Document:

Exhibit 4.1

 

INNOVAGE HOLDING CORP.

 

REGISTRATION RIGHTS AGREEMENT

 

THIS REGISTRATION RIGHTS
AGREEMENT (this “Agreement”) is made as of March 8, 2021 among InnovAge Holding Corp., a Delaware corporation
(the “Company”), each of the investors listed on the signature pages hereto under the caption “Sponsor
Investors” (collectively, the “Sponsor Investors”) and each Person who executes a Joinder as an “Other
Investor” (collectively, the “Other Investors”). Except as otherwise specified herein, all capitalized
terms used in this Agreement are defined in Exhibit A attached hereto.

 

In consideration of
the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties to this Agreement hereby agree as follows:

 

Section 1      Demand
Registrations.

 

(a)      Requests
for Registration. At any time and from time to time, the Sponsor Investors may request registration under the Securities Act
of all or any portion of their Registrable Securities on Form S-1 or any similar long-form registration statement (“Long-Form Registrations”)
or on Form S-3 or any similar short-form registration statement (“Short-Form Registrations”), if
available (any such requested registration, a “Demand Registration”). The Sponsor Investors may request that
any Demand Registration be made pursuant to Rule 415 under the Securities Act (a “Shelf Registration”)
and (if the Company is a WKSI at the time any such request is submitted to the Company or will become one by the time of the filing
of such Shelf Registration) that such Shelf Registration be an automatic shelf registration statement (as defined in Rule 405
under the Securities Act) (an “Automatic Shelf Registration Statement”). Each request for a Demand Registration
must specify the approximate number or dollar value of Registrable Securities requested to be registered by the requesting Holders
and (if known) the intended method of distribution. The Sponsor Investors will be entitled to request an unlimited number of Demand
Registrations for which the Company will pay all Registration Expenses, whether or not any such registration is consummated.

 

(b)      Notice
to Other Holders. Within four (4) Business Days after receipt of any such request, the Company will give written notice
of the Demand Registration to all other Holders and, subject to the terms of Section 1(e), will include in such Demand
Registration (and in all related registrations and qualifications under state blue sky laws and in any related underwriting) all
Registrable Securities with respect to which the Company has received written requests for inclusion therein within ten (10) days
after the receipt of the Company’s notice; provided that, with the written consent of the Sponsor Investors, the
Company may, or at the written request of the Sponsor Investors, the Company shall, instead provide notice of the Demand Registration
to all other Holders within three (3) Business Days following the non-confidential filing of the registration statement with
respect to the Demand Registration so long as such registration statement is not an Automatic Shelf Registration Statement.

 

(c)      Form of
Registrations. All Long-Form Registrations will be underwritten registrations unless otherwise approved by the Sponsor
Investors. Demand Registrations will be Short-Form Registrations whenever the Company is permitted to use any applicable
short form unless otherwise requested by the Sponsor Investors.

 

    

     

    

 

(d)      Shelf
Registrations.

 

(i)            For
so long as a registration statement for a Shelf Registration (a “Shelf Registration Statement”) is and remains
effective, the Sponsor Investors will have the right at any time or from time to time to elect to sell pursuant to an offering
(including an underwritten offering) Registrable Securities pursuant to such registration statement (“Shelf Registrable
Securities”). If the Sponsor Investors desire to sell Registrable Securities pursuant to an underwritten offering, then
the Sponsor Investors may deliver to the Company a written notice (a “Shelf Offering Notice”) specifying the
number of Shelf Registrable Securities that the Sponsor Investors desire to sell pursuant to such underwritten offering (the “Shelf
Offering”). As promptly as practicable, but in no event later than two (2) Business Days after receipt of a Shelf
Offering Notice, the Company will give written notice of such Shelf Offering Notice to all other Holders of Shelf Registrable
Securities that have been identified as selling stockholders in such Shelf Registration Statement and are otherwise permitted
to sell in such Shelf Offering, which such notice shall request that each such Holder specify, within seven (7) days after
the Company’s receipt of the Shelf Offering Notice, the maximum number of Shelf Registrable Securities such Holder desires
to be disposed of in such Shelf Offering. The Company, subject to Section 1(e) and Section 7, will
include in such Shelf Offering all Shelf Registrable Securities with respect to which the Company has received timely written
requests for inclusion. The Company will, as expeditiously as possible (and in any event within fourteen (14) days after the receipt
of a Shelf Offering Notice), but subject to Section 1(e), use its best efforts to consummate such Shelf Offering.

 

(ii)            If
the Sponsor Investors desire to engage in an underwritten block trade or bought deal pursuant to a Shelf Registration Statement
(either through filing an Automatic Shelf Registration Statement or through a take-down from an already existing Shelf Registration
Statement) (each, an “Underwritten Block Trade”), then notwithstanding the time periods set forth in Section 1(d)(i),
the Sponsor Investors may notify the Company of the Underwritten Block Trade not less than two (2) Business Days prior to
the day such offering is first anticipated to commence. If requested by the Sponsor Investors, the Company will promptly notify
other Holders of such Underwritten Block Trade and such notified Holders (each, a “Potential Participant”)
may elect whether or not to participate no later than the next Business Day (i.e. one (1) Business Day prior to the
day such offering is to commence) (unless a longer period is agreed to by the Sponsor Investors), and the Company will as expeditiously
as possible use its best efforts to facilitate such Underwritten Block Trade (which may close as early as two (2) Business
Days after the date it commences); provided further that, notwithstanding the provisions of Section 1(d)(i),
no Holder (other than Holders of Sponsor Investor Registrable Securities) will be permitted to participate in an Underwritten
Block Trade without the written consent of the Sponsor Investors. Any Potential Participant’s request to participate in
an Underwritten Block Trade shall be binding on the Potential Participant.

 

(iii)            All
determinations as to whether to complete any Shelf Offering and as to the timing, manner, price and other terms of any Shelf Offering
contemplated by this Section 1(d) shall be determined by the Sponsor Investors, and the Company shall use its
best efforts to cause any Shelf Offering to occur in accordance with such determinations as promptly as practicable.

 

(iv)            The
Company will, at the request of the Sponsor Investors, file any prospectus supplement or any post-effective amendments and otherwise
take any action necessary to include therein all disclosure and language deemed necessary or advisable by the Sponsor Investors
to effect such Shelf Offering.

 

(e)      Priority
on Demand Registrations and Shelf Offerings. The Company will not include in any Demand Registration any securities which
are not Registrable Securities without the prior written consent of the Sponsor Investors. If a Demand Registration or a Shelf
Offering is an underwritten offering and the managing underwriters advise the Company in writing that in their opinion the number
of Registrable Securities and (if permitted hereunder) other securities requested to be included in such offering exceeds the
number of Registrable Securities and other securities (if any), which can be sold therein without adversely affecting the marketability,
proposed offering price, timing or method of distribution of the offering, then the Company will include in such offering (prior
to the inclusion of any securities which are not Registrable Securities); (i) first, the number of Sponsor Investor Registrable
Securities requested to be included which, in the opinion of such underwriters, can be sold, without any such adverse effect,
pro rata among the respective Participating Sponsor Investors on the basis of the number of Sponsor Investor Registrable Securities
owned by each such Participating Sponsor Investor; and (ii) second, the number of Registrable Securities requested to be
included by any Holder which, in the opinion of such underwriters, can be sold, without any such adverse effect, pro rata among
such Holders on the basis of the number of Registrable Securities owned by each such Holder.

 

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(f)       Restrictions
on Demand Registration and Shelf Offerings.

 

(i)            The
Company may postpone, for up to 60 days (or with the consent of the Sponsor Investors, a longer period) from the date of the request
(the “Suspension Period”), the filing or the effectiveness of a registration statement for a Demand Registration
or suspend the use of a prospectus that is part of a Shelf Registration Statement (and therefore suspend sales of the Shelf Registrable
Securities) by providing written notice to the Holders if the following conditions are met: (A) the Company determines that
the offer or sale of Registrable Securities would reasonably be expected to have a material adverse effect on any proposal or
plan by the Company or any Subsidiary to engage in any material acquisition of assets or stock (other than in the ordinary course
of business) or any material merger, consolidation, tender offer, recapitalization, reorganization, financing or other transaction
involving the Company and (B) upon advice of counsel, the sale of Registrable Securities pursuant to the registration statement
would require disclosure of material non-public information not otherwise required to be disclosed under applicable law, and either
(x) the Company has a bona fide business purpose for preserving the confidentiality of such transaction, (y) disclosure
would have a material adverse effect on the Company or the Company’s ability to consummate such transaction, or (z) such
transaction renders the Company unable to comply with SEC requirements, in each case under circumstances that would make it impractical
or inadvisable to cause the registration statement (or such filings) to become effective or to promptly amend or supplement the
registration statement on a post effective basis, as applicable. The Company may delay or suspend the effectiveness of a Demand
Registration or Shelf Registration Statement pursuant to this Section 1(f)(i) only once in any twelve (12)-month
period (for avoidance of doubt, in addition to the Company’s rights and obligations under Section 4(a)(vi))
unless additional delays or suspensions are approved by the Sponsor Investors.

 

(ii)            In
the case of an event that causes the Company to suspend the use of a Shelf Registration Statement as set forth in Section 1(f)(i) above
or pursuant to Section 4(a)(vi) (a “Suspension Event”), the Company will give a notice to
the Holders whose Registrable Securities are registered pursuant to such Shelf Registration Statement (a “Suspension
Notice”) to suspend sales of the Registrable Securities and such notice must state generally the basis for the notice
and that such suspension will continue only for so long as the Suspension Event or its effect is continuing. Each Holder agrees
not to effect any sales of its Registrable Securities pursuant to such Shelf Registration Statement (or such filings) at any time
after it has received a Suspension Notice from the Company and prior to receipt of an End of Suspension Notice. A Holder may recommence
effecting sales of the Registrable Securities pursuant to the Shelf Registration Statement (or such filings) following further
written notice to such effect (an “End of Suspension Notice”) from the Company, which End of Suspension Notice
will be given by the Company to the Holders promptly following the conclusion of any Suspension Event (and in any event during
the permitted Suspension Period).

 

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(g)      Selection
of Underwriters. The Sponsor Investors shall select the legal counsel to the Company, the investment banker(s) and manager(s) to
administer any underwritten offering in connection with any Demand Registration or Shelf Offering.

 

(h)      Other
Registration Rights. Except as provided in this Agreement, the Company will not grant to any Person(s) the right to request
the Company or any Subsidiary to register any equity securities of the Company or any Subsidiary, or any securities convertible
or exchangeable into or exercisable for such securities, without the prior written consent of the Sponsor Investors.

 

(i)       Revocation
of Demand Notice or Shelf Offering Notice.  At any time prior to the effective date of the registration statement relating
to a Demand Registration or the “pricing” of any offering relating to a Shelf Offering Notice, the Sponsor Investors
who initiated such Demand Registration or Shelf Offering may revoke or withdraw such notice of a Demand Registration or Shelf
Offering Notice on behalf of all Holders participating in such Demand Registration or Shelf Offering without liability to such
Holders (including, for the avoidance of doubt, the other Participating Sponsor Investors), in each case by providing written
notice to the Company.

 

(j)       Confidentiality.
Each Holder agrees to treat as confidential the receipt of any notice hereunder (including notice of a Demand Registration, a
Shelf Offering Notice and a Suspension Notice) and the information contained therein, and not to disclose or use the information
contained in any such notice (or the existence thereof) without the prior written consent of the Company until such time as the
information contained therein is or becomes available to the public generally (other than as a result of disclosure by such Holder
in breach of the terms of this Agreement).

 

Section 2     Piggyback
Registrations.

 

(a)      Right
to Piggyback. Whenever the Company proposes to register any of its equity securities under the Securities Act (including primary
and secondary registrations, and other than pursuant to an Excluded Registration) (a “Piggyback Registration”),
the Company will give prompt written notice (and in any event within three (3) Business Days after the public filing of the
registration statement relating to the Piggyback Registration) to all Holders of its intention to effect such Piggyback Registration
and, subject to the terms of Section 2(b) and Section 2(c), will include in such Piggyback Registration
(and in all related registrations or qualifications under blue sky laws and in any related underwriting) all Registrable Securities
with respect to which the Company has received written requests for inclusion therein within ten (10) days after delivery
of the Company’s notice. Any Participating Sponsor Investor may withdraw its request for inclusion at any time prior to
executing the underwriting agreement, or if none, prior to the applicable registration statement becoming effective.

 

(b)      Priority
on Primary Registrations. If a Piggyback Registration is an underwritten primary registration on behalf of the Company, and
the managing underwriters advise the Company in writing that in their opinion the number of securities requested to be included
in such registration exceeds the number which can be sold in such offering without adversely affecting the marketability, proposed
offering price, timing or method of distribution of the offering, the Company will include in such registration (i) first,
the securities the Company proposes to sell, (ii) second, the Sponsor Investor Registrable Securities requested to
be included in such registration which, in the opinion of the underwriters, can be sold, without any such adverse effect, pro
rata among the Participating Sponsor Investors on the basis of the number of Registrable Securities owned by each such Participating
Sponsor Investor, (iii) third, any other Registrable Securities requested to be included in such registration by any
other Holder which, in the opinion of the underwriters, can be sold, without any such adverse effect, pro rata among such Holders
on the basis of the number of Registrable Securities owned by each such Holder and (iv) fourth, other securities requested
to be included in such registration which, in the opinion of the underwriters, can be sold without any such adverse effect.

 

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(c)      Priority
on Secondary Registrations. If a Piggyback Registration is an underwritten secondary registration on behalf of holders of
the Company’s equity securities (other than pursuant to Section 1 hereof), and the managing underwriters advise the
Company in writing that in their opinion the number of securities requested to be included in such registration exceeds the number
which can be sold in such offering without adversely affecting the marketability, proposed offering price, timing or method of
distribution of the offering, the Company will include in such registration (i) first, the securities requested to
be included therein by the holders initially requesting such registration which, in the opinion of the underwriters, can be sold
without any such adverse effect, (ii) second, the Sponsor Investor Registrable Securities requested to be included
in such registration which, in the opinion of the underwriters, can be sold, without any such adverse effect, pro rata among the
Participating Sponsor Investors on the basis of the number of Registrable Securities owned by each such Participating Sponsor
Investor, (iii) third, any other Registrable Securities requested to be included in such registration by any other
Holder which, in the opinion of the underwriters, can be sold, without any such adverse effect, pro rata among such Holders on
the basis of the number of Registrable Securities owned by each such Holder and (iv) fourth, other securities requested
to be included in such registration which, in the opinion of the underwriters, can be sold without any such adverse effect.

 

(d)      Right
to Terminate Registration. The Company will have the right to terminate or withdraw any registration initiated by it under
this Section 2, whether or not any holder of Registrable Securities has elected to include securities in such registration.

 

(e)      Selection
of Underwriters. If any Piggyback Registration is an underwritten offering, the Sponsor Investors shall select the legal counsel
for the Company, the investment banker(s) and manager(s) for the offering.

 

Section 3     Stockholder
Lock-Up Agreements and Company Holdback Agreement.

 

(a)      Stockholder
Lock-up Agreements. In connection with any underwritten Public Offering, each Holder will enter into any lock-up, holdback
or similar agreements requested by the underwriter(s) managing such offering, in each case with such modifications and exceptions
as may be approved by the Sponsor Investors. Without limiting the generality of the foregoing, each Holder hereby agrees that
in connection with the initial Public Offering and in connection with any Demand Registration, Shelf Offering or Piggyback Registration
that is an underwritten Public Offering, not to (i) offer, sell, contract to sell, pledge or otherwise dispose of (including
sales pursuant to Rule 144), directly or indirectly, any equity securities of the Company (including equity securities of
the Company that may be deemed to be beneficially owned by such Holder in accordance with the rules and regulations of the
SEC) (collectively, “Securities”), or any securities, options or rights convertible into or exchangeable or
exercisable for Securities (collectively, “Other Securities”), (ii) enter into a transaction which would
have the same effect as described in clause (i) above, (iii) enter into any swap, hedge or other arrangement that transfers,
in whole or in part, any of the economic consequences or ownership of any Securities or Other Securities, whether such transaction
is to be settled by delivery of such Securities or Other Securities, in cash or otherwise (each of (i), (ii) and (iii) above,
a “Sale Transaction”), or (iv) publicly disclose the intention to enter into any Sale Transaction, commencing
on the date on which the Company gives notice to the Holders that a preliminary prospectus has been circulated for such underwritten
Public Offering or the “pricing” of such offering and continuing to the date that is (x) 180 days following the
date of the final prospectus for such underwritten Public Offering in the case of the initial Public Offering or (y) 90 days
following the date of the final prospectus in the case of any other such underwritten Public Offering (each such period, or such
shorter period as agreed to by the managing underwriters, a “Holdback Period”), in each case with such modifications
and exceptions as may be approved by the Sponsor Investors. The Company may impose stop-transfer instructions with respect to
any Securities or Other Securities subject to the restrictions set forth in this Section 3(a) until the end of
such Holdback Period.

 

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(b)      Company
Holdback Agreement. The Company (i) will not file any registration statement for a Public Offering or cause any such
registration statement to become effective, or effect any public sale or distribution of its Securities or Other Securities during
any Holdback Period (other than as part of such underwritten Public Offering, or a registration on Form S-4 or Form S-8
or any successor or similar form which is (x) then in effect or (y) shall become effective upon the conversion, exchange
or exercise of any then outstanding Other Securities) and (ii) will cause each holder of Securities and Other Securities
(including each of its directors and executive officers) to agree not to effect any Sale Transaction during any Holdback Period,
except as part of such underwritten registration (if otherwise permitted), unless approved in writing by the Sponsor Investors
and the underwriters managing the Public Offering and to enter into any lock-up, holdback or similar agreements requested by the
underwriter(s) managing such offering, in each case with such modifications and exceptions as may be approved by the Sponsor
Investors.

 

Section 4     Registration
Procedures.

 

(a)      Company
Obligations. Whenever the Holders have requested that any Registrable Securities be registered pursuant to this Agreement
or have initiated a Shelf Offering, the Company will use its best efforts to effect the registration and the sale of such Registrable
Securities in accordance with the intended method of disposition thereof, and pursuant thereto the Company will as expeditiously
as possible:

 

(i)            prepare
and file with (or submit confidentially to) the SEC a registration statement, and all amendments and supplements thereto and related
prospectuses, with respect to such Registrable Securities and use its best efforts to cause such registration statement to become
effective, all in accordance with the Securities Act and all applicable rules and regulations promulgated thereunder (provided
that before filing or confidentially submitting a registration statement or prospectus or any amendments or supplements thereto,
the Company will furnish to the counsel selected by the Sponsor Investors covered by such registration statement copies of all
such documents proposed to be filed or submitted, which documents will be subject to the review and comment of such counsel);

 

(ii)            notify
each Holder of (A) the issuance by the SEC of any stop order suspending the effectiveness of any registration statement or
the initiation of any proceedings for that purpose, (B) the receipt by the Company or its counsel of any notification with
respect to the suspension of the qualification of the Registrable Securities for sale in any jurisdiction or the initiation or
threatening of any proceeding for such purpose, and (C) the effectiveness of each registration statement filed hereunder;

 

(iii)            prepare
and file with the SEC such amendments and supplements to such registration statement and the prospectus used in connection therewith
as may be necessary to keep such registration statement effective for a period ending when all of the securities covered by such
registration statement have been disposed of in accordance with the intended methods of distribution by the sellers thereof set
forth in such registration statement (but not in any event before the expiration of any longer period required under the Securities
Act or, if such registration statement relates to an underwritten Public Offering, such longer period as in the opinion of counsel
for the underwriters a prospectus is required by law to be delivered in connection with sale of Registrable Securities by an underwriter
or dealer) and comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such
registration statement during such period in accordance with the intended methods of disposition by the sellers thereof set forth
in such registration statement;

 

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(iv)            furnish,
without charge, to each seller of Registrable Securities thereunder and each underwriter, if any, such number of copies of such
registration statement, each amendment and supplement thereto, the prospectus included in such registration statement (including
each preliminary prospectus) (in each case including all exhibits and documents incorporated by reference therein), each amendment
and supplement thereto, each Free Writing Prospectus and such other documents as such seller or underwriter, if any, may reasonably
request in order to facilitate the disposition of the Registrable Securities owned by such seller (the Company hereby consenting
to the use in accordance with all applicable laws of each such registration statement, each such amendment and supplement thereto,
and each such prospectus (or preliminary prospectus or supplement thereto) or Free Writing Prospectus by each such seller of Registrable
Securities and the underwriters, if any, in connection with the offering and sale of the Registrable Securities covered by such
registration statement or prospectus);

 

(v)            use
its best efforts to register or qualify such Registrable Securities under such other securities or blue sky laws of such jurisdictions
as any seller reasonably requests and do any and all other acts and things which may be reasonably necessary or advisable to enable
such seller to consummate the disposition in such jurisdictions of the Registrable Securities owned by such seller (provided
that the Company will not be required to (A) qualify generally to do business in any jurisdiction where it would not
otherwise be required to qualify but for this subparagraph, (B) consent to general service of process in any such jurisdiction
or (C) subject itself to taxation in any such jurisdiction);

 

(vi)            notify
in writing each seller of such Registrable Securities (A) promptly after it receives notice thereof, of the date and time
when such registration statement and each post-effective amendment thereto has become effective or a prospectus or supplement
to any prospectus relating to a registration statement has been filed and when any registration or qualification has become effective
under a state securities or blue sky law or any exemption thereunder has been obtained, (B) promptly after receipt thereof,
of any request by the SEC for the amendment or supplementing of such registration statement or prospectus or for additional information,
and (C) at any time when a prospectus relating thereto is required to be delivered under the Securities Act, of the happening
of any event or of any information or circumstances as a result of which the prospectus included in such registration statement
contains an untrue statement of a material fact or omits any fact necessary to make the statements therein not misleading, and,
subject to Section 1(f), if required by applicable law or to the extent requested by the Sponsor Investor, the Company
will use its best efforts to promptly prepare and file a supplement or amendment to such prospectus so that, as thereafter delivered
to the purchasers of such Registrable Securities, such prospectus will not contain an untrue statement of a material fact or omit
to state any fact necessary to make the statements therein not misleading and (D) if at any time the representations and
warranties of the Company in any underwriting agreement, securities sale agreement, or other similar agreement, relating to the
offering shall cease to be true and correct;

 

(vii)            (A) use
best efforts to cause all such Registrable Securities to be listed on each securities exchange on which similar securities issued
by the Company are then listed and, if not so listed, to be listed on a securities exchange and, without limiting the generality
of the foregoing, to arrange for at least two market markers to register as such with respect to such Registrable Securities with
FINRA, and (B) comply (and continue to comply) with the requirements of any self-regulatory organization applicable to the
Company, including without limitation all corporate governance requirements;

 

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(viii)         use
best efforts to provide a transfer agent and registrar for all such Registrable Securities not later than the effective date of
such registration statement;

 

(ix)            enter
into and perform such customary agreements (including, as applicable, underwriting agreements in customary form) and take all
such other actions as the Sponsor Investors or the underwriters, if any, reasonably request in order to expedite or facilitate
the disposition of such Registrable Securities (including, without limitation, making available the executive officers of the
Company and participating in “road shows,” investor presentations, marketing events and other selling efforts and
effecting a stock or unit split or combination, recapitalization or reorganization);

 

(x)             make
available for inspection by any seller of Registrable Securities, any underwriter participating in any disposition or sale pursuant
to such registration statement and any attorney, accountant or other agent retained by any such seller or underwriter, all financial
and other records, pertinent corporate and business documents and properties of the Company as will be necessary to enable them
to exercise their due diligence responsibility, and cause the Company’s officers, directors, employees, agents, representatives
and independent accountants to supply all information reasonably requested by any such seller, underwriter, attorney, accountant
or agent in connection with such registration statement and the disposition of such Registrable Securities pursuant thereto;

 

(xi)            take
all actions to ensure that any Free-Writing Prospectus utilized in connection with any Demand Registration or Piggyback Registration
or Shelf Offering hereunder complies in all material respects with the Securities Act, is filed in accordance with the Securities
Act to the extent required thereby, is retained in accordance with the Securities Act to the extent required thereby and, when
taken together with the related prospectus, prospectus supplement and related documents, will not contain any untrue statement
of a material fact or omit to state a material fact necessary to make the statements therein, in light of the circumstances under
which they were made, not misleading;

 

(xii)           otherwise
use its best efforts to comply with all applicable rules and regulations of the SEC, and make available to its security holders,
as soon as reasonably practicable, an earnings statement covering the period of at least twelve (12) months beginning with the
first day of the Company’s first full calendar quarter after the effective date of the registration statement, which earnings
statement will satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder;

 

(xiii)          permit
any Holder which, in its sole and exclusive judgment, might be deemed to be an underwriter or a controlling person of the Company,
to participate in the preparation of such registration or comparable statement and to allow such Holder to provide language for
insertion therein, in form and substance satisfactory to the Company, which in the reasonable judgment of such Holder and its
counsel should be included;

 

(xiv)          use
best efforts to (A) make Short-Form Registration available for the sale of Registrable Securities and (B) prevent
the issuance of any stop order suspending the effectiveness of a registration statement, or the issuance of any order suspending
or preventing the use of any related prospectus or suspending the qualification of any Common Equity included in such registration
statement for sale in any jurisdiction use, and in the event any such order is issued, best efforts to obtain promptly the withdrawal
of such order;

 

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(xv)           use
its reasonable best efforts to cause such Registrable Securities covered by such registration statement to be registered with
or approved by such other governmental agencies or authorities as may be necessary to enable the sellers thereof to consummate
the disposition of such Registrable Securities;

 

(xvi)          cooperate
with the Holders covered by the registration statement and the managing underwriter or agent, if any, to facilitate the timely
preparation and delivery of certificates (not bearing any restrictive legends) representing securities to be sold under the registration
statement, or the removal of any restrictive legends associated with any account at which such securities are held, and enable
such securities to be in such denominations and registered in such names as the managing underwriter, or agent, if any, or such
Holders may request;

 

(xvii)         if
requested by any managing underwriter, include in any prospectus or prospectus supplement updated financial or business information
for the Company’s most recent period or current quarterly period (including estimated results or ranges of results) if required
for purposes of marketing the offering in the view of the managing underwriter;

 

(xviii)        take
no direct or indirect action prohibited by Regulation M under the Exchange Act; provided, however, that to the extent
that any prohibition is applicable to the Company, the Company will take such action as is necessary to make any such prohibition
inapplicable;

 

(xix)          (A) cooperate
with each Holder covered by the registration statement and each underwriter or agent participating in the disposition of such
Registrable Securities and their respective counsel in connection with the preparation and filing of applications, notices, registrations
and responses to requests for additional information with FINRA, the New York Stock Exchange, Nasdaq or any other national securities
exchange on which the shares of Common Equity are or are to be listed, and (B) to the extent required by the rules and
regulations of FINRA, retain a Qualified Independent Underwriter acceptable to the managing underwriter;

 

(xx)           in
the case of any underwritten offering, use its best efforts to obtain, and deliver to the underwriter(s), in the manner and to
the extent provided for in the applicable underwriting agreement, one or more cold comfort letters from the Company’s independent
public accountants in customary form and covering such matters of the type customarily covered by cold comfort letters;

 

(xxi)          use
its best efforts to provide (A) a legal opinion of the Company’s outside counsel, dated the effective date of such
registration statement addressed to the Company, (B) on the date that such Registrable Securities are delivered to the underwriters
for sale in connection with a Demand Registration or Shelf Offering, if such securities are being sold through underwriters, or,
if such securities are not being sold through underwriters, on the closing date of the applicable sale, (1) one or more legal
opinions of the Company’s outside counsel, dated such date, in form and substance as customarily given to underwriters in
an underwritten public offering or, in the case of a non-underwritten offering, to the broker, placement agent or other agent
of the Holders assisting in the sale of the Registrable Securities and (2) one or more “negative assurances letters”
of the Company’s outside counsel, dated such date, in form and substance as is customarily given to underwriters in an underwritten
public offering or, in the case of a non-underwritten offering, to the broker, placement agent or other agent of the Holders assisting
in the sale of the Registrable Securities, in each case, addressed to the underwriters, if any, or, if requested, in the case
of a non-underwritten offering, to the broker, placement agent or other agent of the Holders assisting in the sale of the Registrable
Securities and (3) customary certificates executed by authorized officers of the Company as may be requested by any Holder
or any underwriter of such Registrable Securities;

 

    -9-

     

    

 

(xxii)            if
the Company files an Automatic Shelf Registration Statement covering any Registrable Securities, use its best efforts to remain
a WKSI (and not become an ineligible issuer (as defined in Rule 405 under the Securities Act)) during the period during which
such Automatic Shelf Registration Statement is required to remain effective;

 

(xxiii)            if
the Company does not pay the filing fee covering the Registrable Securities at the time an Automatic Shelf Registration Statement
is filed, pay such fee at such time or times as the Registrable Securities are to be sold;

 

(xxiv)            if
the Automatic Shelf Registration Statement has been outstanding for at least three (3) years, at the end of the third year,
refile a new Automatic Shelf Registration Statement covering the Registrable Securities, and, if at any time when the Company
is required to re-evaluate its WKSI status the Company determines that it is not a WKSI, use its best efforts to refile the Shelf
Registration Statement on Form S-3 and, if such form is not available, Form S-1 and keep such registration statement
effective during the period during which such registration statement is required to be kept effective; and

 

(xxv)            if
requested by any Participating Sponsor Investor, cooperate with such Participating Sponsor Investor and with the managing underwriter
or agent, if any, on reasonable notice to facilitate any Charitable Gifting Event and to prepare and file with the SEC such amendments
and supplements to such Registration Statement and the Prospectus used in connection therewith as may be necessary to permit any
such recipient Charitable Organization to sell in the underwritten offering if it so elects.

 

(b)      Officer
Obligations. Each Holder that is an officer of the Company agrees that if and for so long as he or she is employed by the
Company or any Subsidiary thereof, he or she will participate fully in the sale process in a manner customary for persons in like
positions and consistent with his or her other duties with the Company, including the preparation of the registration statement
and the preparation and presentation of any road shows.

 

(c)      Automatic
Shelf Registration Statements. If the Company files any Automatic Shelf Registration Statement for the benefit of the holders
of any of its securities other than the Holders, and the Sponsor Investors do not request that their Registrable Securities be
included in such Shelf Registration Statement, the Company agrees that, at the request of the Sponsor Investors, it will include
in such Automatic Shelf Registration Statement such disclosures as may be required by Rule 430B in order to ensure that the
Sponsor Investors may be added to such Shelf Registration Statement at a later time through the filing of a prospectus supplement
rather than a post-effective amendment. If the Company has filed any Automatic Shelf Registration Statement for the benefit of
the holders of any of its securities other than the Holders, the Company shall, at the request of the Sponsor Investors, file
any post-effective amendments necessary to include therein all disclosure and language necessary to ensure that the holders of
Registrable Securities may be added to such Shelf Registration Statement.

 

(d)      Additional
Information. The Company may require each seller of Registrable Securities as to which any registration is being effected
to furnish the Company such information regarding such seller and the distribution of such securities as the Company may from
time to time reasonably request in writing, as a condition to such seller’s participation in such registration.

 

    -10-

     

    

 

(e)      In-Kind
Distributions. If any Sponsor Investor (and/or any of their Affiliates) seeks to effectuate an in-kind distribution of all
or part of their Registrable Securities to their respective direct or indirect equityholders, the Company will, subject to any
applicable lock-ups, work with the foregoing Persons to facilitate such in-kind distribution in the manner reasonably requested
and consistent with the Company’s obligations under the Securities Act.

 

(f)       Suspended
Distributions. Each Person participating in a registration hereunder agrees that, upon receipt of any notice from the Company
of the happening of any event of the kind described in Section 4(a)(vi), such Person will immediately discontinue
the disposition of its Registrable Securities pursuant to the registration statement until such Person’s receipt of the
copies of a supplemented or amended prospectus as contemplated by Section 4(a)(vi), subject to the Company’s
compliance with its obligations under Section 4(a)(vi).

 

(g)      Other.
To the extent that any of the Participating Sponsor Investors is or may be deemed to be an “underwriter” of Registrable
Securities pursuant to any SEC comments or policies, the Company agrees that (i) the indemnification and contribution provisions
contained in Section 6 shall be applicable to the benefit of such Participating Sponsor Investor in their role as
an underwriter or deemed underwriter in addition to their capacity as a holder and (ii) such Participating Sponsor Investor
shall be entitled to conduct the due diligence which they would normally conduct in connection with an offering of securities
registered under the Securities Act, including without limitation receipt of customary opinions and comfort letters addressed
to such Participating Sponsor Investor.

 

Section 5     Registration
Expenses.

 

Except as expressly
provided herein, all out-of-pocket expenses incurred by the Company or any Sponsor Investor in connection with the performance
of or compliance with this Agreement and/or in connection with any Demand Registration, Piggyback Registration or Shelf Offering,
whether or not the same shall become effective, shall be paid by the Company, including, without limitation: (i) all registration
and filing fees, and any other fees and expenses associated with filings required to be made with the SEC or FINRA, (ii) all
fees and expenses in connection with compliance with any securities or “blue sky” laws, (iii) all printing, duplicating,
word processing, messenger, telephone, facsimile and delivery expenses (including expenses of printing certificates for the Registrable
Securities in a form eligible for deposit with The Depository Trust Company or other depositary and of printing prospectuses and
Company Free Writing Prospectuses), (iv) all fees and disbursements of counsel for the Company and of all independent certified
public accountants of the Company (including the expenses of any special audit and cold comfort letters required by or incident
to such performance), (v) Securities Act liability insurance or similar insurance if the Company so desires or the underwriters
so require in accordance with then-customary underwriting practice, (vi) all fees and expenses incurred in connection with
the listing of the Registrable Securities on any securities exchange on which similar securities of the Company are then listed
(or on which exchange the Registrable Securities are proposed to be listed in the case of the initial Public Offering), (vii) all
applicable rating agency fees with respect to the Registrable Securities, (viii) all fees and disbursements of legal counsel
for the Company, (ix) all reasonable fees and disbursements of one legal counsel for selling Holders selected by the Sponsor
Investors (which may be the same counsel as selected for the Company) together with any necessary local counsel as may be required
by the Sponsor Investors, (x) any fees and disbursements of underwriters customarily paid by issuers or sellers of securities,
(xi) all fees and expenses of any special experts or other Persons retained by the Company or the Sponsor Investors in connection
with any Registration (xii) all of the Company’s internal expenses (including all salaries and expenses of its officers
and employees performing legal or accounting duties) and (xiii) all expenses related to the “road-show” for any
underwritten offering, including all travel, meals and lodging. All such expenses are referred to herein as “Registration
Expenses.” The Company shall not be required to pay, and each Person that sells securities pursuant to a Demand Registration,
Shelf Offering or Piggyback Registration hereunder will bear and pay, all underwriting discounts and commissions applicable to
the Registrable Securities sold for such Person’s account and all transfer taxes (if any) attributable to the sale of Registrable
Securities.

 

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Section 6     Indemnification
and Contribution.

 

(a)      By
the Company. The Company will indemnify and hold harmless, to the fullest extent permitted by law and without limitation as
to time, each Holder, such Holder’s officers, directors, employees, agents, fiduciaries, stockholders, managers, partners,
members, Affiliates, direct and indirect equityholders, consultants and representatives, and any successors and assigns thereof,
and each Person who controls such holder (within the meaning of the Securities Act) (the “Indemnified Parties”)
against all losses, claims, actions, damages, liabilities and expenses (including with respect to actions or proceedings, whether
commenced or threatened, and including reasonable attorney fees and expenses) (collectively, “Losses”) caused
by, resulting from, arising out of, based upon or related to any of the following (each, a “Violation”) by
the Company: (i) any untrue or alleged untrue statement of material fact contained in (A) any registration statement,
prospectus, preliminary prospectus or Free-Writing Prospectus, or any amendment thereof or supplement thereto or (B) any
application or other document or communication (in this Section 6, collectively called an “application”)
executed by or on behalf of the Company or based upon written information furnished by or on behalf of the Company filed in any
jurisdiction in order to qualify any securities covered by such registration under the “blue sky” or securities laws
thereof, (ii) any omission or alleged omission of a material fact required to be stated therein or necessary to make the
statements therein not misleading or (iii) any Violation or alleged Violation by the Company of the Securities Act or any
other similar federal or state securities laws or any rule or regulation promulgated thereunder applicable to the Company
and relating to action or inaction required of the Company in connection with any such registration, qualification or compliance.
In addition, the Company will reimburse such Indemnified Party for any legal or any other expenses reasonably incurred by them
in connection with investigating or defending any such Losses. Notwithstanding the foregoing, the Company will not be liable in
any such case to the extent that any such Losses result from, arise out of, are based upon, or relate to an untrue statement,
or omission, made in such registration statement, any such prospectus, preliminary prospectus or Free-Writing Prospectus or any
amendment or supplement thereto, or in any application, in reliance upon, and in conformity with, written information prepared
and furnished in writing to the Company by such Indemnified Party expressly for use therein or by such Indemnified Party’s
failure to deliver a copy of the registration statement or prospectus or any amendments or supplements thereto after the Company
has furnished such Indemnified Party with a sufficient number of copies of the same. In connection with an underwritten offering,
the Company will indemnify such underwriters, their officers and directors, and each Person who controls such underwriters (within
the meaning of the Securities Act) to the same extent as provided above with respect to the indemnification of the Indemnified
Parties or as otherwise agreed to in the underwriting agreement executed in connection with such underwritten offering. Such indemnity
and reimbursement of expenses shall remain in full force and effect regardless of any investigation made by or on behalf of such
Indemnified Party and shall survive the transfer of such securities by such seller.

 

(b)      By
Holders. In connection with any registration statement in which a Holder is participating, each such Holder will furnish to
the Company in writing such information and affidavits as the Company reasonably requests for use in connection with any such
registration statement or prospectus and, to the extent permitted by law, will indemnify the Company, its officers, directors,
employees, agents and representatives, and each Person who controls the Company (within the meaning of the Securities Act) against
any Losses resulting from (as determined by a final and appealable judgment, order or decree of a court of competent jurisdiction)
any untrue statement of material fact contained in the registration statement, prospectus or preliminary prospectus or any amendment
thereof or supplement thereto or any omission of a material fact required to be stated therein or necessary to make the statements
therein not misleading, but only to the extent that such untrue statement or omission is contained in any information or affidavit
so furnished in writing by such Holder expressly for use therein; provided that the obligation to indemnify will be individual,
not joint and several, for each Holder and will be limited to the net amount of proceeds received by such Holder from the sale
of Registrable Securities pursuant to such registration statement.

 

    -12-

     

    

 

 

(c)   Claim
Procedure. Any Person entitled to indemnification hereunder will (i) give prompt written notice to the indemnifying party
of any claim with respect to which it seeks indemnification (provided that the failure to give prompt notice will impair
any Person’s right to indemnification hereunder only to the extent such failure has prejudiced the indemnifying party) and
(ii) unless in such indemnified party’s reasonable judgment a conflict of interest between such indemnified and indemnifying
parties may exist with respect to such claim, permit such indemnifying party to assume the defense of such claim with counsel
reasonably satisfactory to the indemnified party. If such defense is assumed, the indemnifying party will not be subject to any
liability for any settlement made by the indemnified party without its consent (but such consent will not be unreasonably withheld,
conditioned or delayed). 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, unless in the reasonable judgment of any indemnified party a conflict of interest may exist between such
indemnified party and any other of such indemnified parties with respect to such claim. In such instance, the conflicted indemnified
parties will have a right to retain one separate counsel, chosen by the majority of the conflicted indemnified parties involved
in the indemnification and approved by the Sponsor Investor, at the expense of the indemnifying party.

 

(d)   Contribution.
If the indemnification provided for in this Section 6 is held by a court of competent jurisdiction to be unavailable
to, or is insufficient to hold harmless, an indemnified party or is otherwise unenforceable with respect to any Loss referred
to herein, then such indemnifying party will contribute to the amounts paid or payable by such indemnified party as a result of
such Loss, (i) in such proportion as is appropriate to reflect the relative fault of the indemnifying party on the one hand
and of the indemnified party on the other hand in connection with the statements or omissions which resulted in such Loss as well
as any other relevant equitable considerations or (ii) if the allocation provided by clause (i) of this Section 6(d) is
not permitted by applicable law, then in such proportion as is appropriate to reflect not only such relative fault but also the
relative benefit of the Company on the one hand and of the sellers of Registrable Securities and any other sellers participating
in the registration statement on the other in connection with the statement or omissions which resulted in such Losses, as well
as any other relevant equitable considerations; provided that the maximum amount of liability in respect of such contribution
will be limited, in the case of each seller of Registrable Securities, to an amount equal to the net proceeds actually received
by such seller from the sale of Registrable Securities effected pursuant to such registration. The relative fault of the indemnifying
party and of the indemnified party will be determined by reference to, among other things, whether the untrue (or, as applicable
alleged) untrue statement of a material fact or the omission to state a material fact relates to information supplied by the indemnifying
party or by the indemnified party and the parties’ relative intent, knowledge, access to information and opportunity to
correct or prevent such statement or omission. The parties hereto agree that it would not be just or equitable if the contribution
pursuant to this Section 6(d) were to be determined by pro rata allocation or by any other method of allocation
that does not take into account such equitable considerations. The amount paid or payable by an indemnified party as a result
of the Losses referred to herein will be deemed to include any legal or other expenses reasonably incurred by such indemnified
party in connection with investigating or defending against any action or claim which is the subject hereof. No person guilty
of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) will be entitled
to contribution from any Person who is not guilty of such fraudulent misrepresentation.

 

(e)    Release.
No indemnifying party will, except with the consent of the indemnified party, consent to the entry of any judgment or enter into
any settlement that does not include as an unconditional term thereof giving by the claimant or plaintiff to such indemnified
party of a release from all liability in respect to such claim or litigation.

 

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(f)    Non-exclusive
Remedy; Survival. The indemnification and contribution provided for under this Agreement will be in addition to any other
rights to indemnification or contribution that any indemnified party may have pursuant to law or contract (and the Company and
its Subsidiaries shall be considered the indemnitors of first resort in all such circumstances to which this Section 6
applies) and will remain in full force and effect regardless of any investigation made by or on behalf of the indemnified
party or any officer, director or controlling Person of such indemnified party and will survive the transfer of Registrable Securities
and the termination or expiration of this Agreement.

 

Section 7         Cooperation
with Underwritten Offerings. No Person may participate in any underwritten registration hereunder unless such Person (i) agrees
to sell such Person’s securities on the basis provided in any underwriting arrangements approved by the Person or Persons
entitled hereunder to approve such arrangements (including, without limitation, pursuant to the terms of any over-allotment or
 “green shoe” option requested by the underwriters; provided that no Holder will be required to sell more than
the number of Registrable Securities such Holder has requested to include in such registration) and (ii) completes, executes
and delivers all questionnaires, powers of attorney, stock powers, custody agreements, indemnities, underwriting agreements and
other documents and agreements required under the terms of such underwriting arrangements or as may be reasonably requested by
the Company and the lead managing underwriter(s). To the extent that any such agreement is entered into pursuant to, and consistent
with, Section 3, Section 4 and/or this Section 7, the respective rights and obligations created
under such agreement will supersede the respective rights and obligations of the Holders, the Company and the underwriters created
thereby with respect to such registration.

 

Section 8         Subsidiary
Public Offering.

 

(a)   Subsidiary
Public Offering. If, after an initial Public Offering of the common equity securities of one of its Subsidiaries, the Company
distributes securities of such Subsidiary to its equityholders, then the rights and obligations of the Company pursuant to this
Agreement will apply, mutatis mutandis, to such Subsidiary, and the Company will cause such Subsidiary to comply with such
Subsidiary’s obligations under this Agreement as if it were the Company hereunder.

 

Section 9         Joinder;
Additional Parties; Transfer of Registrable Securities.

 

(a)   Joinder.
The Company may from time to time (with the prior written consent of the Sponsor Investors) permit any Person who acquires Common
Equity (or rights to acquire Common Equity) to become a party to this Agreement and to be entitled to and be bound by all of the
rights and obligations as a Holder by obtaining an executed joinder to this Agreement from such Person in the form of Exhibit B
attached hereto (a “Joinder”). Upon the execution and delivery of a Joinder by such Person, the Common
Equity held by such Person shall become the category of Registrable Securities (i.e. Sponsor Investor Registrable Securities or
Other Investor Registrable Securities), and such Person shall be deemed the category of Holder (i.e. Sponsor Investor or Other
Investor), in each case as set forth on the signature page to such Joinder.

 

(b)   Restrictions
on Transfers. Prior to transferring any Registrable Securities to any Person (including, without limitation, by operation
of law), the transferring Holder must first obtain the prior written consent of the Sponsor Investors, and if so obtained, cause
the prospective transferee to execute and deliver to the Company a Joinder, except that such consent and Joinder shall not be
required in the case of (i) a transfer to the Company, (ii) a transfer by any Sponsor Investor to its partners or members,
(iii) a Public Offering, (iv) a sale pursuant to Rule 144 after the completion of the initial Public Offering and/or
(v) a transfer in connection with a Sale of the Company. Any transfer or attempted transfer of Registrable Securities in
violation of any provision of this Agreement will be void, and the Company will not record such transfer on its books or treat
any purported transferee of such Registrable Securities as the owner thereof for any purpose (but the Company will be entitled
to enforce against such Person the obligations hereunder).

 

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(c)   Legend.
Each certificate (if any) evidencing any Registrable Securities and each certificate issued in exchange for or upon the transfer
of any Registrable Securities (unless such Registrable Securities would no longer be Registrable Securities after such transfer)
will be stamped or otherwise imprinted with a legend in substantially the following form:

 

“THE SECURITIES REPRESENTED
BY THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS ON TRANSFER AND OTHER PROVISIONS SET FORTH IN A REGISTRATION RIGHTS AGREEMENT
DATED AS OF _________ __, 2021 AMONG THE ISSUER OF SUCH SECURITIES (THE “COMPANY”) AND CERTAIN OF THE COMPANY’S
EQUITYHOLDERS, AS AMENDED. A COPY OF SUCH AGREEMENT WILL BE FURNISHED WITHOUT CHARGE BY THE COMPANY TO THE HOLDER HEREOF UPON
WRITTEN REQUEST.”

 

The Company will imprint such legend on
certificates evidencing Registrable Securities outstanding prior to the date hereof. The legend set forth above will be removed
from the certificates evidencing any securities that have ceased to be Registrable Securities.

 

Section 10        General
Provisions.

 

(a)   Amendments
and Waivers. Except as otherwise provided herein, the provisions of this Agreement may be amended, modified or waived only
with the prior written consent of the Company and the Sponsor Investors who are then Holders; provided that no such amendment,
modification or waiver that would treat a specific Holder or group of Holders of Registrable Securities (i.e., Sponsor Investors
or Other Investors) in a manner materially and adversely different than any other Holder or group of Holders will be effective
against such Holder or group of Holders without the consent of the holders of a majority of the Registrable Securities that are
held by the group of Holders that is materially and adversely affected thereby. The failure or delay of any Person 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 Person thereafter to enforce each and every provision of this Agreement in accordance with its terms. A waiver or consent
to or of any breach or default by any Person in the performance by that Person of his, her or its obligations under this Agreement
will not be deemed to be a consent or waiver to or of any other breach or default in the performance by that Person of the same
or any other obligations of that Person under this Agreement.

 

(b)   Remedies.
The parties to this Agreement will be entitled to enforce their rights under this Agreement specifically (without posting a bond
or other security), to recover damages caused by reason of any breach of any provision of this Agreement and to exercise all other
rights existing in their favor. The parties hereto agree and acknowledge that a breach of this Agreement would cause irreparable
harm and money damages would not be an adequate remedy for any such breach and that, in addition to any other rights and remedies
existing hereunder, any party will be entitled to specific performance and/or other injunctive relief from any court of law or
equity of competent jurisdiction (without posting any bond or other security) in order to enforce or prevent violation of the
provisions of this Agreement.

 

(c)   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 prohibited, invalid, illegal or unenforceable in any respect under any
applicable law or regulation in any jurisdiction, such prohibition, invalidity, illegality or unenforceability will not affect
the validity, legality or enforceability of any other provision of this Agreement in such jurisdiction or in any other jurisdiction,
but this Agreement will be reformed, construed and enforced in such jurisdiction as if such prohibited, invalid, illegal or unenforceable
provision had never been contained herein.

 

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(d)   Entire
Agreement. Except as otherwise provided herein, this Agreement contains the complete agreement and understanding among the
parties hereto with respect to the subject matter hereof and supersedes and preempts any prior understandings, agreements or representations
by or among the parties hereto, written or oral, which may have related to the subject matter hereof in any way.

 

(e)   Successors
and Assigns. Except as otherwise provided herein, this Agreement will bind and inure to the benefit and be enforceable by
the Company and its successors and permitted assigns and the Holders and their respective successors and permitted assigns (whether
so expressed or not).

 

(f)    Notices.
Any notice, demand or other communication to be given under or by reason of the provisions of this Agreement will be in writing
and will be deemed to have been given (i) when delivered personally to the recipient, (ii) when sent by confirmed electronic
mail or facsimile if sent during normal business hours of the recipient; but if not, then on the next Business Day (provided
that any such notice under this clause (ii) will not be effective unless within one Business Day after the notice is
sent, a copy of such notice is sent to the recipient by first-class mail, return receipt requested, or reputable overnight courier
service (charges prepaid)), (iii) one Business Day after it is sent to the recipient by reputable overnight courier service
(charges prepaid) or (iv) three Business Days after it is mailed to the recipient by first class mail, return receipt requested.
Such notices, demands and other communications will be sent to the Company at the address specified on the signature page hereto
or any Joinder and to any holder, or at such address or to the attention of such other Person as the recipient party has specified
by prior written notice to the sending party. Any party may change such party’s address for receipt of notice by giving
prior written notice of the change to the sending party as provided herein. The Company’s address is:

 

InnovAge Holding Corp.

8950 E. Lowry Boulevard

Denver, Colorado 80230

Attn: Chief Legal Officer

E-mail: [***]@myinnovage.com

 

With a copy to:

 

Kirkland & Ellis LLP

300 N. LaSalle

Chicago, Illinois 60654

Attn: Robert Hayward, P.C.

           Robert Goedert, P.C.

Facsimile: 312-862-2200

 

or to such other address or to the attention
of such other person as the recipient party has specified by prior written notice to the sending party.

 

(g)   Business
Days. If any time period for giving notice or taking action hereunder expires on a day that is not a Business Day, the time
period will automatically be extended to the Business Day immediately following such Saturday, Sunday or legal holiday.

 

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(h)   Governing
Law. The corporate law of the State of Delaware will govern all issues and questions concerning the relative rights of the
Company and its equityholders. All issues and questions concerning the construction, validity, interpretation and enforcement
of this Agreement and the exhibits and schedules hereto will be governed by, and construed in accordance with, the laws of the
State of Delaware, without giving effect to any choice of law or conflict of law rules or provisions (whether of the State
of Delaware or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of
Delaware.

 

(i)    MUTUAL
WAIVER OF JURY TRIAL. AS A SPECIFICALLY BARGAINED FOR INDUCEMENT FOR EACH OF THE PARTIES HERETO TO ENTER INTO THIS AGREEMENT
(AFTER HAVING THE OPPORTUNITY TO CONSULT WITH COUNSEL), EACH PARTY HERETO EXPRESSLY WAIVES THE RIGHT TO TRIAL BY JURY IN ANY LAWSUIT
OR PROCEEDING RELATING TO OR ARISING IN ANY WAY FROM THIS AGREEMENT OR THE MATTERS CONTEMPLATED HEREBY.

 

(j)     CONSENT
TO JURISDICTION AND SERVICE OF PROCESS. EACH OF THE PARTIES IRREVOCABLY SUBMITS TO THE NON-EXCLUSIVE JURISDICTION OF THE UNITED
STATES DISTRICT COURT FOR THE DISTRICT OF DELAWARE FOR THE PURPOSES OF ANY SUIT, ACTION OR OTHER PROCEEDING ARISING OUT OF THIS
AGREEMENT, ANY RELATED AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY OR THEREBY. EACH OF THE PARTIES HERETO FURTHER AGREES
THAT SERVICE OF ANY PROCESS, SUMMONS, NOTICE OR DOCUMENT BY U.S. REGISTERED MAIL TO SUCH PARTY’S RESPECTIVE ADDRESS SET
FORTH ABOVE WILL BE EFFECTIVE SERVICE OF PROCESS FOR ANY ACTION, SUIT OR PROCEEDING WITH RESPECT TO ANY MATTERS TO WHICH IT HAS
SUBMITTED TO JURISDICTION IN THIS PARAGRAPH. EACH OF THE PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY OBJECTION TO
THE LAYING OF VENUE OF ANY ACTION, SUIT OR PROCEEDING ARISING OUT OF THIS AGREEMENT, ANY RELATED DOCUMENT OR THE TRANSACTIONS
CONTEMPLATED HEREBY AND THEREBY IN THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF DELAWARE, AND HEREBY AND THEREBY FURTHER
IRREVOCABLY AND UNCONDITIONALLY WAIVES AND AGREES NOT TO PLEAD OR CLAIM IN ANY SUCH COURT THAT ANY SUCH ACTION, SUIT OR PROCEEDING
BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM.

 

(k)   No
Recourse. Notwithstanding anything to the contrary in this Agreement, the Company and each Holder agrees and acknowledges
that no recourse under this Agreement or any documents or instruments delivered in connection with this Agreement, will be had
against any current or future director, officer, employee, general or limited partner or member of any Holder or any Affiliate
or assignee thereof, whether by the enforcement of any assessment or by any legal or equitable proceeding, or by virtue of any
statute, regulation or other applicable law, it being expressly agreed and acknowledged that no personal liability whatsoever
will attach to, be imposed on or otherwise be incurred by any current or future officer, agent or employee of any Holder or any
current or future member of any Holder or any current or future director, officer, employee, partner or member of any Holder or
of any Affiliate or assignee thereof, as such for any obligation of any Holder under this Agreement or any documents or instruments
delivered in connection with this Agreement for any claim based on, in respect of or by reason of such obligations or their creation.

 

(l)   Descriptive
Headings; Interpretation. The descriptive headings of this Agreement are inserted for convenience only and do not constitute
a part of this Agreement. The use of the word “including” in this Agreement will be by way of example rather than
by limitation.

 

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(m) No
Strict Construction. The language used in this Agreement will be deemed to be the language chosen by the parties hereto to
express their mutual intent, and no rule of strict construction will be applied against any party.

 

(n)  Counterparts.
This Agreement may be executed in multiple counterparts, any one of which need not contain the signature of more than one party,
but all such counterparts taken together will constitute one and the same agreement.

 

(o) Electronic
Delivery. This Agreement, the agreements referred to herein, and each other agreement or instrument entered into in connection
herewith or therewith or contemplated hereby or thereby, and any amendments hereto or thereto, to the extent executed and delivered
by means of a photographic, photostatic, facsimile or similar reproduction of such signed writing using a facsimile machine or
electronic mail will be treated in all manner and respects as an original agreement or instrument and will be considered to have
the same binding legal effect as if it were the original signed version thereof delivered in person. At the request of any party
hereto or to any such agreement or instrument, each other party hereto or thereto will re-execute original forms thereof and deliver
them to all other parties. No party hereto or to any such agreement or instrument will raise the use of a facsimile machine or
electronic mail to deliver a signature or the fact that any signature or agreement or instrument was transmitted or communicated
through the use of a facsimile machine or electronic mail as a defense to the formation or enforceability of a contract and each
such party forever waives any such defense.

 

(p)  Further
Assurances. In connection with this Agreement and the transactions contemplated hereby, each Holder agrees to execute and
deliver any additional documents and instruments and perform any additional acts that may be necessary or appropriate to effectuate
and perform the provisions of this Agreement and the transactions contemplated hereby.

 

(q) Dividends,
Recapitalizations, Etc. If at any time or from time to time there is any change in the capital structure of the Company by
way of a stock split, stock dividend, combination or reclassification, or through a merger, consolidation, reorganization or recapitalization,
or by any other means, appropriate adjustment will be made in the provisions hereof so that the rights and privileges granted
hereby will continue.

 

(r)   No
Third-Party Beneficiaries. No term or provision of this Agreement is intended to be, or shall be, for the benefit of any Person
not a party hereto, and no such other Person shall have any right or cause of action hereunder, except as otherwise expressly
provided herein.

 

(s)  Current
Public Information. At all times after the Company has filed a registration statement with the SEC pursuant to the requirements
of either the Securities Act or the Exchange Act, the Company will file all reports required to be filed by it under the Securities
Act and the Exchange Act and will take such further action as the Sponsor Investors may reasonably request, all to the extent
required to enable such Holders to sell Registrable Securities pursuant to Rule 144.

 

* * * * *

 

    -18-

     

    

 

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

 

	 	INNOVAGE HOLDING CORP.

 

	 	By:	/s/Maureen Hewitt

	 	Name:
	 Maureen Hewitt

                                                         

	 	Title:	 President
	 	 
	 	SPONSOR INVESTORS:
	 	 
	 	TCO GROUP HOLDINGS, L.P.
	 	 
	 	By: TCO GROUP HOLDINGS GP, LLC, its general partner

 

	 	By:	/s/Thomas Scully

	 	Name:	Thomas Scully
	 	Title:	 President

 

	 	Address:	c/o Welsh, Carson, Anderson & Stowe
	 	 	599 Lexington Avenue, Suite 1800
	 	 	New York, New York 10022

 

	 	By:	/s/Andrew Cavanna

	 	Name:	 Andrew Cavanna
	 	Title:	 President

 

	 	Address:	 c/o Apax Partners, L.P.
	 	 	601 Lexington Avenue, 53rd Floor
	 	 	New York, New York 10022

 

[Signature
Page to Registration Rights Agreement]

 

     

     

    

 

EXHIBIT A

 

DEFINITIONS

 

Capitalized terms used
in this Agreement have the meanings set forth below.

 

“Affiliate”
of any Person means any other Person controlled by, controlling or under common control with such Person and, in the case of an
individual, also includes any member of such individual’s Family Group; provided that the Company and its Subsidiaries
will not be deemed to be Affiliates of any holder of Registrable Securities. As used in this definition, “control”
(including, with its correlative meanings, “controlling,” “controlled by” and “under common control
with”) will mean possession, directly or indirectly, of power to direct or cause the direction of management or policies
(whether through ownership of securities, by contract or otherwise).

 

“Agreement”
has the meaning set forth in the recitals.

 

“Automatic
Shelf Registration Statement” has the meaning set forth in Section 1(a).

 

“Business Day”
means a day that is not a Saturday or Sunday or a day on which banks in New York City are authorized or requested by law to close.

 

“Charitable
Gifting Event” means any transfer by a Sponsor Investor, or any subsequent transfer by such holder’s members,
partners or other employees, in connection with a bona fide gift to any Charitable Organization on the date of, but prior to,
the execution of the underwriting agreement entered into in connection with any underwritten offering.

 

“Charitable
Organization” means a charitable organization as described by Section 501(c)(3) of the Internal Revenue
Code of 1986, as in effect from time to time.

 

“Common Equity”
means the Company’s common stock, par value $0.001 per share

 

“Company”
has the meaning set forth in the preamble and shall include its successor(s).

 

“Demand Registrations”
has the meaning set forth in Section 1(a).

 

“End of Suspension
Notice” has the meaning set forth in Section 1(f)(ii).

 

“Exchange Act”
means the Securities Exchange Act of 1934, as amended from time to time, or any successor federal law then in force, together
with all rules and regulations promulgated thereunder.

 

“Excluded Registration”
means any registration (i) pursuant to a Demand Registration (which is addressed in Section 1(a)), or (ii) in
connection with registrations on Form S-4 or S-8 promulgated by the SEC or any successor or similar forms.

 

“Family Group”
means with respect to any individual, such individual’s current or former spouse, their respective parents, descendants
of such parents (whether natural or adopted) and the spouses of such descendants, any trust, limited partnership, corporation
or limited liability company established solely for the benefit of such individual or such individual’s current or former
spouse, their respective parents, descendants of such parents (whether natural or adopted) or the spouses of such descendants.

 

“FINRA”
means the Financial Industry Regulatory Authority.

 

    A-1

     

    

 

“Free Writing
Prospectus” means a free-writing prospectus, as defined in Rule 405.

 

“Holdback Period”
has the meaning set forth in Section 3(a).

 

“Holder”
means a holder of Registrable Securities who is a party to this Agreement (including by way of Joinder).

 

“Indemnified
Parties” has the meaning set forth in Section 6(a).

 

“Joinder”
has the meaning set forth in Section 9(a).

 

“Long-Form Registrations”
has the meaning set forth in Section 1(a).

 

“Losses”
has the meaning set forth in Section 6(c).

 

“Other Investor
Registrable Securities” means (i) any Common Equity held (directly or indirectly) by any Other Investors or any
of their Affiliates, and (ii) any equity securities of the Company or any Subsidiary issued or issuable with respect to the
securities referred to in clause (i) above by way of dividend, distribution, split or combination of securities, or
any recapitalization, merger, consolidation or other reorganization.

 

“Other Investors”
has the meaning set forth in the recitals.

 

“Participating
Sponsor Investors” means any Sponsor Investor(s) participating in the request for a Demand Registration, Shelf
Offering, Piggyback Registration or Underwritten Block Trade.

 

“Person”
means an individual, a partnership, a corporation, a limited liability company, 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
Registrations” has the meaning set forth in Section 2(a).

 

“Public Offering”
means any sale or distribution by the Company, one of its Subsidiaries and/or Holders to the public of Common Equity or other
securities convertible into or exchangeable for Common Equity pursuant to an offering registered under the Securities Act.

 

“Qualified
Independent Underwriter” has the meaning set forth by FINRA in Section 5121(f)(12), or any successor provision
thereto.

 

“Registrable
Securities” means Sponsor Investor Registrable Securities and Other Investor Registrable Securities. As to any particular
Registrable Securities, such securities will cease to be Registrable Securities when they have been (a) sold or distributed
pursuant to a Public Offering, (b) sold in compliance with Rule 144 following the consummation of the initial Public
Offering, (c) distributed to the direct or indirect partners or members of a Sponsor Investor or (d) repurchased by
the Company or a Subsidiary of the Company. For purposes of this Agreement, a Person will be deemed to be a holder of Registrable
Securities, and the Registrable Securities will be deemed to be in existence, whenever such Person has the right to acquire, directly
or indirectly, such Registrable Securities (upon conversion or exercise in connection with a transfer of securities or otherwise,
but disregarding any restrictions or limitations upon the exercise of such right), whether or not such acquisition has actually
been effected, and such Person will be entitled to exercise the rights of a holder of Registrable Securities hereunder (it being
understood that a holder of Registrable Securities may only request that Registrable Securities in the form of Common Equity be
registered pursuant to this Agreement). Notwithstanding the foregoing, following the consummation of an initial Public Offering,
any Registrable Securities held by any Person (other than any Sponsor Investor or its Affiliates) that may be sold under Rule 144(b)(1)(i) without
limitation under any of the other requirements of Rule 144 will be deemed not to be Registrable Securities.

 

    A-2

     

    

 

“Registration
Expenses” has the meaning set forth in Section 5.

 

“Rule 144,”
 “Rule 158,” “Rule 405” and “Rule 415” mean, in each case,
such rule promulgated under the Securities Act (or any successor provision) by the SEC, as the same will be amended from
time to time, or any successor rule then in force.

 

“Sale of the
Company” means any transaction or series of transactions pursuant to which any Person(s) or a group of related
Persons (other than any Sponsor Investor and/or its Affiliates) in the aggregate acquires: (i)  Common Equity of the Company
entitled to vote (other than voting rights accruing only in the event of a default, breach, event of noncompliance or other contingency)
to elect directors with a majority of the voting power of the Company’s board of directors (whether by merger, consolidation,
reorganization, combination, sale or transfer of the Company’s Common Equity) or (ii) all or substantially all of the
Company’s and its Subsidiaries’ assets determined on a consolidated basis; provided that a Public Offering
will not constitute a Sale of the Company.

 

“Sale Transaction”
has the meaning set forth in Section 3(a).

 

“SEC”
means the United States Securities and Exchange Commission.

 

“Securities”
has the meaning set forth in Section 3(a).

 

“Securities
Act” means the Securities Act of 1933, as amended from time to time, or any successor federal law then in force, together
with all rules and regulations promulgated thereunder.

 

“Shelf Offering”
has the meaning set forth in Section 1(d)(i).

 

“Shelf Offering
Notice” has the meaning set forth in Section 1(d)(i).

 

“Shelf Registrable
Securities” has the meaning set forth in Section 1(d)(i).

 

“Shelf Registration”
has the meaning set forth in Section 1(a).

 

“Shelf Registration
Statement” has the meaning set forth in Section 1(d).

 

“Short-Form Registrations”
has the meaning set forth in Section 1(a).

 

“Sponsor Investor
Registrable Securities” means (i) any Common Equity held (directly or indirectly) by any Sponsor Investor or any
of its Affiliates, and (ii) any equity securities of the Company or any Subsidiary issued or issuable with respect to the
securities referred to in clause (i) above by way of dividend, distribution, split or combination of securities, or
any recapitalization, merger, consolidation or other reorganization.

 

“Sponsor Investors”
has the meaning set forth in the recitals; provided that any decision to be made under this Agreement by the Sponsor Investors
shall be made by the holders of a majority of all Sponsor Investor Registrable Securities

 

    A-3

     

    

 

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

 

“Suspension
Event” has the meaning set forth in Section 1(f)(ii).

 

“Suspension
Notice” has the meaning set forth in Section 1(f)(ii).

 

“Suspension
Period” has the meaning set forth in Section 1(f)(i).

 

“Violation”
has the meaning set forth in Section 6(a).

 

“WKSI”
means a “well-known seasoned issuer” as defined under Rule 405.

 

    A-4

     

    

 

EXHIBIT B

 

The undersigned is executing
and delivering this Joinder pursuant to the Registration Rights Agreement dated as of March 8, 2021 (as amended, modified
and waived from time to time, the “Registration Agreement”), among InnovAge Holding Corp., a Delaware corporation
(the “Company”), and the other persons named as parties therein (including pursuant to other Joinders). Capitalized
terms used herein have the meaning set forth in the Registration Agreement.

 

By executing and delivering
this Joinder to the Company, the undersigned hereby agrees to become a party to, to be bound by, and to comply with the provisions
of, the Registration Agreement as a Holder in the same manner as if the undersigned were an original signatory to the Registration
Agreement, and the undersigned will be deemed for all purposes to be a Holder, a[n] [Sponsor Investor // Other Investor thereunder]
and the undersigned’s ____ shares of Common Equity will be deemed for all purposes to be [Sponsor Investor // Other Investor]
Registrable Securities under the Registration Agreement.

 

Accordingly, the undersigned
has executed and delivered this Joinder as of the ___ day of ____________, 20___.

 

	 	
	 	Signature
	 	 
	 	Print Name
	 	 
	 	Address:	 
	 	 
	 	 

 

	Agreed and Accepted as of	 
	 	 
	________________, 20___:	 
	 	 
	INNOVAGE HOLDING CORP.	 

 

	By:	 	 
	 	 
	Its:	 	 

 

    B-1Exhibit 10.1

 

Director
NOMINATION Agreement

 

THIS Director
NOMINATION Agreement (this “Agreement”) is made and entered into as of March 8, 2021, by and among
InnovAge Holding Corp., a Delaware corporation (the “Company”), Ignite Aggregator LP, a Delaware limited
partnership (together with its affiliated investment entities, “Apax Partners”), Welsh, Carson, Anderson &
Stowe XII, L.P., Welsh, Carson, Anderson & Stowe XII Delaware, L.P., Welsh, Carson, Anderson & Stowe XII Delaware
II, L.P., Welsh, Carson, Anderson & Stowe XII Cayman, L.P., WCAS XII Co-Investors LLC, WCAS Management Corporation and
WCAS Co-Invest Holdco, L.P. (together with Welsh, Carson, Anderson & Stowe XII, L.P., Welsh, Carson, Anderson &
Stowe XII Delaware, L.P., Welsh, Carson, Anderson & Stowe XII Delaware II, L.P., Welsh, Carson, Anderson & Stowe
XII Cayman, L.P., WCAS XII Co-Investors LLC, WCAS Management Corporation, “WCAS” and, together with Apax Partners,
the “Sponsors”). This Agreement shall become effective (the “Effective Date”) upon the closing
of the Company’s initial public offering (the “IPO”) of shares of its common stock, par value $0.001 per
share (the “Common Stock”).

 

WHEREAS, as of the
date hereof, the Sponsors collectively own a majority of the outstanding equity interests of TCO Group Holdings, L.P.;

 

WHEREAS, the Sponsors
are contemplating causing the Company to effect the IPO;

 

WHEREAS, in consideration
of the Sponsors agreeing to undertake the IPO, the Company has agreed to permit the Sponsors to designate persons for nomination
for election to the board of directors of the Company (the “Board”) following the Effective Date on the terms
and conditions set forth herein;

 

NOW, THEREFORE, in
consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, each of the parties to this Agreement agrees as follows:

 

		1.	Board Nomination Rights.

 

		(a)	From the Effective Date, the Sponsors have the right to designate (i) all of the nominees for election to the Board for
so long as the Sponsors collectively beneficially own at least 40% of the total number of shares of the Company’s Common
Stock collectively beneficially owned by the Sponsors upon completion of the IPO (including the underwriters’ exercise of
any option to purchase additional shares contemplated on the cover page of the prospectus relating to the IPO), as adjusted
for any reorganization, recapitalization, stock dividend, stock split, reverse stock split or similar changes in the Company’s
capitalization (the “Original Amount”); (ii) 40% of the nominees for election to the Board for so long
as the Sponsors collectively beneficially own less than 40% but at least 30% of the Original Amount; (iii) 30% of the nominees
for election to the Board for so long as the Sponsors collectively beneficially own less than 30% but at least 20% of the Original
Amount; (iv) 20% of the nominees for election to the Board for so long as the Sponsors collectively beneficially own less
than 20% but at least 10% of the Original Amount; and (v) one (1) of the nominees for election to the Board for so long
as the Sponsors collectively beneficially own at least 5% of the Original Amount (such persons, the “Nominees”).
If TCO Group Holdings, L.P. is dissolved after IPO, then each of Apax Partners and WCAS will be permitted to nominate (A) up
to three (3) Directors (as defined below) so long as it owns at least 25% of the Original Amount, (B) up to two (2) Directors
so long as it owns at least 15% of the Original Amount and (C) one (1) Director so long as it owns at least 5% of the
Original Amount. The Sponsors may assign such nomination rights to their Affiliates (as defined below).

 

     

     

    

 

		(b)	In the event that any Sponsor has nominated less than the total number of designees that such Sponsor shall be entitled to
nominate pursuant to Section 1(a), such Sponsor shall have the right, at any time, to nominate such additional designees
to which it is entitled, in which case, the Company and the Directors shall take all necessary corporation action, to the fullest
extent permitted by applicable law (including with respect to fiduciary duties under Delaware law), to (x) enable such Sponsor
to nominate and effect the election or appointment of such additional individuals, whether by increasing the size of the Board,
or otherwise and (y) to designate such additional individuals nominated by such Sponsor to fill such newly created vacancies
or to fill any other existing vacancies.

 

		(c)	The Company shall pay all reasonable out-of-pocket expenses incurred by any Nominee in connection with the performance of his
or her duties as a Director and in connection with his or her attendance at any meeting of the Board.

 

		(d)	“Beneficially Own” shall mean that a specified person has or shares the right, directly or indirectly, through
any contract, arrangement, understanding, relationship or otherwise, to vote shares of capital stock of the Company. “Affiliate”
of any person shall mean any other person controlled by, controlling or under common control with such person; where “control”
(including, with its correlative meanings, “controlling,” “controlled by” and “under
common control with”) means possession, directly or indirectly, of power to direct or cause the direction of management
or policies (whether through ownership of securities, by contract or otherwise).

 

		(e)	“Director” means any member of the Board.

 

		(f)	No reduction in the number of shares of Common Stock that each Sponsor Beneficially Owns shall shorten the term of any incumbent
Director. At the Effective Date, the Board shall be comprised of ten (10) members and the initial members shall be Maureen
Hewitt, John Ellis Bush, Andrew Cavanna, Caroline Dechert, Edward Kennedy, Jr., Pavithra Mahesh, Thomas Scully, Marilyn Tavenner,
Sean Traynor and Richard Zoretic. Andrew Cavanna and Pavithra Mahesh shall constitute the “Apax Nominees” and Caroline
Dechert, Thomas Scully and Sean Traynor shall constitute the “WCAS Nominees.” The Sponsors may change the respective
individuals designated as such Apax Nominees and WCAS Nominees by providing notice to the Company.

 

    2 

     

    

 

		(g)	In the event that any Nominee shall cease to serve for any reason, the Sponsor that nominated such Nominee shall be entitled
to designate such person’s successor in accordance with this Agreement (regardless of each Sponsor’s Beneficial Ownership
of Common Stock at the time of such vacancy) and the Board shall promptly fill the vacancy with such successor nominee; it being
understood that any such designee shall serve the remainder of the term of the Director whom such designee replaces.

 

		(h)	If a Nominee is not appointed or elected to the Board because of such person’s death, disability, disqualification, withdrawal
as a Nominee or for other reason is unavailable or unable to serve on the Board, the applicable Sponsor shall be entitled to designate
promptly another Nominee and the director position for which the original Nominee was nominated shall not be filled pending such
designation.

 

		(i)	So long as a Sponsor has the right to nominate at least one Nominee under this Section 1 or any such Nominee is
serving on the Board, the Company shall maintain in effect at all times directors and officers indemnity insurance coverage reasonably
satisfactory to the Sponsors, and the Company’s Amended and Restated Certificate of Incorporation and Bylaws (each as may
be further amended, supplemented or waived in accordance with its terms) shall at all times provide for indemnification, exculpation
and advancement of expenses to the fullest extent permitted under applicable law.

 

		(j)	At any time that a Sponsor shall have any nomination rights under this Section 1, the Company shall not increase
or decrease the number of Directors serving on the Board without the prior written consent of the Sponsors having such rights.

 

		(k)	At such time as the Company ceases to be a “controlled company” and is required by applicable law or Nasdaq (the
 “Exchange”) listing standards to have a majority of the Board comprised of “independent directors”
(subject in each case to any applicable phase-in periods), the Nominees shall include a number of persons that qualify as “independent
directors” under applicable law and the Exchange listing standards such that, together with any other “independent
directors” then serving on the Board that are not Nominees, the Board is comprised of a majority of “independent directors”;
provided that at any time that a Sponsor shall have any nomination rights under this Section 1, (i) each
such Sponsor shall be entitled to nominate at least one (1) Nominee who does not qualify as an “independent director”
and (ii) the number of “independent directors” required to be nominated by any Sponsor pursuant to this provision
shall not be greater than the number of Nominees required to be “independent directors” pursuant to this provision
to be nominated by any other Sponsor with the right to nominate the same number of, or more, Nominees as such Sponsor; provided,
however, in the event that the number of required “independent directors” is odd, the Sponsors agree to work
in good faith to collectively nominate one such “independent director;” provided, further, however,
that to the extent a mutually agreeable “independent director” cannot be agreed upon, that the Board shall have the
right to expand its size by one and to nominate and appoint such required “independent director” to fill the resulting
vacancy, provided that such nominee is acceptable to each Sponsor.

 

    3 

     

    

 

		(l)	At any time that a Sponsor shall have any nomination rights under this Section 1, the Company shall not take any
action, including making or recommending any amendment to Company’s Amended and Restated Certificate of Incorporation or
Bylaws (each as may be further amended, supplemented or waived in accordance with its terms) that could reasonably be expected
to adversely affect a Sponsor’s rights under this Agreement, in each case without the prior written consent of the adversely
affected Sponsor.

 

		(m)	Each Sponsor hereby agrees to be present in person or by proxy and vote or cause to be voted all Common Stock Beneficially
Owned by such Sponsor at each annual or special meeting of the Company at which Directors of the Company are to be elected, in
favor of, or to take all actions by written consent in lieu of any such meeting as are necessary, or other necessary action, to
cause the election of the Nominees described in Section 1(a) in accordance with, and otherwise to achieve the
composition of the Board and effect the intent of, the provisions of this Section 1.

 

		(n)	The Company recognizes that Nominees (i) will from time to time receive non-public information concerning the
Company, and (ii) may share such information with other individuals associated with the Sponsor that designated such Nominee.
The Company hereby irrevocably consents to such sharing. Each Sponsor agrees that it will keep confidential and not disclose or
divulge to any third party any confidential information regarding the Company it receives from the Company or a Nominee, unless
such information (x) is known or becomes known to the public in general, (y) is or has been independently developed or
conceived by such Sponsor without use of the Company’s confidential information or (z) is or has been made known or
disclosed to such Sponsor by a third party without a breach of any obligation of confidentiality such third party may have; provided,
however, that a Sponsor may disclose confidential information (I) to its Affiliates (other than portfolio companies),
(II) to each of its and its Affiliate’s (other than portfolio companies) attorneys, accountants, consultants, advisors
and other professionals to the extent necessary to obtain their services in connection with evaluating the information, or (III) as
may be required by law or legal, judicial or regulatory process or requested by any regulatory or self-regulatory authority or
examiner, provided that such Sponsor takes reasonable steps to minimize the extent of any required disclosure described
in this clause (III).

 

    4 

     

    

 

2.     Company
Obligations. The Company agrees that prior to the date that each Sponsor and its Affiliates cease to Beneficially Own shares
of Common Stock representing at least 5% of the Original Amount, (i) each Nominee is included in the Board’s slate of
nominees to the stockholders (the “Board’s Slate”) for each election of Directors; and (ii) each
Nominee is included in the proxy statement prepared by management of the Company in connection with soliciting proxies for every
meeting of the stockholders of the Company called with respect to the election of members of the Board (each, a “Director
Election Proxy Statement”), and at every adjournment or postponement thereof, and on every action or approval by written
consent of the stockholders of the Company or the Board with respect to the election of members of the Board. Each Sponsor will
promptly report to the Company after such Sponsor ceases to Beneficially Own shares of Common Stock representing at least 5% of
the total voting power of the Original Amount, such that Company is informed of when this obligation terminates. The calculation
of the number of Nominees that each Sponsor is entitled to nominate to the Board’s Slate for any election of Directors shall
be based on the percentage of the Original Amount Beneficially Owned by each Sponsor immediately prior to the mailing to shareholders
of the Director Election Proxy Statement relating to such election (or, if earlier, the filing of the definitive Director Election
Proxy Statement with the U.S. Securities and Exchange Commission). Unless a Sponsor notifies the Company otherwise prior to the
mailing to shareholders of the Director Election Proxy Statement relating to an election of Directors, the Nominees for such election
shall be presumed to be the same Nominees currently serving on the Board, and no further action shall be required of any Sponsor
for the Board to include such Nominees on the Board’s Slate; provided that, in the event a Sponsor is no longer entitled
to nominate the full number of Nominees then serving on the Board, such Sponsor shall provide advance written notice to the Company,
of which currently servicing Nominee(s) shall be excluded from the Board’s Slate, and of any other changes to the list
of Nominees. If a Sponsor fails to provide such notice prior to the mailing to shareholders of the Director Election Proxy Statement
relating to such election (or, if earlier, the filing of the definitive Director Election Proxy Statement with the U.S. Securities
and Exchange Commission), a majority of the independent directors then serving on the Board shall determine which of the Nominees
of such Sponsor then serving on the Board will be included in the Board’s Slate. Furthermore, the Company agrees for so long
as the Company qualifies as a “controlled company” under the rules of the Exchange the Company will elect to be
a “controlled company” for purposes of the Exchange and will disclose in its annual meeting proxy statement that it
is a “controlled company” and the basis for that determination. The Company and the Sponsors acknowledge and agree
that, as of the Effective Date, the Company is a “controlled company.” The Company agrees to provide written notice
of the preparation of a Director Election Proxy Statement to the Sponsors at least 20 business days, but no more than 40 business
days, prior to the earlier of the mailing and the filing date of any Director Election Proxy Statement.

 

		3.	Governance.

 

		(a)	Protective Provisions. Notwithstanding any other provision of this Agreement and to the fullest extent permitted by
applicable law, in addition to the approval of the Directors, the following actions described in this Section 3(a) (collectively,
the “Consent Matters”) shall require the prior written consent of Apax Partners and/or WCAS as set out below:

 

		i.	none of the following actions shall be taken by the Company, including any proposal by the Board to be put to the vote of the
stockholders of the Company with respect thereto, without (A) the prior written consent of Apax Partners for so long as Apax
Partners owns at least 5% of the Original Amount and (B) the prior written consent of WCAS for so long as WCAS owns at least
5% of the Original Amount (except as set forth in the proviso in Section 3(a)(I)):

 

    5 

     

    

 

		I.	amending, altering or changing, or waiving any rights under, this Agreement, the organizational documents, including the Amended
and Restated Certificate of Incorporation or the Bylaws of the Company, (which shall also be subject to Section 5)
and/or the organizational documents of any subsidiary of the Company; provided that, notwithstanding the foregoing, for
so long as Apax Partners or WCAS, as applicable, own any outstanding Common Stock, any amendment, alteration, or change to, or
waiver under, other organizational documents, including the Amended and Restated Certificate of Incorporation or the Bylaws of
the Company, and/or the organizational documents of any subsidiary of the Company that would adversely affect in any respect any
rights specific to Apax Partners or WCAS shall (subject to applicable law) require the written consent of Apax Partners or WCAS,
as applicable;

 

		II.	authorizing or issuing any equity securities of the Company having rights, preferences or privileges that are superior or senior
to the outstanding Common Stock (or any securities convertible or exchangeable therefor pursuant to their terms);

 

		III.	any transaction with any stockholder or Affiliate of a stockholder or any Director or officer of the Company or any of its
subsidiaries (other than employment agreements with officers not otherwise affiliated with a stockholder);

 

		IV.	winding up the Company; and

 

		V.	entering into any agreement with respect to the matters described in the foregoing clauses (I) through (IV) or taking
any such action indirectly.

 

    6 

     

    

 

		ii.	none of the following actions shall be taken by the Company, including any proposal by the Board to be put to the vote of the
stockholders of the Company with respect thereto, without (A) the prior written consent of Apax Partners for so long as Apax
Partners owns at least 20% of the Original Amount and (B) the prior written consent of WCAS for so long as WCAS owns at least
20% of the Original Amount:

 

		I.	the declaration or payment of any dividend or other distribution to the stockholders by the Company or redemption, repurchase
or exchange (as applicable) of any equity securities of the Company;

 

		II.	issuing or granting any equity securities of the Company or its subsidiaries, other than grants under the Company’s 2021
Omnibus Incentive Plan;

 

		III.	engaging in any mergers, acquisitions, business combinations or similar transactions or entering into any arrangements or agreements
relating to joint ventures or strategic partnerships with a value of such transaction or arrangement exceeding $10.0 million; and

 

		IV.	entry by the Company into any agreement with respect to the matters described in the foregoing clauses (I) through (III) or
taking any such action indirectly.

 

4.     Committees.
From and after the Effective Date hereof until such time as each Sponsor and its Affiliates cease to Beneficially Own Common Stock
representing at least 5% of the Original Amount, each Sponsor shall have the right to designate one member of each committee of
the Board, provided that any such designee shall be a Director and shall be eligible to serve on the applicable committee
under applicable law or listing standards of the Exchange, including any applicable independence requirements (subject in each
case to any applicable exceptions, including those for newly public companies and for “controlled companies,” and any
applicable phase-in periods). Any additional members shall be determined by the Board. Nominees designated to serve on a Board
committee shall have the right to remain on such committee until the next election of Directors, regardless of the number of shares
of Common Stock the Sponsor Beneficially Owns following such designation. Unless a Sponsor notifies the Company otherwise prior
to the time the Board takes action to change the composition of a Board committee, and to the extent the applicable Sponsor Beneficially
Owns the requisite percentage of the Original Amount for such Sponsor to nominate a Board committee member at the time the Board
takes action to change the composition of any such Board committee, any Nominee currently designated by the applicable Sponsor
to serve on a committee shall be presumed to be re-designated for such committee.

 

    7 

     

    

 

5.     Amendment
and Waiver. Any provision of this Agreement may be amended or waived if, but only if, such amendment or waiver is in writing
and is signed, in the case of an amendment, by the Company and each Sponsor owning at least 5% of the Original Amount, or in the
case of a waiver, by the party against whom the waiver is to be effective. No failure or delay by any party in exercising any right,
power or privilege hereunder shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other
or further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies herein provided shall
be cumulative and not exclusive of any rights or remedies provided by law. The Sponsors shall not be obligated to nominate all
(or any) of the Nominees they are entitled to nominate pursuant to this Agreement for any election of Directors but the failure
to do so shall not constitute a waiver of their rights hereunder with respect to future elections; provided, however,
that in the event a Sponsor fails to nominate all (or any) of the Nominees it is entitled to nominate pursuant to this Agreement
prior to the mailing to shareholders of the Director Election Proxy Statement relating to such election (or, if earlier, the filing
of the definitive Director Election Proxy Statement with the U.S. Securities and Exchange Commission), the Compensation, Nominating
and Governance Committee of the Board shall be entitled to nominate individuals in lieu of such Nominees for inclusion in the Board’s
Slate and the applicable Director Election Proxy Statement with respect to the election for which such failure occurred and such
Sponsor shall be deemed to have waived its rights hereunder with respect to such election; provided, further, however,
that any such waiver shall only be effective if the Company has provided written notice to such Sponsor of such Director Election
Proxy Statement no less than 20 business days, and no more than 40 business days, prior to the earlier of the mailing or filing
date of such Director Election Proxy Statement. The rights and remedies herein provided shall be cumulative and not exclusive of
any rights or remedies provided by law.

 

6.     Benefit
of Parties. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective
permitted successors and assigns. Notwithstanding the foregoing, the Company may not assign any of its rights or obligations hereunder
without the prior written consent of each Sponsor that Beneficially Own shares of Common Stock representing at least 5% of the
Original Amount. Except as otherwise expressly provided in Section 7, nothing herein contained shall confer or is intended
to confer on any third party or entity that is not a party to this Agreement any rights under this Agreement.

 

7.     Assignment.
Upon written notice to the Company, each Sponsor may assign to any Affiliate (other than a portfolio company) all of its rights
hereunder and, following such assignment, such assignee shall be deemed to be a “Sponsor” for all purposes hereunder.

 

    8 

     

    

 

 

8.             Indemnification.

 

(a)            The
Company shall defend, indemnify and hold harmless the Sponsors, their respective Affiliates, partners, employees, agents, directors,
managers, officers and controlling Persons (collectively, the “Indemnified Parties”) from and against any and
all actions, causes of action, suits, claims, liabilities, losses, damages, costs, expenses, or obligations of any kind or nature
(whether accrued or fixed, absolute or contingent) in connection therewith (including reasonable attorneys’ fees and expenses)
incurred by the Indemnified Parties before or after the date of this Agreement (each, an “Action”) arising directly
or indirectly out of, or in any way relating to, (i) any Sponsor’s or its respective Affiliates’ Beneficial Ownership
of Common Stock or other equity securities of the Company or control or ability to influence the Company or any of its subsidiaries
(other than any such Actions (x) to the extent such Actions arise out of any breach of this Agreement by an Indemnified Party
or its Affiliates or the breach of any fiduciary or other duty or obligation of such Indemnified Party to its direct or indirect
equity holders, creditors or Affiliates or (y) to the extent such Actions are directly caused by such Person’s willful
misconduct), (ii) the business, operations, properties, assets or other rights or liabilities of the Company or any of its
subsidiaries or (iii) any services provided prior, on or after the date of this Agreement by any Sponsor or its respective
Affiliates to the Company or any of its subsidiaries. The Company shall defend at its own cost and expense in respect of any Action
which may be brought against the Company and/or its Affiliates and the Indemnified Parties. The Company shall defend at its own
cost and expense any and all Actions which may be brought in which the Indemnified Parties may be impleaded with others upon any
Action by the Indemnified Parties, except that if such damage shall be proven to be the direct result of gross negligence, bad
faith or willful misconduct by any of the Indemnified Parties, then such Indemnified Party shall reimburse the Company for the
costs of defense and other costs incurred by the Company in proportion to such Indemnified Party’s culpability as proven.
In the event of the assertion against any Indemnified Party of any Action or the commencement of any Action, the Company shall
be entitled to participate in such Action and in the investigation of such Action and, after written notice from the Company to
such Indemnified Party, to assume the investigation or defense of such Action with counsel of the Company’s choice at the
Company’s expense; provided, however, that such counsel shall be reasonably satisfactory to the Indemnified
Party. Notwithstanding anything to the contrary contained herein, the Company may retain one firm of counsel to represent all Indemnified
Parties in such Action; provided, however, that the Indemnified Party shall have the right to employ a single firm
of separate counsel (and any necessary local counsel) and to participate in the defense or investigation of such Action and the
Company shall bear the expense of such separate counsel (and local counsel, if applicable), if (x) in the opinion of counsel
to the Indemnified Party use of counsel of the Company’s choice could reasonably be expected to give rise to a conflict of
interest, (y) the Company shall not have employed counsel satisfactory to the Indemnified Party to represent the Indemnified
Party within a reasonable time after notice of the assertion of any such Action or (z) the Company shall authorize the Indemnified
Party to employ separate counsel at the Company’s expense. The Company further agrees that with respect to any Indemnified
Party who is employed, retained or otherwise associated with, or appointed or nominated by, the Sponsors or any of their respective
Affiliates and who acts or serves as a director, officer, manager, fiduciary, employee, consultant, advisor or agent of, for or
to the Company or any of its subsidiaries, that the Company or such subsidiaries, as applicable, shall be primarily liable for
all indemnification, reimbursements, advancements or similar payments (the “Indemnity Obligations”) afforded
to such Indemnified Party acting in such capacity or capacities on behalf or at the request of the Company, whether the Indemnity
Obligations are created by law, organizational or constituent documents, contract (including this Agreement) or otherwise. The
Company hereby agrees that in no event shall the Company or any of its subsidiaries have any right or claim against any Sponsor
for contribution or have rights of subrogation against any Sponsor through an Indemnified Party for any payment made by the Company
or any of its subsidiaries with respect to any Indemnity Obligation. In addition, the Company hereby agrees that in the event that
any Sponsor pay or advance an Indemnified Party any expenses with respect to an Indemnity Obligation, the Company will, or will
cause its subsidiaries to, as applicable, promptly reimburse any such Sponsor, respectively, for such payment or advance upon request;
subject to the receipt by the Company of a written undertaking executed by the Indemnified Party and the Sponsors, as applicable,
that makes such payment or advance to repay any such amounts if it shall ultimately be determined by a court of competent jurisdiction
that such Indemnified Party was not entitled to be indemnified by the Company. The foregoing right to indemnity shall be in addition
to any rights that any Indemnified Party may have at common law or otherwise and shall remain in full force and effect following
the completion or any termination of the engagement. If for any reason the foregoing indemnification is unavailable to any Indemnified
Party or insufficient to hold it harmless as and to the extent contemplated by this Section 8, then the Company shall
contribute to the amount paid or payable by the Indemnified Party as a result of such Action in such proportion as is appropriate
to reflect the relative benefits received by the Company, on the one hand, and the Indemnified Party, as the case may be, on the
other hand, as well as any other relevant equitable considerations.

 

    9

     

    

 

(b)            The
Company hereby acknowledges that the certain of the Indemnified Parties have certain rights to indemnification, advancement of
expenses and/or insurance provided by investment funds managed by Apax Partners and WCAS and certain of their Affiliates (collectively,
the “Fund Indemnitors”). The Company hereby agrees with respect to any indemnification, hold harmless obligation,
expense advancement or reimbursement provision or any other similar obligation whether pursuant to or with respect to this Agreement,
the organizational documents of the Company or any of its subsidiaries or any other agreement, as applicable, (i) that the
Company and its subsidiaries are the indemnitor of first resort (i.e., their obligations to the Indemnified Parties are primary
and any obligation of the Fund Indemnitors to advance expenses or to provide indemnification for claims, expenses or obligations
arising out of the same or similar facts and circumstances suffered by any Indemnified Party are secondary), (ii) that the
Company shall be required to advance the full amount of expenses incurred by any Indemnified Party and shall be liable for the
full amount of all expenses, liabilities, obligations, judgments, penalties, fines, and amounts paid in settlement to the extent
legally permitted and as required by the terms of this Agreement, the organizational documents of the Company or any of its subsidiaries
or any other agreement, as applicable, without regard to any rights any Indemnified Party may have against the Fund Indemnitors,
and (iii) that the Company, on behalf of itself and each of its subsidiaries, irrevocably waives, relinquishes and releases
the Fund Indemnitors from any and all Actions against the Fund Indemnitors for contribution, subrogation or any other recovery
of any kind in respect thereof. The Company further agrees that no advancement or payment by the Fund Indemnitors on behalf of
any Indemnified Party with respect to any Action for which any Indemnified Party has sought indemnification from the Company shall
affect the foregoing and the Fund Indemnitors shall have a right of contribution and/or be subrogated to the extent of such advancement
or payment to all of the rights of recovery of any Indemnified Party against the Company. The Company agrees that the Fund Indemnitors
are express third-party beneficiaries of the terms of this Section 8(b).

 

9.             Headings.
Headings are for ease of reference only and shall not form a part of this Agreement.

 

10.           Governing
Law. This Agreement shall be construed in accordance with and governed by the law of the State of Delaware without giving effect
to the principles of conflicts of laws thereof.

 

11.           Jurisdiction.
Any suit, action or proceeding seeking to enforce any provision of, or based on any matter arising out of or in connection with,
this Agreement may be brought against any of the parties in any federal court located in the State of Delaware or any Delaware
state court, and each of the parties hereby consents to the exclusive jurisdiction of such court (and of the appropriate appellate
courts) in any such suit, action or proceeding and waives any objection to venue laid therein. Process in any such suit, action
or proceeding may be served on any party anywhere in the world, whether within or without the jurisdiction of any such court. Without
limiting the foregoing, each of the parties agrees that service of process upon such party at the address referred to in Section 18,
together with written notice of such service to such party, shall be deemed effective service of process upon such party.

 

    10

     

    

 

12.           WAIVER
OF JURY TRIAL. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING
ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT.

 

13.           Entire
Agreement. This Agreement constitutes the entire agreement among the parties with respect to the subject matter hereof and
supersedes all prior agreements, understandings and negotiations, both written and oral among the parties with respect to the subject
matter hereof.

 

14.           Counterparts;
Effectiveness. This Agreement may be signed in any number of counterparts, each of which shall be deemed an original. This
Agreement shall become effective when each party shall have received a counterpart hereof signed by each of the other parties.
An executed copy or counterpart hereof delivered by facsimile shall be deemed an original instrument.

 

15.           Severability.
If any provision of this Agreement or the application thereof to any person or circumstance shall be invalid or unenforceable to
any extent, the remainder of this Agreement and the application of such provisions to other persons or circumstances shall not
be affected thereby and shall be enforced to the greatest extent permitted by law.

 

16.           Further
Assurances. Each of the parties hereto shall execute and deliver such further instruments and do such further acts and things
as may be required to carry out the intent and purpose of this Agreement.

 

17.           Specific
Performance. Each of the parties hereto agree that irreparable damage would occur if any provision of this Agreement were not
performed in accordance with the terms hereof and that the parties shall be entitled to an injunction or injunctions to prevent
breaches of this Agreement or to enforce specifically the performance of the terms and provisions hereof in any federal or state
court located in the State of Delaware, in addition to any other remedy to which they are entitled at law or in equity.

 

18.           Notices.
All notices, requests and other communications to any party or to the Company shall be in writing (including telecopy or similar
writing) and shall be given,

 

If
to the Company:

 

InnovAge Holding Corp.

8950 E. Lowry Boulevard

Denver, Colorado 80230

Attention: Chief Legal
Officer

 

    11

     

    

 

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

 

Kirkland &
Ellis LLP

300 N. LaSalle

Chicago, IL 60654

Attention: Robert
M. Hayward, P.C.

   Robert E. Goedert,
P.C.

Facsimile: (312) 862-2200

 

If
to any member of Apax Partners or any of its Nominees:

 

c/o Apax Partners, L.P.

601 Lexington Avenue

53rd Floor

New York, New York 10022

Attention: [***]

Email:
[***]@apax.com

 

If
to any member of WCAS or any of its Nominees:

 

c/o Welsh, Carson,
Anderson & Stowe, L.P.

599 Lexington Avenue

Suite 1800

New York, New York
10022

Attention: [***]

Email:
[***]@wcas.com

 

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

 

Kirkland &
Ellis LLP

300 N. LaSalle

Chicago, IL 60654

Attention: Robert
M. Hayward, P.C.

   Robert E. Goedert,
P.C.

Facsimile: (312) 862-2200

 

or to such other address or telecopier
number as such party or the Company may hereafter specify for the purpose by notice to the other parties and the Company. Each
such notice, request or other communication shall be effective when delivered at the address specified in this Section 18
during regular business hours.

 

19.           Enforcement.
Each of the parties hereto covenants and agrees that the disinterested members of the Board have the right to enforce, waive or
take any other action with respect to this Agreement on behalf of the Company.

 

* * * * *

 

    12

     

    

 

IN WITNESS WHEREOF, the parties hereto have
executed this Agreement on the date first above written.

 

	 	INNOVAGE HOLDING CORP.

 

	 	By:	/s/ Vanessa D. Walton

	 	Name: Vanessa D. Walton
	 	Title:    Secretary

 

 

[Signature Page to Director Nomination Agreement]

 

    

     

    

 

	 	ignite aggregator lp

 

	 	By:  Ignite GP Inc., its general partner

 

	 	By:	/s/ Andrew Cavanna

	 	Name:    Andrew Cavanna
	 	Title:      President

 

[Signature Page to Director Nomination Agreement]

 

    

     

    

 

	 	Welsh, Carson, Anderson & Stowe XII, L.P.

 

	 	By: WCAS XII Associates LLC, its general partner

 

	 	By:	/s/ Thomas Scully

	 	Name:    Thomas Scully
	 	Title:      Managing Member

 

	 	Welsh, Carson, Anderson & Stowe XII Delaware, L.P.

 

	 	By: WCAS XII Associates Cayman, L.P., its general partner

 

	 	By: WCAS XII Associates LLC, its general partner

 

	 	By:	/s/ Thomas Scully

	 	Name:   Thomas Scully
	 	Title:      Managing Member

 

	 	Welsh, Carson, Anderson & Stowe XII Delaware II, L.P.

 

	 	By: WCAS XII Associates LLC, its general partner

 

	 	By:	/s/ Thomas Scully

	 	Name:   Thomas Scully
	 	Title:      Managing Member

 

[Signature Page to Director Nomination Agreement]

 

    

     

    

 

	 	Welsh, Carson, Anderson & Stowe XII Cayman, L.P.

 

	 	By: WCAS XII Associates Cayman, L.P., its general partner

 

	 	By: WCAS XII Associates LLC, its general partner

 

	 	By:	/s/ Thomas Scully

	 	Name:   Thomas Scully
	 	Title:      Managing Member

 

	 	WCAS XII Co-Investors LLC

 

	 	By:	/s/ Jonathan Rather

	 	Name:    Jonathan Rather
	 	Title:      Managing Member

 

	 	WCAS Management Corporation

 

	 	By:	/s/ Jonathan Rather

	 	Name:    Jonathan Rather
	 	Title:     Treasurer

 

	 	WCAS Co-Invest Holdco, L.P.

 

	 	By: WCAS Co-Invest Associates LLC, its general partner

 

	 	By:	/s/ Jonathan Rather

 

	 	Name:    Jonathan Rather
	 	Title:      Managing Member

 

[Signature Page to Director
Nomination Agreement]

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