Document:

EX-4.1

 Exhibit 4.1 

REGISTRATION RIGHTS AGREEMENT 

THIS REGISTRATION RIGHTS AGREEMENT (the “Agreement”), dated August 18, 2016, is made between ONCOR ELECTRIC DELIVERY
COMPANY LLC (the “Company”) and Barclays Capital Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated, as representatives of the Initial Purchasers (collectively, the “Representatives,” and each a
“Representative”). 
 This Agreement is made pursuant to the Purchase Agreement dated August 15, 2016 (the
“Purchase Agreement”), between the Company, as issuer, and the Representatives, as representatives of the Initial Purchasers, which provides for, among other things, the several sales by the Company to the Initial Purchasers of
$175,000,000 principal amount of the Company’s 3.750% Senior Secured Notes due 2045 (the “Notes”). In order to induce the Initial Purchasers to enter into the Purchase Agreement, the Company has agreed to provide to the Initial
Purchasers and the Initial Purchasers’ direct and indirect transferees the registration rights set forth in this Agreement. The execution and delivery of this Agreement is a condition to the closing under the Purchase Agreement. 

In consideration of the foregoing, the parties hereto agree as follows: 

 

	 	1.	Definitions. 

 As used in this Agreement, the following capitalized defined terms shall
have the following meanings: 
 “Additional Interest” shall mean any interest payable pursuant to Section 2(e) hereof.

 “Additional Interest Rate” shall have the meaning set forth in Section 2(e) hereof. 

“Advice” shall have the meaning set forth in the last paragraph of Section 3 hereof. 

“Agreement” shall mean have the meaning set forth in the preamble hereof. 

“Applicable Period” shall have the meaning set forth in Section 3(t) hereof. 

“Business Day” shall mean a day other than (i) a Saturday or a Sunday, (ii) a day on which banks in New York, New
York are authorized or obligated by law or executive order to remain closed or (iii) a day on which the Trustee’s principal corporate trust office is closed for business. 

“Company” shall have the meaning set forth in the preamble to this Agreement. 

“Depositary” shall mean The Depository Trust Company, or any other depositary appointed by the Company; provided, however,
that such depositary must have an address in the Borough of Manhattan, in The City of New York. 
 “Effectiveness Period”
shall have the meaning set forth in Section 2(b) hereof. 

 “Eligible Holder” shall have the meaning set forth in Section 2(a) hereof.

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

“Exchange Notes” shall mean the 3.750% Senior Secured Notes due 2045 containing terms identical to the Notes (except that the
Exchange Notes will not contain registration rights or terms with respect to transfer restrictions under the Securities Act and will not provide for any Additional Interest to be payable with respect thereto). 

“Exchange Offer” shall mean the offer by the Company to the Holders to exchange the Registrable Securities for a like
principal amount of Exchange Notes pursuant to Section 2(a) hereof. 
 “Exchange Offer Registration” shall mean a
registration under the Securities Act effected pursuant to Section 2(a) hereof. 
 “Exchange Offer Registration
Statement” shall mean an exchange offer registration statement on Form S-4 (or, if applicable, on another appropriate form), and all amendments and supplements to such registration statement, in each case including the Prospectus contained
therein, all exhibits thereto and all material incorporated by reference therein. 
 “Exchange Period” shall have the
meaning set forth in Section 2(a) hereof. 
 “Existing Securities” shall mean the Company’s 3.750% Senior Secured
Notes due 2045 registered under the Securities Act and issued under the Indenture pursuant to the exchange offer consummated on or about October 27, 2015. 

“FINRA” shall mean Financial Industry Regulatory Authority, Inc. 

“Holders” shall mean the Initial Purchasers, for so long as they own beneficial interests in any Registrable Securities, and
each of their respective successors, assigns and direct and indirect transferees who become registered owners of Registrable Securities under the Indenture. 

“Indemnified Party” shall have the meaning set forth in Section 4(a) hereof. 

“Indenture” shall mean the Indenture (For Unsecured Debt Securities) relating to the Notes and the Exchange Notes dated as of
August 1, 2002 between the Company, as issuer, and The Bank of New York Mellon, as Trustee, as the same may be amended from time to time in accordance with the terms thereof. 

“Initial Purchasers” shall have the meaning set forth in the Purchase Agreement. 

“Inspectors” shall have the meaning set forth in Section 3(n) hereof. 

“Issue Date” shall mean the date of original issuance of the Notes. 

  
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 “Majority Holders” shall mean the Holders of a majority of the aggregate
principal amount of applicable outstanding Notes. 
 “Notes” shall have the meaning set forth in the preamble of this
Agreement. 
 “Notice” shall have the meaning set forth in Section 2(a) hereof. 

“Participating Broker-Dealer” shall have the meaning set forth in Section 3(t) hereof. 

“Person” shall mean an individual, partnership, corporation, trust or unincorporated organization, limited liability company,
or a government or agency or political subdivision thereof. 
 “Prospectus” shall mean the prospectus included in a
Registration Statement, including any preliminary prospectus, and any such prospectus as amended or supplemented by any prospectus supplement, including a prospectus supplement with respect to the terms of the offering of any portion of the
Registrable Securities covered by a Shelf Registration Statement, and by all other amendments and supplements to a prospectus, including post-effective amendments, and in each case including all material incorporated by reference therein. 

“Purchase Agreement” shall have the meaning set forth in the preamble of this Agreement. 

“Records” shall have the meaning set forth in Section 3(n) hereof. 

“Registrable Securities” shall mean the Notes; provided, however, that the Notes shall cease to be Registrable Securities
when (i) a Registration Statement with respect to the Notes shall have been declared effective under the Securities Act and the Notes shall have been disposed of pursuant to such Registration Statement, (ii) the Notes shall have been sold
to the public pursuant to Rule 144 (or any similar provision then in force, but not Rule 144A) under the Securities Act, (iii) the Notes shall have ceased to be outstanding, (iv) the Notes offered for exchange shall have been exchanged for
Exchange Notes upon consummation of the Exchange Offer and are thereafter freely tradable by the holder thereof (other than an affiliate of the Company) or (v) two years have elapsed since the date of original issuance of the Notes. 

“Registration Default” shall have the meaning set forth in Section 2(e) hereof. 

“Registration Expenses” shall mean any and all expenses incident to the performance of or the compliance by the Company with
this Agreement, including, without limitation: (i) all SEC or FINRA registration and filing fees; (ii) all fees and expenses incurred in connection with compliance with state securities or blue sky laws (including reasonable fees and
disbursements of counsel for any underwriters or Holders in connection with blue sky qualification of any of the Exchange Notes or Registrable Securities) and compliance with the rules of FINRA, (iii) all expenses of any Persons in preparing or
assisting in preparing, word processing, printing and distributing any Registration Statement, any Prospectus and any amendments or supplements thereto, and in preparing or assisting in preparing, printing and distributing any Registration
Statement, any Prospectus and any amendments or supplements thereto, and in preparing or assisting in preparing, printing and distributing any underwriting agreements, securities sales 

  
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agreements and other documents relating to the performance of and compliance with this Agreement, (iv) all rating agency fees, (v) the fees and disbursements of counsel for the Company,
of one counsel for the Holders collectively hereunder in connection with the Exchange Offer, and of the independent certified public accountants of the Company, including the expenses of any “cold comfort” letters required by or incident
to such performance and compliance, (vi) the fees and expenses of the Trustee, and any paying agent, exchange agent or custodian, (vii) all fees and expenses incurred in connection with the listing, if any, of any of the Registrable
Securities or the Exchange Notes on any securities exchange or exchanges and (viii) the reasonable fees and expenses of any special experts retained by the Company in connection with any Registration Statement. 

“Registration Statement” shall mean any registration statement of the Company that covers any of the Exchange Notes or
Registrable Securities pursuant to the provisions of this Agreement, and all amendments and supplements to any such Registration Statement, including post-effective amendments, in each case including the Prospectus contained therein, all exhibits
thereto and all material incorporated by reference therein. 
 “Representative” shall have the meaning set forth in the
preamble of this Agreement. 
 “SEC” shall mean the Securities and Exchange Commission. 

“Securities Act” shall mean the Securities Act of 1933, as amended from time to time. 

“Shelf Registration” shall mean a registration effected pursuant to Section 2(b) hereof. 

“Shelf Registration Statement” shall mean a “shelf” registration statement of the Company pursuant to the
provisions of Section 2(b) hereof which covers all of the Registrable Securities (except Registrable Securities that the Holders thereof have elected not to include in such registration statement), on an appropriate form under Rule 415 under
the Securities Act, or any similar rule that may be adopted by the SEC, and all amendments and supplements to such registration statement, including post-effective amendments, in each case including the Prospectus contained therein, all exhibits
thereto and all material incorporated by reference therein. 
 “TIA” shall mean the Trust Indenture Act of 1939, as amended
from time to time. 
 “Trustee” shall mean The Bank of New York Mellon Trust Company, N.A. (as successor to The Bank of New
York Mellon, formerly the Bank of New York). 
  

	 	2.	Registration Under the Securities Act. 

  

	 	(a)	Exchange Offer. 

 To the extent not prohibited by any applicable law or applicable
interpretation of the staff of the SEC, the Company shall, for the benefit of the Holders, at the Company’s cost, (i) cause to be filed with the SEC an Exchange Offer Registration Statement on an appropriate form under the Securities Act
covering the Exchange Offer, (ii) use all commercially reasonable efforts to cause such Exchange Offer Registration Statement to be declared effective under the 

  
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Securities Act by the SEC not later than the date which is 270 days after the Issue Date and (iii) promptly offer the Exchange Notes in exchange for surrender of the Notes upon the
effectiveness of the Exchange Offer Registration Statement, and consummate the Exchange Offer within 315 days after the Issue Date. Upon the effectiveness of the Exchange Offer Registration Statement, the Company shall promptly commence the Exchange
Offer, unless the Exchange Offer would not be permitted by applicable law or applicable interpretation of the staff of the SEC, it being understood that the objective of such Exchange Offer is to enable each Holder electing to exchange Registrable
Securities for a like principal amount of Exchange Notes (assuming that such Holder is not an affiliate of the Company within the meaning of Rule 405 under the Securities Act and is not a broker-dealer tendering Registrable Securities acquired
directly from the Company for its own account, acquires the Exchange Notes in the ordinary course of such Holder’s business and has no arrangements or understandings with any Person to participate in the Exchange Offer for the purpose of
distributing the Exchange Notes) (any Holder meeting all such requirements, hereinafter an “Eligible Holder”), and to transfer such Exchange Notes from and after their receipt without any limitations or restrictions under the
Securities Act and under state securities or blue sky laws. 
 In connection with the Exchange Offer, the Company shall: 

(i) furnish to each Holder a copy of the Prospectus forming part of the Exchange Offer Registration Statement, together with an
appropriate letter of transmittal and related documents (together, the “Notice”); 
 (ii) use all
commercially reasonable efforts to keep the Exchange Offer open for acceptance for a period of not less than 20 Business Days after the date Notice thereof is furnished to the Holders (or longer if required by applicable law) (such period referred
to herein as the “Exchange Period”); 
 (iii) utilize the services of the Depositary for the Exchange Offer;

 (iv) permit Holders to withdraw, at any time prior to the close of business, New York time, on the last Business Day of
the Exchange Period, any Notes tendered for exchange by sending to the institution specified in the Notice, a telegram, telex, facsimile transmission or letter, received before aforesaid time, setting forth the name of such Holder, the principal
amount of Notes delivered for exchange, and a statement that such Holder is withdrawing his election to have such Notes exchanged; 

(v) notify each Holder by means of the Notice that any Note not tendered by such Holder in the Exchange Offer will remain
outstanding and continue to accrue interest, but will not retain any rights under this Agreement (except in the case of the Initial Purchasers and Participating Broker-Dealers as provided herein); and 

(vi) otherwise comply in all respects with all applicable laws relating to the Exchange Offer. 

As soon as practicable after the close of the Exchange Offer, the Company shall: 

  
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 (i) accept for exchange all Notes or portions thereof tendered and not validly
withdrawn pursuant to the Exchange Offer; 
 (ii) deliver, or cause to be delivered, to the Trustee for cancellation all
Notes or portions thereof so accepted for exchange by the Company; and 
 (iii) issue, and cause the Trustee to promptly
authenticate and deliver to the Depositary (or if, the Exchange Notes are in certificated form, each Holder), Exchange Notes and equal in principal amount to the principal amount of the Notes surrendered by such Holder. 

Interest on each Exchange Note issued pursuant to the Exchange Offer will accrue from the last date on which interest was paid on the Note
surrendered in exchange therefor or, if no interest has been paid on such Note, from the Issue Date. To the extent not prohibited by any law or applicable interpretation of the staff of the SEC, the Company shall use all commercially reasonable
efforts to complete the Exchange Offer as provided above. Except as set forth herein, the Exchange Offer shall not be subject to any conditions, other than that the Exchange Offer does not violate applicable law or any applicable interpretation of
the staff of the SEC and that each Holder tendering Notes for exchange shall be an Eligible Holder. Each Holder of Registrable Securities who wishes to exchange such Registrable Securities for Exchange Notes in the Exchange Offer will be required to
make certain customary representations in connection therewith, including, without limitation, representations that (i) it is not an affiliate of the Company, (ii) the Exchange Notes to be received by it were acquired in the ordinary
course of its business and (iii) at the time of the Exchange Offer, it has no arrangement with any Person to participate in the distribution (within the meaning of the Securities Act) of the Exchange Notes. Each Holder hereby acknowledges and
agrees that any Participating Broker-Dealer and any such Holder using the Exchange Offer to participate in a distribution of the Exchange Notes: (1) could not under SEC policy as in effect on the date of this Agreement rely on the position of
the SEC enunciated in Brown & Wood LLP (available February 7, 1997), Morgan Stanley and Co., Inc. (available June 5, 1991) and Exxon Capital Holdings Corporation (available May 13, 1988), as interpreted in the SEC’s
letter to Shearman & Sterling dated July 2, 1993, and similar no-action letters (including, without limitation, any no-action letter obtained based on the representations in clause (i) above), and (2) must comply with the
registration and prospectus delivery requirements of the Securities Act in connection with the secondary resale transaction and that such a secondary resale transaction should be covered by an effective registration statement containing the selling
security holder information required by Item 507 and 508, as applicable, of Regulation S-K, the SEC standard instructions for filing forms under the Securities Act, if the resales are of Exchange Notes obtained by such Holder in exchange for
Notes acquired by such Holder directly from the Company. 
 Upon consummation of the Exchange Offer in accordance with this
Section 2(a), the provisions of this Agreement shall continue to apply, mutatis mutandis, solely with respect to Registrable Securities that are Exchange Notes held by Participating Broker-Dealers, and the Company shall have no further
obligation to register the Registrable Securities (other than pursuant to Section 2(b)(iii)) pursuant to Section 2(b) of this Agreement. 

  
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	 	(b)	Shelf Registration. 

 In the event that (i) the Company is not permitted to effect
the Exchange Offer because of any change in law or in applicable interpretations of the staff of the SEC, (ii) for any other reason the Exchange Offer is not consummated on or prior to 315 days after the Issue Date, (iii) any Initial
Purchaser so requests with respect to Notes not eligible to be exchanged for Exchange Notes in the Exchange Offer, (iv) any Holder (other than a Participating Broker-Dealer) is not permitted by applicable law or interpretations of the staff of
the SEC to participate in the Exchange Offer or, in the case of any Holder (other than a Participating Broker-Dealer) that participates in the Exchange Offer, such Holder does not receive freely tradeable Exchange Notes on the date of the exchange
and any such Holder so requests, or (v) the Company so elects, the Company shall, for the benefit of the Holders, promptly deliver to the Holders and the Trustee written notice thereof and, at its cost, use all commercially reasonable efforts
to have a Shelf Registration Statement covering continuous resales of the Notes or the Exchange Notes, as the case may be, declared effective by the SEC within the later of (x) 180 days after being required or requested to file a Shelf
Registration Statement and (y) 270 days after the Issue Date. No Holder of Registrable Securities shall be entitled to include any of its Registrable Securities in any Shelf Registration Statement pursuant to this Agreement unless and until
such Holder agrees in writing to be bound by all of the provisions of this Agreement applicable to such Holder and furnishes to the Company in writing, within 15 days after receipt of a request therefor, such information as the Company may, after
conferring with counsel with regard to information relating to Holders that would be required by the SEC to be included in such Shelf Registration Statement or Prospectus included therein, reasonably request for inclusion in any Shelf Registration
Statement or Prospectus included therein. Each Holder as to which any Shelf Registration is being effected agrees promptly to furnish to the Company all information with respect to such Holder necessary to make the information previously furnished
to the Company by such Holder not materially misleading. 
 The Company agrees to use all commercially reasonable efforts to keep the Shelf
Registration Statement continuously effective for two years from the Issue Date (subject to extension pursuant to the last paragraph of Section 3 hereof) or for such shorter period which will terminate when all of the securities covered by the
Shelf Registration Statement have been sold pursuant to the Shelf Registration Statement or cease to be Registrable Securities (the “Effectiveness Period”). The Company shall not permit any securities other than Registrable
Securities to be included in the Shelf Registration. The Company will, in the event a Shelf Registration Statement is declared effective, provide to each Holder a reasonable number of copies of the Prospectus which is a part of the Shelf
Registration Statement and notify each such Holder when the Shelf Registration has become effective. The Company further agrees, if necessary, to supplement or amend the Shelf Registration Statement, if required by the rules, regulations or
instructions applicable to the registration form used by the Company for such Shelf Registration Statement or by the Securities Act or by any other rules and regulations thereunder for shelf registrations, and the Company agrees to furnish to the
Holders of Registrable Securities copies of any such supplement or amendment promptly after its being used or filed with the SEC. 

  
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	 	(c)	Expenses. 

 The Company shall pay all Registration Expenses in connection with the
registration pursuant to Section 2(a) or 2(b) hereof. Except as provided herein, each Holder shall pay all expenses of its counsel, underwriting discounts and commissions and transfer taxes, if any, relating to the sale or disposition of such
Holder’s Registrable Securities pursuant to the Shelf Registration Statement. 
  

	 	(d)	Effective Registration Statement. 

 An Exchange Offer Registration Statement pursuant to
Section 2(a) hereof or a Shelf Registration Statement pursuant to Section 2(b) hereof (or a combination of the two) will not be deemed to have become effective unless it has been declared effective by the SEC; provided, however, that if,
after it has been declared effective, the offering of Registrable Securities pursuant to a Shelf Registration Statement is interfered with by any stop order, injunction or other order or requirement of the SEC or any other governmental agency or
court, such Registration Statement will be deemed not to have been effective during the period of such interference, until the offering of Registrable Securities pursuant to such Registration Statement may legally resume. The Company will be deemed
not to have used all commercially reasonable efforts to cause the Exchange Offer Registration Statement or the Shelf Registration Statement, as the case may be, to become, or to remain, effective during the requisite period if it voluntarily takes
any action that would result in any such Registration Statement not being declared effective or in the Holders of Registrable Securities covered thereby not being able to exchange or offer and sell such Registrable Securities during that period
unless such action is required by applicable law. 
  

	 	(e)	Additional Interest. 

 The Company will pay Additional Interest on the Notes if: 

(i) the Exchange Offer Registration Statement (or, if a change in law or in applicable interpretations of the staff of the SEC
does not permit the Company to effect an Exchange Offer, the Shelf Registration Statement) is not declared effective by the SEC within 270 days after the Issue Date; or 

(ii) the Exchange Offer is not consummated within 315 days after the Issue Date (unless the Company is not permitted to effect
an Exchange Offer as specified in clause (i) above); or 
 (iii) the Shelf Registration Statement (except as specified
in clause (i)) is not declared effective by the SEC within the later of (x) 180 days after being requested to file a Shelf Registration Statement and (y) 270 days after the Issue Date; or 

(iv) (A) after the Exchange Offer Registration Statement is declared effective, such Registration Statement thereafter ceases
to be effective at any time during the Exchange Period or the Applicable Period, as the case may be, or (B) after the Shelf Registration Statement has been declared effective, such Registration Statement ceases to be effective or usable in
connection with resales of Notes (other than after such time as 

  
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all Notes have been disposed of thereunder or otherwise cease to be Registrable Securities) (each such event specified in (i) - (iv) of this Section 2(e), a “Registration
Default”). 
 Additional Interest will accrue over and above the otherwise applicable interest rate on the Notes and the Exchange Notes, as the
case may be, from and including the date on which any such Registration Default shall occur to but excluding the date on which all such Registration Defaults have been cured, or if earlier, the date two years from the Issue Date, at the rate of
0.50% per annum (“Additional Interest Rate”); provided, however, that the Additional Interest Rate may not exceed in the aggregate 0.50% per annum. 

Any amounts of Additional Interest due pursuant to Section 2(e) above will be payable in cash on the relevant payment dates for the
payment of interest on the Notes pursuant to the Indenture. 
  

	 	(f)	Specific Enforcement. 

 Without limiting the remedies available to the Holders, the
Company acknowledges that any failure of the Company to comply with its obligations under Section 2(a) and Section 2(b) hereof may result in material irreparable injury to the Holders for which there is no adequate remedy at law, that it
would not be possible to measure damages for such injuries precisely and that, in the event of any such failure, any Holder may obtain such relief as may be required to specifically enforce the obligations of the Company under Section 2(a) and
Section 2(b) hereof. 
  

	 	3.	Registration Procedures. 

 In connection with the obligations of the Company with respect
to the Registration Statements pursuant to Sections 2(a) and 2(b) hereof, the Company shall: 
 (a) prepare and file with the SEC a
Registration Statement or Registration Statements as prescribed by Sections 2(a) and 2(b) hereof within the relevant time period specified and on the appropriate form(s) under the Securities Act, which form(s) (i) shall be selected by the
Company, (ii) shall, in the case of a Shelf Registration, be available for the sale of the Registrable Securities by the selling Holders thereof and (iii) shall comply as to form in all material respects with the requirements of the
applicable form and include all financial statements required by the SEC to be filed therewith; and use all commercially reasonable efforts to cause such Registration Statement(s) to become effective and remain effective in accordance with
Section 2 hereof; provided, however, that if (1) such filing is pursuant to Section 2(b), or (2) a Prospectus contained in an Exchange Offer Registration Statement filed pursuant to Section 2(a) is required to be delivered
under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Notes, before filing any such Registration Statement or Prospectus or any amendments or supplements thereto, the Company shall furnish to and afford the Holders
of the Registrable Securities and each such Participating Broker-Dealer, as the case may be, covered by such Registration Statement, their counsel and the managing underwriters, if any, a reasonable opportunity to review copies of all such documents
(including copies of any documents to be incorporated by reference therein and all exhibits thereto) proposed to be filed. The Company 

  
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shall not file any Registration Statement or Prospectus or any amendments or supplements thereto in respect of which the Holders must be afforded an opportunity to review prior to the filing of
such document if the Majority Holders or such Participating Broker-Dealer, as the case may be, their counsel or the managing underwriters, if any, shall reasonably object; 

(b) prepare and file with the SEC such amendments and post-effective amendments to each Registration Statement as may be necessary to keep
such Registration Statement effective for the Effectiveness Period or the Applicable Period, as the case may be, and cause each Prospectus to be supplemented, if so determined by the Company or requested by the SEC, by any required prospectus
supplement and as so supplemented to be filed pursuant to Rule 424 (or any similar provision then in force) under the Securities Act, and comply with the provisions of the Securities Act, the Exchange Act and the rules and regulations promulgated
thereunder applicable to it with respect to the disposition of all securities covered by each Registration Statement during the Effectiveness Period or the Applicable Period, as the case may be, in accordance with the intended method or methods of
distribution by the selling Holders thereof described in this Agreement (including sales by any Participating Broker-Dealer); 
 (c) in the
case of a Shelf Registration, (i) notify each Holder of Registrable Securities included in the Shelf Registration Statement, at least three Business Days prior to filing, that a Shelf Registration Statement with respect to the Registrable
Securities is being filed and advise such Holder that the distribution of Registrable Securities will be made in accordance with the method selected by the Majority Holders, (ii) furnish to each Holder of Registrable Securities included in the
Shelf Registration Statement and to each underwriter of an underwritten offering of Registrable Securities, if any, without charge, as many copies of each Prospectus, including each preliminary prospectus, and any amendment or supplement thereto and
such other documents as such Holder or underwriter may reasonably request, in order to facilitate the public sale or other disposition of the Registrable Securities, (iii) consent to the use of the Prospectus or any amendment or supplement
thereto by each of the selling Holders of Registrable Securities included in the Shelf Registration Statement in connection with the offering and sale of the Registrable Securities covered by the Prospectus or any amendment or supplement thereto and
(iv) furnish to each Holder of Registrable Securities either a summary of the terms of this Agreement or a copy of this Agreement; 

(d) in the case of a Shelf Registration, register or qualify the Registrable Securities under all applicable state securities or “blue
sky” laws of such jurisdictions by the time the applicable Registration Statement is declared effective by the SEC as any Holder of Registrable Securities covered by a Registration Statement and each underwriter of an underwritten offering of
Registrable Securities shall reasonably request in writing in advance of such date of effectiveness; provided, however, that the Company shall not be required to (i) qualify as a foreign corporation or as a dealer in securities in any
jurisdiction where it would not otherwise be required to qualify but for this Section 3(d), (ii) file any general consent to service of process in any jurisdiction where it would not otherwise be subject to such service of process or
(iii) file annual reports or comply with any other requirements deemed in its reasonable judgment to be unduly burdensome; 
 (e) in
the case (1) of a Shelf Registration or (2) Participating Broker-Dealers from whom the Company has received prior written notice that they will be utilizing the 

  
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Prospectus contained in the Exchange Offer Registration Statement as provided in Section 3(t) hereof, are seeking to sell Exchange Notes and are required to deliver Prospectuses, promptly
notify each Holder of Registrable Securities, or each such Participating Broker-Dealer, as the case may be, their counsel and the managing underwriters, if any, and promptly confirm such notice in writing (i) when a Registration Statement has
become effective and when any post-effective amendments and supplements thereto become effective, (ii) of any request by the SEC or any state securities authority for amendments and supplements to a Registration Statement or Prospectus or for
additional information after the Registration Statement has become effective, (iii) of the issuance by the SEC or any state securities authority of any stop order suspending the effectiveness of a Registration Statement or the qualification of
the Registrable Securities or the Exchange Notes to be offered or sold by any Participating Broker-Dealer in any jurisdiction described in paragraph 3(d) hereof or the initiation of any proceedings for that purpose, (iv) in the case of a Shelf
Registration, if, between the effective date of a Registration Statement and the closing of any sale of Registrable Securities covered thereby, the representations and warranties of the Company contained in any purchase agreement, securities sales
agreement or other similar agreement related to such sale, if any, cease to be true and correct in all material respects, (v) of the happening of any event or the failure of any event to occur or the discovery of any facts or otherwise, during
the Effectiveness Period which makes any statement made in such Registration Statement or the related Prospectus untrue in any material respect or which causes such Registration Statement or Prospectus to omit to state a material fact necessary to
make the statements therein, in the light of the circumstances under which they were made, not misleading and (vi) when the Company reasonably determines that a post-effective amendment to the Registration Statement would be appropriate; 

(f) make every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of a Registration Statement at the
earliest possible moment; 
 (g) in the case of a Shelf Registration, furnish to each Holder of Registrable Securities included within the
coverage of such Shelf Registration Statement, without charge, at least one conformed copy of each Registration Statement relating to such Shelf Registration and any post effective amendment thereto (without documents incorporated therein by
reference or exhibits thereto, unless requested); 
 (h) in the case of a Shelf Registration, cooperate with the selling Holders of
Registrable Securities to facilitate the timely preparation and delivery of certificates (if the Registrable Securities are in certificated form) representing Registrable Securities to be sold and not bearing any restrictive legends and in such
denominations (consistent with the provisions of the Indenture) and registered in such names as the selling Holders or the underwriters, if any, may reasonably request at least two Business Days prior to the closing of any sale of Registrable
Securities pursuant to such Shelf Registration Statement; 
 (i) in the case of a Shelf Registration or an Exchange Offer Registration, upon
the occurrence of any circumstance contemplated by Section 3(e)(ii), 3(e)(iv), 3(e)(v) or 3(e)(vi) hereof, prepare a supplement or post-effective amendment to a Registration Statement or the related Prospectus or any document incorporated
therein by reference or file any other required document so that, as thereafter delivered to the purchasers of the Registrable Securities, such Prospectus will not contain any untrue statement of a material fact or omit to state a

  
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material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading and notify each Holder to suspend use of the Prospectus as
promptly as practicable after the occurrence of such an event, and each Holder hereby agrees to suspend use of the Prospectus until the Company has amended or supplemented the Prospectus to correct such misstatement or omission; 

(j) in the case of a Shelf Registration, a reasonable time prior to the filing of any document which is to be incorporated by reference into a
Registration Statement or a Prospectus after the initial filing of a Registration Statement, provide a reasonable number of copies of such document to the Holders and make such of the representatives of the Company as shall be reasonably requested
by the Holders of Registrable Securities or the Initial Purchasers on behalf of such Holders available for reasonable discussion of such document; 

(k) obtain a CUSIP number for the Exchange Notes, no later than the effective date of a Registration Statement, and cause such CUSIP number to
be the same as the CUSIP number applicable to the Existing Securities and provide the Trustee with printed certificates for the Exchange Notes or the Registrable Securities, as the case may be, in a form eligible for deposit with the Depositary;

 (l) cause the Indenture, if required by the TIA, to be qualified under the TIA in connection with the registration of the Exchange Notes
or Registrable Securities, as the case may be, and effect such changes to such documents as may be required for them to be so qualified in accordance with the terms of the TIA and execute, and use all commercially reasonable efforts to cause the
Trustee to execute, all documents as may be required to effect such changes, and all other forms and documents required to be filed with the SEC to enable such documents to be so qualified in a timely manner; 

(m) in the case of a Shelf Registration, enter into such agreements (including underwriting agreements) as are customary in underwritten
offerings and consistent with the terms of the Purchase Agreement and take all such other appropriate actions as are reasonably requested in order to expedite or facilitate the registration or the disposition of such Registrable Securities, and in
such connection, whether or not an underwriting agreement is entered into and whether or not the registration is with respect to an underwritten offering, if requested by (x) any Initial Purchaser, in the case where such Initial Purchaser holds
Registrable Securities acquired by such Initial Purchaser as part of the Initial Purchasers’ initial distribution and (y) other Holders of Notes covered thereby: (i) make such representations and warranties to Holders of such
Registrable Securities and the underwriters (if any), with respect to the business of the Company and its subsidiaries as then conducted and the Registration Statement, Prospectus and documents, if any, incorporated or deemed to be incorporated by
reference therein, in each case, as are customarily made by issuers to underwriters in underwritten offerings, and confirm the same if and when requested; (ii) obtain opinions of counsel to the Company and updates thereof (which may be in the
form of a reliance letter) in form and substance reasonably satisfactory to the managing underwriters (if any) and the Holders of a majority in principal amount of the Registrable Securities being sold, addressed to each selling Holder and the
underwriters (if any) covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such underwriters (it being agreed that the matters to be covered by such
opinions may be subject to customary qualifications and 

  
 12 

 
exceptions); (iii) obtain “cold comfort” letters and updates thereof in form and substance reasonably satisfactory to the managing underwriters (if any) from the independent
certified public accountants of the Company (and, if necessary, any other independent certified public accountants of any subsidiary of the Company or of any business acquired by the Company for which financial statements and financial data are, or
are required to be, included in the Registration Statement), addressed to each of such underwriters, such letters to be in customary form and covering matters of the type customarily covered in “cold comfort” letters in connection with
underwritten offerings and such other matters as reasonably requested by such underwriters in accordance with AU Section 634 and (iv) if an underwriting agreement is entered into, the same shall contain indemnification provisions and
procedures no less favorable than those set forth in Section 4 hereof (or such other provisions and procedures acceptable to Holders of a majority in aggregate principal amount of Registrable Securities covered by such Registration Statement
and the managing underwriters or agents) with respect to all parties to be indemnified pursuant to said Section (including, without limitation, such underwriters and selling Holders). The above shall be done at each closing under such underwriting
agreement or, as and to the extent required thereunder and as consistent with the terms of, the Purchase Agreement; 
 (n) if (1) a
Shelf Registration is filed pursuant to Section 2(b) hereof or (2) a Prospectus contained in an Exchange Offer Registration Statement filed pursuant to Section 2(a) is required to be delivered under the Securities Act by any
Participating Broker-Dealer who seeks to sell Exchange Notes during the Applicable Period, make reasonably available for inspection by any selling Holder of such Registrable Securities being sold, or each such Participating Broker-Dealer, as the
case may be, any underwriter participating in any such disposition of Registrable Securities, if any, and any attorney, accountant or other agent retained by any such selling Holder or each such Participating Broker-Dealer, as the case may be, or
underwriter (collectively, the “Inspectors”), at the offices where normally kept, during reasonable business hours, all financial and other records, pertinent corporate documents and properties of the Company and its subsidiaries
(collectively, the “Records”) as shall be reasonably necessary to enable the Inspectors to exercise any applicable due diligence responsibilities, and cause the officers, directors and employees of the Company and its subsidiaries
to supply all relevant information in each case reasonably requested by any such Inspector in connection with such Registration Statement; provided, however, that the foregoing inspection and information gathering shall be coordinated on behalf of
all such parties by the Company’s-designated Holders’ counsel, at the expense of such parties as described in Section 2(c) hereof. Records of the Company and its subsidiaries, which the Company determines, in good faith, to be
confidential and any records which it notifies the Inspectors are confidential shall not be disclosed by the Inspectors unless (i) the disclosure of such Records is necessary to avoid or correct a material misstatement or omission in such
Registration Statement, provided that the Company shall be consulted prior to any such disclosure, (ii) the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction or is necessary in
connection with any action, suit or proceeding or (iii) the information in such Records has been made available to the public by the Company or a third party that did not obtain the Records from a Broker-Dealer. Each selling Holder of such
Registrable Securities and each such Participating Broker-Dealer will be required to agree in writing that information obtained by it or any Inspector retained by it as a result of such inspections shall be deemed confidential and shall not be used
by it or any Inspector retained by it as the basis for any market transactions in the securities of the Company unless and until such is made generally available to 

  
 13 

 
the public. Each selling Holder of such Registrable Securities and each such Participating Broker-Dealer will be required to further agree in writing that it will, upon learning that disclosure
of such Records is sought in a court of competent jurisdiction, give notice to the Company and allow the Company at its expense to undertake appropriate action to prevent disclosure of the Records deemed confidential; 

(o) comply with all applicable rules and regulations of the SEC so long as any provision of this Agreement shall be applicable and make
generally available to its security holders an earning statement satisfying the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder (or any similar rule promulgated under the Securities Act) no later than 60 days after the
end of any 12-month period (or 120 days after the end of any 12-month period if such period is a fiscal year) (i) commencing at the end of any fiscal quarter in which Registrable Securities are sold to underwriters in a firm commitment or best
efforts underwritten offering and (ii) if not sold to underwriters in such an offering, commencing on the first day of the first fiscal quarter of the Company after the effective date of a Registration Statement, which statement shall cover
said 12-month periods; 
 (p) upon consummation of an Exchange Offer, if requested by the Trustee, obtain an opinion of counsel to the
Company addressed to the Trustee for the benefit of all Holders of Registrable Securities participating in the Exchange Offer and which includes an opinion that (i) the Company has duly authorized, executed and delivered the Exchange Notes,
(ii) each of the Exchange Notes constitutes a legal, valid and binding obligation of the Company, enforceable against the Company in accordance with its terms (with customary exceptions) and (iii) the Indenture has been duly qualified
under the TIA, or no such qualification is required by the TIA; 
 (q) if an Exchange Offer is to be consummated, upon delivery of the
Registrable Securities by Holders to the Company (or to such other Person as directed by the Company), in exchange for the Exchange Notes, mark, or cause to be marked, on such Registrable Securities delivered by such Holders that such Registrable
Securities are being cancelled in exchange for the Exchange Notes, and in no event shall such Registrable Securities be marked as paid or otherwise satisfied; 

(r) cooperate with each seller of Registrable Securities covered by any Registration Statement and each underwriter, if any, participating in
the disposition of such Registrable Securities covered by a Registration Statement contemplated hereby; 
 (s) use all commercially
reasonable efforts to take all other steps necessary to effect the registration of the Registrable Securities covered by a Registration Statement contemplated hereby; 

(t) (A) in the case of the Exchange Offer Registration Statement (i) (a) indicate in a “Plan of Distribution” section
contained in the Prospectus contained in the Exchange Offer Registration Statement that any broker or dealer registered under the Exchange Act who holds Notes that are Registrable Securities and that were acquired for its own account as a result of
market-making activities or other trading activities (other than Registrable Securities acquired directly from the Company) (such broker or dealer, a “Participating Broker-Dealer”), 

  
 14 

 
may exchange such Notes pursuant to the Exchange Offer; however, such Participating Broker-Dealer may be deemed to be an “underwriter” within the meaning of the Securities Act and must,
therefore, deliver a prospectus meeting the requirements of the Securities Act in connection with any resales of the Exchange Notes received by such Participating Broker-Dealer in the Exchange Offer, which prospectus delivery requirement may be
satisfied by the delivery by such Participating Broker-Dealer of the Prospectus contained in the Exchange Offer Registration Statement and (b) include in such “Plan of Distribution” section all other information with respect to such
resales by Participating Broker-Dealers that the SEC may require in order to permit such resales pursuant thereto, but such “Plan of Distribution” shall not name any such Participating Broker-Dealer or disclose the amount of Exchange Notes
held by any such Participating Broker-Dealer except to the extent required by the SEC as a result of a change in policy announced after the date of this Agreement, (ii) furnish to each Participating Broker-Dealer who has delivered to the
Company the notice referred to in Section 3(e), without charge, as many copies of the Prospectus included in the Exchange Offer Registration Statement, including any preliminary prospectus, and any amendment or supplement thereto, as such
Participating Broker-Dealer may reasonably request (the Company hereby consents to the use of the Prospectus forming part of the Exchange Offer Registration Statement or any amendment or supplement thereto by any Person subject to the prospectus
delivery requirements of the Securities Act, including all Participating Broker-Dealers, in connection with the sale or transfer of the Exchange Notes covered by the Prospectus or any amendment or supplement thereto), (iii) use all commercially
reasonable efforts to keep the Exchange Offer Registration Statement effective and to amend and supplement the Prospectus contained therein in order to permit such Prospectus to be lawfully delivered by all Persons subject to the prospectus delivery
requirements of the Securities Act for such period of time as such Persons must comply with such requirements under the Securities Act and applicable rules and regulations in order to resell the Exchange Notes; provided, however, that such period
shall not be required to exceed 90 days (or such longer period if extended pursuant to the last sentence of Section 3 hereof) (the “Applicable Period”) and (iv) include in the related letter of transmittal or similar
documentation to be executed by an exchange offeree in order to participate in the Exchange Offer (x) the following provision: 

“If the exchange offeree is a broker-dealer holding Registrable Securities acquired for its own account as a result of
market-making activities or other trading activities, it will deliver a prospectus meeting the requirements of the Securities Act in connection with any resale of Exchange Notes received in respect of such Registrable Securities pursuant to the
Exchange Offer,” 
 and (y) a statement to the effect that by a Participating Broker-Dealer making the acknowledgement described in clause
(x) and by delivering a Prospectus in connection with the exchange of Registrable Securities, the Participating Broker-Dealer will not be deemed to admit that it is an underwriter within the meaning of the Securities Act; and 

(B) in the case of any Exchange Offer Registration Statement, deliver to the Initial Purchasers or to another representative of the
Participating Broker-Dealers, if requested by the Initial Purchasers or such other representative of the Participating Broker-Dealers, on behalf of the Participating Broker-Dealers upon consummation of the Exchange

  
 15 

 
Offer (i) an opinion of counsel in form and substance reasonably satisfactory to the Initial Purchasers or such other representative of the Participating Broker-Dealers, covering the matters
customarily covered in opinions requested in connection with Exchange Offer Registration Statements and such other matters as may be reasonably requested (it being agreed that the matters to be covered by such opinion may be subject to customary
qualifications and exceptions), (ii) an officer’s certificate containing certifications substantially similar to those set forth in the certificate delivered pursuant to Section 8(d) of the Purchase Agreement and such additional
certifications as are customarily delivered in a public offering of debt securities and (iii) as well as upon the effectiveness of the Exchange Offer Registration Statement, a comfort letter, in each case, in customary form as permitted by AU
Section 634. Each of the foregoing shall be consistent with the terms of the Purchase Agreement. 
 The Company may require each seller
of Registrable Securities as to which any registration is being effected to furnish to the Company such information regarding such seller as may be required by the staff of the SEC to be included in a Registration Statement. The Company may exclude
from such registration the Registrable Securities of any seller who unreasonably fails to furnish such information within a reasonable time after receiving such request. The Company shall not have any obligation to register under the Securities Act
the Registrable Securities of a seller who so fails to furnish such information. 
 In the case (1) of a Shelf Registration Statement
or (2) Participating Broker-Dealers who have notified the Company that they will be utilizing the Prospectus contained in the Exchange Offer Registration Statement as provided in Section 3(t) hereof, are seeking to sell Exchange Notes and
are required to deliver Prospectuses, each Holder agrees that, upon receipt of any notice from the Company of the happening of any event of the kind described in Section 3(e)(ii), 3(e)(iii), 3(e)(iv), 3(e)(v) or 3(e)(vi) hereof, such Holder
will forthwith discontinue disposition of Registrable Securities pursuant to a Registration Statement until such Holder’s receipt of the copies of the supplemented or amended Prospectus contemplated by Section 3(i) hereof or until it is
advised in writing (the “Advice”) by the Company that the use of the applicable Prospectus may be resumed, and, if so directed by the Company, such Holder will deliver to the Company (at the Company’s expense) all copies in
such Holder’s possession, other than permanent file copies then in such Holder’s possession, of the Prospectus covering such Registrable Securities or Exchange Notes, as the case may be, current at the time of receipt of such notice. If
the Company shall give any such notice to suspend the disposition of Registrable Securities or Exchange Notes, as the case may be, pursuant to a Registration Statement, the Company shall file and use all commercially reasonable efforts to have
declared effective (if an amendment) as soon as practicable an amendment or supplement to the Registration Statement and shall extend the period during which such Registration Statement shall be maintained effective pursuant to this Agreement by the
number of days in the period from and including the date of the giving of such notice to and including the date when the Company shall have made available to the Holders (x) copies of the supplemented or amended Prospectus necessary to resume
such dispositions or (y) the Advice. 
  

	 	4.	Indemnification. 

 (a) In connection with any Registration Statement, the Company shall
indemnify and hold harmless each Initial Purchaser, each agent of each such Initial Purchaser, 

  
 16 

 
each Holder, each underwriter who participates in an offering of the Registrable Securities, each Participating Broker-Dealer, and each Person, if any, who controls any of such parties within the
meaning of Section 15 of the Securities Act (each an “Indemnified Party”) from and against any and all losses, claims, damages or liabilities, joint or several, to which they or any of them may become subject under the
Securities Act or any other statute or common law and shall reimburse each such Indemnified Party for any legal or other expenses reasonably incurred by them (including, to the extent hereinafter provided, reasonable counsel fees) as and when
incurred by them in connection with investigating any such losses, claims, damages or liabilities or in connection with defending any actions, insofar as such losses, claims, damages, liabilities, expenses or actions arise out of or are based upon
any untrue statement or alleged untrue statement of a material fact contained in any preliminary prospectus or Prospectus, or in a Registration Statement, or the omission or alleged omission to state therein a material fact required to be stated
therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided, however, that the indemnity agreement contained in this Section 4 as to any Indemnified Party shall not
apply to any such losses, claims, damages, liabilities, expenses or actions arising out of, or based upon, any such untrue statement or alleged untrue statement, or any such omission or alleged omission, if such statement or omission was made in
reliance upon and in conformity with information furnished in writing to the Company by such Indemnified Party expressly for use in connection with the preparation of a Registration Statement or the related Prospectus or any amendment or supplement
to either thereof. The indemnity agreement of the Company contained in this Section 4 shall remain operative and in full force and effect regardless of any termination of this Agreement or of any investigation made by or on behalf of any
Indemnified Party, and shall survive the registration of the Registrable Securities. 
 (b) Each Holder shall indemnify, defend and hold
harmless the Company and any underwriter and other selling Holder, and their respective officers and directors, and each Person who controls the Company or any underwriter or any other selling Holder within the meaning of Section 15 of the
Securities Act, from and against any and all losses, claims, damages or liabilities, joint or several, to which they or any of them may become subject under the Securities Act or any other statute or common law and shall reimburse each of them for
any legal or other expenses reasonably incurred by them (including, to the extent hereinafter provided, reasonable counsel fees) as and when incurred by them in connection with investigating any such losses, claims, damages or liabilities or in
connection with defending any actions, insofar as such losses, claims, damages, liabilities, expenses or actions arise out of or are based upon any untrue statement or alleged untrue statement of a material fact contained in a Registration Statement
or the related Prospectus, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading, if
such statement or omission was made in reliance upon and in conformity with information furnished in writing to the Company by or on behalf of such Holder, expressly for use in connection with the preparation of a Registration Statement or the
related Prospectus or any amendment or supplement to either thereof. The indemnity agreement of the respective Holders contained in this Section 4 shall remain operative and in full force and effect regardless of any termination of this
Agreement or of any investigation made by or on behalf of the Company, any underwriter, or any other selling Holder, or their respective directors or officers, or any such controlling person, and shall survive the registration of the Registrable
Securities; provided, however, that, 

  
 17 

 
no such Holder shall be liable for any claims hereunder in excess of the amount of net proceeds received by such Holder from the sale of Registrable Securities pursuant to a Registration
Statement. 
 (c) The Company and the Holders each shall, upon the receipt of notice of the commencement of any action against it or any
Person controlling it as aforesaid, in respect of which indemnity may be sought on account of any indemnity agreement contained herein, promptly give written notice of the commencement thereof to the party or parties against whom indemnity shall be
sought hereunder, but the failure to notify such indemnifying party or parties of any such action shall not relieve such indemnifying party or parties from any liability hereunder. In case such notice of any such action shall be so given, such
indemnifying party shall be entitled to participate at its own expense in the defense, or, if it so elects, to assume (in conjunction with any other indemnifying parties) the defense of such action, in which event such defense shall be conducted by
counsel chosen by such indemnifying party or parties and satisfactory to the indemnified party or parties who shall be defendant or defendants in such action, and such defendant or defendants shall bear the fees and expenses of any additional
counsel retained by them; but if the indemnifying party shall elect not to assume the defense of such action, such indemnifying party will reimburse such indemnified party or parties for the reasonable fees and expenses of any counsel retained by
them; provided, however, if the defendants in any such action (including impleaded parties) include both the indemnified party and the indemnifying party and counsel for the indemnifying party shall have reasonably concluded that there may be a
conflict of interest involved in the representation by a single counsel of both the indemnifying party and the indemnified party, the indemnified party or parties shall have the right to select separate counsel, satisfactory to the indemnifying
party, whose reasonable fees and expenses shall be paid by such indemnifying party, to participate in the defense of such action on behalf of such indemnified party or parties (it being understood, however, that the indemnifying party shall not be
liable for the fees and expenses of more than one separate counsel (in addition to local counsel) representing the indemnified parties who are parties to such action). The Company and the Holders each agree that without the other party’s prior
written consent, which consent shall not be unreasonably withheld, it will not settle, compromise or consent to the entry of any judgment in any claim in respect of which indemnification may be sought under the indemnification provisions of this
Agreement, unless such settlement, compromise or consent (i) includes an unconditional release of such other party from all liability arising out of such claim and (ii) does not include a statement as to or an admission of fault,
culpability or a failure to act by or on behalf of such other party. 
 (d) If the indemnification provided for in (a) or
(b) above shall be unenforceable under applicable law by an indemnified party, each indemnifying party agrees to contribute to such indemnified party with respect to any and all losses, claims, damages, liabilities and expenses for which each
such indemnification provided for in (a) or (b) above shall be unenforceable, in such proportion as shall be appropriate to reflect the (i) relative fault of each indemnifying party on the one hand and the indemnified party on the
other in connection with the statements or omissions which have resulted in such losses, claims, damages, liabilities and expenses, the relative benefits received by each indemnifying party on the one hand and the indemnified party on the other hand
from the offering of the Registrable Securities pursuant to this Agreement, and any other relevant equitable considerations; provided, however, that no indemnified party guilty of fraudulent misrepresentation (within the meaning of
Section 11(f) of 

  
 18 

 
the Securities Act) shall be entitled to contribution from any indemnifying party not guilty of such fraudulent misrepresentation. Relative fault shall be determined by reference to, among other
things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by such indemnifying party or the indemnified party and each such party’s
relative intent, knowledge, access to information and opportunity to correct or prevent such untrue statement or omission. The Company and each of the Holders agree that it would not be just and equitable if contributions pursuant to this paragraph
(d) were to be determined by pro rata allocation (even if the Holders were treated as one entity for such purpose) or by any other method of allocation which does not take into account the equitable considerations referred to above.
Notwithstanding the provisions of this Section 4, no Holder shall be required to contribute in excess of the amount equal to the excess of (i) the net proceeds received by such Holder from the sale of Registrable Securities by it to
Eligible Holders, over (ii) the amount of any damages which such Holder has otherwise been required to pay by reason of any such untrue or alleged untrue statement or omission or alleged omission. The obligations of each Holder to contribute
pursuant to this Section 4 are several and not joint and shall not exceed the same proportion of all contributions of Holders required hereunder as such Holder’s Registrable Securities sold pursuant to the Registration Statement is of the
total amount of Registrable Securities sold pursuant to the Registration Statement. 
  

	 	5.	Participation in Underwritten Registrations. 

 No Holder may participate in any
underwritten registration hereunder unless such Holder (a) agrees to sell such Holder’s Registrable Securities on the basis provided in any underwriting arrangements approved by the Persons entitled hereunder to approve such arrangements
and (b) completes and executes all reasonable questionnaires, powers of attorney, indemnities, underwriting agreements, lock-up letters and other documents reasonably required under the terms of such underwriting arrangements. 

 

	 	6.	Selection of Underwriters. 

 The Holders of Registrable Securities covered by the Shelf
Registration Statement who desire to do so may sell the securities covered by such Shelf Registration in an underwritten offering. In any such underwritten offering, the underwriter or underwriters and manager or managers that will administer the
offering will be selected by the Holders of a majority in aggregate principal amount of the Registrable Securities included in such offering; provided, however, that such underwriters and managers must be reasonably satisfactory to the Company. 

 

	 	7.	Miscellaneous. 

 (a) Rule 144 and Rule 144A. To the extent the Company is subject
to the reporting requirements of Section 13 or 15 of the Exchange Act and any Registrable Securities remain outstanding, the Company will file the reports required to be filed by it under the Securities Act and Section 13(a) or 15(d) of
the Exchange Act and the rules and regulations adopted by the SEC thereunder. To the extent the Company is not required to file such reports, it will, upon the request of any Holder of Registrable Securities (a) make publicly available such
information as is necessary to permit sales of their securities pursuant to Rule 144 under the 

  
 19 

 
Securities Act, (b) deliver such information to prospective purchasers as is necessary to permit sales of their securities pursuant to Rule 144A under the Securities Act and take such
further action as any Holder of Registrable Securities may reasonably request and (c) take such further action that is reasonable in the circumstances, in each case, to the extent required from time to time to enable such Holder to sell its
Registrable Securities without registration under the Securities Act within the limitation of the exemptions provided by (i) Rule 144 under the Securities Act, as such rule may be amended from time to time, (ii) Rule 144A under the
Securities Act, as such rule may be amended from time to time or (iii) any similar rules or regulations hereafter adopted by the SEC. Upon the request of any Holder of Registrable Securities, the Company will deliver to such Holder a written
statement as to whether it has complied with such requirements. 
 (b) No Inconsistent Agreements. The Company has not entered into
nor will the Company on or after the date of this Agreement enter into any agreement which is inconsistent with the rights granted to the Holders of Registrable Securities in this Agreement or otherwise conflicts with the provisions hereof. The
rights granted to the Holders hereunder do not in any way conflict with and are not inconsistent with the rights granted to the holders of the Company’s other issued and outstanding securities under any such agreements. 

(c) Amendments and Waivers. The provisions of this Agreement, including the provisions of this sentence, may not be amended, modified
or supplemented, and waivers of or consents to departures from the provisions hereof may not be given unless the Company has obtained the written consent of Holders of at least a majority in aggregate principal amount of the outstanding Registrable
Securities affected by such amendment, modification, supplement, waiver or departure; provided no departure with respect to the provisions of Section 4 hereof shall be effective as against any Holder of Registrable Securities without the
consent of such Holder. Notwithstanding the foregoing sentence, (i) this Agreement may be amended, without the consent of any Holder of Registrable Securities, by written agreement signed by the Company and the Trustee, to cure any ambiguity,
correct or supplement any provision of this Agreement that may be defective or inconsistent with any other provision of this Agreement or to make any other provisions with respect to matters or questions arising under this Agreement which shall not
be inconsistent with other provisions of this Agreement and shall not adversely affect the interests of the Holders in any material respect, (ii) without the consent of any Holder of Registrable Securities, this Agreement may be amended,
modified or supplemented, and waivers of and consents to departures from the provisions hereof may be given, by written agreement signed by the Company and the Trustee to the extent that any such amendment, modification, supplement, waiver or
consent is, in their reasonable judgment, necessary or appropriate to comply with applicable law (including any interpretation of the staff of the SEC) or any change therein and (iii) to the extent any provision of this Agreement relates to the
Initial Purchasers, such provision may be amended, modified or supplemented, and waivers of or consents to departures from such provisions may be given, by written agreement signed by the Company and the Trustee. 

(d) Notices. All notices and other communications provided for or permitted hereunder shall be made in writing by hand-delivery,
registered first-class mail, telecopier, any courier guaranteeing overnight delivery or in accordance with the book-entry transfer facility’s procedures (i) if to a Holder, at the most current address given by such Holder to the Company

  
 20 

 
by means of a notice given in accordance with the provisions of this Section 7(d), which address initially is, with respect to the Initial Purchasers, the addresses set forth in the Purchase
Agreement and (ii) if to the Company, initially at the Company’s address set forth in the Purchase Agreement and thereafter at such other address, notice of which is given in accordance with the provisions of this Section 7(d). 

All such notices and communications shall be deemed to have been duly given: at the time delivered by hand, if personally delivered; five
Business Days after being deposited in the mail, postage prepaid, if mailed; when receipt is acknowledged, if telecopied; and on the next Business Day, if timely delivered to an air courier guaranteeing overnight delivery. 

Copies of all such notices, demands, or other communications shall be concurrently delivered by the Person giving the same to the Trustee, at
the address specified in the Indenture. 
 (e) Successors and Assigns. This Agreement shall inure to the benefit of and be binding
upon the successors, assigns and transferees of each Initial Purchaser, including, without limitation and without the need for an express assignment, subsequent Holders; provided, however, that nothing herein shall be deemed to permit any
assignment, transfer or other disposition of Registrable Securities in violation of the terms of the Purchase Agreement or the Indenture. If any transferee of any Holder shall acquire Registrable Securities, in any manner, whether by operation of
law or otherwise, such Registrable Securities shall be held subject to all of the terms of this Agreement, and by taking and holding such Registrable Securities, such Person shall be conclusively deemed to have agreed to be bound by and to perform
all of the terms and provisions of this Agreement and such Person shall be entitled to receive the benefits hereof. 
 (f) Third Party
Beneficiary. Each Initial Purchaser shall, when it no longer holds any beneficial interest in any Notes or Exchange Notes, be a third party beneficiary of the agreements made hereunder among the Company and the Holders and shall have the right
to enforce such agreements directly to the extent it deems such enforcement necessary or advisable to protect its rights or the rights of Holders hereunder. 

(g) Counterparts. This Agreement may be executed in any number of counterparts and by the parties hereto in separate counterparts, each
of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. 

(h) Headings. The headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning
hereof. 
 (i) GOVERNING LAW. THIS AGREEMENT SHALL BE DEEMED TO HAVE BEEN MADE IN THE STATE OF NEW YORK. THE VALIDITY AND
INTERPRETATION OF THIS AGREEMENT, AND THE TERMS AND CONDITIONS SET FORTH HEREIN, SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT GIVING EFFECT TO ANY PROVISIONS RELATING TO CONFLICTS OF LAWS. EACH OF
THE PARTIES HERETO AGREES TO SUBMIT TO THE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT. 

  
 21 

 (j) Severability. In the event that any one or more of the provisions contained herein, or
the application thereof in any circumstance, is held invalid, illegal or unenforceable, the validity, legality and enforceability of any such provision in every other respect and of the remaining provisions contained herein shall not be affected or
impaired thereby. 
 (k) Securities Held by the Company or its Affiliates. Whenever the consent or approval of Holders of a specified
percentage of Registrable Securities is required hereunder, Registrable Securities held by the Company or any of its affiliates (as such term is defined in Rule 405 under the Securities Act) shall not be counted in determining whether such consent
or approval was given by the Holders of such required percentage. 

  
 22 

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

			
	 ONCOR ELECTRIC DELIVERY

COMPANY LLC

		
	By:	 	 /s/ John M. Casey

		 	Name: John M. Casey
		 	Title: Vice President-Treasurer

 [Signature page to Registration Rights Agreement] 

			
	Accepted and delivered as of
	the date first above written:
	
	BARCLAYS CAPITAL INC.
		
	By:	 	 /s/ Robert A. Stowe

		 	Name: Robert A. Stowe
		 	Title: Managing Director
	
	MERRILL LYNCH, PIERCE, FENNER & SMITH
                                INCORPORATED
		
	By:	 	 /s/ Andrew Karp

		 	Name: Andrew Karp
		 	Title: Managing Director

 [Signature page to Registration Rights Agreement]Exhibit 10.1

 

EXECUTION VERSION

 

EMPLOYMENT AGREEMENT

 

EMPLOYMENT AGREEMENT, dated as of August
22, 2016, by and between Sequential Brands Group, Inc., a Delaware corporation (the “Company”), and Andrew Cooper
(the “Executive”).

 

WITNESSETH

 

WHEREAS, the Company
wishes to engage Executive as its President; and

 

WHEREAS, the Company
and Executive desire to enter into this Agreement to reflect the terms and conditions of Executive’s employment.

 

NOW, THEREFORE, in consideration of the
mutual covenants and agreements hereinafter set forth, and for other good and valuable consideration, the receipt and sufficiency
of which is hereby acknowledged, the Company and Executive hereby agree as follows:

 

1.   Engagement of
Executive; Duties; Board. During the Term (as defined in Section 3 below), the Executive shall have the title of President
of the Company, reporting directly to the Chief Executive Officer of the Company. In connection with his employment by the Company,
the Executive shall be based in the greater New York metropolitan area.

 

2.   Time. The
Executive shall devote substantially all of his working hours to his duties hereunder and towards the overall success of the business
of the Company, including but not limited to, strategic direction, execution and implementation of business plans, developing and
achieving budget targets, and overall business growth of the Company, provided that nothing contained herein shall be deemed to
restrict the Executive from engaging in charitable, religious, civic or community activities, or from serving on the boards of
directors of non-profit organizations and, with the consent of the Company’s Board of Directors (the “Board”)
(such consent not to be unreasonably withheld, delayed or conditioned), other for-profit companies which do not compete with the
Company, provided that such activities do not materially interfere with Executive’s duties and responsibilities under this
Agreement.

 

3.  Term. The term
of this Agreement shall commence on August 22, 2016 (the “Effective Date”) and shall continue until December
31, 2019 (the “Term”), unless otherwise terminated as provided herein. In the event that the Executive remains
an employee of the Company following expiration of the Term and this Agreement is not extended, he shall be an employee “at
will” and shall not be (i) at any time during or following such “at will” employment, entitled to any of the
benefits under this Agreement, other than as set forth in Section 5(j)(v) below, or (ii) at any time following such “at will
employment”, subject to any of the restrictions contained in this Agreement (including, but not limited to, the noncompetition
and non-solicitation provisions contained in Section 7), other than the undertakings contained in Section 6 and the
provisions of Section 10, each of which shall survive any termination or non-renewal of this Agreement. If the Company does
not intend to continue Executive’s employment following the expiration of the Term, it shall so notify the Executive, in
writing, by no later than July 1, 2019.

 

     

     

    

 

4.   Compensation.

 

(a)    Base Salary.
During the Term, Executive’s minimum annual base salary will be as follows: $500,000 per annum from the Effective Date through
December 31, 2016; $525,000 per annum for calendar 2017; $550,000 per annum for calendar 2018; and $575,000 per annum for calendar
2019. The base salary shall be paid in accordance with the Company’s payroll practices and policies then in effect, with
any additional increases determined by the Board or the Compensation Committee of the Board (the “Compensation Committee”)
from time to time (such salary, as increased from time to time, the “Base Salary”).

 

(b)   Bonus. During
the Term, the Executive shall be entitled to receive an annual bonus for each fiscal year (the “Annual Bonus”)
based upon the adjusted EBITDA target to be determined by the Compensation Committee in accordance
with section 162(m) of the Internal Revenue Code of 1986, as amended (the “Code”), and shall be subject to such other
requirements for performance-based compensation under section 162(m) of the Code. The EBITDA target shall be adjusted for
the effect of the disposition of any assets prior to the end of the applicable year, and shall be the same target as established
for the Chief Executive Officer. The target Annual Bonus amount shall be one hundred twenty-five percent (125%) of the Base Salary
and shall be paid if the adjusted EBITDA target for the year is attained. If performance for any year is 80% or more but less than
90% of the adjusted EBITDA target for that year, 50% of the target Annual Bonus will be paid and if performance for any year is
90% or more but less than 100% of the adjusted EBITDA target for that year, 75% of the target Annual Bonus will be paid. In the
event of a sale or other disposition of assets, the adjusted EBITDA target for the year in which such sale or other disposition
occurs shall be reduced by the amount of EBITDA included in the budget for that year that was attributable to those assets. Notwithstanding
the foregoing, in no event shall the Annual Bonus for calendar 2016 be less than $275,000. Annual Bonuses, if applicable, shall
be due and payable by the Company to the Executive annually, payable in the year following the year for which such Annual Bonus
was earned on the earlier of the date the Company files its 10-K or April 1st of such year.  

 

(c)  Equity Compensation.
As of the Effective Date, the Company shall grant to the Executive restricted stock units in respect of 550,000 shares of the Company’s
common stock, 175,000 of which shall be time-vested (the “RSUs”) and 375,000 of which shall vest based on the
attainment of specified performance goals (the “PSUs”) (collectively, the “RSU/PSU Award”).
250,000 of the PSUs will be granted pursuant to an Equity Incentive Bonus Plan that the Compensation Committee has established
for the 2017-2019 calendar years, based 66.7% on the Company achieving during each calendar year in excess of 110% of the Board-approved
adjusted EBIDTA budget for such calendar year and 33.3% on financial criteria based on the Board-approved budget to be established
by the Compensation Committee, which such goals shall be the same as applied to the Chief Executive Officer. The remaining 125,000
PSUs will be granted in equal annual increments based on performance criteria specific to the Executive, as to be determined by
the Compensation Committee and CEO after consultation with Executive no within 90 days of the Effective Date. The RSU/PSU Award
shall be made pursuant to award agreements substantially in the form attached hereto as Exhibit B (the “RSU/PSU
Agreement”). Executive shall be eligible for future equity awards as determined by the Compensation Committee in its
discretion.

 

    	 	2	 

     

    

 

(d)          Benefits.
Executive shall receive the employee and fringe benefits generally made available to other executive officers of the Company from
time to time, including, without limitation, health and dental coverage and life and disability insurance. Executive shall also
be added or continued, as the case may be, as an insured under the Company’s officers and directors insurance and all other
polices which pertain to executive officers of the Company. The Company shall pay Executive a car allowance of $1,500 per month
during the Term, payable no less frequently than monthly.

 

(e)          Reimbursement
of Expenses. The Company shall pay to Executive the reasonable expenses incurred by him in the performance of his duties hereunder,
including, without limitation, expenses related to cell phones, blackberries and laptop computers and such other expenses incurred
in connection with business related travel or entertainment in accordance with the Company’s policy, or, if such expenses
are paid directly by the Executive, the Company shall promptly reimburse the Executive for such payments in accordance with the
Company’s policy, provided that the Executive properly accounts for such expenses in accordance with the Company’s
policy.

 

(f)  Vacation. Executive
shall be entitled to four (4) weeks of paid vacation per year. The Executive shall use his vacation in the calendar year in which
it is accrued.

 

(g) Legal Fees. The Company agrees
to pay or reimburse the Executive for all reasonable attorney’s fees and related expenses incurred by the Executive in connection
with the negotiation and execution of this Employment Agreement, subject to a maximum reimbursement of $15,000.

 

5.           Termination
of Employment.

 

(a)      General.
The Executive’s employment under this Agreement may be terminated prior to the expiration of the Term without any breach
of this Agreement only on the following circumstances:

 

(b)       Death.
The Executive’s employment under this Agreement shall terminate upon his death.

 

(c)     Disability.
If the Executive suffers a Disability (as defined below in this sub-section (2)), the Company may terminate the Executive’s
employment under this Agreement upon thirty (30) days prior written notice; provided that the Executive has not returned to full-time
performance of his duties during such thirty (30) day period. For purposes hereof, “Disability” shall mean the Executive’s
inability to perform his duties and responsibilities hereunder, with or without reasonable accommodation, due to any physical or
mental illness or incapacity, which condition either (i) has continued for a period of 180 days (including weekends and holidays)
in any consecutive 365-day period, or (ii) is projected by the Board in good faith after consulting with a doctor selected by the
Company and consented to by the Executive (or, in the event of the Executive’s incapacity, his legal representative), such
consent not to be unreasonably withheld, that the condition is likely to continue for a period of at least six (6) consecutive
months from its commencement; provided, however, that in no event shall Executive have a Disability for purposes
of this clause (c) unless Executive has become disabled within the meaning of the Company’s long term disability plan then
in effect and is entitled to receive benefits thereunder.

 

    	 	3	 

     

    

 

(d)      Good
Reason. The Executive may terminate his employment under this Agreement for Good Reason after the occurrence of any of the
Good Reason events set forth in this Section 5(d). For purposes of this Agreement, “Good Reason” shall mean the occurrence
of any of the following events without the Executive’s prior written consent:

 

(i)          the
failure by the Company to timely comply with its material obligations and agreements contained in this Agreement;

 

(ii)         a
material diminution of the authorities, duties or responsibilities of the Executive (other than temporarily while the Executive
is physically or mentally incapacitated and unable to properly perform such duties, as determined by the Board in good faith) or
the assignment to Executive of duties materially inconsistent with his position as President;

 

(iii) the loss of the title
of President of the Company or if, upon or following a Change in Control (as defined in the Company’s 2013 Stock Incentive
Plan) (a “Change in Control”)), the Company is not the surviving entity, or survives as a subsidiary of another
corporation or entity, and the Executive is not the president of the ultimate parent corporation or entity and/or does not maintain
similar duties and responsibilities as he had prior to the Change in Control;

 

(iv) the involuntary re-location
of the Executive to an office outside of the New York, New York metropolitan area; or

 

(v) a change in the reporting
structure so that the Executive reports to someone other than the Chief Executive Officer or the Board;

 

provided, however, that, within ninety (90) days
of any such events having occurred, the Executive shall have provided the Company with written notice that such events have occurred
and afforded the Company thirty (30) days to cure, and if the Company does not cure to Executive’s reasonable satisfaction,
then Executive terminates his employment within one hundred twenty (120) days following the expiration of such cure period. For
purposes of this Agreement, upon any reduction or diminution in authorities, duties, responsibilities, etc., the basis for determining
whether such reduction or diminution was material shall be deemed to be the greatest authorities, duties, responsibilities held
by Executive and not the authorities, duties, responsibilities held by Executive immediately prior to the most recent diminution
or reduction (e.g., if the Company were to reduce Executive’s duties and then at a subsequent time were to reduce his duties
further, for purposes of determining whether the second event constitutes a Good Reason event, his duties would be compared to
those he held prior to the initial reduction).

 

    	 	4	 

     

    

 

(e)    Without
Good Reason. The Executive may voluntarily terminate his employment under this Agreement without Good Reason upon written notice
by the Executive to the Company at least thirty (30) days prior to the effective date of such termination (which termination the
Company may, in its sole discretion, make effective earlier than the date set forth in the Notice of Termination (as hereinafter
defined in sub-section (h) below)).

 

(f)      Cause.
The Company may terminate the Executive’s employment under this Agreement for Cause. Termination for “Cause”
shall mean termination of the Executive’s employment because of the occurrence of any of the following as reasonably determined
by the Board in good faith:

 

(i) any gross negligence or
the willful and continued failure by the Executive to substantially perform his material obligations under this Agreement (other
than any such failure resulting from the Executive’s incapacity due to a Disability);

 

(ii) the indictment of the
Executive for, or his conviction of or plea of guilty or nolo contendere to, a felony;

 

(iii) the Executive’s
willfully engaging in misconduct (which shall include theft, fraud, or embezzlement) in the performance of his duties for the Company
which is injurious to the Company (monetarily or otherwise);

 

(iv) the Executive’s
trading of securities or willful disclosure of non-public information in each case constituting a violation of insider trading
laws which is injurious to the Company, monetarily or otherwise;

 

(v) any chemical dependence
of the Executive which materially and adversely affects the performance of his duties and responsibilities to the Company or any
of its subsidiaries; provided, however, that the taking of prescribed prescription medication shall not constitute
a chemical dependence of the Executive hereunder; or

 

(vi) a material breach by
the Executive of this Agreement.

 

provided, however, that in each case (other than
(ii) or (iv)), the Company shall have provided the Executive with written notice within ninety (90) days of the event(s) alleged
to constitute Cause, the Executive has been afforded at least thirty (30) days to cure same and has failed to cure the event(s)
within such 30 day period; provided, further, that in the case of willful misconduct under clause (iii), in order
to cure, the Executive shall have to cure such willful misconduct to the reasonable satisfaction of the Board.

 

(g)   Without Cause.
The Company may terminate the Executive’s employment under this Agreement without Cause immediately upon written notice by
the Company to the Executive.

 

    	 	5	 

     

    

 

(h)      Notice
of Termination. Any termination of the Executive’s employment by the Company or by the Executive (other than termination
by reason of the Executive’s death) shall be communicated by written Notice of Termination to the other party of this Agreement.
For purposes of this Agreement, a “Notice of Termination” shall mean a written notice which shall indicate the
specific termination provision in this Agreement relied upon and shall set forth in reasonable detail the facts and circumstances
claimed to provide a basis for termination of the Executive’s employment under the provision so indicated.

 

(i)      Date
of Termination. The “Date of Termination” shall mean (a) if the Executive’s employment is terminated
by his death, the date of his death, (b) if the Executive’s employment is terminated pursuant to subsection 5(c) above, thirty
(30) days after Notice of Termination is given (provided that the Executive shall not have returned to the performance of his duties
on a full-time basis during such thirty (30) day period), (c) if the Executive’s employment is terminated pursuant to subsections
5(d) or 5(f) above, the date specified in the Notice of Termination after the expiration of any applicable cure periods, (d) if
the Executive’s employment is terminated pursuant to subsection 5(e) above, the date specified in the Notice of Termination
which shall be at least thirty (30) days after Notice of Termination is given, or such earlier date as the Company shall determine,
in its sole discretion, (e) if the Executive’s employment is terminated pursuant to subsection 5(g), the date on which a
Notice of Termination is given, (f) if the Executive’s employment is terminated upon expiration of the Term, the date of
the expiration of the Term, and (g) if the Executive’s employment is terminated after the expiration of the Term, the date
on which a Notice of Termination is given.

 

(j)     Compensation
Upon Termination.

 

(i)   Termination
for Cause without Good Reason or Expiration of the Term Not Due to Company Notice. If the Executive’s employment shall
be terminated upon the expiration of the Term (other than pursuant to Section 5(j)(v), by the Company for Cause, or by the Executive
without Good Reason, the Executive shall receive from the Company: (1) any earned but unpaid Base Salary through the Date of Termination,
paid in accordance with the Company’s standard payroll practices; (2) reimbursement for any unreimbursed expenses properly
incurred and paid in accordance with Section 4(e) through the Date of Termination; (3) payment for any accrued but unused vacation
time in accordance with Company policy; and (4) such benefits, and other payments, if any, as to which the Executive (and his eligible
dependents) may be entitled under, and in accordance with the terms and conditions of, the employee benefit arrangements, plans
and programs of the Company as of the Date of Termination, other than any severance pay plan ((1) though (4), (the “Amounts
and Benefits”)), and the Company shall have no further obligation with respect to this Agreement other than as provided
in Section 8 of this Agreement. In addition, any outstanding equity or incentive award that remains unvested on the Date of Termination
shall be forfeited as of the Date of Termination.

 

(ii)  Termination
Without Cause or for Good Reason. If prior to the expiration of the Term, the Executive resigns from his employment hereunder
for Good Reason or the Company terminates the Executive’s employment hereunder without Cause (other than a termination by
reason of death or Disability), then the Company shall pay or provide the Executive the Amounts and Benefits and the following:

 

    	 	6	 

     

    

 

(1)   an amount
equal to 2.0 times the sum of (x) the then-current Base Salary and (y) the greater of (i) the actual Annual Bonus for the year
immediately preceding the year in which the Date of Termination occurs or (ii) 125% of Executive’s then-current Base Salary.
The amount payable pursuant to this Section 5(j)(ii)(1) shall be paid in full in a lump sum cash payment to be made to the Executive
on the date that is thirty (30) days following the Date of Termination;

 

(2)     any
Annual Bonus earned but unpaid for a year ending prior to the Date of Termination (the “Prior Year Bonus”),
which shall be payable in full in a lump sum cash payment to be made to the Executive on the date that is thirty (30) days following
the Date of Termination or the date such bonus would be paid if Executive had remained an employee of the Company, if later;

 

(3)    in
the event such resignation or termination occurs following the Company’s first fiscal quarter of any year, a pro-rata portion
of the Executive’s Annual Bonus for the fiscal year in which the Executive’s termination occurs based on actual results
for such year (determined by multiplying the amount of such Annual Bonus which would be due for the full fiscal year by a fraction,
the numerator of which is the number of days during the fiscal year of termination that the Executive is employed by the Company
and the denominator of which is 365), paid in accordance with Section 4(b) (“Pro Rata Bonus”). The Pro Rata
Bonus shall be payable at the time the Annual Bonus would have been paid if Executive’s employment had not terminated;

 

(4)   subject
to the Executive’s timely election of continuation coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985,
as amended (“COBRA”), with respect to the Company’s group health insurance plans in which the Executive participated
immediately prior to the Date of Termination (“COBRA Continuation Coverage”), the Company shall pay the cost of COBRA
Continuation Coverage for the Executive and his eligible dependents until the earliest of (a) the Executive or his eligible dependents,
as the case may be, ceasing to be eligible under COBRA (or any COBRA-like benefits provided under applicable state law) and (b)
eighteen (18) months following the Date of Termination, (the benefits provided under this sub-section (4), the “Medical
Continuation Benefits”); and

 

(5)    any
unvested RSUs/PSUs or other equity awarded to Executive shall accelerate and become fully vested on the Date of Termination and
the RSU/PSU shares (or other equity) shall be distributed to the Executive on the date that is thirty (30) days following the Date
of Termination (subject to any securities law restrictions).

  

    	 	7	 

     

    

 

(iii)   Termination
upon Death. In the event of the Executive’s death, the Company shall pay or provide to the Executive’s estate:
(1) continued payment of the Executive’s Base Salary for the remainder of the year in which the termination for reason of
death occurs, (2) the Amounts and Benefits, (3) the Prior Year Bonus, and (4) the Pro Rata Bonus. In addition, any unvested RSUs/PSUs
or other equity awarded to Executive shall vest in full and such shares shall be distributed to the Executive within thirty (30)
days of the Date of Termination (subject to any securities law restrictions).

 

(iv)    Termination
upon Disability. In the event the Company terminates the Executive’s employment hereunder for reason of Disability, the
Company shall pay or provide to the Executive: (1) the Amounts and Benefits, (2) the Prior Year Bonus, (3) a Pro Rata Bonus, and
(4) the Medical Continuation Benefits. In addition, any unvested RSUs/PSUs or other equity awarded to Executive shall vest in full
and such shares shall be distributed to the Executive within thirty (30) days of the Date of Termination (subject to any securities
law restrictions).

 

(v) Expiration of
Term. By no later than July 1, 2019, the Company shall notify the Executive, in writing, if it intends to continue Executive’s
employment following the end of the Term. If, by July 1, 2019, the Company has not offered the Executive a new employment agreement
substantially comparable in the aggregate to or more favorable than this Agreement and the Executive decides not to continue his
employment upon or after the expiration of the Term, then the Company shall pay or provide the Executive the Amounts and Benefits
and (i) the Company shall continue to pay the Executive’s then-current Base Salary for a period of six (6) months after the
Date of Termination, (ii) the Company shall pay the Executive the Annual Bonus for 2019 on the date such bonus would have been
paid if the Executive had remained an employee of the Company, and (iii) any unvested RSUs (and other time-vesting equity awards)
that would have vested in 2020 had the Executive remained employed by the Company shall vest in full upon the Date of Termination
and the shares subject to such awards shall be distributed to the Executive within thirty (30) days of the Date of Termination
(subject to any securities law restrictions) and any unvested PSUs (and any other performance-vesting equity awards) that would
have vested based on performance in 2020 (with the applicable performance goal achievement determined by the Compensation Committee
in early 2021, with such determination being consistent with the determinations for the other grantees of similar PSUs) had the
Executive remained employed by the Company shall remain eligible to vest and be settled in accordance with the terms of the applicable
award.

 

(vi)Payments of Compensation
Upon Termination. For the avoidance of doubt, in the event the Executive shall be entitled to receive payments and benefits
pursuant to any one of sub-sections 5(a), (b), (c) or (d) above, he shall be entitled to no payments or benefits under any other
of such sub-sections.

 

(vii)    Release
of Claims. Notwithstanding anything in this Agreement to the contrary, as a condition of receiving any payment or benefits
under Section 5(j)(ii) or 5(j)(v) (other than the Amounts and Benefits), the Executive agrees to execute, deliver and not revoke
a general release and covenant not to sue in favor of the Company and its subsidiaries and their respective affiliates in substantially
the form attached hereto as Exhibit A (the “Release”), before the date that is thirty (30) days following
the Date of Termination (or, as applicable, the end of the Term). In the event the Release is not executed and non-revocable prior
to the date that is thirty (30) days following the Date of Termination (or, as applicable, thirty (30) days following the end of
the Term), all payments and benefits under Section 5(j)(ii) or 5(j)(v) (other than the Amounts and Benefits) shall be forfeited.

 

    	 	8	 

     

    

 

(viii)   No
Duty to Mitigate. The Executive shall not be required to mitigate the amount of any payment provided for in this Section 5
by seeking other employment or otherwise, nor shall the amount of any payment provided for in this Section 5 be reduced by any
compensation earned by Executive as the result of Executive’s employment by another employer or business or by profits earned
by Executive from any other source at any time before and after the Executive’s date of termination (other than as provided
in Section 5(j)(ii)(4)).

 

6.           Confidentiality.

 

(a)    The Executive
acknowledges that all customer lists and information, vendor or supplier lists and information, inventions, trade secrets, software
and computer code (whether in object code or source code format), databases, know-how or other non-public, confidential or proprietary
knowledge, information or data with respect to the products, prices, marketing, services, operations, finances, business or affairs
of the Company or its subsidiaries and affiliates or with respect to confidential, proprietary or secret processes, methods, inventions,
services, research, techniques, customers (including, without limitation, the identity of the customers of the Company or its subsidiaries
and affiliates and the specific nature of the services provided by the Company or its subsidiaries and affiliates), employees (including,
without limitation, the matters subject to this Agreement) or plans of or with respect to the Company or its subsidiaries and affiliates
or the terms of this Agreement (all of the foregoing collectively hereinafter referred to as, “Confidential Information”)
are property of the Company or its applicable subsidiaries or affiliates. The Executive further acknowledges that the Company and
its subsidiaries and affiliates intend, and make reasonable good faith efforts, to protect the Confidential Information from public
disclosure. Therefore, the Executive agrees that, except as (a) required by law or regulation or as legally compelled by court
order (provided that in such case, the Executive shall promptly notify the Company of such order, shall cooperate with the
Company in attempting to obtain a protective order or to otherwise restrict such disclosure, and shall only disclose Confidential
Information to the minimum extent necessary to comply with any such law, regulation or order) or (b) required in order to enforce
his rights under this Agreement or any other agreement with the Company and/or its affiliates, during the Term and at all times
thereafter, the Executive shall not, directly or indirectly, divulge, transmit, publish, copy, distribute, furnish or otherwise
disclose or make accessible any Confidential Information, or use any Confidential Information for the benefit of anyone other than
the Company and its subsidiaries and affiliates, unless and to the extent that the Confidential Information becomes generally known
to and available for use by the general public by lawful means and other than as a result of the Executive’s acts or omissions
or such disclosure is necessary in the course of the Executive’s proper performance of his duties under this Agreement.

 

    	 	9	 

     

    

 

(b)   The Company and
its subsidiaries and affiliates do not wish to incorporate any unlicensed or unauthorized material into their products or services.
Therefore, the Executive agrees that he will not disclose to the Company, use in the Company's business, or cause the Company to
use, any information or material which is a trade secret, or confidential or proprietary information, of any third party, including,
but not limited to, any former employer, competitor or client, unless the Company has a right to receive and use such information
or material. The Executive will not incorporate into his work any material or information which is subject to the copyrights of
any third party unless the Company has a written agreement with such third party or otherwise has the right to receive and use
such material or information.

 

(c)      Notwithstanding
anything to the contrary in this Agreement, the provisions of this Section 6 shall survive any termination or non-renewal
of this Agreement.

 

7.           Noncompetition;
Non-solicitation.

 

(a)    Noncompetition.
The Executive hereby agrees that while he is employed by the Company and for the “Restricted Period” (as defined below),
he shall not, directly or indirectly, in any location in which the Company, its subsidiaries or affiliates or a licensee thereof
operates or sells its products (the “Territory”), engage, have an interest in or render any services to any
business (whether as owner, manager, operator, licensor, licensee, lender, partner, stockholder, joint venturer, employee, consultant
or otherwise) competitive with the business activities conducted by the Company, its subsidiaries or affiliates or any material
business activities of which Executive was aware that the Company or its direct or indirect subsidiaries had plans to conduct at
the time of his Date of Termination (each such case, a “Competing Business”). Notwithstanding the foregoing,
nothing herein shall prevent the Executive from owning stock in a publicly traded corporation whose activities compete with those
of the Company, its subsidiaries and affiliates, provided that such stock holdings are not greater than five percent (5%)
of such corporation. For purposes of this Agreement, the “Restricted Period” shall mean the following: (i) in the event
of a termination of employment by the Company for Cause or a resignation by the Executive without Good Reason, a period of twelve
(12) months following the Executive’s termination of employment, or (ii) in the event of a termination by the Company without
Cause or a resignation by the Executive for Good Reason, a period of six (6) months following the Executive’s termination
of employment. If the Agreement terminates pursuant to Section 5(j)(v), then there will be no restrictions imposed upon the Executive
under this paragraph following the Date of Termination.

 

  (b) Non-solicitation.

 

(i) Employees. The Executive
shall not, while he is employed by the Company and during the period of eighteen (18) months following the Executive’s termination
of employment for any reason, directly or indirectly, (1) cause to be employed or hired, recruit, solicit for employment or otherwise
contract for the services of, any individual who was or is an employee of the Company or any of its subsidiaries or affiliates;
(2) otherwise induce or attempt to induce any employee of the Company or any of its subsidiaries or affiliates to terminate such
individual’s employment with the Company or such subsidiary or affiliate, or in any way interfere with the relationship between
the Company or any such subsidiary or affiliate and any such employee.

 

    	 	10	 

     

    

 

(ii) Customers. The Executive
shall not, while he is employed by the Company and during the period of twelve (12) months following the Executive’s termination
of employment for any reason, solicit, contact, call upon, communicate with, or attempt to solicit, contact, call upon, communicate
with any Protected Customer (as hereinafter defined) to directly discourage such Protected Customer from doing business with the
Company or any of its subsidiaries or affiliates. For purposes of this Section 7, “Protected Customer” means
any individual or entity to whom the Company or any subsidiary or affiliate thereof has sold products or services or solicited
to sell products or services during the final twelve (12) months of Executive’s employment by the Company.

 

(c)   Company IP;
Work Product.

 

(i)  “Intellectual
Property” means all intellectual property and industrial property recognized by applicable requirements of law and all
physical or tangible embodiments thereof, including all of the following, whether domestic or foreign: (1) patents and patent applications,
patent disclosures and inventions (whether or not patentable), as well as any reissues, continuations, continuations in part, divisions,
revisions, renewals, extensions or reexaminations thereof; (2) registered and unregistered trademarks, service marks, trade names,
trade dress, logos, slogans and corporate names, and other indicia of origin, pending trademark and service mark registration applications,
and intent-to-use registrations or similar reservations of marks; (3) registered and unregistered copyrights and mask works, and
applications for registration of either; (4) Internet domain names, applications and reservations therefor, uniform resource locators
and the corresponding Internet websites (including any content and other materials accessible and/or displayed thereon); (5) Confidential
Information; and (6) intellectual property and proprietary information not otherwise listed in (1) through (6) above, including
unpatented inventions, invention disclosures, rights of publicity, rights of privacy, moral and economic rights of authors and
inventors (however denominated), methods, artistic works, works of authorship, industrial and other designs, methods, processes,
technology, patterns, techniques, data, plant variety rights and all derivatives, improvements and refinements thereof, howsoever
recorded, or unrecorded; and (7) any goodwill associated with any of the foregoing, damages and payments for past or future infringements
and misappropriations thereof, and all rights to sue for past, present and future infringements or misappropriations thereof.

 

    	 	11	 

     

    

 

(ii)  Work Product.
The Executive agrees to promptly disclose to the Company any and all work product, including Intellectual Property relating to
the business of the Company and any of its affiliates, that is created, developed, acquired, authored, modified, composed, invented,
discovered, performed, reduced to practice, perfected, or learned by the Executive (either solely or jointly with others) directly
relating to the Company’s and its affiliates’ business or within the scope of Executive’s employment during the
Term (collectively, “Work Product,” and together with such Intellectual Property as may be owned, used, held
for use, or acquired by the Company and its affiliates, the “Company IP”). The Company IP, including the Work
Product, is and shall be the sole and exclusive property of the Company and its affiliates, as applicable. All Work Product that
is copyrightable subject matter shall be considered a “work made for hire” to the extent permitted under applicable
copyright law (including within the meaning of Title 17 of the United States Code) and will be considered the sole property of
the Company. To the extent such Work Product is not considered a “work made for hire,” Executive hereby grants, transfers,
assigns, conveys and relinquishes, without any requirement of further consideration, all right, title, and interest to the Work
Product (whether now or hereafter existing, including all associated goodwill, damages and payments for past or future infringements
and misappropriations thereof and rights to sue for past and future infringements and misappropriates thereof) to the Company in
perpetuity or for the longest period permitted under applicable law. The Executive agrees, at the Company’s expense, to execute
any documents requested by the Company or any of its affiliates at any time to give full and proper effect to such assignment.
The Executive acknowledges and agrees that the Company is and will be the sole and absolute owner of all Intellectual Property,
including all Company IP. The Executive will cooperate with the Company and any of its affiliates, at no additional cost to such
parties (whether during or after the Term), in the confirmation, registration, protection and enforcement of the rights and property
of the Company and its affiliates in such intellectual property, materials and assets, including, without limitation, the Company
IP. The Executive hereby waives any so-called “moral rights of authors” in connection with the Work Product and acknowledges
and agrees that the Company may use, exploit, distribute, reproduce, advertise, promote, publicize, alter, modify or edit the Work
Product or combine the Work Product with other works including other Company IP, at the Company’s sole discretion, in any
format or medium hereafter devised. The Executive further waives any and all rights to seek or obtain any injunctive or equitable
relief in connection with the Work Product. Notwithstanding the above, the Executive shall have the right, subject to Section
6 hereof, to author or collaborate on one or more books or other similar works (in whatever form, including written, electronic
or otherwise) on any topic(s) whatsoever (including discussion of his experiences as an employee of the Company) (each, a “Book”),
and any such Book shall not be deemed Work Product or Company IP, and the Company shall have no claim to any rights, title or interest
in any such Book.

  

(d)     Company
Property. All Confidential Information, Company IP, files, records, correspondence, memoranda, notes or other documents (including,
without limitation, those in computer-readable form) or property relating or belonging to the Company and its subsidiaries and
affiliates, whether prepared by the Executive or otherwise coming into his possession or control in the course of the performance
of his services under this Agreement, shall be the exclusive property of the Company and shall be delivered to the Company, and
not retained by the Executive (including, without limitation, any copies thereof), promptly upon request by the Company and, in
any event, promptly upon termination of Executive’s employment hereunder. Upon termination of Executive’s employment
hereunder, the Executive shall have no rights to and shall make no further use of any Company IP, including Work Product. The Executive
acknowledges and agrees that he has no expectation of privacy with respect to the Company’s telecommunications, networking
or information processing systems (including, without limitation, stored computer files, email messages and voice messages), and
that the Executive’s activity and any files or messages on or using any of those systems may be monitored at any time without
notice. Nothing in this Section 7 shall require the Executive to return to the Company any computers or telecommunication
equipment or tangible property which he owns, including, but not limited to, personal computers, phones and tablet devices; provided,
however, that Executive shall identify each such device to the Company prior to termination of employment and either afford
the Company a reasonable opportunity to remove from all such devices any confidential or proprietary information of the Company
stored thereon or provide reasonable satisfaction to the Company that such confidential or proprietary information was removed
from such devices.

 

    	 	12	 

     

    

 

(e)       Enforcement.
The Executive acknowledges that a breach of his covenants and agreements contained in Sections 6 and 7 would cause irreparable
damage to the Company and its subsidiaries and affiliates, the exact amount of which would be difficult to ascertain, and that
the remedies at law for any such breach or threatened breach would be inadequate. Accordingly, the Executive agrees that if he
breaches or threatens to breach any of the covenants or agreements contained in Sections 6 and 7, in addition to any other
remedy which may be available at law or in equity, the Company and its subsidiaries and affiliates shall be entitled to institute
and prosecute proceedings in any court of competent jurisdiction for specific performance and injunctive and other equitable relief
to prevent the breach or any threatened breach thereof without bond or other security or a showing of irreparable harm or lack
of an adequate remedy at law. Additionally, upon a material breach by Executive of Section 6 or Section 7, any unvested
stock-based awards held by the Executive shall be automatically canceled and forfeited without any further action. The Company
and the Executive further acknowledge that the time, scope, geographic area and other provisions of Sections 6 and 7 have
been specifically negotiated by sophisticated commercial parties and agree that they consider the restrictions and covenants contained
in Sections 6 and 7 to be reasonable and necessary for the protection of the interests of the Company and its subsidiaries
and affiliates, but if any such restriction or covenant shall be held by any court of competent jurisdiction to be void but would
be valid if deleted in part or reduced in application, such restriction or covenant shall apply in such jurisdiction with such
deletion or modification as may be necessary to make it valid and enforceable. The Executive acknowledges and agrees that the restrictions
and covenants contained in Sections 6 and 7 shall be construed for all purposes to be separate and independent from any
other covenant, whether in this Agreement or otherwise, and shall each be capable of being reduced in application or severed without
prejudice to the other restrictions and covenants or to the remaining provisions of this Agreement. The existence of any claim
or cause of action by the Executive against the Company or any of its subsidiaries and affiliates, whether predicated upon this
Agreement or otherwise, shall not excuse the Executive’s breach of any covenant, agreement or obligation contained in Section
6 or Section 7 and shall not constitute a defense to the enforcement by the Company or any of its subsidiaries of such
covenant, agreement or obligation; provided, however, that if upon termination of this Agreement by the Company without
“Cause” or by Executive for “Good Reason”, the Company defaults on any obligation to pay Executive any
amount due and owing Executive under Section 5(j)(ii), then Executive shall not be required to comply with the undertakings
set forth in Section 7(a) and Section 7(b).

 

    	 	13	 

     

    

 

8.           Indemnification.
The Company shall indemnify the Executive for actions taken by the Executive as an officer or director of the Company pursuant
to the fullest extent permitted by law; provided, however, that the Company shall not indemnify the Executive for
any losses incurred by the Executive as a result of or in connection with (a) acts or omissions described in Section 5(f), or (b)
a cause of action by Executive against the Company or its affiliates or their respective directors, officers, agents, representatives
or employees. If the Executive has any knowledge of any actual or threatened action, suit or proceeding, whether civil, criminal,
administrative or investigative, as to which the Executive may request indemnity under this provision, the Executive shall give
the Company prompt written notice thereof. The Company shall be entitled to assume the defense of any such proceeding, and the
Executive shall cooperate with such defense.

 

9.           Section
409A of the Code.

 

(a)     It
is intended that the provisions of this Agreement comply with Section 409A of Code and the regulations and guidance promulgated
thereunder (collectively “Code Section 409A”), and all provisions of this Agreement shall be construed in a
manner consistent with the requirements for avoiding taxes or penalties under Code Section 409A. If any provision of this Agreement
(or of any award of compensation, including equity compensation or benefits) would cause the Executive to incur any additional
tax or interest under Code Section 409A, the Company shall, upon the specific request of the Executive, use its reasonable business
efforts to in good faith reform such provision to comply with Code Section 409A; provided, that to the maximum extent practicable,
the original intent and economic benefit to the Executive and the Company of the applicable provision shall be maintained, but
the Company shall have no obligation to make any changes that could create any additional economic cost or loss of benefit to the
Company. Notwithstanding the foregoing, the 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.

 

(b)    A termination
of employment shall not be deemed to have occurred for purposes of any provision of this Agreement providing for the payment of
any amounts or benefits upon or following a termination of employment unless such termination is also a “Separation from
Service” within the meaning of Section 409A and, for purposes of any such provision of this Agreement, references to a “resignation,”
“termination,” “termination of employment” or like terms shall mean Separation from Service. Any provision
of this Agreement to the contrary notwithstanding, if at the time of the Executive’s Separation from Service, the Company
determines that the Executive is a “Specified Employee,” within the meaning of Code Section 409A, based on an identification
date of December 31, then to the extent any payment or benefit that the Executive becomes entitled to under this Agreement on account
of such separation from service would be considered nonqualified deferred compensation under Code Section 409A, such payment or
benefit shall be paid or provided at the date which is the earlier of (i) six (6) months and one day after such separation from
service, and (ii) the date of the Executive’s death (the “Delay Period”). Within five days of the end
of the Delay Period, all payments and benefits delayed pursuant to this Section 10(b) (whether they would have otherwise been payable
in a single sum or in installments in the absence of such delay) shall be paid or provided to the Executive in a lump-sum, and
any remaining payments and benefits due under this Agreement shall be paid or provided in accordance with the normal payment dates
specified for them herein.

 

    	 	14	 

     

    

 

(c)    With regard
to any provision herein that provides for reimbursement of costs and expenses or in-kind benefits, except as permitted by Code
Section 409A, (i) the right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another benefit,
(ii) the amount of expenses eligible for reimbursement, or in-kind benefits, provided during any taxable year shall not affect
the expenses eligible for reimbursement, or in-kind benefits to be provided, in any other taxable year, provided that the
foregoing clause (ii) shall not be violated with regard to expenses reimbursed under any arrangement covered by Section 105(b)
of the Code solely because such expenses are subject to a limit related to the period the arrangement is in effect and (iii) such
payments shall be made on or before the last day of the Executive’s taxable year following the taxable year in which the
expense was incurred.

 

(d)    Each payment
made under this Agreement shall be designated as a “separate payment” within the meaning of Code Section 409A.

 

10.         Miscellaneous.

 

(a)     This
Agreement shall be deemed to be a contract made under the laws of the State of New York and for all purposes shall be construed
in accordance with those laws. The Company and Executive unconditionally consent to submit to the exclusive jurisdiction of the
New York State Supreme Court, County of New York or the United States District Court for the Southern District of New York for
any actions, suits or proceedings arising out of or relating to this Agreement and the transactions contemplated hereby (and agree
not to commence any action, suit or proceeding relating thereto except in such courts), and further agree that service of any process,
summons, notice or document by registered mail to the address set forth below shall be effective service of process for any action,
suit or proceeding brought against the Company or the Executive, as the case may be, in any such court.

 

(b)   Executive may not
delegate his duties or assign his rights hereunder. No rights or obligations of the Company under this Agreement may be assigned
or transferred by the Company other than pursuant to a merger or consolidation in which the Company is not the continuing entity,
or a sale, liquidation or other disposition of all or substantially all of the assets of the Company, provided that the
assignee or transferee is the successor to all or substantially all of the assets or businesses of the Company and assumes the
liabilities, obligations and duties of the Company under this Agreement, either contractually or by operation of law. For the purposes
of this Agreement, the term “Company” shall include the Company and, subject to the foregoing, any of its successors
and assigns. This Agreement shall inure to the benefit of, and be binding upon, the parties hereto and their respective heirs,
legal representatives, successors and permitted assigns.

 

    	 	15	 

     

    

 

(c)Executive hereby represents and warrants
to the Company that he is not under any obligation of a contractual or quasi-contractual nature known to him that is inconsistent
or in conflict with this Agreement or that would prevent, limit or impair the performance by Executive of his obligations hereunder.

 

(d)      The
invalidity or unenforceability of any provision hereof shall not in any way affect the validity or enforceability of any other
provision. This Agreement reflects the entire understanding between the parties.

 

(e)      This
Agreement and the RSU/PSU Agreement represent the entire understanding of the Executive and the Company with respect to the employment
of the Executive by the Company, contain all of the covenants and agreements between the parties with respect to such employment,
and supersede and cancel any and all previous agreements, written and oral, regarding the subject matter thereof between the parties
hereto. Any modification or termination of this Agreement will be effective only if it is in writing signed by the party to be
charged.

 

(f)      This
Agreement may be executed by the parties in one or more counterparts, each of which shall be deemed to be an original but all of
which taken together shall constitute one and the same agreement, and shall become effective when one or more counterparts has
been signed by each of the parties hereto and delivered to each of the other parties hereto.

 

(g)      All
amounts payable hereunder shall be subject to the withholding of all applicable taxes and deductions required by any applicable
law.

 

11.     Notices.
All notices relating to this Agreement shall be in writing and shall be either personally delivered, sent by telecopy (receipt
confirmed) or mailed by certified mail, return receipt requested, to be delivered at such address as is indicated below, or at
such other address or to the attention of such other person as the recipient has specified by prior written notice to the sending
party. Notice shall be effective when so personally delivered, one business day after being sent by telecopy or five days after
being mailed.

 

To the Company:

 

Sequential Brands Group, Inc.

601 West 26th Street

9th Floor

New York, NY 10001

Attention: Yehuda Shmidman

 

With a copy to:

 

Sequential Brands Group, Inc.

5 Bryant Park

30th Floor

New York, NY 10018

Attention: Bill Sweedler

 

    	 	16	 

     

    

 

To the Executive:

 

Mr. Andrew Cooper

105 Stonewall Circle

West Harrison, New York 10604

coop.andrew@gmail.com

 

With a copy to:

 

Kenneth J. Rubinstein

Cohen Tauber Spievack & Wagner P.C.

420 Lexington Avenue

Suite 2400

New York, New York 10170

krubinstein@ctswlaw.com

 

[signature page follows]

 

 

 

    	 	17	 

     

    

  

IN WITNESS WHEREOF, the parties hereto have
executed this Agreement as of the 22nd day of August, 2016.

 

 

	 	 	SEQUENTIAL BRANDS GROUP, INC.
	 	 	 	 
	 	 	By:  	/s/ William Sweedler
	 	 	Name:	William Sweedler
	 	 	Title:	Chairman of the Board of Directors
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	EXECUTIVE	 	 	 
	 	 	 	 
	 	 	 	 
	/s/ Andrew Cooper	 	 	 
	Andrew Cooper	 	 	 
	 	 	 	 
	 	 	 	 
	 

 

 

    	 	18	 

     

    

 

EXHIBIT A

 

EXECUTIVE RELEASE AND COVENANT NOT
TO SUE

 

Except as otherwise
provided herein, in consideration of the severance payments and/or benefits I am eligible to receive pursuant to the employment
agreement between Sequential Brands Group, Inc., a Delaware corporation (the “Company”), and me, dated ____________,
2016 (the “Employment Agreement”), I, Andrew Cooper, on behalf of myself, and on behalf of my heirs, successors
and assigns, hereby knowingly and voluntarily release and discharge, to the fullest extent permitted by law, the Company, and all
of their respective past and present subsidiaries, affiliates, predecessors, successors and assigns (“Company Entities”)
and, with respect to each and all of the Company Entities, all of their respective directors, officers, employees, agents, each
individually and in their representative capacities (“Company Entity Officials”) (Company Entities and Company Entity
Officials collectively referred to herein as “Released Parties”) from any and all claims, demands, agreements,
obligations, expenses, actions, judgments and liabilities of any kind whatsoever, in law, equity or otherwise, whether known or
unknown, suspected or claimed, specifically mentioned herein or not, which I had, have or may have against any of the Released
Parties by reason of any actual or alleged act, event, occurrence, omission, practice or other matter whatsoever from the beginning
of time up to and including the date that I sign this Separation and General Release Agreement (this “Claims”), including
that but not limited to Claims arising out of or in any way relating to: (i)  my employment with any and all of the Company
Entities, including the termination of that employment; (ii) any common law, public policy, company policy, contract (whether oral
or written, express or implied) or tort law having any bearing whatsoever on the terms and conditions of my employment; and/or
(iii) any federal, state or local law, ordinance or regulation including, but not limited to, the following (each as amended, if
applicable): Age Discrimination in Employment Act (including Older Workers Benefit Protection Act); Americans with Disabilities
Act; Civil Rights Act of 1866; Civil Rights Act of 1991; Equal Pay Act; Family and Medical Leave Act of 1993; National Labor Relations
Act; Title VII of the Civil Rights Act of 1964; Worker Adjustment and Retraining Notification Act; New York State and New York
City Human Rights Laws; New York State Labor Law; New York State Worker Adjustment and Retraining Notification Act; and any other
law, ordinance or regulation regarding discrimination or harassment or terms or conditions of employment.

 

I agree that I have
entered into this Release as a compromise and in full and final settlement of all Claims, if any, that I have or may have against
any and all of the Released Parties up to and including the date that I sign this Release (except as otherwise expressly set forth
below). I also agree that, although I may hereafter discover Claims presently unknown or unsuspected, or new or additional facts
from those which I now knows or believe to be true, I intend to provide a complete waiver of all Claims based on any facts
and circumstances, whether known or unknown, up to and including the date that I sign this Agreement (except as otherwise expressly
set forth below).

 

    	 	19	 

     

    

 

However, notwithstanding
the foregoing, I am not releasing, and for the avoidance of doubt Claims do not include, my rights, if any, (i) to indemnification
by the Company or any of its affiliates, to the maximum extent permitted by law, for all claims or proceedings, or threatened claims
or proceedings, arising out of or relating to my service as an officer, director or employee, as the case may be, of the Company
or any of its subsidiaries, (ii) to payment of any authorized but unreimbursed business expenses incurred prior to the termination
of my employment with the Company or any of its subsidiaries in accordance with Section 4(e) of my Employment Agreement, (iii)
under any employee pension or welfare plan or program in which I participate or participated, (iv) to receive payments, severance
and benefits under the Employment Agreement, (v) to be indemnified pursuant to Section 8 of the Employment Agreement or pursuant
to other agreements to which I may be entitled to indemnification, and (vi) to any equity awards I have received prior to the date
of termination of my employment, including any RSUs/PSUs. Furthermore, I am not releasing any rights or claims that may arise after
the date on which I sign this Release or that cannot be released by a private settlement agreement (such as statutory claims for
worker’s compensation/disability insurance benefits and unemployment compensation).

 

I represent that I
have not assigned or transferred my rights with respect to any Claims covered by this Release and that I have not filed, directly
or indirectly any legal proceeding against the Released Parties regarding any such Claims. If I commence (or commenced) or participate
in any action or proceeding (including as a member of a class of persons) regarding Claims covered by this Release, I acknowledge
and agree that this Release shall be a complete defense in such action or proceeding and, to the maximum extent permitted by law,
I and my heirs, successors and assigns will have no right to obtain or receive, and will not seek or accept, any damages, settlement
or relief of any kind (including attorneys’ fees and costs) as a result of such action or proceeding.

 

In addition, I acknowledge
and agree that I am and will continue to be bound by the terms and conditions set forth in the Employment Agreement (including
the restrictive covenants) (the “Continuing Obligations”),all of which continue to remain in full force and
effect for the periods set forth therein notwithstanding the termination of my employment and are hereby incorporated herein by
reference.

 

In further consideration
of the payment and/or benefits I am eligible to receive pursuant to the Employment Agreement, I agree to reasonably cooperate with
the Company Entities, their legal counsel and designees regarding any current or future claim, investigation (internal or otherwise),
inquiry or litigation relating to any matter with which I was involved or had knowledge or which occurred during my employment,
with such assistance including, but not limited to, meetings and other consultations, signing affidavits and documents that are
factually accurate, attending depositions and providing truthful testimony (in each case, without requiring a subpoena); provided,
however, that the Company will reimburse me for my reasonable expenses (including attorneys’ fees and travel expenses)
actually incurred by me in connection with such cooperation (it being understood that if any such expenses are expected to exceed
$5,000, Executive shall inform the Company prior to incurring such expenses to provide the Company with an opportunity to either
agree to reimburse Executive for such expenses or advise Executive not to provide such cooperation necessitating the incurrence
of such expenses).

 

    	 	20	 

     

    

 

I acknowledge and agree that:

 

1. The payment and/or
benefits I am receiving under the Employment Agreement constitute consideration over and above any payments and/or benefits that
I might be entitled to receive without executing this Release.

 

2. The Company advised
me to consult with an attorney prior to executing this Release.

 

3. I was given a period
of at least 21 days within which to consider this Release and that I must sign and return this Release no later than __________,
201_.

 

4. The Company has
advised me of my statutory right to revoke my acceptance of the terms of this Release at any time within seven (7) days of my signing
of this Release.

 

5. I warrant and represent
that my decision to accept this Release was (a) entirely voluntary on my part; (b) not made in reliance on any inducement, promise
or representation, whether express or implied, other than the inducements, representations and promises expressly set forth in
the Employment Agreement or in the Release; and (c) did not result from any threats or other coercive activities to induce
acceptance of this Release.

 

In the event I decide
to exercise my right to revoke within seven (7) days of my acceptance of this Release, I warrant and represent that I will do the
following: (1) notify the Company in writing of my intent to revoke my agreement, and (2) simultaneously return in full the consideration,
if any, received from the Company Entities pursuant to the Employment Agreement and which consideration was expressly subject to
my signing this Release.

 

Upon its effectiveness,
this Release, the Employment Agreement and the Continuing Obligations, together with any applicable equity award agreements and
equity plans, contains the entire agreement and understanding of the parties relating to the subject matter hereof and supersedes
and replaces all prior and contemporaneous agreements, representations and understandings (whether oral or written) regarding the
subject matter hereof. Once executed by me, this Release may be modified only in a document signed by me and the Company and referring
specifically hereto, and no handwritten changes to this Release will be binding unless initialed by me and the Company. If any
portion of this Release is held to be unenforceable by any court of competent jurisdiction, the parties intend that such portion
be modified to make it enforceable to the maximum extent permitted by law. If any such portion (other than the general release
provisions) cannot be modified to be enforceable, such portion shall become null and void leaving the remainder of this Release
in full force and effect.

 

This Release shall
be binding upon and inure to the benefit of (i) the Released Parties, including the successors and assigns of the Released
Parties, all of which are intended third-party beneficiaries, and (ii) me and my heirs, successors and assigns. This Release is
not an admission of liability or wrongdoing by me or any of the Released Parties, and such wrongdoing or liability is expressly
denied.

 

    	 	21	 

     

    

 

I further warrant and
represent that I fully understand and appreciate the consequence of my signing this Release and that I am signing it voluntarily.

 

IN WITNESS WHEREOF,
I hereby acknowledge receipt of consideration and execute the foregoing agreement at              ,
this day of             , 20  .

 

	 	 
	 	Andrew Cooper

 

Witnessed by        
on this          day of          ,
20   .

 

	 	 
	 	WITNESS

 

 

    	 	22

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