Document:

EX-10.1

 Exhibit 10.1 

AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT 

THIS AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT (this “Agreement”), dated as of October 20, 2021, is entered into by
and among WeWork Inc., a Delaware corporation, formerly known as BowX Acquisition Corp. (the “Company”), BowX Sponsor, LLC, a Delaware limited liability company (the “Sponsor”) together with the undersigned parties
listed under BowX Investors on the signature pages hereto (the “BowX Investors”), SOF-X WW Holdings, L.P., a Delaware limited partnership, and SOF-XI WW
Holdings, L.P., a Delaware limited partnership (collectively, the “Starwood Investors”), and Insight Entity (the “Insight Investor” and together with the Starwood Investors, the “Anchor Investors”),
the undersigned parties listed under Windmill Investors on the signature pages hereto (the “Windmill Investors” and, collectively with the BowX Investors, the Anchor Investors and any person or entity who hereafter becomes a party
to this Agreement pursuant to Section 5.2 of this Agreement, the “Holders” and each a “Holder”). 

RECITALS 
 WHEREAS, each
of the Company and the BowX Investors is a party to, and hereby consents to, the amendment and restatement of that certain Registration Rights Agreement, dated August 4, 2020 (the “Existing Registration Rights Agreement”),
pursuant to which the Company granted the BowX Investors certain registration rights with respect to certain securities of the Company, as set forth therein; 

WHEREAS, the Company and the Vivek Ranadivé entered into that certain letter agreement, dated May 26, 2020 (the “Founder
Shares Purchase Agreement”), pursuant to which Mr. Ranadivé purchased an aggregate of 10,062,500 shares of the Company’s Class B common stock, par value $0.0001 per share (the “Class B Common
Stock”), and Mr. Ranadive subsequently transferred an aggregate of 3,363,500 Founder Shares to the other BowX Investors; 

WHEREAS, on August 4, 2020, the Company entered into those certain subscription agreements (the “Private Placement Warrant
Purchase Agreements”) with certain BowX Investors, pursuant to which BowX Investors purchased an aggregate of 7,773,333 private placement warrants (the “Private Placement Warrants”) to purchase, at an exercise price of
$11.50 per share of Class A Common Stock; 
 WHEREAS, on August 4, 2020, the Company effected a stock dividend of 0.2 shares of
Class B Common Stock for each share of Class B Common Stock outstanding, resulting in the BowX Investors holding an aggregate of 12,075,000 shares of Class B Common Stock (the “Founder Shares”); 

WHEREAS, pursuant to that certain Sponsor Support Agreement, dated March 25, 2021, Sponsor forfeited 3,000,000 Founder Shares on the date
hereof. 
 WHEREAS, upon the date hereof, Mr. Ranadivé transferred an aggregate of 1,811,250 shares of Class B Common Stock
to BlackRock Credit Alpha Master Fund, L.P. and HC NCBR Fund. 
 WHEREAS, upon the closing of the transactions (the
“Transactions”) contemplated by that certain Merger Agreement dated March 25, 2021 by and among the Company, BowX Merger Subsidiary Corp., a Delaware corporation (“Merger Sub”), and Windmill, a Delaware
corporation (as amended, the “Merger Agreement”), 9,075,000 Founder Shares were converted into shares of the Company’s Class A common stock, par value $0.001 per share (the “Class A Common
Stock”);  
 WHEREAS, on March 25, 2021, the Company entered into those certain Subscription Agreements (the
“Anchor Subscription Agreements”) with the Anchor Investors, pursuant to which and in connection with the closing of the Transactions, each of the Anchor Investors purchased shares of Class A Common Stock in a transaction
exempt from registration under the Securities Act; 
 WHEREAS, on the date hereof, pursuant to the Merger Agreement, the Windmill Investors
received shares of the Company’s Class A Common Stock; 

 WHEREAS, pursuant to Section 6.7 of the Existing Registration Rights Agreement, any
amendment or modification of the terms, provisions and covenants set forth therein will not be binding upon any party unless executed in writing by such party; and 

WHEREAS, the Company and the BowX Investors desire to amend and restate the Existing Registration Rights Agreement in order to provide the
BowX Investors, the Anchor Investors and the Windmill Investors with certain registration rights with respect to certain securities of the Company, on the terms and conditions set forth in this Agreement. 

NOW, THEREFORE, in consideration of the representations, covenants and agreements contained herein, and certain other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound hereby, agree as follows: 

ARTICLE I 

DEFINITIONS 
 1.1.
Definitions. The terms defined in Article I shall, for all purposes of this Agreement, have the respective meanings set forth below: 

“Adverse Disclosure” shall mean any public disclosure of material non-public
information, which disclosure, in the good faith judgment of the Chief Executive Officer or the Chief Financial Officer of the Company, after consultation with counsel to the Company, (i) would be required to be made in any Registration
Statement or Prospectus in order for the applicable Registration Statement or Prospectus not to contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements contained therein (in the case of any
prospectus and any preliminary prospectus in the light of the circumstances under which they were made) not misleading, (ii) would not be required to be made at such time if the Registration Statement were not being filed and (iii) either
(A) could reasonably be expected to have a material adverse effect on the Company’s ability to effect a material proposed acquisition, disposition, financing, reorganization, recapitalization or similar transaction or (B) relates to
information the accuracy of which has yet to be determined by the Company or which is the subject of an ongoing investigation or inquiry; provided that the Company takes all action as necessary to as expeditiously as possible make such determination
and conclude such investigation or inquiry. 
 “Agreement” shall have the meaning given in the Preamble hereto. 

“Anchor Investors” shall have the meaning given in the Recitals hereto. 

“Anchor Subscription Agreements” shall have the meaning given in the Recitals hereto. 

“business day” means a day, other than a Saturday or Sunday, on which commercial banks in New York, New York are open for the
general transaction of business. 
 “Block Trade” shall mean an underwritten registered offering not involving a
“roadshow,” an offer commonly known as a “block trade.” 
 “Board” shall mean the Board of Directors of
the Company. 
 “BowX Investors” has the meaning given in the Preamble hereto. 

“Class A Common Stock” has the meaning given in the Recitals hereto. 

“Closing Date” shall have the meaning given in the Merger Agreement. 

“Commission” shall mean the Securities and Exchange Commission. 

“Commission Guidance” means (i) any publicly-available written or oral guidance of the Commission staff, or any
comments, requirements or requests of the Commission staff and (ii) the Securities Act. 

  
 2 

 “Company” shall have the meaning given in the Preamble hereto and includes
the Company’s successors by recapitalization, merger, consolidation, spin-off, reorganization or similar transaction. 

“Company Underwritten Demand Notice” shall have the meaning given in subsection 2.1.3. 

“Demanding Anchor Investor” shall have the meaning given in subsection 2.1.5. 

“Demanding BowX-Windmill Investor” shall have the meaning given in subsection 2.1.5. 

“Demanding Holders” shall have the meaning given in subsection 2.1.3. 

“Exchange Act” shall mean the Securities Exchange Act of 1934, as it may be amended from time to time. 

“Existing Registration Rights Agreement” shall have the meaning given in the Recitals hereto. 

“Form S-1 Registration Statement” shall have the meaning given in subsection 2.1.1.

 “Form S-3 Shelf” shall have the meaning given in subsection 2.1.1. 

“Founder Shares” shall have the meaning given in the Recitals hereto and shall be deemed to include the shares of
Class A Common Stock issued upon conversion thereof. 
 “Founder Shares Purchase Agreement” has the meaning given in
the Recitals hereto. 
 “Holders” shall have the meaning given in the Preamble hereto, for so long as such person or entity
holds any Registrable Securities. 
 “Insider Letter” shall mean that certain letter agreement, dated as of August 4,
2020, by and between the Company, the Sponsor and each of the other parties thereto. 

“Lock-Up Letter Agreements” shall mean those certain letter agreements, dated as of
the Closing Date, whereby certain Holders agreed not to transfer their shares for the applicable Lock-Up Period. 

“Lock-Up Periods” shall mean the periods of time during which certain Holders have
agreed not to transfer their shares as set forth in the Lock-Up Letter Agreements. 

“Maximum Number of Securities” shall have the meaning given in subsection 2.2.4. 

“Merger Agreement” shall have the meaning given in the Recitals hereto. 

“Minimum Takedown Threshold” shall have the meaning given in subsection 2.1.3. 

“Misstatement” shall mean an untrue statement of a material fact or an omission to state a material fact required to be
stated therein, or necessary to make the statements therein (in the case of any Prospectus and any preliminary Prospectus, in the light of the circumstances under which they were made) not misleading. 

“Notices” shall have the meaning given in Section 5. 

“Permitted Transferees” shall mean (a) with respect to a BowX Investor, a person or entity to whom a BowX Investor is
permitted to Transfer such Registrable Securities prior to the expiration of such investor’s applicable Lock-up Period as set forth in such investor’s applicable
Lock-Up Letter Agreement, and to any transferee thereafter, and (b) with respect to a Windmill Investor, a person or entity to whom such Windmill Investor is permitted to Transfer such Registrable
Securities prior to the expiration of such investor’s applicable Lock-up Period as set forth in such investor’s applicable Lock-Up Letter Agreement pursuant to
Section 5.2 of this Agreement and any other applicable agreement between such Windmill Investors and the Company, and to any transferee thereafter. 

“Piggy-back Registration” shall have the meaning given in subsection 2.2.1. 

“Private Placement Warrants” shall have the meaning given in the Recitals hereto. 

  
 3 

 “Private Placement Warrants Purchase Agreements” shall have the meaning
given in the Recitals hereto. 
 “Pro Rata” shall have the meaning given in subsection 2.2.4.  

“Prospectus” shall mean the prospectus included in any Registration Statement, as supplemented by any and all prospectus
supplements and as amended by any and all post-effective amendments and including all material incorporated by reference in such prospectus. 

“Registrable Security” shall mean (a) any outstanding share of Class A Common Stock or any other equity security
(including the Private Placement Warrants and shares of Class A Common Stock issued or issuable upon the exercise of any other equity security) of the Company held by a Holder as of the date of this Agreement or hereafter acquired by a Holder
upon the conversion of the Founder Shares or the exercise of any Private Placement Warrants including any shares of Class A Common Stock acquired pursuant to the Merger Agreement by the Windmill Investors or pursuant to the New SBG Warrant (as
defined in the Merger Agreement), and (b) any other equity security of the Company issued or issuable with respect to any such share of Class A Common Stock referred to in the foregoing clause (a) by way of a stock dividend or stock
split or in connection with a combination of shares, recapitalization, merger, consolidation or other reorganization or otherwise; provided, however, that, as to any particular Registrable Security, such securities shall cease to be Registrable
Securities when: (i) a Registration Statement with respect to the sale of such securities shall have become effective under the Securities Act and such securities shall have been sold, transferred, disposed of or exchanged in accordance with
such Registration Statement; (ii) such securities shall have been otherwise transferred, and new certificates or book entry positions for such securities not bearing a legend restricting further transfer shall have been delivered by the
Company; (iii) such securities shall have ceased to be outstanding; (iv) such securities may be sold without registration pursuant to Rule 144 promulgated under the Securities Act (together with any successor rule promulgated thereafter by
the Commission, “Rule 144”) (but with no volume or other restrictions or limitations thereunder); or (v) such securities have been sold to, or through, a broker, dealer or underwriter in a public distribution or other public
securities transaction. 
 “Registration” shall mean a registration effected by preparing and filing a registration
statement or similar document in compliance with the requirements of the Securities Act, and the applicable rules and regulations promulgated thereunder, and such registration statement becoming effective. 

“Registration Expenses” shall mean the
out-of-pocket expenses of a Registration, including, without limitation, the following: 

(a) all registration and filing fees (including fees with respect to filings required to be made with the Financial Industry
Regulatory Authority, Inc.) and any securities exchange on which the Class A Common Stock is then listed; 
 (b) fees
and expenses of compliance with securities or blue sky laws (including reasonable fees and disbursements of counsel for the Underwriters in connection with blue sky qualifications of Registrable Securities); 

(c) printing, messenger, telephone, delivery and road show or other marketing expenses; 

(d) reasonable fees and disbursements of counsel for the Company; 

(e) reasonable fees and disbursements of all independent registered public accountants of the Company incurred specifically in
connection with such Registration; and 
 (f) in an Underwritten Offering, reasonable fees and expenses of one (1) legal
counsel (not to exceed $100,000 in the aggregate for each Registration without prior approval of the Company) selected by the majority-in-interest of the Demanding
Holders. 

  
 4 

 “Registration Statement” shall mean any registration statement that covers
the Registrable Securities pursuant to the provisions of this Agreement, including the Prospectus included in such registration statement, amendments (including post-effective amendments) and supplements to such registration statement, and all
exhibits to and all material incorporated by reference in such registration statement. 
 “Removed Shares” shall have the
meaning given in Section 2.6.  
 “Requesting Holders” shall have the meaning given in
Section 2.1.5.  
 “Restricted Securities” shall have the meaning given in subsection
3.6.1. 
 “Rule 144” shall have the meaning given in the definition of “Registrable Security.” 

“Rule 415” shall have the meaning given in subsection 2.1.1.  

“Securities Act” shall mean the Securities Act of 1933, as amended, and the rules and regulations of the Commission
promulgated thereunder, all as the same shall be in effect at the time. 
 “Sponsor” shall have the meaning given in the
Preamble hereto. 
 “Subscription Agreements” shall mean those certain subscription agreements dated March 25, 2021 by
and between the Company and certain subscribers to shares of Class A Common Stock. 
 “Transactions” shall have the
meaning given in the Recitals hereto. 
 “Transfer” shall mean to, directly or indirectly, sell, transfer, assign, pledge,
encumber, hypothecate or similarly dispose of, either voluntarily or involuntarily, or to enter into any contract, option or other arrangement or understanding with respect to the sale, transfer, assignment, pledge, encumbrance, hypothecation or
similar disposition of, any interest owned by a person or any interest (including a beneficial interest) in, or the ownership, control or possession of, any interest owned by a person. 

“Underwriter” shall mean a securities dealer who purchases any Registrable Securities as principal in an underwritten
offering and not as part of such dealer’s market-making activities. 
 “Underwritten Demand” shall have the meaning
given in subsection 2.1.3. 
 “Underwritten Demand Notice” shall have the meaning given in subsection 2.1.3. 

“Underwritten Registration” or “Underwritten Offering” shall mean a Registration in which securities of the
Company are sold to an Underwriter in a firm commitment underwriting for distribution to the public, including an offering and/or sale of Registrable Securities by any Holder in a Block Trade or on an underwritten basis (whether firm commitment or
otherwise) without substantial marketing efforts prior to pricing, including, without limitation, a same day trade, overnight trade or similar transaction. 

“Windmill Investors” shall have the meaning given in the Preamble hereto. 

“Withdrawal Notice” shall have the meaning given in subsection 2.1.6.  

ARTICLE II 

REGISTRATIONS 

2.1. Shelf Registration. 

2.1.1 Initial Registration. The Company shall, as promptly as reasonably practicable, but in no event later than thirty (30) days after
the consummation of the transactions contemplated by the Merger Agreement, file a Registration Statement under the Securities Act to permit the public resale of all the Registrable Securities held by the Holders from time to time as permitted by
Rule 415 under the Securities Act (or any successor or similar provision adopted by the Commission then in effect) (“Rule 415”) on the terms and conditions specified in this subsection 2.1.1 and shall use its reasonable best efforts

  
 5 

 
to cause such Registration Statement to be declared effective as promptly as reasonably practicable after the initial filing thereof, but in no event later than the earlier of (a) sixty (60)
days following the filing date thereof if the Commission notifies the Company that it will “review” the Registration Statement and (b) ten (10) business day after the date the Company is notified (orally or in writing, whichever is
earlier) by the Commission that the Registration Statement will not be “reviewed” or will not be subject to further review. The Registration Statement filed with the Commission pursuant to this subsection 2.1.1 shall be a shelf
registration statement on Form S-1 (a “Form S-1 Registration Statement”) or, if Form S-3 is available to the
Company, on Form S-3 (a “Form S-3 Shelf”) or such other form of registration statement as is then available to effect a registration for resale of such
Registrable Securities, covering such Registrable Securities, and shall contain a Prospectus in such form as to permit any Holder to sell such Registrable Securities pursuant to Rule 415 at any time beginning on the effective date for such
Registration Statement. A Registration Statement filed pursuant to this subsection 2.1.1 shall provide for the resale pursuant to any method or combination of methods legally available to, and requested by, the Holders. The Company shall cause a
Registration Statement filed pursuant to this subsection 2.1.1 to remain effective, and to be supplemented and amended to the extent necessary to ensure that such Registration Statement is available or, if not available, that another Registration
Statement is available, for the resale of all the Registrable Securities held by the Holders until all such Registrable Securities have ceased to be Registrable Securities. As soon as reasonably practicable following the effective date of a
Registration Statement filed pursuant to this subsection 2.1.1, the Company shall notify the Holders of the effectiveness of such Registration Statement. When effective, a Registration Statement filed pursuant to this subsection 2.1.1 (including the
documents incorporated therein by reference) will comply as to form in all material respects with all applicable requirements of the Securities Act and the Exchange Act and will not contain any untrue statement of a material fact or omit to state a
material fact required to be stated therein or necessary to make the statements therein not misleading (in the case of any Prospectus contained in such Registration Statement, in the light of the circumstances under which such statement is made).

 2.1.2 Form S-3 Shelf. If the Company files a Form S-3
Shelf and thereafter the Company becomes ineligible to use Form S-3 for secondary sales, the Company shall file a Form S-1 Registration Statement as promptly as
reasonably practicable to replace the shelf registration statement that is a Form S-3 Shelf and have the Form S-1 Registration Statement declared effective as promptly
as reasonably practicable and to cause such Form S-1 Registration Statement to remain effective, and to be supplemented and amended to the extent necessary to ensure that such Registration Statement is
available or, if not available, that another Registration Statement is available, for the resale of all the Registrable Securities held by the Holders until all such Registrable Securities have ceased to be Registrable Securities. 

2.1.3 Underwritten Offering. At any time and from time to time following the effectiveness of the Registration Statement required by subsection
2.1.1 or 2.1.2, any Anchor Investor, BowX Investor, or Windmill Investor may request to sell all or a portion of their Registrable Securities (a “Demanding Holder”) in an underwritten offering that is registered pursuant to such
Registration Statement, including a Block Trade (an “Underwritten Demand”), provided that such Holder(s) (a) reasonably expect aggregate gross proceeds, net of underwriting discounts and commissions, in excess of
$50 million (the “Minimum Takedown Threshold”) from such Underwritten Offering or (b) reasonably expects to sell all of the Registrable Securities held by such Holder in such Underwritten Offering, provided that the total
offering price is reasonably expected to exceed $25 million in the aggregate. All requests for an Underwritten Offering shall be made by giving written notice to the Company (the “Underwritten Demand Notice”). Each Underwritten
Demand Notice shall specify the approximate number of Registrable Securities proposed to be sold in the Underwritten Offering and the expected price range (net of underwriting discounts and commissions) of such Underwritten Offering. Within four
(4) days after receipt of any Underwritten Demand Notice, the Company shall give written notice of such requested Underwritten Offering (the “Company Underwritten Demand Notice”) to all other Holders of Registrable Securities
and, subject to reductions consistent with the Pro Rata calculations in subsection 2.1.5, shall include in such Underwritten Offering all Registrable Securities with respect to which the Company has received written

  
 6 

 
requests for inclusion therein, within five (5) days after sending the Company Underwritten Demand Notice, or, in the case of a Block Trade, as provided in
Section 2.6. The Company shall enter into an underwriting agreement in a form as is customary in Underwritten Offerings of securities by the Company with the managing Underwriter or Underwriters selected by the Demanding
Holders with the written consent of the Company (such consent not to be unreasonably withheld, delayed or conditioned), and shall take all such other reasonable actions as are requested by the managing Underwriter or Underwriters in order to
expedite or facilitate the disposition of such Registrable Securities. In connection with any Underwritten Offering contemplated by this subsection 2.1.3, subject to Section 3.3 and Article IV, the
underwriting agreement into which each Holder and the Company shall enter shall contain such representations, covenants, indemnities and other rights and obligations of the Company and such Holders as are customary in underwritten offerings of
securities. In any twelve (12) month period, the Company shall not be obligated to effect more than (x) an aggregate of three (3) Registrations pursuant to an Underwritten Demand or Underwritten Offering initiated by the BowX
Investors, (y) an aggregate of three (3) Registrations pursuant to an Underwritten Demand or an Underwritten Offering initiated by the Windmill Investors and (z) an aggregate of three (3) Registrations pursuant to an Underwritten
Demand or an Underwritten Offering initiated by the Anchor Investors, in each case, with respect to any of all Registrable Securities. 

2.1.4 Holder Information Required for Participation in Underwritten Offering. At least ten (10) business days prior to the first
anticipated filing date of a Registration Statement pursuant to this Article II, the Company shall use commercially reasonable efforts notify each Holder in writing (which may be by email) of the information reasonably necessary about the
Holder to include such Holder’s Registrable Securities in such Registration Statement. Notwithstanding anything else in this Agreement, the Company shall not be obligated to include such Holder’s Registrable Securities to the extent the
Company has not received such information, and received any other reasonably requested agreements or certificates, on or prior to the fifth business day prior to the first anticipated filing date of a Registration Statement pursuant to this
Article II.  
 2.1.5 Reduction of Underwritten Offering. If the managing Underwriter or Underwriters in an Underwritten
Offering, in good faith, advises the Company, the Demanding Holders and the Holders requesting to include their Registrable Securities in such Underwritten Offering (the “Requesting Holders”) (if any) in writing that, the dollar
amount or number of Registrable Securities that the Demanding Holders and the Requesting Holders (if any) desire to sell, taken together with all other Class A Common Stock or other equity securities that the Company desires to sell for its own
account and the Class A Common Stock, if any, as to which a Registration has been requested pursuant to separate written contractual piggy-back registration rights held by any other stockholders of the Company who desire to sell, exceeds the
maximum dollar amount or maximum number of equity securities that can be sold in such Underwritten Offering without adversely affecting the proposed offering price, the timing, the distribution method, or the probability of success of such offering
(such maximum dollar amount or maximum number of such securities, as applicable, the “Maximum Number of Securities”), then the Company shall include in such Underwritten Offering, as follows: (i) first, the Registrable
Securities of the Demanding Holders and Requesting Holders who are BowX Investors and Windmill Investors (each a “Demanding BowX-Windmill Investor”) (pro rata based on the respective number of Registrable Securities that each such
Demanding BowX-Windmill Investor has requested to be included in such Underwritten Registration and the aggregate number of Registrable Securities that the Demanding BowX-Windmill Investors have requested be included in such Underwritten
Registration (such proportion is referred to herein as “Pro Rata”)) that can be sold without exceeding the Maximum Number of Securities, (ii) second, to the extent that the Maximum Number of Securities has not been reached
under the foregoing clause, the Registrable Securities of the Demanding Holders who are Anchor Investors (each a “Demanding Anchor Investor”) (Pro Rata based on the respective number of Registrable Securities that each such
Demanding Anchor Investor has so requested), (iii) third, to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses (i) and (ii), the Registrable Securities of Requesting Holders, to the

  
 7 

 
extent not covered by the foregoing clauses (Pro Rata, based on the respective number of Registrable Securities that each Requesting Holder has so requested) exercising their rights to register
their Registrable Securities pursuant to subsection 2.2.1 hereof, without exceeding the Maximum Number of Securities; (iv) fourth, to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses (i),
(ii), and (iii), the Class A Common Stock or other equity securities that the Company desires to sell, which can be sold without exceeding the Maximum Number of Securities; and (v) fifth, to the extent that the Maximum Number of Securities
has not been reached under the foregoing clauses (i), (ii), (iii), and (iv), the common stock or other equity securities of other persons or entities that the Company is obligated to register in a Registration pursuant to separate written
contractual arrangements with such persons and that can be sold without exceeding the Maximum Number of Securities. 
 2.1.6 Underwritten
Offering Withdrawal. Prior to the filing of the applicable “red herring” prospectus or prospectus supplement used for marking such Underwritten Offering, a
majority-in-interest of the Demanding Holders initiating an Underwritten Demand pursuant to a Registration under subsection 2.1.3 shall have the right to withdraw
from a Registration pursuant to an Underwritten Offering pursuant to subsection 2.1.3 for any or no reason whatsoever upon written notification (“Withdrawal Notice”) to the Company and the Underwriter or Underwriters (if any)
of their intention to withdraw from such Registration; provided that any Requesting Holding may elect to have the Company continue an Underwritten Demand if the Minimum Takedown Threshold would still be satisfied by the Registrable Securities
proposed to be sold in the Underwritten Demand by such Requesting Holders. If withdrawn by a Demanding Holder, any Requesting Holder may elect to continue an Underwritten Demand pursuant to the proviso in the immediately preceding sentence and such
Underwritten Demand shall instead count as an Underwritten Demand demanded by such Requesting Holder for purposes of subsection 2.1.3. Following the receipt of any Withdrawal Notice, the Company shall promptly forward such Withdrawal Notice
to any other Holders that had elected to participate in such Underwritten Offering and shall not include the Registrable Securities of such withdrawing Demanding Holder(s) in the applicable registration and such Registrable Securities shall continue
to be Registrable Securities for all purposes of this Agreement (subject to the other terms and conditions of this Agreement). Notwithstanding anything to the contrary in this Agreement, the Company shall be responsible for the Registration Expenses
incurred in connection with a Registration pursuant to an Underwritten Offering prior to its withdrawal under this subsection 2.1.6.  

2.2. Piggy-back Registration. 

2.2.1 Piggy-back Rights. If the Company proposes to conduct a registered offering of, or to file a Registration Statement under the
Securities Act with respect to an offering of, equity securities, or securities or other obligations exercisable or exchangeable for, or convertible into equity securities, for its own account or for the account of stockholders of the Company (or by
the Company and by the stockholders of the Company including, without limitation, pursuant to Section 2.1), other than a Registration Statement (i) filed in connection with any employee stock option or other benefit
plan, (ii) pursuant to a Registration Statement on Form S-4 (or similar form that relates to a transaction subject to Rule 145 under the Securities Act or any successor rule thereto), (iii) for a rights
offering or an exchange offer or offering of securities solely to the Company’s existing stockholders, (iv) for an offering of debt that is convertible into equity securities of the Company, (v) for a dividend reinvestment plan, or
(vi) for a Block Trade, then the Company shall give written notice of such proposed filing to all of the Holders of Registrable Securities as soon as practicable but not less than ten (10) days before the anticipated filing date of such
Registration Statement or, in the case of an Underwritten Offering pursuant to a Form S-3 Shelf, not less than ten (10) days before the anticipated filing date of the prospectus supplement used for
marketing such offering, which notice shall (A) describe the amount and type of securities to be included in such offering, the intended method(s) of distribution and the name of the proposed managing Underwriter or Underwriters, if any, in
such offering and (B) offer to all of the Holders of Registrable Securities the opportunity to register the sale of such number of Registrable Securities as such Holders may request in writing within five (5) days after receipt of such
written notice (such Registration a “Piggy-back  

  
 8 

 
Registration”). The Company shall, in good faith, cause such Registrable Securities to be included in such Piggy-back Registration and shall use commercially reasonable efforts to
cause the managing Underwriter or Underwriters of a proposed Underwritten Offering to permit the Registrable Securities requested by the Holders pursuant to this subsection 2.2.1 to be included in a Piggy-back Registration on the same terms
and conditions as any similar securities of the Company included in such Registration and to permit the sale or other disposition of such Registrable Securities in accordance with the intended method(s) of distribution thereof. All such Holders
proposing to distribute their Registrable Securities through an Underwritten Offering under this subsection 2.2.1, shall enter into an underwriting agreement in customary form with the Underwriter(s) selected for such Underwritten Offering by
the Company. 
 2.2.2 Reduction of Piggy-back Registration. If the managing Underwriter or Underwriters for a in an Underwritten
Offering that is to be a Piggy-back Registration, in good faith, advises the Company and the Holders of Registrable Securities participating in the Piggy-back Registration in writing that the dollar amount or number of the shares of Class A
Common Stock or other equity securities that the Company desires to sell, taken together with (i) the shares of Class A Common Stock or other equity securities, if any, as to which Registration has been demanded pursuant to separate
written contractual arrangements with persons or entities other than the Holders of Registrable Securities hereunder, (ii) the Registrable Securities as to which registration has been requested pursuant to this
Section 2.2, and (iii) the shares of Class A Common Stock or other equity securities, if any, as to which Registration or a registered offering has been requested pursuant to separate written contractual
piggy-back registration rights of other stockholders of the Company exceeds the Maximum Number of Securities, then: 
 (a) If the
Registration is undertaken for the Company’s account, the Company shall include in any such Registration: (A) first, the Class A Common Stock or other equity securities that the Company desires to sell for its own account, which can
be sold without exceeding the Maximum Number of Securities; (B) second, to the extent that the Maximum Number of Securities has not been reached under the foregoing clause (A), the Registrable Securities of BowX Investors and Windmill Investors
exercising their rights to register their Registrable Securities pursuant to Section 2.2.1, Pro Rata, which can be sold without exceeding the Maximum Number of Securities; (C) third, to the extent that the Maximum
Number of Securities has not been reached under the foregoing clauses (A) and (B), the Registrable Securities of Anchor Investors exercising their rights to register their Registrable Securities pursuant to
Section 2.2.1, Pro Rata, and (D) fourth, to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses (A), (B) and (C), the Class A Common Stock or other equity securities,
if any, as to which Registration has been requested or demanded pursuant to written contractual piggy-back registration rights of other stockholders of the Company, which can be sold without exceeding the Maximum Number of Securities; and 

(b) If the Registration is pursuant to a request by persons or entities other than the Holders of Registrable Securities, then the Company
shall include in any such Registration (A) first, the Class A Common Stock or other equity securities, if any, of such requesting persons or entities, other than the Holders of Registrable Securities, which can be sold without exceeding
the Maximum Number of Securities; (B) second, to the extent that the Maximum Number of Securities has not been reached under the foregoing clause (A), the Registrable Securities of BowX Investors and Windmill Investors exercising their rights
to register their Registrable Securities pursuant to Section 2.2.1, Pro Rata, which can be sold without exceeding the Maximum Number of Securities; (C) third, to the extent that the Maximum Number of Securities has not
been reached under the foregoing clauses (A) and (B), the Registrable Securities of Anchor Investors exercising their rights to register their Registrable Securities pursuant to Section 2.2.1, Pro Rata, and
(D) fourth, to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses (A), (B) and (C), the Class A Common Stock or other equity securities, if any, as to which Registration has been requested or
demanded pursuant to written contractual piggy-back registration rights of other stockholders of the Company, which can be sold without exceeding the Maximum Number of Securities. 

  
 9 

 2.2.3 Piggy-back Registration Withdrawal. Any Holder of Registrable Securities shall
have the right to withdraw from a Piggy-back Registration for any or no reason whatsoever upon written notification to the Company and the Underwriter or Underwriters (if any) of his, her or its intention to withdraw from such Piggy-back
Registration prior to the effectiveness of the Registration Statement filed with the Commission with respect to such Piggy-back Registration (or, in the case of an Underwritten Registration pursuant to Rule 415, prior to the filing of the applicable
“red herring” prospectus or prospectus supplement with respect to such Piggy-back Registration used for marketing such transaction). The Company (whether on its own good faith determination or as the result of a request for withdrawal by
persons pursuant to separate written contractual obligations) may withdraw a Registration Statement filed with the Commission in connection with a Piggy-back Registration at any time prior to the effectiveness of such Registration Statement.
Notwithstanding anything to the contrary in this Agreement, the Company shall be responsible for the Registration Expenses incurred in connection with the Piggy-back Registration prior to its withdrawal under this subsection 2.2.3. 

 2.2.4 Unlimited Piggy-back Registration Rights. For purposes of clarity, any Registration effected pursuant to Section 2.3
hereof shall not be counted as a Registration pursuant to an Underwritten Offering effected under subsection 2.1.3.  
 2.3.
Market Stand-off. In connection with any Underwritten Offering of equity securities of the Company (other than a Block Trade), if requested by the managing Underwriters, each Holder that is (a) an
executive officer, (b) a director or (c) Holder in excess of five percent (5%) of the outstanding Class A Common Stock (and for which it is customary for such a Holder to agree to a lock-up)
agrees that it shall not transfer any shares of Common Stock or other equity securities of the Company (other than those included in such offering pursuant to this Agreement), without the prior written consent of the Company, during the ninety (90)-day period (or such shorter time agreed to by the managing Underwriters) beginning on the date of pricing of such offering, except as expressly permitted by such lock-up
agreement or in the event the managing Underwriters otherwise agree by written consent. Each such Holder agrees to execute a customary lock-up agreement in favor of the Underwriters to such effect (in each
case on substantially the same terms and conditions as all such Holders). 
 2.4. [Reserved]. 

2.5. Block Trades. 
 2.5.1
Notwithstanding any other provision of this Section 2, but subject to Section 3.4, if a Demanding Holder desires to effect a Block Trade (x) with a total offering price reasonably expected to exceed $50 million in the aggregate
or (y) with respect to all remaining Registrable Securities held by the Demanding Holder; provided that the total offering price is reasonably expected to exceed $25 million in the aggregate, then such Demanding Holder shall provide
written notice to the Company at least five (5) Business Days prior to the date such Block Trade will commence. The Company shall use commercially reasonable efforts to facilitate such Block Trade. The Holders shall use reasonable best efforts
to work with the Company and the Underwriters (including by disclosing the maximum number of Registrable Securities proposed to be the subject of such Block Trade) in order to facilitate preparation of the Registration Statement, Prospectus and
other offering documentation related to the Block Trade and any related due diligence and comfort procedures. In the event of a Block Trade, and after consultation with the Company, the Demanding Holders and the Requesting Holders (if any) shall
determine the Maximum Number of Securities, the underwriter or underwriters and share price of such offering. Notwithstanding anything to the contrary in this Agreement, Section 2.2 shall not apply to a Block Trade initiated by a Demanding
Holder pursuant to this Agreement. In any twelve (12) month period, the Company shall not be obligated to effect more than (x) one (1) Block Trade demanded by the BowX Investors, (y) three (3) Block Trade demanded by the Windmill
Investors and (z) one (1) Block Trade demanded by each of the Anchor Investors; provided however, that the BowX Investors, Windmill Investors and the Anchor Investors shall be entitled to make no less than six (6) Block Trade demands in
the aggregate in any such twelve (12) month period. For the avoidance of doubt, any Block Trade effected pursuant to this Section 2.5.1 shall not be counted as a demand for an Underwritten Demand or an Underwritten Offering pursuant to
Section 2.1.3 hereof. 

  
 10 

 2.5.2 The Demanding Holder in a Block Trade shall have the right to select the Underwriters
for such Block Trade (which shall consist of one or more reputable nationally recognized investment banks). 
 2.6. Rule 415; Removal.
If at any time the Commission takes the position that the offering of some or all of the Registrable Securities in a Registration Statement on Form S-3 filed pursuant to this Section 2 is not eligible to
be made on a delayed or continuous basis under the provisions of Rule 415 under the Securities Act (provided, however, the Company shall be obligated to use diligent efforts to advocate with the Commission for the registration of all of the
Registrable Securities in accordance with the Commission Guidance, including without limitation, Compliance and Disclosure Interpretation 612.09) or requires a BowX Investor, Anchor Investor or Windmill Investor to be named as an
“underwriter,” the Company shall (i) promptly notify each Holder of Registrable Securities thereof (or in the case of the Commission requiring a BowX Investor, Anchor Investor or Windmill Investor to be named as an
“underwriter,” the BowX Investor, Anchor Investor or Windmill Investor) and (ii) use reasonable best efforts to persuade the Commission that the offering contemplated by such Registration Statement is a valid secondary offering and
not an offering “by or on behalf of the issuer” as defined in Rule 415 and that none of the BowX Investors, Anchor Investors or Windmill Investors is an “underwriter.” The Holders shall have the right to select one legal counsel
designated by the Holders of a majority of the Registrable Securities subject to such Registration Statement to review and oversee any registration or matters pursuant to this Section 2.6, including participation in any meetings or discussions
with the Commission regarding the Commission’s position and to comment on any written submission made to the Commission with respect thereto. No such written submission with respect to this matter shall be made to the Commission to which the
applicable Holders’ counsel reasonably objects. In the event that, despite the Company’s reasonable best efforts and compliance with the terms of this Section 2.6, the Commission refuses to alter its position, the Company shall
(i) remove from such Registration Statement such portion of the Registrable Securities (the “Removed Shares”) and/or (ii) agree to such restrictions and limitations on the registration and resale of the Registrable
Securities as the Commission may require to assure the Company’s compliance with the requirements of Rule 415; provided, however, that the Company shall not agree to name any BowX Investor, Anchor Investor or Windmill Investor as an
“underwriter” in such Registration Statement without the prior written consent of such BowX Investor, Anchor Investor or Windmill Investor, as applicable. In the event of a share removal pursuant to this Section 2.6, the Company shall
give the applicable Holders at least five (5) days prior written notice along with the calculations as to such Holder’s allotment. Any removal of shares of the Holders pursuant to this Section 2.6 shall (A) first be applied to
Holders other than the BowX Investors, Anchor Investors or Windmill Investors with securities registered for resale under the applicable Registration Statement, (B) second be applied to the Anchor Investors with securities registered for resale
under the applicable Registration Statement and (C) thereafter allocated between the BowX Investors and Windmill Investors on a Pro Rata basis based on the aggregate amount of Registrable Securities held by the BowX Investors, Anchor Investors
or Windmill Investors. In the event of a share removal of the Holders pursuant to this Section 2.6, the Company shall promptly register the resale of any Removed Shares pursuant to subsection 2.1.2 hereof and in no event shall the filing of
such Registration Statement on Form S-1 or subsequent Registration Statement on Form S-3 filed pursuant to the terms of subsection 2.1.2 be counted as a Underwritten
Demand hereunder. Until such time as the Company has registered all of the Removed Shares for resale pursuant to Rule 415 on an effective Registration Statement, the Company shall not be able to defer the filing of a Registration Statement pursuant
to Section 2.3. 

  
 11 

 In the case of a Form S-1 Registration Statement filed to register
the resale of Removed Shares, upon such date as the Company becomes eligible to register all of the Removed Shares for resale on a Form S-3 Shelf pursuant to the Commission Guidance and, if applicable, without
a requirement that any of the BowX Investors, Anchor Investors or Windmill Investors be named as an “underwriter” therein, the Company shall use commercially reasonable efforts to file a Form S-3
Shelf as promptly as practicable to replace the applicable Form S-1 Registration Statement and have the Form S-3 Shelf declared effective as promptly as practicable and
to cause such Form S-3 Shelf to remain effective, and to be supplemented and amended to the extent necessary to ensure that such Registration Statement is available or, if not available, that another
Registration Statement is available, for the resale of all the Registrable Securities thereunder held by the applicable Holders until all such Registrable Securities have ceased to be Registrable Securities. 

ARTICLE III 

COMPANY PROCEDURES 

3.1. General Procedures. If the Company is required to effect the Registration of Registrable Securities, the Company shall use
commercially reasonable efforts to effect such Registration to permit the sale of such Registrable Securities in accordance with the intended plan of distribution thereof, and pursuant thereto the Company shall: 

3.1.1 prepare and file with the Commission within thirty (30) days a Registration Statement with respect to such Registrable Securities
and use commercially reasonable efforts to cause such Registration Statement to become effective and remain effective until all Registrable Securities covered by such Registration Statement are sold in accordance with the intended plan of
distribution set forth in such Registration Statement or have ceased to be Registrable Securities; 
 3.1.2 prepare and file with the
Commission such amendments and post-effective amendments to the Registration Statement, and such supplements to the Prospectus, as may be reasonably requested by any Holder of Registrable Securities or as may be required by the rules, regulations or
instructions applicable to the registration form used by the Company or by the Securities Act or rules and regulations thereunder to keep the Registration Statement effective until all Registrable Securities covered by such Registration Statement
are sold in accordance with the intended plan of distribution set forth in such Registration Statement or supplement to the Prospectus or have ceased to be Registrable Securities; 

3.1.3 prior to filing a Registration Statement or the Prospectus, or any amendment or supplement thereto, furnish without charge to the
Underwriters, if any, and each Holder of Registrable Securities included in such Registration, and such Holder’s legal counsel, copies of such Registration Statement as proposed to be filed, each amendment and supplement to such Registration
Statement (in each case including all exhibits thereto and documents incorporated by reference therein), the Prospectus included in such Registration Statement (including each preliminary Prospectus), and such other documents as the Underwriters and
each Holder of Registrable Securities included in such Registration or the legal counsel for any such Holders may reasonably request in order to facilitate the disposition of the Registrable Securities owned by such Holders; provided that the
Company shall have no obligation to furnish any documents publicly filed or furnished with the Commission pursuant to the Electronic Data Gathering, Analysis and Retrieval System (“EDGAR”); 

3.1.4 prior to any Underwritten Offering of Registrable Securities, use commercially reasonable efforts to (i) register or qualify the
Registrable Securities covered by the Registration Statement under such securities or “blue sky” laws of such jurisdictions in the United States as any Holder of Registrable Securities included in such Registration Statement (in light of
their intended plan of distribution) may request to the extent such registration or qualification is required by applicable law and (ii) take such action necessary to cause such Registrable Securities covered by the Registration Statement to be
registered with or approved by such other governmental authorities as may be necessary by virtue of the business and operations of the Company and do any and all other acts and things that may be necessary or advisable, in each case, to enable the
Holders of Registrable Securities included in such Registration Statement to consummate the disposition of such Registrable Securities in such jurisdictions; provided, however, that the Company shall not be required to qualify
generally to do business in any jurisdiction where it would not otherwise be required to qualify or take any action to which it would be subject to general service of process or taxation in any such jurisdiction where it is not then otherwise so
subject; 

  
 12 

 3.1.5 cause all such Registrable Securities to be listed on each securities exchange or
automated quotation system on which similar securities issued by the Company are then listed; 
 3.1.6 provide a transfer agent or warrant
agent, as applicable, and registrar for all such Registrable Securities no later than the effective date of such Registration Statement; 

3.1.7 promptly furnish to each seller of Registrable Securities covered by such Registration Statement such number of conformed copies of such
Registration Statement and of each such amendment and supplement thereto (in each case including all exhibits), such number of copies of the Prospectus contained in such Registration Statement (including each preliminary Prospectus and any summary
Prospectus) and any other Prospectus filed under Rule 424 under the Securities Act, in conformity with the requirements of the Securities Act, and such other documents as such seller may reasonably request; 

3.1.8 advise each seller of such Registrable Securities, promptly after it shall receive notice or obtain knowledge thereof, of any request by
the Commission that the Company amend or supplement such Registration Statement or Prospectus or the issuance of any stop order by the Commission suspending the effectiveness of such Registration Statement or Prospectus the initiation or threatening
of any proceeding for such purpose and promptly use commercially reasonable efforts to amend or supplement such Registration Statement or Prospectus or prevent the issuance of any stop order or to obtain its withdrawal if such stop order should be
issued, as applicable; 
 3.1.9 advise each Holder of Registrable Securities covered by such Registration Statement, promptly after the
Company receives notice thereof, of the time when such registration statement has been declared effective or a supplement to any Prospectus forming a part of such registration statement has been filed; 

3.1.10 at least five (5) days prior to the filing of any Registration Statement or Prospectus or any amendment or supplement to such
Registration Statement or Prospectus (or such shorter period of time as may be (a) necessary in order to comply with the Securities Act, the Exchange Act, and the rules and regulations promulgated under the Securities Act or Exchange Act, as
applicable or (b) advisable in order to reduce the number of days that sales are suspended pursuant to Section 3.4), furnish a copy thereof to each seller of such Registrable Securities or its counsel (excluding any
exhibits thereto and any filing made under the Exchange Act that is to be incorporated by reference therein); 
 3.1.11 as promptly as
practicable, notify the Holders at any time when a Prospectus relating to such Registration Statement is required to be delivered under the Securities Act, of the happening of any event or the existence of any condition as a result of which the
Prospectus included in such Registration Statement, as then in effect, includes a Misstatement, and then to correct such Misstatement as set forth in Section 3.4, at the request of any such Holder promptly prepare and
furnish to such Holder a reasonable number of copies of a supplement to or an amendment of such Prospectus as may be necessary so that, as thereafter delivered to the purchasers of such securities, such Prospectus shall not include a Misstatement or
such Prospectus, as supplemented or amended, shall comply with law; 
 3.1.12 in the event of an Underwritten Offering, permit a
representative of the Holders, if any, and any attorney or accountant retained by such Holders or Underwriter(s) to participate, at each such person’s or entity’s own expense, in the preparation of the Registration Statement, and cause the
Company’s officers, directors and employees to supply all information reasonably requested by any such representative, Underwriter, financial institution, attorney, consultant or accountant in connection with the Registration; provided,
however, that such representatives, Underwriters or financial institutions agree to confidentiality arrangements in form and substance reasonably satisfactory to the Company, prior to the release or disclosure of any such information; 

  
 13 

 3.1.13 obtain a “cold comfort” letter from the Company’s independent
registered public accountants in the event of an Underwritten Offering in customary form and covering such matters of the type customarily covered by “cold comfort” letters as the managing Underwriter may reasonably request, and reasonably
satisfactory to a majority-in-interest of the participating Holders; 

3.1.14 in the event of an Underwritten Offering, on the date the Registrable Securities are delivered for sale pursuant to such Registration,
obtain an opinion, dated such date, of counsel representing the Company for the purposes of such Registration, addressed to the participating Holders, the placement agents or sales agent, if any, and the Underwriters, if any, covering such legal
matters with respect to the Registration in respect of which such opinion is being given as the participating Holders, placement agent, sales agent or Underwriter may reasonably request and as are customarily included in such opinions and negative
assurance letters; 
 3.1.15 in the event of any Underwritten Offering, enter into and perform its obligations under an underwriting
agreement, in usual and customary form, with the managing Underwriter of such offering; 
 3.1.16 make available to its security holders, as
soon as reasonably practicable, an earnings statement covering the period of at least twelve (12) months beginning with the first day of the Company’s first full calendar quarter after the effective date of the Registration Statement which
satisfies the provisions of Section 11(a) of the Securities Act, including Rule 158 thereunder (or any successor rule promulgated thereafter by the Commission); 

3.1.17 use commercially reasonable efforts to make available senior executives of the Company to participate in customary “road show”
presentations that may be reasonably requested by the Underwriter(s) in any Underwritten Offering; and 
 3.1.18 otherwise, in good faith,
cooperate reasonably with, and take such customary actions as may reasonably be requested by the participating Holders, consistent with the terms of this Agreement, in connection with such Registration. 

Notwithstanding the foregoing, the Company shall not be required to provide any documents or information to an Underwriter, broker, sales agent or placement
agent if such Underwriter, broker, sales agent or placement agent has not then been named with respect to the applicable Underwritten Offering or other offering involving a registration as an Underwriter, broker, sales agent or placement agent, as
applicable. 
 3.2. Registration Expenses. The Registration Expenses of all Registrations shall be borne by the Company. It is
acknowledged by the Holders that the Holders shall bear all incremental selling expenses relating to the sale of Registrable Securities, such as Underwriters’ commissions and discounts, brokerage fees, Underwriter marketing costs, and, other
than as set forth in the definition of “Registration Expenses,” all reasonable fees and expenses of any legal counsel representing any Holder. 

3.3. Participation in Underwritten Offering. 

3.3.1 No person or entity may participate in any Underwritten Offering for equity securities of the Company pursuant to a Registration
initiated by the Company hereunder unless such person or entity (i) agrees to sell such person’s or entity’s securities on the basis provided in any underwriting arrangements approved by the Company and (ii) completes and
executes all customary questionnaires, powers of attorney, indemnities, lock-up agreements, underwriting agreements and other customary documents as may be reasonably required under the terms of such
underwriting arrangements. 
 3.4. Suspension of Sales; Adverse Disclosure; Restriction on Registration Rights. 

3.4.1 Upon receipt of written notice from the Company that a Registration Statement or Prospectus contains a Misstatement, each of the Holders
shall forthwith discontinue disposition of Registrable Securities until it has received copies of a supplemented or amended Prospectus correcting the Misstatement (it being understood that the Company hereby covenants to prepare and file such
supplement or amendment as soon as practicable after the time of such notice such that the Registration Statement or Prospectus, as so amended or supplemented, as applicable, will not include a Misstatement), or until it is advised in writing by the
Company that the use of the Prospectus may be resumed. 

  
 14 

 3.4.2 Subject to Section 3.4.4, if the filing, initial
effectiveness or continued use of a Registration Statement in respect of any Registration at any time would require the Company to make an Adverse Disclosure or would require the inclusion in such Registration Statement of financial statements that
are unavailable to the Company for reasons beyond the Company’s control, the Company may, upon giving prompt written notice of such action to the Holders, delay the filing or initial effectiveness of, or suspend use of, such Registration
Statement for the shortest period of time, but in no event more than thirty (30) days, determined in good faith by the Company to be necessary for such purpose. In the event the Company exercises its rights under the preceding sentence, the
Holders agree to suspend, immediately upon their receipt of the notice referred to above, their use of the Prospectus relating to any Registration in connection with any sale or offer to sell Registrable Securities. The Company shall immediately
notify the Holders of the expiration of any period during which it exercised its rights under this Section 3.4.2.  

3.4.3 (a) During the period starting with the date thirty (30) days prior to the Company’s good faith estimate of the date of the
filing of, and ending on a date ninety (90) after the effective date of, a Company-initiated Registration and provided that the Company continues to actively employ, in good faith, all reasonable efforts to maintain the effectiveness of the
applicable shelf Registration Statement, the Company may, upon giving prompt written notice of such action to the Holders, delay any other registered offering pursuant to Section 2.4 and, (b) during the period starting
with the date fifteen (15) days prior to the Company’s good faith estimate of the date of the filing of, and ending on a date forty five (45) days after the effective date of, a Company-initiated Registration, and provided that the
Company continues to actively employ, in good faith, all reasonable efforts to maintain the effectiveness of the applicable shelf Registration Statement, the Company may, upon giving prompt written notice of such action to the Holders, delay any
other registered offering pursuant to Section 2.4.  
 3.4.4 The right to delay or suspend any filing,
initial effectiveness or continued use of a Registration Statement pursuant to Section 3.4.2 or registered offering pursuant to Section 3.4.3 shall be exercised by the Company, in the aggregate, on
not more than two occasions or for more than sixty (60) consecutive calendar days, or more than one hundred and twenty (120) total calendar days, in each case during any twelve-month period. 

3.5. Covenants of the Company. As long as any Holder shall own Registrable Securities, the Company hereby covenants and agrees: 

3.5.1 at all times while it shall be a reporting company under the Exchange Act, covenants to file timely (or obtain extensions in respect
thereof and file within the applicable grace period) all reports required to be filed by the Company after the date hereof pursuant to Sections 13 (a) or 15(d) of the Exchange Act. The Company further covenants that it shall take such further action
as any Holder may reasonably request, all to the extent required from time to time to enable such Holder to sell shares of Class A Common Stock held by such Holder without registration under the Securities Act within the limitation of the
exemptions provided by Rule 144 promulgated under the Securities Act, including providing any legal opinions. Upon the request of any Holder, the Company shall deliver to such Holder a written certification of a duly authorized officer as to whether
it has complied with such requirements; and 
 3.5.2 reasonably promptly following the effectiveness of the shelf registration statement
required by subsection 2.1.1, the Company shall cause the transfer agent to remove any restrictive legends (including any electronic transfer restrictions) from any Class A Common Stock or Private Placement Warrants held by such Holder
and provide or cause any customary opinions of counsel to be delivered to the transfer agent in connection with such removal. The Company shall be responsible for the fees of the transfer agent associated with such issuance. 

3.6. [Reserved]. 

  
 15 

 ARTICLE IV 

INDEMNIFICATION AND CONTRIBUTION 

4.1. Indemnification. 

4.1.1 The Company agrees to indemnify, to the extent permitted by law, each Holder of Registrable Securities, its officers and directors and
each person who controls such Holder (within the meaning of the Securities Act) against all losses, claims, damages, liabilities and expenses (including attorneys’ fees) caused by (i) any untrue or alleged untrue statement of material fact
contained in any Registration Statement, Prospectus or preliminary Prospectus or any amendment thereof or supplement thereto or any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements
therein not misleading, except insofar as the same are caused by or contained in any information furnished in writing to the Company by such Holder expressly for use therein and (ii) any violation or alleged violation by the Company of the
Securities Act, Exchange Act or any state securities law or any rule or regulation thereunder, in connection with the performance of its obligations under this Article IV; provided, that the indemnification contained in this Article
IV shall not apply to amounts paid in settlement of any losses, claims, damages, liabilities and expenses (including attorneys’ fees) if such settlement is effected without the consent of the Company (which consent shall not be unreasonably
withheld, conditioned or delayed). The Company shall indemnify the Underwriters, their officers and directors and each person who controls such Underwriters (within the meaning of the Securities Act) to the same extent as provided in the foregoing
with respect to the indemnification of the Holder. 
 4.1.2 In connection with any Registration Statement in which a Holder of Registrable
Securities is participating, such Holder shall furnish (or cause to be furnished) to the Company in writing such information and affidavits as the Company reasonably requests for use in connection with any such Registration Statement or Prospectus
and, to the extent permitted by law, shall indemnify the Company, its directors and officers and agents and each person who controls the Company (within the meaning of the Securities Act) against any losses, claims, damages, liabilities and expenses
(including without limitation reasonable and documented attorneys’ fees) resulting from any untrue statement of material fact contained in the Registration Statement, Prospectus or preliminary Prospectus or any amendment thereof or supplement
thereto or any omission of a material fact required to be stated therein or necessary to make the statements therein not misleading, but only to the extent that such untrue statement or omission is contained in any information or affidavit so
furnished in writing by such Holder expressly for use therein. The Holders of Registrable Securities shall indemnify the Underwriters, their officers, directors and each person who controls such Underwriters (within the meaning of the Securities
Act) to the same extent as provided in the foregoing with respect to indemnification of the Company. For the avoidance of doubt, the obligation to indemnify under this Section 4.1.2 shall be several, not joint and several,
among the Holders of Registrable Securities, and the total liability of a Holder under this Section 4.1.2 shall be in proportion to and limited to the net proceeds received by such Holder from the sale of Registrable
Securities pursuant to such Registration Statement. 
 4.1.3 Any person entitled to indemnification herein shall (a) give prompt written
notice to the indemnifying party of any claim with respect to which it seeks indemnification (provided that the failure to give prompt notice shall not impair any person’s right to indemnification hereunder to the extent such failure has not
materially prejudiced the indemnifying party) and (b) unless in such indemnified party’s reasonable judgment a conflict of interest between such indemnified and indemnifying parties may exist with respect to such claim, permit such
indemnifying party to assume the defense of such claim with counsel reasonably satisfactory to the indemnified party. After notice from the indemnifying party to the indemnified party of its election to assume the defense of such claim or action,
the indemnifying party shall not be liable to the indemnified party under this Article IV for any legal or other expenses subsequently 

  
 16 

 
incurred by the indemnified party in connection with the defense thereof other than reasonable costs of investigation, unless (a) such indemnified party reasonably objects to such assumption
on the grounds that there may be defenses available to it which are different from or in addition to the defenses available to such indemnifying party, (b) the indemnifying party shall have failed within a reasonable period of time to assume
such defense or, having assumed such defense, has not conducted the defense of such claim actively and diligently or (c) the named parties in any such proceeding (including any impleaded parties) include both the indemnified party and the
indemnifying party and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interest between them, in which case the indemnified party shall be promptly reimbursed by the indemnifying party
for the expenses incurred in connection with retaining one separate legal counsel, in addition to any local counsel (for the avoidance of doubt, for all indemnified parties in connection therewith). If such defense is assumed, (i) the
indemnifying party shall keep the indemnified party informed as to the status of such claim at all stages thereof (including all settlement negotiations and offers), promptly submit to such indemnified party copies of all pleadings, responsive
pleadings, motions and other similar legal documents and paper received or filed in connection therewith, permit such indemnified party and their respective counsels to confer with the indemnifying party and its counsel with respect to the conduct
of the defense thereof, and permit indemnified party and its counsel a reasonable opportunity to review all legal papers to be submitted prior to their submission and (ii) the indemnifying party shall not be subject to any liability for any
settlement made by the indemnified party without its consent (but such consent shall not be unreasonably withheld). In any action hereunder as to which the indemnifying party has assumed the defense thereof with counsel satisfactory to the
indemnified party, the indemnified party shall continue to be entitled to participate in the defense thereof, with counsel of its own choice, but the indemnifying party shall not be obligated hereunder to reimburse the indemnified party for the
costs thereof. No indemnifying party shall, without the prior written consent of the indemnified party, consent to the entry of any judgment or enter into any settlement which cannot be settled in all respects by the payment of money (and such money
is so paid by the indemnifying party pursuant to the terms of such settlement) or which settlement includes a statement or admission of fault, culpability or failure to act on the part of such indemnified party or which settlement does not include
as an unconditional term thereof the giving by the claimant or plaintiff to such indemnified party of a release from all liability in respect to such claim or litigation that shall be in form and substance satisfactory to such indemnified party.

 4.1.4 The indemnification provided for under this Agreement shall remain in full force and effect regardless of any investigation made by
or on behalf of the indemnified party or any officer, director or controlling person of such indemnified party and shall survive the transfer of securities. 

4.1.5 If the indemnification provided under this Section 4.1 hereof from the indemnifying party is unavailable or
insufficient to hold harmless an indemnified party in respect of any losses, claims, damages, liabilities and expenses referred to herein, then the indemnifying party, in lieu of indemnifying the indemnified party, shall contribute to the amount
paid or payable by the indemnified party as a result of such losses, claims, damages, liabilities and expenses in such proportion as is appropriate to reflect the relative fault of the indemnifying party and the indemnified party, as well as any
other relevant equitable considerations. The relative fault of the indemnifying party and indemnified party shall be determined by reference to, among other things, whether any action in question, including any untrue or alleged untrue statement of
a material fact or omission or alleged omission to state a material fact, was made by, or relates to information supplied by, such indemnifying party or indemnified party, and the indemnifying party’s and indemnified party’s relative
intent, knowledge, access to information and opportunity to correct or prevent such action; provided, however, that the liability of any Holder under this subsection 4.1.5 shall be limited to the amount of the net proceeds
received by such Holder in such offering giving rise to such liability. The amount paid or payable by a party as a result of the losses or other liabilities referred to above shall be deemed to include, subject to the limitations set forth in
subsections 4.1.1, 4.1.2 and 4.1.3 above, any legal or other fees, charges or expenses reasonably incurred by such party in connection with any investigation or proceeding. The parties hereto agree that it would not be just and

  
 17 

 
equitable if contribution pursuant to this subsection 4.1.5 were determined by Pro Rata allocation or by any other method of allocation, which does not take account of the equitable
considerations referred to in this subsection 4.1.5. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution pursuant to this subsection 4.1.5
from any person who was not guilty of such fraudulent misrepresentation. 
 ARTICLE V 

MISCELLANEOUS 

5.1. Notices. Any notice or communication under this Agreement must be in writing and given by (a) deposit in the United States
mail, addressed to the party to be notified, postage prepaid and registered or certified with return receipt requested, (b) delivery in person or by courier service providing evidence of delivery, or (c) transmission by hand delivery,
electronic mail or facsimile. Each notice or communication that is mailed, delivered, or transmitted in the manner described above shall be deemed sufficiently given, served, sent, and received, in the case of mailed notices, on the third business
day following the date on which it is mailed and, in the case of notices delivered by courier service, hand delivery, electronic mail, telecopy, telegram or facsimile, at such time as it is delivered to the addressee (with the delivery receipt or
the affidavit of messenger) or at such time as delivery is refused by the addressee upon presentation. Any notice or communication under this Agreement must be addressed, if to the Company, to: WeWork Inc., 45 W. 18th Street, Floor 6, New York, NY
10011, Attention: Chief Legal Officer, Email: legal@wework.com and, if to any Holder, at such Holder’s address or facsimile number as set forth in the Company’s books and records. Any party may change its address for notice at any time and
from time to time by written notice to the other parties hereto, and such change of address shall become effective thirty (30) days after delivery of such notice as provided in this Section 6.1. 

5.2. Assignment; No Third Party Beneficiaries. 

5.2.1 This Agreement and the rights, duties and obligations of the Company and the Holder of Registrable Securities, as the case may be,
hereunder may not be assigned or delegated by the Company or the Holders of Registrable Securities, as the case may be, in whole or in part, except in connection with a transfer of Registrable Securities by such Holder to a Permitted Transferee but
only if such Permitted Transferee agrees to become bound by this Agreement and any Lock-Up Period applicable to such Registrable Securities. 

5.2.2 Prior to the expiration of any Lock-Up Period, no Holder subject to any such Lock-Up Period may assign or delegate such Holder’s rights, duties or obligations under this Agreement, in whole or in part, in violation of the applicable Lock-Up
Period, except in connection with a transfer of Registrable Securities by such Holder to a Permitted Transferee but only if such Permitted Transferee agrees to become bound by this Agreement and any Lock-Up
Period applicable to such Registrable Securities. 
 5.2.3 This Agreement and the provisions hereof shall be binding upon and shall inure to
the benefit of each of the parties and its successors and the permitted assigns of the Holders, which shall include Permitted Transferees. 

5.2.4 This Agreement shall not confer any rights or benefits on any persons that are not parties hereto, other than as expressly set forth in
this Agreement and this Section 5.2.  
 5.2.5 No assignment by any party hereto of such party’s
rights, duties and obligations hereunder shall be binding upon or obligate the Company unless and until the Company shall have received (i) written notice of such assignment as provided in Section 5.1 hereof and
(ii) the written agreement of the assignee, in a form reasonably satisfactory to the Company, to be bound by the terms and provisions of this Agreement (which may be accomplished by an addendum or certificate of joinder to this Agreement). Any
transfer or assignment made other than as provided in this Section 5.2 shall be null and void. 

  
 18 

 5.3. Counterparts. This Agreement may be executed in multiple counterparts (including
facsimile or PDF counterparts), each of which shall be deemed an original, and all of which together shall constitute the same instrument, but only one of which need be produced. 

5.4. Governing Law; Venue. THE PARTIES EXPRESSLY AGREE THAT (I) THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED UNDER THE LAWS OF
THE STATE OF NEW YORK AND (II) THE VENUE FOR ANY ACTION TAKEN WITH RESPECT TO THIS AGREEMENT SHALL BE ANY STATE OR FEDERAL COURT IN NEW YORK COUNTY IN THE STATE OF NEW YORK. 

5.5. Amendments and Modifications. Upon the written consent of the Company and the Holders of at least a majority in interest of the
Registrable Securities at the time in question, compliance with any of the provisions, covenants and conditions set forth in this Agreement may be waived, or any of such provisions, covenants or conditions may be amended or modified; provided,
however, that notwithstanding the foregoing, any amendment hereto or waiver hereof that adversely affects one Holder or group of affiliated Holders, solely in its capacity as a holder of the shares of capital stock of the Company, in a manner that
is materially different from the other Holders (in such capacity) shall require the consent of the Holder or group of affiliated Holders so affected and (b) any amendment hereto or waiver hereof that adversely affects the rights of any Anchor
Investor shall require the consent of such entity. No course of dealing between any Holder or the Company and any other party hereto or any failure or delay on the part of a Holder or the Company in exercising any rights or remedies under this
Agreement shall operate as a waiver of any rights or remedies of any Holder or the Company. No single or partial exercise of any rights or remedies under this Agreement by a party shall operate as a waiver or preclude the exercise of any other
rights or remedies hereunder or thereunder by such party. 
 5.6. Other Registration Rights. Other than pursuant to the terms of the
Subscription Agreements, the Company represents and warrants that no person, other than the Holders of the Registrable Securities, has any right to require the Company to register any shares of the Company’s capital stock for sale or to include
shares of the Company’s capital stock in any registration filed by the Company for the sale of shares of capital stock for its own account or for the account of any other person. Further, with respect to the parties hereto, the Company
represents and warrants that this Agreement supersedes any other registration rights agreement or agreement with similar terms and conditions and in the event of a conflict between any such agreement or agreements and this Agreement, the terms of
this Agreement shall prevail. For so long as at least five percent (5%) of the shares of Class A Common Stock outstanding as of the date of this Agreement remain outstanding and constitute Registrable Securities, the Company hereby agrees and
covenants that it will not grant rights to register any shares of Class A Common Stock or any other class or series of equity securities of the Company pursuant to the Securities Act that are more favorable, pari passu or senior to those
granted to the Holders hereunder without the prior written consent of the Holders of a majority of the total Registrable Securities. 
 5.7.
Term. This Agreement shall terminate, with respect to any Holder, on the date that such Holder no longer holds any Registrable Securities. The provisions of Sections 3.2 and 3.5 and Articles IV and V shall survive any termination. 

5.8. Specific Performance. Each of the parties acknowledges and agrees that the other parties would be damaged irreparably in the event
any of the provisions of this Agreement are not performed in accordance with their specific terms or otherwise are breached or violated. Accordingly, to the fullest extent permitted by law, each of the parties agrees that, without posting bond or
other undertaking, the other parties will be entitled to an injunction or injunctions to prevent breaches or violations of the provisions of this Agreement and to enforce specifically this Agreement and the terms and provisions hereof in any action,
claim or suit in addition to any other remedy to which it may be entitled, at law or in equity. Each party further agrees that, in the event of any action for specific performance in respect of such breach or violation, it will not assert that the
defense that a remedy at law would be adequate. 

  
 19 

 5.9. Entire Agreement. This Agreement constitutes the entire understanding and
agreement between the parties as to the matters covered herein and supersedes and replaces any prior understanding, agreement or statement of intent, in each case, written or oral, of any and every nature with respect thereto. 

5.10. Severability. This Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof
shall not affect the validity or enforceability of this Agreement or of any other term or provision hereof. Furthermore, in lieu of any such invalid or unenforceable term or provision, the parties hereto intend that there shall be added as a part of
this Agreement a provision as similar in terms to such invalid or unenforceable provision as may be possible that is valid and enforceable. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 20 

 IN WITNESS WHEREOF, the parties have caused this Registration Rights Agreement to be
executed and delivered by their duly authorized representatives as of the date first written above. 
  

			
	COMPANY:
	
	WEWORK INC.
		
	By:	 	 /s/ Jared DeMatteis

		 	Name:Jared DeMatteis
		 	Title:Chief Legal Officer and Secretary

 IN WITNESS WHEREOF, the parties have caused this Registration Rights Agreement to be
executed and delivered by their duly authorized representatives as of the date first written above. 
  

			
	COMPANY:
	WEWORK INC.
		
	By:	 	 /s/ Jared Dematteis

	Name:	 	Jared Dematteis
	Title:	 	Chief Legal Officer and Secretary

  
 [Signature Page to
A&R Registration Rights Agreement] 

							
	BOWX INVESTORS:	 		 	
			
	BOWX SPONSOR, LLC	 		 	
				
	By:	 	 /s/ Vivek Ranadive
	 		 	
	Name:	 	Vivek Ranadive	 		 	
	Title:	 	Managing Member	 		 	
			
	 /s/ Vivek Ranadive
	 	            	 	 /s/ Vijay Advani

	Vivek Ranadive	 		 	Vijay Advani
			
	 /s/ Murray Rode
	 		 	 /s/ Lori Wright

	Murray Rode	 		 	Lori Wright
			
	 /s/ Eric C. W. Dunn
	 		 	 /s/ Nanci Caldwell

	Eric C. W. Dunn	 		 	Nanci Caldwell
			
	 /s/ Daven Patel
	 		 	 /s/ Rafi Sayed

	Daven Patel	 		 	Rafi Sayed
			
	 /s/ Suraj Patel
	 		 	 /s/ Shaquille O’ Neal

	Suraj Patel	 		 	Shaquille O’ Neal
			
	 /s/ Vishal Sikka
	 		 	 /s/ Christina Dong

	Vishal Sikka	 		 	Christina Dong
			
	 /s/ Ken Goldman
	 		 	
	Ken Goldman	 		 	

  
 [Signature Page to
A&R Registration Rights Agreement] 

			
	BLACKROCK CREDIT ALPHA MASTER FUND L.P.
		
	By:	 	BlackRock Financial Management, Inc., in its capacity as investment advisor
		
	By:	 	 /s/ Christopher Biasotti

	Name:	 	Christopher Biasotti
	Title:	 	Authorized Signatory
	
	HC NCBR FUND
		
	By:	 	BlackRock Financial Management, Inc., in its capacity as investment advisor
		
	By:	 	 /s/ Christopher Biasotti

	Name:	 	Christopher Biasotti
	Title:	 	Authorized Signatory

  
 [Signature Page to
A&R Registration Rights Agreement] 

			
	ANCHOR INVESTORS
	
	SOF-X WW HOLDINGS, L.P.
		
	By:	 	SOF-X WW Holdings GP, L.L.C.
		
	By:	 	 /s/ Timothy Abram

	Name:	 	Timothy Abram
	Title:	 	Senior Vice President
	
	SOF-XI WW HOLDINGS, L.P.
		
	By:	 	SOF-XI WW Holdings GP, L.L.C.
		
	By:	 	 /s/ Timothy Abram

	Name:	 	Timothy Abram
	Title:	 	Senior Vice President

  
 [Signature Page to
A&R Registration Rights Agreement] 

			
	INSIGHT ENTITIES
	
	INSIGHT PARTNERS XII, L.P.
		
	By:	 	 /s/ Andrew Prodromos

	Name:	 	Andrew Prodromos
	Title: 	 	Authorized Officer
	
	INSIGHT PARTNERS XII (CO-INVESTORS), L.P.
		
	By:	 	 /s/ Andrew Prodromos

	Name:	 	Andrew Prodromos
	Title: 	 	Authorized Officer
	
	INSIGHT PARTNERS XII (CO-INVESTORS) (B), L.P.
		
	By:	 	 /s/ Andrew Prodromos

	Name:	 	Andrew Prodromos
	Title: 	 	Authorized Officer
	
	INSIGHT PARTNERS (CAYMAN) XII, L.P.
		
	By:	 	 /s/ Andrew Prodromos

	Name:	 	Andrew Prodromos
	Title: 	 	Authorized Officer

  
 [Signature Page to
A&R Registration Rights Agreement] 

			
	INSIGHT ENTITIES
	
	INSIGHT PARTNERS (DELAWARE) XII, L.P.
		
	By:	 	 /s/ Andrew Prodromos

	Name:	 	Andrew Prodromos
	Title: 	 	Authorized Officer
	
	INSIGHT PARTNERS (EU) XII, S.C. S.P.
		
	By:	 	 /s/ Andrew Prodromos

	Name:	 	Andrew Prodromos
	Title: 	 	Authorized Officer

  
 [Signature Page to
A&R Registration Rights Agreement] 

			
	WINDMILL INVESTORS
	
	BENCHMARK CAPITAL PARTNERS VII (AIV), L.P. as nominee for
	Benchmark Capital Partners VII (AIV), L.P.,
	Benchmark Founders’ Fund VII, L.P. and
	Benchmark Founders’ Fund VII-B, L.P.
		
	By: 	 	Benchmark Capital Management Co. VII, L.L.C., its general partner
		
	By:	 	 /s/ An-Yen Hu

		 	An-Yen Hu, Officer
		
	Address:	 	        2965 Woodside Road
		 	        Woodside, CA 94062

  
 [Signature Page to
A&R Registration Rights Agreement] 

			
	SB WW HOLDINGS (CAYMAN) LIMITED
		
	By:	 	 /s/ Karen Ellerbe

	Name:	 	Karen Ellerbe
	Title: 	 	Director
	
	SVF ENDURANCE (CAYMAN) LIMITED
		
	By:	 	 /s/ Karen Ellerbe

	Name:	 	Karen Ellerbe
	Title: 	 	Director
	
	SVF II WW (DE) LLC
		
	By:	 	 /s/ Matthew Johnson

	Name:	 	Matthew Johnson
	Title: 	 	Director

  
 [Signature Page to
A&R Registration Rights Agreement] 

			
	DAG Ventures V, L.P.
		
	By:	 	 /s/ John Cadeddu

	Name:	 	John Cadeddu
	Title: 	 	Managing Director
	
	DAG Ventures V-QP, L.P.
		
	By:	 	 /s/ John Cadeddu

	Name:	 	John Cadeddu
	Title: 	 	Managing Director

  
 [Signature Page to
A&R Registration Rights Agreement] 

					
	Fidelity Securities Fund: Fidelity OTC Portfolio
			
	By:	  	 /s/ James Wegmann
	  	
	Name:	  	James Wegmann	  	
	Title: 	  	Authorized Signatory	  	
	
	Fidelity Contrafund: Fidelity Advisor New Insights Fund
			
	By:	  	 /s/ James Wegmann
	  	
	Name:	  	James Wegmann	  	
	Title: 	  	Authorized Signatory	  	
		
	Fidelity Contrafund: Fidelity Contrafund	  	
			
	By:	  	 /s/ James Wegmann
	  	
	Name:	  	 James Wegmann
	  	
	Title: 	  	Authorized Signatory	  	
	
	Fidelity Contrafund: Fidelity Series Opportunistic Insights Fund
			
	By:	  	 /s/ James Wegmann
	  	
	Name:	  	James Wegmann	  	
	Title: 	  	Authorized Signatory	  	

					
			
	Fidelity Contrafund: Commingled Pool	  	By:	  	Fidelity Management Trust Company as Trustee

					
	 	  	 	  	 
	By:	  	 /s/ James Wegmann
	  	
	Name:	  	James Wegmann	  	
	Title: 	  	Authorized Signatory	  	

  
 [Signature Page to
A&R Registration Rights Agreement] 

			
	522 Fifth Avenue Fund, L.P.
		
	By: 	 	 /s/ Tyler Jayroe

	Name:	 	Tyler Jayroe
	Title: 	 	Managing Director

  
 [Signature Page to
A&R Registration Rights Agreement] 

			
	National Automatic Sprinkler Industry Pension Fund
		
	By:	 	 /s/ Tyler Jayroe

	Name:	 	Tyler Jayroe
	Title: 	 	Managing Director

  
 [Signature Page to
A&R Registration Rights Agreement] 

			
	PEG Digital Growth Fund II L.P.
		
	By:	 	 /s/ Tyler Jayroe

	Name:	 	Tyler Jayroe
	Title:	 	Managing Director
	
	PEG Digital Global Private Equity Institutional Investors V LLC
		
	By:	 	 /s/ Tyler Jayroe

	Name:	 	Tyler Jayroe
	Title:	 	Managing Director
	
	PEG Secondary Private Equity Investors II L.P.
		
	By:	 	 /s/ Tyler Jayroe

	Name:	 	Tyler Jayroe
	Title:	 	Managing Director
	
	PEG WeWork LLC
		
	By:	 	 /s/ Tyler Jayroe

	Name:	 	Tyler Jayroe
	Title:	 	Managing Director

  
 [Signature Page to
A&R Registration Rights Agreement] 

			
	Red River Venture Capital Fund, L.P.
		
	By:	 	 /s/ Tyler Jayroe

	Name:	 	Tyler Jayroe
	Title:	 	Managing Director

  
 [Signature Page to
A&R Registration Rights Agreement] 

			
	UNITE HERE Retirement Fund
		
	By:	 	 /s/ Tyler Jayroe

	Name:	 	Tyler Jayroe
	Title:	 	Managing Director

  
 [Signature Page to
A&R Registration Rights Agreement] 

			
	Co-Op Retirement Plan Trust
	
	JPMorgan Chase Bank, N.A., solely in its capacity as Trustee
		
	By:	 	 /s/ Kristopher Nickol

	Name:	 	Kristopher Nickol
	Title:	 	Vice President

  
 [Signature Page to
A&R Registration Rights Agreement] 

			
	Benvolio Ventures LLC – Series WeWork
	
	By: Benvolio Group LLC, its Manager
		
	By:	 	 /s/ Ernest Odinec

	Name:	 	Ernest Odinec
	Title:	 	Manager

  
 [Signature Page to
A&R Registration Rights Agreement] 

			
	 Frankfort Family Trust DTD 11/11/2003

		
	 By:
	 	 /s/ Roberta Frankfort

	 Name:
	 	 Roberta Frankfort

	 Title:
	 	 Trustee

  
 [Signature Page to
A&R Registration Rights Agreement] 

			
	Genuine Parts Company Pension Plan
		
	By:	 	Wellington Management Company LLP, as investment adviser
		
	By:	 	 /s/ Valerie N. Tipping

	Name:	 	Valerie N. Tipping
	Title:	 	Counsel and Managing Director

  
 [Signature Page to
A&R Registration Rights Agreement] 

			
	 Global Multi-Strategy Fund

	By:	 	Wellington Management Company LLP, as investment adviser
		
	By:	 	 /s/ Valerie N. Tipping

	Name:	 	Valerie N. Tipping
	Title:	 	Counsel and Managing Director

  
 [Signature Page to
A&R Registration Rights Agreement] 

			
	 Growth Portfolio

	By:	 	Wellington Management Company LLP, as investment adviser
		
	By:	 	 /s/ Valerie N. Tipping

	Name:	 	Valerie N. Tipping
	Title:	 	Counsel and Managing Director

  
 [Signature Page to
A&R Registration Rights Agreement] 

			
	 Hadley Harbor Master Investors (Cayman) L.P.

	By:	 	Wellington Management Company LLP, as investment adviser
		
	By:	 	 /s/ Valerie N. Tipping

	Name:	 	Valerie N. Tipping
	Title:	 	Counsel and Managing Director

  
 [Signature Page to
A&R Registration Rights Agreement] 

			
	The Hartford Capital Appreciation Fund
	By:	 	Wellington Management Company LLP, as investment adviser
		
	By:	 	 /s/ Valerie N. Tipping

	Name:	 	Valerie N. Tipping
	Title:	 	Counsel and Managing Director
	
	The Hartford Growth Opportunities Fund
	By:	 	Wellington Management Company LLP, as investment adviser
		
	By:	 	 /s/ Valerie N. Tipping

	Name:	 	Valerie N. Tipping
	Title:	 	Counsel and Managing Director
	
	Hartford Disciplined Equity HLS Fund
	By:	 	Wellington Management Company LLP, as investment adviser
		
	By:	 	 /s/ Valerie N. Tipping

	Name:	 	Valerie N. Tipping
	Title:	 	Counsel and Managing Director
	
	Hartford International Equity Fund
	By:	 	Wellington Management Company LLP, as investment adviser
		
	By:	 	 /s/ Valerie N. Tipping

	Name:	 	Valerie N. Tipping
	Title:	 	Counsel and Managing Director

  
 [Signature Page to
A&R Registration Rights Agreement] 

			
	Mid Cap Stock Fund
	By:	 	Wellington Management Company LLP, as investment adviser
		
	By:	 	 /s/ Valerie N. Tipping

	Name:	 	Valerie N. Tipping
	Title:	 	Counsel and Managing Director

  
 [Signature Page to
A&R Registration Rights Agreement] 

			
	John Hancock Variable Insurance Trust – Mid Cap Stock Trust
	By:	 	Wellington Management Company LLP, as investment adviser
		
	By:	 	 /s/ Valerie N. Tipping

	Name:	 	Valerie N. Tipping
	Title:	 	Counsel and Managing Director

  
 [Signature Page to
A&R Registration Rights Agreement] 

			
	Treasurer of the State of North Carolina
	By:	 	Wellington Management Company LLP, as investment adviser
		
	By:	 	 /s/ Valerie N. Tipping

	Name:	 	Valerie N. Tipping
	Title:	 	Counsel and Managing Director

  
 [Signature Page to
A&R Registration Rights Agreement] 

			
	Vanguard U.S. Growth Fund
	By:	 	Wellington Management Company LLP, as investment adviser
		
	By:	 	 /s/ Valerie N. Tipping

	Name:	 	Valerie N. Tipping
	Title:	 	Counsel and Managing Director

  
 [Signature Page to
A&R Registration Rights Agreement] 

			
	Empire Star Global Limited
		
	By:	 	 /s/ Authorized Person

	Name:	 	
	Title:	 	Authorized Person

  
 [Signature Page to
A&R Registration Rights Agreement]EX-10.2

 Exhibit 10.2 

EXECUTION VERSION 

STOCKHOLDERS AGREEMENT 

This STOCKHOLDERS AGREEMENT (this “Agreement”) is made and entered into as of October 20, 2021, by and among
(i) WeWork Inc., a Delaware corporation (formerly known as BowX Acquisition Corp) (the “Company”), (ii) BowX Sponsor, LLC, a Delaware limited liability company (“BowX Investor”), (iii) SB WW Holdings (Cayman)
Limited (“SB Investor”), (iv) SVF Endurance (Cayman) Limited (“VF Investor”), (v) Benchmark Capital Partners VII (AIV), L.P. (“Benchmark Investor” and, together with BowX Investor, SB Investor and
VF Investor, each a “Stockholder” and collectively, the “Stockholders”). Each capitalized term used and not otherwise defined herein shall have the meaning assigned to such term in the Merger Agreement (as defined
below). 
 WHEREAS, BowX Investor is the holder of certain shares of the Company’s Class A common stock, par value $0.0001 per
share (the “Class A Common Stock” or the “Common Stock”), and certain warrants to acquire shares of Class A Common Stock; 

WHEREAS, as a result of the transactions contemplated by that certain Agreement and Plan of Merger, dated March 25, 2021, by and among
the Company and certain other persons named therein and party thereto (as it may be amended in accordance with its terms, the “Merger Agreement”), each of the Stockholders other than BowX Investor are receiving shares of
Class A Common Stock; and 
 WHEREAS, in connection with the transactions contemplated by the Merger Agreement, the Company and the
Stockholders desire to set forth certain understandings among them, including with respect to certain governance matters. 
 NOW, THEREFORE,
in consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties to this Agreement hereby agree as follows: 

ARTICLE I 

REPRESENTATIONS AND WARRANTIES OF THE PARTIES 

Each party hereby represents and warrants to the other parties and acknowledges that: (a) the execution, delivery and performance of this
Agreement have been duly authorized by such party and do not require such party to obtain any consent or approval that has not been obtained and do not contravene or result in a default under any provision of any law or regulation applicable to such
party or other Governing Documents or any agreement or instrument to which such party is a party or by which such party is bound; (b) such party has the power and authority to enter into this Agreement and to carry out its obligations
hereunder; and (c) this Agreement is valid, binding and enforceable against such party in accordance with its terms. 

 ARTICLE II 

BOARD OF DIRECTORS; OBSERVERS; VOTING AGREEMENT 

Section 2.1 Initial Board Composition. As of the date of this Agreement, the authorized number of directors on the board of
directors of the Company (the “Board”) is nine (9). The initial composition of the Board shall be as follows: 
 (a) three
directors designated by the SB Investor, who initially shall be: Véronique Laury, Michel Combes, and Marcelo Claure, who shall initially serve as Executive Chairman; 

(b) one director designated by the VF Investor, who initially shall be Kirthiga Reddy; 

(c) one director designated by the Benchmark Investor, who initially shall be Bruce Dunlevie; 

(d) one director designated by Insight Partners (the “Insight Investor”), who initially shall be Deven Parekh; 

(e) one director designated by the BowX Investor, who initially shall be Vivek Ranadivé; 

(f) the Chief Executive Officer of the Company, who initially shall be Sandeep Mathrani; and 

(g) Jeff Sine. 

Section 2.2 SB Investor Director Designations. Until such time as the SB Investor Transfers (other than to a Permitted Transferee)
a number of shares of Class A Common Stock representing at least 50% of the outstanding shares of Class A Common Stock held by the SB Investor as of the Closing, the SB Investor shall have the right to designate for nomination by the Board
(or a nominating committee thereof) three candidates for election to the Board. After such time as the SB Investor has Transferred (other than to a Permitted Transferee) a number of shares of Class A Common Stock representing at least 50% of
the outstanding shares of Class A Common Stock held by the SB Investor as of the Closing, for so long as the SB Investor and the Permitted Transferees of the SB Investor, in the aggregate, hold a number of shares representing at least the
percentage of the combined outstanding shares of Class A Common Stock and Class C Common Stock shown below, the SB Investor shall have the right to designate for nomination by the Board (or a nominating committee thereof) a number of
candidates for election to the Board that, if elected, would result in SB Investor having nominated the number of directors serving on the Board that is shown below (any person nominated by the SB Investor pursuant to this
Section 2.2, an “SB Investor Nominee”). 

  
 2 

					
	 	  	 	 
	 Percentage of Outstanding Class A

and Class C Common Stock
	  	Number of
SB Investor
Directors	 
	 25% or greater
	  	 	3	 
	 Less than 25% but greater than or equal to 15%
	  	 	2	 
	 Less than 15% but greater than or equal to 1%
	  	 	1	 
	 Less than 1%
	  	 	0	 

 Section 2.3 Other Investor Director Designations. Until such time as a Stockholder (other than the
SB Investor) or the Insight Investor Transfers (other than to a Permitted Transferee) a number of shares of Class A Common Stock representing at least 50% of the outstanding shares of Class A Common Stock held, as applicable, by such
Stockholder or the Insight Investor as of the Closing, such Stockholder or the Insight Investor, as applicable, shall have the right to designate for nomination by the Board (or a nominating committee thereof) one candidate for election to the Board
(each, a “Stockholder Nominee”). Notwithstanding anything in the immediately preceding sentence to the contrary, if the VF Investor loses such designation right, effective immediately upon such loss, so long as the SB Investor and
the Permitted Transferees of the SB Investor, in the aggregate, hold a number of shares representing at least 1% of the outstanding shares of Class A Common Stock and Class C Common Stock, the SB Investor shall have the right to designate
for nomination by the Board (or a nominating committee thereof) an additional candidate in addition to the candidates set forth in Section 2.2.  

Section 2.4 Company Actions.  

(a) To the extent such action is consistent with the fiduciary duties of the Board (or a nominating committee thereof), the Company agrees to
include in the slate of nominees recommended by the Board those SB Investor Nominees and Stockholder Nominees designated by the Stockholders in accordance with the terms hereof and to include such persons in the Company’s proxy materials and
form of proxy disseminated to stockholders of the Company in connection with the election of directors (including at any special meeting of stockholders held for the election of directors). Each of the Stockholders shall include in its written
communication of designation to the Board (or a nominating committee thereof), which shall be delivered no later than 15 days prior to the Board or nominating committee meeting to consider a slate of director nominees, (x) director biographies
in customary form and (y) reasonably detailed information regarding the independence of each such nominee intended to qualify as independent. To the extent such action is consistent with the fiduciary duties of the Board (or a nominating
committee thereof), the Company shall use its reasonable best efforts to cause the election of each such designee to the Board, including nominating such designees to be elected as directors and by soliciting proxies in favor of the election of such
persons. 
 (b) In the event that at any time the number of directors entitled to be designated by a Stockholder pursuant to Sections
2.2 or 2.3 decreases, such Stockholder and the Company shall take reasonable actions to cause a sufficient number of designated directors to resign from the Board at or prior to the end of such designated director’s term (as may be
determined by the Company’s nominating and corporate governance committee) such that the number of directors designated by such Stockholder after such resignation(s) equals the number of directors such Stockholder is then-entitled to designate
pursuant to Sections 2.2 and 2.3 (as applicable). Subject to Section 2.8(b), any vacancies created by such resignation may remain 

  
 3 

 vacant until the next annual meeting of stockholders or may be filled by a majority vote of the Board or a
committee thereof in accordance with Section 2.8(b). Notwithstanding the foregoing, such designated director(s) need not resign from the Board at or prior to the end of such 

director’s term if the Company’s nominating and corporate governance committee recommends the nomination of such director(s) for election at the next
annual meeting coinciding with the end of such director’s term, or otherwise (and upon such election, such director shall no longer be considered a designee of the applicable Stockholder). 

Section 2.5 Director Independence. During the term of this Agreement, the majority of the directors comprising the Board shall
qualify as “independent” under all Applicable Regulations (collectively, “Independent”). If the Board (or a nominating committee thereof) in the exercise of its reasonable business judgment reasonably determines that any
individual designated by a Stockholder as Independent is not Independent, the Board shall promptly notify such Stockholder of such determination and such Stockholder will be entitled to designate a replacement Independent individual for nomination.
The Stockholders acknowledge and agree that the SB Investor shall never be required to designate for nomination more than one candidate for election to the Board that qualifies as Independent. Any director designated for nomination by the Insight
Investor shall be required at all times to be Independent. 
 Section 2.6 Employee Directors. For so long as the Company has a
duly appointed and acting Chief Executive Officer as a named executive officer, the Company shall take all Necessary Action to include such Chief Executive Officer in the slate of nominees recommended by the Board for election as directors at each
applicable annual or special meeting of 
 stockholders at which directors are to be elected. 

Section 2.7 Committee Representation. Subject to Applicable Regulations (including with respect to Independent director
representation on Board committees), SB Investor shall have the right to have a pro rata number of SB Investor Nominees (rounded to the nearest whole number, but in any event not less than one (1)) appointed to serve on each committee of the
Board for so long as SB Investor has the right to designate at least one (1) director for election to the Board. (For example, if SB Investor then has the right to nominate three (3) persons to a board of directors of nine (9) persons
(i.e., 33%), and a committee of three (3) persons is established, one (1) committee member shall be a SB Investor Director). Notwithstanding the foregoing, if there shall ever be a committee of less than two (2) directors established,
no SB Investor designated director shall serve on such committee. 
 Section 2.8 Vacancies and Removal. 

(a) Except as provided for in Section 2.1 and Section 2.2, and to the extent not
inconsistent with Section 141(k) of the General Corporation Law of the State of Delaware and the Company’s Governing Documents: (a) each Stockholder shall have the exclusive right to instruct that its respective nominated director(s)
be removed from the Board, and the Board and each Stockholder shall take all Necessary Action to cause the removal of any of the directors nominated by a Stockholder at the instruction of such Stockholder; and (b) each Stockholder shall have
the exclusive right to nominate for appointment or nomination by the Board candidates to fill vacancies created by reason of death, removal or resignation of the applicable SB Investor Nominee or Stockholder Nominee, as applicable, and the Board and
the Stockholders shall take all Necessary Action to cause any such vacancies to be filled by replacement candidates nominated by the applicable stockholder (consistent with the other provisions of this Agreement) as promptly as reasonably
practicable. 

  
 4 

 (b) Notwithstanding Section 2.7, at any time that the voting
restrictions set forth in Article V, Part A, Section 7 of the Charter remain in effect, if a vacancy on the Board arises by reason of the death, removal or resignation of a director (x) who was not nominated by any of the
Stockholders pursuant to Section 2.2 or Section 2.3 or (y) pursuant to the first sentence of Section 2.4(b), then a committee of the Board shall be created consisting
of all of the directors other than any directors designated by the SB Investor or the VF Investor, and any such vacancy shall be filled as promptly as practicable by a majority vote of such committee. 

(c) To the extent not inconsistent with Section 141(k) of the General Corporation Law of the State of Delaware and the Company’s
Governing Documents, in the event the director initially identified in Section 2.1(g) is no longer then-serving as a director by reason of death, removal, resignation or otherwise, the Board and the Stockholders shall take
all Necessary Action to cause any such vacancy to be filled by a replacement candidate approved and nominated by the Stockholders based on a majority vote of shares of Common Stock held by the Stockholders; provided, however, that if
at such time the voting restrictions set forth in Article V, Part A, Section 7 of the Charter remain in effect, then the shares held by the SB Investor shall remain subject to such provision of the Charter (i.e., SB Investor and VF
Investor, together, cannot exercise more than 49.9% voting power in such approval and nomination). 
 (d) If upon any event or for any
reason, the directors designated by the SB Investor and the VF Investor would comprise more than half of the directors then in office, then, effective immediately prior to such event (a “Resignation Event”), a sufficient number of
the SB Investor designated directors shall be deemed to have resigned from the Board so that the directors designated by the SB Investor and the VF Investor would not comprise more than half of the directors then in office. For the avoidance of
doubt, this Section 2.8(d) shall not be interpreted as restricting any of the SB Investor’s or the VF Investor’s rights under this Agreement, including, without limitation, Section 2.2,
Section 2.3 and Section 2.8(a).  
 Section 2.9 Board Observer Rights.
Until such time as SOF-X WW Holdings, L.P. and SOF-XI WW Holdings, L.P. (together, “Starwood Investors”) Transfer (other than to a Permitted Transferee)
a number of shares of Class A Common Stock representing at least 50% of the aggregate outstanding shares of Class A Common Stock held by Starwood Investors as of the Closing, the Company will permit an individual designated in writing by
Starwood Investors from time to time (each, an “Observer”) to attend meetings of the Board and of any committee thereof as a non-voting observer, and will give such individual notice of such
meetings at the same time and in the same manner as notice to the directors or advisory board members. Observer shall be entitled to concurrent receipt of any materials provided to the Board or any committee thereof, provided, however,
that such Observer shall agree to hold in confidence and trust all information so provided; provided further, however, that the Company reserves the right to withhold any materials and to exclude such Observer from any meeting or
portion thereof if access to such materials or attendance at such meeting could adversely affect the attorney-client privilege between the Company and its counsel or result in disclosure of trade secrets or a conflict of interest, or if Starwood
Investors or their representative is a competitor of the Company. 

  
 5 

 Section 2.10 Board Meeting Expenses. The Company shall pay all reasonable and
documented out-of-pocket costs and expenses (including, but not limited to, travel and lodging) incurred by each member of the Board, and by each Observer (if any),
incurred in the course of his or her service hereunder, including in connection with attending regular and special meetings of the Board, any board of directors or board of managers of each of the Company’s subsidiaries and/or any of their
respective committees. 
 Section 2.11 Voting Agreement. Subject to Section 2.12, each Stockholder
hereby agrees to vote, or cause to be voted, all shares of Common Stock owned beneficially or of record by such Stockholder, or over which such Stockholder maintains voting control, directly or indirectly, in such manner as may be necessary or
advisable in support of, or to implement, maintain, or protect the various matters set forth in, and the intent of, this Article II (including without limitation the maintenance of a number of authorized directors and the election or removal
of designated nominees), whether at an annual or special meeting of stockholders of the Company or pursuant to any written consent of the stockholders of the Company. Notwithstanding anything in this Agreement to the contrary, at any time the voting
restrictions set forth in Article V, Part A, Section 7 of the Charter remain in effect, any shares of Common Stock subject to the Subject Shares Proxy shall be voted in accordance with the Charter. 

Section 2.12 Proxy. Except as otherwise set forth in Section 2.8(c), solely with respect to the election
of directors to the Board and as set forth in clause (y) below, each of the SB Investor and the VF Investor hereby irrevocably appoints the WW Executive (as defined in the Charter) as its attorney and proxy, to the full extent of its voting
rights with respect to its shares (“Remaining Shares”) of Common Stock, other than Subject Shares (as defined in the Charter), (x) except as set forth in the following clause (y), to vote all Remaining Shares in accordance with
Section 2.11 and (y) in connection with a stockholder vote to remove any director from the Board who has not been designated by a Stockholder pursuant to Section 2.2 or
Section 2.3, to vote all Remaining Shares in proportion to the votes cast by the stockholders of the Company (other than the SB Investor and the VF Investor) in such stockholder vote. For the avoidance of doubt, the SB
Investor and the VF Investor retain all economic and all other non-voting rights, powers and preferences in their respective Remaining Shares, including voting rights on matters unrelated to those described in
the foregoing sentence. The proxy granted under this Section 2.12 shall automatically terminate when the voting restrictions set forth in Article V, Part A, Section 7 of the Charter are no longer in effect. 

ARTICLE III 
 TERM
AND TERMINATION 
 Section 3.1 Term. This Agreement shall terminate, and be of no further force and effect: 

(a) upon the mutual consent of all parties hereto; or 

  
 6 

 (b) with respect to any Stockholder, upon the time that such Stockholder is no longer
entitled to nominate at least one (1) director (or in the case of Starwood Investors, an observer) pursuant to Article II hereof. 

Section 3.2 Effect of Termination. If this Agreement is terminated pursuant to Section 3.1(a) hereof,
this Agreement shall become void and of no further force and effect, except for: (i) the provisions set forth in this Section 3.2 and in Article V; and (ii) the rights with respect to the breach of any
provision hereof by the Company. 
 ARTICLE IV 

DEFINITIONS 

“Affiliate” has the meaning set forth in Rule 12b-2 of the General Rules and
Regulations under the Securities Exchange Act of 1934, as amended. 
 “Applicable Regulations” means applicable laws and
national securities exchange regulations that apply to the Company. 
 “Business Day” means a day other than a Saturday,
Sunday or other day on which commercial banks in New York City, New York are authorized or required by law to close. 
 “Governing
Documents” with respect to the Company and any of its subsidiaries, means, collectively, certificate of incorporation, certificate of formation, bylaws, operating agreement or similar governing documents. 

“Necessary Action” means, with respect to a specified result, all actions, to the fullest extent permitted by applicable law
and, in the case of any action by the Company that requires a vote or other action on the part of the Board, to the extent such action is consistent with the fiduciary duties of the Board, necessary to cause such result, including, without
limitation: (a) voting or providing a written consent or proxy with respect to the Common Stock; (b) causing the adoption of amendments to the Governing Documents; (c) executing agreements and instruments; and (d) making, or
causing to be made, with governmental, administrative or regulatory authorities, all filings, registrations or similar actions that are required to achieve such result. 

“Person” means any individual, firm, corporation, partnership, limited liability company, incorporated or unincorporated
association, joint venture, joint stock company, governmental authority or instrumentality or other entity of any kind. 

“Charter” means the Company’s Second Amended and Restated Certificate of Incorporation, as amended. 

“Transfer” means, with respect to any securities, to sell, assign, transfer or otherwise dispose of such securities. 

  
 7 

 ARTICLE V 

MISCELLANEOUS 

Section 5.1 Amendment and Waiver. This Agreement may be amended by the parties at any time by execution of an instrument in
writing signed by the Company and the Stockholders holding at least two-thirds (2/3) of the shares of Common Stock subject to this Agreement; provided, however, that (x) no amendment shall
adversely affect the rights of a Stockholder in a manner disproportionate to any other Stockholder (unless consented to by such Stockholder), and (y) if at such time the voting restrictions set forth in Article V, Part A, Section 7
of the Charter remain in effect, then the shares held by the SB Investor shall remain subject to such provision of the Charter (i.e., SB Investor and VF Investor, together, cannot exercise more than 49.9% voting power in connection with any proposed
amendment). Notwithstanding the foregoing, Section 2.1 and Section 2.9 may only be amended as follows: (i) Section 2.1(a) may only be amended with the express written
consent of SB Investor, (ii) Section 2.1(b) may only be amended with the express written consent of VF Investor, (iii) Section 2.1(c) may only be amended with the express written consent
of Benchmark Investor, and (iv) Section 2.1(e) may only be amended with the express written consent of BowX Investor; provided that a provision for which a specific Stockholder is no longer entitled to rights
thereunder shall not require any consent of such Stockholder with respect to amending or modifying such provision. In the event any Applicable Regulations come into force or effect (including by amendment), including any applicable rules of a
national securities exchange upon which the Class A Common Stock is registered, or of the Securities and Exchange Commission, which conflicts with the terms and conditions of this Agreement, the parties shall negotiate in good faith to revise
this Agreement to achieve the parties’ intention set forth herein. 
 Section 5.2 Severability. In the event that any term,
provision, covenant or restriction of this Agreement, or the application thereof, is held to be illegal, invalid or unenforceable under any present or future applicable law: (a) such provision will be fully severable; (b) this Agreement
will be construed and enforced as if such illegal, invalid or unenforceable provision had never comprised a part hereof; (c) the remaining provisions of this Agreement will remain in full force and effect and will not be affected by the
illegal, invalid or unenforceable provision or by its severance herefrom; and (d) in lieu of such illegal, invalid or unenforceable provision, there will be added automatically as a part of this Agreement a legal, valid and enforceable
provision as similar in terms of such illegal, invalid or unenforceable provision as may be possible. 
 Section 5.3 Entire
Agreement. Except as otherwise expressly set forth herein, this document and the documents referenced herein and therein embody the complete agreement and understanding among the parties hereto with respect to the subject matter hereof and
supersede and preempt any prior understandings, agreements or representations by or among the parties hereto, written or oral, which may have related to the subject matter hereof in any way. The parties hereto acknowledge and agree that:
(i) the Insight Investor shall be a third-party beneficiary of Section 2.3; (ii) the Starwood Investors shall be a third-party beneficiary of Section 2.3; (iii)
Section 2.1(d) may only be amended with the express written consent of the Insight Investor; and (iv) Section 2.9 may only be amended with the express written consent of the Starwood
Investors; provided that the third-party beneficiary and consent rights granted under this Section 5.3 shall terminate (x) in respect of the Insight Investor, when it no longer has the right to designate a
member of the Board pursuant to Section 2.1(d), and (y) in respect of the Starwood Investors, when they no longer have the right to designate an Observer pursuant to Section 2.9.  

  
 8 

 Section 5.4 Transfers; Successors and Assigns.  

(a) If a Stockholder effects any Transfer of shares of Common Stock to any Affiliate of such Stockholder (or to any executive officer or
director of such Stockholder or of such Stockholder’s Affiliates) (each, a “Permitted Transferee”) or any other Person approved by the Company in its sole and absolute discretion, such Permitted Transferee shall, if not a
Stockholder, within five (5) days of such Transfer execute an agreement stating that the transferee is receiving and holding the securities subject to the provisions of this Agreement and that such Permitted Transferee agrees to be a
“Stockholder” for all purposes of this Agreement, and which provides that such Permitted Transferee shall be bound by and shall fully comply with the terms of this Agreement. If a Stockholder effects any Transfer of shares of Common
Stock to any Person that is not a Permitted Transferee, such Person shall not become a “Stockholder” hereunder, and shall have no rights or obligations hereunder. 

(b) Except as otherwise provided herein, this Agreement shall bind and inure to the benefit of and be enforceable by the Company and its
successors and assigns, and each Stockholder and its respective successors and assigns, so long as such Persons hold Common Stock. No Stockholder may assign any of its rights hereunder to any Person other than a Permitted Transferee. Each Permitted
Transferee of any Stockholder shall be subject to all of the terms of this Agreement, and by taking and holding such shares such Person shall be entitled to receive the benefits of and be conclusively deemed to have agreed to be bound by and to
comply with all of the terms and provisions of this Agreement; provided, however, no transfer of rights permitted hereunder shall be binding upon or obligate the Company unless and until if required under
Section 5.4(a), the Company shall have received written notice of such transfer and the written agreement of the transferee provided for in Section 5.4(a). Notwithstanding the foregoing, no
successor or assignee of the Company shall have any rights granted under this Agreement until such Person shall acknowledge its rights and obligations hereunder by a signed written statement of such Person’s acceptance of such rights and
obligations. 
 Section 5.5 Counterparts. This Agreement may be executed in separate counterparts each of which shall be an
original and all of which taken together shall constitute one and the same agreement. 
 Section 5.6 Remedies. The parties
hereto agree and acknowledge that money damages are not an adequate remedy for any breach of the provisions of this Agreement and that the Company and each Stockholder shall have the right to injunctive relief or specific performance, in addition to
all of its rights and remedies at law or in equity, to enforce the provisions of this Agreement. Nothing contained in this Agreement shall be construed to confer upon any person who is not a signatory hereto any rights or benefits, as a third party
beneficiary or otherwise. Each of the parties hereto shall pay their own fees and expenses, including their own counsel fees, incurred in connection with this Agreement; provided, that a Stockholder that incurs fees and expenses in
successfully enforcing its rights under this Agreement against the Company shall be entitled to award or reimbursement of such fees and expenses to the extent documented and reasonably incurred. 

  
 9 

 Section 5.7 Notices. All notices and other communications hereunder shall be in
writing and shall be deemed given: (a) on the date established by the sender as having been delivered personally; (b) one Business Day after being sent by a nationally recognized overnight courier guaranteeing overnight delivery;
(c) on the date delivered, if delivered by email, with confirmation of transmission; or (d) on the fifth Business Day after the date mailed, by certified or registered mail, return receipt requested, postage prepaid. Such communications,
to be valid, must be addressed as follows: 
 If to the Company: 

WeWork Inc. 
 575 Lexington
Avenue 
 New York, NY 10022 

Attention: Chief Legal Officer 

Email: legal@wework.com  

If to a Stockholder: 
 To such
Stockholder as set forth on Schedule I. 
 or to such other address or to the attention of such Person or Persons as the recipient party has
specified by prior written notice to the sending party (or in the case of counsel, to such other readily ascertainable business address as such counsel may hereafter maintain). If more than one method for sending notice as set forth above is used,
the earliest notice date established as set forth above shall control. 
 Section 5.8 Governing Law. This Agreement and any
action, suit, dispute, controversy or claim arising out of this Agreement or the validity, interpretation, breach or termination of this Agreement shall be governed by and construed in accordance with the internal law of the State of Delaware
regardless of the law that might otherwise govern under applicable principles of conflicts of law thereof. 
 Section 5.9 CONSENT TO
JURISDICTION AND SERVICE OF PROCESS; WAIVER OF JURY TRIAL. THE PARTIES TO THIS AGREEMENT SUBMIT TO THE EXCLUSIVE JURISDICTION OF THE COURT OF CHANCERY OF THE STATE OF DELAWARE, OR IF SUCH COURT SHALL NOT HAVE JURISDICTION, ANY STATE OR FEDERAL
COURT LOCATED IN THE STATE OF DELAWARE (AND ANY APPROPRIATE APPELLATE COURT THEREFROM) (THE “DELAWARE COURTS”) IN RESPECT OF THE INTERPRETATION AND ENFORCEMENT OF THE PROVISIONS OF THIS AGREEMENT AND ANY RELATED AGREEMENT,
CERTIFICATE OR OTHER DOCUMENT DELIVERED IN CONNECTION HEREWITH AND BY THIS AGREEMENT WAIVE, AND AGREE NOT TO ASSERT, ANY DEFENSE IN ANY ACTION FOR THE INTERPRETATION OR ENFORCEMENT OF THIS AGREEMENT AND ANY RELATED AGREEMENT, CERTIFICATE OR OTHER
DOCUMENT DELIVERED IN CONNECTION HEREWITH, THAT THEY ARE NOT SUBJECT THERETO OR THAT SUCH ACTION 

  
 10 

 
MAY NOT BE BROUGHT OR IS NOT MAINTAINABLE IN THE APPLICABLE DELAWARE COURT OR THAT THIS AGREEMENT MAY NOT BE ENFORCED IN OR BY THE APPLICABLE DELAWARE COURT OR THAT THEIR PROPERTY IS EXEMPT OR
IMMUNE FROM EXECUTION, THAT THE ACTION IS BROUGHT IN AN INCONVENIENT FORUM, OR THAT THE VENUE OF THE ACTION IS IMPROPER. SERVICE OF PROCESS WITH RESPECT THERETO MAY BE MADE UPON ANY PARTY TO THIS AGREEMENT BY MAILING A COPY THEREOF BY REGISTERED OR
CERTIFIED MAIL, POSTAGE PREPAID, TO SUCH PARTY AT ITS ADDRESS AS PROVIDED IN SECTION 5.7.  
 Section 5.10 WAIVER OF
TRIAL BY JURY. EACH PARTY HERETO HEREBY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH SUCH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY
WAIVES ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT
(I) NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER, (II) EACH SUCH PARTY UNDERSTANDS AND
HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER, (III) EACH SUCH PARTY MAKES THIS WAIVER VOLUNTARILY, AND (IV) EACH SUCH PARTY HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN
THIS SECTION 5.10.  
 Section 5.11 Descriptive Headings. The descriptive headings of this Agreement are inserted
for convenience only and do not constitute a part of this Agreement. 
 [remainder of page intentionally left blank] 

  
 11 

 IN WITNESS WHEREOF, the undersigned have duly executed this Agreement as of the date first
written above. 
 THE COMPANY:     

WeWork Inc.     
  

			
	By:	 	 /s/ Jared Dematteis

	Name:	 	Jared Dematteis
	Title:	 	Chief Legal Officer and Secretary

 [Signature Page to Stockholders Agreement] 

 IN WITNESS WHEREOF, the undersigned have duly executed this Agreement as of the date first
written above. 
 BOWX INVESTOR:     

BowX Sponsor, LLC.     
  

			
	By:	 	 /s/ Vivek Ranadive

	Name:	 	Vivek Ranadive
	Title:	 	Managing Member

 [Signature Page to Stockholders Agreement] 

 SB INVESTOR 

SB WW HOLDINGS (CAYMAN) LIMITED 
  

			
	By:	 	 /s/ Karen Ellerbe

	Name:	 	Karen Ellerbe
	Title:	 	Director

 [Signature Page to Stockholders Agreement] 

 VISION FUND INVESTOR 

SVF ENDURANCE (CAYMAN) LIMITED 
  

			
	By:	 	 /s/ Karen Ellerbe

	Name:	 	Karen Ellerbe
	Title:	 	Director

 [Signature Page to Stockholders Agreement] 

 BENCHMARK INVESTOR 
  

			
	BENCHMARK CAPITAL PARTNERS VII (AIV), L.P.
	as nominee for
	Benchmark Capital Partners VII (AIV), L.P.,
	Benchmark Founders’ Fund VII, L.P. and
	Benchmark Founders’ Fund VII-B, L.P.
		
	By:	 	Benchmark Capital Management Co. VII, L.L.C.,
		 	its general partner

  

			
	By:	 	 /s/ An-Yen Hu

		 	An-Yen Hu, Officer

  

			
	Address:	 	2965 Woodside Road
		 	Woodside, CA 94062

 [Signature Page to Stockholders Agreement] 

 Schedule I 

BowX Investor 
 BowX Sponsor LLC 

c/o BowX Acquisition Corp. 
 2400 Sand Hill Road Suite 200 

Menlo Park, CA 94025 
 SB Investor 

SB WW Holdings (Cayman) Limited 
 Walkers Corporate Limited 

190 Elgin Avenue, George Town, Grand Cayman 
 KY1-9008 Cayman Islands 
 Attention: SoftBank Legal 

Email: Legal@softbank.com  
 VF Investor 

SVF Endurance (Cayman) Limited 
 Walkers Corporate Limited 

190 Elgin Avenue, George Town, Grand Cayman 
 KY1-9008 Cayman Islands 
 Attention: SoftBank Legal 

Email: Legal@softbank.com  
 Benchmark Investor

 Benchmark Capital Partners VII (AIV), L.P. 
 2965
Woodside Road 
 Woodside, CA 94062 
 Attention: An-Yen Hu 
 [Signature Page to Stockholders Agreement]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00335-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00335-of-00352.parquet"}]]