Document:

EX-10.1

 Exhibit 10.1 
  

 
  

SHIELDS HEALTH SOLUTIONS PARENT, LLC 

SECOND AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT 

Dated as of [___], 2021 
  

 
  

 TABLE OF CONTENTS 

 

					
	 	  	Page	 
		
	 Article I. DEFINITIONS
	  	 	1	 
	 Section 1.1. Definitions
	  	 	1	 
	 Section 1.2. Terms Generally
	  	 	17	 
		
	 Article II. GENERAL PROVISIONS
	  	 	17	 
		
	 Section 2.1. Formation
	  	 	17	 
	 Section 2.2. Name
	  	 
	17
	 

	 Section 2.3. Term
	  	 
	17
	 

	 Section 2.4. Purpose; Powers
	  	 
	17
	 

	 Section 2.5. Foreign Qualification
	  	 	18	 
	 Section 2.6. Registered Office; Registered Agent; Offices
	  	 	18	 
	 Section 2.7. Partnership Status
	  	 	18	 
	 Section 2.8. Rights and Privileges of Initial Classes of Units; Voting
	  	 	18	 
	 Section 2.9. Ownership and Issuance of Units
	  	 	19	 
		
	 Article III. MANAGEMENT
	  	 	20	 
		
	 Section 3.1. Establishment of the Board
	  	 	20	 
	 Section 3.2. Board Composition
	  	 	20	 
	 Section 3.3. The Board of Managers; Delegation of Authority and Duties
	  	 	21	 
	 Section 3.4. Board Meetings
	  	 	23	 
	 Section 3.5. Action by Written Consent or Telephone Conference
	  	 	24	 
	 Section 3.6. Officers
	  	 	24	 
	 Section 3.7. Liability of Members
	  	 	25	 
	 Section 3.8. Indemnification and Exculpation by the Company
	  	 	26	 
	 Section 3.9. Duties
	  	 	27	 
		
	 Article IV. MEMBERS’ RIGHTS
	  	 	28	 
		
	 Section 4.1. Action Without a Meeting
	  	 	28	 
	 Section 4.2. Seller Group Consent Rights
	  	 	28	 
	 Section 4.3. Information Rights
	  	 	30	 

  
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 TABLE OF CONTENTS 

(continued) 
  

					
	 	  	Page	 
	 Article V. CAPITAL CONTRIBUTIONS; ALLOCATIONS; DISTRIBUTIONS
	  	 	30	 
	 Section 5.1. Capital Contributions
	  	 	30	 
	 Section 5.2. Capital Accounts
	  	 	31	 
	 Section 5.3. Allocations of Net Income and Net Loss
	  	 	31	 
	 Section 5.4. Distributions
	  	 	32	 
	 Section 5.5. Right of Set-Off
	  	 	35	 
		
	 Article VI. WITHDRAWAL; DISSOLUTION; NEW AND SUBSTITUTE MEMBERS
	  	 	35	 
		
	 Section 6.1. Withdrawal
	  	 	35	 
	 Section 6.2. Dissolution
	  	 	35	 
	 Section 6.3. Transfer of Units
	  	 	36	 
	 Section 6.4. New and Substitute Members
	  	 	37	 
	 Section 6.5. Compliance with Law
	  	 	37	 
		
	 Article VII. TRANSFERS
	  	 	37	 
		
	 Section 7.1. Transfers
	  	 	37	 
	 Section 7.2. WCAS Group Blocker Corporation/UMass Blocker Corporation
	  	 	39	 
	 Section 7.3. Securities Law Compliance
	  	 	39	 
	 Section 7.4. Certificates
	  	 	39	 
	 Section 7.5. Representations of Members
	  	 	39	 
		
	 Article VIII. TAG-ALONG RIGHTS
	  	 	41	 
		
	 Section 8.1. Tag-Along Sale
	  	 	41	 
	 Section 8.2. Closing of Tag-Along Sale
	  	 	43	 
		
	 Article IX. Put/Call Rights
	  	 	43	 
		
	 Section 9.1. Put/Call Rights
	  	 	43	 
	 Section 9.2. Calculation of Exercise Price
	  	 	45	 
	 Section 9.3. Closing
	  	 	47	 
	 Section 9.4. Dispute Resolution Procedures
	  	 	48	 
		
	 Article X. MANAGEMENT REPURCHASE
	  	 	49	 
		
	 Section 10.1. Repurchase Option
	  	 	49	 
	 Section 10.2. Manner of Payment
	  	 	51	 

  
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 TABLE OF CONTENTS 

(continued) 
  

					
	 	  	Page	 
		
	 Article XI. PREEMPTIVE RIGHTS
	  	 	51	 
		
	 Section 11.1. Grant of Preemptive Rights
	  	 	51	 
	 Section 11.2. Notice of Eligible Issuance
	  	 	51	 
		
	 Article XII. COVENANTS
	  	 	52	 
		
	 Section 12.1. Confidential Information
	  	 	52	 
	 Section 12.2. Restrictive Covenants
	  	 	53	 
		
	 Article XIII. REPORTS TO MEMBERS; TAX AND ERISA MATTERS
	  	 	55	 
		
	 Section 13.1. Books of Account
	  	 	55	 
	 Section 13.2. Reports
	  	 	55	 
	 Section 13.3. Fiscal Year
	  	 	56	 
	 Section 13.4. Certain Tax Matters
	  	 	56	 
	 Section 13.5. Partnership Representative
	  	 	56	 
	 Section 13.6. Section 754 Election
	  	 	57	 
		
	 Article XIV. CONVERSION TO CORPORATION
	  	 	57	 
		
	 Section 14.1. Conversion to C Corporation
	  	 	57	 
	 Section 14.2. Blocker Corporations
	  	 	58	 
	 Section 14.3. Tax Receivables Agreement
	  	 	58	 
	 Section 14.4. IPO Initiation
	  	 	59	 
	 Section 14.5. Further Assurances
	  	 	60	 
		
	 Article XV. MISCELLANEOUS
	  	 	60	 
		
	 Section 15.1. Governing Law
	  	 	60	 
	 Section 15.2. Successors and Assigns
	  	 	61	 
	 Section 15.3. Amendments and Waivers
	  	 	61	 
	 Section 15.4. Notices
	  	 	61	 
	 Section 15.5. Counterparts
	  	 	62	 
	 Section 15.6. Entire Agreement
	  	 	62	 
	 Section 15.7. Jurisdiction
	  	 	62	 
	 Section 15.8. Section Titles
	  	 	62	 
	 Section 15.9. Termination of Certain Provisions
	  	 	62	 
	 Section 15.10. Intended Third Party Beneficiaries
	  	 	62	 

  

  
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 SECOND AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT 

OF 
 SHIELDS HEALTH SOLUTIONS
PARENT, LLC 
 A Delaware Limited Liability Company 

THIS SECOND AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT of SHIELDS HEALTH SOLUTIONS PARENT, LLC, a Delaware limited liability
company (the “Company”), is dated and effective as of [•], 2021 (the “Effective Date”) and is adopted, executed and agreed to by and among (i) the Company, (ii) the Members,
(iii) with respect to Section 7.1 and Articles VIII, X and XII, the Beneficial Owners and (iv) with respect to Articles X and Article XII, the Walgreens Parent. 

W I T N E S S E T H: 

WHEREAS, on July 12, 2019, (the “Original Formation Date”), a Certificate of Formation with respect to the
Company was filed with the Secretary of State of the State of Delaware thereby forming the Company as a limited liability company under the Act; 

WHEREAS, on August 19, 2019, the Company and the other parties thereto entered into an Amended and Restated Limited Liability Company
Agreement of the Company (the “First A&R LLC Agreement”); and 
 WHEREAS, the parties desire to enter into this
Agreement in order to amend and restate the First A&R LLC Agreement and provide for, among other things, (a) the management of the business and affairs of the Company, (b) the allocation among the Members of the profits and losses of
the Company and (c) the respective rights and obligations of the parties to each other with respect to the Company. 
 NOW THEREFORE,
in consideration of the mutual covenants and agreements contained herein, the parties hereto, each intending to be legally bound, agree as follows: 

ARTICLE I. 
 DEFINITIONS

 Section 1.1.Definitions. The following terms shall have the following meanings for purposes of this Agreement: 

“Act” means the Delaware Limited Liability Company Act, Title 6, §§ 18-101,
et seq., as it may be amended from time to time. 

 “Additional Member” means any Person that has been admitted to the Company
as a Member pursuant to Section 6.4 by virtue of having received its Units from the Company and not from any other Member. 

“Adjusted EBITDA” has the meaning assigned to such term in the Senior Credit Facility. 

“Affiliate” means, with respect to any specified Person at any time, each Person directly or indirectly controlling,
controlled by or under direct or indirect common control with such specified Person at such time. 
 “After-Acquired
Business” has the meaning set forth in Section 12.2(a). 
 “After-Acquired Company” has
the meaning set forth in Section 12.2(a). 
 “Agents” has the meaning set forth in
Section 12.1(b). 
 “Agreement” means this Second Amended and Restated Limited Liability Company
Agreement of the Company, as the same may be amended, modified or supplemented from time to time in accordance with the terms hereof. 

“Available Securities” has the meaning set forth in Section 10.1(a). 

“Basis Step-up” has the meaning set forth in Section 14.3.

 “Beneficial Owners” means each of the Persons listed on Schedule C and any transferee of any Securities held by
such Persons that results in such transferee beneficially owning any Units. Schedule C further lists the entities each Beneficial Owner has an interest in that directly or indirectly owns Units. For purposes of Article XII, Beneficial
Owners shall also include the Walgreens Parent. 
 “Blocker Corporation” has the meaning set forth in
Section 14.2. 
 “Blocker Corporation Merger” has the meaning set forth in
Section 14.2. 
 “Board” has the meaning set forth in Section 3.1(a).

 “Board Voting Percentage” has the meaning set forth in Section 3.3(d). 

“Budget Act” means Title XI of the Bipartisan Budget Act of 2015, Public Law No:
114-74 (2015) and any Regulations promulgated thereunder. 
 “Business” means the
business of managing not-for-profit health system-owned specialty pharmacies. 

“Business Day” means a day other than a Saturday or Sunday or other day on which commercial banks in Boston, Massachusetts
are authorized or required by law to close. 
 “Call” has the meaning set forth in
Section 9.1(c). 

  
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 “Call Closing” has the meaning set forth in
Section 9.3. 
 “Call Exercise Price Notice” has the meaning set forth in
Section 9.2(b). 
 “Call Notice” has the meaning set forth in
Section 9.1(c). 
 “Call Objection” has the meaning set forth in
Section 9.2(c). 
 “Call Resolution Period” has the meaning set forth in
Section 9.2(d). 
 “Call Review Period” has the meaning set forth in
Section 9.2(c). 
 “Call Right” has the meaning set forth in
Section 9.1(c). 
 “Call Seller” has the meaning set forth in
Section 9.1(c). 
 “Call Units” means the number of Common Units, WCAS Blocker Units, or
Exchanged Units (after effecting a Management Incentive Unit Contribution and Exchange for all of the applicable holder’s Vested Management Incentive Units) subject to a Call Right or Clean-Up Call Right,
as applicable. 
 “Capital Account” means, with respect to any Members, the account maintained for such Members in
accordance with the following provisions: 
 (a) To each Member’s Capital Account there shall be added such
Member’s Capital Contributions, such Member’s allocable share of Net Income and any items in the nature of income or gain which are specially allocated to such Member pursuant to Section 5.3(b) hereof, and the
amount of any Company liabilities assumed by such Member or which are secured by any property distributed to such Member. 

(b) From each Member’s Capital Account there shall be subtracted the amount of cash and the Gross Asset Value of any
property distributed to such Member pursuant to any provision of this Agreement, such Member’s allocable share of Net Losses and any items in the nature of expenses or losses which are specially allocated to such Member pursuant to
Section 5.3(b) hereof, and the amount of any liabilities of such Member assumed by the Company or which are secured by any property contributed by such Member to the Company. 

(c) In the event any Unit is transferred in accordance with the terms of this Agreement, the transferee shall succeed to the
Capital Account of the transferor to the extent it relates to the transferred Unit. 
 (d) In determining the amount of any
liability for purposes of subparagraphs (a) and (b) hereof, there shall be taken into account Code Section 752(c) and any other applicable provisions of the Code and Regulations. 

(e) The foregoing provisions and the other provisions of this Agreement relating to the maintenance of Capital Accounts are
intended to comply with Code Section 704(b) and the Regulations promulgated thereunder, and shall be interpreted and applied by the Board in a manner consistent with such Regulations. 

  
 -3- 

 “Capital Contribution” means the amount of cash and the initial Gross Asset
Value of any property (other than cash) contributed from time to time to the Company by a Member. 
 “Cash” shall mean, as
of any time of determination, the aggregate amount of all cash and cash equivalents, bank and other depositary accounts and safe deposit boxes, commercial paper, treasury bills, short-term investments, other wire transfers and drafts deposited or
received and available for deposit, demand accounts, certificates of deposit, marketable securities, short-term deposits and other similar cash items of the Company and its Subsidiaries. 

“Cause” means (i) with respect to a Management Member who has an employment agreement with the Company or a Subsidiary
thereof that defines such term or similar term, the meaning given to such term or similar term in such employment agreement, and (ii) with respect to any other Management Member, any of the following, as determined in good faith by the Board,
(a) the material breach by such Management Member of this Agreement which is not cured within thirty (30) days following written notice of such breach to such Management Member describing the material breach in reasonable detail;
provided, however, that if such breach is not capable of being cured, no such cure period shall be applicable, (b) the material breach by such Management Member of any agreement relating to employment, non-competition or non-solicitation with the Company or any of the its Subsidiaries which is not cured within thirty (30) days following written notice of such breach to
such Management Member describing the material breach in reasonable detail; provided, however, that if such breach is not capable of being cured, no such cure period shall be applicable, (c) the repeated willful or intentional
failure, after written notice describing such failure in reasonable detail, to follow the reasonable directives of a supervisor or the Board (or the equivalent governing body of any Subsidiary that is the employer of such Management Member), (d) the
repeated willful or intentional failure, after written notice describing such failure in reasonable detail, to observe all material policies of the Company or its Subsidiaries generally applicable to employees of the Company or its Subsidiaries, as
the case may be, (e) the gross negligence, intentional misconduct or unethical conduct by such Management Member in the performance of his or her duties which is harmful to the Company or its Subsidiaries or their reputation, including conduct
that is harassing or discriminating to or against other employees of the Company or its Subsidiaries, (f) the commission of any act of fraud, embezzlement, moral turpitude, sexual misconduct, misappropriation of property or dishonesty with
respect to the Company or its Subsidiaries or any of their respective employees, vendors, suppliers or customers or (g) such Management Member shall have been convicted of, or shall have pleaded guilty or nolo contendere to, any felony or act
involving moral turpitude. 
 “Certificate” has the meaning set forth in Section 2.1. 

“Class” or “Classes” means, the different classes of Units from time to time outstanding (which are
initially the Common Units). 
 “Clean-Up Call” has the meaning set forth in
Section 9.1(e). 
 “Clean-Up Call Right” has the meaning
set forth in Section 9.1(e). 

  
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 “Clean-Up Put” has the meaning set
forth in Section 9.1(e). 
 “Clean-Up Put Right” has the
meaning set forth in Section 9.1(e). 
 “Clean-Up Put
Window” has the meaning set forth in Section 9.1(e). 

“Clean-Up Put/Call Date” has the meaning set forth in
Section 9.1(e). 
 “Code” means the Internal Revenue Code of 1986, as amended, from time to time,
or any successor statute. Any reference herein to a particular provision of the Code shall mean, where appropriate, the corresponding provision in any successor statute. 

“Common Unit Certificate” means the certificate and/or agreement to be executed by the Company and each holder of Management
Incentive Units upon the issuance of such Management Incentive Units to such Person, providing for terms and conditions relating to such Management Incentive Units, including, if applicable, the vesting and termination of such Management Incentive
Units, in each case as determined by the Board. 
 “Common Unit Reduction Amount” has the meaning set forth in
Section 5.4(c). 
 “Common Units” means the common membership interests of the Company designated
as “Common Units” and having the relative rights, preferences, privileges, limitations and qualifications set forth in this Agreement. 

“Company Equity Securities” has the meaning set forth in Section 7.1(a). 

“Company Plan” means any equity incentive or severance plan, arrangement or agreement of the Company. 

“Confidential Information” means oral and written information concerning the Company or its Subsidiaries or their respective
businesses or operations furnished to any Member or Agent thereof by or on behalf of the Company or any Subsidiary or Affiliate thereof (irrespective of the form of communication and whether such information is so furnished before, on or after the
Effective Date), and all analyses, compilations, data, studies, notes, interpretations, memoranda or other documents prepared by any Member or any Agent thereof containing or based in whole or in part on any such furnished information;
provided, that the term “Confidential Information” does not include any information which (i) at the time of disclosure is or thereafter becomes generally available to the public (other than as a result of a disclosure directly
or indirectly by such Member or any Agent thereof in violation of Section 12.1) or (ii) is or becomes available to such Member on a non-confidential basis from a source other
than the Company or its agents, representatives or advisors; provided that such source was not known by such Member, after reasonable investigation, to be prohibited from disclosing such information to such Member by a legal, contractual or
fiduciary obligation. 
 “Debt” of any Person means without duplication, (a) all indebtedness of such Person for
borrowed money, (b) all indebtedness of such Person evidenced by notes, bonds, debentures or other similar instruments, (c) all obligations of such Person for the deferred purchase price of property or services that in accordance with GAAP
would be shown as a liability on the 

  
 -5- 

 
balance sheet of such Person (other than accounts payable that are payable not more than one year after the date of incurrence), (d) any obligations of such Person to pay rent or other amounts
under a lease of (or other agreement conveying the right to use) any property (whether real, personal or mixed) that is or is required to be classified and accounted for as a capital lease obligation under GAAP, (e) all obligations, contingent
or otherwise, of such Person under acceptance, letter of credit or similar facilities, (f) all Debt of others referred to in clauses (a) through (e) above guaranteed directly or indirectly by such Person, and (g) all Debt referred to
in clauses (a) through (f) above secured by (or for which the holder of such Debt has an existing right, contingent or otherwise, to be secured by) any lien on property (including, without limitation, accounts and contract rights) owned by such
Person, even though such Person has not assumed or become liable for the payment of such Debt. 
 “Depreciation” means, for
each fiscal year or other period, an amount equal to the depreciation, amortization or other cost recovery deduction allowable for federal income tax purposes with respect to an asset for such year or other period, except that if the Gross Asset
Value of an asset differs from its adjusted basis for federal income tax purposes at the beginning of such year or other period, Depreciation shall be an amount which bears the same ratio to such beginning Gross Asset Value as the federal income tax
depreciation, amortization or other cost recovery deduction for such year or other period bears to such beginning adjusted tax basis; provided, that if the federal income tax depreciation, amortization or other cost recovery deduction for
such year is zero, Depreciation shall be calculated with reference to such beginning Gross Asset Value using any reasonable method selected by the Board. 

“Designated Affiliate” means (i) in the case of a Member that is not a natural person, to an Affiliate of such Member
and (ii) in the case of a Member who is a natural person, in connection with estate planning by such Member to such Member’s parents, spouse and lineal descendants and the lineal descendants of such Member’s parents or spouse, or
trusts for the benefit of, or corporations, limited liability companies or partnerships, the stockholders, members or general and/or limited partners of which include, only such Member and/or Member’s parents, spouse or lineal descendants or
the lineal descendants of such Member’s parents or spouse; provided, further, that Units may be transferred to a minor or an incompetent. 

“Distributable Assets” means, with respect to any fiscal period, all cash receipts (including from any operating, investing,
and financing activities) and other assets of the Company from any and all sources, reduced by operating expenses, contributions of capital to Subsidiaries, investments and payments required to be made in connection with any loan to the Company and
any reserve for contingencies or escrow required, in the judgment of the Board acting in good faith. 
 “Distribution
Threshold” means, with respect to any Management Incentive Unit, an amount specified by the Board at the time of its issuance, provided, that such amount shall not be less than (x) the amount of distributions to which such
Management Incentive Unit would be entitled (if its Distribution Threshold were zero (0)) under Section 5.4(b) if, immediately after the issuance of such Management Incentive Unit all the assets of the Company were sold for
their respective fair market values (as determined by the Board in its sole discretion), the liabilities of the Company were paid in full, and the remaining proceeds were distributed in accordance with Section 5.4(b), minus
(y) any amount contributed in respect of such Management Incentive Unit. The Board may increase any Distribution Threshold with respect to outstanding Management Incentive Units in connection with any capital contribution made to the Company
following the issuance of such Management Incentive Units. 

  
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 “Effective Date” means [•], 2021. 

“Eligible Issuance” means the issuance by the Company to any Person or Persons (including any of the Members or their
Affiliates) of any Company Equity Securities, other than: 
 (a) the issuance on the Effective Date of the Units described on
Schedule A; 
 (b) an issuance by the Company of any Company Equity Securities in connection with or pursuant to a
Company Plan approved by the Board; 
 (c) an issuance by the Company of Company Equity Securities issued as consideration in
any bona fide business acquisition by the Company or any Subsidiary thereof, whether by merger, consolidation, purchase of assets or otherwise; 

(d) an issuance by the Company of Company Equity Securities to Persons with which the Company or any Subsidiary thereof has
entered into a bona fide new business relationship (or has amended an existing bona fide business relationship); provided that such issuances are not primarily for equity financing purposes; 

(e) an issuance by the Company of any Company Equity Securities upon the exercise, exchange or conversion of convertible
securities or outstanding options or warrants to buy Company Equity Securities that have been issued in compliance with, or the issuance of which was exempt from, the preemptive rights provided in Article XI; 

(f) an issuance by the Company of Company Equity Securities to Persons the disinterested members of the Board determine may
provide strategic or commercial benefits to the Company or any Subsidiary; 
 (g) an issuance by the Company of any Company
Equity Securities to a lender in connection with a debt financing or the amendment of any debt financing arrangements; or 

(h) the issuance of securities in a conversion of the Company, an IPO, or upon any split, combination, dividend or other
similar event in respect of the Company Equity Securities. 
 “Equity Securities” means as to any Person that is a
corporation, the shares of such Person’s capital stock, including all classes of common, preferred, voting and nonvoting capital stock, and, as to any Person that is not a corporation or an individual, the ownership, beneficial or membership
interests in such Person, including, without limitation, the right to share in profits and losses, the right to receive distributions of cash and property, and the right to receive allocations of items of income, gain, loss, deduction and credit and
similar items from such Person, whether or not such interests include voting or similar rights entitling the holder thereof to exercise control over such Person. 

  
 -7- 

 “Exchanged Units” has the meaning set forth in
Section 9.1(d). 
 “Exercise Price” means, with respect to any Put Unit or Call Unit, as
applicable, a dollar amount equal to the quotient obtained by dividing (i) the Total Enterprise Value minus the aggregate amount of Debt of the Company and its Subsidiaries plus the aggregate amount of Cash by (ii) the total
number of Units and Management Incentive Units (in either case, following any applicable Management Incentive Unit Contribution and Exchange) outstanding. 

“Fair Market Value” of any Equity Security means the fair value of such security as determined based on the fair market value
of the entire equity of the issuer of such Equity Security as a going concern and the terms, rights and preferences of all Equity Securities of such issuer, without any discount for lack of liquidity or minority interest, and taking into account the
assets, liabilities, earnings and prospects of the issuer and its Subsidiaries (“Equity Value”), as determined by the Board acting in good faith; provided, that with respect to any determination of the Fair Market
Value of any Unit, such determination shall be made by determining the aggregate amount of Distributable Assets that the holder of such Unit would receive in respect of such Unit if the Company were to distribute an amount equal to its Equity Value
to its Members in a distribution in accordance with Section 5.4(b). 
 “First A&R LLC
Agreement” has the meaning set forth in the recitals. 
 “First Call Window” has the meaning set forth in
Section 9.1(c). 
 “First Put/Call Exercise Date” has the meaning set forth in
Section 9.1(a). 
 “First Put Window” has the meaning set forth in
Section 9.1(a). 
 “GAAP” means United States generally accepted accounting principles as from
time to time in effect. 
 “Gross Asset Value” means, with respect to any asset, the asset’s adjusted basis for
federal income tax purposes, except as follows: 
 (a) The initial Gross Asset Value of any asset contributed by a Member to
the Company shall be the gross fair market value of such asset on the date of the contribution, as determined by the contributing Member and the Company. 

(b) The Gross Asset Values of all Company assets shall be adjusted to equal their respective gross fair market values, as
determined by the Board in good faith, as of the following times: 
 (i) the acquisition of an additional interest in the
Company after the date hereof by a new or existing Member in exchange for more than a de minimis Capital Contribution, if the Board reasonably determines that such adjustment is necessary or appropriate to reflect the relative share of the
Company’s Net Income, Net Losses and distributions pursuant to this Agreement and the Act of the Members; 

  
 -8- 

 (ii) the distribution by the Company to a Member of more than a de minimis
amount of Company property as consideration for an entire or partial interest in the Company, if the Board reasonably determines that such adjustment is necessary or appropriate to reflect the relative share of the Company’s Net Income, Net
Losses and distributions pursuant to this Agreement and the Act of the Members; 
 (iii) the liquidation of the Company
within the meaning of Regulations Section 1.704-1(b)(2)(ii)(g); 
 (iv) the
grant of an interest in the Company (other than a de minimis interest) as consideration for the provision of services to or for the benefit of the Company by an existing Member acting in a Member capacity or by a new Member acting in a Member
capacity or in anticipation of being a Member; and 
 (v) such other times as the Board shall reasonably determine necessary
or advisable in order to comply with Regulations Sections 1.704-1(b) and 1.704-2. 

(c) The Gross Asset Value of any Company asset distributed to a Member shall be the gross fair market value of such asset on
the date of distribution, as reasonably determined by the Board taking into account the following proviso; provided that, in the case of such assets which are Securities, the gross fair market value thereof shall be reduced (i) if and to
the extent appropriate, in the good faith judgment of the Board, due to illiquidity of such Securities and (ii) for any sales or other commissions reasonably likely to be incurred or applied in a sale of such Securities. 

(d) The Gross Asset Values of Company assets shall be increased (or decreased) to reflect any adjustments to the adjusted basis
of such assets pursuant to Code Section 734(b) or Code Section 743(b), but only to the extent that such adjustments are taken into account in determining Capital Accounts pursuant to Regulations
Section 1.704-1(b)(2)(iv)(m); provided, however, that Gross Asset Values shall not be adjusted pursuant to this subparagraph (d) to the extent that the Board determines that an
adjustment pursuant to subparagraph (b) of this definition of Gross Asset Value is necessary or appropriate in connection with a transaction that would otherwise result in an adjustment pursuant to this subparagraph (d). 

“Health System Co-Investors” means the Sellers set forth on Schedule D. 

“Independent Managers” shall have the meaning set forth in Section 3.2(a)(vi). 

“Investors” means Shields, Shields Holdings, Walgreens and WCAS Blocker. 

“IPO Election Notice” has the meaning set forth in Section 14.4(b). 

  
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 “IPO Right” has the meaning set forth in
Section 14.4(b). 
 “IPOCo” has the meaning set forth in Section 14.2.

 “Losses” has the meaning set forth in Section 3.8(b). 

“Management Adjusted EBITDA” shall be calculated in accordance with the methodology described on Schedule I and
consistent with the illustrative calculation set forth on Schedule I. 
 “Management Incentive Unit Contribution and
Exchange” has the meaning set forth in Section 9.1(d). 
 “Management Incentive Units”
means the Common Units issued to the Management Members that have a Distribution Threshold and were subject to a Common Unit Certificate at the time of the issuance thereof. 

“Management Member” means each holder of Company Equity Securities who is or was at any time an employee, manager (including
Managers), director or non-employee service provider of the Company or a Subsidiary thereof. For purposes of this Agreement, references to “employee,” “employed,” “employment” or
similar terms shall, in the case of a manager, director or non-employee service provider, be deemed to refer to service to the Company or a Subsidiary thereof as a manager, director or non-employee service provider as applicable. Notwithstanding the foregoing, Shields shall be deemed to be a Management Member only with respect to, and to the extent of, any Management Incentive Units held by
Shields. 
 “Manager” has the meaning set forth in Section 3.1(a). 

“Medical Center Specialty Pharmacy” has the meaning set forth in Section 12.2(a). 

“Member” means each Person listed on Schedule A as of the date hereof and each other Person who is hereafter admitted
as a Member in accordance with the terms of this Agreement and the Act. The Members shall constitute the “members” (as that term is defined in the Act) of the Company. 

“Member’s Owner” has the meaning set forth in Section 7.1(d)(i). 

“Net Income” or “Net Loss” means for each fiscal year of the Company, an amount equal to the Company’s
taxable income or loss for such fiscal year, determined in accordance with Code Section 703(a) (for this purpose, all items of income, gain, loss, or deduction required to be stated separately pursuant to Code Section 703(a)(1) shall be
included in taxable income or loss), with the following adjustments: 
 (a) Any income of the Company that is exempt from
federal income tax and not otherwise taken into account in computing Net Income or Net Loss pursuant to this definition of Net Income or Net Loss shall be added to such taxable income or loss; 

  
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 (b) Any expenditures of the Company described in Code
Section 705(a)(2)(B) or treated as Code Section 705(a)(2)(B) expenditures pursuant to Regulations Section 1.704-1(b)(2)(iv)(i), and not otherwise taken into account in computing Net Income or
Net Loss pursuant to this definition of Net Income or Net Loss shall be subtracted from such taxable income or loss; 
 (c)
In the event the Gross Asset Value of any Company asset is adjusted pursuant to subparagraph (b) or (c) of the definition of Gross Asset Value, the amount of such adjustment shall be taken into account as gain (if the adjustment increases the
Gross Asset Value of the asset) or loss (if the adjustment decreases the Gross Asset Value of the asset) from the disposition of such asset for purposes of computing Net Income or Net Loss; 

(d) Gain or loss resulting from any disposition of property with respect to which gain or loss is recognized for federal income
tax purposes shall be computed by reference to the Gross Asset Value of the property disposed of, notwithstanding that the adjusted tax basis of such property differs from its Gross Asset Value; 

(e) In lieu of the depreciation, amortization, and other cost recovery deductions taken into account in computing such taxable
income or loss, Depreciation shall be taken into account for such fiscal year; 
 (f) To the extent an adjustment to the
adjusted tax basis of any Company asset pursuant to Code Section 734(b) or 743(b) is required pursuant to Regulations Section 1.704-1(b)(2)(iv)(m) to be taken into account in determining Capital
Accounts, the amount of such adjustment shall be treated as an item of gain (if the adjustment increases the basis of the asset) or loss (if the adjustment decreases the basis of the asset) from the disposition of the asset and shall be taken into
account for purposes of computing Net Income or Net Loss; and 
 (g) Notwithstanding any other provision of this definition
of Net Income or Net Loss, any items which are specially allocated pursuant to Section 5.3(b) hereof shall not be taken into account in computing Net Income or Net Loss. To the extent permitted by the Regulations, the
amounts of the items of Company income, gain, loss, or deduction available to be specially allocated pursuant to Section 5.3(b) hereof shall be determined by applying rules analogous to those set forth in this definition of
Net Income or Net Loss. 
 “New Specialty Pharmacy” has the meaning set forth in Section 12.2(a).

 “Offer Notice” has the meaning set forth in Section 11.2(a). 

“Officer” means each Person designated as an officer of the Company pursuant to and in accordance with the provisions of
Section 3.6. 
 “Original Formation Date” has the meaning set forth in the recitals. 

“Participating Members” has the meaning set forth in Section 14.3. 

  
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 “Participating Members’ Basis
Step-up” has the meaning set forth in Section 14.3. 

“Participating Qualified Investor” has the meaning set forth in Section 11.2(a). 

“Partnership Representative” means the “partnership representative” (within the meaning of Section 6223(a) of
the Code). 
 “Person” means any natural person, corporation, limited liability company, partnership, trust, joint stock
company, business trust, unincorporated association, joint venture, governmental authority or other legal entity of any nature whatsoever. 

“Preemptive Offer” has the meaning set forth in Section 11.2(a). 

“Pro Rata Voting Percentage” means, with respect to a Voting Investor, a percentage expressed as a fraction the numerator of
which is the aggregate number of Common Units directly or indirectly held by such Voting Investor and its Designated Affiliates (and in the case of Shields and UMass, for purposes of determining their respective Pro Rata Voting Percentages only,
fifty percent (50%) of all Common Units held by Shields Holdings shall be deemed held by Shields and fifty percent (50%) of all Common Units held by Shields Holdings shall be deemed held by UMass; and in the case of Walgreens and WCAS, for purposes
of determining their respective Pro Rata Voting Percentages, the Common Units held by WCAS Blocker shall be deemed to be held by Walgreens or its Designated Affiliate or to the WCAS Group to the extent of their relative ownership of WCAS Blocker),
and the denominator of which is the aggregate number of Common Units held by all the Voting Investors and their Designated Affiliates. 

“Prohibited Transferee” means, with respect to the Transfer by any Member, a Person that engages in any business that is
competitive with the business of the Company or any of its Subsidiaries and, with respect to the Transfer by any Member other than Walgreens, CVS Health Corporation and any of its Subsidiaries. 

“Proportionate Fully-Diluted Percentage” means, with respect to a Member, a percentage expressed as a fraction the numerator
of which is the aggregate number of Common Units (other than Management Incentive Units) held by such holder and the denominator of which is the aggregate number of Common Units (other than Management Incentive Units) held by all the Members;
provided that in the case of Walgreens and WCAS, for purposes of determining their respective Proportionate Fully-Diluted Percentages, the Common Units held by WCAS Blocker shall be deemed to be held by Walgreens or its Designated Affiliate
or the WCAS Group to the extent of their relative ownership of WCAS Blocker. 
 “Public Offering” means a public offering
of common stock of any corporate successor to the Company or any shares of common stock of a Subsidiary of the Company pursuant to an effective registration statement (other than on a Form S-4 or other similar
form) under the Securities Act. 
 “Put” has the meaning set forth in Section 9.1(a). 

“Put Closing” has the meaning set forth in Section 9.3. 

  
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 “Put Exercise Price Notice” has the meaning set forth in
Section 9.2(b). 
 “Put/Call Exercise Date” has the meaning set forth in
Section 9.1(b). 
 “Put/Call Measurement Period Financials” means (i) the unaudited
financial statements for the Company for the calendar quarter ending March 31, 2023 (in the case of the First Put/Call Exercise Date), the calendar quarter ending March 31, 2024 (in the case of the Second Put/Call Exercise Date) and the
most recent calendar quarter (in the case of a Clean-Up Put, Clean-Up Call or Special Put, as the case may be), as applicable, prepared in accordance with the
methodology set forth in Schedule E and (ii) the calculation of Management Adjusted EBITDA related thereto. 
 “Put/Call
Multiple” shall have the meaning set forth on Schedule I. 
 “Put Notice” has the meaning set forth in
Section 9.1(b). 
 “Put Objection” has the meaning set forth in
Section 9.2(c). 
 “Put Resolution Period” has the meaning set forth in
Section 9.2(d). 
 “Put Review Period” has the meaning set forth in
Section 9.2(c). 
 “Put Right” has the meaning set forth in
Section 9.1(a). 
 “Put Seller” has the meaning set forth in
Section 9.1(a). 
 “Put Units” means the number of Common Units, WCAS Blocker Units or Exchanged
Units (after effecting a Management Incentive Unit Contribution and Exchange for the applicable Vested Management Incentive Units) subject to a Put Right, Clean-Up Put Right or Special Put Right, as
applicable. 
 “Qualified Investor” means any Member other than a Member that only holds Management Incentive Units. For
the avoidance of doubt, a Member that holds Management Incentive Units and any other Units (including Common Units that are not Management Incentive Units) shall be a Qualified Investor. 

“Qualified Public Offering” means a Public Offering approved by the Board (or successor governing body) where the aggregate
gross proceeds to the corporate successor to the Company or a Subsidiary of the Company exceed $25,000,000. 

“Regulations” means the income tax regulations, including temporary regulations, promulgated under the Code, as such
regulations may be amended from time to time (including corresponding provisions of succeeding regulations). 
 “Repurchase
Option” has the meaning set forth in Section 10.1(a). 
 “Repurchase Price” has the
meaning set forth in Section 10.1(c). 
 “Required Standard of Conduct” has the meaning set forth
in Section 3.8(a). 

  
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 “Restricted Person” has the meaning set forth in
Section 12.2(a). 
 “Run-Rate Adjusted EBITDA” means the
annualized (i) Management Adjusted EBITDA for the calendar quarter ending March 31, 2023 (in respect of the First Put/Call Exercise Date), (ii) Management Adjusted EBITDA for the calendar quarter ending March 31, 2024 (in respect of
the Second Put/Call Exercise Date) and (iii) Management Adjusted EBITDA for the most recent calendar quarter (in respect of a Clean-Up Put, Clean-Up Call or Special
Put, as the case may be). 
 “Sale Transaction” means any single or series of related transactions involving (i) any
merger, amalgamation, consolidation, share exchange, reorganization, business combination or similar transaction of the Company (or any direct or indirect Subsidiary of the Company that directly or indirectly holds substantially all of the assets of
the Company and its Subsidiaries) with or into any Person pursuant to which fifty percent (50%) or more of the outstanding Common Units (or equity interests of such Subsidiary) will be acquired by such Person, (ii) the sale of Common Units (or
equity interests of any direct or indirect Subsidiary of the Company that directly or indirectly holds substantially all of the assets of the Company and its Subsidiaries) to any Person that represents fifty percent (50%) or more of the outstanding
Common Units (or equity interests of such Subsidiary) or (iii) the sale of all or substantially all of the assets of the Company (or any direct or indirect Subsidiary of the Company that directly or indirectly holds substantially all of the
assets of the Company and its Subsidiaries). 
 “Second Put/Call Exercise Date” has the meaning set forth in
Section 9.1(b). 
 “Second Put Window” has the meaning set forth in
Section 9.1(b). 
 “Securities” means any debt or equity securities of any issuer, including
common and preferred stock and interests in limited liability companies (including warrants, rights, put and call options and other options relating thereto or any combination thereof), notes, bonds, debentures, trust receipts and other obligations,
instruments or evidences of indebtedness and other property or interests commonly regarded as securities. 
 “Securities
Act” means the Securities Act of 1933, or any successor federal statute, and the rules and regulations of the Securities and Exchange Commission thereunder, as the same may be amended from time to time. 

“Seller Group” means the Sellers and their respective Designated Affiliates. 

“Seller Group Approval Matters” has the meaning set forth in Section 4.2. 

“Sellers” and each a “Seller” means the Beneficial Owners, excluding the Walgreens Group. 

“Senior Credit Facility” means that certain Credit Agreement, dated as of March 30, 2021, by and among Shields Health
Solutions Holdings, LLC, as Borrower (as defined therein), Shields Health Solutions Midco, LLC, as Holdings (as defined therein), Guggenheim Credit Services, LLC, as administrative agent and collateral agent and the lenders from time to time party
thereto. 

  
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 “Shields” means Jack Shields. 

“Shields Designee” has the meaning set forth in Section 9.5(a). 

“Shields Group” means Shields and its Designated Affiliates. 

“Shields Holdings” means Shields Specialty Pharmacy Holdings, LLC. 

“Shields Holdings Group” means Shields Holdings and its Designated Affiliates. 

“Special Put” has the meaning set forth in Section 9.1(f). 

“Special Put Right” has the meaning set forth in Section 9.1(f). 

“Subsidiary” means, (i) with respect to the Company or any other Person, any Person of which the Company (or such other
Person) owns securities having a majority of the voting power in electing the board of directors directly or through one or more Subsidiaries (or, in the case of a partnership, limited liability company or other similar entity, securities conveying,
directly or indirectly, a majority of the economic interests in such partnership or entity), including any Person of which the Company (or such other Person) or any Subsidiary serves as general partner or managing member; and (ii) with respect
to the Company, any other entity controlled or jointly-controlled by the Company or Subsidiary thereof that provides services to any Person for or on behalf of which the Company or any of its Subsidiaries provides any management, administrative,
consulting, health care, billing, or business support services, including Dignity Health Specialty Pharmacy, LLC. 
 “Substitute
Member” means any Person that has been admitted to the Company as a Member pursuant to Section 6.4 by virtue of such Person receiving a Unit from a Member and not from the Company. 

“Tag-Along Investors” has the meaning set forth in
Section 8.1(a). 
 “Tag-Along Notice” has the meaning set
forth in Section 8.1(a). 
 “Tag-Along Pro Rata Basis”
has the meaning set forth in Section 8.1(c). 
 “Tag-Along
Sale” has the meaning set forth in Section 8.1(a). 
 “Tax Year” has the meaning set
forth in Section 14.3. 
 “Termination” has the meaning set forth in
Section 10.1(a). 
 “Terms of Engagement” has the meaning set forth in
Section 9.4. 
 “Total Enterprise Value” means the product of the Put/Call Multiple multiplied by
(i) the Run-Rate Adjusted EBITDA for the calendar quarter ending March 31, 2023 in respect of the First Put/Call Exercise Date, (ii) the Run-Rate Adjusted
EBITDA for the calendar quarter ending March 31, 2024 in respect of the Second Put/Call Exercise Date and (iii) the Run-Rate Adjusted EBITDA for the calendar quarter immediately prior to the exercise
date of a Clean-Up Put Right, Clean-Up Call Right or Special Put Right, as applicable, in respect of the exercise date of any
Clean-Up Put Right, Clean-Up Call Right or Special Put Right. 

  
 -15- 

 “TRA” has the meaning set forth in Section 14.3.

 “Transfer” means a transfer, sale, assignment, pledge, hypothecation or other disposition, whether directly or
indirectly pursuant to the creation of a derivative security, the grant of an option or other right or the imposition of a restriction on disposition or voting, and irrespective of whether any of the foregoing are effected, with or without
consideration, voluntarily or involuntarily, by operation of law or otherwise, or whether inter vivos or upon death (it being agreed that any Transfer of Equity Interests in an entity that itself holds Company Equity Securities shall
be deemed to be a Transfer of the underlying Company Equity Securities if undertaken as a scheme to avoid the restrictions on Transfer contained in this Agreement). 

“Transferring Investor” has the meaning set forth in Section 8.1(a). 

“UMass” means Memorial Health Ventures, Inc. 

“UMass Blocker Corporation” has the meaning set forth in Section 7.2. 

“UMass Group” means UMass and its Designated Affiliates. 

“Units” means units of interest in the Company from time to time outstanding hereunder (which are initially represented by
the Common Units). 
 “Unresolved Matters” has the meaning set forth in Section 9.4. 

“Unvested Management Incentive Units” means, as of any time of determination, Management Incentive Units that are not Vested
Management Incentive Units. 
 “Valuation Firm” has the meaning set forth in Section 9.4. 

“Vested Management Incentive Units” means, as of any time of determination, Management Incentive Units that have vested as of
or prior to such time in accordance with the terms of the Common Unit Certificate corresponding to such Management Incentive Units or that were not subject to any vesting restrictions upon the issuance thereof. 

“Voting Investors” means Shields, UMass, Walgreens and WCAS. 

“Walgreens” means Walgreen Co. 

“Walgreens Group” means Walgreens and its Designated Affiliates. 

“Walgreens Parent” means Walgreens Boots Alliance, Inc. 

“WCAS” means WCAS XIII, L.P. 

“WCAS Blocker” means WCAS Shields Holdings, LLC. 

  
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 “WCAS Blocker Corporation” has the meaning set forth in
Section 7.2. 
 “WCAS Group” means WCAS XIII, L.P., WCAS XIII Cayman, L.P., WCAS XIII Co-Investors LLC, WCAS Management L.P., and WCAS Co-Invest, L.P. 

“WCAS Blocker Units” means (i) all Equity Securities of WCAS Blocker from time to time held by WCAS and (ii) any
securities of the Company or any other Person from time to time directly or indirectly received (whether by means of sale, exchange, conversion, merger, consolidation or otherwise) in respect of any securities referred to in clause (i) above
and from time to time held by WCAS. 
 Section 1.2.Terms Generally. The definitions in Section 1.1 shall
apply equally to both the singular and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include,” “includes” and
“including” shall be deemed to be followed by the phrase “without limitation.” All terms herein that relate to accounting matters shall be interpreted in accordance with GAAP. All references to “Sections” and
“Articles” shall refer to Sections and Articles of this Agreement unless otherwise specified. The words “hereof” and “herein” and similar terms shall relate to this Agreement. 

ARTICLE II. 
 GENERAL
PROVISIONS 
 Section 2.1.Formation. The Company has been organized as a Delaware limited liability company by the execution and
filing of a Certificate of Formation (as amended from time to time, the “Certificate”) by an authorized person under and pursuant to the Act. The rights, powers, duties, obligations and liabilities of the Members shall be
determined pursuant to the Act and this Agreement. To the extent that the rights, powers, duties, obligations and liabilities of any Member are different by reason of any provision of this Agreement than they would be in the absence of such
provision, this Agreement shall, to the extent permitted by the Act, control. 
 Section 2.2.Name. The name of the Company is Shields
Health Solutions Parent, LLC, the name specified in the Certificate filed with the Secretary of State of the State of Delaware on the Original Formation Date. All Company business shall be conducted in that name or in such other names that comply
with applicable law as the Board may select from time to time. 
 Section 2.3.Term. The term of the Company commenced on the Original
Formation Date, the date the original Certificate was filed with the office of the Secretary of State of the State of Delaware, and shall continue in existence perpetually until termination or dissolution in accordance with the provisions of
Section 6.2. 
 Section 2.4.Purpose; Powers. 

(a) General Powers. The nature of the business or purposes to be conducted or promoted by the Company is to engage in
any lawful act or activity for which limited liability companies may be organized under the Act. The Company may engage in any and all activities necessary, desirable or incidental to the accomplishment of the foregoing. Notwithstanding anything
herein to the contrary, nothing set forth herein shall be construed as authorizing the Company to possess any purpose or power, or to do any act or thing, forbidden by law to a limited liability company organized under the laws of the State of
Delaware. 

  
 -17- 

 (b) Company Action. Subject to the provisions of this Agreement and
except as prohibited by applicable law (i) the Company may, with the approval of the Board (or a duly authorized committee thereof) or a duly authorized Officer, enter into and perform any and all documents, agreements and instruments
contemplated by such approval, all without any further act, vote or approval of any Member and (ii) the Board (or a duly authorized committee thereof) may authorize any Person (including any Member, Manager or Officer) to enter into and perform
any document on behalf of the Company. 
 Section 2.5.Foreign Qualification. The Board shall cause the Company to comply with all
requirements necessary to qualify the Company as a foreign limited liability company in any jurisdiction in which the location of its assets and properties or the conduct of its business requires such qualification unless the Board shall determine
otherwise and determine that the failure so to qualify would not have a material adverse effect on the Company. 

Section 2.6.Registered Office; Registered Agent; Offices. The registered office of the Company required by the Act to be maintained in
the State of Delaware shall be the office of the registered agent named in the Certificate or such other office (which need not be a place of business of the Company) as the Board may designate from time to time in the manner provided by law. The
registered agent of the Company in the State of Delaware shall be the registered agent named in the Certificate or such other Person or Persons as the Board may designate from time to time in the manner provided by law. The principal office of the
Company shall be at such place as the Board may designate from time to time, which need not be in the State of Delaware, and the Company shall maintain records at such place. The Company may have such other offices as the Board may designate from
time to time. 
 Section 2.7.Partnership Status. The Members intend that the Company shall be treated as a partnership and as a
“new partnership” and not a continuation of Shields Holdings, in each case for federal, state and local income tax purposes, and each Member and the Company shall file all tax returns and shall otherwise take all tax and financial
reporting positions in a manner consistent with such treatment. 
 Section 2.8.Rights and Privileges of Initial Classes of Units;
Voting. 
 (a) The Membership Interests of the Members of the Company shall be divided into Units. There is hereby created a
class of Units designated as the “Common Units”. Each Management Incentive Unit shall have a Distribution Threshold. Except for any difference in the applicable Distribution Threshold of a Management Incentive Unit or as otherwise provided
in any Common Unit Certificate corresponding to such Management Incentive Unit, each Common Unit shall be identical to all other Common Units in all respects and shall entitle the holder thereof to the rights, interests, preferences and privileges
of a holder of a Common Unit as set forth in this Agreement. 

  
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 (b) Except as otherwise expressly provided in this Agreement or as required
by non-waivable provisions of applicable law, the Management Incentive Units shall be non-voting. Those Common Units that are designated as Management Incentive Units
hereunder shall, if applicable, vest in accordance with the terms of the applicable Common Unit Certificate. Each Member that receives Management Incentive Units shall make an election under Section 83(b) of the Code within thirty
(30) days of the date such Management Incentive Units are transferred to the Member and shall promptly provide the Company with a copy of such election. 

Section 2.9.Ownership and Issuance of Units. 

(a) The ownership of outstanding Units shall be listed on Schedule A to this Agreement, as from time to time amended or
supplemented in accordance with this Agreement. From time to time, following the admission of any Additional Members or Substitute Members, or following the issuance, transfer or forfeiture of any Units, Schedule A shall be amended to reflect
such changes. 
 (b) Subject to Article XI, the Board is authorized in its sole and complete discretion to cause the
Company to issue, on such terms and conditions as the Board shall determine, additional Units, which Units may be of a same or different class from the Units which are outstanding prior to such issuance, at any time or from time to time to existing
Members or to other Persons, and to admit such other Persons to the Company as additional Members pursuant to Section 6.4. In connection therewith, the Board shall have sole and complete discretion to increase the
authorized number of Units of any existing Class of Units and to create new classes, subclasses or series of Units (in addition to the existing classes and subclasses of Units), with such relative rights, preferences, privileges and limitations
as shall be fixed by the Board, and to make such revisions to the relative rights, preferences, privileges and limitations of Units which are outstanding prior to such issuance subject only to the express restrictions set forth in
Section 15.3. Upon the issuance of any additional Units pursuant to this Section 2.9, the Board shall amend Schedule A hereto to reflect such issuance and, if necessary, and subject to
Section 15.3, the other terms and provisions of this Agreement to reflect the creation, designation, preferences and relative, participating, optional or other special rights, powers and duties of any such new class,
subclass or series of Units. 
 (c) Without limiting the generality of paragraph (b) above, the Board may establish and
implement one or more Company Plans under which Units or options to acquire Units of the Company may be issued or granted to employees of the Company or its Subsidiaries. Notwithstanding anything to the contrary contained herein, in addition to any
conditions or restrictions on any class of Units contained in this Agreement, any such Units or options to acquire Units may also be subject to such other conditions and restrictions (including vesting) as determined by the Board and set forth in an
award agreement (including a Common Unit Certificate) executed and delivered in connection with any such issuance or grant. 

  
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 ARTICLE III. 

MANAGEMENT 

Section 3.1.Establishment of the Board. 

(a) Managers. In accordance with the terms of Section 3.2, there shall be established a Board
of Managers (the “Board”). The authorized number of members of the Board (each a “Manager”) shall be eleven (11), unless increased or decreased pursuant to Sections 3.2(a)(vi), 3.2(b) or
3.2(c), as the case may be. Managers shall be elected, appointed and removed by the Members specified in Section 3.2 hereof from time to time as set forth in Section 3.2 hereof. Each Manager
shall remain in office until his or her death, resignation or removal, and in the event of death, resignation or removal of a Manager, the vacancy created shall be filled as provided in Section 3.2. All Managers shall be
individuals. 
 (b) No Individual Authority. No Manager has the authority or power to act for or on behalf of the
Company, to do any act that would be binding on the Company or to make any expenditures or incur any obligations on behalf of the Company or authorize any of the foregoing, other than acts that are expressly authorized by the Board (or a duly
authorized committee thereof). 
 Section 3.2.Board Composition. 

(a) The Managers shall be designated as provided below: 

(i) Walgreens shall have the right to designate three (3) Managers, so long as the Walgreens Group directly or indirectly
holds any Units (which shall include Units held by WCAS Blocker to the extent Walgreens or its Designated Affiliate has ownership of WCAS Blocker); 

(ii) WCAS shall have the right to designate two (2) Managers so long as the WCAS Group directly or indirectly holds at
least twenty-five percent (25%) of the Units owned by the WCAS Group immediately following the Effective Date (which for the avoidance of doubt shall include the Units held by WCAS Blocker to the extent the WCAS Group has ownership of WCAS Blocker);

 (iii) UMass shall have the right to designate one (1) Manager so long as the UMass Group directly or indirectly holds
at least twenty-five percent (25%) of the Units owned by the UMass Group immediately following the Effective Date (which shall include Units held by Shields Holdings to the extent the UMass Group has ownership of Shields Holdings); 

(iv) Shields shall have the right to designate one (1) Manager so long as the Shields Group directly or indirectly holds
at least twenty-five percent (25%) of the Units owned by the UMass Group immediately following the Effective Date (which shall include Units held by Shields Holdings to the extent the Shields Group has ownership of Shields Holdings); and 

  
 -20- 

 (v) one (1) Manager shall be the Chief Executive Officer of the
Company; and 
 (vi) such number of independent Managers (the “Independent Managers”) as may be designated
by Walgreens, so long as the Pro Rata Voting Percentage of the Walgreens Group exceeds 50%; provided that, as of the Effective Date, there shall be three (3) Independent Managers designated by Walgreens. 

all of which persons shall hold office, subject to their earlier death, resignation or removal in accordance with this Agreement and applicable
law, until their respective successors shall have been elected and shall have qualified. 
 (b) Managers designated or
elected in accordance with Section 3.2(a) shall be removed from the Board (with or without cause) only upon the vote or written consent of the requisite Member(s) that are entitled to designate or elect such Manager under
Section 3.2(a). In the event a Person is no longer entitled to appoint Managers, then the Managers designated by such Person shall automatically be removed from the Board and the size of the Board shall be accordingly
reduced. 
 (c) Without limiting the foregoing, Walgreens shall have the right at any time to increase the size of the Board
and appoint a majority of the Managers without the consent of the other Managers or Members, so long as the Pro Rata Voting Percentage of the Walgreens Group exceeds 50%. 

Section 3.3.The Board of Managers; Delegation of Authority and Duties. 

(a) Authority of the Board. To the fullest extent permitted by Delaware law, subject to
Section 4.2, the Board established pursuant to Section 3.2 shall possess full and exclusive power to manage the business and affairs of the Company (and shall be considered a “manager”
for purposes of Section 18-402 of the Act). In furtherance of the foregoing, each of the Members hereby consents to the exercise by the Board of all such powers and rights conferred on the Board by the
Act and this Agreement with respect to the management and control of the Company. No Member, in its capacity as a Member, shall have any power to act for, sign for or do any act that would bind the Company. Each Member acknowledges and agrees that,
except as otherwise agreed in writing, no Member shall, in its capacity as a Member, be bound to devote any of such Member’s business time to the affairs of the Company, and that each Member and such Member’s Affiliates do and will
continue to engage for such Member’s own account and for the account of others in other business ventures. 
 (b)
Delegation by the Board. Except as provided in Sections 3.3(c) and 3.6 below, the Board shall not have the power and authority to delegate to one or more other Persons the Board’s rights and powers to manage and control the
business and affairs of the Company; provided, that the Board may authorize any Person (including any Member, Officer or Manager) to enter into and perform under any document authorized by the Board on behalf of the Company. 

  
 -21- 

 (c) Committees. The Board may, from time to time, designate one or
more committees. Any such committee, to the extent provided in the enabling resolution and until dissolved by the Board, shall have and may exercise any or all of the authority of the Board. At every meeting of any such committee, unless otherwise
provided in the enabling resolution, the presence of a majority of all the members thereof shall constitute a quorum, and the affirmative vote of a majority of the members of such committee present shall be necessary for the adoption of any
resolution. The Board may dissolve any committee at any time. 
 (d) Voting. Each Manager’s votes upon all
matters coming before the Board (whether at a meeting or by written consent) shall be expressed as a percentage of the “Board Voting Percentage” and shall be equal to the Pro Rata Voting Percentage of the Voting Investor that designated
such Manager divided by the number of Managers designated by such Voting Investor (including any Independent Managers designated by Walgreens); provided, that the Chief Executive Officer shall be a
non-voting Manager. On any vote of the Board approving any acquisition by the Company or any Subsidiary thereof of assets of Walgreens or its Affiliates, or any other agreement, contract or transaction between
the Company or any Subsidiary, on the one hand, and Walgreens or any of its Affiliates, on the other hand, as contemplated by Section 4.2(i), (i) each Manager’s (other than the Managers designated by Walgreens) votes
thereon (whether at a meeting or by written consent) shall be expressed as a percentage of the aggregate voting percentage of all of the Managers (other than the Managers designated by Walgreens) and shall be equal to the Pro Rata Voting Percentage
of the Voting Investor that designated such Manager divided by the number of Managers designated by such Voting Investor and (ii) the votes of each Manager designated by Walgreens, shall be 0%. The “Board Voting
Percentage” shall mean (i) with respect to any vote of the Board approving any acquisition by the Company or any Subsidiary thereof of assets of Walgreens or its Affiliates, or any other transaction between the Company or any
Subsidiary on the one hand, and Walgreens or any of its Affiliates, on the other hand, as contemplated by Section 4.2(i), the aggregate voting percentage of all of the Managers (other than the Managers designated by
Walgreens) and (ii) for any other matter the aggregate voting percentage of all of the Managers. For purposes of this Section 3.3(d) an Independent Manager shall be deemed to be designated by Walgreens. 

(e) Financial Consolidation. It is the intent of the Members that, so long as the Pro Rata Voting Percentage of the
Walgreens Group exceeds 50%, the Walgreens Group be able to consolidate the financial statements of the Company with Walgreens Parent for financial reporting purposes in accordance with GAAP. Accordingly, so long as the Pro Rata Voting Percentage of
the Walgreens Group exceeds 50%, the Managers designated by Walgreens, excluding the Independent Managers designated by Walgreens, acting singly by a majority thereof or pursuant to Section 3.5 hereof, shall have the
authority to approve actions by the Company to (i) appoint, remove, dismiss, promote or demote the Company’s Chief Executive Officer or his or her successor(s) or enter into, modify or terminate any employment, separation, compensation,
severance or other agreement or plan with the Chief Executive Officer or his or her successor(s) in connection therewith and (ii) approve the Company’s annual plan and budget. For the avoidance of doubt, (x) the Company shall request
approval for any of the actions in clauses (i) and (ii) 

  
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above from the Managers designated by Walgreens reasonably in advance of taking any such actions, (y) the prior approval of the Managers designated by Walgreens shall be required for the
Company to take any of the actions in clauses (i) and (ii) above and (z) the Managers designated by Walgreens shall consult with the Board prior to taking any of the actions in clauses (i) and (ii) above. 

Section 3.4.Board Meetings. 

(a) Quorum; Voting. Managers holding more than 50% of the Board Voting Percentage shall constitute a quorum for the
transaction of business of the Board, which must include a Manager appointed by WCAS and a Manager appointed by at least one of Shields or UMass for so long as such Person is entitled to appoint Managers hereunder. Notwithstanding the foregoing, if
at any properly called meeting of the Board, a quorum is not present for any reason, then the meeting may be adjourned and such Board meeting may be reconvened within no fewer than two (2) and no more than ten (10) Business Days, and at
such reconvened meeting the Managers holding more than 50% of the Board Voting Percentage shall constitute a quorum for all purposes (with or without the presence of a Manager appointed by WCAS, Shields or UMass for so long as such Person is
entitled to appoint Managers hereunder). Unless otherwise provided herein, the act of the Managers holding more than 50% of the Board Voting Percentage at any meeting of the Board at which a quorum is present shall be the act of the Board. A Manager
who is present at a meeting of the Board at which action on any matter is taken shall be presumed to have assented to the action unless his or her dissent shall be entered in the minutes of the meeting or unless he or she shall file his or her
written dissent to such action with the Person acting as secretary of the meeting before the adjournment thereof or shall deliver such dissent to the Company immediately after the adjournment of the meeting. Such right to dissent shall not apply to
a Manager who voted in favor of such action. 
 (b) Place of Meetings; Waiver of Notice. Meetings of the Board may be
held at such place or places as shall be determined from time to time by resolution of the Board or, in the case of a special meeting of the Board, by the Person(s) calling the meeting as provided herein. At all meetings of the Board, business shall
be transacted in such order as shall from time to time be determined by resolution of the Board or, in the absence of such resolution, by the chairman of the meeting. Attendance of a Manager at a meeting shall constitute a waiver of notice of such
meeting, except where a Manager attends a meeting for the express purpose of objecting to the transaction of any business on the ground that the meeting is not lawfully called or convened. 

(c) Regular Meetings. Regular meetings of the Board shall be held at such times and places as shall be designated from
time to time by resolution of the Board, but no less than quarterly. Additional notice of such meetings shall not be required. 

(d) Special Meetings. Special meetings of the Board may be called on at least 24 hours’ notice to each Manager by
the Chairman or the Managers holding more than 50% of the Board Voting Percentage. Such notice need not state the purpose or purposes of, nor the business to be transacted at, such meeting, except as may otherwise be required by law or provided for
in this Agreement. 

  
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 (e) Notice. Notice of any special meeting of the Board or other
committee may be given to the Managers at their addresses known to the Company either by email or in any other manner permitted by Section 15.4. Notice need not be given to any Manager if: (i) action is taken under
Section 3.5, (ii) a written waiver of notice is executed before or after the meeting by such Manager, or (iii) such Manager attends the meeting in question, unless such attendance was for the express purpose of
objecting, at the beginning of the meeting, to the transaction of any business because the meeting was not lawfully called or convened. A notice or waiver of notice of a meeting of the Board need not specify the purposes of the meeting. 

Section 3.5.Action by Written Consent or Telephone Conference. Any action permitted or required by the Act, the Certificate or this
Agreement to be taken at a meeting of the Board or at a meeting of any committee designated by the Board and any action pursuant to Section 3.3(e) may be taken without a meeting if a consent in writing, setting forth the
action to be taken, is signed by all of the Managers entitled to vote thereon, all of the members of such committee entitled to vote thereon or all of the Managers designated by Walgreens as contemplated by Section 3.3(e),
as the case may be. For purposes of the foregoing, an action shall be deemed to have been taken in writing via email communication if (a) an email communication is sent to the Managers entitled to vote on the matter at issue clearly specifying
the action to be taken and clearly stating that an email response to such email shall be deemed to be an email communication for purposes of this Section 3.5, (b) all of such Managers so respond to such email resulting in
either a vote in favor or disfavor of the action(s), and (c) such email and all such responses thereto are filed with the minutes of the meeting of the Board. Such consent shall have the same force and effect as a vote at a meeting and may be
stated as such in any document or instrument filed with the Secretary of State of the State of Delaware, and the execution of such consent shall constitute attendance or presence in person at a meeting of the Board or any such other committee, as
the case may be. Subject to the requirements of this Agreement for notice of meetings, the Managers, or members of any other committee designated by the Board, may participate in and hold a meeting of the Board or any such other committee, as the
case may be, by means of a conference telephone or similar communications equipment by means of which all Persons participating in the meeting can hear each other, and participation in such meeting shall constitute attendance and presence in person
at such meeting, except where a Person participates in the meeting for the express purpose of objecting to the transaction of any business on the ground that the meeting is not lawfully called or convened. 

Section 3.6.Officers. 

(a) Designation and Appointment. The Board may, from time to time, employ and retain Persons as may be necessary or
appropriate for the conduct of the Company’s business (subject to the supervision and control of the Board), including employees, agents and other Persons (any of whom may be a Manager) who may be designated as Officers of the Company, with
titles including “Chief Executive Officer,” “Chief Operating Officer,” “Chief Administrative Officer,” “Chief Compliance Officer,” “General Counsel,” “Vice President,”
“Treasurer,” “Secretary,” “Assistant Secretary,” and “Chief Financial Officer,” as and to the extent authorized by the Board (or, in the case of a “Chief Executive Officer”, the Managers designated
by Walgreens pursuant to Section 3.3(e)). Any number of offices may be held by the same Person. Subject to Section 3.3(e), 

  
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in its discretion, the Board may choose not to fill any office for any period as it may deem advisable. Officers need not be residents of the State of Delaware or Members. Subject to
Section 3.3(e), any Officers so designated shall have such authority and perform such duties as the Board may, from time to time, delegate to them. The Officers shall have the general powers and duties of management and
supervision usually vested in such officers to conduct the normal day to day operations of the business. Subject to Section 3.3(e), the Board may assign titles to particular Officers. Each Officer shall hold office until
his or her successor shall be duly designated and shall qualify or until his death or until he or she shall resign or shall have been removed in the manner provided herein. Subject to Section 3.3(e), the salaries or other
compensation, if any, of the Officers of the Company shall be fixed from time to time by the Board. 
 (b)
Resignation/Removal. Any Officer may resign as such at any time. Such resignation shall be made in writing and shall take effect at the time specified therein, or if no time is specified, at the time of its receipt by the Board. The
acceptance of a resignation shall not be necessary to make it effective, unless expressly so provided in the resignation. Subject to Section 3.3(e), any Officer may be removed as such, either with or without cause at any
time by the Board. Designation of an Officer shall not of itself create any contractual or employment rights. 
 (c)
Duties of Certain Officers. The Officers of the Company who are full-time employees of the Company or a Subsidiary thereof, in the performance of their duties as such, shall owe to the Company a duty of loyalty of the type owed by the
officers of a corporation to such corporation and its stockholders under the laws of the State of Delaware; provided that any actions permitted by the last sentence of Section 3.9 shall not be deemed to be a breach of any
such Officer’s duty of loyalty. 
 Section 3.7.Liability of Members. 

(a) No Personal Liability. Except as otherwise required by applicable law, and as expressly set forth in this Agreement,
no Member, Manager or Officer shall have any personal liability whatsoever in such Person’s capacity as a Member, Manager or Officer, whether to the Company, to any other Member, Manager or Officer, to the creditors of the Company or to any
other third party, for the debts, liabilities, commitments or any other obligations of the Company or for any losses of the Company. Each Member shall be liable only to make such Member’s initial Capital Contribution to the Company, if
applicable, and the other payments provided expressly herein. 
 (b) Return of Distributions. In accordance with the
Act and the laws of the State of Delaware, a member of a limited liability company may, under certain circumstances, be required to return amounts previously distributed to such member. It is the intent of the Members that no distribution to any
Member pursuant to Article V hereof shall be deemed a return of money or other property paid or distributed in violation of the Act. The payment of any such money or distribution of any such property to a Member shall be deemed to be a
compromise within the meaning of the Act, and the Member receiving any such money or property shall not be required to return to any Person any such money or property. However, if any court of competent jurisdiction holds that, notwithstanding the
provisions of this Agreement, any Member is obligated to make any such payment, such obligation shall be the obligation of such Member and not of any Manager or other Member. 

  
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 Section 3.8.Indemnification and Exculpation by the Company. 

(a) Subject to the limitations and conditions provided in this Section 3.8, each Person who was or is
made a party or is threatened to be made a party to or is involved in any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or arbitrative (hereinafter a “Proceeding”), or
any appeal in such a Proceeding or any inquiry or investigation that could lead to such a Proceeding, by reason of the fact that he, she, or it, or a Person of which he, she or it is a representative, is or was a Member, Officer or Manager (each, an
“Indemnitee”) shall be indemnified by the Company to the fullest extent permitted by applicable law, as the same exists or may hereafter be amended (but, in the case of any such amendment, only to the extent that such
amendment permits the Company to provide broader indemnification rights than said law permitted the Company to provide prior to such amendment) against all Losses actually incurred by such Person in connection with such Proceeding, appeal, inquiry
or investigation if such Person acted in accordance with the Required Standard of Conduct (as defined below), and indemnification under this Section 3.8 shall continue as to a Person who has ceased to serve in the capacity
which initially entitled such Person to indemnity hereunder. A Manager or Officer shall not be liable to the Company or its Members for monetary damages for breach of this Agreement or otherwise if such Person acted in accordance with the Required
Standard of Conduct, except to the extent that exculpation from liability is not permitted under applicable law. The rights granted pursuant to this Section 3.8 shall be deemed contract rights, and no amendment,
modification or repeal of this Section 3.8 shall have the effect of limiting or denying any such rights with respect to actions taken or Proceedings, appeals, inquiries or investigations arising prior to any amendment,
modification or repeal. It is expressly acknowledged that the indemnification provided in this Section 3.8 could involve indemnification for negligence or under theories of strict liability. As used in this
Section 3.8, “Required Standard of Conduct” means, with respect to any Person, that such Person is acting in a manner that such Person reasonably believes to be in or not opposed to the best
interests of the Company, and, with respect to a criminal Proceeding, that such Person has no reasonable cause to believe such Person’s conduct is unlawful (it being understood that the Board or a Person acting as a Manager shall be deemed to
have acted in accordance with the Required Standard of Conduct to the extent an action is taken in reliance upon information, opinions, reports or statements presented by any of the Company’s or its Subsidiaries’ officers or employees or
by other Persons that the Board or such Manager reasonably believes are within such other Person’s professional or expert competence and who has been selected with reasonable care to act on behalf of the Company or advise the Board). 

(b) The parties intend that (i) the Company is and shall at all times be the indemnitor of first resort with respect to
any and all matters for which advancement of expenses and indemnification are provided by the Company to or on behalf of any Indemnitee, without regard to the time of any related claims and liabilities or of any act, statement or omission relating
thereto, (ii) the Company shall advance expenses and/or 

  
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indemnify each Indemnitee on a primary basis; and (iii) any Indemnitee may be expected to seek advancement of expenses and/or indemnification from any other potential source of such
advancement or indemnification (including from any other Indemnitee) only if, and to the extent, that the Company is legally and/or financially unable to advance expenses and/or indemnify, as the case may be, to or on behalf of such Indemnitee. The
Company hereby acknowledges and agrees that (a) the Company is an indemnitor of first resort, (b) the obligations of the Company to each Indemnitee are primary, and any obligations of any Indemnitee to provide advancement of expenses or
indemnification for any Losses incurred by an Indemnitee and for which the Company has agreed (or is otherwise obligated) to indemnify Indemnitee (whether under this Agreement or any other agreement or document) are secondary, and (c) if any
Indemnitee, is obligated to pay, or pays, or causes to be paid for any reason, any Losses that the Company is otherwise obligated (whether under this Agreement or any other document or agreement) to pay to or on behalf of Indemnitee, then
(x) such Indemnitee shall be fully subrogated to and otherwise succeed to all rights of Indemnitee with respect to such payment, including with respect to rights to claim such amounts from any of the Company, and (y) the Company shall
reimburse, indemnify and hold harmless such Indemnitee for all such payments actually made by such Person on behalf of or for the benefit of Indemnitee. The Company hereby unconditionally and irrevocably waives, relinquishes and releases (and
covenants and agrees not to exercise), any claims or rights that the Company may now have or hereafter acquire against any Indemnitee (in any capacity) that arise from or relate to the existence, payment, performance or enforcement of the
Company’s obligations under this Section 3.8 or under any other indemnification obligation, including any right of subrogation, reimbursement, exoneration, contribution or indemnification and any right to participate
in any claim or remedy of any Indemnitee against any Indemnitee, whether such claim, remedy or right arises in equity or under contract, statute, common law or otherwise, including any right to claim, take or receive from any Indemnitee, directly or
indirectly, in cash or other property or by set-off or in any other manner, any payment or security or other credit support on account of such claim, remedy or right. For purposes of this
Section 3.8, “Losses” means any judgments, penalties (including excise and similar taxes and punitive damages), fines, settlements and reasonable expenses (including reasonable attorneys’ fees
and expenses) or other losses. 
 Section 3.9.Duties. Subject to Section 3.6(c), the Managers and Officers,
in the performance of their duties as such, and the Members in their capacities as such, shall owe to the Company and the other Members only those duties and obligations that are specifically agreed to by the parties in this Agreement, and to the
extent that this Agreement does not impose on such Persons or restricts any duties (including any fiduciary duties) otherwise existing at law or in equity, the parties hereto disclaim any reliance on such duties and agree to such restrictions.
Subject to Section 3.6(c), no Manager, Officer or Member has duties (including fiduciary duties) with respect to their status as a Manager, Officer or Member to the Company, its Subsidiaries, or any other Manager or Member.
Subject to Section 3.6(c), no Manager, Officer or Member shall be liable for breach of any duties (including fiduciary duties) with respect to their status as a Manager, Officer or Member, to the Company, its Subsidiaries,
or any other Manager or Member. This Section 3.9 shall be deemed to provide for the elimination of all such duties to the maximum extent permitted by Section 18-1101(e) of the
Delaware Act. Without limiting the foregoing, to the maximum extent permitted from time to time under the law of the State of Delaware, the 

  
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Company renounces any interest or expectancy of the Company in, or in being offered an opportunity to participate in, business opportunities that are from time to time presented to its Members,
Managers and Officers, other than those Managers and Officers who are full-time employees of the Company or a Subsidiary thereof. 

ARTICLE IV. 

MEMBERS’ RIGHTS 

Section 4.1.Action Without a Meeting. Any action required or permitted to be taken by a Member or Members hereunder shall be taken
without a meeting by a consent in writing setting forth the action so taken shall be signed by Members possessing not less than the minimum number or percentage, as applicable, of votes or Units that are necessary to authorize or take such action.
Notwithstanding the foregoing, such consent in writing shall be sent to such Members prior to such action being taken. For purposes of the foregoing, an action shall be deemed to have been taken in writing via email communication if (a) an
email communication is sent to the Members entitled to vote on the matter at issue clearly specifying the action to be taken and clearly stating that an email response to such email shall be deemed to be an email communication for purposes of this
Section 4.1, (b) the requisite number of such Members so respond to such email resulting in either a vote in favor or disfavor of the action(s), and (c) such email and all such responses thereto are filed in the books
and records of the Company. Prompt notice of the action so taken without a meeting shall be given to those Members entitled to vote or consent who have not consented in writing. 

Section 4.2.Seller Group Consent Rights. The Company will not, and will cause its Subsidiaries not to, directly or indirectly, take any
of the following actions (the “Seller Group Approval Matters”) without the prior written consent of the Seller Group; it being understood that (x) the written consent of (i) WCAS and (ii) at least Shields or
UMass shall constitute sufficient consent on all Seller Group Approval Matters on behalf of the Seller Group and (y) no member of the Seller Group shall have any consent rights pursuant to this Section 4.2 if such
Person ceases to own, directly or indirectly, at least twenty-five percent (25%) of the Units owned by such Person immediately following the Effective Date, which in the case of (i) UMass shall include Common Units held by Shields Holdings to
the extent of UMass’ ownership of Shields Holdings and in the case of Shields shall include Common Units held by Shields Holdings to the extent of Shields’ ownership of Shields Holdings and (ii) WCAS shall include Common Units held by
WCAS Blocker to the extent of the ownership of the WCAS Group in WCAS Blocker1: 

(a) amend or waive any provision of the Company’s Organizational Documents if such action would reasonably be expected to
(i) adversely affect the rights of any Seller or (ii) disproportionately impact a Seller relative to any other Seller; 

(b) except as set forth in Sections 3.2(a)(vi), 3.2(b) and 3.2(c), increase or decrease the authorized
number of Managers or otherwise alter the composition of the Board; 
  

	1 	 Note to Draft: Update to reflect any distributions from Shields to UMass. 

  
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 (c) unless otherwise approved in the Company’s annual plan and budget,
commence any new line of business or materially change the business model or strategy of the Company and its Subsidiaries in effect as of the Effective Date; 

(d) enter into any Sale Transaction or, prior to August 19, 2022, any initial Public Offering; 

(e) unless otherwise approved in the Company’s annual plan and budget, cease any business line which represents five
percent (5%) or more of the Company’s consolidated revenues at the time of such cessation; 
 (f) except as otherwise
permitted in this Agreement, approve any redemption of any Company Equity Securities or declare or make any distribution in respect of any Company Equity Securities; 

(g) issue any Company Equity Securities (or any Equity Securities of any Subsidiary of the Company); 

(h) make or change any material tax election or take any other action pertaining to tax status, in each case if such election
or action could have a disproportionate and material adverse effect on the Seller Group, or approve or amend any accounting policies that are material to the Company and its Subsidiaries as a whole, except as required by applicable law or GAAP; 

(i) except as otherwise permitted pursuant to this Agreement, enter into any agreement, contract or transaction between the
Company or any Subsidiary thereof, on the one hand, and any Member or any of its Affiliates, on the other hand, other than (i) any agreements or contracts entered into by the Company or a Subsidiary thereof with an employee of the Company or a
Subsidiary thereof solely in his or her capacity as an employee, (ii) any agreement, contract or transaction expressly contemplated by this Agreement, or (iii) any other transaction entered into in the ordinary course of business on arm’s-length terms; 
 (j) unless otherwise approved in the Company’s annual plan
and budget, acquire or sell, or enter into any agreement or commitment to acquire or sell, assets outside of the ordinary course of business; 

(k) unless otherwise approved in the Company’s annual plan and budget, enter into, modify, or terminate any material joint
venture or material corporate strategic relationship with any Person; 
 (l) unless otherwise approved in the Company’s
annual plan and budget, and except with respect to any refinancing of any Debt facility of the Company that does not result in Debt in excess of 8.0x the Company’s trailing twelve month Adjusted EBITDA: incur, issue, assume or guarantee
(i) any material Debt or (ii) Debt in excess of 8.0x the Company’s trailing twelve month Adjusted EBITDA; 

  
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 (m) commence a voluntary liquidation,
winding-up or dissolution, or file any petition in bankruptcy, in each case, with respect to the Company or any Subsidiary thereof; or 

(n) approve any amendments to the annual plan and budget for the Company and its Subsidiaries. 

Section 4.3.Information Rights. The Company shall provide, or cause to provided, to each Voting Investor that beneficially owns any
issued and outstanding Units reasonable access to the properties, books and records, personnel and advisors (including outside auditors) of the Company and its Subsidiaries, at reasonable hours and upon reasonable advance notice, provided that such
access is also granted to the Walgreens Group’s advisors (including attorneys and accountants). The Company shall also deliver to each Voting Investor that beneficially owns any issued and outstanding Units (i) consolidated audited
financial statements of the Company and its Subsidiaries within five (5) Business Days after the date on which the Board has approved such consolidated audited financial statements, and the Company shall use reasonable best efforts to cause
such audited financial statements to be delivered in any event no later than 120 days after the relevant fiscal year-end, (ii) consolidated unaudited quarterly financial statements of the Company and its
Subsidiaries within five (5) Business Days after the date on which such consolidated unaudited quarterly financial statements are delivered to the Board, and the Company shall use reasonable best efforts to cause such unaudited financial
statements to be delivered in any event no later than 60 days after the relevant fiscal quarter-end, (iii) consolidated unaudited monthly financial statements of the Company and its Subsidiaries within
five (5) Business Days after the date on which such consolidated unaudited monthly financial statements are delivered to the Board, and the Company shall use reasonable best efforts to cause such monthly financial statements to be delivered in
any event no later than 45 days after the relevant month-end and (iv) such other financial or operating information regarding the Company and its Subsidiaries as such Voting Investor may reasonably
request from time to time, including such information as such Voting Investor may in good faith deem necessary or advisable for such Voting Investor’s external reporting and compliance with applicable securities laws and requirements of
applicable securities exchanges, if applicable, including in the case of Walgreens, for its consolidation of the financial statements of the Company with those of Walgreens Parent for financial reporting purposes and the external reporting thereof.

 ARTICLE V. 
 CAPITAL
CONTRIBUTIONS; ALLOCATIONS; DISTRIBUTIONS 
 Section 5.1.Capital Contributions. The Members listed on Schedule A hereto on
the date hereof have made on or prior to the date hereof the Capital Contributions to the Company described on Schedule B hereto. No Member shall be entitled (except as provided in Article XI) to make any additional Capital
Contributions without the approval of the Board or required to make any additional Capital Contributions without such Member’s express written agreement. In connection with any issuance of additional Units, the Board may accept such additional
Capital Contributions as it determines in its discretion. Schedule B shall be updated from time to time in the event additional Capital Contributions are made by the Members and to reflect Transfers of a Member’s interest in the Company.

  
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 Section 5.2.Capital Accounts. 

(a) Creation. There shall be established for each Member on the books of the Company a Capital Account which shall be
increased or decreased in the manner set forth in this Agreement. 
 (b) Negative Balance. A Member shall not have any
obligation to the Company or to any other Member to restore any negative balance in the Capital Account of such Member. 

Section 5.3.Allocations of Net Income and Net Loss. 

(a) Timing and Amount of Allocations of Net Income and Net Loss. Net Income and Net Loss of the Company shall be
determined and allocated with respect to each fiscal year of the Company as of the end of each such year or as circumstances otherwise require or allow. The Board shall allocate the Net Income and Net Loss among the Members in a manner that as
closely as possible gives economic effect to the provisions of this Agreement. Subject to the other provisions of this Section 5.3, an allocation to a Member of a share of Net Income or Net Loss shall be treated as an
allocation of the same share of each item of income, gain, loss or deduction that is taken into account in computing Net Income or Net Loss. Except as otherwise provided in this Agreement, economic effect will be given to the provisions of this
Agreement by allocating Net Income and Net Loss (and, to the extent determined to be appropriate by the Board, individual items of income, gain, loss, deduction or credit) of the Company shall be allocated among the Members in a manner such that,
after giving effect to the regulatory allocations set forth in Section 5.3(b), the Capital Account balance of each Member, immediately after making such allocation, is, as nearly as possible, equal (proportionately) to
(i) the distributions that would be made to such Member if the Company were dissolved, its affairs wound up and its assets sold for cash equal to their Gross Asset Value, all Company liabilities were satisfied (limited with respect to each
nonrecourse liability to the Gross Asset Value of the assets securing such liability), and the net assets of the Company were distributed, in accordance with Section 5.4(b) (taking into account Sections 5.4(c) and
5.4(e) to the extent required under Section 5.4(b)) to the Members immediately after making such allocation, minus (ii) such Member’s share of “partnership minimum gain” (determined in accordance
with the principles of Regulations Section 1.704-2(d)) and “partner nonrecourse debt minimum gain” (determined in accordance with the principles of Regulations
Section 1.704-2(i)), computed immediately before the hypothetical sale of assets; provided, however, that in the event that the Board determines in good faith that any allocation resulting from the
foregoing portion of this sentence does not give economic effect to the provisions of this Agreement, the Board may revise such allocation in good faith to give economic effect to the provisions of this Agreement. 

(b) Regulatory Allocations. Provisions governing the allocation of income, gain, loss, deduction and credit (and items
thereof) are included in this Agreement as may be necessary to provide that the Company’s allocation provisions contain a so-called “Qualified Income Offset” and comply with all provisions
relating to the allocation of so-called “Non-recourse Deductions” and “Partner Non-recourse Deductions” and
the chargeback thereof as set forth in the Regulations under Section 704(b) of the Code. 

  
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 (c) Allocations upon Transfer. For any fiscal year during which a
Member’s interest in the Company is assigned by such Member, the portion of the Net Income and Net Loss of the Company that is allocable in respect of such Member’s interest shall be apportioned between the assignor and the assignee of
such Member’s interest using any permissible method under Code Section 706 and the Regulations thereunder as reasonably determined by the Board, but only in a manner that is not materially disadvantageous to a Member in favor of another
Member. 
 (d) Required Tax Allocations. All items of income, gain, loss, deduction and credit for federal income tax
purposes shall be allocated to each Member in the same manner as the Net Income or Net Loss (and each item of income, gain, loss and deduction related thereto) that is allocated to such Member pursuant to Section 5.3(a),
(b) and (c) to which such tax items relate. Notwithstanding the foregoing provisions of this Section 5.3, income, gain, loss, deduction, and credits with respect to property contributed to the Company by
a Member shall be allocated among the Members for federal and state income tax purposes pursuant to Regulations promulgated under Section 704(c) of the Code, so as to take account of the variation, if any, between the adjusted basis for federal
income tax purposes of the property to the Company and its initial Gross Asset Value at the time of contribution; provided that the Company shall elect the use of the “traditional allocation method” under Treasury Regulations Section 1.704-3(b) unless otherwise agreed by Shields and UMass. In the event the Gross Asset Value of any Company asset is adjusted pursuant to subparagraph (b), (c), or (d) of the definition of Gross
Asset Value, subsequent allocations of income, gain, loss, deduction, and credits with respect to such asset shall take account of the variation, if any, between the adjusted basis of such asset for federal income tax purposes and its Gross Asset
Value in the same manner as under Code Section 704(c) and the applicable Regulations consistent with the requirements of Regulations Section 1.704-1(b)(2)(iv)(g). Allocations pursuant to this
Section 5.3(d) are solely for purposes of federal, state and local income taxes and shall not affect, or in any way be taken into account in computing, any Member’s Capital Account or share of Net Income, Net Loss,
other tax items or distributions pursuant to any provision of this Agreement. 
 (e) Members’ Tax Reporting. The
Members acknowledge and are aware of the income tax consequences of the allocations made by this Section 5.3 and, except as may otherwise be required by applicable law or regulatory requirements, hereby agree to be bound by
the provisions of Section 5.3 in reporting their shares of Company income, gain, loss, deductions, and credits for federal, state and local income tax purposes. 

Section 5.4.Distributions. 

(a) Timing and Valuation. Subject to the provisions of Section 5.4(e), Distributable Assets
shall be distributed by the Company only at such times and in such amounts as is determined by the Board in its sole discretion. All such Distributable Assets shall be valued by the Board in its good faith discretion for purposes of distributions
hereunder, except that Equity Securities must be valued by the Board consistent with the definition of Fair Market Value. 

  
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 (b)    Priority in Distributions. Subject to
Section 5.4(c), Section 5.4(e) and the vesting terms of any Management Incentive Units, in connection with any distribution, all Distributable Assets shall be distributed to the holders of the
Common Units on a pro rata basis determined by reference to the number of such Common Units held by each such holder. 

(c)    Special Management Incentive Unit Provisions. Notwithstanding the provisions of
Section 5.4, each distribution that would otherwise be made in respect of any Management Incentive Unit shall be reduced up to the amount of such distribution until the aggregate amount of all reductions made with respect
to such Management Incentive Unit equals the Distribution Threshold with respect to such Management Incentive Unit (the “Common Unit Reduction Amount”). The Common Unit Reduction Amount shall be distributed to all holders of
Common Units in accordance with Section 5.4(b). Notwithstanding Section 5.4(b), any distributions that would otherwise be made under Section 5.4(b) to any holder of
Unvested Management Incentive Units shall not be made to such holder with respect to such Unvested Management Incentive Units unless and until such Unvested Management Incentive Units become Vested Management Incentive Units. Any distributions
pursuant to Section 5.4(b) that would otherwise be made with respect to Unvested Management Incentive Units shall be held by the Company until such Unvested Management Incentive Units vest, at which time any such retained
distributions shall promptly be distributed, without interest, to the holder of such then-Vested Management Incentive Units. If any holder of Unvested Management Incentive Units is required to forfeit such Unvested Management Incentive Units or such
Unvested Management Incentive Units are otherwise terminated under the terms set forth in the applicable equity plan, or other agreement or document pursuant to which such Unvested Management Incentive Units were issued or granted, any such retained
distributions shall also be immediately forfeited by such holder and shall thereafter be considered available to be distributed to the holders of Common Units pursuant to Section 5.4(b). 

(d)    Successors. For purposes of determining the amount of distributions under this
Section 5.4, each Member shall be treated as having received amounts received by its predecessors and any prior holders of such Units in respect of any of such Member’s Units. 

(e)    Tax Distributions. To the extent there is taxable income for any taxable year and cash is
available as determined by in good faith by the Board, the Board shall cause the Company to make a tax distribution in cash no less often than quarterly (in advance of applicable deadlines for filing estimated taxes) to each Member (whether or not
such Member or such Member’s investors are tax exempt) in an amount equal to the excess of (i) the product of (A) the cumulative taxable income allocable to such Member in excess of the cumulative taxable loss allocable to such Member
for all taxable years beginning on or after the date of this Agreement and prior to the year in which such distribution is being made, as estimated in good faith by the Board (it being understood that such cumulative tax losses will be taken into
account only to the extent they offset taxable income in a prior 

  
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taxable year or can be used to offset taxable income allocable to such Member in the current taxable year) and (B) the maximum effective combined tax rate, including any Medicare
Contribution tax on net investment income, applicable to an individual or corporation resident in Boston, Massachusetts, whichever is higher for the relevant taxable year taking into account, if and to the extent applicable, the character of the
relevant income or loss, the apportionment of the Company’s taxable income to certain states and localities, Section 199A of the Code, and the deductibility, subject to applicable limitations, of any state or local tax in computing any
state or federal tax liability but not taking into account any adjustment to tax basis of the assets of the Company and its Subsidiaries under Section 743 of the Code (the “Tax Distribution Rate”), or such other rate as
determined by the Board in its good faith discretion, over (ii) all prior distributions pursuant to this Section 5.4 for such taxable year. The parties hereto understand and agree that in the event that any credit
agreement to which the Company or any of its Subsidiaries is a party limits the aggregate amount of Tax distributions that can be made for any taxable year to an amount less than the aggregate amount of Tax distributions that would be payable under
the preceding sentence applying the Tax Distribution Rate, (I) the amount of Tax distributions that would otherwise be payable to WCAS and Walgreens shall first be reduced, but not below the amount of Tax distributions that WCAS and Walgreens
would be entitled to receive applying the maximum effective combined tax rate applicable to a corporation resident in Boston, Massachusetts after taking into account any adjustment to tax basis of the assets of the Company and its Subsidiaries under
Section 743 of the Code, and (II) thereafter, any further reduction in the Tax distributions would be borne by the Members pro rata based on the amount of Tax distributions that were otherwise payable to them after any adjustment described
in the foregoing clause (I). Tax distributions to a Member shall be offset against and reduce the amount of the next succeeding distribution or distributions which such Member would otherwise be entitled to receive pursuant to this Agreement. To the
extent that an amount otherwise distributable to a Member is so applied, it shall be treated for all purposes hereof as if such amount had actually been distributed to such Member pursuant to this Agreement. 

(f) In order that the Company may determine the Members entitled to receive payment of any distribution with respect to Units,
the Board may fix a record date, which record date shall not precede the date upon which the resolution fixing the record date is adopted. If no record date is fixed, the record date for determining Members for any such purpose shall be at the close
of business on the day on which the Board adopts the resolution relating thereto. 
 (g) In connection with a Sale
Transaction that involves the Transfer of Units, the aggregate consideration payable in respect of the Units to be sold in any such Sale Transaction must be allocated among the Units subject thereto on a basis consistent with the consideration that
each Member would receive in respect of such Units if all of the Company’s assets had been sold for the implied value of the Company (as determined in good faith by the Board, based on the consideration being received by the Members in respect
of the Units being transferred by them in the Sale Transaction, such Board determination to be final and binding on the Members) and the proceeds had been distributed pursuant to Section 5.4(b). 

  
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 Section 5.5.Right of Set-Off. The Company shall
have a right of setoff against all distributions of Distributable Assets in the amount of any withholding tax or other liability or obligation to which the Company or a Subsidiary is subject as a result of any act or status of any Member, or to
which the Company or a Subsidiary may reasonably be expected to become subject with respect to the interest of any Member, or, in the event that the Company becomes liable for any taxes, interest or penalties under the Budget Act (including as a
result of an audit of an entity taxed as a partnership for U.S. federal income tax purposes in which the Company owns a direct or indirect interest) following a final determination of such liability by the relevant governmental authority, such
Member’s allocable share of the amount of such tax liability, including any interest and penalties associated therewith, as reasonably determined by the Board in accordance with the Code. The Company may withhold distributions or portions
thereof if it is required to do so by the Code or any other provision of federal, state or local tax or other law. Any amount withheld pursuant to the Code or any other provision of federal, state or local tax or other law with respect to any
distribution to a Member shall be treated as an amount distributed to such Member for all purposes under this Agreement. Each Member agrees to indemnify the Company in full for any amounts paid by the Company to a governmental entity or regulatory
authority that are specifically attributable to a Member or a Member’s status as such (including, without limitation, any interest, penalties and expenses associated with such payments), and each Member shall promptly upon notification of an
obligation to indemnify the Company pursuant to this Section 5.5 make a cash payment to the Company equal to the full amount to be indemnified with interest to accrue on any portion of such cash payment not paid in full, as
reasonably determined by the Company, when requested by the Company. A Member’s obligation to indemnify and make contributions to the Company under this Section 5.5 shall survive the termination, dissolution,
liquidation and winding up of the Company, and for purposes of this Section 5.5, the Company shall be treated as continuing in existence. 

ARTICLE VI. 
 WITHDRAWAL;
DISSOLUTION; NEW AND SUBSTITUTE MEMBERS 
 Section 6.1.Withdrawal. No Member shall have the power or right to withdraw or otherwise
resign or be expelled from the Company prior to the dissolution and winding up of the Company except pursuant to a transfer permitted under this Agreement of all of such Member’s Units. Notwithstanding anything to the contrary contained in the
Act, in no event shall any Member be deemed to have withdrawn from the Company or cease to be a Member upon the occurrence of any event (other than dissolution and winding up of the Company pursuant to Section 6.2) unless
the Member, after the occurrence of such event, indicates in a written instrument delivered to the Company that the Member has so withdrawn. 

Section 6.2.Dissolution. 

(a) Events. The Company shall be dissolved and its affairs shall be wound up on the first to occur of the following:

 (i) the entry of a decree of judicial dissolution of the Company under
Section 18-802 of the Act; and 

  
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 (ii) upon the liquidation, dissolution or winding up of the Company as
approved by the Board. 
 The death, retirement, resignation, expulsion, incapacity, bankruptcy or dissolution of a Member, or the occurrence of any other
event that terminates the continued membership of a Member in the Company, shall not cause a dissolution of the Company, and the Company shall continue in existence subject to the terms and conditions of this Agreement. 

(b) Actions Upon Dissolution. When the Company is dissolved, the business and property of the Company shall be wound up
and liquidated by the Board or, in the event of the unavailability of the Board, such Member or liquidating trustee as shall be named by the Board. A reasonable time shall be allowed for the orderly liquidation of the assets of the Company and the
discharge of liabilities to creditors so as to enable the Members to minimize the normal losses attendant upon a liquidation. 

(c) Priority. Following completion of the wind up and liquidation process, the assets of the Company shall be
distributed in the following manner and order: 
 (i) all debts and obligations of the Company, if any, shall first be paid,
discharged or provided for by adequate reserves in accordance with the Act; and 
 (ii) the balance shall be distributed to
the Members in accordance with Section 5.4(b). 
 (d) Cancellation of Certificate. On
completion of the distribution of Company assets as provided herein, the Company shall be terminated, and shall file a certificate of cancellation with the Secretary of State of the State of Delaware, cancel any other filings made and take such
other actions as may be necessary to terminate the Company. 
 Section 6.3.Transfer of Units. Any proposed transfer or assignment by a
Member of all or part of its interest in the Company shall be subject to the restrictions on transfer set forth in Article VII. Subject to the foregoing, any Member who shall assign any Units in the Company shall cease to be a Member of the
Company with respect to such Units and shall no longer have any rights or privileges of a Member with respect to such Units. Any Member who acquires in any manner whatsoever any Units, irrespective of whether such Person has accepted and adopted in
writing the terms and provisions of this Agreement, shall be deemed by the acceptance of the economic benefits of the acquisition thereof to have agreed to be subject to and bound by all of the terms and conditions of this Agreement that any
predecessor in such Units or other interest in the Company was subject to or by which such predecessor was bound. Except as provided in Section 7.1(a) with respect to the Walgreens Group, no Member shall cease to be a
Member upon the collateral assignment of, or the pledging or granting of a security interest in, its interest in the Company. 

  
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 Section 6.4.New and Substitute Members. 

(a) Admission. Subject to the transfer restrictions in Article VII, the Board shall have the right but not the
obligation (except in the case of transfers permitted pursuant to Articles VII, VIII, and IX, in which case the Board shall be obligated) the Board shall have the right but not the obligation to admit as a Substitute Member or
an Additional Member, any Person who acquires an interest in the Company, or any part thereof, from a Member or from the Company. Concurrently with the admission of a Substitute Member or an Additional Member, the Board shall forthwith cause any
necessary papers to be filed and recorded and notice to be given wherever and to the extent required showing the substitution of a transferee as a Substitute Member in place of the transferring Member, or the admission of an Additional Member, all
at the expense, including payment of any professional and filing fees incurred, of the Substitute Member or the Additional Member (unless otherwise approved by the Board, in which case, the Company may cover said expenses). 

(b) Conditions. The admission of any Person as a Substitute Member or Additional Member shall be conditioned upon such
Person’s written acceptance and adoption of all the terms and provisions of this Agreement, either by (i) execution and delivery of a counterpart signature page to this Agreement countersigned by an authorized Officer on behalf of the
Company or (ii) if requested by the Board, a writing evidencing the intent of such Person to become a Substitute Member or Additional Member (in form and substance satisfactory to the Board). 

Section 6.5.Compliance with Law. Notwithstanding any provision hereof to the contrary, no sale or other disposition of an interest in the
Company may be made except in compliance with all federal, state and other applicable laws, including federal and state securities laws. 

ARTICLE VII. 
 TRANSFERS

 Section 7.1.Transfers. 

(a) No Beneficial Owner may Transfer any Units (or other securities exercisable or exchangeable for or convertible into Units
(collectively, “Company Equity Securities”)), other than any Transfer of Units that is made (i) in connection with a Sale Transaction approved in accordance with this Agreement; (ii) in accordance with Article
VIII (in the capacity as a Tag-Along Investor); (iii) in accordance with the put/call rights of Article IX; (iv) to a Designated Affiliate or (v) with the prior written consent of
Walgreens. Notwithstanding anything herein to the contrary, in no event shall any Member Transfer any Unit to a Prohibited Transferee. Notwithstanding the foregoing, no party hereto shall avoid the provisions of this Agreement by making one or more
Transfers to one or more Designated Affiliates and then disposing of all or any portion of such party’s interest in any such Designated Affiliate. Notwithstanding anything herein to the contrary, nothing in this Agreement shall prohibit any
member of the Walgreens Group from pledging its Company Equity Securities, in whole or in part, to a third-party lender without the consent of the other Members. 

  
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 (b) No Beneficial Owner may Transfer all or any portion of its direct or
indirect beneficial ownership of any Units (or other Company Equity Securities) other than any such Transfer that is made in accordance with this Section 7.1. No Beneficial Owner that is an entity of which the Units
represent more than 50% of the assets of such entity shall issue any additional Equity Securities. 
 (c) Notwithstanding the
foregoing, any employee, officer or director of the Company or any of its Subsidiaries may Transfer Company Equity Securities to the Company or any of its Subsidiaries. Any attempted Transfer of Company Equity Securities in violation of the
provisions of this Agreement shall be null and void ab initio and of no effect. The Company shall not issue any Company Equity Securities exercisable or exchangeable for or convertible into Units unless the holder thereof agrees to be bound
by the transfer restrictions contained in this Article VII. 
 (d) Notwithstanding anything in this Agreement to the
contrary, except as otherwise agreed by the Board in its sole discretion, as a condition to any proposed Transfer: 
 (i) if
the Member who proposes to Transfer its Company Equity Securities (or if such Member is a disregarded entity for U.S. federal income tax purposes, the first direct or indirect beneficial owner of such Member that is not a disregarded entity (the
“Member’s Owner”)) is a “United States person” as defined in Section 7701(a)(30) of the Code, then such Member (or the Member’s Owner, if applicable) shall complete and
provide to both of the transferee and the Company, a duly executed affidavit in the form provided to such transferor by the Company, certifying, under penalty of perjury, that the Member (or Member’s Owner, if applicable) is not a foreign
person, nonresident alien, foreign corporation, foreign partnership, foreign trust, or foreign estate (as such terms are defined under the Code and applicable Treasury Regulations, including for purposes of Code Sections 1445 and 1446) and the
Member’s (or Member’s Owner’s, if applicable) United States taxpayer identification number; or 
 (ii) if the
Member who proposes to Transfer its Company Equity Securities (or if such Member is a disregarded entity for U.S. federal income tax purposes, the Member’s Owner) is not a “United States person” as defined in Section 7701(a)(30)
of the Code, then such assignor and assignee shall jointly provide to the Company written proof reasonably satisfactory to the Board that any applicable withholding tax that may be imposed on such transfer or assignment (including, but not limited
to, pursuant to Sections 864 and 1446 of the Code) and any related tax returns or forms that are required to be filed, have been, or will be, timely paid and filed, as applicable. 

(e) No Member will directly or indirectly Transfer all or any portion of such Member’s Company Equity Securities if such
Transfer would cause the Company to be categorized as a “publicly traded partnership” within the meaning of Section 7704 of the Code. 

  
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 Section 7.2.WCAS Group Blocker Corporation/UMass Blocker Corporation. Any member of the WCAS Group or the UMass Group may, in lieu of Transferring Units directly, Transfer equity securities of an entity that is an association taxable as a corporation for U.S. federal
income tax purposes (including WCAS itself) which entity owns Units (a “WCAS Blocker Corporation” or a “UMass Blocker Corporation”). Any such Transfer of equity securities in a WCAS Blocker Corporation
or a UMass Blocker Corporation will be without any discount in consideration received for such equity relative to any consideration contemporaneously received with respect to a sale of Units, and such Transfer will be subject to the provisions of
Articles VIII and IX, if applicable, with the number of Units being Transferred for purposes of such Articles determined on a “look through” basis based on the number of Units owned by such WCAS Blocker Corporation or UMass
Blocker Corporation and the percentage of equity interests of the WCAS Blocker Corporation or UMass Blocker Corporation being Transferred. In addition, in connection with any sale or similar transaction with a third party involving Units, if
requested by a WCAS Blocker Corporation or UMass Blocker Corporation, the Company and the Members shall negotiate such transaction so as to include a right on the part of the owners of the WCAS Blocker Corporation or UMass Blocker Corporation to
dispose of their securities in such WCAS Blocker Corporation or UMass Blocker Corporation on terms and conditions such that the owners of the WCAS Blocker Corporation or UMass Blocker Corporation receive the same amount per Unit indirectly owned
through such WCAS Blocker Corporation or UMass Blocker Corporation as those Members selling Units directly. 
 Section 7.3.Securities
Law Compliance. No Member shall effect any Transfer of Company Equity Securities unless such Transfer is made pursuant to an effective registration statement under the Securities Act or pursuant to an exemption from, or in a transaction not subject
to, the registration requirements of the Securities Act and, in either case, in compliance with all applicable state securities laws. The Company shall not cause or permit the Transfer of any Company Equity Securities to be made on its books (or on
any register of securities maintained on its behalf) unless the Transfer is permitted by, and has been made in accordance with the terms of this Agreement and all applicable federal and state securities laws. Any attempted Transfer in violation of
the terms hereof shall be null and void ab initio and of no effect. In connection with any Transfer of Company Equity Securities by a Member that is not made pursuant to a registered public offering, the Company may, in its sole discretion,
request an opinion in form and substance reasonably satisfactory to the Company of counsel to such Member (which may include internal counsel of a Member) reasonably satisfactory to the Company stating that such transaction is exempt from
registration under the Securities Act and in compliance with applicable state securities laws. 
 Section 7.4.Certificates. Nothing
contained herein shall require the delivery of any certificate to any Member at any time when the Units are not certificated. 

Section 7.5.Representations of Members. Each Member represents and warrants to the Company and each other Member that such Member: 

  
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 (a)    understands and acknowledges that the Units held
by such Member were granted or sold under an exemption from registration provided for in the Securities Act, and accordingly, must be held indefinitely by such Member unless the Units are subsequently transferred in transactions that are either
registered under the Securities Act or exempt from registration; 
 (b)    understands that the Company
is under no obligation to register the offer and sale of the Units under the Securities Act or to file for or comply with an exemption from registration, and recognizes that exemptions from registration, in any case, are limited and may not be
available when such Member may wish to offer, sell, transfer, pledge or otherwise dispose of the Units; 

(c)    acknowledges that the issuance of the Units has not been scrutinized by the United States Securities
and Exchange Commission or by any federal or state or foreign regulatory or governmental authority charged with the administration of the securities laws; 

(d)    has such knowledge and experience in financial and business matters as to be capable of evaluating
the merits and risks of owning the Units, has fully considered, for purposes of owning the Units, and understands that: (i) owning the Units is a speculative investment which involves a high degree of risk of loss of the entire investment by
such Member; (ii) that there will be no public market for the Units and accordingly, it may not be possible for the Member to liquidate the Units in case of an emergency; and (iii) such Member’s right to transfer the Units is limited
as set forth herein and under law; 
 (e)    has had the opportunity to discuss the tax consequences of
ownership of the Units with such Member’s attorney, and/or accountant or other representatives, if any; and 

(f)    will own the Units solely for such Member’s own account, for investment purposes only, and not
with a view to, or in connection with, any resale or distribution thereof and such Member has no contract, undertaking, understanding, agreement or arrangement, formal or informal, with any Person to sell, transfer, pledge or otherwise transfer to
any Person or otherwise dispose of the Units, or any part thereof, any interest therein or any rights thereto and no present plans to enter into any such contract, undertaking, agreement or arrangement. 

The foregoing representations and warranties are made by each Member and such Member hereby agrees that such representations and warranties
shall survive the grant, purchase, or receipt of the Units by the Company to such Member. 

  
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 ARTICLE VIII. 

TAG-ALONG RIGHTS 

Section 8.1.Tag-Along Sale. 

(a)    At least fifteen (15) Business Days prior to any Transfer of Units by a member of the Walgreens
Group (other than a Transfer being made to a Designated Affiliate) the member of the Walgreens Group making such Transfer (the “Transferring Investor”) shall deliver a written notice (the “Tag-Along Notice”) to the Company and the other Members (including, for the avoidance of doubt, the other Beneficial Owners) (the “Tag-Along
Investors”) specifying in reasonable detail the identity of the prospective transferee(s) and the terms and conditions of the Transfer (a “Tag-Along Sale”). The Tag-Along Notice shall set forth all the material terms and conditions of the Tag-Along Sale, including without limitation, (i) the number and type of Units proposed to
be so Transferred, (ii) the identity of the proposed transferee or acquiring Person, (iii) the proposed form, amount and timing of payment of the acquisition consideration, (iv) the amount and length of any proposed escrow or
holdback, (v) the caps, baskets, and survival of representation and warranty terms of any proposed indemnification obligations applicable to the Tag-Along Investors and (vi) any other material
proposed economic terms of the Tag-Along Sale. The Tag-Along Investors shall receive the definitive acquisition agreements for the
Tag-Along Sale no less than twenty (20) Business Days prior the proposed closing date for the Tag-Along Sale. The Tag-Along
Investors may elect to participate in the contemplated Tag-Along Sale by delivering written notice to the Transferring Investor within twenty (20) Business Days after delivery of the Tag-Along Notice or, in the case of a Tag-Along Sale that constitutes a Sale Transaction, may in the alternative exercise the Special Put Right contemplated by
Section 9.1(e). If any Tag-Along Investors elect to participate in such Tag-Along Sale, the Transferring Investor and such Tag-Along Investors will be entitled to sell in the contemplated Tag-Along Sale, on the same terms as the Transferring Investor (including the same covenants as the
Transferring Investor agrees to in the Tag-Along Sale) (provided that the proceeds in any Tag-Along Sale shall be distributed in the same manner as proceeds pursuant to
Section 5.4(b)): a number of Units (other than Management Incentive Units) (including, for the avoidance of doubt, WCAS Blocker Units in accordance with Section 7.2) equal to the product of
(A) the quotient determined by dividing the number of Common Units (other than Management Incentive Units) owned by such Tag-Along Investor, by the aggregate number of outstanding Common Units (other than
Management Incentive Units) owned by the Transferring Investor and the Tag-Along Investors participating in such sale, and (B) the number of Common Units to be sold in the contemplated Transfer. Whether
or not to effect a Tag-Along Sale shall be within in the sole and absolute discretion of the Transferring Investor. 

(b)    Each Transferring Investor will use commercially reasonable efforts to obtain the agreement of the
prospective transferee(s) to the participation of the Tag-Along Investors in any contemplated Tag-Along Sale, and the Transferring Investor will not Transfer any of its
Units to the prospective transferee(s) unless (i) the prospective transferee(s) agrees to allow the participation of the Tag-Along Investors, or (ii) the Transferring Investor(s) agree to purchase
the number of Units and WCAS Blocker Units from the Tag-Along Investors that the Tag-Along Investors would have been entitled to sell pursuant to this
Section 8.1. 

  
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 (c)    Each
Tag-Along Investor (and the Beneficial Owners that beneficially own Equity Securities of such Tag-Along Investor) shall (i) be obligated to join, on a pro
rata (but not joint and several) basis (based on the consideration received by such Tag-Along Investor relative to the consideration received by all selling Members in
Tag-Along Sale) (the “Tag-Along Pro Rata Basis”), in any indemnification obligations that the Transferring Investor(s) agrees to provide in the Tag-Along Sale (other than in connection with obligations that relate to a particular Member, such as representations and warranties and covenants concerning itself or the Units to be transferred by it, for which
each Member shall agree to be solely responsible), (ii) make such representations and warranties concerning itself and the Units to be sold by it in connection with such Tag-Along Sale as the Transferring
Investor(s) make with respect to themselves and their Units (provided, however, that notwithstanding the foregoing, each Tag-Along Investor shall agree to join on a
Tag-Along Pro Rata Basis with respect to indemnification relating to the breach of any representation or warranty or covenant made by the Company, if any, in the
Tag-Along Sale) and (iii) agree to the same covenants as the Transferring Investor. Notwithstanding the forgoing, in no event shall any Tag-Along Investor be liable
for any indemnification obligations in excess of the amount of consideration received by such Tag-Along Investor in connection with such Tag-Along Sale. 

(d)    Each Transferring Investor(s) and each Tag-Along Investor
(and the Beneficial Owners that beneficially own Equity Securities of such Tag-Along Investor) shall be responsible for funding, on a Tag-Along Pro Rata Basis, any
adjustment in purchase price or escrow arrangements in connection with the Tag-Along Sale and any withdrawals from any such escrow, including any such withdrawals that are made with respect to claims arising
out of agreements, covenants, representations, warranties or other provisions relating to the Tag-Along Sale for which such Tag-Along Investor is liable (subject to the
limitations in Section 8.1(c)). 
 (e)    Each Transferring Investor(s) and
each Tag-Along Investor (and the Beneficial Owners that beneficially own Equity Securities of such Tag-Along Investor) shall be responsible, on a Tag-Along Pro Rata Basis, for the Costs incurred by the Company and the Transferring Investor in consummating the Tag-Along Sale to the extent not paid or reimbursed by the
Company, the acquiring Person or another Person (other than the Transferring Investor(s)). The Transferring Investor(s) shall be entitled to estimate, in their reasonable, good faith judgment, each Tag-Along
Investor’s share of such Costs and to withhold such amounts from payments owed to each Tag-Along Investor at the time of closing of the Tag-Along Sale; provided
that such estimate shall not preclude the Transferring Investor(s) from recovering additional amounts from the Tag-Along Investors in respect of each Tag-Along
Investor’s share of such Costs. If the amount withheld for estimated Costs is greater than the actual amount of Costs, the surplus shall be promptly paid to the Tag-Along Investors on a Tag-Along Pro Rata Basis. 

  
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 Section 8.2.Closing of Tag-Along Sale. At the
closing of such Tag-Along Sale, each of the Tag-Along Investors shall deliver all documents and instruments reasonably requested by the Transferring Investor(s)
evidencing the Transfer of such Tag-Along Investor’s Units which are to be sold in connection with such sale against payment of the purchase price therefor by check or wire transfer to the account or
accounts specified by such Tag-Along Investor. 
 ARTICLE IX. 

PUT/CALL RIGHTS 

Section 9.1.Put/Call Rights. 

(a)    At any time within the period that commences on March 31, 2023 (the “First Put/Call
Exercise Date”) and terminates on the date that is thirty (30) days following the First Put/Call Exercise Date (such period, the “First Put Window”), WCAS shall have the right, on behalf of each holder of
Common Units (which, for the avoidance of doubt, includes the WCAS Group to the extent of their ownership of WCAS Blocker) and each holder of Vested Management Incentive Units (each such holder who exercises a Put Right (as defined below), a
“Put Seller”, and each such right, together with the right pursuant to Section 9.1(b), a “Put Right”), but not the obligation, to deliver a written notice of election pursuant
to this Article IX to Walgreens and the Company (each such notice, a “Put Notice”, and the transaction resulting from any Put Notice delivered pursuant to Section 9.1(a) or
Section 9.1(b), a “Put”) to require Walgreens or its Designated Affiliate to purchase from such Put Seller up to fifty percent (50%) of the Common Units (including, for the avoidance of doubt, up to
50% of the WCAS Blocker Units held by the WCAS Group) and one hundred percent (100%) of the Exchanged Units (as hereinafter defined), as applicable, held by such Put Seller at the time of such exercise, in exchange for payment of an amount equal to
the Exercise Price multiplied by the number of Put Units to be sold by such Put Seller in accordance with this Section 9.1(a). 

(b)    At any time within the period that commences on March 31, 2024 (the “Second Put/Call
Exercise Date” and, together with the First Put/Call Exercise Date, each, a “Put/Call Exercise Date”) and terminates on the date that is thirty (30) days following the Second Put/Call Exercise Date (such
period, the “Second Put Window”), WCAS, acting on behalf of any Put Seller, shall have the right, but not the obligation, to deliver a Put Notice to require Walgreens or its Designated Affiliate to purchase from any Put
Seller up to one hundred percent (100%) of the Common Units (including, for the avoidance of doubt, 100% of the WCAS Blocker Units) and one hundred percent (100%) of the Exchanged Units (as hereinafter defined), as applicable, held by such Put
Seller at the time of such exercise, in each case in exchange for payment of an amount equal to the Exercise Price multiplied by the number of Put Units to be sold by such Put Seller in accordance with this Section 9.1(b).

 (c)    Walgreens or its Designated Affiliate shall have the right, but not the obligation (each, a
“Call Right”), from the date following the expiration date of the First Put Window to the date that is thirty (30) days following the expiration date of the First Put Window (the “First Call
Window”), and from the date following the expiration date of the Second Put Window to the date that is thirty (30) days following the expiration date of the Second Put Window, in each case, to deliver a written notice of election
pursuant to this Article IX to WCAS and the Company (each such notice, a “Call Notice”, and the 

  
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transaction resulting from any Call Notice, a “Call”) to require each holder of Common Units (including, for the avoidance of doubt, WCAS Blocker Units) and each holder of
Vested Management Incentive Units (each, a “Call Seller”) to sell to Walgreens or its Designated Affiliate all (but not less than all) of the Call Units held by such Call Seller at the time of such exercise, in each case in
exchange for payment to the applicable Call Seller of an amount equal to the Exercise Price multiplied by the number of Call Units to be sold by such Call Seller in accordance with this Article IX; provided that in the event any Call Seller
exercises a Put Right during the First Put Window and Walgreens or its Designated Affiliate exercises a Call Right during the First Call Window, the amount payable to such Call Seller shall be increased by an amount equal to the product of
(x) the difference in the Exercise Price for the Call Right minus the Exercise Price for the Put Right, multiplied by (y) the number of Put Units sold by such Call Seller in connection with such Put Right during the First Put Window. 

(d)    In connection with the exercise of (x) a Put Right, each holder of Vested Management Incentive
Units shall contribute to the Company the number of Vested Management Incentive Units to be Put, up to fifty percent (50%) of its Vested Management Incentive Units, in the case of the First Put/Call Exercise Date, and up to one hundred percent
(100%) of its Vested Management Incentive Units, in the case of any other Put Right and (y) a Call Right, each holder of Vested Management Incentive Units shall contribute to the Company one hundred percent (100%) of its Vested Management
Incentive Units, in the case of either the First Put/Call Exercise Date or the Second Put/Call Exercise Date, in each case in exchange for a number of Common Units (the “Exchanged Units”) having a value equal to the fair
market value (taking the distribution threshold of such contributed Vested Management Incentive Units into account) of such contributed Vested Management Incentive Units (a “Management Incentive Unit Contribution and
Exchange”). 
 (e)    Within thirty (30) days following each subsequent March 31st after the Second Put/Call Exercise Date (each such date, a “Clean-Up Put/Call Date” and each such period, a “Clean-Up Put Window”), then WCAS, on behalf of each Put Seller, shall have the opportunity, but not the obligation (each, a “Clean-Up Put
Right”), to deliver a Put Notice (each, a “Clean-Up Put”), to Walgreens and the Company with respect to all Common Units and Exchanged Units (after effecting a Management
Incentive Unit Contribution and Exchange for any of the Put Seller’s Vested Management Incentive Units (which, for the avoidance of doubt, will include Management Incentive Units that have vested after the Second Put/Call Exercise Date and
prior to the applicable Clean-Up Put/Call Date held by such Put Seller that were not purchased by Walgreens or its Designated Affiliate in respect of an earlier Put/Call Exercise Date or Clean-Up Put/Call Date). Any Clean-Up Put Right must be exercised by WCAS on behalf of all Sellers and all holders of Vested Management Incentive Units at the time of exercise
for the full amount of Put Units as provided in this Article IX. If WCAS has not exercised a Clean-Up Put Right during a Clean-Up Put Window on behalf of any
holder of Common Units or holder of Vested Management Incentive Units, Walgreens or its Designated Affiliate also shall have the opportunity, but not the obligation (each, a “Clean-Up Call
Right”), to deliver a Call Notice (each, a “Clean-Up Call”) to WCAS and the Company with respect to any Common Units or Exchanged Units (after effecting a Management
Incentive Unit 

  
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Contribution and Exchange for any of the Call Seller’s Vested Management Incentive Units (which, for the avoidance of doubt, will include Management Incentive Units that have vested after
the Second Put/Call Exercise Date and prior to the applicable Clean-Up Put/Call Date held by such Call Seller that were not purchased by Walgreens or its Designated Affiliate in respect of an earlier Put/Call
Exercise Date or Clean-Up Put/Call Date)); provided that any Clean-Up Call Right exercised by Walgreens or its Designated Affiliate shall be for all Call Units
outstanding at the time of such exercise. 
 (f)    WCAS, on behalf of each Put Seller, also shall have
the opportunity, but not the obligation, either (i) upon the occurrence of a Sale Transaction or (ii) in the event Walgreens or its Designated Affiliate breaches its obligation to pay when due the Exercise Price payable in respect of a Put
or Call, as applicable, in each case to deliver a Put Notice to Walgreens and the Company within ten (10) Business Days following the events described in clauses (i) or (ii) above, as applicable, to require Walgreens or its Designated
Affiliate (“Special Put Right”) to purchase all of each Put Seller’s Common Units and Exchanged Units (after effecting a Management Incentive Unit Contribution and Exchange for all of its Vested Management Incentive
Units), as applicable, held by the applicable Put Seller (each a “Special Put”) in exchange for payment of the Exercise Price calculated in accordance with this Article IX. Any Special Put Right must be exercised by
WCAS on behalf of all Sellers and all holders of Vested Management Incentive Units at the time of exercise for the full amount of Put Units as provided in this Article IX. 

(g)    The Members agree that WCAS shall deliver Put Notices to Walgreens on behalf of (i) the
Management Members with respect to their respective Management Incentive Units and Common Units, (ii) the Health System Co-Investors and (iii) the members of Shields Holdings with respect to the
Common Units allocable to such member in respect of his, her or its membership interests in Shields Holdings, in each case reflecting the respective elections of each member of each of the foregoing constituencies. 

(h)    If the members of Shields Holdings do not unanimously elect to exercise or refrain from exercising
their respective Put Right, Clean-Up Put Right or Special Put Right, the parties hereto shall use commercially reasonable efforts to cooperate with Shields Holdings to enable Shields Holdings to distribute the
Units allocable to the members of Shields Holdings desiring to exercise their respective Put Right, Clean-Up Put Right or Special Put Right prior to effecting the applicable Put,
Clean-Up Put or Special Put hereunder. 
 Section 9.2.Calculation of Exercise Price. 

(a)    On March 31 of each year (commencing March 31, 2023), and at such other times as
reasonably requested by WCAS or Walgreens in writing, the Company shall use commercially reasonable efforts to provide the Sellers and Walgreens with the Put/Call Measurement Period Financials; provided that if the Company does not provide the
Sellers and Walgreens with the Put/Call Measurement Period Financials on March 31 of any year, then the First Put Window, Second Put Window or Clean-Up Put Window, as applicable, shall not be deemed to
have begun until the applicable Put/Call Measurement Period Financials are provided to the Sellers and Walgreens. 

  
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 (b)    Within twenty (20) Business Days following
the election by Walgreens to exercise a Call Right or Clean-Up Call Right, as the case may be, by delivery of a Call Notice, Walgreens shall have delivered to WCAS a written notice setting forth a good faith
calculation of the Exercise Price to be paid for the Call Units and each of the components of the Exercise Price calculation, together with reasonable supporting detail with respect to the calculation of such amounts (the “Call Exercise
Price Notice”). Within twenty (20) Business Days following the election by WCAS, on behalf of any Put Sellers, to exercise a Put Right, Clean-Up Put Right or Special Put Right, as the case
may be, by delivery of a Put Notice, WCAS shall have delivered to Walgreens Parent on behalf of the Put Sellers, a written notice setting forth a good faith calculation of the Exercise Price to be paid for the Put Units to be purchased in connection
with the applicable Put, Clean-Up Put or Special Put, and each of the components of the Exercise Price calculation, together with reasonable supporting detail with respect to the calculation of such amounts
(the “Put Exercise Price Notice”). The calculations provided in any Put Exercise Notice or Call Exercise Price Notice shall be prepared in a manner consistent with the terms hereof (including the definitions contained herein)
and with the illustrative calculation set forth in Schedule E. 
 (c)    After receipt of a Call
Exercise Price Notice, WCAS shall have twenty (20) Business Days to review the Call Exercise Price Notice on behalf of the Call Sellers (the “Call Review Period”). The Call Exercise Price Notice shall be binding and
conclusive upon, and deemed accepted by, WCAS and the Call Sellers, unless WCAS shall have notified Walgreens in writing prior to the expiration of the Call Review Period of any dispute or objection thereto (any such written dispute or objection
being referred to as a “Call Objection”), setting forth in reasonable detail the basis for its dispute or objections and the specific adjustments (including dollar amounts) to the Exercise Price that WCAS on behalf of the
Call Sellers believes should be made. Any components of the Exercise Price not disputed or objected to in a Call Objection by WCAS shall be deemed to have been accepted by WCAS, the Call Sellers and Walgreens upon the expiration of the Call Review
Period. If no Call Objection is delivered by WCAS or if WCAS notifies Walgreens in writing that it has no such disputes or objections, in each case prior to the expiration of the Call Review Period, then the applicable Call Exercise Price Notice
shall be deemed to have been accepted by, and shall be final and binding upon the Call Sellers, WCAS and Walgreens. After receipt of a Put Exercise Price Notice, Walgreens shall have twenty (20) Business Days to review such Put Exercise Price
Notice (the “Put Review Period”). The Put Exercise Price Notice shall be binding and conclusive upon, and deemed accepted by, Walgreens, unless Walgreens shall have notified WCAS in writing prior to the expiration of the Put
Review Period of any dispute or objection thereto (any such written dispute or objection being referred to as a “Put Objection”), setting forth in reasonable detail the basis for its dispute or objections and the specific
adjustments (including dollar amounts) to the Exercise Price that Walgreens believes should be made. Any components of the Exercise Price not disputed or objected to in a Put Objection by Walgreens shall be deemed to have been accepted by Walgreens
upon the expiration of the Put Review Period. If no Put Objection is delivered by Walgreens or if Walgreens notifies WCAS in writing that it has no such disputes or objections, in each case prior to the expiration of the Put Review Period, then the
applicable Put Exercise Price Notice shall be deemed to have been accepted by, and shall be final and binding upon, Walgreens, WCAS and the applicable Put Sellers. 

  
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 (d) WCAS, on behalf of the Call Sellers, and Walgreens shall, within twenty
(20) Business Days following delivery of a Call Objection to Walgreens (the “Call Resolution Period”), attempt in good faith to resolve their differences, and any resolution by them as to any disputed components of the
Exercise Price shall be final, binding and conclusive. Any matters not resolved during the Call Resolution Period shall be settled in accordance with the dispute resolution procedures set forth in Section 9.4. WCAS and
Walgreens shall, within twenty (20) Business Days following delivery of a Put Objection to WCAS (the “Put Resolution Period”), attempt in good faith to resolve their differences, and any resolution by them as to any
disputed components of the Exercise Price shall be final, binding and conclusive. Any matters not resolved during the Put Resolution Period shall be settled in accordance with the dispute resolution procedures set forth in
Section 9.4. 
 (e) Walgreens and the Sellers shall discuss in good faith potential revisions to
this Article 9 in the event of any circumstance described on Exhibit B. 
 Section 9.3.Closing. At the Closing of any
Put, Clean-Up Put or Special Put (a “Put Closing”), or the closing of any Call or Clean-Up Call (a “Call Closing”),
Walgreens or its Designated Affiliate shall pay the Exercise Price in accordance with this Section 9.3. At a Put Closing or a Call Closing, as applicable: (a) each Put Seller or Call Seller, as applicable, shall
transfer to Walgreens or its Designated Affiliate the applicable Put Units or Call Units, as applicable, free and clear of all liens (other than restrictions arising under securities laws) and shall execute such documents as are otherwise reasonably
necessary or appropriate, and (b) Walgreens or its Designated Affiliate shall deliver the Exercise Price (i) in the case of a Put Closing, to each Put Seller in cash or (ii) in the case of a Call Closing, to each Call Seller in cash.
A Put Closing or a Call Closing shall take place within ten (10) Business Days from the final determination of the applicable Exercise Price; provided that the following conditions precedent set forth in clauses (A), (B) and (C) shall each
be a condition precedent to each Put Closing and Call Closing: (A) all necessary consents or approvals from a governmental authority or regulatory body with respect to the applicable transaction shall have been obtained (it being understood and
agreed that the Members shall be obligated to comply with the obligations set forth in Section 5.05 of the Securities Purchase Agreement, dated as of September 17, 2021, by and among the equityholders of the Company listed on Schedules
A and B thereto, the equity holders of WCAS Blocker listed on Schedule C thereto, and, upon their joinder to such agreement pursuant to Section 1.03 thereof, the Health Systems Sellers (as defined therein)) to obtain any such required
consent or approval, (B) no injunction, judgment or ruling enacted, promulgated, issued, entered, amended or enforced by any governmental body shall be in effect enjoining, restraining, preventing or prohibiting consummation of the applicable
Put Closing or Call Closing, or making the consummation of the Put Closing or Call Closing illegal and (C) each Put Seller or Call Seller, as applicable, shall represent to Walgreens or its Designated Affiliate, as applicable, that it is the
owner of the Put Units or Call Units, as applicable, set forth in the applicable assignment document, and that such Put Units or Call Units, as applicable, are being transferred free and clear of any liens (other than restrictions arising under
securities laws). If, subject to the foregoing sentence, a Put Closing or a Call Closing, as applicable, does not occur within ten (10) Business Days of the final determination 

  
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of the applicable Exercise Price for any reason, any party failing to comply with its obligation to consummate such Put Closing or Call Closing pursuant to this
Section 9.3 shall be in material breach of its obligations hereunder. In addition to all other remedies available to the non-breaching party under this Agreement in law or in equity,
the parties hereto agree that the breaching party shall be subject to specific performance of its obligations hereunder (and the parties agree that money damages shall be an insufficient remedy for such breach and no party shall assert any contrary
defense). 
 Section 9.4.Dispute Resolution Procedures. If at the end of the Call Resolution Period or the Put Resolution Period, as
applicable, WCAS and Walgreens have been unable to resolve any differences that they may have with respect to the determination of the applicable Exercise Price, as specified in a Call Objection or Put Objection, as applicable, they shall refer all
such matters that remain in dispute (the “Unresolved Matters”) to a nationally recognized independent accounting firm jointly selected by them (the “Valuation Firm”), with WCAS acting on behalf of the
Put Sellers or Call Sellers, as the case may be. If WCAS and Walgreens are unable to agree upon the Valuation Firm, then each such party shall select a nationally recognized independent accounting firm, and those two firms will mutually agree on a
third nationally recognized independent accounting firm, and such firm will alone serve as the “Valuation Firm”. WCAS and Walgreens shall act in good faith to agree upon, as soon as reasonably practicable, the terms on which the Valuation
Firm shall act (and for these purposes acting in good faith shall include agreeing to any commercially reasonable terms proposed by the Valuation Firm (including without limitation its fees, costs and any limitations on its liability)). Following
agreement by WCAS and Walgreens on the relevant terms, WCAS and Walgreens shall each sign terms of engagement which reflect such terms as agreed by the Valuation Firm solely for the purpose of determining the Exercise Price (the “Terms of
Engagement”). If WCAS and Walgreens fail to agree on Terms of Engagement for the Valuation Firm within ten (10) Business Days after the end of the Call Resolution Period or Put Resolution Period, as applicable, WCAS and Walgreens
agree that each of them shall execute the standard form of the Valuation Firm’s terms of engagement as proposed by the Valuation Firm for its appointment. The Valuation Firm shall, acting as experts in valuation and not as arbitrators,
determine, on a basis consistent with the requirements of this Agreement, and only with respect to the unresolved matters so submitted, whether and to what extent the Call Exercise Price Notice or Put Exercise Price Notice, as applicable, requires
adjustment to the Exercise Price. WCAS and Walgreens shall instruct the Valuation Firm to (i) use its commercially reasonably efforts to render its final written determination within thirty (30) days after such firm’s engagement and
(ii) prepare a final calculation of the Exercise Price. With respect to each such unresolved matter, the Valuation Firm’s determination, if not in accordance with the position of either disputing party, shall not be in excess of the
higher, nor less than the lower, of the amounts advocated by the disputing parties with respect thereto. Except for the case of fraud or manifest error, the Valuation Firm’s final written determination shall be final, conclusive and binding
upon WCAS, the Put Sellers or Call Sellers, as applicable, and Walgreens. WCAS and Walgreens will share equally the fees and expenses of the Valuation Firm. 

  
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 Section 9.5. WCAS Exit. 

(a) As of the date the WCAS Group ceases to directly or indirectly own any Company Equity Securities (the “Final
Liquidity Date”), the Shields Holdings Group and Management Members shall designate a party to serve as a representative on behalf of the Sellers and holders of Vested Management Incentive Units (the “Shields
Designee”), and the references to “WCAS” in this Article IX shall be deemed to be references to the Shields Designee. 

(b) It is the intent of the parties hereto that as of the Final Liquidity Date, all Management Incentive Units granted on or
prior to the date hereof shall no longer be outstanding either because they were vested and sold in the WCAS exit transaction, or were unvested and canceled in accordance with the terms of the applicable agreements governing such Management
Incentive Units. Notwithstanding the foregoing, to the extent there are nevertheless any such Management Incentive Unit outstanding as of the Final Liquidity Date that is either (a) vested and not acquired on such date or (b) unvested and
not cancelled as of such date, Buyer may in its discretion purchase such Management Incentive Units pursuant to a Call or Clean-Up Call, as applicable. 

ARTICLE X. 
 MANAGEMENT
REPURCHASE 
 Section 10.1.Repurchase Option. 

(a) General. Upon the termination of any Management Member’s employment with the Company or any of its Subsidiaries
for any reason (including death, Disability or retirement) (a “Termination”), all Company Equity Securities (other than Unvested Management Incentive Units which will be cancelled in accordance with terms of the applicable
Common Unit Certificate), whether held by such Management Member or a Designated Affiliate thereof (collectively, the “Available Securities”), shall be subject to repurchase by the Company (or its designees) pursuant to the
terms and conditions set forth in this Section 10.1 (the “Repurchase Option”). For the avoidance of doubt and notwithstanding anything to the contrary herein, the repurchase rights set forth in this
Section 10.1 shall not apply to any Company Equity Securities held by Shields and Shields Holdings as of the date of this Agreement or any Equity Securities of Shields Holdings held by any of the Beneficial Owners. 

(b) Company Option. The Board, acting in good faith, may elect (in its sole discretion) to cause the Company to purchase
all or any portion of the Available Securities pursuant to the Repurchase Option by delivering written notice to such Management Member at any time following the Termination; provided, that if such Management Member is a member of the Board
at the time of such election, such Management Member shall not have the right to vote with respect to such Repurchase Option. Such notice shall set forth the number and amount of Available Securities to be acquired from each holder thereof, the
aggregate consideration to be paid for such securities and the time and place for the closing of such purchase. 

  
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 (c) Repurchase Price. (i) Upon exercise of the Repurchase Option
with respect to Vested Management Incentive Units, the purchase price for such Available Securities (the “Repurchase Price”) shall be paid in cash (subject to Section 10.2) as follows: 

(A) if the Repurchase Option is triggered by Termination of such Management Member’s employment (other than for Cause), the Repurchase
Price shall be the Fair Market Value of such Available Securities as of the date of Termination; and 
 (B) if the Repurchase Option is
triggered by a Termination for Cause, the Repurchase Price of such Available Securities held by such Management Member shall be one dollar ($1) in the aggregate for all such Available Securities. 

(ii) Upon exercise of the Repurchase Option with respect to Available Securities (other than Vested Management Incentive
Units), the Repurchase Price for such Available Securities shall be paid in cash (subject to Section 10.2) as follows: 

(A) if the Repurchase Option is triggered by Termination of such Management Member’s employment (other than for Cause), the Repurchase
Price shall be the Fair Market Value of such Available Securities as of the date of Termination; and 
 (B) if the Repurchase Option is
triggered by a Termination by for Cause, the Repurchase Price of such Available Securities held by such Management Member shall be to the lesser of the initial cost of such Available Securities and the Fair Market Value of such Available Securities
as of the date of Termination. 
 (d) Closing. The purchase of Available Securities pursuant to this Article X
shall be consummated at the Company’s principal office at 10:00 a.m., on the thirtieth (30th) day next following the date the Repurchase Option is delivered, or on such earlier day as designated by the Company, upon not less than ten
(10) days prior notice to the Management Member or other holder whose Available Securities are to be repurchased. If such date is not a Business Day, such purchase shall occur at the same time and place on the next succeeding Business Day. The
Company shall be entitled to receive customary representations and warranties as to ownership, title, authority to sell and the like from the holders thereof regarding such sale and to receive such other documentation and evidence as may reasonably
be necessary to effect the purchase of the Available Securities to be purchased pursuant to the Repurchase Option. 
 (e)
Failure to Deliver Available Securities. If such Management Member or any other holder whose Available Securities are to be purchased pursuant to this Section 10.1 fails to deliver such Available Securities on the
scheduled closing date of such purchase: (i) such Available Securities shall be deemed for all purposes (including the right to receive distributions) to have been transferred to the Company; (ii) to the extent that such Available
Securities are evidenced by certificates, such certificates shall be deemed canceled; (iii) the Company shall make an appropriate notation in its records to reflect the transfer of such Available Securities to the Company; and (iv) the
Person obligated to sell such Available Securities shall merely be a creditor with respect to such Available Securities with the right only to receive payment of the purchase price, without interest, from the Company. 

  
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 Section 10.2.Manner of Payment. Notwithstanding anything to the contrary contained
herein, to the extent the payment of all or any portion of a Repurchase Price in cash (or the dividend or distribution of necessary amounts to make such payment to the Company from a Subsidiary thereof) would violate the Act or other applicable law
or would be prohibited by any agreement governing the indebtedness of the Company or its Subsidiaries, the Company or a Subsidiary thereof may pay that portion of the Repurchase Price through the issuance of promissory notes. Such promissory notes
shall be unsecured and subordinated to the Company’s existing debt and bear interest per annum at the then applicable federal rate, and shall have a maturity date, which is (i) no later than five (5) years of the anniversary of the
issuance of such note or (ii) otherwise mutually agreed to between the Company and the applicable Management Member. The interest thereon shall be payable quarterly provided that if an instrument evidencing borrowed indebtedness of the Company
or a Subsidiary restricts the ability of the Company or such Subsidiary, directly or indirectly, to dividend funds to the Company to make any payment of interest or principal on such note then the Company shall not be required to make such payment
of interest or principal (including on the maturity date of such Note) until such dividend can be made without such restrictions. 

ARTICLE XI. 
 PREEMPTIVE
RIGHTS 
 Section 11.1.Grant of Preemptive Rights. The Company hereby grants to each Qualified Investor (including, for the
avoidance of doubt, the WCAS Group to the extent of their ownership of WCAS Blocker) the right to purchase its Proportionate Fully-Diluted Percentage of any Company Equity Securities to be issued in any future Eligible Issuance. 

Section 11.2.Notice of Eligible Issuance. 

(a) The Company shall, before issuing any Company Equity Securities in an Eligible Issuance, give written notice (the
“Offer Notice”) thereof to each Qualified Investor (the “Preemptive Offer”). The Offer Notice shall specify the number of Company Equity Securities the Company proposes to issue, the price per unit for
the Company Equity Securities and all other material terms and conditions of such proposed issuance known at the date of the Offer Notice. For a period of thirty (30) days following the date of the Offer Notice or such shorter period as
determined in good faith by the Board (taking into account, among other things, the timing of such Eligible Issuance) and disclosed in the Offer Notice (the “Preemptive Offer Period”), each Qualified Investor desiring to
participate (each, a “Participating Qualified Investor”) shall be entitled, by written notice to the Company, to elect to purchase all or any part of such Participating Qualified Investor’s Proportionate Fully-Diluted
Percentage of the Company Equity Securities being sold in the Eligible Issuance which notice shall also indicate the number of Company Equity Securities such Participating Qualified Investor elects to purchase; provided, that if two or more
securities shall be proposed to be sold as a “unit” in an Eligible Issuance, any such election must relate to such unit of securities. 

  
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 (b) The Company shall notify each Participating Qualified Investor as soon
as practicable following the expiration of the Preemptive Offer Period of the number of days each Participating Qualified Investor will have to deliver to the Company such Participating Qualified Investor’s executed copy of a customary
subscription agreement with respect to the purchase of such Company Equity Securities, together with a check payable to the order of the Company in the amount of the aggregate purchase price for such Company Equity Securities. 

(c) To the extent that elections pursuant to this Section 11.2 shall not be made with respect to any
Company Equity Securities included in an Eligible Issuance within such Preemptive Offer Period, then the Company may issue such remaining Company Equity Securities, but only for consideration not less than, and otherwise on terms no less favorable
to the Company than, those set forth in the Offer Notice and only within ninety (90) days after the end of the Preemptive Offer Period. 

(d) In the event that any such Preemptive Offer is accepted by one or more Participating Qualified Investors, the Company shall
sell to such Participating Qualified Investors, and such Participating Qualified Investors shall purchase from the Company, for the consideration and on the terms set forth in the Preemptive Offer, the securities that such Participating Qualified
Investors shall have elected to purchase and the Company may sell the balance, if any, of the Company Equity Securities it proposed to sell in such Eligible Issuance in accordance with Section 11.2(c). The Company may sell
all of the Company Equity Securities subject to a Preemptive Offer on the same date or in portions over multiple dates. 

(e) Notwithstanding anything to the contrary contained above, if the Board shall have determined that it is in the best
interests of the Company to proceed with an Eligible Issuance prior to providing the notices required by this Article XI or affording each of the Qualified Investors its preemptive rights in strict compliance with this Article XI, the
Company shall be permitted to first consummate such issuance and thereafter deliver such notices and afford the Qualified Investors an opportunity to exercise their preemptive rights hereunder so long as such notices are delivered and such
preemptive rights offer is conducted as soon as reasonably practicable thereafter and such offer is structured such that the rights of the Qualified Investors hereunder are not prejudiced in any material respect thereby. 

ARTICLE XII. 
 COVENANTS

 Section 12.1.Confidential Information. 

(a) No Member or Beneficial Owner shall use at any time any Confidential Information of which such Member or Beneficial Owner
is or becomes aware except in connection with its investment in the Company (except that Members who are directors, officers or employees of the Company or its Subsidiaries shall also be permitted to use such Confidential Information in connection
with the performance of their duties as directors, officers or employees). 

  
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 (b) Each Member and Beneficial Owner shall also keep the Confidential
Information strictly confidential and shall not disclose it or cause or permit its Agents (as defined below) to disclose it, except (i) as required by applicable law, regulation, rule, stock exchange requirement or required or requested by
legal process or in response to any inquiry from a governmental entity or regulatory authority having jurisdiction over such Member or Beneficial Owner, as the case may be, and only after compliance with Section 12.1(c) and
(ii) that it may disclose the Confidential Information or portions thereof to those of its officers, employees, directors, limited partners, advisors and other agents and directors (such Persons being referred to as
“Agents”) who need to know such information in connection with the investment by such Member in the Company; provided that such Agents (x) are informed of the confidential and proprietary nature of the
Confidential Information and (y) have agreed to maintain the confidentiality of the Confidential Information in a manner consistent with the provisions of this Article XII. Notwithstanding anything herein to the contrary, each such
Member and such Beneficial Owner and each Agent thereof may disclose to any and all Persons, without limitation of any kind, the tax treatment, tax structure or tax strategies of, and the tax strategies relating to, the Company and the transactions
entered into by the Company and all materials of any kind (including opinions and other tax analyses) that are provided to such Member, such Beneficial Owner or Agent relating to such tax treatment, tax structure, or tax strategies. 

(c) If any such Member, Beneficial Owner or Agent thereof becomes legally compelled (including by deposition, interrogatory,
request for documents, subpoena, civil investigative demand or similar process) to disclose any of the Confidential Information, such Member, Beneficial Owner or Agent thereof shall, in each case if legally permissible, provide the Company with
prompt and prior written notice of such requirement to disclose such Confidential Information. Upon receipt of such notice, the Company may seek a protective order or other appropriate remedy. If such protective order or other remedy is not
obtained, such Member, Beneficial Owner and its Agents shall disclose only that portion of the Confidential Information which is legally required to be disclosed (as determined in good faith by counsel to such Member or Beneficial Owner, as the case
may be) and shall take commercially reasonable steps to preserve the confidentiality of the Confidential Information. In addition, neither such Member, such Beneficial Owner nor its Agents shall oppose any action (and such Member, Beneficial Owner
and its Agents shall, if and to the extent reasonably requested by the Company and legally permissible to do so, reasonably cooperate with and assist the Company, at the Company’s expense, in any reasonable action) by the Company to obtain an
appropriate protective order or other reliable assurance that confidential treatment shall be accorded the Confidential Information. 

(d) Notwithstanding anything in this Article XII to the contrary, nothing in this Article XII shall prohibit or
limit in any way any Member from disclosing any Confidential Information (i) to prospective transferees of Units or (ii) in the case of a Member or Beneficial Owner that is a limited partnership, to its limited partners. 

Section 12.2.Restrictive Covenants. 

  
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 (a) During the period a Member or a Beneficial Owner or any of their
respective Designated Affiliates (each, a “Restricted Person”) directly or indirectly owns any Units and for a period of two (2) years thereafter, such Restricted Person shall, and shall cause its Affiliates (which in
the case of any member of (x) the WCAS Group shall only include WCAS XIII, L.P. and its portfolio companies and (y) the Walgreens Group shall only include the Walgreens Parent and its controlled Affiliates) not to, except with respect to
activities of the Company or any of its Subsidiaries, directly or indirectly, whether as owner, partner, investor, consultant, agent, employee, co-venturer or otherwise engage, or have any interest in any
business or Person that engages, anywhere in the United States, in (i) the development or management of a Person’s specialty pharmacy business and/or (ii) any business that is competitive with the Business of the Company or any its
Subsidiaries as such Business was (1) conducted prior to the date hereof or (2) planned, and substantial steps were taken by the Company or its Subsidiaries toward conducting such Business, in each case prior to the date hereof;
provided that this Section 12.2(a) shall be deemed not breached as a result of (1) the ownership by a Restricted Person of less than an aggregate of 2% of any class of stock of a Person engaged, directly or
indirectly, in the Business of the Company or any of its Subsidiaries as of the date hereof; provided, however, that such stock is listed on a national securities exchange, (2) in the case of UMass and its Affiliates,
(A) owning and operating hospital licensed pharmacies (retail and non-retail) located on the hospital campus of any UMass Affiliate, but precluding open or closed door specialty pharmacies except as
provided in the last sentence of this paragraph; (B) owning and operating non-hospital licensed pharmacies that (I) are not specialty pharmacies, (II) are located on site and incorporated into
the clinical operations of any UMass Affiliate and (III) exclusively serve patients of the UMass Affiliate; or (C) engaging in the activities listed on Exhibit A to the extent consistent with the past practice UMass or such applicable
Affiliate prior to the date of this Agreement or (3) in the case of Walgreens and the Walgreens Parent, (x) any activity that would otherwise be deemed to violate clause (i) above or (y) (A) any business conducted on the date of
this Agreement by the Walgreens Parent or any of its Affiliates or any joint venture arrangement to which the Walgreens Parent is a party or (B) any business that is contemplated or being developed or designed on the date of this Agreement by
the Walgreens Parent or its Affiliates or any such joint venture arrangement to which the Walgreens Parent is a party or (z) business activity that would otherwise violate this Section 12.2(a) that is acquired from any
Person (an “After-Acquired Business”) or is carried on by any Person that is acquired by or combined with Walgreens or any of its Affiliates in each case after the date of this Agreement (an “After-Acquired
Company”); provided, that with respect to clause (z), if the revenues derived from the portion such After-Acquired Business or After-Acquired Company that would otherwise violate this Section 12.2(a)
constitute greater than 35% of the gross revenues of such After-Acquired Business or After-Acquired Company for the fiscal year immediately preceding such acquisition, then, within twelve (12) months after the consummation of the purchase or
other acquisition of the After-Acquired Business or the After-Acquired Company, the Walgreens Parent shall sign a definitive agreement to dispose, and within twenty-four (24) months after the consummation of such purchase or other acquisition
the Walgreens Parent shall actually dispose (to an unrelated third party), of the relevant portion of the business or securities of the After-Acquired Business or the After-Acquired Company resulting in such excess gross revenues, unless, at the
expiration of such twenty-

  
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four (24) month period, such excess revenues are otherwise less than 35% of the gross revenues of such After-Acquired Business or After-Acquired Company. For the avoidance of doubt, nothing
in this Section 12.2(a) shall permit the Walgreens Parent, Walgreens or any other Member to use any Confidential Information other than as expressly permitted under Section 12.1. Notwithstanding
the foregoing, if any UMass Affiliate wishes to develop a specialty pharmacy (a “New Specialty Pharmacy”) or expand the UMass Memorial Medical Center specialty pharmacy located on its University Campus (“Medical
Center Specialty Pharmacy”) the parties agree that, with respect to the New Specialty Pharmacy or expanded Medical Center Specialty Pharmacy, and except as otherwise mutually agreed, the Company through its Affiliates will provide the
same or substantially similar comprehensive management and operations services under the same or substantially similar terms and conditions as set forth in the Management Services Agreement dated March 27, 2019 (and as amended from time to
time) between UMass Memorial Shields Pharmacy, LLC and UMass Memorial Medical Center, Inc. 
 (b) During the period a
Restricted Person directly or indirectly owns any Units and for a period of two (2) years thereafter, such Restricted Person shall, and shall cause its Affiliates (which in the case of any member of (x) the WCAS Group shall only include
WCAS XIII, L.P. and its portfolio companies and (y) the Walgreens Group shall only include the Walgreens Parent and its controlled Affiliates) not to, directly or indirectly, hire or solicit for hiring any person that is or was an employee of
the Company or its Subsidiaries or seek to persuade any employee of the Company or its Subsidiaries to discontinue employment; provided that nothing in this Section 12.2(b) shall prohibit (a) a Restricted Person
or any of its Affiliates from soliciting any such employee as a result of a general solicitation to the public or general advertisements, including in trade media or engagement of general search firms for employment not directed at employees of the
Company or its Subsidiaries, (b) UMass or its Affiliates from hiring any such employee (other than a member of senior management) as a result of a general solicitation to the public or general advertisements, including in trade media or
engagement of general search firms for employment not directed at employees of the Company or its Subsidiaries or (c) Jack Shields or any of his Affiliates from soliciting and/or hiring Robert M. Greenglass. 

ARTICLE XIII. 
 REPORTS
TO MEMBERS; TAX AND ERISA MATTERS 
 Section 13.1.Books of Account. Appropriate books of account shall be kept by the Board, in
accordance with GAAP, at the principal place of business of the Company or a Subsidiary thereof, and each Member shall have access to all books, records and accounts of the Company as is required under the Act, in each case, under such conditions
and restrictions as the Board may reasonably prescribe. 
 Section 13.2.Reports. 

(a) Tax Reporting. As promptly as practicable after the close of each fiscal year of the Company, the Company shall
furnish to each Member all Company information necessary to enable each Member to prepare its federal, state, and local income tax returns, which information shall include a Schedule K-1. The Company shall use
commercially reasonable efforts to furnish such information within seventy-five days after the end of the Company’s taxable year. 

  
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 (b) Determinations. All determinations, valuations and other matters
of judgment required to be made for accounting purposes under this Agreement shall be made by the Board acting in good faith and, if so made, shall be conclusive and binding on all Members and any other Person, and to the fullest extent permitted by
law, no such Person shall have the right to an accounting or an appraisal of the assets of the Company or any successor thereto. 

Section 13.3.Fiscal Year. The fiscal year of the Company shall be its taxable year, which (i) with respect to 2021, shall end at the
close of business on December 31 of such calendar year, and (ii) with respect to 2022 and thereafter, shall end at the close of business on August 31 of each calendar year, in each case unless otherwise determined by the Board in
accordance with Section 706 of the Code. 
 Section 13.4.Certain Tax Matters. 

(a) Preparation of Returns. The Board shall cause to be prepared and filed all federal, state and local tax returns of
the Company for each year for which such returns are required to be filed. The Board shall determine the appropriate treatment of each item of Company income, gain, loss, deduction and credit and the accounting methods and conventions to be used by
the Company under the tax laws of the United States, the several states and other relevant jurisdictions. 
 (b) Certain
Filings. Upon the sale of Company assets or a liquidation of the Company, the Members shall provide the Board with certain tax filings as reasonably requested by the Board and required under applicable law. 

Section 13.5.Partnership Representative. 

(a) Walgreens will act as the Partnership Representative unless otherwise removed by the Board. The Partnership Representative,
on behalf of the Company and its Members will be permitted to settle disputes with the Internal Revenue Service, extend the statute of limitations for any taxes, and take any other action, including making any election or filing under the Code, the
regulations promulgated thereunder, or any other law or regulations that it in good faith believes to be in the best interests of the Company or the Members and shall have all other powers needed to fully perform hereunder including the power to
retain all attorneys and accountants of its choice and to file for administrative adjustments pursuant to Section 6227 of the Code, provided, however, that the Partnership Representative shall remain subject to the direction of the Board
in all respects to the extent permitted by applicable law. The Partnership Representative shall promptly advise the Board of any tax proceedings with respect to the Company and keep the Board reasonably informed of any material developments of any
such proceedings. If the Company makes an election pursuant to Section 6226 of the Code with respect to an imputed underpayment, each Member shall comply with the corresponding requirements under the Budget Act. Each Member shall cooperate with
the Partnership Representative to give effect to the requirements of and elections made by the Company pursuant to or as contemplated by the Budget Act. 

  
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 (b) The Company shall indemnify and hold harmless the Partnership
Representative and its directors, officers, employees and agents from and against any loss, expense, damage or injury suffered or sustained by them by reason of any acts, omissions or alleged acts or omissions arising out of their activities on
behalf of the Company as Partnership Representative, absent the gross negligence, willful misconduct or taking of action in bad faith of the Partnership Representative. 

(c) The Partnership Representative shall use commercially reasonable efforts, to either (i) reduce any imputed
underpayment by modifications permitted under Section 6225(c) of the Code or Treasury Regulations promulgated thereunder or other relevant Treasury or IRS guidance, taking into account the tax status of UMass or (ii) make an election under
Section 6226(a) of the Code. To the extent that the imputed underpayment is mitigated by modifications permitted under Section 6225(c) of the Code or Treasury Regulations promulgated thereunder, or other relevant Treasury or IRS guidance
and such modifications relate to the status of UMass, the Partnership Representative shall use commercially reasonable efforts to allocate to UMass the benefit of any such reduction or modification of the required payment of the imputed underpayment
attributable to the tax-exempt status of UMass. 
 (d) The foregoing covenants and
indemnification obligation of the Members shall survive indefinitely and shall not terminate, without regard to any transfer of a Member’s Units, withdrawal as a Member, or liquidation, dissolution or termination of the Company. 

Section 13.6.Section 754 Election. Each of the Company and its Subsidiaries that are classified as partnerships for U.S. federal
income tax purposes will have in effect for the tax year that includes the date hereof an election pursuant to Section 754 of the Code. 

ARTICLE XIV. 
 CONVERSION
TO CORPORATION 
 Section 14.1.Conversion to C Corporation. Subject to Sections 14.2 and 14.3, the Members
acknowledge that the Board may, in furtherance of an initial Public Offering (including as part of a transaction between the Company and a Person that is required to be registered under the Securities Act pursuant to which the Members will receive
as consideration any equity securities of such other Person or any of its Subsidiaries (or the right to convert any Units into any equity securities of such other Person or any of its Subsidiaries), based upon tax, market and such other conditions
as the Board shall deem appropriate at the time, (i) cause the Company to convert into a corporate form or otherwise undergo a recapitalization effected by means of a merger or otherwise, to the extent practicable, in a tax-free manner; (ii) require or effect a Transfer of all of the Units, or assets of the Company, to a corporation to be formed for the purpose of conducting the business of the Company, and in connection with
such Transfer cause all the Units of the Company to be converted into or exchanged for shares of capital stock of such corporation and, if necessary or advisable, to cause the Company to dissolve; and/or (iii) create an “UPCO”
structure 

  
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by causing the formation of an UPCO, (A) having UPCO use some or all of the proceeds of an initial Public Offering to purchase some or all Units and/or (B) causing some or all of the
outstanding Units to be convertible into, or exchangeable for, common stock of UPCO. Prior to effecting any of the foregoing transactions, the Board shall consult with the Investors regarding their tax and structuring considerations relating to any
such transactions and shall use reasonable efforts acting in good faith to address such tax and structuring considerations in effecting any such transaction (to the extent that such considerations are consistent with Sections 14.2 and
14.3). By accepting its Units in the Company, each Member hereby consents to, and agrees to cooperate fully with, any such actions and/or decisions by the Board made in accordance with this Section 14.1. Without
limiting the generality of the foregoing, but subject to the preceding provisions of this Section 14.1, each Member hereby agrees to take all actions that the Board reasonably deems necessary or desirable in connection with
the foregoing, including executing any necessary or appropriate documents or forms, consenting to amendments to this Agreement to implement the foregoing and converting or exchanging its Units into shares of stock, other classes of Units or other
property. 
 Section 14.2.Blocker Corporations. If, in connection with a transaction contemplated in
Section 14.1, the Company, a successor to the Company or the UPCO (the “IPOCo”) is classified as a corporation for U.S. federal income tax purposes, any Member (or any direct or indirect owner of a Member)
that is classified as a U.S. corporation for U.S. federal income tax purposes where such Member and, if applicable, its owner, does not own or have directly or indirectly any material assets other than the Units and no material liabilities other
than liabilities that relate to the Units (each a “Blocker Corporation”) will be entitled to merge with IPOCo or an affiliate thereof or engage in similar transactions pursuant to which the interest holders of each such
Blocker Corporation exchange their respective interests of the applicable Blocker Corporation for shares of IPOCo (each a “Blocker Corporation Merger”) in a manner intended to be
tax-free to the interests holders of the applicable Blocker Corporation, IPOCo and its affiliates (including the applicable Blocker Corporation). Each Member shall be permitted to implement any internal
restructuring of any affiliated Blocker Corporations and special purpose vehicles so that any Blocker Corporation becomes a direct owner of Units and to facilitate the sale described in this Section 14.2. 

Section 14.3.Tax Receivables Agreement. In connection with an initial Public Offering in an “UPCO” structure described in
Section 14.1, unless otherwise directed by the Board, (a) IPOCo and the applicable Members will enter into a tax receivables agreement (a “TRA”) pursuant to which IPOCo will agree to pay the
Investors that are Members immediately prior to any transaction taken in contemplation of the initial Public Offering (the “Participating Members”) in proportion to their ownership of the Company at that time a percentage of
IPOCo’s cash tax savings resulting from IPOCo’s utilization of a Code Section 743(b) basis adjustment arising from exchanges by the Participating Members, in whatever form (and at whatever time), of Units for IPOCo shares or cash (the
“Participating Members’ Basis Step-up”) and (b) IPOCo will agree pursuant to the TRA to pay WCAS and Walgreens (or their respective designees) the
same percentage of IPOCo’s cash tax savings resulting from IPOCo’s utilization of (i) the remaining Code Section 743(b) basis adjustment that arose from WCAS or Walgreen’s (as the case may be) direct or indirect purchase of
Units (the “Basis Step-up”) and (ii) pre-existing net operating losses and tax credits, if any, generated by the Blocker Corporations
attributable to such Member prior to a Blocker Corporation Merger and attributable to their ownership of Units; it 

  
 -58- 

 
being understood that after a Blocker Corporation Merger of WCAS into IPOCo, any amounts that become payable to WCAS (or its designee) under this Section 14.3(b) will be
paid to the owners of WCAS or as additional consideration in the Blocker Corporation Merger. For the avoidance of doubt, it is also understood and agreed that if such TRA should include provisions more favorable to the Participating Members than
contemplated above (for example, giving the Participating Members “dollar one” benefit from historical basis adjustments or giving Participating Members the benefit of any previous step-up), such
principles should also extend to WCAS and Walgreens in an equitable manner. In determining IPOCo’s payment obligations pursuant to the TRA relating to a tax year of IPOCo (a “Tax Year”), cash tax savings of IPOCo (and
related TRA payments) in the Tax Year will first be determined using a customary “with and without” methodology prior to giving effect to any net operating loss carryforwards or carrybacks to such Tax Year and, if the payments pursuant to
the TRA are limited in the Tax Year (before giving effect to any payments that would be made with respect to the utilization of net operating loss carryforwards and carrybacks to such Tax Year) because IPOCo does not have sufficient taxable income
in the Tax Year, then such payments shall be allocable to each Participating Members, WCAS and Walgreens in proportion to the respective TRA payments that would have been made to each of them if IPOCo had in fact sufficient taxable income so that
there had been no such limitation and, for the avoidance of doubt, without regard to the year of origination of the Participating Members’ Basis Step-up, Walgreens’ Basis Step-up and WCAS’ Basis Step-up. 
 Section 14.4.IPO
Initiation. 
 (a) At any time on or after August 19, 2022, Walgreens may, without the consent of the Company or any
other Member, cause the Company to initiate an IPO in accordance with this Article XIV. Walgreens may determine that such IPO include a secondary public offering of Equity Securities, in which case Section 2(e) of the Registration Rights
Agreement dated as of the date hereof among the Company, the Investors and the other parties thereto shall apply to such IPO. 

(b) In order to exercise its rights under Section 14.4(a), Walgreens may deliver to the Board a
notice (an “IPO Election Notice”) requesting the Company to consummate an IPO, in which case, the Company and each other Member shall use commercially reasonable efforts to each promptly take, and cause each of its
Subsidiaries, officers, directors, employees, agents and representatives to promptly take, all such actions and cause to be done all such things within its control as may be reasonably requested by Walgreens in connection with any such IPO or
otherwise in connection with the exercise of the IPO Right (as defined below). Such actions shall include, in each case as reasonably requested by Walgreens or its representatives, (i) causing the Company or the IPOCo to promptly engage such
financial advisors, accountants, legal advisors and other non-legal advisors as may be determined by Walgreens (and the Members shall waive, and cause their Affiliates to waive, any conflicts of interest
resulting from the engagement of such Persons by the Company or the IPOCo), (ii) taking the actions described in Sections 14.1, 14.2, and 14.3, (iii) amending, modifying, repealing or restating the governing, constituent or
organizational documents of the Company and/or its Subsidiaries, (iv) participating in and otherwise facilitating any due diligence process, (v) preparing, commenting on, revising or modifying the registration statement, prospectus,
investor and/or rating agency materials, SEC correspondence and any other necessary documentation, including any 

  
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amendments to any of the foregoing, in each case, as may be reasonably requested by Walgreens, (vi) implementing all necessary corporate governance procedures and policies, including those
related to whistleblowers, affiliate transactions, insider trading, Regulation FD, any listing or FINRA code of business conduct or ethics, (vii) appointing qualified independent directors as requested by Walgreens, (viii) engaging a
“big four” accounting firm and (ix) participating in rating agency meetings, road shows and any other investor presentations. Without limiting the foregoing, following the delivery of an IPO Election Notice, the Company and the other
Members shall use reasonable best efforts to effect an IPO on such terms and conditions as may be requested by Walgreens so long as one or more investment banks or underwriters selected by Walgreens are prepared to underwrite such IPO (such right,
the “IPO Right”). The Company shall keep Walgreens regularly apprised of the status of effecting such a transaction, and shall consult with Walgreens prior to making any material decisions relating thereto. 

(c) Notwithstanding anything else in this Section 14.4 ,Walgreens may, without prejudice to its right
to deliver additional IPO Election Notices at future dates, notify the Company that it withdraws and/or revokes its request that the Company effect an IPO, in which case, the Company or the applicable IPOCo shall immediately withdraw any
registration statement on Form S-1 (or successor or similar form of the applicable jurisdiction) that has been filed to effect an IPO pursuant to an IPO Right and shall cease any further actions or efforts in
respect of such IPO. 
 Section 14.5.Further Assurances. Subject to Section 15.9, in connection with a
Conversion effected by the Board in accordance with this Article XIV, each Member shall take any and all such action and execute and deliver any and all such instruments and other documents as the Board may reasonably request in order to
effect or evidence such Conversion, including a stockholders agreement containing, to the extent then applicable, substantially the same terms as set forth in this Agreement. Without limiting the generality of the foregoing, no Member shall have or
be entitled to exercise any dissenters rights, appraisal rights or other similar rights in connection with such Conversion. 
 ARTICLE XV.

 MISCELLANEOUS 

Section 15.1.Governing Law. THIS AGREEMENT IS GOVERNED BY AND SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAW OF THE STATE OF DELAWARE,
EXCLUDING ANY CONFLICT OF LAWS RULE OR PRINCIPLE THAT MIGHT REFER THE GOVERNANCE OR THE CONSTRUCTION OF THIS AGREEMENT TO THE LAW OF ANOTHER JURISDICTION. In the event of a direct conflict between the provisions of this Agreement and any provision
of the Certificate or any mandatory provision of the Act, the applicable provision of the Certificate or the Act shall control. If any provision of this Agreement or the application thereof to any Person or circumstance is held invalid or
unenforceable to any extent, the remainder of this Agreement and the application of that provision to other Persons or circumstances is not affected thereby and that provision shall be enforced to the greatest extent permitted by law. 

  
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 Section 15.2.Successors and Assigns. This Agreement shall be binding upon and shall
inure to the benefit of the parties hereto and their respective successors; provided that no Person claiming by, through or under a Member, as distinct from such Member itself, shall have any rights as, or in respect to, a Member (including
the right to approve or vote on any matter or to notice thereof). Notwithstanding anything in this Agreement to the contrary, subject to compliance with the terms of this Agreement, each Member shall have the right to assign its interests hereunder
in whole or in part to any transferee of the Company Equity Securities held by such Member in compliance with this Agreement. Notwithstanding anything herein to the contrary, a Member shall not be entitled to transfer any of its rights under
Section 3.2 or 4.2, in each case other than to a Designated Affiliate. 
 Section 15.3.Amendments and
Waivers. The Board may, by resolution or other action of the Board, amend, amend and restate, modify, waive the application of (either generally or in a particular instance, either retroactively or prospectively, and either for a specified period of
time or indefinitely) or supplement the terms and provisions of this Agreement or the Certificate, in any such case, without the consent of or any action by any of the Members or Members, including, without limitation, in connection with the
creation and/or issuance of any additional Units in accordance with Section 2.9 hereof; provided, that no provision of this Agreement may be modified or amended in a manner adverse to any Investor if such modification or
amendment adversely affects such Investor disproportionately relative to the other Investors except with the written consent of such Investors; provided, further, that modifications regarding consent rights, information rights, rights with respect
to a Sale Transaction, preemptive rights pursuant to Article XI, a Member’s right to appoint the number of Managers to the Board pursuant to Section 3.2, the put/call rights in Article IX or the provision
that provides that no Member is required to make capital contributions (and in each case, all relevant definitions set forth in Article I) each shall be deemed to disproportionately affect each Investor so as to require written consent. For
the avoidance of doubt, and notwithstanding anything to the contrary above the authorization and issuance of additional Units, whether of a new or existing class, subclass or series of Units, at the direction of the Board pursuant to
Section 2.9 as consideration in any acquisition by the Company or a Subsidiary thereof or in connection with any equity investment in the Company, whether such additional Units are junior, senior or pari passu with
one or more classes, subclasses or series of existing Units, and the amendment of this Agreement and Schedules A and B hereto to reflect the terms and relative rights, preferences or privileges of such additional Units, shall not
require the approval of any Member, even if the issuance of such additional Units would have a dilutive effect on the economic, governance, voting or other rights of one or more classes or series of Units. Each Member shall be bound by any
amendment, amendment and restatement, modification, waiver, or supplement to the terms and provisions of this Agreement effected in accordance with this Section 15.3, whether or not such Member has consented thereto. 

Section 15.4.Notices. Whenever notice is required or permitted by this Agreement to be given, such notice shall be in writing and shall
be given to any Member at its address or facsimile number shown in the Company’s books and records, or, if given to the Company, at the following address: 

100 Technology Center Dr.

Stoughton, MA 02072 
 Attention:
Chief Executive Officer 

  
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 Each proper notice shall be effective upon any of the following: (i) personal delivery or e-mail to the recipient, (ii) one Business Day after being sent by facsimile to the recipient (with hard copy sent to the recipient by reputable overnight courier service that same day or the next Business Day
(charges prepaid)), (iii) one Business Day after being sent to the recipient by reputable overnight courier service (charges prepaid) or (iv) five business days after being deposited in the mails (first class or airmail postage prepaid). 

Section 15.5.Counterparts. This Agreement may be executed in any number of counterparts (including by means of signature pages sent by
facsimile or other electronic means), all of which together shall constitute a single instrument. 
 Section 15.6.Entire Agreement.
This Agreement and the other documents and agreements referred to herein or entered into concurrently herewith embody the entire agreement and understanding of the parties hereto in respect of the subject matter contained herein. There are no
restrictions, promises, representations, warranties, covenants or undertakings, other than those expressly set forth or referred to herein and therein. This Agreement and such other documents and agreements supersede all prior (but not
contemporaneous) agreements and understandings between the parties with respect to such subject matter. 
 Section 15.7.Jurisdiction.
Except as expressly provided below, any suit, action or proceeding under or with respect to this Agreement, or any judgment entered by any court in respect of any thereof, shall be brought in any court of competent jurisdiction in the State of
Delaware and each of the Company and the Members hereby submits to the exclusive jurisdiction of such courts for the purpose of any such suit, action, proceeding or judgment. Each of the Company and the Members hereby irrevocably waives any
objections which it may now or hereafter have to the laying of the venue of any suit, action or proceeding arising out of or relating to this Agreement brought in any court of competent jurisdiction in the State of Delaware, and hereby further
irrevocably waives any claim that any such suit, action or proceeding brought in any such court has been brought in any inconvenient forum. 

Section 15.8.Section Titles. Section titles and headings are for descriptive purposes only and shall not control or alter the meaning of
this Agreement as set forth in the text hereof. 
 Section 15.9.Termination of Certain Provisions. In the event that the Company is
converted to a corporation pursuant to Article XIV hereof, the provisions of this Agreement shall terminate upon consummation of such Qualified Public Offering (other than Article XII and as contemplated by
Section 14.1). 
 Section 15.10.Intended Third Party Beneficiaries. Each Indemnitee that is not a direct
party hereunder for purposes of Section 3.8 of this Agreement is and shall be considered an express third-party beneficiary for purposes of Section 3.8 of this Agreement and shall be entitled to
enforce this Agreement to the same extent as a party hereunder. 
 [remainder of page intentionally left blank] 

  
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 IN WITNESS WHEREOF, the parties have executed this Amended and Restated Limited Liability
Company Agreement as of the day and year first above written. 
  

							
	THE COMPANY:	 		 	Shields Health Solutions Parent, LLC
				
		 		 	By:	 	 
		 		 		 	Name:
		 		 		 	Title:

  
 [Signature Page to Second
Amended and Restated Limited Liability Company Agreement] 

 MEMBERS:Exhibit 10.1

 

NEITHER
THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE CONVERTIBLE
HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED
FOR SALE, SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES
ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL (WHICH COUNSEL SHALL BE SELECTED BY THE HOLDER), IN A GENERALLY ACCEPTABLE FORM,
THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT. NOTWITHSTANDING THE FOREGOING, THE SECURITIES
MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING
ARRANGEMENT SECURED BY THE SECURITIES.

 

	Principal Amount: $38,750.00	Issue Date: April 22, 2021
	Purchase Price: $38,750.00	 

 

CONVERTIBLE
PROMISSORY NOTE

 

FOR
VALUE RECEIVED, Eco Innovation Group, Inc., a Nevada
corporation (hereinafter called the "Borrower"), hereby promises to pay to the order of GENEVA ROTH REMARK HOLDINGS, INC.,
a New York corporation, or registered assigns (the "Holder") the sum of $38,750.00
together with any interest as set forth herein, on April 22, 2022 (the "Maturity Date"), and to pay interest on the unpaid principal
balance hereof at the rate of ten percent (10%)(the "Interest Rate") per annum from the date hereof (the "Issue Date")
until the same becomes due and payable, whether at maturity or upon acceleration or by prepayment or otherwise.
This Note may not be prepaid in whole or in part except as otherwise explicitly set forth herein.
Any amount of principal or interest on this Note which is not paid when due shall bear interest at the rate of twenty two percent (22%)
per annum from the due date thereof until the same is paid ("Default Interest"). Interest shall commence accruing on the date
that the Note is fully paid and shall be computed on the basis of a 365-day year and the actual number of days elapsed. All payments due
hereunder (to the extent not converted into Common stock, $0.001
par value per share (the "Common Stock") in accordance with the terms hereof) shall be made in lawful money of the United States
of America. All payments shall be made at such address as the
Holder shall hereafter give to the Borrower by written notice made in accordance with the provisions of this Note.
Each capitalized term used herein, and not otherwise defined, shall have the meaning ascribed thereto in
that certain Securities Purchase Agreement dated the date hereof, pursuant to which this Note was originally issued (the "Purchase
Agreement").

 

This
Note is free from all taxes, liens,
claims and encumbrances with respect to the issue thereof and shall not be subject to preemptive rights
or other similar rights of shareholders of the Borrower and will not impose personal liability upon the holder thereof.

 

The following terms shall apply to this Note:

 

ARTICLE
I.

CONVERSION RIGHTS

 

1.1    Conversion
Right. The Holder shall
have the right from time to time, and
at any time during the period beginning on the date which is one hundred eighty (180) days following the date of this Note and ending
on the later of: (i) the Maturity Date and (ii) the date of payment of the Default Amount (as defined
in Article Ill), each
in respect of the remaining outstanding amount of this Note, to

 

    	  

    	 

    

convert
all or any part of the outstanding and unpaid amount of this Note into fully paid and non assessable shares of Common Stock, as such Common
Stock exists on the Issue Date, or any shares of capital stock or other securities of the Borrower into which such Common Stock shall
hereafter be changed or reclassified at the conversion price (the "Conversion Price")
determined as provided herein (a "Conversion"); provided, however, that in no event shall the Holder be entitled
to convert any portion of this Note in excess of that portion of this Note upon conversion of which the sum of (1) the number of shares
of Common Stock beneficially owned by the Holder and its affiliates (other than shares of Common Stock which may be deemed beneficially
owned through the ownership of the unconverted portion of the Notes or the unexercised or unconverted portion of any other security of
the Borrower subject to a limitation on conversion or exercise analogous to the limitations contained herein) and (2) the number of shares
of Common Stock issuable upon the conversion of the portion of this Note with respect to which the
determination of this proviso is being made, would result in beneficial ownership by the Holder and its affiliates of more than
4.99% of the outstanding shares of Common Stock. For purposes of the proviso to the immediately preceding sentence, beneficial ownership
shall be determined in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"),
and Regulations 13D-G thereunder, except as otherwise provided in clause (1) of such proviso. The beneficial ownership limitations
on conversion as set forth in the section may NOT be waived by the Holder. The number of shares of Common Stock to be issued upon
each conversion of this Note shall be determined by dividing the Conversion Amount (as defined below) by the applicable Conversion Price
then in effect on the date specified in the notice of conversion, in the form attached hereto as Exhibit A (the "Notice of Conversion"),
delivered to the Borrower by the Holder in accordance with Section 1.4 below; provided that the Notice of Conversion is submitted by facsimile
or e-mail (or by other means resulting in, or reasonably expected to result in, notice) to the Borrower before 6:00 p.m.,
New York, New York time on such conversion date (the "Conversion Date"); however, if the Notice of Conversion is sent after
6:00pm, New York, New York time the Conversion Date shall be the next business day. The term "Conversion Amount" means, with
respect to any conversion of this Note, the sum of (1) the principal amount of this Note to be converted in such conversion (2) at the
Holder's option, accrued and unpaid interest, if any, on such principal amount at the interest rates
provided in this Note to the Conversion Date, (3) at the Holder's option, Default Interest,
if any, on the amounts referred to in the immediately preceding clauses (1) and/or (2)

(4) at the Holder's
option, any amounts owed to the Holder pursuant to Sections 1.4 hereof.

 

1.2   
Conversion Price.
The Conversion Price shall be equal to the Variable Conversion Price (as defined herein)(subject
to equitable adjustments for stock splits, stock dividends or rights offerings by the Borrower relating to the Borrower's securities or
the securities of any subsidiary of the Borrower, combinations, recapitalization, reclassifications, extraordinary distributions and similar
events). The "Variable
Conversion Price" shall mean 61% multiplied by the Market Price (as defined herein) (representing a discount rate of 39%).
"Market Price" means
the lowest Trading Price (as defined below) for the Common Stock during the twenty (20) Trading Day period ending on the latest complete
Trading Day prior to the Conversion Date. "Trading
Price" means, for any security as of any date, the closing bid price on the OTCQB, OTCQX, Pink Sheets electronic quotation system
or applicable trading market (the "OTC") as
reported by a reliable reporting service ("Reporting Service") designated by the Holder (i.e.
Bloomberg) or, if the OTC is not the principal trading market for such security,
the closing bid price of such security on the principal securities exchange or trading market where such security is listed or traded
or, if no closing bid price of such security is available in any of the foregoing manners, the average of the closing bid prices of any
market makers for such security that are listed in the "pink sheets".
If the Trading Price cannot be calculated for such security on such date in the manner provided
above, the Trading Price shall be the fair market value as mutually determined by the Borrower and the holders of a majority in interest
of the Notes being converted for which the calculation of the Trading Price is required in order to determine the Conversion Price of
such Notes. "Trading Day" shall mean any day on which the

 

 

    	  

    	 

    

Common
Stock is tradable for any period on the OTC, or on the principal securities exchange or other securities market on which the Common Stock
is then being traded.

 

1.3   
Authorized Shares.
The Borrower covenants that during the period the conversion right exists, the Borrower
will reserve from its authorized and unissued Common Stock a sufficient number of shares, free from preemptive rights, to provide for
the issuance of Common Stock upon the full conversion of this Note issued pursuant to the Purchase Agreement. The Borrower is required
at all times to have authorized and reserved eight times the number of shares that would be issuable upon full conversion of the Note
(assuming that the 4.99% limitation set forth in Section 1.1 is not in effect)(based on the respective Conversion Price of the Note (as
defined in Section 1.2) in effect from time to time, initially 7,818,411 shares)(the "Reserved Amount"). The Reserved Amount
shall be increased (or decreased with the written consent of the Holder) from time to time in accordance with the Borrower's obligations
hereunder. The Borrower represents that upon issuance, such shares will be duly and validly issued, fully paid and non-assessable. In
addition, if the Borrower shall issue any securities or make any change to its capital structure which would change the number of shares
of Common Stock into which the Notes shall be convertible at the then current Conversion Price, the Borrower shall at the same time make
proper provision so that thereafter there shall be a sufficient number of shares of Common Stock authorized and reserved, free from preemptive
rights, for conversion of the outstanding Note. The Borrower (i) acknowledges that it has irrevocably instructed its transfer agent to
issue certificates for the Common Stock issuable upon conversion of this Note, and (ii) agrees that its issuance of this Note shall constitute
full authority to its officers and agents who are charged with the duty of executing stock certificates to execute and issue the necessary
certificates for shares of Common Stock in accordance with the terms and conditions of this Note.

 

If, at any time the
Borrower does not maintain the Reserved Amount it will be considered an Event of Default under Section 3.2 of the Note.

 

		1.4	Method of Conversion.

 

(a)   
Mechanics of Conversion. As set forth in Section 1.1 hereof, from time to
time, and at any time during the period beginning on the date which is one hundred eighty (180) days following the date of this Note and
ending on the later of:(i) the
Maturity Date and (ii) the date of payment of the Default Amount, this Note may be converted by the Holder in whole or in part at any
time from time to time after the Issue Date, by (A) submitting to the Borrower a Notice of Conversion (by facsimile, e-mail or other reasonable
means of communication dispatched on the Conversion Date prior to 6:00
p.m., New York, New York time) and (B) subject to Section 1.4(b), surrendering this Note at the principal office of the Borrower (upon
payment in full of any amounts owed hereunder).

 

(b)   
Surrender of Note Upon Conversion.
Notwithstanding anything to the contrary set
forth herein, upon conversion of this Note in accordance with the terms hereof, the Holder shall not be required to physically
surrender this Note to the Borrower unless the entire unpaid principal amount of this Note is so converted.
The Holder and the Borrower shall maintain records showing the principal amount so
converted and the dates of such conversions or shall use such other method, reasonably satisfactory to the Holder and the Borrower,
so as not to require physical surrender of this Note upon each such conversion.

 

(c)  
Delivery of Common Stock Upon Conversion. Upon receipt by the Borrower from the Holder of
a facsimile transmission or e-mail (or other reasonable means of communication) of a Notice of Conversion meeting the requirements for
conversion as provided in this

 

    	  

    	 

    

Section
1.4, the Borrower shall issue and deliver or cause to be issued and delivered to or upon the order of the Holder certificates for the
Common Stock issuable upon such conversion within three (3) business days after such receipt (the "Deadline")
(and, solely in the case of conversion of the entire unpaid principal amount hereof, surrender of
this Note) in accordance with the terms hereof and the Purchase Agreement. Upon
receipt by the Borrower of a Notice of Conversion, the Holder shall be deemed to be the holder of record of the Common Stock issuable
upon such conversion, the outstanding principal amount and the amount of accrued and unpaid interest on this Note shall be reduced to
reflect such conversion, and, unless the Borrower defaults on its obligations hereunder, all rights with respect to the portion of this
Note being so converted shall forthwith terminate except the right to receive the Common Stock or other securities, cash or other assets,
as herein provided, on such conversion. If the Holder shall have given a Notice of Conversion as provided herein, the Borrower's obligation
to issue and deliver the certificates for Common Stock shall be absolute and unconditional, irrespective of the absence of any action
by the Holder to enforce the same, any waiver or consent with respect to any provision thereof, the recovery of any judgment against any
person or any action to enforce the same, any failure or delay in the enforcement of any other obligation of the Borrower to the holder
of record, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Holder of any obligation
to the Borrower, and irrespective of any other circumstance which might otherwise limit such obligation of the Borrower to the Holder
in connection with such conversion.

 

(d)   Delivery
of Common Stock by Electronic Transfer. In lieu of delivering physical certificates representing the Common Stock issuable upon conversion,
provided the Borrower is participating in the Depository Trust Company ("OTC") Fast Automated Securities Transfer ("FAST")
program, upon request of the Holder and its compliance with the provisions set forth herein, the Borrower shall use its best efforts
to cause its transfer agent to electronically transmit the Common Stock issuable upon conversion to the Holder by crediting the account
of Holder's Prime Broker with OTC through its Deposit Withdrawal Agent Commission ("DWAC") system.

 

(e)  
Failure to Deliver Common Stock Prior to Deadline. Without in any way limiting the Holder's
right to pursue other remedies, including actual damages and/or equitable relief, the parties agree that if delivery of the Common Stock
issuable upon conversion of this Note is not delivered by the Deadline due to action and/or inaction of the Borrower, the Borrower shall
pay to the Holder

$2,000
per day in cash, for each day beyond the Deadline that the Borrower fails to deliver such Common Stock (the "Fail to Deliver Fee");
provided; however that the Fail to Deliver Fee shall not be due if the failure is a result of a third party (i.e., transfer agent; and
not the result of any failure to pay such transfer agent) despite the best efforts of the Borrower to effect delivery of such Common Stock.
Such cash amount shall be paid to Holder by the fifth day of the month following the month in which it has accrued or, at the option of
the Holder (by written notice to the Borrower by the first day of the month following the month in which it has accrued), shall be added
to the principal amount of this Note, in which event interest shall accrue thereon in accordance with the terms of this Note and such
additional principal amount shall be convertible into Common Stock in accordance with the terms of this Note.
The Borrower agrees that the right to convert is a valuable right to the Holder.
The damages resulting from a failure, attempt to frustrate, interference with such conversion right are difficult
if not impossible to qualify. Accordingly, the parties acknowledge
that the liquidated damages provision contained in this Section 1.4(e) are justified.

 

1.5    
 Concerning the Shares. The shares of Common Stock issuable upon conversion
of this Note may not be sold or transferred unless: (i)
such shares are sold pursuant to an effective registration statement under the Act or (ii) the Borrower or its transfer agent shall have
been furnished with an opinion of counsel (which opinion shall be in form, substance and scope customary for opinions

 

    	  

    	 

    

of
counsel in comparable transactions) to the effect that the shares to be sold or transferred may be sold or transferred pursuant to an
exemption from such registration (such as Rule 144 or a successor rule) ("Rule 144"); or (iii) such shares are transferred to
an "affiliate" (as defined in Rule 144) of the Borrower who agrees to sell or otherwise transfer the shares only in accordance
with this Section 1.5 and who is an Accredited Investor (as defined in the Purchase Agreement).

 

Any
restrictive legend on certificates representing shares of Common Stock issuable upon conversion of this Note shall be removed and the
Borrower shall issue to the Holder a new certificate therefore free of any transfer legend if the Borrower or its transfer agent shall
have received an opinion of counsel from Holder's counsel, in form, substance and scope customary for opinions of counsel in comparable
transactions, to the effect that (i) a public sale or transfer of such Common Stock may be made without registration under the Act, which
opinion shall be accepted by the Company so that the sale or transfer is effected; or (ii) in the case of the Common Stock issuable upon
conversion of this Note, such security is registered for sale by the Holder under an effective registration statement filed under the
Act; or otherwise may be sold pursuant to an exemption from registration. In the event that the Company does not reasonably accept the
opinion of counsel provided by the Holder with respect to the transfer of Securities pursuant to an exemption from registration (such
as Rule 144), at the Deadline, it will be considered an Event of Default pursuant to Section 3.2 of the Note.

 

		1.6	Effect of Certain Events.

 

(a)    
Effect of Merger, Consolidation, Etc.
At the option of the Holder, the sale, conveyance or disposition of all or substantially
all of the assets of the Borrower, the effectuation by the Borrower of a transaction or series of related transactions in which more than
50% of the voting power of the Borrower is disposed of, or the consolidation, merger or other business combination of the Borrower with
or into any other Person (as defined below) or Persons when the Borrower is not the survivor shall be deemed to be an Event of Default
(as defined in Article Ill) pursuant to which the Borrower shall be required to pay to the Holder upon the consummation of and as a condition
to such transaction an amount equal to the Default Amount (as defined in Article Ill). "Person" shall mean any individual, corporation,
limited liability company, partnership, association, trust or other entity or organization.

 

(b)   
Adjustment Due to Merger, Consolidation, Etc.
If, at any time when this Note is issued and outstanding and prior to conversion
of all of the Note, there shall be any merger, consolidation, exchange of shares, recapitalization, reorganization, or other similar event,
as a result of which shares of Common Stock of the Borrower shall be changed into the same or a different number of shares of another
class or classes of stock or securities of the Borrower or another entity, or in case of any sale or conveyance of all or substantially
all of the assets of the Borrower other than in connection with a plan of complete liquidation of
the Borrower, then the Holder of this Note shall thereafter have the right to receive upon conversion of this Note, upon the basis
and upon the terms and conditions specified herein and in lieu of the shares of Common Stock immediately theretofore issuable upon conversion,
such stock, securities or assets which the Holder would have been entitled to receive in such transaction had this Note been converted
in full immediately prior to such transaction (without regard to any limitations on conversion set forth herein), and in any such case
appropriate provisions shall be made with respect to the rights and interests of the Holder of this Note to the end that the provisions
hereof (including, without limitation, provisions for adjustment of the Conversion Price and of the number of shares issuable upon conversion
of the Note) shall thereafter be applicable, as nearly as may be practicable in relation to any securities or assets thereafter deliverable
upon the conversion hereof. The Borrower shall not affect any transaction described in this Section 1.6(b) unless (a) it first gives,
to the extent practicable, ten (10)

 

    	  

    	 

    

days
prior written notice (but in any event at least five (5) days prior written notice) of the record date of the special meeting of shareholders
to approve, or if there is no such record date, the consummation of, such merger, consolidation, exchange of shares, recapitalization,
reorganization or other similar event or sale of assets (during which time the Holder shall be entitled to convert this Note) and (b)
the resulting successor or acquiring entity (if not the Borrower) assumes by written instrument
the obligations of this Note. The above provisions shall similarly
apply to successive consolidations, mergers, sales, transfers or share exchanges.

 

(c)   Adjustment Due to Distribution.
If the Borrower shall declare or make any distribution of its assets (or rights to
acquire its assets) to holders of Common Stock as a dividend, stock repurchase, by way of return of capital or otherwise (including any
dividend or distribution to the Borrower's shareholders in cash or shares (or rights to acquire
shares) of capital stock of a subsidiary (i.e., a spin-off)) (a "Distribution"), then the Holder of this Note shall be entitled,
upon any conversion of this Note after the date of record for determining shareholders entitled to such Distribution, to receive the amount
of such assets which would have been payable to the Holder with respect to the shares of Common Stock issuable upon such conversion had
such Holder been the holder of such shares of Common Stock on the record date for the determination of shareholders entitled to such Distribution.

 

1.7    
Prepayment. Notwithstanding anything to the contrary contained in this Note,
at any time during the periods set forth on the table immediately following this paragraph (the "Prepayment
Periods") or as otherwise agreed to between the Borrower and the Holder, the Borrower shall have the right, exercisable on
not more than three (3) Trading Days prior written notice to the Holder of the Note to prepay the outstanding Note (principal and accrued
interest), in full, in accordance with this Section 1.7. Any
notice of prepayment hereunder (an "Optional Prepayment Notice") shall be delivered to the Holder of the Note at its registered
addresses and shall state: (1)
that the Borrower is exercising its right to prepay the Note, and (2) the date of prepayment which shall be not more than three

(3)
Trading Days from the date of the Optional Prepayment Notice. On the date fixed for prepayment (the "Optional Prepayment Date"),
the Borrower shall make payment of the Optional Prepayment Amount (as defined below) to Holder, or upon the direction of the Holder as
specified by the Holder in a writing to the Borrower (which shall direction to be sent to Borrower by the Holder at least one (1) business
day prior to the Optional Prepayment Date). If the Borrower exercises its right to prepay the Note, the Borrower shall make payment to
the Holder of an amount in cash equal to the percentage ("Prepayment Percentage") as set forth in the table immediately following
this paragraph opposite the applicable Prepayment Period, multiplied by the sum of: (w) the then outstanding principal amount of this
Note

(x)
accrued and unpaid interest on the unpaid principal amount of this Note to the Optional Prepayment Date
(y) Default Interest, if any, on the amounts referred to in clauses (w) and (x) (z) any amounts owed to the Holder pursuant to
Section 1.4 hereof (the "Optional Prepayment Amount").

 

	Prepayment
  Period	Prepayment
  Percentage
	The
                                 period beginning on the Issue Date and ending on the date in which is one hundred eighty (180) days
                                 following the Issue Date.

	140%

  

After
the expiration of the Prepayment Periods set forth above, the Borrower may submit an Optional Prepayment Notice to the
Holder. Upon receipt by the Holder of the Optional
Prepayment Notice post Prepayment Periods, the prepayment shall be subject to the Holder's and the Borrower's agreement with respect
to the applicable Prepayment Percentage.

 

 

    	  

    	 

    

Notwithstanding
anything contained herein to the contrary, the Holder's conversion rights herein shall not be affected in any way until the Note is fully
paid (funds received by the Holder) pursuant to an Optional Prepayment Notice.

 

ARTICLE II. CERTAIN
COVENANTS

 

2.1
Sale of Assets. So long as the
Borrower shall have any obligation under this Note, the Borrower shall not, without the Holder's written consent, sell, lease or otherwise
dispose of any significant portion of its assets outside the ordinary course of business. Any consent to the disposition of any assets
may be conditioned on a specified use of the proceeds of disposition.

 

ARTICLE
Ill. EVENTS OF DEFAULT

 

If any of the following events of default (each,
an "Event of Default") shall occur:

 

3.1   Failure to Pay Principal and Interest.
The Borrower fails to pay the principal hereof or interest thereon when due on this Note, whether at maturity or upon acceleration and
such breach continues for a period of five (5) days after written notice from the Holder.

 

3.2  
Conversion and the Shares.
The Borrower fails to issue shares of
Common Stock to the Holder (or announces or threatens in writing that it will not honor its obligation to do so) upon exercise by the
Holder of the conversion rights of the Holder in accordance with the terms of this Note, fails
to transfer or cause its transfer agent to transfer (issue) (electronically or in certificated form) any certificate for shares
of Common Stock issued to the Holder upon conversion of or otherwise pursuant to this Note as and when required by this Note, the Borrower
directs its transfer agent not to transfer or delays, impairs, and/or hinders its transfer agent in transferring (or issuing) (electronically
or in certificated form) any certificate for shares of Common Stock to be issued to the Holder upon conversion of or otherwise pursuant
to this Note as and when required by this Note, or fails to remove (or directs its transfer agent not to remove or impairs, delays, and/or
hinders its transfer agent from removing) any restrictive legend (or to withdraw any stop transfer
instructions in respect thereof) on any certificate for any shares of Common Stock issued to the Holder upon conversion of or
otherwise pursuant to this Note as and when required by this Note (or makes any written announcement, statement or threat that it does
not intend to honor the obligations described in this paragraph) and any such failure shall continue uncured (or any written announcement,
statement or threat not to honor its obligations shall not be rescinded in writing) for three (3) business days after the Holder shall
have delivered a Notice of Conversion. It is an obligation of the Borrower to remain current in its obligations to its transfer agent.
It shall be an event of default of this Note, if a conversion of this Note is delayed, hindered or frustrated due to a balance owed by
the Borrower to its transfer agent.
If at the option of the Holder, the
Holder advances any funds to the Borrower's transfer agent in order to process a conversion,
such advanced funds shall be paid by the Borrower to the Holder within forty-eight (48) hours of a demand from the Holder.

 

3.3   Breach of Covenants.
The Borrower breaches any material covenant or other
material term or condition contained in this Note and any collateral documents including but not limited to the Purchase Agreement and
such breach continues for a period of twenty (20) days after written notice thereof to the Borrower from the Holder.

 

3.4  
Breach of Representations and Warranties. Any
representation or warranty of the Borrower made herein or in any agreement, statement or certificate given in writing pursuant hereto
or in connection herewith (including, without limitation, the Purchase Agreement), shall be false or

 

    	  

    	 

    

misleading
in any material respect when made and the breach of which has (or with the passage of time will have) a material adverse effect on the
rights of the Holder with respect to this Note or the Purchase Agreement.

 

3.5  
  Receiver or Trustee. The Borrower or any subsidiary
of the Borrower shall make an assignment for the benefit of creditors, or apply for or consent to the appointment of a receiver or trustee
for it or for a substantial part of its property or business, or such a receiver or trustee shall otherwise be appointed.

 

3.6      Bankruptcy. Bankruptcy, insolvency, reorganization
or liquidation proceedings or other proceedings, voluntary or involuntary, for relief under any
bankruptcy law or any law for the relief of debtors shall be instituted by or against
the Borrower or any subsidiary of the Borrower.

 

3.7     
Delisting of Common Stock. The Borrower shall
fail to maintain the listing of the Common Stock on at least one of the OTC (which specifically includes the quotation platforms maintained
by the OTC Markets Group) or an equivalent replacement exchange, the Nasdaq National Market, the Nasdaq SmallCap Market, the New York
Stock Exchange, or the American Stock Exchange.

 

3.8      Failure to Comply with the Exchange
Act. The
Borrower shall fail to comply with the reporting requirements of the Exchange Act; and/or the Borrower shall cease to be subject to the
reporting requirements of the Exchange Act.

 

3.9     
Liquidation.
Any dissolution, liquidation, or winding
up of Borrower or any substantial portion of its business.

 

3.10 
Cessation of Operations. Any cessation of operations
by Borrower or Borrower admits it is otherwise generally unable to pay its debts as such debts become due, provided, however, that any
disclosure of the Borrower's ability to continue as a "going concern" shall not be an admission that the Borrower cannot pay
its debts as they become due.

 

3.11 
Financial Statement Restatement. The restatement
of any financial statements filed by the Borrower with the SEC at any time after 180 days after the Issuance Date for any date or period
until this Note is no longer outstanding, if the result of such restatement would, by comparison to the un-restated financial statement,
have constituted a material adverse effect on the rights of the Holder with respect to this Note or the Purchase Agreement.

 

3.12  
 Replacement of Transfer Agent.
In the event that the Borrower proposes
to replace its transfer agent,
the Borrower
fails to provide, prior to the effective date
of such replacement, a
fully executed Irrevocable Transfer Agent Instructions in a form as initially delivered pursuant to the Purchase Agreement (including
but not limited to the provision to irrevocably reserve shares of Common Stock in the Reserved Amount) signed by the successor transfer
agent to Borrower and the Borrower.

 

3.13   
Cross-Default.
Notwithstanding anything to the contrary
contained in this Note or the other related or companion documents, a breach or default by the Borrower of any covenant or other term
or condition contained in any of the Other Agreements, after the passage of all applicable notice and cure or grace periods,
shall,
at the option of the Holder, be considered
a default under this Note and the Other Agreements, in which event the Holder shall be entitled (but in no event required) to apply all
rights and remedies of the Holder under the terms of this Note and the Other Agreements by reason of a default under said Other Agreement
or hereunder. "Other Agreements" means, collectively,

 

    	  

    	 

    

all
agreements and instruments between, among or by: (1) the Borrower, and, or for the benefit of, (2) the Holder and any affiliate of the
Holder, including, without limitation, promissory notes; provided, however, the term "Other
Agreements" shall not include the related or companion documents to this Note.
Each of the loan transactions will be cross-defaulted with each other loan transaction and with all other
existing and future debt of Borrower to the Holder.

 

Upon
the occurrence and during the continuation of any Event of Default specified in Section 3.1
(solely with respect to failure to pay the principal hereof or interest thereon when due at the Maturity Date), the Note shall become
immediately due and payable and the Borrower shall pay to the Holder, in full satisfaction of its obligations hereunder, an amount equal
to the Default Sum (as defined herein). UPON THE OCCURRENCE AND DURING THE CONTINUATION
OF ANY EVENT OF DEFAULT SPECIFIED IN SECTION 3.2, THE NOTE SHALL BECOME IMMEDIATELY DUE AND PAYABLE AND THE BORROWER SHALL PAY TO THE
HOLDER, IN FULL SATISFACTION OF ITS OBLIGATIONS HEREUNDER, AN AMOUNT EQUAL TO: (Y) THE DEFAULT SUM (AS DEFINED HEREIN); MULTIPLIED BY
(Z) TWO (2). Upon the occurrence and during the continuation of any Event of Default specified in Sections 3.1 (solely with respect to
failure to pay the principal hereof or interest thereon when due on this Note upon a Trading Market Prepayment Event pursuant to Section
1.7 or upon acceleration), 3.3, 3.4, 3.7, 3.8, 3.10, 3.11, 3.12, 3.13, and/or 3.14 exercisable through the delivery of written notice
to the Borrower by such Holders (the "Default Notice"),
and upon the occurrence of an Event of Default specified the remaining sections of Articles Ill (other than failure to pay the principal
hereof or interest thereon at the Maturity Date specified in Section 3,1 hereof), the Note shall become immediately due and payable and
the Borrower shall pay to the Holder, in full satisfaction of its obligations hereunder, an amount equal to the greater of (i) 150% times
the sum of (w) the then outstanding principal amount of this Note (x) accrued and unpaid interest on the unpaid principal
amount of this Note to the date of payment (the "Mandatory Prepayment Date") (y) Default Interest, if any, on the amounts referred
to in clauses (w) and/or (x) (z) any amounts owed to the Holder pursuant to Sections 1.3 and 1.4(g) hereof (the then outstanding principal
amount of this Note to the date of
payment theamounts
referred to in clauses (x), (y) and
(z) shall collectively be known as the "Default
Sum") or (ii) the "parity value" of the Default Sum to be prepaid, where parity value means (a) the highest number of
shares of Common Stock issuable upon conversion of or otherwise pursuant to such Default Sum in accordance with Article I, treating the
Trading Day immediately preceding the Mandatory Prepayment Date as the "Conversion
Date" for purposes of determining the lowest applicable Conversion Price, unless the Default Event arises as a result of a breach
in respect of a specific Conversion Date in which case such Conversion Date shall be the Conversion Date), multiplied by (b) the
highest Closing Price for the Common Stock during the period beginning on the date of first occurrence of the Event of Default and ending
one day prior to the Mandatory Prepayment Date (the "Default Amount") and all other amounts payable hereunder shall immediately
become due and payable, all without demand, presentment or notice, all of which hereby are expressly waived, together with all costs,
including, without limitation, legal fees and expenses, of collection, and the Holder shall be entitled to exercise all other rights
and remedies available at law or in equity.

 

If
the Borrower fails to pay the Default Amount within five (5) business days of written notice that such amount is due and payable, then
the Holder shall have the right at any time, so long as the Borrower remains in default (and so long and to the extent that there are
sufficient authorized shares), to require the Borrower, upon written notice, to immediately issue, in lieu of the Default Amount, the
number of shares of Common Stock of the Borrower equal to the Default Amount divided by the
Conversion Price then in effect.

 

    	  

    	 

    
ARTICLE IV. MISCELLANEOUS

 

4.1     
Failure or Indulgence Not Waiver.
No failure or delay on the part of the
Holder in the exercise of any power, right or privilege hereunder shall operate as a waiver thereof,
nor shall any single or partial exercise
of any such power, right or privilege preclude other or further exercise thereof or of any other right,
power or privileges.
All rights and remedies existing hereunder
are cumulative to, and
not exclusive of, any
rights or remedies otherwise available.

 

4.2      
Notices.
All notices, demands, requests,
consents, approvals, and other communications
required or permitted hereunder shall be in writing and, unless otherwise specified herein, shall be (i) personally served, (ii) deposited
in the mail, registered or certified, return receipt requested, postage prepaid, (iii) delivered by reputable air courier service with
charges prepaid, or (iv) transmitted by hand delivery, telegram, or facsimile, addressed as set forth below or to such other address
as such party shall have specified most recently by written notice.
Any notice or other communication required
or permitted to be given hereunder shall be deemed effective (a) upon hand delivery or delivery by facsimile, with accurate confirmation
generated by the transmitting facsimile machine, at the address or number designated below (if delivered on a business day during normal
business hours where such notice is to be received), or the first business day following such delivery (if delivered other than on a
business day during normal business hours where such notice is to be received) or (b) on the second business day following the date of
mailing by express courier service, fully prepaid, addressed to such address, or upon actual receipt of such mailing, whichever shall
first occur. The addresses for such communications shall be:

 

If to the Borrower, to:

 

Eco
Innovation Group, Inc. 16525 Sherman Way, Suite C-1 Van Nuys,
CA 91406 julia.otey@ecoig.com

Attn:
Julia Otey-Raudes, Chief Executive Officer If to the Holder:

GENEVA ROTH REMARK HOLDINGS, INC.

111 Great
Neck Road, Suite 214 Great Neck, NY 11021

Attn:
Curt Kramer, Chief Executive Officer
e-mail: genevarothremark@gmail.com

 

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

Naidich
Wurman LLP

111
Great Neck Road, Suite 216

Great
Neck, NY
11021 Attn: Allison Naidich
facsimile: 516-466-3555

e-mail: allison@nwlaw.com

 

4.3     
Amendments. This Note and any
provision hereof may only be amended by an instrument in writing signed by the Borrower and the Holder.
The term "Note"
and all reference thereto, as used throughout
this instrument, shall mean this instrument (and the other Notes issued pursuant to

 

    	  

    	 

    

the
Purchase Agreement) as originally executed, or if later amended or supplemented, then as so amended or supplemented.

 

4.4      
Most Favored Nation.
During the period where any monies are
owed to the Holder pursuant to this Note, if the Borrower engages in any future financing transactions with a third party investor, the
Borrower will provide the Holder with written notice (the "MFN
Notice") thereof promptly but in
no event less than 10 days prior to closing any financing transactions. Included with the MFN Notice shall be a copy of all documentation
relating to such financing transaction and shall include, upon written request of the Holder, any additional information related to such
subsequent investment as may be reasonably requested by the Holder.
In the event
the Holder determines that the terms
of the subsequent investment are preferable to the terms of the securities of the Borrower issued to the Holder pursuant to the terms
of the Purchase Agreement, the Holder will notify the Borrower in writing. Promptly after receipt of such written notice from the Holder,
the Borrower agrees to amend and restate the Securities (which may include the conversion terms of this Note), to be identical to the
instruments evidencing the subsequent investment. Notwithstanding the foregoing, this Section 4.4 shall not apply in respect
of (i) an Exempt Issuance, or (ii) an underwritten public offering of Common Stock.
"Exempt Issuance" means
the issuance of: (a)
shares of Common Stock or options to employees, officers, consultants, advisors or directors of the Borrower pursuant to any stock or
option plan duly adopted for such purpose by a majority of the members of the Board of Directors
or a majority of the members of a committee of directors established for such purpose, (b) securities upon the exercise or exchange of
or conversion of this Note and/or other securities exercisable or exchangeable for or convertible into shares of Common Stock issued
and outstanding on the date hereof, and (c) securities issued pursuant to acquisitions or strategic transactions approved by a majority
of the disinterested directors of the Borrower, provided that any such issuance shall only be to a Person which is, itself or through
its subsidiaries, an operating company in a business synergistic with the business of the Borrower and in which the Borrower receives
benefits in addition to the investment of funds, but shall not include a transaction in which the Borrower is issuing securities primarily
for the purpose of raising capital or to an entity whose primary business is investing in securities.

 

4.5      
Assignability. This Note shall be binding upon
the Borrower and its successors and assigns, and shall inure to be the benefit of the Holder and its successors and assigns. Each transferee
of this Note must be an "accredited investor" (as defined in Rule 501(a) of the Securities and Exchange Commission). Notwithstanding
anything in this Note to the contrary, this Note may be pledged as collateral in connection with a bona fide margin account or
other lending arrangement; and may be assigned by the Holder without the consent of the Borrower.

 

4.6     
Cost of Collection.
If default is made in the payment of
this Note, the Borrower shall pay the Holder hereof costs of collection, including reasonable attorneys' fees.

 

4.7      
Governing
Law.
This Note
shall be governed by and construed in accordance with the laws of the State of New York without regard to principles of conflicts of
laws. Any
action brought by either party against the other concerning the transactions contemplated by this Note shall be brought only in the state
courts of New York or in the federal courts located in the state and county of Nassau.
The parties to this Note hereby irrevocably
waive any objection to jurisdiction and venue of any action instituted hereunder and shall not assert any defense based on lack of jurisdiction
or venue or based upon forum non conveniens.
The Borrower and Holder waive trial
by jury. The
prevailing party shall be entitled to recover from the other party its reasonable attorney's fees and costs. In the event that any provision
of this Note or any other agreement delivered in connection herewith is invalid or unenforceable under any applicable statute or rule
of law, then such provision shall be deemed inoperative to the extent that

 

 

    	  

    	 

    

it
may conflict therewith and shall be deemed modified to conform with such statute or rule of law.
Any such provision which may prove invalid or unenforceable
under any law shall not affect the validity or enforceability of any other provision of any agreement.
Each party hereby irrevocably waives personal service
of process and consents to process being served in any suit,
action or proceeding in connection with this Note,
any agreement or any other document delivered in connection
with this Note by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery) to such party
at the address in effect for notices to it under this Note and agrees that such service shall constitute good and sufficient service
of process and notice thereof. Nothing
contained herein shall be deemed to limit in any way any right to serve process in any other manner permitted by law.

 

4.8    
Purchase Agreement. By its acceptance
of this Note, each party agrees to be bound by the applicable terms of the Purchase Agreement.

 

4.9     
Remedies. The Borrower acknowledges
that a breach by it of its obligations hereunder will cause irreparable harm to the Holder, by vitiating the intent and purpose of the
transaction contemplated hereby. Accordingly, the Borrower acknowledges that the remedy at law for a breach of its obligations under
this Note will be inadequate and agrees, in the event of a breach or threatened breach by the Borrower of the provisions of this Note,
that the Holder shall be entitled, in
addition to all other available remedies at law or in equity, and in addition to the penalties assessable herein, to an injunction or
injunctions restraining, preventing or curing any breach of this Note and to enforce specifically the terms and provisions thereof, without
the necessity of showing economic loss and without any bond or other security being required.

 

    	  

    	 

    

 

IN WITNESS WHEREOF,
Borrower has caused this Note to be signed in its name by its duly authorized officer this on April 22, 2021.

 

Eco Innovation Group Inc

 

By:  /s/ Julia Otey-Raudes

Julia Otey-Raudes

Chief Executive Officer

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