Document:

NOTE PURCHASE AGREEMENT

NOTE
PURCHASE AGREEMENT (this “Agreement”), dated as of [__], 2013, by and between Longview Real Estate
Inc., a Delaware corporation (the “Company”), and each of the lender entities whose names appear on the
signature pages hereof. Such lender entities are each referred to herein as a “Lender” and, collectively,
as the “Lenders”.

W I T N E S S E T H:

WHEREAS, the
Company wishes to sell to each Lender, and each Lender wishes to purchase, upon the terms and subject to the conditions
set forth in this Agreement, up to an aggregate of $________________ of Promissory Notes, substantially in the form attached hereto as
Exhibit A annexed hereto (a “Note” and, collectively with the other Notes issued hereunder,
the “Notes”).

 

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

1.                  
Certain Definitions. 

 

(a)                
When used herein, the following terms shall have the respective meanings
indicated:

 

“Board
of Directors” means the Company’s board of directors.

 

“Business
Day” means any day other than a Saturday, a Sunday or a day on which the New
York Stock Exchange is closed or on which banks in the City of New York are required or authorized by law to be closed.

 

“Closing”
and “Closing Date” have the respective meanings specified in Section 2 of this Agreement.

 

“Commission”
means the Securities and Exchange Commission, and any successor regulatory agency.

 

“Escrow
Agreement” has the meaning set forth in Section 2.

 

“Event
of Default” has the meaning specified in the Notes.

 

“Exchange
Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder.

 

“Execution
Date” means the date of this Agreement.

 

“GAAP”
means U.S. generally accepted accounting principles, applied on a consistent basis. Accounting principles are applied on a “consistent
basis” when the accounting principles applied in a current period are comparable in all material respects to those accounting
principles applied in a preceding period.

    	 

    	 

    

 

“Governmental
Authority” means any nation or government, any state, provincial or political subdivision thereof and any entity
exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government, including,
without limitation, any stock exchange, securities market or self-regulatory organization.

 

“Material
Adverse Effect” means an effect that is material and adverse to (i) the consolidated business, properties,
assets, operations, results of operations, financial condition, credit worthiness or prospects of the Company taken as a whole,
(ii) the ability of the Company to perform its material obligations under this Agreement or the other Transaction Documents or
(iii) the rights and benefits to which an Lender is entitled under this Agreement or any of the other Transaction Documents.

“Purchase
Price” means, with respect to the Notes purchased at the Closing, the original principal amount of the Note purchased
at the Closing.

 

“Securities
Act” means the Securities Act of 1933 Act, as amended, and the rules and regulations promulgated thereunder.

 

“Transaction
Documents” means (i) this Agreement, (ii) the Notes, (iii) the Escrow Agreement and (iv) all other agreements, documents
and other instruments executed and delivered by or on behalf of the Company or any of its officers at the Closing.

 

(b)Other Definitional
Provisions. All definitions contained in this Agreement are equally applicable to the singular and plural forms of the terms
defined. The words “hereof”, “herein” and “hereunder” and words of similar import contained
in this Agreement refer to this Agreement as a whole and not to any particular provision of this Agreement.

 

		2.	Closing. 

 

Upon
the terms and subject to the satisfaction or waiver of the conditions set forth herein, the Company agrees to sell and each Lender
agrees to purchase a Note with a principal amount equal to the amount set forth below such Lender’s name on the signature
pages hereof. The date on which the closing of such purchase and sale occurs (the “Closing”) is hereinafter
referred to as the “Closing Date”. The Closing will be deemed to occur at the offices of Longview
Real Estate, Inc. or such other place as the parties mutually agree upon, when (A) this Agreement and the other Transaction
Documents (as defined below) have been executed and delivered by the Company and each Lender, (B) each of the conditions to the
Closing described in this Agreement has been satisfied or waived as specified therein and (C) payment of each Lender’s Purchase
Price payable with respect to the Note being purchased by such Lender at the Closing has been made by wire transfer of immediately
available funds. At the Closing, the Company shall deliver to the Escrow Agent a duly executed instrument representing the Note
purchased by such Lender and each Lender shall deliver to the Escrow Agent, the payment of such Lender’s purchase price for
the Notes, in immediately available funds. 

 

    	2

    	 

    

 

3.                  
Representations and Warranties of the Company. The Company represents and warrants
to each Lender as follows, in each case as of the date hereof:

(a)                
The Company is duly organized, validly existing and in good standing under the laws of the
jurisdiction of its organization with full power and authority to own, lease, license and use its properties and assets and to
carry out the business in which it is engaged.

(b)                
The Company has the requisite corporate power and authority to execute, deliver and perform
its obligations under this Agreement and to issue and sell the Notes. All necessary proceedings of the Company have been duly
taken to authorize the execution, delivery, and performance of the Transaction Documents. The Transaction Documents have been duly
authorized by the Company and, when executed and delivered by the Company, will constitute the legal, valid and binding obligation
of the Company enforceable against the Company in accordance with their terms, except as such enforceability may be limited by
general principles of equity or to applicable bankruptcy, insolvency, reorganization, moratorium, liquidation and other similar
laws relating to, or affecting generally, the enforcement of applicable creditors' rights and remedies. 

(c)                
No consent of any party to any contract, agreement, instrument, lease or license to which
the Company is a party or to which any of its properties or assets are subject is required for the execution, delivery or performance
by the Company of any of the Transaction Documents or the issuance and sale of the Notes.

(d)                
The execution, delivery and performance by Company of the Transaction Documents to which it
is a party have been duly authorized, and do not (i) conflict with any of its organizational documents, (ii) contravene, conflict
with, constitute a default under or violate any material statute, law, rule, regulation or court decree binding upon or applicable
to the Company, or its assets or properties, (iii) contravene, conflict or violate any applicable order, writ, judgment, injunction,
decree, determination or award of any Governmental Authority by which the Company or any of its subsidiaries or any of their property
or assets may be bound or affected, (iv) require any action by, filing, registration, or qualification with, or governmental
approval from, any Governmental Authority (except such governmental approvals which have already been obtained and are in full
force and effect) or (v) constitute an event of default or give rise to a right to terminate under any material agreement
by which the Company is bound. The Company is not in default under any agreement to which it is a party or by which it is bound
in which the default could reasonably be expected to have a Material Adverse Effect on Company’s business.

(e)                
There are no actions or proceedings pending or, to the knowledge of the Company, threatened
in writing by or against Company involving more than, individually or in the aggregate, Ten Thousand Dollars ($10,000).

(f)                 
The financial statements of the Company filed with the Commission have been prepared in accordance
with United States generally accepted accounting principles applied on a consistent basis during the periods involved (“GAAP”),
except as may be otherwise specified in such financial statements or the notes thereto and except that the financial statements
may not contain all footnotes required by GAAP, and fairly present in all material respects the financial position of the Company
and for the dates thereof and the results of operations and cash flows for the periods then ended, subject to normal, immaterial,
year-end audit adjustments.

    	3

    	 

    

 

(g)                
Each Note has been duly authorized and, when issued and paid for in accordance with the terms
of the applicable Transaction Documents, will be duly and validly issued, fully paid and non-assessable, and free and clear of
all liens other than restrictions on transfer provided for in the Transaction Documents. 

(h)                
There is no action, suit, inquiry, notice of violation, proceeding or investigation pending
or, to the knowledge of the Company, threatened against or affecting the Company before or by any court, arbitrator, governmental
or administrative agency or regulatory authority (federal, state, county, local or foreign) (collectively, an “Action”)
which (i) adversely affects or challenges the legality, validity or enforceability of any of the Transaction Documents or the issuance
of the Notes or (ii) could, if there were an unfavorable decision, have or reasonably be expected to result in a Material Adverse
Effect. Neither the Company nor any director or officer thereof, is or has been the subject of any Action involving a claim of
violation of or liability under federal or state securities laws or a claim of breach of fiduciary duty. There has not been, and
to the knowledge of the Company, there is not pending or contemplated, any investigation by the Commission involving the Company
or any current or former director or officer of the Company.

(i)                  
The Company possesses all certificates, authorizations and permits issued by the appropriate
federal, state, local or foreign regulatory authorities necessary to conduct its businesses as currently conducted or as contemplated
to be conducted, except where the failure to possess such permits could not reasonably be expected to result in a Material Adverse
Effect (“Material Permits”), and the Company has not received any notice of proceedings relating to the
revocation or modification of any Material Permit.

(j)                 
Assuming the accuracy of Lender’s representations and warranties set forth herein, no
registration under the Securities Act is required for the offer and sale of the Note by the Company to Lender as contemplated hereby.

(k)                
Neither the Company nor any person acting on behalf of the Company has offered or sold any
of the Notes by any form of general solicitation or general advertising. The Company has offered the Notes for sale only to Lenders.

(l)                  
The Company acknowledges and agrees that Lenders are acting solely in the capacity of an arm’s
length purchasers with respect to the Transaction Documents and the transactions contemplated thereby. The Company further acknowledges
that Lender is not acting as a financial advisor or fiduciary of the Company (or in any similar capacity) with respect to the Transaction
Documents and the transactions contemplated thereby and any advice given by Lenders or any of its or their representatives or agents
in connection with the Transaction Documents and the transactions contemplated thereby is merely incidental to the Lender’s
purchase of the Note. The Company further represents to each Lender that the Company’s decision to enter into this Agreement
has been based solely on the independent evaluation of the transactions contemplated hereby by the Company and its representatives.

(m)              
The Company: (i) is not in violation of any order of any court, arbitrator or governmental
body or (ii) is not or has not been in violation of any statute, rule or regulation of any governmental authority, including without
limitation all foreign, federal, state and local laws applicable to its business, except in each case as could not have or reasonably
be expected to result in a Material Adverse Effect.

    	4

    	 

    

 

(n)                
The Company has good and marketable title in all personal property owned by it that is material
to the business of the Company, free and clear of all liens, except for liens that do not materially affect the value of such property
and do not materially interfere with the use made and proposed to be made of such property by the Company, liens for the payment
of federal, state, foreign or other taxes, the payment of which is neither delinquent nor subject to penalties. Any real property
and facilities held under lease by the Company are held by it under valid, subsisting and enforceable leases with which the Company
is in compliance. 

(o)                
The Company owns all right, title and interest in, or possesses adequate and enforceable rights
to use, all patents, patent applications, trademarks, trade names, service marks, copyrights, rights, licenses, franchises, trade
secrets, confidential information, processes, formulations, software and source and object codes necessary for the conduct of their
businesses, which are listed in the Company’s filings with the Commission (collectively, the “Intangibles”).
The Company has not infringed upon the rights of others with respect to the Intangibles and the Company has not received notice
that it has or may have infringed or are infringing upon the rights of others with respect to the Intangibles, or any notice of
conflict with the asserted rights of others with respect to the Intangibles that could, individually or in the aggregate, or could
reasonably be expected to have, have a Material Adverse Effect.

(p)                
The Company is insured by insurers of recognized financial responsibility against such losses
and risks and in such amounts as management of the Company believes to be prudent and customary in the businesses in which the
Company is engaged. The Company does not have any reason to believe that it will not be able to renew its existing insurance coverage
as and when such coverage expires or to obtain similar coverage from similar insurers as may be necessary to continue its business
at a cost that would not have a Material Adverse Effect.

(q)                
None of the officers or directors of the Company and, to the knowledge of the Company, none
of the employees of the Company, is presently a party to any transaction with the Company (other than for services as employees,
officers and directors), including any contract, agreement or other arrangement providing for the furnishing of services to or
by, providing for rental of real or personal property to or from, or otherwise requiring payments to or from any officer, director
or such employee or, to the knowledge of the Company, any entity in which any officer, director, or any such employee has a substantial
interest or is an officer, director, trustee or partner, in each case in excess of $20,000, other than for: (i) payment of salary
or consulting fees for services rendered, (ii) reimbursement for expenses incurred in the ordinary course of business on behalf
of the Company and (iii) other employee benefits, including stock option agreements, under any stock option plan of the Company.

(r)                 
At closing, no brokerage or finder’s fees or commissions are or will be payable by the
Company to any broker, financial advisor or consultant, finder, placement agent, investment banker, bank or other person with respect
to the transactions contemplated by the Transaction Documents. Lender shall have no obligation with respect to any fees or with
respect to any claims made by or on behalf of other persons for fees of a type contemplated in this Section that may be due in
connection with the transactions contemplated by the Transaction Documents.

    	5

    	 

    

 

(s)                 
The Company is not, and is not an affiliate of, and immediately after receipt of payment for
the Notes, will not be or be an affiliate of, an “investment company” within the meaning of the Investment Company
Act of 1940, as amended. 

(t)                 
Except for matters that would not, individually or in the aggregate, have or reasonably be
expected to result in a Material Adverse Effect, the Company has filed all necessary federal, state and foreign income and franchise
tax returns and has paid or accrued all taxes shown as due thereon, and the Company has no knowledge of a tax deficiency which
has been asserted or threatened against the Company.

(u)                
None of the Company, or to the knowledge of the Company, any agent or other person acting
on behalf of the Company, has: (i) directly or indirectly, used any funds for unlawful contributions, gifts, entertainment or other
unlawful expenses related to foreign or domestic political activity, (ii) made any unlawful payment to foreign or domestic government
officials or employees or to any foreign or domestic political parties or campaigns from corporate funds, (iii) failed to disclose
fully any contribution made by the Company (or made by any person acting on its behalf of which the Company is aware) which is
in violation of law or (iv) violated in any material respect any provision of the Foreign Corrupt Practices Act of 1977, as amended.

(v)                
There are no disagreements of any kind presently existing, or reasonably anticipated by the
Company to arise, between the Company and the accountants and lawyers formerly or presently employed by the Company which could
affect the Company’s ability to perform any of its obligations under any of the Transaction Documents.

(w)               
The Company is not in default with respect to, or liable under (x) any liabilities for borrowed
money or amounts owed in excess of $10,000 (other than trade accounts payable incurred in the ordinary course of business), or
(y) any guaranties, endorsements and other contingent obligations in respect of indebtedness of others, whether or not the same
are or should be reflected in the Company’s balance sheet (or the notes thereto), except guaranties by endorsement of negotiable
instruments for deposit or collection or similar transactions in the ordinary course of business.

(x)                
 Neither the Company nor, to the knowledge of the Company, any director, officer, agent, employee
or affiliate of the Company is currently subject to any U.S. sanctions administered by the Office of Foreign Assets Control of
the U.S. Treasury Department (“OFAC”); and the Company will not, directly or indirectly, use the proceeds of the offering,
or lend, contribute or otherwise make available such proceeds to any, joint venture partner or other person, for the purpose of
financing the activities of any person currently subject to any U.S. sanctions administered by OFAC.

4.                  
Representations, Warranties and Covenants of Lender. Lender hereby represents and warrants
to, and agrees with, the Company as follows:

(a)                
Lender is an “Accredited Investor” as such term is defined in Rule 501(a) promulgated
under the Securities Act.

(b)                
Each of the Transaction Documents to which Lender is party has been duly executed and delivered
by Lender and constitutes the legal, valid and binding obligation of Lender, enforceable against Lender in accordance with its
terms except as such enforceability may be limited by general principles of equity or to applicable bankruptcy, insolvency, reorganization,
moratorium, liquidation and other similar laws relating to, or affecting generally, the enforcement of applicable creditors' rights
and remedies.

(c)                
The execution, delivery and performance by Lender of the Transaction Documents to which it
is a party have been duly authorized, and do not (i) conflict with any of Lender’s organizational documents, (ii) contravene,
conflict with, constitute a default under or violate any material statute, law, rule, regulation or court decree binding upon or
applicable to Lender or its assets or properties, (iii) contravene, conflict or violate any applicable order, writ, judgment,
injunction, decree, determination or award of any Governmental Authority by which Lender or any of its property or assets may be
bound or affected, (iv) require any action by, filing, registration, or qualification with, or governmental approval from,
any Governmental Authority (except such governmental approvals which have already been obtained and are in full force and effect)
or (v) constitute an event of default or give rise to a right to terminate under any material agreement by which Lender is
bound.

    	6

    	 

    

(d)                
Lender is familiar with the business, plans and financial condition of the Company; Lender
has received all materials that have been requested by Lender; Lender has had a reasonable opportunity to ask questions of the
Company and its representatives, and the Company has answered to the satisfaction of Lender all inquiries that Lender or Lender’s
representatives have put to it. Lender has had access to all additional information that Lender has deemed necessary to verify
the accuracy of the information set forth in this Agreement, and has taken all the steps necessary to evaluate the merits and risks
of an investment as proposed under this Agreement.

(e)                
Lender hereby acknowledges and represents that Lender is able to bear the economic risk which
Lender hereby assumes. 

(f)                 
Lender understands the various risks of an investment in the Company as proposed herein and
can afford to bear such risks, including, without limitation, the risks of losing the entire investment.

(g)                
Lender will acquire the Notes for Lender’s own account (or, if such individual is married,
for the joint account of Lender and Lender’s spouse either in joint tenancy, tenancy by the entirety or tenancy in common)
for investment and not with a view to the sale or distribution thereof or the granting of any participation therein in violation
of the securities laws, and has no present intention of distributing or selling to others any of such interest or granting any
participation therein in violation of the securities laws.

(h)                
Lender is not entering into this Agreement or purchasing the Notes as a result of or subsequent
to any advertisement, article, notice or other communication published in any newspaper, magazine or similar media or broadcast
over television or radio, or presented at any seminar or meeting, or any solicitation by a person other than a representative of
the Company with which Lender had a pre-existing relationship.

		5.	Additional Covenants of the Company.

(a)                
Certain Covenants of the Company. Until such time as the Notes or any accrued fees or interest
remain unpaid or outstanding, the Company shall comply and operate in accordance with all of the following covenants and agreements:

(i)                  
Compliance with Laws. The Company will comply in all material respects with all applicable
laws, ordinances, rules, regulations, decisions, orders and requirements of governmental authorities.

 

(ii) Notice
of Legal Matters. The Company shall notify Lenders promptly after the Company shall obtain knowledge of any written notice
of any legal or arbitral proceedings, and of all proceedings by or before any governmental authority, and each material development
in respect of such legal or other proceeding affecting the Company, except proceedings which, if adversely determined, would not
reasonably be likely to have a Material Adverse Effect.

 

(iii) Books
and Records; Inspection and Audit Rights. The Company will keep proper books of record and account in which full, true and
correct entries are made of all dealings and transactions in relation to its business and activities. The Company will permit any
representatives designated by Lenders, upon reasonable prior notice, to visit and inspect its properties, to examine and make extracts
from its books and records, and to discuss its business, assets, affairs, finances, prospects, and condition with its officers
and independent accountants, all at such reasonable times during normal business hours and as often as reasonably requested. Promptly
upon Lender’s written request therefor, the Company shall deliver to Lender such documents and other evidence of the existence,
good standing, foreign qualification and financial condition of the Company as Lender shall request from time to time.

 

(iv) Notice of Other Material
Events. Until such time as the Notes or any accrued fees or interest remain unpaid or outstanding, the Company shall provide
notice of the following:

 

a.                  
The Company shall furnish to Lender prompt (but in no event more than two (2) business days
after the relevant occurrence) written notice of the occurrence of any Event of Default or any other event or circumstance that
results in, or could reasonably be expected to result in, a Material Adverse Effect. 

 

b.                  
The Company shall furnish to Lender written notice of the following not less than thirty (30)
days prior to the occurrence thereof: (A) any change of the Company’s corporate name or of any trade name used to identify
it in the conduct of its business or in the ownership of its properties, (B) any change of the state in which the Company is organized
or conducts business, (C) any change of the Company’s principal place of business, or (D) any change of the Company’s
identity or corporate structure. 

 

    	7

    	 

    

 

c.                   
Each notice delivered under this Section shall be accompanied by a statement of the Company
setting forth the details of the event or development requiring such notice and any action taken or proposed to be taken with respect
thereto.

 

(v) Further
Assurances. At any time or from time to time after the execution hereof, the Company will promptly execute, deliver, verify,
acknowledge, record and/or file any and all further documents and instruments (including financing statements and continuation
statements), and promptly take any and all such other and further actions, as Lender may request in order to evidence or more fully
effectuate the transactions and security arrangements contemplated hereby and to otherwise carry out the terms hereof.

 

(vi)Notice
of Event of Default. Upon the occurrence of an Event of Default, the Company shall notify the Lenders of the nature of such
Event of Default as soon as practicable (but in no event later than five (5) Business Day after the Company becomes aware of such
Event of Default).

 

6.                  
Conditions to Lenders’ Obligations at the Closing. Each Lender’s obligations
to effect the Closing, including without limitation its obligation to purchase its Note at the Closing, are conditioned upon the
fulfillment (or waiver by such Lender in its sole and absolute discretion) of each of the following events as of the Closing Date,
and the Company shall use commercially reasonable efforts to cause each of such conditions to be satisfied:

(a)                
the representations and warranties of the Company set forth in this Agreement and in the other
Transaction Documents shall be true and correct in all material respects as of such date as if made on such date (except that to
the extent that any such representation or warranty relates to a particular date, such representation or warranty shall be true
and correct in all material respects as of that particular date); 

(b)                
the Company shall have complied with or performed in all material respects all of the agreements,
obligations and conditions set forth in this Agreement and in the other Transaction Documents that are required to be complied
with or performed by the Company on or before the Closing; 

(c)                
the Company shall have executed and delivered to such Lender the
Note being purchased by such Lender at the Closing;

(d)                
there shall have occurred no material adverse change in the Company’s
consolidated business or financial condition since the date of the Company’s most recent financial statements; 

(e)                
there shall be no injunction,
restraining order or decree of any nature of any court or Governmental Authority of competent jurisdiction that is in effect that
restrains or prohibits the consummation of the transactions contemplated hereby and by the other Transaction Documents.

    	8

    	 

    

 

7.                  
Conditions to Company’s Obligations at the Closing. The Company’s obligations
to affect the Closing with Lenders are conditioned upon the fulfillment (or waiver by the Company in its sole and absolute discretion)
of each of the following events as of the Closing Date:

(a)the
representations and warranties of such Lender set forth in this Agreement and in the other Transaction Documents to which it is
a party shall be true and correct in all material respects as of such date as if made on such date (except that to the extent that
any such representation or warranty relates to a particular date, such representation or warranty shall be true and correct in
all material respects as of that date);

 

(b)such
Lender shall have complied with or performed all of the agreements, obligations and conditions set forth in this Agreement that
are required to be complied with or performed by such Lender on or before the Closing;

 

(c)there
shall be no injunction, restraining order or decree of any nature of any court or Governmental Authority of competent jurisdiction
that is in effect that restrains or prohibits the consummation of the transactions contemplated hereby and by the other Transaction
Documents; 

 

(d) such Lender
shall have executed each Transaction Document to which it is a party and shall have delivered the same to the Company; and

(e) Lender
shall have tendered the Purchase Price for the Note being purchased by it at the Closing by wire transfer of immediately available
funds to the Escrow Agent.

8. General
Provisions.

a.                  
Governing Law; Jurisdiction. THIS AGREEMENT SHALL BE GOVERNED IN ALL RESPECTS BY THE
INTERNAL LAWS OF THE STATE OF NEW YORK WITHOUT REFERENCE TO PRINCIPLES OF CONFLICTS OF LAWS. THE COMPANY CONSENTS TO THE EXCLUSIVE
JURISDICTION OF THE FEDERAL OR STATE COURT LOCATED IN NEW YORK, NEW YORK, WITH RESPECT TO ANY CLAIM OR CONTROVERSY RELATED TO THE
ENFORCEMENT OR INTERPRETATION OF THIS NOTE.

b.                  
Notices. Any notice or other communication required or permitted to be given hereunder
shall be in writing by mail, facsimile or personal delivery and shall be effective upon actual receipt of such notice. The addresses
for such communications shall be as set forth below until notice is received that any such address or contact information has been
changed:

To
the Company:To the address on the signature page attached hereto 

 

To Lender:To
the address on the signature page attached hereto.

c.                   
Entire Agreement. Except as otherwise provided herein, this Agreement, the Note and
the other documents delivered pursuant hereto constitute the full and entire understanding and agreement between the parties with
regard to the subjects hereof and thereof.

d.                  
Amendment. This Agreement may only be amended, waived, discharged or terminated by
a written instrument signed by the party against whom enforcement of any such amendment, waiver, discharge or termination is sought.

e.                   
Successors and Assigns. This Agreement and the Note may be transferred or assigned
by Lender in whole or in part, with the written consent of the Company. Except as otherwise expressly provided in this Agreement,
the provisions of this Agreement shall inure to the benefit of, and be binding upon, the successors, assigns, heirs, executors
and administrators of the parties hereto.

f.                   
Severability. In case any provision of this Agreement shall be invalid, illegal or
unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired
thereby.

g.                   
Titles and Subtitles. The titles of the Sections of this Agreement are for convenience
of reference only and are not to be considered in construing this Agreement.

h.                  
Expenses. The Company and Lender shall each bear their own expenses incurred with respect
to this transaction.

i.                    
Counterparts. This Agreement may be executed in any number of counterparts, each of
which shall be an original, but all of which together shall be deemed to constitute one instrument.

j.                    
Counsel. All parties hereto have been represented by counsel, and no inference shall
be drawn in favor of or against any party by virtue of the fact that such party’s counsel was or was not the principal draftsman
of this Agreement. Each of the parties has been provided the opportunity to be represented by counsel of its choice and has been
encouraged to seek separate representation to the extent that it deems such desirable, but the absence of such shall not be asserted
as a basis for the enforceability or interpretation of any of the terms or provisions of this Agreement, or as a reason to seek
disqualification of the Company’s counsel in any controversy or proceeding. 

[SIGNATURE
PAGE TO FOLLOW]

    	9

    	 

    

 

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

 

 

Longview
Real Estate Inc.

 

 

By:_______________________________

Name:

Title:

 

 

Address for Notice:

[SIGNATURE PAGE FOR NOTE PURCHASE AGREEMENT]

 

 

 

________________________

________________________

________________________

 

 

 

By:

Dated:

 

Principal
Amount of Note Purchased at Closing:$ 

 

ADDRESS:

    	10

    	 

    

 

Exhibit A

Form of Promissory Note

    	11FORM OF

 

STOCKHOLDERS AGREEMENT

BY AND AMONG

INTRAWEST RESORTS HOLDINGS, INC.,

INTRAWEST EUROPE HOLDINGS S.À R.L.

AND

INTRAWEST S.À R.L.

 

 

Dated as of [•], 2014

 

    	 

    	 

    

TABLE OF CONTENTS

 

		 	 	 	 
	 	 	 	 	 	Page 	 
		 	ARTICLE I
 
 DEFINITIONS 	 	 	 	 
	 	 	 	 	 	 	 
	Section 1.1	 	Certain Defined Terms	 	 	1	 
	Section 1.2	 	Construction.	 	 	6	 
	 	 	 	 	 	 	 
	 	 	ARTICLE II
 
 TRANSFER 	 	 	 	 
	 	 	 	 	 	 	 
	Section 2.1	 	Binding Effect on Transferees	 	 	6	 
	Section 2.2	 	Additional Purchases	 	 	6	 
	Section 2.3	 	Charter Provisions	 	 	6	 
	Section 2.4	 	Legend	 	 	6	 
	 	 	 	 	 	 	 
		 	ARTICLE III
 
 BOARD OF DIRECTORS 	 	 	 	 
	 	 	 	 	 	 	 
	Section 3.1	 	Board	 	 	7	 
	Section 3.2	 	Committees	 	 	9	 
	 	 	 	 	 	 	 
		 	ARTICLE IV
 
 REGISTRATION RIGHTS 	 	 	 	 
	 	 	 	 	 	 	 
	Section 4.1	 	Demand Registration	 	 	9	 
	Section 4.2	 	Piggyback Registrations	 	 	11	 
	Section 4.3	 	Shelf Registration	 	 	12	 
	Section 4.4	 	Withdrawal Rights	 	 	14	 
	Section 4.5	 	Registration Procedures	 	 	14	 
	Section 4.6	 	Registration Expenses	 	 	28	 
	 	 	 	 	 	 	 
		 	ARTICLE V
 
 INDEMNIFICATION 	 	 	 	 
	 	 	 	 	 	 	 
	Section 5.1	 	General Indemnification	 	 	19	 
	Section 5.2	 	Registration Statement Indemnification	 	 	19	 
	Section 5.3	 	Contribution	 	 	20	 
	Section 5.4	 	Procedure	 	 	20	 
	Section 5.5	 	Other Matters	 	 	21	 

 

    	i

    	 

    

	 	 	ARTICLE VI 
 
 SERVICES  	 	 	 	 
	 	 	 	 	 	 	 
	Section 6.1	 	Tax Services	 	 	22	 
	 	 	 	 	 	 	 
	 	 	ARTICLE VII
 
 MISCELLANEOUS 	 	 	 	 
	 	 	 	 	 	 	 
	Section 7.1	 	Headings	 	 	22	 
	Section 7.2	 	Entire Agreement	 	 	22	 
	Section 7.3	 	Further Actions; Cooperation	 	 	22	 
	Section 7.4	 	Notices	 	 	22	 
	Section 7.5	 	Applicable Law	 	 	24	 
	Section 7.6	 	Severability	 	 	24	 
	Section 7.7	 	Successors and Assigns	 	 	24	 
	Section 7.8	 	Amendments	 	 	24	 
	Section 7.9	 	Waiver	 	 	25	 
	Section 7.10	 	Counterparts	 	 	25	 
	Section 7.11	 	Submission To Jurisdiction	 	 	25	 
	Section 7.12	 	Injunctive Relief	 	 	25	 
	Section 7.13	 	Recapitalizations, Exchanges, Etc. Affecting the Shares of Common Stock; New Issuance	 	 	25	 
	Section 7.14	 	Termination	 	 	26	 
	Section 7.15	 	Third Party Beneficiary	 	 	26	 
	Section 7.16	 	Rule 144	 	 	26	 
	Section 7.17	 	Information	 	 	26	 

 

    	ii

    	 

    

STOCKHOLDERS AGREEMENT

 

THIS STOCKHOLDERS AGREEMENT (this “Agreement”)
is made as of , 2014, by and between Intrawest Europe Holdings S.à r.l., a société à responsabilité
limitée (private limited liability company) duly formed and validly existing under the laws of the Grand-Duchy of Luxembourg
(“IEH”), Intrawest S.à r.l., a société à responsabilité limitée
(private limited liability company) duly formed and validly existing under the laws of the Grand-Duchy of Luxembourg (“ITW
S.à r.l.”) and Intrawest Resorts Holdings, Inc., a Delaware corporation (the “Company”). Unless
otherwise indicated, references to articles and sections shall be to articles and sections of this Agreement. WHEREAS, the IEH
and ITW S.à r.l. are holders of shares of Common Stock (as hereinafter defined); and

 

WHEREAS, the Company has agreed to provide
the registration rights and other rights set forth herein.

 

NOW, THEREFORE, in consideration of the foregoing
and of the mutual covenants and agreements set forth herein and for good and valuable consideration, the receipt and sufficiency
of which is hereby acknowledged, the parties hereto hereby agree as follows:

 

ARTICLE
I

DEFINITIONS

 

Section
1.1            Certain
Defined Terms. For purposes of this Agreement, the following terms shall have the following meanings:

 

(a)               
“Actions” shall have the meaning assigned to it in Section 5.1(a).

 

(b)              
“Affiliate” shall have the meaning set forth in Rule 12b-2 promulgated under the Exchange Act; provided that
no Stockholder shall be deemed an Affiliate of any other Stockholder solely by reason of any investment in the Company.

 

(c)               
“Agreement” shall have the meaning assigned to it in the preamble.

 

(d)              
A Person shall be deemed to “Beneficially Own” securities if such Person is deemed to be a “beneficial
owner” within the meaning of Rules 13d-3 and 13d-5 under the Exchange Act as in effect on the date of this Agreement.

 

(e)               
“Board” shall mean the board of directors of the Company.

 

(f)               
“Bylaws” shall mean the bylaws of the Company, as may be amended and/or restated from time to time.

 

(g)              
“Cayman L.P. Limited Partnership Agreement” shall mean the Third Amended and Restated Exempted Limited Partnership
Agreement of Intrawest Cayman L.P., an exempted limited partnership formed and existing under the laws of the Cayman Islands, as
such agreement may be amended, supplemented, modified or replaced.

    	1

    	 

    

 

(h)              
“Certificate of Incorporation” shall mean the certificate of incorporation of the Company, as may be amended
and/or restated from time to time.

 

(i)                
“Commission” shall mean the United States Securities and Exchange Commission or any successor agency.

 

(j)                
“Common Stock” shall mean the Company’s common stock, par value $0.01 per share, and any and all securities
of any kind whatsoever of the Company which may be issued and outstanding on or after the date hereof in respect of, in exchange
for, or upon conversion of shares of Common Stock pursuant to a merger, consolidation, stock split, stock dividend, recapitalization
of the Company or otherwise.

 

(k)              
“Company” shall have the meaning assigned to it in the preamble.

 

(l)                
“Company Securities” shall mean (i) any Common Stock and (ii) any other securities of the Company entitled to
vote generally in the election of directors of the Company.

 

(m)            
“Demand” shall have the meaning assigned to it in Section 4.1(a).

 

(n)              
“Demand Registration” shall have the meaning assigned to it in Section 4.1(a).

 

(o)              
“Exchange Act” shall mean the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated
thereunder.

 

(p)              
“FIG” shall mean Fortress Investment Group LLC, a Delaware limited liability company.

 

(q)              
“FIG LLC” shall mean FIG LLC, a Delaware limited liability company, or any other Person designated as “FIG
LLC” by FIG in a written notice to the Company.

 

(r)                
“Filings” shall mean annual, quarterly and current reports and other documents filed or furnished by the Company
or any Subsidiary of the Company under the Exchange Act; annual reports to stockholders, annual and quarterly statutory statements
of the Company or any Subsidiary of the Company; and any registration statements, prospectuses documents filed or furnished by
the Company or any of its Subsidiaries under the Securities Act (other than any registration statement, any Issuer Free Writing
Prospectus, any prospectus or preliminary prospectus or any amendment thereof or supplement thereto to the extent that Section
5.2 of this Agreement applies).

 

(s)               
“FINRA” shall mean the Financial Industry Regulatory Authority.

 

(t)                
“Fortress Affiliate Stockholder” shall mean (A) any director of the Company who may be deemed an Affiliate of
FIG, (B) any director or officer of FIG or its Affiliates and (C) any investment funds (including any managed accounts) managed
directly or indirectly by FIG or its Affiliates.

    	2

    	 

    

 

(u)              
“Form S-3” shall have the meaning assigned to it in Section 4.3(a).

 

(v)              
“Free Writing Prospectus” shall mean a free writing prospectus, as defined in Rule 405 under the Securities
Act.

 

(w)            
 “Grove Limited Partners” shall have the meaning assigned to it in the Cayman L.P. Limited Partnership Agreement.

 

(x)              
“IEH” shall have the meaning assigned to it in the preamble.

 

(y)              
“Initial Public Offering” shall mean the initial public offering of Common Stock pursuant to an effective registration
statement under the Securities Act.

 

(z)               
“Initial Stockholders” shall mean IEH and ITW S.à r.l.

 

(aa)           
“Inspectors” shall have the meaning assigned to it in Section 4.5(a)(viii).

 

(bb)          
 “IPO Underwriting Agreement” shall mean the underwriting agreement, dated         ,
2014, between the Company and the underwriters named therein.

 

(cc)           
“Issuer Free Writing Prospectus” shall mean an issuer free writing prospectus, as defined in Rule 433 under
the Securities Act.

 

(dd)         
“ITW S.à r.l.” shall have the meaning assigned to it in the preamble.

 

(ee)           
“Losses” shall have the meaning assigned to it in Section 5.1(a).

 

(ff)            
“Offering Expenses” shall have the meaning assigned to it in Section 4.6(a).

 

(gg)          
“Other Demanding Sellers” shall have the meaning assigned to it in Section 4.2(b).

 

(hh)          
“Other Proposed Sellers” shall have the meaning assigned to it in Section 4.2(b).

 

(ii)              
“Partnership Interest” shall have the meaning assigned to it in the Cayman L.P. Limited Partnership Agreement.

 

(jj)              
“Permitted Transferee” shall mean, with respect to each Stockholder, (i) any other Stockholder, (ii) such Stockholder’s
Affiliates, (iii) in the case of any Stockholder, (A) any equity holder, member or general or limited partner of such Stockholder
(including any equity holder of the Initial Stockholders), (B) any corporation, partnership, limited liability company or other
entity that is an Affiliate of such Stockholder or any equity holder, member, general or limited partner of such Stockholder (collectively,
“Stockholder Affiliates”), (C) any investment funds managed directly or indirectly by such Stockholder or any Stockholder
Affiliate (a “Stockholder Fund”), (D) any general or limited partner of any Stockholder Fund, (E) any managing director,
general partner, director, limited partner, officer or employee of any Stockholder Affiliate, or any spouse, lineal descendant,
sibling, parent, heir, executor, administrator, testamentary trustee, legatee or beneficiary of any of the foregoing persons described
in this clause (E) (collectively, “Stockholder Associates”) or (F) any trust, the beneficiaries of which, or any corporation,
limited liability company or partnership, the stockholders, members or general or limited partners of which, consist solely of
any one or more of such Stockholder, any general or limited partner of such Stockholder, any Stockholder Affiliates, any Stockholder
Fund, any Stockholder Associates, their spouses or their lineal descendants and (iv) any other Person that acquires shares of Common
Stock from such Stockholder other than pursuant to a Public Offering and that agrees to become party to or be bound by this Agreement.

    	3

    	 

    

 

(kk)          
“Person” shall mean any individual, firm, corporation, partnership, limited liability company or other entity,
and shall include any successor (by merger or otherwise) of such entity.

 

(ll)              
“Piggyback Notice” shall have the meaning assigned to it in Section 4.2(a).

 

(mm)      
“Piggyback Registration” shall have the meaning assigned to it in Section 4.2(a).

 

(nn)          
“Piggyback Seller” shall have the meaning assigned to it in Section 4.2(a).

 

(oo)          
“Public Offering” shall mean an offering of equity securities of the Company pursuant to an effective registration
statement under the Securities Act, including an offering in which Stockholders are entitled to sell Common Stock pursuant to the
terms of this Agreement.

 

(pp)          
“Records” shall have the meaning assigned to it in Section 4.5(a)(viii).

 

(qq)          
“Registrable Amount” shall mean a number of shares of Common Stock equal to 1% of the Common Stock issued and
outstanding immediately after the consummation of the Initial Public Offering.

 

(rr)             
“Registrable Securities” shall mean any Common Stock currently owned or hereafter acquired by any Stockholder.
As to any particular Registrable Securities, such securities shall cease to be Registrable Securities when (x) a registration statement
registering such securities under the Securities Act has been declared effective and such securities have been sold or otherwise
transferred by the holder thereof pursuant to such effective registration statement or (y) such securities are sold in accordance
with Rule 144 (or any successor provision) promulgated under the Securities Act.

 

(ss)            
“Registration Expenses” shall have the meaning assigned to it in Section 4.6(a).

 

(tt)             
“Requesting Stockholder” shall have the meaning assigned to it in Section 4.1(a).

 

(uu)          
“Securities Act” shall mean the Securities Act of 1933, as amended, and the rules and regulations promulgated
thereunder.

 

(vv)          
“Selling Holders” shall have the meaning assigned to it in Section 4.5(a)(i).

 

(ww)      
“Shelf Notice” shall have the meaning assigned to it in Section 4.3(a).

    	4

    	 

    

 

(xx)          
“Shelf Registration Effectiveness Period” shall have the meaning assigned to it in Section 4.3(c).

 

(yy)          
“Shelf Registration Statement” shall have the meaning assigned to it in Section 4.3(a).

 

(zz)           
“Shelf Underwritten Offering” shall have the meaning assigned to it in Section 4.3(f).

 

(aaa)        
“Stockholders” shall mean (i) the Initial Stockholders, (ii) each Fortress Affiliate Stockholder and each entity
formed by a Fortress Affiliate Stockholder to directly or indirectly hold any interests in the Initial Stockholders or the Company
and (iii) each Permitted Transferee who becomes a party to or bound by the provisions of this Agreement in accordance with the
terms hereof or a Permitted Transferee thereof who is entitled to enforce the provisions of this Agreement in accordance with the
terms hereto, in each case of clauses (i), (ii) and (iii) to the extent that the Initial Stockholder, Fortress Affiliate Stockholders
and Permitted Transferees, together, hold of record or Beneficially Own at least a Registrable Amount.

 

(bbb)      
“Subsidiary” shall mean with respect to any Person (i) a corporation, fifty percent (50%) or more of the voting
or capital stock of which is, as of the time in question, directly or indirectly owned by such Person, (ii) any other partnership,
joint venture, association, joint stock company, trust, unincorporated organization or other entity in which such Person, directly
or indirectly, owns fifty percent (50%) or more of the equity economic interest thereof or has the power to elect or direct the
election of fifty percent (50%) or more of the members of the governing body of such entity or otherwise has control over such
entity (e.g., as the managing partner of a partnership), or (iii) which would be considered subsidiaries of such Person within
the meaning of Regulation S-K or Regulation S-X.

 

(ccc)        
“Suspension Period” shall have the meaning assigned to it in Section 4.3(d).

 

(ddd)     
“Third Lien Loan” shall have the meaning assigned to it in the Cayman L.P. Limited Partnership Agreement.

 

(eee)        
“Underwritten Offering” shall mean a sale of securities of the Company to an underwriter or underwriters for
reoffering to the public.

 

(fff)         
“Voting Power of the Company” shall mean the voting power of the then issued and outstanding capital stock of
the Company entitled to vote in the election of directors of the Company.

    	5

    	 

    

 

Section
1.2            Construction.
For the purposes of this Agreement (i) words (including capitalized terms defined herein) in the singular shall be held to include
the plural and vice versa and words (including capitalized terms defined herein) of one gender shall be held to include the other
gender as the context requires, (ii) the terms “hereof,” “herein” and “herewith” and words
of similar import shall, unless otherwise stated, be construed to refer to this Agreement as a whole and not to any particular
provision of this Agreement, and Article and Section references are to Articles and Sections of this Agreement, unless otherwise
specified, (iii) the word “including” and words of similar import when used in this Agreement shall mean “including,
without limitation,” (iv) all references to any period of days shall be deemed to be to the relevant number of calendar days
unless otherwise specified, and (v) all references herein to “$” or dollars shall refer to United States dollars, unless
otherwise specified.

 

ARTICLE
II

TRANSFER

 

Section
2.1            Binding
Effect on Transferees. A Permitted Transferee shall become a Stockholder hereunder, without any further action by the Company,
following a transfer by a Stockholder of Company Securities to such Permitted Transferee upon the execution by such Permitted Transferee
of a joinder providing that such Person shall be bound by and shall fully comply with the terms of this Agreement (including the
provisions of Article IV with respect to the Company Securities being transferred to such transferee). The Fortress Affiliate Stockholders
shall be deemed to be Stockholders without any further action.

 

Section
2.2            Additional
Purchases. Any Company Securities owned by a Stockholder on or after the date of this Agreement shall have the benefit of and
be subject to the terms and conditions of this Agreement.

 

Section
2.3            Charter
Provisions. The parties hereto shall use their respective reasonable efforts (including voting or causing to be voted all of
the Company Securities held of record by such party or Beneficially Owned by such party by virtue of having voting power over such
Company Securities) so as to cause no amendment to be made to the Certificate of Incorporation or Bylaws as in effect as of the
date of this Agreement in a manner that would (a) add restrictions to the transferability of the Company Securities by the Initial
Stockholders, any Fortress Affiliate Stockholder or their Permitted Transferees who remain a “Stockholder” (as such
term is used herein) at the time of such an amendment, which restrictions are beyond those then provided for in the Certificate
of Incorporation, this Agreement or applicable securities laws or (b) nullify any of the rights of the Initial Stockholders, any
Fortress Affiliate Stockholder or their Permitted Transferees who remain a “Stockholder” (as such term is used herein)
at the time of such amendment, which rights are explicitly provided for in this Agreement, unless, in each such case, such amendment
shall have been approved by such Stockholder.

 

Section
2.4            Legend.
Any certificate representing Company Securities issued to a Stockholder shall be stamped or otherwise imprinted with a legend in
substantially the following form:

 

“The shares represented by this
certificate are subject to the provisions contained in the Stockholders Agreement, dated as of , 2014, by and among Intrawest Resorts
Holdings, Inc. and the stockholder of Intrawest Resorts Holdings, Inc. described therein.”

    	6

    	 

    

 

The Company shall make customary arrangements to cause any Company
Securities issued in uncertificated form to be identified on the books of the Company in a substantially similar manner.

 

ARTICLE
III

BOARD OF DIRECTORS

 

Section
3.1            Board.

 

(a)               
For so long as this Agreement is in effect, the Company and each Stockholder shall take all reasonable actions within their
respective control (including voting or causing to be voted all of the Company Securities held of record by such Stockholder or
Beneficially Owned by such Stockholder by virtue of having voting power over such Company Securities, and, with respect to the
Company, as provided in Sections 3.1(d) and (e)) so as to cause to be elected to the Board, and to cause to continue in office:

 

(i)                
a number of directors equal to a majority of the Board, plus one director, shall be individuals designated by FIG LLC, for
so long as the Stockholders, together, have Beneficial Ownership of at least 30% of the Voting Power of the Company;

 

(ii)              
a number of directors equal to a majority of the Board, minus one director, shall be individuals designated by FIG LLC,
for so long as the Stockholders, together, have Beneficial Ownership of less than 30% but at least 20% of the Voting Power of the
Company, provided that if the Board consists of six or fewer directors, then FIG LLC shall have the right to designate a number
of directors equal to three directors;

 

(iii)            
a number of directors (rounded up to the nearest whole number) that would be required to maintain the Stockholder’s
proportional representation on the Board shall be individuals designated by FIG LLC, for so long as the Stockholders, together,
have Beneficial Ownership of less than 20% but at least 10% of the Voting Power of the Company, provided that if the Board consists
of six or fewer directors, then FIG LLC shall have the right to designate a number of directors equal to two directors; and

 

(iv)            
a number of directors (rounded up to the nearest whole number) that would be required to maintain the Stockholder’s
proportional representation on the Board shall be individuals designated by FIG LLC, for so long as the Stockholders, together,
have Beneficial Ownership of less than 10% but at least 5% of the Voting Power of the Company, provided that if the Board consists
of six or fewer directors, then FIG LLC shall have the right to designate a number of directors equal to one director.

    	7

    	 

    

 

(b)              
In addition to the number of directors that FIG LLC may designate pursuant Section 3.1(a), until the earlier of the date
on which (i) the Third Lien Loan is repaid in full or (ii) the Grove Limited Partners cease to own any Partnership Interest,
the Company shall take all reasonable actions within its control and as provided in Sections 3.1(d) and (e))
so as to cause to be elected to the Board, and to cause to continue in office, one additional director; provided that the director
elected pursuant to this Section 3.1(b) shall not be counted as a director designated by FIG LLC for purposes of the calculations
set forth in Section 3.1(a).

 

(c)               
If FIG LLC notifies the Stockholders of its desire to remove, with or without cause, any director previously designated
by it, the Stockholders shall vote or cause to be voted all of the shares of Company Securities held of record by such Stockholders
or Beneficially Owned by such Stockholders by virtue of having voting power over such Company Securities and take all other reasonable
actions within its control to cause the removal of such director.

 

(d)              
The Company agrees to include in the slate of nominees recommended by the Board those persons designated by FIG LLC in accordance
with Section 3.1(a) and 3.1(b) and to use its reasonable best efforts to cause the election of each such designee to the Board,
including nominating such designees to be elected as directors, in each case subject to applicable law.

 

(e)               
In the event that a vacancy is created at any time by the death, disability, retirement, resignation or removal (with or
without cause) of any director who is designated by FIG LLC in accordance with Section 3.1(a) or 3.1(b), the Company agrees to
take at any time and from time to time all actions necessary to cause the vacancy created thereby to be filled as promptly as practicable
by a new designee of FIG LLC. In the event that the size of the Board is expanded to more than six directors, the Company agrees
to take at any time and from time to time all actions necessary to cause the Board to continue to have the number of FIG LLC’s
designees that corresponds to the requirements of Section 3.1(a).

 

(f)               
In the event that at any time the number of directors entitled to be designated by FIG LLC pursuant to Section 3.1(a) decreases,
the Initial Stockholders and their Permitted Transferees shall take reasonable actions to cause a sufficient number of directors
designated pursuant to Section 3.1(a) to resign from the Board at or prior to the end of such designated director’s term
such that the number of designated directors after such resignation(s) equals the number of directors FIG LLC would have been entitled
to designate pursuant to Section 3.1(a). Any vacancies created by such resignation may remain vacant until the next annual meeting
of stockholders or filled by a majority vote of the Board. Notwithstanding the foregoing, such designated director(s) need not
resign from the Board at or prior to the end of such director’s term if the Company’s nominating committee recommends
the nomination of such director(s) for election at the next annual meeting coinciding with the end of such director’s term,
or otherwise (and for the avoidance of doubt, such director shall no longer be considered a designee of FIG LLC).

    	8

    	 

    

 

Section
3.2            Committees.
For so long as this Agreement is in effect, the Company shall take all reasonable actions within its control at any given time
so as to cause to be appointed to any committee of the Board a number of directors designated by FIG LLC that is up to the number
of directors that is proportionate (rounding up to the next whole director) to the representation that FIG LLC is entitled to designate
to the Board under Section 3.1(a), to the extent such directors are permitted to serve on such committees under the applicable
rules of the Commission and the New York Stock Exchange (“NYSE”) or by any other applicable stock exchange. It is understood
by the parties hereto that FIG LLC shall not be required to have its directors represented on any committee and any failure to
exercise such right in this section in a prior period shall not constitute any waiver of such right in a subsequent period.

 

ARTICLE
IV

REGISTRATION RIGHTS

 

Section
4.1            Demand
Registration.

 

(a)               
At any time after the date that is 180 days after the date hereof (or such earlier date (i) as would permit the
Company to cause any filings required hereunder to be filed on the 180th day after the date hereof or (ii) as is
permitted by waiver under the IPO Underwriting Agreement), any Person that is a Stockholder (a “Requesting Stockholder”)
on the date a Demand is made shall be entitled to make a written request of the Company (a “Demand”) for registration
under the Securities Act of a number of Registrable Securities that, when taken together with the number of Registrable Securities
requested to be registered under the Securities Act by such Requesting Stockholder’s Affiliates, equals or is greater than
the Registrable Amount (a “Demand Registration”) and thereupon the Company will, subject to the terms of this
Agreement, use its commercially reasonable efforts to effect the registration under the Securities Act of:

 

(i)                
the Registrable Securities which the Company has been so requested to register by the Requesting Stockholders for disposition
in accordance with the intended method of disposition stated in such Demand, which may be an Underwritten Offering;

 

(ii)              
all other Registrable Securities which the Company has been requested to register pursuant to Section 4.1(b); and

 

(iii)            
all shares of Common Stock which the Company may elect to register in connection with any offering of Registrable Securities
pursuant to this Section 4.1, but subject to Section 4.1(f);

 

all to the extent necessary to permit the disposition
(in accordance with the intended methods thereof) of the Registrable Securities and the additional Common Stock, if any, to be
so registered.

 

(b)              
A Demand shall specify: (i) the aggregate number of Registrable Securities requested to be registered in such Demand Registration,
(ii) the intended method of disposition in connection with such Demand Registration, to the extent then known and (iii) the identity
of the Requesting Stockholder (or Requesting Stockholders). Within five days after receipt of a Demand, the Company shall give
written notice of such Demand to any other Persons that on the date a Demand is delivered to the Company is a Stockholder (excluding
Fortress Affiliate Stockholders which have not signed a joinder as contemplated by Section 2.1). Subject to Section 4.1(f), the
Company shall include in the Demand Registration covered by such Demand all Registrable Securities with respect to which the Company
has received a written request for inclusion therein. Such written request shall comply with the requirements of a Demand as set
forth in this Section 4.1(b).

    	9

    	 

    

 

(c)               
Each Stockholder shall be entitled to an unlimited number of Demand Registrations until such time as the Stockholders, together,
Beneficially Own less than a Registrable Amount.

 

(d)              
Demand Registrations shall be on such registration form of the Commission for which the Company is eligible as shall be
selected by the Requesting Stockholders whose shares represent a majority of the Registrable Securities that the Company has been
requested to register, including, to the extent permissible, an automatically effective registration statement or an existing effective
registration statement filed by the Company with the Commission, and shall be reasonably acceptable to the Company.

 

(e)               
The Company shall not be obligated to effect any Demand Registration (A) within one month of a “firm commitment”
Underwritten Offering in which all Stockholders were given “piggyback” rights pursuant to Section 4.2 (subject
to Section 4.1(f)) and provided that at least 50% of the number of Registrable Securities requested by such Stockholders to
be included in such Demand Registration were included or (B) within one month of any other Underwritten Offering pursuant
to Section 4.3(e). In addition, the Company shall be entitled to postpone (upon written notice to all Stockholders) for a
reasonable period of time not to exceed 60 days in succession the filing or the effectiveness of a registration statement
for any Demand Registration (but no more than twice, or for more than 90 days in the aggregate, in any period of 12 consecutive
months) if the Board determines in good faith and in its reasonable judgment that the filing or effectiveness of the registration
statement relating to such Demand Registration would cause the disclosure of material, non-public information that the Company
has a bona fide business purpose for preserving as confidential. In the event of a postponement by the Company of the filing or
effectiveness of a registration statement for a Demand Registration, the holders of a majority of Registrable Securities held by
the Requesting Stockholder(s) shall have the right to withdraw such Demand in accordance with Section 4.4.

 

(f)               
The Company shall not include any securities other than Registrable Securities in a Demand Registration, except with the
written consent of Stockholders participating in such Demand Registration that hold a majority of the Registrable Securities included
in such Demand Registration. If, in connection with a Demand Registration, any managing underwriter (or, if such Demand Registration
is not an Underwritten Offering, a nationally recognized investment bank engaged in connection with such Demand Registration) advises
the Company, that, in its opinion, the inclusion of all of the securities, including securities of the Company that are not Registrable
Securities, sought to be registered in connection with such Demand Registration would adversely affect the marketability of the
Registrable Securities sought to be sold pursuant thereto, then the Company shall include in such registration statement only such
securities as the Company is advised by such underwriter or investment bank can be sold without such adverse effect as follows
and in the following order of priority: (i) first, up to the number of Registrable Securities requested to be included in
such Demand Registration by the Stockholders, which, in the opinion of the underwriter can be sold without adversely affecting
the marketability of the offering, pro rata among such Stockholders requesting such Demand Registration on the basis of the number
of such securities held by such Stockholders and such Stockholders that are Piggyback Sellers; (ii) second, securities the Company
proposes to sell; and (iii) third, all other securities of the Company duly requested to be included in such registration
statement, pro rata on the basis of the number of such other securities requested to be included or such other method determined
by the Company.

    	10

    	 

    

 

(g)              
Any investment bank(s) that will serve as an underwriter with respect to such Demand Registration or, if such Demand Registration
is not an Underwritten Offering, any investment bank engaged in connection therewith, shall be selected (i) by FIG LLC, for
so long as a majority of the outstanding Common Stock of the Company is owned by the Initial Stockholders, their Permitted Transferees
and any Fortress Affiliate Stockholder, and thereafter (ii) by the Stockholder participating in such Demand Registration that
holds (together with its Permitted Transferees) a number of Registrable Securities included in such Demand Registration constituting
a plurality of all Registrable Securities included in such Demand Registration.

 

Section
4.2            Piggyback
Registrations.

 

(a)               
Subject to the terms and conditions hereof, whenever the Company proposes to register any of its equity securities under
the Securities Act (other than a registration by the Company (x) on a registration statement on Form S-4 or (y) on a
registration statement on Form S-8 (or, in any of the cases of (x) or (y), on any successor forms thereto)) (each, a “Piggyback
Registration”), whether for its own account or for the account of others, the Company shall give the Stockholders (excluding
Fortress Affiliate Stockholders which have not signed a joinder as contemplated by Section 2.1) prompt written notice thereof (but
not less than five days prior to the filing by the Company with the Commission of any registration statement with respect thereto).
Such notice (a “Piggyback Notice”) shall specify, at a minimum, the number of equity securities proposed to
be registered, the proposed date of filing of such registration statement with the Commission, the proposed means of distribution
and the proposed managing underwriter or underwriters (if any and if known). Upon the written request of any Person that on the
date of such Piggyback Notice is a Stockholder, given within five days after such Piggyback Notice is received by such Person (any
such Persons, a “Piggyback Seller”) (which written request shall specify the number of Registrable Securities
then presently intended to be disposed of by such Piggyback Seller), the Company, subject to the terms and conditions of this Agreement,
shall use its commercially reasonable efforts to cause all such Registrable Securities held by Piggyback Sellers with respect to
which the Company has received such written requests for inclusion to be included in such Piggyback Registration on the same terms
and conditions as the Company’s equity securities being sold in such Piggyback Registration.

 

(b)              
If, in connection with a Piggyback Registration, any managing underwriter (or, if such Piggyback Registration is not an
Underwritten Offering, a nationally recognized investment bank engaged in connection with such Demand Registration) advises the
Company in writing that, in its opinion, the inclusion of all the equity securities sought to be included in such Piggyback Registration
by (i) the Company, (ii) others who have sought to have equity securities of the Company registered in such Piggyback
Registration pursuant to rights to demand (other than pursuant to so-called “piggyback” or other incidental or participation
registration rights) such registration (such Persons being “Other Demanding Sellers”), (iii) the Piggyback
Sellers and (iv) any other proposed sellers of equity securities of the Company (such Persons being “Other Proposed
Sellers”), as the case may be, would adversely affect the marketability of the equity securities sought to be sold pursuant
thereto, then the Company shall include in the registration statement applicable to such Piggyback Registration only such equity
securities as the Company is so advised by such underwriter or investment bank can be sold without such an effect, as follows and
in the following order of priority:

 

(i)                
if the Piggyback Registration relates to an offering for the Company’s own account, then (A) first, such number of
equity securities to be sold by the Company as the Company, in its reasonable judgment and acting in good faith and in accordance
with sound financial practice, shall have determined, (B) second, Registrable Securities of Piggyback Sellers and securities sought
to be registered by Other Demanding Sellers (if any), pro rata on the basis of the number of shares of Common Stock held by such
Piggyback Sellers and Other Demanding Sellers and (C) third, other equity securities held by any Other Proposed Sellers; or

    	11

    	 

    

 

(ii)              
if the Piggyback Registration relates to an offering other than for the Company’s own account, then (A) first, such
number of equity securities sought to be registered by each Other Demanding Seller and the Piggyback Sellers (if any), pro rata
in proportion to the number of shares of Common Stock held by all such Other Demanding Sellers and Piggyback Sellers and (B) second,
other equity securities held by any Other Proposed Sellers or to be sold by the Company as determined by the Company and with such
priorities among them as may from time to time be determined or agreed to by the Company.

 

(c)               
In connection with any Underwritten Offering under this Section 4.2 for the Company’s account, the Company shall not
be required to include a holder’s Registrable Securities in the Underwritten Offering unless such holder accepts the terms
of the underwriting as agreed upon between the Company and the underwriters selected by the Company; provided, that any applicable
underwriting agreement includes only customary terms and conditions.

 

(d)              
If, at any time after giving written notice of its intention to register any of its equity securities as set forth in this
Section 4.2 and prior to the time the registration statement filed in connection with such Piggyback Registration is declared effective,
the Company shall determine for any reason not to register such equity securities, the Company may, at its election, give written
notice of such determination to each Stockholder and thereupon shall be relieved of its obligation to register any Registrable
Securities in connection with such particular withdrawn or abandoned Piggyback Registration (but not from its obligation to pay
the Registration Expenses in connection therewith as provided herein); provided, that Stockholders may continue the registration
as a Demand Registration pursuant to the terms of Section 4.1.

 

Section
4.3            Shelf
Registration.

 

(a)               
Subject to Section 4.3(e), and further subject to the availability of a Registration Statement on Form S-3 or a successor
form, which may be an automatically effective registration statement at any time the Company is eligible (“Form S-3”)
to the Company, the Initial Stockholders or any of their Permitted Transferees (in each case to the extent a Stockholder hereunder)
may by written notice delivered (which notice can be delivered at any time after the eleven month anniversary of the date hereof)
to the Company (the “Shelf Notice”) require the Company to (i) file as promptly as practicable (but no
later than 30 days after the date the Shelf Notice is delivered), and to use commercially reasonable efforts to cause to be
declared effective by the Commission at the earliest possible date permitted under the rules and regulations of the Commission
(but no later than 60 days after such filing date), a Form S-3, or (ii) use an existing Form S-3 filed with the Commission,
in each case providing for an offering to be made on a continuous basis pursuant to Rule 415 under the Securities Act relating
to the offer and sale, from time to time, of the Registrable Securities owned by the Initial Stockholders or the Fortress Affiliate
Stockholders (or any of their Permitted Transferees), as the case may be, and any other Persons that at the time of the Shelf Notice
meet the definition of a Stockholder who elect to participate therein as provided in Section 4.3(b) (a “Shelf Registration
Statement”).

 

(b)              
The Initial Stockholders and their Permitted Transferees shall be entitled to require the Company to file an unlimited number
of Shelf Registration Statements until such time as the Stockholders, together, Beneficially Own less than a Registrable Amount.

 

(c)               
Within five business days after receipt of a Shelf Notice pursuant to Section 4.3(a), the Company will deliver written notice
thereof to each Stockholder (excluding Fortress Affiliate Stockholders which have not signed a joinder as contemplated by Section
2.1). Each Stockholder may elect to participate in the Shelf Registration Statement by delivering to the Company a written request
to so participate.

 

(d)              
Subject to Section 4.3(e), the Company will use commercially reasonable efforts to keep the Shelf Registration Statement
continuously effective until the date on which all Registrable Securities covered by the Shelf Registration Statement have been
sold thereunder in accordance with the plan and method of distribution disclosed in the prospectus included in the Shelf Registration
Statement, or otherwise (the “Shelf Registration Effectiveness Period”).

    	12

    	 

    

 

(e)               
Notwithstanding anything to the contrary contained in this Agreement, the Company shall be entitled, from time to time,
by providing notice to the Stockholders who elected to participate in the Shelf Registration Statement, to require such Stockholders
to suspend the use of the prospectus for sales of Registrable Securities under the Shelf Registration Statement for a reasonable
period of time not to exceed 60 days in succession or 90 days in the aggregate in any 12 month period (a “Suspension
Period”) if the Board determines in good faith and in its reasonable judgment that it is required to disclose in the
Shelf Registration Statement material, non-public information that the Company has a bona fide business purpose for preserving
as confidential. Immediately upon receipt of such notice, the Stockholders covered by the Shelf Registration Statement shall suspend
the use of the prospectus until the requisite changes to the prospectus have been made as required below. Any Suspension Period
shall terminate at such time as the public disclosure of such information is made. After the expiration of any Suspension Period
and without any further request from a Stockholder, the Company shall as promptly as practicable prepare a post-effective amendment
or supplement to the Shelf Registration Statement or the prospectus, or any document incorporated therein by reference, or file
any other required document so that, as thereafter delivered to purchasers of the Registrable Securities included therein, the
prospectus will not include an untrue statement of a material fact or omit to state any material fact necessary to make the statements
therein, in the light of the circumstances under which they were made, not misleading.

 

(f)               
At any time, and from time-to-time, during the Shelf Registration Effectiveness Period (except during a Suspension Period),
each of the Initial Stockholders, the Fortress Affiliate Stockholders or any of their Permitted Transferees (in each case to the
extent a Stockholder hereunder) may notify the Company of their intent to sell Registrable Securities covered by the Shelf Registration
Statement (in whole or in part) in an Underwritten Offering (a “Shelf Underwritten Offering”); provided that
the Company shall not be obligated to participate in more than four underwritten offerings during any twelve-month period. Such
notice shall specify (x) the aggregate number of Registrable Securities requested to be registered in such Shelf Underwritten
Offering and (y) the identity of the Stockholder(s) requesting such Shelf Underwritten Offering. Upon receipt by the Company
of such notice, the Company shall promptly comply with the applicable provisions of this Agreement, including those provisions
of Section 4.5 relating the Company’s obligation to make filings with the Commission, assist in the preparation and
filing with the Commission of prospectus supplements and amendments to the Shelf Registration Statement, participate in “road
shows,” agree to customary “lock-up” agreements with respect to the Company’s securities and obtain “comfort”
letters, and the Company shall take such other actions as necessary or appropriate to permit the consummation of such Shelf Underwritten
Offering as promptly as practicable. Each Shelf Underwritten Offering shall be for the sale of a number of Registrable Securities
equal to or greater than the Registrable Amount. In any Shelf Underwritten Offering, the Company shall select the investment bank(s)
and managers that will serve as lead or co-managing underwriters with respect to the offering of such Registrable Securities, which
shall be reasonably acceptable to the Stockholders participating in such Shelf Underwritten Offering that hold a majority of the
Registrable Securities included in such Shelf Underwritten Offering.

    	13

    	 

    

 

Section
4.4            Withdrawal
Rights. Any Stockholder having notified or directed the Company to include any or all of its Registrable Securities in a registration
statement under the Securities Act shall have the right to withdraw any such notice or direction with respect to any or all of
the Registrable Securities designated by it for registration by giving written notice to such effect to the Company prior to the
effective date of such registration statement. In the event of any such withdrawal, the Company shall not include such Registrable
Securities in the applicable registration and such Registrable Securities shall continue to be Registrable Securities for all purposes
of this Agreement. No such withdrawal shall affect the obligations of the Company with respect to the Registrable Securities not
so withdrawn; provided, however, that in the case of a Demand Registration, if such withdrawal shall reduce the number of Registrable
Securities sought to be included in such registration below the Registrable Amount, then the Company shall as promptly as practicable
give each holder of Registrable Securities sought to be registered notice to such effect and, within ten days following the mailing
of such notice, such holder(s) of Registrable Securities still seeking registration shall, by written notice to the Company, elect
to register additional Registrable Securities, when taken together with elections to register Registrable Securities by its Permitted
Transferees, to satisfy the Registrable Amount or elect that such registration statement not be filed or, if theretofore filed,
be withdrawn. During such ten day period, the Company shall not file such registration statement if not theretofore filed or, if
such registration statement has been theretofore filed, the Company shall not seek, and shall use commercially reasonable efforts
to prevent, the effectiveness thereof.

 

Section
4.5            Registration
Procedures.

 

(a)               
If and whenever the Company is required to use commercially reasonable efforts to effect the registration of any Registrable
Securities under the Securities Act as provided in Sections 4.1, 4.2 and 4.3, the Company shall as promptly as practicable (in
each case, to the extent applicable):

 

(i)                
prepare and file with the Commission a registration statement to effect such registration, cause such registration statement
to become effective at the earliest possible date permitted under the rules and regulations of the Commission, and thereafter use
commercially reasonable efforts to cause such registration statement to remain effective pursuant to the terms of this Agreement;
provided, however, that the Company may discontinue any registration of its securities which are not Registrable Securities at
any time prior to the effective date of the registration statement relating thereto; provided, further that before filing such
registration statement or any amendments thereto, the Company will furnish to the counsel selected by the holders of Registrable
Securities which are to be included in such registration (“Selling Holders”) copies of all such documents proposed
to be filed, which documents will be subject to the review of and comment by such counsel (it being understood that counsel to
the Selling Holders will conduct its review and provide any comments promptly);

 

(ii)              
prepare and file with the Commission such amendments (including post-effective amendments) and supplements to such registration
statement and the prospectus used in connection therewith and any Exchange Act reports incorporated by reference therein as may
be necessary to keep such registration statement effective and to comply with the provisions of the Securities Act with respect
to the disposition of all securities covered by such registration statement until the earlier of such time as all of such securities
have been disposed of in accordance with the intended methods of disposition by the Selling Holder(s) set forth in such registration
statement or (i) in the case of a Demand Registration pursuant to Section 4.1, the expiration of 60 days after such registration
statement becomes effective or (ii) in the case of a Piggyback Registration pursuant to Section 4.2, the expiration of 60 days
after such registration statement becomes effective or (iii) in the case of a Shelf Registration pursuant to Section 4.3, the Shelf
Registration Effectiveness Period;

    	14

    	 

    

 

(iii)            
furnish to each Selling Holder and each underwriter, if any, of the securities being sold by such Selling Holder such number
of conformed copies of such registration statement and of each amendment and supplement thereto (in each case including all exhibits),
such number of copies of the prospectus contained in such registration statement (including each preliminary prospectus and any
summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act, in conformity with the requirements
of the Securities Act, and any Issuer Free Writing Prospectus and such other documents as such Selling Holder and underwriter,
if any, may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned
by such Selling Holder;

 

(iv)            
use commercially reasonable efforts to register or qualify such Registrable Securities covered by such registration statement
under such other securities laws or blue sky laws of such jurisdictions as any Selling Holder and any underwriter of the securities
being sold by such Selling Holder shall reasonably request, and take any other action which may be reasonably necessary or advisable
to enable such Selling Holder and underwriter to consummate the disposition in such jurisdictions of the Registrable Securities
owned by such Selling Holder, except that the Company shall not for any such purpose be required to qualify generally to do business
as a foreign corporation in any jurisdiction wherein it would not but for the requirements of this clause (iv) be obligated to
be so qualified, to subject itself to taxation in any such jurisdiction or to file a general consent to service of process in any
such jurisdiction;

 

(v)              
use best efforts to cause such Registrable Securities to be listed on each securities exchange on which similar securities
issued by the Company are then listed and, if no such securities are so listed, use commercially reasonable efforts to cause such
Registrable Securities to be listed on the NYSE or the Nasdaq Stock Market;

 

(vi)            
use commercially reasonable efforts to cause such Registrable Securities covered by such registration statement to be registered
with or approved by such other governmental agencies or authorities as may be necessary to enable the Selling Holder(s) thereof
to consummate the disposition of such Registrable Securities;

 

(vii)          
in connection with an Underwritten Offering, obtain for each Selling Holder and underwriter:

 

(1)              
an opinion of counsel for the Company, covering the matters customarily covered in opinions requested in underwritten offerings
and such other matters as may be reasonably requested by such Selling Holder and underwriters, and

 

(2)              
a “comfort” letter (or, in the case of any such Person which does not satisfy the conditions for receipt of
a “comfort” letter specified in AU Section 634 of the AICPA Professional Standards, an “agreed upon procedures”
letter) signed by the independent registered public accountants who have certified the Company’s financial statements included
in such registration statement (and, if necessary, any other independent registered public accountant of any Subsidiary of the
Company or any business acquired by the Company from which financial statements and financial data are, or are required to be,
included in the registration statement);

    	15

    	 

    

 

(viii)        
promptly make available for inspection by any Selling Holder, any underwriter participating in any disposition pursuant
to any registration statement, and any attorney, accountant or other agent or representative retained by any such Selling Holder
or underwriter (collectively, the “Inspectors”), all financial and other records, pertinent corporate documents
and properties of the Company (collectively, the “Records”), as shall be reasonably necessary to enable such
Selling Holder or underwriter to exercise their due diligence responsibility, and cause the Company’s officers, directors
and employees to supply all information requested by any such Inspector in connection with such registration statement promptly;
provided, however, that, unless the disclosure of such Records is necessary to avoid or correct a misstatement or omission in the
registration statement or the release of such Records is ordered pursuant to a subpoena or other order from a court of competent
jurisdiction, the Company shall not be required to provide any information under this subparagraph (viii) if (i) the Company believes,
after consultation with counsel for the Company, that to do so would cause the Company to forfeit an attorney-client privilege
that was applicable to such information or (ii) if either (A) the Company has requested and been granted from the Commission confidential
treatment of such information contained in any filing with the Commission or documents provided supplementally or otherwise or
(B) the Company reasonably determines in good faith that such Records are confidential and so notifies the Inspectors in writing
unless prior to furnishing any such information with respect to (i) or (ii) such holder of Registrable Securities requesting such
information agrees, and causes each of its Inspectors, to enter into a confidentiality agreement on terms reasonably acceptable
to the Company; and provided, further, that each Holder of Registrable Securities agrees 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 and to prevent disclosure of the Records deemed confidential;

 

(ix)            
promptly notify in writing each Selling Holder and the underwriters, if any, of the following events:

 

(1)              
the filing of the registration statement, the prospectus or any prospectus supplement related thereto, any Issuer Free Writing
Prospectus or post-effective amendment to the registration statement, and, with respect to the registration statement or any post-effective
amendment thereto, when the same has become effective;

 

(2)              
any request by the Commission for amendments or supplements to the registration statement or the prospectus or for additional
information;

 

(3)              
the issuance by the Commission of any stop order suspending the effectiveness of the registration statement or the initiation
of any proceedings by any Person for that purpose;

 

(4)              
when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the registration
statement; and

 

(5)              
the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities
for sale under the securities or blue sky laws of any jurisdiction or the initiation or threat of any proceeding for such purpose;

 

(x)              
notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered under the Securities
Act, upon discovery that, or upon the happening of any event as a result of which, the prospectus included in such registration
statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be
stated therein or necessary to make the statements therein not misleading, and, at the request of any Selling Holder, promptly
prepare and furnish to such Selling Holder a reasonable number of copies of a supplement to or an amendment of such prospectus
as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such prospectus shall not
include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make
the statements therein not misleading;

    	16

    	 

    

 

(xi)            
use every reasonable best effort to obtain the withdrawal of any order suspending the effectiveness of such registration
statement;

 

(xii)          
otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission, and
make available to Selling Holders, as promptly as practicable, an earnings statement covering the period of at least 12 months,
but not more than 18 months, beginning with the first day of the Company’s first full quarter after the effective date of
such registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule
158 thereunder;

 

(xiii)        
use its reasonable best efforts to assist Stockholders who made a request to the Company to provide for a third party “market
maker” for the Common Stock; provided, however, that the Company shall not be required to serve as such “market maker;”

 

(xiv)        
cooperate with any Selling Holder and any underwriter and the managing underwriter to facilitate the timely preparation
and delivery of certificates (which shall not bear any restrictive legends unless required under applicable law), if necessary
or appropriate, representing securities sold under any registration statement, and enable such securities to be in such denominations
and registered in such names as the managing underwriter or such Selling Holder may request and keep available and make available
to the Company’s transfer agent prior to the effectiveness of such registration statement a supply of such certificates as
necessary or appropriate;

 

(xv)          
have appropriate officers of the Company prepare and make presentations at any “road shows” and before analysts
and rating agencies, as the case may be, take other actions to obtain ratings for any Registrable Securities (if they are eligible
to be rated) and otherwise use its reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the
underwriters in the offering, marketing or selling of the Registrable Securities;

 

(xvi)        
have appropriate officers of the Company, and cause representatives of the Company’s independent registered public
accountants, to participate in any due diligence discussions reasonably requested by any Selling Holder or any underwriter;

 

(xvii)      
if requested by any underwriter, agree, and cause the Company and any directors or officers of the Company to agree, to
be bound by customary “lock-up” agreements restricting the ability to dispose of Company securities;

 

(xviii)    
if requested by any Selling Holders or any underwriter, promptly incorporate in the registration statement or any prospectus,
pursuant to a supplement or post-effective amendment if necessary, such information as such Selling Holders may reasonably request
to have included therein, including information relating to the “Plan of Distribution” of the Registrable Securities;

 

(xix)        
cooperate and assist in any filings required to be made with the FINRA and in the performance of any due diligence investigation
by any underwriter that is required to be undertaken in accordance with the rules and regulations of the FINRA;

 

(xx)          
otherwise use reasonable best efforts to cooperate as reasonably requested by the Selling Holders and the underwriters in
the offering, marketing or selling of the Registrable Securities;

 

(xxi)        
otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission and
all reporting requirements under the rules and regulations of the Exchange Act; and

 

(xxii)      
use reasonable best efforts to take any action requested by the Selling Holders, including any action described in clauses
(i) through (xxi) above to prepare for and facilitate any “over-night deal” or other proposed sale of Registrable
Securities over a limited timeframe.

    	17

    	 

    

 

The Company may require each Selling Holder and each underwriter,
if any, to furnish the Company in writing such information regarding each Selling Holder or underwriter and the distribution of
such Registrable Securities as the Company may from time to time reasonably request to complete or amend the information required
by such registration statement.

 

(b)              
Without limiting any of the foregoing, in the event that the offering of Registrable Securities is to be made by or through
an underwriter, the Company shall enter into an underwriting agreement with a managing underwriter or underwriters containing representations,
warranties, indemnities and agreements customarily included (but not inconsistent with the covenants and agreements of the Company
contained herein) by an issuer of common stock in underwriting agreements with respect to offerings of common stock for the account
of, or on behalf of, such issuers. In connection with any offering of Registrable Securities registered pursuant to this Agreement,
the Company shall furnish to the underwriter, if any (or, if no underwriter, the Selling Holder), unlegended certificates representing
ownership of the Registrable Securities being sold (unless, in the Company’s sole discretion, such Registrable Securities
are to be issued in uncertificated form pursuant to the customary arrangements for issuing shares in such form), in such denominations
as requested and instruct any transfer agent and registrar of the Registrable Securities to release any stop transfer order with
respect thereto.

 

(c)               
Each Selling Holder agrees that upon receipt of any notice from the Company of the happening of any event of the kind described
in Section 4.5(a)(ix), such Selling Holder shall forthwith discontinue such Selling Holder’s disposition of Registrable Securities
pursuant to the applicable registration statement and prospectus relating thereto until such Selling Holder’s receipt of
the copies of the supplemented or amended prospectus contemplated by Section 4.5(a)(ix) and, if so directed by the Company, deliver
to the Company, at the Company’s expense, all copies, other than permanent file copies, then in such Selling Holder’s
possession of the prospectus current at the time of receipt of such notice relating to such Registrable Securities. In the event
the Company shall give such notice, any applicable 60 day period during which such registration statement must remain effective
pursuant to this Agreement shall be extended by the number of days during the period from the date of giving of a notice regarding
the happening of an event of the kind described in Section 4.5(a)(ix) to the date when all such Selling Holders shall receive such
a supplemented or amended prospectus and such prospectus shall have been filed with the Commission.

 

Section
4.6            Registration
Expenses.

 

(a)               
All expenses incident to the Company’s performance of, or compliance with, its obligations under this Agreement including
(i)(A) all registration and filing fees, all fees and expenses of compliance with securities and “blue sky” laws,
(B) all fees and expenses associated with filings required to be made with FINRA (including, if applicable, the fees and expenses
of any “qualified independent underwriter” as such term is defined in FINRA Rule 5121 or the equivalent rule incorporated
into the FINRA rulebook), (C) all fees and expenses of compliance with securities and “blue sky” laws, (D) all
printing (including expenses of printing certificates, if any, for the Registrable Securities in a form eligible for deposit with
the Depository Trust Company and of printing prospectuses if the printing of prospectuses and Issuer Free Writing Prospectuses
is requested by a holder of Registrable Securities) and copying expenses, (E) all messenger and delivery expenses, (F) all
fees and expenses of the Company’s independent certified public accountants and counsel (including with respect to “comfort”
letters, “agreed-upon procedures” letter and opinions), (G) fees and expenses of one counsel to the Stockholders
selling in such registration (which firm shall be selected by the Stockholders selling in such registration that hold a majority
of the Registrable Securities included in such registration), (H) except as provided in clause (ii) below, the fees and expenses
(including underwriting discounts and commissions and transfer taxes) of every nationally recognized investment bank engaged in
connection with a Demand Registration or a Piggyback Registration that is not an Underwritten Offering, (collectively, the “Registration
Expenses”) and (ii) any expenses described in clauses (i)(A) through (H) above incurred in connection with the marketing
and sale of Registrable Securities (“Offering Expenses”) shall be borne by the Company, regardless of whether
a registration is effected, marketing is commenced or sale is made. The Company will pay its internal expenses (including all salaries
and expenses of its officers and employees performing legal or accounting duties, the expense of any annual audit and the expense
of any liability insurance) and the expenses and fees for listing the securities to be registered on each securities exchange and
included in each established over-the-counter market on which similar securities issued by the Company are then listed or traded.

    	18

    	 

    

 

(b)              
Each Selling Holder shall pay its portion of all underwriting discounts and commissions and transfer taxes, if any, relating
to the sale of such Selling Holder’s Registrable Securities pursuant to any registration.

 

ARTICLE
V

INDEMNIFICATION

 

Section
5.1            General
Indemnification. The Company agrees to indemnify and hold harmless the Initial Stockholders and each of the officers, directors,
employees, members, managers, partners and agents or Affiliates of the Initial Stockholders against any and all losses, claims,
damages, liabilities and expenses (including reasonable expenses of investigation and reasonable attorneys’ fees and expenses)
(collectively, the “Losses”), in each case, based on, arising out of, resulting from or in connection with any
claim, action, cause of action, suit, proceeding or investigation, whether civil, criminal, administrative, investigative or other
(collectively, “Actions”), based on, arising out of, pertaining to or in connection with (i) the ownership or
the operation of the assets or properties, and the operation or conduct of the business of, including contracts entered into by,
the Company, whether before, on or after the date hereof (ii) any other activity that the Company or its Subsidiaries engages in
and (iii) any untrue statement or alleged untrue statement of a material fact contained in any Filing or any omission or alleged
omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading,
other than misstatements or omissions made in reliance on information relating to and furnished by the Initial Stockholders in
writing expressly for use in the preparation of such Filing. The indemnity agreement contained in this Section 5.1 shall be applicable
whether or not any Action or the facts or transactions giving rise to such Action arose prior to, on or subsequent to the date
of this Agreement.

 

Section
5.2            Registration
Statement Indemnification.

 

(a)               
The Company agrees to indemnify and hold harmless, to the fullest extent permitted by law, each Selling Holder, its officers,
directors, employees, managers, members, partners and Affiliates, such Selling Holder or such other indemnified Person from and
against all Losses caused by, resulting from or relating to any untrue statement (or alleged untrue statement) of a material fact
contained in any registration statement, any Issuer Free Writing Prospectus, any prospectus or preliminary prospectus or any amendment
thereof or supplement thereto or any omission (or alleged omission) of a material fact required to be stated therein or necessary
to make the statements therein, in light of the circumstances under which they were made, not misleading, except insofar as the
same are caused by any information furnished in writing to the Company by such Selling Holder expressly for use therein. In connection
with an Underwritten Offering and without limiting any of the Company’s other obligations under this Agreement, the Company
shall also indemnify such underwriters, their officers, directors, employees and agents and each Person who controls (within the
meaning of Section 15 of the Securities Act and Section 20 of the Exchange Act) such underwriters or such other indemnified Person
to the same extent as provided above with respect to the indemnification (and exceptions thereto) of the holders of Registrable
Securities being sold. Reimbursements payable pursuant to the indemnification contemplated by this Section 5.2(a) will be made
by periodic payments during the course of any investigation or defense, as and when bills are received or expenses incurred.

    	19

    	 

    

 

(b)              
In connection with any registration statement in which a holder of Registrable Securities is participating, each such Selling
Holder will furnish to the Company in writing information regarding such Selling Holder’s ownership of Registrable Securities
and its intended method of distribution thereof and, to the extent permitted by law, shall, severally and not jointly, indemnify
the Company, its directors, officers, employees and agents and each Person who controls (within the meaning of Section 15 of the
Securities Act and Section 20 of the Exchange Act) the Company or such other indemnified Person against all Losses caused by any
untrue statement of material fact contained in the registration statement, any Issuer Free Writing Prospectus, any prospectus or
preliminary prospectus or any amendment thereof or supplement thereto or any omission of a material fact required to be stated
therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading,
but only to the extent that such untrue statement or omission is caused by and contained in such information so furnished in writing
by such Selling Holder expressly for use therein; provided, however, that each Selling Holder’s obligation to indemnify the
Company hereunder shall, to the extent more than one Selling Holder is subject to the same indemnification obligation, be apportioned
between each Selling Holder based upon the net amount received by each Selling Holder from the sale of Registrable Securities,
as compared to the total net amount received by all of the Selling Holders of Registrable Securities sold pursuant to such registration
statement. Notwithstanding the foregoing, no Selling Holder shall be liable to the Company for amounts in excess of the lesser
of (i) such apportionment and (ii) the net amount received by such holder in the offering giving rise to such liability.

 

Section
5.3            Contribution.

 

(a)               
If recovery is not available under the foregoing indemnification provisions for any reason or reasons other than as specified
therein, any Person who would otherwise be entitled to indemnification by the terms thereof shall nevertheless be entitled to contribution
with respect to any Losses with respect to which such Person would be entitled to such indemnification but for such reason or reasons.
In determining the amount of contribution to which the respective Persons are entitled, there shall be considered the Persons’
relative knowledge and access to information concerning the matter with respect to which the claim was asserted, the opportunity
to correct and prevent any statement or omission, and other equitable considerations appropriate under the circumstances. It is
hereby agreed that it would not necessarily be equitable if the amount of such contribution were determined by pro rata or per
capita allocation. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act)
shall be entitled to contribution from any Person who was not found guilty of such fraudulent misrepresentation. Notwithstanding
the foregoing, no Selling Holder or transferee thereof shall be required to make a contribution in excess of the net amount received
by such holder from its sale of Registrable Securities in connection with the offering that gave rise to the contribution obligation.

 

Section
5.4            Procedure.

 

(a)               
Any Person entitled to indemnification hereunder shall give prompt written notice to the indemnifying party of any claim
with respect to which it seeks indemnification; provided, however, the failure to give such notice shall not release the indemnifying
party from its obligation, except to the extent that the indemnifying party has been materially prejudiced by such failure to provide
such notice on a timely basis.

    	20

    	 

    

 

(b)              
In any case in which any such action is brought against any indemnified party, and it notifies an indemnifying party of
the commencement thereof, the indemnifying party will be entitled to participate therein, and, to the extent that it may wish,
jointly with any other indemnifying party similarly notified, to assume the defense thereof, with counsel reasonably satisfactory
to such indemnified party, and after notice from the indemnifying party to such indemnified party of its election so to assume
the defense thereof, the indemnifying party will not (so long as it shall continue to have the right to defend, contest, litigate
and settle the matter in question in accordance with this paragraph) be liable to such indemnified party hereunder for any legal
or other expense subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable costs
of investigation, supervision and monitoring (unless (i) such indemnified party reasonably objects to such assumption on the grounds
that there may be defenses available to it which are different from or in addition to the defenses available to such indemnifying
party or (ii) the indemnifying party shall have failed within a reasonable period of time to assume such defense and the indemnified
party is or is reasonably likely to be prejudiced by such delay, in either event the indemnified party shall be promptly reimbursed
by the indemnifying party for the expenses incurred in connection with retaining separate legal counsel).The indemnifying party
shall lose its right to defend, contest, litigate and settle a matter if it shall fail to diligently contest such matter (except
to the extent settled in accordance with the next following sentence).

 

Section
5.5            Other
Matters.

 

(a)               
An indemnifying party shall not be liable for any settlement of an Action effected without its consent. No indemnifying
party shall, without the prior written consent of the indemnified party, effect any settlement of any pending or threatened Action
in respect of which any indemnified party is or could have been a party and indemnity could have been sought hereunder by such
indemnified party, unless such settlement includes an unconditional release of such indemnified party from all liability on claims
that are the subject matter of such Action.

 

(b)              
Any Losses for which an indemnified party is entitled to indemnification or contribution under this Article V shall be paid
by the indemnifying party to the indemnified party as such Losses are incurred. The indemnity and contribution agreements contained
in this Article V shall remain operative and in full force and effect, regardless of (i) any investigation made by or on behalf
of any Indemnitee, the Company, its directors or officers, or any person controlling the Company, and (ii) any termination of this
Agreement.

 

(c)               
The parties hereto shall, and shall cause their respective Subsidiaries to, cooperate with each other in a reasonable manner
with respect to access to unprivileged information and similar matters in connection with any Action. The provisions of this Article
V are for the benefit of, and are intended to create third party beneficiary rights in favor of, each of the indemnified parties
referred to herein.

 

(d)              
Not less than three days before the expected filing date of each registration statement pursuant to this Agreement, the
Company shall notify each Stockholder who has timely provided the requisite notice hereunder entitling the Stockholder to register
Registrable Securities in such registration statement of the information, documents and instruments from such Stockholder that
the Company or any underwriter reasonably requests in connection with such registration statement, including, but not limited to
a questionnaire, custody agreement, power of attorney, lock-up letter and underwriting agreement (the “Requested Information”).
If the Company has not received, on or before the day before the expected filing date, the Requested Information from such Stockholder,
the Company may file the Registration Statement without including Registrable Securities of such Stockholder. The failure to so
include in any registration statement the Registrable Securities of a Stockholder (with regard to that registration statement)
shall not in and of itself result in any liability on the part of the Company to such Stockholder.

    	21

    	 

    

 

ARTICLE
VI 

 

SERVICES

 

Section
6.1            Tax
Services. For a period of up to twelve months following the date of this
Agreement, the Company agrees to continue to provide to the Initial Stockholders and their Affiliates tax, accounting,
recordkeeping services (the “Services”) in a manner consistent with past practice prior to the
date of this Agreement. The Initial Stockholders shall reimburse the Company on a quarterly basis for all Third-Party Costs.
For purposes of this section, “Third-Party Costs” means all payments by the Company or any of its subsidiaries to
third parties reasonably attributable to the provision of the Services. The Initial Stockholders may terminate the Services
(and the obligation to reimburse the Company for Third-Party Costs) upon not less than 30 days written notice to the
Company.

 

ARTICLE
VII

MISCELLANEOUS

 

Section
7.1            Headings.
The headings in this Agreement are for convenience of reference only and shall not control or effect the meaning or construction
of any provisions hereof.

 

Section
7.2            Entire
Agreement.(a)This Agreement constitutes the entire agreement and understanding of the parties hereto in respect of
the subject matter contained herein, and there are no restrictions, promises, representations, warranties, covenants, conditions
or undertakings with respect to the subject matter hereof, other than those expressly set forth or referred to herein. This Agreement
supersedes all prior agreements and understandings between the parties hereto with respect to the subject matter hereof.

 

Section
7.3            Further
Actions; Cooperation. Each of the Stockholders agrees to use its reasonable efforts to take, or cause to be taken, all actions
and to do, or cause to be done, and to assist and cooperate with the other parties in doing, all things necessary, proper or advisable
to give effect to the transactions contemplated by this Agreement. Without limiting the generality of the foregoing, each of the
Stockholders (i) acknowledges that such Stockholder will prepare and file with the Commission filings under the Exchange Act, including
under Section 13(d) of the Exchange Act, relating to its Beneficial Ownership of the Common Stock and (ii) agrees to use its reasonable
efforts to assist and cooperate with the other parties in promptly preparing, reviewing and executing any such filings under the
Exchange Act, including any amendments thereto.

 

Section
7.4            Notices.
All notices, requests, consents and other communications hereunder to any party shall be deemed to be sufficient if contained in
a written instrument delivered in person or sent by facsimile, nationally recognized overnight courier or first class registered
or certified mail, return receipt requested, postage prepaid, addressed to such party at the address set forth below or such other
address as may hereafter be designated on the signature pages of this Agreement or in writing by such party to the other parties:

 

    	22

    	 

    

If to the Initial Stockholders, to:

 

Intrawest Europe Holdings S.à r.l.

c/o Fortress Investment Group LLC

1345 Avenue of the Americas, 46th Floor

New York, NY 10105

Fax: (212) 798-6122

Email: rnardone@fortress.com

Attn: Randal A. Nardone

 

with a copy (which shall not constitute notice) to:

 

Skadden, Arps, Slate, Meagher & Flom LLP

4 Times Square

New York, NY 10036-6522

Fax: (212) 735-2000

Email: gregory.fernicola@skadden.com

Attn: Gregory A. Fernicola, Esq.

 

If to the Company, to:

 

Intrawest Resorts Holdings, Inc.

1621 18th Street, Suite 300

Denver, Colorado 80202

Email: JGoldstein@intrawest.com

Attn: Joshua B. Goldstein, Esq.

 

If to a Stockholder that is not one of the
Initial Stockholders, then to the address set forth in the written agreement of such Stockholder provided for in Section 2.1 hereof.

 

    	23

    	 

    

All such notices, requests, consents and other
communications shall be deemed to have been given or made if and when received (including by overnight courier) by the parties
at the above addresses or sent by email, facsimile, with confirmation received, to the email addresses or facsimile numbers specified
above (or at such other address or facsimile number for a party as shall be specified by like notice). Any notice delivered by
any party hereto to any other party hereto shall also be delivered to each other party hereto simultaneously with delivery to the
first party receiving such notice.

 

Section
7.5            Applicable
Law. The substantive laws of the State of New York shall govern the interpretation, validity and performance of the terms of
this Agreement, without regard to conflicts of law doctrines.

 

Section
7.6            Severability.
The provisions of this Agreement are independent of and separable from each other. The invalidity, illegality or unenforceability
of one or more of the provisions of this Agreement in any jurisdiction shall not affect the validity, legality or enforceability
of the remainder of this Agreement, including any such provisions, in any other jurisdiction, it being intended that all rights
and obligations of the parties hereunder shall be enforceable to the fullest extent permitted by law. The parties hereto shall
endeavor in good faith negotiations to replace any invalid, illegal or unenforceable provisions with valid provisions the economic
effect of which comes as close as possible to that of the invalid, illegal or unenforceable provision, as applicable.

 

Section
7.7            Successors
and Assigns. Except as otherwise provided herein, all the terms and provisions of this Agreement shall be binding upon, shall
inure to the benefit of and shall be enforceable by the respective successors and permitted assigns of the parties hereto. No Stockholder
may assign any of its rights hereunder to any Person other than a Permitted Transferee. Each Permitted Transferee of any Stockholder
shall be subject to all of the terms of this Agreement, and by taking and holding such shares such Person shall be entitled to
receive the benefits of and be conclusively deemed to have agreed to be bound by and to comply with all of the terms and provisions
of this Agreement; provided, however, no transfer of rights permitted hereunder shall be binding upon or obligate the Company unless
and until (i) if required under Section 2.1 hereof, the Company shall have received written notice of such transfer and
the joinder of the transferee provided for in Section 2.1 hereof, and (ii) such transferee can establish Beneficial Ownership
or ownership of record of a Registrable Amount (whether individually or together with its Affiliates that are Stockholders or transferees
of Stockholders and, if applicable, its other Permitted Transferees that are Stockholders or transferees of Stockholders). The
Company may not assign any of its rights or obligations hereunder without the prior written consent of each of the Stockholders,
and any assignment attempted or effected without obtaining such required consent shall be null and void. Notwithstanding the foregoing,
no successor or assignee of the Company shall have any rights granted under this Agreement until such Person shall acknowledge
its rights and obligations hereunder by a signed written statement of such Person’s acceptance of such rights and obligations.

 

Section
7.8            Amendments.
This Agreement may not be amended, modified or supplemented unless such amendment, modification or supplement is in writing and
signed by each of the Stockholders and the Company.

 

    	24

    	 

    

Section
7.9            Waiver.
The failure of a party hereto at any time or times to require performance of any provision hereof shall in no manner affect its
right at a later time to enforce the same. No waiver by a party of any condition or of any breach of any term, covenant, representation
or warranty contained in this Agreement shall be effective unless in a writing signed by the party against whom the waiver is to
be effective, and no waiver in any one or more instances shall be deemed to be a further or continuing waiver of any such condition
or breach in other instances or a waiver of any other condition or breach of any other term, covenant, representation or warranty.

 

Section
7.10        Counterparts.
This Agreement may be executed in two or more counterparts, each of which shall be deemed an original but all of which shall constitute
one and the same Agreement.

 

Section
7.11        Submission
To Jurisdiction. ANY LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS AGREEMENT AND ANY ACTION FOR ENFORCEMENT OF ANY JUDGMENT
IN RESPECT THEREOF MAY BE BROUGHT IN THE COURTS OF THE STATE OF NEW YORK LOCATED IN THE BOROUGH OF MANHATTAN OR OF THE UNITED STATES
OF AMERICA FOR THE SOUTHERN DISTRICT OF NEW YORK AND, BY EXECUTION AND DELIVERY OF THIS AGREEMENT, EACH PARTY HERETO HEREBY ACCEPTS
FOR ITSELF AND IN RESPECT OF ITS PROPERTY, GENERALLY AND UNCONDITIONALLY, THE NON-EXCLUSIVE JURISDICTION OF THE AFORESAID COURTS
AND THE APPELLATE COURTS THEREOF. EACH PARTY HERETO IRREVOCABLY CONSENTS TO THE SERVICE OF PROCESS OUT OF ANY OF THE AFOREMENTIONED
COURTS IN ANY SUCH ACTION OR PROCEEDING BY THE MAILING OF COPIES THEREOF BY REGISTERED OR CERTIFIED MAIL, POSTAGE PREPAID, TO SUCH
PARTY AT THE ADDRESS FOR NOTICES SET FORTH HEREIN. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES ANY OBJECTION WHICH IT MAY NOW OR
HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY OF THE AFORESAID ACTIONS OR PROCEEDINGS ARISING OUT OF OR IN CONNECTION WITH THIS
AGREEMENT BROUGHT IN THE COURTS REFERRED TO ABOVE AND HEREBY FURTHER IRREVOCABLY WAIVES AND AGREES NOT TO PLEAD OR CLAIM IN ANY
SUCH COURT THAT ANY SUCH ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. THE PARTIES
HERETO WAIVE THEIR RIGHT TO A JURY TRIAL WITH RESPECT TO DISPUTES HEREUNDER.

 

Section
7.12        Injunctive
Relief. Each party hereto acknowledges and agrees that a violation of any of the terms of this Agreement will cause the other
parties irreparable injury for which an adequate remedy at law is not available. Therefore, the Stockholders agree that each party
shall be entitled to, an injunction, restraining order, specific performance or other equitable relief from any court of competent
jurisdiction, restraining any party from committing any violations of the provisions of this Agreement, without the need to post
a bond or prove the inadequacy of monetary damages.

 

Section
7.13        Recapitalizations,
Exchanges, Etc. Affecting the Shares of Common Stock; New Issuance. The provisions of this Agreement shall apply, to the full
extent set forth herein, with respect to Company Securities and to any and all equity or debt securities of the Company or any
successor or assign of the Company (whether by merger, consolidation, sale of assets, or otherwise) which may be issued in respect
of, in exchange for, or in substitution of, such Company Securities and shall be appropriately adjusted for any stock dividends,
splits, reverse splits, combinations, reclassifications, recapitalizations, reorganizations and the like occurring after the date
hereof.

 

    	25

    	 

    

Section
7.14        Termination.
Upon the mutual consent of all of the parties hereto or, with respect to each Stockholder, at such earlier time as such Stockholder
and its Affiliates and Permitted Transferees ceases to Beneficially Own a Registrable Amount, the terms of this Agreement shall
terminate, and be of no further force and effect; provided, however, that the following shall survive the termination of this Agreement:
(i) the provisions of Sections 4.2 (which shall terminate, and be of no further force and effect, with respect to each Stockholder,
at such time as such Stockholder and its Affiliates and Permitted Transferees ceases to Beneficially Own a Registrable Amount),
4.6, Article 5, 7.5, 7.11, this Section 7.14 and Section 7.15; (ii) the rights with respect to the breach of any provision hereof
by the Company and (iii) any registration rights vested or obligations accrued as of the date of termination of this Agreement
to the extent, in the case of registration rights so vested, if such Stockholder ceases to meet the definition of a Stockholder
under this Agreement subsequent to the vesting of such registration rights as a result of action taken by the Company.

 

Section
7.15        Third Party
Beneficiary. FIG LLC shall be a third party beneficiary to the agreements made hereunder between the Company and the Initial
Stockholders and shall have the right to enforce such agreements directly to the extent it deems such enforcement necessary or
advisable to protect its rights hereunder.

 

Section
7.16        Rule 144.
The Company covenants and agrees that it will file the reports required to be filed by it under the Securities Act and the Exchange
Act and the rules and regulations adopted by the Commission thereunder (or, if it is not required to file such reports, it will,
upon the request of any holder of Registrable Securities, make publicly available other information so long as necessary to permit
sales in compliance with Rule 144 under the Securities Act), and it will take such further reasonable action, to the extent required
from time to time to enable such holder to sell Registrable Securities without registration under the Securities Act within the
limitation of the exemptions provided by Rule 144 under the Securities Act, as such Rule 144 may be amended from time to time,
or any similar rule or regulation hereafter adopted by the Commission. Upon the reasonable 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 information and
filing requirements.

 

Section
7.17        Information.
The Company covenants and agrees that for so long as the Stockholders, together, have Beneficial Ownership of at least 1% of the
Voting Power of the Company, it will provide or cause to be provided, upon request, to persons affiliated with FIG LLC who are
covered by applicable FIG LLC confidentiality policies, all information about the Company and its operations as the Company would
ordinarily provide to a director upon his or her request.

 

[Remainder of page left blank intentionally]

    	26

    	 

    

 

IN WITNESS WHEREOF, the parties have caused
this Agreement to be executed and delivered by their respective officers thereunto duly as of the date first above written.

 

	 	INTRAWEST RESORTS HOLDINGS, INC.
	 	 	 
	 	By:	 
	 		Name:
	 		Title:

 

	 	INTRAWEST EUROPE HOLDINGS
S.À R.L.
	 	 	 
	 	By:	 
	 		Name:
	 		Title:

 

	 	INTRAWEST S.À R.L.
	 	 	 
	 	By:	 
	 		Name:
	 		Title:

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