Document:

EX-10.4

 Exhibit 10.4 
 REGISTRATION RIGHTS AGREEMENT 
 This Registration Rights
Agreement (this “Agreement”) is made and entered into as of October 23, 2012, by and among Yadkin Valley Financial Corporation, a North Carolina corporation (the “Company”), and the several signatories
hereto (each a “Shareholder” and collectively, the “Shareholders”). 
 This Agreement
is made pursuant to the Share Exchange Agreement, dated as of the date hereof between the Company and each Shareholder or its parent (the “Exchange Agreement”). 

NOW, THEREFORE, IN CONSIDERATION of the mutual covenants contained in this Agreement, and for other good and valuable
consideration, the receipt and adequacy of which are hereby acknowledged, the Company and each of the Shareholders agree as follows: 
 1.            Definitions.  Capitalized terms used and not otherwise defined herein that are defined in the Exchange Agreement
shall have the meanings given such terms in the Exchange Agreement. As used in this Agreement, the following terms shall have the following meanings: 
 “Advice” shall have the meaning set forth in Section 6(d). 
 “Affiliate” means, with respect to any person, any other person which directly or indirectly controls, is controlled by, or is under common control with, such person. 

“Agreement” shall have the meaning set forth in the Preamble. 

“Allowable Grace Period” shall have the meaning set forth in Section 2(e). 

“Business Day” means a day, other than a Saturday or Sunday, on which banks in New York City are open
for the general transaction of business. 
 “Closing Date” has the meaning set forth in the
Exchange Agreement. 
 “Commission” means the Securities and Exchange Commission. 

“Common Stock” means the common stock of the Company, $1.00 par value, and any securities into which
such shares of common stock may hereinafter be reclassified. 
 “Company” shall have the
meaning set forth in the Preamble. 
 “Effective Date” means the date that the Registration
Statement filed pursuant to Section 2(a) is first declared effective by the Commission. 
 “Effectiveness Deadline” means, with respect to the Initial Registration Statement or the New Registration Statement, the earlier of (i) the 90th calendar day following the date
hereof (or the 120th calendar day following the date hereof in the event that such registration statement is subject to review by the Commission) and (ii) the 5th Trading Day after the date the Company is notified (orally or in writing, whichever is earlier) by the Commission that
such Registration Statement will not be “reviewed” or will not be subject to further review; provided, that if the Effectiveness Deadline falls on a Saturday, Sunday or other day that the Commission is closed for business, the
Effectiveness Deadline shall be extended to the next Business Day on which the Commission is open for business. 
 “Effectiveness Period” shall have the meaning set forth in Section 2(b). 
 “Event” shall have the meaning set forth in Section 2(c). 
 “Event Date” shall have the meaning set forth in Section 2(c). 

  
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 “Exchange Act” means the Securities Exchange Act of 1934,
as amended, and the rules and regulations promulgated thereunder. 
 “Filing Deadline” means,
with respect to the Initial Registration Statement required to be filed pursuant to Section 2(a), the 30th calendar day following the date hereof, provided, that if the Filing Deadline falls on a Saturday, Sunday or other day that the
Commission is closed for business, the Filing Deadline shall be extended to the next business day on which the Commission is open for business. 
 “Grace Period” shall have the meaning set forth in Section 2(e). 
 “Holder” or “Holders” means the holder or holders, as the case may be, from time to time of Registrable Securities. 

“Indemnified Party” shall have the meaning set forth in Section 5(c). 

“Indemnifying Party” shall have the meaning set forth in Section 5(c). 

“Initial Registration Statement” means the initial Registration Statement filed pursuant to
Section 2(a) of this Agreement. 
 “Liquidated Damages” shall have the meaning set forth
in Section 2(c). 
 “Losses” shall have the meaning set forth in Section 5(a).

 “New Registration Statement” shall have the meaning set forth in Section 2(a).

 “Person” means an individual or corporation, partnership, trust, incorporated or
unincorporated association, joint venture, limited liability company, joint stock company, government (or an agency or subdivision thereof) or other entity of any kind. 

“Principal Market” means the Trading Market on which the Common Stock is primarily listed on and quoted
for trading, which, as of the date hereof, shall be the NASDAQ Global Select Market. 

“Proceeding” means an action, claim, suit, investigation or proceeding (including, without limitation,
an investigation or partial proceeding, such as a deposition), whether commenced or threatened. 

“Prospectus” means the prospectus included in a Registration Statement (including, without limitation,
a prospectus that includes any information previously omitted from a prospectus filed as part of an effective registration statement in reliance upon Rule 430A promulgated under the Securities Act), as amended or supplemented by any prospectus
supplement, with respect to the terms of the offering of any portion of the Registrable Securities covered by a Registration Statement, and all other amendments and supplements to the Prospectus, including post-effective amendments, and all material
incorporated by reference or deemed to be incorporated by reference in such Prospectus. 
 “Exchange
Agreement” shall have the meaning set forth in the Recitals. 
 “Shareholder” or
“Shareholders” shall have the meaning set forth in the Preamble. 
 “Registrable
Securities” means all of the Common Shares and any securities issued or issuable upon any stock split, dividend or other distribution, recapitalization or similar event with respect to the Common Shares, provided, that the Holder has
timely completed and delivered to the Company a Selling Shareholder Questionnaire; and provided, further, that Preferred Shares or Underlying Shares shall cease to be Registrable Securities upon the earliest to occur of the following:
(A) a sale pursuant to a Registration Statement or Rule 144 under the Securities Act (in which case, only such security sold shall cease to be a Registrable Security); (B) becoming eligible for sale without the requirement for the Company
to be in compliance with the current public information required under Rule l44(c)(l) (or Rule l44(i)(2), if 

  
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applicable) and without volume or manner of sale restrictions by Holders who are not Affiliates of the Company; (C) if such Common Shares have ceased to be outstanding; or (D) if such
Common Shares have been sold in a private transaction in which the Holder’s rights under this Agreement have not been assigned to the transferee. 
 “Registration Statements” means any one or more registration statements of the Company filed under the Securities Act that covers the resale of any of the Registrable Securities pursuant
to the provisions of this Agreement (including without limitation the Initial Registration Statement, the New Registration Statement and any Remainder Registration Statements), amendments and supplements to such Registration Statements, including
post-effective amendments, all exhibits and all material incorporated by reference or deemed to be incorporated by reference in such Registration Statements. 
 “Remainder Registration Statement” shall have the meaning set forth in Section 2(a). 
 “Rule 144” means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from time to time, or any similar rule or regulation hereafter adopted
by the Commission having substantially the same effect as such Rule. 
 “Rule 415” means Rule
415 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule. 

“Rule 424” means Rule 424 promulgated by the Commission pursuant to the Securities Act, as such Rule
may be amended from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule. 
 “SEC Guidance” means (i) any publicly-available written or oral guidance, comments, requirements or requests of the Commission staff and (ii) the Securities Act. 

“Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations
promulgated thereunder. 
 “Selling Shareholder Questionnaire” means a questionnaire in the
form attached as Annex B hereto, or such other form of questionnaire as may reasonably be adopted by the Company from time to time. 
 “Trading Day” means (i) a day on which the Common Stock is listed or quoted and traded on its Principal Market (other than the OTC Bulletin Board), or (ii) if the Common Stock
is not listed on a Trading Market (other than the OTC Bulletin Board), a day on which the Common Stock is traded in the over-the-counter market, as reported by the OTC Bulletin Board, or (iii) if the Common Stock is not quoted on any Trading
Market, a day on which the Common Stock is quoted in the over-the-counter market as reported in the “pink sheets” by OTC Markets Group Inc.(or any similar organization or agency succeeding to its functions of reporting prices);
provided, that in the event that the Common Stock is not listed or quoted as set forth in (i), (ii) and (iii) hereof, then Trading Day shall mean a Business Day. 

“Trading Market” means whichever of the New York Stock Exchange, the NYSE MKT, the NASDAQ Global Select
Market, the NASDAQ Global Market, the NASDAQ Capital Market or OTC Bulletin Board on which the Common Stock is listed or quoted for trading on the date in question. 

2.            Registration. 

(a)          On or prior to the Filing Deadline, the Company shall
prepare and file with the Commission a Registration Statement covering the resale of all of the Registrable Securities not already covered by an existing and effective Registration Statement for an offering to be made on a continuous basis pursuant
to Rule 415 or, if Rule 415 is not available for offers and sales of the Registrable Securities, by such other means of distribution of Registrable Securities as the Company may reasonably determine (the “Initial Registration

  
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Statement”). The Initial Registration Statement shall be on Form S-3 (except if the Company is then ineligible to register for resale of the Registrable Securities on Form S-3, in
which case such registration shall be on such other form available to the Company to register for resale of the Registrable Securities as a secondary offering) subject to the provisions of Section 2(f) and shall contain (except if otherwise
required pursuant to (i) written comments received from the Commission upon a review of such Registration Statement or (ii) a change in SEC Guidance) the “Plan of Distribution” section substantially in the form attached hereto as
Annex A. Notwithstanding the registration obligations set forth in this Section 2, in the event the Commission informs the Company that all of the Registrable Securities cannot, as a result of the application of Rule 415, be registered
for resale as a secondary offering on a single registration statement, the Company agrees to promptly (i) inform each of the Holders thereof and use its commercially reasonable efforts to file amendments to the Initial Registration Statement as
required by the Commission and/or (ii) withdraw the Initial Registration Statement and file a new registration statement (a “New Registration Statement”), in either case covering the maximum number of Registrable Securities
permitted to be registered by the Commission, on Form S-3 or such other form available to the Company to register for resale the Registrable Securities as a secondary offering; provided, that prior to filing such amendment or New Registration
Statement, the Company shall be obligated to use its commercially reasonable efforts to advocate with the Commission for the registration of all of the Registrable Securities in accordance with the SEC Guidance, including without limitation,
Securities Act Rules Compliance and Disclosure Interpretation 612.09. Notwithstanding any other provision of this Agreement and subject to the payment of Liquidated Damages in Section 2(c), if any SEC Guidance sets forth a limitation of
the number of Registrable Securities or other shares of Common Stock permitted to be registered on a particular Registration Statement as a secondary offering (and notwithstanding that the Company used commercial reasonable efforts to advocate with
the Commission for the registration of all or a greater number of Registrable Securities), the number of Registrable Securities or other shares of Common Stock to be registered on such Registration Statement will be reduced on a pro rata basis. In
the event the Company amends the Initial Registration Statement or files a New Registration Statement, as the case may be, under clauses (i) or (ii) above, the Company will use its commercially reasonable efforts to file with the
Commission, as promptly as allowed by Commission or SEC Guidance provided to the Company or to registrants of securities in general, one or more registration statements on Form S-3 or such other form available to the Company to register for resale
those Registrable Securities that were not registered for resale on the Initial Registration Statement, as amended, or the New Registration Statement (the “Remainder Registration Statements”). No Holder shall be named as an
“underwriter” in any Registration Statement without such Holder’s prior written consent. 

(b)          The Company shall use its commercially reasonable efforts
to cause each Registration Statement to be declared effective by the Commission as soon as practicable and, with respect to the Initial Registration Statement or the New Registration Statement, as applicable, no later than the Effectiveness
Deadline, and shall use its commercially reasonable efforts to keep each Registration Statement continuously effective under the Securities Act until the earlier of (i) such time as all of the Registrable Securities covered by such Registration
Statement have been publicly sold by the Holders or (ii) the date that all Registrable Securities covered by such Registration Statement may be sold by non-affiliates of the Company without volume or manner of sale restrictions under Rule 144,
and without the requirement for the Company to be in compliance with the current public information requirements under Rule 144(c)(1) (or Rule 144(i)(2), if applicable), as determined by counsel to the Company pursuant to a written opinion letter to
such effect, addressed and reasonably acceptable to the Company’s transfer agent and the affected Holders (the “Effectiveness Period”). The Company shall request effectiveness of a Registration Statement as of 5:00 p.m. New
York City time on a Trading Day. The Company shall promptly notify the Holders via facsimile or electronic mail of a “.pdf” format data file of the effectiveness of a Registration Statement within one (1) Business Day of the Effective
Date. The Company shall, by 9:30 a.m. New York City time on the first Trading Day after the Effective Date, file a final Prospectus with the Commission, as required by Rule 424(b). 

(c)          If: (i) the Initial Registration Statement is not
filed with the Commission on or prior to the Filing Deadline, (ii) the Initial Registration Statement or the New Registration Statement, as applicable, is not declared effective by the Commission (or otherwise does not become effective) for any
reason on or prior to the Effectiveness Deadline, or (iii) after its Effective Date, (A) such Registration Statement ceases for any reason 

  
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(including without limitation by reason of a stop order, or the Company’s failure to update the Registration Statement), to remain continuously effective as to all Registrable Securities for
which it is required to be effective or (B) the Holders are not permitted to utilize the Prospectus therein to resell such Registrable Securities, in the case of (A) and (B) (other than during an Allowable Grace Period (as defined in
Section 2(e) of this Agreement)), (iv) a Grace Period (as defined in Section 2(e) of this Agreement) exceeds the length of an Allowable Grace Period, or (v) after the date six months following the Closing Date, and only in the
event a Registration Statement is not effective or available to sell all Registrable Securities, the Company fails to file with the SEC any required reports under Section 13 or 15(d) of the Exchange Act such that it is not in compliance with
Rule 144(c)(1) (or Rule 144(i)(2), if applicable), as a result of which the Holders who are not affiliates are unable to sell Registrable Securities without restriction under Rule 144 (or any successor thereto) (any such failure or breach in clauses
(i) through (v) above being referred to as an “Event,” and, for purposes of clauses (i), (ii), (iii) or (v), the date on which such Event occurs, or for purposes of clause (iv) the date on which such Allowable Grace
Period is exceeded, being referred to as an “Event Date”), then in addition to any other rights the Holders may have hereunder or under applicable law, on each such Event Date and on each monthly anniversary of each such Event Date (if the
applicable Event shall not have been cured by such date) until the applicable Event is cured, the Company shall pay to each Holder an amount in cash, as liquidated damages and not as a penalty (“Liquidated Damages”), equal to 0.75% of the
aggregate value of the Common Shares to be issued to the Holder pursuant to the Exchange Agreement for any Registrable Securities held by such Holder on the Event Date. For purposes of the preceding sentence, the aggregate value of the Common Shares
to be issued to the Holder shall be determined by multiplying the number of Common Shares issued to the Holder in connection with the exchange contemplated by the Share Exchange Agreement by the price per share of Common Stock at which the Preferred
Shares shall be exchanged. The parties agree that notwithstanding anything to the contrary herein or in the Exchange Agreement, no Liquidated Damages shall be payable (i) if as of the relevant Event Date, the Registrable Securities may be sold
by non-affiliates of the Company without volume or manner of sale restrictions under Rule 144 and the Company is in compliance with the current public information requirements under Rule 144(c)(1) (or Rule 144(i)(2), if applicable), as determined by
counsel to the Company pursuant to a written opinion letter to such effect, addressed and reasonably acceptable to the Company’s transfer agent (ii) to a Holder causing an Event that relates to or is caused by any action or inaction taken
by such Holder and (iii) with respect to any period after the expiration of the Effectiveness Period (it being understood that this sentence shall not relieve the Company of any Liquidated Damages accruing prior to the expiration of the
Effectiveness Period). If the Company fails to pay any Liquidated Damages pursuant to this Section 2(c) in full within ten (10) Business Days after the date payable, the Company will pay interest thereon at a rate of 1.0% per month
(or such lesser maximum amount that is permitted to be paid by applicable law) to the Holder, accruing daily from the date such Liquidated Damages are due until such amounts, plus all such interest thereon, are paid in full. The Liquidated Damages
pursuant to the terms hereof shall apply on a daily pro-rata basis for any portion of a month prior to the cure of an Event, except in the case of the first Event Date. With respect to a Shareholder, the Effectiveness Deadline for a Registration
Statement shall be extended without default or Liquidated Damages hereunder in the event that the Company’s failure to obtain the effectiveness of the Registration Statement on a timely basis results from the failure of such Shareholder to
timely provide the Company with information requested by the Company and necessary to complete the Registration Statement in accordance with the requirements of the Securities Act (in which case the Effectiveness Deadline would be extended with
respect to Registrable Securities held by such Shareholder). 

(d)          Each Holder agrees to furnish to the Company a completed
Selling Shareholder Questionnaire not more than ten (10) Trading Days following the date of this Agreement. At least five (5) Trading Days prior to the first anticipated filing date of a Registration Statement for any registration under
this Agreement, the Company will notify each Holder of the information the Company requires from that Holder other than the information contained in the Selling Shareholder Questionnaire, if any, which shall be completed and delivered to the Company
promptly upon request and, in any event, within two (2) Trading Days prior to the applicable anticipated filing date. Each Holder further agrees that it shall not be entitled to be named as a selling security holder in the Registration
Statement or use the Prospectus for offers and resales of Registrable Securities at any time, unless such Holder has returned to the Company a completed and signed Selling Shareholder Questionnaire and a response to any requests for further
information as described in the previous sentence. If a Holder of Registrable Securities returns a Selling Shareholder Questionnaire or a request for further information, 

  
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in either case, after its respective deadline, the Company shall use its commercially reasonable efforts at the expense of the Holder who failed to return the Selling Shareholder Questionnaire or
to respond for further information to take such actions as are required to name such Holder as a selling security holder in the Registration Statement or any pre-effective or post-effective amendment thereto and to include (to the extent not
theretofore included) in the Registration Statement the Registrable Securities identified in such late Selling Shareholder Questionnaire or request for further information. Each Holder acknowledges and agrees that the information in the Selling
Shareholder Questionnaire or request for further information as described in this Section 2(d) will be used by the Company in the preparation of the Registration Statement and hereby consents to the inclusion of such information in the
Registration Statement. 
 (e)          Notwithstanding
anything to the contrary herein, at any time after the Registration Statement has been declared effective by the Commission, the Company may delay the disclosure of material non-public information concerning the Company if the disclosure of such
information at the time is not, in the good faith judgment of the Company, in the best interests of the Company (such delay, a “Grace Period”); provided, the Company shall promptly (i) notify the Holders in writing of the
existence of material non-public information giving rise to a Grace Period (provided that the Company shall not disclose the content of such material non-public information to the Holders) or the need to file a post-effective amendment, as
applicable, and the date on which such Grace Period will begin, (ii) use commercially reasonable best efforts to terminate a Grace Period as promptly as practicable and (iii) notify the Holders in writing of the date on which the Grace
Period ends; provided, further, that no single Grace Period shall exceed thirty (30) consecutive days, and during any three hundred sixty-five (365) day period, the aggregate of all Grace Periods shall not exceed an aggregate of
sixty (60) days (each Grace Period complying with this provision being an “Allowable Grace Period”). For purposes of determining the length of a Grace Period, the Grace Period shall be deemed to begin on and include the date
the Holders receive the notice referred to in clause (i) above and shall end on and include the later of the date the Holders receive the notice referred to in clause (iii) above and the date referred to in such notice; provided,
that no Grace Period shall be longer than an Allowable Grace Period. Notwithstanding anything to the contrary, the Company shall cause the Transfer Agent to deliver unlegended Common Stock to a transferee of a Holder in accordance with the terms
of the Exchange Agreement in connection with any sale of Registrable Securities with respect to which a Holder has entered into an irrevocable contract for sale prior to the Holder’s receipt of the notice of a Grace Period and for which the
Holder has not yet settled. 
 (f)          In the event that
Form S-3 is not available for the registration of the resale of Registrable Securities hereunder, the Company shall (i) use commercially reasonable efforts to register the resale of the Registrable Securities on another appropriate form and
(ii) undertake to use commercially reasonable efforts to register the Registrable Securities on Form S-3 promptly after such form is available, provided that the Company shall use commercially reasonable efforts to maintain the
effectiveness of the Registration Statement then in effect until such time as a Registration Statement on Form S-3 covering the Registrable Securities has been declared effective by the Commission. 

3.            Registration Procedures  

 In connection with the Company’s registration obligations hereunder: 

(a)          the Company shall not less than three (3) Trading
Days prior to the filing of a Registration Statement and not less than two (2) Trading Day prior to the filing of any related Prospectus or any amendment or supplement thereto (except for Annual Reports on Form 10-K, Quarterly Reports on Form
10-Q and Current Reports on Form 8-K and any similar or successor reports), furnish to the Holder copies of such Registration Statement, Prospectus or amendment or supplement thereto, as proposed to be filed, which documents will be subject to the
reasonable review of such Holder (it being acknowledged and agreed that if a Holder does not object to or comment on the aforementioned documents within such three (3) Trading Day or two (2) Trading Day period, as the case may be, then the
Holder shall be deemed to have consented to and approved the use of such documents). The Company shall not file any Registration Statement or amendment or supplement thereto in a form to which a Holder reasonably objects in good faith, provided
that, the Company is notified of such objection in writing within the three (3) Trading Day or two (2) Trading Day period described above, as applicable. 

  
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 (b)          (i) the
Company shall prepare and file with the Commission such amendments including post-effective amendments) and supplements, to each Registration Statement and the Prospectus used in connection therewith as may be necessary to keep such Registration
Statement continuously effective as to the applicable Registrable Securities for its Effectiveness Period (except during an Allowable Grace Period); (ii) the Company shall cause the related Prospectus to be amended or supplemented by any
required Prospectus supplement (subject to the terms of this Agreement), and, as so supplemented or amended, to be filed pursuant to Rule 424 (except during an Allowable Grace Period); (iii) the Company shall respond as promptly as reasonably
practicable to any comments received from the Commission with respect to each Registration Statement or any amendment thereto and, as promptly as reasonably possible, provide the Holders true and complete copies of all correspondence from and to the
Commission relating to such Registration Statement that pertains to the Holders as “Selling Shareholders” but not any comments that would result in the disclosure to the Holders of material and non-public information concerning the
Company; and (iv) the Company shall comply with the provisions of the Securities Act and the Exchange Act with respect to the disposition of all Registrable Securities covered by a Registration Statement until such time as all of such
Registrable Securities shall have been disposed of (subject to the terms of this Agreement) in accordance with the intended methods of disposition by the Holders thereof as set forth in such Registration Statement as so amended or in such Prospectus
as so supplemented; provided, that each Shareholder shall be responsible for the delivery of the Prospectus to the Persons to whom such Shareholder sells any of the Registrable Securities (including in accordance with Rule 172 under the
Securities Act), and each Shareholder agrees to dispose of Registrable Securities in compliance with the plan of distribution described in the Registration Statement and otherwise in compliance with applicable federal and state securities laws. In
the case of amendments and supplements to a Registration Statement which are required to be filed pursuant to this Agreement (including pursuant to this Section 3(b)) by reason of the Company filing a report on Form 10-K, Form 10-Q or Form 8-K
or any analogous report under the Exchange Act, the Company shall have incorporated such report by reference into such Registration Statement, if applicable, or shall file such amendments or supplements with the Commission on the same day on which
the Exchange Act report which created the requirement for the Company to amend or supplement such Registration Statement was filed. 
 (c)          the Company shall notify the Holders (which notice shall, pursuant to clauses (iii) through (v) hereof, be accompanied by an
instruction to suspend the use of the Prospectus until the requisite changes have been made) as promptly as reasonably practicable (and, in the case of (i) (A) below, not less than two (2) Trading Days prior to such filing, in the
case of (iii) and (iv) below, not more than one (1) Trading Day after such issuance or receipt, and in the case of (v) below, not more than one (1) Trading Day after the occurrence or existence of such development) and (if
requested by any such Holder) confirm such notice in writing no later than one (1) Trading Day following the day (i)(A) when a Prospectus or any Prospectus supplement or post-effective amendment to a Registration Statement is proposed to be
filed; (B) when the Commission notifies the Company whether there will be a “review” of such Registration Statement and whenever the Commission comments in writing on any Registration Statement (in which case the Company shall provide
to each of the Holders true and complete copies of all comments that pertain to the Holders as a “Selling Shareholder” or to the “Plan of Distribution” and all written responses thereto, but not information that the Company
believes would constitute material and non-public information); and (C) with respect to each Registration Statement or any post-effective amendment, when the same has become effective; (ii) of any request by the Commission or any other
Federal or state governmental authority for amendments or supplements to a Registration Statement or Prospectus or for additional information that pertains to the Holders as “Selling Shareholders” or the “Plan of Distribution”;
(iii) of the issuance by the Commission or any other federal or state governmental authority of any stop order suspending the effectiveness of a Registration Statement covering any or all of the Registrable Securities or the initiation
of any Proceedings for that purpose; (iv) of the receipt by the Company of any notification with respect to the suspension of the qualification or exemption from qualification of any of the Registrable Securities for sale in any
jurisdiction, or the initiation or threatening of any Proceeding for such purpose; and (v) of the occurrence of any event or passage of time that makes the financial statements included in a Registration Statement ineligible for
inclusion therein or any statement made in such Registration Statement or Prospectus or any document 

  
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incorporated or deemed to be incorporated therein by reference untrue in any material respect or that requires any revisions to such Registration Statement, Prospectus or other documents so that,
in the case of such Registration Statement or the Prospectus, as the case may be, it will not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements
therein (in the case of any Prospectus, form of prospectus or supplement thereto, in light of the circumstances under which they were made), not misleading. 
 (d)          the Company shall use commercially reasonable efforts to avoid the issuance of, or, if issued, obtain the withdrawal of (i) any order
suspending the effectiveness of a Registration Statement, or (ii) any suspension of the qualification (or exemption from qualification) of any of the Registrable Securities for sale in any jurisdiction, as soon as practicable. 

(e)          the Company shall, if requested by a Holder, furnish to
such Holder, without charge, at least one conformed copy of each Registration Statement and each amendment thereto and all exhibits to the extent requested by such Holder (including those previously furnished or incorporated by reference) promptly
after the filing of such documents with the Commission; provided, that the Company shall have no obligation to provide any document pursuant to this clause that is available on the Commission’s EDGAR or successor system. 

(f)          the Company shall, prior to any resale of Registrable
Securities by a Holder, use its commercially reasonable efforts to register or qualify or cooperate with the selling Holders in connection with the registration or qualification (or exemption from the registration or qualification) of such
Registrable Securities for the resale by the Holder under the securities or Blue Sky laws of such jurisdictions within the United States as any Holder reasonably requests in writing, to keep each registration or qualification (or exemption
therefrom) effective during the Effectiveness Period and to do any and all other acts or things reasonably necessary to enable the disposition in such jurisdictions of the Registrable Securities covered by each Registration Statement; provided,
that the Company shall not be required to qualify generally to do business in any jurisdiction where it is not then so qualified, subject the Company to any material tax in any such jurisdiction where it is not then so subject or file a general
consent to service of process in any such jurisdiction. 

(g)          the Company shall, reasonably cooperate with the Holders
to facilitate the timely preparation and delivery of certificates representing Registrable Securities to be delivered to a transferee pursuant to the Registration Statement, which certificates shall be free, to the extent permitted by the Exchange
Agreement and under law, of all restrictive legends, and to enable such Registrable Securities to be in such denominations and registered in such names as any such Holders may reasonably request. Certificates for Registrable Securities free from all
restrictive legends may be transmitted by the transfer agent to a Holder by crediting the account of such Holder’s prime broker with DTC as directed by such Holder. 

(h)          the Company shall following the occurrence of any event
contemplated by Section 3(c)(iii)-(v), as promptly as reasonably practicable (taking into account the Company’s good faith assessment of any adverse consequences to the Company and its shareholders of the premature disclosure of such
event), prepare and file a supplement or amendment, including a post-effective amendment, to the affected Registration Statements or a supplement to the related Prospectus or any document incorporated or deemed to be incorporated therein by
reference, and file any other required document so that, as thereafter delivered, no Registration Statement nor any Prospectus will contain 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 (in the case of any Prospectus, form of prospectus or supplement thereto, in light of the circumstances under which they were made), not misleading. 

(i)          the Company may require each selling Holder to furnish to
the Company a certified statement as to (i) the number of shares of Common Stock beneficially owned by such Holder and any Affiliate thereof, (ii) any Financial Industry Regulatory Authority (“FINRA”) affiliations,
(iii) any natural persons who have the power to vote or dispose of the Common Stock and (iv) any other information as may be requested by the Commission, FINRA, any state securities commission or any other government or regulatory body
with jurisdiction over the Company or its activities. During any periods that the Company is unable to meet its 

  
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obligations hereunder with respect to the registration of Registrable Securities because any Holder fails to furnish such information within three (3) Trading Days of the Company’s
request, any Liquidated Damages that are accruing at such time as to such Holder only shall be tolled and any Event that may otherwise occur solely because of such delay shall be suspended as to such Holder only, until such information is delivered
to the Company. 
 (j)          the Company shall cooperate
with any registered broker through which a Holder proposes to resell its Registrable Securities in effecting a filing with FINRA pursuant to FINRA Rule 5110 as requested by any such Holder and the Company shall pay the filing fee required for the
first such filing (but not additional filings) within two (2) Business Days of the request therefore. 

(k)          the Company shall use its commercially reasonable efforts
to maintain eligibility for use of Form S-3 (or any successor form thereto) for the registration of the resale of Registrable Securities. 
 (l)          if requested by a Holder, the Company shall (i) promptly incorporate in a Prospectus supplement or post-effective amendment to the
Registration Statement such information as the Company reasonably agrees (upon advice of counsel) should be included therein and (ii) make all required filings of such Prospectus supplement or such post-effective amendment as soon as reasonably
practicable after the Company has received notification of the matters to be incorporated in such Prospectus supplement or post-effective amendment. 
 (m)          the Company shall otherwise use commercially reasonable efforts to comply with all applicable rules and regulations of the Commission under
the Securities Act and the Exchange Act, including Rule 172, notify the Holders promptly if the Company no longer satisfies the conditions of Rule 172 and take such other actions as may be reasonably necessary to facilitate the registration of the
Registrable Securities hereunder; and make available to its security holders, as soon as reasonably practicable, but not later than the Availability Date (as defined below), an earnings statement covering a period of at least twelve
(12) months, beginning after the effective date of each Registration Statement, which earning statement shall satisfy the provisions of Section l1(a) of the Securities Act, including Rule 158 promulgated thereunder (for the purpose of this
Section 3, “Availability Date” means the 45th day following the end of the fourth fiscal quarter that includes the effective date of such Registration Statement, except that, if such fourth fiscal quarter is the last quarter of the
Company’s fiscal year, “Availability Date” means the 90th day after the end of such fourth fiscal quarter), in each case subject to extensions permissible under applicable law. 

4.            Registration Expenses.  All
fees and expenses incident to the Company’s performance of or compliance with its obligations under this Agreement (excluding any underwriting discounts and selling commissions and all legal fees and expenses of legal counsel for any Holder)
shall be borne by the Company whether or not any Registrable Securities are sold pursuant to a Registration Statement. The fees and expenses referred to in the foregoing sentence shall include, without limitation, (i) all registration and
filing fees (including, without limitation, fees and expenses (A) with respect to filings required to be made with any Trading Market on which the Common Stock is then listed for trading, (B) with respect to compliance with applicable
state securities or Blue Sky laws (including, without limitation, fees and disbursements of counsel for the Company in connection with Blue Sky qualifications or exemptions of the Registrable Securities and determination of the eligibility of the
Registrable Securities for investment under the laws of such jurisdictions as requested by the Holders) and (C) if not previously paid by the Company in connection with an Issuer Filing, with respect to any filing that may be required to be
made by any broker through which a Holder intends to make sales of Registrable Securities with FINRA pursuant to FINRA Rule 5110, so long as the broker is receiving no more than a customary brokerage commission in connection with such sale,
(ii) printing expenses (including, without limitation, expenses of printing certificates for Registrable Securities and of printing prospectuses if the printing of prospectuses is reasonably requested by the Holders of a majority of the
Registrable Securities included in the Registration Statement), (iii) messenger, telephone and delivery expenses of the Company, (iv) fees and disbursements of counsel for the Company, (v) Securities Act liability insurance, if the
Company so desires such insurance, and (vi) fees and expenses of all other Persons retained by the Company in connection with the consummation of the transactions contemplated by this Agreement. In addition, the Company shall be responsible for
all of its internal 

  
 9 

 
expenses incurred in connection with the consummation of the transactions contemplated by this Agreement (including, without limitation, all salaries and expenses of its officers and employees
performing legal or accounting duties), the expense of any annual audit and the fees and expenses incurred in connection with the listing of the Registrable Securities on any securities exchange as required hereunder. In no event shall the Company
be responsible for any underwriting, broker or similar fees or commissions of any Holder or, except to the extent provided for in the Transaction Documents, any legal fees or other costs of the Holders. 

5.            Indemnification. 

(a)          Indemnification by the Company. The Company shall,
notwithstanding any termination of this Agreement, indemnify, defend and hold harmless each Holder, the officers, directors, agents, general partners, managing members, managers, Affiliates, employees and investment advisers of each of them, each
Person who controls any such Holder (within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act) and the officers, directors, general partners, managing members, managers, agents, employees and investment
advisers of each such controlling Person, to the fullest extent permitted by applicable law, from and against any and all losses, claims, damages, liabilities, costs (including, without limitation, reasonable costs of preparation and investigation
and reasonable and documented attorneys’ fees) and expenses (collectively, “Losses”), as incurred, that arise out of or are based upon any untrue or alleged untrue statement of a material fact contained in any Registration
Statement, any Prospectus or any form of prospectus or in any amendment or supplement thereto or in any preliminary prospectus, or arising out of or relating to any omission or alleged omission to state a material fact required to be stated therein
or necessary to make the statements therein (in the case of any Prospectus or form of prospectus or supplement thereto, in light of the circumstances under which they were made) not misleading, except to the extent, but only to the extent, that
(A) such untrue statements, alleged untrue statements, omissions or alleged omissions are based solely upon information regarding such Holder furnished in writing to the Company by such Holder expressly for use therein (including information
provided by any Holder in Annex B, Selling Shareholder Notice and Questionnaire), or to the extent that such information relates to such Holder or such Holder’s proposed method of distribution of Registrable Securities and was reviewed
and approved by such Holder expressly for use in the Registration Statement, such Prospectus or such form of Prospectus or in any amendment or supplement thereto (it being understood that each Holder has approved Annex A hereto for this
purpose), or (B) in the case of an occurrence of an event of the type specified in Section 3(c)(iii)-(v), related to the use by a Holder of an outdated or defective Prospectus after the Company has notified such Holder in writing or
electronic mail that the Prospectus is outdated or defective and prior to the receipt by such Holder of the Advice contemplated and defined in Section 6(d) below, but only if and to the extent that following the receipt of the Advice the
misstatement or omission giving rise to such Loss would have been corrected. The Company shall notify the Holders promptly of the institution, threat or assertion of any Proceeding arising from or in connection with the transactions contemplated by
this Agreement of which the Company is aware. Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of an Indemnified Party (as defined in Section 5(c)) and shall survive the transfer of the
Registrable Securities by the Holders. 

(b)          Indemnification by Holders. Each Holder shall,
severally and not jointly, indemnify and hold harmless the Company, its directors, officers, agents and employees, each Person who controls the Company (within the meaning of Section 15 of the Securities Act and Section 20 of the Exchange
Act), and the directors, officers, agents or employees of such controlling Persons, to the fullest extent permitted by applicable law, from and against all Losses, as incurred, arising out of or are based upon any untrue or alleged untrue statement
of a material fact contained in any Registration Statement, any Prospectus, or any form of prospectus, or in any amendment or supplement thereto or in any preliminary prospectus, or arising out of or relating to any omission or alleged omission of a
material fact required to be stated therein or necessary to make the statements therein (in the case of any Prospectus, or any form of prospectus or supplement thereto, in light of the circumstances under which they were made) not misleading
(i) to the extent, but only to the extent, that such untrue statements or omissions are based solely upon information regarding such Holder furnished in writing to the Company by such Holder expressly for use therein (including information
provided by any Holder in Annex B, Selling Shareholder Notice and Questionnaire) or (ii) to the extent, but only to the extent, that such information relates to such Holder or such

  
 10 

 
Holder’s proposed method of distribution of Registrable Securities and was reviewed and approved by such Holder expressly for use in a Registration Statement (it being understood that the
Holder has approved Annex A hereto for this purpose), such Prospectus or such form of Prospectus or in any amendment or supplement thereto or (iii) in the case of an occurrence of an event of the type specified in
Section 3(c)(iii)-(v), to the extent, but only to the extent, related to the use by such Holder of an outdated or defective Prospectus after the Company has notified such Holder in writing that the Prospectus is outdated or defective and prior
to the receipt by such Holder of the Advice contemplated in Section 6(d), but only if and to the extent that following the receipt of the Advice the misstatement or omission giving rise to such Loss would have been corrected. In no event shall
the liability of any selling Holder hereunder be greater in amount than the dollar amount of the net proceeds received by such Holder upon the sale of the Registrable Securities giving rise to such indemnification obligation. 

(c)          Conduct of Indemnification Proceedings. If any
Proceeding shall be brought or asserted against any Person entitled to indemnity hereunder (an “Indemnified Party”), such Indemnified Party shall promptly notify the Person from whom indemnity is sought (the “Indemnifying
Party”) in writing, and the Indemnifying Party shall have the right to assume the defense thereof, including the employment of one counsel reasonably satisfactory to the Indemnified Party and the payment of all reasonable and documented
fees and expenses incurred in connection with defense thereof; provided, that the failure of any Indemnified Party to give such written notice within a reasonable time of commencement of any such Proceeding shall not relieve the Indemnifying
Party of its obligations or liabilities pursuant to this Agreement, except (and only) to the extent that it shall be finally determined by a court of competent jurisdiction (which determination is not subject to appeal or further review) that such
failure shall have materially and adversely prejudiced the Indemnifying Party in its ability to defend such Proceeding. 
 An Indemnified Party shall have the right to employ separate counsel in any such Proceeding and to participate in the defense thereof, but the fees and expenses of such counsel shall be at the expense of
such Indemnified Party or Parties unless: (1) the Indemnifying Party has agreed in writing to pay such fees and expenses; (2) the Indemnifying Party shall have failed promptly to assume the defense of such Proceeding and to employ counsel
reasonably satisfactory to such Indemnified Party in any such Proceeding; or (3) the named parties to any such Proceeding (including any impleaded parties) include both such Indemnified Party and the Indemnifying Party, and such Indemnified
Party shall have been advised by counsel that a conflict of interest exists if the same counsel were to represent such Indemnified Party and the Indemnifying Party; provided, that the Indemnifying Party shall not be liable for the fees and
expenses of more than one separate firm of attorneys at any time for all Indemnified Parties. The Indemnifying Party shall not be liable for any settlement of any such Proceeding effected without its written consent, which consent shall not be
unreasonably withheld, delayed or unreasonably conditioned. No Indemnifying Party shall, without the prior written consent of the Indemnified Party, effect any settlement of any pending Proceeding in respect of which any Indemnified Party is a
party, unless such settlement includes an unconditional release of such Indemnified Party from all liability on claims that are the subject matter of such Proceeding. 

Subject to the terms of this Agreement, all documented fees and expenses of the Indemnified Party (including reasonable
fees and expenses to the extent incurred in connection with investigating or preparing to defend such Proceeding in a manner not inconsistent with this Section 5(c)) shall be paid to the Indemnified Party, as incurred, within twenty
(20) Trading Days of written notice thereof to the Indemnifying Party; provided, that the Indemnified Party shall promptly reimburse the Indemnifying Party for that portion of such fees and expenses applicable to such actions for which
such Indemnified Party is finally judicially determined to not be entitled to indemnification hereunder. 

(d)          Contribution. If a claim for indemnification under
Section 5(a) or 5(b) is unavailable to an Indemnified Party or insufficient to hold an Indemnified Party harmless for any Losses, then each Indemnifying Party, in lieu of indemnifying such Indemnified Party, shall contribute to the amount paid
or payable by such Indemnified Party as a result of such Losses, in such proportion as is appropriate to reflect the relative fault of the Indemnifying Party and Indemnified Party in connection with the actions, statements or omissions that resulted
in such Losses as well as any other relevant equitable considerations. The relative fault of 

  
 11 

 
such Indemnifying Party and Indemnified Party shall be determined by reference to, among other things, whether any action in question, including any untrue or alleged untrue statement of a
material fact or omission or alleged omission of a material fact, has been taken or made by, or relates to information supplied by, such Indemnifying Party or Indemnified Party, and the parties’ relative intent, knowledge, access to information
and opportunity to correct or prevent such action, statement or omission. The amount paid or payable by a party as a result of any Losses shall be deemed to include, subject to the limitations set forth in this Agreement, any reasonable
attorneys’ or other reasonable fees or expenses incurred by such party in connection with any Proceeding to the extent such party would have been indemnified for such fees or expenses if the indemnification provided for in this
Section 5(d) was available to such party in accordance with its terms. 
 The parties hereto agree that it
would not be just and equitable if contribution pursuant to this Section 5(d) were determined by pro rata allocation or by any other method of allocation that does not take into account the equitable considerations referred to in the
immediately preceding paragraph. Notwithstanding the provisions of this Section 5(d), no Holder shall be required to contribute, in the aggregate, any amount in excess of the amount by which the net proceeds actually received by such Holder
from the sale of the Registrable Securities subject to the Proceeding exceeds the amount of any damages that such Holder has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. 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 guilty of such fraudulent misrepresentation. 

The indemnity and contribution agreements contained in this Section 5 are in addition to any liability that the
Indemnifying Parties may have to the Indemnified Parties and are not in diminution or limitation of the indemnification provisions under the Exchange Agreement. 

6.            Miscellaneous.   

(a)          Remedies.  In the event of a breach by
the Company or by a Holder of any of their obligations under this Agreement, each Holder or the Company, as the case may be, in addition to being entitled to exercise all rights granted by law and under this Agreement, including recovery of damages,
will be entitled to specific performance of its rights under this Agreement. The Company and each Holder agree that monetary damages would not provide adequate compensation for any losses incurred by reason of a breach by it of any of the provisions
of this Agreement and hereby further agrees that, in the event of any action for specific performance in respect of such breach, it shall waive the defense that a remedy at law would be adequate. 

(b)          No Piggyback on Registrations; Prohibition on Filing
Other Registration Statements. Other than, with respect to, the registration rights granted in agreements listed on Annex C, neither the Company nor any of its security holders may include securities of the Company in a Registration
Statement hereunder and the Company shall not prior to the Effective Date enter into any agreement providing any such right to any of its security holders. The Company shall not, from the date hereof until the date that is 60 days after the
Effective Date of the Initial Registration Statement, prepare and file with the Commission a registration statement relating to an offering for its own account under the Securities Act of any of its equity securities, other than (i) a
registration statement on Form S-8, (ii) in connection with an acquisition or similar transaction, on Form S-4, or (iii) a registration statement to register for resale securities issued by the Company pursuant to acquisitions or similar
transaction or strategic transactions approved by a majority of the disinterested directors of the Company, provided that any such issuance shall only be to a Person which is, itself or through its subsidiaries, an operating company in a business
synergistic with the business of the Company and in which the Company receives benefits in addition to the investment of funds, but shall not include a transaction in which the Company is issuing securities primarily for the purpose of raising
capital or to an entity whose primary business is investing in securities. For the avoidance of doubt, the Company shall not be prohibited from preparing and filing with the Commission a registration statement relating to an offering of Common Stock
by existing shareholders of the Company under the Securities Act pursuant to the terms of registration rights held by such shareholder or from filing amendments to registration statements filed prior to the date of this Agreement. 

  
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(c)          Compliance. Each Holder covenants and agrees that
it will comply with the prospectus delivery requirements of the Securities Act as applicable to it (unless an exemption therefrom is available) in connection with sales of Registrable Securities pursuant to the Registration Statement and shall sell
the Registrable Securities only in accordance with a method of distribution described in the Registration Statement. 
 (d)          Discontinued Disposition. By its acquisition of Registrable Securities, each Holder agrees that, upon receipt of a notice from the
Company of the occurrence of any event of the kind described in Section 3(c)(iii)-(v), such Holder will forthwith discontinue disposition of such Registrable Securities under a Registration Statement until it is advised in writing (the
“Advice”) by the Company that the use of the applicable Prospectus (as it may have been supplemented or amended) may be resumed. The Company may provide appropriate stop orders to enforce the provisions of this paragraph.

 (e)          No Inconsistent Agreements. Neither
the Company nor any of its Subsidiaries has entered, as of the date hereof, nor shall the Company or any of its Subsidiaries, on or after the date hereof, enter into any agreement with respect to its securities, that would have the effect of
impairing the rights granted to the Holders in this Agreement or otherwise conflicts with the provisions hereof. 
 (f)          Amendments and Waivers. The provisions of this Agreement, including the provisions of this sentence, may not be amended, modified or
supplemented, or waived unless the same shall be in writing and signed by the Company and Holders holding at least two-thirds of the then outstanding Registrable Securities, provided that any party may give a waiver as to itself. Notwithstanding the
foregoing, a waiver or consent to depart from the provisions hereof with respect to a matter that relates exclusively to the rights of Holders and that does not directly or indirectly affect the rights of other Holders may be given by Holders of all
of the Registrable Securities to which such waiver or consent relates; provided, that the provisions of this sentence may not be amended, modified, or supplemented except in accordance with the provisions of the immediately preceding
sentence. Notwithstanding the foregoing, if any such amendment, modification or waiver would adversely affect in any material respect any Holder or group of Holders who have comparable rights under this Agreement disproportionately to the other
Holders having such comparable rights, such amendment, modification, or waiver shall also require the written consent of the Holder(s) so adversely affected. 
 (g)          Notices. Any and all notices or other communications or deliveries required or permitted to be provided hereunder shall be delivered
as set forth in the Exchange Agreement; provided that the Company may deliver to each Holder the documents required to be delivered to such Holder under Section 3(a) of this Agreement bye-mail to the e-mail addresses provided by such Holder to
the Company solely for such specific purpose. 

(h)          Successors and Assigns. This Agreement shall inure
to the benefit of and be binding upon the successors and permitted assigns of each of the parties and shall inure to the benefit of each Holder. Nothing in this Agreement, express or implied, is intended to confer upon any party other than the
parties hereto or their respective successors and assigns any rights, remedies, obligations, or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement. The Company may not assign its rights (except by merger
or in connection with another entity acquiring all or substantially all of the Company’s assets) or obligations hereunder without the prior written consent of all the Holders of the then outstanding Registrable Securities. Each Holder may
assign its respective rights hereunder in the manner and to the Persons as permitted under the Exchange Agreement. 
 (i)          Execution and Counterparts. This Agreement may be executed in two or more counterparts, each of which when so executed shall be deemed
to be an original and, all of which taken together shall constitute one and the same Agreement and shall become effective when counterparts have been signed by each party and delivered to the other party, it being understood that both parties need
not sign the same counterpart. In the event that any signature is delivered by facsimile transmission or by email delivery of a “.pdf” format data file, such signature shall create a valid and binding obligation of the party executing (or
on whose behalf such signature is executed) with the same force and effect as if such facsimile or “.pdf” signature were the original thereof. 

  
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 (j)          Governing
Law. All questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be determined in accordance with the provisions of the Exchange Agreement. 

(k)          Cumulative Remedies. Except as provided in
Section 2(c) with respect to Liquidated Damages, the remedies provided herein are cumulative and not exclusive of any other remedies provided by law. 
 (1)          Severability. If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction to be
invalid, illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full force and effect and shall in no way be affected, impaired or invalidated, and the parties hereto shall
use their good faith reasonable efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated by such term, provision, covenant or restriction. It is hereby stipulated and declared to be
the intention of the parties that they would have executed the remaining terms, provisions, covenants and restrictions without including any of such that may be hereafter declared invalid, illegal, void or unenforceable. 

(m)          Headings. The headings in this Agreement are for
convenience only and shall not limit or otherwise affect the meaning hereof. 

(n)          Independent Nature of Shareholders’ Obligations
and Rights. The obligations of each Shareholder under this Agreement are several and not joint with the obligations of any other Shareholder hereunder, and no Shareholder shall be responsible in any way for the performance of the obligations of
any other Shareholder hereunder. The decision of each Shareholder to purchase the Preferred Shares pursuant to the Transaction Documents has been made independently of any other Shareholder. Nothing contained herein or in any other agreement or
document delivered at any closing, and no action taken by any Shareholder pursuant hereto or thereto, shall be deemed to constitute the Shareholders as a partnership, an association, a joint venture or any other kind of entity, or create a
presumption that the Shareholders are in any way acting in concert with respect to such obligations or the transactions contemplated by this Agreement. Each Shareholder acknowledges that no other Shareholder has acted as agent for such Shareholder
in connection with making its investment hereunder and that no Shareholder will be acting as agent of such Shareholder in connection with monitoring its investment in the Preferred Shares or enforcing its rights under the Transaction Documents. Each
Shareholder shall be entitled to protect and enforce its rights, including, without limitation, the rights arising out of this Agreement, and it shall not be necessary for any other Shareholder to be joined as an additional party in any Proceeding
for such purpose. The Company acknowledges that each of the Shareholders has been provided with the same Registration Rights Agreement for the purpose of closing a transaction with multiple Shareholders and not because it was required or requested
to do so by any Shareholder. It is expressly understood and agreed that each provision contained in this Agreement is between the Company and a Shareholder, solely, and not between the Company and the Shareholders collectively and not between and
among the Shareholders. 

  
 14 

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

							
		 	Yadkin Valley Financial Corporation	  	
				
		 	 By:
	 	  
	  	
		 		 	  Name:
	  	
		 		 	  Title:
	  	

 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK, 

SIGNATURE PAGES OF HOLDERS TO FOLLOW] 

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

			
	 NAME OF INVESTING ENTITY

	
	  
 AUTHORIZED
SIGNATORY

		
	 By:
	 	
		 	       Name:

		 	       Title:

	
	 ADDRESS FOR NOTICE

		
	 c/o:
	 	  

			
		
	 Street:
	 	  

			
		
	 City/State/Zip:
	 	  

			
		
	 Attention:
	 	  

		
	 Tel:
	 	
		
	 Fax:
	 	
		
	 Email:
	 	

  
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 Annex A   

PLAN OF DISTRIBUTION 
 We are registering the Securities issued to the selling shareholder to permit the resale of these Securities by the holders of the Securities from time to time after the date of this prospectus. We will
not receive any of the proceeds from the sale by the selling shareholders of the Securities. We will bear all fees and expenses incident to our obligation to register the Securities. 

The selling shareholders may sell all or a portion of the Securities beneficially owned by them and offered hereby from
time to time directly or through one or more underwriters, broker-dealers or agents. If the Securities are sold through underwriters or broker-dealers, the selling shareholders will be responsible for underwriting discounts or commissions or
agent’s commissions. The Securities may be sold on any national securities exchange or quotation service on which the securities may be listed or quoted at the time of sale, in the over-the-counter market or in transactions otherwise than on
these exchanges or systems or in the over the-counter market and in one or more transactions at fixed prices, at prevailing market prices at the time of the sale, at varying prices determined at the time of sale, or at negotiated prices. These sales
may be effected in transactions, which may involve crosses or block transactions. The selling shareholders may use anyone or more of the following methods when selling Securities: 

 

	 	•	 	 ordinary brokerage transactions and transactions in which the broker-dealer solicits purchasers; 

 

	 	•	 	 block trades in which the broker-dealer will attempt to sell the shares as agent but may position and resell a portion of the block as principal to
facilitate the transaction; 

  

	 	•	 	 purchases by a broker-dealer as principal and resale by the broker-dealer for its account; 

 

	 	•	 	 an exchange distribution in accordance with the rules of the applicable exchange; 

 

	 	•	 	 privately negotiated transactions; 

  

	 	•	 	 settlement of short sales entered into after the effective date of the registration statement of which this prospectus is a part;

  

	 	—	 	 broker-dealers may agree with the selling shareholders to sell a specified number of such securities at a stipulated price per share;

  

	 	—	 	 through the writing or settlement of options or other hedging transactions, whether such options are listed on an options exchange or otherwise;

  

	 	•	 	 a combination of any such methods of sale; and 

  

	 	•	 	 any other method permitted pursuant to applicable law. 

The selling shareholders also may resell all or a portion of the Securities in open market transactions in reliance upon
Rule 144 under the Securities Act, as permitted by that rule, or Section 4(1) under the Securities Act, if available, rather than under this prospectus, provided that they meet the criteria and conform to the requirements of those provisions.

 Broker-dealers engaged by the selling shareholders may arrange for other broker-dealers to participate in
sales. If the selling shareholders effect such transactions by selling Securities to or through underwriters, broker-dealers or agents, such underwriters, broker-dealers or agents may receive commissions in the form of discounts, concessions or
commissions from the selling shareholders or commissions from purchasers of the Securities for whom they may act as agent or to whom they may sell as principal. Such commissions will be in amounts to be negotiated, but, except as set forth in a
supplement to this prospectus, in the case of an agency transaction will not be in excess of a customary brokerage commission in compliance with NASD Rule 2440; and in the case of a principal transaction a markup or markdown in compliance with NASD
Rule IM 2440. 

  
 17 

 In connection with sales of the Securities or otherwise, the selling
shareholders may enter into hedging transactions with broker-dealers or other financial institutions, which may in turn engage in short sales of the Securities in the course of hedging in positions they assume. The selling shareholders may also sell
Securities short and if such short sale shall take place after the date that this Registration Statement is declared effective by the Commission, the selling shareholders may deliver Securities covered by this prospectus to close out short positions
and to return borrowed shares in connection with such short sales. The selling shareholders may also loan or pledge Securities to broker-dealers that in turn may sell such shares, to the extent permitted by applicable law. The selling shareholders
may also enter into option or other transactions with broker-dealers or other financial institutions or the creation of one or more derivative securities which require the delivery to such broker-dealer or other financial institution of shares
offered by this prospectus, which shares such broker-dealer or other financial institution may resell pursuant to this prospectus (as supplemented or amended to reflect such transaction). Notwithstanding the foregoing, the selling shareholders have
been advised that they may not use shares registered on this registration statement to cover short sales of our Securities made prior to the date the registration statement, of which this prospectus forms a part, has been declared effective by the
SEC. 
 The selling shareholders may, from time to time, pledge or grant a security interest in some or all of
the Securities owned by them and, if they default in the performance of their secured obligations, the pledgees or secured parties may offer and sell the Securities from time to time pursuant to this prospectus or any amendment to this prospectus
under Rule 424(b)(3) or other applicable provision of the Securities Act of 1933, as amended, amending, if necessary, the list of selling shareholders to include the pledgee, transferee or other successors in interest as selling shareholders under
this prospectus. The selling shareholders also may transfer and donate the Securities in other circumstances in which case the transferees, donees, pledgees or other successors in interest will be the selling beneficial owners for purposes of this
prospectus. 
 Any broker-dealer or agents participating in the distribution of the Securities may be deemed to
be “underwriters” within the meaning of Section 2(11) of the Securities Act in connection with such sales. In such event, any commissions paid, or any discounts or concessions allowed to, any such broker-dealer or agent and any profit
on the resale of the shares purchased by them may be deemed to be underwriting commissions or discounts under the Securities Act. To the extent that any of the Selling Shareholders are deemed to be “underwriters” within the meaning of
Section 2(11) of the Securities Act, such Selling Shareholders will be subject to the applicable prospectus delivery requirements of the Securities Act and may be subject to certain statutory liabilities of, including but not limited to,
Sections 11, 12 and 17 of the Securities Act and Rule 10b-5 under the Securities Exchange Act of 1934, as amended, or the Exchange Act. 
 Each selling shareholder has informed the Company that it is not a registered broker-dealer and does not have any written or oral agreement or understanding, directly or indirectly, with any person to
distribute the Securities. Upon the Company being notified in writing by a selling shareholder that any material arrangement has been entered into with a broker-dealer for the sale of Securities through a block trade, special offering, exchange
distribution or secondary distribution or a purchase by a broker or dealer, a supplement to this prospectus will be filed by the Company, if required, pursuant to Rule 424(b) under the Securities Act, disclosing (i) the name of each such
selling shareholder and of the participating broker-dealer(s), (ii) the number of shares involved, (iii) the price at which such the Securities were sold, (iv) the commissions paid or discounts or concessions allowed to such
broker-dealer(s), where applicable, (v) that such broker-dealer(s) did not conduct any investigation to verify the information set out or incorporated by reference in this prospectus, and (vi) other facts material to the transaction. In no
event shall any broker-dealer receive fees, commissions and markups, which, in the aggregate, would exceed eight percent (8%). 
 Under the securities laws of some states, the Common Stock may be sold in such states only through registered or licensed brokers or dealers. In addition, in some states the Common Stock may not be sold
unless such shares have been registered or qualified for sale in such state or an exemption from registration or qualification is available and is complied with. 

  
 18 

 There can be no assurance that any selling shareholder will sell any or all of the
Securities registered pursuant to the shelf registration statement, of which this prospectus forms a part. 

Each selling shareholder and any other person participating in such distribution will be subject to applicable provisions
of the Securities Exchange Act of 1934, as amended, and the rules and regulations thereunder, including, without limitation, to the extent applicable, Regulation M of the Exchange Act, which may limit the timing of purchases and sales of any of the
Securities by the selling shareholder and any other participating person. To the extent applicable, Regulation M may also restrict the ability of any person engaged in the distribution of the Securities to engage in market-making activities with
respect to the Securities. All of the foregoing may affect the marketability of the Securities and the ability of any person or entity to engage in market-making activities with respect to the Securities. 

We will pay all expenses of the registration of the Securities pursuant to the registration rights agreement, including,
without limitation, Securities and Exchange Commission filing fees and expenses of compliance with state securities or “blue sky” laws; provided, that each selling shareholder will pay all underwriting discounts and selling
commissions, if any and any related legal expenses incurred by it. We will indemnify the selling shareholders against certain liabilities, including some liabilities under the Securities Act, in accordance with the registration rights agreement, or
the selling shareholders will be entitled to contribution. We may be indemnified by the selling shareholders against civil liabilities, including liabilities under the Securities Act, that may arise from any written information furnished to us by
the selling shareholders specifically for use in this prospectus, in accordance with the related registration rights agreements, or we may be entitled to contribution. 

  
 19 

 Annex B   

YADKIN VALLEY FINANCIAL CORPORATION 
 SELLING SHAREHOLDER NOTICE AND QUESTIONNAIRE 
 The undersigned
holder of securities of Yadkin Valley Financial Corporation, a North Carolina corporation (the “Company”), issued pursuant to a certain Share Exchange Agreement by and among the Company and the Shareholders named therein, dated as
of October 23, 2012, understands that the Company intends to file with the Securities and Exchange Commission a registration statement on Form S-3 (the “Resale Registration Statement”) for the registration and the resale under
Rule 415 of the Securities Act of 1933, as amended (the “Securities Act”), of the Registrable Securities in accordance with the terms of a certain Registration Rights Agreement by and among the Company and the Shareholders named
therein, dated as of October 23, 2012 (the “Agreement”). All capitalized terms not otherwise defined herein shall have the meanings ascribed thereto in the Agreement. 

In order to sell or otherwise dispose of any Registrable Securities pursuant to the Resale Registration Statement, a
holder of Registrable Securities generally will be required to be named as a selling shareholder in the related prospectus or a supplement thereto (as so supplemented, the “Prospectus”), deliver the Prospectus to Shareholders of
Registrable Securities (including pursuant to Rule 172 under the Securities Act) and be bound by the provisions of the Agreement (including certain indemnification provisions, as described below). Holders must complete and deliver this Notice and
Questionnaire in order to be named as selling shareholders in the Prospectus. Holders of Registrable Securities who do not complete, execute and return this Notice and Questionnaire within ten (10) Trading Days following the date of the
Agreement (1) will not be named as selling shareholders in the Resale Registration Statement or the Prospectus and (2) may not use the Prospectus for resales of Registrable Securities. 

Certain legal consequences arise from being named as a selling shareholder in the Resale Registration Statement and the
Prospectus. Holders of Registrable Securities are advised to consult their own securities law counsel regarding the consequences of being named or not named as a selling shareholder in the Resale Registration Statement and the Prospectus.

 NOTICE 
 The undersigned holder (the “Selling Shareholder”) of Registrable Securities hereby gives notice to the Company of its intention to sell or otherwise dispose of Registrable Securities
owned by it and listed below in Item (3), unless otherwise specified in Item (3), pursuant to the Resale Registration Statement. The undersigned, by signing and returning this Notice and Questionnaire, understands and agrees that it will be bound by
the terms and conditions of this Notice and Questionnaire and the Agreement. 
 The undersigned hereby provides the following
information to the Company and represents and warrants that such information is accurate and complete: 
 QUESTIONNAIRE

  

	1.	Name. 

  

	 	(a)	Full Legal Name of Selling Shareholder: 

  
 20 

	 	(b)	Full Legal Name of Registered Holder (if not the same as (a) above) through which Registrable Securities Listed in Item 3 below are held:

  
  

	 	(c)	Full Legal Name of Natural Control Person (which means a natural person who directly or indirectly alone or with others has power to vote or dispose of the securities
covered by the questionnaire) : 

  
 2. Address
for Notices to Selling Shareholder: 
  
  

			
	 Telephone:
	 	  

			
	 Fax:
	 	  

					
	Contact Person:	 	  
	 	     

 
	
	 E-mail address of Contact Person:

 3. Beneficial Ownership of Registrable Securities Issuable Pursuant to the Exchange Agreement: 

 

	 	(a)	Type and Number of Registrable Securities beneficially owned and issued pursuant to the Agreement: 

 
  
  

	 	(b)	Number of Securities to be registered pursuant to this Notice for resale: 

 
  

4. Broker-Dealer Status: 
  

	 	(a)	Are you a broker-dealer? 

  

	
	Yes     
	
	No      

  
 21 

	 	(b)	If “yes” to Section 4(a), did you receive your Registrable Securities as compensation for investment banking services to the Company?

Yes                 No     
        
 Note: If no, the Commission’s staff has indicated that you
should be identified as an underwriter in the Registration Statement. 
  

	 	(c)	Are you an affiliate of a broker-dealer? 

 Yes                 No             

Note: If yes, provide a narrative explanation below: 

 
  
  

	 	(c)	If you are an affiliate of a broker-dealer, do you certify that you bought the Registrable Securities in the ordinary course of business, and at the time of the
purchase of the Registrable Securities to be resold, you had no agreements or understandings, directly or indirectly, with any person to distribute the Registrable Securities? 

Yes                 No     
        
 Note: If no, the Commission’s staff has indicated that you
should be identified as an underwriter in the Registration Statement. 
 5. Beneficial Ownership of Other Securities of the
Company Owned by the Selling Shareholder. 
 Except as set forth below in this Item 5, the undersigned is not the
beneficial or registered owner of any securities of the Company other than the Registrable Securities listed above in Item 3. 
 Type and amount of other securities beneficially owned: 
  

 
 6. Relationships with the Company: 

Except as set forth below, neither the undersigned nor any of its affiliates, officers, directors or principal equity holders (owners
of 5% of more of the equity securities of the undersigned) has held any position or office or has had any other material relationship with the Company (or its predecessors or affiliates) during the past three years. 

State any exceptions here: 

  
 22 

 7. Plan of Distribution: 

The undersigned has reviewed the form of Plan of Distribution attached as Annex A to the Registration
Rights Agreement, and hereby confirms that, except as set forth below, the information contained therein regarding the undersigned and its plan of distribution is correct and complete. 

State any exceptions here: 
  

 
 *********** 

By signing below, the undersigned consents to the disclosure of the information contained herein in its answers to Items
(I) through (7) above and the inclusion of such information in the Resale Registration Statement and the Prospectus. The undersigned understands that such information will be relied upon by the Company in connection with the preparation or
amendment of any such Registration Statement and the Prospectus. 
 By signing below, the undersigned
acknowledges that it understands its obligation to comply, and agrees that it will comply, with the provisions of the Exchange Act and the rules and regulations thereunder, particularly Regulation M in connection with any offering of Registrable
Securities pursuant to the Resale Registration Statement. The undersigned also acknowledges that it understands that the answers to this Questionnaire are furnished for use in connection with Registration Statements filed pursuant to the
Registration Rights Agreement and any amendments or supplements thereto filed with the Commission pursuant to the Securities Act. 
 I confirm
that, to the best of my knowledge and belief, the foregoing statements (including without limitation the answers to this Questionnaire) are correct. 
 IN WITNESS WHEREOF the undersigned, by authority duly given, has caused this Questionnaire to be executed and delivered either in person or by its duly authorized agent. 

 

									
	 Dated:
	 		 		 		 	
					
	 Beneficial Owner:
	 		 		 		 	
	 By:
	 		 	 	 		 	 
	  
	 		 		 		 	
	 Name:
	 		 		 		 	
	 Title:
	 		 		 		 	

  
 23 

 Annex C 
 Registration Rights Agreement by and among the Company and certain investors in connection with the Securities Purchase Agreement dated October 23, 2012 by and among the Company and certain
investors. 

  
 24Stipulation of Settlement

 Exhibit 10.1 
 IN THE UNITED STATES DISTRICT COURT 
 FOR THE DISTRICT OF DELAWARE

  

					
	RICHARD SMUTEK, derivatively on behalf of REVLON, INC.,	  	:	  	
		  	:	  	
		  	:	  	
	 Plaintiff,
	  	:	  	
		  	:	  	
	 v.
	  	:	  	No. 10-392-GMS
		  	:	  	
	RONALD O. PERELMAN, DAVID L. KENNEDY, ALAN T. ENNIS, ALAN S. BERNIKOW, PAUL J. BOHAN, MEYER FELDBERG, ANN D. JORDAN, DEBRA L. LEE, TAMARA MELLON, BARRY F. SCHWARTZ,
KATHI P. SEIFERT, and MACANDREWS & FORBES HOLDINGS INC.,	  	:	  	
	  	:	  	
	  	:	  	
	  	:	  	
	  	:	  	
	  	:	  	
	  	:	  	
		  	:	  	
	 Defendants,
	  	:	  	
		  	:	  	
	 and
	  	:	  	
		  	:	  	
	REVLON, INC.,	  	:	  	
		  	:	  	
	 Nominal Defendant.
	  	:	  	
		  	:	  	

 STIPULATION OF SETTLEMENT 

This Stipulation of Settlement (with the exhibits hereto, this “Stipulation”) is made and entered into by and among the
following parties: (i) Richard Smutek, derivatively in the right of and for the benefit of nominal defendant Revlon, Inc., by and through his counsel of record (“Plaintiff”), (ii) nominal defendant Revlon, Inc.
(“Revlon” or the “Company”) and (iii) Ronald O. Perelman, Barry F. Schwartz, David L. Kennedy, Alan T. Ennis, Alan S. Bernikow, Paul J. Bohan, Meyer Feldberg, Ann D. Jordan, Debra L. Lee, Tamara Mellon, Kathi P. Seifert, and
MacAndrews & Forbes Holdings Inc. (“Defendants”), by and through their respective 

 
counsel of record. The parties have entered into this Stipulation in order to fully, finally and forever resolve, discharge and settle the Settled Claims (as defined in Paragraph 7 below), upon
and subject to the terms and conditions hereof. 
 BACKGROUND 

WHEREAS, on April 20, 2009, Revlon announced that MacAndrews & Forbes Holdings Inc. (“MacAndrews &
Forbes”) proposed a merger transaction (the “Proposal”); 
 WHEREAS, on April 24, 2009, plaintiff
Vern Mercier filed a verified complaint against Revlon, Defendants and now-former Revlon director Kenneth L. Wolfe (“Wolfe”) on behalf of a putative class of Revlon’s stockholders in the Delaware Court of Chancery (the “Delaware
Chancery Court”) captioned Mercier v. Perelman, et al., C.A. No. 4532-VCL (Del. Ch.) (the “Mercier Action”); 
 WHEREAS, on May 1, 2009, plaintiff Arthur Jurkowitz filed a verified complaint against Revlon, Defendants and Wolfe on behalf of a putative class of Revlon’s stockholders in the Delaware
Chancery Court, captioned Jurkowitz v. Perelman, et al., C.A. No. 4557-VCL (Del. Ch.) (the “Jurkowitz Action”); 
 WHEREAS, on May 4, 2009, plaintiff Stanley S. Sullivan filed a complaint against Revlon, Defendants and Wolfe on behalf of a putative class of Revlon’s stockholders in the New York State
Supreme Court, captioned Sullivan v. Perelman, et al., No. 650257/2009 (N.Y. Sup. Ct.) (the “Sullivan Action”); 
 WHEREAS, Wolfe was later dismissed by plaintiff Stanley S. Sullivan from the Sullivan Action; 
 WHEREAS, on May 5, 2009, plaintiff Suri Lefkowitz filed a verified complaint against Revlon, Defendants and Wolfe on behalf of a putative class of Revlon’s stockholders in the Delaware
Chancery Court, captioned Lefkowitz v. Revlon, Inc., et al., C.A. No. 4563-VCL (Del. Ch.) (the “Lefkowitz Action”); 

  
 2 

 WHEREAS, on May 12, 2009, plaintiff T. Walter Heiser filed a verified complaint
against Revlon, Defendants and Wolfe on behalf of a putative class of Revlon’s stockholders in the Delaware Chancery Court, captioned Heiser v. Revlon, Inc., et al., C.A. No. 4578-VCL (Del. Ch.) (the “Heiser
Action”); 
 WHEREAS, the Mercier Action, Jurkowitz Action, Lefkowitz Action and
Heiser Action challenged the Proposal (collectively, the “Initial Delaware Actions”); 
 WHEREAS, the
Sullivan Action also challenged the Proposal; 
 WHEREAS, on June 24, 2009, the Initial Delaware Actions were
consolidated under the caption In re Revlon, Inc. Shareholders Litigation, C.A. No. 4578-VCL (Del. Ch.); 

WHEREAS, on August 10, 2009, Revlon launched a voluntary exchange offer (the “Exchange Offer”); 

WHEREAS, following amendments to the terms of the Exchange Offer, the final date on which tenders of Revlon Class A Common
Stock could be made was on October 7, 2009; 
 WHEREAS, on October 8, 2009, the Company consummated the
Exchange Offer; 
 WHEREAS, pursuant to the Exchange Offer, Revlon issued to stockholders who elected to tender shares
into the Exchange Offer 9,336,905 shares of its newly issued Series A Preferred Stock in exchange for the same number of shares of Revlon Class A Common Stock tendered in the Exchange Offer; 

WHEREAS, on October 29, 2009, Revlon announced its third quarter results for the fiscal quarter ended September 30,
2009; 

  
 3 

 WHEREAS, on December 21, 2009, plaintiff Edward S. Gutman filed a verified
complaint against Defendants and Wolfe on behalf of a putative class of Revlon’s stockholders in the Delaware Chancery Court captioned Gutman v. Perelman, et al., C.A. No. 5158-VCL (Del. Ch.) (the “Gutman Action”);

 WHEREAS, on December 21, 2009, plaintiff Lawrence Corneck filed a verified complaint against Defendants and Wolfe
on behalf of a putative class of Revlon’s stockholders in the Delaware Chancery Court captioned Corneck v. Perelman, et al., C.A. No. 5160-VCL (Del. Ch.) (the “Corneck Action”); 

WHEREAS, the Gutman Action and the Corneck Action alleged breach of fiduciary duty claims in connection with the
Exchange Offer and alleged that information regarding the Company’s third quarter 2009 results should have been disclosed in the Exchange Offer materials; 
 WHEREAS, on December 24, 2009, an amended complaint was filed in the Sullivan Action on behalf of stockholders that participated in the Exchange Offer, alleging, among other things,
that information regarding the Company’s financial results for the third quarter 2009 should have been disclosed in the Exchange Offer materials; 
 WHEREAS, on December 31, 2009, plaintiff John Garofalo filed a putative class action complaint on behalf of stockholders that participated in the Exchange Offer against Defendants and
Revlon1 in the United States District Court for the
District of Delaware (the “Delaware District Court” or the “Court”) captioned Garofalo v. Revlon, Inc., et al., C.A. No. 1:09-cv-01008-GMS (D. Del.) (the “Garofalo Action”), alleging federal and state
law claims in 
  

	1 	 Wolfe was initially named as a defendant in the Garofalo Action, but was later dismissed.

  
 4 

 
connection with the Exchange Offer and alleging that information regarding the Company’s financial results for the third quarter 2009 should have been disclosed in the Exchange Offer
materials; 
 WHEREAS, on January 6, 2010, an amended complaint was filed by plaintiffs in the Initial Delaware
Actions against Revlon, Defendants and Wolfe, making allegations similar to those contained in the amended Sullivan Action complaint; 
 WHEREAS, on January 15, 2010, the Delaware Chancery Court consolidated the Gutman Action and Corneck Action with the previously consolidated Initial Delaware Actions (the Initial
Delaware Actions, Gutman Action and Corneck Action, collectively, are hereafter referred to as the “Consolidated Action”); 
 WHEREAS, on May 11, 2010, Plaintiff, on behalf of Revlon, filed a derivative complaint against Defendants and current Revlon director Richard J. Santagati (“Santagati”) in the
Delaware District Court captioned Smutek v. Perelman, et al., No. 1:10-CV-00392-GMS (D. Del.) (the “Smutek Action”), in connection with the Exchange Offer and the alleged failure to disclose information in the Exchange
Offer materials regarding the Company’s financial results for the third quarter 2009; 
 WHEREAS, Revlon was named
as a nominal defendant in the Smutek Action; 
 WHEREAS, Plaintiff later filed a voluntary dismissal of Santagati
from the Smutek Action; 
 WHEREAS, the complaint in the Smutek Action alleged, among other things, that
Defendants’ alleged misconduct with respect to the Exchange Offer exposed Revlon to litigation such as the Garofalo Action, Gutman Action and Corneck Action, and potential damages therefrom; 

  
 5 

 WHEREAS, on May 25, 2010, an amended complaint was filed in the Consolidated
Action alleging breach of fiduciary duty claims in connection with the Exchange Offer and claiming that information regarding the Company’s financial results for the third quarter 2009 should have been disclosed in the Exchange Offer materials;

 WHEREAS, on August 16, 2010, Defendants and nominal defendant Revlon moved to dismiss the complaint in the
Smutek Action; 
 WHEREAS, the motions to dismiss the complaint in the Smutek Action are fully briefed and
currently pending; and 
 WHEREAS, on August 10, 2012, the parties to all the actions identified above (the
“Actions”) reached a comprehensive agreement in principle providing for the settlement of the Actions on the terms and conditions set forth in a stipulation to be filed with the Delaware Chancery Court (the “Consolidated Action
Settlement”) and in this Stipulation. 
 NOW, THEREFORE, IT IS HEREBY STIPULATED AND AGREED, by and among Plaintiff
(derivatively in the right of and for the benefit of the Company), the Company and Defendants, that, subject to approval of the Court pursuant to Federal Rule of Civil Procedure 23.1(c), the Smutek Action and the Settled Claims (as defined in
Paragraph 7 below) shall be finally and fully compromised, settled and released, upon and subject to the terms and conditions of this Stipulation as follows (the “Settlement”): 

THE SETTLEMENT 
 SETTLEMENT CONSIDERATION AND BENEFIT 
 1. Settlement
Consideration and Benefit. In consideration for the full settlement and dismissal of the Smutek Action with prejudice, and for the releases provided for below, Defendants will pay Revlon $400,000 (the “Settlement Payment”)
within ten (10) business days of the Effective Date (as defined in Paragraph 11 below). 

  
 6 

 REASONS FOR THE SETTLEMENT 

2. Each of the Defendants and nominal defendant Revlon has denied, and continues to deny, all charges of wrongdoing or liability against
them as related to the subject matters alleged in the Actions and believe they would have prevailed on their respective motions to dismiss the Smutek Action with prejudice and, in any event, would have prevailed on the merits. Defendants and
nominal defendant Revlon expressly maintain that they diligently and scrupulously have complied with any and all fiduciary duties and other legal obligations. Defendants and nominal defendant Revlon also have denied and continue to deny, among other
things, the allegations that Plaintiff (or Revlon) has suffered damage or that Plaintiff (or Revlon) was harmed by the conduct alleged in the Smutek Action. Nonetheless, Defendants and nominal defendant Revlon have determined that it is
desirable and beneficial to Revlon and Revlon’s stockholders that the Smutek Action be fully and finally settled in the manner and upon the terms and conditions set forth in this Stipulation. Defendants and nominal defendant Revlon have
taken into account the burden, expense, inconvenience, distraction, delay, uncertainty and risks inherent in any litigation, especially in complex cases like the Smutek Action, and believe the Settlement is preferable to continued litigation.

 3. Plaintiff’s counsel has determined that the Settlement set forth in this Stipulation is in the best interests of
Revlon and its stockholders, and will provide Revlon and its stockholders with substantial benefits. Although Plaintiff believes that the claims asserted in the Smutek Action have merit, Plaintiff’s counsel recognizes uncertainty and
risks inherent in any litigation, especially in a complex matter such as the Smutek Action. Plaintiff’s counsel also is 

  
 7 

 
mindful of the inherent problems of proof and of the potential defenses to the claims asserted in the Smutek Action, including those set forth in Revlon’s (as a nominal defendant) and
Defendants’ respective memoranda of law in support of their respective motions to dismiss. Further, in determining that the Settlement set forth in this Stipulation is in the best interests of Revlon and its stockholders, Plaintiff’s
counsel has taken into account their conversations with counsel for the other plaintiffs in the Actions as part of the settlement negotiations in the related class action lawsuits pending before the Court and in the Delaware Chancery Court and New
York State Supreme Court. 
 NOTICE, ORDER, SETTLEMENT HEARING AND APPROVAL 

4. As soon as practicable after this Stipulation has been executed, the parties shall submit this Stipulation to the Court and move the
Court for entry of an order in substantially the form of Exhibit A attached hereto, requesting, among other things, preliminary approval of the Settlement set forth in this Stipulation and approval of the form and manner of notice. The parties shall
request that after notice is given, the Court hold a hearing (the “Settlement Hearing”) and approve the Settlement of the Smutek Action as set forth herein and issue an order and final judgment (the “Order and Final
Judgment”) in substantially the form of Exhibit B attached hereto. 
 5. Notice of the proposed Settlement shall be
provided by Revlon. Revlon will publish a notice of the Settlement in substantially the form attached hereto as Exhibit A-1 (the “Notice”) on the Company’s website. Revlon will also file with the United States Securities and Exchange
Commission a Form 8-K attaching a copy of the Notice. Revlon shall also cause an abbreviated form of the Notice in substantially the form attached hereto as Exhibit A-2 to be published in Investor’s Business Daily (the “Summary
Notice”). All costs of such Notice and 

  
 8 

 
Summary Notice, and any other notice required by the Court, shall be paid by Revlon. Prior to the Settlement Hearing, Revlon’s counsel shall file with the Court an appropriate affidavit or
declaration with respect to providing the Notice and the Summary Notice. 
 RELEASES 

6. Upon Final Approval (as defined in Paragraph 11 below) of the Settlement, Plaintiff’s derivative claims asserted in the Smutek
Action against Defendants and nominal defendant Revlon shall be dismissed on the merits with prejudice, without costs, except as provided herein. 
 7. The Order and Final Judgment shall, among other things, provide for the full and complete dismissal of the Smutek Action with prejudice, and the settlement and release of, and a permanent
injunction barring, any claims, demands, rights, actions, causes of action, liabilities, damages, losses, obligations, judgments, duties, suits, costs, expenses, matters and issues, known or unknown, contingent or absolute, suspected or unsuspected,
disclosed or undisclosed, liquidated or unliquidated, matured or unmatured, accrued or unaccrued, apparent or unapparent, that have been, could have been, or in the future can or might be asserted in any court, tribunal or proceeding (including, but
not limited to, any claims arising under federal, state, foreign or common law, including the federal securities laws and any state disclosure law), derivatively on behalf of Revlon, or by Revlon, or by or on behalf of Plaintiff (as an individual or
as a class representative), whether individual, direct, class, derivative (on behalf of Revlon or otherwise), representative, legal, equitable, or any other type or in any other capacity (collectively, the “Releasing Persons”) against
Defendants, Wolfe, Santagati, nominal defendant Revlon or any of their respective families, parent entities, controlling persons, associates, affiliates or subsidiaries and each and all of their respective past or present officers, directors,
stockholders, principals, 

  
 9 

 
representatives, employees, attorneys, financial or investment advisors, consultants, accountants, investment bankers, commercial bankers, entities providing fairness opinions, underwriters,
advisors or agents, heirs, executors, trustees, general or limited partners or partnerships, limited liability companies, members, joint ventures, personal or legal representatives, estates, administrators, predecessors, successors and assigns
(collectively, the “Released Persons”) which the Releasing Persons ever had, now have, or may have by reason of, arising out of, relating to, or in connection with the acts, events, facts, matters, transactions, occurrences, statements, or
representations, or any other matter whatsoever set forth in or otherwise related, directly or indirectly, to the allegations in the Smutek Action, the complaint in the Smutek Action, the Proposal, the Exchange Offer and other
transactions contemplated therein, disclosures made in connection therewith (including the adequacy and completeness of such disclosures), any disclosure of the Company’s actual, projected or estimated financial results for the third quarter
2009, or any other disclosure made by Revlon from the date of the Proposal through the date Revlon announced its financial results for the third quarter 2009 (including the adequacy and completeness of such disclosures) (the “Settled
Claims”); provided, however, that the Settled Claims shall not release any claims to enforce the Settlement. 
 8.
The Order and Final Judgment shall bar and release any and all claims, known or unknown, for damages, injunctive relief, or any other remedies against Plaintiff, his attorneys or agents based upon, arising from, or related to prosecution and/or
settlement of the Smutek Action. 
 9. The Order and Final Judgment shall provide that the releases in Paragraphs 7 and 8
above shall extend to all claims that Releasing Persons do not know or suspect to exist at the time of the release of the Settled Claims, which, if known, might have affected the Releasing 

  
 10 

 
Persons’ decisions to enter into the releases or the Settlement. Additionally, Plaintiff and the Company acknowledge that they may discover facts in addition to or different from those now
known or believed to be true with respect to the Settled Claims, but that it is the intention of the Company and Plaintiff to completely, fully, finally and forever compromise, settle, release, discharge, extinguish, and dismiss any and all Settled
Claims, known or unknown, suspected or unsuspected, contingent or absolute, accrued or unaccrued, apparent or unapparent, which now exist, or heretofore existed, or may hereafter exist, and without regard to the subsequent discovery of additional or
different facts. Plaintiff and the Company acknowledge that “Unknown Claims” are expressly included in the definition of “Settled Claims,” and that such inclusion was expressly bargained for and was a key element of the
Settlement and was relied upon by each and all of the Defendants and the Company in entering into this Stipulation. “Unknown Claims” means any claim that Plaintiff or the Company does not know or suspect exists in his or its favor at the
time of the release of the Settled Claims as against the Released Persons, including, without limitation, those which, if known, might have affected the decision to enter into the Settlement. With respect to any of the Settled Claims, the parties
stipulate and agree that upon Final Approval (as defined in Paragraph 11 below) of the Settlement, the Company and Plaintiff shall be deemed to have, and by operation of the Order and Final Judgment by the Court shall have, expressly waived,
relinquished and released any and all provisions, rights and benefits conferred by or under Cal. Civ. Code § 1542 or any law of the United States or any state of the United States or territory of the United States, or principle of common law,
which is similar, comparable or equivalent to Cal. Civ. Code § 1542, which provides: 

  
 11 

 A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT
TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR. 
 10. Plaintiff and the Company acknowledge that the foregoing waiver was separately bargained for, is an integral element of the Settlement, and was relied upon by each and all of the Defendants and the
Company in entering into the Settlement. 
 CONDITIONS OF SETTLEMENT 

11. The Settlement is conditioned upon, and effective upon, the fulfillment of each of the following (the “Effective Date”):

 (i) the Settlement becoming final (“Final Approval”) upon the completion of: (a) negotiation and execution of
this Stipulation and any related documentation; (b) approval of the Settlement, entry of the Order and Final Judgment, and dismissal with prejudice of the Smutek Action in substantially the form attached hereto as Exhibit B, without the
award of any damages, costs, or fees except as specifically provided in this Stipulation and approved by the Court; and (c) such Order and Final Judgment is either finally affirmed on appeal, or is not subject to appeal (or further appeal) by
lapse of time or otherwise; 
 (ii) negotiation and execution of the settlement stipulation in the Consolidated Action and any
related documentation, approval of the Consolidated Action Settlement by the Delaware Chancery Court, entry of an order and final judgment in the Consolidated Action, which order and final judgment is either finally affirmed on appeal, or is not
subject to appeal (or further appeal) by lapse of time or otherwise, and dismissal with prejudice of the Consolidated Action; and 

  
 12 

 (iii) dismissal with prejudice of the Sullivan Action and Garofalo Action,
which dismissals are finally affirmed on appeal, or are not subject to appeal (or further appeal), by lapse of time or otherwise. 
 12. Each of the Defendants and the Company shall have the right to withdraw from the Settlement in the event that any claims related to the Settled Claims are commenced or prosecuted against any of the
Released Persons (as defined in Paragraph 7 above) in any court prior to Final Approval of the Settlement and (following a motion by Defendants or the Company) such claims are not dismissed with prejudice or stayed in contemplation of dismissal. In
the event such claims are commenced, the parties agree to cooperate and use their reasonable best efforts to secure the dismissal (or a stay in contemplation of dismissal following Final Approval of the Settlement) thereof. 

13. This Stipulation shall be null and void and of no force and effect if the Settlement does not obtain Final Approval, as defined in
Paragraph 11 above, for any reason. In any such event, this Stipulation shall not be deemed to prejudice in any way the respective positions of the parties with respect to the Actions or to entitle any party to the recovery of costs and expenses
incurred in connection with the intended implementation of the Settlement; provided, however, that Revlon shall be responsible for paying the costs of providing the Notice and the Summary Notice regardless of whether the Settlement is
approved. 
 14. In the event that the proposed Settlement is rendered null and void for any reason, the existence of or the
provisions contained in this Stipulation shall not be deemed to prejudice in any way the respective positions of Plaintiff, Revlon or Defendants with respect to the Actions; nor shall they be deemed a presumption, concession, or admission by
Plaintiff, Revlon or any of the Defendants of any fault, liability, or wrongdoing as to any facts, claims, or defenses that have 

  
 13 

 
been or might have been alleged or asserted in the Actions, or any other action or proceeding or each thereof; nor shall they be interpreted, construed, deemed, invoked, offered, or received in
evidence or otherwise used by any person in the Actions, or any other action or proceeding. 
 15. In the event that
(i) the Court declines, in any material respect (except for a disallowance or modification of the fees and/or expenses sought by Plaintiff’s counsel), to enter the Order and Final Judgment provided for in this Stipulation and any one of
the parties hereto fails to consent to the entry of another form of order in lieu thereof; (ii) the Court disapproves the Settlement proposed in this Stipulation, including any amendments thereto agreed upon by all of the parties;
(iii) the Court approves the Settlement proposed in this Stipulation or any amendment thereto approved by all of the parties, but such approval is reversed or substantially modified on appeal (except reversal or modification related only to the
issue of Plaintiff’s counsel’s attorneys’ fees and/or the reimbursement of expenses) and such reversal or modification becomes final by a lapse of time or otherwise; then, in any of such events, this Stipulation, the Settlement
proposed in this Stipulation (including any amendments thereof), and any actions taken or to be taken with respect to the Settlement proposed in this Stipulation and the Order and Final Judgment to be entered shall be of no further force or effect
and shall be null and void, and shall be without prejudice to any of the parties hereto, who shall be restored in all respects to their respective positions existing prior to the execution of this Stipulation. For purposes of this provision, a
disallowance or modification by the Court of the attorneys’ fees and/or expenses sought by Plaintiff’s counsel shall not be deemed an amendment, modification or disapproval of the Settlement or the Order and Final Judgment. 

16. The obligations of Defendants and Revlon under this Stipulation are conditioned upon satisfaction of the conditions set forth in
Paragraph 11 above. Notwithstanding anything in 

  
 14 

 
this Stipulation to the contrary, the effectiveness of the releases set forth in Paragraphs 6 through 10 above, and the other obligations of Plaintiff, Defendants and Revlon under the Settlement
(except with respect to the payment of attorneys’ fees and expenses), shall not be conditioned upon or subject to the resolution of any appeal from the Court’s entry of the Order and Final Judgment, if such appeal relates solely to the
issue of Plaintiff’s counsel’s application for an award of attorneys’ fees and/or the reimbursement of expenses. 

17. Pending final determination of whether the Settlement should be approved, Plaintiff is barred and enjoined from commencing,
prosecuting, instigating or in any way participating in the commencement or prosecution of any action asserting any Settled Claims, either directly, representatively, derivatively, or in any other capacity, against Defendants, the Company or any of
the Released Persons. 
 18. If any action that would be barred by the releases contemplated by the Settlement is commenced
against any of the parties to this Stipulation in any court prior to the Settlement being fully approved by Court, the parties will collectively in good faith seek the dismissal or stay of such action. If any such motion to dismiss such action is
not granted or if any such motion to stay such action is not granted in contemplation of dismissal after approval of the Settlement contemplated hereby, any Defendant or Revlon may at his, her or its sole option, prior to the Settlement Hearing
conducted by the Court, withdraw from the Settlement. In such a circumstance, the Settlement will be null and void. 

AWARD OF ATTORNEYS’ FEES AND REIMBURSEMENT OF EXPENSES 

19. Subject to the terms and conditions of this Stipulation, approval of the Settlement, entry of the Order and Final Judgment, Final
Approval of the Settlement and final dismissal of the Actions, and after all of the foregoing events are no longer subject to appeal (or further 

  
 15 

 
appeal) by lapse of time or otherwise, Plaintiff’s counsel may receive from the Settlement Payment such amount of attorneys’ fees and expenses that the Court deems appropriate.
Plaintiff’s counsel will make an application to the Court for attorneys’ fees and expenses. Defendants and Revlon reserve the right to oppose the award of attorneys’ fees and expenses if Plaintiff’s counsel’s application
exceeds 30% of the Settlement Payment. No other application for attorneys’ fees and expenses shall be filed, and counsel for Plaintiff expressly waives, in this Stipulation, any right to seek any award of such fees and expenses except as set
forth in this Paragraph 19. Payment of attorneys’ fees and expenses to Plaintiff’s counsel is expressly contingent upon all of the conditions in Paragraph 11 above being met. Plaintiff’s counsel may seek a compensatory award for
Plaintiff of up to $1,000 to be paid from any award of attorneys’ fees and expenses that the Court may award. Payment of attorneys’ fees and expenses, and any compensatory award, will be made within ten (10) business days of the
Effective Date. Except as provided in this Stipulation, Defendants and Revlon shall bear no other expenses, costs, damages or fees incurred by Plaintiff or any of his attorneys, experts, advisors, agents, or representatives. Defendants and Revlon
shall have no responsibility for, or liability with respect to, the allocation among any counsel for Plaintiff of any award of attorneys’ fees and expenses that the Court may make, and Defendants and Revlon take no position with respect to such
matters. 
 20. Any failure of the Court to approve a request for attorneys’ fees and expenses in whole or in part shall
not affect the remainder of the Settlement. 
 MISCELLANEOUS PROVISIONS 

21. No Admission. The provisions contained in this Stipulation and the Settlement Payment described in Paragraph 1 above
shall not be deemed a presumption, concession, or 

  
 16 

 
admission by any of the Defendants or Revlon in the Actions of any fault, liability, or wrongdoing as to any facts or claims alleged or asserted in the Actions, or any other actions or
proceedings, and shall not be interpreted, construed, deemed, invoked, offered, or received in evidence or otherwise used by any person in the Actions, or in any other action or proceeding, whether civil, criminal, or administrative, except that:
(i) this Stipulation and/or its exhibits may be filed in any litigation or judicial proceeding to enforce the terms of the Settlement; and (ii) Revlon and/or Defendants may file, cite and/or refer to this Stipulation and/or the Order and
Final Judgment in related litigation as evidence of the Settlement, or in any action that may be brought against them in order to support a defense or counterclaim based on principles of res judicata, collateral estoppel, release, good faith
settlement, judgment bar or reduction, or any other theory of claim preclusion or issue preclusion or similar defense or counterclaim. 
 22. Representation and Warranty. Plaintiff and his counsel represent and warrant that (i) Plaintiff is a Revlon Class A Common stockholder and (ii) none of Plaintiff’s
claims or causes of action, or any claims Plaintiff could have alleged, have been assigned, encumbered, or in any manner transferred in whole or in part. 
 23. Stay of Litigation. Pending Final Approval of the Settlement, the parties agree to stay proceedings in the Smutek Action and not to initiate any other proceedings other than those
incident to the Settlement itself. 
 24. Best Efforts. The parties and their attorneys agree to cooperate fully
with one another in seeking the Court’s approval of this Stipulation and the Settlement, and to use their best efforts to effect, take, or cause to be taken all actions, and to do, or cause to be done, all things reasonably necessary, proper,
or advisable under applicable laws, regulations, and agreements to consummate and make effective, as promptly as practicable, this Stipulation and 

  
 17 

 
the Settlement provided for hereunder (including, but not limited to, using their best efforts to resolve any objections raised to the Settlement) and the dismissal of the Smutek Action
with prejudice and without costs, fees or expenses to any party (except as provided for by Paragraph 19 above). 
 25.
Extensions of Time. The parties may agree to reasonable extensions of time in order to carry out any provisions of this Stipulation. 
 26. Entire Agreement; Amendments. This Stipulation constitutes the entire agreement among the parties with respect to the subject matter hereof, and may be modified or amended only by a
writing signed by the signatories hereto. 
 27. Counterparts. This Stipulation may be executed in multiple
counterparts by any of the signatories hereto, including by facsimile or electronic mail, and as so executed shall constitute one agreement. 
 28. Governing Law. This Stipulation and the Settlement contemplated by it shall be governed by, and construed in accordance with, the laws of the State of Delaware, without regard to
conflict of laws principles. 
 29. Successors and Assigns. This Stipulation, and all rights and powers granted
hereby, shall be binding upon and inure to the benefit of the parties and their respective agents, executors, heirs, successors, affiliates and assigns. 
 30. Authority. The undersigned attorneys represent and warrant that they have the authority from their client(s) to enter into this Stipulation and bind their client(s) thereto. 

  
 18 

			
	 RICHARDS, LAYTON & FINGER, P.A.
  

/s/ Raymond J. DiCamillo
	    	 LAW OFFICE OF JOHN V. WORK, P.A.
  

/s/ John V. Work

	 Raymond J. DiCamillo (#3188)

Kevin M. Gallagher (#5337)
 920 North King
Street
 Wilmington, Delaware 19801

(302) 651-7700
  
 GIBSON, DUNN & CRUTCHER LLP
  
 /s/ Marshall R. King
	    	 John V. Work (#4666)
 800 N.
King Street, Suite 303
 Wilmington, Delaware 19801
 (302) 540-8747
  
 Counsel
for Plaintiff in the Smutek Action

	 Lawrence Zweifach
 Marshall R.
King
 200 Park Avenue, 47th Floor
 New
York, New York 10166
 (212) 351-4000
  

Counsel for Defendants Bernikow, Bohan, Feldberg, Jordan, Lee, Mellon, and Seifert
	    	
		
	 SKADDEN, ARPS, SLATE, MEAGHER & FLOM LLP
  

/s/ Thomas J. Allingham II
	    	 VIANALE & VIANALE LLP
  

/s/ Kenneth J. Vianale

	 Thomas J. Allingham II (#476)

Alyssa S. O’Connell (#4351)
 One Rodney
Square
 P.O. Box 636
 Wilmington,
Delaware 19899
 (302) 651-3000
  

Counsel for Defendants Ennis, Kennedy, and Revlon, Inc.
	    	 Kenneth J. Vianale
 2499 Glades
Road, Suite 112
 Boca Raton, Florida 33431
 (561) 392-4750
  
 Counsel
for Plaintiff in the Smutek Action

  
 19 

			
	 BOUCHARD MARGULES & FRIEDLANDER, P.A.
  

/s/ Andre G. Bouchard
	    	 SARRAF GENTILE, LLP
  

/s/ Ronen Sarraf

	 Andre G. Bouchard (#2504)

Jamie L. Brown (#5551)
 222 Delaware Avenue,
Suite 1400
 Wilmington, Delaware 19801

(302) 573-3500
  
 WACHTELL, LIPTON, ROSEN & KATZ
  
 /s/ William Savitt
	    	 Ronen Sarraf
 450 Seventh
Avenue
 New York, New York 10123
 (212)
868-3610
  
 Counsel for Plaintiff in the Smutek
Action

	 William Savitt
 51 West 52nd
Street
 New York, New York 10019
 (212)
403-1000
  
 Counsel for Defendants Perelman, Schwartz, and MacAndrews
& Forbes Holdings Inc.
	    	

 Dated: October 8, 2012 

  
 20 

 EXHIBIT A 
 IN THE UNITED STATES DISTRICT COURT 
 FOR THE DISTRICT OF DELAWARE

  

							
	 RICHARD SMUTEK, derivatively on behalf of

REVLON, INC.,
  

                   
    Plaintiff,
  

                   
    v.
  
 RONALD O. PERELMAN, DAVID L. KENNEDY, ALAN T.
ENNIS, ALAN S. BERNIKOW, PAUL J. BOHAN, MEYER FELDBERG, ANN D. JORDAN, DEBRA L. LEE, TAMARA MELLON, BARRY F. SCHWARTZ, KATHI P. SEIFERT, and MACANDREWS & FORBES HOLDINGS INC.,

 

                   
    Defendants,
  

        and

 
 REVLON, INC.,

 

                   
    Nominal Defendant.
	  	 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
 
  
  
  
  
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No. 10-392-GMS

 ORDER PRELIMINARILY APPROVING 

SETTLEMENT AND PROVIDING FOR NOTICE 
 WHEREAS, the above-captioned action is pending before the Court (the “Smutek Action”); 
 WHEREAS, the parties (the “Parties”) have made an application, pursuant to Rule 23.1(c) of the Federal Rules of Civil Procedure, for an order: (i) preliminarily approving the
settlement (the “Settlement”) of the Smutek Action, in accordance with a Stipulation of Settlement dated October 8, 2012 (with the exhibits attached thereto, the “Stipulation”) and dismissing the Smutek Action
with prejudice, upon the terms and conditions set forth therein; (ii) approving the form and content of the Notice of Pendency of Derivative Action, Proposed 

 
Settlement of Derivative Action, Settlement Hearing and Right to Appear (the “Notice”); (iii) approving the form and content of the Summary Notice of Pendency of Derivative Action,
Proposed Settlement of Derivative Action and Settlement Hearing (the “Summary Notice”); and (iv) setting a hearing for final approval of the Settlement (the “Settlement Hearing”); and 

WHEREAS, the Court has read and considered the Stipulation, the Notice, and the Summary Notice. 

NOW, THEREFORE, IT IS HEREBY ORDERED: 
 1. Pursuant to Federal Rule of Civil Procedure 23.1(c) and by this Order, the Court hereby preliminarily approves the Stipulation and the Settlement set forth therein, including the terms and conditions
for settlement and dismissal with prejudice of the Smutek Action, subject to further consideration at the Settlement Hearing described below. 
 2. The Settlement Hearing shall be held before the Court on             , 2012, at
            .m., at the United States District Court for the District of Delaware, J. Caleb Boggs Federal Building, 844 N. King Street, Courtroom 2A, Wilmington, Delaware 19801, to
determine: (i) whether the proposed Settlement of the Smutek Action on the terms and conditions provided for in the Stipulation is fair, reasonable, adequate and in the best interests of Revlon, Inc. (“Revlon”) and Current
Revlon Stockholders (as defined in Paragraph 7 below), and should be approved by the Court; (ii) whether plaintiff Richard Smutek’s (“Plaintiff”) counsel’s application for attorneys’ fees and expenses as well as any
compensatory award for Plaintiff should be granted; and (iii) whether an Order and Final Judgment should be entered pursuant to the Stipulation, approving the proposed Settlement and dismissing the Smutek Action. 

3. The Court may adjourn the date of the Settlement Hearing or any adjournment thereof, including the consideration of Plaintiff’s
counsel’s application for attorneys’ fees and 

  
 2 

 
expenses as well as any compensatory award for Plaintiff, without further notice of any kind to Current Revlon Stockholders (as defined in Paragraph 7 below) other than oral announcement at the
Settlement Hearing or any adjournment thereof. 
 4. The Court reserves the right to approve the proposed Settlement at or after
the Settlement Hearing with such modification(s) as may be consented to by the Parties to the Stipulation without further notice to Current Revlon Stockholders (as defined in Paragraph 7 below). 

5. The Court approves, in form and content, the Notice and the Summary Notice attached as Exhibit A-1 and Exhibit A-2, respectively, to
the Stipulation and hereto, and finds that posting the Notice and publishing the Summary Notice in substantially the manner and form set forth in Paragraph 6 of this Order and filing with the United States Securities and Exchange Commission (the
“SEC”) a Form 8-K attaching a copy of the Notice meets the requirements of Federal Rule of Civil Procedure 23.1(c), due process, and is the best notice practicable under the circumstances and shall constitute due and sufficient notice to
all persons entitled thereto. 
 6. Counsel for the Parties are hereby ordered to cooperate to supervise and administer the
notice procedure as more fully set forth below: 
 (i) within twenty (20) business days of the entry of this Order, Revlon
will cause the Summary Notice to be published in Investor’s Business Daily, in substantially the form attached to the Stipulation and hereto as Exhibit A-2; 
 (ii) within twenty (20) business days of the entry of this Order, Revlon will post the Notice in substantially the form attached to the Stipulation and hereto as Exhibit A-1 on its website at
www.revlon.com on the Investor Relations page, which can be accessed through the Corporate page, under the heading “Smutek Derivative Action Settlement Notice”; 

  
 3 

 (iii) Revlon will file with the SEC a Form 8-K attaching a copy of the Notice; 

(iv) a copy of the Form 8-K attaching the Notice will be available on Revlon’s website at www.revlon.com on the Investor
Relations page, which can be accessed through the Corporate page, under the heading “SEC Filings”; and 
 (v) counsel
for Revlon shall, at least ten (10) business days prior to the Settlement Hearing, file with the Court an appropriate affidavit or declaration with respect to providing the Notice and the Summary Notice. 

7. All current holders of Revlon Class A Common Stock (“Current Revlon Stockholders”) shall be bound by all orders,
determinations and judgments in the Smutek Action concerning the Stipulation and the Settlement. 
 8. All proceedings in
the Smutek Action, other than such proceedings as may be necessary to carry out the terms and conditions of the Settlement, are hereby stayed and suspended until further order of the Court. Pending final determination of whether the
Settlement should be approved, neither Plaintiff nor any person derivatively on behalf of Revlon shall either directly, representatively, derivatively or in any other capacity, commence or prosecute against any of the Released Persons (as defined in
the Stipulation) any action or proceeding in any court or tribunal asserting any of the Settled Claims (as defined in the Stipulation). 
 9. Current Revlon Stockholders who object to the proposed settlement of the Smutek Action, the Order and Final Judgment to be entered in the Smutek Action, and/or Plaintiff’s
counsel’s request for attorneys’ fees and reimbursement of expenses as well as any compensatory award for Plaintiff, or who otherwise wish to be heard, may appear in person or by their attorney at the Settlement Hearing and present
evidence or argument that may be proper and relevant; 

  
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provided, however, that, except by Order of the Court for good cause shown, no person shall be heard and no papers, briefs, pleadings or other documents submitted by any person shall be
considered by the Court unless not later than ten (10) business days prior to the Settlement Hearing such person files with the Clerk of the Court and serves upon counsel listed below: (i) a written notice of intention to appear,
identifying the name, address and telephone number of the objector and, if represented, the objector’s counsel; (ii) a signed written statement by the objector of such objector’s objections to any matters before the Court;
(iii) the grounds for such objections and the reasons that such objector desires to appear and be heard; (iv) proof of ownership of Revlon Class A Common Stock, including the number of shares presently held and the date(s) of
purchase; and (v) all documents and writings such objector desires the Court to consider. Such filings shall be served upon the following counsel: 
  

			
		  	 Kenneth J. Vianale
 Vianale
& Vianale LLP
 2499 Glades Road, Suite 112
 Boca Raton, Florida 33431

		
		  	 William Savitt
 Wachtell,
Lipton, Rosen & Katz
 51 West 52nd Street
 New York, New York 10019

		
		  	 Thomas J. Allingham II
 Alyssa
S. O’Connell
 Skadden, Arps, Slate, Meagher & Flom LLP
 One Rodney Square
 P.O. Box 636
 Wilmington, Delaware 19899

		
		  	 Lawrence Zweifach Marshall R. King
 Gibson, Dunn & Crutcher LLP
 200 Park Avenue, 47th Floor

New York, New York 10166

  
 5 

 Such papers must also be filed with the Clerk of the Court, United States District Court for
the District of Delaware, 844 N. King Street, Wilmington, Delaware 19801.  
 10. Unless the Court otherwise
directs, no Current Revlon Stockholders shall be entitled to object to the approval of the Settlement, any judgment entered thereon, any award of attorneys’ fees and expenses, or otherwise be heard, except by serving and filing a written
objection and supporting papers and documents as described in Paragraph 9 above. Current Revlon Stockholders who fail to object in the manner described above shall be deemed to have waived the right to object (including any right of appeal) and
shall be forever barred from raising such objection in the Smutek Action or any other action or proceeding. 
 11. The
Parties shall file any papers, including memoranda or briefs, in response to any objections no later than five (5) business days prior to the Settlement Hearing. 
 12. Plaintiff’s counsel shall file and serve papers in support of approval of the proposed Settlement and their application for attorneys’ fees and reimbursement of expenses no later than twenty
(20) business days prior to the Settlement Hearing, with any objections by parties to the application for attorneys’ fees and reimbursement of expenses filed and served no later than ten (10) business days prior to the Settlement
Hearing; if reply papers are necessary, they are to be filed and served no later than three (3) business days prior to the Settlement Hearing. 
 13. If the Court approves the proposed Settlement provided for in the Stipulation following the Settlement Hearing, the Order and Final Judgment shall be entered substantially in the form attached to the
Stipulation as Exhibit B. 
 14. If the Settlement, including any amendment made in accordance with the Stipulation, is not
approved by the Court or shall not become effective for any reason 

  
 6 

 
whatsoever, the Settlement (including any modification thereof made with the consent of the Parties as provided for in the Stipulation) and any actions taken or to be taken in connection
therewith (including this Order and any judgment entered herein) shall be terminated and shall become void and of no further force and effect, except for the obligation of Revlon to pay for any expenses incurred in connection with the Notice, the
Summary Notice and administration provided for by this Order. 
 15. Neither the Stipulation, nor any provision contained in the
Stipulation, nor any action undertaken pursuant thereto, nor the negotiation thereof by any party shall be deemed an admission or received as evidence in the Smutek Action or any other action or proceeding. 

16. The Court may, for good cause, extend any of the deadlines set forth in this Order without further notice to Current Revlon
Stockholders. 
 SO ORDERED this             day of
            , 2012. 
  

	
	  

	 CHIEF JUDGE GREGORY M. SLEET

  
 7 

 EXHIBIT A-1 
 IN THE UNITED STATES DISTRICT COURT 
 FOR THE DISTRICT OF DELAWARE

  

							
	 RICHARD SMUTEK, derivatively on behalf of

REVLON, INC.,
  

                   
    Plaintiff,
  

                   
    v.
  
 RONALD O. PERELMAN, DAVID L. KENNEDY, ALAN T.
ENNIS, ALAN S. BERNIKOW, PAUL J. BOHAN, MEYER FELDBERG, ANN D. JORDAN, DEBRA L. LEE, TAMARA MELLON, BARRY F. SCHWARTZ, KATHI P. SEIFERT, and MACANDREWS & FORBES HOLDINGS INC.,

 

                   
    Defendants,
  

        and

 
 REVLON, INC.,

 

                   
    Nominal Defendant.
	  	 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
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No. 10-392-GMS

 NOTICE OF PENDENCY OF DERIVATIVE ACTION, PROPOSED SETTLEMENT OF 

DERIVATIVE ACTION, SETTLEMENT HEARING AND RIGHT TO APPEAR 
 TO: ALL CURRENT HOLDERS OF REVLON, INC. (“REVLON” OR THE “COMPANY”) CLASS A COMMON STOCK (“CURRENT REVLON STOCKHOLDERS”). 

YOU ARE HEREBY NOTIFIED, that the parties to the above-captioned stockholder derivative action (the “Smutek
Action”) have entered into an agreement to fully, finally and forever resolve the issues raised in the Smutek Action. The terms of the proposed settlement of the Smutek Action (the
“Settlement”) are set forth in a Stipulation of Settlement dated October 8, 2012 (with the exhibits thereto, the “Stipulation”).  
 PLEASE BE FURTHER ADVISED, that on             , 2012, at         .m., a hearing (the
“Settlement Hearing”) will be held before Chief Judge Gregory M. Sleet of the United States District Court for the District of Delaware (the “Court”) at the United States District Court for the

 
District of Delaware, J. Caleb Boggs Federal Building, 844 N. King Street, Courtroom 2A, Wilmington, Delaware 19801, to determine; (i) whether the proposed Settlement of the Smutek
Action on the terms and conditions provided for in the Stipulation is fair, reasonable, adequate and in the best interests of Revlon and Current Revlon Stockholders, and should be approved by the Court; (ii) whether plaintiff Richard
Smutek’s (“Plaintiff”) counsel’s application for attorneys’ fees and expenses as well as any compensatory award for Plaintiff should be granted; and (iii) whether an Order and Final Judgment should be entered pursuant
to the Stipulation, approving the proposed Settlement and dismissing the Smutek Action. 
 Because the Smutek Action is not a
“Class Action,” no individual Current Revlon Stockholders have the right to compensation as a result of the proposed Settlement described below. 
 PLEASE READ THIS NOTICE CAREFULLY AND COMPLETELY. This Notice describes the rights you may have under the proposed Settlement of the Smutek Action and what steps you may, but
are not required to, take in relation to the Settlement. If the Court approves the Settlement, the parties will ask the Court at the Settlement Hearing to enter an Order and Final Judgment dismissing the Smutek Action with
prejudice. 
 In addition to this Notice of the proposed Settlement of the Smutek Action, Revlon will issue or has issued a
separate notice about the proposed settlement of a related class action captioned In re Revlon, Inc. Shareholders Litigation, C.A. No. 4578-VCL (Del. Ch.). That notice will be or has been posted on Revlon’s website at
www.revlon.com on the Investor Relations page, which can be accessed through the Corporate page, under the heading “In re Revlon, Inc. Shareholders Litigation Class Action Settlement Notice.” That notice will also be or has
been attached to a Form 8-K filed with the United States Securities and Exchange Commission, and will be available on Revlon’s website at www.revlon.com on the Investor Relations page, which can be accessed through the Corporate page,
under the heading “SEC Filings.” 
 THE FOLLOWING RECITATION DOES NOT CONSTITUTE FINDINGS OF THE COURT. IT IS BASED ON STATEMENTS
OF THE PARTIES AND SHOULD NOT BE UNDERSTOOD AS AN EXPRESSION OF ANY OPINION OF THE COURT AS TO THE MERITS OF ANY OF THE CLAIMS OR DEFENSES RAISED BY ANY OF THE PARTIES. 
 This summary should be read in conjunction with, and is qualified in its entirety by reference to, the text of the Stipulation, which has been filed with the Court. This Notice contains only a
summary of the terms of the proposed Settlement. For a more detailed statement of the Settlement, you should review a copy of the Stipulation. A copy of the Stipulation is on file with the Clerk of the Court and may be reviewed at the office of the
Clerk of the Court, United States District Court for the District of Delaware, 844 N. King Street, Wilmington, Delaware 19801 during regular business hours. You can also contact Plaintiff’s counsel for a copy of the
Stipulation. Plaintiff’s counsel can be contacted at:  
 Kenneth J. Vianale 

Vianale & Vianale LLP 
 2499 Glades Road, Suite 112 
 Boca Raton, Florida 33431 

(561) 392-4750 

  
 2 

 Background and Description of the Smutek Action

 The following provides the background of events leading up to the filing of the Smutek Action, and a
description of the Smutek Action. 
 On April 20, 2009, Revlon announced that MacAndrews & Forbes Holdings
Inc. (“MacAndrews & Forbes”) proposed a merger transaction (the “Proposal”). 
 On April 24,
2009, plaintiff Vern Mercier filed a verified complaint against Revlon and Ronald O. Perelman, Barry F. Schwartz, David L. Kennedy, Alan T. Ennis, Alan S. Bernikow, Paul J. Bohan, Meyer Feldberg, Ann D. Jordan, Debra L. Lee, Tamara Mellon, Kathi P.
Seifert, and MacAndrews & Forbes (“Defendants”), and now-former Revlon director Kenneth L. Wolfe (“Wolfe”) on behalf of a putative class of Revlon’s stockholders in the Delaware Court of Chancery (the “Delaware
Chancery Court”) captioned Mercier v. Perelman, et al., C.A. No. 4532-VCL (Del. Ch.) (the “Mercier Action”). 
 On May 1, 2009, plaintiff Arthur Jurkowitz filed a verified complaint against Revlon, Defendants and Wolfe on behalf of a putative class of Revlon’s stockholders in the Delaware Chancery Court,
captioned Jurkowitz v. Perelman, et al., C.A. No. 4557-VCL (Del. Ch.) (the “Jurkowitz Action”). 

On May 4, 2009, plaintiff Stanley S. Sullivan filed a complaint against Revlon, Defendants and Wolfe on behalf of a putative class
of Revlon’s stockholders in the New York State Supreme Court, captioned Sullivan v. Perelman, et al., No. 650257/2009 (N.Y. Sup. Ct.) (the “Sullivan Action”). 

Wolfe was later dismissed by plaintiff Stanley S. Sullivan from the Sullivan Action. 

On May 5, 2009, plaintiff Suri Lefkowitz filed a verified complaint against Revlon, Defendants and Wolfe on behalf of a putative
class of Revlon’s stockholders in the Delaware 
 Chancery Court, captioned Lefkowitz v. Revlon, Inc., et al., C.A.
No. 4563-VCL (Del. Ch.) (the “Lefkowitz Action”). 

  
 3 

 On May 12, 2009, plaintiff T. Walter Heiser filed a verified complaint against Revlon,
Defendants and Wolfe on behalf of a putative class of Revlon’s stockholders in the Delaware Chancery Court, captioned Heiser v. Revlon, Inc., et al., C.A. No. 4578-VCL (Del. Ch.) (the “Heiser Action”). 

The Mercier Action, Jurkowitz Action, Lefkowitz Action and Heiser Action challenged the Proposal
(collectively, the “Initial Delaware Actions”). 
 The Sullivan Action also challenged the Proposal.

 On June 24, 2009, the Initial Delaware Actions were consolidated under the caption In re Revlon, Inc. Shareholders
Litigation, C.A. No. 4578-VCL (Del. Ch.). 
 On August 10, 2009, Revlon launched a voluntary exchange offer (the
“Exchange Offer”). 
 Following amendments to the terms of the Exchange Offer, the final date on which tenders of
Revlon Class A Common Stock could be made was on October 7, 2009. 
 On October 8, 2009, the Company consummated
the Exchange Offer. 
 Pursuant to the Exchange Offer, Revlon issued to stockholders who elected to tender shares into the
Exchange Offer 9,336,905 shares of its newly issued Series A Preferred Stock in exchange for the same number of shares of Revlon Class A Common Stock tendered in the Exchange Offer. 

On October 29, 2009, Revlon announced its third quarter results for the fiscal quarter ended September 30, 2009. 

  
 4 

 On December 21, 2009, plaintiff Edward S. Gutman filed a verified complaint against
Defendants and Wolfe on behalf of a putative class of Revlon’s stockholders in the Delaware Chancery Court captioned Gutman v. Perelman, et al., C.A. No. 5158-VCL (Del. Ch.) (the “Gutman Action”). 

On December 21, 2009, plaintiff Lawrence Corneck filed a verified complaint against Defendants and Wolfe on behalf of a putative
class of Revlon’s stockholders in the Delaware Chancery Court captioned Corneck v. Perelman, et al., C.A. No. 5160-VCL (Del. Ch.) (the “Corneck Action”). 

The Gutman Action and the Corneck Action alleged breach of fiduciary duty claims in connection with the Exchange Offer and
alleged that information regarding the Company’s third quarter 2009 results should have been disclosed in the Exchange Offer materials. 
 On December 24, 2009, an amended complaint was filed in the Sullivan Action on behalf of stockholders that participated in the Exchange Offer, alleging, among other things, that information
regarding the Company’s financial results for the third quarter 2009 should have been disclosed in the Exchange Offer materials. 
 On December 31, 2009, plaintiff John Garofalo filed a putative class action complaint on behalf of stockholders that participated in the Exchange Offer against Defendants and Revlon1 in the Court captioned Garofalo v. Revlon, Inc., et al., C.A. No. 1:09-cv-01008-GMS (D. Del.) (the
“Garofalo Action”), alleging federal and state law claims in connection with the Exchange Offer and alleging that information regarding the Company’s financial results for the third quarter 2009 should have been disclosed in
the Exchange Offer materials. 
  

	1 	Wolfe was initially named as a defendant in the Garofalo Action, but was later dismissed. 

  
 5 

 On January 6, 2010, an amended complaint was filed by plaintiffs in the Initial
Delaware Actions against Revlon, Defendants and Wolfe, making allegations similar to those contained in the amended Sullivan Action complaint. 
 On January 15, 2010, the Delaware Chancery Court consolidated the Gutman Action and Corneck Action with the previously consolidated Initial Delaware Actions (the Initial Delaware
Actions, Gutman Action and Corneck Action, collectively, are hereafter referred to as the “Consolidated Action”). 
 On May 11, 2010, Plaintiff, on behalf of Revlon, filed a derivative complaint against Defendants and current Revlon director Richard J. Santagati (“Santagati”) in the Court captioned
Smutek v. Perelman, et al., No. 1:10-CV-00392-GMS (D. Del.), in connection with the Exchange Offer and the alleged failure to disclose information in the Exchange Offer materials regarding the Company’s financial results for the
third quarter 2009. 
 Revlon was named as a nominal defendant in the Smutek Action. 

Plaintiff later filed a voluntary dismissal of Santagati from the Smutek Action. 

The complaint in the Smutek Action alleged, among other things, that Defendants’ alleged misconduct with respect to the
Exchange Offer exposed Revlon to litigation such as the Garofalo Action, Gutman Action and Corneck Action, and potential damages therefrom. 
 On May 25, 2010, an amended complaint was filed in the Consolidated Action alleging breach of fiduciary duty claims in connection with the Exchange Offer and claiming that information regarding the
Company’s financial results for the third quarter 2009 should have been disclosed in the Exchange Offer materials. 
 On
August 16, 2010, Defendants and nominal defendant Revlon moved to dismiss the complaint in the Smutek Action. 

  
 6 

 The motions to dismiss the complaint in the Smutek Action are fully briefed and
currently pending. 
 On August 10, 2012, the parties to all the actions identified above (the “Actions”) reached
a comprehensive agreement in principle providing for the settlement of the Actions on the terms and conditions set forth in a stipulation to be filed with the Delaware Chancery Court (the “Consolidated Action Settlement”) and in the
Stipulation. 
 On             , the Court entered a scheduling
order providing for, among other things, the scheduling of the Settlement Hearing; a stay of the Smutek Action pending a hearing on the proposed Settlement; and a bar against the commencement or prosecution of any action by Plaintiff or any
person derivatively on behalf of Revlon asserting any of the Settled Claims (as defined below) subject to the Settlement of Smutek Action. 
 Reasons for the Settlement 
 Each of the Defendants and nominal
defendant Revlon has denied, and continues to deny, all charges of wrongdoing or liability against them as related to the subject matters alleged in the Actions and believe they would have prevailed on their respective motions to dismiss the
Smutek Action with prejudice and, in any event, would have prevailed on the merits. Defendants and nominal defendant Revlon expressly maintain that they diligently and scrupulously have complied with any and all fiduciary duties and other
legal obligations. Defendants and nominal defendant Revlon also have denied and continue to deny, among other things, the allegations that Plaintiff (or Revlon) has suffered damage or that Plaintiff (or Revlon) was harmed by the conduct alleged in
the Smutek Action. Nonetheless, Defendants and nominal defendant Revlon have determined that it is desirable and beneficial to Revlon and Revlon’s stockholders that the Smutek Action be fully and finally settled in the manner and
upon the terms and conditions set 

  
 7 

 
forth in the Stipulation. Defendants and nominal defendant Revlon have taken into account the burden, expense, inconvenience, distraction, delay, uncertainty and risks inherent in any litigation,
especially in complex cases like the Smutek Action, and believe the Settlement is preferable to continued litigation. 

Plaintiff’s counsel has determined that the Settlement set forth in the Stipulation is in the best interests of Revlon and its
stockholders, and will provide Revlon and its stockholders with substantial benefits. Although Plaintiff believes that the claims asserted in the Smutek Action have merit, Plaintiff’s counsel recognizes uncertainty and risks inherent in
any litigation, especially in a complex matter such as the Smutek Action. Plaintiff’s counsel also is mindful of the inherent problems of proof and of the potential defenses to the claims asserted in the Smutek Action, including
those set forth in Revlon’s (as a nominal defendant) and Defendants’ respective memoranda of law in support of their respective motions to dismiss. Further, in determining that the Settlement set forth in the Stipulation is in the best
interests of Revlon and its stockholders, Plaintiff’s counsel has taken into account their conversations with counsel for the other plaintiffs in the Actions as part of the settlement negotiations in the related class action lawsuits pending
before the Court and in the Delaware Chancery Court and New York State Supreme Court. 
 Settlement Terms

 In consideration for the full settlement and dismissal of the Smutek Action with prejudice, and for the
releases provided for below, Defendants will pay Revlon $400,000 (the “Settlement Payment”) within ten (10) business days of the Effective Date (defined below). 

  
 8 

 The Settlement is conditioned upon, and effective upon, the fulfillment of each of the
following (the “Effective Date”): 
 (i) the Settlement becoming final (“Final Approval”) upon the
completion of: (a) negotiation and execution of the Stipulation and any related documentation; (b) approval of the Settlement, entry of the Order and Final Judgment, and dismissal with prejudice of the Smutek Action in substantially
the form attached to the Stipulation, without the award of any damages, costs, or fees except as specifically provided in the Stipulation and approved by the Court; and (c) such Order and Final Judgment is either finally affirmed on appeal, or
is not subject to appeal (or further appeal) by lapse of time or otherwise; 
 (ii) negotiation and execution of the settlement
stipulation in the Consolidated Action and any related documentation, approval of the Consolidated Action Settlement (as defined above) by the Delaware Chancery Court, entry of an order and final judgment in the Consolidated Action, which order and
final judgment is either finally affirmed on appeal, or is not subject to appeal (or further appeal) by lapse of time or otherwise, and dismissal with prejudice of the Consolidated Action; and 

(iii) dismissal with prejudice of the Sullivan Action and Garofalo Action, which dismissals are finally affirmed on appeal,
or are not subject to appeal (or further appeal), by lapse of time or otherwise. 
 Application for Attorneys’ Fees
and Expenses 
 Plaintiff’s counsel will make an application to the Court for attorneys’ fees and expenses.
Defendants and Revlon reserve the right to oppose the award of attorneys’ fees and expenses if Plaintiff’s counsel’s application exceeds 30% of the Settlement Payment. Plaintiff’s counsel may seek a compensatory award for
Plaintiff of up to $1,000.00 to be paid from any award of attorneys’ fees and expenses that the Court may award. Plaintiff’s counsel may receive from the Settlement Payment such amount of attorneys’ fees and expenses that the Court
deems appropriate. Payment of attorneys’ fees and expenses, and any compensatory award, will be made within ten (10) business days of the Effective Date (as defined above). 

  
 9 

 Defendants and Revlon have denied and continue to deny each and all of the claims and
contentions alleged by Plaintiff in the Smutek Action and all charges of wrongdoing or liability against them. 

The Settlement Hearing 
 On             , 2012, at             .m., the Settlement Hearing will be held
before the Court at the United States District Court for the District of Delaware, J. Caleb Boggs Federal Building, 844 N. King Street, Courtroom 2A, Wilmington, Delaware 19801, to determine: (i) whether the proposed Settlement of the
Smutek Action on the terms and conditions provided for in the Stipulation is fair, reasonable, adequate and in the best interests of Revlon and Current Revlon Stockholders, and should be approved by the Court; (ii) whether Plaintiff’s
counsel’s application for attorneys’ fees and expenses as well as any compensatory award for Plaintiff should be granted; and (iii) whether an Order and Final Judgment should be entered pursuant to the Stipulation, approving the
proposed Settlement and dismissing the Smutek Action. 
 The Court may adjourn the date of the Settlement Hearing or any
adjournment thereof, including the consideration of Plaintiff’s counsel’s request for attorneys’ fees and expenses as well as any compensatory award for Plaintiff, without further notice of any kind to Current Revlon Stockholders
other than oral announcement at the Settlement Hearing or any adjournment thereof. 

  
 10 

 The Court has reserved the right to approve the proposed Settlement at or after the
Settlement Hearing with such modification(s) as may be consented to by the parties to the Stipulation without further notice to Current Revlon Stockholders. 
 Right to Appear and Object 
 Current Revlon Stockholders who object
to the proposed settlement of the Smutek Action, the Order and Final Judgment to be entered in the Smutek Action, and/or Plaintiff’s counsel’s request for attorneys’ fees and reimbursement of expenses as well as any
compensatory award for Plaintiff, or who otherwise wish to be heard, may appear in person or by their attorney at the Settlement Hearing and present evidence and argument that may be proper and relevant; provided, however, that, except by
Order of the Court for good cause shown, no person shall be heard and no papers, briefs, pleadings or other documents submitted by any person shall be considered by the Court unless not later than ten (10) business days prior to the Settlement
Hearing such person files with the Clerk of the Court and serves upon counsel listed below: (i) a written notice of intention to appear, identifying the name, address and telephone number of the objector and, if represented, the objector’s
counsel; (ii) a signed written statement by the objector of such objector’s objections to any matters before the Court; (iii) the grounds for such objections and the reasons that such objector desires to appear and be heard;
(iv) proof of ownership of Revlon Class A Common Stock, including the number of shares presently held and the date(s) of purchase; and (v) all documents and writings such objector desires the Court to consider. Such filings shall be
served upon the following counsel: 
 Kenneth J. Vianale 
 Vianale & Vianale LLP 
 2499 Glades Road, Suite 112 

Boca Raton, Florida 33431 

  
 11 

 William Savitt 
 Wachtell, Lipton, Rosen & Katz 
 51 West 52nd Street 

New York, New York 10019 
 Thomas J. Allingham II 
 Alyssa S. O’Connell 

Skadden, Arps, Slate, Meagher & Flom LLP 
 One Rodney Square 
 P.O. Box 636 

Wilmington, Delaware 19899 
 Lawrence Zweifach 
 Marshall R. King 

Gibson, Dunn & Crutcher LLP 
 200 Park Avenue, 47th Floor 
 New York, New York 10166 

Such papers must also be filed with the Clerk of the Court, United States District Court for the District of Delaware, 844 N. King
Street, Wilmington, Delaware 19801.  
 Unless the Court otherwise directs, no Current Revlon Stockholders shall be
entitled to object to the approval of the Settlement, any judgment entered thereon, any award of attorneys’ fees and expenses, or otherwise be heard, except by serving and filing a written objection and supporting papers and documents as
described above. Current Revlon Stockholders who fail to object in the manner described above shall be deemed to have waived the right to object (including any right of appeal) and shall be forever barred from raising such objection in the
Smutek Action or any other action or proceeding. Any Current Revlon Stockholder who does not object to the Settlement or Plaintiff’s counsel’s request for attorneys’ fees and reimbursement of expenses or to any other matter
stated above need not do anything. 
 The Order and Final Judgment and Releases 

The parties have submitted the Settlement to the Court for approval. Approval of the Settlement will result in total and final settlement
of the Smutek Action, and the claims asserted therein, and those claims that could have been asserted, will be forever relinquished and discharged. 

  
 12 

 The Order and Final Judgment shall, among other things, provide for the full and
complete dismissal of the Smutek Action with prejudice, and the settlement and release of, and a permanent injunction barring, any claims, demands, rights, actions, causes of action, liabilities, damages, losses, obligations, judgments,
duties, suits, costs, expenses, matters and issues, known or unknown, contingent or absolute, suspected or unsuspected, disclosed or undisclosed, liquidated or unliquidated, matured or unmatured, accrued or unaccrued, apparent or unapparent, that
have been, could have been, or in the future can or might be asserted in any court, tribunal or proceeding (including, but not limited to, any claims arising under federal, state, foreign or common law, including the federal securities laws and any
state disclosure law), derivatively on behalf of Revlon, or by Revlon, or by or on behalf of Plaintiff (as an individual or as a class representative), whether individual, direct, class, derivative (on behalf of Revlon or otherwise), representative,
legal, equitable, or any other type or in any other capacity (collectively, the “Releasing Persons”) against Defendants, Wolfe, Santagati, nominal defendant Revlon or any of their respective families, parent entities, controlling persons,
associates, affiliates or subsidiaries and each and all of their respective past or present officers, directors, stockholders, principals, representatives, employees, attorneys, financial or investment advisors, consultants, accountants, investment
bankers, commercial bankers, entities providing fairness opinions, underwriters, advisors or agents, heirs, executors, trustees, general or limited partners or partnerships, limited liability companies, members, joint ventures, personal or legal
representatives, estates, administrators, predecessors, successors and assigns (collectively, the “Released Persons”) which the Releasing Persons ever had, now have, or may have by reason of, arising out of, relating to,

  
 13 

 
or in connection with the acts, events, facts, matters, transactions, occurrences, statements, or representations, or any other matter whatsoever set forth in or otherwise related, directly
or indirectly, to the allegations in the Smutek Action, the complaint in the Smutek Action, the Proposal, the Exchange Offer and other transactions contemplated therein, disclosures made in connection
therewith (including the adequacy and completeness of such disclosures), any disclosure of the Company’s actual, projected or estimated financial results for the third quarter 2009, or any other disclosure made by Revlon from the date of the
Proposal through the date Revlon announced its financial results for the third quarter 2009 (including the adequacy and completeness of such disclosures) (the “Settled Claims”); provided, however, that the Settled
Claims shall not release any claims to enforce the Settlement.  
 The Order and Final Judgment shall bar and release any
and all claims, known or unknown, for damages, injunctive relief, or any other remedies against Plaintiff, his attorneys or agents based upon, arising from, or related to prosecution and/or settlement of the Smutek Action. 

These releases shall extend to all claims that Releasing Persons do not know or suspect to exist at the time of the release of the
Settled Claims, which, if known, might have affected the Releasing Persons’ decisions to enter into the releases or the Settlement. Additionally, Plaintiff and the Company acknowledge that they may discover facts in addition to or different
from those now known or believed to be true with respect to the Settled Claims, but that it is the intention of the Company and Plaintiff to completely, fully, finally and forever compromise, settle, release, discharge, extinguish, and dismiss any
and all Settled Claims, known or unknown, suspected or unsuspected, contingent or absolute, accrued or unaccrued, apparent or unapparent, which now exist, or heretofore existed, or may hereafter exist, and without regard to the subsequent
discovery of additional or different facts. Plaintiff and the Company acknowledge that 

  
 14 

 
“Unknown Claims” are expressly included in the definition of “Settled Claims,” and that such inclusion was expressly bargained for and was a key element of the Settlement
and was relied upon by each and all of the Defendants and the Company in entering into the Stipulation. “Unknown Claims” means any claim that Plaintiff or the Company does not know or suspect exists in his or its favor at the time of the
release of the Settled Claims as against the Released Persons, including, without limitation, those which, if known, might have affected the decision to enter into the Settlement. With respect to any of the Settled Claims, the parties stipulate and
agree that upon Final Approval (as defined above) of the Settlement, the Company and Plaintiff shall be deemed to have, and by operation of the Order and Final Judgment by the Court shall have, expressly waived, relinquished and released any and all
provisions, rights and benefits conferred by or under Cal. Civ. Code § 1542 or any law of the United States or any state of the United States or territory of the United States, or principle of common law, which is similar, comparable or
equivalent to Cal. Civ. Code § 1542, which provides: 
 A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR
DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR. 

  
 15 

 Scope of this Notice and Additional Information 

This Notice contains only a summary of the terms of the proposed Settlement. For a more detailed statement of the Settlement, you
should review a copy of the Stipulation on file with the Clerk of the Court at the office of the Clerk of the Court, United States District Court for the District of Delaware, 844 N. King Street, Wilmington, Delaware 19801 during regular
business hours or contact Plaintiff’s counsel for a copy of the Stipulation. Plaintiff’s counsel can be contacted at: 

Kenneth J. Vianale 

Vianale & Vianale LLP 
 2499 Glades Road, Suite 112 
 Boca Raton, Florida 33431 

(561) 392-4750 

For a more detailed statement of the matters involved in these proceedings, you may also review the files at the office of the Clerk of
the Court during regular business hours or contact Plaintiff’s counsel. 
 IF YOU HAVE ANY QUESTIONS, PLEASE MAKE ALL
INQUIRIES TO 
 PLAINTIFF’S COUNSEL. PLEASE DO NOT CONTACT THE COURT OR CLERK 

OF THE COURT DIRECTLY. 
  

	
	BY ORDER OF THE COURT
	
	 /s/ 

  
 16 

 EXHIBIT A-2 
 SMUTEK V. PERELMAN, ET AL. AND REVLON, INC., NO. 10-392-GMS (D. DEL.)

 Summary Notice of Pendency of Derivative Action, 

Proposed Settlement of Derivative Action and Settlement Hearing 
 TO: ALL CURRENT HOLDERS OF REVLON, INC. CLASS A COMMON STOCK (“CURRENT REVLON STOCKHOLDERS”) 
 YOU ARE HEREBY NOTIFIED that the parties to the above-captioned derivative action pending in the United States District Court for the District of Delaware (the “Smutek Action”)
have entered into a Stipulation of Settlement (with the exhibits thereto, the “Stipulation”) to resolve the issues raised in the Smutek Action (the “Settlement”). 
 YOU ARE HEREBY FURTHER NOTIFIED, pursuant to an Order of Chief Judge Gregory M. Sleet of the United States District Court for the District of Delaware (the “Court”), dated
            , 2012, that a hearing will be held before Chief Judge Sleet at the United States District Court for the District of Delaware, J. Caleb Boggs Federal Building, 844 N. King
Street, Courtroom 2A, Wilmington, Delaware 19801, to determine: (i) whether the proposed Settlement of the Smutek Action on the terms and conditions provided for in the Stipulation is fair, reasonable, adequate, and in the best interests
of Revlon, Inc. (“Revlon”) and Current Revlon Stockholders, and should be approved by the Court; (ii) whether plaintiff Richard Smutek’s (“Plaintiff”) counsel’s application for attorneys’ fees and expenses as
well as any compensatory award for Plaintiff should be granted; and (iii) whether an Order and Final Judgment approving the proposed Settlement should be entered pursuant to the Stipulation, approving the proposed Settlement and dismissing the
Smutek Action. 
 If approved, the Settlement will resolve the Smutek Action, and will bar any similar suits. A detailed Notice of
Pendency of Derivative Action, Proposed Settlement of Derivative Action, Settlement Hearing and Right to Appear, which describes the proposed Settlement in more detail and your right to appear, may be obtained from Revlon’s website at
www.revlon.com on the Investor Relations page, which can be accessed through the Corporate page, under the heading “Smutek Derivative Action Settlement Notice.” 
 Inquiries may be made to Plaintiff’s counsel: Kenneth J. Vianale, Vianale & Vianale LLP, 2499 Glades Road, Suite 112, Boca Raton, Florida, 33431, (561) 392-4750. 

PLEASE DO NOT CONTACT THE COURT OR CLERK OF THE COURT DIRECTLY. 

BY ORDER OF THE COURT 

 EXHIBIT B 
 IN THE UNITED STATES DISTRICT COURT 
 FOR THE DISTRICT OF DELAWARE

  

							
	 RICHARD SMUTEK, derivatively on behalf of

REVLON, INC.,
  

                   
    Plaintiff,
  

                   
    v.
  
 RONALD O. PERELMAN, DAVID L. KENNEDY, ALAN T.
ENNIS, ALAN S. BERNIKOW, PAUL J. BOHAN, MEYER FELDBERG, ANN D. JORDAN, DEBRA L. LEE, TAMARA MELLON, BARRY F. SCHWARTZ, KATHI P. SEIFERT, and MACANDREWS & FORBES HOLDINGS INC.,

 

                   
    Defendants,
  

        and

 
 REVLON, INC.,

 

                   
    Nominal Defendant.
	  	 
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
  
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No. 10-392-GMS

 [PROPOSED] ORDER AND FINAL JUDGMENT 

This matter came before the Court for hearing pursuant to an order of the Court, dated
            , 2012, on the application of the parties for approval of the settlement (the “Settlement”) set forth in the Stipulation of Settlement filed with the Court on October
            , 2012 (with the exhibits thereto, the “Stipulation”). Due and adequate notice having been given to current holders of Revlon, Inc. Class A Common Stock, and the
Court having considered all papers filed and proceedings had herein and good cause appearing therefor, IT IS HEREBY ORDERED, ADJUDGED AND DECREED that: 

 1. This Order and Final Judgment incorporates by reference the definitions in the
Stipulation, and unless defined herein, capitalized words and terms shall have the same meaning as they have in the Stipulation. 
 2. The Court has jurisdiction over the subject matter of Smutek v. Perelman, et al., No. 1:10-CV-00392-GMS (D. Del.) (the “Smutek Action”), including all matters necessary to
effectuate the Settlement, and over all parties to the Smutek Action, including: (i) Richard Smutek (“Plaintiff”), (ii) nominal defendant Revlon, Inc. (“Revlon” or the “Company”) and (iii) Ronald
O. Perelman, Barry F. Schwartz, David L. Kennedy, Alan T. Ennis, Alan S. Bernikow, Paul J. Bohan, Meyer Feldberg, Ann D. Jordan, Debra L. Lee, Tamara Mellon, Kathi P. Seifert, and MacAndrews & Forbes Holdings Inc. (“Defendants”).

 3. The notice given to current holders of Revlon Class A Common Stock, including posting of the Notice of Pendency of
Derivative Action, Proposed Settlement of Derivative Action, Settlement Hearing and Right to Appear (the “Notice”) on Revlon’s website, filing a Form 8-K with the United States Securities and Exchange Commission attaching the Notice,
and publishing a summary version of the Notice in Investor’s Business Daily, satisfied the requirements of Federal Rule of Civil Procedure 23.1(c) and due process. 
 4. The Court has considered any and all objections to the Settlement, and overrules them. 
 5. The Stipulation and the Settlement set forth therein are hereby approved. The Court finds that the Settlement is, in all respects, fair, reasonable, adequate and in the best interests of Revlon and the
Company’s current holders of Revlon Class A Common Stock. The parties are hereby directed to perform the terms of the Settlement. 

  
 2 

 6. The Smutek Action, including the derivative claims alleged therein, is hereby
dismissed in its entirety on the merits and with prejudice. The parties are to bear their own costs, except as otherwise provided in the Stipulation and in Paragraph 14 below. 
 7. The Court hereby dismisses the Smutek Action with prejudice, and orders the settlement and release of, and a permanent injunction barring, any claims, demands, rights, actions, causes of
action, liabilities, damages, losses, obligations, judgments, duties, suits, costs, expenses, matters and issues, known or unknown, contingent or absolute, suspected or unsuspected, disclosed or undisclosed, liquidated or unliquidated, matured or
unmatured, accrued or unaccrued, apparent or unapparent, that have been, could have been, or in the future can or might be asserted in any court, tribunal or proceeding (including, but not limited to, any claims arising under federal, state, foreign
or common law, including the federal securities laws and any state disclosure law), derivatively on behalf of Revlon, or by Revlon, or by or on behalf of Plaintiff (as an individual or as a class representative), whether individual, direct, class,
derivative (on behalf of Revlon or otherwise), representative, legal, equitable, or any other type or in any other capacity (collectively, the “Releasing Persons”) against Defendants, Wolfe, Santagati, nominal defendant Revlon or any of
their respective families, parent entities, controlling persons, associates, affiliates or subsidiaries and each and all of their respective past or present officers, directors, stockholders, principals, representatives, employees, attorneys,
financial or investment advisors, consultants, accountants, investment bankers, commercial bankers, entities providing fairness opinions, underwriters, advisors or agents, heirs, executors, trustees, general or limited partners or partnerships,
limited liability companies, members, joint ventures, personal or legal representatives, estates, administrators, predecessors, successors and assigns (collectively, the “Released Persons”) which the Releasing Persons ever had, now have,

  
 3 

 
or may have by reason of, arising out of, relating to, or in connection with the acts, events, facts, matters, transactions, occurrences, statements, or representations, or any other matter
whatsoever set forth in or otherwise related, directly or indirectly, to the allegations in the Smutek Action, the complaint in the Smutek Action, the Proposal, the Exchange Offer and other transactions
contemplated therein, disclosures made in connection therewith (including the adequacy and completeness of such disclosures), any disclosure of the Company’s actual, projected or estimated financial results for the third quarter 2009, or any
other disclosure made by Revlon from the date of the Proposal through the date Revlon announced its financial results for the third quarter 2009 (including the adequacy and completeness of such disclosures) (the “Settled Claims”);
provided, however, that the Settled Claims shall not release any claims to enforce the Settlement.  

8. The Court further bars and releases any and all claims, known or unknown, for damages, injunctive relief, or any other remedies
against Plaintiff, his attorneys or agents based upon, arising from, or related to prosecution and/or settlement of the Smutek Action. 
 9. The releases described in Paragraphs 7 and 8 above shall extend to all claims that Releasing Persons do not know or suspect to exist at the time of the release of the Settled Claims, which, if known,
might have affected the Releasing Persons’ decisions to enter into the releases or the Settlement. Additionally, Plaintiff and the Company acknowledge that they may discover facts in addition to or different from those now known or believed to
be true with respect to the Settled Claims, but that it is the intention of the Company and Plaintiff to completely, fully, finally and forever compromise, settle, release, discharge, extinguish, and dismiss any and all Settled Claims, known or
unknown, suspected or unsuspected, contingent or absolute, accrued or unaccrued, apparent or unapparent, which now exist, or heretofore existed, or may hereafter 

  
 4 

 
exist, and without regard to the subsequent discovery of additional or different facts. Plaintiff and the Company acknowledge that “Unknown Claims” are expressly included in the
definition of “Settled Claims,” and that such inclusion was expressly bargained for and was a key element of the Settlement and was relied upon by each and all of the Defendants and the Company in entering into the Stipulation.
“Unknown Claims” means any claim that Plaintiff or the Company does not know or suspect exists in his or its favor at the time of the release of the Settled Claims as against the Released Persons, including, without limitation, those
which, if known, might have affected the decision to enter into the Settlement. With respect to any of the Settled Claims, the parties stipulate and agree that upon Final Approval of the Settlement, the Company and Plaintiff shall be deemed to have,
and by operation of this Order and Final Judgment by the Court shall have, expressly waived, relinquished and released any and all provisions, rights and benefits conferred by or under Cal. Civ. Code § 1542 or any law of the United States or
any state of the United States or territory of the United States, or principle of common law, which is similar, comparable or equivalent to Cal. Civ. Code § 1542, which provides: 

A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF
EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR. 

10. Plaintiff or any current holders of Revlon Class A Common Stock purporting to assert derivatively on behalf of Revlon the
Released Claims are hereby permanently barred and enjoined from instituting, commencing, prosecuting, participating in or continuing any action or other proceeding in any court or tribunal of this or any other jurisdiction, either directly,
representatively, derivatively or in any other capacity, against any of the Released Persons, based upon, arising out of, or in any way related to or for the purpose of enforcing any Settled Claim,

  
 5 

 
all of which Settled Claims are compromised, settled, released, dismissed with prejudice and extinguished by virtue of the proceedings in the Smutek Action and this Order and Final
Judgment. 
 11. Revlon, each of the Defendants and the Released Persons are deemed to have, and by operation of this Order and
Final Judgment shall have, fully, finally, and forever released, relinquished and discharged Plaintiff and Plaintiff’s counsel from all claims, based upon or arising out of the institution, prosecution, assertion, settlement or resolution of
the Smutek Action; provided, however, that Revlon, Defendants and Released Persons shall retain the right to enforce in the Court the terms of the Stipulation and the Settlement.  

12. Neither the Stipulation nor the Settlement contained therein, nor any act performed or document executed pursuant to, or in
furtherance of, the Settlement: (i) is or may be deemed to be or may be used as an admission of, or evidence of, the validity or lack thereof of any Settled Claim, or of any wrongdoing or liability of Defendants or Revlon; or (ii) is or
may be deemed to be or may be used as an admission of, or evidence of, any fault or omission of any of the Defendants or Revlon in any proceeding of any nature. Nothing in this Order and Final Judgment shall preclude any action to enforce the terms
of the Stipulation or this Order and Final Judgment. Revlon and/or Defendants may file, cite and/or refer to the Stipulation and/or this Order and Final Judgment in related litigation as evidence of the Settlement, or in any action that may be
brought against them in order to support a defense or counterclaim based on principles of res judicata, collateral estoppel, release, good faith settlement, judgment bar or reduction, or any other theory of claim preclusion or issue
preclusion or similar defense or counterclaim. 
 13. Without affecting the finality of this Order and Final Judgment,
jurisdiction is hereby retained by the Court for the purpose of protecting and implementing the Stipulation and 

  
 6 

 
the terms of this Order and Final Judgment, including the resolution of any disputes that may arise with respect to the effectuation of any of the provisions of the Stipulation, and for the entry
of such further orders as may be necessary or appropriate in administering and implementing the terms and provisions of the Settlement and this Order and Final Judgment. 
 14. The Court, having considered the nature of the Smutek Action and the results obtained on behalf of Revlon and current holders of Revlon Class A Common Stock, hereby orders that
Plaintiff’s counsel is awarded attorneys’ fees in the amount of $            , inclusive of expenses, which shall be paid in accordance with the terms and conditions of the
Stipulation. 
 SO ORDERED this             day of
                    , 2012. 
  

	
	  

	 CHIEF JUDGE GREGORY M. SLEET

  
 7

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