Document:

EX-10.3

 Exhibit 10.3 
  

 
  

WARRANTHOLDER RIGHTS AGREEMENT 

AMONG 
 AFFINION GROUP
HOLDINGS, INC., 
 AFFINION GROUP HOLDINGS LLC, 

GENERAL ATLANTIC PARTNERS 79, L.P., 

GAP-W HOLDINGs, L.P., 

GAPSTAR, LLC, 
 GAPCO
GMBH & CO. KG, 
 GAP COINVESTMENTS III, LLC, 

GAP COINVESTMENTS IV, LLC 

AND 
 THE HOLDERS FROM
TIME TO TIME PARTY HERETO 
 DATED DECEMBER 12, 2013 
  

 
  

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
			
	 Section 1.
	 	 Definitions
	  	 	1	  
			
	 Section 2.
	 	 Certain Transfers; Pre-emptive Rights
	  	 	10	  
			
	 Section 3.
	 	 Transfers; Additional Parties
	  	 	18	  
			
	 Section 4.
	 	 Information Rights; Confidentiality
	  	 	20	  
			
	 Section 5.
	 	 Notices
	  	 	22	  
			
	 Section 6.
	 	 Representations and Warranties
	  	 	22	  
			
	 Section 7.
	 	 Covenants
	  	 	27	  
			
	 Section 8.
	 	 Miscellaneous Provisions
	  	 	31	  

 WARRANTHOLDER RIGHTS AGREEMENT dated as of December 12, 2013 (this
“Agreement”), among AFFINION GROUP HOLDINGS, INC., a Delaware corporation (the “Company”), AFFINION GROUP HOLDINGS, LLC (“Apollo”), GENERAL ATLANTIC PARTNERS 79, L.P.
(“GAP 79”), GAP-W HOLDINGS, L.P. (“GAP-W”), GAPSTAR, LLC (“GapStar”), GAPCO GMBH & CO. KG (“GAPCO”), GAP COINVESTMENTS III, LLC
(“GAP Coinvest III”) and GAP COINVESTMENTS IV, LLC (“GAP Coinvest IV”, and together with GAP 79, GAP-W, GapStar, GAPCO and GAP Coinvest III, “General Atlantic”) and the Holders
from time to time party hereto. 
 WHEREAS, in connection with the proposed restructuring of the Company’s and its
subsidiaries’ outstanding indebtedness pursuant to (i) exchange offers for the Company’s outstanding 11.625% Senior Notes due 2015 and Affinion Group, Inc.’s, the Company’s wholly owned subsidiary (“AGI”),
outstanding 11 1⁄2% Senior Subordinated Notes due 2015 and (ii) amendments to AGI’s amended and restated credit agreement (collectively, the
“Transactions”), the Company will issue Warrants (as defined below) to certain investors participating in the Transactions; 

WHEREAS, upon the exercise of Warrants, the holders thereof will receive shares of Common Stock (as defined below); and 

WHEREAS, the parties hereto desire to grant certain rights and privileges, and impose certain obligations and restrictions, on the
holders of the Warrants and the Common Stock issuable upon the exercise thereof. 
 THEREFORE, in consideration of the premises and
of the mutual consents and obligations hereinafter set forth, the parties hereto hereby agree as follows: 
 Section 1. Definitions. As used
in this Agreement: 
 “Accelerated Buyer” has the meaning ascribed to such term in Section 2(a)(iv). 

“Affiliate” of a Person that is not a natural person means any other Person that directly, or indirectly through one or more
intermediaries, controls, or is controlled by, or is under common control with, such Person. As used in this definition, the term “control,” including the correlative terms “controlling,” “controlled by” and “under
common control with,” means the possession, directly or indirectly, of the power to direct or cause the direction of management or policies (whether through ownership of Securities or any partnership or other ownership interest, by contract or
otherwise) of a Person. The term “Affiliate” shall not include at any time (i) any portfolio companies of (1) Apollo Management V, L.P. or its affiliates or (2) General Atlantic LLC or its affiliates other than for purposes
of Sections 7(a)(i), 7(c)(i) and 7(c)(iii) (in respect of which the term “Affiliate” may include any portfolio companies of (1) Apollo Management V, L.P. or its affiliates or (2) General Atlantic LLC or its affiliates) or
(ii) in the case of any party hereto, the Company. 
 “Affiliate” of a Person that is an individual means:
(i) any member of the immediate family of such Person, including parents, siblings, spouse and children (including those by adoption); the parents, siblings, spouse, or children (including those by adoption) of such immediate family member, and
in any such case any trust whose primary beneficiary is such 

  
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individual Person or one or more members of such immediate family and/or such Person’s lineal descendants; (ii) the legal representative or guardian of such individual Person or of any
such immediate family member in the event such individual Person or any such immediate family member becomes mentally incompetent; and (iii) any other Person controlling, controlled by or under common control with such Person. As used in this
definition, the term “control,” including the correlative terms “controlling,” “controlled by” and “under common control with,” means possession, directly or indirectly, of the power to direct or cause the
direction of management or policies (whether through ownership of Securities or any partnership or other ownership interest, by contract or otherwise) of a Person. 

“Affiliated Holder” has the meaning ascribed to such term in Section 7(b)(i). 

“AGI” has the meaning ascribed to such term in the recitals hereof. 

“AGI Board” means the board of directors of AGI. 

“Agreement” has the meaning ascribed to such term in the introductory paragraph hereof. 

“Apollo” has the meaning ascribed to such term in the introductory paragraph hereof. 

“Apollo Group” means investment funds managed by Apollo Management V, L.P., a Delaware limited partnership, Apollo Global
Management, LLC, a Delaware limited liability company, or any of their respective Affiliates. 
 “Ares” means Ares
Management LLC, on behalf of investment funds and/or investment vehicles managed and/or co-managed by Ares Management LLC and/or its Affiliates. 

“Asset Acquirer” means a Person who enters into a legally binding contract to purchase assets in a Dragged Asset Sale. 

“beneficially owned”, “beneficial ownership” and similar phrases have the same meanings as such terms have
under Rule 13d-3 (or any successor rule then in effect) under the Exchange Act. For the avoidance of doubt, each Legacy Stockholder shall be deemed to beneficially own all of the shares of Common Stock held by any of its Affiliates. Notwithstanding
anything to the contrary set forth in this Agreement, no Holder shall be deemed to have agreed with any other Holder to act together for the purpose of acquiring, holding, voting or disposing of the Common Stock or to form a “group” (as
such term is used in Rule 13d-5 under the Exchange Act), in each case, solely as a result of the existence of this Agreement, the Securityholder Rights Agreement or the Stockholder Agreement. 

“Board” means the Board of Directors of the Company and any duly authorized committee thereof. All determinations by the
Board required pursuant to the terms of this Agreement to be made by the Board shall be binding and conclusive, if made in good faith. 

“Business Day” means any day other than a Saturday, a Sunday or a day on which banks in New York, New York are authorized or
obligated by Law or executive order to close. 
 “By-Laws” means the By-laws of the Company (as in effect from time to
time). 

  
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 “Class A Common Stock” means the class A common stock of the Company, par value
$0.01 per share. 
 “Class B Common Stock” means the class B common stock of the Company, par value $0.01 per share. 

“Common Stock” means the Class A Common Stock and Class B Common Stock, collectively. 

“Company” has the meaning ascribed to such term in the introductory paragraph hereof. 

“Confidential Information” has the meaning ascribed to such term in Section 4(c). 

“Consulting Agreement” means that certain amended and restated consulting agreement, dated as of the date hereof, between the
Company and Apollo Management V, L.P. 
 “Consulting Fee” shall have the meaning ascribed to such term in the Consulting
Agreement. 
 “Control Disposition” means a Transfer which would have the effect of transferring to a Person or Group, in
each case consisting solely of unaffiliated third parties (for the avoidance of doubt, prior to a Control Event, any Affiliate or a portfolio company of a Legacy Stockholder shall be deemed not to be an unaffiliated third party), a number of shares
of Common Stock such that, following the consummation of such Transfer, such Person or Group possesses the voting power to elect a majority of the Board (whether by merger, consolidation or sale or Transfer of Common Stock). For the avoidance of
doubt, neither the Control Event, should it occur, nor the resultant right of the holders of Class B Common Stock to nominate and elect a majority of the Board shall constitute a Control Disposition. 

“Control Event” shall have the meaning ascribed to such term in the Warrant Agreement. 

“Director” means a director of the Company. 

“Drag-Along Notice” has the meaning ascribed to such term in Section 2(b)(ii). 

“Drag-Along Percentage” means a fraction (expressed as a percentage), the numerator of which is the total number of issued
and outstanding shares of Common Stock that the Dragging Parties (together with their respective Affiliates) desire to Transfer in the Drag-Along Transaction and the denominator of which is the total number of issued and outstanding shares of Common
Stock beneficially owned by the Dragging Parties (together with its respective Affiliates) at the time immediately prior to such Drag-Along Transaction. 

“Drag-Along Right” has the meaning ascribed to such term in Section 2(b)(i). 

“Drag-Along Shares” has the meaning ascribed to such term in Section 2(b)(ii). 

“Drag-Along Transaction” has the meaning ascribed to such term in Section 2(b)(i). 

  
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 “Dragged Asset Sale” has the meaning ascribed to such term in
Section 2(b)(vii). 
 “Dragged Asset Sale Holder” has the meaning ascribed to such term in
Section 2(b)(vii). 
 “Dragged Asset Sale Notice” has the meaning ascribed to such term in
Section 2(b)(viii). 
 “Dragged Asset Sale Right” has the meaning ascribed to such term in
Section 2(b)(vii). 
 “Dragged Holder” has the meaning ascribed to such term in Section 2(b)(i).

 “Dragging Parties” has the meaning ascribed to such term in Section 2(b)(i). 

“Effective Date” means December 12, 2013. 

“Empyrean” means Empyrean Capital Partners, L.P. 

“Encumbrances” means any direct or indirect encumbrances, lien, pledge, security interest, claim, charges, option, right of
first refusal or offer, mortgage, deed of trust, easement, or any other restriction or third-party right, including restrictions on the right to vote equity interests, in each case, other than as created pursuant to this Agreement, the
Securityholder Rights Agreement, the Stockholder Agreement, the Registration Rights Agreement or the MIRA. 
 “Equityholder
Agreement” means the Stockholder Agreement and the Securityholder Agreement. 
 “Exchange Act” means the
Securities Exchange Act of 1934, as amended, and the rules and regulations thereunder. 
 “Exercisable Warrants” means
collectively the Series A Warrants and, after a Control Event has occurred, if ever, the Series B Warrants. 
 “Excluded
Securities” has the meaning ascribed to such term in Section 2(a)(v). 
 “GAP 79” has the meaning
ascribed to such term in the introductory paragraph hereof. 
 “GAPCO” has the meaning ascribed to such term in the
introductory paragraph hereof. 
 “GAP Coinvest III” has the meaning ascribed to such term in the introductory paragraph
hereof. 
 “GAP Coinvest IV” has the meaning ascribed to such term in the introductory paragraph hereof. 

“GapStar” has the meaning ascribed to such term in the introductory paragraph hereof. 

“GAP-W” has the meaning ascribed to such term in the introductory paragraph hereof. 

“General Atlantic” has the meaning ascribed to such term in the introductory paragraph hereof. 

  
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 “General Atlantic Group” means General Atlantic LLC and its affiliated
investment partnerships. 
 “Government Entity” means any federal, national, supranational, state, provincial,
commonwealth, local or foreign or similar government, governmental subdivision, regulatory or administrative body or other governmental or quasi-governmental agency, tribunal, commission, court, judicial or arbitral body or other entity with
competent jurisdiction. 
 “Group” has the meaning ascribed to such term in Section 13(d)(3) of the Exchange Act. 

“Holder Group” means the Holders, collectively. Unless otherwise expressly indicated herein, the exercise of any rights or
privileges of the Holder Group hereunder, including without limitation any consent rights, waivers, or nominating rights, shall be by the Holder Group Majority. 

“Holder Group Majority” means the Holders that beneficially own a majority of the Warrant Shares held by all Holders. 

“Holders” means the holders of the issued and outstanding Warrants or Warrant Shares who are parties hereto, other than the
Company, Apollo, General Atlantic and their respective Affiliates. 
 “Holdings Senior Notes” shall have the meaning
ascribed to such term in the Warrant Agreement. 
 “Indebtedness” means, with respect to any Person, (a) all
indebtedness of such Person, whether or not contingent, for borrowed money, and (b) all obligations of such Person evidenced by notes, bonds, debentures or other similar debt instruments. 

“Investors” means the holders of the issued and outstanding Securities of the Company who are parties hereto (including each
Holder) or to the Securityholder Rights Agreement, other than the Company, Apollo, General Atlantic and their respective Affiliates. 

“Law” means any federal, national, supranational, state, provincial, commonwealth, local or foreign or similar law, statute,
ordinance, rule, regulation, code, order, writ, judgment, injunction, directive, guideline or decree enacted, issued, promulgated, enforced or entered by a Government Entity or Self-Regulatory Organization (including, for the sake of clarity, any
policy statement or interpretation that has the force of law with respect to any of the foregoing, and including common law). 

“Legacy Stockholders” means (i) Apollo and each of its Transferees; and (ii) General Atlantic and each of its
Transferees. 
 “Legacy Stockholders Consent” means (i) the consent of Apollo, for so long as Apollo and its
Affiliates in the aggregate continue to own at least 50% of the shares of Common Stock owned by them on the date hereof, (ii) the consent of General Atlantic, for so long as General Atlantic and its Affiliates in the aggregate continue to own
at least 50% of the shares of Common Stock owned by them on the date hereof and (c) the consent of the holders of a majority of the shares of Common Stock owned by Apollo and General Atlantic and each of their Affiliates. 

  
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 “Lump Sum Payment” shall have the meaning ascribed to such term in the
Consulting Agreement. 
 “MIRA” means that certain Management Investor Rights Agreement, dated as of October 17, 2005,
among the Company, Apollo and the other parties thereto (as it may be amended, supplemented, restated or otherwise modified from time to time). 

“Offered Securities” has the meaning ascribed to such term in Section 2(c). 

“PennantPark” means PennantPark Investment Advisers, LLC, together with its Affiliates. 

“Permitted Transfer” means: 

(a) in the case of any Holder who is an individual, a Transfer of shares of Common Stock to a trust or estate planning-related entity for the
sole benefit of such Holder; 
 (b) in the case of any Holder that is a partnership, (i) a Transfer of shares of Common Stock to its
limited, special and general partners or their equivalents as a pro rata distribution by such partnership to its partners or equivalents and (ii) a Transfer of shares of Common Stock made to any of such Holder’s Affiliates; and 

(c) in the case of any Holder that is a corporation, company or limited liability company, (i) a Transfer of shares of Common Stock to
its shareholders or members, as the case may be, as a pro rata distribution by such Person to its shareholders or members and (ii) a Transfer of shares of Common Stock made to any of such Holder’s Affiliates; 

provided, however, that notwithstanding anything to the contrary, if a Person that received Warrant Shares in a Permitted Transfer owing to its
status as an Affiliate of the transferor ceases to be an Affiliate of such transferor, such Person will re-convey such Warrant Shares to such transferor (1) immediately before such Person ceases to be an Affiliate of such transferor so long as
such Person knows of its upcoming change of status immediately prior thereto or (ii) if such change of status is not known until after such change of status, then as soon as practicable thereafter. 

“Person” shall be construed broadly and shall include, without limitation, an individual, a partnership, a limited liability
company, a corporation, an association, a joint stock company, a trust, a joint venture, an unincorporated organization and a Government Entity. 

“Pre-emptive Rights Proportion” means, with respect to any Person at the time of an event, a fraction (expressed as a
percentage) the numerator of which is the total number of shares of Common Stock (which shall include Warrants on an as exercised basis without regard to whether then exercisable) beneficially owned by (x) if such Person is an individual, such
Person and (y) if such Person is not an individual, such Person and its Affiliates, in each case at such time, and the denominator of which is the aggregate number of issued and outstanding shares of

  
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Common Stock on a fully diluted basis; provided, that, for these purposes the Person shall be deemed to have beneficial ownership of all securities that such Person has the right to
acquire, whether such right is currently exercisable or is exercisable upon the occurrence of a subsequent event. 
 “Potential
Participant” has the meaning ascribed to such term in Section 4(c). 
 “Pre-emptive Rights Holder” has
the meaning ascribed to such term in Section 2(c). 
 “Pre-emptive Offer Acceptance Notice” has the meaning
ascribed to such term in Section 2(c). 
 “Pre-emptive Offer Notice” has the meaning ascribed to such term in
Section 2(c). 
 “Pre-emptive Offer Period” has the meaning ascribed to such term in Section 2(c).

 “Qualified Public Offering” means an underwritten public offering of Common Stock by the Company pursuant to an
effective registration statement filed by the Company with the Securities and Exchange Commission (other than on Forms S-4 or S-8 or successors to such forms) under the Securities Act. 

“Refused Securities” has the meaning ascribed to such term in Section 2(c). 

“Registration Rights Agreement” means the Second Amended & Restated Registration Rights Agreement, dated as of the
date hereof (as it may be amended, supplemented, restated or otherwise modified from time to time), by and among the Company and the parties thereto, a form of which is attached hereto as Annex II. 

“Related Parties” has the meaning ascribed to such term in Section 8(t). 

“Representatives” has the meaning ascribed to such term in Section 4(c). 

“Required Consents” shall have the meaning ascribed to such term in the Warrant Agreement. 

“Required Voting Percentage” means: 

(a) prior to the Control Event, if it should ever occur, all of the following: (i) a majority of the issued and outstanding shares of
Common Stock owned by Apollo and any member of the Apollo Group; (ii) a majority of the issued and outstanding shares of Common Stock owned by General Atlantic and any member of the General Atlantic Group; (iii) the Holder Group Majority;
and (iv) the Company; and 
 (b) upon and following the Control Event, if it should ever occur, all of the following: (i) a
majority of the issued and outstanding shares of Common Stock owned by the Legacy Stockholders, (ii) Apollo’s consent for so long as the Apollo Group owns at least 10% of the Company’s issued and outstanding shares of Common Stock on
a fully diluted basis, (iii) General Atlantic’s consent for so long as the General Atlantic Group owns at least 10% of the Company’s issued and outstanding shares of Common Stock on a fully diluted basis; (iv) the Holder Group
Majority; and (v) the Company. 

  
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 “Rule 144” has the meaning ascribed to such term in Section 3.3(d).

 “Securities” means, with respect to any Person, such Person’s “securities” as defined in
Section 2(1) of the Securities Act and includes such Person’s capital stock or other equity interests or any options, warrants or other securities that are directly or indirectly convertible into, or exercisable or exchangeable for, such
Person’s capital stock or other equity or equity-linked interests, including (but not limited to) phantom stock , stock appreciation rights, Warrant Shares and Warrants. 

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

“Securityholder Rights Agreement,” means that certain Securityholder Rights Agreement, dated as of January 14, 2011, by
and among the Company and the investors party thereto. 
 “Self-Regulatory Organization” means the Financial Industry
Regulatory Authority, the American Stock Exchange, the National Futures Association, the Chicago Board of Trade, the NYSE, the NASDAQ Stock Exchange, any national securities exchange (as defined in the Exchange Act), any other securities exchange,
futures exchange, contract market, any other exchange or corporation or similar self-regulatory body or organization. 
 “Series A
Holders Director” has the meaning ascribed to such term in the Company’s certificate of incorporation. 
 “Series A
Warrants” has the meaning ascribed to such term in the Warrant Agreement. 
 “Series B Warrants” has the meaning
ascribed to such term in the Warrant Agreement. 
 “Significant Holder” means each of (i) Ares, so long as Ares
beneficially owns, together with its Affiliates, a number of Warrant Shares and/or Warrants (on an as-exercised basis) equal to at least 50% of the number of Warrant Shares or Warrants (on an as-exercised basis) issued to Ares and its Affiliates on
the Effective Date (ii) Empyrean, so long as Empyrean beneficially owns, together with its Affiliates, a number of Warrant Shares and/or Warrants (on an as-exercised basis) equal to at least 50% of the number of Warrant Shares or Warrants (on
an as-exercised basis) issued to Empyrean and its Affiliates on the Effective Date and (iii) Pennant Park, so long as Pennant Park beneficially owns, together with its Affiliates, a number of Warrant Shares and/or Warrants (on an as-exercised
basis) equal to at least 50% of the number of Warrant Shares or Warrants (on an as-exercised basis) issued to Pennant Park and its Affiliates on the Effective Date (in each case, as adjusted for any stock split, stock dividend, stock distribution or
stock combination or combination having similar effect). 
 “SPV Affiliate” means, with respect to Apollo, any Affiliate of
Apollo Management V, L.P. or Apollo Global Management, LLC, or, with respect to General Atlantic, any Affiliate of General Atlantic LLC, in each case whose direct or indirect interest in the shares of Common Stock constitutes more than 50% (by
value) of the equity Securities portfolio of that Affiliate. 

  
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 “Stockholder Agreement” means the Stockholder Agreement, dated as of
January 14, 2011, among the Company and the parties thereto, as it has been amended. 
 “Subject Companies” has the
meaning ascribed to such term in Section 7(d)(ii). 
 “Subsidiary” means, with respect to any Person, any
corporation, association, partnership, limited liability company or other business entity of which 50% or more of the total voting power or equity interests (including partnership interests) entitled (without regard to the occurrence of any
contingency) to vote in the election of directors, managers, representatives or trustees thereof is at the time owned or Controlled, directly or indirectly, by (a) such Person, (b) such Person and one or more Subsidiaries of such Person,
or (c) one or more Subsidiaries of such Person. 
 “Tag-Along Acceptance Notice” has the meaning ascribed to such term
in Section 2(a)(ii). 
 “Tag-Along Notice” has the meaning ascribed to such term in
Section 2(a)(i). 
 “Tag-Along Offerors” has the meaning ascribed to such term in Section 2(a)(i).

 “Tag-Along Percentage” means, with respect to any Person at the time of an event, a fraction (expressed as a percentage)
the numerator of which is the total number of issued and outstanding shares of Common Stock beneficially owned by (x) if such Person is an individual, such Person and (y) if such Person is not an individual, such Person and its Affiliates,
in each case at such time, and the denominator of which is the aggregate number of issued and outstanding shares of Common Stock beneficially owned by (a) the Transferring Holder (or by any of its Transferring Affiliates), (b) all
Investors who have timely delivered a Tag-Along Acceptance Notice at such time, (c) all stockholders who have timely delivered a tag-along acceptance notice pursuant to Section 4(d)(ii) of the Stockholder Agreement, (d) all
stockholders who have timely delivered a tag-along notice pursuant to Section 2(a)(i) of the MIRA and (e) all other stockholders having a right to tag-along pursuant to the terms of any other agreement, in each case with respect to the
Transfer of Common Stock giving rise to the Tag-Along Right, the tag-along right pursuant to Section 4 of the Stockholder Agreement, the tag-along right pursuant to Section 2 of the MIRA or tag-along right pursuant to the terms of any
other agreement, as the case may be. 
 “Tag-Along Right” has the meaning ascribed to such term in
Section 2(a)(ii). 
 “Tag-Along Shares” has the meaning ascribed to such term in Section 2(a)(i).

 “Tag Along Transaction” has the meaning ascribed to such term in Section 2(a)(i). 

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

“Transfer” means any direct or indirect sale, assignment, transfer, conveyance, gift, bequest by will or under intestacy
Laws, pledge, hypothecation or other Encumbrance, or any other disposition, of the stated security (or any interest therein or right thereto, including the issuance of any total return swap or other derivative whose economic value is primarily based

  
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upon the value of the stated security) or of all or part of the voting power (other than the granting of a revocable proxy) associated with the stated security (or any interest therein)
whatsoever, or any other transfer of beneficial ownership of the stated security, with or without consideration and whether voluntarily or involuntarily (including by operation of law). Notwithstanding anything to the contrary set forth herein,
transfers of an interest in any member of the Apollo Group (other than any SPV Affiliate) or in the General Atlantic Group (other than any SPV Affiliate) shall not be deemed to be a Transfer. 

“Transferee” means any Person to whom a party hereto has transferred shares of Common Stock pursuant to a Transfer. 

“Transferring Affiliate” has the meaning ascribed to such term in Section 2(a)(i). 

“Transferring Holder” has the meaning ascribed to such term in Section 2(a)(i). 

“Warrant Agreement” means that certain Warrant Agreement, dated on or about December 12, 2013, by and between the
Company and Wells Fargo Bank, National Association, as warrant agent, as in effect from time to time. 
 “Warrant Shares”
means, the shares of Common Stock issued upon the valid exercise of the Warrants. 
 “Warrants” means the Series A Warrants
and Series B Warrants, collectively. 
 Section 2. Certain Transfers; Pre-emptive Rights. 

(a) Tag-Along Transaction. 

(i) Before the completion of a Qualified Public Offering, if any Holder, Apollo or General Atlantic proposes to Transfer (each, a
“Transferring Holder”) to another Person or Persons (collectively, the “Tag-Along Offerors”), in a transaction or series of related transactions (the “Tag-Along Transaction”), shares of Common Stock
or, following the Control Event, if it should ever occur, Warrants (on an as-exercised basis), representing, in the aggregate, more than 5% of the shares of Common Stock on a fully diluted basis, then, at least 10 Business Days prior to the closing
of such proposed Transfer, any such Transferring Holder shall deliver a written notice (the “Tag-Along Notice”) to each Investor, Apollo and General Atlantic. Such Tag-Along Notice shall (A) set forth (1) the total number
of shares of Common Stock proposed to be Transferred (the “Tag-Along Shares”), (2) the total number of shares of Common Stock beneficially owned by the Transferring Holder and each Affiliate of such Transferring Holder
proposing to Transfer shares of Common Stock in such Tag-Along Transaction (each a “Transferring Affiliate”), (3) the name and address of the Tag-Along Offerors, (4) the proposed amount and type of consideration
(including, if the consideration consists in whole or in part of non-cash consideration, such information available to the Transferring Holder as may be reasonably necessary for the Company to properly analyze the economic value and investment risk
of such non-cash consideration) and (5) the terms and conditions of payment that the Transferring Holder and its Transferring Affiliates intend to accept; and (B) indicate that the Tag-Along Offerors have been informed of the Tag-Along
Rights provided for in this Section 2(a) and have agreed to purchase shares of Common Stock from the Investors, Apollo and/or General Atlantic (and their respective Affiliates), as applicable, in accordance with the terms hereof. 

  
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 (ii) Each Investor, Apollo and General Atlantic shall have the right (the “Tag-Along
Right”), exercisable by delivering a written notice (the “Tag-Along Acceptance Notice”) to the Transferring Holder within 10 Business Days after delivery of the Tag-Along Notice, to Transfer to the Tag-Along Offerors and
substitute for Tag-Along Shares held by the Transferring Holder, as a condition to such proposed Transfer of Tag-Along Shares by the Transferring Holder or its Transferring Affiliates, up to the number of shares of Common Stock equal to the number
of Tag-Along Shares multiplied by such Person’s Tag-Along Percentage (rounded down to the nearest whole share), at a price per share equal to the same price per share of Common Stock proposed to be paid by the Tag-Along Offerors and otherwise
on substantially the same terms and conditions set forth in the Tag-Along Notice; provided, however, that (A) as a condition to an Investor party to the Securityholder Rights Agreement exercising its Tag-Along Rights hereunder,
such Investor shall irrevocably and unconditionally waive its tag-along rights set forth in the Securityholder Rights Agreement and any claims it may have against Apollo or General Atlantic for any and all failures of either of them to comply with
any of the provisions thereunder related to such waived tag-along rights and (B) Apollo and General Atlantic or either of them, as applicable, and their permitted assigns shall have 10 additional Business Days to deliver a Tag-Along Acceptance
Notice if (I) any of the Persons party to the Securityholder Rights Agreement, the Stockholder Agreement or any other agreement to which Apollo and General Atlantic or either of them, as the case may be, is a party as of the date hereof have
tag-along rights to transfers by Apollo and General Atlantic or either of them, as the case may be, and (II) any of such Persons exercise their tag-along rights thereunder. Notwithstanding anything to the contrary herein, Apollo, General Atlantic
and each of their Affiliates shall have the right to assign its or their Tag-Along Rights hereunder to any of their respective Affiliates as required to satisfy its or their obligations to provide tag-along rights under the applicable agreements.

 (iii) The Transferring Holder (and its Transferring Affiliates) shall not Transfer any Common Stock to the Tag-Along Offerors unless
each Person having a Tag-Along Right that delivered a timely Tag-Along Acceptance Notice is permitted to Transfer simultaneously therewith, and substitute for Tag-Along Shares held by the Transferring Holder (or its Transferring Affiliates), the
number of shares of Common Stock equal to the number of Tag-Along Shares multiplied by such Person’s Tag-Along Percentage (rounded down to the nearest whole share), at a price per share equal to the same price per share of Common Stock proposed
to be paid to the Transferring Holder (and its Transferring Affiliates) and otherwise on substantially the same terms and conditions set forth in the Tag-Along Notice (any Person who has Tag-Along Rights who holds Warrants may deliver such Warrants
in lieu of shares of Common Stock, with exercise of such Warrants effective upon consummation of the Tag-Along Transaction). 
 (iv) If all
such Transfers of shares of Common Stock to the Tag-Along Offeror are not consummated within 120 days from delivery of the Tag-Along Notice, the provisions of this Section 2(a) shall again become effective with respect to the proposed
Transfer of shares of Common Stock. 
 (v) Notwithstanding anything to the contrary in this Agreement, this Section 2(a) shall not
apply to (A) Permitted Transfers, (B) Transfers of shares of Common Stock made in a Qualified Public Offering or (C) Transfers of Warrants prior to the Control Event, if it should ever occur. 

  
 11 

 (b) Drag Along Option. 

(i) Before the completion of a Qualified Public Offering, if the holders of 50.01% or more of the sum of the number of issued and outstanding
shares of Common Stock, including the Warrant Shares, if any and assuming the exercise of all Exercisable Warrants (the “Dragging Parties”), desire to Transfer shares of Common Stock or Exercisable Warrants to an unaffiliated third
party (for the avoidance of doubt, any Affiliate or a portfolio company of a Dragging Party shall be deemed not to be an unaffiliated third party for these purposes) in a transaction or series of related transactions, whether by sale of stock,
merger, consolidation or otherwise, that comprise 80% or more of the shares of Common Stock beneficially owned by such Dragging Parties and their Affiliates (a “Drag-Along Transaction”), then, the Dragging Parties shall have the
right (the “Drag-Along Right”) to require each Holder, Legacy Stockholder and its respective Affiliates (a “Dragged Holder”) to Transfer, in the Drag-Along Transaction, the number of shares of Common Stock
beneficially owned by such Dragged Holder multiplied by the Drag-Along Percentage (rounded down to the nearest whole share). 
 (ii) To
exercise the Drag-Along Right, the Dragging Parties shall deliver written notice of such Drag-Along Transaction (the “Drag-Along Notice”) to the Company and each Dragged Holder. Such Drag-Along Notice shall disclose in reasonable
detail the number of shares of Common Stock to be subject to the Drag-Along Transaction (the “Drag-Along Shares”), the proposed price, the other proposed terms and conditions of the proposed Drag-Along Transaction (including copies
of the definitive agreements relating thereto) and the identity of the prospective purchaser. For the avoidance of doubt, the terms and conditions of the proposed Drag-Along Transaction must be the same for the Dragging Parties and the Dragged
Holder, including the identical form and amount of consideration for the shares of Common Stock, but excluding any Consulting Fees payable pursuant to the Consulting Agreement, which payments shall be subject to Section 7(c). 

(iii) The Persons purchasing the shares of Common Stock pursuant to a Drag-Along Transaction shall be entitled to require each Dragged Holder
to provide representations and warranties regarding (A) its power, authority and legal capacity to enter into such Transfer of shares of Common Stock; (B) its valid right, title and interest in such shares of Common Stock and the Dragged
Holder’s ownership of such shares of Common Stock; (C) the absence of any Encumbrances on such shares of Common Stock; and (D) the absence of any violation, default or acceleration of any agreement or instrument pursuant to which such
Dragged Holder or the assets of such Dragged Holder are bound as the result of such sale; provided that the representations to be provided by each Dragged Holder and each Dragging Party shall be substantially identical other than with respect
to the applicable governing Law with respect to its power, authority and legal capacity to enter into such Transfer of shares of Common Stock. 

(iv) With respect to any Drag-Along Transaction, the Dragging Parties and each Dragged Holder shall use their reasonable best efforts to
effect the Drag-Along 

  
 12 

 
Transaction as expeditiously as practicable, including delivering all documents necessary or reasonably requested in connection with such Drag-Along Transaction, voting in support of such
transaction and entering into any instrument, undertaking or obligation necessary or reasonably requested in connection with such Drag-Along Transaction (as specified in the Drag-Along Notice). Subject to the terms and conditions of this Section
2(b) and without limiting the generality of the foregoing, the Company and each Dragged Holder shall take or cause to be taken all actions, and do or cause to be done, on behalf and in respect of the Company, all reasonably requested actions
consistent with this Section 2(b) in connection with any Drag-Along Transaction. In addition, (A) each Dragging Party and each Dragged Holder shall pay its pro rata share (based on the percentage of the proceeds for the
shares of Common Stock actually received by such Dragging Party or such Dragged Holder, as applicable, as compared to the aggregate proceeds for the shares of Common Stock actually received by all Dragged Holders and all Dragging Parties) of the
reasonable expenses (if any) incurred by the each of the Dragging Parties and each of the Dragged Holders (or any of their respective Affiliates) in connection with the Drag-Along Transaction; and (B) each Dragging Party and each Dragged Holder
shall join on a pro rata basis (based on the percentage of the proceeds for the shares of Common Stock actually received by such Dragging Party or such Dragged Holder, as applicable, as compared to the aggregate proceeds for the shares of
Common Stock actually received by all Dragged Holders and all Dragging Parties), severally and not jointly, in any indemnification or other obligations that are specified in the Drag-Along Notice, except for (x) any indemnification of any
Dragging Party or any of its Affiliates, (y) any indemnification with respect to the representations and warranties given by any other Dragged Holder pursuant to Section 2(b)(iii) and (z) any indemnification of any Transferee or any
other party related to such Drag-Along Transaction (including escrow agents, investment bankers or other agents or advisors) with respect to an aggregate amount in excess of the proceeds actually paid to such Dragged Holder (after deducting any
expenses paid by such Dragged Holder pursuant to clause (A) of this sentence) in respect of such Dragged Holder’s shares of Common Stock in connection with such Drag-Along Transaction (provided that, with respect to any options,
warrants or other rights to purchase or subscribe for shares of Common Stock exercised or converted into shares of Common Stock by a Dragged Holder following the delivery of the applicable Drag-Along Notice, such proceeds shall only include the
amount by which the aggregate proceeds actually received exceeds the aggregate exercise or conversion price actually paid by such Dragged Holder in respect of such options, warrants or rights). Notwithstanding anything to the contrary contained
herein, in no event shall any Dragged Holder be obligated to enter into any non-competition or non-solicitation agreement or any other agreement or restrictive covenant of similar import in connection its participation in a Drag-Along Transaction
without such Dragged Holder’s consent. 
 (v) If requested by the Dragging Parties, each Dragged Holder will, immediately prior to the
consummation of the Drag-Along Transaction, exercise and/or convert, as applicable, such number of options, warrants or other rights to purchase or subscribe for shares of Common Stock into shares of Common Stock as is required so that a sufficient
number of shares of Common Stock are available to Transfer the applicable number of Drag-Along Shares beneficially owned by such Dragged Holder; provided that any Dragged Holder that holds such options, warrants or other rights to purchase
the exercise or conversion price per share of which is greater than the per share price at which the Drag-Along Shares are to be Transferred, may, in place of such exercise or conversion, submit to irrevocable cancellation thereof without any
liability for payment of any exercise or conversion price with respect thereto. 

  
 13 

 (vi) Upon the closing of the sale of any shares of Common Stock pursuant to this Section
2, the Dragged Holders shall deliver at such closing, against payment of the purchase price therefor, certificates representing their shares of Common Stock to be sold, duly endorsed for Transfer or accompanied by duly endorsed stock powers, and
evidence of the absence of Encumbrances with respect thereto and of such other matters as are deemed reasonably necessary by the Company for the proper Transfer of such shares on the books of the Company. 

(vii) If the Dragging Parties have satisfied the conditions necessary to exercise the Drag-Along Right with respect to a Drag-Along
Transaction, then before the completion of a Qualified Public Offering, in connection with a sale of all or substantially all of the consolidated gross assets (excluding cash) of the Company and assumption of all or substantially all of the
consolidated gross liabilities (excluding Indebtedness) of the Company to an unaffiliated third party (for the avoidance of doubt, any Affiliate or a portfolio company of a Dragging Party shall be deemed not to be an unaffiliated third party for
these purposes) (a “Dragged Asset Sale”), the Dragging Parties shall have the right (the “Dragged Asset Sale Right”) to require each Holder, Legacy Stockholder and their respective Affiliates (a “Dragged
Asset Sale Holder”) to vote to approve such Dragged Asset Sale. 
 (viii) To exercise the Dragged Asset Sale Right, the Dragging
Parties must deliver written notice of such proposed Dragged Asset Sale (the “Dragged Asset Sale Notice”) to the Company and each Dragged Asset Sale Holder. Such Dragged Asset Sale Notice shall disclose in reasonable detail the
proposed price, the other proposed terms and conditions of the proposed Dragged Asset Sale (including copies of the definitive agreements relating thereto) and the identity of the prospective Asset Acquirer. 

(ix) The Asset Acquirer shall be entitled to require each Dragged Asset Sale Holder to provide representations and warranties regarding
(A) its power, authority and legal capacity to vote its shares of Common Stock in favor of such Dragged Asset Sale; (B) its valid right, title and interest in such shares of Common Stock and the Dragged Asset Sale Holder’s ownership
of such shares of Common Stock; (C) the absence of any Encumbrances on such shares of Common Stock; and (D) the absence of any violation, default or acceleration of any agreement or instrument pursuant to which such Dragged Asset Sale
Holder or the assets of such Dragged Asset Sale Holder are bound as the result of such sale, provided that the representations to be provided by each Dragged Asset Sale Holder and any Dragging Party shall be substantially identical other than
with respect to the applicable governing Law with respect to its power, authority and legal capacity to vote its shares of Common Stock in favor of such Dragged Asset Sale. 

(x) Subject to the terms and conditions of this Section 2(b), the Company (in the case of any Dragged Asset Sale) agrees that it shall
use its reasonable best efforts to effect the Dragged Asset Sale, as expeditiously as practicable, including delivering all documents necessary or reasonably requested in connection with such Dragged Asset Sale, and entering into any instrument,
undertaking or obligation necessary or reasonably requested in connection with such Dragged Asset Sale (as specified in the Dragged Asset Sale Notice). 

  
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Subject to the terms and conditions of this Section 2(b) and without limiting the generality of the foregoing, the Company shall take or cause to be taken all actions, and do or cause to
be done, on behalf and in respect of the Company, all reasonably requested actions consistent with this Section 2(b) in connection with any Dragged Asset Sale, as applicable. In addition, (A) each Dragging Party and each Dragged Asset
Sale Holder shall pay its pro rata share (based on the percentage of the proceeds actually received by such Dragging Party or such Dragged Asset Sale Holder, as applicable, as compared to the aggregate proceeds actually received by all
Dragged Asset Sale Holders and all Dragging Parties) of the reasonable expenses (if any) incurred by each Dragging Party and each of the Dragged Asset Sale Holders (or any of their respective Affiliates) in connection with the Dragged Asset Sale;
and (B) each Dragging Party and each Dragged Asset Sale Holder shall join on a pro rata basis (based on the percentage of the proceeds actually received by such Dragging Party or such Dragged Asset Sale Holder, as applicable, as compared
to the aggregate proceeds actually received by all Dragged Asset Sale Holders and all Dragging Parties), severally and not jointly, in any indemnification or other obligations that are specified in the Dragged Asset Sale Notice, except for
(x) any indemnification of any Dragging Party or any of its Affiliates, (y) any indemnification with respect to the representations and warranties given by any other Dragged Asset Sale Holder pursuant to Section 2(b)(ix) and
(z) any indemnification of any Transferee or any other party related to such Dragged Asset Sale (including escrow agents, investment bankers or other agents or advisors) with respect to an aggregate amount in excess of the proceeds actually
paid to such Dragged Asset Sale Holder (after deducting any expenses paid by such Dragged Asset Sale Holder pursuant to clause (A) of this sentence) in respect of the assets sold in such Dragged Asset Sale. 

(xi) At the option of the Dragging Parties, if and to the extent Apollo and General Atlantic or either of them is a Dragged Holder or Dragged
Asset Holder, as the case may be, and the Control Event shall have occurred, each of Apollo and General Atlantic or either of them, as applicable, shall (A) assign, to the extent assignable, without consent of any other Person, its rights to
effect a Drag-Along Transaction or a Dragged Asset Sale, as the case may be, under the Securityholder Rights Agreement and the Stockholder Agreement (in each case as such terms are defined in such agreements, respectively) to the Dragging Parties,
and (B) exercise, to the extent exercisable, any and all of its drag-along rights under the Securityholder Rights Agreement, the Stockholder Agreement and any other agreement to which it is a party to cause the other parties thereto to transfer
a percentage of each of their shares of Common Stock equal to the Drag-Along Percentage, without duplication, on the same terms as the Dragged Holders. 

(xii) Notwithstanding anything to the contrary in this Agreement, for the avoidance of doubt, this Section 2(b) shall not apply to
(A) Permitted Transfers, (B) Transfers of shares of Common Stock made in a Qualified Public Offering or (C) Transfers of assets by the Company or any of its Subsidiaries to (1) any of Apollo, Apollo’s Affiliates, or
Apollo’s or Apollo’s Affiliates’ respective portfolio companies or (2) to any of General Atlantic, General Atlantic’s Affiliates, or General Atlantic’s or General Atlantic’s Affiliates’ respective portfolio
companies. 

  
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 (c) Pre-emptive Rights. 

(i) if the Company or any of its Subsidiaries proposes to issue any equity Securities (the “Offered Securities”), the
Company shall deliver to Apollo, General Atlantic, each Holder of Warrant Shares and each Holder of Warrants (each, a “Pre-emptive Rights Holder”) a written notice (which notice shall state the number or amount of the Offered
Securities proposed to be issued, the purchase price thereof and any other material terms or conditions of the proposed Offered Securities and of their issuance) of such issuance (the “Pre-emptive Offer Notice”) at least 15 Business
Days prior to the date of the proposed issuance (the period beginning on the date that the Pre-emptive Offer Notice is delivered to the Pre-emptive Rights Holders and the date that is 15 Business Days following such date being the
“Pre-emptive Offer Period”). 
 (ii) Each Pre-emptive Rights Holder shall have the option, exercisable at any time during
the Pre-emptive Offer Period by delivering a written notice to the Company (a “Pre-emptive Offer Acceptance Notice”) along with the purchase price as set forth in the Pre-emptive Offer Notice, to subscribe for the number or amount
of such Offered Securities up to its Pre-emptive Rights Proportion of the total number or amount of Offered Securities proposed to be issued. 

(iii) If Pre-emptive Offer Acceptance Notices are not given by the Pre-emptive Rights Holders for all of the Offered Securities, the Company
may issue the part of such Offered Securities as to which Pre-emptive Offer Acceptance Notices have not been given by the Pre-emptive Rights Holders (the “Refused Securities”) to any Person in accordance with the terms and
conditions set forth in the Pre-emptive Offer Notice. Any Refused Securities not purchased by such Person in accordance with the previous sentence within 60 days after the expiration of the Pre-emptive Offer Period may not be sold or otherwise
disposed of until they are again offered to the Pre-emptive Rights Holders under the procedures specified in this Section 2(c). 

(iv) Nothing in this Section 2(c) shall prevent the Company from issuing or selling to any Person (the “Accelerated
Buyer”) any Offered Securities without first complying with the provisions of this Section; provided, that in connection with such issuance or sale (a) the Company gives reasonably prompt notice to the Pre-emptive Rights Holders
of such investment (after such investment has occurred), which notice shall describe in reasonable detail the Offered Securities being purchased by the Accelerated Buyer and the purchase price thereof and (b) the Accelerated Buyer and the
Company enable the Pre-emptive Rights Holders to effectively exercise their respective rights under this Section with respect to their purchase of their Pre-emptive Rights Proportion of the Offered Securities issued to the Accelerated Buyer within
15 Business Days after receipt of the notice by the Pre-emptive Rights Holders of such investment by the Accelerated Buyer on the terms specified in this Section 2(c). 

(v) The rights under this Section 2(c) shall not apply in connection with the proposed issuance of the following Securities (the
“Excluded Securities”): 
 (1) Securities issued to officers, directors, employees or consultants of the Company or its
Subsidiaries, as compensation for services or otherwise; 
 (2) Securities issued as a dividend or upon any stock split, reclassification,
recapitalization, exchange or readjustment of Securities, merger or other similar transaction (in each case, on a pro rata basis); 

  
 16 

 (3) Securities issued as consideration in a consolidation, merger, acquisition, purchase of all
or substantially all of the assets or similar transaction involving the Company or any of its Subsidiaries, and a business entity that is not an Affiliate of the Company and that is an unaffiliated third party (for the avoidance of doubt, any
Affiliate or a portfolio company of a Holder or Legacy Stockholder shall be deemed not to be an unaffiliated third party for these purposes), in each case to the extent that such transaction is conducted in compliance with this Agreement; 

(4) Securities issued as an equity kicker to one or more Persons to whom the Company or one or more of its Subsidiaries is becoming indebted
in connection with the incurrence of such indebtedness by the Company or any of its Subsidiaries, provided that such incurrence otherwise complies with this Agreement; 

(5) To the extent that the Company concludes that an issuance is appropriate and desirable to further the business relationship with a
customer, supplier or a strategic partner of the Company or one of its Subsidiaries that is not an Affiliate of the Company, Securities issued on arms-length terms to such Person in a commercial transaction; 

(6) Securities issued in a Qualified Public Offering; 

(7) Securities issued to the Company or any of the Company’s Subsidiaries; and 

(8) Securities issued upon the conversion or exercise of any options, warrants or rights to acquire securities of the Company which options,
warrants or rights were (A) outstanding on the date hereof (including without limitation the Warrants) or (B) issued in compliance with the terms and conditions of this Section 2(c); 

provided, however, that Securities issued as contemplated by subsections (1), (4) or (5) above shall be deemed to be “Excluded
Securities” solely to the extent that the aggregate amount of Securities issued as Excluded Securities under subsections (1), (4) and (5) above does not exceed the sum of that number of shares of Common Stock issuable upon the
exercise of options outstanding as of the date hereof plus 10% of the issued and outstanding shares of Common Stock on a fully diluted basis as of the date hereof after giving effect to the issuance of the Warrants. 

  
 17 

 Section 3. Transfers; Additional Parties. 

3.1 Restrictions; Permitted Transfers. 

(a) Without the consent of the Company, no Holder shall Transfer any shares of Common Stock. The preceding sentence shall not apply to the
Warrants, but shall apply with respect to all shares of Common Stock and, other than the Warrants, securities convertible into or exchangeable into or exercisable for shares of Common Stock (including Options, warrants (other than Warrants),
restricted stock or restricted stock units) held at any time by a Holder, regardless of the manner in which such Holder initially acquired such shares of Common Stock or securities convertible into or exchangeable into or exercisable for shares of
Common Stock (including Options, warrants other than Warrants, restricted stock or restricted stock units). 
 (b) Notwithstanding anything
else contained herein to the contrary, prior to the Control Event, if it should ever occur, each Holder agrees that it shall not, and shall not permit its Transferees (if any), to Transfer directly or indirectly any shares of Common Stock or any
other Securities of the Company (including Warrants) to the Persons identified on Schedule I attached hereto. 
 (c) Notwithstanding
anything to the contrary, no Holder shall Transfer any shares of Common Stock pursuant to a Permitted Transfer (other than a Transfer of the Warrants) unless the Required Consents shall have been obtained. 

(d) No Holder or Legacy Stockholder will Transfer any shares of Common Stock beneficially owned by it except in compliance with
Section 2 and this Section 3, as applicable. 
 (e) Any purported Transfer in violation of this
Section 3.1 shall be null and void. 
 3.2 Additional Parties. 

(a) As a condition to the Company’s obligation to effect a Transfer of Warrants or shares of Common Stock permitted by this Agreement on
the books and records of the Company (other than a Transfer to Apollo or General Atlantic or of any of their respective Affiliates, any Holder, the Company or any Subsidiary of the Company), the Transferee shall be required to become a party to this
Agreement by executing (together with such Person’s spouse, if applicable) an Adoption Agreement in substantially the form of Exhibit A or in such other form that is reasonably satisfactory to the Company. 

(b) In the event that any Person acquires any Securities of the Company (including any Common Stock) from (i) a Legacy Stockholder or any
Affiliate of a member of such Legacy Stockholder’s Group or (ii) any direct or indirect Transferee of a Legacy Stockholder, such Person shall be subject to any and all obligations and restrictions set forth in this Agreement, of such
Legacy Stockholder hereunder, as if such Person was such Legacy Stockholder named herein. 
 (c) In the event that any Person acquires
Warrants or shares of Common Stock from (i) a Holder or any Affiliate or member of such Holder’s Group or (ii) any direct or indirect Transferee of a Holder, such Person shall be subject to any and all obligations and restrictions set
forth in this Agreement, of such Holder hereunder, as if such Person was such Holder named herein. 

  
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 3.3 Securities Restrictions; Legends. 

(a) No shares of Common Stock shall be transferable except upon the conditions specified in this Section 3.3, which conditions are
intended to insure compliance with the provisions of the Securities Act. 
 (b) Each certificate representing shares of Common Stock,
including any such certificates representing shares of Common Stock held by any Legacy Stockholder, shall (unless otherwise permitted by the provisions of paragraph (d) below) be stamped or otherwise imprinted with a legend in substantially the
following form: 
 “THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE BEEN ACQUIRED FOR INVESTMENT AND HAVE NOT BEEN REGISTERED UNDER
THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES OR BLUE SKY LAWS. THESE SECURITIES MAY NOT BE SOLD OR TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN EXEMPTION THEREFROM UNDER SAID ACT OR LAWS. THE SECURITIES REPRESENTED BY
THIS CERTIFICATE ARE ALSO SUBJECT TO WARRANTHOLDER RIGHTS AGREEMENT DATED AS OF DECEMBER 12, 2013 AMONG THE ISSUER OF SUCH SECURITIES (THE “COMPANY”), AND THE OTHER PARTIES NAMED THEREIN. THE TERMS OF SUCH WARRANTHOLDER RIGHTS AGREEMENT
INCLUDE, AMONG OTHER THINGS, RESTRICTIONS ON TRANSFER. A COPY OF SUCH AGREEMENT WILL BE FURNISHED WITHOUT CHARGE BY THE COMPANY TO THE HOLDER HEREOF UPON WRITTEN REQUEST.” 

Each Legacy Stockholder shall promptly upon execution of this Agreement deliver or cause to be delivered to the Company or the Company’s transfer agent
(as applicable), each certificate representing its shares of Common Stock, and cooperate with the Company and/or the Company’s transfer agent so that each such certificate is stamped or otherwise imprinted with the foregoing legend. 

(c) The holder of any shares of Common Stock by acceptance thereof agrees, prior to any Transfer of any such shares, to give written notice to
the Company of such holder’s intention to effect such Transfer and to comply in all other respects with the provisions of this Section 3.3. Each such notice shall describe the manner and circumstances of the proposed Transfer. Upon
request by the Company, the holder delivering such notice shall deliver a written opinion, addressed to the Company, of counsel for the holder of such shares, stating that in the opinion of such counsel (which opinion and counsel shall be reasonably
satisfactory to the 

  
 19 

 
Company) such proposed Transfer does not involve a transaction requiring registration or qualification of such shares under the Securities Act. Such holder of such shares shall be entitled to
Transfer such shares in accordance with the terms of the notice delivered to the Company, if the Company does not reasonably object to such Transfer and request such opinion within 15 days after delivery of such notice, or, if it requests such
opinion, does not reasonably object to such Transfer within 15 days after delivery of such opinion. Each certificate or other instrument evidencing any such transferred shares of Common Stock shall bear the legend set forth in
Section 3.3(b) above unless (A) such opinion of counsel to the holder of such shares (which opinion and counsel shall be reasonably acceptable to the Company) states that registration of any future Transfer is not required by the
applicable provisions of the Securities Act or (B) the Company shall have waived the requirement of such legends. 
 (d)
Notwithstanding the termination of this Agreement, when (i) any Warrant Shares are sold or otherwise disposed of pursuant to an effective registration statement under the Securities Act, or (ii) after a Qualified Public Offering, the
holder of such Warrant Shares has met the requirements for Transfer of such shares pursuant to Rule 144 promulgated under the Securities Act (“Rule 144”), the holder of such Warrant Shares shall be entitled to receive from the
Company, without expense, a new certificate not bearing the restrictive legend set forth in paragraph (b) above and not containing any other reference to the restrictions imposed by this Agreement. 

Section 4. Information Rights; Confidentiality. 

(a) Financial Statements and Notices. Except during such periods as the Company has timely filed its annual and quarterly reports with
the Securities and Exchange Commission (whether as a voluntary filer, within such time periods specified in the Exchange Act for non-accelerated filers, or, if the Company should become obligated to file such reports pursuant to Sections 13 or 15(d)
of the Exchange Act, in accordance with the applicable filing requirements), at the request of any Holder or Legacy Stockholder, the Company shall furnish to such Person: 

(i) (A) As soon as available, but in no event later than 45 days after the end of each fiscal year, unaudited summarized consolidated
financial statements of the Company and its Subsidiaries, for the immediately preceding fiscal year, and (B) as soon as available, but in no event later than 90 days after the end of each fiscal year, audited consolidated financial statements
of the Company and its Subsidiaries, in each of clauses (A) and (B) including a summarized consolidated balance sheet as of the end of such fiscal year, a summarized consolidated statement of income and a summarized consolidated statement
of cash flows for such year, in each case setting forth in comparative form the figures from the Company’s previous fiscal year, prepared on an internal management basis in the case of clause (A) and prepared in accordance with U.S.
generally accepted accounting principles consistently applied in the case of clause (B) and, in the case of clause (B), audited by a nationally recognized independent certified public accounting firm selected by the Board. Audited financial
statements shall also be accompanied by a narrative discussion in writing comparing the results of operations of the current fiscal year and the previous fiscal year, which discussion shall be prepared by the Company’s management; and 

  
 20 

 (ii) As soon as available, but in no event later than 45 days after the end of each fiscal
quarter, unaudited summarized consolidated financial statements of the Company and its Subsidiaries, including a summarized consolidated balance sheet as of the end of such fiscal quarter, a summarized consolidated statement of income and a
summarized consolidated statement of cash flows for such quarter and the current fiscal year to date, in each case setting forth in comparative form the figures from the corresponding periods of the previous fiscal year and the Company’s
projected financial statements for the current fiscal year and showing deviations from the Company’s budget, such financial statements to be prepared on an internal management basis. 

(b) For so long as any Significant Holder or Legacy Stockholder beneficially owns shares of Common Stock representing, in the aggregate, more
than 1.0% of the shares of Common Stock on a fully diluted basis, or any Holder beneficially owns shares of Common Stock representing, in the aggregate, more than 5% of the shares of Common Stock on a fully diluted basis, at the request of such
Person, the Company shall furnish to such Person, as soon as available, but in no event later than 30 days after the end of each month, an unaudited consolidated statement of income and balance sheet, without any explanatory notes, which statements
shall be prepared on an internal management basis; provided that any Person requesting information pursuant to this Section 4(b) shall be bound by the Company’s then-existing policy on insider trading and shall execute an agreement
evidencing such obligation. 
 (c) Confidentiality. Each Holder agrees to, and shall cause its Affiliates, and its and their
respective directors, officers, employees, agents, advisors and representatives (“Representatives”) to, (i) hold confidential all information they may have or obtain concerning the Company or any of its Subsidiaries and their
respective assets, business, operations, financial performance or prospects or the arrangements among the Holders and the Company (“Confidential Information”) and (ii) not use such Confidential Information except, with respect
to clause (ii), in connection with evaluating and monitoring its investment in the Company or exercising its rights and fulfilling its obligations with respect thereto (including, for the avoidance of doubt, the right to conduct a sale process with
respect to the sale of its shares of Common Stock so long as such Holder (x) complies with clause (i) of this sentence and (y) requires each potential participant in such sale process (a “Potential Participant”) to
whom Confidential Information is provided to enter into a customary confidentiality agreement (to which the Company is a third-party beneficiary) with respect to such sale process that requires such Potential Participant and its Representatives to
hold confidential, use only for the purposes of evaluating a purchase of shares of Common Stock from the Holder, and to return or destroy at the conclusion of the sale process (unless such Potential Participant enters into a definitive agreement
with such Holder whereby such Potential Participant will become a Holder upon consummation of the transactions contemplated by such agreement) any Confidential Information received by such Potential Participant or its Representatives);
provided, however, that the term “Confidential Information” does not include information that (A) is already in such party’s possession, provided that such information is not known by such Holder to be
subject to another confidentiality agreement with or other obligation of secrecy to any Person, (B) is or becomes generally available to the public other than as a result of a disclosure, directly or indirectly, by such party or such
party’s Representatives in violation of this Section 4(c), (C) is or becomes available to such party on a non-confidential basis from a source other than any of the parties hereto or any of their respective Representatives,
provided that such source is not 

  
 21 

 
known by such party to have made such information available to such party in violation of a confidentiality agreement with or other obligation of secrecy to any Person or (D) is received in
the course of a commercial arrangement between such Holder or any of its Affiliates, on the one hand, and the Company or any of its Affiliates, on the other hand (which confidential information shall be governed by the provisions governing such
commercial arrangement). Notwithstanding the foregoing, nothing herein shall prevent any party hereto from disclosing Confidential Information (1) upon the order of any Government Entity, (2) upon the request or demand of any Government
Entity having jurisdiction over such party, (3) to the extent required by Law, (4) to the extent necessary in connection with any suit, action or proceeding relating to this Agreement or the exercise of any remedy hereunder, and
(5) to such party’s Representatives that need to know such information and who agree to keep such information confidential on the terms set forth in this Section 4(c) (it being understood and agreed that, in the case of clause
(1), (2) or (3), unless prohibited by Law or any Government Entity, such party shall notify the other parties hereto of the proposed disclosure as far in advance of such disclosure as practicable and use reasonable efforts to ensure that any
information so disclosed is accorded confidential treatment, when and if available). The provisions set forth in this Section 4(c) shall terminate with respect to a given Holder on the second anniversary of the date such Holder ceases to
own shares of Common Stock. 
 Section 5. Notices. In the event a notice or other document is required to be sent hereunder to any party hereto, such
notice shall be in writing and shall be deemed duly given (a) on the date of delivery if delivered personally or by electronic mail sent with a request for delivery receipt, upon written electronic confirmation of delivery, or if by facsimile,
upon written confirmation of receipt by facsimile, (b) on the first Business Day following the date of dispatch if delivered utilizing a next-day service by a recognized next-day courier or (c) on the earlier of confirmed receipt or the
fifth Business Day following the date of mailing if delivered by registered or certified mail, return receipt requested, postage prepaid. All notices hereunder shall be delivered to the addresses set forth in Annex I. Any party hereto may effect a
change of address for purposes of this Agreement by giving notice of such change to the Company, and the Company shall, upon the request of any party hereto, confirm to such party such change in the manner provided herein. Until such notice of
change of address is properly given to the Company, the addresses set forth on Annex I shall be effective for all purposes. 
 Section 6.
Representations and Warranties. 
 (a) Representations and Warranties of the Holders. Each Holder, as to itself and not
jointly, hereby represents and warrants to the Company as of the date hereof that: 
 (i) Organization. If such Holder is an entity,
such Holder is duly formed, validly existing, and in good standing under the Laws of the jurisdiction of its creation, formation or organization and there is no pending or, to the knowledge of such Holder, threatened action for the dissolution,
liquidation, insolvency, or rehabilitation of such Holder. 
 (ii) Authority. Such Holder has the power and authority to execute and
deliver this Agreement and to perform its obligations hereunder. The execution, delivery, and performance by such Holder of this Agreement has been duly authorized by all necessary action of such Holder; and this Agreement has been duly executed and
delivered by such Holder 

  
 22 

 
and is the legal, valid and binding obligation of such Holder enforceable against such Holder in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency,
receivership, conservatorship, reorganization, liquidation, moratorium, or similar events affecting such Holder or its assets, or by general principles of equity. 

(iii) No Consents; No Violations. (A) No authorization, approval or other action by, and no notice to or filing with, any
Government Entity or Self-Regulatory Organization or any other Person is required for the due execution, delivery, and performance by such Holder of this Agreement or the consummation of the transactions contemplated hereby (other than (x) such
as has been obtained, given, effected or taken prior to the date hereof, (y) consents, authorizations, approvals or filings required to be obtained or made by, or notices given to, any Government Entity or Self-Regulatory Organization to the
extent having jurisdiction over the Company, as to which such Holder makes no representations or warranties and (z) routine filings that are informational in nature and made in the ordinary course of business); and (B) the execution,
delivery, and performance of this Agreement and the performance by such Holder of its obligations hereunder do not and will not result in any breach, violation or contravention of (1) if such Holder is an entity, such Holder’s
organizational documents, (2) any Law applicable to such Holder, (3) any order, writ, injunction, judgment, decree or award of any Government Entity or Self-Regulatory Organization to which such Holder or any of its properties is subject
or (4) any mortgage, contract, agreement, deed of trust, license, lease or other instrument, arrangement, commitment, obligation, understanding or restriction of any kind to which such Holder is a party or by which any of its properties is
bound, except for breaches, violations and contraventions, if any, as would not reasonably be expected to have, individually or in the aggregate, a material adverse effect on the financial condition, results of operations, business, properties or
assets of such Holder. 
 (iv) Investment Related Representations and Warranties. 

a. Such Holder is acquiring the Warrants or shares of Common Stock for his or its own account, for investment and not with a view to the
distribution thereof or any interest therein in violation of the Securities Act or applicable Securities Laws. 
 b. Such Holder
understands that (A) the Warrants or shares of Common Stock have not been registered under the Securities Act or under any state Securities Laws, and are being offered and sold in reliance under federal and state exemptions for transactions not
involving a public offering and (B) the Warrants or shares of Common Stock must be held by such Holder indefinitely unless a subsequent Transfer thereof is registered under the Securities Act and applicable Law or is exempt from such
registration. 
 c. Such Holder further understands that the exemption from registration afforded by Rule 144 (the provisions of which are
known to such Holder) depends on the satisfaction of various conditions, and that, if applicable, Rule 144 may afford the basis for sales of the Warrants or shares of Common Stock acquired hereunder in limited amounts. Such Holder further
understands that the Holder has no right to compel the Company to disclose any information for purposes of complying with Rule 144. 

  
 23 

 d. Such Holder (A) is an “accredited investor” (as defined in Rule 501(a) of
Regulation D under the Securities Act or (B) has a preexisting personal or business relationship with the Company, its Subsidiaries or certain members of the Board or officers of the Company, which is of a nature and duration sufficient to make
such Holder aware of the character, business acumen and general business and financial circumstances of the Company, its Subsidiaries and/or such members of the Board or officers of the Company, if any. 

e. The Company has made available to such Holder or its representatives all agreements, documents, records and books that such Holder has
requested relating to an investment in the Warrants or Common Stock being acquired by the Holder. Such Holder has had an opportunity to ask questions of, and receive answers from, Persons acting on behalf of the Company, concerning the terms and
conditions of this investment, and answers have been provided to all such questions to the full satisfaction of such Holder. Such Holder has such knowledge and experience in financial and business matters that it is capable of evaluating the risks
and merits of the investment in the Warrants or shares of Common Stock and to suffer a complete loss of such investment. 
 f. Such Holder
has no need for liquidity in its investment in the Warrants or shares of Common Stock. Such Holder can bear the economic risk of investment in the Warrants or shares of Common Stock and has such knowledge and experience in financial or business
matters to be capable of evaluating the merits and risks of the investment in the Warrants or shares of Common Stock. Such Holder has consulted with its professional, tax and legal advisors with respect to the federal, state, local and foreign
income tax consequences of such Holder’s participation as a Holder of the Company. 
 g. Such Holder understands that there is no
public market for the Warrants or shares of Common Stock and that the transferability of the Warrants or shares of Common Stock is restricted. 

(b) Representations and Warranties of the Company. The Company hereby represents and warrants to the Holders as of the date hereof
that: 
 (i) Organization. The Company is a corporation validly existing and in good standing under the Laws of Delaware and there
is no pending or, to the knowledge of the Company, threatened action for the dissolution, liquidation, insolvency, or rehabilitation of the Company. 

(ii) Authority. The Company has the power and authority to carry on its business as now conducted, to own or hold under lease its
properties, and to execute and deliver this Agreement and to perform its obligations hereunder. The execution, delivery and performance by the Company of this Agreement has been duly authorized by all necessary action; and this Agreement has been
duly executed and delivered by the Company and is the legal, valid and binding obligation of the Company enforceable against the Company in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency,
receivership, conservatorship, reorganization, liquidation, moratorium, or similar events affecting the Company or its assets, or by general principles of equity. 

  
 24 

 (iii) The authorized capital of the Company consists of (1) 360,000,000 shares of
Class A Common Stock, par value $0.01 per share, of which 84,913,613 are issued and outstanding as of the date hereof, (2) 180,000,000 shares of Class B Common Stock, par value $0.01 per share, of which none are outstanding as of the date
hereof and 92,939,655 have been reserved solely for issuance upon the exercise of Warrants, (3) 10,000,000 shares of Preferred Stock, par value $0.01 per share, of which none are outstanding as of the date hereof and (4) 20,000,000 Series
A Warrants to purchase shares of Class B Common Stock, of which none are outstanding as of the date hereof. The issued and outstanding equity interests in the Company are owned of record by Apollo, together with its Affiliates, General Atlantic,
together with its Affiliates, such other persons that beneficially own 5% or more of the Company’s issued and outstanding equity interests and the remaining investors aggregated as a single group in the amounts set forth on Schedule
6(b)(iii). All issued and outstanding Securities (A) have been duly authorized and are validly issued and outstanding, fully paid and non-assessable, (B) were issued in material compliance with all applicable securities laws and
(C) were not issued in breach of the organizational or governing documents of the Company or any of its Subsidiaries or any other similar agreement. 

(iv) Except as set forth on Schedule 6(b)(iv), there are no rights, subscriptions, warrants, options, conversion rights, stock,
membership interest or other equity-related appreciation rights, phantom stock, agreements or arrangements of any kind outstanding to purchase, exchange, exercise for, transfer, sell, register or otherwise acquire from the Company any shares of
Common Stock or other Securities of any kind of any of the Company or its Subsidiaries. 
 (v) No Consents; No Violations.
(A) No authorization, approval or other action by, and no notice to or filing with, any Government Entity or Self-Regulatory Organization or any other Person is required for the due execution, delivery, and performance by the Company of this
Agreement or the consummation of the transactions contemplated hereby (other than (x) such as has been obtained, given, effected or taken prior to the date hereof, (y) consents, authorizations, approvals or filings required to be obtained
or made by, or notices given to, any Government Entity or Self-Regulatory Organization to the extent having jurisdiction over the Holders, as to which the Company makes no representations or warranties and (z) routine filings that are
informational in nature and made in the ordinary course of business); and (B) the execution, delivery and performance of this Agreement and the consummation of the transactions contemplated hereby do not and will not result in any breach,
violation or contravention of (1) its certificate of incorporation or its by-laws, (2) any Law applicable to the Company, (3) any order, writ, injunction, judgment, decree or award of any Government Entity or Self-Regulatory
Organization to which the Company or any of its properties is subject or (4) any mortgage, contract, agreement, deed of trust, license, lease or other instrument, arrangement, commitment, obligation, understanding or restriction of any kind to
which the Company is a party or by which any of its properties is bound, except for breaches, violations and contraventions, if any, as would not reasonably be expected to have, individually or in the aggregate, a material adverse effect on the
financial condition, results of operations, business, properties or assets of the Company and its Subsidiaries, taken as a whole. 

  
 25 

 (c) Representations and Warranties of the Legacy Stockholders. Each Legacy Stockholder, as
to itself and not jointly, hereby represents and warrants to the Company as of the date hereof that: 
 (i) Organization. If such
Legacy Stockholder is an entity, such Legacy Stockholder is duly formed, validly existing, and in good standing under the Laws of the jurisdiction of its creation, formation or organization and there is no pending or, to the knowledge of such Legacy
Stockholder, threatened action for the dissolution, liquidation, insolvency, or rehabilitation of such Legacy Stockholder. 
 (ii)
Authority. Such Legacy Stockholder has the power and authority to execute and deliver this Agreement and to perform its obligations hereunder. The execution, delivery, and performance by such Legacy Stockholder of this Agreement has been duly
authorized by all necessary action of such Legacy Stockholder; and this Agreement has been duly executed and delivered by such Legacy Stockholder and is the legal, valid and binding obligation of such Legacy Stockholder enforceable against such
Legacy Stockholder in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, receivership, conservatorship, reorganization, liquidation, moratorium, or similar events affecting such Legacy Stockholder or
its assets, or by general principles of equity. 
 (iii) No Consents; No Violations. (A) No authorization, approval or other
action by, and no notice to or filing with, any Government Entity or Self-Regulatory Organization or any other Person is required for the due execution, delivery, and performance by such Legacy Stockholder of this Agreement or the consummation of
the transactions contemplated hereby (other than (x) such as has been obtained, given, effected or taken prior to the date hereof, (y) consents, authorizations, approvals or filings required to be obtained or made by, or notices given to,
any Government Entity or Self-Regulatory Organization to the extent having jurisdiction over the Company, as to which such Legacy Stockholder makes no representations or warranties and (z) routine filings that are informational in nature and
made in the ordinary course of business); and (B) the execution, delivery, and performance of this Agreement and the performance by such Legacy Stockholder of its obligations hereunder do not and will not result in any breach, violation or
contravention of (1) if such Legacy Stockholder is an entity, such Legacy Stockholder’s organizational documents, (2) any Law applicable to such Legacy Stockholder, (3) any order, writ, injunction, judgment, decree or award of
any Government Entity or Self-Regulatory Organization to which such Legacy Stockholder or any of its properties is subject or (4) any mortgage, contract, agreement, deed of trust, license, lease or other instrument, arrangement, commitment,
obligation, understanding or restriction of any kind to which such Legacy Stockholder is a party or by which any of its properties is bound, in each case, except as would not reasonably be expected to have, individually or in the aggregate, a
material adverse effect on the ability of such Legacy Stockholder to perform its obligations under this Agreement. 

  
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 Section 7. Covenants. 

(a) Restrictive Covenants Prior to the Control Event. For so long as the number of issued and outstanding Warrant Shares assuming the
exercise of all Exercisable Warrants in the aggregate represent more than 50% of the number of Warrant Shares issuable to the holders of Series A Warrants issued and outstanding on the Effective Date (in each case, as adjusted for any stock split,
stock dividend, stock distribution or stock combination or combination having similar effect), the Company shall not, and (in the case of each of the immediately following clauses (i) and (iii)) shall cause each of its Subsidiaries not to,
without the prior consent of the Holder Group Majority, do or permit the following: 
 (i) enter into any agreements or transactions or
series of agreements or transactions with Apollo, General Atlantic or any of their respective Affiliates, it being understood that the foregoing shall not apply to (1) the exercise of any rights, benefits or privileges, or the performance of
any obligations, under this Agreement, the Stockholder Agreement, the Securityholder Rights Agreement, the Registration Rights Agreement, the certificate of incorporation of the Company, the By-Laws, any agreement executed by investors generally in
connection with the issuance of Securities after the date hereof if the Holders are provided with preemptive rights thereon in accordance with this Agreement or to the extent that any such Person holds any of the Company’s indebtedness
outstanding immediately after the consummation of the Transactions, any documents governing any such indebtedness, the enforcement of any rights under any such agreement or instrument or any transaction expressly contemplated by any such agreement
or instrument, (2) any issuances of securities if the Holders are provided with preemptive rights thereon in accordance with this Agreement or the execution of any agreement or instrument entered into in connection with such issuance,
(3) any dividend or distribution (subject to Section 7(a)(iv)), (4) any reasonable compensation and/or reimbursement agreements or arrangements with the Company’s officers and directors (5) the Consulting Agreement,
subject to the other restrictions thereon set forth in this Agreement and (6) any such agreements or transactions or series of agreements or transactions with any portfolio company of Apollo, General Atlantic or any of their respective
Affiliates that is (x) on terms no less favorable to the Company or its Subsidiaries, as applicable, than would have been obtainable on an arms’ length basis and (y) to the extent such agreement or transaction or series of related
agreements or transactions involves (I) the sale of all or substantially all assets of the Company or any of its Subsidiaries, (II) the sale of an equity or economic interest in the Company or any of its Subsidiaries or (III) a merger,
consolidation, combination or other similar transaction, that has been approved by a majority of the Company’s disinterested Directors (including, but not limited to, the Series A Holders Director); 

(ii) voluntarily liquidate, dissolve or wind-up the affairs of the Company or otherwise initiate any insolvency proceeding or any proceeding
under the Bankruptcy Reform Act of 1978, as amended, or other applicable bankruptcy or insolvency laws; 
 (iii) redeem or repurchase or
otherwise acquire Common Stock or derivative securities exercisable therefor or convertible thereinto from Apollo, General Atlantic or their respective Affiliates, except as part of redemptions or repurchases in which all holders of shares of Common
Stock and then Exercisable Warrants (on an as-exercised basis) are entitled to participate for their pro rata share; provided that, for the avoidance of doubt, for the purposes of this Section 7(a)(iii), the term “Affiliates”
when referring to Apollo and General Atlantic shall not include the Company or any of its Subsidiaries; 
 (iv) declare or pay dividends or
cash interests or other distributions on any Common Stock except to the extent holders of the then Exercisable Warrants are entitled to participate therein with respect to such Exercisable Warrants on an as-exercised basis for their pro rata share;

  
 27 

 (v) engage in any reorganization, reclassification, reconstruction, consolidation or subdivision
of the Company’s share capital; provided, however, that the foregoing shall not apply to any reorganization, reclassification, reconstruction, consolidation or subdivision of the Company’s share capital that may be made in
connection with (A) the valid exercise of a Drag-Along Right, (B) the consummation of a Qualified Public Offering or (C) a Control Disposition; and 

(vi) alter, modify or amend (whether by merger, consolidation or otherwise) the Company’s certificate of incorporation, By-Laws or any
Equityholder Agreement except in connection with (A) the valid exercise of a Drag-Along Right or (B) the consummation of a Qualified Public Offering, in each case, in accordance with the terms and conditions in this Agreement, which
alterations, modifications or amendments become effective at or following the consummation of such Drag-Along Transaction or Qualified Public Offering. 

(b) Restrictive Covenants Following the Control Event. For so long as a Legacy Stockholder, together with its Affiliates, owns a number
of shares of Common Stock in the aggregate equal to at least 50% of the number shares of Common Stock owned by such Legacy Stockholder and its Affiliates as of the date hereof, the Company shall not, and (in the case of each of the immediately
following clauses (i) and (iii)) shall cause each of its Subsidiaries not to, without obtaining the Legacy Stockholders Consent, do or permit the following: 

(i) enter into any agreements or transactions or series of agreements or transactions with any Holder that owns Warrants or shares of Common
Stock representing (in the case of Warrants, on an as-exercised basis), in the aggregate, more than 15% of the shares of Common Stock then outstanding on a fully diluted basis or its Affiliates (such Holder and its Affiliates each an
“Affiliated Holder”), it being understood that the foregoing shall not apply to (1) the exercise of any rights, benefits or privileges, or the performance of any obligations, under this Agreement, the Stockholder Agreement, the
Securityholder Rights Agreement, the Registration Rights Agreement, the certificate of incorporation of the Company, the By-Laws, the Holdings Senior Notes or any related indenture, any agreement executed by investors generally in connection with
the issuance of Securities after the date hereof if the Legacy Stockholders are provided with preemptive rights thereon in accordance with this Agreement or to the extent that any such Person holds any of the Company’s indebtedness outstanding
immediately after the consummation of the Transactions, any documents governing any such indebtedness, the enforcement of any rights under any such agreement or instrument or any transaction expressly contemplated by any such agreement or
instrument, (2) any issuances of securities if the Legacy Stockholders are provided with preemptive rights thereon in accordance with this Agreement or the execution of any agreement or instrument entered into in connection with such issuance,
(3) any dividend or distribution (subject to Section 7(b)(iii)), (4) any reasonable compensation and/or reimbursement agreements or arrangements with the Company’s officers and directors and (5) any such agreements or
transactions or series of agreements or transactions with any portfolio company of an Affiliated Holder that is (x) on terms no less favorable to the Company or its Subsidiaries, as applicable, than would have been obtainable on an arms’
length basis and (y) to the extent such agreement or transaction or series of related agreements or transactions involves (I) the sale of all or substantially all assets of the Company or any of its Subsidiaries, (II) the sale of an equity
or economic interest in the Company or any of 

  
 28 

 
its Subsidiaries or (III) a merger, consolidation, combination or other similar transaction, that has been approved by a majority of the Company’s disinterested Directors (including, but not
limited to, the Directors elected by the Class A Common Stock); 
 (ii) redeem or repurchase or otherwise acquire Common Stock or
derivative securities exercisable therefor or convertible thereinto from an Affiliated Holder, except (A) as part of redemptions or repurchases in which all holders of shares of Common Stock are entitled to participate for their pro rata share,
or permit any of its Subsidiaries to do any of the foregoing or (B) redemptions or repurchases, or any other payments under, the Holdings Senior Notes or any related indenture; 

(iii) declare or pay dividends or cash interests or other distributions on any Common Stock except to the extent all holders of Common Stock
are entitled to participate therein on a pro rata basis; 
 (iv) engage in any reorganization, reclassification, reconstruction,
consolidation or subdivision of the Company’s share capital; provided, however, that the foregoing shall not apply to any reorganization, reclassification, reconstruction, consolidation or subdivision of the Company’s share
capital that may be made in connection with (A) the valid exercise of a Drag-Along Right, (B) the consummation of a Qualified Public Offering or (C) a Control Disposition; and 

(v) alter, modify or amend (whether by merger, consolidation or otherwise) the Company’s certificate of incorporation or By-Laws, except
in connection with (A) the valid exercise of a Drag-Along Right or (B) the consummation of a Qualified Public Offering, in each case, in accordance with the terms and conditions in this Agreement, which alterations, modifications or
amendments become effective at or following the consummation of such Drag-Along Transaction or Qualified Public Offering. 
 (c)
Consulting Agreement. Each Legacy Stockholder and the Company hereby agrees that: 
 (i) until the Holdings Senior Notes are repaid
in full, no management, consulting, monitoring, advisory or similar fees or expenses shall be paid or accrued to any Legacy Stockholder or its Affiliates, except that, subject to the other provisions of this Section 7, (A) the
Consulting Fee may continue to accrue and (B) out-of-pocket expenses, including legal fees and expenses and other disbursements incurred under Section 4(b) of the Consulting Agreement, may be paid so long as such fees and expenses do not
exceed $100,000 per year; provided that, for the avoidance of doubt, the foregoing restriction shall not apply (1) to the payment of fees to directors of the Company employed by or otherwise affiliated with the Legacy Stockholders or
their Affiliates in the amount such directors are entitled to receive for such services (including any extra amounts for serving on committees) on the date hereof or (2) any reimbursements for expenses such directors are entitled to under the
Company’s reimbursement policies for directors. 

  
 29 

 (ii) until the Holdings Senior Notes are repaid in full, the Consulting Agreement cannot be
amended, supplemented or modified without the prior written consent of the Holder Group Majority; and 
 (iii) notwithstanding anything to
the contrary contained herein or any other agreement, or the termination of the Consulting Agreement, any accrued and unpaid Consulting Fee shall continue to be payable hereunder and thereunder, subject to Section 7(c)(i). 

(d) Subsidiary Boards. 

(i) The Company hereby agrees that the AGI Board shall be comprised of the same persons serving on the Board. 

(ii) The Company hereby agrees that, so long as any Required Consents have been obtained, the Series A Holders Director shall be permitted to
serve as a director or manager, as the case may be, on the board of directors, board of managers or similar governing body of each of the Company’s subsidiaries (other than Affinion Group, Inc. and Affinion International Holdings Limited) for
which any person who is a nominee of Apollo pursuant to the Stockholder Agreement is then serving as a director or manager on the board of directors, board of managers or similar governing body thereof (collectively, the “Subject
Companies”). 
 (iii) For so long as the Series A Holders Director is a director of the Company, the Series A Holders Director
shall (i) be entitled to be notified of all meetings of each committee of (A) the Board, (B) the AGI Board and (C) each Subject Company, including such meeting’s time and place and means of participation (in person,
telephonic or electronic), in the same manner and to the same extent, and at the same time, as members of such committee, but not entitled to be present (in person, telephonically or electronically) at each such meeting; (ii) have access to and
receive, simultaneously with each member of such committee, any and all information (including concurrent receipt of copies of all materials (including copies of all actual and proposed minutes and resolutions of each such meeting and draft and
executed written consents) distributed to members of each such committee) in connection with the meeting or otherwise concerning the business and operations of the Company, AGI or any Subject Company (as applicable) and (iii) have access to any
and all minutes of such committees. 
 (e) Waiver of Stockholder Agreement Rights. Each Legacy Stockholder (on its behalf and on
behalf of any Transferee) hereby irrevocably waives all rights and benefits under Sections 2(a), 2(b), 2(c), 2(d), 2(e), 3 and 5 of the Stockholder Agreement effective upon and following the
occurrence of the Control Event, if it should ever occur. 
 (f) Limitation on the Vote of Legacy Stockholders. With respect to any
matter that is submitted to a vote or consent of the stockholders of the Company with respect to which the holders of Warrants and/or shares of Class B Common Stock are entitled to vote, (a) none of the Legacy Stockholders or any of their
Affiliates shall vote any Warrants or shares of Class B Common Stock for or against such matter, (b) except as otherwise set forth in the immediately following clause (c), the approval of any such matter shall require the vote of holders of a
majority of the outstanding Warrants and shares of Class B Common Stock who vote 

  
 30 

 
on such matter and (c) in connection with the election of the Series A Holders Director, such Director shall be elected by a plurality of the outstanding Warrants and shares of Class B
Common Stock who vote on such matter. 
 Section 8. Miscellaneous Provisions. 

(a) Headings. The heading references herein and the table of contents hereof are for convenience purposes only and shall not be deemed
to limit or affect any of the provisions hereof. 
 (b) SPV. Each Holder that is an entity that was formed for the sole purpose of
acquiring (directly or indirectly) shares of Common Stock or that has no substantial assets other than (direct or indirect interests in) the shares of Common Stock agrees that (i) certificates of shares of its common stock or other instruments
reflecting equity interests in such entity (and the certificates for shares of common stock or other equity interests in any similar entities controlling such entity) will note the restrictions contained in this Agreement on the Transfer of shares
of Common Stock as if such shares of common stock or other equity interests were shares of Common Stock and (ii) no such shares of common stock or other equity interests may be transferred to any Person directly or indirectly (including through
derivative securities) other than in accordance with the terms and provisions of this Agreement as if such shares or equity interests were shares of Common Stock. 

(c) No Other Stockholder Arrangements. No party hereto shall enter into any stockholder agreements or arrangements of any kind with any
Person with respect to any securities of the Company on terms inconsistent with the provisions of this Agreement (whether or not such agreements or arrangements are with other Holders or with Persons that are not parties to this Agreement),
including agreements or arrangements with respect to the acquisition or Transfer of any securities of the Company in a manner inconsistent with this Agreement; provided, however, that for the avoidance of doubt, for these purposes none
of the provisions of the Stockholder Agreement, the Securityholder Rights Agreement or the Registration Rights Agreement shall be deemed inconsistent with this Agreement. 

(d) Governing Law; Jurisdiction. This Agreement shall be governed by, enforced under and construed in accordance with the Laws of the
State of Delaware, without giving effect (to the fullest extent provided by Law) to any choice or conflict of law provision or rule thereof which might result in the application of the Laws of any other jurisdiction. Each of the parties hereby
irrevocably and unconditionally consents to submit to the exclusive jurisdiction of the Delaware State Chancery Court located in Wilmington, Delaware, or (in the event that such court denies jurisdiction) any federal or state court located in the
State of Delaware for any litigation arising out of or relating to this Agreement (and agrees not to commence any litigation relating thereto except in such courts) and further agrees that service of any process, summons, notice or document by U.S.
registered mail shall be effective service of process for any litigation brought against it in any such court. Each party hereby irrevocably and unconditionally waives any objection to the laying of venue of any litigation arising out of this
Agreement in the Delaware State Chancery Court located in Wilmington, Delaware, or (in the event that such court denies jurisdiction) any federal or state court located in the State of Delaware and hereby further irrevocably and unconditionally
waives and agrees not to plead or claim in any such court that any such litigation brought in any such court has been brought in an inconvenient forum. 

  
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 (e) Construction. When a reference is made in this Agreement to an Article, Section or
Exhibit, such reference shall be to an Article or Section of, or an Exhibit to, this Agreement unless otherwise indicated. Whenever the words “include”, “includes” or “including” are used in this Agreement, they shall
be deemed to be followed by the words “without limitation”. The words “hereof”, “herein” and “hereunder” and words of similar import when used in this Agreement shall refer to this Agreement as a whole and not
to any particular provision of this Agreement. All terms defined in this Agreement shall have the defined meanings when used in any certificate or other document made or delivered pursuant hereto unless otherwise defined therein. The definitions
contained in this Agreement are applicable to the singular as well as the plural forms of such terms and to the masculine as well as to the feminine and neuter genders of such term. Any agreement, instrument or statute defined or referred to herein
or in any agreement or instrument that is referred to herein means such agreement, instrument or statute as from time to time amended, modified or supplemented, including (in the case of agreements or instruments) by waiver or consent and (in the
case of statutes) by succession of comparable successor statutes and references to all attachments thereto and instruments incorporated therein. 

(f) Binding Effect. This Agreement shall be binding upon the Company, Apollo, General Atlantic, the Holders, any spouses of the
Holders, and their respective heirs, executors, administrators and permitted successors and assigns. 
 (g) Amendment. This Agreement
may be amended, supplemented or modified from time to time by an instrument in writing signed by the parties having the Required Voting Percentage, provided that (i) this Agreement may be amended by the Company without the consent of any
Holder to cure any ambiguity or to cure, correct or supplement any defective provisions contained herein, or to make any other provisions with respect to matters or questions hereunder as the Company may deem necessary or advisable so long as such
action does not affect adversely the interest of any Holder, (ii) any such amendment, supplement or modification that by its terms affects the rights or obligations of any Holder in a manner that is materially adverse and substantially
different relative to other Holders shall not be enforceable against such Holder without the written consent of such Holder and (iii) the written consent of the Company shall be required, in the event that any such amendment, supplement or
modification imposes a burden or obligation on the Company or adversely affects a benefit or right of the Company under this Agreement. 

(h) Termination. This Agreement shall terminate automatically upon: (i) the dissolution of the Company upon the vote of the
Required Voting Percentage, (ii) upon the occurrence of any event which reduces the number of Holders to zero in accordance with the terms hereof, (iii) the consummation of a Control Disposition or (iv) if at any time following the
consummation of a Qualified Public Offering, fewer than 5% of the aggregate principal amount of the Holdings Senior Notes issued on the date hereof remains outstanding. Any Holder who disposes of all of his, her or its Warrant Shares in conformity
with the terms of this Agreement shall cease to be a party to this Agreement and shall have no further rights hereunder but shall remain subject to Section 4(c) (Confidentiality) and shall not be released from any liability incurred
hereunder prior to the date it ceases to own any Warrant Shares. 

  
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 (i) Spouses. The spouses of the individual Holders are fully aware of, understand and
fully consent and agree to the provisions of this Agreement and its binding effect upon any community property interests or similar marital property interests in the Common Stock they may now or hereafter own, and agree that the termination of their
marital relationship with any Holder for any reason shall not have the effect of removing any Common Stock of the Company otherwise subject to this Agreement from the coverage of this Agreement and that their awareness, understanding, consent and
agreement are evidenced by their signing this Agreement. Furthermore, each individual Holder agrees to cause his or her spouse (and any subsequent spouse) to execute and deliver, upon the request of the Company, a counterpart of this Agreement, or
an Adoption Agreement substantially in the form of Exhibit A or in a form satisfactory to the Company. 
 (j) Specific
Performance; Remedies. Any Transfer or attempted Transfer in breach of this Agreement shall be void and of no effect. In connection with any attempted Transfer in breach of this Agreement, the Company may hold and refuse to Transfer any Common
Stock or any certificate therefor, in addition to and without prejudice to any and all other rights or remedies which may be available to it or the Holders. Each party to this Agreement acknowledges that a remedy at law for any breach or attempted
breach of this Agreement will be inadequate, agrees that each other party to this Agreement shall be entitled to specific performance and injunctive and other equitable relief in case of any such breach or attempted breach and further agrees to
waive (to the extent legally permissible) any legal conditions required to be met for the obtaining of any such injunctive or other equitable relief (including posting any bond in order to obtain equitable relief). 

(k) Counterparts. This Agreement may be executed simultaneously in two or more counterparts, any one of which need not contain the
signatures of more than one party, but all such counterparts taken together will constitute one and the same agreement. It shall not be necessary in making proof of this Agreement to produce or account for more than one such counterpart. The failure
of any Holder to execute this Agreement does not make it invalid as against any other Holder. 
 (l) Severability. Whenever possible,
each provision of this Agreement will be interpreted in such manner as to be effective and valid under applicable Law, but if any provision of this Agreement is held to be invalid, illegal or unenforceable in any respect under any applicable Law or
rule in any jurisdiction, such invalidity, illegality or unenforceability will not affect any other provision or any other jurisdiction, and such invalid, illegal or otherwise unenforceable provisions shall be null and void as to such jurisdiction.
It is the intent of the parties, however, that any invalid, illegal or otherwise unenforceable provisions be automatically replaced by other provisions which are as similar as possible in terms to such invalid, illegal or otherwise unenforceable
provisions but are valid and enforceable to the fullest extent permitted by Law. 
 (m) Further Assurances. Each party hereto shall
cooperate and use their respective reasonable best efforts to take or cause to be taken all appropriate actions and do, or cause to be done, all things necessary or appropriate, including the execution of any additional

  
 33 

 
documents or instruments of any kind and the taking of all such other actions as such party may reasonably be requested to take by the other party hereto from time to time, consistent with the
terms of this Agreement in order to effectuate the provisions and purposes of this Agreement. 
 (n) Extensions; Waivers. No course
of dealing between the Company, or its Subsidiaries, and the Holders (or any of them) or any delay in exercising any rights hereunder will operate as a waiver of any rights of any party to this Agreement. The failure of any party to enforce any of
the provisions of this Agreement will in no way be construed as a waiver of such provisions and will not affect the right of such party thereafter to enforce each and every provision of this Agreement in accordance with its terms. 

(o) WAIVER OF JURY TRIAL. BECAUSE DISPUTES ARISING IN CONNECTION WITH COMPLEX FINANCIAL TRANSACTIONS ARE MOST QUICKLY AND ECONOMICALLY
RESOLVED BY AN EXPERIENCED AND EXPERT PERSON AND THE PARTIES WISH APPLICABLE STATE AND FEDERAL LAWS TO APPLY (RATHER THAN ARBITRATION RULES), THE PARTIES DESIRE THAT THEIR DISPUTES BE RESOLVED BY A JUDGE APPLYING SUCH APPLICABLE LAWS. THEREFORE, TO
ACHIEVE THE BEST COMBINATION OF THE BENEFITS OF THE JUDICIAL SYSTEM AND OR ARBITRATION, THE PARTIES HERETO WAIVE ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, SUIT OR PROCEEDING BROUGHT TO ENFORCE OR DEFEND ANY RIGHT OR REMEDIES UNDER THIS AGREEMENT OR
ANY DOCUMENTS ENTERED INTO IN CONNECTION WITH THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED HEREIN. 
 (p) Registration Rights
Agreement. Each of the parties hereto (a) shall be bound by and subject to the terms of the Registration Rights Agreement, pursuant to the terms thereof, and (b) hereby adopts the Registration Rights Agreement with the same force and
effect as if it were originally a party thereto. 
 (q) Entire Agreement. This Agreement and the Registration Rights Agreement set
forth the entire agreement of the parties hereto as to the subject matter hereof and supersedes all previous agreements among all or some of the parties hereto, whether written, oral or otherwise, as to such subject matter. Unless otherwise provided
herein, any consent required by the Company may be withheld by the Company in its sole discretion. 
 (r) Third Party Beneficiaries.
Nothing herein expressed or implied is intended or shall be construed to confer upon or give to any person other than the parties hereto and their respective permitted successors and assigns, any rights or remedies under or by reason of this
Agreement. 
 (s) Adjustments. If, and as often as, there are any changes in the Common Stock or securities convertible into or
exchangeable into or exercisable for shares of Common Stock as a result of any reclassification, recapitalization, stock split (including a reverse stock split) or subdivision or combination, exchange or readjustment of shares, or any stock dividend
or stock distribution, merger or other similar transaction affecting shares of Common Stock or such securities, appropriate adjustment shall be made in the provisions of this Agreement, as may be required, so that the rights, privileges, duties and
obligations hereunder shall continue with respect to the Common Stock or such securities as so changed. 

  
 34 

 (t) No Recourse. Notwithstanding anything that may be expressed or implied in this
Agreement, and notwithstanding the fact that certain of the Holders may be partnerships or limited liability companies, each party hereto covenants, agrees and acknowledges that no recourse under this Agreement or any documents or instruments
delivered in connection with this Agreement shall be had against any of the Company’s, Apollo Group’s, General Atlantic Group’s or any Holder’s Affiliates, limited partners, members or stockholders or any former, current or
future directors, officers, agents, Affiliates, employees, general or limited partners, members, managers or stockholders of any of the foregoing, as such (collectively, the “Related Parties”), whether by the enforcement of any
assessment or by any legal or equitable proceeding, or by virtue of any applicable Law, it being expressly agreed and acknowledged that no personal liability whatsoever shall attach to, be imposed on or otherwise be incurred by any of the Related
Parties, as such, for any obligation or liability of the Company, Apollo Group, General Atlantic Group or any Holder under this Agreement or any documents or instruments delivered in connection herewith for any claim based on, in respect of or by
reason of such obligations or liabilities or their creation; provided, however, that nothing in this Section 8(t) shall relieve or otherwise limit the liability of any Person for any breach or violation of its obligations
under such agreements, documents or instruments to which it is a party. 
 (u) Additional Shares. In the event additional shares of
Common Stock are issued by the Company to a Holder at any time during the term of this Agreement upon the exercise Warrants, such additional shares of Common Stock, as a condition to their issuance, shall become subject to the terms and provisions
of this Agreement. 
 (v) Assignment. This Agreement is intended to bind and inure to the benefit of the parties hereto and their
respective successors, assigns, heirs, executors, administrators and representatives, provided that, no party may assign any or all of its rights or obligations under this Agreement except in connection with a Transfer of Securities in accordance
with the terms and conditions of this Agreement. 
 *  *  *  *  * 

  
 35 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed the day and year
first written above. 
  

					
	AFFINION GROUP HOLDINGS, INC.
		
	By:	 	 /s/ Todd H. Siegel

		 	Name:	 	Todd H. Siegel
		 	Title:	 	Chief Executive Officer

  
 [Signature Page to
Warrantholder Rights Agreement] 

					
	AFFINION GROUP HOLDINGS, LLC
		
	By:	 	 /s/ Marc E. Becker

		 	Name:	 	Marc E. Becker
		 	Title:	 	President

  
 [Signature Page to
Warrantholder Rights Agreement] 

					
	GAPCO GMBH & CO. KG
	By:	 	GAPCO Management GmbH,
		 	its General Partner
		
	By:	 	 /s/ Thomas J Murphy

		 	Name:	 	Thomas J. Murphy
		 	Title:	 	Managing Director
	
	GAP COINVESTMENTS III, LLC
	By:	 	General Atlantic LLC, its Managing Member
		
	By:	 	 /s/ Thomas J Murphy

		 	Name:	 	Thomas J. Murphy
		 	Title:	 	Managing Director
	
	GAP COINVESTMENTS IV, LLC
	By:	 	General Atlantic LLC, its Managing Member
		
	By:	 	 /s/ Thomas J Murphy

		 	Name:	 	Thomas J. Murphy
		 	Title:	 	Managing Director
	
	GAPSTAR, LLC
		
	By:	 	 /s/ Thomas J Murphy

		 	Name:	 	Thomas J. Murphy
		 	Title:	 	Managing Director

  
 [Signature Page to
Warrantholder Rights Agreement] 

					
	GAP-W HOLDINGS, L.P.
	By:	 	General Atlantic GenPar, L.P.,
		 	its General Partner
		
	By:	 	General Atlantic LLC,
		 	its General Partner
		
	By:	 	 /s/ Thomas J Murphy

		 	Name:	 	Thomas J. Murphy
		 	Title:	 	Managing Director
	
	GENERAL ATLANTIC PARTNERS 79, L.P.
	By:	 	General Atlantic LLC,
		 	its General Partner
		
	By:	 	 /s/ Thomas J Murphy

		 	Name:	 	Thomas J. Murphy
		 	Title:	 	Managing Director

  
 [Signature Page to
Warrantholder Rights Agreement] 

					
	WARRANTHOLDERS AND HOLDERS OF WARRANT SHARES (as evidenced by their execution of an Adoption Agreement attached hereto)

  
 [Signature Page to
Warrantholder Rights Agreement] 

 EXHIBIT A 

ADOPTION AGREEMENT 
 This Adoption
Agreement (“Adoption”) is executed pursuant to the terms of the Warrantholder Rights Agreement dated as of December 12, 2013, a copy of which is attached hereto (the “Warrantholder Rights Agreement”), by the
transferee (“Transferee”) executing this Adoption. By the execution of this Adoption, the Transferee agrees as follows: 
 1.
Acknowledgement. Transferee acknowledges that Transferee is acquiring certain securities of Affinion Group Holdings, Inc., a Delaware corporation (the “Company”), subject to the terms and conditions of the Warrantholder Rights
Agreement. Capitalized terms used herein without definition are defined in the Warrantholder Rights Agreement and are used herein with the same meanings set forth therein. 

2. Agreement. Transferee (i) agrees that the securities acquired by Transferee shall be bound by and subject to the terms of the Warrantholder Rights
Agreement, pursuant to the terms thereof as a [Holder] / [Legacy Stockholder], and (ii) hereby adopts the Warrantholder Rights Agreement with the same force and effect as if he were originally a party thereto. 

3. Notice. Any notice required as permitted by the Warrantholder Rights Agreement shall be given to Transferee at the mailing or electronic-mail address
listed beside Transferee’s signature below. 
 4. Joinder. The spouse of the undersigned Transferee, if applicable, executes this Adoption to
acknowledge its fairness and that it is in such spouse’s best interest, and to bind such spouse’s community interest, if any, in the securities referred to above and in the Warrantholder Rights Agreement, to the terms of the Warrantholder
Rights Agreement. 

 

			
	[UNDERSIGNED]
		
	By:	 	  

	Name:	 	
	Title:	 	
	Date:	 	
	
	[UNDERSIGNED’S SPOUSE (IF APPLICABLE)]
		
	By:	 	  

	Name:	 	
	Title:	 	
	Date:	 	

 

			
	Address for Notices:
	  

	  

	  

	Email:	 	  

	Attn:	 	  

 
 

  
 B-1 

 ANNEX I 

 

 

 If to the Company: 

Affinion Group Holdings, Inc. 
 6 High Ridge Park 

Stamford, CT 06905 
 Facsimile: (203) 956-1021 

Attention: Chief Financial Officer 
 Email:
tsiegel@affiniongroup.com 
 with a copy (which shall not constitute notice) to: 

Akin Gump Strauss Hauer & Feld LLP 
 One Bryant Park,

 New York, New York 10036 
 Telephone: 212-872-1000 

Facsimile: 212-872-1002 
 Email: aweinstein@akingump.com 

Attn: Adam Weinstein, Esq. 
 If to Apollo: 

Affinion Group Holdings, LLC 
 c/o Apollo Management V, L.P. 

9 West 57th Street 
 New York, NY 10019 

Facsimile: (212) 515-3264 
 Email: becker@apollolp.com 

Attention: Marc Becker 
 with a copy (which shall not constitute
notice) to: 
 Akin Gump Strauss Hauer & Feld LLP 
 One
Bryant Park, 
 New York, New York 10036 
 Telephone:
212-872-1000 
 Facsimile: 212-872-1002 
 Email:
aweinstein@akingump.com 
 Attn: Adam Weinstein, Esq. 
 If to
General Atlantic: 
 General Atlantic Partners 79, L.P. 
 c/o
General Atlantic Service Company, LLC 
 3 Pickwick Plaza 

Greenwich, Connecticut 06830 

 

  
 Annex I-1 

 

 Facsimile: 212-759-5708 

Email: clanning@generalatlantic.com 
 Attention: General Counsel

 with a copy (which shall not constitute notice) to: 
 Paul,
Weiss, Rifkind, Wharton & Garrison LLP 
 1285 Avenue of the Americas 

New York, NY 10019-6064 
 Telephone: 212-373-3000 

Facsimile: 212-757-3990 
 Email: mabbott@paulweiss.com 

Attention: Matthew W. Abbott 
 If to [Holder]: 

[Address] 
 Facsimile: 

Email: 
 Attention: 

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

[Holder’s Counsel] 
 [Address] 

Telephone: 
 Facsimile: 

Email: 
 Attn:

 

  
 Annex I-2 

 ANNEX II 

Registration Rights Agreement 

  
 Annex II-1 

 SCHEDULE I 

Prohibited Transferees 
 Stuart L. Bell
and any Person Controlled by Stuart L. Bell. 

  
 Schedule I 

 Schedule 6.3(b)(iii) 

Capitalization 
 As
of December 12, 2013 
 AFFINION GROUP HOLDINGS, INC. 
  

									
	 Owner of record
	  	Class A
Common
Stock	 	  	Percentage	 
			
	 Affinion Group Holdings, LLC
	  	 	57,750,000	  	  	 	68.01	% 
			
	 General Atlantic Partners 79, L.P.
	  	 	12,702,156	  	  	 	14.96	% 
			
	 GapStar, LLC
	  	 	218,374	  	  	 	0.26	% 
			
	 GAPCO GmbH & Co. KG
	  	 	27,289	  	  	 	0.03	% 
			
	 GAP-W Holdings, L.P.
	  	 	3,320,130	  	  	 	3.91	% 
			
	 GAP Coinvestments III, LLC
	  	 	953,373	  	  	 	1.12	% 
			
	 GAP Coinvestments IV, LLC
	  	 	248,611	  	  	 	0.29	% 
			
	 All other holders (1)
	  	 	9,693,680	  	  	 	11.42	% 
		  	  
	  
	 	  	  
	  
	 
			
	 Total
	  	 	84,913,613	  	  	 	100.00	% 

  

	(1)	As of December 12, 2013, there are no other persons that hold 5% or more of the issued and outstanding common stock of the Company. 

  
 Schedule 6.3(b)(iii) 

 Schedule 6(b)(iv) 

Derivatives 
  

	1.	As of December 12, 2013, Affinion Group Holdings, Inc. had 7,038,095 outstanding stock options and 426,313 outstanding restricted stock units. 

 

	2.	As of December 12, 2013, Affinion International Holdco (Proprietary) Limited (“Holdco”) and Bassae Holdings N.V. (“Bassae”) granted to the sole owner of MEM Marketing (Proprietary)
Limited (“MEM”) a put option which, if exercised, would require Bassae or Affinion International Holdco (Proprietary) Limited to purchase MEM’s 49% ownership interest in Cims South Africa (Proprietary) Limited. The option may
be exercised from January 1, 2014 through December 31, 2015. If MEM does not exercise the option but seeks to sell its ownership interest to another party, Bassae has a right of first refusal. 

 

	3.	As of December 12, 2013, Affinion International Limited (“AIL”) had a call option to purchase the remaining 10% ownership interest in Boyner Bireysel Urunler Satis ve Pazarlama A.S
(“Back-Up”), a Turkish provider of assistance and consultancy services to its members. The option can be exercised by AIL between November 14, 2017, and November 14, 2020. AIL currently owns through its wholly owned
subsidiary a 90% ownership interest in Back-Up. The current owner of the remaining 10% ownership interest in Back-Up also has the right to put such interest to AIL after November 14, 2020, or if its equity interest in Back-Up is diluted to less
than 10%. 

  

	4.	As of December 12, 2013, AIL had a call option to purchase the remaining 40% ownership interest in Aerobase S.r.l. (“Aerobase”), a Italian provider of travel, leisure and personal care products.
The option can be exercised by AIL within 30 days following receipt of Aerobase’s audited financial statements for its fiscal years ending October 2015, 2016 and 2017. AIL currently owns through its wholly owned subsidiary a 60% ownership
interest in Aerobase. The current owner of the remaining 40% ownership interest in Aerobase also has the right to put such interest to AIL during the same time period in which AIL can exercise its call option. 

  
 Schedule 6.3(b)(iv)EX-10.4

 Exhibit 10.4 
  

 
  

SECOND AMENDED AND RESTATED 

REGISTRATION RIGHTS AGREEMENT 

Among 
 AFFINION GROUP
HOLDINGS, INC. 
 AND 

THE HOLDERS PARTY HERETO 

DATED DECEMBER 12, 2013 
  

 
  

 TABLE OF CONTENTS 

 

							
			
	 Section 1.
	 	 Definitions.
	  	 	1	  
			
	 Section 2.
	 	 Demand Registration.
	  	 	7	  
			
	 Section 3.
	 	 Piggyback Registration.
	  	 	9	  
			
	 Section 4.
	 	 Registrations on Form S-3.
	  	 	10	  
			
	 Section 5.
	 	 Holdback Agreement.
	  	 	14	  
			
	 Section 6.
	 	 Preparation and Filing.
	  	 	15	  
			
	 Section 7.
	 	 Registration Expenses.
	  	 	18	  
			
	 Section 8.
	 	 Indemnification.
	  	 	19	  
			
	 Section 9.
	 	 Participation in Underwritten Offering.
	  	 	21	  
			
	 Section 10.
	 	 Exchange Act Compliance.
	  	 	21	  
			
	 Section 11.
	 	 Effectiveness.
	  	 	21	  
			
	 Section 12.
	 	 Severability.
	  	 	22	  
			
	 Section 13.
	 	 Governing Law.
	  	 	22	  
			
	 Section 14.
	 	 Transfers.
	  	 	22	  
			
	 Section 15.
	 	 Successors and Assigns.
	  	 	22	  
			
	 Section 16.
	 	 Notices.
	  	 	23	  
			
	 Section 17.
	 	 Headings.
	  	 	24	  
			
	 Section 18.
	 	 Additional Parties.
	  	 	24	  
			
	 Section 19.
	 	 Adjustments.
	  	 	24	  
			
	 Section 20.
	 	 Entire Agreement.
	  	 	25	  
			
	 Section 21.
	 	 Counterparts.
	  	 	25	  
			
	 Section 22.
	 	 Amendment.
	  	 	25	  
			
	 Section 23.
	 	 Further Assurances.
	  	 	25	  
			
	 Section 24.
	 	 No Third-Party Beneficiaries.
	  	 	25	  
			
	 Section 25.
	 	 Interpretation.
	  	 	26	  

  
 i 

 THIS SECOND AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT, dated as of
December 12, 2013 (this “Agreement”), is entered into by and among AFFINION GROUP HOLDINGS, INC., a Delaware corporation (the “Company”), and each of the Holders of the Company that are parties
hereto. 
 WHEREAS, on January 14, 2011, the parties entered into that certain Amended and Restated Registration Rights
Agreement (as may be amended from time to time, the “Old Agreement”) in connection with the consummation of the Agreement and Plan of Merger, dated as of January 14, 2011, by and among Affinion Group, Inc., Webloyalty Holdings,
Inc. and the other parties thereto; 
 WHEREAS, the parties desire to amend the terms of the Old Agreement in connection with a
proposed restructuring of the Company’s and it subsidiaries’ outstanding indebtedness pursuant to (i) exchange offers for the Company’s outstanding 11.625% Senior Notes due 2015 and Affinion Group, Inc.’s
(“AGI”) outstanding 11 1⁄2% Senior Subordinated Notes due 2015 and (ii) amendments to AGI’s amended and restated credit agreement
(collectively, the “Transactions”); 
 WHEREAS, each party hereto deems it to be in the best interest of the
Company and the parties that provision be made for the continuity and stability of the business and policies of the Company, and, to that end, the Company and the parties hereby set forth their agreement with respect to the shares of Common Stock
now owned or hereafter owned by them; and 
 NOW, THEREFORE, in consideration of the promises and of the mutual consents and
obligations hereinafter set forth, the parties hereby agree as follows: 
 Section 1. Definitions. 

As used herein, the following terms shall have the following respective meanings: 

“Adoption Agreement” shall mean an Adoption Agreement in the form attached hereto as Exhibit A. 

“Affiliate” of a Holder that is not a natural person means a Person that directly, or indirectly through one or more
intermediaries, Controls, or is Controlled by, or is under common Control with, such Person. Notwithstanding the foregoing, the term “Affiliate” shall include any investment fund, the sole owner of which is or, if not the sole owner, the
primary investment managers of which are (x) with respect to Apollo, Apollo Management V, L.P., Apollo Global Management, LLC or their respective Affiliates (including their respective successors and Subsidiaries, but excluding their respective
portfolio companies) and (y) with respect to General Atlantic, General Atlantic LLC or its Affiliates (including their respective successors and Subsidiaries, but excluding their portfolio companies). 

“Affiliate” of a Holder that is an individual means: (i) any member of the immediate family of an individual Holder,
including parents, siblings, spouse and children (including those by adoption); the parents, siblings, spouse, or children (including those by adoption) of such immediate family member, and in any such case any trust whose primary beneficiary is
such individual Holder or one or more members of such immediate family and/or 

  
 1 

 
such Holder’s lineal descendants; (ii) the legal representative or guardian of such individual Holder or of any such immediate family member in the event such individual Holder or any
such immediate family member becomes mentally incompetent; and (iii) any Person Controlling, Controlled by or under common Control with such Holder. 

“Agreement” shall have the meaning ascribed to it in the introductory paragraph. 

“Apollo” shall mean investment funds managed by Apollo Management V, L.P., Apollo Global Management, LLC or any of their
respective Affiliates. 
 “Automatic Shelf Registration Statement” shall mean an “automatic shelf registration
statement” as defined in Rule 405 (or successor rule) promulgated under the Securities Act. 
 “beneficially owned”,
“beneficial ownership” and similar phrases have the same meanings as such terms have under Rule 13d-3 (or any successor rule then in effect) under the Exchange Act, except that in calculating the beneficial ownership of any Holder,
such Holder shall be deemed to have beneficial ownership of all securities that such Holder has the right to acquire, whether such right is currently exercisable or is exercisable upon the occurrence of a subsequent event. For the avoidance of
doubt, each Major Stockholder shall be deemed to beneficially own all of the shares of Common Stock held by any of its Affiliates. Notwithstanding anything to the contrary set forth in this Agreement, no Holder shall be deemed to have agreed with
any other Holder to act together for the purpose of acquiring, holding, voting or disposing of the Common Stock or to form a “group” (as such term is used in Rule 13d-5 under the Exchange Act), in each case, solely as a result of the
existence of this Agreement, the Stockholder Agreement, the Securityholder Rights Agreement, the Warrantholder Rights Agreement, the WL Securityholder Rights Agreement or the WL Stockholder Agreement. 

“Board” shall mean the Board of Directors of the Company and any duly authorized committee thereof. All determinations by the
Board required pursuant to the terms of this Agreement to be made by the Board shall be binding and conclusive, if made in good faith. 

“Business Day” shall mean any day other than a Saturday, a Sunday or a day on which banks in New York, New York are
authorized or obligated by Law or executive order to close. 
 “Commission” shall mean the Securities and Exchange
Commission or any other Federal agency at the time administering the Securities Act. 
 “Common Stock” shall mean the
common stock of the Company, par value $.01 per share. 
 “Company” shall have the meaning ascribed to it in the
introductory paragraph. 
 “Control,” and its correlative meanings, “Controlling,” and “Controlled,”
shall mean the possession, direct or indirect, or the power to direct or cause the direction of the management and policies of a Person, whether through the ownership of voting securities, by contract or otherwise. 

  
 2 

 “Demand Holder” shall mean Parent (and, subject to Section 14, its
Transferees), Holders of a majority of the Eligible Shares held by the Principal WL Stockholders (and, subject to Section 14, their respective Transferees) and, collectively as a group, the Warrantshare Holders. 

“Demand Notice” shall have the meaning ascribed to it in Section 2(a). 

“Demand Registration” shall mean a registration of Shares pursuant to Section 2(a). 

“Demand Rights” shall have the meaning ascribed to it in Section 2(a)(i). 

“Determination Date” shall have the meaning ascribed to it in Section 4(d)(v). 

“Eligible Shares” shall mean, at any time, any Shares now owned or hereafter acquired held or beneficially owned by any
Holder or which such Holder has the right to acquire pursuant to the exercise of any option, warrant or right or the conversion or exchange of any convertible or exchangeable security, regardless of whether then exercisable, convertible or
exchangeable; provided, however, that as to any Eligible Shares, such securities shall cease to be Eligible Shares (i) upon the sale thereof pursuant to an effective registration statement, (ii) upon the sale thereof pursuant
to Rule 144 (or successor rule) under the Securities Act, (iii) when such Shares may be sold by the Holder thereof without limitation pursuant to Rule 144 (or successor rule) under the Securities Act or (iv) when such securities cease to
be outstanding. 
 “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended, and the rules and regulations
thereunder. 
 “FINRA” shall mean the Financial Industry Regulatory Authority. 

“General Atlantic” shall mean General Atlantic LLC and its Affiliated investment partnerships. 

“Holders” shall mean the holders of Shares who are parties hereto as set forth in Schedule I hereto, as the same may
be amended or supplemented from time to time (or Transferees of such Holders that acquire Eligible Shares in accordance with Section 14 and execute an Adoption Agreement in accordance with Section 14). 

“Information” shall have the meaning ascribed to it in Section 6(i). 

“Initial Notice” shall have the meaning ascribed to it in Section 3(a). 

“Initial Public Offering” shall mean the consummation of an initial Underwritten Offering of Shares pursuant to an effective
registration statement filed by the Company with the Commission (other than on Forms S-4 or S-8 or successors to such forms) under the Securities Act. 

“Inspectors” shall have the meaning ascribed to it in Section 6(i). 

  
 3 

 “Lock-up Period” shall have the meaning ascribed to it in
Section 5(a). 
 “Major Stockholder” means (i) Apollo and each of its Transferees; and (ii) General
Atlantic and each of its Transferees, in each case, so long as such Person beneficially owns, together with its Affiliates, a number of issued and outstanding shares of Common Stock equal to at least 50% of the number of shares of Common Stock
issued to General Atlantic and its Affiliates as of January 14, 2011. 
 “Marketed Underwritten Shelf Take-Down” shall
have the meaning ascribed to it in Section 4(d)(ii). 
 “Non-Marketed Shelf Take-Down” shall have the meaning
ascribed to it in Section 4(d)(iii). 
 “Parent” shall mean Affinion Group Holdings, LLC, a Delaware limited
liability company, and its successors. 
 “Person” shall be construed broadly and shall include, without limitation, an
individual, a partnership, a limited liability company, a corporation, an association, a joint stock company, a trust, a joint venture, an unincorporated organization and a governmental entity or any department, agency or political subdivision
thereof. 
 “Piggyback Notice” shall have the meaning ascribed to it in Section 3(a). 

“Piggyback Registration” shall mean any registration pursuant to Section 3. 

“Principal WL Stockholder” shall mean each of General Atlantic, Richard Fernandes, the Fernandes Family Trust A dated
June 25, 1999, Vincent D’Agostino and the D’Agostino Family Trust A dated 4/8/99. 
 “Prospectus” shall mean
the prospectus included in any Registration Statement, as amended or supplemented by any prospectus supplement with respect to the terms of the offering of any portion of the securities covered by such Registration Statement and, in each case, by
all other amendments and supplements to such prospectus, including post-effective amendments and, in each case, all material incorporated by reference in such prospectus. 

“Public offering” shall mean the consummation of an offering of Common Stock by the Company (or any successor-in-interest
thereof) which is made pursuant to an effective registration statement. 
 “Records” shall have the meaning ascribed to it
in Section 6(i). 
 “Registration Expenses” shall have the meaning ascribed to it in Section 7 of
this Agreement. 
 “Registration Statement” shall mean any Registration Statement of the Company which covers the Eligible
Shares, including any preliminary Prospectus and the Prospectus, amendments and supplements to such Registration Statement, including post-effective amendments, all exhibits thereto and all material incorporated by reference in such Registration
Statement. 

  
 4 

 “Requesting Holder” shall mean the Holders exercising a Demand Right. 

“Rule 144” shall mean Rule 144 under the Securities Act. 

“Securities Act” shall mean the Securities Act of 1933, as amended, and the rules and regulations thereunder. 

“Securityholder Rights Agreement” means that certain Securityholder Rights Agreement, dated as of January 14, 2011, by
and among the Company and the investors party thereto. 
 “Selling Investors” shall mean the Holders selling Eligible
Shares pursuant to a Registration Statement under this Agreement. 
 “Selling Investors’ Counsel” shall have the
meaning set forth in Section 6(b). 
 “Shares” shall mean any shares of Common Stock and shall also include any
equity security of the Company or any successor thereto, issued in respect of or in exchange for Shares, whether by way of dividend or other distribution, split, recapitalization, merger, rollup transaction, consolidation or reorganization. For the
avoidance of doubt, the term Shares as used herein shall not include any Warrants. 
 “Shelf Holder” shall have the meaning
ascribed to it in Section 4(d)(i). 
 “Shelf Registration” shall have the meaning ascribed to it in
Section 4(a)(i). 
 “Shelf Take-Down” shall have the meaning ascribed to it in Section 4(d)(i).

 “Short-Form Registration” shall have the meaning ascribed to it Section 4(a)(i). 

“Short-Form Registration Notice” shall have the meaning ascribed to it Section 4(a)(ii). 

“SPV Affiliate” shall mean, with respect to Apollo, any Affiliate of Apollo, or, with respect to General Atlantic, any
Affiliate of General Atlantic, in each case whose direct or indirect interest in the Common Stock constitutes more than 50% (by value) of the equity securities portfolio of that Affiliate. 

“Stockholder Agreement” shall mean the Stockholder Agreement, dated as of the date hereof, among the Company and the parties
thereto (as it may be amended, supplemented, restated or otherwise modified from time to time). 
 “Transfer” shall mean
any direct or indirect sale, assignment, transfer, conveyance, gift, bequest by will or under intestacy laws, pledge, hypothecation or other encumbrance, or any other disposition, of the stated security (or any interest therein or right

  
 5 

 
thereto, including the issuance of any total return swap or other derivative whose economic value is primarily based upon the value of the stated security) or of all or part of the voting power
(other than the granting of a revocable proxy) associated with the stated security (or any interest therein) whatsoever, or any other transfer of beneficial ownership of the stated security, with or without consideration and whether voluntarily or
involuntarily (including by operation of law). Notwithstanding anything to the contrary set forth herein, transfers of an interest in Apollo or any of its Affiliates (other than any SPV Affiliate) or in General Atlantic or any of its Affiliates
(other than any SPV Affiliate) shall not be deemed a Transfer. 
 “Transferee” shall mean a Person acquiring Shares prior
to an Initial Public offering through a Transfer. 
 “Underwritten Offering” shall mean a sale, on the Company’s or
any Holder’s behalf, of Shares by the Company or a Holder to an underwriter for reoffering to the public. 
 “Underwritten
Shelf Take-Down” shall have the meaning ascribed to it in Section 4(d)(ii). 
 “Underwritten Shelf Take-Down
Notice” shall have the meaning ascribed to it in Section 4(d)(ii). 
 “Warrantholder Rights Agreement”
shall mean that certain Warrant Agreement, dated as of December 12, 2013, by and between the Company and Wells Fargo Bank, National Association, as warrant agent. 

“Warrants” shall mean the Series A Warrants and Series B Warrants of the Company, whether exercisable or not, in each case as
defined in the Warrantholder Rights Agreement. 
 “Warrantshare Holders” means the persons party to this Agreement that
received Warrantshares upon the valid exercise of any Warrants. The exercise of any rights or privileges of the Warrantshare Holders, including without limitation any Demand Rights, consent rights, waivers or other rights contained herein, shall be
by the holders of a majority of the Warrantshares held by the Warrantshare Holders. 
 “Warrantshares” shall mean the
Shares issued upon the valid exercise of any Warrants. 
 “Well-Known Seasoned Issuer” shall mean a “well-known
seasoned issuer” as defined in Rule 405 (or successor rule) promulgated under the Securities Act. 
 “WL Securityholder Rights
Agreement” shall mean that certain Securityholder Rights Agreement, dated as of the date hereof, among the Company, Apollo, General Atlantic and the holders party thereto (as it may be amended, supplemented, restated or otherwise modified
from time to time). 

  
 6 

 “WL Stockholder Agreement” shall mean the Stockholder Agreement, dated as of
May 12, 2005, by and among Webloyalty Holdings, Inc. and the parties thereto (as it may be amended, supplemented, restated or otherwise modified from time to time). 

Section 2. Demand Registration. 
 (a)
Right to Demand; Demand Notices. 
 (i) Subject to the provisions of this Section 2, each Demand Holder shall have the
right to request that the Company register under the Securities Act all or part of the Eligible Shares beneficially owned by such Demand Holder (each such right, a “Demand Right”) at any time and from time to time after the date
hereof. Notwithstanding the foregoing, (A) (1) prior to the Control Event, if it should ever occur, Parent shall have only six such Demand Rights and (2) following the Control Event, if it should ever occur, Parent shall have the
lesser of (I) three such Demand Rights and (II) the remainder of six minus the number of Demand Rights exercised by Parent hereunder prior to the Control Event, in each case in addition to the exercise of Demand Rights in connection with the
Initial Public Offering; (B) the Principal WL Stockholders shall have, in the aggregate, only two Demand Rights in addition to the exercise of Demand Rights in connection with the Initial Public Offering; provided, that, the Principal WL
Stockholders may only exercise Demand Rights with respect to an Initial Public Offering if (x) such exercise is made after the third anniversary of the date of this Agreement, (y) General Atlantic is a Requesting Holder and
(z) General Atlantic and its Affiliates own at the time of such Demand Rights exercise a number of Shares equal to at least 50% of the Shares issued to General Atlantic and its Affiliates on the date of this Agreement (subject to adjustment for
stock dividends, stock splits, combinations, recapitalizations and similar events); (C) the Warrantshare Holders shall have, acting collectively and in the aggregate, only two Demand Rights; provided, that the Warrantshare Holders may only
exercise Demand Rights following the consummation of the Initial Public Offering; and (D) a Demand Right may be exercised only if the aggregate offering price of the Shares to be sold in the applicable offering (before deduction of underwriter
discounts and commissions) is reasonably expected to exceed, in the aggregate, $75 million; provided, however, that following the Control Event, if it should ever occur, neither Parent nor the Principal WL Stockholders shall be
permitted to exercise any of their Demand Rights prior to or in connection with the consummation of the Initial Public Offering. No registration effected pursuant to Section 4 shall be counted as a Demand Right for purposes of
Section 2(a). 
 (ii) All requests made pursuant to this Section will specify the aggregate amount of Shares to be registered
and will also specify the intended methods of disposition thereof (each such request, a “Demand Notice”). Subject to Section 2(b), promptly upon receipt of any such Demand Notice, the Company will use its best efforts to
effect within 120 days such registration under the Securities Act of the Shares which the Company has been so requested to register. A registration shall not constitute a Demand Registration if such Demand Registration has not become effective
within 150 days following the date of any Demand Notice. 
 (b) Company’s Right to Defer Registration. If the Company receives a
Demand Notice and the Company furnishes to the Requesting Holder a copy of a resolution of the Board certified by the secretary of the Company stating that in the good faith judgment of the Board it would be materially adverse to the Company for
such Registration Statement to be filed on or 

  
 7 

 
before the date such filing would otherwise be required hereunder, the Company shall have the right to defer such filing for a period of not more than 90 days or, in the case of a deferral
following approval by the Board of the filing of a registration statement in connection with a primary offering, for a period of not more than 180 days after receipt of the request for such registration. If the Company shall so postpone the filing
of a Registration Statement and if the Requesting Holder within 30 days after receipt of the notice of postponement advises the Company in writing that it has determined to withdraw such Demand Notice, then such Demand Registration shall be deemed
to be withdrawn and shall not be deemed to be an exercise of one of the Demand Rights to which such Requesting Holder is entitled under Section 2(a). The Company shall not use the deferral right provided under this
Section 2(b), together with any other deferral or suspension of the Company’s obligations under Section 4, more than twice in any 12-month period. 

(c) Registration Statement Form. Registrations under this Section 2 shall be on such appropriate registration form of the
Commission (i) as shall be selected by the Company and as shall be reasonably acceptable to the Requesting Holder and (ii) as shall permit the disposition of such Shares in accordance with the intended method or methods of disposition
specified in the Demand Notice. If, in connection with any registration under this Section 2 which is proposed by the Company to be on Form S-3 or any successor form, the managing underwriter, if any, shall advise the Company in writing
that in its opinion the use of another permitted form is of material importance to the success of the offering, then such registration shall be on such other permitted form. 

(d) Effective Registration Statement. The Company shall be deemed to have effected a Demand Registration only if the Registration
Statement relating to such Demand Registration is declared effective by the Commission and the Holders exercising Demand Rights have been able to sell at least 90% of the Eligible Shares that they have requested to sell in the Demand Notice. 

(e) Underwriter’s Cutback. If the managing underwriter of an offering made pursuant to this Section 2 advises the
Company that the inclusion of all such Eligible Shares proposed to be included in such Registration Statement would interfere with the successful marketing (including pricing) of the Common Stock to be offered thereby, then the number of Shares
proposed to be included in such Demand Registration shall be allocated among the Company and all Selling Investors of the Company proportionately, such that the number of Shares that each Selling Investor shall be entitled to sell in the offering
shall be included in the following order: 
 (i) first, the Eligible Shares held by the Holders requesting their Eligible Shares be included
in such registration pursuant to the terms of this Agreement and Shares held by any other Person who has rights to participate in such offering pursuant to a registration rights agreement or arrangement with the Company, pro rata based upon
the number of Shares owned by each such Person at the time of such registration; and 
 (ii) second, the Shares to be sold by the Company.

  
 8 

 Notwithstanding anything to the contrary set forth in this Section 2, if the managing underwriter for
the offering advises the Company that the inclusion of the number of Eligible Shares proposed to be included in any Registration Statement by any Holder serving as a director, officer or key employee of the Company would interfere with the
successful marketing (including pricing) of the Common Stock to be offered thereby, then the number of Shares proposed to be included in such Demand Registration by such Holder shall be reduced to the lower of the number of such Shares that the
managing underwriter advises that such Holder may sell in the offering and the number of such Shares calculated pursuant to the foregoing. 

(f) Selection of Underwriters. If any offering pursuant to a Demand Registration involves an Underwritten Offering, Parent, prior to
the Control Event, if it should ever occur, and for so long as it owns no less than 40% of the Eligible Shares owned by it as of the date hereof, and thereafter, the holders of a majority of the Eligible Shares outstanding to be included in such
Registration Statement, shall have the right to select the managing underwriter or underwriters to administer the offering, which managing underwriters shall be a firm of nationally recognized standing and reasonably satisfactory to the Company and
the holders of a majority of the Eligible Shares to be included in such Registration Statement. 
 Section 3. Piggyback Registration. 

(a) Notices. If the Company at any time proposes for any reason to register Shares under the Securities Act (other than a registration
on Form S-4 or Form S-8, or any successor of either such form, or a registration relating solely to the offer and sale to the Company’s employees pursuant to any employee stock plan or other employee benefit plan arrangement) whether or not in
connection with any Demand Registration pursuant to Section 2 or pursuant to Section 4 (a “Piggyback Registration”), the Company shall give written notice to each Holder of its intention to so register the
Shares at least 30 days before the filing of such Registration Statement (the “Initial Notice”). The Company shall, subject to the provisions of (b) Section 3(b) and Section 3(c) below, use commercially reasonable
efforts to include in such Piggyback Registration on the same terms and conditions as the securities otherwise being sold, all Eligible Shares with respect to which the Company has received written requests for inclusion therein within 25 days after
sending the Initial Notice (the “Piggyback Notice”), which Piggyback Notice shall specify the number of Shares proposed to be included in the Piggyback Registration and shall also specify the intended methods of disposition thereof.

 (b) Underwriter’s Cutback. If the managing underwriter advises the Company that the inclusion of all such Eligible Shares
proposed to be included in the Piggyback Registration would interfere with the successful marketing (including pricing) of the Eligible Shares to be offered thereby, then the number of Shares proposed to be included in such Piggyback Registration
shall be allocated among the Company and all Selling Investors of the Company proportionately, such that the number of Shares that the Company and each Selling Investor shall be entitled to sell in the Public Offering shall be included in the
following order: 
 (i) first, the Shares held by the Company, or, to the extent the registration referred to in Section 3(a) is
a registration on behalf of any Person other than the Company pursuant to a registration rights agreement or arrangement with the Company, the Shares held by such Person; 

  
 9 

 (ii) second, the Shares held by the Selling Investors and Shares held by any other Person who has
the right to participate in such offering pursuant to a registration rights agreement or arrangement with the Company, pro rata based upon the number of Shares owned by each such Person at the time of such registration; and 

(iii) third, to the extent the registration referred to in Section 3(a) is a registration on behalf of any Person other than the
Company pursuant to a registration rights agreement or arrangement with the Company, the Shares to be sold by the Company. 
 Notwithstanding anything to
the contrary set forth in this Section 3, if the managing underwriter advises the Company that the inclusion of the number of Eligible Shares proposed to be included in any Piggyback Registration by any Holder serving as a director,
officer or key employee of the Company would interfere with the successful marketing (including pricing) of the Eligible Shares to be offered thereby, then the number of Shares proposed to be included in such Piggyback Registration by such Holder
shall be reduced to the lower of the number of such Shares that the managing underwriter advises that such Holder may sell in the offering and the number of such Shares calculated pursuant to the foregoing. 

(c) Company Control. Except for a Registration Statement being filed in connection with the exercise of a Demand Right, the Company may
decline to file a Registration Statement after an Initial Notice has been given or after receipt by the Company of a Piggyback Notice, and the Company may withdraw a Registration Statement after filing and after such Initial Notice or Piggyback
Notice, but prior to the effectiveness of the Registration Statement, provided that (i) the Company shall promptly notify the Selling Investors in writing of any such action and (ii) nothing in this Section 3(c) shall
prejudice the right of any Demand Holder to immediately request that such registration be effected as a registration under Section 2 to the extent permitted thereunder. 

Section 4. Registrations on Form S-3. 

(a) Short-Form Demand; Demand Notices. 

(i) Notwithstanding anything contained in this Agreement to the contrary, at such time as the Company shall have qualified for the use of Form
S-3 promulgated under the Securities Act or any successor form thereto, the Demand Holders shall have the right to request in writing an unlimited number of registrations under the Securities Act of all or any portion of the Eligible Shares
beneficially owned by any such Demand Holder on Form S-3 (or any successor form) or any similar short form registration statement, if available (a “Short-Form Registration”) and any such Demand Holder may request that such Short
Form Registration constitute a shelf offering on a delayed or continuous basis in accordance with Rule 415 under the Securities Act (a “Shelf Registration”), in which case the provisions of Section 4(d) shall be
applicable, provided: 
 (A) such Demand Holder shall only be entitled to demand such Short-Form Registration if the aggregate
offering price of the Shares to be sold in such offering (before deduction of underwriting discounts and commissions) is reasonably expected to exceed, in the aggregate, $50 million; and 

(B) the Company shall not be required to effect more than two Short-Form Registrations in any 12-month period. 

  
 10 

 (ii) All written requests for Short-Form Registrations (each such request, a “Short-Form
Registration Notice”) shall (i) specify the number of Eligible Shares intended to be sold or disposed of, (ii) state the intended method of disposition of such Eligible Shares and (iii) whether or not such Short-Form
Registration shall be a Shelf Registration, and upon receipt of such request, the Company shall use its best efforts promptly to effect the registration under the Securities Act of the Eligible Shares so requested to be registered. 

(iii) No Demand Holder’s request for a Short-Form Registration pursuant to Section 4(a) shall count against the Demand Rights
allocated to such Demand Holder in Section 2(a) hereof. 
 (b) Company’s Right to Defer Registration. If the Company
receives a Short-Form Registration Notice and the Company furnishes to the Requesting Holder or Shelf Holder, as applicable, a copy of a resolution of the Board certified by the secretary of the Company stating that in the good faith judgment of the
Board it would be materially adverse to the Company for such Short-Form Registration Statement to be filed on or before the date such filing would otherwise be required hereunder, the Company shall have the right to defer such filing of the
Short-Form Registration Statement for a period of not more than 90 days after receipt of the Short-Form Registration Notice. If the Company shall so postpone the filing of a Short-Form Registration Statement and if the Requesting Holder or Shelf
Holder, as applicable, within 30 days after receipt of the notice of postponement advises the Company in writing that it has determined to withdraw such Demand Notice, then such Demand Registration shall be deemed to be withdrawn; provided,
that, the Company shall not utilize this right, together with any other deferral or suspension of the Company’s obligations under Section 2 more than twice in any 12-month period. 

(c) Underwriter’s Cutback. If the Demand Holder requesting the Short Form Registration or Shelf Registration intends to distribute
the Eligible Shares covered by its request under this Section 4 by means of an Underwritten Offering, it shall so advise the Company as a part of its request made pursuant to this Section 4 and the Company shall include such
information in the Short-Form Registration Notice. If the managing underwriter advises the Company that the inclusion of all such Eligible Shares proposed to be included in such registration (or Underwritten Shelf Take-Down, as applicable) would
interfere with the successful marketing (including pricing) of the Eligible Shares to be offered thereby, then the number of Eligible Shares proposed to be included in such Underwritten Offering (or Underwritten Shelf Take-Down, as applicable) shall
be allocated among the Company and all Selling Investors of the Company proportionately, such that the number of Eligible Shares that each Selling Investor shall be entitled to sell in the offering (or Underwritten Shelf Take-Down, as applicable)
shall be included in the following order: 
 (i) first, the Eligible Shares held by the Holders requesting their Eligible Shares be included
in such registration pursuant to the terms of this Agreement and Shares held by any other Person who has rights to participate in such offering pursuant to a registration rights agreement or arrangement with the Company, pro rata based upon
the number of Shares owned by each such Person at the time of such registration; and 
 (ii) second, the Shares to be sold by the Company.

  
 11 

 Notwithstanding anything to the contrary set forth in this Section 2, if the managing underwriter
advises the Company that the inclusion of the number of Eligible Shares proposed to be included in any such registration (or Underwritten Shelf Take-Down, as applicable) by any Holder serving as a director, officer or key employee of the Company
would interfere with the successful marketing (including pricing) of the Eligible Shares to be offered thereby, then the number of Shares proposed to be included in such registration (or Underwritten Shelf Take-Down, as applicable) by such Holder
shall be reduced to the lower of the number of such Shares that the managing underwriter advises that such Holder may sell in the offering and the number of such Shares calculated pursuant to the foregoing. 

(d) Shelf Registration. 

(i) Any Holder included in an effective Shelf Registration (a “Shelf Holder”) may initiate an offering or sale of all or part
of such Eligible Shares (a “Shelf Take-Down”), in which case the provisions of this Section 4(d) shall apply, provided only a Demand Holder may initiate an Underwritten Offering pursuant to
Section 4(d)(ii) below. 
 (ii) If a Demand Holder so elects in a written request delivered to the Company (an
“Underwritten Shelf Take-Down Notice”), a Shelf Take-Down may be in the form of an Underwritten Offering (an “Underwritten Shelf Take-Down”) and, if necessary, the Company shall file and effect an amendment or
supplement to its Shelf Registration for such purpose as soon as practicable. Such initiating Demand Holder shall indicate in such Underwritten Shelf Take-Down Notice whether it intends for such Underwritten Shelf Take-Down to involve a customary
“road show” (including an “electronic road show”) or other marketing effort by the underwriters (a “Marketed Underwritten Shelf Take-Down”). Upon receipt of an Underwritten Shelf Take-Down Notice indicating that
such Underwritten Shelf Take-Down will be a Marketed Underwritten Shelf Take-Down, the Company shall promptly (but in any event no later than five days prior to the expected date of such Marketed Underwritten Shelf Take-Down) give written notice of
such Marketed Underwritten Shelf Take-Down to all other Holders and shall permit the participation of all such Holders that request inclusion in such Marketed Underwritten Shelf Take-Down who respond in writing within five days after the receipt of
such notice of their election to participate. The provisions of Section 4(c) shall apply with respect to the rights of the Holders to participate in any Underwritten Shelf Take-Down (it being understood that the Company shall not be
obligated to commence such Marketed Underwritten Shelf Take-Down until promptly following the expiration of such five-day period). 
 (iii)
If a Shelf Holder desires to effect a Shelf Take-Down that does not constitute a Marketed Underwritten Shelf Take-Down and that does not involve an Underwritten Offering (a “Non-Marketed Shelf Take-Down”), such Shelf Holder shall so
indicate in a written request delivered to the Company no later than one Business Days prior to the expected date of such Non-Marketed Shelf Take-Down, which request shall include (i) the total number of

  
 12 

 
Eligible Shares expected to be offered and sold in such Non-Marketed Shelf Take-Down, (ii) the expected plan of distribution of such Non-Marketed Shelf Take-Down and (iii) the action or
actions required (including the timing thereof) in connection with such Non-Marketed Shelf Take-Down, and, if necessary, the Company shall file and effect an amendment or supplement to its Short Form Shelf Registration for such purpose as soon as
practicable. 
 (iv) All determinations as to whether to complete any Non-Marketed Shelf Take-Down and as to the timing, manner, price and
other terms of any Non-Marketed Shelf Take-Down shall be at the discretion of the applicable Shelf Holder. 
 (v) Upon the Company becoming
a Well-Known Seasoned Issuer, (x) the Company shall give written notice to all of the Holders as promptly as practicable but in no event later than ten days thereafter, and such notice shall describe, in reasonable detail, the basis on which
the Company has become a Well-Known Seasoned Issuer, and (y) the Company shall, as promptly as practicable, register, under an Automatic Shelf Registration Statement, the sale of all of the Eligible Shares in accordance with the terms of this
Agreement. The Company shall use its commercially reasonable efforts to file such Automatic Shelf Registration Statement as promptly as practicable, but in no event later than 20 days after it becomes a Well-Known Seasoned Issuer, and to cause such
Automatic Shelf Registration Statement to remain effective thereafter until there are no longer any Eligible Shares. The Company agrees that if any Holder beneficially owns any Eligible Shares three years after the filing of an initial Automatic
Shelf Registration Statement in compliance with this Section, the Company shall file and cause to remain effective a new Automatic Shelf Registration Statement that registers the sale of any Eligible Shares that remain outstanding at such time. The
Company shall give written notice of filing such Registration Statement to all of the Holders as promptly as practicable thereafter. At any time after the filing of an Automatic Shelf Registration Statement by the Company, if the Company is no
longer a Well-Known Seasoned Issuer (the “Determination Date”), within ten days after such Determination Date, the Company shall (A) give written notice thereof to all of the Holders and (B) to the extent the Company
continues to qualify for the use of Form S-3 promulgated under the Securities Act or any successor form thereto, the Company shall file a Short-Form Registration Statement (or a post effective amendment converting the Automatic Shelf Registration
Statement to a Short-Form Registration Statement) covering all of the Eligible Shares, and the Company shall use commercially reasonable efforts to have such Short-Form Registration Statement declared effective as promptly as practicable after the
date the Automatic Shelf Registration Statement is no longer useable by the Holders to sell their Eligible Shares. 
 (vi) If the Company
receives a written request for an Underwritten Shelf Take-Down or a Non-Marketed Shelf Take-Down and the Company furnishes to the Requesting Holder or Shelf Holder, as applicable, a copy of a resolution of the Board certified by the secretary of the
Company stating that in the good faith judgment of the Board it would be materially adverse to the Company to effect such Underwritten Shelf Take-Down or a Non-Marketed Shelf Take-Down on or before the date such take-down would otherwise be required
hereunder, the Company shall have the right to defer effecting such Underwritten Shelf Take-Down or a Non-Marketed Shelf Take-Down for a period of not more than 90 days after receipt of the written request; provided, that, the Company shall
not utilize this right, together with any other deferral or suspension of the Company’s obligations under Section 2 more than twice in 

  
 13 

 
any 12-month period (except that the Company shall be able to use this right more than twice in any 12-month period if the Company is exercising such right during the 15-day period prior to the
Company’s regularly scheduled quarterly earnings announcement date and the total number of days postponement in such 12-month period does not exceed 180 days). 

Section 5. Holdback Agreement. 
 (a)
If requested by the managing underwriters in connection with any Underwritten Offering, no Holder who beneficially owns 1% or more of the outstanding Common Stock (including, without limitation, as a result of ownership of Warrants) shall effect any
Transfer (including sales pursuant to Rule 144) of any such Shares or Warrants without prior written consent from the underwriters managing the Underwritten Offering by the Company during a period beginning up to seven days prior to and ending up to
90 days from and including the date of pricing as reasonably requested by the underwriters managing the Underwritten Offering (or 180 days in the case of the Initial Public Offering) (the “Lock-Up Period”); provided, that
(A) the foregoing shall not apply to any Shares that are offered for sale as part of the underwritten public equity offering, (B) such Lock-Up Period shall be no longer than and on substantially the same terms as the lock-up period
applicable to the Company and the executive officers and directors of the Company and (C) such Lock-Up Period shall not commence unless the Company notifies the Holders in writing prior to the commencement of the Lock-Up Period;
provided, further, that nothing herein shall prevent any Holder that is a partnership, limited liability company or corporation from making a distribution of Shares or Warrants to the partners, members or stockholders thereof, a
Transfer of Shares or Warrants to an Affiliate that is otherwise in compliance with the applicable securities laws or a Transfer that is a bona fide gift. Each Holder agrees to execute a lock-up agreement in favor of the Company’s underwriters
to such effect and, in any event, that the Company’s underwriters in any Underwritten Offering shall be third-party beneficiaries of this Section 5(a). The provisions of this Section 5(a) will no longer apply to a Holder if
(x) such Holder ceases to hold any Shares or (y) such Holder beneficially owns less than 1% of the outstanding shares of Common Stock. 

(b) In connection with any Underwritten Offering (including pursuant to any Demand Registration, Short-Form Registration or Piggyback
Registration), if requested by the managing underwriters in connection with such Underwritten Offering, the Company shall not effect any sale or distribution of any Shares (except pursuant to registrations on Form S-8 or Form S-4 (or any successor
to such forms) under the Securities Act), during a period beginning up to seven days prior to and ending up to 90 days from and including the date of pricing of such Underwritten Offering as reasonably requested by the underwriters managing the
Underwritten Offering (or 180 days in the case of the Initial Public Offering); provided, that the foregoing shall not apply to any securities that are offered for sale as part of the Underwritten Offering; provided, further,
that nothing herein will prevent the Company from (A) issuing securities upon the exercise of an option or warrant or the conversion or exchange of a security outstanding on such date, or (B) granting securities pursuant to employee
benefit plans in effect on such date. 

  
 14 

 Section 6. Preparation and Filing. 

If and whenever the Company is under an obligation pursuant to the provisions of this Agreement to use its best efforts to effect the
registration of any Eligible Shares, the Company shall, as expeditiously as practicable: 
 (a) in the case of Eligible Shares, use its
commercially reasonable efforts to cause a Registration Statement that registers such Eligible Shares to become and remain effective for a period of 180 days or until all of such Shares have been disposed of (if earlier); provided, that in
the case of any registration of Eligible Shares on a Shelf Registration which are intended to be offered on a continuous or delayed basis, such 180-day period shall be extended, if necessary, to keep the registration statement continuously
effective, supplemented and amended to the extent necessary to ensure that it is available for sales of such Eligible Shares, and to ensure that it conforms with the requirements of this Agreement, the Securities Act and the policies, rules and
regulations of the SEC as announced from time to time, until the earlier of when (i) the Holders have sold all of such Eligible Shares, (ii) the Holders may sell all of such Eligible Shares without limitation pursuant to Rule 144 under the
Securities Act and (iii) in the case of an Automatic Shelf Registration Statement, such Automatic Shelf Registration Statement has been effective for three years; 

(b) furnish, at least ten business days before filing a Registration Statement, copies of such Registration Statement or any amendments or
supplements thereto, to one counsel selected by the Holders who beneficially own a majority of such Eligible Shares (the “Selling Investors’ Counsel”), copies of all such documents proposed to be filed (it being understood that
such five-business-day period need not apply to successive drafts of the same document proposed to be filed so long as such successive drafts are supplied to the Selling Investors’ Counsel in advance of the proposed filing by a period of time
that is customary and reasonable under the circumstances); 
 (c) in the case of Eligible Shares, prepare and file with the Commission such
amendments and supplements to such Registration Statement as may be necessary to keep such Registration Statement effective for at least the period specified in Section 6(a) and to comply with the provisions of the Securities Act with
respect to the sale or other disposition of such Eligible Shares; 
 (d) notify in writing the Selling Investors’ Counsel promptly
(i) of the receipt by the Company of any notification with respect to any comments by the Commission with respect to such Registration Statement or any amendment or supplement thereto or any request by the Commission for the amending or
supplementing thereof or for additional information with respect thereto, (ii) of the receipt by the Company of any notification with respect to the issuance by the Commission of any stop order suspending the effectiveness of such Registration
Statement or any amendment or supplement thereto or the initiation or threatening of any proceeding for that purpose and (iii) of the receipt by the Company of any notification with respect to the suspension of the qualification of such
Eligible Shares for sale in any jurisdiction or the initiation or threatening of any proceeding for such purposes and, in any such case as promptly as reasonably practicable thereafter, prepare and file an amendment or supplement to such
registration statement or prospectus which will correct such statement or omission or effect such compliance; 

  
 15 

 (e) use its commercially reasonable efforts to register or qualify such Eligible Shares under
such other securities or blue sky laws of such jurisdictions as the Holders reasonably requests and do any and all other acts and things which may be reasonably necessary or advisable to enable such Holders to consummate their disposition in such
jurisdictions; provided, however, that the Company will not be required to qualify generally to do business, subject itself to general taxation or consent to general service of process in any jurisdiction where it would not otherwise
be required to do so but for this paragraph (e); 
 (f) furnish to each holder of Eligible Shares such number of copies of a summary
prospectus or other prospectus, including a preliminary prospectus, in conformity with the requirements of the Securities Act, and such other documents as such holders may reasonably request in order to facilitate the public sale or other
disposition of such Eligible Shares; 
 (g) without limiting subsection (e) above, use its commercially reasonable efforts to cause
such Eligible Shares to be registered with or approved by such other governmental agencies or authorities as may be necessary by virtue of the business and operations of the Company to enable the Selling Investors to consummate the disposition of
such Eligible Shares; 
 (h) notify on a timely basis each Holder of such Eligible Shares at any time when a prospectus relating to such
Eligible Shares is required to be delivered under the Securities Act, of the happening of any event as a result of which the prospectus included in such Registration Statement, as then in effect, includes an untrue statement of a material fact or
omits to state a material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances then existing and, at the request of such Holder, as soon as practicable prepare and furnish to
such Holder a reasonable number of copies of a supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the offeree of such shares, such prospectus shall not include an untrue statement of a material
fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances then existing; 

(i) make available for inspection by the Selling Investors, the Selling Investors’ Counsel or any underwriter participating in any
disposition pursuant to such Registration Statement and any attorney, accountant or other agent retained by any such Selling Investor or underwriter (collectively, the “Inspectors”), all pertinent financial and Other records,
pertinent corporate documents and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable them to exercise their due diligence responsibility, and cause the Company’s officers,
directors and employees to supply all information (together with the Records, the “Information”) reasonably requested by any such Inspector in connection with such Registration Statement. Any of the Information which the Company
determines in good faith to be confidential, and of which determination the Inspectors are so notified, shall not be disclosed by the Inspectors unless (i) the disclosure of such Information is necessary to avoid or correct a misstatement or
omission in the Registration Statement, (ii) the release of such Information is ordered pursuant to a subpoena or other order from a court of competent jurisdiction or (iii) such Information has been made generally available to the public.
The Holder of Eligible Shares agree that they will, upon learning that disclosure of such Information is sought in a court of competent jurisdiction, give notice to the Company and allow the Company, at the Company’s expense, to undertake
appropriate action to prevent disclosure of the Information deemed confidential; 

  
 16 

 (j) in the case of an Underwritten Offering, use its commercially reasonable efforts to obtain
from its independent certified public accountants “comfort” letters in customary form and at customary times and covering matters of the type customarily covered by comfort letters; 

(k) in the case of an Underwritten Offering, use its commercially reasonable efforts to obtain from its counsel an opinion or opinions in
customary form; 
 (l) provide a transfer agent and registrar (which may be the same entity and which may be the Company) for such Eligible
Shares; 
 (m) issue to any underwriter to which any Selling Investors may sell shares in such offering certificates evidencing such
Eligible Shares; 
 (n) upon the request of the holders of a majority of the Eligible Shares included in such registration, list such
Eligible Shares on any national securities exchange on which any shares of the Common Stock are listed or, if the Common Stock is not listed on a national securities exchange, use its commercially reasonable efforts to qualify such Eligible Shares
for inclusion on such national securities exchange as the Company shall designate; 
 (o) otherwise use its commercially reasonable efforts
to comply with all applicable rules and regulations of the Commission and make available to its security holders, as soon as reasonably practicable, earnings statements (which need not be audited) covering a period of 12 months beginning within
three months after the effective date of the Registration Statement, which earnings statements shall satisfy the provisions of Section 11(a) of the Securities Act; 

(p) notify the Holders and the lead underwriter or underwriters, if any, and (if requested) confirm such advice in writing, as promptly as
reasonably practicable after notice thereof is received by the Company when the applicable registration statement or any amendment thereto has been filed or becomes effective and when the applicable prospectus or any amendment or supplement thereto
has been filed; 
 (q) use its commercially reasonable efforts to prevent the entry of, and use commercially reasonable efforts to obtain as
promptly as reasonably practicable the withdrawal of, any stop order with respect to the applicable registration statement or other order suspending the use of any preliminary or final prospectus; 

(r) promptly incorporate in a prospectus supplement or post-effective amendment to the applicable registration statement such information as
the lead underwriter or underwriters, if any, and the Holders holding a majority of each class of Eligible Shares being sold agree (with respect to the relevant class) should be included therein relating to the plan of distribution with respect to
such class of Eligible Shares; and make all required filings of such prospectus supplement or post-effective amendment as promptly as reasonably practicable after being notified of the matters to be incorporated in such prospectus supplement or
post-effective amendment; 

  
 17 

 (s) cooperate with each Holder and each underwriter or agent, if any, participating in the
disposition of such Eligible Shares and their respective counsel in connection with any filings required to be made with FINRA; 
 (t)
provide a CUSIP number for all such shares, in each case not later than the effective date of the applicable registration statement; 
 (u)
to the extent reasonably requested by the lead or managing underwriters in connection with an Underwritten Offering (including a Underwritten Offering pursuant to Section 4), send appropriate officers of the Company to attend any
“road shows” scheduled in connection with any such Underwritten Offering, with all out of pocket costs and expenses incurred by the Company or such officers in connection with such attendance to be paid by the Company; and 

(v) subject to all the other provisions of this Agreement, use its commercially reasonable efforts to take all other steps necessary to effect
the registration of such Eligible Shares contemplated hereby. 
 Section 7. Registration Expenses. 

All expenses incident to the Company’s performance of or compliance with this Agreement, including without limitation (i) all
registration and filing fees, and any other fees and expenses associated with filings required to be made with any stock exchange, the Commission and FINRA (including, if applicable, the fees and expenses of any “qualified independent
underwriter” and its counsel as may be required by the rules and regulations of FINRA), (ii) all fees and expenses of compliance with state securities or blue sky laws (including fees and disbursements of counsel for the underwriters or
Selling Investors in connection with blue sky qualifications of the Shares and determination of their eligibility for investment under the laws of such jurisdictions as the managing underwriters or Parent (for so long as it owns no less than 40% of
the Eligible Shares owned by it as of the date hereof and subject to the reasonable approval of the holders of a majority of the Eligible Shares included in such registration) may designate), (iii) all printing and related messenger and
delivery expenses (including expenses of printing certificates for the Shares in a form eligible for deposit with The Depository Trust Company and of printing prospectuses, all fees and disbursements of counsel for the Company and of all independent
certified public accountants of the issuer (including the expenses of any special audit and “cold comfort” letters required by or incident to such performance)), (iv) Securities Act liability insurance if the Company so desires or the
underwriters so require, (v) all fees and expenses incurred in connection with the listing of the Shares on any securities exchange and all rating agency fees, (vi) all reasonable fees and disbursements of one counsel selected by the
Holders of a majority of the Eligible Shares included in such registration, subject to Parent’s reasonable approval if any of Parent’s Eligible Shares are included in such registration (it being understood that it would be unreasonable for
Parent to withhold approval for Paul, Weiss, Rifkind, Wharton & Garrison LLP, Willkie Farr & Gallagher LLP or Akin Gump Strauss Hauer & Feld LLP to serve as such counsel), (vii) all fees and disbursements of
underwriters customarily paid by the issuer or sellers of securities, excluding underwriting discounts and commissions and transfer taxes, if any, and fees and disbursements of counsel to underwriters (other than such fees and disbursements incurred
in connection with any 

  
 18 

 
registration or qualification of Shares under the securities or blue sky laws of any state), and (viii) fees and expenses of other Persons retained by the Company (all such expenses being
herein referred to as “Registration Expenses”), will be borne by the Company, regardless of whether the Registration Statement becomes effective. In addition, the Company will, in any event, pay its internal expenses (including,
without limitation, all salaries and expenses of its officers and employees performing legal or accounting duties), the expense of any audit and the fees and expenses of any Person, including special experts, retained by the Company. 

Section 8. Indemnification. 
 (a)
Indemnification by the Company. The Company agrees to indemnify and hold harmless, to the full extent permitted by law, each Selling Investor, its officers, directors and employees and each Person who controls (within the meaning of the
Securities Act) such Selling Investor against any losses, claims, damages, liabilities and expenses caused by any untrue or alleged untrue statement of a material fact contained in any Registration Statement or any omission or alleged omission to
state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, except insofar as the same may be contained in any information furnished in writing to the Company by such Selling Investor
expressly for use therein; provided, however, that the Company shall not be liable in any such case to the extent that any such loss, claim, damage, liability or expense arises out of or is based upon an untrue statement or alleged
untrue statement or omission or alleged omission in the Prospectus, if such untrue statement or alleged untrue statement, omission or alleged omission is completely corrected in an amendment or supplement to the Prospectus and the Selling Investor
thereafter fails to deliver such Prospectus as so amended or supplemented prior to or concurrently with the time of sale of the Eligible Shares to the Person asserting such loss, claim, damage, liability or expense after the Company had furnished
such Selling Investor with a sufficient number of copies of the same. The Company will also indemnify underwriters, selling brokers, dealer managers and similar securities industry professionals participating in the distribution, their officers and
directors and each Person who controls such Persons (within the meaning of the Securities Act) to the same extent as provided above with respect to the indemnification of the Selling Investor, if requested. 

(b) Indemnification by Selling Investors. Each Selling Investor agrees to indemnify and hold harmless, to the full extent permitted by
law, the Company, its directors and officers and each Person who controls the Company (within the meaning of the Securities Act) against any losses, claims, damages or liabilities and expenses caused by any untrue or alleged untrue statement of a
material fact contained in any Registration Statement or any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, to the extent, but only to the
extent, that such untrue statement or omission is contained in any information furnished by such Selling Investor to the Company expressly for inclusion in such Registration Statement and has not been corrected in a subsequent writing prior to or
concurrently with the sale of the Eligible Shares to the Person asserting such loss, claim, damage, liability or expense. In no event shall the liability of any Selling Investor hereunder be greater in amount than the dollar amount of the proceeds
received by such Selling Investor upon the sale of the Eligible Shares giving rise to such indemnification obligation. The Company shall be entitled to receive indemnities from underwriters, selling brokers, dealer managers and similar securities
industry professionals participating in the distribution, to the same extent as provided above with respect to information so furnished in writing by such Persons specifically for inclusion in any Registration Statement. 

  
 19 

 (c) Conduct of Indemnification Proceedings. Any Person entitled to indemnification
hereunder will (i) give prompt (but in any event within 30 days after such Person has actual knowledge of the facts constituting the basis for indemnification) written notice to the indemnifying party of any claim with respect to which it seeks
indemnification and (ii) permit such indemnifying party to assume the defense of such claim with counsel reasonably satisfactory to the indemnified party; provided, however, that any delay or failure to so notify the indemnifying
party shall relieve the indemnifying party of its obligations hereunder only to the extent, if at all, that it is prejudiced by reason of such delay or failure. Any Person entitled to indemnification hereunder shall have the right to select and
employ separate counsel and to participate in the defense of such claim, but the fees and expenses of such counsel shall be at the expense of such Person unless (a) the indemnifying party has agreed in writing to pay such fees or expenses,
(b) the indemnifying party shall have failed to assume the defense of such claim within a reasonable time after receipt of notice of such claim from the Person entitled to indemnification hereunder and employ counsel reasonably satisfactory to
such Person or (c) in the reasonable judgment of any such Person, based upon advice of counsel, a conflict of interest may exist between such Person and the indemnifying party with respect to such claims (in which case, if the Person notifies
the indemnifying party in writing that such Person elects to employ separate counsel at the expense of the indemnifying party, the indemnifying party shall not have the right to assume the defense of such claim on behalf of such Person). If such
defense is not assumed by the indemnifying party, the indemnifying party will not be subject to any liability for any settlement made without its consent (but such consent will not be unreasonably withheld). No indemnifying party shall, without the
prior written consent of the indemnified party, effect any settlement of any pending or threatened action in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such indemnified
party unless such settlement includes (i) an unconditional release of such indemnified party from all liability on any claims that are the subject matter of such action and (ii) does not include a statement as to or an admission of fault,
culpability or failure to act by or on behalf of any indemnified party. 
 (d) Whenever the indemnified party or the indemnifying party
receives a firm offer to settle a claim for which indemnification is sought hereunder, it shall promptly notify the other of such offer. If the indemnifying party refuses to accept such offer within 20 business days after receipt of such offer (or
of notice thereof), such claim shall continue to be contested and, if such claim is within the scope of the indemnifying party’s indemnity contained herein, the indemnified party shall be indemnified pursuant to the terms hereof. An
indemnifying party who is not entitled to, or elects not to, assume the defense of a claim will not be obligated to pay the fees and expenses of more than one counsel for all parties indemnified by such indemnifying party with respect to such claim
in any one jurisdiction, unless in the written opinion of counsel to the indemnified party, reasonably satisfactory to the indemnifying party, use of one counsel would be expected to give rise to a conflict of interest between such indemnified party
and any other of such indemnified parties with respect to such claim, in which even the indemnifying party shall be obligated to pay the fees and expenses of one each additional counsel. 

  
 20 

 (e) Other Indemnification. Indemnification similar to that specified in this
Section 8 (with appropriate modifications) shall be given by the Company and each Selling Investor with respect to any required registration or other qualification of Eligible Shares under Federal or state law or regulation of
governmental authority other than the Securities Act. 
 (f) Contribution. If for any reason the indemnification provided for in the
preceding clauses (a) and (b) is unavailable to an indemnified party or insufficient to hold it harmless as contemplated by the preceding clauses (a) and (b), then the indemnifying party shall contribute to the amount paid or payable
by the indemnified party as a result of such loss, claim, damage or liability in such proportion as is appropriate to reflect not only the relative benefits received by the indemnified party and the indemnifying party, but also the relative fault of
the indemnified party and the indemnifying party, as well as any other relevant equitable considerations, provided that no Selling Investor shall be required to contribute in an amount greater than the dollar amount of the proceeds received
by such Selling Investor with respect to the sale of any Shares. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty
of such fraudulent misrepresentation. 
 Section 9. Participation in Underwritten Offering. 

No Holder may participate in an Underwritten Offering hereunder unless such Holder (a) agrees to sell such Holder’s Shares on the
basis provided in any underwriting arrangements, and in accordance with the terms and provisions of this Agreement, including any lock-up arrangements, and (b) completes and executes all questionnaires, indemnities, underwriting agreements and
other documents required under the terms of such underwriting arrangements. Nothing in this Section shall be construed to create any additional rights regarding the registration of Shares in any Person otherwise than as set forth herein. 

Section 10. Exchange Act Compliance. 

In the event that the Company (a) registers a class of securities under Section 12 of the Exchange Act and (b) commences to
file reports under Section 13 of the Exchange Act, then the Company shall (i) make and keep public information available, as those terms are understood and defined in Rule 144 of the Commission, (ii) file with the Commission in a
timely manner all reports and other documents required of the Company under the Exchange Act and (iii) at the request of any Holder if such Holder proposes to sell securities in compliance with Rule 144, forthwith furnish to such Holder, as
applicable, a written statement of compliance with the reporting requirements of the Commission as set forth in Rule 144 and make available to such Holder such information as will enable the Holder to make sales pursuant to Rule 144. 

Section 11. Effectiveness. 
 The
rights and obligations of each Holder under this Agreement shall terminate as to such Holder upon the Transfer of all Eligible Shares owned by such Holder. 

  
 21 

 Section 12. Severability. 

If any provision of this Agreement shall be determined to be illegal and unenforceable by any court of law, the remaining provisions shall be
severable and enforceable in accordance with their terms. 
 Section 13. Governing Law. 

This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of Delaware without giving effect to
any of the conflict of law rules thereof. 
 Section 14. Transfers. 

(a) Subject to Section 14(b), the rights of a Holder hereunder may be assigned only on a pro rata basis in connection with
any Transfer of Eligible Shares to any Transferee (subject to the terms and conditions of Section 14(b) below); provided, that (i) such Transferee agrees in writing to become subject to the terms of this Agreement by
executing an Adoption Agreement, in the form attached hereto as Exhibit A; and (ii) the Holder gives the Company written notice of such Transfer of Eligible Shares, stating the name and address of such Transferee, identifying the number
of Shares to be Transferred and specifying whether any Demand Registrations Rights have been Transferred, pursuant to Section 14(b) below. 

(b) Subject to Section 14(a), each Demand Holder (other than the Warrantshare Holders) who, together with its Affiliates,
Transfers 10% or more of the issued and outstanding shares of Common Stock to a Transferee may also transfer on a pro rata basis its Demand Rights to the Transferee; provided that at no time during the term of this Agreement shall the
total number of Demand Rights held by any Demand Holder and its Transferees exceed, in the aggregate, the total number of Demand Rights such Demand Holder would have been entitled to had no such assignment of Demand Rights been made. 

(c) Any assignment in violation of this Section 14 shall be void ab initio. 

Section 15. Successors and Assigns. Subject to Section 14, this Agreement shall inure to the benefit of and be binding upon the successors
and assigns of each of the parties hereto. 

  
 22 

 Section 16. Notices. 

In the event a notice or other document is required to be sent hereunder to the Company or to a Holder, such notice shall be in writing and
shall be deemed duly given (a) on the date of delivery if delivered personally or by electronic mail sent with a request for delivery receipt, upon written electronic confirmation of delivery, or if by facsimile, upon written confirmation of
receipt by facsimile, (b) on the first Business Day following the date of dispatch if delivered utilizing a next-day service by a recognized next-day courier or (c) on the earlier of confirmed receipt or the fifth business day following
the date of mailing if delivered by registered or certified mail, return receipt requested, postage prepaid. All notices hereunder shall be delivered as follows: 

(i) if to the Company, to: 

Affinion Group Holdings, Inc. 

6 High Ridge Park 
 Stamford, CT
06905 
 Facsimile: (203) 956-1021 

Attention: Chief Financial Officer 

Email: tsiegel@affiniongroup.com 

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

Akin Gump Strauss Hauer & Feld LLP 

One Bryant Park 
 New York, New
York 10036 
 Telephone: 212-872-1000 

Facsimile: 212-872-1002 
 Email:
aweinstein@akingump.com 
 Attn: Adam Weinstein 

(ii) if to Parent, to: 

Affinion Group, LLC 
 c/o Apollo
Management V, L.P. 
 9 West 57th Street 

New York, New York 10019 

Facsimile: (212) 515-3264 

Attention: Marc Becker 
 Email:
becker@apollolp.com 
 with a copy (which shall not constitute notice) to: 

Akin Gump Strauss Hauer & Feld LLP 

One Bryant Park 
 New York, New
York 10036 
 Telephone: 212-872-1000 

Facsimile: 212-872-1002 
 Email:
aweinstein@akingump.com 
 Attn: Adam Weinstein 

  
 23 

 (iii) if to Principal WL Stockholders, to: 

General Atlantic LLC 
 c/o
General Atlantic Service Company, LLC 
 3 Pickwick Plaza 

Greenwich, Connecticut 06830 

Facsimile: (203) 618-9207 

Attention: General Counsel 

Email: clanning@generalatlantic.com 

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

Paul, Weiss, Rifkind, Wharton & Garrison LLP 

1285 Avenue of the Americas 

New York, New York 10019 

Telephone: 212-373-3000 

Facsimile: 212-757-3990 
 Email:
mabbott@paulweiss.com 
 Attn: Matthew W. Abbott 

(iv) If to another Holder, to the address set forth under such Holder’s name in Schedule I attached hereto. 

(v) if to any Transferee, to the address specified by such Transferee upon consummation of the Transfer of Eligible Shares by which such
Person became a Transferee; or to such other address as any party hereto shall have designated by notice in writing to the other parties hereto. 

Section 17. Headings. 
 The headings
contained in this Agreement are for the sole purpose of convenience of reference, and shall not in any way limit or affect the meaning or interpretation of any of the terms or provisions of this Agreement. 

Section 18. Additional Parties. 

Each Person who has executed an Adoption Agreement, in the form attached hereto as Exhibit A, or who is a party to the Stockholder
Agreement, the WL Securityholder Rights Agreement or the Warrantholder Rights Agreement (i) is bound by and subject to the terms of this Agreement, and (ii) has adopted this Agreement with the same force and effect as if it were originally
a party hereto, and shall continue to be so bound by and subject to the terms of this Agreement notwithstanding the earlier termination of the Stockholder Agreement, WL Securityholder Rights Agreement or Warrantholder Rights Agreement. 

Section 19. Adjustments. 
 If, and
as often as, there are any changes in the Common Stock or securities convertible into or exchangeable into or exercisable for shares of Common Stock as a result of any 

  
 24 

 
reclassification, recapitalization, stock split (including a reverse stock split) or subdivision or combination, exchange or readjustment of shares, or any stock dividend or stock distribution,
merger or other similar transaction affecting shares of Common Stock or such securities, appropriate adjustment shall be made in the provisions of this Agreement, as may be required, so that the rights, privileges, duties and obligations hereunder
shall continue with respect to the Common Stock or such securities as so changed. 
 Section 20. Entire Agreement. 

This Agreement and the other writings referred to herein constitute the entire agreement among the parties hereto with respect to the subject
matter hereof and supersedes all prior agreements and understandings with respect hereto, oral and written with respect to the subject matter, including the WL Stockholder Agreement and the Warrantholder Rights Agreement. 

Section 21. Counterparts. 
 This
Agreement may be executed in two or more counterparts, each of which shall be deemed an original instrument, but all of which together shall constitute one and the same document. 

Section 22. Amendment. 
 This
Agreement may be amended, supplemented or modified only by a written instrument executed by (x) Parent (and, subject to Section 14, its Transferees), (y) Holders of a majority of the Eligible Shares held by the Principal WL
Stockholders (and, subject to Section 14, their respective Transferees) and (z) Holders of a majority of the Eligible Shares; provided, however, (i) any such amendment, supplement or modification that by its terms
affects the rights or obligations of any Holder in a manner that is materially adverse and substantially disproportionate relative to other Holders shall not be enforceable against such Holder without the written consent of such Holder, and
(ii) the written consent of the Company shall be required, in the event that any such amendment, supplement or modification imposes a burden or obligation on the Company or adversely affects a benefit or right of the Company under this
Agreement. 
 Section 23. Further Assurances. 

Each of the parties hereto shall execute all such further instruments and documents and take all such further action as any other party hereto
may reasonably require in order to effectuate the terms and purposes of this Agreement. 
 Section 24. No Third-Party Beneficiaries. 

This Agreement shall not confer any rights or remedies upon any Person other than the parties hereto and their respective successors and
permitted assigns and other Persons expressly named herein. 

  
 25 

 Section 25. Interpretation. 

In construing this Agreement, no consideration shall be given to the fact or presumption that any party to this Agreement had a greater or
lesser hand in drafting this Agreement. 
 * * * * 

  
 26 

 IN WITNESS WHEREOF, the parties hereto have executed this Second Amended &
Restated Registration Rights Agreement on the date first above written. 
  

					
	THE COMPANY:
	
	AFFINION GROUP HOLDINGS, INC.
		
	By:	 	 /s/ Todd H. Siegel

		 	Name:	 	Todd H. Siegel
		 	Title:	 	Chief Executive Officer

  
 Signature Page to
Second Amended & Restated Registration Rights Agreement 

					
	AFFINION GROUP HOLDINGS, LLC
		
	By:	 	 /s/ Marc E. Becker

		 	Name:	 	Marc E. Becker
		 	Title:	 	President

  
 Signature Page to
Second Amended & Restated Registration Rights Agreement 

					
	GAPCO GMBH & CO. KG
	By:	 	GAPCO Management GmbH,
		 	its General Partner
		
	By:	 	 /s/ Thomas J. Murphy

		 	Name:	 	Thomas J. Murphy
		 	Title:	 	Managing Director
	
	GAP COINVESTMENTS III, LLC
	By:	 	General Atlantic LLC, its Managing Member
		
	By:	 	 /s/ Thomas J. Murphy

		 	Name:	 	Thomas J. Murphy
		 	Title:	 	Managing Director
	
	GAP COINVESTMENTS IV, LLC
	By:	 	General Atlantic LLC, its Managing Member
		
	By:	 	 /s/ Thomas J. Murphy

		 	Name:	 	Thomas J. Murphy
		 	Title:	 	Managing Director
	
	GAPSTAR, LLC
		
	By:	 	 /s/ Thomas J. Murphy

		 	Name:	 	Thomas J. Murphy
		 	Title:	 	Managing Director

  
 Signature Page to
Second Amended & Restated Registration Rights Agreement 

					
	GAP-W HOLDINGS, L.P.
	By:	 	General Atlantic GenPar, L.P.,
		 	its General Partner
		
	By:	 	General Atlantic LLC,
		 	its General Partner
		
	By:	 	 /s/ Thomas J. Murphy

	Name:	 	Thomas J. Murphy
	Title:	 	Managing Director
	
	GENERAL ATLANTIC PARTNERS 79, L.P.
	By:	 	General Atlantic LLC,
		 	its General Partner
		
	By:	 	 /s/ Thomas J. Murphy

	Name:	 		 	Thomas J. Murphy
	Title:	 		 	Managing Director

  
 Signature Page to
Second Amended & Restated Registration Rights Agreement 

					
	D’AGOSTINO FAMILY TRUST A DATED 4/8/99
		
	By:	 	 /s/ Gina D. Silvestri

		 	Name:	 	Gina D. Silvestri
		 	Title:	 	Trustee
	
	VINCENT D’AGOSTINO
		
	By:	 	 /s/ Vincent D’Agostino

		 	Name:	 	Vincent D’Agostino

  
 Signature Page to
Second Amended & Restated Registration Rights Agreement 

					
	FERNANDES FAMILY TRUST A DATED JUNE 25, 1999
		
	By:	 	 /s/ Lori Fernandes

		 	Name:	 	Lori Fernandes
		 	Title:	 	Trustee
	
	RICHARD FERNANDES
		
	By:	 	 /s/ Richard Fernandes

		 	Name:	 	Richard Fernandes

  
 Signature Page to
Second Amended & Restated Registration Rights Agreement 

 SCHEDULE I 

List of Holders 
  

					
	 Name
	  	 Address for Notice

	Affinion Group Holdings, LLC	  	 Apollo Management V, L.P.
 9 West 57th Street, 43rd Floor
 New York, New York
10019

	  	Telephone:	  	(212) 515-3202
	  	Email:	  	becker@apollolp.com
	  	Attention:	  	Marc Becker
		
	 D’Agostino Family Trust A Date 4/8/99 /

Vincent D’Agostino
	  	 45 Turkey Hill Road South
 Westport,
CT 06880

	  	Telephone:	  	(203) 254-9860
	  	Email:	  	dagostinov@yahoo.com
		
	Richard Fernandes / Fernandes Family Trust A dated June 25, 1999	  	 129 Quarter Horse Lane
 Fairfield CT
06824

	  	Telephone:	  	(203) 255-1736
	  	Email:	  	rick.fernandes@webloyalty.com
		
	GAPCO GmbH & Co. KG	  	 General Atlantic LLC
 55 East 52nd
Street, 32nd Floor
 New York, New York 10055
 Facsimile: (212)
759-5708
 Attention: General Counsel
 Email:
clanning@generalatlantic.com

		
	GAP Coinvestments III, LLC	  	 General Atlantic LLC
 55 East 52nd
Street, 32nd Floor
 New York, New York 10055
 Facsimile: (212)
759-5708
 Attention: General Counsel
 Email:
clanning@generalatlantic.com

		
	GAP Coinvestments IV, LLC	  	 General Atlantic LLC
 55 East 52nd
Street, 32nd Floor
 New York, New York 10055
 Facsimile: (212)
759-5708
 Attention: General Counsel
 Email:
clanning@generalatlantic.com

		
	GAPSTAR, LLC	  	 General Atlantic LLC
 55 East 52nd
Street, 32nd Floor
 New York, New York 10055
 Facsimile: (212)
759-5708
 Attention: General Counsel
 Email:
clanning@generalatlantic.com

  
 Schedule I 

			
	GAP-W Holdings, L.P.	  	 General Atlantic LLC
 55 East 52nd Street, 32nd
Floor
 New York, New York 10055
 Facsimile: (212) 759-5708

Attention: General Counsel
 Email:
clanning@generalatlantic.com

		
	General Atlantic Partners 79, L.P.	  	 General Atlantic LLC
 55 East 52nd Street, 32nd
Floor
 New York, New York 10055
 Facsimile: (212) 759-5708

Attention: General Counsel
 Email:
clanning@generalatlantic.com

  
 Schedule I-2 

 EXHIBIT A 

ADOPTION AGREEMENT 
 This Adoption
Agreement (“Adoption”) is executed pursuant to the terms of the Second Amended & Restated Registration Rights Agreement, dated as of 12, 2013, a copy of which is attached hereto (the “Registration Rights
Agreement”), by the undersigned (the “Undersigned”) executing this Adoption. By the execution of this Adoption, the Undersigned agrees as follows: 

1. Acknowledgment. The Undersigned acknowledges that the Undersigned is acquiring certain shares of Common Stock of Affinion Group Holdings, Inc., a
corporation organized under the laws of the State of Delaware (the “Company”), subject to the terms and conditions of the Registration Rights Agreement, among the Company and the Holders party thereto. Capitalized terms used herein
without definition are defined in the Registration Rights Agreement and are used herein with the same meanings set forth therein. 
 2. Agreement.
The Undersigned (i) agrees that the shares of Common Stock acquired by the Undersigned, and certain other shares of Common Stock that may be acquired by the Undersigned in the future, shall be bound by and subject to the terms of the
Registration Rights Agreement, pursuant to the terms thereof, and (ii) hereby adopts the Registration Rights Agreement with the same force and effect as if he were originally a party thereto. 

3. Notice. Any notice required as permitted by the Registration Rights Agreement shall be given to the Undersigned at the address listed beside the
Undersigned’s signature below. 
 4. Joinder. The spouse of the Undersigned, if applicable, hereby executes this Adoption to acknowledge
(a) this Adoption’s fairness and (b) that binding such spouse’s community interest, if any, in the shares of Common Stock to the terms of the Registration Rights Agreement is in such spouse’s best interest. 

 

			
	[UNDERSIGNED]
		
	By:	 	  

	Name:	 	
	Title:	 	
	Date:	 	
	
	[UNDERSIGNED’S SPOUSE (IF APPLICABLE)]
		
	By:	 	  

	Name:	 	
	Title:	 	
	Date:	 	

 

					
		 	Address for Notices:	 	
			
	[	 	  
	 	]
	[	 	  
	 	]
	[	 	  
	 	]

					
	Attn: [	 	  
	 	]
		 		 	
		 		 	
		 		 	
		 		 	
		 		 	

 
 

  
 Adoption Agreement
Signature Page

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