Document:

EX-10.1

 Exhibit 10.1 

Translation from the French for information purpose only 
  

 
 EUROPEAN FACTORING AGREEMENT 

EUROPEAN PASS 
 Eurofactor 

Mailing address: 12, place des Etats-Unis, CS 20001, 92548 Montrouge cedex, France 

Registered office: 12, place des Etats-Unis, 92120 Montrouge 

Tel.: +33 (0)1 43 23 70 00 – www.eurofactor.fr 

Eurofactor – Finance company authorized by the French Prudential Control Authority (Autorité de Contrôle Prudentiel),
société anonyme with share capital of EUR 110,606,820 Euros – Nanterre Trade and Companies Register no. 338 871 259 

Siret no. 333 871 259 00268 – EU intra-community VAT no. FR 34 333 871 259 – APE 6492Z 

 Translation from the French for information purpose only 

 
 THIS FACTORING AGREEMENT has been executed by and between the
FOLLOWING PARTIES: 
 1. EUROFACTOR, company organized under French law, having its registered office at 12, place des Etats-Unis, 92120 Montrouge,
France, incorporated with the Nanterre Trade and Companies Register under the number 333 871 259, whose representative has received due authorization for the purpose of this Agreement (“Eurofactor”); 

2. NA PALI, company organized under French law, having its registered office at 162 RUE BELHARRA, 64500 SAINT-JEAN DE LUZ, incorporated with the BAYONNE Trade
and Companies Register under the number 331 377 036, whose representative has received due authorization for the purpose of this Agreement (the “CMI”); and 

3. EMERALD COAST, company organized under French law, having its registered office at 163 RUE BELHARRA, 64500 SAINT-JEAN DE LUZ, incorporated with the BAYONNE
Trade and Companies Register under the number 412 730 848, whose representative has received due authorization for the purpose of this Agreement (the “French Client”); and 

4. KAUAI, company organized under German law, having its registered office at FRANKFURTER RING 162, 80807 MUNICH, incorporated with the Munich Trade and
Companies Register under the number DE-811592855, whose representative has received due authorization for the purpose of this Agreement (the “German Client”); and 

5. LANAI, company organized under English law, having its registered office at Z BLOCK UNIT 2003, 2nd
FLOOR, THE OLD TRUMAN BREWERY BRICK LANE, LONDON E1 6QL, incorporated with Companies House London under the number GB-691066035, whose representative has received due authorization for the purpose of this Agreement (the “English Client”);
and 
 6. SUMBAWA, company organized under Spanish law, having its registered office at 4 PLAZA EMILI MIRA, 08022 BARCELONA , incorporated with the
Barcelona Trade and Companies Register under the number ES-B61298212, whose representative has received due authorization for the purpose of this Agreement (the “Spanish Client”), 

designated individually as the “CLIENT” and collectively as the “CLIENTS.” 

designated hereinafter collectively as the “Parties” or individually as a “Party.” 

  
 2 

 Translation from the French for information purpose only 

 
 Table of Contents 

 

					
		  	 Introduction
	  	
			
	 1.
	  	 Interpretation and Introductory Remarks
	  	
			
	 2.
	  	 Designation of the CMI as Agent
	  	
			
	 3.
	  	 Third Party Service Provider
	  	
			
	 4.
	  	 Assignment of Receivables
	  	
			
	 5.
	  	 Exclusions
	  	
			
	 6.
	  	 Delivery of Receivables
	  	
			
	 7.
	  	 Approval of Receivables
	  	
			
	 8.
	  	 Third Party Credit Insurance
	  	
			
	 9.
	  	 Current Account
	  	
			
	 10.
	  	 Financing
	  	
			
	 11.
	  	 Financing Limits
	  	
			
	 12.
	  	 Disputes – Debit from the Current Account
	  	
			
	 13.
	  	 Credit Notes
	  	
			
	 14.
	  	 Guarantee Account
	  	
			
	 15.
	  	 Reserve Fund and Accounts
	  	
			
	 16.
	  	 Recovery of Assigned Receivables
	  	
			
	 17.
	  	 Remuneration
	  	
			
	 18.
	  	 Representations and Warranties, Liability and Indemnities
	  	
			
	 19.
	  	 Communication
	  	
			
	 20.
	  	 Audits
	  	
			
	 21.
	  	 Event of Default
	  	
			
	 22.
	  	 Term - Termination
	  	
			
	 23.
	  	 Miscellaneous Provisions
	  	
			
	 24.
	  	 Confidentiality
	  	
			
	 25.
	  	 Costs and Expenses
	  	
			
	 26.
	  	 Signature
	  	
			
	 27.
	  	 Applicable Law and Jurisdiction
	  	

  

			
	Annex 1	  	Assignment Method Applicable to the Assigned Receivables
		
	Annex 2	  	Definitions
		
	Annex 3	  	Specific Terms and Conditions
		
	Annex 4	  	EOL General Terms and Conditions of Usage

  
 3 

 Translation from the French for information purpose only 

 
 INTRODUCTION 

Eurofactor is a financial establishment having as its corporate purpose the purchasing, management and financing of Receivables. 

The Clients make up a group of companies whose principal business activity consists of trading in sports articles and clothing. 

Eurofactor is providing the Clients, including NA PALI (331 377 036), acting in its own name and on its own behalf and also in the capacity of agent, in the
name and on behalf of each of the Clients (the Center of Main Interest, hereinafter, the “CMI”), with services that may include guaranteeing against their Debtors’ risk of insolvency and the financing, recovery and collection
of their Receivables. 
 As a consequence, the Clients will assign to Eurofactor all of their commercial Receivables, fulfilling the conditions set out
below. The Assignment of these Receivables will be carried out in accordance with the legal rules applicable to said Receivables. 
 THE
FOLLOWING HAS BEEN AGREED: 
  

	1.	INTERPRETATION AND INTRODUCTORY REMARKS 

 1.1 Contractual documents  

The European factoring agreement (the “Agreement”) is comprised of these general terms and conditions and of the annexes. 

1.2 Divergence 
 In the event of any divergence
between the provisions contained in the annexes, on the one hand, and the provisions of the Agreement, on the other hand, the annexes will take precedence. 

1.3 Definitions 
 Unless otherwise stipulated, all
terms used in the Agreement have the meanings defined in Annex 2. 
 1.4 Exclusivity 

The Agreement sets out, in an exclusive manner, all of the provisions agreed by and between the Parties; the Agreement replaces any previous accord, treaty or
agreement relating to the financing by Eurofactor of the Clients’ commercial Receivables. 

  
 4 

 Translation from the French for information purpose only 

 
  

	2.	DESIGNATION OF THE CMI AS AGENT 

 2.1 Each Client hereby appoints NA PALI (331 377 036) as agent,
designated the CMI, tasked with the performance of all rights and obligations generated by the Agreement. 
 The CMI hereby accepts the assignment entrusted
to it and makes an undertaking to perform the assignment as a prudent, diligent and informed agent. 
 Each Client and the CMI hereby undertake to provide
to Eurofactor all of the documents necessary for such appointment to be effective. 
 Pursuant to this authorization, Eurofactor will be released from all
of its obligations with respect to each Client if it has performed such obligations with regard to the CMI. The provisions of the Agreement will be interpreted accordingly. 

2.2 Except where a different interpretation is required by the context, the CMI is considered to be acting both in its own name and in the name of each
Client. 
 2.3 The Clients and the CMI will be responsible for the execution of all contracts necessary for the execution of the Agreement. 

 

	3.	THIRD PARTY SERVICE PROVIDER 

 3.1 For the needs of the Agreement, Eurofactor has the right to
appoint one or several third parties (the “Service Providers”) in order to perform, on behalf of Eurofactor, certain of its obligations pursuant to the Agreement, it being stipulated that Eurofactor still retains liability with
regard to the Client or the CMI, as applicable. Each Client hereby accepts the appointment of the following companies in the capacity of Service Providers: 

(a) any company in the Eurofactor Group, and 
 (b)
any company in the IFG Group and/or FCI Group. 
 3.2 Each Client may be assisted or represented by one or several third parties for the
performance of certain of the transactions set out in the Agreement incumbent upon such Client, subject to: 
 (a) such Client remaining at all times
liable with regard to Eurofactor for the proper performance of these transactions; 
 (b) the third party in question making an undertaking directly
to Eurofactor to comply with all of the obligations of this Client pursuant to the Agreement; and 
 (c) Eurofactor having given the relevant Client
its prior written agreement to such appointment. 
  

	4.	ASSIGNMENT OF RECEIVABLES 

 4.1 Each Client or, as applicable, the CMI makes an undertaking to
Assign to Eurofactor all of its Receivables generated starting from the Effective Date and continuing throughout the term of the Agreement, in accordance with the terms and conditions set out in the Agreement. 

  
 5 

 Translation from the French for information purpose only 

 
 Throughout the entire term of the Agreement, the Clients agree not to enforce their
Receivables, in any form whatsoever, via any third party. 
 4.2 The Parties agree that each Assignment of Receivables will be carried out, as stated
in annex 1, in accordance with the provisions defined by the law governing the Receivables in question, in accordance with methods approved by Eurofactor. 

4.3 The assignment of each Receivable includes all of the Charges and Related Rights related to such Receivable. 

4.4 The Purchase Price of a Receivable is equal to its nominal value (inclusive of VAT). It is payable as stated at Article 9.2 of the general terms
and conditions. 
 4.5 Eurofactor is not bound by any of the rights and obligations generated by the Deed of Sale and will not incur any liability on
the grounds of the total or partial non-performance, or the poor performance, of such agreement. 
 4.6 Via a separate deed, Eurofactor will forward
to the relevant Clients and/or the CMI, as applicable, the elements relating to the Assignment of Receivables, i.e., as applicable: 
  

	•	 	The template deed of Assignment of Receivables in favor of Eurofactor; 

  

	•	 	The assignment reference that must be featured on invoices by the Client or the CMI, as applicable; 

  

	•	 	The template notification to be addressed by the Client or the CMI, as applicable, to Debtors. 

  

	5.	EXCLUSIONS 

 5.1 The scope of application of the Agreement excludes Receivables:  

(a) that represent Intermediary Invoicing; or 
 (b)
where the Debtor in question is a private individual; or 
 (c) that relate to services or supplies provided by a subcontractor; or 

(d) that have been issued to Debtors of the Client that are also its suppliers; or 

(e) where the Debtor (i) has transferred its registered office or principal establishment outside of an Agreed Debtor Country or (ii) is not
incorporated pursuant to the law of an Agreed Debtor Country; or 
 (f) for which the Debtor in question fails to meet the expected worthiness
criteria or if its country of residence happens to be experiencing circumstances, notably political or economic circumstances, contrary to established norms of financial security; or 

(g) that are owed by a Debtor that is an Affiliated Company of a Client or that has financial links or shareholders in common with the Client or that
takes part in either its operation or management, or if these are Receivables that Eurofactor considers to constitute an intra-company account or an internal account; or 

  
 6 

 Translation from the French for information purpose only 

 
 (h) that represent a provision of funds or consignment, an advance invoice, a
conditional sale, a sale with option to return, a sale on a trial basis, a consignment sale or any other basis for repurchase or return; or 
 (i)
for which cash constitutes the anticipated means of payment. 
 Compliance with these exclusions is incumbent upon the Client or the CMI, as applicable.

 5.2 Eurofactor is not obliged to purchase the Receivables of a Client if, at the time of the proposed Delivery:  

(a) one of the declarations made or guarantees given by each of the Clients and the CMI referred to at Article 18 of the general terms and conditions
is null and void and/or inaccurate; 
 (b) an event of default referred to at Article 21 of the general terms and conditions has occurred. 

 

	6.	DELIVERY OF RECEIVABLES 

 6.1 Each Client or the CMI, as applicable, must send each Receivable to
Eurofactor, immediately upon issuance, accompanied by the documents and supporting evidence defined in the specific terms and conditions. 
 It is
compulsory for any Receivable for an amount in excess of 150,000 Euros to be accompanied by a purchase order and proof of delivery or of the service provided. 

6.2 If a Client or the CMI, as applicable, is not able to forward the documents and supporting evidence described in the specific terms and conditions
in relation to a Receivable, such Client, or the CMI, as applicable, must deliver this Receivable to Eurofactor separately from all of the other Receivables included in the Delivery in question and must clearly stipulate this in said Delivery. 

6.3 Other than the obligations arising from the Agreement, each Client or the CMI, as applicable, by including a Receivable in a Delivery, guarantees
to Eurofactor that: 
 (a) All of the elements contained in a Delivery are correct and complete; 

(b) The Receivable, governed by the law of the Client country, corresponds to a Deed of Sale that is genuine and fully executed, whose price and
payment conditions are in line with the provisions of the Deed of Sale, that must be executed in the context of the Client’s usual line of business; 

(c) The invoices have been made out in accordance with the legislation in force and, in particular, feature the method of payment and the date due;

 (d) The Receivable is payable in the Client country and that the Client has no obligation toward the Debtor or any third party whatsoever liable
to reduce the value of the Receivable or to effect its payment to Eurofactor; 
 (e) The payment terms and conditions have not been modified after
delivery and/or performance of the services rendered; 
 (f) The Receivable can be freely assigned to Eurofactor, free of any third party rights or
charges, and, more generally, that no legal or contractual rule acts as an obstacle to the transfer of said Receivable; 
 (g) The Client or the CMI,
as applicable, will provide Eurofactor with full information concerning the Debtors, including any changes in their status, address or solvability, as well as with the supporting evidence for any order and of the fulfillment of any Deed of Sale that
Eurofactor may request from them. 

  
 7 

 Translation from the French for information purpose only 

 
  

	7.	APPROVAL OF RECEIVABLES 

 7.1 Scope - Definition 

Prior to the delivery of the Receivables, the Debtors must receive approval, granted in the form of a credit limit set by Eurofactor. 

So long as the Receivable is not contested and subject to respect by the Client for the obligations placed upon it by the Agreement, Eurofactor, within the
limit of the approvals in force, then bears responsibility for the Receivables in the event of non-payment linked exclusively to Debtor insolvency. This insolvency is recognized by the opening of a safeguard proceeding (procédure de
sauvegarde), judicial reorganization proceeding (procédure de redressement judiciaire) or judicial liquidation proceeding (procédure de liquidation judiciaire), or of any equivalent procedure for foreign Debtors. 

Except where agreed otherwise, requests for approval must be made via computerized exchanges as described in Annex 4. Any reply to a request for approval
obtained via computerized exchange is confirmed by all appropriate means. 
 The crediting of Receivables to the Current Account does not entail their
approval. Non-approved Receivables can, at any time, be the subject of a debit from the Current Account. 
 Eurofactor may require certain commercial
transactions to be the subject of a request for approval prior to their performance. 
 A request for approval must in any case be sought in advance where
the Client agrees, before or after the placing of the order, to specific terms and conditions regarding payment or delivery. 
 The amount of the facility
approved, that may be granted for a limited term in favor of a Debtor, is built up on an on-going basis as Receivables are effectively paid off. 
 When the
approved Receivables payment default is due to any cause other than the Debtor’s insolvency, Eurofactor then disposes at all times of a right of recourse against the Client for those receivables still unpaid, in full or in part, and can
therefore demand the immediate repayment of the Receivables through a debit from the Current Account. 
 If the approved Receivable is challenged by the
Debtor or a third party, Eurofactor may launch a judicial proceeding; the Receivable is placed in the Reserve Fund, Eurofactor remaining the owner thereof up until recognition of its rights by a final court ruling. The transfer to the Reserve Fund
is then cancelled in direct proportion to amounts corresponding to the aforementioned decision. 
 All expenses and fees generated by the judicial
proceedings are borne by Eurofactor for approved Receivables. For non-approved Receivables, they are borne by the Client or the CMI, as applicable; this is also the case for any Receivables initially approved if their non-payment then turns out not
to be due to the Debtor’s insolvency. 

  
 8 

 Translation from the French for information purpose only 

 
 7.2 Progression 

The credit limit can be modified or revoked without notice and at that point ceases to be reconstitutable by nature. This also occurs when termination of the
Agreement comes into force. The reduction or revocation of the credit limit is however only effective for those Receivables transferred subsequently. 
 In
the event of any dispute on the approval value, the Client must produce any document issued by Eurofactor certifying the existence of the approval in support for its claim. 

The non-provision or inaccurate nature of the information given by the Client when making the request for approval leads to the credit limit being
retroactively null and void. 
 Each Client or the CMI, as applicable, agrees to disclose to Eurofactor, throughout the entire term of the Agreement, any
events relating to a Debtor and/or a Deed of Sale liable to have an impact upon the credit limit. 
 7.3 Exceptions 

As an exception to Article 7.1, para. 2, of the general terms and conditions, the Client remains the joint and several guarantor of payment for receivables
transferred in the cases listed below: 
 a) Absence of approval or amount in excess of the approval amount, within the limits of the excess recorded
as of the date of default by the Debtor or, if earlier, as of the date of revocation of the approval; 
 b) Non-payment at term of an approved
receivable based on an exception generated by its relationship with the Debtor or with third parties, or difference with the amount received resulting in particular from foreign exchange losses; 

c) Receivables outside of the scope of application of the Agreement or for which the Client enjoys another guarantee, granted by a credit-insurance
company or a credit establishment authorized to carry out business in France; 
 d) Excess amounts stipulated in the specific terms and conditions,
in direct proportion thereto; 
 e) Breach by the Client of its contractual obligations. 

7.4 Exclusions 
 Any Assigned Receivables due from a
Debtor undergoing court-ordered reorganization or liquidation, or a Debtor that is the subject of an approved conciliation or safeguard proceeding, prior to the assignment, are excluded from the approval. This is also the case for Receivables
relating to foreign Debtors that are the subject of equivalent proceedings. 
 Any unpaid Receivables generated by the court-acknowledged insolvency of a
Debtor resulting directly or indirectly from an event that is exterior, unforeseeable and compelling, as used to characterize force majeure events, are also excluded from the guarantee. 

  
 9 

 Translation from the French for information purpose only 

 
 7.5 Confidentiality 

Except where advance written approval has been obtained from Eurofactor, the Clients or the CMI, as applicable, are prohibited from disclosing to a Debtor or
to any person or entity whatsoever any information provided in the context of the credit limit issuance. 
  

	8.	THIRD PARTY CREDIT INSURANCE 

 8.1 Each Client or the CMI, as applicable, irrevocably authorizes
Eurofactor to take out a credit insurance policy in the name of the Client in question or the CMI, as applicable, at any time, with Eurofactor being designated as beneficiary thereunder. Each Client or the CMI, as applicable, will make all
declarations and complete all measures necessary thereto. 
 8.2 If the Client has taken out a credit insurance policy, then, simultaneously with the
execution of the Agreement, the Client assigns all of its current and future rights under the policy to Eurofactor, in accordance with the applicable legal provisions. 

Each Client undertakes to ensure that credit insurance policies are taken out with insurance companies of good standing only. 

8.3 As an exception to Article 7 of the general terms and conditions, Eurofactor is not responsible for guaranteeing Receivables transferred by each
Client due to the existence of the credit insurance policy. As a consequence, Article 7, as well as the part of the sentence in the Introduction that reads “services that may include guaranteeing against their Debtors’ risk of
insolvency” are non-applicable and are therefore suspended. 
 Eurofactor restates in its accounts the credit limits as delivered by the credit
insurance company without however this leading to any guarantee on the part of Eurofactor. 
 8.4 For each of the Debtors, the Client or credit
insurance company immediately sends the prior authorization to Eurofactor and informs Eurofactor immediately of any modification or revocation relating to said authorizations. 

The Client authorizes Eurofactor to carry out checks on transactions linked to the credit insurance policy, including the representations stipulated in said
policy. 
 Eurofactor may cap its financing at the value of those Receivables covered by the credit insurance issued by the credit-insurance company. 

8.5 Each Client or the CMI, as applicable, will ask its credit insurance company for a single and/or group credit limit and will provide it/them to
Eurofactor; the lower of these credit limits will be reputed as constituting the credit limits applicable to the Agreement. Eurofactor will be immediately notified of any modifications made to the credit limited granted by the credit insurance
company or to the terms and conditions of the credit insurance. If a credit limit granted by the credit insurance company is reduced or cancelled, this measure will apply automatically to any credit limit established by Eurofactor, unless otherwise
agreed in writing. 
 8.6 Each Client or the CMI, as applicable, agrees:  

(a) to make sure that the credit insurance policy remains valid and in force at all times; 

(b) to inform its credit insurance company of the Assignment to Eurofactor of all rights, in particular rights to compensation, generated by the credit
insurance policy taken out, and to instruct the insurer to state that Eurofactor is the delegatee thereof in the policies; 

  
 10 

 Translation from the French for information purpose only 

 
 (c) to provide Eurofactor immediately, throughout the term of the Agreement, with
all original documents relating to each credit insurance policy; 
 (d) to provide Eurofactor with the credit insurance company’s most recent
List of Authorizations as of the Agreement’s Effective Date and, subsequently, every 6 months during the term of the Agreement; 
 (e) upon
request from Eurofactor, to give its credit insurance company immediate instructions to submit the Premium Invoices directly to Eurofactor and to authorize the latter to accept these Premium Invoices on its behalf; 

(f) to give Eurofactor on-line access to its insurance policies and to all documents and/or information related thereto and to take all action
necessary for said access; 
 (g) to make all its declarations to the credit insurance company in accordance with the terms and within the deadlines
imposed by its policy, even where the Receivables in question have not been debited from the Current Account; 
 (h) to send Eurofactor a copy of its
statements of turnover, as well as documents evidencing the payment of premiums; and 
 (i) to inform Eurofactor upon notification of the termination
of the credit insurance policy. 
 8.7 If Eurofactor pays a Premium Invoice due by a Client or the CMI, as applicable, Eurofactor will then debit
this amount from the Client’s Current Account. 
 8.8 The Clients accept that Eurofactor may inform the credit insurance company about any
significant events concerning the Agreement and reciprocally authorizes the credit insurance company to inform Eurofactor about any significant events concerning the credit insurance policy. 

8.9 Any Receivable for which payment of compensation could be suspended, deferred, refused or annulled by the credit insurance company (in particular,
contested receivables, application of excess amount or payment ceiling) will be considered as being unguaranteed and must therefore be immediately reimbursed in full to Eurofactor. 

 

	9.	CURRENT ACCOUNT 

 9.1 Eurofactor will maintain a Current Account for each Client and may subdivide
this Account into sub-accounts, purely for accounting purposes. Notwithstanding such subdivision, each Current Account will be considered as a single and unique account. 

The Deliveries, debts and reciprocal Receivables recorded on this Current Account are account items only, all entries being pooled together in an indivisible
manner. 
 Each Client or the CMI, as applicable, and Eurofactor indeed expressly agree that said Receivables and reciprocal debts generated by the
performance of the Agreement or of any other agreements are connected and indivisible, so that they act as mutual guarantees and are off-set between each other, even when the conditions required for legal off-setting have not been met. 

  
 11 

 Translation from the French for information purpose only 

 
 9.2 Eurofactor will in particular credit each Client’s Current Account with
the value of the Purchase Price of those Receivables listed on a Delivery. 
 Eurofactor will in particular debit from the Current Account the value of the
financing for each Client as well as all amounts owed to Eurofactor by each Client or the CMI, as applicable. 
 9.3 Each month, in any manner,
Eurofactor will send a Current Account Statement to each Client or the CMI, as applicable. Each Current Account Statement will be binding upon the Client in question or the CMI, as applicable, except in the event of proven error or a justified
challenge received by Eurofactor within one month following the date of sending of the Statement. 
 Eurofactor will be entitled to modify and/or correct
any Current Account Statement addressed to a Client or to the CMI, as applicable. In this case, the provisions of the previous paragraph will apply to the modified Statement. 

9.4 Eurofactor continues to be the owner of any Receivable transferred, even if debited from the Current Account, up until such time as it has been
effectively reimbursed to Eurofactor. 
 9.5 The Current Account does not include any overdraft authorization. Should the Current Account have a
negative balance, the negative amount shown on the Current Account would be immediately and automatically due for payment. 
 9.6 All payments owed
to Eurofactor by a Client or the CMI, as applicable, will be made in full, without deduction or off-setting, at their due date and in an Accepted Currency. 

9.7 The Current Account is closed on the date of termination of the Agreement. The final closure and the balance of the Current Account are established
subject to the liquidation of all outstanding transactions only. 
  

	10.	FINANCING 

 10.1 Each Client or the CMI, as applicable, may enjoy financing of up to 100% of the
value of the approved Receivables, within the limit of the Current Account available balance. 
 This financing is carried out within the limit of the
positive balance of the Current Account, in particular after the potential constitution of the Guarantee Account and of the Reserve Account(s) and/or Reserve Fund. 

Eurofactor may agree to finance all or part of the non-approved Receivables. This option does not in any way lead to the guarantee of said Receivables. Such
financing may be revoked at any time, Eurofactor remaining the owner of the Receivables in question. 
 10.2 Except where expressly requested by the
Client or the CMI, as applicable, financing is provided in the invoicing currency. 
 The Client Current Account is impacted by any exchange rate earnings
or losses, both in the event of settlement by the Debtor in a currency other than that used for invoicing and where financing has been provided in a currency other than that used for invoicing. 

  
 12 

 Translation from the French for information purpose only 

 
  

	11.	FINANCING LIMITS 

 The total value of the financings put in place in favor of the Clients or the CMI, as
applicable, under the Agreement cannot exceed the financing limit defined in the specific terms and conditions. 
  

	12.	DISPUTES – DEBIT FROM THE CURRENT ACCOUNT, 

 12.1 If a Receivable is the subject of a dispute:
 
  

	(a)	the Client concerned or the CMI, as applicable, must: 

  

	•	 	immediately notify to Eurofactor the factors relating to this dispute; 

  

	•	 	make its best efforts in order to settle the dispute immediately, directly with the Debtor, without prejudice as to Eurofactor’s right to try in parallel to settle the dispute. 

 

	(b)	Eurofactor, without prejudice regarding any other right or recourse at its disposal, may debit the unpaid amount from the Client’s Current Account or place the amount in the Reserve Fund. 

12.2 Receivables are also debited from the Current Account or placed in the Reserve Fund in particular if: 

(a) they are still unpaid over 90 days after their due date; or 

(b) the representations and warrantees given or the commitments or undertakings made in the Agreement are found to be inaccurate or not respected; or

 (c) they exceed the Maximum Concentration Rate when consolidated with all Outstanding Receivables owed by the same Debtor; or 

(d) they are owed by a Debtor with which the Client is carrying out transactions exceeding its credit limits, it being understood that only those
Receivables due by this Debtor in excess of the credit limits will be debited from the Current Account; or 
 (e) the Client has postponed the
payment deadline without Eurofactor first having given its approval in writing; or 
 (f) the Client or the CMI fails to comply with the provisions
of its credit insurance policy, if any exists, it being understood that only those Receivables no longer enjoying credit insurance coverage will be debited from the Current Account; or 

(g) for any reason whatsoever, Eurofactor does not become the effective owner of a Receivable or of its Related Rights and Charges. 

13. CREDIT NOTES 
 Each Client will immediately issue all
Credit Notes relating to the Receivables and simultaneously provide them to Eurofactor. At Eurofactor’s request, each Client will immediately provide the company with all documents relating to such Credit Notes. 

The Credit Notes must be reasoned. 

  
 13 

 Translation from the French for information purpose only 

 
 In the event of the issuance of a Credit Note and without prejudice as to any other
rights or means of recourse at its disposal, Eurofactor will debit the value of the Credit Note from the Client’s Current Account. 
 Credit Notes that
do not comply with usual practice or issued fraudulently with regard to the rights of Eurofactor will be considered unenforceable upon the latter. 
  

	14.	GUARANTEE ACCOUNT 

 To guarantee the reimbursement of those amounts that might be owed by the Client to
Eurofactor, an unremunerated Guarantee Account is opened in Eurofactor’s accounts, funded through deductions from the Receivables financing, the operating methods of which are described in the specific terms and conditions. 

During the performance of the Agreement, Eurofactor may at any time deduct from the Guarantee Account the amounts necessary to cover the debtor position of
the Client Current Account, the Guarantee Account then being funded back up to the agreed level. 
 The amounts held back are deducted for the cash pledge
held by Eurofactor. They are off-set automatically and at the level of the potentially negative balance of the Current Account at any time, including at the time of its definitive closure and after complete settlement of the accounts. If any excess
exists, this is paid back to the Client. 
 In the event of any surety, assignment or seizure against the Client having an impact on the Guarantee Account,
the latter is unavailable up to the amount concerned by these transactions, without prejudice regarding Eurofactor’s right to use the amounts held thereon for the purpose of the repayment of its own receivables. 

If the Agreement is terminated without notice, the Guarantee Account becomes unavailable up to the amount recorded on the day of termination. If the Agreement
is terminated with notice, the Guarantee Account becomes unavailable for the amount recorded at the end of the notice period. 
 As many sub-accounts as may
be necessary can be created in the Client’s name, which form an integral party of the single Guarantee Account, in particular for Export business. Eurofactor may convert into the Accepted Currency the balance held on the sub-accounts on the
basis of published rates as of the date of the transaction. 
  

	15.	RESERVE FUND AND ACCOUNT 

 For each Client, Eurofactor may, at any time, set up one or several Reserve
Accounts and hold certain sums in the Reserve Fund. 
  

	16.	RECOVERY OF ASSIGNED RECEIVABLES 

 Eurofactor, as owner of the Assigned Receivables, may at its
discretion either carry out the recovery itself or entrust this task to a Service Provider or again a Client or the CMI, as applicable. 

  
 14 

 Translation from the French for information purpose only 

 
 16.1 Recovery by Eurofactor or a Service Provider 

(a) Recovery 
 Eurofactor has sole capacity to receive
and pursue the recovery of all Receivables, ownership of which has been transferred to Eurofactor. 
 Eurofactor can therefore carry out all valuations,
demands and reminders necessary for the recovery of the Receivables. 
 Eurofactor has the power to grant or refuse any postponement, extension or
arrangement on the Receivables transferred. 
 The Client undertakes to provide assistance to Eurofactor and, in particular, to provide, upon first request
from Eurofactor, all supporting evidence, correspondence and useful documents. In the event of court-ordered recovery, said documents, validated by the Purchaser, must be provided in a systematic manner by the Client. 

(b) Special authority 
 If the Means of Payment provided
to Eurofactor in performance of the Agreement are made out to the Client, the Client authorizes Eurofactor to endorse or regularize such Means of Payment if necessary, in its place. 

Any bill of exchange drawn on the Debtors or any bill subscribed for by the latter in favor of the Client, as well as any check issued by the Debtors in favor
of the Client, must be endorsed immediately to the order of Eurofactor. 
 Eurofactor may act pursuant to a joint interest order granted hereby by the
Clients or the CMI, as applicable, for the purpose of the management and recovery of the Receivables and may carry out all transactions related thereto. 

Should Eurofactor receive payments relating to Receivables, the ownership of which had not been previously transferred to Eurofactor, even after termination
of the Agreement, Eurofactor is considered as having received such payments on behalf of the Clients. 
 The receipt of these payments may, subject to
completion, be credited to the Current Account. 
 (c) Direct payments 

When the Means of Payment are made out directly to the Client or the CMI, as applicable, in payment of Receivables transferred to Eurofactor, the Client or
the CMI, as applicable, can only receive them in their capacity as Eurofactor depositary and must, upon receipt of payments, return or reimburse these payments to Eurofactor immediately. 

16.2 Recovery by the Clients or the CMI, as applicable 

(a) Management and recovery authorization: 
 If
Eurofactor chooses to entrust the recovery of Receivables on its own account to each of the Clients or the CMI, as applicable, it designates, as of the date hereof, each Client or the CMI, as applicable, as agent in the context of a joint interest
mandate for the purpose of the recovery of the Receivables, the management of the Means of Payment and, more generally, the management of relations with the Debtors in question, in accordance with Article 16; the mandate or mandates remain in force
until Eurofactor terminates or modifies the scope thereof, in accordance with Article 16.3 of the general terms and conditions. 

  
 15 

 Translation from the French for information purpose only 

 
 This mandate will not be remunerated and its termination by Eurofactor will not give
rise to any compensation. 
 (b) Each Client or the CMI, as applicable, accepts this appointment and undertakes: 

 

	•	 	To proceed immediately with the recovery of the Receivables, with the same level of diligence as it would have used had it remained owner of said receivables, and in accordance with all laws and regulations in force;

  

	•	 	to comply with the recovery procedures validated by Eurofactor and to obtain Eurofactor’s agreement in writing for any modification to said procedures; 

 

	•	 	to ensure that all Receivables are recorded, immediately and accurately, in its Debtor Ledgers and to ensure that its books bear a visible indication showing which of its Receivables have been Assigned to Eurofactor;

  

	•	 	to maintain auxiliary accounting records and provide Eurofactor with copies of its Debtor Ledgers as well as the reconciliation with the relevant Current Account in an electronic format compatible with the systems
operated by Eurofactor; and 

  

	•	 	to make its best efforts to adopt all appropriate measures in order to protect the rights of Eurofactor, including any pre-litigation or litigation measures. 

(c) Recovery Accounts 
 Each Client or the CMI, as
applicable, keeps a Recovery Account, in accordance with the regulations of each country in question, and undertakes to ensure that all Means of Payment are paid to this account. 

Unless otherwise instructed by Eurofactor, each Client will cite the references of its Recovery Account, to the exclusion of any other account, on each
invoice issued. 
 Should the Client and/or the CMI receive payment from Debtors on an account other than that mentioned above, the Client and/or the CMI
undertakes to transfer such payment immediately to the aforementioned account. 
 (d) The amount of the Means of Payment received from the Debtors is
credited, subject to effective collection by Eurofactor. 
 (e) The Client and/or the CMI, agent, must inform Eurofactor of any refusal or delay in
payment, dispute, deduction, relating to the Receivables and forward to Eurofactor, at first request, all information and/or all documents relating to said Receivables. 

(f) Ownership of the Receivables having been transferred to Eurofactor, the invoices drawn up by each Client or the CMI, as applicable, in
representation of these Receivables, are considered to be at the disposal of Eurofactor on a permanent basis. Each Client and/or the CMI agrees to guarantee this total availability and to warn Eurofactor immediately about any information on an event
having occurred or liable to comprise such availability; 

  
 16 

 Translation from the French for information purpose only 

 
 (g) In the context of the authorization entrusted to the Client and/or the CMI,
the latter undertakes to flag up any anomaly relating to the factoring accounts within a period of three months dated from the event generating the anomaly. After this period, it will be considered that the Client and/or the CMI has granted
discharge over the factoring accounts; 
 (h) The Client, under Eurofactor’s supervision, is entrusted with managing any legal proceedings
brought against Debtors. Eurofactor may require the Client to launch legal proceedings. The matters are entrusted to Counsel chosen by joint agreement. 

(i) Notification of Assignment to the Debtors 

Eurofactor is at all times entitled: 
  

	•	 	either to ask a Client or the CMI, as applicable, to notify to a (or to its) Debtor(s) that the relevant Receivables have been Assigned, 

 

	•	 	or to itself carry out said notification and, more generally, to take all useful measures in order to ensure that the relevant Assignments of Receivables are enforceable upon the Debtor(s). 

16.3 Revocation of authorization 
 a) Eurofactor reserves
the right to rescind the management and recovery authorization, in accordance with the methods set out at Article 19.1 of the general terms and conditions, in the following cases: 

 

	 	•	 	events of termination described at Article 22 of the general terms and conditions 

  

	 	•	 	in the event of termination of the Agreement 

  

	 	•	 	in the event of failure by the Client, acknowledged by Eurofactor, to comply with all or part of the detailed methods described in the Agreement or any other event likely to compromise the proper performance of the
aforementioned authorization. 

 Except where expressly waived by Eurofactor, termination of the authorization granted to the Client will be
immediately effective upon notification. 
 b) In the event of termination of authorization, the Client may then, without prejudice as to Eurofactor’s
right to terminate the agreement in application of the provisions of Article 22 of the general terms and conditions: 
  

	 	•	 	either settle the balance of the factoring transactions and reimburse Eurofactor. In this case, termination of the Agreement is acknowledged after effective receipt of payment of the settlement by Eurofactor.

  

	 	•	 	or continue to enforce the Agreement without management and recovery authorization. To this end, the rules of Article 16.1 of the general terms and conditions will apply and, in particular, Eurofactor will be alone or
through the intermediary of the Service Provider entitled to recover all of the Receivables in accordance with the procedure that it deems appropriate. Each Client or the CMI, as applicable, will have to cooperate fully with Eurofactor and, as
applicable, with the Service Provider. Moreover, the factoring commission will be revised. 

 (c) Similarly, as of the effective date of this
revocation, it will be obligatory for all copies of invoices to state in a clearly visible manner the assignment reference as described at Article 4-6 of the general terms and conditions. 

(d) In the event of revocation of authorization, the Client must provide Eurofactor with all elements in its possession relating to the Receivables Assigned
and, in particular, those relating to the keeping of the auxiliary accounts and to recovery. 

  
 17 

 Translation from the French for information purpose only 

 
  

	17.	REMUNERATION 

 17.1 Factoring Commission 

For the payment and guarantee of receivables, receipt of payment and recovery, Eurofactor deducts a factoring commission calculated on the amount (including
tax) of the invoices, the rate of which is set out in the Specific Terms and Conditions. 
 Eurofactor receives an annual minimum factoring commission
amount stipulated in the specific terms and conditions. Provisions may be built up at any time. This annual minimum commission comes into force as of the date of signature of the agreement, then at each anniversary of said agreement, even in the
event of later amendments, except where otherwise stipulated in said amendment. This is due in full for any year begun and becomes immediately owing in the event of the termination of the factoring agreement or insolvency proceedings involving the
Client. 
 The parameters that determine changes in the factoring commission rate may be re-set on January 1st and July 1st of each year depending on changes in the Consumer Price Index (Indice des Prix à la Consommation or IPC). This is
also the case for the annual minimum factoring commission. 
 17.2 Special commission 

For deductions made, financings and all advances, Eurofactor receives a special commission, calculated subject to value dates and that remains outstanding,
even after account closure, up until Eurofactor has been reimbursed in full. 
 The special commission rate is calculated in the specific terms and
conditions and defined on the basis of changes in a benchmark rate agreed between the parties. Provisions may be built up at any time before the final establishment of the special commission detailed account. 

Other services may be carried out under the tariff conditions in force. 

17.3 Promissory notes 
 The subscription by Eurofactor,
at the Client’s request, of promissory notes made out to its order, will lead to payment of a commission calculated pursuant to the methods set out in the specific terms and conditions. 

17.4 Fiscal regime 
 Generally speaking, the Client pays
to Eurofactor all taxes, fiscal duties and accessories, both present and future, that may be due pursuant to the performance of the agreement. 

  
 18 

 Translation from the French for information purpose only 

 
  

	18.	REPRESENTATIONS AND WARRANTIES, LIABILITY AND INDEMNITIES 

 18.1 General representations and
warrantees 
 (a) Each Client or the CMI, as applicable, hereby represents and warrants to Eurofactor: 

 

	•	 	that it is a lawfully incorporated company and is fully compliant with regard to the law in the country in which it is established; 

  

	•	 	that the execution and performance of the Agreement and of the other agreements or contracts to be agreed or provided by the Client/CMI by virtue of the Agreement have, or will have, been validly authorized by its
competent corporate bodies, if necessary; 

  

	•	 	the accuracy of all of the information provided by the Client/CMI relating to its activity or its financial situation and that of the Group, and that no material change has occurred since the date on which such
information was drawn up; 

  

	•	 	that no claim, legal action or procedure that could be reasonably liable to lead to a Material Adverse Effect is pending or imminent, to their knowledge; 

(b) These representations and warrantees shall be reputed as having been reiterated by each Client or the CMI, as applicable, upon each Delivery to
Eurofactor. 
 18.2 Undertakings and communication  

Each Client or the CMI, as applicable: 
 (a) will
disclose, within 30 days at the latest following the holding of its annual general shareholders’ meeting, its annual accounts, the reports by the board of directors and the statutory auditors related thereto, and an extract from the minutes of
the general shareholders’ meeting approving said accounts; 
 (b) will provide to Eurofactor: 

(i) immediately as soon as it is aware, any information relating to a dispute or to any event whatsoever liable to impact Eurofactor’s
rights to the Receivables transferred and, more generally, liable to cause a Material Adverse Effect, 
 (ii) 30 days in advance, notice of
its decision to amend the company name or change registered office, 
 (c) will inform Eurofactor, as soon as it is aware, of the existence of any
event that could compromise the performance of one of their obligations and, if applicable, of the measures taken, or that it is contemplating taking, in this regard; 

(d) undertakes not to modify invoicing, accounting and recovery procedures without prior agreement in writing from Eurofactor or the Service Provider;

 (e) will give instructions to each Debtor to deposit all Means of Payment in its Recovery Account or in any other account indicated by Eurofactor;

 (f) is prohibited from building up or allowing Charges to exist on the Recovery Accounts, the Receivables, the Related Rights and Charges and/or
related assets, except for those created in favor of Eurofactor; 
 (g) makes an undertaking to Eurofactor, starting from the Agreement’s
Effective Date and throughout its term and for so long as amounts remain owing to Eurofactor, to ensure that the financial earnings indicators defined in the specific terms and conditions are achieved. 

  
 19 

 Translation from the French for information purpose only 

 
 18.3 Indemnities 

Each Client or the CMI, as applicable, hereby undertakes to indemnify, at first request, Eurofactor, the Service Provider and each of their Affiliated
Companies for any direct or indirect prejudice, costs and expenses of any kind consecutive to the non-performance by the Client or, as applicable, the CMI, of any one of the obligations incumbent upon the latter pursuant to the Agreement. 

18.4 Joint and several liability of the Clients 

The performance obligations generated by the Agreement are jointly and severally applicable to each Client in question and to the CMI. 

The payment obligations generated by the Agreement are jointly and severally binding upon all of the Clients and the CMI. Therefore, all of the Clients and
the CMI are obliged with regard to payment of the amounts owed by each one of them to Eurofactor. 
  

	19.	COMMUNICATION 

 19.1 Information 

(a) Unless otherwise specifically stated, all information or communications relating to the Agreement or its performance will be sent by simple mail,
fax to the number provided by the recipient or electronically. 
 (b) All claims, communications and information will take effect upon receipt. 

(c) Each Client or the CMI, as applicable, has sole responsibility for the transfer and communication of full data to Eurofactor or to the Service
Provider. These transfers or communications must be carried out in the agreed form and within the agreed deadline. Costs relating to data entry and transfer are to be borne by the CMI and the Clients. 

19.2 EOL 
 The Clients or the CMI, as applicable,
are entitled to use the Eurofactor on-line system called EUROFACTOR ONLINE (EOL). The EOL general utilization terms and conditions set out in annex 4 will apply, as well as any later amendments. 

 

	20.	AUDITS 

 20.1 Eurofactor or the Service Provider may, at any time, carry out, at the Client’s
expense, audits in the premises in which the Client conducts business, in order to audit and, if necessary copy any Debtors’ Ledgers, credit insurance policies and all documents related thereto, the financial statements concerning this Client
and/or the consolidated statements concerning the Group, all of this Client’s documents or ledgers relating to the performance of the Deeds of Sale. Each Client will be obliged to cooperate fully with Eurofactor or the Service Provider. 

20.2 If Eurofactor wishes to discuss a Client’s financial situation with its Statutory Auditor, it may indicate this to the Client or the CMI, as
applicable, stipulating the questions or points that it 

  
 20 

 Translation from the French for information purpose only 

 
 
wishes to examine. In this case, the CMI and/or the Client in question will have to authorize the Statutory Auditor to answer Eurofactor’s questions and disclose all useful information to
the latter. 
  

	21	EVENT OF DEFAULT 

 21.1 Definition of events of default 

Each of the events below constitutes an event of default: 

(a) non-compliance by the Client or the CMI, as applicable, with any one of the obligations imposed pursuant to the Agreement; 

(b) if the financial or economic situation of the CMI, or a Client and/or of one of its subsidiaries worsens materially, in particular when such
financial worsening is acknowledged by the existence of unpaid invoices or by the recording of liens, or the equivalent for Clients governed by non-French law; 

(c) any substantial change to its legal situation, its shareholding structure or the identity of the corporate officers of the CMI or Client; 

(d) if a Client ceases to carry out the commercial activity that it carried out as of the Effective Date of the Agreement or carries out a different
commercial activity; 
 (e) if a Client or the CMI, as applicable, fails to make payment of an amount due to Eurofactor in performance of the
Agreement; 
 (f) any omission or failure to disclose information or inaccurate declaration in the information provided by the Client or the CMI, as
applicable, upon signature or during the course of the Agreement; 
 (g) if any representation and warrantee made or guarantee given or considered as
having been reiterated by a Client or the CMI, as applicable, is not respected or turns out to have been inaccurate, misleading or non-compliant when established or considered reiterated or again if it disappears or is revoked; 

(h) the disappearance, revocation, nullity, invalidity or refusal to renew any guarantee whatsoever granted in the context of the Agreement; 

(i) the termination or breach of a credit insurance policy; 

(j) if Eurofactor is unable to benefit, in whole or in part, from the delegation of the right to indemnities and the effects thereof; 

(k) the appointment of a provisional administrator or an ad hoc liquidator, the launch of conciliation proceedings, the definitive cessation of
trading, amicable liquidation with discontinuation of business and, generally, any situation having the same legal impact, in particular for Companies governed by non-French law; 

(l) a seizure, or any equivalent procedure, implemented to the detriment of the Client or the CMI, as applicable; 

(m) any change occurring in the assets, transactions or situation of a Client or the CMI, as applicable, that could or can have a Material Adverse
Effect; 

  
 21 

 Translation from the French for information purpose only 

 
 (n) serious irregularities in the accounting procedures of the Client or the CMI,
as applicable; 
 (o) material delays or a worsening in delays concerning payment of the Client’s suppliers or of other creditors, in particular
privileged creditors; 
 (p) the revocation or disappearance, for any reason whatsoever, of the authorization granted to the CMI pursuant to the
terms of Article 2 of the general terms and conditions. 
 21.2 Eurofactor’s rights following an event of default 

During or following an event of default, Eurofactor may, via notification addressed to the Client or the CMI, as applicable, take some or all of the following
measures: 
 (a) reduce the financing percentage and/or the financing limit; 

(b) set up a Reserve Account or maintain funds in the Reserve Fund; 

(c) require immediate payment of all amounts due to Eurofactor; 

(d) terminate the Agreement without notice for all of the Clients or solely for the Client or Clients concerned by the event of default where this
constitutes seriously reprehensible conduct on the part of the Client and/or is based on a situation irremediably compromised for the latter; should the Agreement be solely terminated for the Client or Clients concerned by the event of default,
Eurofactor will revise its operating conditions, by means of an amendment. 
  

	22.	TERM - TERMINATION 

 The Agreement has been concluded for an unlimited term. 

It will remain in force until terminated by Eurofactor or the Client via recorded delivery letter with confirmation of receipt addressed to the other Party,
giving three months’ notice, one copy of which will be addressed, if applicable, to the CMI. 
 If the Agreement is not terminated simultaneously for
all of the Clients, Eurofactor may, if it so chooses, terminate or continue the Agreement with the other Clients. If continued, Eurofactor will revise its operating conditions with the Clients in question, by means of an amendment. 

It may also be terminated without notice by Eurofactor in the event of seriously reprehensible conduct on the part of the Client and/or if the latter’s
situation were to become irremediably compromised, as described at Article 21.2 d) of the general terms and conditions. 
 If, further to any event, and
starting from the occurrence thereof, the Agreement were to remain in force with one single Client only, including the CMI, the Agreement would be automatically terminated without further formalities and with immediate effect. 

Unless otherwise stipulated to the contrary, the termination of the Agreement will not impact the duties and obligations of Eurofactor generated prior
thereto. Such rights and obligations will remain fully in force up until all amounts owed by the Debtors and/or each Client or the CMI, as applicable, to Eurofactor pursuant to the Agreement have been paid to Eurofactor. 

  
 22 

 Translation from the French for information purpose only 

 
  

	23.	MISCELLANEOUS PROVISIONS 

 23.1 Non-Working Days 

If a payment falls due on a day other than a Working Day, the payment due date will be postponed to the first following Working Day. 

23.2 Data processing 
 Each Client or the CMI, as
applicable, guarantees that all data provided to Eurofactor has been collected, processed and transferred to Eurofactor in compliance with all data protection laws in force. 

Each Client or the CMI, as applicable, agrees to the automated processing of such data, in accordance with the laws in force, and authorizes Eurofactor to
store and use such data and to communicate it to companies within its group, to its brokers and insurers, service providers or sub-contractors, for the needs of the Agreement only. 

In accordance with French law no. 78-17 of January 6, 1978 on information technology, files and liberties, nominative information gathered in the context
of the factoring agreement is destined for Eurofactor which, by express agreement, is authorized to save such data in memory, to use and to disclose such data to Crédit Agricole Group companies, to its brokers and insurers, or to third
parties and sub-contractors for the needs of the Agreement only, it being understood that, in this context, this data may be transferred outside of the European Union. 

The data is not liable to be the subject of computerized processing other than that necessary for the actual functioning of the Agreement. 

Each Client has the right to access, amend, rectify and delete the information relating to it. 

Each Client also has the right to refuse to allow the transfer of data to third parties for commercial purposes. 

Nominative information gathered in the context of the Agreement is kept in accordance with the rules set out by the law entitled “On Information
Technology and Liberties” and for a term justified by the end use requiring its processing. 
 To exercise such rights, simply send a letter by normal
mail to the following address: 
 CREDIT AGRICOLE LEASING & FACTORING 

Compliance and Legal Department 
 12 place
des Etats-Unis 
 CS 30002 – 92548 Montrouge Cedex - France 

23.3 Exercising rights 
 (a) All rights
granted to Eurofactor by the Agreement are cumulative and may be exercised at any time. 
 (b) Any default or delay in the exercise by Eurofactor of
a right or recourse or again any partial exercise thereof does not mean that this right or recourse has been waived. 
 (c) Eurofactor cannot be held
liable by the Client or the CMI, as applicable, except in cases of serious or grievous misconduct. 

  
 23 

 Translation from the French for information purpose only 

 
 23.4 Transferability 

(a) Eurofactor may at any time Assign to a third party, in particular to a Service Provider, all or part of its rights held under the Agreement and
will notify such assignment to the Client or the CMI, as applicable. 
 (b) The Agreement is specific to each Client which cannot therefore Assign,
encumber or dispose of its rights or obligations pursuant hereto without Eurofactor’s prior written agreement. 
 23.5 Modification 

Any modification to the Agreement can only be made with the written agreement of each other Party hereto. 

23.6 Partial nullity  
 Should one provision of
the Agreement be or become unlawful, void or impossible to perform pursuant to the law, such provision will be considered unwritten, without invalidating the remainder of the Agreement that will continue to produce full effect. 

 

	24.	CONFIDENTIALITY 

 Each Party agrees to keep strictly confidential all information disclosed by another
Party relating to the transactions pursuant to the present. The Parties undertake not to divulge such information to third parties and to ensure that their employees also respect the confidential nature of such information. 

Said undertaking does not apply (i) to information in the public domain, (ii) to the disclosure of information to individuals with regard to which
such disclosure is necessary pursuant to the law or the internal regulations of each Party, or to their legal advisors or accountants, or to ratings agencies. 

In addition and subject to the signature of a confidentiality agreement, Eurofactor is entitled to disclose all information relating to the Agreement or to a
Client to any one of its Affiliated Companies and to any person or entity: 
 (a) to which (or via the intermediary of which) Eurofactor Assigns or
transfers or may Assign or transfer, as applicable, all or part of its rights and obligations pursuant to the Agreement; 
 (b) with which (or via
the intermediary of which) Eurofactor executes or negotiates a sub-investment, syndication or any other transaction relating to the performance of the Agreement; 

(c) that will provide or undertakes to provide, either directly or indirectly, to Eurofactor or to any agent designated by Eurofactor, services or
funds in relation to the Agreement; 
 (d) that will be involved in the Agreement’s financing program; 

The confidentiality undertaking set out in this article will remain in force for two years starting from the date on which the Agreement comes to an end. 

  
 24 

 Translation from the French for information purpose only 

 
  

	25.	COSTS AND EXPENSES 

 The CMI (on its own behalf and on behalf of the Clients) will pay to Eurofactor,
within three Working Days, all of the costs incurred by the latter in the context of the negotiation and execution of the Agreement, and of any modifications if applicable, and of its performance. 

 

	26.	SIGNATURE 

 The Parties agree that each Party will simply initial the first and last pages of the present
and will sign the signature page only. 
 The Agreement may be signed in various copies and by the different Parties on separate copies, each constituting
an original once signed and filed, and all of the copies constituting one single and same deed. 
  

	27.	APPLICABLE LAW AND JURISDICTION 

 27.1 Subject to the provisions of Article 4.2 of the general
terms and conditions, the Agreement is governed by French law. 
 27.2 Any dispute relating to the validity, interpretation, performance or
termination of the Agreement will be brought before the Paris courts. This clause is stipulated in favor of Eurofactor which may therefore, should it so wish, bring any dispute before any other competent court. 

27.3 If a version of the Agreement has also been drawn up in a language other than French and signed by the Parties, the latter acknowledge that only
the Agreement drawn up in French will take precedence. 
 Executed in Saint Jean de Luz, on October 31, 2013 

In six original copies. 
 EUROFACTOR 

represented by
                                        

 duly authorized for the purpose of signing the Agreement 

NA PALI 
 represented by Thomas CHAMBOLLE 

duly authorized for the purpose of signing the Agreement 

  
 25 

 Translation from the French for information purpose only 

 
 EMERALD COAST 

represented by Thomas CHAMBOLLE 
 duly authorized for the purpose
of signing the Agreement 
 KAUAI 
 represented by Thomas
CHAMBOLLE 
 duly authorized for the purpose of signing the Agreement 

LANAI 
 represented by Thomas CHAMBOLLE 

duly authorized for the purpose of signing the Agreement 

SUMBAWA 
 represented by Thomas CHAMBOLLE 

duly authorized for the purpose of signing the Agreement 

  
 26 

 Translation from the French for information purpose only 

 
 ANNEX 1 

ASSIGNMENT METHOD APPLICABLE TO THE ASSIGNED RECEIVABLES 
  

	1.	France 

 Applicable law: French law 

French law governs the Assignment of the French Clients’ Receivables and Related Rights and Charges to Eurofactor. 

Contractually agreed subrogation and methods 

“Subrogation” is a means of Assignment that consists in transferring ownership of the Receivables to a factor, by reason of the subrogation set out
at Article 1250 of the French Civil Code. 
 Pursuant to this law, subrogation is granted by the creditor when the latter, receiving payment from a third
party, subrogates such third party into its rights, actions and privileges against the Debtor: this subrogation must be express and made at the same time of the payment. 

Eurofactor is carrying out payment of the Receivables by crediting their value to the Current Account. 

The French Client or the CMI, as applicable, signs a permanent subrogation discharge to the benefit of Eurofactor, which may however claim a subrogation
discharge with each delivery of invoices. 
  

	2.	Other countries 

 As set out at Article 4.2 of the general terms and conditions, local law applies for
the Assignment of the English, German and Spanish Clients’ Receivables and Related Rights and Charges to Eurofactor. 
 To this end, the documentation
and draft deeds of assignment will be sent to the Clients or to the CMI, as applicable, by separate deed. 

  

					
	Annex 1	  	1/1	  	

 Translation from the French for information purpose only 

 
 ANNEX 2 - DEFINITIONS 

“Credit Note” 
 designates, in relation
to any Receivable, a reduction in the nominal value of such Receivable or a cancellation of such Receivable granted by any Client, in accordance with its usual commercial procedures. 

“Assignment” 
 designates, in relation to
a Receivable, the sale and/or transfer, assignment, pledging or the creation of any other kind of surety, as applicable, pursuant to the relevant provisions of the Annex, relating to all the rights, titles and interests over this Receivable by all
means, and “Assign,” “Assigns” and “Assigned” will be given the corresponding interpretation. 
 “Charge”

 designates any mortgage, charge (fixed or variable), pledge, privilege, allocation in guarantee, assignment via surety, trust or accord with the
aim of providing a guarantee or other surety of any kind, guaranteeing or granting privilege for any obligation or other agreement having the effect of granting rights of reserve or of off-setting, or other rights to dispose, over an asset
(including, in particular, transfer of ownership arrangements and/or of reserve having a similar effect), and including any agreement aimed at establishing the foregoing, but not including privileges generated automatically in the normal course of
business. 
 “CMI” 
 designates NA PALI
(331 377 036), appointed agent by the Client in its name and on its behalf, and in the name and on behalf of each of the other Clients, pursuant to Article 2 of the general terms and conditions. 

“Statutory Auditors” 
 designates the
statutory auditors of each Client and of the CMI. 
 “Guarantee Account” 

designates a non-remunerated account, funded by deductions from the financings of the Receivables transferred, aimed at guaranteeing the reimbursement of those
amounts which may become owed by the Client to Eurofactor. The amounts retained are kept as a cash pledge, held by Eurofactor. 
 “Recovery
Account” 
 designates the Eurofactor or service provider bank accounts reserved for recovery, in each of the countries of the Clients or the
CMI, or the bank accounts of the Clients and the CMI that could be pledged, assigned or, in any other manner, dedicated in favor of Eurofactor or of the service provider. 

“Reserve Account” 
 designates a
sub-account of the current account, set up by Eurofactor and funded by debit from the current account or by amounts taken from the Purchase Price. 

  

					
	Annex 2	  	1/5	  	

 Translation from the French for information purpose only 

 
 “Current Accounts” 

designates the internal accounts opened, for accounting purposes, by Eurofactor in the name of each Client and of the CMI, in view of recording transactions
between Eurofactor, on one hand, and (i) each of the Clients and/or (ii) the CMI, on the other hand. For the avoidance of any contestations, “Current Account” designates one such internal account and, for Germany, does not mean
“Kontokorrent” pursuant to the HGB German commercial code. 
 “Deed of Sale” 

designates an agreement or contract, including a purchase order, by and between a Client and a Debtor relating to the sale of Products or to the provision of
services to said Debtor. 
 “Receivable” 

designates a receivable owed to a Client or to the CMI (including the obligation of a Debtor to make a payment under a Deed of Sale), including VAT, all duties
and charges and all Related Rights attached to this obligation or, if required by the context, one part of this obligation or of the Related Rights, whether or not an invoice has been drawn up by the CMI or a Client, and, in all cases, consisting of
an obligation in existence as of the Effective Date or an obligation that will exist after the Effective Date. 
 “Current Receivable”

 designates a Receivable that has been assigned to Eurofactor and not paid in full by the Debtor. 

“Effective Date” 
 designates the date
featured on the signature page of the Agreement. 
 “Debtor” 

designates the debtor under a Receivable. 
 “Accepted
Currency” 
 designates the Euro, the Pound Sterling and the US Dollar. 

“Related Rights” 
 designates, in
relation to a Receivable: 
 (a) the right to ask for, pursue, recover, receive and issue receipts for all amounts due or that will be due pursuant to a
Deed of Sale having generated the Receivable; 
 (b) the advantages under all agreements and of all undertakings made by a Debtor regarding the amounts due
or that will be due pursuant to a Deed of Sale from which the Receivable arises; 
 (c) the advantages under all other causes and of all rights to action
against the Debtor concerning the amounts due or that will be due pursuant to this Deed of Sale; 
 (d) the advantages under all other rights, titles,
interest, powers and profits of a Client over, pursuant to, by virtue of and/or relating to amounts due or that will be due pursuant to this Deed of Sale; 

  

					
	Annex 2	  	2/5	  	

 Translation from the French for information purpose only 

 
 (e) any insurance product received by a Client or the CMI, as applicable, pursuant to
insurance, so long as this relates to amounts due or that will be due pursuant to a Deed of Sale; 
 (f) title deeds, warehouse receipts, bills of lading,
dispatching documents, airfreight letters, certificates of origin, customs and excise forms, commercial and consular invoices, insurance documents or similar documents relating to the relevant Products, including Returned Products; 

(g) all Debtors’ Ledgers relating to this Receivable; 
 (h)
the right to request ownership of all of the Returned Products to which this Receivable relates, as well as the product generated by the sale of all Returned Products; and 

(i) all Means of Payment and interest payable by the Debtor on this Receivable. 

“Material Adverse Effect” 
 designates a
change which, in Eurofactor’s informed opinion, can have an adverse effect on (i) the activity, operations, goods, Assets or the financial situation (including the consequences of potential debts on the foregoing) of the CMI or of the
Clients, (ii) the capacity of the CMI or the Clients to perform their obligations under this agreement that are essential for the rights or interests of Eurofactor, (iii) the recoverable nature (other than via the Insolvency of the Debtor)
of the commercial receivables or the rights to and interests of Eurofactor in the Receivables, or (iv) the rights or profits of Eurofactor pursuant to this agreement and the related documents that are essential to the interests of Eurofactor.

 “Euro” 
 designates the currency
that is currently legal tender within the European Union. 
 “Intermediary Invoicing” 

designates an invoice for Products sold or leased or for services rendered pursuant to an agreement or a contract, by virtue of which the Debtor’s
obligation to pay the invoice is subject to the realization by the Client in question of any other performance pursuant to such contract or agreement. 

“Premium Invoice” 
 designates an invoice
summarizing the expenses payable under a credit insurance policy. 
 “Reserve Funds” 

designates an entry in the Current Account in which are recorded amounts that are unavailable and that may be debited from the Current Account, in particular
should the Assigned Receivables not correspond to the contractual specifications or should they be challenged by the Client’s Debtors. 

“Group” 
 designates, at any point, the
Parent Company and each of its Affiliated Companies, each Client and the respective Affiliated Companies of each Client and “Group member” and “Group company” are interpreted correspondingly. 

  

					
	Annex 2	  	3/5	  	

 Translation from the French for information purpose only 

 
 “FCI Group” 

designates the members of the Factors Chain International association, bringing together several tens of factors around the world, or its Affiliated Companies.
Additional information is available at www.factors-chain.com 
 “IFG Group” 

designates the members of the International Factors Group association, bringing together several tens of factors around the world, or its Affiliated Companies.
Additional information is available at www.ifgroup.com 
 “Working Day” 

designates a day (other than Saturday or Sunday) on which banks are open. 

“List of Approvals” 
 designates a list
provided by the credit insurance company, indicating the Debtors and the Credit Limits granted by this company. 
 “Means of Payment”

 designates, in relation to a Receivable, checks, letters of change, deeds of payment either negotiable or non-negotiable, letters of credit,
orders, bills of exchange, promissory notes, electronic payments and other payment methods accepted by Eurofactor and received by Eurofactor, the services provider or another authorized representative of Eurofactor, or by a Client or the CMI, in
payment for such Receivable. 
 “Agreed Debtor Country” 

designates a European Union Member State as well as the following countries: Switzerland, Andorra, Austria, Byelorussia, Bahrain, Belgium, Brazil, Bulgaria,
Canada, Chile, Croatia, Cyprus, Czech Republic, Denmark, Egypt, Indonesia, Estonia, Finland, Germany, Greece, Guadeloupe, Hong Kong, Hungary, India, Iceland, Ireland, Israel, Italy, Jordan, Lithuania, Macedonia, the Maldives, Malta, Monaco, Morocco,
the Netherlands, Norway, Oman, Poland, New Caledonia, Portugal, Qatar, Spain, South Korea, South Africa, Slovenia, Serbia, Saudi Arabia, Romania, Sweden, Turkey, Ukraine, United Kingdom, Uruguay, the United States and the United Arab Emirates. 

“Purchase Price” 
 designates the amount
payable by Eurofactor to a Client or to the CMI, as applicable (on behalf of a Client) for each Receivable and its Related Rights, in return for the acquisition of the Assigned Receivables. 

“Products” 
 designates the assets,
products, goods or services, subject to a Deed of Sale. 
 “Debtor Ledgers” 

designates all or part of the following documents, depending on the context: 
  

	(a)	the ledgers and accounting records, financial and management accounts; 

  

					
	Annex 2	  	4/5	  	

 Translation from the French for information purpose only 

 
 (b) IT data or documents relating to the financial situation of a Debtor, the sales and
purchases made by the Debtor and/or the Client; 
 (c) all invoices, credit notes or documents confirming entries in the accounts, ledgers and IT data; and

 (d) all other documents that Eurofactor may request at any time concerning the Debtors. 

“Current Account Statement” 
 designates,
in relation to a Client, the statement (in the form established at any point by Eurofactor) provided by Eurofactor pursuant to Article 9.3 of the general terms and conditions, detailing the accounting entries in the accounts recorded by Eurofactor
pursuant to the Current Account of said Client during the period indicated on the statement. 
 “Delivery” 

designates (i) the delivery of a Receivable together with the Related Rights and (ii) the delivery of a Credit Note (in the manner and form to be
specified by Eurofactor at any time) carried out in favor of Eurofactor by a Client and/or the CMI, as applicable. 
 “Affiliated Company”

 designates, in relation to any entity, any entity that directly or indirectly controls the former or is controlled by it, or is controlled by any
entity that in turn controls it, as well as any investment fund of which this entity, or its management company, or any company linked to this entity or its management company, is the manager. 

For this purpose, the term “control” shall have the meaning provided at Article L. 233-3 I of the French Commercial Code. 

“Eurofactor Group Company” 
 designates
Eurofactor and all of its Affiliated Companies. 
 “Maximum Concentration Rate” 

designates 
 30%, in regard to the Group Debtors taken as a
whole. 

  

					
	Annex 2	  	5/5	  	

 Translation from the French for information purpose only 

 
 Annex 3 

SPECIFIC TERMS AND CONDITIONS 

Article 1 – Scope of Application 
  

	 	•	 	Activity: trading in sports articles and clothing 

  

	 	•	 	Scope: all receivables issued on domestic and export Debtors 

  

	 	•	 	Specific Exclusions: intragroup invoicing and financing plan invoicing 

  

	 	•	 	The payment terms granted by the Client to its Debtors will comply with the provisions of the French LME law no. 2008-776 of August 4, 2008 and shall, as applicable, comply with the terms and conditions set
by the credit insurance company. 

 Article 2 – Remuneration, costs and expenses 

1. The Clients will pay to Eurofactor: 
 (i) on the Effective
Date, an arrangement commission equal to 40,000 Euros (excluding tax) (i.e. 47,840 Euros including tax); 
 (ii) a special commission calculated on a
day-to-day basis using the Euribor 3 month rate plus 0.65% per year on any daily outstanding balance; this commission is paid in the invoicing currency. 

This rate is applied immediately following the issuance of the deduction over a period equal to the average invoice recovery term set as of the date hereof
at: 90 days for domestic trade and 90 days for export trade. 
 An adjustment to the value of this commission and to the term is made at period end. 

 

	•	 	APR (taux effectif global): 0.334% for an advance of 60,000,000.00 Euros, made in one payment and by bank wire transfer, average recovery term of 90 days, 10% guarantee account. 

This changes depending on fluctuations in the benchmark rate and in the payment terms observed. 

The APR (taux effectif global) will be calculated solely on the outstanding amounts effectively financed by Eurofactor. 

(iii) upon Delivery of Receivables to Eurofactor or, as applicable, to a Service Provider, a factoring commission calculated on the amount (inclusive of tax)
of the Receivables and the Credit Notes delivered before deduction of any discount or other potential reduction granted to the Debtor in question; 
  

			
	It is equivalent to:	  	0.10% for domestic trade
		  	0.10% for export trade

  

					
	Annex 3	  	1/12	  	

 Translation from the French for information purpose only 

 
 A minimum annual lump-sum amount is deducted monthly, starting from the month following
the Effective Date of the Agreement, and totals: 
 140,000.00 Euros (excluding tax) per year for domestic trade 

70,000.00 Euros (excluding tax) per year for export trade 

These conditions are understood for: 
  

	•	 	minimum annual Deliveries of: 

 200 million Euros (including tax) for domestic trade, and 

70 million Euros (including tax) for export trade. 
  

	•	 	a number of Debtors of: 5,330. 

  

					
	•	  	 average value per Receivable of:	 	2,000.00 Euros (including tax) for domestic trade, and
		  		 	2,000.00 Euros (including tax) for export trade.

 (iv) A monthly subscription of 45 Euros (excluding tax) allowing enjoyment of the IT tools. In this context, the Client
benefits from a quota of 10,000 account openings, for a term of validity of 12 months. This quota is allocated for openings of Debtor accounts. Any additional openings will be invoiced at 17 Euros per action; 

(v) The issuance of a promissory note in favor of the client, signed by Eurofactor, will give rise to payment of a commission calculated pro rata
temporis whose rate is set at 0.30% per year of the amount (excluding tax) of the notes issued. 
 (vi) A confirmation commission of 0.10% per
year of the facility amount (i.e. 60,000,000 Euros including tax) will be received each year by Eurofactor in the invoicing currency. 
 (vii) As an
exception to Article 17.1 of the general terms and conditions, the minimum factoring commission in the event of termination of a factoring agreement will be paid on a pro rata temporis basis. 

2. Eurofactor will be entitled to debit from the Current Account of the Client in question: 

(i) all banking costs and other administrative costs due pursuant to this Agreement; 

(ii) all costs, charges and expenses due for the recovery of the Receivables in the event of termination of appointment as set out at Article
16.2 of the general terms and conditions; 
 (iii) all charges, costs and expenses due for the conversion into an Accepted Currency of a
Means of Payment and/or a payment received pursuant to the terms of the Agreement; 
 (iv) all charges, costs and expenses (other than those
covered by the arrangement commission) due in connection with the negotiation, preparation, performance and/or application or of the protection of any right pursuant to the terms of the Agreement, of any modification, waiver, consent and/or
guarantee; 
 (v) all other amounts owed to Eurofactor pursuant to the agreement. 

3. All rights, charges and remuneration to which Eurofactor is entitled pursuant to the Agreement will be calculated or allocated exclusive of tax and VAT.

  

					
	Annex 3	  	2/12	  	

 Translation from the French for information purpose only 

 
 4. Except where expressly agreed otherwise, the remuneration, rights and charges to
which Eurofactor is entitled under the Agreement will be set and modified by Eurofactor in accordance with the general market situation. Any modification to the rights, charges and remuneration payable by a Client to Eurofactor will come into force,
subject to the Client’s right to notify Eurofactor in writing of its objection to such modification, 30 days after notification of the modification has been given by Eurofactor to the CMI. In the event of objection, Eurofactor will be entitled
to terminate the Agreement under the conditions set out at Article 22 of the general terms and conditions, giving 3 months’ notice by recorded delivery letter with confirmation of receipt. 

Article 3 – Schedule for Deliveries and supporting evidence 

Delivery timetable: weekly 
 Originals are sent to the Debtors
directly by the Client and copies are forwarded to Eurofactor with the following supporting evidence, in accordance with Article 6.1 of the general terms and conditions: 

For all invoices in excess of 150,000.00 Euros: 
  

	 	•	 	Debtors’ purchase order, 

  

	 	•	 	Pick-up note from the transport company or delivery receipt. 

 Article 4 – Terms of Delivery 

Delivery of invoices and credit notes can be made by electronic transfer in accordance with the technical specifications attached. 

The parties may agree on a different method of transmission. In this case, the new transmission method is defined via an amendment to the Agreement and the
factoring commission could be revised, depending on the transmission method. 
 Article 5 – Assignment Reference 

Invoices and credit notes do not feature the Debtors’ Assignment notification reference. 

The invoices must feature the following Recovery Account number: 
  

	 	•	 	no.:                    for the Client NA PALI 

 

	 	•	 	no.:                    for the Client NA PALI Export 

 

	 	•	 	no.:                    for the Client EMERALD COAST 

 

	 	•	 	no.:                    for the Client EMERALD COAST Export 

 

	 	•	 	no.:                    for the Client KAUAI 

 

	 	•	 	no.:                    for the Client LANAI, 

 

	 	•	 	no.:                    for the Client SUMBAWA. 

An initial Delivery of Receivables will be made after validation of IT tests in accordance with the Eurofactor technical specifications and subject to the
compliance of the automated exchanges. 

  

					
	Annex 3	  	3/12	  	

 Translation from the French for information purpose only 

 
 Article 6 – Recovery 

In accordance with Article 16.2 of the general terms and conditions, recovery of Receivables is carried out by each of the Clients and/or the CMI, as
applicable, unless Eurofactor decides to bring this process to an end in accordance with Article 16.3 of the general terms and conditions. 
 Article 7
– Third Party Credit Insurance 
 Article 7 of the general terms and conditions does not apply. 

In accordance with Article 8 of the general terms and conditions, the Client declares that it benefits from a Credit Insurance Policy with AIG and ATRADIUS
and undertakes to ask the latter to delegate purely and simply to Eurofactor, which hereby accepts, the right to compensation for transactions handled starting from the Effective Date of the Agreement, even after closure of the accounts. 

The delegation amendments must be established exclusively in favor of Eurofactor and at the same time as the signature of the Agreement. 

In the event of the termination or breach of the credit insurance policies, Eurofactor has the option to terminate the Agreement without notice. This will
also be the case should Eurofactor not be able to benefit entirely or partially from the delegation of the right to the compensation set out above and the effects thereof. 

Invoices not paid 90 days after their maturity and at the latest at the time of payment of the indemnity delegated to Eurofactor shall be placed in the
Reserve Fund and shall be withdrawn immediately from the auxiliary accounts dedicated to Eurofactor and therefore from the Eurofactor balance. 
 Article
8 – Guarantee Account 
  

	(a)	The Guarantee Account is expressed as a % of the global outstanding amount. It is equal to the rate of non-values (Credit Notes, disputes, refusal to pay, deductions) estimated at 10% completed by 0% as of the date
hereof. 

  

	(b)	Its minimum is 10% of the outstanding amount. 

  

	(c)	It is constituted, upon delivery of Receivables, by a deduction of 10% of their value (including tax) or by payment of the Client. 

  

	(d)	The rates defined in (a) and (b) above are readjusted in direct proportion to any variation of more than 0% in the non-values or the global outstanding amount. 

 

	(e)	In the event of termination of the Agreement, the rate defined above is increased to 15%. This increase is deducted from the following delivery(ies) of receivables or from the Current Account immediately upon
notification of termination of the Agreement. Similarly, the Guarantee Account is made unavailable at a level equivalent to the value observed on the date of notification of said termination. 

  

					
	Annex 3	  	4/12	  	

 Translation from the French for information purpose only 

 
 Article 9 – Miscellaneous Provisions 

The Client undertakes to provide Eurofactor, upon simple request, with a statement of end-of-year discounts, advertising investment or any amounts owed to its
clientele using such practices, as well as any factors allowing the balance thereof to be assessed. 
 Similarly, the Client undertakes to keep Eurofactor
informed of any material modification that could have an impact upon the calculation basis used to determine said reserve account. 
 Upon reception and
depending on this indebtedness statement, Eurofactor may set up a BFA/PP reserve account if the debts designated above represent over 5% of each Client’s turnover. 

Eurofactor reserves the right to ask the Client to have said statements certified by the company’s statutory auditor or, failing this, by its chartered
accountant. 
 In the event of failure to comply with the obligations set out in this article and independent from any consequences resulting from the
general and specific terms and conditions of the factoring agreement, Eurofactor will be entitled to make any adjustments that it considers necessary to the rate and the amount of this reserve account. 

Such adjustments can also be carried out after the exercise by Eurofactor of its audit right as set out at Article 12 of the Specific Terms and Conditions.

 The information concerning the Debtors that the Client or the CMI, as applicable, are obliged to provide to Eurofactor is restricted to the information
of which the Client or the CMI, as applicable, has been made aware. 
 No event of default will occur under paragraph (c) of Article 21.1 of the
general terms and conditions if the change to the shareholding structure of the CMI or a Client results from an intragroup transfer not generating any change of control pursuant to Article L. 233-3-I of the French Commercial Code. 

Article 10 – Late Payment Subcontracting Reserve Account 

The Client undertakes to keep Eurofactor informed, by any means, and in particular by sending its suppliers general ledger each quarter, of the existence of
any subcontracting relating to the invoices assigned by Eurofactor by means of subrogation, with Eurofactor moreover reserving the right to carry out an audit inspection, at its convenience. 

Once Eurofactor, in particular via the suppliers general ledger, has noted any late payment due by Clients to any one of its subcontractors, a reserve account
equivalent to the total outstanding amount under subcontracting will be put in place. This reserve account will be set up in accordance with the following conditions: 
  

	•	 	Each month, the Clients undertake to declare to Eurofactor the outstanding amount corresponding to the invoicing sub-contracted out; 

 

	•	 	Eurofactor will set up the reserve account and carry out its readjustment on a monthly basis, depending on the total of this outstanding amount and the payment terms and conditions of the sub-contractors.

  

					
	Annex 3	  	5/12	  	

 Translation from the French for information purpose only 

 
 In the event of non-compliance by the Clients with the obligations above and more
particularly in the event of non-declaration or inaccurate declaration, Eurofactor will have the right to make any adjustments it considers necessary to this reserve account. 

Article 11 – Guarantees 
 The Clients undertake to
assign their Guarantee account in favor of Eurofactor, in accordance with the terms of the agreement and deeds of assignment of professional receivables under 3 months. 

Copy of the minutes of the deliberations of the Board of Directors or equivalent of Clients having approved this guarantee shall be delivered to EUROFACTOR
within 3 months starting from the date of signature of this agreement. 
 After this deadline, the Clients shall also have delivered to EUROFACTOR the deed
of assignment of the professional receivables of the guarantee account in favor of EUROFACTOR and the signed deed of assignment of the professional receivables. 

In addition, in accordance with Article 18.4 of the agreement, the minutes of the deliberations of the Boards of Directors or equivalent authorizing the joint
and several guarantee for each of the Clients shall be delivered within a period of 3 months. 
 Article 12 – Audit Right 

(a) Subject to having given the client reasonable notice in advance, Eurofactor will have the right to carry out or to have carried out, at least twice per
year, a recovery audit for the purpose of ensuring that the Clients are fulfilling the obligations placed upon them on a permanent on-going basis. 
 (b)
The Clients undertake to provide full assistance to Eurofactor for the purpose of the implementation of any circularization procedures, using the letterhead notepaper of their companies, for the receivables assigned via subrogation that Eurofactor
could consider necessary for the exercise of its recovery audit right. These circularization procedures will be addressed by the Clients. Answers will be addressed to one of their Statutory Auditors. 

(c) With regard to the undertakings made by Eurofactor, the Clients acknowledge that it, as well as any entity or person designated by Eurofactor, has the
right to obtain disclosure of all documents and to audit the sincerity and accuracy of the documentation provided in order to ensure compliance by the Clients with their obligations, by carrying out all verifications and audits useful for such
purpose (subject to having given the client reasonable notice in advance and to carrying out such verifications and audits during normal working hours). The Clients undertake to facilitate the exercise of this right by Eurofactor, in particular by
providing the latter with all necessary assistance. 
 (d) The Clients undertake to forward to Eurofactor their half-yearly intermediate financial
statements and any other financial document in their possession, at the request of Eurofactor. 
 (e) Starting from 6 months after the Effective Date, the
percentage of the Receivables delivered to Eurofactor and still unpaid 90 days after their maturity shall not represent more than 12% of each Client’s turnover. If this were to be the case, Eurofactor could set up a reserve account, sub-account
attached to the current account, in order to place any outstanding payments owed at over 60 days in this account. 

  

					
	Annex 3	  	6/12	  	

 Translation from the French for information purpose only 

 
 Article 13 – Financing Limit 

The total financing amount from which the Clients and/or the CMI benefit pursuant to the Agreement cannot exceed the financing limit, i.e.: 

 

	•	 	60 million Euros and according to the following: 

  

	•	 	70% by bank wire transfer 

  

	•	 	30% by Promissory Note. 

 Upon Delivery of the Receivables to Eurofactor, the breakdown in the financing
enjoyed by the Client and/or the CMI pursuant to the Agreement is 70% by bank wire transfer and 30% by Promissory Note. 
 Article 14 – Electronic
Promissory Note 
 IN THE CONTEXT OF THE FINANCING VIA ELECTRONIC PROMISSORY NOTE, THE FOLLOWING AUTHORIZATION HAS BEEN SET UP: 

AUTHORIZATION 
 Between 

The Client 
 Hereinafter designated the Principal
(Mandant) 
 And 
 Eurofactor, 

Hereinafter designated the Agent (Mandataire) 
 The
Principal is bound to the Agent by factoring agreement no.            signed on
                    . 
 In the context of said
factoring agreement, the Agent is led to finance, via deduction from the available balance of the Principal’s current account, opened in its books, the amount of those invoices assigned by contractual subrogation. The Agent may make settlement
of such financing by subscribing, at the Principal’s request, for promissory notes made out to the latter. 
 To this end, the Principal hereby grants
express mandate to the Agent to: 
  

	 	•	 	depose, in its name and on its behalf, promissory notes, subscribed for exclusively in the context of said factoring agreement, with the CAISSE REGIONALE DE CREDIT AGRICOLE MUTUEL DE L’AGENCE ENTREPRISES DE BAYONNE
– 869 – (also herein designated the “Bank”) by any means, including via electronic transmission, in view of their being cashed. 

  

	 	•	 	proceed, in its name and on its behalf, with the assignment of said promissory notes in the context of the provisions of Articles L.313-23 through L.313-35 of the French Monetary and Financial Code governing the
assignment of professional receivables, and to this end, to sign all deeds of assignment, references, and to make all designations of the assigned receivables. 

  

					
	Annex 3	  	7/12	  	

 Translation from the French for information purpose only 

 
 The deposit and assignment of the Promissory Notes being carried out in view of their
being cashed by the Bank, a refusal to cash by the Bank will automatically and without any need for any notification whatsoever between the parties lead to full and entire release of the delivery and the assignment, and to the issuance of a bank
wire transfer on the same bank account, unless otherwise indicated in advance by the Client, as substitution for the promissory note subscribed for, after refusal notified by the Bank to the Agent in accordance with the procedure in force. 

In the context of this authorization, the Agent will also be authorized by the Principal to use the remote transmission service account that the latter may
have agreed via EDI contract with the Bank. 
 This present authorization, granted in accordance with Articles 1984 and following of the French Civil
Code, has been executed for an unlimited period and can be revoked at any time by recorded delivery letter with confirmation of receipt by one of the parties; such revocation will come into force upon receipt of this letter by the other party, any
transaction agreed prior thereto, i.e. any receivable assignment note drawn up and signed at the time of receipt of said revocation, must be performed through to resolution. 

The parties intend to make this authorization subject to the provisions of French law and take their respective registered offices as their official address
for this purpose. Any dispute relating to this authorization, in particular concerning the validity, interpretation or performance thereof, will be within the exclusive competence of the Paris Commercial Court (Tribunal de Commerce). 

Article 15 – Representations and Communications 
 In
the context of the Agreement, 
 a) the Client undertakes to set up IT links compliant with the technical specifications, according to the project
specifications, in order to allow the transfer to Eurofactor of the following files: 
  

	 	•	 	the Debtors file 

  

	 	•	 	the file on entries not closed and not yet due 

 The first delivery of invoices will be completed after
validation of IT tests, in accordance with the Eurofactor technical specifications and subject to the computerized exchanges being compliant. 
 If
Eurofactor is for any reason whatsoever unable to use the electronic transfer, the Client will have to carry out a new transmission of the digital data after having made the corrections necessary. 

Eurofactor cannot be held liable for any invoice financing delays generated by any delay in their utilization. 

Transmission costs will be borne exclusively by the Client. 

  

					
	Annex 3	  	8/12	  	

 Translation from the French for information purpose only 

 
 The parties may agree on a different method for the transfer of invoices. In this case,
the new transmission method is defined via an amendment and the factoring commission could be revised, depending on the transmission method. 
 b) The
Client undertakes to disclose to Eurofactor, at each transfer: 
  

	•	 	the new outstanding amount transferred as of the date of Assignment 

  

	•	 	payments received and submitted for payment on the following Recovery Accounts: 

  

	 	•	 	no.:                    for the Client NA PALI 

 

	 	•	 	no.:                    for the Client NA PALI Export 

 

	 	•	 	no.:                    for the Client EMERALD COAST 

 

	 	•	 	no.:                    for the Client EMERALD COAST Export 

 

	 	•	 	no.:                    for the Client KAUAI 

 

	 	•	 	no.:                    for the Client LANAI, 

 

	 	•	 	no.:                    for the Client SUMBAWA. 

 

	•	 	miscellaneous adjustments (debit and credit) observed between 2 transfers of Receivables 

  

	•	 	value of the invoices and Credit Notes delivered between 2 transfers of Receivables. 

 Article 16 –
Term of the Factoring Agreement 
 As an exception to Article 22 of the general terms and conditions of the factoring agreement, Eurofactor undertakes to
provide the Client or the CMI, as applicable, with services concerning the financing, recovery and collection of the Receivables described in the Agreement for a period of three (3) years. 

The CMI may terminate the Agreement at any time, subject to the serving of a three (3) months prior notice by recorded delivery letter with confirmation
of receipt addressed to Eurofactor. 
 In the aforementioned case, the Client or the CMI undertakes to pay the minimum lump-sum balance amount described at
Article 2 (iii) herein for a period of 3 years. 
 After the end of the aforementioned period of 3 years, and unless otherwise decided by the Parties
as set out in writing 3 months before the end of the factoring agreement, this agreement will continue, without any need for notification between the Parties, in the form of an unlimited term contract. Therefore, the contractual terms and conditions
can then be revised by joint agreement between the Client and Eurofactor. 
 The agreement may be terminated without notice by Eurofactor by recorded
delivery letter with confirmation of receipt in the event of severely reprehensible conduct on the part of the Client and/or if the latter’s situation were to become irremediably compromised, as described at Article 21.2 d) of the general terms
and conditions. 
 If, further to any event, and starting from the occurrence thereof, the Agreement were to remain in force with one single Client only,
including the CMI, the Agreement would be automatically terminated without further formalities and with immediate effect. 
 Unless otherwise stipulated to
the contrary, the termination of the Agreement will not impact those duties and obligations of Eurofactor generated prior thereto. Such rights and obligations will remain fully in force up until all amounts owed by the Debtors and/or each Client or
the CMI, as applicable, to Eurofactor pursuant to the Agreement have been paid to Eurofactor. 

  

					
	Annex 3	  	9/12	  	

 Translation from the French for information purpose only 

 
 Article 17 – Assignment 

As an exception to paragraph (a) of Article 23.4, Eurofactor will not be able to assign all or part of the rights held under the Agreement without the
prior agreement of the Client or the CMI, as applicable, other than to one of its Affiliated Companies. 
 Article 18 – Indemnification 

As an exception to Article 18.3 of the general terms and conditions, each Client or the CMI, as applicable, hereby undertakes to indemnify, at first request,
Eurofactor and each Service Provider for any prejudice, costs and expenses of any kind effectively borne by them and directly linked to the non-performance by the Client or, as applicable, the CMI, of any one of the obligations incumbent upon the
latter pursuant to the Agreement. 
 Article 19 – Joint and Several Liability of the Clients 

Clause 18.4 of the general terms and conditions is completed by the following provisions: 

The joint and several liability introduced by Article 18.4 of the General Terms and Conditions shall apply as follows: 

The Company NA PALI is joint and several guarantor of the debts of the companies EMERALD COAST, KAUAI, LANAI and SUMBAWA with regard to Eurofactor. 

The companies EMERALD COAST, KAUAI, LANAI and SUMBAWA are joint and several guarantors of the debts of each of the Companies NA PALI, EMERALD COAST, KAUAI,
LANAI and SUMBAWA with regard to Eurofactor, up to a ceiling of 20 million Euros, broken down as follows: 
  

					
	 - EMERALD COAST:
	  	 	7 million Euros	  
		
	 - SUMBAWA:
	  	 	6 million Euros	  
		
	 - KAUAI:
	  	 	4 million Euros	  
		
	 - LANAI:
	  	 	3 million Euros	  

 Article 20 – Confidentiality 

Article 24 of the general terms and conditions is completed as follows: 

The confidentiality undertaking set out at Article 24 does not apply to the disclosure of information to the competent authorities in whose regard this is
necessary pursuant to the law or regulations applicable to each of the Parties and to their Affiliated Companies. 
 Article 21 – List of documents
to be provided for each Client 
  

	 	•	 	An extract from the commercial registry, equivalent to a French certificate of incorporation (extrait k-bis), dated within the past three months or equivalent, 

 

	 	•	 	Certified copy of the articles of association as currently in force, 

  

	 	•	 	Original bank details document for each Client, 

  

					
	Annex 3	  	10/12	  	

 Translation from the French for information purpose only 

 
  

	 	•	 	Copy of an identity document for the executive and the agents, 

  

	 	•	 	Obtaining of the documents relating to the guarantees set out at Article 11 of Annex 3, 

  

	 	•	 	Payment of expenses concerning creation of a file totaling 40,000 Euros (excluding tax), paid by the CMI upon the initial delivery, 

  

	 	•	 	The Client undertakes to transfer to Eurofactor all debenture assets for England, 

  

	 	•	 	Any document allowing Eurofactor to make formal identification of the effective beneficiaries in accordance with the law in force, 

  

	 	•	 	Certified copy of the general terms and conditions, specific terms and conditions, and amendments to the credit insurance contracts, as well as any delegation of authority amendments drawn up in favor of Eurofactor,
within 30 days, 

  

	 	•	 	The list, dated within the past 60 days, of all approvals issued by credit insurance companies, 

  

	 	•	 	An accounting structure diagram for the Client in relation to factoring transactions, 

  

	 	•	 	The recovery procedure in force, 

  

	 	•	 	The bank account operating agreement, duly signed by the parties, (accompanied by the duly regularized assignment forms, for a dedicated account), 

 

	 	•	 	The creation of IT links and validation of the compliance of the computerized exchanged covered by the article Representations and Communication herein. 

Article 22 – Signatories 
 The signatories of this
agreement are the legal representatives of the Client and/or the CMI and of Eurofactor or their duly authorized agents. 
 Executed in Saint Jean de Luz on
October 31, 2013 
 In six original copies 
 EUROFACTOR

 represented by
                                        

 duly authorized for the purpose of signing the Agreement 

NA PALI 
 represented by Thomas CHAMBOLLE 

duly authorized for the purpose of signing the Agreement 

EMERALD COAST 
 represented by Thomas CHAMBOLLE 

duly authorized for the purpose of signing the Agreement 

  

					
	Annex 3	  	11/12	  	

 Translation from the French for information purpose only 

 
 KAUAI 

represented by Thomas CHAMBOLLE 
 duly authorized for the purpose
of signing the Agreement 
 LANAI 
 represented by Thomas
CHAMBOLLE 
 duly authorized for the purpose of signing the Agreement 

SUMBAWA 
 represented by Thomas CHAMBOLLE 

duly authorized for the purpose of signing the Agreement 

  

					
	Annex 3	  	12/12	  	

 Translation from the French for information purpose only 

 
 ANNEX 4 

EUROFACTOR ONLINE (EOL) GENERAL TERMS AND CONDITIONS OF USE 

Eurofactor offers to the Clients or the CMI, as applicable, the option to use EOL via the internet. The following terms and conditions apply in using EOL, in
addition to the terms and conditions of the agreement. 
  

	1.	Scope of the Agreement 

 EOL will allow the Clients or the CMI, as applicable, to look at the accounts held by
Eurofactor and to request information online. The available information indicates the status of the accounts as of the date of the last recorded entry. All updates are made overnight or at weekends. It is expressly stipulated to the Clients or the
CMI, as applicable, that the data available is provided for information purpose only and does not constitute acceptance of the balances by Eurofactor. 
  

	2.	Access to EOL and User Rights 

 (a) Access by Clients or the CMI, as applicable, will be protected by password
and is achieved thanks to remote data transfer using the application (of profile) of access data and of the password allocated to the Clients or the CMI, as applicable. At the request of the Clients or the CMI, as applicable, several profiles with
different user rights can be provided. The Clients or the CMI, as applicable, will be obliged to keep the access data and passwords secret and to avoid any misuse by third parties; they must also ensure that the users employed by their companies
also comply with this obligation. If the Clients or the CMI, as applicable, become aware of any misuse of the access data or passwords, they must inform Eurofactor immediately. In the event of misuse, Eurofactor will be entitled to block access to
EOL. The Clients or the CMI, as applicable, will be responsible for any misuse caused by them. 
 (b) Subject to this agreement and in accordance with the
present terms and conditions, the Clients or the CMI, as applicable, will be granted simple users rights for EOL, that will be limited to the term of the agreement and that cannot be transferred to third parties. The data requested can only be used
by the Clients or the CMI, as applicable, for their own needs. In particular, none of the Clients or the CMI will be authorized to collect, reproduce, copy to other data storage devices or store on any extraction systems any information from the
database or any IT programs relating to the database with the aim of external use by third parties. 

  

					
	Annex 4	  	1/2	  	

 Translation from the French for information purpose only 

 
  

	3.	Obligations of the Clients or the CMI, as applicable 

 The Clients or the CMI, as applicable, will be obliged to
provide the technical equipment required for access to EOL in their premises, in particular the hardware used and the operating system software, Internet access and an up-to-date browser. Eurofactor will give the Clients or the CMI, as applicable,
upon request, information regarding the browser to be used. On-line access will be installed upon request and at the expense of the Clients or the CMI, as applicable. The Clients or the CMI will bear all costs of terminal maintenance and
telecommunications costs. In the event of improvements to the software platforms or to any other component part of another technical system by Eurofactor, the Clients or the CMI, as applicable, will be obliged to take the necessary upgrade measures
on the software and the hardware being used, in accordance with the information provided by Eurofactor. The Clients or the CMI, as applicable, must use the updated protection software in order to be protected against computer viruses. Eurofactor
will not be liable for any damage caused by a virus that could have been avoided by this software. 
  

	4.	Modification and interruption of service rights 

 Eurofactor has the right to modify, adapt or limit the scope
of the data provided by EOL. In addition, Eurofactor reserves the right to interrupt EOL at any time. 
  

	5.	Copyright 

 EOL is a Eurofactor database, protected by copyright law. All computer programs related thereto are
also covered by this protection. Eurofactor may also exercise rights regarding all other elements of EOL, in particular related utilization rights and copyrights over the content and documents featured therein. 

 

	6.	Liability 

 Eurofactor will select and carry out data maintenance with great care. Eurofactor will not be liable
for the accuracy and integrality of any content. Database availability may be temporarily limited for technical reasons, such as necessary maintenance. 

  

					
	Annex 4	  	2/2EX-10.6

 Exhibit 10.6 
 INFORMATION SHARING AND COOPERATION AGREEMENT 
 This Information Sharing
and Cooperation Agreement, dated as of August 13, 2013 (this “Agreement”), is by and between Compass Diversified Holdings, a Delaware statutory trust, on its behalf and on behalf of its wholly-owned subsidiary Compass Group
Diversified Holdings LLC, a Delaware limited liability company (collectively, “CODI”), and Fox Factory Holding Corp., a Delaware corporation, on its behalf and on behalf of its wholly-owned subsidiary, Fox Factory, Inc., a
California corporation, and its affiliates (collectively, “FOX”). 
 RECITALS 

WHEREAS, CODI has acquired controlling interests in, and actively manages, a diversified group of leading middle-market businesses
headquartered in North America; 
 WHEREAS, CODI files reports pursuant to the Securities Exchange Act of 1934, as amended (the
“Exchange Act”), and is listed on the New York Stock Exchange (the “NYSE”); 
 WHEREAS, CODI
acquired a controlling interest in FOX on January 4, 2008; 
 WHEREAS, CODI and FOX currently contemplate that FOX will
engage in an initial public offering (“IPO”) of primary and secondary shares of FOX’s common stock (“Shares”) pursuant to the Registration Statement on Form S-1 filed with the Securities and Exchange Commission
(the “SEC”); 
 WHEREAS, in connection with the IPO, FOX will apply to list the Shares for trading on the
NASDAQ Global Market (“NASDAQ”); 
 WHEREAS, CODI’s majority ownership of FOX after the IPO will require
CODI to continue consolidating FOX’s financial statements with its own under U.S. generally accepted accounting principles (“GAAP”) and SEC reporting requirements; and 

WHEREAS, the parties intend that this Agreement, including all Exhibits hereto, set forth the principal arrangements between CODI and FOX
regarding the sharing of information and cooperation of the parties in connection with the preparation of each party’s financial statements and their respective reporting obligations under the Exchange Act, and their respective applicable
listing requirements, from and after the consummation of the IPO (the “Effective Date”). 
 NOW, THEREFORE, in
consideration of the foregoing recitals and the covenants and conditions set forth herein, and for other good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, the parties hereto agree as follows: 

 ARTICLE I 
 EXCHANGE OF INFORMATION; CONFIDENTIALITY 
 Section 1.01
Agreement for Exchange of Information; Archives. 
 (a) Each of CODI and FOX agrees to provide, or cause to be provided,
to the other at any time after the Effective Date, as soon as reasonably practicable after reasonable written request therefor, access to any information in the possession or under the control of such respective party that can be retrieved without
unreasonable disruption to its business, or other harm or consequence as described in (c) below, which the requesting party reasonably needs (i) to comply with reporting, disclosure, filing, record retention or other requirements imposed
on the requesting party (including under applicable securities or tax laws) by a governmental authority having jurisdiction over the requesting party, (ii) for use in any other judicial, regulatory, administrative, tax or other proceeding or in
order to satisfy audit, accounting, regulatory, litigation, environmental, tax or other similar requirements, in each case other than claims or allegations that one party to this Agreement has against the other party, or (iii) to comply with
its obligations under this Agreement. 
 (b) Subject to Section 1.01(a), after the Effective Date, each of CODI and FOX
agrees to provide, or cause to be provided, to the other, as soon as reasonably practicable after reasonable written request therefor, access during regular business hours (as in effect from time to time) to information that relates to the business
and operations of such requesting party that is located in archives retained or maintained by the other party (or, if such information does not exclusively relate to a party’s business, to the portions of such information that so exclusively
relates), subject to appropriate restrictions for proprietary, Privileged (as defined below) or confidential information and to the requirements of an applicable state and/or federal regulation, to the personnel, properties and information of such
party, and only insofar as (i) such access is reasonably required by the other party for legitimate business reasons, (ii) such access is only for the duration required, and (iii) the information relates to such other party or the
conduct of its business prior to the Effective Date. FOX or CODI, as applicable, may obtain copies (but not originals) at their own expense of such information for bona fide business purposes. Nothing herein shall be deemed to restrict the access of
the providing party to any information or to impose any liability on the providing party if any such information is not maintained or preserved by such party. 
 (c) In the event any party reasonably determines that any such provision of information could be commercially detrimental, violate any law or contractual restriction, or result in the waiver of any
Privilege, the parties shall take all commercially reasonable measures to permit the compliance with the provision of information obligations in a manner that avoids any such harm or consequence, which shall include, but not be limited to,
compliance with Sections 1.06, 1.07 and 1.08 hereof. For purposes of this Agreement, the term “Privilege” shall mean information and advice that has been previously developed but is legally protected from disclosure under legal
privileges, such as the attorney-client privilege, work product exemption or similar concept of legal protection. 

Section 1.02 Ownership of Information. Any information owned by one party that is provided to a requesting party pursuant to
the terms of this Agreement shall be deemed to remain the property of the providing party. Unless expressly set forth in this Agreement, nothing contained in this Agreement shall be construed as granting or conferring any right, title or interest
(whether by license or otherwise) in, to or under any such information. 

  
 2 

 Section 1.03 Record Retention. To facilitate the possible exchange of
information pursuant to this Article I and other provisions of this Agreement after the Effective Date, the parties agree to retain all information in their respective possession or control on the Effective Date in accordance with their respective
retention policies, as such policies may be reasonably amended or revised after the Effective Date. Each party shall provide the other party with reasonable notice of any material amendment or revision to its retention policy after the Effective
Date. 
 Section 1.04 Limitations of Liability. No party shall have any liability to any other party in the event
that any information exchanged or provided pursuant to this Agreement is found to be inaccurate or the requested information is not provided, in the absence of willful misconduct by, or gross negligence of, the party requested to provide such
information. No party shall have any liability to any other party if any information is destroyed in compliance with its respective retention policies, as such policies may be reasonably amended or revised after the Effective Date. 

Section 1.05 Other Agreements Providing for Exchange of Information. The rights and obligations granted under this Article I
are subject to any specific limitations, qualifications or additional provisions on the sharing, exchange, retention, rights to use, or confidential treatment of information set forth in any other agreement between the parties. 

Section 1.06 Confidentiality. 
 (a) Subject to Section 1.07, each of CODI and FOX (each, a “Receiving Party”), agrees to hold, and to cause its respective directors, officers, employees, agents, accountants,
counsel and other advisors and representatives to hold in strict confidence, with at least the same degree of care that applies to the confidential and proprietary information of CODI pursuant to policies in effect as of the Effective Date, all
information with respect to the other party (each, a “Disclosing Party”) that is accessible to it, in its possession (including information in its possession prior to the Effective Date) or furnished by the Disclosing Party, or
accessible to, in the possession of, or furnished to the Receiving Party pursuant to this Agreement or otherwise, except, in each case, to the extent that such information (i) is or becomes part of the public domain through no breach of this
Agreement by the Receiving Party or its directors, officers, employees, agents, accountants, counsel and other advisors and representatives, (ii) was independently developed following the Effective Date by employees or agents of the Receiving
Party or its directors, officers, employees, agents, accountants, counsel and other advisors and representatives who have not accessed or otherwise received the applicable information; provided that such independent development can be
demonstrated by competent, contemporaneous written records of the Receiving Party, (iii) becomes available to the Receiving Party following the Effective Date on a non-confidential basis from a third party who is not bound directly or
indirectly by a duty of confidentiality to the Disclosing Party; or (iv) is provided by the Disclosing Party and appropriately disclosed by the Receiving Party in accordance with the terms of Article II. 

  
 3 

 (b) Each party acknowledges that it may have in their possession confidential or proprietary
information of third parties that was received under confidentiality or non-disclosure agreements with such third party. Such party will hold in strict confidence the confidential and proprietary information of third parties to which they have
access in accordance with the terms of any such agreements. 
 (c) Each party further acknowledges that United States securities
laws prohibit any person who has material non-public information regarding the parties hereto from purchasing or selling securities of such party or from communicating such information to any other person under circumstances in which it is
reasonably foreseeable that such person is likely to purchase or sell such securities. 
 (d) Notwithstanding anything herein to
the contrary, following the Effective Date, CODI, its affiliates and Compass Group Management LLC, CODI’s manager, shall be permitted to (i) use the FOX trademark in their written materials when referencing FOX, (ii) provide
confidential information regarding FOX (including but not limited to historical financial and other information) to persons who have a legitimate reason to know such information and who are under an obligation to keep such information confidential,
and (iii) publish non-confidential information of FOX (including but not limited to historical financial and other information); provided, however, if CODI owns less than 20% of the outstanding shares of FOX and such non-confidential
information is material and has not previously been published, then CODI shall obtain FOX’s prior written consent to such publication. 
 (e) Notwithstanding anything to the contrary in this Article I, a party hereto shall have no right to use any information of the Disclosing Party unless otherwise provided for in this Agreement or
specifically provided for in any other agreement between the parties. 
 Section 1.07 Protective Arrangements. In
the event that the Receiving Party either determines on the advice of its counsel that it is required to disclose any information pursuant to applicable law (including the rules and regulations of the SEC or any national securities exchange) or
receives any request or demand from any governmental authority to disclose or provide information of the Disclosing Party that is subject to the confidentiality provisions hereof, such party shall notify the other party prior to disclosing or
providing such information and shall cooperate at the expense of such other party in seeking any reasonable protective arrangements (including by seeking confidential treatment of such information) requested by such other party. Subject to the
foregoing, the party that received such a request or determined that it is required to disclose information may thereafter disclose or provide information to the extent required by such law (as so advised by counsel) or requested or required by such
governmental authority; provided, however, that such party provides the other party, to the extent legally permissible, upon request with a copy of the information so disclosed. 

Section 1.08 Preservation of Legal Privileges. 
 (a) CODI and FOX recognize that they possess and will possess Privileged information. Each party recognizes that they shall be jointly entitled to the Privilege with respect to such Privileged information
and that each shall be entitled to maintain, preserve and assert for its own benefit all such information and advice, but both parties shall ensure that such 

  
 4 

 
information is maintained so as to protect the Privileges with respect to the other party’s interest. To that end, neither party will knowingly waive or compromise any Privilege associated
with such information and advice without the prior written consent of the other party, which shall not be unreasonably withheld. In the event that Privileged information is required to be disclosed to any arbitrator or mediator in connection with a
dispute between the parties, such disclosure shall not be deemed a waiver of Privilege with respect to such information, and any party receiving it in connection with a proceeding shall be informed of its nature and shall be required to safeguard
and protect it. 
 (b) Upon receipt by either party of any subpoena, discovery or other request that may call for the production
or disclosure of information that is the subject of a Privilege, or if a party obtains knowledge that any current or former employee of a party has received any subpoena, discovery or other request that may call for the production or disclosure of
such information, such party shall provide the other party a reasonable opportunity to review the information and to assert any rights it may have under this Section 1.08 or otherwise to prevent the production or disclosure of such information.
Absent receipt of written consent from the other party to the production or disclosure of information that may be covered by a Privilege, each party agrees that it will not produce or disclose any information that may be covered by a Privilege
unless a court of competent jurisdiction has entered a final, nonappealable order finding that the information is not entitled to protection under any applicable Privilege. 
 (c) CODI’s transfer of information to FOX, CODI’s agreement to permit FOX to obtain information existing prior to the Effective Date, FOX’s transfer of information to CODI and FOX’s
agreement to permit CODI to obtain information existing prior to the Effective Date are made in reliance on CODI’s and FOX’s respective agreements, as set forth in Section 1.06, Section 1.07 and this Section 1.08, to
maintain the confidentiality of such information and to take the steps provided herein for the preservation of all Privileges that may belong to or be asserted by CODI or FOX, as the case may be. The access to information being granted pursuant to
Section 1.01 hereof and the disclosure to CODI and FOX of Privileged information pursuant to this Agreement shall not be asserted by CODI or FOX to constitute, or otherwise deemed, a waiver of any Privilege that has been or may be asserted
under this Section 1.08 or otherwise. Nothing in this Agreement shall operate to reduce, minimize or condition the rights granted to CODI and FOX in, or the obligations imposed upon the parties by, this Section 1.08. 

ARTICLE II 

FINANCIAL COVENANTS 
 Section 2.01 Disclosure and Financial Controls. The parties agree that, from and after the Effective Date and for so long as CODI is required by GAAP and SEC reporting requirements to
consolidate the results of operations and financial position of FOX, that they will comply with the requirements set forth in this Section 2.01. Thereafter the parties agree that, from and after the period commencing when CODI no longer has to
consolidate the results of operations and financial position of FOX and during the period that CODI is still required to account for its investment in FOX under the equity method of accounting (determined in accordance with GAAP and consistent with
SEC reporting requirements) the parties will comply with Sections 2.01(c), 2.01(e) and 2.01(f) below. 

  
 5 

 (a) Disclosure of Financial Controls. FOX will: (i) maintain disclosure controls
and procedures and internal control over financial reporting as defined in Exchange Act Rule 13a-15; (ii) upon request by CODI, cause each of its principal executive and principal financial officers to sign and deliver certifications to
FOX’s periodic reports and will include the certifications in FOX’s periodic reports, as and when required pursuant to Exchange Act Rule 13a-14 and Item 601 of Regulation S-K; (iii) upon request by CODI, cause its management to
evaluate FOX’s disclosure controls and procedures and internal control over financial reporting (including any change in internal control over financial reporting) as and when required pursuant to Exchange Act Rule 13a-15; (iv) disclose in
its periodic reports filed with the SEC information concerning FOX management’s responsibilities for and evaluation of FOX’s disclosure controls and procedures and internal control over financial reporting (including, without limitation,
the annual management report and attestation report of FOX’s independent auditors relating to internal control over financial reporting) as and when required under Items 307 and 308 of Regulation S-K and other applicable SEC rules; and
(v) without limiting the general application of the foregoing, maintain internal systems and procedures that will provide reasonable assurance that its financial statements are reliable and timely prepared in accordance with GAAP and applicable
law. 
 (b) Fiscal Year. Neither party hereto will change its fiscal year without the prior written consent of the other
party. 
 (c) Monthly Financial Information. FOX will deliver to CODI, in a timely manner consistent with the practice of
the parties prior to the Effective Date, a trial balance sheet (so long as requested by CODI), an income statement and balance sheet, and supplemental data related to cash flows and other necessary disclosures, in substantially the form attached
hereto as Exhibit A, for each month. FOX will inform CODI as soon as reasonably possible of any material adjustments or changes to the foregoing that come to its attention. 

(d) Quarterly Financial Information. FOX will deliver to CODI, in a timely manner consistent with the practice of the parties
prior to the Effective Date, an income statement and balance sheet, and supplemental data related to cash flows and other necessary disclosures, in substantially the form attached hereto as Exhibit B, for each quarter. FOX will inform CODI as
soon as reasonably possible of any material adjustments or changes to the foregoing that come to its attention. 
 (e)
Quarterly Financial Statements. On a quarterly basis, FOX will deliver to CODI drafts of (i) the consolidated financial statements of FOX (and notes thereto) for the quarterly periods and for the period from the beginning of the current
fiscal year to the end of such quarter, setting forth in each case in comparative form for each such fiscal quarter of FOX the consolidated figures (and notes thereto) for the corresponding quarter and periods of the previous fiscal year prepared in
accordance with Article 10 of Regulation S-X and GAAP and (ii) a discussion and analysis by management of FOX’s financial condition and results of operations for such fiscal period, including, without limitation, an explanation of any
material period-to-period change and any 

  
 6 

 
off-balance sheet transactions, prepared in accordance with Item 303(b) of Regulation S-K. The information set forth in (i) and (ii) above is referred to in this Agreement as the
“FOX Quarterly Financial Statements.” As soon as reasonably possible with sufficient time for CODI to incorporate such information into its own financial statements and related disclosures, FOX will deliver to CODI the final form of
FOX Quarterly Financial Statements and certifications thereof by the principal executive and financial officers of FOX in substantially the forms required under the SEC rules for periodic reports; provided, however, that FOX may
continue to revise such Quarterly Financial Statements prior to its filing thereof in order to make corrections, updates and changes, which corrections, updates and changes, if substantive, will be delivered by FOX to CODI as soon as reasonably
possible. At CODI’s request, FOX’s representatives will consult and discuss with CODI’s representatives any such corrections, updates and changes. The foregoing requirement will not apply to the first quarterly reporting period of FOX
after the IPO if FOX is not required to file its Form 10-Q for such period within forty-five (45) days of the end of such quarter. 
 (f) Annual Financial Statements. On an annual basis, FOX will deliver to CODI drafts of (i) the consolidated financial statements of FOX (and notes thereto) for such year, setting forth in
each case in comparative form the consolidated figures (and notes thereto) for the previous fiscal years, prepared in accordance with Article 10 of Regulation S-X and GAAP and (ii) a discussion and analysis by management of FOX’s financial
condition and results of operations for such year, including, without limitation, an explanation of any material period-to-period changes and any off-balance sheet transactions, prepared in accordance with Item 303(a) and 305 of Regulation S-K.
The information set forth in (i) and (ii) above is referred to in this Agreement as the “FOX Annual Financial Statements.” As soon as reasonably possible and with sufficient time f or CODI to incorporate such information
into its own audited annual financial statements filed with the SEC (the “CODI Annual Statements”), FOX will deliver to CODI the final form of the FOX Annual Financial Statements, certifications thereof by the principal executive
and financial officers of FOX in substantially the forms required under the SEC rules for periodic reports and an opinion on the FOX Annual Financial Statements by FOX’s independent certified public accountants; provided, however,
that FOX may, if necessary, continue to revise such FOX Annual Financial Statements prior to the filing thereof in order to make corrections, updates and changes, which corrections, updates and changes, if substantive, will be delivered by FOX to
CODI as soon as reasonably possible. At CODI’s request, FOX’s representatives will consult and discuss with CODI’s representatives any such corrections, updates and changes. 

(g) Conformance of Financial Statements. Subject to the other terms in this Agreement, neither party hereto shall make or adopt
any significant changes to their respective accounting estimates or accounting policies and principles from those in effect on the Effective Date to the extent that such changes would materially and adversely impact the other party or the other
party’s obligations hereunder. Notwithstanding the previous sentence, nothing in this Agreement shall prevent either party from making those changes to their respective accounting estimates or accounting policies and principles if such changes
are required by GAAP or which the audit committee of such party determines are necessary or appropriate for the proper presentation of such party’s financial statements. In addition, prior to one party making changes to its accounting estimates
or accounting policies and principles, such party shall first consult with the other party and, if requested by the other party, such party’s independent certified public accountants. The parties shall give each other as much prior notice as
reasonably possible of any such changes and will consult with each other and their independent certified public accountants prior to making or adopting such changes. 

  
 7 

 (h) Company Reports Generally. FOX will deliver to CODI: (i) substantially final
drafts, as soon as reasonably possible, of (A) all reports on Forms 8-K, 10-K and 10-Q, Annual Reports to Stockholders and proxy statements, and (B) all Registration Statements and Prospectuses to be filed by FOX with the SEC or any
securities exchange pursuant to the NASDAQ Listing Rules (collectively, the documents identified in clauses (A) and (B) are referred to in this Agreement as “FOX Public Documents”), and (ii) as soon as reasonably
possible prior to the earliest of the dates the same are printed, sent or filed, current drafts of all such FOX Public Documents; provided, however, that FOX may continue to revise such FOX Public Documents prior to the filing thereof
in order to make corrections, updates and changes, which will be delivered by FOX to CODI as soon as reasonably possible. At CODI’s request, FOX’s representatives will consult and discuss with CODI’s representatives any such
corrections, updates and changes. 
 (i) Budgets and Financial Projections. Consistent with practices prior to the
Effective Date, FOX will, as soon as such budgets and financial projections are prepared and approved by the FOX board of directors, deliver to CODI copies of all annual budgets and financial projections relating to FOX on a consolidated basis and
will provide CODI an opportunity to meet with management of FOX to discuss such budgets and projections. 
 (j) Press
Releases and Similar Information. FOX and CODI will consult with each other as to the timing of their annual and quarterly earnings releases and any interim financial guidance for a current or future period and, to the extent reasonably
possible, will give each other the opportunity to review and comment on the information therein relating to the other. If the parties are unable to agree as to such timing, then CODI and FOX shall each make reasonable efforts to issue their
respective annual and quarterly earnings releases at approximately the same time on the same date, which will include for these purposes during the same period of time beginning after the close of market on one day and ending just prior to the
opening of market on the next day. CODI and FOX agree to consult with each other as to the timing of their respective earnings release conference calls. In addition, each party hereto agrees, a reasonable period of time prior to the time and date
that it intends to publish its regular annual or quarterly earnings release or issue any financial guidance for a current or future period, that such party will deliver to the other party copies of substantially final drafts of all related press
releases and other statements to be made available by that party to the public concerning any matters that could be reasonably related to, or otherwise likely to have a material financial impact on the earnings, results of operations, financial
condition or prospects of FOX. In addition, prior to the issuance of any such press release or public statement, the issuing party will, to the extent reasonably practicable, consult with the other party regarding any changes (other than
typographical or other minor changes) to such substantially final drafts. 
 (k) Cooperation on CODI Filings. FOX agrees
to provide to CODI, and to instruct the FOX Auditors (as defined below) to provide to CODI, all material information with respect to FOX that CODI reasonably requires in connection with the preparation by CODI of its Quarterly Reports on Form 10-Q,
Annual Reports to Shareholders, Annual Reports on Form 10-K, 

  
 8 

 
any Current Reports on Form 8-K and Registration Statements, or other filings made by CODI with the SEC, any national securities exchange or otherwise made publicly available with respect to the
disclosures pertaining to FOX (collectively, the “CODI Public Filings”). The parties agree to reasonably cooperate with each other with respect to the requesting and furnishing of such required information in order to enable CODI to
file all CODI Public Filings within the deadlines as required by applicable law. FOX will cause the FOX Auditors (as defined below) to consent to any reference to them as experts in any CODI Public Filings required under any law, rule or regulation.
CODI agrees a reasonable period of time prior to the time and date that it intends to file such CODI Public Filings that it will provide to FOX substantially final drafts of the portions of any CODI Public Filings that disclose or otherwise
reasonably relate to FOX or its earnings, results of operations, financial condition or prospects prior to the filing of such CODI Public Filings. Prior to the filing any such CODI Public Filing, CODI will, to the extent reasonably practicable,
consult with FOX regarding any changes (other than typographical or other minor changes) to such substantially final drafts. 

(l) Other Information. FOX will promptly deliver to CODI such additional financial and other information and data with respect to
FOX and FOX’s business, properties, financial position, results of operations and prospects as may be reasonably requested by CODI from time to time. In addition, FOX will (i) during the period that CODI is still required to account for
its investment in FOX under the equity method of accounting (determined in accordance with GAAP and consistent with SEC reporting requirements), cause its appropriate personnel (as determined by CODI and FOX) to continue participating in CODI’s
quarterly disclosure committee conferences as directed by CODI, and (ii) by January 31 of each calendar year, provide CODI with the characterization of all dividends paid for the prior calendar year. 

Section 2.02 Auditors and Audits; Annual Statements and Accounting. The parties agree that, from and after the Effective Date
and for so long as CODI is required by GAAP and SEC reporting requirements to consolidate the results of operations and financial position of FOX, that they will comply with the requirements set forth in this Section 2.02. Thereafter the
parties agree that, commencing from and after the period when CODI no longer has to consolidate the results of operations and financial position of FOX and during which CODI is required to account for its investment in FOX under the equity method of
accounting (determined in accordance with GAAP and consistent with SEC reporting requirements) that the parties will comply with Sections 2.02(d) and 2.02(e) of this Article II. 

(a) Selection of FOX Auditors. FOX will use commercially reasonable efforts to select the same registered public accounting firm
as CODI to serve as FOX’s independent registered public accounting firm (the “FOX Auditors”); provided, however, that the FOX Auditors may be different from CODI’s auditors if (i) CODI consents, which consent shall
not be unreasonably withheld, or (ii) it is necessary to comply with applicable laws and listing requirements regarding auditor independence and qualifications. Further, nothing in this Agreement shall be construed so as to unlawfully limit any
responsibility or authority of the audit committee of FOX’s board of directors, pursuant to Rule 10A-3(b)(2) under the Exchange Act or any listing requirement applicable to FOX or other rule or legal requirement applicable to FOX and its audit
committee, to appoint, compensate, retain and oversee the work of the independent registered public accounting firm FOX engages. Notwithstanding the foregoing, nothing in this Agreement shall be construed as requiring FOX to change the FOX Auditors
in the middle of a fiscal year if the audit committee of FOX’s board of directors determines that such change would cause FOX unreasonable expense or delay with respect to the preparation and review of the FOX Quarterly Financial Statements or
the preparation and audit of the FOX Annual Statements. Each of the parties hereto shall provide the other party with as much prior written notice as reasonably practical of any change in their respective independent registered public accounting
firm. 

  
 9 

 (b) Audit Timing. Beginning with fiscal year 2013, FOX will enable the FOX Auditors
to complete their audit of the FOX Annual Statements such that they will date their opinion on the FOX Annual Statements on or before the same date that CODI’s independent registered public accountants (the “CODI Auditors”)
date their opinion on the CODI Annual Statements, all in accordance with Section 2.01(f) hereof and as required by applicable law. 
 (c) Quarterly Review. FOX shall enable the FOX Auditors to complete their quarterly review procedures on the FOX Quarterly Financial Statements so that the CODI Auditors have sufficient time
complete their quarterly review procedures on CODI’s quarterly financial statements. 
 (d) Access to the FOX
Auditors. FOX will authorize the FOX Auditors to make reasonably available to the CODI Auditors both the personnel who performed, or are performing, the annual audit and quarterly reviews of FOX and work papers related to the annual audit and
quarterly reviews of FOX, in all cases within a reasonable time prior to the FOX Auditors’ opinion date, so that the CODI Auditors are able to perform the procedures they consider necessary to take responsibility for the work of the FOX
Auditors as it relates to the CODI Auditors’ report on CODI’s statements. 
 (e) Access to Records. If CODI
determines in good faith that there may be some material inaccuracy in FOX’s financial statements or deficiency or inadequacy in FOX’s internal accounting controls or operations that could materially impact CODI’s financial
statements, CODI must promptly notify FOX of such determination and the basis for such determination, and at CODI’s request, FOX will provide CODI’s internal auditors with reasonable access to FOX’s books and records so that CODI may
conduct reasonable audits relating to the financial statements provided by FOX under this Agreement, as well as to the internal accounting controls and operations of FOX. 
 (f) Special Reports of Deficiencies, Violations or Events Requiring the Filing of a Current Report on Form 8-K. To the extent material to CODI, FOX will report in reasonable detail to CODI the
following events or circumstances promptly after any executive officer of FOX or the audit committee of the board of directors of FOX becomes aware of such matter: (A) all significant deficiencies and material weaknesses in the design or
operation of internal control over financial reporting which are reasonably likely to adversely affect FOX’s ability to record, process, summarize and report financial information; (B) any fraud that involves management or other employees
who have a significant role in FOX’s internal control over financial reporting; (C) any illegal act within the meaning of Section 10A(b) and (f) of the Exchange Act; (D) any report of a material violation of law that an
attorney representing FOX has formally made to any officers or directors of FOX pursuant to the SEC’s attorney conduct rules (17 C.F.R. Part 205); and (E) until CODI’s ownership interest in FOX is less than 20% of the Shares, any
event or circumstance that requires the filing of a Current Report on Form 8-K (which shall include all reports reportable pursuant to Item 8.01 of Form 8-K). 

  
 10 

 ARTICLE III 
 DISPUTE RESOLUTION 
 Section 3.01 Limitation on Monetary
Damages; Equitable Remedies. FOX and CODI hereby agree that neither party shall have any liability for monetary damages for any breach of this Agreement so long as such party used commercially reasonable efforts to comply with the obligation
such party breached and continues thereafter to use commercially reasonable efforts to remedy such breach. In addition to other remedies provided by applicable law, FOX and CODI may each enforce the provisions of this Agreement through such legal or
equitable remedies as a court of competent jurisdiction shall allow without the necessity of proving actual damages or bad faith, and the party subject to a claim under this Agreement hereby waives any claim or defense that such party has an
adequate remedy at law, and waives any requirement for the securing or posting of any bond in connection with such equitable remedy. 
 Section 3.02 Disputes. The procedures for discussion, negotiation and mediation set forth in this Article III shall apply to all disputes, controversies or claims (whether arising in contract,
tort or otherwise) that may arise out of or relate to, or arise under or in connection with, this Agreement or the transactions contemplated hereby or thereby (including all actions taken in furtherance of the transactions contemplated hereby on the
Effective Date). FOX hereby agrees that its lead independent director or other member of the board of directors or senior management that is not affiliated with CODI shall lead all discussions, negotiations and mediations that occur pursuant to this
Article III. 
 Section 3.03 Escalation; Mediation. 

(a) It is the intent of the parties to use their respective commercially reasonable efforts to resolve expeditiously any dispute,
controversy or claim between or among them with respect to the matters covered by this Agreement. In furtherance of the foregoing, any party involved in a dispute, controversy or claim with respect to such matters may deliver a notice (an
“Escalation Notice”) demanding an in person meeting involving representatives of the parties at a senior level of management of the parties (or if the parties agree, of the appropriate strategic business unit or division within such
entity). A copy of any such Escalation Notice shall be given to the general counsel, or like officer or official, of each party involved in the dispute, controversy or claim (which copy shall state that it is an Escalation Notice pursuant to this
Agreement). Any agenda, location or procedures for such discussions or negotiations between the parties may be established by the parties from time to time; provided, however, that the parties shall use their commercially reasonable
efforts to meet within 30 days of the Escalation Notice. 
 (b) If the parties are not able to resolve the dispute, controversy
or claim through the escalation process referred to above, then the matter shall be referred to mediation. The parties shall retain a mediator to aid the parties in their discussions and negotiations by informally providing advice to the parties.
Any opinion expressed by the mediator shall be strictly advisory and shall not be binding on the parties, nor shall any opinion expressed by the mediator be admissible in any other proceeding. The mediator may be chosen from a list of mediators
previously selected by the parties or by other agreement of the parties. Costs of the mediation shall be borne equally by the parties involved in the matter, except that each party shall be responsible for its own expenses. Mediation shall be a
prerequisite to the commencement of any action by either party. 

  
 11 

 Section 3.04 Court Actions. 

(a) In the event that any party, after complying with the provisions set forth in Section 3.03 above, desires to commence an
action, such party, subject to Section 6.15, may submit the dispute, controversy or claim (or such series of related disputes, controversies or claims) to any court of competent jurisdiction as set forth in Section 6.15. 

(b) Unless otherwise agreed in writing, the parties will continue to provide service and honor all other commitments under this Agreement
during the course of dispute resolution pursuant to the provisions of this Article III, except to the extent such commitments are the subject of such dispute, controversy or claim. 

ARTICLE IV 

FURTHER ASSURANCES 
 Section 4.01 Further Assurances. 
 (a) In addition to the actions
specifically provided for elsewhere in this Agreement, each of the parties hereto will cooperate with each other and shall use their commercially reasonable efforts to take, or cause to be taken, all actions, and to do, or cause to be done, all
things, reasonably necessary, proper or advisable under applicable laws, regulations and agreements to consummate and make effective the transactions contemplated by this Agreement. 

(b) Without limiting the foregoing, prior to, on and after the Effective Date, each party hereto shall cooperate with the other party,
and without any further consideration, but at the expense of the requesting party, to execute and deliver, or use its commercially reasonable efforts to cause to be executed and delivered, all instruments, including instruments of conveyance,
assignment and transfer, and to make all filings with, and to obtain all consents, approvals or authorizations of, any governmental authority or any other person or entity under any permit, license, agreement, indenture, order, decree, financial
assurance (including letter of credit) or other instrument, and to take all such other actions as such party may reasonably be requested to take by such other party hereto from time to time, consistent with the terms of this Agreement. 

(c) Nothing in this Agreement shall be construed to restrict or limit any right, responsibility or authority of either of parties hereto
or their respective, independent registered public accountants, audit committee or board of directors in violation of any law, legal requirement or listing standard applicable to such party, whether existing today or hereafter. In the event either
party hereto reasonably determines that any provision in this Agreement does or will so limit any right, responsibility or authority of such party or such party’s independent registered public accountants, audit committee or board of directors,
then the parties hereto agree to attempt to negotiate in good faith any changes necessary or advisable to this Agreement to avoid or prevent such violation. 

  
 12 

 ARTICLE V 
 TERMINATION 
 Section 5.01 Termination. 

(a) This Agreement may be terminated at any time after Effective Date by mutual consent of CODI and FOX. 

(b) Except as otherwise expressly set forth herein, this Agreement will automatically terminate at such time as CODI is no longer
required to account for its investment in FOX under the equity method of accounting (determined in accordance with GAAP and consistent with SEC reporting requirements); provided that certain of obligations of the parties contained in Article II
shall terminate when CODI is no longer required to consolidate the results of operations and financial position of FOX as provided for in Section 2.01 and Section 2.02. 

Section 5.02 Effect of Termination. Except as otherwise set forth herein, in the event of any termination of this Agreement,
no party to this Agreement (or any of its directors, officers, members or managers) shall have any liability or further obligation to any other party. 
 ARTICLE VI 
 MISCELLANEOUS 

Section 6.01 Counterparts; Entire Agreement; Conflicting Agreements. 

(a) This Agreement may be executed in one or more counterparts, all of which shall be considered one and the same agreement, and
shall become effective when one or more counterparts have been signed by each of the parties and delivered to the other party. Execution of this Agreement or any other documents pursuant to this Agreement by facsimile or other electronic
transmission shall be deemed to be, and shall have the same effect as, executed by an original signature. 
 (b) This Agreement
and the Exhibits hereto contain the entire agreement of the parties with respect to the subject matter hereof, supersede all previous agreements, negotiations, discussions, writings, understandings, commitments and conversations with respect to such
subject matter and there are no agreements or understandings between the parties with respect to such subject matter other than those set forth or referred to herein or therein. 

(c) In the event of any inconsistency between this Agreement and any Exhibit hereto, the Exhibit shall prevail. In the event and to the
extent that there shall be a conflict between the provisions of this Agreement and the provisions of any other agreement between the parties, the other agreement shall control with respect to the subject matter thereof, and this Agreement shall
control with respect to all other matters. 

  
 13 

 Section 6.02 No Construction Against Drafter. The parties acknowledge that this
Agreement and all the terms and conditions herein have been fully reviewed and negotiated by the parties and their respective attorneys. Having acknowledged the foregoing, the parties agree that any principle of construction or rule of law that
provides that, in the event of any inconsistency or ambiguity, an agreement shall be construed against the drafter of the agreement shall have no application to the terms and conditions of this Agreement. 

Section 6.03 Governing law. This Agreement shall be governed by and construed and interpreted in accordance with the laws of
the State of Delaware, without regard to the conflict of laws principles thereof that would result in the application of any law other than the laws of the State of Delaware. 
 Section 6.04 Assignability. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns; provided,
however, that no party hereto may assign its respective rights or delegate its respective obligations under this Agreement without the express prior written consent of the other party or parties hereto. 

Section 6.05 Notices. All notices or other communications under this Agreement shall be in writing and shall be deemed to be
duly given when (a) delivered in person or (b) deposited in the United States mail or private express mail, postage prepaid, addressed as follows: 
 If to CODI, to: 
 Compass Diversified Holdings 

Sixty One Wilton Road 
 Westport, Connecticut 06880 
 Attention: Chief Financial Officer 

If to FOX to: 

Fox Factory Holding Corp. 
 915 Disc Drive 
 Scotts Valley, CA 95066 

Attn: Chief Financial Officer 

Any party may, by notice to the other party, change the address to which such notices are to be given. 

Section 6.06 Severability. If any provision of this Agreement or the application thereof to any person or circumstance is
determined by a court of competent jurisdiction to be invalid, void or unenforceable, the remaining provisions hereof or the application of such provision to persons or circumstances or in jurisdictions other than those as to which it has been held
invalid or unenforceable, shall remain in full force and effect and shall in no way be affected, impaired or invalidated thereby, so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner
adverse to any party. Upon such determination, the parties shall negotiate in good faith in an effort to agree upon such a suitable and equitable provision to effect the original intent of the parties. 

  
 14 

 Section 6.07 Force Majeure. No party shall be deemed in default of this
Agreement to the extent that any delay or failure in the performance of its obligations under this Agreement results from any cause beyond its reasonable control and without its fault or negligence, such as acts of God, acts of civil or military
authority, embargoes, epidemics, war, riots, insurrections, fires, explosions, earthquakes, floods, unusually severe weather conditions or labor problems. In the event of any such excused delay, the time for performance shall be extended for a
period equal to the time lost by reason of the delay. 
 Section 6.08 Headings. The article, section and paragraph
headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. 
 Section 6.09 Survival. Sections 1.02, 1.04, 1.06, 1.07, 1.08, Article III and Article VI of this Agreement shall remain in full force and effect following the termination of this Agreement.

 Section 6.10 Waivers of Default. Waiver by any party of any default by the other party of any provision of this
Agreement shall not be deemed a waiver by the waiving party of any subsequent or other default, nor shall it prejudice the rights of the other party. 
 Section 6.11 Specific Performance. In the event of any actual or threatened default in, or breach of, any of the terms, conditions and provisions of this Agreement, the party or parties who
are or are to be thereby aggrieved shall have the right to specific performance and injunctive or other equitable relief of its rights under this Agreement, in addition to any and all other rights and remedies at law or in equity, and all such
rights and remedies shall be cumulative. 
 Section 6.12 Amendments. No provisions of this Agreement shall be deemed
waived, amended, supplemented or modified by any party, unless such waiver, amendment, supplement or modification is in writing and signed by an authorized representative of the party against whom it is sought to enforce such waiver, amendment,
supplement or modification. 
 Section 6.13 Interpretation. Words in the singular shall be held to include the
plural and vice versa and words of one gender shall be held to include the other genders as the context requires. The terms “hereof”, “herein” and “herewith” and words of similar import shall, unless otherwise stated,
be construed to refer to this Agreement as a whole (including all of the Exhibits hereto) and not to any particular provision of this Agreement. Article, Section and Exhibit references are to the Articles and Sections to this Agreement unless
otherwise specified. The word “including” and words of similar import when used in this Agreement shall mean “including, without limitation,” unless the context otherwise requires or unless otherwise specified. 

Section 6.14 Waiver of Jury Trial. SUBJECT TO ARTICLE III AND SECTIONS 6.10 AND 6.14 HEREIN, EACH OF THE PARTIES HEREBY
WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY COURT PROCEEDING DIRECTLY OR INDIRECTLY 

  
 15 

 
ARISING OUT OF AND PERMITTED UNDER OR IN CONNECTION WITH THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT. EACH OF THE PARTIES HEREBY (A) CERTIFIES THAT NO REPRESENTATIVE,
AGENT OR ATTORNEY OF THE OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT HAS BEEN INDUCED TO ENTER INTO THIS
AGREEMENT AND THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT, AS APPLICABLE, BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 6.13. 
 Section 6.15 Submission to Jurisdiction; Waivers. With respect to any action relating to or arising out of this Agreement, subject to the provisions of Article III, each party to this
Agreement irrevocably (a) consents and submits to the exclusive jurisdiction of the courts of the State of Delaware and any court of the United States located in Delaware; (b) waives any objection which such party may have at any time to
the laying of venue of any action brought in any such court, waives any claim that such action has been brought in an inconvenient forum and further waives the right to object, with respect to such action, that such court does not have jurisdiction
over such party; and (c) consents to the service of process at the address set forth for notices in Section 6.05 herein; provided, however, that such manner of service of process shall not preclude the service of process in
any other manner permitted under applicable law. 
 Section 6.16 No Third-Party Beneficiaries. This Agreement is not
intended, nor shall it be deemed, to confer any rights or remedies on any person other than the parties hereto and their respective successors and assigns. This Agreement does not create any third-party beneficiary hereto and FOX and CODI are the
only persons entitled to commence any action, proceeding or claim under this Agreement. 
 Section 6.17 Expenses.
Each party is responsible for its own fees, costs and expenses incurred in connection with this Agreement and the transactions contemplated hereby. 
 [Signature page immediately follows.] 

  
 16 

 IN WITNESS WHEREOF, the parties have caused this Information Sharing and Cooperation
Agreement to be executed by their duly authorized representatives as of the date first set forth above. 
  

			
	COMPASS DIVERSIFIED HOLDINGS
		
	 By:
	 	/s/ James J. Bottiglieri
		
	 Name:
	 	James J. Bottiglieri
		
	 Title:
	 	Chief Financial Officer

  

			
	 FOX FACTORY HOLDING CORP.

		
	 By:
	 	/s/ Zvi Glasman
		
	 Name:
	 	Zvi Glasman
		
	 Title:
	 	Chief Financial Officer

  
 17

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00223-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00223-of-00352.parquet"}]]