of the Code. This limitation shall be applied by taking Stock Options into account in
the order in which granted. Any Stock Option grant that exceeds such limit shall be treated as a Nonqualified Stock Option. 
 (c)
Additional Limitations. In the case of any Incentive Stock Option granted to an Eligible Person who owns, either directly or indirectly (taking into account the attribution rules contained in Section 424(d) of the Code), stock possessing
more than ten percent (10%) of the total combined voting power of all classes of stock of the Company or any Subsidiary, the exercise price shall not be less than one hundred ten percent (110%) of the Fair Market Value of a share of Common Stock on
the Date of Grant and the maximum term shall be five (5) years. 
 (d) Termination of Service. An Award of an Incentive Stock
Option may provide that such Stock Option may be exercised not later than (i) three (3) months following termination of Service of the Participant with the Company and all Subsidiaries (other than as set forth in clause (ii) of this
Section 6.7(d)) or (ii) one year following termination of Service of the Participant with the Company and all Subsidiaries due to death or permanent and total disability within the meaning of Section 22(e)(3) of the Code, in each case
as and to the extent determined by the Committee to comply with the requirements of Section 422 of the Code. 
 (e) Other Terms and
Conditions; Nontransferability. Any Incentive Stock Option granted hereunder shall contain such additional terms and conditions, not inconsistent with the terms of the Plan, as are deemed necessary or desirable by the Committee, which terms,
together with the terms of the Plan, shall be intended and interpreted to cause such Incentive Stock Option to qualify as an “incentive stock option” under Section 422 of the Code. A Stock Option that is granted as an Incentive Stock
Option shall, to the extent it fails to qualify as an 

  
 8 

 
“incentive stock option” under the Code, be treated as a Nonqualified Stock Option. An Incentive Stock Option shall by its terms be nontransferable other than by will or by the laws of
descent and distribution, and shall be exercisable during the lifetime of a Participant only by such Participant. 
 (f) Disqualifying
Dispositions. If shares of Common Stock acquired by exercise of an Incentive Stock Option are disposed of within two years following the Date of Grant or one year following the transfer of such shares to the Participant upon exercise, the
Participant shall, promptly following such disposition, notify the Company in writing of the date and terms of such disposition and provide such other information regarding the disposition as the Company may reasonably require. 

6.8 Repricing Prohibited. Subject to the anti-dilution adjustment provisions contained in Section 4.5 hereof, without the prior
approval of the Company’s stockholders, neither the Committee nor the Board shall cancel a Stock Option when the exercise price per share exceeds the Fair Market Value of one share of Common Stock in exchange for cash or another Award (other
than in connection with a Change of Control) or cause the cancellation, substitution or amendment of a Stock Option that would have the effect of reducing the exercise price of such a Stock Option previously granted under the Plan or otherwise
approve any modification to such a Stock Option, that would be treated as a “repricing” under the then applicable rules, regulations or listing requirements adopted by the New York Stock Exchange or other principal exchange on which the
Common Stock is then listed. 
 6.9 Dividend Equivalent Rights. Dividends shall not be paid with respect to Stock Options. Dividend
equivalent rights may be granted with respect to the shares of Common Stock subject to Stock Options to the extent permitted by the Committee and set forth in the Award Agreement. 

6.10 No Rights as Stockholder. The Participant shall not have any rights as a stockholder with respect to the shares underlying a Stock
Option until such time as shares or Common Stock are delivered to the Participant pursuant to the terms of the Award Agreement. 
 7.
Stock Appreciation Rights. 
 7.1 Grant of Stock Appreciation Rights. Stock Appreciation Rights may be granted to any Eligible
Person selected by the Committee. Stock Appreciation Rights may be granted on a basis that allows for the exercise of the right by the Participant, or that provides for the automatic exercise or payment of the right upon a specified date or event.
Stock Appreciation Rights shall be non-transferable, except as provided in Section 15.3 hereof. All Stock Appreciation Rights granted under the Plan are intended to comply with or otherwise be exempt from
the requirements of Section 409A of the Code, to the extent applicable. 
 7.2 Stand-Alone and Tandem Stock Appreciation Rights.
A Stock Appreciation Right may be granted without any related Stock Option, or may be granted in tandem with a Stock Option, either on the Date of Grant or at any time thereafter during the term of the Stock Option. The Committee shall in its
discretion provide in an Award Agreement the time or times at which or the conditions upon which, a Stock Appreciation Right or portion thereof shall become vested 

  
 9 

 
and/or exercisable. The requirements for vesting and exercisability of a Stock Appreciation Right may be based on the continued Service of a Participant with the Company or a Subsidiary for a
specified time period (or periods), on the attainment of a specified performance goal(s) and/or on such other terms and conditions as approved by the Committee in its discretion. If the vesting requirements of a Stock Appreciation Right are not
satisfied, the Award shall be forfeited. A Stock Appreciation Right will be exercisable or payable at such time or times as determined by the Committee; provided, however, that the maximum term of a Stock Appreciation Right shall be
ten (10) years from the Date of Grant. The Committee may provide that a Stock Appreciation Right will cease to be exercisable upon or at the end of a period following a termination of Service for any reason. The base price of a Stock
Appreciation Right granted without any related Stock Option shall be determined by the Committee in its discretion; provided, however, that the base price per share of any such stand-alone Stock Appreciation Right shall not be less
than one hundred percent (100%) of the Fair Market Value of a share of Common Stock on the Date of Grant. 
 7.3 Payment of Stock
Appreciation Rights. A Stock Appreciation Right will entitle the holder, upon exercise or other payment of the Stock Appreciation Right, as applicable, to receive an amount determined by multiplying: (i) the excess of the Fair Market Value
of a share of Common Stock on the date of exercise or payment of the Stock Appreciation Right over the base price of such Stock Appreciation Right, by (ii) the number of shares as to which such Stock Appreciation Right is exercised or paid.
Payment of the amount determined under the foregoing may be made, as approved by the Committee and set forth in the Award Agreement, in shares of Common Stock valued at their Fair Market Value on the date of exercise or payment, in cash or in a
combination of shares of Common Stock and cash, subject to applicable tax withholding requirements. 
 7.4 Repricing Prohibited.
Subject to the anti-dilution adjustment provisions contained in Section 4.5 hereof, without the prior approval of the Company’s stockholders, neither the Committee nor the Board shall cancel a Stock Appreciation Right when the base price
per share exceeds the Fair Market Value of one share of Common Stock in exchange for cash or another Award (other than in connection with a Change of Control) or cause the cancellation, substitution or amendment of a Stock Appreciation Right that
would have the effect of reducing the base price of such a Stock Appreciation Right previously granted under the Plan or otherwise approve any modification to such Stock Appreciation Right that would be treated as a “repricing” under the
then applicable rules, regulations or listing requirements adopted by the New York Stock Exchange or other principal exchange on which the Common Stock is then listed. 

7.5 Dividend Equivalent Rights. Dividends shall not be paid with respect to Stock Appreciation Rights. Dividend equivalent rights may be
granted with respect to the shares of Common Stock subject to Stock Appreciation Rights to the extent permitted by the Committee and set forth in the Award Agreement. 

  
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 8. Restricted Stock Awards. 

8.1 Grant of Restricted Stock Awards. A Restricted Stock Award may be granted to any Eligible Person selected by the Committee. The
Committee may require the payment by the Participant of a specified purchase price in connection with any Restricted Stock Award. 
 8.2
Vesting Requirements. The restrictions imposed on shares granted under a Restricted Stock Award shall lapse in accordance with the vesting requirements specified by the Committee in the Award Agreement. The requirements for vesting of a
Restricted Stock Award may be based on the continued Service of the Participant with the Company or a Subsidiary for a specified time period (or periods), on the attainment of a specified performance goal(s) and/or on such other terms and conditions
as approved by the Committee in its discretion. If the vesting requirements of a Restricted Stock Award are not satisfied, the Award shall be forfeited and the shares of Common Stock subject to the Award shall be returned to the Company. 

8.3 Transfer Restrictions. Shares granted under any Restricted Stock Award may not be transferred, assigned or subject to any
encumbrance, pledge or charge until all applicable restrictions are removed or have expired, except as provided in Section 15.3 hereof. Failure to satisfy any applicable restrictions shall result in the subject shares of the Restricted Stock
Award being forfeited and returned to the Company. The Committee may require in an Award Agreement that certificates (if any) representing the shares granted under a Restricted Stock Award bear a legend making appropriate reference to the
restrictions imposed, and that certificates (if any) representing the shares granted or sold under a Restricted Stock Award will remain in the physical custody of an escrow holder until all restrictions are removed or have expired. 

8.4 Rights as Stockholder. Subject to the foregoing provisions of this Section 8 and the applicable Award Agreement, the
Participant shall have all rights of a stockholder with respect to the shares granted to the Participant under a Restricted Stock Award, including the right to vote the shares and receive all dividends and other distributions paid or made with
respect thereto, unless the Committee determines otherwise at the time the Restricted Stock Award is granted. Dividends and other distributions made with respect to a Restricted Stock Award shall not be paid until, and only to the extent that the
Award vests, unless otherwise provided in the Award Agreement. 
 8.5 Section 83(b) Election. If a Participant
makes an election pursuant to Section 83(b) of the Code with respect to a Restricted Stock Award, the Participant shall file, within thirty (30) days following the Date of Grant, a copy of such election with the Company and with the
Internal Revenue Service, in accordance with the regulations under Section 83 of the Code. The Committee may provide in an Award Agreement that the Restricted Stock Award is conditioned upon the Participant’s making or refraining from
making an election with respect to the Award under Section 83(b) of the Code. 

  
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 9. Restricted Stock Units. 

9.1 Grant of Restricted Stock Units. A Restricted Stock Unit may be granted to any Eligible Person selected by the Committee. The value
of each Restricted Stock Unit is equal to the Fair Market Value of a share of Common Stock on the applicable date or time period of determination, as specified by the Committee. Restricted Stock Units shall be subject to such restrictions and
conditions as the Committee shall determine. Restricted Stock Units shall be non-transferable, except as provided in Section 15.3 hereof. 

9.2 Vesting of Restricted Stock Units. The Committee shall, in its discretion, determine any vesting requirements with respect to
Restricted Stock Units, which shall be set forth in the Award Agreement. The requirements for vesting of a Restricted Stock Unit may be based on the continued Service of the Participant with the Company or a Subsidiary for a specified time period
(or periods), on the attainment of a specified performance goal(s) and/or on such other terms and conditions as approved by the Committee in its discretion. If the vesting requirements of a Restricted Stock Unit Award are not satisfied, the Award
shall be forfeited. 
 9.3 Payment of Restricted Stock Units. Restricted Stock Units shall become payable to a Participant at the time
or times determined by the Committee and set forth in the Award Agreement, which may be upon or following the vesting of the Award. Payment of a Restricted Stock Unit may be made, as approved by the Committee and set forth in the Award Agreement, in
cash or in shares of Common Stock or in a combination thereof, subject to applicable tax withholding requirements. Any cash payment of a Restricted Stock Unit shall be made based upon the Fair Market Value of a share of Common Stock, determined on
such date or over such time period as determined by the Committee. 
 9.4 Dividend Equivalent Rights. Restricted Stock Units may be
granted together with a dividend equivalent right with respect to the shares of Common Stock subject to the Award, which may be accumulated and may be satisfied in additional Restricted Stock Units that are subject to the same terms and conditions
of the applicable Restricted Stock Units or may be accumulated in cash, as determined by the Committee in its discretion. Any dividend equivalent rights accumulated with respect to a Restricted Stock Unit shall not be paid until, and only to the
extent that, the Award vests, unless otherwise provided in the Award Agreement. Dividend equivalent rights may be subject to forfeiture under the same conditions as apply to the underlying Restricted Stock Units. 

9.5 No Rights as Stockholder. The Participant shall not have any rights as a stockholder with respect to the shares subject to a
Restricted Stock Unit until such time as shares of Common Stock are delivered to the Participant pursuant to the terms of the Award Agreement. 

10. Cash Incentive Awards. 

10.1. Grant of Cash Incentive Awards. A Cash Incentive Award may be granted to any Eligible Person selected by the Committee. A Cash
Incentive Award may be evidenced by an Award Agreement specifying the performance period and such other terms and conditions as the Committee, in its discretion, shall determine. The Committee may accelerate the vesting of a Cash Incentive Award
upon a Change of Control or termination of Service under certain circumstances, as determined by the Committee. Cash Incentive Awards shall be non-transferable, except as provided in Section 15.3 hereof. 

10.2. Payment. Payment amounts may be based on the attainment of specified levels of the performance goals, including, if applicable,
specified threshold, target and maximum performance levels, and performance falling between such levels. The requirements for payment may be also based upon the continued Service of the Participant with the Company or a Subsidiary during the
respective performance period and on such other conditions as determined by the Committee. The Committee shall determine the attainment of the performance goals, the level of vesting or amount of payment to the Participant pursuant to Cash Incentive
Awards, if any. Notwithstanding the foregoing, Cash Incentive Awards may be paid, at the discretion of the Committee, in any combination of cash or shares of Common Stock, based upon the Fair Market Value of such shares at the time of payment. 

10.3. Adjustments. The Committee may provide for the performance goals or the manner in which performance will be measured against the
performance goals to be adjusted in such objective manner as it deems appropriate, including, without limitation, adjustments to reflect charges for restructurings, non-operating income, the impact of corporate transactions or discontinued
operations, events that are unusual in nature or infrequent in occurrence and other non-recurring items, currency fluctuations, litigation or claim judgements, settlements, and the cumulative effects of accounting or tax law changes. In addition,
with respect to a Participant hired or promoted following the beginning of a performance period, the Committee may determine to prorate the performance goals and/or the amount of any payment in respect of such Participant’s Cash Incentive
Awards for the partial performance period. 
 11. Stock Awards. 

11.1 Grant of Stock Awards. A Stock Award may be granted to any Eligible Person selected by the Committee. A Stock Award may be granted
for past Services, in lieu of bonus or other cash compensation, as directors’ compensation or for any other valid purpose as determined by the Committee. The Committee shall determine the terms and conditions of such Awards, and such Awards may
be made without vesting requirements. In addition, the Committee may, in connection with any Stock Award, require the payment of a specified purchase price. 

  
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 11.2 Rights as Stockholder. Subject to the foregoing provisions of this Section 10
and the applicable Award Agreement, upon the issuance of shares of Common Stock under a Stock Award the Participant shall have all rights of a stockholder with respect to the shares of Common Stock, including the right to vote the shares and receive
all dividends and other distributions paid or made with respect thereto. 
 12. Change of Control. 

12.1 Effect on Awards. Upon the occurrence of a Change of Control, unless otherwise provided in the Award Agreement, the Committee is
authorized (but not obligated) to make adjustments in the terms and conditions of outstanding Awards, including without limitation the following (or any combination thereof): (a) continuation or assumption of such outstanding Awards under the Plan
by the Company (if it is the surviving company or corporation) or by the surviving company or corporation or its parent; (b) substitution by the surviving company or corporation or its parent of awards with substantially the same terms for
outstanding Awards (with appropriate adjustments to the type of consideration payable upon settlement of the Awards); (c) acceleration of exercisability, vesting and/or payment under outstanding Awards immediately prior to the occurrence of such
event or upon a termination of Service following such event; (d) upon written notice, provide that any outstanding Stock Options and Stock Appreciation Rights are exercisable during a reasonable period of time immediately prior to the scheduled
consummation of the event or such other reasonable period as determined by the Committee (contingent upon the consummation of the event), and at the end of such period, such Stock Options and Stock Appreciation Rights shall terminate to the extent
not so exercised within the relevant period; and (e) cancel all or any portion of outstanding Awards for fair value (in the form of cash, shares of Common Stock, other property or any combination thereof) as determined in the sole discretion of
the Committee; provided, however, that, in the case of Stock Options and Stock Appreciation Rights, the fair value may equal the excess, if any, of the value or amount of the consideration to be paid in the Change of Control
transaction to holders of shares of Common Stock (or, if no such consideration is paid, Fair Market Value of the shares of Common Stock) over the aggregate exercise or base price, as applicable, with respect to such Awards or portion thereof being
canceled, or if no such excess, zero. 
 12.2 Definition of Change of Control. Unless otherwise defined in an Award
Agreement, “Change of Control” shall mean the occurrence of one or more of the following events: 
 (a) Any person, within
the meaning of Section 3(a)(9) of the Exchange Act and used in Sections 13(d) and 14(d) thereof, including a “group” as defined in Section 13(d) thereof (“Person”), becomes the Beneficial Owner, directly or
indirectly, of more than fifty percent (50%) of the combined voting power, excluding Thomas H. Lee Partners, L.P., Cannae Holdings, Inc, and each of their respective affiliates (each an “Excluded Person”) or any person that is the
Beneficial Owner, directly or indirectly, of more than fifty percent (50%) of the combined voting power on the Effective Date, of the then outstanding voting securities of the Company entitled to vote generally in the election of its directors (the
“Outstanding Company Voting Securities”) including by way of merger, consolidation or otherwise; provided, however, that for purposes of this definition, the following acquisitions shall not be taken into account in
determining whether a Change of Control has occurred: (i) any acquisition of voting securities of the Company directly from the Company or (ii) any acquisition by the Company or any of its Subsidiaries of Outstanding Company Voting
Securities, including an acquisition by any employee benefit plan or related trust sponsored or maintained by the Company, or any of its Subsidiaries. 

  
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 (b) The following individuals (the “Incumbent Directors”) cease for any reason
to constitute a majority of the number of directors then serving on the Board: individuals who, on the Effective Date, constitute the Board and any new director (other than a director whose initial assumption of office is in connection with an
actual or threatened election contest, including, but not limited to, a consent or proxy solicitation, relating to the election of directors of the Company by or on behalf of a Person other than the Board) whose appointment or election by the Board
or nomination for election by the Company’s stockholders was approved or recommended by a vote of at least a majority of the directors then still in office who either were directors on the Effective Date or whose appointment, election or
nomination for election was previously so approved or recommended. 
 (c) Consummation of a reorganization, merger, or consolidation to which
the Company is a party or a sale or other disposition of all or substantially all of the assets of the Company (a “Business Combination”), unless, following such Business Combination: (i) any individuals and entities that were
the Beneficial Owners of Outstanding Company Voting Securities immediately prior to such Business Combination are the Beneficial Owners, directly or indirectly, of more than fifty percent (50%) of the combined voting power of the outstanding voting
securities entitled to vote generally in the election of directors (or election of members of a comparable governing body) of the entity resulting from the Business Combination (including, without limitation, an entity which as a result of such
transaction owns all or substantially all of the Company or all or substantially all of the Company’s assets either directly or through one or more Subsidiaries) (the “Successor Entity”) in substantially the same proportions as
their ownership immediately prior to such Business Combination; (ii) no Person (excluding any Successor Entity, any Excluded Person, any person that is the Beneficial Owner, directly or indirectly, of more than thirty percent (30%) of the
combined voting power on the Effective Date or any employee benefit plan or related trust of the Company, such Successor Entity, or any of their Subsidiaries) is the Beneficial Owner, directly or indirectly, of more than thirty percent (30%) of the
combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors (or comparable governing body) of the Successor Entity, except to the extent that such ownership existed prior to the Business
Combination; and (iii) at least a majority of the members of the board of directors (or comparable governing body) of the Successor Entity were Incumbent Directors (including persons deemed to be Incumbent Directors) at the time of the
execution of the initial agreement or of the action of the Board providing for such Business Combination. 
 Notwithstanding the foregoing, to the extent
necessary to comply with Section 409A of the Code with respect to the payment of “nonqualified deferred compensation,” “Change of Control” shall be limited to a “change in control event” as defined under
Section 409A of the Code. 
 13. Forfeiture Events. 

13.1 General. The Committee may specify in an Award Agreement at the time of the Award that the Participant’s rights, payments and
benefits with respect to an Award are subject to reduction, cancellation, forfeiture or recoupment upon the occurrence of certain specified 

  
 14 

 
events, in addition to any otherwise applicable vesting or performance conditions of an Award. Such events may include, without limitation, termination of Service for Cause, violation of material
Company policies, breach of noncompetition, non-solicitation, confidentiality or other restrictive covenants that may apply to the Participant or other conduct by the Participant that is detrimental to the
business or reputation of the Company. 
 13.2 Termination for Cause. 

(a) Treatment of Awards. Unless otherwise provided by the Committee and set forth in an Award Agreement, if (i) a
Participant’s Service with the Company or any Subsidiary shall be terminated for Cause or (ii) after termination of Service for any other reason, the Committee determines in its discretion either that, (1) during the
Participant’s period of Service, the Participant engaged in an act which would have warranted termination of Service for Cause or (2) after termination, the Participant engaged in conduct that violated any continuing obligation or duty of
the Participant in respect of the Company or any Subsidiary, such Participant’s rights, payments and benefits with respect to an Award shall be subject to cancellation, forfeiture and/or recoupment, as provided in Section 13.3 below. The
Company shall have the power to determine whether the Participant has been terminated for Cause, the date upon which such termination for Cause occurs, whether the Participant engaged an act which would have warranted termination of Service for
Cause or engaged in conduct that violated any continuing obligation or duty of the Participant in respect of the Company or any Subsidiary. Any such determination shall be final, conclusive and binding upon all Persons. In addition, if the Company
shall reasonably determine that a Participant has committed or may have committed any act which could constitute the basis for a termination of such Participant’s Service for Cause or violates any continuing obligation or duty of the
Participant in respect of the Company or any Subsidiary, the Company may suspend the Participant’s rights to exercise any Stock Option or Stock Appreciation Right, receive any payment or vest in any right with respect to any Award pending a
determination by the Company of whether an act or omission could constitute the basis for a termination for Cause as provided in this Section 13.2. 

(b) Definition of Cause. Unless otherwise defined in an Award Agreement, “Cause” shall mean: (i) the Participant
has committed a deliberate act against the interests of the Company including, without limitation: an act of fraud, embezzlement, misappropriation or breach of fiduciary duty against the Company, including, but not limited to, the offer, payment,
solicitation or acceptance of any unlawful bribe or kickback with respect to the Company’s business; or (ii) the commission by a Participant of, or the plea of nolo contendere by such Participant with respect to, a felony or a crime
involving moral turpitude; or (iii) the Participant has failed to perform or neglected the material duties incident to his employment or other engagement with the Company on a regular basis, and such refusal or failure shall have continued for
a period of twenty (20) days after written notice to the Participant specifying such refusal or failure in reasonable detail; or (iv) the Participant has been chronically absent from work (excluding vacations, illnesses, Disability or
leaves of absence approved by the Board); or (v) the Participant has refused, after explicit written notice, to obey any lawful resolution of or direction by the Board which is consistent with the duties incident to his employment or other
engagement with the Company and such refusal continues for more than twenty (20) days after written notice is given to the Participant specifying such refusal in reasonable detail; or (vi) the Participant has breached any of the material
terms contained in any employment agreement, non-

  
 15 

 
competition agreement, confidentiality agreement, restrictive covenants agreement or similar type of agreement to which such Participant is a party; or (vii) the Participant’s
misappropriation of the Company’s or any of its Subsidiary’s assets or business opportunities; or (viii) the Participant has engaged in (x) the unlawful use (including being under the influence) or possession of illegal drugs on
the Company’s premises or (y) habitual drunkenness on the Company’s premises; or (ix) the Participant’s breach of any material Company policy. 

Any voluntary termination of Service by the Participant in anticipation of an involuntary termination of the Participant’s Service for
Cause shall be deemed to be a termination for “Cause.” Notwithstanding the foregoing, in the event that a Participant is party to an employment, severance or similar agreement with the Company or any of its affiliates and such agreement
contains a definition of “Cause,” the definition of “Cause” set forth above shall be deemed replaced and superseded, with respect to such Participant, by the definition of “Cause” used in such employment, severance or
similar agreement. 
 13.3 Right of Recapture. 

(a) General. If at any time within one (1) year (or such longer time specified in an Award Agreement or other agreement with a
Participant or policy applicable to the Participant) after the date on which a Participant exercises a Stock Option or Stock Appreciation Right or on which a Stock Award, Restricted Stock Award or Restricted Stock Unit vests or becomes payable or on
which a Cash Incentive Award is paid to a Participant, or on which income otherwise is realized by a Participant in connection with an Award, (i) a Participant’s Service is terminated for Cause, (ii) the Committee determines in its
discretion that the Participant is subject to any recoupment of benefits pursuant to the Company’s compensation recovery, “clawback” or similar policy, as may be in effect from time to time, or (iii) after a Participant’s
Service terminates for any other reason, the Committee determines in its discretion either that, (1) during the Participant’s period of Service, the Participant engaged in an act or omission which would have warranted termination of the
Participant’s Service for Cause or (2) after a Participant’s termination of Service, the Participant engaged in conduct that materially violated any continuing obligation or duty of the Participant in respect of the Company or any
Subsidiary, then, at the sole discretion of the Committee, any gain realized by the Participant from the exercise, vesting, payment or other realization of income by the Participant in connection with an Award, shall be paid by the Participant to
the Company upon notice from the Company, subject to applicable law. Such gain shall be determined as of the date or dates on which the gain is realized by the Participant, without regard to any subsequent change in the Fair Market Value of a share
of Common Stock. To the extent not otherwise prohibited by law, the Company shall have the right to offset such gain against any amounts otherwise owed to the Participant by the Company (whether as wages, vacation pay or pursuant to any benefit plan
or other compensatory arrangement). 
 (b) Accounting Restatement. If a Participant receives compensation pursuant to an Award under
the Plan (whether a Stock Option, Cash Incentive Award or otherwise) based on financial statements that are subsequently required to be restated in a way that would decrease the value of such compensation, the Participant will, to the extent not
otherwise prohibited by law, upon the written request of the Company, forfeit and repay to the Company the difference between what the Participant received and what the Participant should have received based on the accounting restatement, in
accordance with (i) the Company’s compensation recovery, “clawback” or 

  
 16 

 
similar policy, as may be in effect from time to time and (ii) any compensation recovery, “clawback” or similar policy made applicable by law including the provisions of
Section 945 of the Dodd-Frank Wall Street Reform and Consumer Protection Act and the rules, regulations and requirements adopted thereunder by the Securities and Exchange Commission and/or any national securities exchange on which the
Company’s equity securities may be listed (the “Policy”). By accepting an Award hereunder, the Participant acknowledges and agrees that the Policy, whenever adopted, shall apply to such Award, and all incentive-based
compensation payable pursuant to such Award shall be subject to forfeiture and repayment pursuant to the terms of the Policy. 
 14.
Transfer, Leave of Absence, Etc. For purposes of the Plan, except as otherwise determined by the Committee, the following events shall not be deemed a termination of Service: (a) a transfer to the employment of the Company from a
Subsidiary or from the Company to a Subsidiary, or from one Subsidiary to another; or (b) an approved leave of absence for military service or sickness, a leave of absence where the employee’s right to
re-employment is guaranteed either by a statute or by contract or under the policy pursuant to which the leave of absence was granted, a leave of absence for any other purpose approved by the Company or if the
Committee otherwise so provides in writing. 
 15. General Provisions. 

15.1 Status of Plan. The Committee may authorize the creation of trusts or other arrangements to meet the Company’s obligations to
deliver shares of Common Stock or make payments with respect to Awards. 
 15.2 Award Agreement. An Award under the Plan shall be
evidenced by an Award Agreement in a written or electronic form approved by the Committee setting forth the number of shares of Common Stock or Restricted Stock Units subject to the Award, the exercise price, base price or purchase price of the
Award, the time or times at which an Award will become vested, exercisable or payable and the term of the Award. The Award Agreement also may set forth the effect on an Award of a Change of Control and/or a termination of Service under certain
circumstances. The Award Agreement shall be subject to and incorporate, by reference or otherwise, all of the applicable terms and conditions of the Plan, and also may set forth other terms and conditions applicable to the Award as determined by the
Committee consistent with the limitations of the Plan. The grant of an Award under the Plan shall not confer any rights upon the Participant holding such Award other than such terms, and subject to such conditions, as are specified in the Plan as
being applicable to such type of Award (or to all Awards) or as are expressly set forth in the Award Agreement. The Committee need not require the execution of an Award Agreement by a Participant, in which case, acceptance of the Award by the
Participant shall constitute agreement by the Participant to the terms, conditions, restrictions and limitations set forth in the Plan and the Award Agreement as well as the administrative guidelines of the Company in effect from time to time. In
the event of any conflict between the provisions of the Plan and any Award Agreement, the provisions of the Plan shall prevail. 

  
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 15.3 No Assignment or Transfer; Beneficiaries. Except as provided in Section 6.6
hereof or as otherwise determined by the Committee, Awards under the Plan shall not be assignable or transferable by the Participant, and shall not be subject in any manner to assignment, alienation, pledge, encumbrance or charge. Notwithstanding
the foregoing, in the event of the death of a Participant, except as otherwise provided by the Committee in an Award Agreement, an outstanding Award may be exercised by or shall become payable to the Participant’s beneficiary as determined
under the Company 401(k) retirement plan or other applicable retirement or pension plan (the “Retirement Plan”). In lieu of such determination, a Participant may, from time to time, name any beneficiary or beneficiaries to receive
any benefit in case of the Participant’s death before the Participant receives any or all of such benefit. Each such designation shall revoke all prior designations by the same Participant and will be effective only when filed by the
Participant in writing (in such form or manner as may be prescribed by the Committee) with the Company during the Participant’s lifetime. In the absence of a valid designation under the Retirement Plan or as provided above, if no validly
designated beneficiary survives the Participant or if each surviving validly designated beneficiary is legally impaired or prohibited from receiving the benefits under an Award, the Participant’s beneficiary shall be the legatee or legatees of
such Award designated under the Participant’s last will or by such Participant’s executors, personal representatives or distributees of such Award in accordance with the Participant’s will or the laws of descent and distribution. The
Committee may provide in the terms of an Award Agreement or in any other manner prescribed by the Committee that the Participant shall have the right to designate a beneficiary or beneficiaries who shall be entitled to any rights, payments or other
benefits specified under an Award following the Participant’s death. 
 15.4 Deferrals of Payment. The Committee may in its
discretion permit a Participant to defer the receipt of payment of cash or delivery of shares of Common Stock that would otherwise be due to the Participant by virtue of the exercise of a right or the satisfaction of vesting or other conditions with
respect to an Award; provided, however, that such discretion shall not apply in the case of a Stock Option or Stock Appreciation Right that is intended to satisfy the requirements of Treasury Regulations
Section 1.409A-1(b)(5)(i)(A) or (B). If any such deferral is to be permitted by the Committee, the Committee shall establish rules and procedures relating to such deferral in a manner intended to comply
with the requirements of Section 409A of the Code, including, without limitation, the time when an election to defer may be made, the time period of the deferral and the events that would result in payment of the deferred amount, the interest
or other earnings attributable to the deferral and the method of funding, if any, attributable to the deferred amount. 
 15.5 No Right to
Employment or Continued Service. Nothing in the Plan, in the grant of any Award or in any Award Agreement shall confer upon any Eligible Person or any Participant any right to continue in the Service of the Company or any of its Subsidiaries or
interfere in any way with the right of the Company or any of its Subsidiaries to terminate the employment or other service relationship of an Eligible Person or a Participant for any reason or no reason at any time. 

15.6 Rights as Stockholder. A Participant shall have no rights as a holder of shares of Common Stock with respect to any unissued
securities covered by an Award until the date the Participant becomes the holder of record of such securities. Except as provided in Section 4.5 hereof, no adjustment or other provision shall be made for dividends or other stockholder rights,
except to the extent that the Award Agreement provides for dividend payments or dividend equivalent rights. The Committee may determine in its discretion the manner of delivery of 

  
 18 

 
Common Stock to be issued under the Plan, which may be by delivery of stock certificates, electronic account entry into new or existing accounts or any other means as the Committee, in its
discretion, deems appropriate. The Committee may require that the stock certificates (if any) be held in escrow by the Company for any shares of Common Stock or cause the shares to be legended in order to comply with the securities laws or other
applicable restrictions or should the shares of Common Stock be represented by book or electronic account entry rather than a certificate, the Committee may take such steps to restrict transfer of the shares of Common Stock as the Committee
considers necessary or advisable. 
 15.7 Trading Policy and Other Restrictions. Transactions involving Awards under the Plan shall be
subject to the Company’s Insider Trading and Regulation FD Policy and other restrictions, terms and conditions, to the extent established by the Committee or by applicable law, including any other applicable policies set by the Committee, from
time to time. 
 15.8 Section 409A Compliance. To the extent applicable, it is intended that the Plan and all
Awards hereunder comply with, or be exempt from, the requirements of Section 409A of the Code and the Treasury Regulations and other guidance issued thereunder, and that the Plan and all Award Agreements shall be interpreted and applied by the
Committee in a manner consistent with this intent in order to avoid the imposition of any additional tax under Section 409A of the Code. In the event that any (i) provision of the Plan or an Award Agreement, (ii) Award, payment,
transaction or (iii) other action or arrangement contemplated by the provisions of the Plan is determined by the Committee to not comply with the applicable requirements of Section 409A of the Code and the Treasury Regulations and other
guidance issued thereunder, the Committee shall have the authority to take such actions and to make such changes to the Plan or an Award Agreement as the Committee deems necessary to comply with such requirements; provided, however,
that no such action shall adversely affect any outstanding Award without the consent of the affected Participant. No payment that constitutes deferred compensation under Section 409A of the Code that would otherwise be made under the Plan or an
Award Agreement upon a termination of Service will be made or provided unless and until such termination is also a “separation from service,” as determined in accordance with Section 409A of the Code. Notwithstanding the foregoing or
anything elsewhere in the Plan or an Award Agreement to the contrary, if a Participant is a “specified employee” as defined in Section 409A of the Code at the time of termination of Service with respect to an Award, then solely to the
extent necessary to avoid the imposition of any additional tax under Section 409A of the Code, the commencement of any payments or benefits under the Award shall be deferred until the date that is six (6) months plus one (1) day
following the date of the Participant’s termination of Service or, if earlier, the Participant’s death (or such other period as required to comply with Section 409A). In no event whatsoever shall the Company be liable for any
additional tax, interest or penalties that may be imposed on a Participant by Section 409A of the Code or any damages for failing to comply with Section 409A of the Code. 

15.9 Securities Law Compliance. No shares of Common Stock will be issued or transferred pursuant to an Award unless and until all then
applicable requirements imposed by Federal and state securities and other laws, rules and regulations and by any regulatory agencies having jurisdiction, and by any exchanges upon which the shares of Common Stock may be listed, have been fully met.
As a condition precedent to the issuance of shares of Common Stock pursuant to the grant or exercise of an Award, the Company may require the Participant to take 

  
 19 

 
any reasonable action that the Company determines is necessary or advisable to meet such requirements. The Committee may impose such conditions on any shares of Common Stock issuable under the
Plan as it may deem advisable, including, without limitation, restrictions under the Securities Act under the requirements of any exchange upon which such shares of the same class are then listed, and under any blue sky or other securities laws
applicable to such shares. The Committee may also require the Participant to represent and warrant at the time of issuance or transfer that the shares of Common Stock are being acquired solely for investment purposes and without any current
intention to sell or distribute such shares. 
 15.10 Substitute Awards in Corporate Transactions. Nothing contained in the Plan shall
be construed to limit the right of the Committee to grant Awards under the Plan in connection with the acquisition, whether by purchase, merger, consolidation or other corporate transaction, of the business or assets of any corporation or other
entity. Without limiting the foregoing, the Committee may grant Awards under the Plan to an employee or director of another corporation who becomes an Eligible Person by reason of any such corporate transaction in substitution for awards previously
granted by such corporation or entity to such person. The terms and conditions of the substitute Awards may vary from the terms and conditions that would otherwise be required by the Plan solely to the extent the Committee deems necessary for such
purpose. Any such substitute awards shall not reduce the Share Reserve; provided, however, that such treatment is permitted by applicable law and the listing requirements of the New York Stock Exchange or other exchange or securities
market on which the Common Stock is listed. 
 15.11 Tax Withholding. The Participant shall be responsible for payment of any taxes or
similar charges required by law to be paid or withheld from an Award or an amount paid in satisfaction of an Award. Any required withholdings shall be paid by the Participant on or prior to the payment or other event that results in taxable income
in respect of an Award. The Award Agreement may specify the manner in which the withholding obligation shall be satisfied with respect to the particular type of Award, which may include permitting the Participant to elect to satisfy the withholding
obligation by tendering shares of Common Stock to the Company or having the Company withhold a number of shares of Common Stock having a value equal to the minimum statutory tax or as otherwise specified in an Award Agreement, or similar charge
required to be paid or withheld. The Company shall have the power and the right to require a Participant to remit to the Company the amount necessary to satisfy federal, state, provincial and local taxes, domestic or foreign, required by law or
regulation to be withheld, and to deduct or withhold from any shares of Common Stock deliverable under an Award to satisfy such withholding obligation. The Award Agreement may specify the manner in which the withholding obligation shall be satisfied
with respect to the particular type of Award. The Award Agreement may specify the amount necessary to satisfy the a Participant’s tax liability up to the maximum expected tax liability, provided that such withholding does not result in adverse
tax or accounting consequences to the Company. The Award Agreement may specify that the Participant has the right to elect to satisfy the tax withholding obligation by tendering shares of Common Stock to the Company or having the Company withhold a
number of shares of Common Stock having a value equal to the withholding obligation specified in an Award Agreement. 

  
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 15.12 Unfunded Plan. The adoption of the Plan and any reservation of shares of Common
Stock or cash amounts by the Company to discharge its obligations hereunder shall not be deemed to create a trust or other funded arrangement. Except upon the issuance of shares of Common Stock pursuant to an Award, any rights of a Participant under
the Plan shall be those of a general unsecured creditor of the Company, and neither a Participant nor the Participant’s permitted transferees or estate shall have any other interest in any assets of the Company by virtue of the Plan.
Notwithstanding the foregoing, the Company shall have the right to implement or set aside funds in a grantor trust, subject to the claims of the Company’s creditors or otherwise, to discharge its obligations under the Plan. 

15.13 Other Compensation and Benefit Plans. The adoption of the Plan shall not affect any other share incentive or other compensation
plans in effect for the Company or any Subsidiary, nor shall the Plan preclude the Company from establishing any other forms of share incentive or other compensation or benefit program for employees of the Company or any Subsidiary. The amount of
any compensation deemed to be received by a Participant pursuant to an Award shall not constitute includable compensation for purposes of determining the amount of benefits to which a Participant is entitled under any other compensation or benefit
plan or program of the Company or a Subsidiary, including, without limitation, under any pension or severance benefits plan, except to the extent specifically provided by the terms of any such plan. 

15.14 Plan Binding on Transferees. The Plan shall be binding upon the Company, its transferees and assigns, and the Participant, the
Participant’s executor, administrator and permitted transferees and beneficiaries. 
 15.15 Severability. If any provision of the
Plan or any Award Agreement shall be determined to be illegal or unenforceable by any court of law in any jurisdiction, the remaining provisions hereof and thereof shall be severable and enforceable in accordance with their terms, and all provisions
shall remain enforceable in any other jurisdiction. 
 15.16 Governing Law; Jurisdiction. The Plan and all rights hereunder shall be
governed by and interpreted in accordance with the laws of the State of Delaware, without reference to the principles of conflicts of laws, and to applicable federal laws. 

15.17 No Fractional Shares. No fractional shares of Common Stock shall be issued or delivered pursuant to the Plan or any Award, and the
Committee shall determine whether cash, other securities or other property shall be paid or transferred in lieu of any fractional shares of Common Stock or whether such fractional shares or any rights thereto shall be canceled, terminated or
otherwise eliminated. 
 15.18 No Guarantees Regarding Tax Treatment. Neither the Company nor the Committee make any guarantees to any
person regarding the tax treatment of Awards or payments made under the Plan. Neither the Company nor the Committee has any obligation to take any action to prevent the assessment of any tax on any person with respect to any Award under
Section 409A of the Code, Section 4999 of the Code or otherwise and neither the Company nor the Committee shall have any liability to a person with respect thereto. 

15.19 Data Protection. By participating in the Plan, each Participant consents to the collection, processing, transmission and storage
by the Company, its Subsidiaries and any third party administrators of any data of a professional or personal nature for the purposes of administering the Plan. 

  
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 15.20 Awards to Non-U.S. Participants. To comply
with the laws in countries other than the United States in which the Company or any of its Subsidiaries or affiliates operates or has employees, Non-Employee Directors or consultants, the Committee, in its
sole discretion, shall have the power and authority to (i) modify the terms and conditions of any Award granted to Participants outside the United States to comply with applicable foreign laws, (ii) take any action, before or after an
Award is made, that it deems advisable to obtain approval or comply with any necessary local government regulatory exemptions or approvals and (iii) establish subplans and modify exercise procedures and other terms and procedures, to the extent
such actions may be necessary or advisable. Any subplans and modifications to Plan terms and procedures established under this Section 15.20 by the Committee shall be attached to this Plan document as appendices. 

16. Term; Amendment and Termination; Stockholder Approval. 

16.1 Term. The Plan shall be effective as of the date of its approval by the stockholders of the Company (the “Effective
Date”). Subject to Section 16.2 hereof, the Plan shall terminate on the tenth anniversary of the Effective Date. 
 16.2
Amendment and Termination. The Board may from time to time and in any respect, amend, modify, suspend or terminate the Plan; provided, however, that no amendment, modification, suspension or termination of the Plan shall
materially and adversely affect any Award theretofore granted without the consent of the Participant or the permitted transferee of the Award. The Board may seek the approval of any amendment, modification, suspension or termination by the
Company’s stockholders to the extent it deems necessary in its discretion for purposes of compliance with Section 422 of the Code or for any other purpose, and shall seek such approval to the extent it deems necessary in its discretion to
comply with applicable law or listing requirements of the New York Stock Exchange or other exchange or securities market. Notwithstanding the foregoing, the Board shall have broad authority to amend the Plan or any Award under the Plan without the
consent of a Participant to the extent it deems necessary or desirable in its discretion to comply with, take into account changes in, or interpretations of, applicable tax laws, securities laws, employment laws, accounting rules and other
applicable laws, rules and regulations. 

  
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