Document:

Exchange and Registration Rights Agreement

 Exhibit 10.2 
  
 EXECUTION COPY 
  
 Syniverse Technologies, Inc. 
  
 7 3⁄4% Senior Subordinated Notes due 2013 
  
 unconditionally guaranteed as to the 
 payment of principal, premium, 
 if any, and interest by 
  
 Each of the Guarantors named herein 
  

  
 Exchange and Registration Rights Agreement 
  
 August 24, 2005 
  
 Lehman Brothers Inc. 
 790 7th Avenue 
 New York, New York 10019 
  
 Deutsche Bank Securities Inc. 
 60 Wall Street 
 New York, NY 10005 
  

Ladies and Gentlemen: 
  
 Syniverse Technologies, Inc., a Delaware corporation (the “Company”), proposes to issue and sell to the Purchasers (as defined herein) upon the
terms set forth in the Purchase Agreement (as defined herein) its 7 3⁄4% Senior Subordinated Notes due 2013, which are unconditionally guaranteed by Syniverse Holdings, Inc., a Delaware corporation and the direct parent of the Company
(“Syniverse Holdings”), and each of Syniverse’s current and future Domestic Subsidiaries, including Syniverse Brience, LLC (“Syniverse Brience”) and Syniverse Technologies of Virginia, Inc. (“Syniverse Virginia”)
(collectively, the “Guarantors”). As an inducement to the Purchasers to enter into the Purchase Agreement and in satisfaction of a condition to the obligations of the Purchasers thereunder, the Company and the Guarantors agree with the
Purchasers for the benefit of holders (as defined herein) from time to time of the Transfer Restricted Securities (as defined herein) as follows: 
  
 1. Certain Definitions. For purposes of this Exchange and Registration Rights Agreement, the following terms shall have the following respective
meanings (capitalized terms not defined herein shall have the meanings assigned to them in the Indenture or Purchase Agreement, as the case may be): 
  
 “Base Interest” shall mean the interest that would otherwise accrue on the Securities under the terms thereof and the Indenture, without
giving effect to the provisions of this Exchange and Registration Rights Agreement. 
  

 1 

 The term “broker-dealer” shall mean any broker or dealer registered with the Commission
under the Exchange Act. 
  
 “Closing Date” shall
mean the date on which the Securities are initially issued. 
  
 “Commission” shall mean the United States Securities and Exchange Commission, or any other federal agency at the time administering the Exchange Act or the Securities Act, whichever is the relevant statute for the
particular purpose. 
  
 “Effective Time,” in the
case of (i) an Exchange Registration, shall mean the time and date as of which the Commission declares the Exchange Offer Registration Statement effective or as of which the Exchange Offer Registration Statement otherwise becomes effective and (ii)
a Shelf Registration, shall mean the time and date as of which the Commission declares the Shelf Registration Statement effective or as of which the Shelf Registration Statement otherwise becomes effective. 
  
 “Electing Holder” shall mean any holder of Transfer
Restricted Securities that has returned a completed and signed Notice and Questionnaire to the Company in accordance with Section 3(d)(ii) or 3(d)(iii) hereof. 
  

“Exchange Act” shall mean the Securities Exchange Act of 1934, or any successor thereto, as the same shall be amended from time to
time. 
  
 “Exchange Notes” shall have the meaning
assigned thereto in Section 2(a) hereof. 
  
 “Exchange
Offer” shall have the meaning assigned thereto in Section 2(a) hereof. 
  
 “Exchange Offer Registration Statement” shall have the meaning assigned thereto in Section 2(a) hereof. 
  
 “Exchange Registration” shall have the meaning assigned thereto in Section 3(c) hereof. 
  
 The term “holder” shall mean the Purchasers and other
persons who acquire Transfer Restricted Securities from time to time (including any successors or assigns), in each case for so long as such person owns any Transfer Restricted Securities. 
  
 “Indenture” shall mean the Indenture, dated as of August 24,
2005, between the Company, the Guarantors and The Bank of New York, as Trustee, as the same shall be amended from time to time. 
  
 “Liquidated Damages” shall have the meaning assigned thereto in Section 2(c) hereof. 
  
 “Notice and Questionnaire” means a Notice of Registration
Statement and Selling Security holder Questionnaire substantially in the form of Exhibit A hereto. 
  

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 The term “person” shall mean a corporation, association, partnership, organization,
business, individual, government or political subdivision thereof or governmental agency. 
  
 “Purchase Agreement” shall mean the Purchase Agreement, dated as of August 18, 2005, between the Purchasers, the Guarantors and the Company relating to the Securities. 
  
 “Purchasers” shall mean Lehman Brothers Inc. and Deutsche
Bank Securities Inc. 
  
 “Registration Default”
shall have the meaning assigned thereto in Section 2(c) hereof. 
  
 “Registration Expenses” shall have the meaning assigned thereto in Section 4 hereof. 
  
 “Resale Period” shall have the meaning assigned thereto in Section 2(a) hereof. 
  
 “Restricted Holder” shall mean (i) a holder that is an
affiliate of the Company within the meaning of Rule 405, (ii) a holder who acquires Exchange Notes outside the ordinary course of such holder’s business, (iii) a holder who has arrangements or understandings with any person to participate in
the Exchange Offer for the purpose of distributing Exchange Notes and (iv) a holder that is a broker-dealer, but only with respect to Transfer Restricted Securities received by such broker-dealer pursuant to an Exchange Offer in exchange for
Transfer Restricted Securities acquired by the broker-dealer directly from the Company. 
  
 “Rule 144,” “Rule 405” and “Rule 415” shall mean, in each case, such rule promulgated under the Securities Act (or any successor provision), as the same shall be
amended from time to time. 
  
 “Securities” shall
mean, collectively, the 7 3⁄4% Senior Subordinated Notes due 2013 of the Company, to be issued and sold to the Purchasers, and securities issued in exchange therefor or in lieu thereof pursuant to the Indenture. Each Security is entitled to the
benefit of the guarantees provided for in the Indenture (the “Guarantees”) and, unless the context otherwise requires, any reference herein to a “Security,” an “Exchange Note” or a “Transfer Restricted
Security” shall include a reference to the related Guarantees. 
  
 “Securities Act” shall mean the Securities Act of 1933, or any successor thereto, as the same shall be amended from time to time. 
  
 “Shelf Registration” shall have the meaning assigned thereto in Section 2(b) hereof. 
  
 “Shelf Registration Statement” shall have the meaning
assigned thereto in Section 2(b) hereof. 
  

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 “Transfer Restricted Securities” shall mean the Securities; until: 
  
 (1) the date on which such Security has been exchanged by a Person other than
a broker-dealer for an Exchange Note in the Exchange Offer; 
  
 (2) following the exchange by a broker-dealer in the Exchange Offer of a Security for an Exchange Note, the date on which such Exchange Note is sold to a purchaser who receives from such broker-dealer on or prior to the date of such sale a
copy of the prospectus contained in the Exchange Offer Registration Statement; 
  
 (3) the date on which such Security has been effectively registered under the Securities Act and disposed of in accordance with the Shelf Registration Statement; or 
  
 (4) the date on which such Security is distributed to the public pursuant to
Rule 144 under the Securities Act. 
  
 “Trust Indenture
Act” shall mean the Trust Indenture Act of 1939, or any successor thereto, and the rules, regulations and forms promulgated thereunder, all as the same shall be amended from time to time. 
  
 Unless the context otherwise requires, any reference herein to a
“Section” or “clause” refers to a Section or clause, as the case may be, of this Exchange and Registration Rights Agreement, and the words “herein,” “hereof” and “hereunder” and other words of
similar import refer to this Exchange and Registration Rights Agreement as a whole and not to any particular Section or other subdivision. 
  
 2. Registration Under the Securities Act. 
  
 (a) Except as set forth in Section 2(b) below, the Company and the Guarantors agree to file under the Securities Act, on or prior to 90
days after the Closing Date, a registration statement relating to an offer to exchange (such registration statement, the “Exchange Offer Registration Statement”, and such offer, the “Exchange Offer”) any and all of the Securities
for a like aggregate principal amount of debt securities issued by the Company and guaranteed by the Guarantors, which debt securities and guarantees are substantially identical to the Securities and the related Guarantees, respectively (and are
entitled to the benefits of a trust indenture which is substantially identical to the Indenture or is the Indenture and which has been qualified under the Trust Indenture Act), except that they have been registered pursuant to an effective
registration statement under the Securities Act and do not contain provisions for the Liquidated Damages as contemplated in Section 2(c) below (such new debt securities hereinafter called “Exchange Notes”). The Company and the Guarantors
agree to use all commercially reasonable efforts to have the Exchange Offer Registration Statement declared effective by the Commission on or prior to 180 days after the Closing Date. The Exchange Offer will be registered under the Securities Act on
the appropriate form and will comply with all applicable tender offer rules and regulations under the Exchange Act. Unless the Exchange Offer would not be permitted by applicable law or Commission policy, the Company and the Guarantors further agree
to use all commercially reasonable efforts to commence and complete the Exchange Offer on or prior to 45 business days, or longer, if required by the federal securities laws, after such date on which the Exchange Offer Registration Statement was
declared effective by the Commission, 

  

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exchange Exchange Notes for all Transfer Restricted Securities that have been properly tendered and not withdrawn on or prior to the expiration of the
Exchange Offer. The Exchange Offer will be deemed to have been “completed” only if the debt securities and related guarantees received by holders other than Restricted Holders in the Exchange Offer for Transfer Restricted Securities are,
upon receipt, transferable by each such holder without restriction under the Securities Act and the Exchange Act and without material restrictions under the blue sky or securities laws of a substantial majority of the States of the United States of
America. The Exchange Offer shall be deemed to have been completed upon the earlier to occur of (i) the Company having exchanged the Exchange Notes for all outstanding Transfer Restricted Securities pursuant to the Exchange Offer and (ii) the
Company having exchanged, pursuant to the Exchange Offer, Exchange Notes for all Transfer Restricted Securities that have been properly tendered and not withdrawn before the expiration of the Exchange Offer. The Company agrees (x) to include in the
Exchange Offer Registration Statement a prospectus for use in any resales by any holder of Exchange Notes that is a broker-dealer and (y) to keep such Exchange Offer Registration Statement effective for a period (the “Resale Period”)
beginning when Exchange Notes are first issued in the Exchange Offer and ending upon the earlier of the expiration of the 180th day after the Exchange Offer has been completed or such time as such broker-dealers no longer own any Transfer Restricted
Securities. With respect to such Exchange Offer Registration Statement, such holders shall have the benefit of the rights of indemnification and contribution set forth in Sections 6(a), (c), (d) and (e) hereof. 
  
 (b) If (i) the Company and the Guarantors are not (A)
required to file the Exchange Offer Registration Statement; or (B) permitted to consummate the Exchange Offer because the Exchange Offer is not permitted by applicable law or Commission policy, (ii) any holder of Transfer Restricted Securities
notifies the Company prior to the 20th day following the consummation of the Exchange Offer that (X) it is prohibited by applicable law or Commission policy from participating in the Exchange Offer; or (Y) that it may not resell the Exchange Notes
acquired by it in the Exchange Offer to the public without delivering a prospectus and the prospectus contained in the Exchange Offer Registration Statement is not appropriate or available for resales; or (Z) that it is a broker-dealer and owns
Securities acquired directly from the Company or an affiliate of the Company, the Company and the Guarantors will use all commercially reasonable efforts to file under the Securities Act on or prior to 30 days after such filing obligation arises, a
“shelf” registration statement providing for the registration of, and the sale on a continuous or delayed basis by the holders of, all of the Transfer Restricted Securities, pursuant to Rule 415 or any similar rule that may be adopted by
the Commission (such filing, the “Shelf Registration” and such registration statement, the “Shelf Registration Statement”). The Company and the Guarantors agree to use all commercially reasonable efforts (x) to cause the Shelf
Registration Statement to become or be declared effective on or prior to 90 days after such obligation arises and to keep such Shelf Registration Statement continuously effective for a period ending on the earlier of the second anniversary of the
Effective Time or such time as there are no longer any Transfer Restricted Securities outstanding, provided, however, that no holder shall be entitled to be named as a selling securityholder in the Shelf Registration Statement or to use the
prospectus forming a part thereof for resales of Transfer Restricted Securities unless such holder is an Electing Holder, and (y) after the Effective Time of the Shelf Registration Statement, promptly upon the request of any holder of Transfer
Restricted Securities that is 

  

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not then an Electing Holder, to take any action reasonably necessary to enable such holder to use the prospectus forming a part thereof for resales of
Transfer Restricted Securities, including, without limitation, any action necessary to identify such holder as a selling securityholder in the Shelf Registration Statement, provided, however, that nothing in this clause (y) shall relieve any
such holder of the obligation to return a completed and signed Notice and Questionnaire to the Company in accordance with Section 3(d)(ii) hereof. The Company further agrees to supplement or make amendments to the Shelf Registration Statement, as
and when required by the rules, regulations or instructions applicable to the registration form used by the Company for such Shelf Registration Statement or by the Securities Act, and the Company agrees to furnish to each Electing Holder copies of
any such supplement or amendment prior to its being used or promptly following its filing with the Commission. 
  
 (c) In the event that (i) the Company and the Guarantors have not filed the Exchange Offer Registration Statement or Shelf Registration
Statement on or before the date on which such registration statement is required to be filed pursuant to Section 2(a) or 2(b), respectively, or (ii) such Exchange Offer Registration Statement or Shelf Registration Statement has not become effective
or been declared effective by the Commission on or before the date on which such registration statement is required to become or be declared effective pursuant to Section 2(a) or 2(b), respectively (the “Effectiveness Target Date”), or
(iii) the Exchange Offer has not been consummated within 30 business days of the Effectiveness Target Date with respect to the Exchange Offer Registration Statement or (iv) any Exchange Offer Registration Statement or Shelf Registration Statement
required by Section 2(a) or 2(b) hereof is declared effective but thereafter ceases to be effective or usable in connection with resales of Transfer Restricted Securities during the time period specified herein (each such event referred to in
clauses (i) through (iv), a “Registration Default” and each period during which a Registration Default has occurred and is continuing, a “Registration Default Period”), then, as liquidated damages for such Registration Default,
subject to the provisions of Section 9(b), liquidated damages (“Liquidated Damages”), in addition to the Base Interest, shall accrue at a rate of 0.25% per annum with respect to the first 90-day period immediately following the occurrence
of the first Registration Default. The amount of Liquidated Damages will increase by an additional 0.25% per annum with respect to each subsequent 90-day period until all Registration Defaults have been cured, up to a maximum amount of Liquidated
Damages for all Registration Defaults of 1.0% per annum. Following the cure of all Registration Defaults, the accrual of Liquidated Damages will cease. All accrued Liquidated Damages will be paid by the Company and the Guarantors on each Interest
Payment Date (as defined in the Indenture) to the Global Note Holder (as defined in the Indenture) by wire transfer of immediately available funds or by federal funds check and to Holders of Certificated Notes (as defined in the Indenture) by wire
transfer to the accounts specified by them or by mailing checks to their registered addresses if no such accounts have been specified. 
  
 (d) Any reference herein to a registration statement as of any time shall be deemed to include any document incorporated, or deemed to be
incorporated, therein by reference as of such time and any reference herein to any post-effective amendment to a registration statement as of any time shall be deemed to include any document incorporated, or deemed to be incorporated, therein by
reference as of such time. 
  

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 3. Registration Procedures. 
  
 If the Company and the Guarantors file a registration statement pursuant to Section 2(a) or Section 2(b), the following
provisions shall apply: 
  
 (a) At or before the
Effective Time of the Exchange Offer or the Shelf Registration, as the case may be, the Company shall qualify the Indenture under the Trust Indenture Act of 1939. 
  
 (b) In the event that such qualification would require of a new trustee under the Indenture, the Company
shall appoint a new trustee thereunder pursuant to the applicable provisions of the Indenture. 
  
 (c) In connection with the Company’s obligations with respect to the registration of Exchange Notes as contemplated by Section 2(a)
(the “Exchange Registration”), if applicable, the Company and the Guarantors shall, as soon as practicable (or as otherwise specified): 
  
 (i) prepare and file with the Commission, as soon as practicable but no later than 90 days after the Closing Date, an Exchange Offer
Registration Statement on any form which may be utilized by the Company and which shall permit the Exchange Offer and resales of Exchange Notes by broker-dealers during the Resale Period to be effected as contemplated by Section 2(a), and use all
commercially reasonable efforts to cause such Exchange Offer Registration Statement to become effective as soon as practicable thereafter, but no later than 180 days after the Closing Date; 
  
 (ii) as soon as practicable prepare and file with the
Commission such amendments and supplements to such Exchange Offer Registration Statement and the prospectus included therein as may be necessary to effect and maintain the effectiveness of such Exchange Offer Registration Statement for the periods
and purposes contemplated in Section 2(a) hereof and as may be required by the applicable rules and regulations of the Commission and the instructions applicable to the form of such Exchange Offer Registration Statement, and promptly provide each
broker-dealer holding Exchange Notes with such number of copies of the prospectus included therein (as then amended or supplemented), in conformity in all material respects with the requirements of the Securities Act and the Trust Indenture Act and
the rules and regulations of the Commission thereunder, as such broker-dealer reasonably may request prior to the expiration of the Resale Period, for use in connection with resales of Exchange Notes; 
  
 (iii) with respect to a Shelf Registration Statement,
promptly advise each broker-dealer that has requested or received copies of the prospectus included in such registration statement, and, if requested by such broker-dealer, confirm such advice in writing, (A) when such Exchange Offer Registration
Statement or the prospectus included therein or any prospectus amendment or supplement or post-effective amendment has been filed, and, with respect to such Exchange Offer Registration Statement or any post-effective amendment, when the same has
become effective, (B) of 

  

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any comments by the Commission and by the blue sky or securities commissioner or regulator of any state with respect thereto or any request by the Commission
for amendments or supplements to such Exchange Offer Registration Statement or prospectus or for additional information, (C) of the issuance by the Commission of any stop order suspending the effectiveness of such Exchange Offer Registration
Statement or the initiation or threatening of any proceedings for that purpose, (D) if at any time the representations and warranties of the Company contemplated by Section 5 cease to be true and correct in all material respects, (E) of the receipt
by the Company of any notification with respect to the suspension of the qualification of the Exchange Notes for sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose, or (F) at any time during the Resale
Period when a prospectus is required to be delivered under the Securities Act, that such Exchange Offer Registration Statement, prospectus, prospectus amendment or supplement or post-effective amendment does not conform in all material respects to
the applicable requirements of the Securities Act and the Trust Indenture Act and the rules and regulations of the Commission thereunder or contains an untrue statement of a material fact or omits to state any material fact required to be stated
therein or necessary to make the statements therein not misleading in light of the circumstances then existing; 
  
 (iv) in the event that the Company would be required, pursuant to Section 3(c)(iii)(F) above, to notify any broker-dealers holding
Exchange Notes, without delay prepare and furnish to each such holder a reasonable number of copies of a prospectus supplemented or amended so that, as thereafter delivered to purchasers of such Exchange Notes during the Resale Period, such
prospectus shall conform in all material respects to the applicable requirements of the Securities Act and the Trust Indenture Act and the rules and regulations of the Commission thereunder and shall not contain an untrue statement of a material
fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances then existing; 
  
 (v) use all commercially reasonable efforts to obtain the withdrawal of any order suspending the
effectiveness of such Exchange Offer Registration Statement or any post-effective amendment thereto at the earliest practicable date; 
  
 (vi) use all commercially reasonable efforts to (A) register or qualify the Exchange Notes under the securities laws or blue sky laws of
such jurisdictions as are contemplated by Section 2(a) no later than the commencement of the Exchange Offer, (B) keep such registrations or qualifications in effect and comply with such laws so as to permit the continuance of offers, sales and
dealings therein in such jurisdictions until the expiration of the Resale Period and (C) take any and all other actions as may be reasonably necessary or advisable to enable each broker-dealer holding Exchange Notes to consummate the disposition
thereof in such jurisdictions; provided, however, that neither the Company nor the Guarantors shall be required for any such purpose to (1) qualify as a foreign corporation in any jurisdiction wherein it would not otherwise be required to
qualify but for the requirements of this Section 3(c)(vi), (2) consent to general service of process in any such jurisdiction or (3) make any changes to 

  

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its certificate of incorporation or by-laws or any agreement between it and its stockholders; 
  
 (vii) provide a CUSIP number for all Exchange Notes, not later than the applicable Effective Time;

  
 (viii) use all commercially reasonable
efforts to comply with all applicable rules and regulations of the Commission, and make generally available to its securityholders as soon as practicable but no later than eighteen months after the effective date of such Exchange Offer Registration
Statement, an earning statement of the Company and its subsidiaries complying with Section 11(a) of the Securities Act (including, at the option of the Company, Rule 158 thereunder). 
  
 (d) In connection with the Company’s and the Guarantors’ obligations with respect to the Shelf
Registration, if applicable, the Company and the Guarantors shall: 
  
 (i) prepare and file with the Commission, as soon as practicable but in any case within the time periods specified in Section 2(b), a Shelf Registration Statement on any form which may be utilized by the Company and
which shall register all of the Transfer Restricted Securities for resale by the holders thereof in accordance with such method or methods of disposition as may be specified by such of the holders as, from time to time, may be Electing Holders and
use all commercially reasonable efforts to cause such Shelf Registration Statement to become effective as soon as practicable but in any case within the time periods specified in Section 2(b); 
  
 (ii) not less than 30 calendar days prior to the Effective
Time of the Shelf Registration Statement, mail the Notice and Questionnaire to the holders of Transfer Restricted Securities; no holder shall be entitled to be named as a selling securityholder in the Shelf Registration Statement as of the Effective
Time, and no holder shall be entitled to use the prospectus forming a part thereof for resales of Transfer Restricted Securities at any time, unless such holder has returned a completed and signed Notice and Questionnaire to the Company by the
deadline for response set forth therein; provided, however, holders of Transfer Restricted Securities shall have at least 28 calendar days from the date on which the Notice and Questionnaire is first mailed to such holders to return a
completed and signed Notice and Questionnaire to the Company; 
  
 (iii) after the Effective Time of the Shelf Registration Statement, upon the request of any holder of Transfer Restricted Securities that is not then an Electing Holder, promptly send a Notice and Questionnaire to
such holder; provided that the Company shall not be required to take any action to name such holder as a selling securityholder in the Shelf Registration Statement or to enable such holder to use the prospectus forming a part thereof for
resales of Transfer Restricted Securities until such holder has returned a completed and signed Notice and Questionnaire to the Company; 
  
 (iv) as soon as practicable prepare and file with the Commission such amendments and supplements to such Shelf Registration Statement and
the prospectus included therein as may be necessary to effect and maintain the effectiveness 

  

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of such Shelf Registration Statement for the period specified in Section 2(b) hereof and as may be required by the applicable rules and regulations of the
Commission and the instructions applicable to the form of such Shelf Registration Statement, and furnish to the Electing Holders copies of any such supplement or amendment simultaneously with or prior to its being used or filed with the Commission;

  
 (v) use commercially reasonable efforts to
comply with the provisions of the Securities Act with respect to the disposition of all of the Transfer Restricted Securities covered by such Shelf Registration Statement in accordance with the intended methods of disposition by the Electing Holders
provided for in such Shelf Registration Statement; 
  
 (vi) provide (A) the Electing Holders, (B) the underwriters (which term, for purposes of this Exchange and Registration Rights Agreement, shall include a person deemed to be an underwriter within the meaning of Section 2(a)(11) of the
Securities Act, if such person notifies the Company of its status as an underwriter), if any, thereof, (C) any sales or placement agent therefor, (D) counsel for any such underwriter or agent and (E) not more than one counsel for all the Electing
Holders the opportunity to participate in the preparation of such Shelf Registration Statement, each prospectus included therein or filed with the Commission and each amendment or supplement thereto; 
  
 (vii) for a reasonable period prior to the filing of such
Shelf Registration Statement, and throughout the period specified in Section 2(b), make available at reasonable times at the Company’s principal place of business or such other reasonable place for inspection by the persons referred to in
Section 3(d)(vi) who shall certify to the Company that they have a current intention to sell the Transfer Restricted Securities pursuant to the Shelf Registration such financial and other information and books and records of the Company, and cause
the officers, employees, counsel and independent certified public accountants of the Company to respond to such inquiries, as shall be reasonably necessary, in the judgment of the respective counsel referred to in such Section, to conduct a
reasonable investigation within the meaning of Section 11 of the Securities Act; provided, however, that each such party shall be required to maintain in confidence and not to disclose to any other person any information or records reasonably
designated by the Company as being confidential (and, if requested by the Company, will enter into a confidentiality agreement providing that), until such time as (A) such information becomes a matter of public record (whether by virtue of its
inclusion in such registration statement or otherwise), or (B) such person shall be required so to disclose such information pursuant to a subpoena or order of any court or other governmental agency or body having jurisdiction over the matter
(subject to the requirements of such order, and only after such person shall have given the Company prompt prior written notice of such requirement), or (C) such information is required to be set forth in such Shelf Registration Statement or the
prospectus included therein or in an amendment to such Shelf Registration Statement or an amendment or supplement to such prospectus in order that such Shelf Registration Statement, prospectus, amendment or supplement, as the case may be, complies
with applicable requirements of the federal securities laws and the rules and regulations of the Commission and does not contain an 

  

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untrue statement of a material fact or omit to state therein a material fact required to be stated therein or necessary to make the statements therein not
misleading in light of the circumstances then existing; 
  
 (viii) with respect to a Shelf Registration Statement, promptly advise each of the Electing Holders, any sales or placement agent therefor and any underwriter thereof (which notification may be made through any
managing underwriter that is a representative of such underwriter for such purpose) and, if requested by each of the Electing Holders, any sales or placement agent therefor and any underwriter thereof, confirm such advice in writing, (A) when such
Shelf Registration Statement or the prospectus included therein or any prospectus amendment or supplement or post-effective amendment has been filed, and, with respect to such Shelf Registration Statement or any post-effective amendment, when the
same has become effective, (B) of any comments by the Commission and by the blue sky or securities commissioner or regulator of any state with respect thereto or any request by the Commission for amendments or supplements to such Shelf Registration
Statement or prospectus or for additional information, (C) of the issuance by the Commission of any stop order suspending the effectiveness of such Shelf Registration Statement or the initiation or threatening of any proceedings for that purpose,
(D) if at any time the representations and warranties of the Company contemplated by Section 3(d)(xvii) or Section 5 cease to be true and correct in all material respects, (E) of the receipt by the Company 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, or (F) if at any time when a prospectus is required to be delivered under the Securities
Act, that such Shelf Registration Statement, prospectus, prospectus amendment or supplement or post-effective amendment does not conform in all material respects to the applicable requirements of the Securities Act and the Trust Indenture Act and
the rules and regulations of the Commission thereunder or contains an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading in light of the
circumstances then existing; 
  
 (ix) use all
commercially reasonable efforts to obtain the withdrawal of any order suspending the effectiveness of such registration statement or any post-effective amendment thereto at the earliest practicable date; 
  
 (x) if requested by any managing underwriter or
underwriters, any placement or sales agent or any Electing Holder, promptly incorporate in a prospectus supplement or post-effective amendment such information as is required by the applicable rules and regulations of the Commission and as such
managing underwriter or underwriters, such agent or such Electing Holder specifies should be included therein relating to the terms of the sale of such Transfer Restricted Securities, including information with respect to the principal amount of
Transfer Restricted Securities being sold by such Electing Holder or agent or to any underwriters, the name and description of such Electing Holder, agent or underwriter, the offering price of such Transfer Restricted Securities and any discount,
commission or other compensation payable in respect thereof, the purchase price being paid therefor by such underwriters and with respect to any other terms of the offering of the Transfer Restricted Securities to be sold by such 

  

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Electing Holder or agent or to such underwriters; and make all required filings of such prospectus supplement or post-effective amendment promptly after
notification of the matters to be incorporated in such prospectus supplement or post-effective amendment; 
  
 (xi) furnish to each Electing Holder, each placement or sales agent, if any, therefor, each underwriter, if any, thereof and the
respective counsel referred to in Section 3(d)(vi) an executed copy (or, in the case of an Electing Holder, a conformed copy) of such Shelf Registration Statement, each such amendment and supplement thereto (in each case including all exhibits
thereto (in the case of an Electing Holder of Transfer Restricted Securities, upon request) and documents incorporated by reference therein) and such number of copies of such Shelf Registration Statement (excluding exhibits thereto and documents
incorporated by reference therein unless specifically so requested by such Electing Holder, agent or underwriter, as the case may be) and of the prospectus included in such Shelf Registration Statement (including each preliminary prospectus and any
summary prospectus), in conformity in all material respects with the applicable requirements of the Securities Act and the Trust Indenture Act and the rules and regulations of the Commission thereunder, and such other documents, as such Electing
Holder, agent, if any, and underwriter, if any, may reasonably request in order to facilitate the offering and disposition of the Transfer Restricted Securities owned by such Electing Holder, offered or sold by such agent or underwritten by such
underwriter and to permit such Electing Holder, agent and underwriter to satisfy the prospectus delivery requirements of the Securities Act; and the Company hereby consents to the use of such prospectus (including such preliminary and summary
prospectus) and any amendment or supplement thereto by each such Electing Holder and by any such agent and underwriter, in each case in the form most recently provided to such person by the Company, in connection with the offering and sale of the
Transfer Restricted Securities covered by the prospectus (including such preliminary and summary prospectus) or any supplement or amendment thereto; 
  
 (xii) use all commercially reasonable efforts to (A) register or qualify the Transfer Restricted Securities to be included in such Shelf
Registration Statement under such securities laws or blue sky laws of such jurisdictions as any Electing Holder and each placement or sales agent, if any, therefor and underwriter, if any, thereof shall reasonably request, (B) keep such
registrations or qualifications in effect and comply with such laws so as to permit the continuance of offers, sales and dealings therein in such jurisdictions during the period the Shelf Registration is required to remain effective under Section
2(b) above and for so long as may be necessary to enable any such Electing Holder, agent or underwriter to complete its distribution of Securities pursuant to such Shelf Registration Statement and (C) take any and all other actions as may be
reasonably necessary or advisable to enable each such Electing Holder, agent, if any, and underwriter, if any, to consummate the disposition in such jurisdictions of such Transfer Restricted Securities; provided, however, that neither the
Company nor the Guarantors shall be required for any such purpose to (1) qualify as a foreign corporation in any jurisdiction wherein it would not otherwise be required to qualify but for the requirements of this Section 3(d)(xii), (2) consent to
general service of process in any such jurisdiction or (3) make any changes to its certificate of incorporation or by-laws or any agreement between it and its stockholders; 
  

 12 

 (xiii) unless any Transfer Restricted Securities shall be in book-entry only form,
cooperate with the Electing Holders and the managing underwriters, if any, to facilitate the timely preparation and delivery of certificates representing Transfer Restricted Securities to be sold, which certificates, if so required by any securities
exchange upon which any Transfer Restricted Securities are listed, shall be penned, lithographed or engraved, or produced by any combination of such methods, on steel engraved borders, and which certificates shall not bear any restrictive legends;
and, in the case of an underwritten offering, enable such Transfer Restricted Securities to be in such denominations and registered in such names as the managing underwriters may request at least two business days prior to any sale of the Transfer
Restricted Securities; 
  
 (xiv) provide a CUSIP
number for all Transfer Restricted Securities, not later than the applicable Effective Time; 
  
 (xv) enter into on one occasion, an underwriting agreement, engagement letter, agency agreement, “best efforts” underwriting
agreement or similar agreement, as appropriate, including customary provisions relating to indemnification and contribution, and take such other actions in connection therewith as any Electing Holders aggregating at least 20% in aggregate principal
amount of the Transfer Restricted Securities at the time outstanding shall request in order to expedite or facilitate the disposition of such Transfer Restricted Securities; 
  
 (xvi) if an offering contemplated by the Shelf Registration is an underwritten offering, (A) make such
representations and warranties to the Electing Holders and the placement or sales agent, if any, therefor and the underwriters, if any, thereof in form, substance and scope as are customarily made in connection with an offering of debt securities
pursuant to any appropriate agreement or to a registration statement filed on the form applicable to the Shelf Registration; (B) obtain an opinion of counsel to the Company in customary form and covering such matters, of the type customarily covered
by such an opinion, as the managing underwriters, if any, or as any Electing Holders of at least 20% in aggregate principal amount of the Transfer Restricted Securities at the time outstanding may reasonably request, addressed to such Electing
Holder or Electing Holders and the placement or sales agent, if any, therefor and the underwriters, if any, thereof and dated the effective date of such Shelf Registration Statement (and if such Shelf Registration Statement contemplates an
underwritten offering of a part or all of the Transfer Restricted Securities, dated the date of the closing under the underwriting agreement relating thereto); (C) obtain a “cold comfort” letter or letters from the independent certified
public accountants of the Company addressed to the selling Electing Holders, the placement or sales agent, if any, therefor or the underwriters, if any, thereof, dated (i) the effective date of such Shelf Registration Statement and (ii) the
effective date of any prospectus supplement to the prospectus included in such Shelf Registration Statement or post-effective amendment to such Shelf Registration Statement which includes unaudited or audited financial statements as of a date or for
a period subsequent to that of the latest such statements included in such prospectus (and, if such Shelf Registration Statement contemplates an underwritten offering pursuant to any prospectus supplement to the prospectus included in such Shelf
Registration Statement or post-effective amendment to such Shelf Registration Statement 

  

 13 

 
which includes unaudited or audited financial statements as of a date or for a period subsequent to that of the latest such statements included in such
prospectus, dated the date of the closing under the underwriting agreement relating thereto), such letter or letters to be in customary form and covering such matters of the type customarily covered by letters of such type; (D) deliver such
documents and certificates, including officers’ certificates, as may be reasonably requested by any Electing Holders of at least 20% in aggregate principal amount of the Transfer Restricted Securities at the time outstanding or the placement or
sales agent, if any, therefor and the managing underwriters, if any, thereof to evidence the accuracy of the representations and warranties made pursuant to clause (A) above or those contained in Section 5(a) hereof and the compliance with or
satisfaction of any agreements or conditions contained in the underwriting agreement or other agreement entered into by the Company or the Guarantors; and (E) undertake such obligations relating to expense reimbursement, indemnification and
contribution as are provided in Section 6 hereof; 
  
 (xvii) notify in writing each holder of Transfer Restricted Securities of any proposal by the Company to amend or waive any provision of this Exchange and Registration Rights Agreement pursuant to Section 9(h) hereof and of any amendment or
waiver effected pursuant thereto, each of which notices shall contain the text of the amendment or waiver proposed or effected, as the case may be; 
  
 (xviii) in the event that any broker-dealer registered under the Exchange Act shall underwrite any Transfer Restricted Securities or
participate as a member of an underwriting syndicate or selling group or “assist in the distribution” (within the meaning of the Conduct Rules (the “Conduct Rules”) of the National Association of Securities Dealers, Inc.
(“NASD”) or any successor thereto, as amended from time to time) thereof, whether as a holder of such Transfer Restricted Securities or as an underwriter, a placement or sales agent or a broker or dealer in respect thereof, or otherwise,
assist such broker-dealer in complying with the requirements of such Conduct Rules, including by (A) if such Conduct Rules shall so require, engaging a “qualified independent underwriter” (as defined in such Conduct Rules) to participate
in the preparation of the Shelf Registration Statement relating to such Transfer Restricted Securities, to exercise usual standards of due diligence in respect thereto and, if any portion of the offering contemplated by such Shelf Registration
Statement is an underwritten offering or is made through a placement or sales agent, to recommend the yield of such Transfer Restricted Securities, (B) indemnifying any such qualified independent underwriter to the extent of the indemnification of
underwriters provided in Section 6 hereof (or to such other customary extent as may be requested by such underwriter), and (C) providing such information to such broker-dealer as may be required in order for such broker-dealer to comply with the
requirements of the Conduct Rules; and 
  
 (xix)
otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission, and make generally available to its securityholders as soon as practicable but in any event not later than eighteen months after the
effective date of such Shelf Registration Statement, an earning statement of the 

  

 14 

 
Company and its subsidiaries complying with Section 11 (a) of the Securities Act (including, at the option of the Company, Rule 158 thereunder). 

 
 (e) In the event that the Company would be required,
pursuant to Section 3(d)(viii)(F) above, to notify the Electing Holders, the placement or sales agent, if any, therefor and the managing underwriters, if any, thereof, the Company shall without delay prepare and furnish to each of the Electing
Holders, to each placement or sales agent, if any, and to each such underwriter, if any, a reasonable number of copies of a prospectus supplemented or amended so that, as thereafter delivered to purchasers of Transfer Restricted Securities, such
prospectus shall conform in all material respects to the applicable requirements of the Securities Act and the Trust Indenture Act and the rules and regulations of the Commission thereunder and shall not contain an untrue statement of a material
fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances then existing. Each Electing Holder agrees that upon receipt of any notice from the Company
pursuant to Section 3(d)(viii)(F) hereof, such Electing Holder shall forthwith discontinue the disposition of Transfer Restricted Securities pursuant to the Shelf Registration Statement applicable to such Registrable Securities until such Electing
Holder shall have received copies of such amended or supplemented prospectus, and if so directed by the Company, such Electing Holder shall (i) destroy, or (ii) deliver to the Company (at the Company’s expense) all copies, other than permanent
file copies, then in such Electing Holder’s possession of the prospectus covering such Transfer Restricted Securities at the time of receipt of such notice. 
  
 (f) In the event of a Shelf Registration, in addition to the information required to be provided by each
Electing Holder in its Notice Questionnaire, the Company may require such Electing Holder to furnish to the Company such additional information regarding such Electing Holder and such Electing Holder’s intended method of distribution of
Transfer Restricted Securities as may be required in order to comply with the Securities Act. Each such Electing Holder agrees to notify the Company as promptly as practicable of any inaccuracy or change in information previously furnished by such
Electing Holder to the Company or of the occurrence of any event in either case as a result of which any prospectus relating to such Shelf Registration contains or would contain an untrue statement of a material fact regarding such Electing Holder
or such Electing Holder’s intended method of disposition of such Transfer Restricted Securities or omits to state any material fact regarding such Electing Holder or such Electing Holder’s intended method of disposition of such Transfer
Restricted Securities required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances then existing, and promptly to furnish to the Company any additional information required to correct and
update any previously furnished information or required so that such prospectus shall not contain, with respect to such electing Holder or the disposition of such Transfer Restricted Securities, an untrue statement of a material fact or omit to
state a material fact required to be stated therein or necessary to make the statements therein not misleading in light of the circumstances then existing. 
  
 (g) The Company will not, and will not permit any of its “affiliates” (as defined in Rule 144) to, resell any of the Securities
that have been reacquired by any of them except in a transaction or a chain of transactions not involving a public offering. 
  

 15 

 4. Registration Expenses. 
  
 The Company agrees to bear and to pay or cause to be paid promptly all expenses incident to the Company’s performance
of or compliance with this Exchange and Registration Rights Agreement, including (a) all Commission and any NASD registration, filing and review fees and expenses including fees and disbursements of counsel for the placement or sales agent or
underwriters in connection with such registration, filing and review, (b) all fees and expenses in connection with the qualification of the Securities for offering and sale under the State securities and blue sky laws referred to in Section
3(d)(xii) hereof and determination of their eligibility for investment under the laws of such jurisdictions as any managing underwriters or the Electing Holders may designate, including any fees and disbursements of counsel for the Electing Holders
or underwriters in connection with such qualification and determination, (c) all expenses relating to the preparation, printing, production, distribution and reproduction of each registration statement required to be filed hereunder, each prospectus
included therein or prepared for distribution pursuant hereto, each amendment or supplement to the foregoing, the expenses of preparing the Securities for delivery and the expenses of printing or producing any underwriting agreements, agreements
among underwriters, selling agreements and blue sky or legal investment memoranda and all other documents in connection with the offering, sale or delivery of Securities to be disposed of (including certificates representing the Securities), (d)
messenger, telephone and delivery expenses relating to the offering, sale or delivery of Securities and the preparation of documents referred in clause (c) above, (e) fees and expenses of the Trustee under the Indenture, any agent of the Trustee and
any counsel for the Trustee of any collateral agent or custodian, (f) internal expenses (including all salaries and expenses of the Company’s officers and employees performing legal or accounting duties), (g) fees, disbursements and expenses of
counsel and independent certified public accountants of the Company (including the expenses of any opinions or “cold comfort” letters required by or incident to such performance and compliance), (h) fees, disbursements and expenses of any
“qualified independent underwriter” engaged pursuant to Section 3(d)(xix) hereof, (i) fees, disbursements and expenses of one counsel for the Electing Holders retained in connection with a Shelf Registration, as selected by the Electing
Holders of at least a majority in aggregate principal amount of the Transfer Restricted Securities held by Electing Holders (which counsel shall be reasonably satisfactory to the Company), (j) any fees charged by securities rating services for
rating the Securities, and (k) fees, expenses and disbursements of any other persons, including special experts, retained by the Company in connection with such registration (collectively, the “Registration Expenses”). To the extent that
any Registration Expenses are incurred, assumed or paid by any holder of Transfer Restricted Securities or any placement or sales agent therefor or underwriter thereof, the Company shall reimburse such person for the full amount of the Registration
Expenses so incurred, assumed or paid promptly after receipt of a request therefor. Notwithstanding the foregoing, the holders of the Transfer Restricted Securities being registered shall pay all agency fees and commissions and underwriting
discounts and commissions and transfer taxes attributable to the sale of such Transfer Restricted Securities and the fees and disbursements of any counsel or other advisors or experts retained by such holders (severally or jointly), other than the
counsel and experts specifically referred to above. 
  

 16 

 5. Representations and Warranties. 
  
 The Company and the Guarantors represent and warrant to, and agree with, the Purchasers and each of the holders from time to
time of Transfer Restricted Securities that: 
  
 (a) Each registration statement covering Transfer Restricted Securities and each prospectus (including any preliminary or summary prospectus) contained therein or furnished pursuant to Section 3(d) or Section 3(c) hereof and any further
amendments or supplements to any such registration statement or prospectus, when it becomes effective or is filed with the Commission, as the case may be, and, in the case of an underwritten offering of Transfer Restricted Securities, at the time of
the closing under the underwriting agreement relating thereto, will conform in all material respects to the requirements of the Securities Act and the Trust Indenture Act and the rules and regulations of the Commission thereunder and will not
contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading; and at all times subsequent to the Effective Time when a prospectus would be
required to be delivered under the Securities Act, other than from (i) such time as a notice has been given to holders of Transfer Restricted Securities pursuant to Section 3(d)(viii)(F) or Section 3(c)(iii)(F) hereof until (ii) such time as the
Company furnishes an amended or supplemented prospectus pursuant to Section 3(e) or Section 3(c)(iv) hereof, each such registration statement, and each prospectus (including any summary prospectus) contained therein or furnished pursuant to Section
3(d) or Section 3(c) hereof, as then amended or supplemented, will conform in all material respects to the requirements of the Securities Act and the Trust Indenture Act and the rules and regulations of the Commission thereunder and will not contain
an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances then existing; provided, however, that this
representation and warranty shall not apply to any statements or omissions made in reliance upon and in conformity with information furnished in writing to the Company by a holder of Transfer Restricted Securities expressly for use therein.

  
 (b) Any documents incorporated by reference
in any prospectus referred to in Section 5(a) hereof, when they become or became effective or are or were filed with the Commission, as the case may be, will conform or conformed in all material respects to the requirements of the Securities Act or
the Exchange Act, as applicable, and none of such documents will contain or contained an untrue statement of a material fact or will omit or omitted to state a material fact required to be stated therein or necessary to make the statements therein
not misleading; provided, however, that this representation and warranty shall not apply to any statements or omissions made in reliance upon and in conformity with information furnished in writing to the Company by a holder of Transfer
Restricted Securities expressly for use therein. 
  
 (c) The compliance by the Company and the Guarantors with all of the provisions of this Exchange and Registration Rights Agreement and the consummation of the transactions herein contemplated will not conflict with or result in a breach of
any of the terms or provisions of, or constitute a default under, any indenture, mortgage, deed of trust, loan agreement or other agreement or instrument to which the Company, the Guarantors or their 

  

 17 

 
respective subsidiaries is a party or by which the Company, the Guarantors or their respective subsidiaries is bound or to which any of the property or
assets of the Company, the Guarantors or their respective subsidiaries is subject, nor will such action result in any violation of the provisions of the certificate of incorporation, as amended, or the by-laws of the Company or the Guarantors or any
statute or any order, rule or regulation of any court or governmental agency or body having jurisdiction over the Company, the Guarantors or their respective subsidiaries or their properties; and no consent, approval, authorization, order,
registration or qualification of or with any such court or governmental agency or body is required for the consummation by the Company and the Guarantors of the transactions contemplated by this Exchange and Registration Rights Agreement, except the
registration under the Securities Act of the Securities, qualification of the Indenture under the Trust Indenture Act and such consents, approvals, authorizations, registrations or qualifications as may be required under State securities or blue sky
laws in connection with the offering and distribution of the Securities. 
  
 (d) This Exchange and Registration Rights Agreement has been duly authorized, executed and delivered by the Company and each of the Guarantors. 
  
 6. Indemnification. 
  
 (a) Indemnification by the Company and the Guarantors. The Company and each of the Guarantors, jointly and severally, will
indemnify and hold harmless each of the holders of Transfer Restricted Securities included in an Exchange Registration Statement, each of the Electing Holders of Transfer Restricted Securities included in a Shelf Registration Statement and each
person who participates as a placement or sales agent or as an underwriter in any offering or sale of such Transfer Restricted Securities against any losses, claims, damages or liabilities, joint or several, to which such holder, agent or
underwriter may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon an untrue statement or alleged untrue statement of a material
fact contained in any Exchange Registration Statement or Shelf Registration Statement, as the case may be, under which such Transfer Restricted Securities were registered under the Securities Act, or any preliminary, final or summary prospectus
contained therein or furnished by the Company or any Guarantor to any such holder, Electing Holder, agent or underwriter, or any amendment or supplement thereto, or arise out of or are based upon the omission or alleged omission to state therein a
material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse such holder, such Electing Holder, such agent and such underwriter for any legal or other expenses reasonably incurred by them
in connection with investigating or defending any such action or claim as such expenses are incurred; provided, however, that neither the Company nor the Guarantors shall be liable to any such person in any such case to the extent that any
such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in such registration statement, or preliminary, final or summary prospectus, or amendment or
supplement thereto, in reliance upon and in conformity with written information furnished to the Company by such person expressly for use therein. 
  

 18 

 (b) Indemnification by the Holders and any Agents and Underwriters. The
Company and the Guarantors may require, as a condition to including any Transfer Restricted Securities in any registration statement filed pursuant to Section 2(b) hereof and to entering into any underwriting agreement with respect thereto, that the
Company and each of the Guarantors shall have received an undertaking reasonably satisfactory to it from the Electing Holder of such Transfer Restricted Securities and from each underwriter named in any such underwriting agreement, severally and not
jointly, to (i) indemnify and hold harmless the Company, the Guarantors, and all other holders of Transfer Restricted Securities, against any losses, claims, damages or liabilities to which the Company, the Guarantors or such other holders of
Transfer Restricted Securities may become subject, under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon an untrue statement or alleged untrue
statement of a material fact contained in such registration statement, or any preliminary, final or summary prospectus contained therein or furnished by the Company or any Guarantor to any such Electing Holder, agent or underwriter, or any amendment
or supplement thereto, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, in each case to the extent, but only
to the extent, that such untrue statement or alleged untrue statement or omission or alleged omission was made in reliance upon and in conformity with written information furnished to the Company by such Electing Holder or underwriter expressly for
use therein, and (ii) reimburse the Company and the Guarantors for any legal or other expenses reasonably incurred by the Company and the Guarantors in connection with investigating or defending any such action or claim as such expenses are
incurred; provided, however, that no such Electing Holder shall be required to undertake liability to any person under this Section 6(b) for any amounts in excess of the dollar amount of the proceeds to be received by such Electing Holder
from the sale of such Electing Holder’s Transfer Restricted Securities pursuant to such registration. 
  
 (c) Notices of Claims, Etc. Promptly after receipt by an indemnified party under subsection (a) or (b) above of written notice of
the commencement of any action, such indemnified party shall, if a claim in respect thereof is to be made against an indemnifying party pursuant to the indemnification provisions of or contemplated by this Section 6, notify such indemnifying party
in writing of the commencement of such action; but the omission so to notify the indemnifying party shall not relieve it from any liability which it may have to any indemnified party otherwise than under the indemnification provisions of or
contemplated by Section 6(a) or 6(b) hereof. In case any such action shall be brought against any indemnified party and it shall notify an indemnifying party of the commencement thereof, such indemnifying party shall be entitled to participate
therein and, to the extent that it shall wish, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with counsel reasonably satisfactory to such indemnified party (who shall not, except with the consent of the
indemnified party, be counsel to the indemnifying party), and, after notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof, such indemnifying party shall not be liable to such indemnified party
for any legal expenses of other counsel or any other expenses, in each case subsequently incurred by such indemnified party, in connection with the defense thereof other than reasonable costs of investigation. No indemnifying party shall, without
the written consent of the indemnified party, effect the settlement or compromise of, or consent 

  

 19 

 
to the entry of any judgment with respect to, any pending or threatened action or claim in respect of which indemnification or contribution may be sought
hereunder (whether or not the indemnified party is an actual or potential party to such action or claim) unless such settlement, compromise or judgment (i) includes an unconditional release of the indemnified party from all liability arising out of
such action or claim and (ii) does not include a statement as to, or an admission of fault, culpability or a failure to act by or on behalf of any indemnified party. 
  
 (d) Contribution. If for any reason the indemnification provisions contemplated by Section 6(a) or
Section 6(b) are unavailable to or insufficient to hold harmless an indemnified party in respect of any losses, claims, damages or liabilities (or actions in respect thereof) referred to therein, then each indemnifying party shall contribute to the
amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (or actions in respect thereof) in such proportion as is appropriate to reflect the relative fault of the indemnifying party and the
indemnified party in connection with the statements or omissions which resulted in such losses, claims, damages or liabilities (or actions in respect thereof), as well as any other relevant equitable considerations. The relative fault of such
indemnifying party and indemnified party shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact relates to information
supplied by such indemnifying party or by such 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 and equitable if contributions pursuant to this Section 6(d) were determined by pro rata allocation (even if the holders or any agents or underwriters or all of them were treated as one entity for such purpose) or by any other method of
allocation which does not take account of the equitable considerations referred to in this Section 6(d). The amount paid or payable by an indemnified party as a result of the losses, claims, damages, or liabilities (or actions in respect thereof)
referred to above shall be deemed to include any legal or other fees or expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section
6(d), no holder shall be required to contribute any amount in excess of the amount by which the dollar amount of the proceeds received by such holder from the sale of any Transfer Restricted Securities (after deducting any fees, discounts and
commissions applicable thereto) exceeds the amount of any damages which such holder has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission, and no underwriter shall be required to
contribute any amount in excess of the amount by which the total price at which the Transfer Restricted Securities underwritten by it and distributed to the public were offered to the public exceeds the amount of any damages which such underwriter
has otherwise been required to pay by reason of such untrue or all untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to
contribution from any person who was not guilty of such fraudulent misrepresentation. The holders’ and any underwriters’ obligations in this Section 6(d) to contribute shall be several in proportion to the principal amount of Transfer
Restricted Securities registered or under-written, as the case may be, by them and not joint. 
  

 20 

 (e) The obligations of the Company and the Guarantors under this Section 6 shall be in
addition to any liability which the Company or any of the Guarantors may otherwise have and shall extend, upon the same terms and conditions, to each officer, director and partner of each holder, agent and underwriter and each person, if any, who
controls any holder, agent or underwriter within the meaning of the Securities Act; and the obligations of the holders and any agents or underwriters contemplated by this Section 6 shall be in addition to any liability which the respective holder,
agent or underwriter may otherwise have and shall extent, upon the same terms and conditions, to each officer and director of the Company or the Guarantors (including any person who, with his or her consent, is named in any registration statement as
about to become a director of the Company or the Guarantors) and to each person, if any, who controls the Company within the meaning of the Securities Act. 
  
 7. Underwritten Offerings. 
  
 (a) Selection of Underwriters. If any of the Transfer Restricted Securities covered by the Shelf Registration are to be sold
pursuant to an underwritten offering, the managing underwriter or underwriters thereof shall be designated by Electing Holders holding at least a majority in aggregate principal amount of the Transfer Restricted Securities to be included in such
offering, provided that such designated managing underwriter or underwriters is or are reasonably acceptable to the Company. 
  
 (b) Participation by Holders. Each holder of Transfer Restricted Securities hereby agrees with each other such holder that no such
holder may participate in any underwritten offering hereunder unless such holder (i) agrees to sell such holder’s Transfer Restricted Securities on the basis provided in any underwriting arrangements approved by the persons entitled hereunder
to approve such arrangements and (ii) completes and executes all questionnaires, powers of attorney, indemnities, underwriting agreements and other documents reasonably required under the terms of such underwriting arrangements. 
  
 8. Rule 144 and Rule 144A. 
  
 The Company covenants to the holders of Transfer Restricted Securities that
to the extent it shall be required to do so under the Exchange Act, the Company shall timely file the reports required to be filed by it under the Exchange Act or the Securities Act (including the reports under section 13 and 15(d) of the Exchange
Act referred to in subparagraph (c)(1) of Rule 144 adopted by the Commission under the Securities Act) and the rules and regulations adopted by the Commission thereunder, and shall take such further action as any holder of Transfer Restricted
Securities may reasonably request, all to the extent required from time to time to enable such holder to, sell Transfer Restricted Securities without registration under the Securities Act within the limitations of the exemption provided by Rule 144
and Rule 144A under the Securities Act, as such Rule may be amended from time to time, or any similar or successor rule or regulation hereafter adopted by the Commission. Upon the request of any holder of Transfer Restricted Securities in connection
with that holder’s sale pursuant to Rule 144 or Rule 144A, the Company shall deliver to such holder a written statement as to whether it has complied with such requirements. 
  

 21 

 9. Miscellaneous. 
  
 (a) No Inconsistent Agreements. The Company and each of the Guarantors represents, warrants,
covenants and agrees that it has not granted, and shall not grant, registration rights with respect to Transfer Restricted Securities or any other securities which would be inconsistent with the terms contained in this Exchange and Registration
Rights Agreement. 
  
 (b) Specific
Performance. The parties hereto acknowledge that there would be no adequate remedy at law if the Company or any of the Guarantors fails to perform any of its obligations hereunder and that the Purchasers and the holders from time to time of the
Transfer Restricted Securities may be irreparably harmed by any such failure, and accordingly agree that the Purchasers and such holders, in addition to any other remedy to which they may be entitled at law or in equity, shall the entitled to compel
specific performance of the obligations of the Company and the Guarantors under this Exchange and Registration Rights Agreement in accordance with the terms and conditions of this Exchange and Registration Rights Agreement, in any court of the
United States or any State thereof having jurisdiction. 
  
 (c) Notices. All notices, requests, claims, demands, waivers and other communications hereunder shall be in writing and shall be deemed to have been duly given when delivered by hand, if delivered personally or
by courier, or three days after being deposited in the mail (registered or certified mail, postage prepaid, return receipt requested) as follows: If to the Company or the Guarantors, to any of them at One Tampa City Center, Suite 700, Tampa, Florida
33602, Attention: Robert Garcia, Jr., Esq. and if to a holder, to the address of such holder set forth in the security register or other records of the Company, or to such other address as the Company or any such holder may have furnished to the
other in writing in accordance herewith, except that notices of change of address shall be effective only upon receipt. 
  
 (d) Parties in Interest. All the terms and provisions of this Exchange and Registration Rights Agreement shall be binding upon,
shall inure to the benefit of and shall be enforceable by the parties hereto and the holders from time to time of the Transfer Restricted Securities and the respective successors and assigns of the parties hereto and such holders. In the event that
any transferee of any holder of Transfer Restricted Securities shall acquire Transfer Restricted Securities, in any manner, whether by gift, bequest, purchase, operation of law or otherwise, such transferee shall, without any further writing or
action of any kind, be deemed a beneficiary hereof for all purposes and such Transfer Restricted Securities shall be held subject to all of the terms of this Exchange and Registration Rights Agreement, and by taking and holding such Transfer
Restricted Securities such transferee shall be entitled to receive the benefits of, and be conclusively deemed to have agreed to be bound by all of the applicable terms and provisions of this Exchange and Registration Rights Agreement. If the
Company shall so request, any such successor, assign or transferee shall agree in writing to acquire and hold the Transfer Restricted Securities subject to all of the applicable terms hereof. 
  
 (e) Survival. The respective indemnities, agreements,
representations, warranties and each other provision set forth in this Exchange and Registration Rights Agreement or made 

  

 22 

 
pursuant hereto shall remain in full force and effect regardless of any investigation (or statement as to the results thereof) made by or on behalf of any
holder of Transfer Restricted Securities, any director, officer or partner of such holder, any agent or underwriter or any director, officer or partner thereof, or any controlling person of any of the foregoing, and shall survive delivery of and
payment for the Transfer Restricted Securities pursuant to the Purchase Agreement and the transfer and registration of Transfer Restricted Securities by such holder and the consummation of an Exchange Offer. 
  
 (f) Governing Law. This Exchange and Registration Rights
Agreement shall be governed by and construed in accordance with the laws of the State of New York. 
  
 (g) Headings. The descriptive headings of the several Sections and paragraphs of this Exchange and Registration Rights Agreement
are inserted for convenience only, do not constitute a part of this Exchange and Registration Rights Agreement and shall not affect in any way the meaning or interpretation of this Exchange and Registration Rights Agreement. 
  
 (h) Entire Agreement; Amendments. This Exchange and
Registration Rights Agreement and the other writings referred to herein (including the Indenture and the form of Securities) or delivered pursuant hereto which form a part hereof contain the entire understanding of the parties with respect to its
subject matter. This Exchange and Registration Rights Agreement supersedes all prior agreements and understandings between the parties with respect to its subject matter. This Exchange and Registration Rights Agreement may be amended and the
observance of any term of this Exchange and Registration Rights Agreement may be waived (either generally or in a particular instance and either retroactively or prospectively) only by a written instrument duly executed by the Company and the
holders of at least a majority in aggregate principal amount of the Transfer Restricted Securities at the time outstanding. Each holder of any Transfer Restricted Securities at the time or thereafter outstanding shall be bound by any amendment or
waiver effected pursuant to this Section 9(h), whether or not any notice, writing or marking indicating such amendment or waiver appears on such Transfer Restricted Securities or is delivered to such holder. 
  
 (i) Inspection. For so long as this Exchange and
Registration Rights Agreement shall be in effect, this Exchange and Registration Rights Agreement and a complete list of the names and addresses of all the holders of Transfer Restricted Securities shall be made available for inspection and copying
on any business day by any holder of Transfer Restricted Securities for proper purposes only (which shall include any purpose related to the rights of the holders of Transfer Restricted Securities under the Securities, the Indenture and this
Exchange and Registration Rights Agreement) at the offices of the Company at the address thereof set forth in Section 9(c) above and at the office of the Trustee under the Indenture. 
  
 (j) Counterparts. This Exchange and Registration Rights Agreement may be executed by the parties in
counterparts, each of which shall be deemed to be an original, but all such respective counterparts shall together constitute one and the same instrument. 
  

 23 

 If the foregoing is in accordance with your understanding, please sign and return to us one for the
Company, the Guarantors and each of the Representatives plus one for each counsel counterparts hereof, and upon the acceptance hereof by you, on behalf of the Purchasers, this letter and such acceptance hereof shall constitute a binding agreement
between the Purchasers, the Guarantors and the Company. 
  

			
	 Very truly yours,

	
	 Syniverse Technologies, Inc.

		
	 By
	 	 /s/ Raymond L. Lawless

	 	 	 Name:  Raymond L. Lawless

	 	 	 Title:    Chief Financial Officer and Secretary

	
	 Syniverse Holdings, Inc.

		
	 By
	 	 /s/ Raymond L. Lawless

	 	 	 Name:  Raymond L. Lawless

	 	 	 Title:    Chief Financial Officer and Secretary

	
	 Syniverse Brience, LLC

		
	 By
	 	 /s/ Raymond L. Lawless

	 	 	 Name:  Raymond L. Lawless

	 	 	 Title:    Chief Financial Officer and Secretary

	
	 Syniverse Technologies of Virginia, Inc.

		
	 By
	 	 /s/ Raymond L. Lawless

	 	 	 Name:  Raymond L. Lawless

	 	 	 Title:    Secretary and Treasurer

  

			
	 Accepted as of the date hereof:

	 LEHMAN BROTHERS INC.

		
	 By
	 	 /s/ Anthony Maniscalco

	 	 	 Name:  Anthony Maniscalco

	 	 	 Title:    Senior Vice President

  

 24 

			
	 Accepted as of the date hereof:

	 DEUTSCHE BANK SECURITIES INC.

		
	 By
	 	 /s/ Paul Cahalan

	 	 	 Name:  Paul Cahalan

	 	 	 Title:    Director

		
	 By
	 	 /s/David Crescenzi

	 	 	 Name:  David Crescenzi

	 	 	 Title:    Vice President

  

 25Amended Deferred Compensation Plan of AnnTaylor Stores Corporation

 Exhibit 10.1 
  
 As amended through August 18, 2005 
  
 ANNTAYLOR STORES CORPORATION 
 DEFERRED
COMPENSATION PLAN  
 PLAN DOCUMENT 
  

	1.	Purpose: The purpose of this AnnTaylor Stores Corporation Deferred Compensation Plan (the “Plan”) is to enable select employees of AnnTaylor Stores
Corporation (“Ann Taylor”) and its subsidiaries (collectively, the “Company”) to defer compensation in accordance with the terms and conditions set forth herein. 

  

	2.	Administration 

  

	 	a.	The Plan shall be administered by the Board of Directors of AnnTaylor Stores Corporation (the “Board”), by a committee thereof, or by a committee of three or more persons
appointed by the Board (the Board serving in such function, or such committee, or their respective delegate, hereinafter referred to as the “Committee”). 

  

	 	b.	The Committee shall have full power and authority to administer the Plan and otherwise to perform the duties and responsibilities specified hereunder. All determinations by the
Committee shall be binding and conclusive on all parties. Without limiting the foregoing, the Committee shall have the following specific powers and duties: 

  

	 	(i)	to interpret the provisions of the Plan and make any and all determinations arising thereunder; 

  

	 	(ii)	to maintain such records as it shall deem necessary or appropriate for the proper administration of the Plan; 

  

	 	(iii)	to establish such rules and procedures not inconsistent with the terms of the Plan as it shall deem necessary or appropriate to effectuate the purpose of the Plan.

  

	3.	Plan Year: The 1995 Plan Year shall commence on the effective date of the Plan and end on December 31, 1995. Beginning on January 1, 1996, the Plan Year shall be the
calendar year. 

  

	4.	 Eligible Employees: Eligibility to make deferrals under the Plan for any Plan Year shall be limited to those employees of the Company who, as of the day
prior to the start of such Plan Year, hold the title of vice president or above (the “Participants”), provided that certain employees hired during a Plan Year may be 

 
eligible to participate during such Plan Year at the discretion of the Committee. Employees who hold the title of vice president or above as of the effective
date of the Plan shall be eligible to participate in the 1995 Plan Year. 
  

	5.	Deferral of Compensation 

  

	 	a.	Subject to such restrictions and limitations as the Committee may impose, each Participant may elect, in writing on a form or forms prescribed by the Committee and at the time
prescribed below, to have the Company defer payment (expressed in whole percentages) of (1) up to 25% of the Participant’s Compensation (as defined herein) with respect to a Plan Year, or (2) up to 100% of the Participant’s Incentive
Compensation (as defined herein) with respect to a Plan Year. For purposes hereof, (i) the term “Compensation” with respect to a Plan Year shall mean the total salary and Incentive Compensation (as defined herein) earned by the Participant
for services rendered in respect of such Plan Year (without regard to his or her deferral election hereunder), and (ii) the term “Incentive Compensation” with respect to a Plan Year shall mean all incentive compensation (attributable to
“incentive compensation periods” which begin during the Plan Year) earned by the Participant for services rendered in respect of such Plan Year (without regard to his or her deferral election hereunder). For this purpose, Performance
Compensation paid or earned under the AnnTaylor Stores Corporation Management Performance Compensation Plan shall be considered Incentive Compensation. Deferrals of salary shall be effected through payroll deductions. For purposes of the 1995 Plan
Year, (1) a Participant’s salary to be included as Compensation shall be limited to salary earned during pay periods which commence after the effective date of the Plan and (2) Incentive Compensation shall be limited to the incentive
compensation attributable to the “incentive compensation period” commencing in August 1995 shall be included as Incentive Compensation hereunder. 

  

	 	b.	Any election made pursuant to subparagraph (a) above to defer Compensation or Incentive Compensation shall be submitted to the Committee at such time prior to the beginning of the
Plan Year with respect to which such Compensation will be earned as the Committee shall determine, and such election shall become irrevocable as of the commencement of such Plan Year, provided that, in the first Plan Year in which a Participant
becomes eligible to participate in the Plan, such election may be made within 30 days after the date the Participant becomes eligible to participate in the Plan. For the 1995 Plan Year, any election pursuant to subparagraph (a) above shall be
submitted to the Committee prior to the effective date of the Plan. 

  

	6.	Deferred Compensation Account: The Company shall establish a memorandum account (“Deferred Compensation Account”) for each Participant in the Plan. A
Participant’s Deferred Compensation Account shall be (i) credited 

 with all amounts deferred by the Participant under the Plan as of the date such amounts would otherwise
have been paid to such Participant, and (ii) charged with any distributions made with respect to the Participant pursuant to Paragraph 7. A Participant’s Deferred Compensation Account will be credited quarterly on the last day of each calendar
quarter with any amount representing interest at an annual rate equal to the one-year Treasury constant maturity rate determined as of the first day of each Plan Year, plus two percentage points. 
  

	7.	Payment of Deferred Compensation 

  

	 	a.	Except as otherwise provided in subparagraphs (b), (c) or (d) below, the amount then credited to a Participant’s Deferred Compensation Account shall be paid to him or her by
the Company, in a single lump sum cash payment (less any mandatory withholding as provided in Paragraph 12 hereof), as soon as practicable following January 1 of the calendar year following the Participant’s termination of employment with the
Company. The foregoing notwithstanding, any Participant who is considered a “specified employee” under section 409A of The Internal Revenue Code of 1986, as amended, and the regulations promulgated thereunder (“Section 409A”), as
of the date the Participant’s employment is terminated, will not be entitled to any such distribution until at least six months after the termination of employment. 

  

	 	b.	In the event of the Participant’s termination of employment by reason of death or Disability (as defined herein), the Company shall pay to such Participant (or to such
Participant’s Beneficiary, as defined in Paragraph 8 hereof), in a single lump sum cash payment, the amount then credited to such Participant’s Deferred Compensation Account (less any mandatory withholding as provided in Paragraph 12
hereof) as soon as practicable following the date of termination of employment due to the Participant’s death or Disability. For purposes hereof, a “Disability” shall exist if the Participant (i) is unable to engage in any substantial
gainful activity by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, or (ii) is, by reason of any medically
determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, receiving income replacement benefits for a period of not less than 3 months under the
Company’s long-term disability plan. 

  

	 	c.	In the event that a Participant incurs a severe financial hardship occasioned by accident, illness or similar extraordinary and unforeseeable emergency beyond the control of the
Participant, the Committee, in its sole discretion and upon written application of such Participant, may authorize immediate payment of all or a portion of the amount then credited to such Participant’s Deferred Compensation Account (less any

 mandatory withholding as provided in Paragraph 12 hereof) (a “Hardship Withdrawal”); provided
that such payment shall in no event exceed the amount necessary to alleviate such financial hardship. The circumstances that will give rise to the approval of a Hardship Withdrawal will depend upon the facts of each case, but, in any case, payment
under this subparagraph (c) may not be made to the extent that such hardship is or may be relieved (i) through reimbursement or compensation by insurance or otherwise, (ii) by liquidation of the Participant’s assets, to the extent the
liquidation of such assets would not itself cause severe financial hardship, or (iii) by cessation of deferrals under the Plan. 
  

	 	d.	In the event of a Change in Control (as defined in subparagraph (e) hereof), the Company shall pay each Participant the amount then credited to such Participant’s Deferred
Compensation Account in a single lump sum cash payment (less any mandatory withholding as provided in Paragraph 12 hereof) as soon as practicable thereafter, provided that amounts deferred after December 31, 2004, including amounts relating to
Incentive Compensation with respect to the 2004 Plan Year which were paid in 2005, will not be distributed pursuant to this Section 7(d) unless the event also qualifies as a change in control pursuant to the definition in Section 409A. For purposes
of clarification, unless a Change in Control is deemed to have occurred in accordance with Section 409A and subparagraph (e) hereof, all amounts credited to such Participant’s Deferred Compensation Account shall be distributed in accordance
with subparagraphs (a) through (c) hereof. 

  

	 	e.	A “Change in Control” shall be deemed to have occurred if the conditions set forth in any one of the following paragraphs shall have been satisfied:

  

	 	(i)	any “person”, as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), other than (1) the
Company, (2) Merrill Lynch & Co. or any affiliate thereof, which for purposes of this Agreement shall include First Capital Partners Inc. and its affiliates (collectively “ML”), (3) any trustee or other fiduciary holding securities
under an employee benefit plan of the Company, or (4) any corporation owned, directly or indirectly, by the stockholders of Ann Taylor in substantially the same proportion as their ownership of shares of common stock of Ann Taylor (a
“Person”), is or becomes the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of Ann Taylor representing 30% or more of the combined voting power of Ann Taylor’s
then outstanding voting securities (not including the securities beneficially owned by such Person securities acquired directly from ML representing in excess of 15% of the combined voting power of Ann Taylor’s then outstanding voting
securities but including any such securities acquired directly from ML representing up to 15% of such combined voting power); 

	 	(ii)	during any period of not more than two consecutive years, individuals who at the beginning of such period constitute the Board, and any new director (other than a director
designated by a person who has entered into an agreement with Ann Taylor to effect a transaction described in clause (i), (iii), or (iv) of this Paragraph 7(e)) whose election by the Board or nomination for election by Ann Taylor’s stockholders
was approved by a vote of at least two-thirds (2/3) of the directors then still in office who either were directors at the beginning of the period or whose election or nomination for election was previously so approved, cease for any reason to
constitute at least a majority thereof; 

  

	 	(iii)	the stockholders of Ann Taylor approve a merger or consolidation of Ann Taylor with any other corporation, other than (1) a merger or consolidation which would result in the voting
securities of Ann Taylor outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving or parent entity) 50% or more of the combined voting power of the
voting securities of Ann Taylor or such surviving or parent entity outstanding immediately after such merger or consolidation or (2) a merger or consolidation effected to implement a recapitalization of Ann Taylor (or similar transaction) in which
no Person is or becomes the beneficial owner (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of Ann Taylor representing 30% or more of the combined voting power of Ann Taylor’s then outstanding
securities (not including the securities beneficially owned by such Person securities acquired directly from ML representing in excess of 15% of the combined voting power of Ann Taylor’s then outstanding voting securities but including any such
securities acquired directly from ML representing up to 15% of such combined voting power); or 

  

	 	(iv)	the stockholders of Ann Taylor approve a plan of complete liquidation of Ann Taylor or an agreement for the sale or disposition by Ann Taylor of all or substantially all of Ann
Taylor’s assets (or any transaction having a similar effect). 

  

	8.	Designation of Beneficiary: A Participant may designate a Beneficiary or Beneficiaries to receive any amount due him or her hereunder at his or her death by executing
a form prescribed by the Committee and delivering it to the Committee at any time prior to his or her death. A participant may revoke or change his or her Beneficiary designation without the Beneficiary’s consent by executing a new form and
delivering it to the Committee at any time and from 

 time to time prior to his or her death. If a Participant shall have failed to designate a Beneficiary, or
if no such Beneficiary shall survive him or her, then such amounts shall be paid to his or her spouse, if then living, or, if not, to his or her estate. 
  

	9.	Other Employee Benefits: Any Compensation deferred and any benefits paid under the Plan shall not be included in creditable compensation in computing benefits under
any employee benefit plans of the Company, except to the extent provided for thereunder. 

  

	10.	No Right to Employment: Nothing contained herein shall be construed as conferring upon any Participant the right to continue in the employ of the Company.

  

	11.	Deferred Compensation as an Unsecured Promise: The Company shall not segregate any funds representing the Deferred Compensation Accounts of Participants hereunder, and
nothing in the Plan shall be construed as providing for such segregation. All payments provided for under the Plan shall be paid in cash from general assets of the Company. Nothing the Plan, and no action taken pursuant to its terms, shall create or
be construed to create a trust or escrow account of any kind, or a fiduciary relationship between the Committee or the Company and any Participant, designated Beneficiary or any other person. The Participants, their designated Beneficiaries and any
other persons under the Plan, shall rely solely on the unsecured promise of the Company to make payments required hereunder, but shall have the right to enforce such a claim in the same manner as any unsecured general creditor of the Company.

  

	12.	Withholding: The Company shall deduct and withhold from any payments made hereunder all sums which it then may be required to deduct or withhold pursuant to any
applicable statute, law, regulation or order of any jurisdiction whatsoever. 

  

	13.	No Assignment: No Participant, designated Beneficiary, or any other person entitled to any payment hereunder shall have the power to transfer, assign, anticipate,
mortgage or otherwise encumber any right to receive a payment in advance of any such payment, and any attempted transfer, assignment, anticipation, mortgage or encumbrance shall be void. 

  

	14.	Obligations to the Company: If a Participant becomes entitled to a distribution of benefits under the Plan, and if at such time the Participant has outstanding any
debt, obligation, or other liability representing an amount owed to the Company, then the Company may offset such amounts owed to it against the amount of benefits otherwise distributable. 

  

	15.	Amendment and Termination: The Board reserves the absolute right to amend or terminate the Plan, in whole or in part, at any time and from time to time, provided that
no such amendment or termination shall adversely affect the right 

 of any Participant or Beneficiary hereunder to receive payment of any benefits deferred hereunder prior
to the date of such amendment or termination. Notwithstanding the foregoing or any other provision of the Plan, upon termination of the Plan, the Committee, in its sole discretion, may accelerate payment of all benefits deferred hereunder in such
manner as it shall determine. Notwithstanding the foregoing, in the event that the Committee determines that accelerated payment of benefits under the Plan would be adverse to a Participant under any applicable law, such Participant’s benefits
will be paid in accordance with Section 7. 
  

	16.	Distribution of Plan Amendments; Acknowledgments 

  

	 	a.	The Committee shall furnish each Participant with a copy of the Plan prior to his or her initial deferral election hereunder. In addition, the Committee shall furnish each
Participant, or in the case of a deceased Participant, his or her Beneficiary, with a copy of any amendment of the Plan. 

  

	 	b.	Each Participant, prior to or simultaneously with his or her initial deferral election, shall acknowledge receipt of a copy of the Plan. Such acknowledgment shall constitute an
agreement by the Participant that the Participant, his or her Beneficiary and any representatives shall be bound by all of the terms and conditions of the Plan. 

  

	17.	Governing Law: Except to the extent preempted by federal law, the Plan shall be governed by and construed in accordance with the laws of the State of Delaware.

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