Document:

FIRST AMENDMENT TO EMPLOYMENT LETTER AGREEMENT
AND

EMPLOYEE PROPRIETARY INFORMATION AND INVENTIONS
AGREEMENT

 

This First Amendment to
Employment Letter Agreement and Employee Proprietary Information and Inventions Agreement (this “Amendment”)
is dated January 1, 2017, and amends that certain letter agreement (the “Employment Agreement”)
dated ___________, 2014, between Ironclad Performance Wear Corporation (the “Company”) and ________________
(the “Executive”), and that certain Employee Proprietary Information and Inventions Agreement dated
___________, 2014, between the Company and Executive (the “PIIA”). Capitalized terms used herein without
definition shall have the meanings ascribed to such terms in the Employment Agreement or the PIIA, as applicable.

 

WHEREAS, the parties desire
to amend the Employment Agreement to revise the severance provisions thereunder as set forth herein;

 

WHEREAS, the parties desire
to amend the PIIA to change the controlling law and to provide for an extended non-compete covenant as set forth herein;

 

WHEREAS, pursuant to Section
10 of the Employment Agreement the Employment Agreement may not be amended or modified except by an express written agreement
signed by Executive and a duly authorized officer of the Company; and

 

WHEREAS, pursuant to Section
22 of the PIIA, the PIIA may only be modified by a subsequent written agreement or subsequent written amendment to the PIIA executed
by an officer of the Company.

 

NOW THEREFORE, for good
and valuable consideration the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows:

 

1.                 
Section 6 of the Employment Agreement is hereby amended in its entirety to read as follows:

 

“6.Period
of Employment. Your employment with the Company will be “at will,” meaning that either you or the Company will
be entitled to terminate your employment at any time and for any reason, with or without cause. Any contrary representations which
may have been made to you are superseded by this offer.

 

Notwithstanding the foregoing,
in the event your employment is terminated:

 

		(A)	Within
                                         9 months following the Sale of the Company (as defined below) (i) by the Company other
                                         than for Cause (as defined below) or (ii) by you for Good Reason (as defined below),
                                         the Company shall (1) pay in a lump sum payment 2 times your then-current base salary,
                                         such payment to be made within 20 days following the termination date, and (2) to the
                                         extent you are eligible and elect continuation coverage pursuant to the Consolidated
                                         Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”)
                                         under a health, dental, or vision plan sponsored by the Company, within the time period
                                         prescribed pursuant to COBRA, reimburse you, as and when due to the COBRA carrier, for
                                         the COBRA premiums for such coverage (at the coverage levels in effect immediately prior
                                         to your termination of employment) until the earliest to occur of (a) a period of twenty-four
                                         (24) months following the effective date of such termination, (b) the date upon which
                                         you become eligible for coverage under a health, dental, or vision insurance plan of
                                         a subsequent employer and (c) the date you cease to be eligible for COBRA coverage; or

 

		(B)	At
                                         any other time during the term of your employment, the Company shall continue to pay
                                         your then-current base salary for a period of six (6) months following the effective
                                         date of such termination.

 

This is the full and complete agreement
between you and the Company on this term.

 

Although your job duties,
title, compensation and benefits, as well as the Company’s personnel policies and procedures, may change from time to time,
the “at will” nature of your employment may only be changed in an express written agreement signed by you and a duly
authorized officer of the Company.

 

    	 	

	 

    	 

    

It is intended that the
provisions of this letter agreement comply with Section 409A of the Internal Revenue Code and the regulations and guidance promulgated
thereunder (collectively, “Code Section 409A”), and all provisions of this letter agreement shall be
construed in a manner consistent with the requirements for avoiding taxes or penalties under Code Section 409A. Notwithstanding
the foregoing, Company shall have no liability with regard to any failure to comply with Code Section 409A so long as it has acted
in good faith with regard to compliance therewith.

 

For purposes of this letter agreement, “Cause”
means (i) a material breach of any provision of any written agreement between you and the Company after notice to you of the particular
details thereof and a period of 30 days thereafter within which to cure such breach and your failure to cure such breach within
such 30-day period; (ii) conviction of, or a plea of nolo contendere for, any felony criminal offense or any offense involving
dishonesty or moral turpitude; (iii) engaging in dishonest or fraudulent activities which are injurious to Company; (iv) refusal
to follow any lawful directives of the Board; (v) gross negligence or incompetence or willful misconduct which is injurious to
the Company; or (vi) breach of fiduciary duty to the Company which involves a material personal profit.

 

For purposes of this letter agreement, “Sale
of the Company” shall be defined as any sale of the Company to an unaffiliated third party buyer or any “going
private” transaction or private equity investment or purchase of equity interests in the Company that results in a change
in the beneficial ownership of securities of the Company of more than fifty percent (50%) of the total combined voting power of
all outstanding securities of the Company.

 

For purposes of this letter agreement, “Good
Reason” shall be defined as (i) a change in your reporting structure or change in your responsibilities or obligations
that is materially inconsistent with your then existing responsibilities and obligations, without your prior written consent;
(ii) any reduction in the base salary, unless such reduction is agreed to by you in writing; (iii) without limiting the generality
of the forgoing, any material breach by the Company of this letter agreement; or (iv) the relocation by the Company of its principal
Corporate office from within 40 miles of Dallas, Texas.”

 

2.                 
Section 10 of the Employment Agreement is hereby amended in its entirety to read as follows:

 

“10.Amendment
and Governing Law. This letter agreement may not be amended or modified except by an express written agreement signed by you
and a duly authorized officer of the Company. THE TERMS OF THIS LETTER AGREEMENT AND THE RESOLUTION OF ANY DISPUTES WILL BE GOVERNED
BY TEXAS LAW, WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES.”

 

3.                 
Section 8 of the PIIA is hereby amended in its entirety to read as follows:

 

“8.Non-Competition.
I agree that at all times during my employment with the Company, and for all periods after my employment with the Company in connection
with or during which I receive severance compensation from the Company (which for purposes of clarity shall be 24 months in connection
with severance compensation provided under Section 6(A) and 6 months in connection with severance compensation provided under
Section 6(B)), I will not engage, directly or indirectly, in any employment, business, or activity that is in any way competitive
with the business or reasonably anticipated business of the Company or would otherwise conflict with my employment by the Company,
and I will not assist any third party in competing with the Company or in preparing to engage in competition with the business
or proposed business of the Company.”

 

4.                 
Section 15 of the PIIA is hereby amended in its entirety to read as follows:

 

“15.Controlling
Law. This Agreement shall be governed by the laws of the State of Texas without regard to conflicts of laws principles. I
hereby expressly consent to the personal jurisdiction of the state and federal courts located in Texas for any lawsuit filed there
against me by the Company arising from or related to this Agreement.”

 

5.                 
Except as expressly modified herein, all terms and conditions of the Employment Agreement and the PIIA are hereby ratified, confirmed
and approved and shall remain in full force and effect. In the event of any conflict or inconsistency between this Amendment and
the Employment Agreement, or this Amendment and the PIIA, this Amendment shall govern.

 

[Signature Page Follows]

    	 

    	 

    

 

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

 

	COMPANY:	 	 	EXECUTIVE:

 

Ironclad Performance Wear Corporation

 

	By:	 	 	
	Name:	 	 	 
	Title:EX-10.1

 Exhibit 10.1 

TRANSITION SERVICES AGREEMENT 

BY AND BETWEEN 
 TEGNA INC. 

AND 
 CARS.COM INC. 

DATED AS OF [●] 

 TABLE OF CONTENTS 
  

							
	 	  	 	  	Page	 
	 ARTICLE I DEFINITIONS
	  	 	1	  
			
	 Section 1.01.
	  	Definitions	  	 	1	  
		
	 ARTICLE II SERVICES
	  	 	5	  
			
	 Section 2.01.
	  	Services	  	 	5	  
	 Section 2.02.
	  	Performance of Services	  	 	6	  
	 Section 2.03.
	  	Charges for Services	  	 	7	  
	 Section 2.04.
	  	Reimbursement for Out-of-Pocket Costs and Expenses	  	 	8	  
	 Section 2.05.
	  	Changes in the Performance of Services	  	 	8	  
	 Section 2.06.
	  	Transitional Nature of Services	  	 	8	  
	 Section 2.07.
	  	Subcontracting	  	 	8	  
		
	 ARTICLE III OTHER ARRANGEMENTS
	  	 	9	  
			
	 Section 3.01.
	  	Access	  	 	9	  
		
	 ARTICLE IV BILLING; TAXES
	  	 	9	  
			
	 Section 4.01.
	  	Procedure	  	 	9	  
	 Section 4.02.
	  	Late Payments	  	 	10	  
	 Section 4.03.
	  	Taxes	  	 	10	  
	 Section 4.04.
	  	No Set-Off	  	 	10	  
	 Section 4.05.
	  	Audit Rights	  	 	10	  
		
	 ARTICLE V TERM AND TERMINATION
	  	 	10	  
			
	 Section 5.01.
	  	Term	  	 	10	  
	 Section 5.02.
	  	Early Termination	  	 	11	  
	 Section 5.03.
	  	Interdependencies	  	 	11	  
	 Section 5.04.
	  	Effect of Termination	  	 	12	  
	 Section 5.05.
	  	Information Transmission	  	 	12	  
		
	 ARTICLE VI CONFIDENTIALITY; PROTECTIVE ARRANGEMENTS
	  	 	12	  
			
	 Section 6.01.
	  	Parent and SpinCo Obligations	  	 	12	  
	 Section 6.02.
	  	No Release; Return or Destruction	  	 	13	  
	 Section 6.03.
	  	Privacy and Data Protection Laws	  	 	13	  
	 Section 6.04.
	  	Protective Arrangements	  	 	13	  
		
	 ARTICLE VII LIMITED LIABILITY AND INDEMNIFICATION
	  	 	14	  
			
	 Section 7.01.
	  	Limitations on Liability	  	 	14	  

  
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	 Section 7.02.
	  	Obligation to Re-Perform; Liabilities	  	 	14	  
	 Section 7.03.
	  	Third-Party Claims	  	 	15	  
	 Section 7.04.
	  	Parent Indemnity	  	 	15	  
	 Section 7.05.
	  	Indemnification Procedures	  	 	15	  
		
	 ARTICLE VIII MISCELLANEOUS
	  	 	15	  
			
	 Section 8.01.
	  	Mutual Cooperation	  	 	15	  
	 Section 8.02.
	  	Further Assurances	  	 	15	  
	 Section 8.03.
	  	Audit Assistance	  	 	16	  
	 Section 8.04.
	  	Title to Intellectual Property	  	 	16	  
	 Section 8.05.
	  	Independent Contractors	  	 	16	  
	 Section 8.06.
	  	Counterparts; Entire Agreement; Corporate Power	  	 	16	  
	 Section 8.07.
	  	Governing Law	  	 	17	  
	 Section 8.08.
	  	Assignability	  	 	17	  
	 Section 8.09.
	  	Third-Party Beneficiaries	  	 	18	  
	 Section 8.10.
	  	Notices	  	 	18	  
	 Section 8.11.
	  	Severability	  	 	18	  
	 Section 8.12.
	  	Force Majeure	  	 	19	  
	 Section 8.13.
	  	Headings	  	 	19	  
	 Section 8.14.
	  	Survival of Covenants	  	 	19	  
	 Section 8.15.
	  	Waivers of Default	  	 	19	  
	 Section 8.16.
	  	Dispute Resolution	  	 	19	  
	 Section 8.17.
	  	Specific Performance	  	 	20	  
	 Section 8.18.
	  	Amendments	  	 	20	  
	 Section 8.19.
	  	Precedence of Schedules	  	 	20	  
	 Section 8.20.
	  	Interpretation	  	 	20	  
	 Section 8.21.
	  	Mutual Drafting	  	 	21	  

  
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 TRANSITION SERVICES AGREEMENT 

This TRANSITION SERVICES AGREEMENT, dated as of [●] (this “Agreement”), is by and between TEGNA Inc., a Delaware
corporation (“Parent”), and Cars.com Inc., a Delaware corporation (“SpinCo”). 

R E C I T A L S: 

WHEREAS, the board of directors of Parent (the “Parent Board”) has determined that it is in the best interests of Parent and
its stockholders to create a new publicly traded company that shall operate the SpinCo Business; 
 WHEREAS, in furtherance of the
foregoing, the Parent Board has determined that it is appropriate and desirable to separate the SpinCo Business from the Parent Business (the “Separation”) and, following the Separation, make a distribution, on a pro rata basis, to
holders of Parent Shares on the Record Date of all of the outstanding SpinCo Shares owned by Parent (the “Distribution”); 

WHEREAS, in order to effectuate the Separation and the Distribution, Parent and SpinCo have entered into a Separation and Distribution
Agreement, dated as of [●] (the “Separation and Distribution Agreement”); 
 WHEREAS, in order to facilitate and
provide for an orderly transition in connection with the Separation and the Distribution, the Parties desire to enter into this Agreement to set forth the terms and conditions pursuant to which Parent shall provide Services to SpinCo for a
transitional period; and 
 WHEREAS, the Parties acknowledge that this Agreement, the Separation and Distribution Agreement, and the other
Ancillary Agreements represent the integrated agreement of Parent and SpinCo relating to the Separation and Distribution, are being entered together, and would not have been entered independently. 

NOW, THEREFORE, in consideration of the mutual agreements, provisions and covenants contained in this Agreement, and for other good and
valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties, intending to be legally bound, hereby agree as follows: 

ARTICLE I 
 DEFINITIONS 

Section 1.01. Definitions. For purposes of this Agreement, the following terms shall have the following meanings: 

“Action” shall mean any demand, action, claim, dispute, suit, countersuit, arbitration, inquiry, subpoena, proceeding or
investigation of any nature (whether criminal, civil, legislative, administrative, regulatory, prosecutorial or otherwise) by or before any federal, state, local, foreign or international Governmental Authority or any arbitration or mediation
tribunal. 

 “Additional Services” shall have the meaning set forth in Section 2.01(b). 

“Affiliate” has the meaning set forth in the Separation and Distribution Agreement. 

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

“Ancillary Agreements” has the meaning set forth in the Separation and Distribution Agreement. 

“Charge” and “Charges” have the meaning set forth in Section 2.03. 

“Confidential Information” means all Information that is either confidential or proprietary. 

“Dispute” has the meaning set forth in Section 8.16(a). 

“Distribution” has the meaning set forth in the Recitals. 

“Distribution Date” shall mean the date of the consummation of the Distribution, which shall be determined by the Parent
Board in its sole and absolute discretion. 
 “Effective Time” shall mean [●], New York City time, on the
Distribution Date. 
 “e-mail” shall have the meaning set forth in
Section 8.10. 
 “Force Majeure” shall mean, with respect to a Party, an event beyond the
reasonable control of such Party (or any Person acting on its behalf), which event (a) does not arise or result from the fault or negligence of such Party (or any Person acting on its behalf) and (b) by its nature would not reasonably have
been foreseen by such Party (or such Person), or, if it would reasonably have been foreseen, was unavoidable, and includes acts of God, acts of civil or military authority, embargoes, epidemics, war, riots, insurrections, fires, explosions,
earthquakes, floods, unusually severe weather conditions, labor problems or unavailability of parts, or, in the case of computer systems, any significant and prolonged failure in electrical or air conditioning equipment. Notwithstanding the
foregoing, the receipt by a Party of an unsolicited takeover offer or other acquisition proposal, even if unforeseen or unavoidable, and such Party’s response thereto, shall not be deemed an event of Force Majeure. 

“Governmental Authority” shall mean any nation or government, any state, municipality or other political subdivision thereof,
and any entity, body, agency, commission, department, board, bureau, court, tribunal or other instrumentality, whether federal, state, local, domestic, foreign or multinational, exercising executive, legislative, judicial, regulatory, administrative
or other similar functions of, or pertaining to, government and any executive official thereof. 
 “Information” shall mean
information, whether or not patentable or copyrightable, in written, oral, electronic or other tangible or intangible forms, stored in any medium, including studies, reports, records, books, contracts, instruments, surveys, discoveries, ideas,
concepts, 

  
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know-how, techniques, designs, specifications, drawings, blueprints, diagrams, models, prototypes, samples, flow charts, data, computer data, disks,
diskettes, tapes, computer programs or other software, marketing plans, customer names, communications by or to attorneys (including attorney-client privileged communications), memos and other materials prepared by attorneys or under their direction
(including attorney work product), and other technical, financial, employee or business information or data. 
 “Interest
Payment” has the meaning set forth in Section 4.02. 
 “Law” shall mean any national,
supranational, federal, state, provincial, local or similar law (including common law), statute, code, order, ordinance, rule, regulation, treaty (including any income tax treaty), license, permit, authorization, approval, consent, decree,
injunction, binding judicial or administrative interpretation or other requirement, in each case, enacted, promulgated, issued or entered by a Governmental Authority. 

“Level of Service” has the meaning set forth in Section 2.02(c). 

“Liabilities” shall mean all debts, guarantees, assurances, commitments, liabilities, responsibilities, Losses, remediation,
deficiencies, damages, fines, penalties, settlements, sanctions, costs, expenses, interest and obligations of any nature or kind, whether accrued or fixed, absolute or contingent, matured or unmatured, accrued or not accrued, asserted or unasserted,
liquidated or unliquidated, foreseen or unforeseen, known or unknown, reserved or unreserved, or determined or determinable, including those arising under any Law, claim (including any Third-Party Claim), demand, Action, or order, writ, judgment,
injunction, decree, stipulation, determination or award entered by or with any Governmental Authority or arbitration tribunal, and those arising under any contract, agreement, obligation, indenture, instrument, lease, promise, arrangement, release,
warranty, commitment or undertaking, or any fines, damages or equitable relief that is imposed, in each case, including all costs and expenses relating thereto. 

“Losses” shall mean actual losses (including any diminution in value), costs, damages, penalties and expenses (including
legal and accounting fees and expenses and costs of investigation and litigation), whether or not involving a Third-Party Claim. 

“Minimum Service Period” means the period commencing on the Distribution Date and ending sixty (60) days after the
Distribution Date, unless otherwise specified with respect to a particular service on the Schedules hereto. 

“Parent” has the meaning set forth in the Preamble. 

“Parent Board” has the meaning set forth in the Recitals. 

“Parent Business” has the meaning set forth in the Separation and Distribution Agreement. 

“Parent Indemnitees” has the meaning set forth in Section 7.03. 

  
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 “Parent Shares” shall mean the shares of common stock, par value $1.00 per
share, of Parent. 
 “Parties” means the parties to this Agreement. 

“Person” shall mean an individual, a general or limited partnership, a corporation, a trust, a joint venture, an
unincorporated organization, a limited liability entity, any other entity and any Governmental Authority. 
 “Record Date”
shall mean the close of business on the date to be determined by the Parent Board as the record date for determining holders of Parent Shares entitled to receive SpinCo Shares pursuant to the Distribution. 

“Representatives” shall mean, with respect to any Person, any of such Person’s directors, officers, employees, agents,
consultants, advisors, accountants, attorneys or other representatives. 
 “Separation” has the meaning set forth in the
Recitals. 
 “Separation and Distribution Agreement” has the meaning set forth in the Recitals. 

“Service Baseline Period” has the meaning set forth in Section 2.02(c). 

“Service Period” means, with respect to any Service, the period commencing on the Distribution Date and ending on the
earliest of (a) the date that a Party terminates the provision of such Service pursuant to Section 5.02, (b) the date that is the two (2)-year anniversary of the Distribution Date and (c) the date specified for
termination of such Service in the Schedules hereto. 
 “Services” has the meaning set forth in Section
2.01(a). 
 “SpinCo” has the meaning set forth in the Preamble. 

“SpinCo Business” has the meaning set forth in the Separation and Distribution Agreement. 

“SpinCo Indemnitees” has the meaning set forth in Section 7.04. 

“SpinCo Shares” shall mean the shares of common stock, par value $0.01 per share, of SpinCo. 

“Subsidiary” shall mean, with respect to any Person, any corporation, limited liability company, joint venture or partnership
of which such Person (a) beneficially owns, either directly or indirectly, fifty percent (50%) or more of (i) the total combined voting power of all classes of voting securities, (ii) the total combined equity interests or
(iii) the capital or profit interests, in the case of a partnership, or (b) otherwise has the power to vote, either directly or indirectly, sufficient securities to elect a majority of the board of directors or similar governing body. 

  
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 “Tax” means any and all forms of taxation, whenever created or imposed by a
Taxing Authority, and, without limiting the generality of the foregoing, shall include net income, alternative or add-on minimum, estimated, gross income, sales, use, ad valorem, gross receipts, value added,
franchise, profits, license, transfer, recording, withholding, payroll, employment, excise, severance, stamp, occupation, premium, property, windfall profit, custom duty or other tax, governmental fee or other like assessment or charge of any kind
whatsoever, together with any related interest, penalties or other additions to tax, or additional amounts imposed by any such Taxing Authority. 

“Taxing Authority” means a national, foreign, municipal, state, federal or other Governmental Authority responsible for the
administration of any Tax. 
 “Termination Charges” shall mean, with respect to the termination of any Service pursuant to
Section 5.02(a)(i), any and all costs, fees and expenses (other than any severance or retention costs, unless otherwise specified with respect to a particular Service on the Schedules hereto or in the other Ancillary Agreements)
payable by Parent or its Subsidiaries to a Third Party directly as a result of the early termination of such Service; provided, however, that Parent shall use commercially reasonable efforts to minimize any costs, fees or expenses
payable to any Third Party in connection with such early termination of such Service and credit any such reductions against the Termination Charges payable by SpinCo. 

“Third Party” shall mean any Person other than the Parties or any of their respective Affiliates. 

“Third-Party Claim” shall mean any Action commenced by any Third Party against any Party or any of its Affiliates. 

ARTICLE II 
 SERVICES 

Section 2.01. Services. 

(a) Commencing as of the Effective Time, Parent agrees to provide, or to cause one or more of its Subsidiaries to provide, to SpinCo, or any
Subsidiary of SpinCo, the applicable services (the “Services”) set forth on the Schedules hereto. 
 (b) After the
date of this Agreement, if SpinCo (i) identifies a service that Parent provided to SpinCo prior to the Distribution Date that SpinCo reasonably needs in order for the SpinCo Business to continue to operate in substantially the same manner in
which the SpinCo Business operated prior to the Distribution Date, and such service was not included on the Schedules hereto (other than because the Parties agreed such service shall not be provided), and (ii) provides written notice to
Parent within sixty (60) days after the Distribution Date requesting such additional services, then Parent shall use its commercially reasonable efforts to provide such requested additional services (such requested additional services, the
“Additional Services”); provided, however, that Parent shall not be obligated to provide any Additional 

  
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Service if it does not, in its reasonable judgment, have adequate resources to provide such Additional Service or if the provision of such Additional Service would significantly disrupt the
operation of Parent’s or its Subsidiaries’ businesses; and provided, further, that Parent shall not be required to provide any Additional Services if the Parties are unable to reach agreement on the terms thereof (including
with respect to Service Charges therefor). In connection with any request for Additional Services in accordance with this Section 2.01(b), the Parties shall in good faith negotiate the terms of a supplement to the applicable Schedule, which
terms shall be consistent with the terms of, and the pricing methodology used for, similar Services provided under this Agreement. Upon the mutual written agreement of the Parties, the supplement to the applicable Schedule shall describe in
reasonable detail the nature, scope, Service Period(s), termination provisions and other terms applicable to such Additional Services in a manner similar to that in which the Services are described in the existing Schedules. Each supplement to the
applicable Schedule, as agreed to in writing by the Parties, shall be deemed part of this Agreement as of the date of such agreement and the Additional Services set forth therein shall be deemed “Services” provided under this Agreement, in
each case subject to the terms and conditions of this Agreement. 
 Section 2.02. Performance of Services. 

(a) Subject to Section 2.05, Parent shall perform, or shall cause one or more of its Subsidiaries to perform, all
Services to be provided in a manner that is based on its past practice and that in any event, conforms in all material respects with the terms of the Schedules hereto. 

(b) Nothing in this Agreement shall require Parent to perform or cause to be performed any Service to the extent that the manner of such
performance would constitute a violation of any applicable Law or any existing contract or agreement with a Third Party. If Parent is or becomes aware of the potential for any such violation, Parent shall promptly advise SpinCo of such potential
violation, and Parent and SpinCo will mutually seek an alternative that addresses such potential violation. The Parties agree to cooperate in good faith and use commercially reasonable efforts to obtain any necessary Third Party consents required
under any existing contract or agreement with a Third Party to allow Parent to perform, or cause to be performed, all Services to be provided hereunder in accordance with the standards set forth in this Section 2.02. SpinCo
shall reimburse Parent for all reasonable out-of-pocket costs and expenses (if any) incurred by Parent or any of its Subsidiaries in connection with obtaining any such
Third Party consent that is required to allow Parent to perform or cause to be performed such Services. If, with respect to a Service, the Parties, despite the use of such commercially reasonable efforts, are unable to obtain a required Third Party
consent, or the performance of such Service by Parent would constitute a violation of any applicable Law, Parent shall have no obligation whatsoever to perform or cause to be performed such Service. 

(c) Unless otherwise provided with respect to a specific Service on the Schedules hereto, Parent shall not be obligated to perform or
to cause to be performed any Service in a manner that is materially more burdensome (with respect to service quality or quantity) than analogous services provided to Parent or its applicable functional group or Subsidiary (collectively referred to
as the “Level of Service”) during the one year period ending on the last day of Parent’s last fiscal quarter completed on or prior to the date of the Distribution 

  
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(the “Service Baseline Period”). If SpinCo requests that Parent perform or cause to be performed any Service that exceeds the Level of Service during the Service Baseline Period,
then the Parties shall cooperate and act in good faith to determine whether Parent will be required to provide such requested higher Level of Service. If the Parties determine that Parent shall provide the requested higher Level of Service, then
such higher Level of Service shall be documented in a written agreement signed by the Parties. Each amended section of the Schedules hereto, as agreed to in writing by the Parties, shall be deemed part of this Agreement as of the date of such
written agreement and the Level of Service increases set forth in such written agreement shall be deemed a part of the “Services” provided under this Agreement, in each case subject to the terms and conditions of this Agreement. 

(d) (i) Neither Parent nor any of its Subsidiaries shall be required to perform or to cause to be performed any of the Services for the
benefit of any Third Party or any other Person other than SpinCo and its Subsidiaries, and (ii) EXCEPT AS EXPRESSLY PROVIDED IN THIS SECTION 2.02 OR SECTION 7.04, EACH PARTY ACKNOWLEDGES AND AGREES THAT ALL SERVICES ARE PROVIDED
ON AN “AS-IS” BASIS, THAT SPINCO ASSUMES ALL RISK AND LIABILITY ARISING FROM OR RELATING TO ITS USE OF AND RELIANCE UPON THE SERVICES, AND THAT PARENT MAKES NO OTHER REPRESENTATIONS OR GRANTS ANY
WARRANTIES, EXPRESS OR IMPLIED, EITHER IN FACT OR BY OPERATION OF LAW, BY STATUTE OR OTHERWISE, WITH RESPECT TO THE SERVICES. PARENT SPECIFICALLY DISCLAIMS ANY OTHER WARRANTIES, WHETHER WRITTEN OR ORAL, OR EXPRESS OR IMPLIED, INCLUDING ANY WARRANTY
OF QUALITY, MERCHANTABILITY, OR FITNESS FOR A PARTICULAR USE OR PURPOSE OR THE NON-INFRINGEMENT OF ANY INTELLECTUAL PROPERTY RIGHTS OF THIRD PARTIES. 

(e) Each Party shall be responsible for its own compliance with any and all Laws applicable to its performance under this Agreement. No Party
shall knowingly take any action in violation of any such applicable Law that results in Liability being imposed on the other Party. 

Section 2.03. Charges for Services. Unless otherwise provided with respect to a specific Service on the Schedules hereto,
SpinCo shall pay Parent a fee (either one-time or recurring) for such Services (or category of Services, as applicable) (each fee constituting a “Charge” and, collectively,
“Charges”), which Charges shall be set forth on the applicable Schedules hereto, or if not so set forth, then, unless otherwise provided with respect to a specific Service on the Schedule hereto, based upon the cost of
providing such Services as shall be agreed to by the Parties from time to time. During the term of this Agreement, the amount of a Charge for any Service may be modified to the extent of (a) any adjustments mutually agreed to by the Parties,
(b) any adjustments due to a change in Level of Service requested by SpinCo and agreed upon by Parent, and (c) any adjustment in the rates or charges imposed by any Third Party provider that is providing Services, provided that Parent will
notify SpinCo in writing of any such change in rates at least thirty (30) days prior to the effective date of such rate change. Together with any invoice for Charges, Parent shall provide SpinCo with reasonable documentation, including any
additional documentation reasonably requested by SpinCo to the extent that such documentation is in Parent’s or its Subsidiaries’ possession or control, to support the calculation of such Charges.  

  
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 Section 2.04. Reimbursement for Out-of-Pocket Costs and Expenses. SpinCo shall reimburse Parent for reasonable out-of-pocket costs and expenses incurred by
Parent or any of its Subsidiaries in connection with providing the Services (including reasonable travel-related expenses) to the extent that such costs and expenses are not reflected in the Charges for such Services; provided,
however, that any such cost or expense in excess of ten thousand dollars ($10,000.00) that is not consistent with Parent’s historical practice for any individual Service (including business travel and related expenses) shall require
advance written approval of SpinCo; provided, further, that if SpinCo does not provide such advance written approval and the incurrence of such cost or expense is reasonably necessary for Parent to provide such Service in accordance
with the standards set forth in this Agreement, Parent shall not be required to perform such Service. Any authorized travel-related expenses incurred in performing the Services shall be incurred and charged to SpinCo in accordance with Parent’s
then-applicable business travel policies. 
 Section 2.05. Changes in the Performance of Services. Subject to the performance
standards for Services set forth in Section 2.02(a), 2.02(b) and 2.02(c), Parent may make changes from time to time in the manner of performing the Services if Parent is making similar changes in performing analogous services
for itself and if Parent furnishes to SpinCo reasonable prior written notice (in content and timing) of such changes. If such change shall materially adversely affect the timeliness or quality of, or the Charges for, the applicable Service, SpinCo
shall be permitted to terminate this Agreement or the applicable specific Service pursuant to Section 5.02(a)(i) without being required to pay any Termination Charges pursuant to Section 5.04 or comply with clauses
(x), (y) and (z) of Section 5.02(a)(i). 
 Section 2.06. Transitional Nature of Services. The Parties acknowledge
the transitional nature of the Services and agree to cooperate in good faith and to use commercially reasonable efforts to avoid a disruption in the transition of the Services from Parent to SpinCo (or its designee). SpinCo agrees to use
commercially reasonable efforts to reduce or eliminate its and its Affiliates’ dependency on each Service to the extent and as soon as is reasonably practicable. 

Section 2.07. Subcontracting. Parent may hire or engage one or more Third Parties to perform any or all of its obligations under
this Agreement; provided, however, that (a) Parent shall use the same degree of care (but at least reasonable care) in selecting each such Third Party as it would if such Third Party was being retained to provide similar services
to Parent and (b) Parent shall in all cases remain responsible (as primary obligor) for all of its obligations under this Agreement with respect to the scope of the Services, the performance standard for Services set forth in Section
2.02(a), 2.02(b) and 2.02(c) and the content of the Services provided to SpinCo. Parent shall be liable for any breach of its obligations under this Agreement by any Third Party service provider engaged by Parent. Subject to the
confidentiality provisions set forth in Article VI, Parent shall, and shall cause its Affiliates to, provide, upon fifteen (15) business days’ prior written notice, any Information within Parent’s or its Affiliates’
control that SpinCo reasonably requests in connection with any Services being provided to SpinCo by a Third Party, including any applicable invoices, agreements documenting the arrangements between such Third Party and Parent and other supporting
documentation; provided, further, however, that SpinCo shall make no more than one such request per Third Party during any calendar quarter. 

  
 -8- 

 ARTICLE III 

OTHER ARRANGEMENTS 

Section 3.01. Access. 

(a) Upon reasonable advance notice, SpinCo shall, and shall cause its Subsidiaries to, allow Parent and its Subsidiaries and their respective
Representatives reasonable access during normal business hours to the facilities, Information, systems, infrastructure and personnel of SpinCo and its Subsidiaries as reasonably necessary for Parent and its Subsidiaries to fulfill their obligations
under this Agreement and, as applicable, to verify the accuracy of internal controls over information technology, reporting of financial data and related processes employed in connection with verifying compliance with Section 404 of the
Sarbanes-Oxley Act of 2002; provided that (i) such access shall not unreasonably interfere with any of the business or operations of SpinCo or any of its Subsidiaries and (ii) in the event that SpinCo determines that providing such
access could violate any applicable Law or agreement or waive any attorney-client privilege, then the Parties shall use commercially reasonable efforts to permit such access in a manner that avoids any such consequence. Parent agrees that all of its
and its Subsidiaries’ employees shall, and that it shall use commercially reasonable efforts to cause its Representatives’ employees to, when on the property of SpinCo or its Subsidiaries, or when given access to any facilities,
Information, systems, infrastructure or personnel of SpinCo or its Subsidiaries, conform to the policies and procedures of SpinCo and its Subsidiaries, as applicable, concerning health, safety, conduct and security which are made known or provided
to Parent from time to time. 
 (b) Upon reasonable advance notice, Parent shall, and shall cause its Subsidiaries to, allow SpinCo and its
Subsidiaries and their respective Representatives reasonable access during normal business hours to the facilities, Information, systems, infrastructure and personnel of Parent and its Subsidiaries as reasonably necessary for SpinCo to verify the
adequacy of internal controls over information technology, reporting of financial data and related processes employed in connection with the Services being provided, including in connection with verifying compliance with Section 404 of the
Sarbanes-Oxley Act of 2002; provided that (i) such access shall not unreasonably interfere with any of the business or operations of Parent or any of its Subsidiaries and (ii) in the event that Parent determines that providing such
access could violate any applicable Law or agreement or waive any attorney-client privilege, then the Parties shall use commercially reasonable efforts to permit such access in a manner that avoids any such consequence. SpinCo agrees that all of its
and its Subsidiaries’ employees shall, and that it shall use commercially reasonable efforts to cause its Representatives’ employees to, when on the property of Parent or its Subsidiaries, or when given access to any facilities,
Information, systems, infrastructure or personnel of Parent or its Subsidiaries, conform to the policies and procedures of Parent and its Subsidiaries, as applicable, concerning health, safety, conduct and security which are made known or provided
to SpinCo from time to time. 
 ARTICLE IV 

BILLING; TAXES 

Section 4.01. Procedure. Charges for the Services shall be charged to and payable by SpinCo. Amounts payable pursuant to this
Agreement shall be paid by wire transfer or Automated Clearing House payment (or such other method of payment as may be agreed 

  
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between the Parties from time to time) to Parent (as directed by Parent), which amounts shall be due (a) in the case of recurring fees, on a monthly basis on or prior to the first day of the
calendar month for which the applicable Service is to be provided, and (b) in the case of all other amounts, within forty-five (45) days of SpinCo’s receipt of each invoice for Charges, including reasonable documentation pursuant to
Section 2.03. All amounts due and payable hereunder shall be paid in U.S. dollars. In the event of any billing dispute, SpinCo shall promptly pay any undisputed amount.  

Section 4.02. Late Payments. Charges not paid when due (including any undisputed amounts) pursuant to this Agreement (and any
amounts billed or otherwise invoiced or demanded and properly payable that are not paid within forty-five (45) days of the receipt of such bill, invoice or other demand) shall accrue interest at a rate per annum equal to the Prime Rate plus two
percent (2%) or the maximum rate under applicable Law, whichever is lower (the “Interest Payment”). 
 Section 4.03.
Taxes. Without limiting any provisions of this Agreement, SpinCo shall bear any and all Taxes and other similar charges (and any related interest and penalties) imposed on, or payable with respect to, any fees or charges, including any
Charges, payable by it pursuant to this Agreement, including all sales, use, value-added, and similar Taxes, but excluding any Taxes on Parent’s income. Notwithstanding anything to the contrary in the previous sentence or elsewhere in this
Agreement, SpinCo shall be entitled to withhold from any payments to Parent any such Taxes that SpinCo is required by applicable Law to withhold and shall pay such Taxes to the applicable Taxing Authority. 

Section 4.04. No Set-Off. Except as mutually agreed to in writing by Parent and SpinCo,
neither SpinCo nor any of its Affiliates shall have any right of set-off or other similar rights with respect to any amounts owed to Parent or any of its Subsidiaries pursuant to this Agreement on account of
any obligation owed by Parent or any of its Subsidiaries to SpinCo or any of its Subsidiaries. 
 Section 4.05. Audit Rights.
Subject to the confidentiality provisions of this Agreement, Parent shall, and shall cause its Affiliates to, provide, upon ten (10) days’ prior written notice from SpinCo, any information within Parent’s or its Affiliates’
possession that SpinCo reasonably requests in connection with any Services being provided to SpinCo by Parent or a Third Party service provider, including any applicable invoices or other supporting documentation, or in the case of a Third Party
service provider, agreements documenting the arrangements between such Third Party service provider and Parent; provided, however, that SpinCo shall make no more than one such request during any calendar month. SpinCo shall reimburse
Parent for any reasonable, documented, out-of-pocket costs incurred in connection with Parent providing such information. 

ARTICLE V 
 TERM AND TERMINATION

 Section 5.01. Term. This Agreement shall commence at the Effective Time and shall terminate upon the earliest to occur of
(a) the last date on which Parent is obligated to provide any Service to SpinCo in accordance with the terms of this Agreement; (b) the mutual written 

  
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agreement of the Parties to terminate this Agreement in its entirety; and (c) the date that is the two (2)-year anniversary of the Distribution Date. Unless otherwise terminated pursuant to
Section 5.02, this Agreement shall terminate with respect to each Service as of the close of business on the last day of the Service Period for such Service. 

Section 5.02. Early Termination. 

(a) Without prejudice to SpinCo’s rights with respect to Force Majeure, SpinCo may from time to time terminate this Agreement with
respect to the entirety or portion of any Service (for the avoidance of doubt, SpinCo may terminate any Service (or portion thereof) set forth on any part of the Schedules hereto without terminating all or any other Services set forth on the
same Schedule as such terminated Service (or portion thereof)): 
 (i) For any reason or no reason, upon the giving of
at least forty-five (45) days’ prior written notice (or such other number of days specified in the Schedules hereto) to Parent; provided, however, that any such termination (x) may not be effective prior to the
end of the Minimum Service Period, (y) may only be effective as of the last day of a month and (z) shall be subject to the obligation to pay any applicable Termination Charges pursuant to Section 5.04; or 

(ii) if Parent has failed to perform any of its material obligations under this Agreement with respect to such Service, and
such failure shall continue to be uncured by Parent for a period of at least thirty (30) days after receipt by Parent of written notice of such failure from SpinCo; provided, however, that SpinCo shall not be entitled to terminate
this Agreement with respect to the applicable Service if, as of the end of such period, there remains a good-faith Dispute between the Parties (undertaken in accordance with the terms of Section 8.16) as to whether Parent
has cured the applicable breach. 
 (b) Parent may terminate this Agreement with respect to the entirety or portion of any Service at any
time upon prior written notice to SpinCo if SpinCo has failed to perform any of its material obligations under this Agreement with respect to such Service, including making payment of Charges for such Service when due, and such failure shall
continue to be uncured by SpinCo for a period of at least thirty (30) days after receipt by SpinCo of a written notice of such failure from Parent; provided, however, that Parent shall not be entitled to terminate this Agreement
with respect to the applicable Service if, as of the end of such period, there remains a good-faith Dispute between the Parties (undertaken in accordance with the terms of Section 8.16) as to whether SpinCo has cured the
applicable breach. 
 (c) The Schedules hereto shall be updated to reflect any terminated Service. 

Section 5.03. Interdependencies. The Parties acknowledge and agree that (a) there may be interdependencies among the Services
being provided under this Agreement; (b) upon the request of either Party, the Parties shall cooperate and act in good faith to determine whether (i) any such interdependencies exist with respect to the particular Service that SpinCo is
seeking to terminate pursuant to Section 5.02 and (ii) in the case of such termination, Parent’s ability to provide a particular Service in accordance with this Agreement would be materially and adversely affected
by such termination of another Service; and (c) in the event that the Parties have determined that such interdependencies exist and such termination would materially and 

  
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adversely affect Parent’s ability to provide a particular Service in accordance with this Agreement, the Parties shall (i) negotiate in good faith to amend the Schedules hereto
with respect to such impacted Service prior to such termination, which amendment shall be consistent with the terms of comparable Services, and (ii) if after such negotiation, the Parties are unable to agree on such amendment, Parent’s
obligation to provide such Service shall terminate automatically with such termination. 
 Section 5.04. Effect of Termination.
Upon the termination of any Service pursuant to this Agreement, Parent shall have no further obligation to provide the terminated Service, and SpinCo shall have no obligation to pay any future Charges relating to such Service; provided,
however, that SpinCo shall remain obligated to Parent for (a) the Charges owed and payable in respect of Services provided prior to the effective date of termination for such Service, and (b) any applicable Termination Charges
(which, in the case of clause (b), shall not be payable in the event that SpinCo terminates any Service pursuant to Section 5.02(a)(ii)). In connection with the termination of any Service, the provisions of this Agreement not relating solely
to such terminated Service shall survive any such termination, and in connection with a termination of this Agreement, Article I, this Article V, Article VII and Article VIII, all confidentiality obligations under this
Agreement and Liability for all due and unpaid Charges, and Termination Charges shall continue to survive indefinitely. 

Section 5.05. Information Transmission. Parent, on behalf of itself and its Subsidiaries, shall use commercially reasonable
efforts to provide or make available, or cause to be provided or made available, to SpinCo, in accordance with Section 6.1 of the Separation and Distribution Agreement, any Information received or computed by Parent for the benefit of SpinCo
concerning the relevant Service during the Service Period; provided, however, that, except as otherwise agreed to in writing by the Parties (a) Parent shall not have any obligation to provide, or cause to be provided, Information
in any non-standard format, (b) Parent and its Subsidiaries shall be reimbursed for their reasonable costs in accordance with Section 6.3 of the Separation and Distribution Agreement for creating,
gathering, copying, transporting and otherwise providing such Information, and (c) Parent shall use commercially reasonable efforts to maintain any such Information in accordance with Section 6.4 of the Separation and Distribution
Agreement. 
 ARTICLE VI 

CONFIDENTIALITY; PROTECTIVE ARRANGEMENTS 

Section 6.01. Parent and SpinCo Obligations. Subject to Section 6.04, until the three (3)-year
anniversary of the date of the termination of this Agreement in its entirety, each of Parent and SpinCo, on behalf of itself and each of its Subsidiaries, agrees to hold, and to cause its respective Representatives to hold, in strict confidence,
with at least the same degree of care that applies to Parent’s Confidential Information pursuant to policies in effect as of the Effective Time, all Confidential Information concerning the other Party or its Subsidiaries or their respective
businesses that is either in its possession (including Confidential Information in its possession prior to the date hereof) or furnished by such other Party or such other Party’s Subsidiaries or their respective Representatives at any time
pursuant to this Agreement, and shall 

  
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not use any such Confidential Information other than for such purposes as may be expressly permitted hereunder, except, in each case, to the extent that such Confidential Information
(a) is in the public domain or is generally available to the public, other than as a result of a disclosure by such Party or any of its Subsidiaries or any of their respective Representatives in violation of this Agreement; (b) is lawfully
acquired from other sources by such Party or any of its Subsidiaries, which sources are not themselves known by such Party or any of its Subsidiaries to be bound by a confidentiality obligation or other contractual, legal or fiduciary obligation of
confidentiality with respect to such Confidential Information; or (c) is independently developed or generated without reference to or use of the Confidential Information of the other Party or any of its Subsidiaries. If any Confidential
Information of a Party or any of its Subsidiaries is disclosed to the other Party or any of its Subsidiaries in connection with providing the Services, then such disclosed Confidential Information shall be used only as required to perform such
Services. 
 Section 6.02. No Release; Return or Destruction. Each Party agrees (a) not to release or disclose, or permit
to be released or disclosed, any Confidential Information of the other Party addressed in Section 6.01 to any other Person, except its Representatives who need to know such Confidential Information in their capacities as
such (who shall be advised of their obligations hereunder with respect to such Confidential Information) and except in compliance with Section 6.04, and (b) to use commercially reasonable efforts to maintain such
Confidential Information in accordance with Section 6.4 of the Separation and Distribution Agreement. Without limiting the foregoing, when any such Confidential Information is no longer needed for the purposes contemplated by the Separation and
Distribution Agreement, this Agreement or any other Ancillary Agreements, each Party will promptly after request of the other Party either return to the other Party all such Confidential Information in a tangible form (including all copies thereof
and all notes, extracts or summaries based thereon) or notify the other Party in writing that it has destroyed such information (and such copies thereof and such notes, extracts or summaries based thereon); provided that the Parties may
retain electronic back-up versions of such Confidential Information maintained on routine computer system backup tapes, disks or other backup storage devices; and provided, further, that any such
retained back-up information shall remain subject to the confidentiality provisions of this Agreement. 
 Section 6.03. Privacy and
Data Protection Laws. Each Party shall comply with all applicable state, federal and foreign privacy and data protection Laws that are or that may in the future be applicable to the provision of the Services under this Agreement. 

Section 6.04. Protective Arrangements. In the event that a Party or any of its Subsidiaries either determines on the advice of its
counsel that it is required to disclose any information pursuant to applicable Law or receives any request or demand under lawful process or from any Governmental Authority to disclose or provide information of the other Party (or any of its
Subsidiaries) that is subject to the confidentiality provisions hereof, such Party shall notify the other Party (to the extent legally permitted) as promptly as practicable under the circumstances prior to disclosing or providing such information
and shall cooperate, at the expense of the other Party, in seeking any appropriate protective order requested by the other Party. In the event that such other Party fails to receive such appropriate protective order in a timely manner and the Party
receiving the request or demand reasonably determines that its failure to disclose or provide such information shall actually prejudice the Party receiving the request or demand, then the Party that received such request or demand may thereafter
disclose or provide information to the extent required by such Law (as so advised by its counsel) or by 

  
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lawful process or such Governmental Authority, and the disclosing Party shall promptly provide the other Party with a copy of the information so disclosed, in the same form and format so
disclosed, together with a list of all Persons to whom such information was disclosed, in each case to the extent legally permitted.  

ARTICLE VII 
 LIMITED LIABILITY AND
INDEMNIFICATION 
 Section 7.01. Limitations on Liability. 

(a) SUBJECT TO SECTION 7.02, THE LIABILITIES OF PARENT AND ITS SUBSIDIARIES AND THEIR RESPECTIVE REPRESENTATIVES,
COLLECTIVELY, UNDER THIS AGREEMENT FOR ANY ACT OR FAILURE TO ACT IN CONNECTION HEREWITH (INCLUDING THE PERFORMANCE OR BREACH OF THIS AGREEMENT), OR FROM THE SALE, DELIVERY, PROVISION OR USE OF ANY SERVICES PROVIDED UNDER OR CONTEMPLATED BY THIS
AGREEMENT, WHETHER IN CONTRACT, TORT (INCLUDING NEGLIGENCE AND STRICT LIABILITY) OR OTHERWISE, SHALL NOT EXCEED $5,000,000. SUBJECT TO SECTION 7.02 AND EXCEPT FOR THE FAILURE OF SPINCO TO PAY FOR SERVICES, THE LIABILITIES OF SPINCO AND ITS
SUBSIDIARIES AND THEIR RESPECTIVE REPRESENTATIVES, COLLECTIVELY, UNDER THIS AGREEMENT FOR ANY ACT OR FAILURE TO ACT IN CONNECTION HEREWITH (INCLUDING THE PERFORMANCE OR BREACH OF THIS AGREEMENT), OR FROM THE RECEIPT OF ANY SERVICES PROVIDED UNDER OR
CONTEMPLATED BY THIS AGREEMENT, WHETHER IN CONTRACT, TORT (INCLUDING NEGLIGENCE AND STRICT LIABILITY) OR OTHERWISE, SHALL NOT EXCEED $5,000,000. 

(b) IN NO EVENT SHALL EITHER PARTY, ITS SUBSIDIARIES OR THEIR RESPECTIVE REPRESENTATIVES BE LIABLE TO THE OTHER PARTY FOR ANY INDIRECT,
PUNITIVE, EXEMPLARY, REMOTE, SPECULATIVE OR SIMILAR DAMAGES IN EXCESS OF COMPENSATORY DAMAGES OF THE OTHER PARTY IN CONNECTION WITH THE PERFORMANCE OF THIS AGREEMENT (OTHER THAN ANY SUCH LIABILITY WITH RESPECT TO A THIRD-PARTY CLAIM), AND EACH PARTY
HEREBY WAIVES ON BEHALF OF ITSELF, ITS SUBSIDIARIES AND ITS REPRESENTATIVES ANY CLAIM FOR SUCH DAMAGES, WHETHER ARISING IN CONTRACT, TORT OR OTHERWISE. 

(c) The limitations in Section 7.01(a) and Section 7.01(b) shall not apply in respect of any Liability arising out of or in
connection with (i) either Party’s Liability for breaches of confidentiality under Article VI, (ii) the Parties’ respective obligations under Section 7.03 or 7.04 or (iii) the willful
misconduct or fraud of or by the Party to be charged.  
 Section 7.02. Obligation to
Re-Perform; Liabilities. In the event of any breach of this Agreement by Parent with respect to the provision of any Services (with respect to which Parent can reasonably be expected to re-perform in a commercially reasonable manner), Parent shall, at the request of SpinCo, promptly correct in all material respects such error, defect or breach or re-perform
in all material respects such Services at the sole cost and expense of Parent. The remedy 

  
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set forth in this Section 7.02 shall be the sole and exclusive remedy of SpinCo for any such breach of this Agreement; provided, however, that the
foregoing shall not prohibit SpinCo from exercising its right to terminate this Agreement in accordance with the provisions of Section 5.02(a)(ii) or seeking specific performance in accordance with Section 8.17. Any
request for re-performance in accordance with this Section 7.02 by SpinCo must be in writing and specify in reasonable detail the particular error, defect or breach, and such
request must be made no more than one month from the later of (x) the date on which such breach occurred and (y) the date on which such breach was reasonably discovered by SpinCo. 

Section 7.03. Third-Party Claims. In addition to (but not in duplication of) its other indemnification obligations (if any) under
the Separation and Distribution Agreement, this Agreement or any other Ancillary Agreement, SpinCo shall indemnify, defend and hold harmless Parent, its Subsidiaries and each of their respective Representatives, and each of the successors and
assigns of any of the foregoing (collectively, the “Parent Indemnitees”), from and against any and all claims of Third Parties relating to, arising out of or resulting from SpinCo’s use or receipt of the Services provided by
Parent hereunder, other than Third-Party Claims arising out of the gross negligence, willful misconduct or fraud of any Parent Indemnitee. 

Section 7.04. Parent Indemnity. In addition to (but not in duplication of) its other indemnification obligations (if any) under
the Separation and Distribution Agreement, this Agreement or any other Ancillary Agreement, Parent shall indemnify, defend and hold harmless SpinCo, its Subsidiaries and each of their respective Representatives, and each of the successors and
assigns of any of the foregoing (collectively, the “SpinCo Indemnitees”), from and against any and all Liabilities relating to, arising out of or resulting from the sale, delivery or provision of any Services provided by Parent
hereunder, but only to the extent that such Liability relates to, arises out of or results from Parent’s gross negligence, willful misconduct or fraud. 

Section 7.05. Indemnification Procedures. The procedures for indemnification set forth in Sections 4.5, 4.6 and 4.7 of the
Separation and Distribution Agreement shall govern claims for indemnification under this Agreement. 
 ARTICLE VIII 

MISCELLANEOUS 
 Section 8.01.
Mutual Cooperation. Each Party shall, and shall cause its Subsidiaries to, cooperate with the other Party and its Subsidiaries in connection with the performance of the Services hereunder; provided, however, that such
cooperation shall not unreasonably disrupt the normal operations of such Party or its Subsidiaries; and, provided, further, that this Section 8.01 shall not require such Party to incur any out-of-pocket costs or expenses unless and except as expressly provided in this Agreement or otherwise agreed to in writing by the Parties. 

Section 8.02. Further Assurances. Subject to the terms of this Agreement, each Party shall take, or cause to be taken, any and all
reasonable actions, including the execution, acknowledgment, filing and delivery of any and all documents and instruments that any other Party may reasonably request in order to effect the intent and purpose of this Agreement and the transactions
contemplated hereby. 

  
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 Section 8.03. Audit Assistance. Each of the Parties and their respective Subsidiaries
are or may be subject to regulation and audit by a Governmental Authority (including a Taxing Authority), standards organizations, customers or other parties to contracts with such Parties or their respective Subsidiaries under applicable Law,
standards or contract provisions. If a Governmental Authority, standards organization, customer or other party to a contract with a Party or its Subsidiary exercises its right to examine or audit such Party’s or its Subsidiary’s books,
records, documents or accounting practices and procedures pursuant to such applicable Law, standards or contract provisions, and such examination or audit relates to the Services, then the other Party shall provide, at the sole cost and expense of
the requesting Party, all assistance reasonably requested by the Party that is subject to the examination or audit in responding to such examination or audits or requests for Information, to the extent that such assistance or Information is within
the reasonable control of the cooperating Party and is related to the Services. 
 Section 8.04. Title to Intellectual Property.
Except as expressly provided for under the terms of this Agreement or the Separation and Distribution Agreement, SpinCo acknowledges that it shall acquire no right, title or interest (including any license rights or rights of use) in any
intellectual property which is owned or licensed by Parent, by reason of the provision of the Services hereunder. SpinCo shall not remove or alter any copyright, trademark, confidentiality or other proprietary notices that appear on any intellectual
property owned or licensed by Parent, and SpinCo shall reproduce any such notices on any and all copies thereof. SpinCo shall not attempt to decompile, translate, reverse engineer or make excessive copies of any intellectual property owned or
licensed by Parent, and SpinCo shall promptly notify Parent of any such attempt, regardless of whether by SpinCo or any Third Party, of which SpinCo becomes aware. 

Section 8.05. Independent Contractors. The Parties each acknowledge and agree that they are separate entities, each of which has
entered into this Agreement for independent business reasons. The relationships of the Parties hereunder are those of independent contractors and nothing contained herein shall be deemed to create a joint venture, partnership or any other
relationship between the Parties. Employees performing Services hereunder do so on behalf of, under the direction of, and as employees of, Parent, and SpinCo shall have no right, power or authority to direct such employees, unless otherwise
specified with respect to a particular Service on the Schedules hereto. 
 Section 8.06. Counterparts; Entire Agreement;
Corporate Power. 
 (a) This Agreement may be executed in one or more counterparts, all of which shall be considered one and the same
agreement, and shall become effective when one or more counterparts have been signed by each of the Parties and delivered to the other Party. 

(b) This Agreement, the Separation and Distribution Agreement and the other Ancillary Agreements and the Exhibits, Schedules and appendices
hereto and thereto contain the entire agreement between the Parties with respect to the subject matter hereof, supersede all previous agreements, negotiations, discussions, writings, understandings, commitments and conversations with respect to such
subject matter, and there are no agreements or understandings between the Parties other than those set forth or referred to herein or therein. This Agreement, the Separation and Distribution Agreement, and the other Ancillary Agreements govern the
arrangements in connection with the Separation and Distribution and would not have been entered independently. 

  
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 (c) Parent represents on behalf of itself and, to the extent applicable, each of its
Subsidiaries, and SpinCo represents on behalf of itself and, to the extent applicable, each of its Subsidiaries, as follows: 

(i) each such Person has the requisite corporate or other power and authority and has taken all corporate or other action
necessary in order to execute, deliver and perform this Agreement and to consummate the transactions contemplated hereby; and 

(ii) this Agreement has been duly executed and delivered by it and constitutes a valid and binding agreement of it and is
enforceable in accordance with the terms hereof. 
 (d) Each Party acknowledges and agrees that delivery of an executed counterpart of a
signature page to this Agreement (whether executed by manual, stamp or mechanical signature) by facsimile or by e-mail in portable document format (PDF) shall be effective as delivery of such executed
counterpart of this Agreement. Each Party expressly adopts and confirms each such facsimile, stamp or mechanical signature (regardless of whether delivered in person, by mail, by courier, by facsimile or by
e-mail in portable document format (PDF)) made in its respective name as if it were a manual signature delivered in person, agrees that it will not assert that any such signature or delivery is not adequate to
bind such Party to the same extent as if it were signed manually and delivered in person and agrees that, at the reasonable request of the other Party at any time, it will as promptly as reasonably practicable cause this Agreement to be manually
executed (any such execution to be as of the date of the initial date thereof) and delivered in person, by mail or by courier. 

Section 8.07. Governing Law. This Agreement (and any claims or disputes arising out of or related hereto or to the transactions
contemplated hereby or to the inducement of any Party to enter herein, whether for breach of contract, tortious conduct or otherwise and whether predicated on common law, statute or otherwise) shall be governed by and construed and interpreted in
accordance with the Laws of the State of Delaware, irrespective of the choice of Laws principles of the State of Delaware, including all matters of validity, construction, effect, enforceability, performance and remedies. 

Section 8.08. Assignability. This Agreement shall be binding upon and inure to the benefit of the Parties and their respective
successors and permitted assigns; provided, however, that neither Party may assign its rights or delegate its obligations under this Agreement without the express prior written consent of the other Party. Notwithstanding the foregoing,
no such consent shall be required for the assignment of a Party’s rights and obligations under the Separation and Distribution Agreement, this Agreement and the other Ancillary Agreements in whole (i.e., the assignment of a Party’s
rights and obligations under the Separation and Distribution Agreement, this Agreement and all the other Ancillary Agreements all at the same time) in connection with a merger, consolidation or other business combination of a Party with or

  
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into any other Person or a sale of all or substantially all of the assets of a Party to another Person, in each case so long as the resulting, surviving or acquiring Person assumes all the
obligations of the relevant Party by operation of Law or pursuant to an agreement in form and substance reasonably satisfactory to the other Party. 

Section 8.09. Third-Party Beneficiaries. Except as provided in Article VII with respect to the Parent Indemnitees and the
SpinCo Indemnitees in their respective capacities as such, (a) the provisions of this Agreement are solely for the benefit of the Parties and are not intended to confer upon any other Person except the Parties any rights or remedies hereunder;
and (b) there are no other third-party beneficiaries of this Agreement and this Agreement shall not provide any other Third Party with any remedy, claim, Liability, reimbursement, claim of action or other right in excess of those existing
without reference to this Agreement. 
 Section 8.10. Notices. All notices, requests, claims, demands or other communications
under this Agreement shall be in writing and shall be given or made (and except as provided herein shall be deemed to have been duly given or made upon receipt) by delivery in person, by overnight courier service, by certified mail, return receipt
requested, by facsimile, or by electronic mail (“e-mail”), so long as confirmation of receipt of such e-mail is requested and received, to the
respective Parties at the following addresses (or at such other address for a Party as shall be specified in a notice given in accordance with this Section 8.10): 

 

			
	If to Parent, to:
	
	TEGNA Inc.
	7950 Jones Branch Drive
	McLean, Virginia 22107
	Attention:	  	Chief Legal and Administrative Officer
	Facsimile:	  	(703) 873-6331
	E-mail:	  	lawdept@tegna.com
	
	If to SpinCo, to:
	
	Cars.com Inc.
	175 West Jackson Boulevard
	Chicago Illinois
	Attention:	  	Chief Legal Officer
	Facsimile:	  	(312) 601-5865
	E-mail:	  	legal@cars.com

 Any Party may, by notice to the other Party, change the address to which such notices are to be given. 

Section 8.11. Severability. If any provision of this Agreement or the application thereof to any Person or circumstance is
determined by a court of competent jurisdiction to be invalid, void or unenforceable, the remaining provisions hereof, or the application of such provision to Persons or circumstances or in jurisdictions other than those as to which it has been held
invalid or unenforceable, shall remain in full force and effect and shall in no way be affected, impaired 

  
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or invalidated thereby. Upon such determination, the Parties shall negotiate in good faith in an effort to agree upon such a suitable and equitable provision to effect the original intent of the
Parties. 
 Section 8.12. Force Majeure. No Party shall be deemed in default of this Agreement for any delay or failure to
fulfill any obligation hereunder so long as and to the extent to which any delay or failure in the fulfillment of such obligations is prevented, frustrated, hindered or delayed as a consequence of circumstances of Force Majeure. Without limiting the
termination rights contained in this Agreement, in the event of any such excused delay, the time for performance shall be extended for a period equal to the time lost by reason of the delay. A Party claiming the benefit of this provision shall, as
soon as reasonably practicable after the occurrence of any such Force Majeure, (a) provide written notice to the other Party of the nature and extent of such Force Majeure; and (b) use commercially reasonable efforts to remove any such
causes and resume performance under this Agreement as soon as reasonably practicable (and in no event later than the date that the affected Party resumes analogous performance under any other agreement for itself, its Affiliates or any Third Party)
unless this Agreement has previously been terminated under Article V or this Section 8.12. SpinCo shall be (i) relieved of the obligation to pay Charges for the affected Service(s) throughout the duration of
such Force Majeure and (ii) entitled to permanently terminate such Service(s) if the delay or failure in providing such Services because of a Force Majeure shall continue to exist for more than thirty (30) consecutive days (it being
understood that SpinCo shall not be required to provide any advance notice of such termination to Parent). 
 Section 8.13.
Headings. The Article, Section and Paragraph headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. 

Section 8.14. Survival of Covenants. Except as expressly set forth in this Agreement, the covenants, representations and
warranties and other agreements contained in this Agreement, and Liability for the breach of any obligations contained herein, shall survive the Effective Time and shall remain in full force and effect thereafter. 

Section 8.15. Waivers of Default. Waiver by any Party of any default by the other Party of any provision of this Agreement shall
not be deemed a waiver by the waiving Party of any subsequent or other default, nor shall it prejudice the rights of the waiving Party. No failure or delay by any Party in exercising any right, power or privilege under this Agreement shall operate
as a waiver thereof, nor shall a single or partial exercise thereof prejudice any other or further exercise thereof or the exercise of any other right, power or privilege. 

Section 8.16. Dispute Resolution. 

(a) In the event of any controversy, dispute or claim (a “Dispute”) arising out of or relating to any Party’s rights or
obligations under this Agreement (whether arising in contract, tort or otherwise), calculation or allocation of the costs of any Service or otherwise arising out of or relating in any way to this Agreement (including the interpretation or validity
of this Agreement), such Dispute shall be resolved in accordance with the dispute resolution process referred to in Article VII of the Separation and Distribution Agreement. 

  
 -19- 

 (b) In any Dispute regarding the amount of a Charge or a Termination Charge, if such Dispute is
finally resolved pursuant to the dispute resolution process set forth or referred to in Section 8.16(a) and it is determined that the Charge or the Termination Charge, as applicable, that Parent has invoiced SpinCo, and that SpinCo has paid
to Parent, is greater or less than the amount that the Charge or the Termination Charge, as applicable, should have been, then (i) if it is determined that SpinCo has overpaid the Charge or the Termination Charge, as applicable, Parent shall
within ten (10) calendar days after such determination reimburse SpinCo an amount of cash equal to such overpayment, plus the Interest Payment, accruing from the date of payment by SpinCo to the time of reimbursement by Parent; and (ii) if
it is determined that SpinCo has underpaid the Charge or the Termination Charge, as applicable, SpinCo shall within ten (10) calendar days after such determination reimburse Parent an amount of cash equal to such underpayment, plus the Interest
Payment, accruing from the date such payment originally should have been made by SpinCo to the time of payment by SpinCo. 

Section 8.17. Specific Performance. Subject to Section 8.16, in the event of any actual or threatened
default in, or breach of, any of the terms, conditions and provisions of this Agreement, the Party or Parties who are, or are to be, thereby aggrieved shall have the right to specific performance and injunctive or other equitable relief (on an
interim or permanent basis) in respect of its rights or their rights under this Agreement, in addition to any and all other rights and remedies at law or in equity, and all such rights and remedies shall be cumulative. The Parties agree that the
remedies at law for any breach or threatened breach are inadequate compensation for any loss and that any defense in any Action for specific performance that a remedy at law would be adequate is waived. Any requirements for the securing or posting
of any bond with such remedy are hereby waived by each of the Parties. Unless otherwise agreed in writing, Parent shall continue to provide Services and the Parties shall honor all other commitments under this Agreement during the course of dispute
resolution pursuant to the provisions of Section 8.16 and this Section 8.17 with respect to all matters not subject to such Dispute; provided, however, that this obligation shall only
exist during the term of this Agreement. 
 Section 8.18. Amendments. No provisions of this Agreement shall be deemed waived,
amended, supplemented or modified by a Party, unless such waiver, amendment, supplement or modification is in writing and signed by the authorized representative of the Party against whom enforcement of such waiver, amendment, supplement or
modification is sought. 
 Section 8.19. Precedence of Schedules. Each Schedule attached to or referenced in this Agreement is
hereby incorporated into and shall form a part of this Agreement; provided, however, that the terms contained in such Schedule shall only apply with respect to the Services provided under that Schedule. In the event of a conflict
between the terms contained in an individual Schedule and the terms in the body of this Agreement, the terms in the Schedule shall take precedence with respect to the Services under such Schedule only. No terms contained in individual Schedules
shall otherwise modify the terms of this Agreement. 
 Section 8.20. Interpretation. In this Agreement, (a) words in the
singular shall be deemed to include the plural and vice versa and words of one gender shall be deemed to include the other genders as the context requires; (b) the terms “hereof,” “herein” and “herewith” and words
of similar import shall, unless otherwise stated, be construed to refer to this Agreement as 

  
 -20- 

 
a whole (including all of the Schedules, Annexes and Exhibits hereto) and not to any particular provision of this Agreement; (c) Article, Section, Exhibit, Annex and Schedule references are
to the Articles, Sections, Exhibits, Annexes and Schedules to this Agreement unless otherwise specified; (d) unless otherwise stated, all references to any agreement shall be deemed to include the exhibits, schedules and annexes to such
agreement; (e) the word “including” and words of similar import when used in this Agreement shall mean “including, without limitation,” unless otherwise specified; (f) the word “or” shall not be exclusive;
(g) unless otherwise specified in a particular case, the word “days” refers to calendar days; (h) references to “business day” shall mean any day other than a Saturday, a Sunday or a day on which banking institutions
are generally authorized or required by Law to close in New York, New York; (i) references herein to this Agreement or any other agreement contemplated herein shall be deemed to refer to this Agreement or such other agreement as of the date on
which it is executed and as it may be amended, modified or supplemented thereafter, unless otherwise specified; and (j) unless expressly stated to the contrary in this Agreement, all references to “the date hereof,” “the date of
this Agreement,” “hereby” and “hereupon” and words of similar import shall all be references to [●]. 

Section 8.21. Mutual Drafting(a) . This Agreement shall be deemed to be the joint work product of the Parties and any rule of
construction that a document shall be interpreted or construed against a drafter of such document shall not be applicable to this Agreement. 

[Remainder of page intentionally left blank] 

  
 -21- 

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

			
	    TEGNA INC.
		
	 By:    
	 	  

		 	Name:  Todd A. Mayman
		 	Title:    Executive Vice President, Chief
		 	             Legal and Administrative Officer

  

			
	CARS.COM INC.
		
	 By:    
	 	  

		 	Name: Todd A. Mayman
		 	Title:   Vice President

 [Signature Page to Transition Services Agreement]

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